Gold has long been a symbol of wealth, tradition, and cultural significance in India, especially among women, who share a deep-rooted connection to gold jewellery. It holds a central place in Indian celebrations, particularly weddings, where gold is an essential part of the festivities. Whether in the form of intricate bridal jewellery or simple gold bars, no Indian wedding is complete without the gift of gold. This cultural affinity for gold has led to Indian women accumulating substantial amounts of it, often passed down through generations. As a result, India has become a global leader in gold ownership, particularly in household gold. According to the World Gold Council, Indian women collectively own around 24,000 tons of gold, which accounts for about 11% of the world’s total gold reserves in jewelry form.
The sheer volume of gold owned by Indian women is remarkable. In fact, the total gold owned by Indian women exceeds the gold reserves of the top five countries combined. For comparison, the United States holds 8,000 tons of gold, Germany 3,300 tons, Italy 2,450 tons, France 2,400 tons, and Russia 1,900 tons. Even if the combined reserves of these nations are considered, they still fall short of the gold owned by women in India. According to a report from the Oxford Gold Group, Indian households hold a total of 11% of the world’s gold—more than the combined reserves of the United States, the International Monetary Fund (IMF), Switzerland, and Germany.
Women in South India are particularly significant in terms of gold ownership. The southern region holds 40% of India’s total gold, with Tamil Nadu alone accounting for 28% of it. The World Gold Council’s 2020–21 study indicated that Indian households own between 21,000 and 23,000 tons of gold. By 2023, this figure had increased to approximately 24,000 to 25,000 tons, or over 25 million kilograms of gold—representing a massive portion of the country’s wealth. This gold reserve also plays a role in supporting India’s economy, covering 40% of the nation’s GDP.
In accordance with India’s Income Tax laws, married women are permitted to hold up to 500 grams of gold, while unmarried women are allowed a limit of 250 grams. In comparison, men are restricted to owning only up to 100 grams of gold. This reflects the significant role that gold plays in Indian culture and the considerable value placed on women’s ownership of gold as both a symbol of wealth and a safeguard for the future.