Maharashtra Chief Minister Devendra Fadnavis has launched the commencement of work on India’s first jewellery park at Mahape in Navi Mumbai, a project with an estimated investment potential of Rs 50,000 crore that is expected to generate one lakh direct and indirect jobs by the end of 2028.
The is being developed by the Gem and Jewellery Export Promotion Council (GJEPC) across 21.3 acres in the Navi Mumbai MIDC area. The project aims to strengthen Maharashtra’s gems and jewellery manufacturing ecosystem, attract fresh investments and enhance the state’s competitiveness in global markets.
Addressing the project commencement ceremony, Fadnavis said the Maharashtra Industrial Development Corporation (MIDC) was supporting the project through land allotment, statutory permissions and incentives. According to the state government, the first phase is targeted to become operational by the end of 2028.
Project Infrastructure and Manufacturing Facilities
The jewellery park will have a total construction area of approximately 65.61 lakh sq ft and a carpet area of 34.35 lakh sq ft. The development will comprise 10 blocks, including eight blocks for large and medium-sized manufacturing units, one block for small manufacturing units and another for commercial offices.
Manufacturing units will feature floor plates ranging from 1,000 sq ft to 25,000 sq ft, catering to businesses of different sizes. The GJEPC said all statutory approvals and bank financing for the project had been secured.
Property prices in the park will start at Rs 10,400 per sq ft. Eligible businesses will receive incentives, including exemptions from stamp duty, MIDC transfer fees and electricity duty, a 50% SGST waiver for the specified eligibility period, and interest subsidies on term loans for micro, small and medium enterprises (MSMEs). Eligible lab-grown diamond manufacturing units may also receive electricity tariff support, subject to applicable conditions.
Investment and Employment Potential
Deputy Chief Minister Eknath Shinde said the government intended to promote the jewellery park to achieve an investment potential of Rs 1 lakh crore and create five lakh jobs upon completion of all three phases.
GJEPC chairman Kirit Bhansali said more than 70 companies had expressed interest in investing in the project. The park is expected to support MSMEs, expand domestic jewellery manufacturing capacity, encourage the development of Indian jewellery brands and improve the industry’s access to international markets.
Fadnavis noted that the gems and jewellery sector contributes around 7% of India’s GDP and said the project would help Maharashtra maintain its reported 50% share of the country’s jewellery exports.
With dedicated manufacturing infrastructure, commercial facilities and targeted incentives, the India Jewellery Park is intended to establish Mahape as a major hub for jewellery production, exports and investment.
