Malabar Gold to invest Rs 10k cr in India over 3 yrs
To open 500 new showrooms by 2025; create jobs for 11,000 people
Hyderabad: Malabar Gold & Diamonds, one of the largest jewellery retail chains in the world, has committed an investment of Rs 9,860 crore in India spread over the next three years. This was announced jointly by Malabar Group Chairman MP Ahammed and Malabar Gold & Diamonds India Operations Managing Director O Asher at an Investors' Round Table held in Kochi recently. Union Minister of Commerce & Industry Piyush Goyal and State Industries Minister P Rajeev were present during the occasion. Dileep Narayan, Head, Treasury and Bullion, Malabar Gold & Diamonds also participated in the conference.
Malabar Gold & Diamonds has been doubling down on its investments in recent times to ramp up its `Make in India, Market to the World' initiative. The jewellery retailer is planning to open 500 new showrooms by 2025. This will create employment opportunities for approximately 11,000 people.
MP Ahammed, Chairman, Malabar Group, said, "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."
Currently, Malabar Gold & Diamonds has more than 280 showrooms spread over ten countries and 14 manufacturing units in five nations. It has 4,092 investors and employs 14,169 management staff. The company is targeting a total business of Rs 45,000 crore during this fiscal.