Though new in India, platinum jewellery is here to stay. The Platinum Guild International (PGI) recently unveiled its diamond-studded platinum jewellery in Delhi and Mumbai through top-of-the-line jewellery showrooms. But platinum jewellery is much more costlier than gold or silver. A simple diamond-studded ring in platinum will cost Rs 10,000, which is at the bottom of the price rung. The reason is that while the world produces 3,300 tonnes of gold every year, yearly production of platinum worldwide is only 100 tonnes.

Over the last five years, the demand for platinum jewellery has grown faster than any other metal in the global market. This is primarily because of the advantages platinum has over other jewellery metals like gold and silver. Platinum being stronger than gold or silver, stone settings on the metal are stronger and more secured.

Platinum is 20 times rarer than gold and can only be worked into jewellery by the most skilled craftsmen. Its silky polished surface and its weight conveys a feeling of sheer luxury. It is also extremely resistant to everyday wear and tear and rings made of platinum will not wear thin. And for those who can't have enough of the yellow metal, platinum can be combined perfectly with gold and, on its own too, to provide a classical look of quality.

This year, PGI has teamed up with leading Indian designers-manufacturers like InterGold (India) Ltd and Shrenuj & Company Ltd to manufacture designer platinum jewellery to cater to Indian market. Though India's share in the global market for platinum is less than one per cent, PGI expects India to become a significant player in the global jewellery market. "In India, PGI will cater to the premium segment with its diamond or gem stone studded, designer platinum jewellery," says Mr James Courage, chief executive officer, PGI. He adds that PGI products will also target at buyers who have accumulated their own collection of jewellery in gold and silver and are looking for something different.

A key element in the PGI marketing approach in India is the adoption of a quality control standard. There are only two manufacturers who will follow a Hallmark-based system designed to maintain authenticity in the quality of the platinum used. Each city will have only 10 select distributors for marketing platinum jewellery and each jewellery will carry the PGI logo and a unique number along with a tamper-proof SGS (Societe Generale de Surveillance SA, Geneva) quality assurance certificate guaranteeing 90 per cent purity of platinum in the jewellery. In case of 18 carat gold jewellery, the purity of gold in use is 75 per cent at the maximum. PGI has also decided to organise events like the `Platinum Woman of The Year' in association with other leading marketers.

Mr Courage also says that PGI will extend marketing, sales and research support to its authorised retailers. This will consist of distinctive signage outside the store, a PGI licence on the counter, specially designed displays and unique packaging.