India Jewellery Park Mumbai construction gets underway this month: GJEPC

Mumbai, January 5, 2025: The first-of-its-kind India Jewellery Park Mumbai’s construction will commence this month, announced Vipul Shah, Chairman, Gem & Jewellery Export Promotion Council (GJEPC) during the inauguration of the 17th edition of India International Jewellery Show (IIJS) Signature gem & jewellery trade show at Bombay Exhibition Centre (BEC), NESCO, Goregaon East. Phase 1 of India Jewellery Park Mumbai, including the A1, A2, and A3 buildings spanning approximately 9 lakh square feet will be ready for procession by December 2026.

IIJS Signature's grand inauguration at Goregaon Mumbai, was graced by Chief Guest Ms Amruta Fadnavis (Banker, Singer & Social Worker) along with Guests of Honours R. Arulanandan Director, Dept. of Commerce, MoC&I; Deependra Singh Khuswaha (IAS), Development Commission (Industries), Government of Maharashtra; Suvankar Sen Executive Director Senco Gold & Diamonds; Vipul Shah, Chairman, GJEPC; Shri Kirit Bhansali, Vice Chairman, GJEPC; Nirav Bhansali, Convener, National Exhibitions, GJEPC; and Shri Sabyasachi Ray, Executive Director, GJEPC; and other dignitaries from the gem and jewellery industry.

Amruta Devendra Fadnavis (Banker, Singer and Social Worker), said, “India’s gem & jewellery business is now at the centre of the global trade and we in Maharashtra are committed to the growth of this indigenous industry. Several key steps have already been taken to give a boost to the gem & jewellery business, which can contribute significantly to helping realise Hon. Prime Minister Shri Narendra Modi ji’s dream of $5 trillion economy for India; and Hon. Chief Minister Shri Devendra Fadnavis ji’s $1 trillion economy dream for Maharashtra. I am very happy to note that GJEPC has initiated several programs for women empowerment and adopted sustainable environmentally friendly initiatives for the world-class IIJS exhibitions in Mumbai.”

Talking about exports Vipul Shah, Chairman, GJEPC added, “On the export front, we remain optimistic about 2025. With American President Donald Trump’s return to the White House, there is hope for renewed stability in the geopolitical landscape, revitalized trade, and stronger supply chains, driving global demand for gems and jewellery. However, GJEPC is continuously exploring new markets while strengthening its presence in existing ones.   In a significant milestone, GJEPC will be organizing its first exhibition in Saudi Arabia. The event will be held in the vibrant city of Jeddah from September 11 to 13, 2025. This will serve as a gateway to boost bilateral trade between India and the GCC region. Our gem and jewellery industry is highly equipped to meet the requirement of any market worldwide. With unparalleled capacity, advanced technology, skilled artisans, and talented designers, we are prepared to excel on the global stage. Together, we will contribute significantly to the Hon’ble Prime Minister's vision of a Viksit Bharat.”

R. Arulanandan (IAS), Director, Deptt of Commerce Ministry of Commerce & Industries, said, “The Ministry has been working closely with GJEPC to understand concerns of the trade. Year 2024 was a year of achievement and lot of industry issues resolved paving the way for unprecedented growth of the gem & jewellery sector. IIJS Signature is truly an international show and paves the way for a bright exponential growth.”

Deependra Singh Kushwaha (IAS) Development Commissioner Industries Government of Maharashtra, said, “The gem & jewellery industry is symbolic of India’s tremendous tradition of entrepreneurship in addition to being part of its culture and heritage. Maharashtra accounts for 47% of India’s total gem & jewellery exports and employs 3.5 lakh workers. Mumbai has iconic infrastructure such the Bharat Diamond Bourse, SEEPZ and the world's largest handmade jewellery hub in Zaveri Bazaar and Dagina Bazaar. With the upcoming India Jewellery Park in Navi Mumbai, 1 lakh people will get employment. With this Rs 50,000 crore investment in the Jewellery Park, Maharashtra will take centre-stage in India's gem & jewellery industry. The State is committed to training and skill development as Maharashtra stands at the cusp of transformation. We shall improvise policy, facilitate ease of doing business. The gem & jewellery business is not just an economic driver but an embodiment of creativity craftsmanship and aspiration.”

Suvankar Sen, CMD Senco Gold & Diamonds, said, “I have seen IIJS Signature show evolving and today it is a wonderful platform to innovate, think new and capture attention of domestic & international buyers. India’s gem & jewellery business has two strengths: the first of which is quality in design & aesthetics and smart-tech for jewellery manufacturing. The other key aspect of the growth of India’s gem & jewellery business is knowledge. GJEPC is taking several initiatives to share ideas and knowledge for the future.  Knowledge is important for the Gen Next and the youth to get employed in the gem & jewellery industry. The knowledge has to penetrate deeper so that India can become knowledge and skill hub of the global gem & jewellery trade.”  

Kirit Bhansali, Vice Chairman, GJEPC said, “As the first show of the calendar year, IIJS Signature holds great importance for our industry. It sets the tone, reflects the market sentiment, and provides valuable insights into what we can expect in the months ahead.”