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Aditya Birla Group plans to enter into two new businesses this year

Tuesday, 30 Jan 2024
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Aditya Birla Group is planning to venture into decorative paints and gold jewellery businesses this year. The Group's paints business will be housed under Grasim Industries, while the jewellery business has incorporated a new entity, Novel Jewels.

To create a national jewellery brand with a strong regional flavour, Novel Jewels intends to invest 5,000 crore to build a nationwide network of large-format stores featuring in-house jewellery brands. With the launch of two new and large businesses in 2024, the company is creating a growth platform with a unique mix of strength and scope.

The Group had many milestones last year, with overall market capitalisation increasing 40 percent compared to the previous year to about USD 90 billion. Manufacturing businesses consolidated their leadership positions, while the consumer businesses are on the edge of transformational growth.

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