ibnlive » India

Nov 10, 2008 at 02:52pm IST

Meerut : Sports and Gold industry in trouble

Meerut: Meerut is often called the Sports city of India that is because small scale and household sports industries in Meerut employ thousands of skilled labourers, who roll out low cost sports items.

Forty per cent of which is currently being exported and yet India's contribution to the global sports market remains a minor fraction. But despite the present turmoil exporters here believe that a good season is just a good sport event away.

These bats made by the locals may not be the best to play with but they are the bats used by the common man.

But from selling over 500 finished bats every month during the last 20- 20 world cup Mukesh has seen his sales dip to new lows in recent months.

Higher prices for raw wood , a prolonged monsoon and dwindling sales caught him off guard , But he is hopeful YUVI magic will work again. (YUVI is the label of his Bats)

“I am waiting for India to win Big in the 20-20 world cup; my sales are directly linked to it,” says Mukesh, a cricket bat maker.

The Sports goods industry in Meerut is a good example to see what impact does the global economic slowdown have on our local markets.

But while the fortunes of the sports industry swing with the form of our sportsmen, there is another market in Meerut where the future looks far more uncertain

Meerut's gold market, one of Asia's largest, employs over 25,000 skilled crafts men and around 50 to 60 kilograms of gold is processed everyday.

But their fate has been fluctuating along with the global gold index which has been moving up and down erratically depending on the stock markets.

“If Gold prices go up in London and America, it really matter to us, after all we lose our employment because somewhere in the world something happened,” says Sumit, a gold craftsman.

The uncertainty has meant that these workers sit idle for days, or work non-stop when the demand suddenly shoots up. One out of every five migrant artisans here has already left for home, the traditional gold traders here are blaming the greed of speculators for the mess. With the global fiscal alchemy not working, Perhaps they need some YUVI Magic here too!