Nasik has always been the centre of commerce and trade in India since historical period, but the growth witnessed here in the past few years is humongous. This has in turn changed the entire jewellery industry situated here. Since 1936, Takle Bandhu Jewellers have seen it all. “The city of Nasik has grown over the years and hence the business has also increased. At the same time competition has increased, too. Now, Nasik has become a complete buyer’s market,” shares Girish Takle, Director, Takle Bandhu Jewellers. Mohanish Thakur, Director, Thakur Jewellers narrates his story, “In 1989, we were the market openers in the Datta Mandir area of Nasik. But, now after so many years there are many competitors around us. There were many market fluctuations, too. There was a drastic fluctuation in rates in the year 2008, which led to good jewellery sales. People showed more interest in buying gold back then.” %% With so much development and boom in the market, the positivity was resounding in Nasik. “Since 2009, we have observed a good market development and Surana Jewellers have grown prosperously. Due to the good market developments, we now have clients not only from Nasik but also from Mumbai, Aurangabad and Malegaon. But, 2013-14 has been a bit slow for us,” shares Siddharth Surana, Director, Surana Jewellers. Ram Nagre, Director, Hari Om Jewellers pointed out the critical changes, “We were established in 2006 and initially one could give products on the basis of credit. But now due to many changes that happened in the span of four to five years, jewellers have stopped this policy.” Nilesh Baphana, Director, Baphana Jewellers expresses in few words, “Since 1999 till now, the market has highly jumped and since then the gold ornaments demand has grown rapidly.” %% Nasik is a mixture of both rural and urban therefore the designs that sell are contemporary as well as ethnic, informs Girish Takle. Siddharth Surana specifically says, “In gold, Maharashtrian-style jewellery works the most and in diamonds, designer style pieces have good demand.” Nilesh Baphana says, “Antique, traditional fancy rhodium work, kundan, temple jewellery, etc. sell well here.” Ram Nagre shares in detail, “Buyers today have not restricted themselves to only Maharashtra-inspired jewellery. There is a good demand for contemporary jewellery, innovative designs and lightweight jewellery in the current age. In fact, people are not just buying gold but are also showing interests towards diamond jewellery.” While Mohanish Thakur says, “Few years back, Maharashtrian-style jewellery was the only trend here. But as the city grew, people experimented with other styles like, Bengali, casting jewellery and many more. What we have observed is that every consumer these days wants a unique design. Consumers want pieces designed according to them and customised jewellery is trending vastly.” %%

Discussing the challenges faced, Girish Takle shares, “The gold price had increased and hence the demand for jewellery fell, but even after little stability in gold price, we haven’t seen much change. The demand is still low. Hence, in order to boost the sale we have to come up with different schemes and offer discounts in order to attract consumers.” While Siddharth Surana articulates, “We have faced difficulties only because of rise in import duty. Business has suffered due to this.” %% Since Nasik is a small city, the competition is more. Many jewellers are establishing themselves in Nasik now, which has led to a lot of competition. Initially there were competitions amongst the local jewellers but now even outsiders have established themselves in this city. “We now face outsider competition. Also, big brands have expanded their presence here and with their fancy schemes, etc., they are attracting more customers, which is again a challenge for us. Another challenge or rather a drawback that Nasik faces is in the field of wholesaling. The wholesale market in Nasik is very weak. We have to depend on other cities like Mumbai.” Mohanish Thakur feels the same pinch, “There is competition everywhere. The competition is increasing day by day. Earlier, the local jewellers had a fixed clientele. For instance, a family that bought jewellery passed on that tradition to their children, so their children would also use to buy jewellery from the same shop. Since big brands have arrived in the market, people want to try and experiment with their products. So this cycle of buying from the same shop from generation to generation is diminishing day by day.” On the other hand, Nilesh Baphana explains, “The lack of skilled labour, problems in metal transporting and scarcity of qualified salesmans are big challenges.” %% Discusisng the awarensess in patrons, Mohanish Thakur proudly says, “There is complete awareness of hallmark gold and certified diamonds. In fact, it is the duty of every jeweller to abide by these policies.” Ram Nagre concurs and states, “Customers are now smart buyers. They are aware of all the certifications and policies.” %% Since last two to three years, Nasik has seen some good developments. The famous Kumbhmela that happens once in 12 years is about to commence in 2015. Hence, there are many development projects underway. “Due to these projects and increasing infrastructure, we expect that the jewellery business will increase for all the jewellers based in Nasik,” says Girish Takle. The scope of jewellery market development in Nasik is promising and Nasik does have a bright future. There is industrial development that is in turn boosting the business. “China is investing in Nasik and that is an important reason for the growth seen here. Due to the industrial development, the business will grow too,” says Siddharth Surana. After Mumbai and Pune, Nasik is the upcoming hub for jewellery. There are more and more traders and jewellers coming into the city and helping it grow. “People here have new tastes and preferences and we just hope that our business keeps flourishing,” says hopeful Mohanish Thakur. Nilesh Baphana concludes with a request, “At present the gold and silver market is highly competitive and thus we would like to have gold jewellery trade shows in Nasik too.” %%

