Surat, Nov 3 (KNN) Maharashtra industries minister Uday Samant on Wednesday announced the government’s plan to develop a diamond cluster in Navi Mumbai.

During his visit to the Gem and Jewellery Export Promotion Council at Bharat Diamond Bourse (BDB), the industry minister also announced a slew of sops for the diamond industry.

“The state government will allocate land for diamond workers’ residences near the India Jewellery Park (IJP),” he said.

Samant further said that the country’s first jewellery park in MHAPE of Navi Mumbai will be spread over 21 acres of land and was expected to create one lakh new jobs.

“We will form a committee to come out with an industrial policy for the gem and jewellery industry shortly. The Maharashtra government has allocated additional land for worker housing near India Jewellery Park being developed by GJEPC in Navi Mumbai,” he added.

The minister emphasized that Maharashtra will do whatever it takes to promote the Rs 40,000 crore jewellery park project conceptualised by GJEPC to boost the industry.

Samant said that Maharashtra cabinet had approved subsidy incentives for jewellery park such as 5 FSI; Rs 1 electricity subsidy for all units and Rs 2 for lab grown diamond units in the park; waiver of electricity duty for all units in the park; 50 per cent SGST waiver for 5 years to all units in the park; 5 per cent interest subvention on term loan for all MSME units; and stamp duty waiver to IJPM for lease.

“Maharashtra is no. 1 in gem and jewellery business and it will continue to grow bigger in the future. The industry is safe and secure due to the cooperation and support of the Maharashtra state government. We shall ensure that the diverse trade constituents of the gem & jewellery industry continues to remain here and flourish,” said Samant.

“We want to spread the benefits of this job generating industry to other parts of Maharashtra such as Ratnagiri, Sambhajinagar, Kolhapur and Nashik among others. We are preparing a Detailed Project Report (DPR) for the same,” he added.

Vipul Shah, GJEPC chairman, said, “Maharashtra plays a significant role when it comes to gem and jewellery exports and we wish to thank the state government for the additional land allocation and all subsidies and waivers for the jewellery park.”

Out of India’s total gem and jewellery exports of USD 37.76 billion, Maharashtra contributed 74 per cent in 2022-23.

(KNN Bureau)