The United Chamber of Commerce of India (ASSOCHAM) reported on the growing demand for diamonds and platinum in major Indian cities, observed during the holidays of Dunthers and Diwali, reports Rapaport.
ASSOCHAM conducted a survey of 350 jewelers and found that these companies responded to changing consumer preferences, taking a more flexible approach to stockpiling, especially in view of the measures to reduce gold imports and record high prices for yellow metal. The poll found that 76% of companies this year focused their marketing efforts on promoting platinum and diamonds as holiday gifts, instead of traditional products of gold and silver.
One jeweler from Delhi, interviewed by ASSOCHAM, said: "Against the backdrop of rising gold prices, white gold, diamonds or platinum have become a new trend. This season there is an increased interest in jewelry made of platinum. "