Search Global Export Import Trade Data
Recent Searches: No Recent Searches

India’s platinum imports to rise as prices fall.

Date: 27-05-2019
Subject: India’s platinum imports to rise as prices fall
Kolkata: Platinum imports into India are set to rise this year as its prices have declined steeply relative to gold, fuelling an increase in demand for the precious metal globally used for encasing diamond jewellery. 

Imports may climb up to 18 per cent to 7.08 tonnes this year as platinum has become cheaper by Rs 8,090 per 10 gm in comparison with gold, said Vaishali Banerjee, MD, India, Platinum Guild International (PGI). 

“Imports were at 6 tonnes in 2018,” Banerjee said. 

The PGI India chief said that the consumers buy platinum jewellery to mark significant emotional milestones in their lives. The rarity of the metal and availability of internationally inspired designs have influenced purchasing decisions for both women and men. 

“Furthermore, the PGI marketing program has always created unique occasions for platinum jewellery purchase, infusing meaning into design and purpose,” Banerjee added. “These factors have helped create a strong consumer desire for platinum, and lower metal price has aided in converting that desire into demand.” 

Platinum is currently priced at Rs 24,490 per 10 gm. 

During Akshaya Tritiya, platinum jewellers reported a 35 per cent growth in sales, with certain regions reporting even higher off-take. “Consumer demand for platinum has been growing consistently, and we found that this latent demand converted into actual sales on Akshaya Trithiya. Our retail partners suggest that there has been a positive demand across all platinum categories and cities,” the PGI India chief said. 

Jewellers also said that platinum sales are rather brisk this year. “With increased awareness, platinum today ensures younger walk-ins at our showrooms. We plan to take platinum along as we expand into tier 2 and tier 3 cities,” said MD of GRT Jewellers India, GR Ananthapadmanabhan. 

GR Radhakrishnan, the other MD at GRT Jewellers India, said, “Apart from rings and bands, the demand for men’s jewellery in platinum has been growing consistently, making it one of our incremental lines of business today. We expect the platinum category to grow in the coming years.” 

Retailer said that demand for the metal is increasing in smaller towns as well. 

“There is an increased awareness about and desire to own platinum beyond just urban cities,” said Rajesh Kalyanaraman, executive director, Kalyan Jewellers. 

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 30-10-2021
Notification No. 78/2021-Customs (N.T.)
Seeks to amend Sea Cargo Manifest and Transhipment Regulations 2018.

Date: 13-10-2021
Notification No. 48/2021-Customs
Seeks to reduce BCD on crude and refined soya, sunflower and palm oils till 31.03.2022

Date: 13-10-2021
Notification No. 49/2021-Customs
Seeks to reduce AIDC on crude soya, sunflower and palm oils till 31.03.2022

Date: 07-10-2021
Notification No.80/2021 - Customs (N.T.)
Exchange rates Notification No.80/2021-Cus (NT) dated 07.10.2021.

Date: 07-10-2021
Notification No. 35/2015-2020
Relaxation in Export Policy of Red Sanders Wood - regarding

Date: 06-10-2021
Public Notice No. 21/2015-20
Implementation of MoU between Government of Republic of India and Government of Republic of Malawi for import of pigeon peas from Malawi - reg.

Date: 05-10-2021
Instruction No. 21/2021-Customs
Submission of Intimation of Arrest Report & Incident Report.

Date: 04-10-2021
Notification No. 34/2015-2020 – DGFT
Amendment in Export Policy of Syringes and incorporation of Policy Condition.

Date: 04-10-2021
Public Notice No. 27/2015-2020-DGFT
Allocation of quantity of 5841 MT (raw/refined) Sugar to EU under TRQ scheme for the year 2021-22

Date: 04-10-2021
Notification No. 59/2021-Customs (ADD)
seeks to extend anti dumping duty on 'ceramic tableware and glassware' originating in or exported from Malaysia, to prevent the circumvention of anti dumping duty levied on subejct goods originating in or exported from China PR vide Notification No. 4/2018-Customs(ADD) dated 21st February, 2018.

Exim Guru Copyright © 1999-2021 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001