Coimbatore: Most of the 50 ,000 odd goldsmiths in Coimbatore are eagerly awaiting the day the election commission’s model code of conduct is lifted.With many jewellers hesitating to move jewellery and cash around when the code is in force, the jewellery business has suffered a sharp decline.Jewellers in the city say ornament making has come down by at least 70% in the last couple of weeks.The worst blow because of the business drop is for the goldsmiths, who thrive on the orders given by the jewellers. Goldsmiths are worried that the orders might dry up further in the coming days.Sathish, a goldsmith from Telungupalayam, said that the orders he has on hand will probably last him and his team another couple of weeks. “For us to get new orders after that, we will need jewellers to give us gold. But we don’t know if they would move gold in large quantity,” he told TOI.Learning lesson from the previous elections, city-based jewellers said they were prepared much before the norms came into force and had instructed all goldsmiths to keep relevant documents when they travel with gold and cash. However, they are reluctant to move gold or cash in large quantity for fear of being stopped by flying squads.“Even if we have all the documents, we have to submit them and prove that the consignment is legitimate. It might take days,” said a jeweller. A temporary fall in business is better than cash or gold being confiscated by EC, he said.So far, gold, diamonds or jewellery have not been seized in Coimbatore. “March is always a dull season. The elections and constant checking has made it worse,” said president of the Coimbatore Jewellers Association V Sabarinath. “Nobody wants to risk getting detained by the surveillance squad. Despite having all documents in hand, they will detain the carrier stating that they have to verify the documents. Though it can be done in two hours, the officials will take 10 days before returning the product. Thus, the working capital gets locked for 10 days. Even if they seize 10kg, that’s worth Rs 3crore. Who will pay the interest for that?”The president of the District Jewellery Manufacturers Association, D Muthuvenkatraman, also admitted that the news about EC’s seizures has made jewellers afraid. Despite being the association president, Muthuvenkatraman says he has not done business in two weeks. “Within a short distance, I was stopped thrice by flying squads. Each time, I was praying that my working capital should not get stuck. Even if I have all the documents, including GST certificate, stock summary, delivery challan and staff authorization, they might still hold me up for a long time.”Muthuvenkatraman has written to the election commission and the chief justice of the Madras high court, requesting for a system where the GST department can issue a no-objection certificate for a consignment’s movement pan India. “If it is shown to election officers, the consignment should be allowed to pass through,” he said.

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