The Karnataka government is planning to open jewellery retail outlets and promote the yellow metal with a 'Brand Karnataka' image. Also, the state is planning to rename Hutti Gold Mines Ltd as Karnataka State (Hutti) Gold Mines Ltd.

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The production of gold in the mines will be increased from 1,700 kg to 5,000 kg, the mines and geology department of the state announced on Thursday.

The Yediyurappa government said it is exploring the possibilities of opening the jewellery retail outlets by tying up with private jewellers. The state will produce jewellery and operate shops with the participation of private entities.

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"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 huge market and reputation among customers," minister for mines and geology Murugesh R Nirani said in a statement.

Government To Make And Sell Gold Coins

It is also planning to produce and sell gold coins with the state emblem embedded in them. The government said the idea of selling gold coins with state emblem is aimed at attracting more customers.

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"This landmark initiative will help 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.

Special Economic Zone For Jewellery

The state is planning to set up Special Economic Zone (SEZ) exclusively for jewellery in the Kalyana Karnataka region for overall development of this backward region. The state government is planning to set up a jewellery park in one of the locations in the Kalyana Karnataka region.

(Edited by : Jomy)

First Published:Mar 18, 2021 8:38 PM IST