Akshaya Tritiya marks brisk sales of gold, jewellery

Hyderabad: In search of good fortune on the auspicious Akshaya Tritiya day, the buyers flocked jewellery shops here on Tuesday. The retailers claim that they have sold gold and jewellery which may be about 25 per cent higher than a normal day.Akshaya Tritiya, is an auspicious day for Hindus and Jains, who believe that it will bring good luck and success, if they undertake any work and people consider auspicious to bring home gold on that day.

According to Kalyan Jewellers executive director, Ramesh Kalyanaraman, "We have registered 30% growth in gold jewellery sales today. While gold prices declined about 10 per cent over last year, the sales increased on Akshaya Tritiya day in all the categories including chains, bangles and rings."

Speaking on the occasion Sandeep Kulhalli, Senior Vice President – Retail & Marketing (Jewellery), Tanishq says "Over the past week, we have been witnessing a positive response from consumers. We are very positive on the sales trends so far and should see an increase over last year's sales. This year, customers have opted for plain gold jewelry across the chains, bangles and coins categories; including wedding jewelry. Compared to last year, consumer sentiments have certainly shown improvement."

Vice-Chairman, Gems & Jewellery Export Promotion Council, Pankaj Parekh said that the sales are expected to be higher across the country as in March the import of yellow metal was on the higher side.According to reports, India's gold imports more than doubled to 15 tonnes in March from 60 tonnes in the same period a year ago. Leading gold and jewellery showrooms in Hyderabad including Gitanjli Jewels, Joyalukkas, Titan, Tanishq, Nakshatra, GRT Jewellers, Khazana, Kirtila's, TBZ lured customer with attractive discounts and freebies.