Chennai sources reported that Vaishali Banerjee, Managing Director India, and Platinum Guild International (PGI) that the investment in precious metal, in India, mostly means investing in gold for the middle and upper middle class families, but then, platinum is more precious and a far better investment option.
Accordingly the sale of platinum jewelry has been single-handedly spearheaded by PGI, especially in four countries India, China, USA, and Japan. Presently India has been in the forefront of this growth, despite challenges from new legislation such as demonetization or the introduction of the Goods and Services Tax (GST). Vaishali said Bridal trends and the love-gifting strategy have helped retailers find a foothold in the gold-dominated industry. "Designs inspired by global trends and the distinct emotional positioning of platinum make it the preferred choice of millennial”.
Moreover the young consumers, especially brides have contributed to the
demand growth the last year. Furthermore some areas have even outperformed the
consumer retail sales growth of gold here. Suvankar Sen, Director of Senco Gold
& Diamonds said "This generation wants novelty and versatility in
jewelry which platinum offers in abundance”. She added “Consumers are well
aware of platinum, with the 'spontaneous awareness' index being as high as 74%
last year”.
