Customers throng a jewellery shop on Akshaya Tritiya day in Bengaluru yesterday.
IANS/New Delhi
Jewellery retailers yesterday reported a 25% rise in sales after buyers flocked to gold shops on the occasion of Akshaya Tritiya.
Akshaya Tritiya is a holy day for Hindus and Jains, and is believed to bring good luck and success in whatever endeavour one undertakes on this day. It is considered to be auspicious to bring home gold on this day.
“We have been hard-selling Akshaya Tritiya for a week as many customers prefer to buy their favourite ornaments ahead of the auspicious day to avoid crowd and last-minute rush,” Deepak Jain of Dhanalakshmi Jewellers in Bengaluru said.
Pankaj Parekh, vice-chairman of Gems & Jewellery Export Promotion Council, said sales are expected to be higher across the country as in March the import of yellow metal was on the higher side. According to reports, India’s gold imports more than doubled to 125 tonnes in March from 60 tonnes in the same period a year ago.
“More than a belief, it’s a sentiment among the Hindus to buy gold and silver ornaments on this day for personal use or gift them to their near and dear as a means of blessing or to wish them prosperity through the year,” Jain said.
“More and more people are now buying gold on Akshaya Tritiya day in Chennai which is a good sign for the industry,” Jayantilal Challani, president of Madras Jewellers and Diamond Merchants Association, said.
“This year there are a couple of positive points for the trade to expect at least 15% sales growth compared to last year’s Akshaya Tritiya. The gold prices have come down this year. There is a difference of around Rs2,200 per sovereign this year compared to last year’s price,” Challani added.