this sleepy indian town is a mecca of gold jewellery—and a smuggling hotspot - womens gold jewellery sets

by:JINGLIXIN     2019-07-26
this sleepy indian town is a mecca of gold jewellery—and a smuggling hotspot  -  womens gold jewellery sets
From the Forest area of Kerala vianard to the northeast of southern Indian state, the scenery is amazing.
But just before entering the coastal city of kozhicod, there was some shock on the humble highway.
The yellow reflected from both sides of the road is inevitable.
It is the small town of Koduvally, also known as the golden city of Kerala, Dusty.
There are more than 100 gold stores in 500-
Koduvally is one of the most intensive jewelry centers in India and one of the largest gold markets in India.
The difference between Koduvally and Mumbai's Zaveri Bazaar is that Jewelers in Southern Indian towns focus on individual buyers. The Zaveri market is the main place for gold trade in India.
"There are less than 50,000 people in this town.
In fact, I call it a village.
But there are so many gold stores that have been around for decades, "said K Surendran, owner of Archana jeweller, who is also head of the local gold Association at Koduvally.
"Most people who come here are looking for jewelry for themselves or their families, not for deals, etc.
The Indian people love gold.
So this country is the second one.
The world's largest importer of precious metals. Of the 505.
In July, 8 tons of gold were imported from all over the world-
In September 2018, India accounted for more than one quarter (134. 8 tonnes)—
Second only to China.
According to the World Gold Council, in Indian folklore and ancient legal texts, gold ornaments, like manuscripts, must be worn in important places, ensuring the popularity of gold hereWGC).
Hindus even have special days to buy gold, such as Akshay Tritiya (
Today (May 07) is celebrating
And the Dhanteras that fell before Diwali in the second half of this year.
Kerala topped the gold obsession list.
According to WGC 2017, residents in the southern state spend the most on gold compared to anywhere else in the country.
Unlike some other regions, urban and rural populations in Kerala are squandering gold.
The history of gold in Kerala before the 20 th century, people think there is no jewelry store in Kerala.
The Goldsmith entered the door. to-
The door to the sale of goods to women when they are still restricted to their homes.
Things changed about 130 when a pair of jewellers ventured to open a store in Koduvally.
These numbers have gradually increased and eventually become one of the most intensive gold markets in the country.
Great changes have taken place since then.
Now, Kozhikode, nearly 23 kilometers from Koduvally, has a mobile jewelry showroom on the bus.
For years, even if smaller stores continue to thrive, brand jewelers have been using their funky showroom to attract buyers in the state.
In fact, these small local shops are more than just sellers.
Suredran said they are involved in gold procurement, manufacturing, design and purity testing from their small facilities, such as Koduvally's stores.
This is far from some organized retail stores in the Metropolitan, where decorations are shipped from large warehouses across the country and shops are just for sale.
These personalized services offered by small stores are one of the reasons for keeping customers loyal, even in the face of growing multinationals.
But for Koduvally's jewellers, this is not entirely bright and shiny.
In recent years, Koduvally has been making headlines for various wrong reasons.
According to the revenue intelligence agency, it has become a smuggling center, which now accounts for the largest number of smugglers.
In addition to gold cookies and bars that are often illegally brought into the area, traffickers have been innovating and even using it to circumvent officials.
However, the locals quickly denied the claim, saying that it was only a major mafia that destroyed the name, and that the local jewelry store had no effect.
The gold business in gold town has also ushered in a new era.
Surendran explained: "Earlier, Koduvally was the place where all the people in the neighborhood were even slightly away from the area to buy gold, but now that has changed.
"Early on, two people will start a business and they will be separated in a few years.
People will then go to another area to open a new store.
So the market is not as concentrated as it was before 2000.
"But these bumps barely affect Koduvally's obsession with gold and may not change things in the future.
"One must take into account the demographic divide of Koduvally, which is nearly 90% Muslims in the region, with only 10% Hindus.
Now, as many Muslims are also working in the Gulf countries, where gold is equally valued, we expect demand here to continue to grow, and the owner of another jewelry store over the age of 30 asks for anonymity.
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