Welcome to S.K.Goldsmiths Industrial Co-op. Society Ltd.,

The Government of India had implemented The Gold Control Act all of a sudden in the year 1963. Sri. Morarjee Desai was the Finance Minister during that period. Because of utmost fondness towards gold for Indians and to control the inflow of gold secretly into the nation through Act were the main purpose. After realizing the difficulties of the goldsmith workers who lost jobs due to implementation of The Gold Control Act, the Government reserved a sum of Rs.15 Crores and distributed to all states. But this was only financial help to the sufferers by way of loan.

Though the Act was in favour of the nation, the artisans who engage in preparing the golden ornaments and who could not adjust themselves to any other work found it very hard to face the horrible situation. While some lost the jobs, some started searching for new jobs. At this juncture Karnataka State also received its share of Rs. 1 crore from the Central Government for establishing goldsmiths Industrial Cooperative Societies for lending loans to goldsmith workers.

At the same time Deputy Director of Industries in Mangalore had urged and supported to establish goldsmiths Industrial Cooperative Societies. Thus started a Cooperative Society called by name S.K. GOLDSMITHS' INDUSTRIAL CO-OPERATIVE SOCIETY LTD. on 9th January, 1964. The great leader of Vishwakarma community, philanthropist Sri. Palke Baburaya Acharya, the owner of M/s. Canara Jewellers, Mangalore was named as its first President, Sri. M. Krishnagopal as its Honorary Secretary, Sri. B. Damodara Acharya as its Treasury, Sri. B. Sadananda, Sri. M. Gopal Achar and Sri. M.L. Devaraj achar as its Directors took the responsibility on their shoulders to execute the duties of the Society.

Founder President