The Maharashtra Cabinet, chaired by Chief Minister Devendra Fadnavis, approved the Maharashtra Gems and Jewellery Policy 2025 on Monday. The policy aims to attract ₹1 lakh crore in investment and create five lakh new employment opportunities across the state.
**Policy Duration and Objectives**
Effective from 2025 to 2030, the policy seeks to double Maharashtra’s exports in the gems and jewellery sector from USD 15 billion to USD 30 billion. It intends to establish the state as a global hub for gems and jewellery manufacturing and trade.
**Major Financial Outlay and Incentives**
To ensure successful implementation, the government has allocated a budgetary provision of ₹1,651 crore for incentives under the policy. Additionally, an estimated ₹12,184 crore is earmarked for the period between 2031 and 2050, bringing the total outlay to ₹13,835 crore. For the fiscal year 2025–26, an initial allocation of ₹100 crore has been approved to kick-start the initiative.
**Boosting Global Competitiveness**
The policy aims to position Maharashtra at the forefront of the global gems and jewellery industry by promoting advanced technology, innovation, skill development, and infrastructure growth. Plans include the development of industrial clusters, support for research and development initiatives, and integration of digital trade solutions to strengthen competitiveness in the international market.
**Comprehensive Benefits for Industries**
Industries covered under the policy will enjoy a range of financial and non-financial incentives, including:
– Interest subsidies and investment incentives
– Stamp duty and electricity duty concessions
– Rebates on power tariffs
– Assistance for cluster development and employee provident fund contributions
– Skill development support
– Export facilitation, branding, and marketing assistance
– Single-window clearance and plug-and-play facilities
– Uninterrupted water and power supply
– Additional Floor Space Index (FSI) benefits
**Focus on Innovation and Emerging Technologies**
With rapid advancements such as lab-grown diamonds, blockchain-based traceability, and digital trading platforms, the policy emphasizes upgrading infrastructure and skill sets to meet global standards. Maharashtra aims to leverage innovations in design, technology, and value-added exports to emerge as the preferred destination for domestic and international investors in the gems and jewellery sector.
The Maharashtra Gems and Jewellery Policy 2025 is set to transform the industry landscape, driving growth and making the state a global leader in this vibrant sector.
https://www.freepressjournal.in/mumbai/maharashtra-approves-gems-and-jewellery-policy-2025-to-attract-1-lakh-crore-investment-create-5-lakh-jobs
