With Indian jewelry market already on the sturdy restoration path, the jewellers expect sturdy Diwali gross sales within the Dhanteras because the festive temper stays excessive with low Covid third wave chance and softer gold worth this season.
The business expects the traits in 2021 will have the ability to attain pre-covid degree gross sales of 2019 on the again of gold worth hovering at Rs 46,000-47,000 per 22 carat 10 grams gold practically 5 per cent decrease than 2020, and soar in variety of weddings, a senior official of an business physique mentioned.
“Since Navratri market is displaying demand. It should proceed on Dhanteras additionally. This yr the festive temper is robust with the pandemic remaining below management, decrease gold costs and robust wedding ceremony season. This yr October-November months will account for 40 per cent of yearly gross sales,” All India Gems and Jewelry Home Council chairman Ashish Pethe instructed PTI.
The nationwide apex physique of the gems and jewelry business expects that in 2021, the business will have the ability to revert again to pre-covid pandemic yr of 2019. Nonetheless, gold worth guidelines