With the introduction of Indriya earlier this summer, Aditya Birla Group—one of the biggest corporations in India with a $100 billion market capitalization—entered the nation’s developing jewellery market. The Mumbai-based group plans to contribute Rs 5,000 crores to the project.
“In the past 5 years, the share of branded jewellers has increased from 20% to 40%, whereas it took several decades to reach the initial 20%. A group like ours can add value when the industry is healthy, growth-oriented and runs with great business practices, which is why now is the right time for us to enter the Indian jewellery market”, he says