Malabar Gems & Jewellery is setting up its manufacturing and refinery facility in Maheswaram, Ranga Reddy district. IT Minister Mr KTR laid the foundation stone for the unit which is said to be the largest manufacturing unit of the Malabar gold.
Malabar is investing Rs 750 crore on 3.7 acre land. It is expected to provide employment to 2,750 people.
The minister expressed happiness at the company for choosing Hyderabad and said the city has all the paraphernalia to become a jewellery manufacturing hub.
The Telangana state is known for fine craftsmen and public patronage for traditional designs of jewellery. The Narayanpet which is close to the city has large number of goldsmiths who command good public patronage even from far off places like Bidar, Raichur and across the country. The Narayanpet gold is second to none, including that of the most popular one at Dubai, the minister said.
He further said the Telangana government accords priority to gems and jewellery apart from scores of other sectors. Since the government rolled out industry friendly policy, it has been witnessing a steady flow of investment from small and big corporate giants. It was delightful to see the development.
It may be noted that Hyderabad city is becoming the most sought after city by the professionals and companies. It has turned as a global city accommodating people from across the globe.
By Gollapudi Srinivasa Rao