National News
Platinum Guild International (PGI), India’s 2024 Buyer-Seller Meet
A Multi-City Celebration of Tradition, Style, and Spiritual Significance—Special Akshaya Tritiya Showcase Set for Edison, New Jersey
Shaping Platinum’s Future
Platinum Guild International (PGI) India concluded yet another successful edition of its annual ‘Platinum Buyer-Seller Meet,’ on the 4th and 5th of July 2024. Every year, the prestigious event, brings together the leading names from across the jewellery industry and offers them a platform to collaborate and work towards collective business development for platinum. Held at the Grand Hyatt, Kochi, the recently concluded event, continued to serve as a significant business opportunity for partner retailers and manufacturers under the PGI program to share new designs, innovations, cutting edge technology and best practices while reviewing the latest platinum jewellery collections.
The energy and enthusiasm across the manufacturer booths reaffirmed the growing demand for platinum jewellery across all three PGI brands – Platinum Evara, Men of Platinum and Platinum Love Bands. Retailers were given an exclusive preview of the highly anticipated MS Dhoni Signature Collection, set to launch later this year, just in time for the festive and wedding season. The overall demand for platinum was evident in the substantial purchases and restocking undertaken by the retailers for the upcoming season. This event set a positive tone for the months ahead, with an air of optimism and confidence.
The event witnessed a key announcement on the metal innovation front as well, with the creation of a new platinum alloy that has the potential to transform platinum jewellery design and manufacturing. Inoveo Platinum, has been formulated in response to the challenges jewellers experience when working with platinum.
In his presentation Benny Oeyen, Executive Head of Market Development for Platinum Group Metals, Anglo American said, “Inoveo Platinum will provide the jewellery industry the best that platinum can provide. It is a new platinum alloy created with the help of artificial intelligence and digital chemistry to reflect the workability of white gold, while enhancing the core properties of Platinum, including its naturally white colour, durability and wear resistance. So Inoveo Platinum is all about the benefits of Platinum with the ease of white gold. It will help transform platinum jewellery design and manufacturing.”
The evening gala dinner was prefaced by very informative speeches and presentations by Vaishali Banerjee, Managing Director, PGI India and Tim Schlick, Chief Executive Officer, Platinum Guild International (PGI) outlining the accelerated growth of platinum jewellery in the Indian market. Sujala Martis, Director Consumer Marketing, shared the marketing programme line-up for the season. The exciting new marketing initiative with M S Dhoni got an overwhelmingly positive response. The Evara Squad, a unique idea to build cheerleaders and brand evangelists for women’s platinum jewellery was met with high interest from retailers and manufacturers. A brief overview of the upcoming trade agenda was shared by Pallavi Sharma, Business Director PGI India. She stressed on driving volume growth. She also emphasised on the criticality of delivering higher profitability via the proven success of exclusive designs in bi-metal jewellery across categories and differentiating to create value for the consumer via retailer exclusive collections in platinum.
Vaishali Banerjee, Managing Director of PGI India addressed PGI India’s strong partnership with leading retailers and manufacturers and said, “It is heartening to see the event emerge as a marquee industry event with such enthusiastic participation from retailers, manufactures and industry leaders. Platinum jewellery has come a long way and the success of such events highlights the large potential platinum jewellery has in the country across all markets. We are grateful to our partners for their overwhelming response. The new designs and collections will feature as part of the upcoming collections for the festive and wedding season.”
Tim Schlick, Chief Executive Officer of Platinum Guild International (PGI), shared his thoughts on the 2024 Platinum Buyer-Seller Meet: “The recently concluded Platinum Buyer-Seller Meet highlighted the immense potential of the platinum jewellery industry in India. This annual event symbolizes our commitment to nurturing and empowering strategic partnerships with retailers and manufacturers. Our goal is to create value for our partners, and the BSM allows us to demonstrate how we achieve this, including driving incremental business opportunities, identifying new segments, building differentiation, and targeting a sustainable traffic of younger consumers. Our primary intention is always sustainable growth, ensuring long-term benefits for all our partners.”
National News
Akshaya Tritiya 2026:Indian Consumers Balanced Record-High Prices With Age-Old Traditions
Narrative Of This Season Was One Of Value Over Volume
In the grand tapestry of Indian traditions, few threads shine as brightly as Akshaya Tritiya. Known as the day of “never-diminishing” prosperity, it is a time when the spiritual and the material converge. This year, as the sun rose on April 19, 2026, the festival once again transformed bustling markets into golden corridors of hope and heritage.
