Maharashtra to have world's largest gem and jewellery park worth Rs 60,000 crore

Maharashtra will soon have one of the world's largest gems and jewellery parks, announced Deputy Chief Minister Devendra Fadnavis on Wednesday. The park will be set up in Navi Mumbai, with an estimated investment of Rs 60,000 crore, generating one lakh skilled and unskilled jobs. 

According to the minister's tweet, the park will be spread over 80 acres and be one-of-its-kind manufacturing to the retail park and the largest such facility in the country. 

Fadnavis tweeted, "Spread across more than 80 acres (25 acres in Phase 1), this will be one of the world's largest gem and jewellery parks."

Fadnavis also said that a delegation from the India Bullion & Jewellers Association (IBJA) met with him a few days ago with a proposal to establish a state-of-the-art Gems & Jewellery Park in Navi Mumbai. The facility is expected to create over 1 lakh jobs for both skilled and unskilled professionals.

"The park will generate over 100,000 skilled and unskilled workers directly and indirectly," he said.

The Maharashtra Deputy CM also said he has directed 'all concerned departments to expedite the approval process for this most iconic project of this sector.'

The gems and jewellery industry contributes approximately 7 per cent of India's GDP and employs over 50 lakh people.

According to the government, this industry also helped India reach the $400 billion merchandise export milestone in the previous fiscal year by contributing 10 per cent of the value.

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• Devendra Fadnavis
• IBJA
• Maharashtra
• Navi Mumbai
• gems & jewellery park