Recently in the context of looming festive season, Colin Shah, MD, Kama Jewelry said, the Gem & Jewellery (GJ) sector domestically has been performing well as compared to the global market scenario.
The resilience in the Indian economy is reflected in the empowered purchasing ability of consumers and we look forward to seeing this trend further strengthen with the onset of festive season. The price correction in gold after the custom-duty cut will be passed down to the buyers, ultimately driving up sales.
Buyers are eventually but steadily shifting from the traditional hobby of investing in bullion and gold-forward jewellery. Instead, the demand for lightweight or contemporary jewellery is gaining significant traction, influenced by the buying habits of young demographics. Due to this, we look forward to an uptick in demand by 10-15% during this phase as compared to the rest of the year.
The gems & jewellery sector has witnessed a dull period in exports for the longest time and the sales during this festive season will bring in some respite. Overall, we look forward to a robust performance of the sector during this period.
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