Jewellers line up discounts to entice consumers on Akshaya Tritiya

Gold demand in India is picking after slow sales in the last couple of years

Jewellers in India are lining up discounts to entice consumers on the second-biggest gold-buying day in the Hindu calendar.

Hindus buy valuables including gold and silver on Akshaya Tritiya, which falls on Tuesday this year, in the belief that it will bring luck and prosperity. That faith coupled with discounts and an about 7 per cent drop in prices from an over five-year high in February is underpinning jewelers’ expectations for brisk sales.

Retailers like Malabar Gold & Diamonds are offering as much as 50 per cent off on jewelry-making charges, while Tata Group’s Titan Co. is giving a discount