Maharashtra’s Honorable Minister of Industry, Shri Uday Samant, made a significant announcement during his visit to the Gem & Jewellery Export Promotion Council (GJEPC) and Bharat Diamond Bourse (BDB) in Mumbai.
The state government has decided to allocate additional land adjacent to the India Jewellery Park (IJPM) for the residence of workers. This strategic move is set to fortify the gem and jewellery industry’s foothold in Maharashtra and create employment opportunities on an unprecedented scale.
The India Jewellery Park, located in MHAPE (Navi Mumbai) and spread over 21 acres, is set to become the nation’s first-ever comprehensive industrial park dedicated to the gem and jewellery sector. This groundbreaking project is anticipated to generate around 100,000 new jobs, further establishing Maharashtra as a key player in the gem and jewellery export sector.
Shri Samant, after becoming the first State Industry Minister to visit the iconic Bourse in 13 years, pledged to support the industry’s growth. “We will form a committee to come out with an industrial policy for the gem and jewellery industry by the Government of Maharashtra shortly. Maharashtra Government has allocated additional land for worker housing near India Jewellery Park by GJEPC in Navi Mumbai,” he says.
The Honorable State Minister, accompanied by Vipul Shah (chairman, GJEPC), Kirit Bhansali (vice chairman, GJEPC), and Mehul Shah (vice president, BDB), received a guided tour of the Bourse and highlighted the state’s commitment to the industry.
Shri Samant emphasised Maharashtra’s position as a leader in the gem and jewellery business and pledged to ensure its continuous growth. He also expressed the government’s desire to expand the industry’s benefits to other parts of the state, such as Ratnagiri, Sambhajinagar, Kolhapur, and Nashik, and mentioned that a Detailed Project Report (DPR) is in the works for this purpose.
Vipul Shah, chairman of GJEPC, praised the state government’s support, emphasising that Maharashtra contributed 74 percent of India’s total gem and jewellery exports in 2022 and 2023. The Jewellery Park Mumbai is expected to be a game-changer, with a substantial investment of Rs 40,000 crore (AUD $7.4m) and the creation of over 100,000 employment opportunities.
Kirit Bhansali, vice chairman of GJEPC, thanked various government officials for their swift action in providing incentives to expedite the development of the Jewellery Park, highlighting the project’s potential to boost the industry to new heights.
Mehul Shah, vice president of Bharat Diamond Bourse, emphasised that the industry is thriving, and the BDB remains a hub of activity, with increasing opportunities in the lab-grown diamond segment.
India is a global leader in cut and polished diamonds, with 14 out of 15 diamonds manufactured in the country. The Bharat Diamond Bourse, located in Mumbai, is renowned for its world-class infrastructure and plays a crucial role in maintaining India’s leadership position.
The India Jewellery Park project, covering 21 acres in the MHAPE industrial area, allocated by the Government of Maharashtra, aims to enhance global competitiveness and contribute to the development of the state. With its establishment, India aims to become the top exporter of gold jewellery globally.