Phase 1 Development to Cover 24.97 Lakh Sq. Ft
The Gem & Jewellery Export Promotion Council (GJEPC) marked the commencement of construction of India Jewellery Park Mumbai (IJPM) in the presence of Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde and GJEPC Chairman Kirit Bhansali.
Located at Mahape, Navi Mumbai, the project spans 21.30 acres and is planned with 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 manufacturing units, one block for small manufacturing units and one block for commercial offices.
Phase 1 will cover four blocks — A4, A5, A6 and A7 — with a planned construction area of 24.97 lakh sq. ft. and a carpet area of 13.32 lakh sq. ft. According to GJEPC, all statutory approvals have been obtained and bank financing has been approved.
Manufacturing spaces for large and medium businesses will offer floor plates ranging from 1,000 to 25,000 sq. ft., catering to enterprises of different sizes. The project is designed to bring manufacturing facilities and supporting services, including customs facilities, banks, refineries and offices, into a common industrial ecosystem.
Devendra Fadnavis Links Project to Investment and Export Growth
Devendra Fadnavis described the project as a strategic step towards strengthening India's jewellery manufacturing infrastructure and expanding its global competitiveness.
“The India Jewellery Park Mumbai is the future of our gem and jewellery industry. With the commencement of construction, we are taking a decisive step towards creating world-class infrastructure that will strengthen manufacturing, attract investments and generate employment,” he said.
The Chief Minister highlighted the project's estimated investment potential of Rs. 50,000 crore and its capacity to create around one lakh direct and indirect jobs.
He also linked the development to India's expanding international trade relationships, noting that Free Trade Agreements (FTAs) with key markets could create new opportunities for exports, market access and international collaboration.
“With the support of GJEPC, we are laying the foundation for a stronger, more competitive and globally connected gem and jewellery industry,” Devendra Fadnavis said.
During his address, he also stressed the need to modernise infrastructure, tools and systems to support the next phase of industry growth, reiterating that the park represents the future of the sector.
Kirit Bhansali Sees Integrated Hub as a Manufacturing Catalyst
GJEPC Chairman Kirit Bhansali said the project would provide a common platform for manufacturers, artisans and allied service providers, with a particular focus on creating opportunities for micro, small and medium enterprises (MSMEs).
“India Jewellery Park Mumbai will be a game-changer for India's gem and jewellery industry,” Kirit Bhansali said.
He added that bringing manufacturers, artisans and allied services under one roof would create opportunities for MSMEs, encourage investment, generate employment and strengthen India's jewellery manufacturing capabilities.
The development is also expected to support Indian jewellery brands and improve their competitiveness in international markets. Kirit Bhansali attributed the project's investment proposition to the support of the Maharashtra government and incentives available under the Maharashtra Gems and Jewellery Policy 2025.
The policy framework includes incentives for eligible businesses such as stamp duty and MIDC transfer fee exemptions, a 50% SGST waiver for the specified eligibility period, electricity duty exemptions and interest subsidies on term loans for MSMEs. Eligible lab-grown diamond units may also receive electricity tariff support, subject to applicable conditions.
A single-window clearance mechanism under the MAITRI policy is intended to simplify approvals and improve the ease of doing business.
Kirit Bhansali said the park would contribute towards India's gem and jewellery export ambitions and help establish Brand India globally through craftsmanship, quality and innovation.
Eknath Shinde Highlights Skilled Workforce and Industry Legacy
Deputy Chief Minister Eknath Shinde highlighted Maharashtra's established position in the gems and jewellery industry, referring to the legacy of Zaveri Bazaar, SEEPZ and Bharat Diamond Bourse.
“India Jewellery Park Mumbai will take that legacy forward by bringing manufacturing, skilled artisans, design, technology and innovation together under one roof,” Eknath Shinde said.
He emphasised the importance of skill development in creating employment opportunities for young people and enabling manufacturers to compete in international markets.
“Our artisans and skilled designers are the backbone of this industry,” he said, adding that the project was an important step towards building a stronger and more self-reliant Maharashtra.
In his remarks at the ceremony, Eknath Shinde also highlighted the sector's economic significance, stating that it accounts for 7% of India's GDP and employs more than 50 lakh workers. He noted that Maharashtra, particularly Mumbai, accounts for more than 50% of India's gems and jewellery exports.
Eknath Shinde also referred to the Maharashtra government's Gems and Jewellery Policy as a mechanism to promote manufacturing, trade and innovation in the sector.
Launch Pricing Starts at Rs. 10,400 Per Sq. Ft.
The Phase 1 pricing presentation announced starting prices of Rs. 10,400 per sq. ft. for Block A4 and Rs. 11,400 per sq. ft. for Blocks A5, A6 and A7. An exclusive launch price was announced for the first 3,92,000 sq. ft.
The project also offers zero stamp duty and zero transfer charges, according to GJEPC. The transcript of the event presentation additionally referred to electricity duty waivers and subsidised electricity charges, subject to applicable terms.
The development has already attracted interest from industry participants, with more than 70 companies expressing interest in investing in the park. The response indicates interest in a consolidated manufacturing location that combines production space with access to supporting infrastructure and services.
Execution and Investor Participation Will Shape the Project's Impact
The commencement of construction marks a significant milestone in GJEPC's effort to establish an integrated jewellery manufacturing hub in Maharashtra. By bringing enterprises of different sizes together with skilled workers, commercial facilities and allied services, India Jewellery Park Mumbai aims to strengthen manufacturing capacity and support employment generation.
The project's progress will depend on the execution of its construction phases, investor participation and the effective implementation of policy incentives. If delivered as planned, the park could provide a shared industrial platform for jewellery manufacturers seeking to expand operations, improve infrastructure access and strengthen India's position in global gems and jewellery markets.
