Story Highlight
– Maharashtra unveils first gems and jewellery policy.
– Aims to attract ₹1 lakh crore investment.
– Expected to create over 5 lakh jobs.
– Focus on modernisation and skill development.
– Strives to position Maharashtra as a global hub.
Full Story
The Maharashtra government has launched its inaugural policy for the gems and jewellery sector, aiming to attract investments of ₹1 lakh crore and generate over 500,000 jobs. This initiative seeks to position the state as a leading global hub for jewellery manufacturing, exports, and design.
The Maharashtra State Gem and Jewellery Policy 2025 focuses on improving business conditions, modernising manufacturing practices, fostering innovation, and enhancing training and skill development across the region. It is anticipated that the policy will invigorate the entire ecosystem, benefiting manufacturing, job creation, skills enhancement, and export activities.
The Gem and Jewellery Export Promotion Council (GJEPC) collaborated closely with the Maharashtra Department of Industries for the past 18 months to shape this policy framework. Their contributions were critical in ensuring that the policy aligns with the industry’s evolving requirements.
Kirit Bhansali, Chairman of GJEPC, highlighted the potential of this policy to create new investment opportunities and foster innovation, helping Maharashtra achieve new global standards within the jewellery sector. Uday Samant, Maharashtra’s Minister for Industries, expressed confidence that the new policy would improve industry competitiveness and draw both domestic and international investors, reinforcing Maharashtra’s pivotal role in India’s jewellery market.
The All India Gem & Jewellery Domestic Council also endorsed the initiative, asserting its potential to convert Maharashtra into a globally competitive centre for jewellery manufacturing and trade, thereby significantly contributing to India’s goal of becoming a $5 trillion economy.
Rajesh Rokade, Chairman of the GJC, affirmed the council’s commitment to support the government’s objectives in enhancing domestic trade, upgrading infrastructure, and establishing India as a key player in the global jewellery landscape. Meanwhile, Avinash Gupta, Vice Chairman of GJC, indicated that the council would back the policy’s rollout through various initiatives, including expanding skill development programmes for artisans and newcomers. This initiative will support the establishment of advanced manufacturing clusters equipped with state-of-the-art technology and compliant infrastructure.