Mumbai, Mar 5 (KNN) A year after signing a Memorandum of Understanding (MoU) with the Maharashtra Government, the gems and jewellery sector is set to get India’s first jewellery park here.

The park would be developed on co-operative housing model basis accommodating about 4,800 large and small units encompassing the entire jewellery value chain.

The jewellery industry is expecting a fund allocation from Maharashtra government for workers' welfare and for small business units in the jewellery sector.

The unique feature of this park is that both exporters and domestic jewellery suppliers would be able to conduct their businesses under one roof.

Most importantly, jewellery exporters would be able to take advantage of all the benefits enjoyed by units in export processing zones.

Maharashtra Chief Minister Devendra Fadnavis has promised industry leaders that his government will improve infrastructure in this area and link it to roads and railway stations.

The Maharashtra government has allotted 21 acres to the park and has also assured it will provide all possible assistance for its development and smooth functioning.

Union Minister of Commerce and Industry Suresh Prabhu will lay the foundation stone of the park. (KNN/JM)