Salem silver manufacturers in dire straits
To revive the ailing sector, the silver manufacturers have urged the state government to seek patent rights (Geographical Indication) for Salem ‘kolusu’ to enhance its popularity.;
Silversmiths making anklets at a workshop in Salem
COIMBATORE: With rising gold prices requiring significant attention, the volatile price of silver on the other hand has led to a drastic drop in orders for silver ornaments from Salem ahead of Akshaya Tritiya.
It is to be noted that the trend of buying silver on this auspicious occasion began when gold prices started to go up. “Against such a backdrop, only 50 to 60 per cent of orders for silver ornaments have been received so far for Akshaya Tritiya. This drop in orders could be attributed to unexpected and sudden fluctuations in the price of the white metal. Silver prices rose from Rs 1,05,000 per kg in the first week of April to Rs 1.12 lakh per kg (Rs 112 per gram) on Sunday. The price difference alone comes to around Rs 7,000 this month,” said Sree Anantharajan, president of Silver Anklet Manufacturers Welfare Association.
In previous years, the demand was better at this time of the year ahead of Akshaya Tritiya. Normally, the festival days of Pongal, Deepavali, and Akshaya Tritiya are considered to be the peak season for silver ornament manufacturers and especially ‘kolusu’ (anklet) producers across Salem. Thus, the silver ornament manufacturers are hopeful that they may get orders in the coming months.
Among various states, customers of Karnataka mostly prefer silver ornaments from Salem for their intricate designs and durability. With over 10,000 production units, there are around 1.5 lakh people dependent on the sector for their livelihood. While north Indian states are major consumers, the silver ornaments from Salem are also sent to Kerala, Karnataka, Andhra Pradesh, and different parts of Tamil Nadu.
To revive the ailing sector, the silver manufacturers have urged the state government to seek patent rights (Geographical Indication) for Salem ‘kolusu’ to enhance its popularity.
They also sought the government to hand over the recently opened multi-purpose production facility to silver ornament manufacturers.
Also Read: Gold price surge marks prudent purchase this Akshaya Tritiya
Key hubs of silver ornament production in the Salem district include Shevapet, Panangadu, Sivanthapuram, Ariyakavundanur Andipatti, and Selathampatti.