Key findings from this report include the following:
• In 2009, total Indian gold demand reached US$19 billion, or Rs974 billion, which accounts for 15% of the global gold market.
• Over the past ten years, the value of gold demand in India has increased at an average rate of 13% per year, outpacing the country’s real GDP, inflation and population growth by 6%, 8% and 12% respectively.
• The country currently has one of the highest saving rates in the world, estimated at around 30% of total income, of which 10% is already invested in gold.
• Based on WGC estimates, the nation owns over 18,000 tonnes of above ground gold stocks worth approximately US$800 billion at today’s gold price and representing at least 11% of global stock.
• This is equivalent to nearly half an ounce of gold ownership per capita, a figure which is significantly below consumption in western markets, representing scope for additional future growth. gold stocks worth approximately US$800 billion at today’s gold price and representing at least 11% of global stock.
The full report can be downloaded by registering with the Gold Council here.