New Delhi, Dec 2 : India as the second-largest buyer of gold in the world can play a crucial role in the global economic order as central banks are still buying the precious metal in large quantities, Alok Kumar Choudhary, Managing Director, State Bank of India (SBI), said on Friday.

"We have also seen how India can be the fulcrum in setting up global economic corridor," he said while addressing the 15th International Gold Economic Forum organised here by ASSOCHAM.  While the gold standard might not be in place anymore, several banks including the RBI continue to hold gold reserves as a staple component of their overall reserves, he added.