Story Highlight
– Maharashtra unveils first-ever gems and jewellery policy.
– Aims for ₹1 lakh crore investment and 5 lakh jobs.
– Focus on modernising manufacturing and encouraging innovation.
– GJEPC collaborated on policy to meet industry needs.
– Policy enhances competitiveness and global jewellery standards.
Full Story
The Maharashtra government has introduced a groundbreaking policy aimed at revolutionising the gems and jewellery sector within the state, with ambitions to draw in investments amounting to ₹1 lakh crore and generate over 500,000 new jobs. Titled the Maharashtra State Gem and Jewellery Policy 2025, this initiative is crafted to enhance the business environment, modernise production facilities, stimulate innovation, and bolster training and skills development across Maharashtra.
Designed to invigorate the entire jewellery ecosystem, the policy emphasises key areas such as manufacturing, employment, skill enhancement, and export activities. For the past 18 months, the Gem and Jewellery Export Promotion Council (GJEPC) has collaborated closely with the Maharashtra Department of Industries to shape this policy framework, incorporating critical insights from industry stakeholders to ensure it meets evolving requirements.
Kirit Bhansali, Chairman of the GJEPC, expressed optimism about the new policy, stating it opens doors to fresh investment opportunities and innovation, positioning Maharashtra to set international standards in the gems and jewellery landscape.
Uday Samant, Maharashtra’s Minister for Industries, noted that the policy is set to boost the industry’s competitiveness, drawing both domestic and international investors, thereby reinforcing Maharashtra’s pivotal role in India’s jewellery sector.
The All India Gem & Jewellery Domestic Council has praised the initiative, declaring it a catalyst for transforming Maharashtra into a competitive global hub for jewellery manufacturing, trade, and design, and aligning with India’s goal of achieving a $5 trillion economy.
Rajesh Rokade, Chairman of the GJC, reiterated the Council’s support for the government’s efforts to empower the domestic market, enhance infrastructure, and position India as a leading player in the global jewellery scene. Avinash Gupta, Vice Chairman of the GJC, added that the Council is dedicated to facilitating the policy’s execution through various means, including expanding skill development initiatives for artisans and newcomers and helping establish modern manufacturing clusters equipped with advanced technologies and robust compliance frameworks.