- According to the World Gold Council, India has pipped the Netherlands to move into the list of top ten countries in terms of total gold reserves.
- India has total gold reserves of 618.2 tonnes, which is little higher than the Netherlands’ reserves of 612.5 tonnes.
- However, in terms of individual countries, India actually ranks ninth since the International Monetary Fund (IMF) occupies the third position after the U.S. and Germany.
- The U.S. has total gold reserves of 8,133.5 tonnes which is largest in the world. US is followed by Germany with 3,366.8 tonnes. IMF is ranked third with a holding of 2,451.8 tonnes, it is followed by Italy (2,451.8 tonnes), France (2,436.1 tonnes), Russia (2,219.2 tonnes), China (1,936.5 tonnes), Switzerland (1,040 tonnes) and Japan (765.2 tonnes) before India at the 10th spot.
- India’s gold reserves have grown substantially in the past couple of decades from 357.8 tonnes in the first quarter of 2000 to the current 618.2 tonnes.
- India’s neighbour Pakistan has seen its standing unchanged at the 45th position with total gold reserves of 64.6 tonnes.