Nasik has always been the centre of commerce and trade in India since historical period, but the growth witnessed here in the past few years is humongous. This has in turn changed the entire jewellery industry situated here. Since 1936, Takle Bandhu Jewellers have seen it all. “The city of Nasik has grown over the years and hence the business has also increased. At the same time competition has increased, too. Now, Nasik has become a complete buyer’s market,” shares Girish Takle, Director, Takle Bandhu Jewellers. Mohanish Thakur, Director, Thakur Jewellers narrates his story, “In 1989, we were the market openers in the Datta Mandir area of Nasik. But, now after so many years there are many competitors around us. There were many market fluctuations, too. There was a drastic fluctuation in rates in the year 2008, which led to good jewellery sales. People showed more interest in buying gold back then.” %% With so much development and boom in the market, the positivity was resounding in Nasik. “Since 2009, we have observed a good market development and Surana Jewellers have grown prosperously. Due to the good market developments, we now have clients not only from Nasik but also from Mumbai, Aurangabad and Malegaon. But, 2013-14 has been a bit slow for us,” shares Siddharth Surana, Director, Surana Jewellers. Ram Nagre, Director, Hari Om Jewellers pointed out the critical changes, “We were established in 2006 and initially one could give products on the basis of credit. But now due to many changes that happened in the span of four to five years, jewellers have stopped this policy.” Nilesh Baphana, Director, Baphana Jewellers expresses in few words, “Since 1999 till now, the market has highly jumped and since then the gold ornaments demand has grown rapidly.” %% Nasik is a mixture of both rural and urban therefore the designs that sell are contemporary as well as ethnic, informs Girish Takle. Siddharth Surana specifically says, “In gold, Maharashtrian-style jewellery works the most and in diamonds, designer style pieces have good demand.” Nilesh Baphana says, “Antique, traditional fancy rhodium work, kundan, temple jewellery, etc. sell well here.” Ram Nagre shares in detail, “Buyers today have not restricted themselves to only Maharashtra-inspired jewellery. There is a good demand for contemporary jewellery, innovative designs and lightweight jewellery in the current age. In fact, people are not just buying gold but are also showing interests towards diamond jewellery.” While Mohanish Thakur says, “Few years back, Maharashtrian-style jewellery was the only trend here. But as the city grew, people experimented with other styles like, Bengali, casting jewellery and many more. What we have observed is that every consumer these days wants a unique design. Consumers want pieces designed according to them and customised jewellery is trending vastly.” %%

Discussing the challenges faced, Girish Takle shares, “The gold price had increased and hence the demand for jewellery fell, but even after little stability in gold price, we haven’t seen much change. The demand is still low. Hence, in order to boost the sale we have to come up with different schemes and offer discounts in order to attract consumers.” While Siddharth Surana articulates, “We have faced difficulties only because of rise in import duty. Business has suffered due to this.” %% Since Nasik is a small city, the competition is more. Many jewellers are establishing themselves in Nasik now, which has led to a lot of competition. Initially there were competitions amongst the local jewellers but now even outsiders have established themselves in this city. “We now face outsider competition. Also, big brands have expanded their presence here and with their fancy schemes, etc., they are attracting more customers, which is again a challenge for us. Another challenge or rather a drawback that Nasik faces is in the field of wholesaling. The wholesale market in Nasik is very weak. We have to depend on other cities like Mumbai.” Mohanish Thakur feels the same pinch, “There is competition everywhere. The competition is increasing day by day. Earlier, the local jewellers had a fixed clientele. For instance, a family that bought jewellery passed on that tradition to their children, so their children would also use to buy jewellery from the same shop. Since big brands have arrived in the market, people want to try and experiment with their products. So this cycle of buying from the same shop from generation to generation is diminishing day by day.” On the other hand, Nilesh Baphana explains, “The lack of skilled labour, problems in metal transporting and scarcity of qualified salesmans are big challenges.” %% Discusisng the awarensess in patrons, Mohanish Thakur proudly says, “There is complete awareness of hallmark gold and certified diamonds. In fact, it is the duty of every jeweller to abide by these policies.” Ram Nagre concurs and states, “Customers are now smart buyers. They are aware of all the certifications and policies.” %% Since last two to three years, Nasik has seen some good developments. The famous Kumbhmela that happens once in 12 years is about to commence in 2015. Hence, there are many development projects underway. “Due to these projects and increasing infrastructure, we expect that the jewellery business will increase for all the jewellers based in Nasik,” says Girish Takle. The scope of jewellery market development in Nasik is promising and Nasik does have a bright future. There is industrial development that is in turn boosting the business. “China is investing in Nasik and that is an important reason for the growth seen here. Due to the industrial development, the business will grow too,” says Siddharth Surana. After Mumbai and Pune, Nasik is the upcoming hub for jewellery. There are more and more traders and jewellers coming into the city and helping it grow. “People here have new tastes and preferences and we just hope that our business keeps flourishing,” says hopeful Mohanish Thakur. Nilesh Baphana concludes with a request, “At present the gold and silver market is highly competitive and thus we would like to have gold jewellery trade shows in Nasik too.” %%

