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.
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 jewellers in the State.
Jayesh Ranjan, Principal Secretary of IT, Industries and Commerce, said, “The gems and jewellery industry, along with 13 other sectors that have shown remarkable growth, has enhanced our government’s reputation for ease of doing business. We have focused on providing attractive incentives and addressing the shortage of skilled workers by taking additional responsibility for training. Furthermore, we encourage jewellery associations in Narayanpet and Karimnagar to equip themselves to provide job work for larger players and extend similar opportunities to them.”
