Indian Household Wealth Shifts Toward Gold as Equity Barely Moves

Indian families owned much more wealth in March 2026 than they did three years earlier.

A new Kotak Mutual Fund report examined where that wealth was kept.

Property was still the biggest part of household wealth.

Gold became much more important, rising from about 15% to 24% of total assets.

The value of gold held by households more than doubled to about $3.87 trillion.

Stocks and equity investments, however, barely increased as a share of total wealth.

This happened even though mutual fund investments and SIPs have been growing.

Bank deposits, insurance, and cash became smaller parts of the overall mix.

The report suggests that Indian households are adding market-linked investments without replacing traditional assets on a large scale.