Bhubaneswar: Prime Minister Narendra Modi’s appeal urging people to avoid non-essential gold purchases for a year to ease pressure on foreign exchange reserves has sparked concern among stakeholders in the jewelery industry.For many in the trade, the worry goes beyond falling sales figures. Jewelers argue that gold buying, especially in Odisha, is closely woven into weddings, festivals and family traditions, making it difficult to classify as non-essential. If consumers seriously cut down on buying gold, the impact will ripple through the entire ecosystem, from small jewelery shop owners to traditional goldsmiths and artisans whose livelihoods depend on the steady demand for ornaments.A prolonged slowdown could leave thousands of workers struggling for income. Industry members say the sector supports not just businesses, but generations of skilled craftsmen who rely on daily work to sustain their families.Secretary of Odisha Jewelers Association and director of All India Gems and Jewelery Domestic Council Sourav Roy said the Prime Minister’s words are likely to influence public sentiment. “When the Prime Minister makes such an appeal, people are bound to pause and rethink their spending. But it is a direct blow to the sector. The appeal comes at a time when the jewelery industry is already bearing the brunt of the high gold price impacting business in the ongoing wedding season. If people even consider cutting down on the purchases now, it will push the sector to the brink,” he said.Roy added that the association would appeal to the PM to rethink the strategy on gold purchases rather than asking people to avoid buying non-essential gold. “Gold is a high-value product, which is why the GST on it is 3%. Also, even a small amount of it is an investment unlike landed property or a house,” he said.The biggest anxiety, however, is among artisans and goldsmiths who work behind the scenes crafting ornaments by hand. In cities such as Cuttack, Bhubaneswar and Berhampur, along with several smaller towns known for hereditary jewelery craftsmanship, thousands of families rely entirely on this trade for survival.Biswanath Patra, a goldsmith from Cuttack, said even a marginal fall in demand directly affects workers like him. “A slight dip in gold sales means fewer orders, delayed payments and shrinking income for us,” he said. Unlike big jewelry businesses, many goldsmiths work on daily wages or are paid per piece. If purchases slow down during the wedding and festive season, artisans will suffer the most, he added.