Despite the headwinds of record-high prices—with 24K gold touching nearly Rs. 1,56,000 per 10 grams—the Indian consumer’s bond with the yellow metal remained unbreakable. The narrative of this season, however, was one of “Value over Volume,” as buyers navigated a complex landscape of economic prudence and unwavering faith.
A Legacy of Trust and Gratitude
For established houses, the festival was a validation of decades of service. Kishorkumar Jindatta Shah, Chairman of Chandukaka Saraf, noted the profound emotional connection underlying the commercial activity:
“Akshay Tritiya has always been a symbol of prosperity, and this year, we are truly grateful for the overwhelming response from our customers. The strong sales reflect not just festive sentiment but also the trust our patrons place in us. We sincerely thank our customers for choosing Chandukaka Saraf and being a part of our journey.”
Regional Reverence: The Southern Stronghold
Nowhere was the fervor more palpable than in South India, the ancestral heartland of the festival. Accountable for nearly 40% of national sales, the region saw a unique blend of traditional reverence and modern pragmatism.
Surabi Karthik, State Vice President of IBJA Tamil Nadu and President of the South India Bullion Association, offered a candid look at the regional performance:
“This Akshaya Tritiya, it was truly heartening to see our customers keeping their traditions alive. Gold and silver purchases flowed in on this auspicious day. However, we must be honest—the volumes, especially across Tamil Nadu, were lower than expected. There are two primary catalysts for this dip: a surge in heavy buying that had already occurred between October and February, and the restrictive Election Code of Conduct, which dampened market sentiment.”
Dr. Chetan Kumar Mehta, President of JAB-CMD at Laxmi Diamonds, Bengaluru, observed:
“This Akshaya Tritiya witnessed robust jewellery sales across South India, reflecting sustained consumer enthusiasm. With Akshaya Tritiya having its origins in South India, consumers have a strong emotional connection. While the overall volume remained largely in line with last year, the value of purchases saw a noticeable increase, driven by higher gold prices and evolving buying preferences.”
The Shift Toward “Functional Luxury”
The high-price environment of 2026 sparked a creative shift in consumer choice. The trend moved away from heavy, “locker-bound” pieces toward lightweight and versatile designs that offer daily utility.
Dr. Chetan Kumar Mehta highlighted a prominent trend:
“Demand was particularly strong for lightweight jewellery, indicating a shift towards more contemporary designs. Additionally, consumers were actively exchanging old gold for new.”
Ashish Pethe, Partner at Waman Hari Pethe Jewellers, described a balanced market:
“Strong walk-ins throughout the day, balanced traction across gold, silver, and diamond segments, and sustained strength in bullion made this Akshay Tritiya a well-rounded success.”
Resilience Amidst the “Election Environment”
The 2026 season was not without its hurdles. With the nation in the midst of an election cycle, strict regulations on cash movement and the presence of the Model Code of Conduct created a more cautious atmosphere in certain corridors.
Anantha Padmanabhan, CMD of NAC Jewellers, reflected on this unique dynamic:
“Akshaya Tritiya continues to embody prosperity and tradition. This year, we have observed a modest moderation in sales, influenced by the prevailing election environment. However, the intrinsic trust in gold as a timeless asset remains unwavering.”
Gold as Financial Prudence
Perhaps the most significant takeaway from 2026 is the evolving psychology of the Indian buyer. Gold is no longer just an ornament; it is being cemented as a cornerstone of a disciplined financial portfolio.
Dr. B. Govindan, Chairman of Bhima Jewellery, explains this transition:
“The steady demand, despite record prices, reflects a clear shift in customer thinking. Buyers are focusing more on long-term security than short-term price movements. The preference for simple jewellery and investment coins shows that gold is being viewed not just as ornamentation, but as a reliable asset that blends tradition with financial prudence.”
As the doors of the jewellery showrooms closed and the Muhurat ended, one truth remained: whether through a 2-gram gold coin or a contemporary diamond-studded pendant, the spirit of Akshaya Tritiya endured. It is a festival that celebrates not just what we buy, but the enduring legacy of prosperity we hope to leave behind.
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