Thursday, May 13, 2021

Akshay tritiya quote by Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers

"Sales will remain muted on Akshay tritiya, marking low business for second year in a row. The second wave of pandemic this year has been disastrous for people with increased number of cases as well as fatalities. There is an overall negative consumer sentiment in the market as people deal with the loss of near and dear ones. On the other hand, the silver lining for the industry is that people are still wanting to make token gold purchases to bring some positivity home this Akshay Tritiya. This will be the first Akshay Tritiya in our history, which will be fully cashless. The constant push by Govt. of India for Digital India seems to be paying off as customers are now using UPIs and Wallet Apps and online payments to make transactions in our industry. We believe this trend will continue and reshape our industry in the future and it will be rewarding for players who are upping their digital game, who are getting organized to meet the challenges of the future and at the same time, customers are getting used to the idea of buying gold online. Therefore, once vaccination drives are in full swing and majority of the population gets vaccinated, the market sentiment will start improving and things will return to normalcy.” - Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers

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