Gem and Jewellery Export Promotion Council has taken land on lease for 95 years from Maharashtra Industrial Development Corporation for setting up India Jewellery Park Mumbai at Mahape in Navi Mumbai .
Jewellery Park
The Jewellery Park is envisaged to house over 1,000 Gems and Jewellery units on 21.3-acre plot of land.
The India Jewellery Park Mumbai will have manufacturing units, commercial areas, residences for industrial workers and commercial support services. It will provide support to jewellery manufacturers and traders who are interested in expanding business in the state.
GJEPC has formed IJPM as a Special Purpose Vehicle. Other stakeholders include MIDC, Government of Maharashtra, Ministry of Commerce and Industry, Central Government, DGFT, Board Members, Trade and Industry associations, for implementing and operating the project.
Dr P Anbalagan IAS, CEO, MIDC said the project would get all the incentives that are offered to Ultra Mega Projects such as increased FSI, power tariff subsidy, stamp duty exemption and low-cost housing.
Colin Shah, Chairman, GJEPC said the new park will augment the jewellery manufacturing ecosystem in the State complemented by ease of doing business, thereby evolving it into a preferred destination for global manufacturers and investors.
Employment opportunities
It will contribute to economic development of Maharashtra and the country by attracting investments of over ₹20,000 crore and create employment opportunities for over 1 lakh workers, he added.
Vipul Shah, Vice Chairman, GJEPC said the modern machinery and infrastructure at the Park would help reduce gold loss ratio from 10 per cent to 3 per cent. The gold dust can be recovered by suction and drainage systems to make it zero-loss manufacturers, which can save up to 40 tonnes of gold annually.
Kirit Bhansali, Chairman, India Jewellery Park Mumbai said the project will be benchmarked to similar projects in China, Turkey, Italy and Thailand. It will provide support to jewellery manufacturers who are interested in expanding business in Maharashtra or strengthen their existing ventures. It is estimated to house over 1,000 Gems and Jewellery units on 21.3-acre plot at Mahape, Navi Mumbai.
Units from 413 sq ft to 621 sq ft carpet area on total 3 lakh+ sq ft project will be made available. Key highlight of the project include Government support in terms of single-window clearances, competitive pricing, large and medium manufacturing units and commercial space..