Platinum jewellery continues to gain traction in India, even as record gold prices challenge consumer spending. According to the latest Platinum Jewellery Business Review released by Platinum Guild International (PGI), India’s platinum retail sales grew 15% year-over-year in Q2 2025, highlighting strong demand for high-value alternatives.
PGI’s targeted initiatives have been central to this growth. The “Season of Love” promotional programme alone boosted platinum jewellery sales by 21% compared to 2023. Additionally, the Platinum Buyer-Seller Meet in June connected 60 retailers with 14 manufacturers, driving a double-digit increase in orders. Strategic partners also expanded their platinum offerings within gold sections and implemented dedicated in-store activations to attract discerning buyers.
Tim Schlick, CEO of Platinum Guild International (PGI), said, “Despite economic headwinds, platinum jewellery demonstrates enduring value and resilience, and we are committed to supporting our partners in major markets through collaborations and focused promotions to reinforce platinum’s unique appeal with consumers seeking quality and distinction.”
While India emerged as a standout performer, other key markets also showed mixed results. China saw exceptional growth with fabrication up 151% year-over-year, supported by wholesale demand and new retail collaborations. In the UAE, PGI expanded its network to 127 stores by adding three new retailers. Japan experienced its first year-over-year decline in Q2 after 16 consecutive quarters of growth, while the US continued to focus on higher-value purchases, with revenue growth in double digits driven by white gold conversion campaigns.