Rajkot: Raju Hapalilya is used to produce 400 kg of imitation jewelry at the casting factory, which has six furnaces.
That’s before Covid struck.
At present, the factory has been closed for the past two months due to lack of orders.
Locking and restrictions imposed to curb Spread Covid have regarded the imitation jewelry industry hard.
Rajkot, Imitation Jewelry Hub, faces the existential crisis.
Nearly 6,000 production units of 15,000 do not function to desire orders.
About 3 lakh people work with this industry, most of originating from West Bengal and Bihar, have returned to their indigenous people.
Wedding season, festivals such as ‘Raksha Bandhan’ and ‘Janmashtami’ have not produced expected requests.
After the second wave of Covid, the payment cycle and request have been disrupted.
The increasing price of raw materials added to the imitation jewelry industry.
Nearly 1,000 wholesale buy imitation jewelry in large amounts of these production houses.
The credit period is six months but currently all payment cycles are disrupted.
According to home production, the payment is extraordinary since the last eight months and they are not in a position to provide more credit.
On the other hand, traders complain of stacking stocks.
Jignesh Shah, President of the Imitation Jewelry Association, said that traders were burdened with stocks last year.
“Raksha Bandhan is one of the biggest festivals for our business but last year there was no business because of the complete lock and we still cleaned old stock.” This year there is no new production.
There is a closed on the number of guests in the wedding function while there is no permission given to various ‘welding shravan’.
All of these factors have caused drying requests, “said Shah.
Many ‘welds’ were held in Saurashtra during the month of ‘Shravan’.
The Five-Day Five Day Exhibition Week is arranged in Rajkot, Jamnagar and Porbandar while ‘Tarnetar Mela’ is held in Surendranagar.
But this year all This exhibition has been canceled because of the Covid situation.
There is a large demand for imitation jewelry from the rural population in ‘Melas’ Reduced to Rs 10 Lakh at this time.
I have a team of 25 employees but I was forced to put everything but four.
“” Industrial turnover is around Rs 3,000 Crore per year but now it falls to only 10%.
Locking in the state and other cities, especially Mumbai, coupled with a shrink export plastic has resulted in a decrease in demand, “Shah added.
Imitation Hit Ncov Jewelry Industry Staring Recession
