Economics of Bangle Market

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The raw materials usually required for the manufacture of the different types of bangles was usually procured locally other than the lac, linseed oil, resin, and the glittering stones. A special type of lac was used for the purpose of making the lac bangles, especially in Laad Bazaar. Mohd. Meeraj, one of the reputed and experienced bangle manufacturers of Laad Bazaar, said this lac was imported from various parts of the country, mainly from the interior regions of Rajasthan, Maharashtra (Mumbai), and Odisha. The resin used for hardening the lac while making the blocks was mainly brought from the districts of Odisha, especially Behrampur...

The decorations on the bangles varied widely. The finished products were usually sent to the nearby shops for display in glass showcases. However, the shopkeepers kept the expensive bangle sets at home. Most often, the expensive sets were custom designed, as they were capital intensive. Most shopkeepers sold the bangles loose, leaving it to the customers to mix and match the bangles. They realized that most of the customers knew enough about the bangles which they were going to buy. While the thick bangles were sold singly, the thin ones could be purchased in sets of six, 10, or 12. The shopkeeper also offered to customize the bangles for buyers according to their preference...

There were several factors that played an important role in the surge in the demand for bangles. While seasonal increases were seen during marriages and festivals, the increase in the influx of tourists and the growing popularity of traditional markets around Charminar also contributed to increased sales. The bangles were popular in international markets such as the US, the UK, Singapore, Malaysia, and the Middle-East too. Many local shop owners, who had participated in the exhibitions held abroad, were buoyed by the response they had received...

The bangle market in general and Laad Bazaar in particular had undergone a sea change over the years in terms of demand and supply, competition, and exposure to international markets. It had also attracted educated youths into this business, and had benefited from networking and exhibition. On the other hand, the labor force’s living and working conditions and other factors putting pressure on the margins had been key concerns for the market...

Exhibit I-A: The Bangle Manufacturing Process
Exhibit I-B: The Bangle Manufacturing Process

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