Too much money invested in gold in India, says CII

Too much money invested in gold in India, says CII Bangalore: Investors in mutual funds and equity should get better incentives so that Indians do not invest much money in gold, industry body CII said on Monday.

Gold imports in 2011-12 were to the tune of USD 60 billion, which also contributed to deterioration in the country's balance of trade, CII President Adi Godrej told reporters here.

"We need to balance our trade better," he said.

PTI