Indian woman wearing jewelry

GJEPC SIGNS MOU TO DEVELOP $2 BILLION MUMBAI’S JEWELERY PARK

The Gem & Jewellery Export Promotion Council (GJEPC) has signed a Memorandum of Understanding (MoU) with Maharashtra Industrial Development Corporation (MIDC) in a big step to establishing India’s first jewelry industrial park in Mumbai.

 

According to Gem Konnect, the India Jewellery Park Mumbai will be established in the area of Navi Mumbai, and will be spread over four million square feet. It will house more than 5,000 gem and jewellery units of varied sizes. The park, which will be built by a not for profit company called India Jewellery Park, will entail a $2 billion investment over a 3-5-year period.

 

GJEPC Chairman Pramod Agarwal said: “The jewelry park project is estimated to generate direct employment of around 100,000 workers for the state of Maharashtra. The 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”.

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