Archive · 6 Aug 2026
India's ₹315 lakh crore gold stock could power economy
India has a huge amount of gold stored in people's homes.
A group called the World Gold Council wrote a report about it.
They say this gold could help India's economy grow stronger.
Young people born between 1997 and 2012 look at gold differently.
They see it as a money tool, not just shiny jewellery.
They like digital gold and buying gold using phones or computers.
By 2035, these young people will spend almost $2 trillion.
The report says India should build better systems to put that gold to use.
That way, old gold can become useful money for the country.
India holds an estimated 31,000 tonnes of household gold valued at ₹315 lakh crore, which the World Gold Council says could be mobilised to power the economy.
Gen Z, born between 1997 and 2012, increasingly views gold as a financial asset offering liquidity, flexibility and convenience rather than only jewellery or a family heirloom.
Gen Z is expected to account for nearly $2 trillion in consumer spending by 2035, expanding its influence over India's gold ecosystem.
The WGC recommends an integrated gold ecosystem linking the Gold Monetisation Scheme, gold recycling, electronic gold receipts, digital gold, bullion banking and gold-backed financial products.
The report proposes a National Gold Board and a Gold Innovation Centre, and notes India's ₹4.5 lakh crore jewellery market is entering structural change.
- Who
- The World Gold Council, which authored the report, Gen Z consumers in India born between 1997 and 2012, and Sachin Jain, Regional CEO, India, World Gold Council.
- What
- A World Gold Council report says mobilising part of India's 31,000 tonnes of household gold (₹315 lakh crore) through an integrated, digital-friendly gold ecosystem could turn dormant wealth into productive capital.
- When
- Not explicitly stated in the article; it cites gold and silver prices as of August 5.
- Where
- India
- Why
- To deepen financial markets, improve liquidity, support capital formation, reduce dependence on imported bullion and support long-term economic growth.
- Household gold stock
- Estimated 31,000 tonnes valued at ₹315 lakh crore
- Gen Z birth years
- 1997-2012
- Projected Gen Z spending by 2035
- Nearly $2 trillion
- India's jewellery market size
- ₹4.5 lakh crore
- Key recommendations
- National Gold Board and Gold Innovation Centre
- Integrated ecosystem elements
- Gold Monetisation Scheme, gold recycling, electronic gold receipts, digital gold, bullion banking and gold-backed financial products
- Five pillars for gold ecosystem
- Financialisation, expanding domestic mining, boosting jewellery exports, reimagining jewellery for modern consumers, recognising gold as a strategic national asset