India Jewellery Park To Create 1 Lakh Jobs & Will Turn Maharashtra into a Trillion Dollar Economy by 2025

The formal announcement of the India Jewellery Park in Mumbai brings cheer to the gems and jewellery sector. The foundation stone of the Park was laid by Devendra Fadnavis, Chief Minister of Maharashtra, Suresh Prabhu, Union Minister of Commerce & Industry and Civil Aviation, Govt. of India, Subhash Desai, Minister of Industries and Mining, Govt. of Maharashtra in Navi Mumbai on Tuesday.

The Jewellery Park will provide employment to 1 lakh artisans and will play a key role in turning Maharashtra into a trillion dollar economy. Elaborating on it, CM Fadnavis said, “We have decided that by 2025, we want to make Maharashtra a trillion dollar economy and in our journey towards this trillion dollar economy, this Jewellery Park will be one of the biggest contributors. The value which you are creating, the export revenue that will be generating, will contribute to the GDP of the state and will accelerate in a movement to become 1st trillion dollar sub-national economy, and the government is always there to extend help and support whenever you need.” He further ensured that the Maharashtra government will give support so that it becomes not only the No 1 Park in India but globally, and will soon achieve not only the target of a 75 billion dollar industry, but will touch 100 billion dollar soon.”

In order to look into the welfare of the karigars and their security, certain steps have been taken, “The jewellery park will have a single-window system for all permissions so that the Karigars won’t have to go to any other MIDC office, but everything will be done here. Housing facilities under Pradhan Mantri Awas Yojna will be given so that the karigars are not required to travel a lot and get accommodation near to the park.”

Honourable CM Fadnavis concluded his speech by saying, “Jewellery Park was not only GJEPC’s dream, but it is a dream come true for me as well. I will further like to 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 needs to be achieved 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.”

Suresh Prabhu highlighted on the deep relationship the country has with gold “15 lakh people are currently working in this sector and with this jewellery park there will be a greater contribution to the economy from gems and jewellery. We are working on a strategy to bring in more diamonds into the country. More diamonds means the creation of more jobs, which in turn is good for the industry and economy. We are in talks with the delegates of Russia as to how we can import more diamond roughs from the country,” said Prabhu.

Maharashtra government has allotted 21 acres of land in Navi Mumbai to the park and has assured all possible assistance for the development and the smooth functioning of the project. The estimated cost for the project is Rs 14,467 crore and is expected to generate an annual turnover to the tune of Rs.41,467.50 crores under the current market conditions.