Navi Mumbai to house India’s first gem, jewellery park

Maharashtra and the Gems and Jewellery Export Promotion Council have signed an MoU at the ongoing Magnetic Maharashtra summit to develop a 25-acre gems and jewellery park at a cost of Rs.13,500 crore.

This will be India’s first gems and jewellery park, which will be developed on the lines of the Shenzhen model in China.

The park, likely to come up in Ghansoli, is intended to house nearly 4,500 units and will employ 90,000-1 lakh people. The government also plans to provide housing to craftsmen on the premises. However, artisans and craftsmen have questioned the viability of the plan.

Mumbai already has a diamond bourse in BKC and several traders over the years have moved there from their south Mumbai units.

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