Maharashtra eye on 1trillion economy with GJ Industry!

Gems & jewellery (GJ) industry belongs to Mumbai as Mumbai accounts for 72% of the annual USD 37 bn of exports, proclaimed Dr. Devendra Fadnavis, Hon. Dy. Chief Minister of Maharashtra, while inaugurating the largest-ever IIJS Signature & IGJME 2024 twin Exhibitions organised by the Gem & Jewellery Export Promotion Council (GJEPC) at the Bombay Exhibition Centre, NESCO Goregaon.

Dr. Devendra Fadnavis was accompanied by Uday Samant, Hon. Minister of Industries, Govt. of Maharashtra at the inauguration ceremony in the presence of Reshma Lakhani, Director General, DGEP; Paul Rowley, Executive Vice President, De Beers; Sunil Nayak, CEO, Reliance Jewels; Vipul Shah  Chairman, GJEPC; Kirit Bhansali, Vice Chairman, GJEPC; Nirav Bhansali (Convener, National Exhibitions, GJEPC); Sabyasachi Ray (ED, GJEPC), along with the doyens of international & Indian diamond, gem & jewellery sector.

While speaking at the IIJS Signature, Dr. Fadnavis said, Prime Minister Shri Narendra Modi ji has set a target of USD 75 bn for gem & jewellery exports by 2030. This will be possible with the pivotal role played by the apex body GJEPC, which has instrumental in making India one of the biggest international players in the global gems & jewellery industry.

Maharashtra Government has worked closely with GJEPC to complete the new Common Facility Centre (CFC) at SEEPZ in just 17 months and this will allow gem & jewellery exporters especially MSMEs to have hassle free shipment, paper work and facilitate ease of doing business.

Maharashtra Government and GJEPC have collaborated for the new India Gems & Jewellery Park at Navi Mumbai and this initiative will also help achieve export target. Jewellery Park will create new ecosystem in gems & jewellery industry wherein Maharashtra will preserve its status as ace exporter and set new records in gem & jewellery exports.

Indian jewellery has been part of the global trade since time memorial not is just economic but also an emotional investment. As India prospers and economy and industry expands, Maharashtra will continue to make new investments. Maharashtra Govt. is working tirelessly to help gem & jewellery entrepreneurs in key parameters such as ease of doing business and cost of doing business. As Maharashtra targets to become USD 1 trillion economy, we shall continue to collaborate with GJEPC to create unique institutions such as the Bharat Diamond Bourse, which symbolises unique ecosystem. And whenever GJEPC wishes to create any new ecosystem, the natural and first choice has to be Maharashtra.

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