Report Ocean has recently published the “India Gold Loan Market” Research Report 2023-2030, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2030.
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The gold loan market in India was valued at ~INR 2,921.42 Billion in 2019 and is expected to reach ~INR 6,275.40 Billion by 2025, expanding at a compound annual growth rate (CAGR) of ~12.75% during the 2020-2025 period.
Gold is considered a symbol of social status, financial security, and cultural legacy in India. As of 2019, households in India held about 25,000 tons of gold, making the country the largest holder of the yellow metal globally. Rural communities account for ~65% of the total gold demand in the country. Due to the sentimental value that Indians associate with gold, people seldom sell it to meet financial emergencies. They prefer to pledge gold as collateral to secure short-term loans. Gold loans enjoy a relatively low-interest rate that varies between 9.5% and 24%, with flexible tenure ranging from a few days to 5 years.
The Indian gold loan market is segmented into the organized gold loan market, also known as the formal gold loan market, and the unorganized gold loan market or the informal gold loan market. The unorganized segment, which includes money lenders and pawnbrokers, accounts for more than 60% of the gold loan market in the country. Nevertheless, the organized sector, including public banks, private banks, small finance banks, co-operative banks, NBFCs, and Nidhi companies, is anticipated to expand exponentially during the forecast period.
NBFCs constitute the largest share of the organized market. Customers residing in rural parts of the country are gradually switching to these NBFCs, owing to quick loan processing, systematic gold valuation, auctioning, and safe-keeping. Banks also offer gold loans, but they primarily consider these as their priority sector lending (PSL) requirements. Further, small finance and Nidhi companies represent the co-operative segment in the Indian gold loan industry, accounting for ~12.98% of the organized gold loan market. Private sector banks are also gradually entering the Indian gold loan market with tech-driven offerings like online gold loan services.
The Indian gold loan market has witnessed a positive impact on business during the nationwide lockdown due to the COVID-19 pandemic. Gold loan products have experienced rapid growth compared to other retail banking products during this period. Due to economic distress and job losses, gold is acting as an insurance policy as well as a retirement plan across India. People are availing gold loans to fulfill their immediate fund requirements. Moreover, demand for gold loans is expected to expand further as risk profiles of borrowers have depreciated considerably and lenders are becoming risk-averse. Many NBFCs are facing liquidity crises, which are deteriorating their liquidity capacity. Therefore, gold loans are becoming a fallback plan for borrowers who are denied loans through regular channels.
Key companies in the Indian gold loan market include Axis Bank of India, Central Bank of India, Federal Bank Limited, HDFC Bank Limited, ICICI Limited, Kotak Mahindra Bank Limited, Manappuram Finance Limited, Muthoot Finance Limited, State Bank of India, and Union Bank of India.
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The report addresses the following key questions regarding the India Gold Loan market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of India Gold Loan in the market?
- How are regulatory policies and government initiatives impacting the growth of the India Gold Loan market?
- What is the market share of the top 5 players in the India Gold Loan market and how is it likely to change in the future?
- What are the latest technologies and innovations in the India Gold Loan market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the India Gold Loan market?
- What are the challenges related to the supply chain and logistics that India Gold Loan market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the India Gold Loan market?
- What are the potential risks and uncertainties associated with investing in the India Gold Loan market, and how can they be mitigated?
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(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of India Gold Loan market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the India Gold Loan market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the India Gold Loan market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate India Gold Loan business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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