Gold reserves in india

 Around 300 B.C. an ancient Greeks historian Megasthenes came to India. In his book 'Indica' he called India the golden bird. As time passed that title was lost because of some horrible incident that happened in India. But nowadays India has slowly regained the title "THE GOLDEN BIRD".





   Gold is one of the most precious and valuable metals that can find on our planet. The value of gold is increasing day by day, making it a more attractive investment option for many people. That's why almost all the countries in the world reserve gold in their central bank as a backup. Because if anything bad happens like a natural disaster, economic slowdown, war, etc they can use that gold and find a better way out of that situation. India has 573 billion dollars of foreign reserves in the Central Bank. Out of 573 billion dollars, India has 787 metric tonnes which are worth 44 billion dollars in gold reserves. India has ranked 9th in the world in gold reserves with a 7% share of total foreign reserves. However, the USA came first with massive 8133 metric tons of gold. 

   

      But in the case of overall gold reserves including domestic and temple, India has a huge amount of gold reserves. Take the example of the Tirupati Balaji temple in Andhra Pradesh. Recently the temple authority published the net worth of that temple and it is 2.3 lakhs crores rupees including 10.3 tonnes of gold worth 5300 crores rupees. India has lots of temples like that which have a lot of gold. And domestically most Indian women love gold and hold a certain amount of gold. 


       Gold is founded in form of ore and has been mined from the ground. As of March 17th, 2022, India's gold ore reserves totaled 17.2 million tonnes. Karnataka is the leading producer of gold in India, producing the highest amount of gold among all of the Indian states. Almost 80% of India's gold comes from Karnataka. However, Bihar (44%) comes first in the case of gold ore reserves followed by Rajasthan (25%) and Karnataka (21%). In recent times, Geological survey of India confirms that there is a large amount of 1685 kg gold ore reserves in Odisha. So in the coming years, India will regain its title of "THE GOLDEN BIRD".



Comments

Post a Comment

Popular posts from this blog

Geological Survey of India discovered a huge amount of 5900 metric tonnes of lithium in Jammu and Kashmir

  What is Lithium                               Lithium is one of the most important and useful metals found on earth. In the modern periodic table, lithium is placed in the first row and the second period with the atomic number of 3. It's silver-white in color, soft, and electropositive. Its valance number is 1.  What is its use                          In our modern world, we created a lot of methods to produce energy. But there are a few methods to store that energy. Back in the day one of the methods to store energy was led acid batteries. But there was a big problem, the lead acid batteries' size is too big compared to the energy storage capacity. In the late twenties century elections, the market started booming, and in the twenty-first century from mobile, and laptops to every election device need energy. But due to the size and cap...
Read more