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India Jewellery Park inaugurated in Navi Mumbai

06 march 2019
The Maharashtra Chief Minister Shri Devendra Fadnavis, Shri Suresh Prabhu, Union Minister of Commerce Industry & Civil Aviation and Shri Subhash Desai State Minister of Industries & Mining inaugurate a first-of-its-kind India Jewellery Park in Navi Mumbai on 5, Feb 2019.
The India Jewellery Park was inaugurated with the foundation stone laying ceremony by Shri Devendra Fadnavis, Hon. Chief Minister of Maharashtra; Shri Suresh Prabhu, Hon. Union Minister of Commerce & Industry and Civil Aviation, Govt. of India; Shri Subhash Desai, Hon. Minister of Industries and Mining, Govt. of Maharashtra in the presence of Shri Pramod Kumar Agrawal, Chairman, GJEPC, Shri Colin Shah, Vice Chairman, GJEPC along with the Committee of Administration of GJEPC at Navi Mumbai.

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                Image credit: GJEPC

The India Jewellery Park, Mumbai, is a project of the Gem & Jewellery Export Promotion Council (GJEPC), which is entrusted to construct the Park as a special purpose vehicle (SPV). With a total project investment of Rs.14,467 crores by way of land, building and raw materials, the project will generate an annual turnover to the tune of Rs.41,467.50 crores. The project is estimated to generate employment of 100,000 workers, enhance manufacturing, investment, export growth and overall economic development of Maharashtra & India.
Hon’ble Chief Minister of Maharashtra, Devendra Fadnavis said, “Mumbai is the largest exporter of gem & Jewellery accounting for $28,320.94 mn. Maharashtra has the largest diamond bourse in the world Bharat Diamond Bourse in Mumbai and now I am happy that we will have the first-of-its-kind India Jewellery Park, Mumbai. The Jewellery Park will transform the gem & jewellery industry in Maharashtra and India and generate additional 1 lakh jobs in the sector. The Maharashtra Govt. has always supported this labour intensive gem & jewellery sector and will continue to support the successful establishment of India Jewellery Park, Mumbai.”
Shri Suresh Prabhu, Hon’ble Union Minister of Commerce and Industry & Civil Aviation, Govt. of India, said, “Indian jewellery industry accounting for 7% GDP and 14% of merchandise exports out of the country, plays an important role in the economy of the country. It has more than 5 mn skilled people working in the sector as of now. To meet the ever-increasing demand of our robust domestic market and international market, it is crucial that we facilitate this industry, which comprises majorly MSME units, with proper environment and infrastructure, technology so that they can innovate and cater to the different markets in the world. India Jewellery Park, Mumbai is an integrated industrial park with all facilities under one roof. The Park will have manufacturing units, commercial areas, residences for industrial workers, and commercial support services. By providing our karigars and jewellery traders with state-of-the-art facilities, I am sure we will surely achieve the gem and jewellery exports target of $75 bn from the current $40 bn annually.”
Shri Pramod Kumar Agrawal, Chairman, GJEPC, said, “The gem & jewellery industry is thankful to the Government of Maharashtra under the leadership of Hon’ble Chief Minister Shri Devendra Fadnavis and the Hon’ble Union Minister Commerce & Industry and Civil Aviation Shri Suresh Prabhu for all the support extended to set up India Jewellery Park, Mumbai. India Jewellery Park, Mumbai will provide support to jewellery manufacturers/traders who are interested to establish, expand or invest in the state of Maharashtra and initiate new business or strengthen their existing business. It is benchmarked with the best-in-class Jewellery Parks created in countries such as China, Turkey, Italy & Thailand. India Jewellery Park, Mumbai will contribute to the economic development of both Maharashtra and India by drawing in investment from across India and abroad.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished