India's Gold Hoard Hits $5 Trillion, Surpassing GDP: A Shocking Reality!

• Indian households possess over $5 trillion (Rs. 420 lakh crore) in gold, exceeding the nation's GDP.
• Approximately 34,600 tonnes of gold are held by Indian families, primarily as jewellery (80%).
• Gold is seen as an emotional investment and a safe haven, maintaining value against the American dollar.
• India is the world's second-largest gold consumer; RBI also significantly increased its gold reserves by 75 tonnes in 2024.
• Despite being a non-productive asset, government schemes like Gold Bonds aim to channel this wealth for national development.

Why It Matters: India's massive household gold wealth ($5 trillion) surpasses its GDP, posing a challenge for national development.