GJEPC launches India Jewellery Park Mumbai

By

Isabelle Crossley

Published
Jan 17, 2022

The Gem and Jewellery Export Promotion Council has completed construction on its India Jewellery Park Mumbai and has opened up bookings for spaces in the manufacturing park. 

“GJEPC proudly announces launch of India Jewellery Park Mumbai,” the traders body announced on Facebook on January 16. “An Iconic, state-of-the-art architecture, IJPM is envisaged to house more than 1,000 gems and jewellery units on a sprawling 21.3-acre plot of land in Mahape, Navi Mumbai.” 
 
The GJEPC announced in March, 2019, that it would be investing over Rs 14,000 crore to set up the India Jewellery Park at Navi Mumbai. The park is designed to create around one lakh jobs in the Maharashtra jewellery sector, generate revenue totalling around Rs 40,000 crore and contribute towards boosting Indian jewellery exports.

At the time of beginning construction on the park, the chief minister of Maharashtra at the time Devendra Fadnavis said that he expects the Maharashtra jewellery sector to be a major contributor to the state’s economy after the jewellery park is completed. However, as Maharashtra is currently one of the worst affected states by the pandemic, this economic growth may take longer than originally envisaged. The mid-term goal is for Maharashtra to become a trillion dollar economy by 2025, according to Fadnavis.