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  • Recession In India’s Big Imitation Market At Rajkot And 6500 Unit Closed Due To Corona And Lockdown

RajkotOne hour ago

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Imitation Jewelery is exported to 56 countries of the world.

The Imitation Jewelery Market in Rajkot is the largest market in the country. From here, Imitation Jewelery is exported to 56 countries of the world. In the second wave of Corona, this industry was eclipsed by recession. Religious places, fairs, wedding ceremonies and bargaining abroad have led to a slowdown in the imitation market.

Production has come to a standstill due to the closure of exports. Retailer Narendrabhai Mehta told that its demand in the market is very less, so wholesale purchases have been stopped. Out of 15,000 units in the city, 6,500 units are closed. This has affected the employment of 3 lakh people. In the last two months, 5 to 6 artisans committed suicide.

Out of 15,000 units in the city, 6,500 units are closed. This has affected the employment of 3 lakh people.

Out of 15,000 units in the city, 6,500 units are closed. This has affected the employment of 3 lakh people.

Jignesh Shah, president of Imitation Jewelery Market Association, said that he has demanded financial relief from the government. He said that if the government gives it industry status, then traders can get encouragement. After Corona, the situation has become very difficult. Due to closure of business, artisans working in factories are forced to commit suicide.

Helplessness
Narendrabhai said that the wholesale market and the production unit owners are facing a double whammy. On one hand there is less demand in the market and on the other hand the prices of many metals have increased. The prices of iron, zinc, copper, pearl, diamond, wax, brass and plastic cans used in imitation jewelery have increased by 20 to 30%. There is a compulsion to close the factory due to non-purchase.

Jignesh Shah, President, Imitation Jewelery Market Association.

Jignesh Shah, President, Imitation Jewelery Market Association.

demand
Imitation jewelery from Rajkot is used extensively in the film industry. Imitation jewelery has been used here in many serials including Balika Vadhu, Kyunki Saas Bhi Kabhi Bahu Thi. Imitation jewelery is sent from Rajkot in Sanjay Leela Bhansali’s films.

Employment
There are more than 15 thousand small and big factories in Rajkot. Out of this, 6,500 units have been closed. This provided employment to more than 6 lakh people. More than 3 lakh people have become unemployed due to the closure of factories.

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