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Poosarla Sai Karthik
Tech guy with a busi... • 10h
Why India’s Tax Stats and Gold Love Tell a Unique Investment Story Did you know only 5.9 percent of India’s vast population pays income tax, but nearly every household treasures gold not only as jewellery but as a trusted financial foundation? Here is how the numbers reveal India’s special relationship with gold > Gold is universal in India. Even among the 94 percent of people who do not pay tax, gold is an everyday asset for tradition and savings alike. > Huge appetite. In 2024, India bought 802.8 tonnes of gold, worth ₹6.25 lakh crores, spending 2.1 percent of national income. Weddings spark nearly half of this, and investment accounts for 30 percent of demand. > Across the income spectrum Average non-taxpayer: 0.34 grams per year Top taxpayers earning 25 lakh and above: 12.8 grams per year Still, lower-income rural groups drive over half of total gold buying > Middle-class magic. Those earning 10 to 25 lakh spend the highest share of income, three percent, on gold, balancing culture with conscious investing. > Gold is more than wealth. For every Indian, rich or poor, gold represents security, trust, and celebration. Look at the chart below Gold buying increases dramatically with income, but cultural love makes gold universal in India * Annual gold consumption varies dramatically by income level, with the highest earners consuming nearly 38 times more gold per person than non-taxpayers * Takeaway: No matter your background, gold stands at the heart of India’s culture, economy, and resilience, making every purchase a story of tradition and trust.
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