A proposal inviting Rs 40,000 crore ($5.6 billion) in investments to the state of Maharashtra was approved by the cabinet subcommittee on industries in that state. The creation of the India Gems and Jewellery Park in Mahape, Navi Mumbai, which has been designated a mega project, is one example of this.
It is anticipated to bring in an investment of Rs 20,000 crore ($2.8 billion) and generate employment opportunities for 1 lakh people in both direct and indirect ways.
One lakh people might potentially find work as a result of the project, which is projected to bring in an investment of 20,000 crore. The ability of some of the units to hold lab-grown diamonds will be one of the park’s key characteristics, according to an official from the industries department.
The India Gems and Jewellery Park is anticipated to boost the export of goods made of gems and jewellery.