India's platinum jewellery volume sales grew 35 percent in 2022 Q3: PGI

Platinum Guild International has announced in its new 'Platinum Jewelery Business Review' report that sales of platinum jewelery in India has increased by 35 percent in Q3 2022 compared to Q3 2021.

The Gems and Jewelery Export Promotion Council reports high levels of growth in platinum sales in the Indian market, driven by high levels of consumer visits to stores in July and August this year, according to its new report on website. Steady gold prices, festivals and trade shows, including the premiere of the 38th India International Jewelery Show, helped boost sales despite supply chain and economic challenges.

PGI's CEO Huw Daniel said PGI's mission is to improve platinum convenience and increase sales for our partners is succeeding, despite the economic challenges of 2022 and the pandemic-affected two years prior. "We are happy to see that smart programmes that take advantage of Platinum's special attributes have produced significant results, presenting Platinum as a key value driver for our partners during the post-pandemic recovery phase, the holiday season, and key purchases," the statement reads.