New Delhi: There was a time when India was called the golden bird. There were many reasons to say that. It is believed that Nadir Shah, the ruler of Persia (now Iran), in 1739 invaded Delhi and plundered so much gold from here that no one for three years was obliged to pay taxes. Not only this, Mughal ruler Shah Jahan also prepared a throne for himself. It is said that this whole throne was made of pure gold. It was called ‘Takht-e-Taus’. Along with this throne, Britain also took a lot of gold from India.
But today it is Akshaya Tritiya, and buying gold and silver on this day is considered extremely promising. Gold production in India is very low, but after China, there is the greatest demand for gold here. According to the World Gold Council, the demand for gold in India in 2021 was 797.3 tonnes. Whereas in 2020 it was 446.4 tons. That is, in 2021, there was a daily demand for gold worth thousands of crores of rupees in India. According to an estimate, Indian women own 22,500 tons of gold. Its value is about $ 1.4 trillion, i.e. about Rs 107 lakh crore. That is 45% of India’s GDP. In 2021-22, India’s GDP was 232.15 lakh crore Rs.
According to a report, Indian women currently do not have as much gold as they have, even the central bank of eight countries, including the United States, Germany and China. The US Federal Reserve has the highest gold reserves. According to the World Gold Council, the US Federal Reserve has 8,133.47 tonnes of gold reserves. Second place is Germany, which has 3,358.50 tons of gold. Russia has 2,301.64 tons of gold and China has 1,948.31 tons of gold. At the same time, RBI has 760.40 tons of gold reserves in India. Data from the World Gold Council show that the demand for gold in India is starting to grow back. In the last few years, the demand for gold in India has been steadily declining.
During the Corona period, the demand for gold was the lowest in 2020. That year, 446 tons of gold were purchased. But in 2021, it again experienced a boom, and this year, more than 797 tons of gold were purchased. Gold production in India is very low. In 2020, only 1.6 tonnes of gold were produced in India. India imports most of the gold it needs. In 2020-21, India imported 651.24 tons of gold.