Karnataka: Gold sale in twin cities hits bottom on Akshaya Tritiya

GURURAJ JAMKHANDI & Sangamesh Menasinakai | TNN | Updated: Apr 27, 2020, 13:29 IST

The jewellers had sought permission for offline transactions for a few hours but the government did not allow it

The jewellers had sought permission for offline transactions for a few hours but the government did not allow ...Read More

HUBBALLI/DHARWAD: This was easily the bleakest Akshaya Tritiya for jewellers in the twin cities. The purchase of gold and other valuables on this day is believed to bring prosperity, but the custom was missing on Sunday, thanks to the lockdown.
With the physical purchase of gold not possible, some branded jewellery companies in Dharwad have been approaching their customers through telephone offering online booking of the yellow metal and the delivery promised after lifting of the lockdown.
“If there is hike in the price on the day of delivery, we will not charge the additional amount. However, if the price on the day of delivery is lower than the one which prevailed on the day of the booking, we will charge the reduced price,” said an executive of a branded company.
This apart, many branded companies have even given a discount up to 15% on making charges. However, these offers have failed to encourage sales, he said.
The jewellers’ association had urged the government to allow offline transaction for at least a few hours on Akshaya Tritiya, but the government did not allow it as the situation is volatile due to Covid-19.
Karnataka State Jewellers Federation chairman G Jayacharya said 10% increase in business was expected this year. “We don’t blame the government or anybody here. Worrisome is that over 4 lakh direct and indirect employees of the industry are in trouble,” he said.
Jayacharya said many jewellers have been helping their outsourced workers who rendered jobless now. “But we cannot take it longer. So, we have demanded some financial assistance for such employees from the government. As a token of social security, the government should waive interest at least by some percentage,” he said.
Jewellers fear losing skilled workers if they do not retain them with minimum support. Parashuram Chillal, president, Jewellers’ Association Hubballi, and Srikant Kari, treasurer, KJF, said many jewellers who are sponsoring the expenses of labourers are worried about the coming days.
Govind Niranjan, president, North Karnataka Jewellers Associations’ Mahasabha, said it is time to realise that Covid-19 has turned into a big threat for small and medium scale jewellers.