Jewellers hopeful to clock better sales this Akshaya Tritiya

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Jewellers are hopeful to clock better sales this Akshaya Tritiya, as this year it coincides with wedding season, and also they feel that the industry has come out from the effects of demonetisation and GST (Goods & Services Tax).

Ahammed MP, chairman, Malabar Gold & Diamonds said: “We witnessed an uptick of good percentage during last Akshaya Tritiya. We are bullish about this year too. More importantly, this coincides with the wedding season, which is another prime trigger for gold sales in India. Also, the industry has come back to its normalcy after the hiccups such as demonetisation and GST and there are a number of positive triggers.

Abhishek Bhansal, founder & chairman of ABans Group of Companies feels that gold at the current market price is undervalued, and has scope for growth. “A personal portfolio can have 7-15% investment in gold, as a hedge against turbulent times. Today’s investor is privileged and can invest in gold in multiple formats, at a transactional value which is lowest in history”, he added.

Aditya Pethe, Director, WHP Jewellers is expecting an increase of 15-20% in sales this year. Like Pethe, Ishu Datwani, founder, ANMOL is also expecting 25-30% increase in sales this year.

Source: Economic Times