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Minister: Maharashtra will have a gem and jewellery park worth Rs. 60,000 crore.

Deputy Chief Minister Devendra Fadnavis’ announcement on Wednesday that, Maharashtra would boast one of the biggest gem and jewellery parks in the world.


A tweet from Mr. Fadnavis says thag, the projected park in Navi Mumbai, the satellite city of Mumbai, will bring in an estimated Rs 60,000 crore in investment and create 1 lakh skilled and unskilled jobs.


Manufacturing and retailing of precious stones and jewellery will be included in the park that the India Bullion and Jewellers Association (IBJA) has proposed. The Minister tweeted that it will eventually cover more than 80 acres and that the first phase will see the development of 25 acres.


Over 50 lakh people are employed by the gem and jewellery business, which contributes about 7% to India’s GDP.


The government claims that this sector contributed 10% of the value, which was crucial in helping India reach the $400 billion milestone in terms of merchandise exports in the previous fiscal year.


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