Silver price swings devastate Salem's anklet industry, thousands of workers at risk

The dramatic fluctuations in silver bullion prices over the past six months have severely disrupted the silver anklet manufacturing sector in Salem district, forcing many workers to seek alternative employment, according to industry representatives.

Over 1,000 silver anklet manufacturing units operate across several areas of Salem, including Shevapet, Ponnammapet, and Kondalampatti. These units provide direct and indirect employment to more than 50,000 workers. The volatility in silver prices has led to a sharp decline in orders, with workers now receiving jobs only two to three times a week.

Silver bullion prices surged from ₹3.18 lakh per kg on January 1 to ₹4.05 lakh by the end of January, before crashing to ₹2.30 lakh per kg in June. After a brief recovery to ₹2.60 lakh in early July, prices have since fallen again to ₹2.38 lakh per kg. This instability has made it difficult for manufacturers to plan production and set prices.

C. Sree Anandharajan, president of the Salem Silver Anklet Manufacturers’ Handicraft Welfare Association, stated that the price volatility has affected orders for the last six months. He noted that many workers have moved to other jobs, treating silver anklet work only as a part-time source of income. Small and medium manufacturers, who often rely on family labor, have been hit hardest.

Adding to the industry's woes, changing social trends have reduced demand. P. Elango, a silver anklet manufacturer from Shevapet, pointed out that many schools now advise girl students not to wear anklets to prevent loss during play. This shift in market preferences has further curbed sales at retail outlets.

The combination of price instability and declining demand threatens the livelihoods of tens of thousands of workers in Salem's traditional silver anklet industry. Industry leaders are calling for measures to stabilize prices and revive interest in silver anklets.