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7.10.09

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People in Srinagar are buying artificial jewellery instead of gold jewellery as it gives them more variety and is cheaper.

"The big sets that you buy you just dump the things in the lockers. These things you buy, you wear it and throw it. Even if you lose it nobody minds. These days it's very difficult to differentiate between the original jewellery and artificial jewellery," said Reena Sharma, a customer.

The demand for gold normally rises between August and October when consumers buy gold in huge quantity for auspicious occasions to celebrate major Hindu festivals like Dussehra, Diwali and Dhanteras.

But as the gold prices are on a rise, buyers resort to artificial jewellery.

"Today if you go to buy gold, it costs rupees 18,000 per 10 grams. There is a major trend of artificial jewellery because of many varieties available. The gold has become very costly so people prefer artificial jewellery," said Shravan Puri, owner of a jewellery showroom.

India is the biggest buyer of gold in the world.

According to industrial survey, India has about 100,000 workshops supplying gold jewellery to nearly 300,000 retail outlets


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