Maharashtra govt to boost jewellery trade

Mumbai: In a bid to give a boost to the jewellery trade, the Maharashtra government has decided to allocate additional land for India’s first-ever Jewellery Park in Mahape in the satellite township of Navi Mumbai.

The additional land is expected to be used to create workers' housing complex.

The announcement came from state’s Industry Minister Uday Samant, who visited the Bharat Diamond Bourse (BDB) at the Bandra Kurla Complex and held deliberations with the Gem and Jewellery Export Promotion Council (GJEPC).

"We will form a committee to come out with an industrial policy for the gem and jewellery industry by the Government of Maharashtra shortly. We have allocated additional land for workers’ housing,” Samant said.

GJEPC Chairman Vipul Shah, Vice Chairman Kirit Bhansali and BDB Vice President Mehul Shah gave a guided tour of the complex to Samant.

The GJEPC and BDB delegation thanked Maharashtra Chief Minister Eknath Shinde, Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar and Samant for helping them with a range of incentives which will expedite the development of this jewellery park.

“Maharashtra is no. 1 in gem and jewellery business and it will continue to become bigger and bigger in the future. The industry is safe and secure due to the cooperation and support of the Maharashtra government. We shall do whatever it takes to ensure that the diverse trade constituents of the gem and jewellery industry will continue to remain here and flourish,” Samant said.

“We want to spread the benefits of this job generating gem and jewellery industry to other parts of Maharashtra such as Ratnagiri, Chhatrapati Sambhajinagar, Kolhapur and Nashik among others. We are preparing a Detailed Project Report (DPR) for the same,” he said.

"Out of India’s total gem and jewellery exports of $37.76 billion, Maharashtra contributed 74 per cent in 2022-23. The Jewellery Park Mumbai is poised to be a game-changer, with an anticipated investment of Rs. 40,000 crore and the 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. This initiative underscores Maharashtra's commitment to the success of the industry,” added Samant.