Burdened by loans, Coimbatore's goldsmiths look for brighter future

Five years ago, G Jagannathan, a goldsmith moved to Coimbatore from Ramanathapuram to join the 35,000-strong community of craftspersons like himself. He thought Coimbatore would offer more opportunities than his hometown of Ramanathapuram, where no one was placing orders for fine jewellery. Now, he's looking for a new job because he can't make ends meet. Jagannathan's dilemma is illustrative of the goldsmiths of Coimbatore, who were once among the richest communities in the city.

Over the last few months, a number of them have committed suicide as they haven't been getting enough orders and are in debt. The sad irony is that goldsmiths are committing suicide at a time when gold prices are climbing, and there seems to be as much enthusiasm for the yellow metal, going by the crowds in the shops on Raja Street, where most of the city's glittering showrooms are located.

The goldsmiths, usually Telugus and Kannadigas, never voted as a bloc. But this time they've been presenting a list of demands, which includes fixed minimum wages in jewellery factories and standard rates for making and wastage charges. They recently met BJP candidate Vanathi Srinivasan to explain their problems as they feel a national party can effect policy changes at the central level, which will trickle down to them.

"The state and central governments give special privileges to farmers. We should also get loans at lower rates of interest so that we don't have to turn to prove moneylenders who charge high rates of interest," says Jagannathan.

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