As Indian tourists gear up for Akshaya Tritiya, a festival dedicated to buying gold, many opt to visit Dubai for the occasion. On May 10, India will celebrate Akshaya Tritiya, prompting a surge in Indian tourists traveling to Dubai to shop for gold. Known for its gold markets and competitive prices, Dubai has become a popular destination for gold buyers from India and other countries. Anuraag Sinha, Managing Director of Liali Jewellery, highlighted that Dubai offers a wide variety of gold jewellery, coins, and bars, making it an attractive choice for shoppers.
Praful Dhakan, Managing Director of PVD Gold, emphasized that traditions like Akshaya Tritiya bring people together in the pursuit of prosperity and auspiciousness. Dhakan noted that Dubai’s gold market is known for its variety and competitive prices, attracting buyers from India during festivals like Akshaya Tritiya. Ramesh Vora, Managing Director of Bafleh Jewellers, mentioned that Indian tourists visiting Dubai are aware of the promotions and offers available during the festival, prompting them to align their dates accordingly.
Many jewellers in Dubai have introduced special discounts, zero making charges, and gifts for shoppers buying gold, diamond, and precious metal jewellery during Akshaya Tritiya. However, the World Gold Council reported a 10% decrease in demand for gold jewellery in the first quarter of this year due to high commodity prices. Despite this, Shamlal Ahamed, Managing Director for international operations at Malabar Gold and Diamonds, pointed out that low gold prices compared to India and the availability of international designs make Dubai a compelling destination for Indian tourists looking to buy gold.
John Paul Alukkas, Managing Director of Joyalukkas Group, highlighted Dubai’s diverse selection of gold jewellery, coins, and bars at competitive prices, making it a preferred destination for Akshaya Tritiya purchases. He also mentioned that Dubai’s tourist-friendly policies, such as tax-free shopping and tourist refund schemes, further contribute to its appeal as a shopping destination for gold during this auspicious occasion. Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, noted that Dubai is a popular global tourist destination year-round, with many tourists choosing to make gold jewellery purchases from the market during their visit. If Indian tourists travel to the Middle East during the auspicious season of Akshaya Tritiya, they are likely to indulge in gold shopping and make the best of their visit.
