Mumbai: A year after signing a (MoU) memorandum of understanding with the Maharashtra government, the gems and jewellery sector is set to get India’s first jewellery park in Navi Mumbai.
The India’s first jewellery park would be established on co-operative housing model basis, helpful about 4,800 large and small units around the entire jewellery value chain.
The Maharashtra government has allotted 21 acres of land to the park and has also guaranteed it will provide all possible help for its progress and smooth working. The jewellery industry is expecting a fund distribution from Maharashtra for workers’ good and for small business units in the jewellery sector.
“This jewellery park is different from the (BDB) Bharat Diamond Bourse. This park will offer half its space to small players in the value chain. Banks, Customs and other such agencies essential for business will be available here. For growth, however, this jewellery park will follow the BDB model,”
The unique feature of this park is that both domestic jewellery suppliers and exporters would be able to conduct their businesses under 1 roof. Most importantly, jewellery exporters would be able to take benefit of all the aids enjoyed by units in the export processing zones.
“In this huge jewellery park, all small and jewellers jewellers would be treated alike, being shareholder in the amazing project. Hence, even small shop owners would have a say in future,”.