Coronavirus, which has spread its footprint across the world, has shaken the global economy. Its bad effect is now being seen in India's economy as well. Coronavirus has tremendously influenced the gem and jewelry business. An increasing number of patients due to this virus is causing great harm to the jewelry coronary. Due to this, only 20 to 25 percent of the business is being done in the jewelry industry. Due to coronavirus, jewelry customers are becoming increasingly less.
Anant Padmanabhan, president of the All India Gem and Jewelry Domestic Council, said that due to fear of coronavirus, the number of customers at jewelry shops is steadily declining. In such a situation, retailers are doing only 20-25 percent of the business across the country.
Anant Padmanabhan said that due to coronavirus or COVID-19, there is an atmosphere of fear among the people. At the same time, to prevent it from spreading, the government has closed malls, cinemas and other crowded places as a precaution. In such a situation, people are going out this month to buy mostly essential goods, which has had a bad effect on the jewelry trade.
At the same time, Tanya Rastogi, director of Lala Jugal Kishore Jewelers, says that the Indian gems and jewelry business is mostly based on marriage. In such a situation, events like marriage are being canceled due to coronavirus. Due to this, the wedding shopping has stopped, which has a negative impact on the jewelry business. At the same time, Kumar Jain, owner of Ummedmal Tilokchand (UT) Jewelry Store, has to say on this whole matter that due to coronavirus, even the wedding season is missing from Mumbai in Zaveri Bazaar. In such a situation, it can be guessed that the jewelry business is suffering due to coronavirus.
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