Akshya Tritiya has a special significance for Indians. People celebrate the day by doing good deeds to earn 'punya' and buying gold, silver and other valuables.
It is also also believe that Parashurama, the sixth incarnation of Lord Vishnu was born on this day.
Barley, the ingredient of Indian dishes was created on Akshaya Tritiya. On this day, people bathe in a holy river, indulge in charity, perform japa and offer barley in a sacred fire.
They also offer barley preparations to the deity.
It is considered auspicious to buy gold, silver, diamond or any other precious metal on the day. Hence, the jewellery showrooms in Bangalore have donned a whole new look – very festive and auspicious in appeal.
The entire family throngs the shops and it sure is a tough time for the salespersons at the counters.
Choosing, negotiating and buying goes non-stop and many salespersons enjoy giving a few tips on selection of ornaments or articles to the customers. Buying is not all-women affair, many male members of a family show keen interest in taking decisions.
Gone are the days, when male members just used to empty their wallets after a bill was thrust in their hands. Now, women members ask for their opinions before the item is packed and male members feel happy being final judges.
For Bangalore jewellers, Akshaya Tritiya is not only the day to sell their specialty jewellery but also an occasion to add new customers to the already existing clientele. Many jewellers opine that Bangaloreans are well informed and before they enter the shop, they have a fair idea of the gold price, latest trends and designs. Bangalore customers are choosy and if the designs do not suit their tastes, they do not hesitate to walk out of the shop, said a well-known jeweller.
They are conscious of the fact that they do not want to become a victim of irregular metal quality. Many Bangaloreans invest on gold from their disposable income rather than taking a loan, jewellers say. The rising number of millionaires in Bangalore has also contributed for the surge in demand for gold jewellery.
A software professional says that her engagement coincides with Akshaya Tritiya and she plans to buy more jewellery apart from the engagement ring because "gold has the highest liquidity value".
She plans to buy trendy yet light designs although her mother prefers traditional jewellery.
Investments bankers say that an ideal investment portfolio generally consists of assets provide optimal returns and minimize risks. They recommend gold as an asset of choice.
Siler and diamonds too are considered auspicious and young professionals are showing keen interest investing in diamond jewellery.