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To build a steady market for Hutti Gold Mines, the Karnataka government plans to open jewellery retail outlets. The company’s products are to be marketed and sold on the lines of Mysore Silks and Mysore Sandalwood Soaps.
The government is aiming to modernise the Hutti Gold Mines and enhance its capacity. “As part of its grand plan to increase gold production and open jewellery shops, the government is aiming to modernise the company,” Murugesh R Nirani, Minister for mines & geology, told reporters.
The government is also planning to rename Hutti Gold Mines Ltd as Karnataka State (Hutti) Gold Mines Ltd. The production will be increased from 1,700 kg to 5,000 kg.
Retail chains
“By opening jewellery retail stores we plan to promote the yellow metal with ‘Brand Karnataka’ image. The state is also planning to sell gold coins with a state emblem and aiming to partner with private jewellers,” the minister said.
“The government is also exploring the possibilities of opening the jewellery retail outlets by partnering with private jewellers. The state will produce jewellery and operate shops with the participation of private entities,” he added.
The Minister interacted with jewellers’ association and jewellery designers on Thursday.
The government is also planning to produce and sell gold coins with the State emblem Gandaberunda (mythical two-headed bird) embedded in them.
“This landmark initiative will help the government generate more revenue and employment opportunities. Since gold is one of the most popular investment choices of the people, the government’s venture is expected to achieve great success,” Nirani said.
Jewellery SEZ
The State government is also planning to set up a Special Economic Zone (SEZ) exclusively for jewellery in the Kalyana Karnataka (Hyderabad-Karnataka) region for overall development of this backward region.
“Setting up of 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 as well,” said Nirani.
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