The future of platinum in India looks great. It is increasingly getting popular in India after making its mark in China. Indians have been passionate lovers of gold till now and they buy it on every favourable occasion. As per the data collected, Indians are regarded as the biggest consumers of the gold all over the world. However the future seems to be riding on platinum and slowly moving from gold to platinum. Platinum is the latest craze for the younger generation and they prefer the white metal over yellow metal. The platinum jewellery is catching up in last two years with its price coming near to gold. The foremost platinum jewellery manufacturers are focussing the consumers in the 20-40 age groups that have high disposable income. The platinum jewellery comes in various sizes, types and weight. They are available with every most of the jewellery dealers and seller in both the Tier-I and Tier-II cities in India.
As per the market research, the demand for platinum is increasing and it will reach to 15 tonnes by the end of 2010-11 as compared to 10 tonnes in 2008-09. The price of platinum was double the price of gold. However, it has reduced to match cost of the yellow metal. Therefore, many investors who regarded it as too expensive metal can now purchase it. The metal offers the re-sale value in line with gold jewellery items and therefore it is a better investment for the consumers.
The platinum in jewellery form was famous in few selected countries in the beginning such as Japan, the US and China. In India, the metal was considered chiefly for industrial consumption, photography and as an auto catalyst. Efforts were made about increasing the awareness of metal’s potential in jewellery and this has led to generation of huge demand in urban India. The platinum’s consumption would soon pick up in India if the spot quotes as well as premiums are made available at each retail shop.