Davos, [Current Date] – The Gem & Jewellery Export Promotion Council (GJEPC) and the Government of Maharashtra achieved a momentous milestone today with the official signing of a Memorandum of Understanding (MoU) during the World Economic Forum 2024. This landmark agreement signifies the commencement of the development of India’s inaugural and largest Jewellery Park, strategically located in Navi Mumbai.
The MoU was inked by the Chief Minister of Maharashtra, Eknath Shinde, and GJEPC Chairman Vipul Shah, amidst the distinguished presence of key dignitaries, including Uday Samant, Minister of Industries; Dr. Harshdeep Kamble, IAS, Principal Secretary of Industries; Shrikant Shinde, Member of the Lok Sabha; Bhushan Gagrani, Principal Secretary, Urban Development Department; Vipin Sharma, CEO, MIDC; Kirit Bhansali, Vice Chairman, GJEPC; and Sabyasachi Ray, Executive Director, GJEPC.
Chief Minister Eknath Shinde conveyed his enthusiasm for the collaboration, stating, “Maharashtra has been a stalwart in trade and business, particularly in gem and jewellery exports. The state’s substantial contribution of 72% to India’s gem and jewellery exports underscores its pivotal role in the industry. The Jewellery Park in Navi Mumbai is a transformative project poised to generate 1 lakh jobs, thereby significantly contributing to both the state and the nation’s economy. The government pledges unwavering support to GJEPC, fostering an environment conducive to the flourishing of this critical sector.”
Vipul Shah, Chairman of GJEPC, echoed the sentiment, affirming, “The Jewellery Park in Navi Mumbai embodies the vision of Make in India, aligning seamlessly with our Prime Minister Narendra Modi’s aspirations.” Shah emphasized the collaboration’s significance, stating, “This partnership marks a momentous commitment with the Maharashtra Government to propel the gem and jewellery industry to unprecedented heights. With a substantial investment of Rs. 50,000 crores, the project is set to create 1 lakh new jobs, injecting new skills, technology, and catalyzing export growth and GDP enhancement. The park is expected to attract significant Foreign Direct Investment (FDI) from international entities, further solidifying India’s dominance in the global arena.”
Highlighting GJEPC’s commitment to completing the Jewellery Park within 36 months from the project’s initiation, Shah expressed gratitude to Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis for their invaluable support. He acknowledged the facilitation of necessary permissions, registrations, approvals, clearances, and fiscal incentives from relevant state departments, underscoring the alignment with existing policies, rules, and regulations.
Kirit Bhansali, Vice Chairman of GJEPC, conveyed gratitude, stating, “Embarking on a colossal project like Jewellery Park would have been impossible without the steadfast support of the Maharashtra Government. I extend my sincere thanks to both Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis for their assurance and support in initiating this project. I am confident that their continued support will guide us to the successful completion of the project.”
Located in the Mahape industrial area, the Government of Maharashtra has allocated a 21-acre land to GJEPC for the India Jewellery Park. Envisaged as a comprehensive hub, the park will offer state-of-the-art infrastructure and ancillary facilities, accompanied by a skilled workforce, to manufacturers in the gems and jewellery industry. The park aims to establish an end-to-end jewellery manufacturing ecosystem, providing integrated services under one roof, including security, logistics, refineries, machinery, and more. Key components of the facilities include a Customs office, effluent treatment plant, compound wall, centralized vaulting system, water supply, workshops, and allied utilities. A crucial objective is to support Micro, Small, and Medium Enterprises (MSMEs), fostering additional job opportunities within the employment-intensive gems and jewellery sector. Through these initiatives, India Jewellery Park aims to catalyze growth, efficiency, and innovation in the country’s vibrant jewellery industry.
