Story Highlight
– Maharashtra unveils first-ever gems and jewellery policy.
– Targets ₹1 lakh crore investment and 5 lakh jobs.
– Aims to modernize manufacturing and encourage innovation.
– GJEPC collaborated for policy addressing industry needs.
– Policy set to boost Maharashtra’s global jewellery competitiveness.
Full Story
The Maharashtra government has unveiled its inaugural policy aimed at the gems and jewellery sector, with a goal of drawing in ₹1 lakh crore in investments and generating over 500,000 new jobs. This initiative seeks to position the state as a leading global centre for jewellery manufacturing, design, and exports.
The Maharashtra State Gem and Jewellery Policy 2025 aims to enhance the overall business environment, modernise production facilities, foster innovation, and develop training and skilling frameworks throughout the state. By providing a comprehensive support mechanism for manufacturing, job creation, skills enhancement, and export activities, the policy looks to stimulate the entire industry ecosystem.
Over the past eighteen months, the Gem and Jewellery Export Promotion Council (GJEPC) has collaborated closely with the Maharashtra Department of Industries to shape this policy framework. GJEPC’s insights have been instrumental in aligning the policy with the shifting demands of the industry.
Kirit Bhansali, Chairman of GJEPC, remarked that the new policy presents significant opportunities for investment, innovation, and employment, potentially enabling Maharashtra to establish new global standards within the gems and jewellery domain.
Uday Samant, Maharashtra’s Minister for Industries, stated that the policy will bolster the competitiveness of the sector, inviting both domestic and international investments and reinforcing Maharashtra’s pivotal position in India’s jewellery market.
The All India Gem & Jewellery Domestic Council has expressed optimism regarding the policy, highlighting its potential to elevate Maharashtra to an internationally competitive hub for jewellery manufacturing, trade, and design. This, they believe, will play a crucial role in India’s aspiration to reach a $5 trillion economy.
Rajesh Rokade, Chairman of the GJC, affirmed the Council’s support for the government’s initiative, aiming to empower the domestic market, enhance infrastructure, and elevate India’s status as a leading player in the global jewellery industry.
Avinash Gupta, Vice Chairman of the GJC, emphasized the Council’s dedication to the policy’s execution, underscoring efforts to broaden skill development initiatives for artisans and newcomers through accredited training facilities and collaborations within the industry. Additionally, support will be provided for establishing state-of-the-art manufacturing clusters featuring advanced technology and infrastructure.