Jewellers hope to sell more this Akshaya Tritiya

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Corporate Reporter

CHENNAI: Akshaya Tritiya will reinforce that gold still remains a preferred option for investment by the common man. It can always be liquidated in times of need. Prices of standard gold and ornaments have surged to a record high. The all-India Gems & Jewellery Trade Federation (GJF) estimates that sales will grow by 15 per cent this Akshaya Tritiya as compared to the last Akshaya Tritiya.

Vinod Hayagriv, Chairman of the federation, said “This year with the economy booming and all industries doing well, we are confident that consumers will stock up gold as an investment for Akshaya Tritiya despite higher prices.”

Another significant development is that better technology and organised manufacture is taking place over the last 18 months. This transition is helping make the same jewellery and newer versions of jewellery lighter. An example for making a bangle earlier was say: 40 gm a pair. Now with computer numeric controlled machines, the same bangle can be made with 34 gm.

The earlier Rs. 1,200 per gram rate and now Rs. 1,800 per gram rate make a marginal difference of Rs. 13,200 only as against Rs. 24,000 (40 gm x 1,200 v 34 gm x 1,800 v 40 gm x 1,800).



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