TIL Desk/Business/Mumbai/ Jewellers called Akshaya Tritiya on Friday to be the best they have had since 2013, with demand rising 30 per cent as compared to last year in volume terms. The number of customers was 50-60 per cent higher, due to a greater preference for lower-price jewellery, in the range of Rs 30,000-50,000.
Somasundaram P R, India managing director for the World Gold Council, said: “Festive sentiment among both trade and consumers appears to be stronger this Akshaya Tritiya as the industry emerges steadily from a period of sluggishness during and immediately following demonetisation.
Gold’s attractiveness as a preferred asset class is enhanced this season by an appreciating rupee and its impact on price, as well as a sharp rise in stock markets. Various trade offers and promotions point towards increasing momentum, though challenges remain regarding the transition to GST (the coming national goods and services tax) in the next quarter.”
