Monday, 9th May 2005 (4485 views)

The annual Akshaya Tritiya festival in India has become a day when gold buying in the country reaches a peak.

The World Gold Council (WGC) in India is supporting a number of initiatives that will see gold sales for the festival, one of the four most auspicious days of the Vedic calendar, soar across India.

Akshaya means never-diminishing and stands for prosperity, so gold and gold jewellery are bought and worn to signify never diminishing good fortune.

"WGC supported initiatives around Akshaya Tritiya in the south last year and seeing that response, this year we have taken a pan India view with special focus in the states of Maharashtra, Gujarat, Madhya Pradesh, Delhi and Punjab," K Shivram, vice-president of the World Gold Council, said.

Last year about 15 tonnes of gold were sold on Akshya Tritiya and the WGC estimates that this will increase by 20 per cent this season, the Business Standard reports.

Both branded and traditional jewellers are aiming to exploit the demand for gold at Akshya Tritiya. Branded retailer Tanishq has hired danseuse and actress Shobhana as the brand ambassador and announced a "pre-book eternal prosperity and get 10 per cent off on making charges" for the festival. The company has also released a range of options in traditional and contemporary designs in pure 22k gold and diamond jewellery that reflect the essence of prosperity.

Traditional jeweller Chemmannur Jewellers expects a 40 per cent rise in sales compared to last year's festival period. The firm is also offering discounts and has commenced pre-booking.

 

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