Satara boasts of rich historical, political and cultural heritage. Besides, think of Satara and in comes the thought of devouring sweet, delicious Kandi Pedha. Over the years, this city has come a long way from being the oldest city to be the highest sugar producing as well as a district of power due to the chain of windmills doting its surrounding mountain ranges. Kavita Parab tried to find out more about the jewellery industry in this fastest growing industrial city of Maharashtra. From Ranihaars and Kolhapuri Saaj to lightweight gold and sterling jewellery, the market has accommodated most burgeoning and obsolete trends. %% The present Satara has seen many upheavals be it political, social or historical. However, the city has adapted to the changing times bit by bit. Though it took time for the industrialisation to find its footing in Satara, today the city is on its way to carve its niche on the map of industrial sector. While the wave of change is taking over slowly, jewellery industry is taking its own time to have a face-lift. “At its heart it is still the traditional market mainly dominated by the yellow metal”, echoes Jayant Palkar, third generation jeweller from Palkar Jewellers. %% Modern day consumer’s preference for lightweight, trendy jewellery has made way for more and more jewellery being sourced from the cities likes Mumbai and Pune. Jewellers here no more have workshops to manufacture jewellery barring few like Palkar Jewellers and Sumti Gold. They make 80 per cent of their jewellery in their Karad and Pune workshops, respectively while the remaining 20 per cent design-specific pieces are sourced from Mumbai and Pune. Shrenik Shah, Proprietor, Mhaswadkar Saraf Pvt Ltd, commenting on the last five year’s buying trend in Satara said, “The art of handmade jewellery making is fast vanishing here as the consumers demand new, fashion jewellery which is machine made. More and more consumers are giving a miss to traditional jewellery as they are giving preference to lightweight, delicate jewellery.” %% Rising gold prices have also had an impact on the jewellery industry here. The shift from heavy to light jewellery is one of the results of surging gold prices. Consumer is wary to make long-term investment in gold as there is no quick turnaround as it is in real estate, informs Jayant Palkar of Palkar Jewellers. Pankaj Nagori, owner of Kailas Jeweller, observes that consumer doesn’t look at gold as an investment rather it is treated only as basic requirement as a gift during marriages. Further, Pankaj Nagori said, “Now-a-days, when surplus cash is available with the consumer, gold is not the only thing on his mind. There is thought of buying latest wheels or an electronic gadget which is eating into the jewellery market here.” %%

When quipped about how do the jewellers in Satara cope with fluctuating gold prices and withering consumer numbers, Bansilal Devi, Proprietor, Devi Jewellers, a legend in his own right shared his secret of retention of his customers, “We have introduced various schemes like DJ Suvarna Dhanasanchay Scheme wherein the consumer pays a deposit of Rs 500/- or more for 12 months and takes away the gold jewellery worth 13 monthly deposits and 13th installment is contributed by us. In addition, we offer certain discounts on the labour charges on these purchases. Then there are other schemes like Suvarna Kalash (gold deposit scheme), Dhanavruddhi (money deposit scheme) etc. The main idea behind these schemes is to retain our customers and allow them to buy gold as per their financial abilities.” Also, there is still a strong belief on operating on credit basis in order to hold on to the regular customers. %% In the cases of the entrance of new jewelers like P. N. Gadgil and Nakshatra brand showroom, there is a bag of mixed emotions amongst the jeweller fraternity of Satara. While Jayant Palkar of Palkar Jewellers feels that the traditional business would never suffer due to these entrants, Pankaj Nagori of Kailas Jewellers fears death of small time jewellery business as he finds these new entrants as a bigger threat to their business. He further said, “The small time jewellers would never be able to cope with the competition with the kind of design stock that these big names have brought in.” Vikram Oswal of Sumti Gold feels that ready cash business will definitely have an impact. He said, “If a consumer has ready cash available, he would demand variety which is easily available in showrooms like P. N. Gadgil. In such cases, customer is not concerned with a certain jeweller being his family jeweller.” However, Bansilal Devi of Devi Jewellers has different take on this. He said, “Customer may go to the fancy, new retail shops once out of novelty. But we have an edge over these showrooms as we operate on trust and credit. Also, these showrooms do not serve the needs of all income groups. Therefore, we would continue to have customers and the new entrant won’t make a big hole into our profits.” Also, many felt that traditional jewellers and new entrants can co-exist as each business has its pros and cons. %% Talking about which metal ruled the Satara jewellery market; gold was the obvious answer, as majority of the customers prefers yellow metal to silver and platinum. There is very little market for diamonds points out Shrenik Shah of Mhaswadkar Saraf Pvt Ltd. He added, “A religious concern over owning a diamond still keeps the diamond buyers at bay. There is