Overview

• The Reserve Bank of India (RBI) held 879.59 metric tonnes of gold as of March 2025, the highest in seven years, with 511.99 tonnes stored domestically.
• Gold now constitutes 11.7% of India's total foreign exchange reserves, up from 9.32% in September 2024, reflecting strategic diversification.
• In the second half of FY25, the RBI added 25 tonnes of gold, contributing to a total addition of 57 tonnes for the fiscal year.
• Overall forex reserves fell from $705.78 billion in September 2024 to $668.33 billion in March 2025, reducing import cover from 11.8 to 10.5 months.
• Repatriation of gold from overseas slowed significantly, with only 1.53 tonnes brought back in H2 FY25 compared to 102.15 tonnes in H1.