Dec 14, 2022

NAVI MUMBAI READY FOR WORLD CLASS GEM & JEWELLERY PARK

The delegation of India Bullion & Jewellers Association (IBJA) today met the Deputy Chief Minister of Maharashtra Shri Devendra Fadnavis ji in connection with setting up of State of Art Gems & Jewellery Park to be set up in Navi Mumbai. These Gems & Jewellery Park will be spread across 87 acre and Land for the same has already been acquired for Rupees 1100 cr.

This park will enable India to become hub for Jewellery sector and it will become one Step solution for the International as well as Domestic Buyers.

This park will have more than 5000 SME and large units, with expected capital investment of more than Rs 60,000 crore.

This park will generate employment for more than 1,00,000 skilled & unskilled workers.

This park is expected to contribute to the enhance India’s share of export in Gems & Jewellery market as Indian handcrafted jewellery are very much in demand worldwide.

The current shore of Gems & Jewellery Industry in GDP is 7% and 14% in Merchandise Export.

To enable it to innovate and cater to global market, it is essential to provide suitable eco-system to Gems & Jewellery sector. Mumbai is largest exporter of gems & jewellery accounting for 69% of India’s total export of gems & jewellery.

This jewellery park will enable scattered jewellery manufacturing unit to locate one place with all State of Art Facilities.

The park will have common manufacturing facility and special corridor for Banks, Insurance Companies catering to these sectors.The Park will also have Convention Centre and Exhibition Halls.

This Park will have Manufacturing facility, Retail & Wholesale facility, Hallmarking centre, Vaults apart from Residential Quarters for the Artisan to ensure health and safety standard.

The inspiration behind setting up of park is Prime Minister Shri Narendra Modi ji and his vision of Atma Nirbhar Bharat. The Park has always been a dream project of Deputy Chief Minister Shri Devendra Fadnavis ji, who has assured be full co-operation for setting up these Park.