GJEPC and MIDC Sign MoU for Jewellery Park in Mumbai – To Be India’s Largest

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GJEPC MIDC MoU

The Gem & Jewellery Export Promotion Council (GJEPC) crossed another milestone today with the signing of an MoU with the Maharashtra Industrial Development Corporation (MIDC) for the setting up India’s largest Jewellery Park in Mumbai.

The signing was graced by Hon’ble Union Minister of Commerce & Industry, Shri Suresh Prabhu ; and Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra. The MoU was signed at the ongoing Convergence, ‘Magnetic Maharashtra’. GJEPC Chairman Pramod Agarwal signed the document on behalf of the apex trade organisation; while MIDC CEO Sanjay Sethi signed on behalf of that body.

To be called “India Jewellery Park Mumbai”, the proposed project will be established in Navi Mumbai, it is understood.

“The proposed India Jewellery Park, will come up on 25 acres of land with four million sq. feet of built up area housing more than 5,000 Gem & Jewellery units in varied sizes ranging from 500 to 10,000 sq. feet,” the GJEPC elaborated. “The project will attract an investment of over Rs. 13,000 crore spread over three to five years.”

A not-for-profit company, India Jewellery Park has already been constituted as a Special Purpose Vehicle(SPV) to develop the park.

“The GJEPC is committed and aligned to our Hon’ble Prime Minister, Shri Narendra Modi’s twin visions of ‘Skill India’ and ‘Make in India’,” said the GJEPC Chairman. “Establishment of India Jewellery Park will contribute to the economic development of both Maharashtra and India, by facilitating investment, manufacturing, employment of manpower, trade and exports. This dynamic venture will provide effective support to jewellery manufacturers/traders who are interested to relocate, expand or invest in the state of Maharashtra and the region to initiate new business or strengthen their existing business, benchmarking with the Jewellery Parks created in countries like China, Turkey, Italy, Thailand, etc.”

He added: “The Jewellery Park project is estimated to generate direct employment of around 1,00,000 workers for the State of Maharashtra. I am grateful to the Government of India and the Ministry of Commerce & Industry, in particular, for extending their valuable support for the growth and development of the gem and jewellery Industry. GJEPC remains committed to continue its aggressive efforts to maintain India’s leadership position in the gems and jewellery industry globally; and also to be part of India’s growth story by increasing exports.”

At the Jewellery Park at Mumbai, the 17 sustainable development goals, as promulgated by the United Nations — which include health; safe and de-congested working conditions; better food, hygiene and habitation facilities – in addition to consolidated and latest infrastructure facilities which can be accessed by the MSMEs will be emphasised. The Jewellery Park will also have a single window permission for manufacture and sale of jewellery. The GJEPC has also demanded that the Government of Maharashtra should give a single window clearance for granting of 21 odd permissions required for setting up units in the Park and also give all concessions available for greenfield investment in the state.

Pic Cap: From (L) to (R) – GJEPC Western Region Chairman, Ashok Gajera; GJEPC Convener, Awards and Co-Convener National Exhibitions Kirit Bhansali; Chairman, GJEPC, Pramod Agarwal; Hon’ble Union Minister of Commerce & Industry, Shri Suresh Prabhu; Hon’ble Chief Minister of Maharashtra, Shri Devendra Fadnavis

News Source : gjepc.org

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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