Inaugurated by Piyush Goyal, Union Minister for Commerce & Industry, Government of India, in Mumbai on December 11, it is a key step in enhancing infrastructure for India’s jewellery export ecosystem
Mumbai: The Santacruz Electronics Export Processing Zone (SEEPZ) Special Economic Zone marked a significant milestone with the inauguration of its New Enterprises & Service Tower (NEST-2) by Piyush Goyal, Union Minister for Commerce & Industry, Government of India, in Mumbai on December 11, 2025. The state-of-the-art facility is a key step in infrastructure development aimed at enhancing India’s jewellery export ecosystem.
The new facility provides jewellery manufacturers and exporters with modern, efficient spaces to support their operations. Several jewellers with units at SEEPZ are set to benefit directly from these upgrades, which will allow for expanded capabilities and increased competitiveness in global markets. The event was attended by Vimal Anand, IRS, Joint Secretary, Ministry of Commerce & Industry, and Dnyaneshwar B. Patil, Zonal Development Commissioner, SEEPZ. Also present were key representatives from the Gem and Jewellery Export Promotion Council (GJEPC), including Shaunak Parikh, Vice Chairman of GJEPC, and Colin Shah, Head of the Working Group at Bharat Ratnam Mega CFC.
In his address, Goyal highlighted SEEPZ’s ongoing transformation, supported by strategic initiatives such as reduced power tariffs, waste-to-wealth programmes and digital infrastructure. He urged industry stakeholders to adopt transparent practices and use SEEPZ’s resources responsibly. “True progress is built on collective integrity, and the Government is your partner in this transformation,” said Piyush Goyal.
Goyal also emphasized India’s ambition to become a $30–35 trillion economy by 2047, stressing the importance of modern infrastructure and technology to achieve this goal. “With the ongoing transformation at SEEPZ, we are setting the stage for India to become a global leader in manufacturing and exports. This infrastructure upgrade will unlock new opportunities and accelerate India’s competitiveness in the global market,” he added.
Dnyaneshwar B. Patil shared that SEEPZ’s revenues have increased from Rs 86 crore to a projected Rs 120 crore this year. He highlighted the success of initiatives like India’s first in-house SEZ ERP system and 24/7 Customs operations. Additionally, SEEPZ’s waste-to-wealth programme grew from Rs 80 lakh to Rs 11.66 crore. Patil also emphasized the need for Global FSI approval from MIDC to unlock SEEPZ’s full potential.
Adil Kotwal, President of the Silver Gift Jewellery Manufacturers Association (SGJMA), discussed the impact of NEST-2 on the jewellery sector. He noted a 30% rise in SEEPZ exports, from Rs 23,000 crore to nearly Rs 30,000 crore. Kotwal also advocated the creation of a single-window clearance system within SEEPZ by 2026 to streamline operations.
“With Government support, we have the talent and infrastructure to elevate SEEPZ to global leadership in jewellery manufacturing,” Kotwal added.
The inauguration concluded with a reaffirmed commitment to positioning SEEPZ as a globally competitive, transparent, and innovation-driven export hub, reinforcing India’s leadership in global jewellery manufacturing.
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