Akshay Tritiya festival began in Mumbai, during which the Indians buy gold and the city actually embraced the "gold rush", while jewelry companies in Pune never opened their stores, losing about 2 billion rupees of income.
Mumbai jewelers registered a significant increase in sales, as customers actively bought large jewelry, gold bars and coins, inspired by the decline in gold prices. According to analysts, only in Mumbai gold sales amounted to about 4 tons. Some jewelry companies note that gold sales growth was at least 15%.
Throughout the week preceding the Akshaya Tritiya holiday, Mumbai jewelry stores were closed to protest the actions of tax authorities, which intend to introduce a new tax in the city, but by the beginning of the festival the stores met buyers with solemn decoration and flowers.