Home Retail GJEPC signs MoU with MIDC for India’s largest jewellery park in Mumbai

GJEPC signs MoU with MIDC for India’s largest jewellery park in Mumbai

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In yet another landmark step, The Gem & Jewellery Export Promotion Council (), the apex body of Indian Gem & Jewellery Industry has signed a Memorandum of Association (MoU) with Maharashtra Industrial Development Corporation () to establish India’s largest jewellery park, to be christened as ‘India Jewellery Park Mumbai’.

GJEPC signs MoU with MIDC for India’s largest jewellery park in Mumbai
The proposed jewellery park, which will be established in Navi Mumbai, will come up on a 25 acres of land with 4 million sq.ft of built in area

The proposed jewellery park, which will be established in Navi Mumbai, will come up on a 25 acres of land with 4 million sq.ft of built in area housing more than 5,000 gem & jewellery units in varied sizes ranging from 500 to 10,000 sq.ft. The project will attract an investment of over Rs 13,000 crore spread across 3-5 years.

Not for profit company, India Jewellery Park has already been constituted as the Special purpose Vehicle (SPV) to develop the park.

“GJEPC is committed and aligned to our Prime Minister, Narendra Modi’s vision of ‘Skill India’ &‘Make in India’. Establishment of India Jewellery Park will contribute to the economic development of both Maharashtra and India, by facilitating investment, manufacturing, employment of manpower, trade and exports. This dynamic venture will provide effective support to jewellery manufacturers/ 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 Park created in countries like China. Turkey, Italy, Thailand, etc,” said , Chairman GJEPC at the time of signing the MoU.

“Jewellery park project is estimated to generate direct employment of around 1,00,000 workers for the State of Maharashtra. I am grateful to Govt. of India and Ministry of Commerce & Industry in particular for extending their valuable support for the growth and development of the Gem & Jewellery Industry. GJEPC remains committed to continue its aggressive efforts to maintain India’s leadership position in Gems & Jewellery Industry Globally and also be part of India’s growth story by increasing exports” added Agarwal.

Through the jewellery park at Mumbai, the 17 sustainable development goals, as promulgated by the United Nations which include healthy, safe and de-congested working conditions, better food, hygiene and inhabitant facilities in addition to consolidated and latest infrastructure facilities wherein SME workers will be ensured with single window permission for manufacture and sale of jewellery.

GJEPC has also demanded that Govt of Maharashtra should give single window clearance 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.