Kirit Bhansali, Chairman, GJEPC, has welcomed the policy. GJEPC has been working with the Government to provide inputs and ensure that the policy addresses the industry’s evolving needs
Mumbai: In a landmark move, the Government of Maharashtra has announced the Maharashtra State Gem & Jewellery Policy 2025, becoming the first State in India to introduce a dedicated policy for the gem and jewellery sector. The policy aims to attract investments worth Rs 1 lakh crore and create over 5 lakh new jobs, marking a major step towards transforming Maharashtra into a global hub for jewellery manufacturing, exports and design.
The Gem & Jewellery Export Promotion Council (GJEPC), has been actively working with the Department of Industries, Government of Maharashtra for the past year-and-a-half on developing this policy framework. Through several consultations and stakeholder meetings, GJEPC provided valuable inputs to ensure that the policy addresses the industry’s evolving needs — from manufacturing and infrastructure to skilling and export facilitation.
The new policy will give a strong push to the entire ecosystem — from manufacturing and exports to skill development and employment generation. It is designed to promote ease of doing business, modernize manufacturing units, encourage innovation, and strengthen training and skilling infrastructure across the state.
Expressing his gratitude to the State leadership, Kirit Bhansali, Chairman, GJEPC, said,“We are deeply thankful to Chief Minister Devendra Fadnavis for his visionary leadership in announcing India’s first State Gem & Jewellery Policy. This landmark initiative will not only strengthen Maharashtra’s position as a leading jewellery manufacturing centre but also bring about a qualitative leap in areas such as skilling, technology upgradation and value addition. With this policy, we foresee new opportunities for investment, innovation and job creation — paving the way for Maharashtra to set new global benchmarks in the gems and jewellery sector.”
Bhansali also thanked Uday Samant, Minister for Industries, Government of Maharashtra, for his guidance and support in driving this landmark policy. “My heartfelt thanks also go to the entire team at the Department of Industries for their dedication, hard work, and close coordination with GJEPC throughout this journey. Their consistent efforts and collaborative spirit have been instrumental in turning this vision into reality,” he added.
Rajesh Rokde, Chairman, All India Gem And Jewellery Domestic Council (GJC) has also welcomed the policy announcement. “We deeply appreciate the visionary approach of the Government of Maharashtra in formulating India’s first dedicated State gem &jewellery policy. This policy reflects the Government’s confidence in our industry’s contribution to employment, innovation and inclusive economic growth. GJC stands united with the Government in its mission to empower the domestic trade, strengthen infrastructure and make India a global jewellery powerhouse,”Rokde said.
“The period of the Maharashtra Gems and Jewellery Policy will be from 2025 to 2030. A provision of Rs 1,651 crore will be made for incentives for the implementation of the policy. A total provision of Rs 13,835 crore, including about Rs 12,184 crore, was approved for the next 20 years, i.e. from 2031 to 2050. A financial provision of Rs 100 crore has been made available for the implementation of the policy for the years 2025-26,” the Government said in a press statement.
The industrial units covered under this policy will be provided with financial and other facilities and incentives. This will include interest subsidy, incentives for increased investment, stamp duty concessions, electricity tariff and tariff concessions, cluster development, employee provident fund contribution, skill development assistance, necessary facilities and incentives for exports, incentives for branding-designing-packaging-marketing, one-window scheme, plug and play facilities, uninterrupted power and water supply, and additional carpet index.
The Maharashtra State Gem & Jewellery Policy 2025 is expected to enhance the competitiveness of the industry, attract domestic and international investors, and further cement Maharashtra’s role as the heart of India’s jewellery economy.
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