Covid-19 lockdown: Jewellers in Odisha look for uncertain future

BHUBANESWAR: High gold prices, low demand and the recession due to lockdown have left the jewellers in the state a worried lot. Many jewellers are thinking of closing shops. They said they are unable to pay salary to staff and goldsmiths because of no business for last three months. Limited hours opening, and limited footfalls has made the situation worse.
“We were doing good till first week of March. Sales have been zero for the last few months since lockdown. Last year Fani had affected Dhanteras and this year Akshay Tritiya washed away. This year a lot of marriages were planned but now we don’t know where we are heading as the cases of COvid-19 are on a rise in the state. Situation is scary. We are not thinking of revival but survival has become important now,” said Mitesh Khimji, director of Khimji Jewellers.
Jewellers said, with a dull wedding season and one of the major gold-buying festival Akshay Tritiya passed during lockdown, the sale has become nil or the lowest minimum.
“Due to lockdown and Covid-19 restrictions marriages, wedding ceremonies and other occasions on which jewellery is in high demand are being held in an extremely low-key manner, without any of the usual grandeur or spectacle we had been so used to seeing until the outbreak. No wonder jewellery trade has practically come to a standstill,” said Sunjoy Hans, founder chairman of Lalchand Jewellers.
There is barely any footfall in these shops while many shops inside malls and shopping complexes are still closed. Besides, the high prices of is another major reason to keep the customers away from the shops.
“Gold prices touched its pick during the first quarter. There is a big increment of gold rate around Rs8000 before and after lockdown. Due to recession consumers do not want to spend their money on buying gold. Salaries of people had cut and due to lack of enough disposable income people are not showing any interest in buying gold,” said Brahmananda Meher, managing director of Arundhati Jewellers.
Big jewellery shops have engaged hundreds of goldsmiths and artisans and the lockdown has impacted their livelihood badly and are there is uncertainty regarding revival of the jewellery sector in near future.
“There is uncertainty all around and we don’t know when the crisis is going to end. The shops remained closed for last three months, now when they are open barely one percent customers are coming to buy gold only in need for any occasion like gifting on childbirth or wedding. It has been difficult to pay salaries to employees and we will be forced to lay off staff,” said Brundaban Sahu, owner of K C Jewellers.
The jewellers are demanding support from the government for revival of the gems and jewellery industry. “The government can come out with direct income benefit schemes for artisans and other workers in the jewellery sector, apart from offering incentives, reduction in GST and interest-free loans to bring back a semblance of normalcy in jewellery business before full-fledged revival of the sector. Secondly, and equally importantly, the sector’s stakeholders will have to take proactive steps to restore consumer confidence,” said Hans.
All jewellery shops are following government guidelines by regularly sanitizing the stores, making use of masks and hand gloves for customers, use of hand free sanitize machine at the entry point, checking body temperature of customers and employees with record keeping, providing hand gloves to everyone comes to store, immediately sanitize all the area contacted with customers.
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