KOCHI: The gold jewellery sector in the state has found the proposal to transform the Kochi-Thrissur belt into a major jewellery manufacturing corridor a 24-carat announcement. Highlighting how the proposal, when implemented, will lead to reverse migration of jewellery manufacturers, industry insiders said that the state will no longer have to depend on Mumbai and Gujarat to source ornaments. Though the largest consumer of gold in the country, Kerala has been lagging in jewellery manufacturing sector.
S Abdul Nazar, general secretary, Kerala Gold and Silver Merchants Association, told TNIE, “The establishment of a dedicated gold hub and a jewellery manufacturing park will be beneficial to the state. The hub and the park will generate over 2,000 jobs, both directly and indirectly. Setting up a jewellery park had been a longstanding demand of the association.” He said this would help bring back gold manufacturers who have left Kerala for other states.
According to the draft plan the association submitted to the government, 30 acres are required for the park. “We also welcome the decision to form a tax intelligence wing. It is expected that this will help curb the parallel gold trade without tax registration,” Nazar said.
Welcoming the announcement, T S Kalyanaraman, managing director, Kalyan Jewellers, said “The proposal to develop the Kochi-Thrissur corridor as a Global Gold Hub is particularly significant.
Combined with focus on land reforms, special investment zones, and MSME growth scheme, it reflects a strong commitment to strengthening Kerala’s entrepreneurial ecosystem and supporting artisans, craftsmen, and small businesses that form the backbone of our economy,” he said. Pointing out that Thrissur is already recognised as the gold capital of India, he said, “With the right infrastructure, policy support, and global connectivity, the initiative can elevate the region into an internationally renowned centre for gold craftsmanship, innovation, and excellence – a Florence of the East.”
However, it should be noted that a park already exists in Kochi -- the KINFRA Gem and Jewellery Park at Kalamassery. It was designed as a joint venture with World Gold Council, serving as a one-stop destination for gold and gem processing, jewellery manufacturing, and bulk-order trade.
Global Gold aHub
Allocation: Rs 10 crore
Proposed: A dedicated gold exchange hub and a jewellery manufacturing park
Expected: To provide jobs for more than 2,000 persons