Position of India in Gold Market
According to the World Gold Council, India ranked 13th in the world in terms of official gold holding in March 2008 and 2009. However, with the purchase of 200 metric tonnes of gold by the Reserve Bank of India from the International Monetary Fund under the IMF’s limited gold sales program, India’s rank increased to 10th position in March 2010, with official gold holding of 557.7 metric tonnes. The purchase was part of the Reserve Bank’s foreign exchange reserves management operations.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Lok Sabha today.
According to the World Gold Council, India ranked 13th in the world in terms of official gold holding in March 2008 and 2009. However, with the purchase of 200 metric tonnes of gold by the Reserve Bank of India from the International Monetary Fund under the IMF’s limited gold sales program, India’s rank increased to 10th position in March 2010, with official gold holding of 557.7 metric tonnes. The purchase was part of the Reserve Bank’s foreign exchange reserves management operations.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Lok Sabha today.
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