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Demand for platinum very strong, says PGI India

Updated : August 31, 2019 05:20 PM IST

PGI India on Saturday said the demand for platinum is very strong in jewellery and this is across all the consumer segments after it hits a near 16-month high on August 30.

In an interview to CNBC-TV18, Vaishali Banerjee, managing director, said, "H1 sales at an overall market level are up around 20-25 percent. Jewellery fabrication is also up. So, it looks like it is going to be a good year."

Speaking about the buying trends, she said, “The market has been clocking anything between 20 percent and 25 percent growth over the last three years. It was a blip in 2016 when it was down, but apart from that, 2017, 2018 and 2019, we are seeing this kind of growth. Last year at an overall market level it was about 20 percent up, this year so far it is close to 25 percent up. We expect the year to end in similar percentage terms."

On new launches, Banerjee said, “In 2019, we have launched a new segment, this is men’s jewellery. It has been in the market over the last two years and it has been clocking very strong growth. In 2019, you will see that there is an industry push behind this segment with the new collection. So we are expecting this kind of growth to continue."
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