Silver Price Surge Takes Sheen Off Karimnagar Filigree
Silver prices have risen significantly over the past year
Karimnagar: Silver Filigree of Karimnagar (SFK), known for supplying handicrafts to national and international events, is facing a decline in sales amid a sharp rise in silver prices.
The increase in raw material cost has led to higher prices for finished products, affecting demand. Industry representatives attributed the price surge to global factors, including increased investment in precious metals during geopolitical tensions, which has constrained supply.
Silver prices have risen significantly over the past year. A kilogram of silver, priced between Rs 90,000 and Rs 1 lakh a year ago, has now reached Rs 2.50 lakh, after touching Rs 3 lakh a few months ago. The increase has forced SFK to raise product prices.
For instance, the price of a silver peacock has increased from Rs 10,000 to Rs 30,000, impacting customer interest. In response, the organisation has shifted focus to smaller, more affordable items and new designs.
Speaking to Deccan Chronicle, SFK general secretary Gadde Ashok said that they were preparing new designs to attract customers. Instead of big items, small crafts were being designed to provide artifacts to customers at a lesser price.
The organisation is also planning to expand its focus on jewellery manufacturing alongside traditional artefacts. Training programmes are being planned to help workers adapt to new designs.
SFK has supplied products for major events, including Global Summit-2025, Miss World-2025, and the G20 summit. It manufactured 60 images of Gautam Buddha for the Hyderabad summit in December 2025 and 30 sari pins for Miss World contestants. It also produced 200 silver badges for delegates at the G20 summit held in New Delhi in September 2023.
Additionally, 400 gifts were made for the wedding of Anant Ambani, son of industrialist Mukesh Ambani.
The organisation received Geographical Indication (GI) status in 2007 and showcased its products during the visit of Ivanka Trump to Hyderabad. Prime Minister Narendra Modi also mentioned SFK in his Mann Ki Baat programme.
SFK produces around 5,000 artefact designs, including peacock, swan, parrot, elephant, veena, plates, boxes and mementoes.
