Mysore hosting gold jewellery festival
Gold merchants in Mysore have put up a jewellery festival to boost sale of gold and gold ornaments in this royal city.
Encouraged by the increasing demand for gold in the Mysore market, the gold jewellery merchants have organised the jewellery festival from April 10 to May 25 in their shops all over the city.
Organized for the first time, the ‘Mysore gold fest 2006’ is organised independently of the Karnataka gold festival, which began on the same day in Bangalore, the state capital.
The Mysore Shroff Varthakara Sangha or the Jewellers’ Association had participated in the State festival last year. Four prizes were set apart for Mysore district. “But this time, we have organized an independent show”, says Association Secretary Mr. K.N. Gupta.
One kg of gold is offered under a prize scheme during the 45-day shopping festival.
About a hundred leading shops, out of 136 members the association has on its rolls, are participating in the festival. Mysore city has around 1,000 jewellers’ shops.
According to Association President Mr. N.Nagappa Setty, demand for gold is rising every year in the fast-developing city of Mysore, which is also witnessing a property boom. The property boom, however, has not affected the demand for gold.
“This promotion will have a good impact on jewellery sales. Buyers will benefit from this promotion. Besides, one lucky winner will bag a bumper prize of half kg gold and 100 others five grams of gold each on a purchase of Rs. 2,000 worth jewellery, in the draw of the lucky coupon to be conducted on May 26. This should set a new record in gold jewellery sale in Mysore.”
The festival coincides with the wedding season and the auspicious ‘Akshaya Tritiya’, which falls on April 30. The day is considered the most auspicious for purchase of gold as bringing fresh gold to home heralds good luck and prosperity for the entire family. “On this day, we see 40-50 per cent extra business every year and this year we hope to set a new record,” Mr. Nagappa Setty says.
“Presently, we are marking our jewellery with our shop initials and 9.16 figures, indicating that it is of 22 carrot purity,” Association Treasurer Mr. K.G.Srinivasa Setty said.
The demand for Mysore traditional jewellery, like necklace with swan, Ganda Bherunda (double-headed eagle) and ‘Kade’ (gold bracelet) is also rising of recent.
Mysore was famous for its traditional designs in gold jewellery requiring special artistry and these items are being revived again as the demand is rising, added the Association President.