Members of the Swarnkar Samaj gathered at a meeting in Munim Chowk on Monday to express deep concern over the ongoing slowdown in the bullion and jewellery market. The downturn, they warned, is sending shockwaves through the entire value chain, from artisans and goldsmiths to small units, wholesalers, and retailers.
State vice-president highlights sector-wide distress
State vice-president Vinod Verma stated that the persistent downturn is adversely affecting every link in the sector’s value chain. He emphasized that if the slowdown continues, it could lead to severe repercussions for employment and production levels. Small businesses and traditional craftsmen, who depend heavily on steady sales, are particularly vulnerable, participants noted.
Declining demand threatens livelihoods
Participants at the meeting pointed out that declining consumer demand is putting immense pressure on small-scale enterprises and skilled artisans. Concerns were raised about job security and the long-term sustainability of the trade. The meeting underscored the urgent need for intervention to protect the livelihoods of thousands involved in the bullion and jewellery industry.
Call for supportive policies and stable business environment
Vinod Verma stressed the necessity of implementing supportive policies and fostering a stable business environment. He argued that such measures are crucial to boost consumer confidence and alleviate the pressure on the sector. The Swarnkar Samaj urged the government to take proactive steps to revive demand and ensure the survival of the trade, which holds cultural and economic significance.
The meeting concluded with a resolve to engage with policymakers and industry stakeholders to address the crisis. The Samaj plans to submit a memorandum detailing their concerns and recommendations to the district administration and relevant government departments.
