KOLKATA: As platinum becomes cheaper than gold, demand for platinum jewellery is zooming in the Indian market. Platinum jewellery retailers said that in February and March, demand shot up 40-50% and this trend is likely to continue in the upcoming wedding season that kicks off next month.Platinum price is currently hovering around Rs 26,300 per 10 gm as compared to gold price of Rs 26,600 per 10 gm. In the international market, platinum was trading at $1,150 an ounce as compared to the gold price of $1,183 an ounce.“There are two factors that are driving the platinum jewellery demand in India. First of all, Platinum Guild India has launched wedding collection in platinum under the brand name Evara, which has given more choice to urban young India. Secondly, a drop in prices has further fuelled demand in the market,” said Kalpanik Choksi, director of Ishwarlal Harjivandas Jewellers , Ahmedabad.Retailers said younger clients are educated, net savvy and aware of global trends. Platinum is being viewed as the next generation metal. Young Indians are seeking options in jewellery metals and designs, and are willing to experiment with new styles.Choksi added: “The young crowd likes the natural colour of platinum. They largely belong to the upper middle and affluent sections of society. But as prices have fallen, even middle class people are looking at platinum now. Evara range was launched in November and since then, we have sold 20 platinum necklaces. Overall in the current fiscal, we are expecting platinum demand to go up by 20-25%.”Samir Sagar, director of Mumbai-based Manubhai Jewellers feels the price is not the lone factor for driving platinum demand in India. “Earlier, customers had the option of only platinum love bands and rings and other small items. Now with the Evara range, there is more choice for Indian customers. We have seen very good growth in the past two to three months in platinum jewellery,” he said.Among women in the 35-40 years age group, platinum jewellery is now seen as a mark of economic stability for the present and future.In Kolkata, jewellery among this age group is acquired and acknowledged as a highly desired asset, with a two-fold benefit of safeguarding the future of children and self, whereas in Delhi, it satisfies the need of attention and approval as one focuses on exhibiting status and confidence, Saurabh Gadgil, managing director of Pune–based PN Gadgil Jewellers , said: “Even platinum is gaining popularity among young male executives who do not like the sheen of gold. A price fall has added impetus to platinum sales.”