The Phaserl


Despite government curbs, Indian jewellers remain expansion-focused

by Shivom Seth,

Indian jewellery retailers are in an expansive mode. Though the government is keen to curb gold sales in India, gold retailers appear to be equally keen to go on the offensive, with several gold jewellery majors unveiling massive expansion plans across the country. Some are even expanding abroad, setting up stores in the UAE.

Like Malabar Gold and Diamonds, which touts itself as the world’s third largest gold and diamond jewellery retailer. With an expansion plan that would see the number of outlets reach 120 by the end of this fiscal in the Indian market, the gold jeweller is on course to invest $244 million (Rs 15 billion) on expansion.

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