Akshay Tritya will reinforce that gold still remains a preferred option for investment by the common man. It can always be liquidated in times of need. Standard gold and ornaments have surged to a record high.
GJF estimates that sales across the country will grow by 15% as compared to the last Akshay Tritiya.
Mr. Vinod Hayagriv, Chairman, All India Gems and Jewellery Trade 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 Akshay Tritya despite the higher prices since the yellow metal is expected to either stabilize at this level or even rise further.”
Another significant development is that better technology and organized manufacture is taking place in the country over the last 18 months. This transition is helping make the same jewellery and newer versions of jewellery lighter. An example is making a bangle earlier was say: 40 gms a pair. Now with computer numeric controlled machines the same bangle is possible to be made at 34 gms. Thereby earlier Rs 1200 pg rate and now Rs1800 pg rate makes a marginal difference of Rs 13200 only as against Rs24000. (40gmsx1200/- vs 34gmsx1800/- vs 40gmsx1800/-).
Such and more new methods reduce the cost of ownership for consumers thereby making jewellery more affordable.