GJEPC & MIDC Sign MoU For In­dia Jew­ellery Park Mum­bai

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In yet an­other land­mark step, the Gem & Jew­ellery Ex­port Pro­mo­tion Coun­cil (GJEPC) signed a Mem­o­ran­dum of Un­der­stand­ing (MoU) with Ma­ha­rash­tra In­dus­trial Devel­op­ment Cor­po­ra­tion (MIDC) to es­tab­lish In­dia’s largest jew­ellery park, to be chris­tened as “In­dia Jew­ellery Park Mum­bai”. The pro­posed park will be es­tab­lished in Navi Mum­bai.

The MoU was signed by GJEPC chair­man Pramod Agar­wal and MIDC chief ex­ec­u­tive San­jay Sethi in the pres­ence of Suresh Prabhu, union min­is­ter of com­merce & in­dus­try, and Deven­dra Fad­navis, chief min­is­ter of Ma­ha­rash­tra at the Mag­netic Ma­ha­rash­tra in­vestor sum­mit.

In­dia Jew­ellery Park Mum­bai will come up on a 25-acre par­cel of land with 4 mil­lion sq ft of built-in area hous­ing more than 5,000 gem and jew­ellery units in var­ied sizes rang­ing from 500 to 10,000 sq ft. The pro­ject will at­tract an in­vest­ment of over

R13,000 crore spread across 3-5 years. A not-for-profit com­pany, In­dia Jew­ellery Park, has al­ready been con­sti­tuted as the Spe­cial Pur­pose Ve­hi­cle (SPV) to de­velop the park.

“GJEPC is com­mit­ted to and aligned with our Prime Min­is­ter Naren­dra Modi’s vi­sion of ‘Skill In­dia’ and ‘Make in In­dia’. The es­tab­lish­ment of In­dia Jew­ellery Park will con­trib­ute to the eco­nomic devel­op­ment of Ma­ha­rash­tra and In­dia, by fa­cil­i­tat­ing in­vest­ment, man­u­fac­tur­ing, em­ploy­ment of man­power, trade and ex­ports. This dy­namic ven­ture will pro­vide ef­fec­tive sup­port to jew­ellery man­u­fac­tur­ers and 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.” said Pramod Agar­wal.

“The jew­ellery park pro­ject is es­ti­mated to gen­er­ate di­rect em­ploy­ment of around 1 lakh work­ers in the state of Ma­ha­rash­tra. I am grate­ful to the Govern­ment of In­dia and min­istry of com­merce & in­dus­try in par­tic­u­lar for ex­tend­ing their valu­able sup­port for the growth and devel­op­ment of the gems 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 be part of In­dia’s growth story by in­creas­ing ex­ports,” added Agar­wal.

In­dia Jew­ellery Park Mum­bai will en­sure com­pli­ance with the 17 sus­tain­able devel­op­ment goals as pro­mul­gated by the United Na­tions, in­clud­ing healthy, safe and de-con­gested work­ing con­di­tions, bet­ter food, hy­giene and in­hab­i­tant fa­cil­i­ties in ad­di­tion to con­sol­i­dated and lat­est in­fra­struc­ture fa­cil­i­ties.

GJEPC has also de­manded that Govern­ment of Ma­ha­rash­tra should give sin­gle-win­dow clear­ance for man­u­fac­ture and sale of jew­ellery by 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.

In­dia Jew­ellery Park Mum­bai will come up on a 25-acre par­cel of land with 4 mil­lion sq ft of built-in area hous­ing more than 5,000 gem and jew­ellery units in var­ied sizes rang­ing from 500 to 10,000 sq ft. The pro­ject will at­tract an in­vest­ment of over

L13,000 crore spread across 3-5 years. ”

Union min­is­ter of com­merce & in­dus­try Suresh Prabhu and Ma­ha­rash­tra chief min­is­ter Deven­dra Fad­navis (cen­tre) an­nounc­ing the launch of In­dia Jew­ellery Park Mum­bai.

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