Dhanteras ups sales of small jewellers in city

Dhanteras on November 12 brought cheer to the small jewellers in the city with footfalls cheer to the small jewellers in the city with footfalls picking up amidst the high price for the yellow metal and COVID-19 apprehensions.

An official of a gold jewellers trade body in the Kolkata city said that it was difficult to find parking space at Bow Bazar, the traditional jewellery market in the city as buyers began to pour in.

"We are already about 65 percent of pre-COVID levels from zero during the early months of lockdown, Swarna Silpo Bachao Committee president Bablu De told PTI. The trend is healthy. Dhanteras is a key festival as it drives the annual sales of one-third of the small jewellers in the city," said De.

Swarna Silpo Bachao Committee members are mostly owners of small jewellery shops from across West Bengal.

"Only serious buyers are coming. We are maintaining Covid protocols, he said.

Asked, De said there are about 10,000 small jewellery shops across the state out of which the city accounts for over 1500 of them. These small jewellers were hit most during the lockdown and the high gold price.

He said the sales this year cannot be compared to other years but given the gloom faced in the months after the lockdown the situation is far better.

Gold prices have increased over 30 per cent since Diwali last year and a large number of jewellers are trying to rev up business by giving discounts on making charges and precious stones. Suvankar Sen, the CEO of Senco Gold and Diamonds, a leading jewellery company in the city, said the market sentiments have improved substantially since Durga Puja.

However, in volume terms there might be a 15-20 percent decrease this year compared to that of last year, he said adding the company is expecting new online bookings on Thursday.

Malabar Gold and Diamonds Company had announced one gold rate across the country to lure customers.