Maharashtra To Have ₹ 60,000 Crore Gem And Jewellery Park: Minister

Maharashtra will have one of the world’s largest gem and jewellery parks, Deputy Chief Minister Devendra Fadnavis announced on Wednesday.

Maharashtra will have one of the world’s largest gem and jewellery parks, Deputy Chief Minister Devendra Fadnavis announced on Wednesday. 

Mr. Fadnavis tweeted that the proposed park in Navi Mumbai, a satellite city of Mumbai, will attract an investment of approximately ₹ 60,000 crores and generate one lakh skilled and unskilled jobs.

The park proposed by the India Bullion and Jewellers Association (IBJA) will encompass manufacturing and retailing precious gems and jewellery. It is expected to cover over 80 acres when completed, the Minister tweeted, adding that 25 acres will be developed in the first phase.

The gems and jewellery industry contributes around seven per cent to India’s Gross Domestic Product and employs over 50 lakh people. 

According to the government, this industry also played a key role in India achieving the $400 billion merchandise export milestone in the previous financial year by contributing 10 per cent of the value.

Courtesy: NDTV News