Maharashtra Unveils Rs 1 Lakh Crore Investment Plan for Gems and Jewellery Sector by 2030

The Maharashtra government unveiled its Gems and Jewellery Policy 2025 on Wednesday, establishing an ambitious investment target of Rs 1 lakh crore and aiming to generate 5 lakh new employment opportunities in the sector over the next five years.

According to a government resolution (GR) issued by the Industry Department, the policy includes financial incentives estimated at Rs 1,651 crore for the period of 2025-30, with an additional allocation of Rs 12,184 crore planned for the following two decades (2031-2050), bringing the comprehensive financial commitment to Rs 13,835 crore.

Officials confirmed that the policy will remain effective for five years or until superseded by a new initiative. The government has already earmarked Rs 100 crore in budgetary provisions for the 2025-26 financial year under a mandatory head specifically designated for policy implementation.

The resolution highlighted that Maharashtra's gems and jewellery sector currently contributes 18 percent to India's total gross value addition in this industry, cementing the state's position as a premier hub for gems and jewellery activities nationwide.

This strategic policy aims to double the state's exports in the sector while transforming informal businesses into recognized industries through comprehensive regulatory support, financial incentives, and facilitated access to formal markets.

Among the key infrastructure developments is the India Jewellery Park Mumbai, spanning 21 acres in Navi Mumbai's Mahape industrial zone. This facility is projected to create over 1 lakh jobs with an anticipated investment of Rs 50,000 crore, according to the GR.

The Bharat Diamond Bourse in Mumbai, recognized as the world's largest diamond trading center covering 20 acres, currently provides livelihoods to approximately 60,000 individuals.

Additional policy initiatives include establishing dedicated design studios, plug-and-play facilities, and digital trade hubs, with special emphasis on skill development through partnerships with the Indian Institute of Gems and Jewellery and other educational institutions.

The policy offers special provisions including stamp duty exemption, electricity duty waiver for 10 years for units in designated parks and 100 percent export-oriented units, alongside power tariff subsidies ranging from Rs 1 to 2 per unit for a three-year period.

To ensure transparency and traceability across the value chain, the government will implement a blockchain-based industry ledger system in collaboration with the Bharat Web 3 Association and Gems and Jewellery Export Promotion Council.