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Malabar Gold and Diamonds commits Rs 9,860 crore investment in India



Malabar Gold and Diamonds commits Rs 9,860 crore investment in India

New Delhi: Jewellery retailer Malabar Gold & Diamonds will invest Rs 9,860 crore in India over the next three years under its `Make in India, Market to the World’ initiative, announced MP Ahammed, Malabar Group chairman and O. Asher, Malabar Gold & Diamonds India Operations MD.

This announcement was made at an investors’ roundtable, during the National Industrial Corridor Development programme held in Kochi.

The jewellery retailer plans to open 500 new showrooms by 2025 creating employment for around 11,000 people, it said. Currently, Malabar Gold & Diamonds has over 280 showrooms across ten countries and 14 manufacturing units in five nations. The company presently employs a total of 14,169 management staff.

“Our goal is to bring more and more jewellery buyers in India focussing on our initiative – Make in India, Market to the World and to generate employment for people across regions,” said Ahammed, Chairman, Malabar Group.

According to the press release, the company aims to record a total business of Rs 45,000 crore during the current financial year.

Also present at the conference, Piyush Goyal, Union Minister of Commerce and Industry praised the company for its efforts in supporting the `Make in India’ programme and for creating employment opportunities.

Courtesy: Economic Times

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