Mumbai : According to a report by the World Gold Council, Indian women hold the largest gold reserve in the world, with an estimated 24,000 tons of gold, valued at over $1 trillion. This amount is equivalent to 11% of the world's total gold reserves.
The report states that the gold reserve held by Indian women is more than the combined gold reserves of the top five countries, including the United States, Germany, Italy, France, and Russia.
The World Gold Council's report also highlights that the gold reserve held by Indian households is estimated to be around 25,000 tons, which is valued at over $1.5 trillion. This amount is equivalent to 40% of the country's total foreign exchange reserves.
According to experts, the large gold reserve held by Indian women is due to the cultural significance of gold in Indian society. Gold is considered a symbol of prosperity, wealth, and good fortune, and is often given as a gift to women during weddings and other special occasions.
The report also states that the southern state of Tamil Nadu has the largest gold reserve in the country, with an estimated 6,720 tons of gold held by women in the state. This amount is equivalent to 28% of the country's total gold reserves.
The World Gold Council's report has also highlighted the importance of gold in India's economy. The report states that gold is an important source of financial security for Indian households, and that it plays a crucial role in the country's economy during times of economic uncertainty.
In terms of gold reserves held by other countries, the report states that the United States has an estimated 8,000 tons of gold, followed by Germany with 3,300 tons, Italy with 2,450 tons, France with 2,400 tons, and Russia with 1,900 tons.
The Reserve Bank of India (RBI) also holds a significant amount of gold in its foreign exchange reserves. According to the RBI's latest data, the country's gold reserves have increased by 9% over the past year, and now stand at 876.18 tons.
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