Maharashtra CM approves Rs. 20,000-cr jewellery park in Navi Mumbai 

Government of Maharashtra has earmarked a 21.3-acre land parcel in the Mahape Industrial Area for developing India’s first-of-its-kind gems and jewellery park

Mumbai: Maharashtra chief minister Eknath Shinde has approved the development of the India Gems and Jewellery Park (IJPM) in Navi Mumbai, a project expected to bring an investment of Rs. 20,000 crore ($2.8 billion) and create direct and indirect employment opportunities for 100,000 people.

This decision was made during a meeting of the cabinet sub-committee on industries, which cleared proposals totaling Rs. 40,000 crore ($5.6 billion) in investments for the state. The objective of the park is to continue driving India’s export-led growth and improve the quantity and quality of gems and jewellery produced in the country.

The IJPM works closely with stakeholders such as the Maharashtra Industrial Development Corporation (MIDC), Government of Maharashtra, Ministry of Commerce and Industry, Central Government, Directorate General of Foreign Trade (DGFT), Board Members, Trade, and Industry associations to implement and operate the project.

The Government of Maharashtra has earmarked a 21.3-acre land parcel in the Mahape Industrial Area for developing India’s first-of-its-kind gems and jewellery park. This state-of-the-art ecosystem is designed to address prevalent issues in the existing environment of the labour-intensive jewellery industry.

The park will benchmark itself against counterparts in China, Turkey, Italy, and Thailand, housing more than 2,000 gems and jewellery units. It aims to support jewellery manufacturers and traders interested in relocating, expanding, or investing in Maharashtra, promoting local and handmade jewellery, providing training, and creating a conducive business environment to enhance manufacturing and amplify exports.

Retail Jeweller India News