What would our GDP per capita be, and how much grown?
An old english saying states that "experience is gold." However, this adage "becomes gold" is outdated when it comes to India. Since ancient times, gold has been revered as a precious metal in our nation; currently, three times as much gold is held in private residences as in the US government's treasury. In comparison, india has 25,000 tonnes of gold stored in its houses, which is worth 40% of the country's GDP, whereas America has 8,133 tonnes of gold stored in its national treasury.
4000 gold tons in temples
There's also the intriguing fact that India's temples hold enormous gold reserves. An estimated four thousand tonnes of gold have been put in our nation's temples. Russia, China, Japan, Germany, Italy, and france likewise have very little gold holdings.
Why is gold investing popular in India?
In an interview with ABP, economics professor manish Srivastava stated that there are two possible explanations for this. Firstly, there is an old indian custom that holds that the more gold you possess, the wealthier you are perceived to be. Aside from this, women have always liked wearing gold jewelry. The second most crucial factor, in Manish's opinion, is that gold can be used in the event of a future unfortunate event. The only investment you can profit from overnight is an army.
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