India’s Goldstar Group plans $20 million jewelry manufacturing plant in Uzbekistan

According to the Uzbekzargarsanoati Association, a delegation from Goldstar Group recently visited the FONON jewelry factory in Tashkent to advance the proposal. The high-level talks included Nodir Mirakhmedov, head of the Uzbekzargarsanoati Association, Bunyod Mamedjanov, the governor of Uchtepa district, and senior executives from Gold Moon Tashkent and Global Universal Service.

Discussions focused primarily on accelerating the growth of the national jewelry sector, implementing new investment projects, introducing modern processing technologies, and expanding export market reach. The participants also reviewed a draft tripartite memorandum of understanding aimed at formalizing production operations and creating new employment opportunities.

Under the development plan presented by Goldstar Group, the proposed factory will have the capacity to produce up to 10 tons of jewelry per year. The total investment for the venture is initially estimated at $20 million.

The project is expected to create more than 100 jobs, with local professionals making up over 70% of the workforce. Representatives from the association noted that the investment will introduce advanced manufacturing technologies to the domestic market while significantly upgrading Uzbekistan’s jewelry export capabilities.