Plans to Organize ‘PLAT Competition’ in India

Mumbai: ‘We are planning to organize ‘PLAT Jewellery Design Competition’ in India also,” said Ms. Vaishali Banerjee, Country Manager of India Platinum Guild International (PGI).

While addressing a media conference organized to welcome winners of the ‘PLAT AFRICA 2016’ jewellery design competition in Mumbai, she said “We are in discussion with Anglo American, the organizer of PLAT AFRICA competition to organize this competition in India also to create more awareness about platinum here. We expect to finalize format and terms of the competition in a few days.”

Speaking about the sales and demand of platinum, Ms. Banerjee said, “Demand for platinum remained robust in India in the H2 of 2016 as preference for the metal continued to grow among young consumers amid a 10 to 12% price difference with gold. Evara — which was earlier available at Rs 4 lakh, is now available at Rs 2 lakh. This has become popular among young brides. Platinum jewellery witnessed a mixed trend in global markets in the first half of 2016.”

“We are expecting double-digit growth in India in 2017-18 as young Indians are now more keen on buying platinum either for themselves or as a gift, and that is “very different” to the traditional gold jewellery market in India,” she said.