Major concessions are given to the IJP by the Maharashtra government.

India Jewellery Park in Mahape, Navi Mumbai has been designated a big project by the Maharashtra government. IJP, which will be developed by the GJEPC, will span 21 acres and have 1354 units.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.

The Maharashtra government has given several incentives for IJP, including an FSI of 5, a remission of power duty, Rs. 1 in electricity subsidies for all units, and Rs. 2 for lab-grown diamond units.

Other benefits include a 5% interest subsidy for MSME term loans, a 5% interest subsidy for lease agreements, and a 50% GST remission for five years.

Thanking the Maharashtra government, Vipul Shah, Chairman, GJEPC said, “We applaud the Honourable CM and Honourable Deputy CM of Maharashtra for taking prompt, decisive steps to provide the IJP concessions that changed the game.It will encourage investment, produce jobs, and catapult the GJ sector to new heights.Together, let’s take advantage of this opportunity to create a path to wealth and success.”

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