Jewelers to Spend More as Buyers Flock Back to Stores in India
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Jewelers in India are shaking the dust off their expansion plans this year as sales in the second-biggest market are set to increase even more after almost doubling in 2021.
Sales in the country have just started recovering as fears of the pandemic eased. India’s gold imports jumped to the highest level in a decade in 2021 as jewelry purchases surged, according to the World Gold Council. That’s a turnaround for jewelers, who had put expansion plans on hold and focused on shedding debt after demand was hammered for almost two years as the coronavirus led to the postponement of many weddings -- a key source of demand.