only a high-income group of customers who have started asking for custom-made diamond jewellery but it is only 2 to 3 per cent of the entire demand.” %% As gold rules the market so does the gold jewellery. There is demand for all types of jewellery however youngsters prefer delicate, sterling silver jewellery. When it comes to making jewellery for marriage, customers here still prefer heavy gold jewellery due to its durability. Also, there is demand for meenakari, calcutti nakshi kam, polki, and antique jewellery as well. Also, movies and television have an impact on trends in jewellery designs, as currently many women are demanding a typical type of mangalsutra known as Janhavi Mangalsutras named after the popular character from a tele-serial. Temple jewellery is also quite in demand in Satara. Traditional jewellery pieces like Ranihaar and Kolhapuri Saaj are still demanded by the customers. %%

When quizzed about awareness about hallmark and certification, Jayant Palkar said, “Most customers in Satara and adjoining villages are quite aware of the hallmarked gold. And, if they are not aware, we as a certified hallmark jewellery seller explain the benefits of buying hallmark jewellery.” However, he further pointed out that there are about 10 per cent of the customers who prefer without hallmark and then they have to honour the customer’s preference. But, diamonds are always sold with apt certification. %% To spread the awareness about hallmark among the consumers as well as the buyers, Satara Saraf Association has also been taking consistent efforts. Motisheth Jain, President, Satara Saraf Association said, “Our association has been continually working towards safeguarding the interests of the fellow jewellers. We have been conducting regular seminars for consumers and jewellers to spread awareness of hallmark jewellery. Also, we get financial experts from banking sector to explain about gold loans to jewellers as most of the jewellers here provide loan against jewellery.” %% When asked about importance of advertising for the jewellery business, many of the jewellers felt that there is no need of it in Satara as majority of business is based on goodwill and trust. Jewellers like Pankaj Nagori of Kailas Jeweller said, “Even though we may want to advertise, we do not have financial backup to do it. Advertising needs big money and we don’t make big profits or do not have surplus cash to devote to advertising.” Bansilal Devi believes in keeping up with changing times. He said, “We do not have kept a separate corpus for advertising. But definitely we do spend around 1 per cent of our total turnover on advertising in newspapers, hoarding and radio.” %% As the country is about to witness change in Government, many of the jewellers from Satara expect positive growth of the business in the next five years though some of them cautioned about 2013-14 to be little tough for the jewellery business. “However, attraction for gold will continue,” said Jayant Palkar. While most of the jewellers are wary of 80:20 scheme, import duties and want relaxations in the conditions, Pankaj Nagori feels otherwise. He said, “Import duty is good as it is one of the revenues of the Government. There is a need of conscious efforts to be taken towards strengthening of Rupee.” Whereas Motisheth Jain said, “ The Government needs to bring awareness among the people to look at gold not just from mere ornamental purpose but as an investment tool.” %% The Satara jewellery industry may be small as compared to their counterparts from Mumbai and Pune but they are definitely making an effort to keep pace with the changing times. %%

Satara boasts of rich historical, political and cultural heritage. Besides, think of Satara and in comes the thought of devouring sweet, delicious Kandi Pedha. Over the years, this city has come a long way from being the oldest city to be the highest sugar producing as well as a district of power due to the chain of windmills doting its surrounding mountain ranges. Kavita Parab tried to find out more about the jewellery industry in this fastest growing industrial city of Maharashtra. From Ranihaars and Kolhapuri Saaj to lightweight gold and sterling jewellery, the market has accommodated most burgeoning and obsolete trends. %% The present Satara has seen many upheavals be it political, social or historical. However, the city has adapted to the changing times bit by bit. Though it took time for the industrialisation to find its footing in Satara, today the city is on its way to carve its niche on the map of industrial sector. While the wave of change is taking over slowly, jewellery industry is taking its own time to have a face-lift. “At its heart it is still the traditional market mainly dominated by the yellow metal”, echoes Jayant Palkar, third generation jeweller from Palkar Jewellers. %% Modern day consumer’s preference for lightweight, trendy jewellery has made way for more and more jewellery being sourced from the cities likes Mumbai and Pune. Jewellers here no more have workshops to manufacture jewellery barring few like Palkar Jewellers and Sumti Gold. They make 80 per cent of their jewellery in their Karad and Pune workshops, respectively while the remaining 20 per cent design-specific pieces are sourced from Mumbai and Pune. Shrenik Shah, Proprietor, Mhaswadkar Saraf Pvt Ltd, commenting on the last five year’s buying trend in Satara said, “The art of handmade jewellery making is fast