Editor’s Note
This article outlines the Maharashtra Government’s newly announced Gems and Jewellery Policy 2025. The policy sets ambitious targets for investment and job creation, backed by significant long-term financial incentives.
The Maharashtra Government on Wednesday unveiled its Gems and Jewellery Policy 2025, aiming to attract investments worth Rs 1 lakh crore and create five lakh new jobs over the next five years, news agency PTI reported.
According to a government resolution (GR) issued by the industries department, the policy provides financial incentives worth Rs 1,651 crore for the 2025–30 period, with an additional Rs 12,184 crore set aside for 2031–2050, taking the total outlay to Rs 13,835 crore. The policy will remain in effect for five years or until a new plan is introduced.
For the 2025–26 financial year, the government has allocated Rs 100 crore under a dedicated budget head for implementation, reported PTI.
Maharashtra currently contributes 18 per cent to India’s overall gems and jewellery value addition, establishing it as a leading hub for the sector.
The policy seeks to double the state’s exports and bring informal enterprises into the formal economy through regulatory support, financial aid, and access to organised markets.
Major infrastructure initiatives include the India Jewellery Park in Mumbai, spread over 21 acres in Navi Mumbai’s Mahape industrial area, expected to generate over one lakh jobs and attract investments of Rs 50,000 crore, PTI reported. The Bharat Diamond Bourse in Mumbai, the world’s largest diamond trading hub, already employs around 60,000 people.
The plan also includes setting up design studios, plug-and-play manufacturing facilities, and digital trade hubs, with a strong emphasis on skill development in collaboration with the Indian Institute of Gems and Jewellery and other training bodies, reported PTI.
Additional benefits under the policy include stamp duty exemptions, a 10-year electricity duty waiver for units in jewellery parks and export-oriented units, and power tariff subsidies of Rs 1– Rs 2 per unit for three years.
To enhance transparency and traceability in the sector, the government will also establish a blockchain-based industry ledger in collaboration with the Bharat Web 3 Association and the Gems and Jewellery Export Promotion Council.
