(Image source from: Sharemarketexpress.com)

Aditya Birla Group will now compete with Titan Company and Kalyan Jewellers by entering into the brand gold jewellery business. The company is going to start a jewellery retail business with an investment of Rs 5,000Cr. They are going to format retail stores across India with in-house jewellery brands. Aditya Group was on the groundwork to compete with TATA gold retail business for more than a year.

Kumar Mangalam Birla, Chairman of Aditya Birla Group, confirmed this through a press meet on Tuesday. After the paints and B2B e-commerce for building materials, this is their biggest foray into new investment. They also sell men’s and women’s clothing, accessories and footwear through Aditya Birla Fashion and Retail Ltd. Aditya Birla Group operates a wide range of businesses, including pulp, fibre, financial services, renewable energy, trading, chemicals, cement, carbon black and many more small sectors.

The newly recruited team will operate the branded jewellery. The Indian jewellery market is projected to be $90 billion by 2025 and 7% of the country's GDP. So investing in the gold retail business is a fruitful venture. With the increased earning capacity of every individual, the spending capacity has been raised and which results in any profitable retail businesses.