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Maharashtra govt grants IJP major concessions

The Maharashtra government has given India Jewellery Park in Mahape,Navi Mumbai mega project status.To be developed by the GJEPC, IJP will be spread over 21 acres and consist of 1354 units.It is expected to bring an investment of Rs 20,000 crore ($2.8 billion) and create direct and indirect employment opportunities for one lakh people.

The Maharashtra government has announced a series of concessions for IJP, including FSI of 5, waiver of electricity duty,Rs1 electricity subsidy for all units and Rs 2 for lab grown diamond units.

Other subsidies include 50 % GST waiver for 5 years, stamp duty waiver for lease agreement and 5 % interest subvention for MSME term loans.

Thanking the Maharashtra government, Vipul Shah, Chairman, GJEPC said " We commend efforts of Honourable CM and Honourable Dy CM of Maharashtra for Swift and decisive action in granting game changing concessions to IJP.It will drive investment, create employment and propel GJ industry to new heights.Together let's seize this moment and chart a path of growth and prosperity."

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