The Gems and Jewelry industry remains one of India’s strongest economic pillars, contributing 7% to the nation’s GDPand 15.71% to total merchandise exports, making it the 3rd largest export commodity. In 2024, India ranked as the 8th largest exporter globally with 3.2% of world exports, and the western region alone accounted for 74.66% of India’s gems and jewelry exports.

Maharashtra is now gearing up for accelerated growth. The state’s contribution to India’s Gross Value Added (GVA) in this sector is expected to rise from USD 4 billion in 2022 to USD 6 billion by 2028, with Maharashtra’s share projected to grow to USD 2 billion, increasing at 15% annually. Out of this, USD 1 billion is expected purely from exports. Maharashtra already accounts for 18% of India’s total sectoral GVA, reinforcing its dominance.

The state is home to 7,000+ MSMEs and major initiatives such as the Mega Common Facility Centre (CFC) and the Gold Jewelry Cluster in Nanded, which strengthen infrastructure, skilling, and manufacturing capabilities.

Mumbai continues to remain the sector’s crown jewel; home to the Bharat Diamond Bourse (BDB), the world’s largest diamond hub, and the iconic Zaveri Bazaar with over 10,000 units of handcrafted jewelry. Modern manufacturing excellence is anchored by SEEPZ, a 111-acre hub specialising in machine-made jewelry and contributing over 30% of India’s jewelry exports. With global trade shows like IIJS, Mumbai remains at the forefront of international jewelry commerce.

A. Policy Vision

The Maharashtra Gems & Jewellery Policy 2025 aims to position the state as a global leader by blending advanced technology with traditional craftsmanship. The vision emphasizes innovation, sustainability, skilling, and investment, enabling Maharashtra to emerge as a future-ready hub for manufacturing, exports, design, and trade.

B. Policy Objectives

• Attract ₹1,00,000 Crore in investments through improved infrastructure

• Generate 5,00,000 new jobs by boosting entrepreneurship and targeted training

• Double Maharashtra’s Gems & Jewelry exports

• Support formalization of informal enterprises through incentives, regulatory help, and improved access to formal markets

C. Policy Validity

The policy remains active for 5 years from approval or until replaced.

D. Eligibility

Eligible beneficiaries include Proprietorships, Partnerships, LLPs, Companies, Cooperatives, Trusts, AIFs, JVs, PPP projects, and consortiums developing various park categories.

Units with valid Udyam Registration or Industrial Entrepreneur’s Memorandum (IEM) in:

• Jewelry manufacturing

• Gem cutting & polishing

• Packaging & production

Applicable segments:

• Cut & polished diamonds

• Lab-grown diamonds

• Gold, silver, platinum jewelry

• Polished colored gemstones

• Synthetic gemstones

• Imitation jewelry

E. Execution Pillars

The policy is structured around eight core pillars designed to enhance competitiveness, strengthen infrastructure, encourage innovation, and support industry growth:

1. Infrastructure & Facilities Development

2. R&D and Innovation Support

3. Skill Development & Capacity Building

4. Export Promotion

5. Ease of Doing Business

6. Fiscal & Non-Fiscal Incentives

7. Convergence with Central & State Schemes

8. Institutional Framework for Implementation

1. Infrastructure & Facilities Development

Maharashtra aims to build modern, globally competitive ecosystems through:

1.1 India Jewellery Park Mumbai (IJPM), Navi Mumbai

• 21-acre world-class jewelry park

• Backed by the Government of Maharashtra + GJEPC

• Includes Customs office, ETP, centralized vaulting, logistics, refineries, machinery, security systems

• Expected investment: ₹50,000 Crore

• Job generation: 1,00,000+

• Supports MSMEs & large manufacturers

1.2 Bharat Diamond Bourse (BDB), Mumbai

• World’s largest diamond trading hub (20 acres, 2 million sq ft)

• 2,500 offices across 9 interconnected towers

• Employs ~60,000 people

• Includes IDTC, KP certification (20,000 certificates annually), 4 vaults, 24,500 lockers, and 3,500 CCTV cameras

1.3 SEEPZ, Mumbai

• 111-acre SEZ with 400+ units

• 170+ units dedicated to gems & jewelry export

• Backbone of machine-made jewelry

• Contributes 30% of India’s jewelry exports

• Advanced infrastructure, fiscal incentives, duty-free imports

BDB + SEEPZ together form one of the world’s strongest integrated jewelry ecosystems.

