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India Jewellery Park Mumbai – Invest for a bright future



India Jewellery Park Mumbai – Invest for a bright future

India Jewellery Park Mumbai (IJPM) is a Special Purpose Vehicle (SPV) and a wholly-owned subsidiary of the Gem & Jewellery Export Promotion Council (GJEPC). The objective of IJPM is to develop, promote and operate a Jewellery Park in Mumbai – to continue driving India’s export led-growth and improve the quantity and quality of gems and jewellery produced in India.

IJPM works closely with other stakeholders like MIDC, the Government of Maharashtra, Ministry of Commerce and Industry, Central Government, DGFT, Board Members, Trade, and Industry associations, for implementing and operating the project.

Colin Shah

Colin Shah, Chairman, GJEPC, comments, “India Jewellery Park Mumbai has the potential to contribute to Maharashtra’s economic development by attracting investments of over Rs. 14, 000 crore ($1.9 billion) and enhancing India’s global competitiveness. The project is expected to create employment opportunities for over 1 lakh workers in the state.”

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

Vipul Shah, Vice Chairman, GJEPC, adds, “India Jewellery Park Mumbai will augment the jewellery manufacturing ecosystem in the state, complemented by the ease of doing business, thereby evolving it into a preferred destination for global manufacturers and investors.”

India Jewellery Park Mumbai will have a state-of-the-art ecosystem for the labour-intensive jewellery industry and address prevalent issues in the existing environment.

Kirit Bhansali, Chairman, India Jewellery Park Mumbai, notes, “This will be an integrated gem and jewellery industrial park with manufacturing units, commercial areas, residences for industrial workers, and commercial support services. This would help promote local handmade jewellery, and also help improve the living standards of Karigars and develop interest among the next generation of such workers.”

IJPM is envisaged as an iconic city landmark with world-class features and services:

  • Benchmarkedagainst Jewellery Parks in China, Turkey, Italy and Thailand
  • Capacity of more than 2,000 gems and jewellery units
  • Support to jewellery manufacturers/traders interested to relocate, expand, or invest in the state of Maharashtra
  • Promote local and handmade jewellery
  • Training and conducive business environment for enhancing manufacturing and amplifying exports
  • Improved living standards of karigars will develop interest among the next generation of workers
  • MSME promotion and inclusive growth and create 1 lakh direct jobs and multiplier effect through indirect jobs
  • Emphasis on 17 Sustainable Development Goals, including: Health of karigars; safe and de-congested working conditions; and better food, hygiene &habitation facilities, etc.

Among IJPM’s many state-of-the-art facilities will be:

  • Shared common facilities – ETP, STP, Gas Bank Room, Emergency power back-up
  • Advanced Security & Safety Features
  • Car parking as per MIDC norms with ample guest parking
  • Housing sourcing offices of large retailers in Block C
  • Commercial, Industrial and karigars under one roof
  • Banks, Canteens, Hotels nearby, Recreational area, etc.
  • Multi-purpose halls for facilitating buyer-seller meets
  • Fixed parking allotted with ample of guest parking
  • Common air-handling gas chamber
  • ETP for water recycling
  • STP for waste recycling
  • Common gas chamber
  • Food supplier/Canteen (common for all blocks)
  • Machine supplier (common for all blocks)
  • Essential back-up electric supply in case of power failures
  • Other statutory equipment supplies
  • Common area security systems

IJPM has the full support of the state government:

  • Direct Lease signed with MIDC for land acquisition
  • Single-Window Clearance for government approvals
  • Support for development of low-cost residential facilities for workers in the vicinity
  • Expected list of incentives under discussion with the government for units to include inter alia concessions on property tax, electricity duty and power tariff, industrial promotion subsidy, employee related subsidy
  • In addition, eligible units can claim incentives under the Maharashtra Industrial policy and the MSME policy, as applicable

Block details

Block A pricing details

Ideal location & connectivity

Mumbai is one of the foremost centres for diamond trading in the world, accounting for 90% of India’s total diamond exports. Some of the key gems and jewellery hubs such as Zaveri Bazaar, Bharat Diamond Bourse, and SEEPZ are located in the city.

  • Zaveri Bazaar to IJPM – 50-minute drive
  • New Mumbai Airport – 30-minute drive
  • Koparkhairane, Ghansoli, Mahape Station – 10-minute drive

Booking terms and payment schedule

  • The entire project shall be under construction-linked payment system
  • Units between Rs.7,100 – Rs.7,500 per sq. ft. RERA carpet area, including parking as per MIDC norms
  • Booking amount shall be 10% of the total value of the unit

Courtesy: Retail Jeweller India News

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