Meerut, one of the most historically rich cities in Uttar Pradesh is famous for many things. Sports, old monuments, winter sweets, the list is endless. But if there’s one thing that stands out, it is the gold market.
Meerut’s gold market is famous due to its long standing tradition of gold craftsmanship, its role as a major trading hub and the high quality of its jewellery. The city is known for both traditional and designer jewellery and a major hub for jewellery manufacturing in the state.
Here are factors that contribute to Meerut’s hold on the gold jewellery market:
1. Historical significance: From individual goldsmiths making jewellery at customers’ homes to a thriving business with readymade jewellery, Meerut’s gold market dates back to around 1908 and has gone through major evolutions since then.
2. Craftsmanship: The artisans in Meerut are skilled in creating a variety of gold ornaments – both traditional and designer. The city is famous for its intricate gold designs.
3. Major jewellery trading hub: Meerut is considered as a major hub for gold manufacturing in Uttar Pradesh. With a large market size and significant turnover, the city has a strong tradition in jewellery making.
4. Location: With Meerut’s excellent location and the presence of strong middle-income population, there is demand for gold jewellery in the city throughout the year, adding to its prominence.
Some big players dominating Meerut’s retail gold jewellery market are Manohar Lal Sarraf and Sons, Malabar Gold and Diamonds, Swarn Mahal Jewellers, various shops in Sarafa Bazaar, Jaina Jewellers and more.