PoliticsSIBY JEYYAeditor@indiaherald.comhttps://www.indiaherald.com/ImageStore/images/politics/politics_latestnews/two-firms-keen-to-set-up-gold-refineries-in-telangana5582262d-7380-478e-90c0-f97c9c5673a6-415x250-IndiaHerald.jpghttps://www.indiaherald.com/ImageStore/images/politics/politics_latestnews/two-firms-keen-to-set-up-gold-refineries-in-telangana5582262d-7380-478e-90c0-f97c9c5673a6-415x250-IndiaHerald.jpg

Two significant gold refineries are planned to open in Telangana, and top jewellery companies are in talks with the state government to set up manufacturing facilities. The refineries would be situated near the Maheshwaram Industrial Park's gold cluster in the Rangareddy district.

Telangana{#}Mukesh;gold;Karimnagar;December;Government;Director;BUSINESS;HyderabadTwo firms keen to set up gold refineries in TelanganaTelangana{#}Mukesh;gold;Karimnagar;December;Government;Director;BUSINESS;HyderabadMon, 12 Jun 2023 09:04:27 GMTTwo significant gold refineries are planned to open in Telangana, and top jewelry companies are in talks with the state government to set up manufacturing facilities. The refineries would be situated near the Maheshwaram Industrial Park's gold cluster in the Rangareddy district.

Three gold refineries, including Caps gold, are currently located in the industrial park, and Malabar gold and Diamonds is close to finishing up its manufacturing facility. Malabar gold and Diamonds will exhibit its biggest gold refinery in december if all goes as planned. The manufacturing facility and refinery, in which the business is investing over Rs 700 crore, should provide employment prospects for about 2,500 jewelers in the State.

"The gems and jewelry industry, along with 13 other sectors that have shown remarkable growth, has enhanced our government's reputation for ease of doing business," said Jayesh Ranjan, Principal Secretary of IT, Industries, and Commerce. In order to combat the lack of skilled people, we have concentrated on offering alluring incentives and increasing our commitment to training. Additionally, we urge the jewellery associations in Narayanpet and karimnagar to set themselves up to hire bigger companies and offer them comparable chances.

Major jewellery producers have already invested more over Rs 1000 crore in refining operations at the industrial park, according to Venkata Sekhar, Industrial Promotion Officer and director of Gems and Jewellery. For more gold refineries or processing facilities, there are lands available. The jeweller business, which has over 5,000 outlets and 400 producers in hyderabad alone, considerably boosts employment in the area, he continued.

Meanwhile, the hyderabad Jewellery Pearl and Gem Fair (HJF), in its fifteenth edition, was unveiled by Informa Markets. More than 250 renowned exhibitors will participate in the event, which is expected to draw more than 8,000 trade buyers and showcase over 600 premium goods.

According to mukesh Agarwal, the HJF convener, hyderabad has 300 to 400 jewellery manufacturing facilities and a sizable workforce. He continued, "The city is drawing investments from both domestic and foreign players, and Hyderabad's jewellery manufacturing sector has seen significant advancements with the support of the State government."









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Source: India Herald - SIBY JEYYA]]>