AHMEDABAD (Commodity Online): Gold jewellery maker and exporter, Rajesh Exports Limited (REL) (BOM:531500) is all set to bring a sea-change in the Gold retailing in India as the company has unveiled a unique concept of retailing ‘real rate per gram’.

The initiative launched as the Retail “Gold Revolution” across the country makes gold jewellery purchases affordable and transparent. Initially, the new initiative was launched in Karnataka on Friday and will be extended across the country within next twelve months.

Speaking on the occasion, Rajesh Mehta, Chairman, REL said, “Today is a landmark day in the jewellery industry. The transparency in the jewellery industry which was not there for centuries, has been brought in today. I am very confident that the Gold Revolution with an offer of “Real Rate Per Gram” to the customer would ensure to multiply the confidence of the customer in a jeweller and would result in standardization of the industry. This move by REL would immensely benefit the jewellery industry by eradicating unscrupulous elements from the industry. The biggest beneficiary of this Revolution will be the Customer.”

Rajesh Exports Limited, with fully integrated systems in place is the lowest cost producer of jewellery in the world, has taken up the challenge of eradicating the malpractices prevailing in the jewellery trade. From 15th May Rajesh Exports will unveil the Revolutionary “Real Rate Per Gram”.

“From 15th May onwards, a jewellery buyer will not be paying any wastage, making charges, value addition charges or any other hidden charges. He will only be paying at the selling rate of Gold without going into the complicated explanations and calculations,” company informed in a statement issued on Friday.

As per available estimates the total retail gold jewellery business in India is worth about Rs. 95,000 crores per annum. Considering on an average about 15% being over charged to the customers, the customers in India are overpaying about Rs. 14,250 crores every year, this excess payment is apart from the lower purity of jewellery being sold by some of the jewellers in the guise of 22ct jewellery, the excess payment made by the customers due to lower purity would be about another Rs. 10,000 crores per year. With the transparent pricing mechanism of the revolutionary “Real Rate Per Gram”, and the hall mark guaranteed purity the Indian jewellery customers are set to save up to Rs. 24,000 crores every year, the company stated.

The company statement maintained that the “Real Rate Per Gram” would ensure standardisation of the jewellery industry, which would ensure healthy growth and more employment opportunity to the artisans and other indirect employees of the industry. Not only the gold buying aspirants from India would stop buying from abroad, but there will be a reverse trend of people from other countries buying jewellery from India.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook