Navi Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Sunday announced that the India Jewellery Park project in Mahape, Navi Mumbai, is planned with an investment of approximately Rs 50,000 crore and is expected to generate one lakh jobs, ANI reported. Fadnavis, along with Deputy Chief Minister Eknath Shinde, attended the project's commencement ceremony.

Source: ANI, via Daily Prabhat

Speaking to reporters, Fadnavis said the project is being developed under the aegis of the Gem and Jewellery Export Promotion Council (GJEPC) and would be the country's largest and most modern facility of its kind. "An investment of approximately Rs 50,000 crore is planned, creating employment opportunities for 100,000 people," he said, according to ANI.

Source: ANI, via Daily Prabhat

Rs 50,000 crorePlanned investment — yaani Rs 500 billion
1 lakhJobs the project is expected to generate
58%Maharashtra's share of India's gems and jewellery exports, per the Chief Minister

The GJEPC said the commencement ceremony at Mahape marked the transition of the India Jewellery Park Mumbai from a long-cherished industry vision into the construction phase, bringing India's ambition to establish a world-class, integrated jewellery manufacturing hub a step closer. Industry reporting described the project as a 21.3-acre development.

Source: GJEPC, via Business of Jewellery

Fadnavis said Prime Minister Narendra Modi envisions India becoming a global leader in the gems and jewellery sector, and that Maharashtra, which he said contributes 58% of the country's total exports in the sector, expects to retain its leadership for the next 30 to 40 years with the park. The figures for investment and jobs are the project plan as announced at the ceremony, not completed outcomes.