The hustle and bustle on Sant Kabir and Pedak Road and Bhavnagar Road in Rajkot is hard to miss on any normal day, thanks to a large number of imitation jewellery wholesalers nestled in these areas. The hotels here are always buzzing with buyers from across the country thronging to this imitation jewellery market for business. In stark contrast, these busy streets now wear a deserted look with demand drying up following the Covid lockdown.
Hailed as one of the biggest imitation jewellery hubs in India, Rajkot houses over 1,000 wholesalers, who get these artificial jewellery made by local artisans.
The Rs 3,000 crore industry, however, has been in tatters since the imposition of lockdown.
Some wholesalers have downed their shutters for lack of demand and others are gasping for survival. Nearly, 60,000 workers, among the 3 lakh working locally in this industry, have been rendered jobless over the past few months.
“Around 90 wholesalers in our market have closed down because they could not afford to pay rent,” said Jignesh Shah, president, Imitation Jewellery Association, Rajkot.
Even the festival of Rakshabandhan failed to rev up demand, with most people cutting down on celebrations and staying put in their homes from fear of Covid. Rakhis made using imitation jewellery are very popular. However, the pandemic-induced slowdown brought Rakhi sales down to 25% of normal this Rakshabandhan, a festival which brings significant sales to this industry.
Traders say the demand for imitation jewellery, also known as fashion jewellery, has reduced by 60% in the past six months. This has forced many artisans and business owners to seek work and employment in other sectors.
For instance, Jitu Ramani, who began imitation jewellery manufacturing two years ago and operated from rented premises, has wound up his business for want of orders and returned to his village, Jiyana, located some 25km from Rajkot.
“There was no work and I could not afford to pay the rent and bear the high expenses of living in the city. Hence, I returned to my village and have joined the family in farming,” said Ramani.
“There are nearly 60,000 imitation jewellery workers who had to find employment in other sectors, since there was no work available in our industry,” added Shah.
Divyesh Kunt chose to shut his business due to a sluggish market. Kunt had entered this business last year and had rented a shop on Bhavnagar Road.
“There is no current demand for this type of jewellery, which is widely used in marriages and festivals. Social celebrations and marriages are being postponed and festivals celebrated with great caution. This has dented the demand over the past six months. I had no option but to close as the expenses were mounting and earnings nonexistent,” Khunt explained.
Imitation jewellery is hugely popular with the middle and lower income groups as in ordinary circ*mstances it helps to avoid the high costs of gold jewellery. In recent times, due to their innovative designs and fancy looks, imitation jewellery has gained popularity in the upper-middle and affluent classes as well.
The industry, however, is hopeful that the demand will return in the next months as major festivals like Diwali are round the corner.
