India Jewellery Park Launched by Devendra Fadnavis, Suresh Prabhu, Subhash Desai in Mumbai

It is a historic day as Indian gems and jewellery sector gets their first jewellery park in Mumbai. The foundation stone of the park was laid by Devendra Fadnavis (Hon. Chief Minister of Maharashtra), Suresh Prabhu (Hon. Union Minister of Commerce & Industry and Civil Aviation, Govt. of India), Subhash Desai (Hon. Minister of Industries and Mining, Govt. of Maharashtra).

The Maharashtra government has allotted 21 acres to the park and has also assured it will provide all possible assistance for its development and smooth functioning. The highlight of this park is that both exporters and domestic jewellery suppliers would be able to conduct their businesses under one roof.

The Indian Jewellery park will house about 5,000 units and has a planned construction area of over 3.4 million sq.ft. The project promises world-class working conditions for workers & artisans and will provide employment to one lakh people. It is expected to generate an annual turnover to the tune of Rs.41,467.50 crores under the current market conditions, a major part of which will be for exports.

Suresh Prabhu, Hon’ble Union Minister of Commerce and Industry & Civil Aviation, Govt. of India, said, “Indian jewellery industry accounting for 7% GDP and 14% of merchandise exports out of the country, plays an important role in the economy of the country. It has more than 5 million skilled people working in the sector as of now. To meet the ever-increasing demand of our robust domestic market and international market, it is crucial that we facilitate this industry, which comprises majorly MSME units, with proper environment and infrastructure, technology so that they can innovate and cater to the different markets in the world. India Jewellery Park, Mumbai is an integrated industrial park with all facilities under one roof. The Park will have manufacturing units, commercial areas, residences for industrial workers, and commercial support services. By providing our karigars and jewellery traders with state-of-the-art facilities, I am sure we will surely achieve the gem and jewellery exports target of USD 75 billion from the current USD 40 billion annually.”

Devendra Fadnavis, Chief Minister of Maharashtra said, “Mumbai is the largest exporter of gem & Jewellery accounting for USD 28,320.94 million, (69 % of the total Indian exports of gems and jewellery). Maharashtra has the largest diamond bourse in the world Bharat Diamond Bourse in Mumbai and now I am happy that we will have the first-of-its-kind India Jewellery Park, Mumbai. The Jewellery Park will transform the gem & jewellery industry in Maharashtra and India and generate additional 1 lakh jobs in the sector. The Maharashtra Govt. has always supported this labour intensive gem & jewellery sector and will continue to support for the successful establishment of India Jewellery Park, Mumbai.”

“I will further like extend my support to GJEPC if they want to create a Gems and Jewellery University in Mumbai. I believe that among the dreams which we had seen, one has been fulfilled and other you need to fulfill, so that I can come again for the Bhoomi Poojan. This new India under the leadership of Narendra Modi is focused on two things- scale and speed. Maharashtra is going to be the first 1 trillion dollar economy and this India Jewellery Park will be an import project in the sub-national economy,” he added.

Subhash Desai, Hon. Minister of Industries and Mining, Govt. of Maharashtra, elaborated, “I am happy to be part of a ground-breaking ceremony and it seems the dream is getting realised. I thank our honourable CM to take up this project on fast track. Mumbai and Navi Mumbai zone is getting richer with Diamond Bourse and now Jewellery Park. No country can compete with India now with these new projects. I am excited that more than 1 lakh people will find jobs here. In whatever way, the project needs support, we are here at every stage.”

Pramod Kumar Agrawal, Chairman, GJEPC, elaborated, “The gem & jewellery industry is thankful to the Govt. of Maharashtra under the leadership of Hon’ble Chief Minister Shri Devendra Fadnavis and the Hon’ble Union Minister Commerce & Industry and Civil Aviation Shri Suresh Prabhu for all the support extended to set up India Jewellery Park, Mumbai. India Jewellery Park, Mumbai will provide effective support to jewellery manufacturers/traders who are interested to establish, expand or invest in the state of Maharashtra and initiate new business or strengthen their existing business. It is benchmarked with the best-in-class Jewellery Parks created in countries such as China, Turkey, Italy & Thailand. India Jewellery Park, Mumbai will contribute to the economic development of both Maharashtra and India by drawing in investment from across India and abroad.”

Colin Shah, Vice Chairman, GJEPC cited, “Thanks to CM Fadnavis and his vision that this industry is number one not only in India but globally. Jewellery Park will be a game changer for the karigars and artisans with the availability of top quality technology at common facilities price.”

Commenting on how this project will benefit the sector, Minister of Commerce said, “It is an important step for the gems and jewellery sector. With the set up of the jewellery park, there will be a lot of focus on the skill development among artisans and the MSME sector. It will create a platform for the Indian and the overseas gem and jewellery sector and will move the industry higher up in the global value chain. Gem and jewellery sector currently contributes to around 14 percent to our overall export basket and about 5 million people are working in this sector.”