New Delhi: There was a time when India was called the golden bird. There were many reasons to say that. It is believed that in 1739, Nadir Shah, the ruler of Persia (now Iran), invaded Delhi and looted so much gold from here that for three years no one was required to pay tax. Not only this, the Mughal ruler Shah Jahan also prepared a throne for himself. It is said that this entire throne was made of pure gold. It was called 'Takht-e-Taus'. Along with this throne, Britain also took away a lot of gold from India.
However, today is Akshaya Tritiya and buying gold and silver on this day is considered extremely auspicious. The production of gold in India is very low, but after China, the most demand for gold is 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 tonnes. 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 tonnes of gold. Its value is around $1.4 trillion i.e. Around Rs 107 lakh crore. This is 45% of India's GDP. In 2021-22, India's GDP was Rs 232.15 lakh crore.
According to a report, at present, Indian women do not have as much gold as they do, even the central bank of eight countries, including the US, Germany and China. The U.S. central bank has the highest gold reserves. According to the World Gold Council, the U.S. central bank has 8,133.47 tons of gold reserves. The second place is Germany, which has 3,358.50 tonnes of gold. Russia has 2,301.64 tonnes of gold and China has 1,948.31 tonnes of gold. At the same time, the RBI has 760.40 tonnes of gold reserves in India. Data from the World Gold Council shows that the demand for gold in India has started to grow back. For the past few years, the demand for gold in India has been declining steadily.
In the Corona period, the demand for gold was the lowest in 2020. That year 446 tons of gold were bought. However, in 2021, it again saw a boom and this year more than 797 tonnes of gold were bought. The production of gold 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 tonnes of gold.