Story Highlight
– Maharashtra unveils first gems and jewellery policy.
– Aims to attract ₹1 lakh crore investment.
– Expected to create over 5 lakh new jobs.
– Enhances competitiveness and supports skill development.
– Transforms Maharashtra into a global jewellery hub.
Full Story
The Maharashtra government has announced its inaugural policy aimed at the gems and jewellery sector, with ambitions to draw in ₹1 lakh crore in investments and generate over 500,000 new jobs. This initiative is intended to transform the state into a leading global hub for jewellery manufacturing, exports, and design.
The Maharashtra State Gem and Jewellery Policy 2025 has been developed to facilitate easier business operations, modernise manufacturing facilities, foster innovation, and enhance training and skill development throughout the state. This comprehensive initiative is expected to invigorate the entire ecosystem related to manufacturing, job creation, and exportation in the gems and jewellery industry.
The policy’s formulation involved significant collaboration between the Gem and Jewellery Export Promotion Council (GJEPC) and the state’s Department of Industries over the past 18 months. The GJEPC has contributed crucial insights to ensure the policy aligns with the industry’s dynamic requirements.
Kirit Bhansali, Chairman of the GJEPC, indicated that the new policy is set to unlock various opportunities for investment and innovation, positioning Maharashtra to establish new international standards within the sector.
Uday Samant, the state’s Minister for Industries, stated that this new framework is designed to bolster the industry’s competitiveness, attract both domestic and foreign investments, and further affirm Maharashtra’s pivotal role in India’s jewellery market.
The All India Gem & Jewellery Domestic Council has expressed optimism that the policy will elevate Maharashtra’s status as a competitive global centre for jewellery manufacturing and design, making a substantial contribution to India’s overarching goal of becoming a $5 trillion economy.
Rajesh Rokade, Chairman of the GJC, remarked that the Council fully supports the government’s effort to enhance domestic trade and infrastructure, aiming to position India as a formidable player in the jewellery sector.
Avinash Gupta, Vice Chairman of the GJC, highlighted the Council’s commitment to aiding the implementation of the policy, which includes expanding skill development initiatives for artisans and newcomers via accredited training centres and partnerships with the industry, as well as supporting the creation of advanced manufacturing clusters equipped with state-of-the-art technology.