Retail jewellers are expecting a huge growth in sales of gold jewellery during the Dhanteras.
With the government exempting the gems and jewellery industry from the purview of Prevention of Money-Laundering Act (PMLA), 2002, retail jewellers said the industry could see a high double-digit growth during the upcoming festive season led by a higher demand for both gold and diamond jewellery.
“The government notification issued in August bringing the gems and jewellery under the purview of PMLA provisions had actually threatened the prospects of sales in rural areas.
The centre’s latest amendment exempting the industry has come as a huge relief to the industry as small ticket purchases (up to Rs 2 lakh) would get a major boost. Now we are expecting around 20-25 percent growth in sales volumes as against our earlier expectation of just 7-8 percent,” said Ishu Datwani, founder, Anmol Jewellers.
