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Land allotment approved for Jaipur GJ Bourse

In a significant stride towards enhancing India’s gem and jewellery industry, the Rajasthan Govt. has approved the allocation of approximately 44,000 square meters of land at the reserve rate for the establishment and development of the Jaipur Gem and Jewellery Bourse. This joint collaboration between the Gem & Jewellery Export Promotion Council (GJEPC) and the Jewellers Association Jaipur is set to invigorate the export of gems and is anticipated to generate a host of employment opportunities, bolstering both the local economy and the state’s overall progress.

The approved land will be granted to the Jaipur Gem and Jewellery Bourse’s Special Purpose Vehicle (SPV), specially constituted to oversee the creation of the Gem Bourse. The SPV will receive the land on a 99-year lease at a rate 3 times the industrial reserve rate. This strategic decision is aimed at not only promoting the gem and jewellery sector but also fostering economic growth by creating an environment conducive to trade and investment.

Vipul Shah, Chairman of GJEPC, declared, “The Rajasthan Govt.’s approval for the land allotment is a watershed moment for our gem and jewellery industry. This step will pave the way for a state-of-the-art trading platform that will attract global attention and fortify Jaipur’s position as a global gem and jewellery hub.”

The Gem Bourse project is anticipated to generate approximately 60,000 direct and indirect employment opportunities, injecting vitality into the local workforce and economy. This infusion of jobs is expected to yield a positive cascading effect, influencing various sectors and contributing to the broader socio-economic development of the state.

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