India’s Largest Gold Market at a Risk of Shifting Base
Maharashtra CM Devendra Fadnavis ordered the factories to complete the shifting process over the next three months.
Gold traders in Mumbai's Kalbadevi and Zaveri Bazaar are fiercely opposing the Maharashtra government's decision to move the gold factories out of Mumbai. The decision announced by Maharashtra Chief Minister Devendra Fadnavis comes days after a massive fire ravaged Mumbai’s posh Kamala Mills area.
There are about 40,000 small gold-bearing units in this market, operating in narrow streets. The factories have complaints of infringement of fire rules against them.
According to traders, 70 percent of the jewellery sold in the country is made in this area of Mumbai and nearly 2 lakh artisans work in Zaveri Bazaar. In fact, it is necessary to undergo 10 types of processes to carve gold. All these processes are carried out in the factories.
Harikishan Gordia, living in Bhuleeshwar in Mumbai, complained to Chief Minister Fadnavis that the fire rules were not being met in the Zaveri Bazaar and Kalbadevi campus. He also complained that the gas emitted from large scale factories is also proving to be a health hazard for those residing in the vicinity.
After this, Chief Minister Fadnavis ordered the BMC to give notice to the functional factories in Zaveri Bazaar. He asked them to complete the shifting process over the next 3 months.
In 2001, a big accident took place in the same market. A fire broke out in one of the factories, claiming 25 lives. So the Government is also serious about it. The government fears that a similar accident may take place .
However, in the Zaveri market, Gold Trader Association chief Kumar Jain told The Quint that it is difficult for the government to shift business from here.
The government will have to provide all facilities and infrastructure. After that, they can consider shifting.
Video Editor: Mohd Ibrahim
(This article was originally published in Hindi Quint and has been translated.)
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