Mumbai: In India, the Platinum Guild International’s (PGI) marketing efforts are helping drive the rapid growth in platinum jewellery demand. Demand in June was also boosted by a rush to buy jewellery to take advantage of the lower prices just before the introduction of the new Goods and Services Tax (GST) from 1 July.

Ms. Vaishali Banerjee, MD India, PGI in an exclusive interview with G2J said, “Organized trade has welcomed GST at 3% which has brought in standardized taxes. Currently the challenge is implementation, which most of our partners are already working on. The demand for Platinum jewellery in India is driven by consumers who want to celebrate emotionally significant moments in their lives which cannot be postponed.”

“We have already seen platinum jewellery sales grow at 42% from Jan-June 2017 with our key strategic partners and the overall expectations are high for H2 2017. According to our annual Retail Trade Barometer study, the projected growth for platinum jewellery is at 22%,” she added. (Read more here)