MUMBAI: The domestic jewellery industry, which recorded healthy sales during the festival period, is expected to witness 12 per cent growth during this financial year compared to the previous fiscal, according to a report.
The domestic jewellery industry is estimated to have registered a healthy growth of 60 per cent in the second quarter of FY23 as against pre-Covid levels (Q2 FY20), which exceeded Icra’s expectations of an 8 per cent YoY contraction and was driven by urban demand recovery following range-bound prices.
However, on a Year-on-Year (YoY) basis, the demand recorded a contraction of 2 per cent in the quarter owing to a high base in the second quarter of FY22, which had grown by 70 per cent YoY, due to pent-up demand after the lifting of the pandemic-induced restrictions last year, the Icra report said.
Diese Geschichte stammt aus der New Delhi 18November2022-Ausgabe von Millennium Post Delhi.
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