India Platinum Market

india is the world’s second largest consumer of platinum, with demand for the metal largely driven by the jewelry industry. the outlook for the platinum market in india is very positive for the 2018-2032 period. the increasing importance of aspiring millennials in buying decisions, as well as the growing number of young couples getting married, have led to increased demand for jewelry, including platinum jewelry. economic growth and favourable government policies have also boosted consumer spending, leading to expectations of strong growth in the indian platinum market. furthermore, platinum consumption in india is projected to rise as higher environmental standards are adopted and vehicles move to comply with stricter emissions standards. use of platinum in industrial and medical equipment will also drive demand in india. in addition, rising disposable incomes and the increasing popularity of investment products of platinum in the form of coins and bars are expected to increase demand for platinum in india in the next few years. stronger growth of e-commerce and the consequent increasing share of online purchases are also expected to drive up demand for the metal. finally, the overall growth rate has been increasing steadily since the trend of higher environmental standards has become prominent. in addition to this, technological advancements have enabled more jewellers to use platinum in their jewellery designs more innovatively. overall, the outlook for the indian platinum market over the next decade is positive, driven by strong growth in consumer spending and favorable governmental policies. investments in the form of coins and bars as well as industrial and medical uses of platinum will further fuel the market. therefore, the market is expected to significantly expand over the next ten years.