Nasik has always been the centre of commerce and trade in India since historical period, but the growth witnessed here in the past few years is humongous. This has in turn changed the entire jewellery industry situated here. Since 1936, Takle Bandhu Jewellers have seen it all. “The city of Nasik has grown over the years and hence the business has also increased. At the same time competition has increased, too. Now, Nasik has become a complete buyer’s market,” shares Girish Takle, Director, Takle Bandhu Jewellers. Mohanish Thakur, Director, Thakur Jewellers narrates his story, “In 1989, we were the market openers in the Datta Mandir area of Nasik. But, now after so many years there are many competitors around us. There were many market fluctuations, too. There was a drastic fluctuation in rates in the year 2008, which led to good jewellery sales. People showed more interest in buying gold back then.” %% With so much development and boom in the market, the positivity was resounding in Nasik. “Since 2009, we have observed a good market development and Surana Jewellers have grown prosperously. Due to the good market developments, we now have clients not only from Nasik but also from Mumbai, Aurangabad and Malegaon. But, 2013-14 has been a bit slow for us,” shares Siddharth Surana, Director, Surana Jewellers. Ram Nagre, Director, Hari Om Jewellers pointed out the critical changes, “We were established in 2006 and initially one could give products on the basis of credit. But now due to many changes that happened in the span of four to five years, jewellers have stopped this policy.” Nilesh Baphana, Director, Baphana Jewellers expresses in few words, “Since 1999 till now, the market has highly jumped and since then the gold ornaments demand has grown rapidly.” %% Nasik is a mixture of both rural and urban therefore the designs that sell are contemporary as well as ethnic, informs Girish Takle. Siddharth Surana specifically says, “In gold, Maharashtrian-style jewellery works the most and in diamonds, designer style pieces have good demand.” Nilesh Baphana says, “Antique, traditional fancy rhodium work, kundan, temple jewellery, etc. sell well here.” Ram Nagre shares in detail, “Buyers today have not restricted themselves to only Maharashtra-inspired jewellery. There is a good demand for contemporary jewellery, innovative designs and lightweight jewellery in the current age. In fact, people are not just buying gold but are also showing interests towards diamond jewellery.” While Mohanish Thakur says, “Few years back, Maharashtrian-style jewellery was the only trend here. But as the city grew, people experimented with other styles like, Bengali, casting jewellery and many more. What we have observed is that every consumer these days wants a unique design. Consumers want pieces designed according to them and customised jewellery is trending vastly.” %%

Discussing the challenges faced, Girish Takle shares, “The gold price had increased and hence the demand for jewellery fell, but even after little stability in gold price, we haven’t seen much change. The demand is still low. Hence, in order to boost the sale we have to come up with different schemes and offer discounts in order to attract consumers.” While Siddharth Surana articulates, “We have faced difficulties only because of rise in import duty. Business has suffered due to this.” %% Since Nasik is a small city, the competition is more. Many jewellers are establishing themselves in Nasik now, which has led to a lot of competition. Initially there were competitions amongst the local jewellers but now even outsiders have established themselves in this city. “We now face outsider competition. Also, big brands have expanded their presence here and with their fancy schemes, etc., they are attracting more customers, which is again a challenge for us. Another challenge or rather a drawback that Nasik faces is in the field of wholesaling. The wholesale market in Nasik is very weak. We have to depend on other cities like Mumbai.” Mohanish Thakur feels the same pinch, “There is competition everywhere. The competition is increasing day by day. Earlier, the local jewellers had a fixed clientele. For instance, a family that bought jewellery passed on that tradition to their children, so their children would also use to buy jewellery from the same shop. Since big brands have arrived in the market, people want to try and experiment with their products. So this cycle of buying from the same shop from generation to generation is diminishing day by day.” On the other hand, Nilesh Baphana explains, “The lack of skilled labour, problems in metal transporting and scarcity of qualified salesmans are big challenges.” %% Discusisng the awarensess in patrons, Mohanish Thakur proudly says, “There is complete awareness of hallmark gold and certified diamonds. In fact, it is the duty of every jeweller to abide by these policies.” Ram Nagre concurs and states, “Customers are now smart buyers. They are aware of all the certifications and policies.” %% Since last two to three years, Nasik has seen some good developments. The famous Kumbhmela that happens once in 12 years is about to commence in 2015. Hence, there are many development projects underway. “Due to these projects and increasing infrastructure, we expect that the jewellery business will increase for all the jewellers based in Nasik,” says Girish Takle. The scope of jewellery market development in Nasik is promising and Nasik does have a bright future. There is industrial development that is in turn boosting the business. “China is investing in Nasik and that is an important reason for the growth seen here. Due to the industrial development, the business will grow too,” says Siddharth Surana. After Mumbai and Pune, Nasik is the upcoming hub for jewellery. There are more and more traders and jewellers coming into the city and helping it grow. “People here have new tastes and preferences and we just hope that our business keeps flourishing,” says hopeful Mohanish Thakur. Nilesh Baphana concludes with a request, “At present the gold and silver market is highly competitive and thus we would like to have gold jewellery trade shows in Nasik too.” %%