Rs 20,000-crore jewellery park in Navi Mumbai gets official go-ahead

Proposed India Gems and Jewellery Park will be developed by the Gems and Jewellery Promotion Council

The cabinet sub-committee on industries in Maharashtra, headed by Chief Minister Eknath Shinde, has cleared proposals inviting Rs 40,000 crore ($5.6 billion) in investments to the State. This includes the development of the India Gems and Jewellery Park in Navi Mumbai, which is expected to bring an investment of Rs 20,000 crore ($2.8 billion) and create direct and indirect employment opportunities for one lakh people.

New Jewellery Park in Navi Mumbai

The proposals included the India Gems and Jewellery Park on a 21-acre plot at Navi Mumbai’s Mahape. To be developed by the Gems and Jewellery Promotion Council, the park will have 1,354 industrial and commercial establishments, an official from the Industries Department said.

Multiple units to house lab grown diamonds

“The project is expected to bring an investment of Rs 20,000 crore and is likely to create direct and indirect employment opportunities for one lakh people. One of the main features of the park will be that some of the units can house laboratory-grown diamonds,” the official said.

India Gems and Jewellery Park is also expected to give an impetus to the export of gems and jewellery products, the official added.

Courtesy: Hindustan Times