With the fall in platinum prices in India, the country is expected to see a rise in imports of this precious metal which is used in the manufacturing of fine jewellery. According to the Platinum Guild International (PGI), imports may climb up to 18 per cent to 7.08 tonnes this year as platinum has become cheaper by Rs 8,090 per 10 gm when compared to gold. This is a significant increase from 6 tonnes in 2018. The current price of platinum stands at Rs 24,490 per 10 gm.

With festival driven marketing tactics, growing awareness and a desire to celebrate important milestones, India has seen a steady growth in the purchase bahviour of this metal. Akshaya Tritya saw the sales of platinum jewellery up by 35 per cent with certain regions reporting an even higher growth rate. As consumer demand for platinum is growing consistently, the latent demand for this precious metal has converted into actual sales. Retailers have reported a positive demand across all platinum categories and cities.