vanishing here as the consumers demand new, fashion jewellery which is machine made. More and more consumers are giving a miss to traditional jewellery as they are giving preference to lightweight, delicate jewellery.” %% Rising gold prices have also had an impact on the jewellery industry here. The shift from heavy to light jewellery is one of the results of surging gold prices. Consumer is wary to make long-term investment in gold as there is no quick turnaround as it is in real estate, informs Jayant Palkar of Palkar Jewellers. Pankaj Nagori, owner of Kailas Jeweller, observes that consumer doesn’t look at gold as an investment rather it is treated only as basic requirement as a gift during marriages. Further, Pankaj Nagori said, “Now-a-days, when surplus cash is available with the consumer, gold is not the only thing on his mind. There is thought of buying latest wheels or an electronic gadget which is eating into the jewellery market here.” %%

When quipped about how do the jewellers in Satara cope with fluctuating gold prices and withering consumer numbers, Bansilal Devi, Proprietor, Devi Jewellers, a legend in his own right shared his secret of retention of his customers, “We have introduced various schemes like DJ Suvarna Dhanasanchay Scheme wherein the consumer pays a deposit of Rs 500/- or more for 12 months and takes away the gold jewellery worth 13 monthly deposits and 13th installment is contributed by us. In addition, we offer certain discounts on the labour charges on these purchases. Then there are other schemes like Suvarna Kalash (gold deposit scheme), Dhanavruddhi (money deposit scheme) etc. The main idea behind these schemes is to retain our customers and allow them to buy gold as per their financial abilities.” Also, there is still a strong belief on operating on credit basis in order to hold on to the regular customers. %% In the cases of the entrance of new jewelers like P. N. Gadgil and Nakshatra brand showroom, there is a bag of mixed emotions amongst the jeweller fraternity of Satara. While Jayant Palkar of Palkar Jewellers feels that the traditional business would never suffer due to these entrants, Pankaj Nagori of Kailas Jewellers fears death of small time jewellery business as he finds these new entrants as a bigger threat to their business. He further said, “The small time jewellers would never be able to cope with the competition with the kind of design stock that these big names have brought in.” Vikram Oswal of Sumti Gold feels that ready cash business will definitely have an impact. He said, “If a consumer has ready cash available, he would demand variety which is easily available in showrooms like P. N. Gadgil. In such cases, customer is not concerned with a certain jeweller being his family jeweller.” However, Bansilal Devi of Devi Jewellers has different take on this. He said, “Customer may go to the fancy, new retail shops once out of novelty. But we have an edge over these showrooms as we operate on trust and credit. Also, these showrooms do not serve the needs of all income groups. Therefore, we would continue to have customers and the new entrant won’t make a big hole into our profits.” Also, many felt that traditional jewellers and new entrants can co-exist as each business has its pros and cons. %% Talking about which metal ruled the Satara jewellery market; gold was the obvious answer, as majority of the customers prefers yellow metal to silver and platinum. There is very little market for diamonds points out Shrenik Shah of Mhaswadkar Saraf Pvt Ltd. He added, “A religious concern over owning a diamond still keeps the diamond buyers at bay. There is only a high-income group of customers who have started asking for custom-made diamond jewellery but it is only 2 to 3 per cent of the entire demand.” %% As gold rules the market so does the gold jewellery. There is demand for all types of jewellery however youngsters prefer delicate, sterling silver jewellery. When it comes to making jewellery for marriage, customers here still prefer heavy gold jewellery due to its durability. Also, there is demand for meenakari, calcutti nakshi kam, polki, and antique jewellery as well. Also, movies and television have an impact on trends in jewellery designs, as currently many women are demanding a typical type of mangalsutra known as Janhavi Mangalsutras named after the popular character from a tele-serial. Temple jewellery is also quite in demand in Satara. Traditional jewellery pieces like Ranihaar and Kolhapuri Saaj are still demanded by the customers. %%

When quizzed about awareness about hallmark and certification, Jayant Palkar said, “Most customers in Satara and adjoining villages are quite aware of the hallmarked gold. And, if they are not aware, we as a certified hallmark jewellery seller explain the benefits of buying hallmark jewellery.” However, he further pointed out that there are about 10 per cent of the customers who prefer without hallmark and then they have to honour the customer’s preference. But, diamonds are always sold with apt certification. %% To spread the awareness about hallmark among the consumers as well as the buyers, Satara Saraf Association has also been taking consistent efforts. Motisheth Jain, President, Satara Saraf Association said, “Our association has been continually working towards safeguarding the interests of the fellow jewellers. We have been conducting regular seminars for consumers and jewellers to spread awareness