Friday, 13th February 2004 (4686 views)

Indian consumers have selected gold and jewellery as two of the retail sectors they are most interested in according to new figures charting the country's spending plans.

The latest Consumer Confidence Index results suggests that the gold jewellery sector remains in strong demand, with consumers turning to the precious metal even in difficult economic conditions.

The overall figures showed that the Indian consumer's mood during September-December 2003 was slightly downbeat in comparison to the previous period, but marked a five per cent annual increase on the figures for 2002.

The consumer confidence index, which is based on the quarterly ET-TNS consumer confidence survey, includes both the present situation index (PSI) and the future expectations index (FEI), providing a snapshot of consumer feeling.

With the FEI continuing to ride high, the prospects for certain specific sectors remain strong.

According to the CCI consumers are most interested in buying durables, with the purchase of gold close behind - both in jewellery form and as the metal itself.

Analysts say that optimism over a rise in the value of assets has helped spur consumers spending power and boosted their plans for future purchases.

 

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