Answer by Balaji Viswanathan:
India has 3.288 million km² of land. 1 km² is about 247 acres. In other words India has 810 million acres of land.
I don't know the land prices of each piece of property. Thus, I will take a sampling done by ET –. Of course, some of the rural land will be unusable mountains & forests, while others might be precious metropolises like Mumbai. Thus, they sort of even out. I will just use a conservative figure of Rs. 1 million per acre for India.
That means the total land value of India is Rs. 810 trillion. That is about $13 trillion.
Let's add the minerals:
- Coal: We have 301 billion tons of coal –. A ton of coal costs about $56 now. . That means our coal reserves alone is about $18 trillion.
- Oil: There is about 5.62 billion barrels of oil. At today's price of $80/bbl that is about $4 trillion.
- Gas: India has 1,437 billion cubic metres of gas. One Cubic Metre can get about $0.5. Our natural gas reserves is about $0.7 trillion.
- Iron: India has about 27 billion tonnes of iron ores. 1 DMT is $82. This about about $1.6 trillion.
I will just add the rest of the mineral resources at $10 trillion. That means India's total mineral reserves is about $34 trillion.
Just the land and the mineral reserves alone would be worth more than $47 trillion. I didn't add the value of forestry, the value of buildings, etc. Together we are looking at a value not less than $60 trillion [without the people, of course]. To put that in context, US annual GDP is ~$15 trillion.