August 5, 2008
by Newsdesk/IANS

The Thailand-based $150-million jewellery manufacturing group Pranda Jewellery will set up a manufacturing unit in India, a top company official said here Monday. “We will invest in India. In Mumbai, there is a gold jewellery industry cluster. However, at present we intend to import the jewellery from Thailand,” group chairman Prida Tiasuwan told reporters.

In India, Pranda has joined hands with Gunjan Jewels of Mumbai to float a 51:49 joint venture - Pranda Jewellery Pvt Ltd - to market imported jewellery.

The Prima range will be marketed through a network of jewellery shops, but the joint venture will open its own showrooms later.

“Retailers will sell our range after adding their margin. The margin will be controlled,” Tiasuwan said.

He said the free trade agreement between India and Thailand has facilitated the group’s entry into this country.

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