GJEPC Inaugurates $2B Jewelry Complex
The Gem & Cheap Jewelry Websites
Export Promotion Council (GJEPC) has begun building a 21-acre
industrial jewelry park it believes will generate nearly $6 billion in
The India ********* Park in Mumbai will cost approximately INR 144.67
billion ($2 billion) to construct over the next few years, and will
employ about 100,000 workers when completed. The project will enhance
manufacturing, investment, export growth and the overall economic
development of the Maharashtra region and India as a whole, the GJEPC
said last week.
“We want to double our merchandise exports from $500 billion to $1
trillion, and the gem and jewelry business will have a significant role
to play in this endeavor,” said Suresh Prabhu, India’s minister of
commerce and industry and civil aviation.
The complex will include 2,400 units in varying sizes for different
businesses, as well as spaces catering to international representatives.
It will also feature on-site housing and a single development office
where businesses can receive all their necessary permissions.
There is also the potential to build Mumbai’s first gem and jewelry
university in the park, Maharashtra Chief Minister Devendra Fadnavis
added. India has been targeting several foreign countries, including
Russia, in an effort to bring outside investment to the project.