Demand for platinum jewellery is on the rise in India, according to a new report published today (5th February) by Reuters.

The country is famed for its love of buying gold jewellery - particularly for festivals and wedding seasons - but platinum has not been as closely tracked historically, with only a few companies importing bars.

However, a number of jewellers are now reporting a substantial rise in interest from consumers who are looking to purchase luxury pieces.

Sheetal Darji, a member of the sales team at Anmol Jewellers in Bandra, Mumbai, told the news provider: "Suddenly, the number of people coming and buying from my counter has increased.

"Earlier I used to handle one to two buyers daily, now the number has increased to four to five."

Those sentiments were echoed by Ishu Dattani, a partner at the company, who noted that sales have increased by between 20 and 25 per cent in the past six months alone.

Consumers such as Shweta Arora, a partner at an investment bank, are beginning to realise the value of platinum jewellery, whether it be for engagement rings, wedding bands or a present for a relative.

Contemplating purchasing a stunning platinum necklace, she told Reuters: "I wanted to buy a gift for my sister-in-law, who is a South Korean staying in the United States."

According to the news provider, Princeson Jose, Director of Princeson Jewellers, believes that demand will increase by a further ten per cent by next year.

Source:

Gold crazy Indians take to platinum; prices help (05/02/09)
http://in.reuters.com/article/domesticNews/idINBOM16738720090205?sp=true