Delhi Delhi. Gold in India is more than just an asset or investment, it is an emotional component of an ordinary Indian's existence. This is because Indians attach more emotional value to the yellow metal than most of their global counterparts. A report shared by an ex-handle named BRICS News states that Indian women now own 11 percent of the world's gold. The supply is more than the gold reserves of the next top 5 countries combined.
The post from the The post did not mention the source of the report. However, the Mahindra Group chief and an industrialist known for his activism on X took to the platform to respond to the post. In his post he said, “In 1962 , I was only seven years old at the outbreak of our war with China. But I well remember the appeal to all citizens to contribute their gold goods and jewelery to the war effort.”
Mahindra further said, “Trucks would go around the neighborhoods of Mumbai and ask for donations through megaphones.” Furthermore, he talked about the relationship between patriotism and consumer behavior. “Patriotism was full of enthusiasm, and women would confidently hand over their gold jewelery to the volunteers, while the onlookers would cheer. I remember my sister and I would go down the street with our mother and Used to see him making his contribution”, said Anand Mahindra.
Finally, he said, “These assets are the hidden wealth of India”.
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