Silver price surge takes the shine off Karimnagar Silver Filigree art
The Karimnagar Silver Filigree industry is struggling due to a 260% increase in silver prices over the past five years. Artisans report a significant drop in sales, with many customers opting for bullion instead of handcrafted items. The rising costs have forced craftsmen to adapt by creating smaller and lighter pieces for gifting.
- ▪The Karimnagar Silver Filigree industry has seen a nearly 50% decline in business.
- ▪Artisans are finding it difficult to pay their workers due to reduced sales.
- ▪The price of silver has surged, making handcrafted items less affordable for consumers.
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The 260% jump in the price of silver over the past five years has brought the Karimnagar Silver Filigree industry to its knees. “The business is down by nearly 50% and we are finding it difficult to pay artisans. Customers are shifting to bullion as an investment rather than purchasing the beautiful deer, peacocks, ships and other creations of our trade,” says Venkateswarlu Akoju, treasurer of Silver Filigree Handicrafts Society (SIFKA).The impact is not limited to the intricate and exquisite Silver Filigree work (Tarkashi) but has also hurt the Nakkashi metalcraft makers from the same region.
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