GJEPC opens new office in Zaveri Bazaar as land near India Jewellery Park is allotted for workers

Situated at a location from where over 500 jewellers operate, GJEPC’s new office will resolve policy-related challenges and aid the MSME sector. State minister Uday Samant reiterated GJEPC’s commitment in promoting India’s first Jewellery Park.

Mumbai: GJEPC on November 1 inaugurated a new office at and for Zaveri Bazaar, the heart of jewellery trade in Mumbai, from where over 500 jewellers operate. The dedicated office will swiftly facilitate the local jewellery community’s concerns regarding exports, customs, exhibition permissions, MSME support, and government policy.

Vipul Shah, Chairman, GJEPC, shared his insights on the strategic choice of location. “The opening of our new office in the bustling Zaveri Bazar is a significant step toward improving accessibility and support for local manufacturers. This establishment will serve as a convenient point of contact, ensuring an efficient connection between manufacturers and GJEPC,” he said.

Kirit Bhansali, Vice Chairman, GJEPC, affirmed the sentiment saying, “With this new office, GJEPC will be readily available to offer assistance in various aspects, including MSME support, liaising with government authorities, resolving policy-related challenges, and more.

Maharashtra govt. allots land for workers at area adjoining India Jewellery Park

Uday Samant, Minister of Industry, Government of Maharashtra, has announced that the state has decided to allocate additional land adjacent to the India Jewellery Park for its workers’ residential requirements. The announcement took place during Samant’s recent visit to Gems and Jewellery Export Promotion Council (GJEPC) and Bharat Diamond Bourse at Bandra-Kurla Complex.

Samant became the first state industry minister to visit the iconic bourse in 13 years, and made a host of announcements during this visit concerning forthcoming state industrial policy. “We will form a committee to come out with industrial policy for the gems and jewellery industry by Govt. of Maharashtra shortly. The government has allocated additional land for worker housing near India Jewellery Park by GJEPC in Navi Mumbai,” he said.  

Spread out over 21 acres in Mahape, Navi Mumbai, this will be India’s first jewellery park and is expected to generate over one lakh new jobs. The Rs 40,000 crore project was conceptualized by GJEPC to give a boost to India’s grassroots gems and jewellery industry. The minister announced that the Cabinet has approved various subsidy incentives for the park such as 5 FSI; One Rupee electricity subsidy for all units and 2 rupee for LGD units in the Park; waiver of electricity duty for all units in the park; 50% SGST waiver for 5 years to all units in the park; 5% interest subvention on term loan for all MSME units; and stamp duty waiver to IJPM for lease.

He also stated that the Maharashtra government is considering GJEPC’s plea concerning land-levelling in the park. He said, “We want to spread the benefits of this job-generating activity to other parts of Maharashtra such as Ratnagiri, Sambhajinagar, Kolhapur and Nashik among others. We are preparing a Detailed Project Report (DPR) for the same.”

Vipul Shah said, “Out of India’s total gem and jewellery exports of USD 37.76 billion, Maharashtra contributed 74% in 2022-23. The jewellery park in Mumbai is poised to be a game-changer, with creation of over 1 lakh employment opportunities. It will serve as a comprehensive industrial park, encompassing manufacturing units, commercial spaces, worker residences, and essential support services, all within one integrated facility.”

Kirit Bhansali said, “India is currently the fifth largest exporter of gold jewellery in the world. The establishment of India Jewellery Park would help us to become the number one exporter of gold jewellery in the world.”

Retail Jeweller India News