City jewellers get restless ahead of ‘Super Sunday’

Manasi Saraf Joshi
Saturday, 17 March 2018

Pune: There is some unrest among jewellers, as the city gears up for Gudhi Padwa. Although all of them claimed sales would pick up on the day, fierce competition, reduced mutual trust between customers and jewellers, demonetisation, GST and other reasons have affected the business severely.

Pune: There is some unrest among jewellers, as the city gears up for Gudhi Padwa. Although all of them claimed sales would pick up on the day, fierce competition, reduced mutual trust between customers and jewellers, demonetisation, GST and other reasons have affected the business severely.

The owner of BM Ashtekar on Laxmi Road, Prashant Ashtekar, said, “We are expecting business to go up on Sunday as Gudhi Padwa is one of the three and a half ‘muharats’ according to the Hindu tradition. People still prefer buying gold on these occasions. However, in general, business has considerably fallen in the last few years owing to changing government policies and lifestyle preferences.”

Fatechand Ranka of Ranka Jewellers said, “Due to GST, gold prices have gone up by Rs 1,000 as earlier the tax was one per cent and now it is three per cent. Besides this, the market has still not come out of recession. This year, there are less number of pre-bookings compared to last year, as the no moon day fell through Friday evening to Saturday evening.”

Umesh Sthul, Manager at Aundh branch of PN Gadgil and Sons, also said that GST has affected business, but it will pick up on Sunday. “We have fewer pre-bookings compared to last few years, but certainly business will pick up on Sunday.”

Meanwhile, the trend this year in the market is traditional gold jewellery. Ranka said, “People these days prefer gold jewellery crafted in traditional designs. Gold has always been the favourite among all classes.”

Sthul said, “Temple jewellery is in great demand this year with people preferring traditional looks. Among this, earrings, pendants, stones are hot favourites.”
Ashtekar said, “Gold is always preferred by customers and traditional jewellery like Kolhapuri ‘saaz’ (neckpiece), ‘chatai waki’ (neckpiece), Shinde ‘tode’ and ‘pailuchya patlya’ (bangles) are in demand. Traditional jewellery with a modern look with the help of powder polish, gems or stones is in demand.”

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