Gitanjali Group Chairman and Managing Director Mehul Choksi told PTI that business today has been brisk according to reports coming from his stores across the country.
“Going by the momentum, we expect about 35 per cent growth in sales compared to last year,” he said adding the preference is more towards gold jewellery rather than coins or bars due to the upcoming wedding season.
Shree Ganesh Jewellery House Marketing Head Rahul Singh said, “The footfalls are very high and we expect more than 35 per cent growth in sales compared to last year. After the strike, people were waiting for Akshaya Tritiya to buy jewellery,”
Being a working day, the sales would pick up late in the evening, he said adding that the company was expecting around Rs 10 crore business today.
Sandeep Kulhalli, Vice President-Retail and Marketing of Tanishq, said there has been a good pick up on the sales front since the last 3-4 days.
“The market has been buoyant and as expected there has been a surge in performance compared to last year. Gold and diamond prices have been relatively stable which has worked in our favour. Post the strike, and with the upcoming wedding season, we are confident of achieving double-digit growth,” he said.
Gold prices was today ruling over Rs 29,000 per 10 grams.
Former Chairman of All India Gems and Jewellery Trade Federation Ashok Minawala said that reports from across the country have been positive barring a few cities in the north, where Akshaya Tritiya might not be that popular.
“We expect 10-15 per cent growth in sales compared to last year. The sales of jewellery is more than the coins in the ratio of 60:40 per cent,” he added.