Indian diamond and jewellery chain store Gitanjali has announced it is planning to expand its outlets both domestically and internationally.

The Mumbai-based company said it would like to add 250 stores in India by the end of 2006.

Internationally it also has ambitious goals, with intentions to increase its presence in the United Kingdom, the United States, China, and Japan.

Gitanjali has set aside ?50 million for its expansion efforts, and another ?15 million for the creation of brand kiosks, brand zones, mall shops, and international outlets.

The companys chief executive officer Mehul Choksi, said to Rapaport News that the company would concentrate on its diamond brands of Nakshtra, Asmi and Damas.

The group claims to be the first to introduce the concept of affordable diamond jewellery on a mass scale in India. While it does have expensive and luxury items, some products can be purchased for as little as ?60.