From Our Special Correspondent
Daijiworld Media Network
Bengaluru, Mar 18: In yet another pioneering step, the state government is planning to open jewellery retail outlets and promote the yellow metal with ‘Brand Karnataka’ image.
The state is also planning to sell gold coins with state emblem and aiming to partner with private jewellers.
Karnataka which is the only state in India that produces gold is planning to open jewellery shops and promote precious metal with a ‘Brand Karnataka’ image.
The state government is exploring the possibilities of opening jewellery retail outlets by tying up with private jewellers. The state will produce jewellery and operate shops with the participation of private entities.
“Gold bars will also be sold in the retail outlets. The state government is planning to produce gold jewellery on the lines of state-run Mysore silks and Mysore sandalwood soaps which have a huge market and reputation among customers,” mines and geology minister Murugesh R Nirani told reporters after meeting with Jewellers’ Association and jewellery designers here at Vikasa Soudha on Thursday.
Govt to make and sell gold coins
The state government is also planning to produce and sell gold coins with the state emblem Gandaberunda (mythical two-headed bird) embedded in them.
The idea of selling gold coins with state emblem is aimed at attracting more customers since the yellow metal is produced by the state purity of gold is guaranteed and there is no question of pilferage as is done by some private jewellers.
“This landmark initiative will help the government generate more revenue and employment opportunities. As gold is one of the most popular investment choices of the people, the government’s venture is expected to achieve great success,” Nirani said.
The success of Mysore silks promoted by Karnataka Silk Industries Corporation Ltd (KSIC) and Mysore sandalwood soaps promoted by Karnataka Soaps and Detergents Ltd (KSDL) has prompted the minister to produce gold coins, jewellery and run shops with brand Karnataka promotion. Initially, the retail outlets will be opened in tier-1 cities and based on the response from the customers, the outlets will be opened in tier-2 cities.
Special Economic Zone for jewellery
The state government is also planning to set up Special Economic Zone (SEZ) exclusively for jewellery in the Kalyana Karnataka region for the overall development of this backward region.
Setting up SEZ will prompt industrialists to make investments in the region and thereby push economic growth and employment opportunities.
The state government is planning to set up a jewellery park in one of the locations in the Kalyana Karnataka region.
Gold production to be doubled
As part of its grand plan to increase gold production and open jewellery shops, the government is aiming to modernise the Hutti Gold Mines and enhance its capacity.
The state government is also planning to rename Hutti Gold Mines Ltd as Karnataka State (Hutti) Gold Mines Ltd. The production of gold in the mines will be increased from 1,700 kgs to 5,000 kgs.