Timely rest: Jewellery industry back with a bling

Timely rest: Jewellery industry back with a bling

“Repressed interest and marriage shopping is carrying clients to our shops now.”

Diamond setters across the city are cheerful as they are getting acceptable footfalls at their stores that opened on Monday after very nearly two months of lockdown. Be that as it may, the business players are stressed simultaneously over their questionable future.

After relaxations in limitations, gems stores have opened in Chennai and they are announcing acceptable business. Jewellers said that drop in gold costs and repressed interest has supported their deals for the time being, however they should stand by and watch on how things turn out in the following not many weeks.

“Repressed interest and marriage shopping is carrying clients to our shops now. We are announcing acceptable deals as well. However, solely after a little while we will get a reasonable picture about our recovery,” said overseeing head of NAC jewellers, Anantha Padmanabhan. “If people continue buying gold even after the first two-three weeks, then it will be a sign that markets are on revival mode. However, we are worried about outbreak of third wave of the pandemic as it will bring another phase of lockdown.”

Diamond setters said because of the vulnerability they are not even ready to put resources into bringing out new supplies of jewellery. “Lockdown has been hard for us. Notwithstanding conclusion of the stores, we need to burn through cash on support of the display areas, paying pay rates to our representatives and craftsmans. We need to pay revenue to the banks moreover. In the midst of this, on the off chance that we acquire new stock to fulfill client need and another lockdown occurs, then, at that point we will be destroyed,” said Shyam Agarwal, a jeweller.

The gem dealer local area accepts the wedding season and Deepavali deals will assist them with getting their business in the groove again. “Assuming enough measures are taken to check third wave, we can think about some improvement,” said S Senthil, a jewellery store owner in Velachery.

Article Courtesy- The new indian express

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