Kerala Budget could add glitter to the jewellery manufacturing corridor

The gold jewellery sector in the state found the proposal to transform the Kochi-Thrissur belt into a major jewellery manufacturing corridor a 24-carat announcement. When implemented, it will lead to a reverse migration of jewellery manufacturers. Kerala will no longer have to depend on Mumbai and Gujarat to source ornaments. Though the largest consumer of gold in the country, Kerala lags in the jewellery manufacturing sector.

S Abdul Nazar, general secretary of the Kerala Gold and Silver Merchants Association, said, “The establishment of a dedicated gold hub and a jewellery manufacturing park will benefit the state. The hub and the park will generate over 2,000 direct and indirect jobs. Setting up a jewellery park has been a longstanding demand of the association.”

Welcoming the announcement, T S Kalyanaraman, managing director of Kalyan Jewellers, said, “The proposal to develop the Kochi-Thrissur corridor as a Global Gold Hub is particularly significant. 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.”

Also, 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 the World Gold Council, serving as a one-stop destination for gold and gem processing, jewellery manufacturing, and bulk-order trade.