New Initiatives for Global Competitiveness

To stay ahead globally, Maharashtra proposes:

• Carbon-neutral transformation of BDB & SEEPZ

• Adoption of AI, blockchain, IoT, and smart manufacturing

• Programs supporting women artisans & professionals

• Inclusion of lab-grown diamonds, 3D printing, prototyping

• Stronger global market access

• In-house R&D, training, and innovation centres

• Allowing FSI up to 4 for IJPM

1.4 Cluster Development

New clusters planned in:

• Navi Mumbai

• Nashik

• Nagpur

• Chhatrapati Sambhaji Nagar

• Kolhapur-Sangli

• Amravati

Key facilities:

• Common Facility Centres (CFCs)

• Design studios for artisans & designers

• Support for MSMEs and women-led enterprises

1.5 Plug-and-Play Facilities

Ready-to-use flatted galas for MSMEs and startups, with:

• Flexible rentals

• Reduced entry barriers

• Additional 200% FSI in certain zones

1.6 Digital Trade Hubs

For connecting artisans and MSMEs directly with Indian and global buyers.

1.7 Local Sourcing Centres

Ensuring affordable, direct access to precious metals and gemstones.

1.8 Warehouse Facilities

High-security, climate-controlled storage across clusters and transit points.

1.9 Last-Mile Connectivity

Improved road networks, cluster-to-port connectivity, and faster logistics.

2. Enhance R&D Initiatives

2.1 Material Science & Sustainable Innovation

Focus areas:

• Natural & lab-grown diamond research

• AI-driven grading, precision cutting

• Blockchain for transparency

• Ethical & recycled precious metals

• Pearl research and sustainable inland cultivation

2.2 Technology-Driven Manufacturing

Research in:

• Biodegradable materials

• 3D printing

• CAD modelling

• AR-enabled smart jewellery

• Heritage gemstone innovation

Key Incentives under the new policy

Main Financial Incentive (Choose One)

1. IPS: 100% SGST reimbursement for 10 years

2. Capital Subsidy: 20-25% of FCI (₹10-50 Cr cap based on category)

3. EOU Incentives: 1-2% of annual turnover (₹10-20 Cr cap)

Additional Benefits

• Interest Subsidy: 5% p.a. for 5 years (₹5-10 Cr cap)

• Stamp Duty: 100% exemption in parks/clusters

• Electricity Duty: 100% exemption for 10 years (parks/SEZ/100% EOU)

• Power Tariff Subsidy: ₹1-2/kWh for 3 years (zone-wise)

• Cluster Development: 75% grant up to ₹10 Cr/cluster (20 clusters max)

• EPF Reimbursement: 50% for 3 years (200 employees or 50% workforce)

Skill & Development

• Training Subsidy: 50% up to ₹1 Lakh/candidate (500 candidates, GIA/Gübelin courses)

• In-house Training: 20% reimbursement up to ₹20,000/candidate (300 candidates)

• Design Studios: ₹10 Lakh or 50% for CAD software (36 studios)

• Testing Labs: 50% subsidy up to ₹50 Lakh/lab (5 labs)

Marketing & Promotion

• Trade Fairs: 50% subsidy (Domestic: ₹1 Lakh, International: ₹3 Lakh per unit)

• Association Events: ₹5 Lakh annually for participation; ₹10-20 Lakh for hosting

• Branding: 50% up to ₹5 Lakh (100 companies/year, ≤100 employees)

Green & Other

• Green Energy: 25% reimbursement up to ₹50 Lakh

• Incremental Investment: Incentives on 25%+ FCI/capacity/employment increase

Special Category (Additional 5% Capital Subsidy)

• Women/SC/ST/PwD-owned units with 50%+ respective workforce

• Units with 25%+ PwD employees (plus 100% skill training reimbursement up to ₹50,000/employee)

Max Total Incentive: 120% of FCI

NON-FISCAL INCENTIVES

• MAITRI: Single-window clearance system

• 24×7 Operations: Permitted with safety compliance

• Pre-approved Clearances: For MSMEs in plug-and-play facilities

• Continuous Power & Water: 24×7 supply, exemption from power cuts

• Open Access Power: Available

• Additional FSI: For Gems & Jewellery Parks

• Anchor Units: 100 Mega/Ultra-Mega units get priority land, fast clearances, custom packages

Why This News Matters

This policy marks one of the most significant government interventions for the gems and jewelry industry in India’s recent history. Maharashtra is not just expanding infrastructure — it is building a future-ready, innovation-driven ecosystem that can compete globally, attract FDI, support MSMEs, boost exports, and strengthen India’s position in the global value chain.

How It Benefits Our Students & Alumni

With the government investing heavily in clusters, skilling, R&D, and technology integration, demand for trained professionals — gemologists, CAD designers, diamond graders, jewelry technologists, valuers, and entrepreneurs — is set to rise sharply.
Students entering the industry will step into a phase of unprecedented opportunities, growth, and global exposure.