Major infrastructure initiatives include the India Jewellery Park Mumbai in Navi Mumbai’s Mahape industrial area, setting up design studios, plug-and-play manufacturing facilities and digital trade hubs, with a strong emphasis on skill development
Mumbai: The Maharashtra Government has formally notified finer points of its Gems and Jewellery Policy 2025 through a government resolution (GR) issued by the Industries Department on November 12. The policy, that aims to attract investments worth Rs 1 lakh crore and create five lakh new jobs over the next five years, had been announced by the Government earlier in October, making Maharashtra the first State in India to introduce a dedicated policy for the gems and jewellery sector.
According to the GR, the policy provides financial incentives worth Rs 1,651 crore for the period 2025 to 2030, with an additional Rs 12,184 crore set aside for the next 20 years (2031 to 2050), taking the total outlay to Rs 13,835 crore. The policy will remain in effect for five years or until a new plan is introduced. The Government has allocated Rs 100 crore in budgetary provisions for the current financial year 2025-26 under a dedicated mandatory head for policy implementation.
Major infrastructure initiatives include the India Jewellery Park Mumbai, spread over 21 acres in Navi Mumbai’s Mahape industrial area, expected to generate over one lakh jobs and attract investments of Rs 50,000 crore. The plan also includes setting up design studios, plug-and-play manufacturing facilities, and digital trade hubs, with a strong emphasis on skill development in collaboration with the Indian Institute of Gems and Jewellery and other training bodies. Additional benefits under the policy include stamp duty exemptions, a 10-year electricity duty waiver for units in jewellery parks and export-oriented units, and power tariff subsidies of Rs 1-Rs 2 per unit for three years.
To enhance transparency and traceability in the sector, the Government will also establish a blockchain-based industry ledger in collaboration with the Bharat Web 3 Association and the Gems and Jewellery Export Promotion Council. The policy seeks to double the State’s exports and bring informal enterprises into the formal economy through regulatory support, financial aid and access to organized markets.
The policy is applicable to cut and polished diamonds, polished lab-grown diamonds, gold jewellery (plain and studded), silver jewellery, polished coloured gemstones, synthetic gemstones and platinum jewellery units.
Mihan Named Key Hub for Jewellery Exports
Nagpur’s Mihan SEZ has been designated as a secure node for gems and jewellery exports, as per the detailed policy document. The zone will feature vaulting facilities and faster clearance systems, ensuring safe and efficient handling of high-value consignments. Mihan will be linked to other proposed key nodes such as the Surat-Mumbai Industrial Corridor and Jawaharlal Nehru Port Trust (JNPT), through dedicated logistics corridors. The policy also proposes a jewellery cluster and skill development centre in Nagpur to strengthen the city’s role in the export chain. Officials said the initiative will help streamline trade, improve traceability, and position Mihan as a major jewellery export gateway.
Maharashtra’s gems and jewellery sector contributes 18% to India’s total gross value addition in the industry, positioning the State as a leading hub for gems and jewellery in the country, the resolution stated.
Retail Jeweller India News
