Kerala gold shops aim for record ₹10,000cr Onam sales
Business
Kerala's gold shops are aiming for a record ₹10,000 crore in sales this Onam, up from last year's ₹7,000 to ₹8,000 crore.
With the festival overlapping wedding season, demand is high among locals and NRIs alike.
But with 22-carat gold now at ₹14,600 per gram, many shoppers might pick lighter jewelry or swap old gold for new.
Small Kerala jewelers seek government support
Even though total sales value could rise because of steep prices, people might actually buy less gold by weight.
Smaller jewelers are struggling with rising costs and tougher rules this season.
The merchants' association is asking the government to step in and help small businesses get through this busy period.