October , 2019
Dhanteras boost to Indian jewellery
14:34 pm

Ellora De

Dhanteras is the most auspicious day to buy jewellery for Indians. With the ongoing festive season, the gems and jewellery market is looking to expand sales this Dhanteras.

According to an India Brand Equity Foundation (IBEF) report, of August 2019, the gems and jewellery sector plays a significant role in the Indian economy, contributing around 7% of the country’s GDP. However, soaring gold prices may act as a dampener but Indian jewellers bank on the fast approaching wedding season to make up for any shortfall.

Anjali Jewellers is an eminent jewellery chain of West Bengal that also has an e-commerce portal. Annargha Uuttiya Chowdhuury, Director, Anjali Jewellers, told BE, “Dhanteras is the biggest festival for jewellers all over India. Jewellery brands have loyal customers because of their designs and transparent pricing strategy.” He added, “We offer a wide array of pocket-friendly jewellery, which are made from gold, diamonds, and silver. We offer attractive discounts so that clients get value for money. We are hopeful that the market for gold jewellery will be very strong because of the coming wedding season. Gold is considered an auspicious metal for wedding jewellery.”

Chowdhuury said, ''Nnoni a segment of Anjali Jewellers, specialises in silver and costume jewellery, which are meant to be worn anytime. The designs are extremely pocket-friendly; the prices start from `350 onwards. Dhanteras attracts clients who want to wear jewellery for the festive season as well as for regular wear and that is what Nnoni provides them. The market for silver and costume jewellery is very strong. We are expecting high sales this Dhanteras.”

The jewellery sector is lately experimenting with designs. Fusing traditional designs with modern aesthetics is a prominent trend in the market. Chowdhuury said in this context, “We keep on working on new designs and therefore whatever jewellery the clients buy from us are made keeping today’s women in mind.”

The jewellery sector employs over 4.64 million workers and is expected to employ 8.23 million by 2022. A growth of the sector will boost employability.The sector is also  export-oriented and labour-intensive.

Dwiti Bhuwalka, Owner, Pretios, a jewellery line, told BE, “Dhanteras is a time for celebrations and reverence to Goddess Lakshmi, the Hindu goddess of prosperity. This is why investing in gold and silver and treating yourself or others to jewellery is an important part of the celebration. The festive season is the time when the industry witnesses a rise in demand for jewellery. The annual sales increase up to 45% because of the season’s demand and we are expecting a hike in our sales during Dhanteras.”

She said, “We have ensured that our customers get what they are looking for; hence we plan to stock up to satisfy the needs of the shoppers. The festive rush has its cons like delayed pickups and deliverables so this season we are already prepared to handle all kinds of situations."

Abhishek Kajaria, owner, Avama Jewellers, told BE, “Last year was the first Dhanteras for Avama Jewellers, and the response was overwhelming for all our divisions. But if I have to name one, the response for our gold jewellery was phenomenal. The temple and antique jewellery collections were well received by our customers." He added, “This year we are launching new, more intricate and exquisite collections, sourced from the finest craftsmen in the country. There is an all new gold and diamond range crafted to suit all age groups. We have also introduced the ethereal Navratna collection where we have tried to bring back the charm and grandeur of the Mughal era.”



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