of hallmark jewellery. Also, we get financial experts from banking sector to explain about gold loans to jewellers as most of the jewellers here provide loan against jewellery.” %% When asked about importance of advertising for the jewellery business, many of the jewellers felt that there is no need of it in Satara as majority of business is based on goodwill and trust. Jewellers like Pankaj Nagori of Kailas Jeweller said, “Even though we may want to advertise, we do not have financial backup to do it. Advertising needs big money and we don’t make big profits or do not have surplus cash to devote to advertising.” Bansilal Devi believes in keeping up with changing times. He said, “We do not have kept a separate corpus for advertising. But definitely we do spend around 1 per cent of our total turnover on advertising in newspapers, hoarding and radio.” %% As the country is about to witness change in Government, many of the jewellers from Satara expect positive growth of the business in the next five years though some of them cautioned about 2013-14 to be little tough for the jewellery business. “However, attraction for gold will continue,” said Jayant Palkar. While most of the jewellers are wary of 80:20 scheme, import duties and want relaxations in the conditions, Pankaj Nagori feels otherwise. He said, “Import duty is good as it is one of the revenues of the Government. There is a need of conscious efforts to be taken towards strengthening of Rupee.” Whereas Motisheth Jain said, “ The Government needs to bring awareness among the people to look at gold not just from mere ornamental purpose but as an investment tool.” %% The Satara jewellery industry may be small as compared to their counterparts from Mumbai and Pune but they are definitely making an effort to keep pace with the changing times. %%

Satara boasts of rich historical, political and cultural heritage. Besides, think of Satara and in comes the thought of devouring sweet, delicious Kandi Pedha. Over the years, this city has come a long way from being the oldest city to be the highest sugar producing as well as a district of power due to the chain of windmills doting its surrounding mountain ranges. Kavita Parab tried to find out more about the jewellery industry in this fastest growing industrial city of Maharashtra. From Ranihaars and Kolhapuri Saaj to lightweight gold and sterling jewellery, the market has accommodated most burgeoning and obsolete trends. %% The present Satara has seen many upheavals be it political, social or historical. However, the city has adapted to the changing times bit by bit. Though it took time for the industrialisation to find its footing in Satara, today the city is on its way to carve its niche on the map of industrial sector. While the wave of change is taking over slowly, jewellery industry is taking its own time to have a face-lift. “At its heart it is still the traditional market mainly dominated by the yellow metal”, echoes Jayant Palkar, third generation jeweller from Palkar Jewellers. %% Modern day consumer’s preference for lightweight, trendy jewellery has made way for more and more jewellery being sourced from the cities likes Mumbai and Pune. Jewellers here no more have workshops to manufacture jewellery barring few like Palkar Jewellers and Sumti Gold. They make 80 per cent of their jewellery in their Karad and Pune workshops, respectively while the remaining 20 per cent design-specific pieces are sourced from Mumbai and Pune. Shrenik Shah, Proprietor, Mhaswadkar Saraf Pvt Ltd, commenting on the last five year’s buying trend in Satara said, “The art of handmade jewellery making is fast vanishing here as the consumers demand new, fashion jewellery which is machine made. More and more consumers are giving a miss to traditional jewellery as they are giving preference to lightweight, delicate jewellery.” %% Rising gold prices have also had an impact on the jewellery industry here. The shift from heavy to light jewellery is one of the results of surging gold prices. Consumer is wary to make long-term investment in gold as there is no quick turnaround as it is in real estate, informs Jayant Palkar of Palkar Jewellers. Pankaj Nagori, owner of Kailas Jeweller, observes that consumer doesn’t look at gold as an investment rather it is treated only as basic requirement as a gift during marriages. Further, Pankaj Nagori said, “Now-a-days, when surplus cash is available with the consumer, gold is not the only thing on his mind. There is thought of buying latest wheels or an electronic gadget which is eating into the jewellery market here.” %%

When quipped about how do the jewellers in Satara cope with fluctuating gold prices and withering consumer numbers, Bansilal Devi, Proprietor, Devi Jewellers, a legend in his own right shared his secret of retention of his customers, “We have introduced various schemes like DJ Suvarna Dhanasanchay Scheme wherein the consumer pays a deposit of Rs 500/- or more for 12 months and takes away the gold jewellery worth 13 monthly deposits and 13th installment is contributed by us. In addition, we offer certain discounts on the labour charges on these purchases. Then there are other schemes like Suvarna Kalash (gold deposit scheme), Dhanavruddhi (money deposit scheme) etc. The main idea behind these schemes is to retain our customers and allow them to buy gold as per their financial abilities.” Also, there is still a strong belief on operating on credit basis in