In yet another landmark step, the Gem & Jewellery Export Promotion Council (GJEPC) signed a Memorandum of Understanding (MoU) with Maharashtra Industrial Development Corporation (MIDC) to establish India’s largest jewellery park, to be christened as “India Jewellery Park Mumbai”. The proposed park will be established in Navi Mumbai.
The MoU was signed by GJEPC chairman Pramod Agarwal and MIDC chief executive Sanjay Sethi in the presence of Suresh Prabhu, union minister of commerce & industry, and Devendra Fadnavis, chief minister of Maharashtra at the Magnetic Maharashtra investor summit.
India Jewellery Park Mumbai will come up on a 25-acre parcel of land with 4 million sq ft of built-in area housing more than 5,000 gem and jewellery units in varied sizes ranging from 500 to 10,000 sq ft. The project will attract an investment of over R13,000 crore spread across 3-5 years. A not-for-profit company, India Jewellery Park, has already been constituted as the Special Purpose Vehicle (SPV) to develop the park.
“GJEPC is committed to and aligned with our Prime Minister Narendra Modi’s vision of ‘Skill India’ and ‘Make in India’. The establishment of India Jewellery Park will contribute to the economic development of Maharashtra and India, by facilitating investment, manufacturing, employment of manpower, trade and exports. This dynamic venture will provide effective support to jewellery manufacturers and traders who are interested to relocate, expand or invest in the state of Maharashtra and the region to initiate new business or strengthen their existing business, benchmarking with the jewellery parks created in countries like China. Turkey, Italy, Thailand, etc.” said Pramod Agarwal.
“The jewellery park project is estimated to generate direct employment of around 1 lakh workers in the state of Maharashtra. I am grateful to the Government of India and ministry of commerce & industry in particular for extending their valuable support for the growth and development of the gems and jewellery industry. GJEPC remains committed to continue its aggressive efforts to maintain India’s leadership position in the gems and jewellery industry globally and also be part of India’s growth story by increasing exports,” added Agarwal.
India Jewellery Park Mumbai will ensure compliance with the 17 sustainable development goals as promulgated by the United Nations, including healthy, safe and de-congested working conditions, better food, hygiene and inhabitant facilities in addition to consolidated and latest infrastructure facilities.
GJEPC has also demanded that Government of Maharashtra should give single-window clearance for manufacture and sale of jewellery by granting of 21 odd permissions required for setting up units in the park and also give all concessions available for greenfield investment in the state.
India Jewellery Park Mumbai will come up on a 25-acre parcel of land with 4 million sq ft of built-in area housing more than 5,000 gem and jewellery units in varied sizes ranging from 500 to 10,000 sq ft. The project will attract an investment of over L13,000 crore spread across 3-5 years. ”