India ranks second globally in increasing gold reserves

 Mumbai, March 10- In the last five years after the Corona pandemic, the Reserve Bank of India has increased its gold reserves by 244 tonnes.

 

Gold reserves

What is the rank of first in gold reserves country

China is the top buyer of gold in the world, while India is second, according to data from the World Gold Council.

Following Russia's military operation in Ukraine, central banks of many countries have changed their economic policies accordingly.

However, China and India have been increasing their gold reserves more consistently than any other central bank.

In the five years from 2020 to 2024, the Reserve Bank of India has increased its gold reserves by 244 tonnes.

During the same period, China has increased its reserves by 336 tonnes. In particular, the BRICS countries of Brazil, Russia, India, China and South Africa alone have increased their gold reserves by 700 tonnes in the last five years. Of this, India holds one-third.

Experts say that the Reserve Bank of India is continuously increasing its gold reserves to address various economic risks including global currency value, domestic economic and interest rates, gold prices, debt, and geopolitical and inflationary factors.

Despite the fact that central banks of other countries have reduced their gold purchases, the Reserve Bank of India continues to buy gold.

India bought 22.54 tonnes of gold in the first quarter of last year. China bought 15.24 tonnes of gold in the same period.

Poland bought the most gold at 28.53 tonnes. The Reserve Bank is said to have bought nearly 3 tonnes of gold in 2025.

As of January 31, the Reserve Bank of India's gold reserves have increased to 879 tonnes.