order to hold on to the regular customers. %% In the cases of the entrance of new jewelers like P. N. Gadgil and Nakshatra brand showroom, there is a bag of mixed emotions amongst the jeweller fraternity of Satara. While Jayant Palkar of Palkar Jewellers feels that the traditional business would never suffer due to these entrants, Pankaj Nagori of Kailas Jewellers fears death of small time jewellery business as he finds these new entrants as a bigger threat to their business. He further said, “The small time jewellers would never be able to cope with the competition with the kind of design stock that these big names have brought in.” Vikram Oswal of Sumti Gold feels that ready cash business will definitely have an impact. He said, “If a consumer has ready cash available, he would demand variety which is easily available in showrooms like P. N. Gadgil. In such cases, customer is not concerned with a certain jeweller being his family jeweller.” However, Bansilal Devi of Devi Jewellers has different take on this. He said, “Customer may go to the fancy, new retail shops once out of novelty. But we have an edge over these showrooms as we operate on trust and credit. Also, these showrooms do not serve the needs of all income groups. Therefore, we would continue to have customers and the new entrant won’t make a big hole into our profits.” Also, many felt that traditional jewellers and new entrants can co-exist as each business has its pros and cons. %% Talking about which metal ruled the Satara jewellery market; gold was the obvious answer, as majority of the customers prefers yellow metal to silver and platinum. There is very little market for diamonds points out Shrenik Shah of Mhaswadkar Saraf Pvt Ltd. He added, “A religious concern over owning a diamond still keeps the diamond buyers at bay. There is only a high-income group of customers who have started asking for custom-made diamond jewellery but it is only 2 to 3 per cent of the entire demand.” %% As gold rules the market so does the gold jewellery. There is demand for all types of jewellery however youngsters prefer delicate, sterling silver jewellery. When it comes to making jewellery for marriage, customers here still prefer heavy gold jewellery due to its durability. Also, there is demand for meenakari, calcutti nakshi kam, polki, and antique jewellery as well. Also, movies and television have an impact on trends in jewellery designs, as currently many women are demanding a typical type of mangalsutra known as Janhavi Mangalsutras named after the popular character from a tele-serial. Temple jewellery is also quite in demand in Satara. Traditional jewellery pieces like Ranihaar and Kolhapuri Saaj are still demanded by the customers. %%

When quizzed about awareness about hallmark and certification, Jayant Palkar said, “Most customers in Satara and adjoining villages are quite aware of the hallmarked gold. And, if they are not aware, we as a certified hallmark jewellery seller explain the benefits of buying hallmark jewellery.” However, he further pointed out that there are about 10 per cent of the customers who prefer without hallmark and then they have to honour the customer’s preference. But, diamonds are always sold with apt certification. %% To spread the awareness about hallmark among the consumers as well as the buyers, Satara Saraf Association has also been taking consistent efforts. Motisheth Jain, President, Satara Saraf Association said, “Our association has been continually working towards safeguarding the interests of the fellow jewellers. We have been conducting regular seminars for consumers and jewellers to spread awareness of hallmark jewellery. Also, we get financial experts from banking sector to explain about gold loans to jewellers as most of the jewellers here provide loan against jewellery.” %% When asked about importance of advertising for the jewellery business, many of the jewellers felt that there is no need of it in Satara as majority of business is based on goodwill and trust. Jewellers like Pankaj Nagori of Kailas Jeweller said, “Even though we may want to advertise, we do not have financial backup to do it. Advertising needs big money and we don’t make big profits or do not have surplus cash to devote to advertising.” Bansilal Devi believes in keeping up with changing times. He said, “We do not have kept a separate corpus for advertising. But definitely we do spend around 1 per cent of our total turnover on advertising in newspapers, hoarding and radio.” %% As the country is about to witness change in Government, many of the jewellers from Satara expect positive growth of the business in the next five years though some of them cautioned about 2013-14 to be little tough for the jewellery business. “However, attraction for gold will continue,” said Jayant Palkar. While most of the jewellers are wary of 80:20 scheme, import duties and want relaxations in the conditions, Pankaj Nagori feels otherwise. He said, “Import duty is good as it is one of the revenues of the Government. There is a need of conscious efforts to be taken towards strengthening of Rupee.” Whereas Motisheth Jain said, “ The Government needs to bring awareness among the people to look at gold not just from mere ornamental purpose but as an investment tool.” %% The Satara jewellery industry may be small as compared to their counterparts from Mumbai and Pune but they are definitely making an effort to keep pace with the changing times. %%