Karnataka plans to open its own jewellery retail outlets


Karnataka is contemplating to launch its own gold jewellery showrooms across the country in a phased manner, Mines and Geology Minister Murugesh R. Nirani said on Thursday.

“We are 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,” he told reporters after a meeting with jewellery designers and jewellers’ associations here at Vikasa Soudha.

He said that the retail outlets will be opened in Tier-1 cities and based on the response from the customers, will be opened in Tier-2 cities as well.

The minister said that Karnataka is the only state in the country that produces gold and it would be better to have its own gold jewellery shops with the ‘Brand Karnataka’ image.

Nirani said that gold bars and coins will also be sold in the retail outlets. “Our gold showrooms will be on the lines of state-run Mysore Silks and Mysore Sandalwood Soaps which have a huge market and reputation among customers,” he said.

He said that gold coins and bars will be sold with state emblem ‘Gandabherunda’ (a two-headed bird from Hindu mythology believed to possess immense magical strength and also the royal insignia of the erstwhile Mysore kingdom too) embossed on them.

“The idea of selling gold coins with this emblem is aimed at attracting more customers since the yellow metal is produced by the state, its purity is guaranteed and there is no question of pilferage as is done by some private jewellers,” he added.