As the price of gold continues to increase internationally, gold jewellery artisans in Salem district are facing a loss of income and are being forced to struggle. As big businessmen who are investing in the stock market have recently started investing in gold, the price of gold is continuing to increase. As a result, artisans engaged in the gold jewellery business are suffering due to loss of income due to the loss of business.
In this regard, Manikandan, the Salem City President of the Tamil Nadu Vishwakarma Artisans Association, said: More than one lakh people are engaged in the gold jewellery business in various areas including Second Agraharam, Sevvaipettai, and Kukai in Salem district. The artisans who have been engaged in the gold jewellery business for generations do not know any other profession except this one. Due to this, we are getting a job opportunity in making gold jewellery based on the price of gold. In January, one pound of gold was sold for Rs. 58,700. Currently, one pound is being sold for Rs. 64,400. So far, the price of gold has increased by up to Rs. 6 thousand per pound.
Due to this, the gold jewelry industry has been greatly affected. As those who invested in the stock market are now investing in gold, the price of gold is continuously increasing. Those involved in the gold jewelry industry have been affected by 70 percent due to this price increase.
Only those who need essential jewelry such as weddings and home special events are being given job opportunities to make jewelry including thali and chain. Due to this, the industry is paralyzed and we are facing a huge loss of income.
In 2023, the central government introduced a scheme to provide business loans of Rs. 3 lakh to those involved in the jewelry industry through the Vishwakarma Yojana scheme. While this scheme is operational in other states, the DMK government in Tamil Nadu has not implemented the central government’s scheme.
Instead, it provides loans to 14 industries under the Kalaignar Artisan Loan Scheme. In this, if those involved in the gold and jewellery industry apply for a loan, the banks have said that they can only provide loans to buy machinery.
If we, artisans in the gold and jewellery industry, want to buy machinery and work, we will have to buy machinery worth Rs. 16 lakh to Rs. 25 lakh. We cannot invest that much in this industry. Therefore, steps should be taken to buy machinery or provide Rs. 3 lakh as a business loan to gold and jewellery artisans. He said this.
In this regard, gold and jewellery artisan Mohan said: Several thousand families in Salem district rely on the gold and jewellery industry. Several lakhs of people are earning income directly and indirectly through this industry.
In such a situation, as the price of gold continues to increase, the usual orders have decreased and the gold and jewellery industry has faced a major decline. Since the price of gold and jewellery is determined internationally, simple gold and jewellery artisans have been forced to work on a global economic basis.
Currently, there are no job opportunities for gold jewelry makers, and gold jewelry workers are suffering from lack of income due to the industry’s stagnation. Therefore, if the government comes forward to provide industry-related loans, it will be possible for jewelry workers to develop their industry and overcome the impact of the industry. Therefore, the government should come forward to provide loans to encourage the gold jewelry artisans’ industry. He said this.
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