Silver anklet manufacturers in Salem district have seen a significant uptick in orders this Deepavali season compared to last year. The industry, which supports around one lakh jobs directly and indirectly, operates through over 1,000 units spread across various localities. Last year, volatile silver bullion prices, ranging between ₹2.30 lakh and ₹4 lakh per kg, led to job losses and reduced orders. The West Asia crisis further exacerbated the situation, causing silver prices to surge and resulting in only 25% of the usual orders during the 2025 Deepavali festival.
This year, however, the outlook has improved. Orders have nearly doubled, with a 45% increase compared to last year’s Deepavali, according to C. Sree Anandharajan, president of the Salem Silver Anklet Manufacturers Handicraft Welfare Association. The drop in silver prices to ₹2.05 lakh per kg in November 2026, driven by global investors shifting focus to crude oil, has boosted demand. Orders have poured in from jewelry shops and customers across Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra, and Karnataka.
Workers in the silver anklet industry have finally secured jobs after a prolonged period of uncertainty. Manufacturers are also reporting positive business growth. Anandharajan noted that the silver price stabilization suggests the West Asia crisis may be nearing its end, which could lead to renewed investment in silver and gold. This development bodes well for the industry’s future prospects.