Market Shifts and Price Instability Erode Salem's Silver Anklet Industry
Erratic silver bullion prices and shifting cultural norms are driving thousands of skilled artisans in Salem to abandon their traditional craft. Manufacturers report a sharp decline in retail demand as students increasingly move away from wearing anklets.
Fluctuating Bullion Costs Destabilize Local Economy
The silver anklet industry in Salem district is grappling with intense economic pressure as bullion prices swing wildly, forcing veteran laborers to seek alternative employment. In January, silver started at ₹3.18 lakh per kg, climbing to ₹4.05 lakh within weeks before plummeting to ₹2.30 lakh by June. Though prices saw a temporary recovery to ₹2.60 lakh in early July, the current rate of ₹2.38 lakh per kg maintains a state of high uncertainty for local businesses.
Labor Migration and Manufacturing Strain
The crisis impacts over 1,000 manufacturing units across hubs like Shevapet, Ponnammapet, and Kondalampatti. These facilities, which include sites in Nangavalli and Sooramangalam, traditionally sustain over 50,000 jobs. C. Sree Anandharajan, president of the Salem Silver Anklet Manufacturers’ Handicraft Welfare Association, notes that order volumes have dwindled over the last six months. Consequently, laborers who previously worked full-time now find employment only two to three days a week, prompting many to relegate silver work to a part-time pursuit.
The Impact of Changing Social Norms
Beyond market volatility, shifting institutional rules are altering consumption patterns. Manufacturer P. Elango of Shevapet highlights a downward trend in retail demand linked to school policies. Key factors affecting the industry include:
- School administrations discouraging students from wearing anklets to prevent loss during physical activities.
- Heavy financial losses for small and medium-scale manufacturers who rely on family labor.
- A cooling retail market as fashion trends move away from traditional silver jewelry.
The result is an industry in transition, where the combination of high entry costs for raw materials and a shrinking buyer base threatens the survival of Salem's historic artisan clusters.
Source: The Hindu — Cities
