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This Akshaya Tritiya, gold to sparkle, say Tanishq, Kalyan Jewellers
April 29, 2017
- Leading jewelers in the country, such as Tanishq, Kalyan Jewellers and Malabar Gold and Diamonds have told FE that they expect a way better Akshaya Tritiya this time while some other large jewelers have projected up to 30% jump in their sales.
- A 4% drop in prices from last Akshaya Tritiya, spilling over of pent-up demand following the note ban, strengthening of the rupee that has made the precious metal imports cheaper and better consumer interest is the key drivers of sales this time.
- However, small neighborhood jewelers — once the life line of jewelry trade in India— say they expect sales growth to be muted at just around 5-10%.
