The average value of card transactions in the two affected segments dipped in the days leading to Diwali, according to the data released by transaction processing company, Worldline
Most jewellers have also posted a sharp increase in lightweight gold jewellery sales for gifting and diamond ornaments for wedding and self-consumption
Dhanteras was a muted affair in most markets across the country with traders complaining of lesser footfall and reduced consumer spending
The sector's gross exports declined by 9.32 per cent to $12.15 billion between April and July compared to $13.39 billion during the same period last year, according to data
Jewellers see better business sense in the grey market
Kalyan Jewellers Chairman and Managing Director T S Kalyanaraman said, "On this Akshaya Tritiya, we expect to see customers returning to the eternal value of gold"