The most significant gold shopping day in India is Akshaya Tritiya. It is widely celebrated across the country, including the northern, southern, and western regions. Similar to Gudi Padwa, we anticipate a surge in consumer enthusiasm during Akshay Tritiya, This is primarily due to its occurrence during the peak wedding season. Akshay Tritiya holds great importance as a dedicated shopping day, and gold is considered to be the most preferred option amongst buyers. Gold is a reliable store of value and is considered as an auspicious purchase on this day.
Considering these factors, I expect a positive performance during Akshaya Tritiya. While the sale of gold in value terms is likely to surpass last year’s levels due to increased rates, we also foresee an increase in sales volume. The industry should be able to achieve a growth of approximately 10 to 15 percent in quantity terms year on year and a 35 to 40 percent growth in value terms year on year.
–Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers
