Austrian crystal maker Swarovski has snapped up a share in the Indian jewellery firm Tara Jewels.
According to information from inside the company the deal was signed in December by the Swarovski investment firm Crystalon Finanz AG based at Meilen in Switzerland.
The jeweller based in Mumbai employs 1,740 staff and has 30 stores in India and exports 80 percent of its output abroad to locations such as the Swiss chain Christ.
Unlike spectacularly unsuccessful investment by Swarovski in other projects for example the takeover of the American firm Zale in the eighties the Austrian firm is making a slower and lower key investment in India.
Officially they have taken up just 7.3 percent of the IPO which involved an investment of 5.6 million euros.
According to a Tara balance books the firm which is mostly owned by boss Rajeev Sheth had a turnover last year of around the 195 million and a profit of 10 million.