The Maharashtra state cabinet has approved a comprehensive policy for the gems and jewellery sector, allocating ₹13,835 crore over 25 years, from 2025 to 2050. The policy aims to position Maharashtra as a global hub for the industry by providing various incentives and support measures.
In a strategic move to position Maharashtra as a global hub for the gems and jewellery industry, the state Cabinet has approved the Maharashtra Gem and Jewellery Policy 2025. The policy aims to attract investments worth ₹1 lakh crore and generate employment opportunities for five lakh youth across the state. It is designed to establish Maharashtra as a global hub for the industry by providing various incentives and support measures.
The policy’s initial phase will cover 2025 to 2030, with a financial allocation of ₹1,651 crore to support its implementation. For the subsequent 20 years, from 2031 to 2050, the government has approved a total provision of ₹13,835 crore, which includes approximately ₹12,184 crore earmarked for long-term incentives. For the first fiscal year of 2025–26, a specific fund of ₹100 crore has been set aside.
Under this policy, industrial units operating in the gems and jewellery sector will receive a comprehensive package of financial and non-financial incentives. These include-
The industrial units will also benefit from facilities promoting exports, branding, design, packaging, marketing support, one-window clearances, plug-and-play infrastructure, uninterrupted power and water supply, and additional carpet index benefits.
The policy has been welcomed by the Gem and Jewellery Export Promotion Council (GJEPC).
Mr Kirit Bhansali, GJEPC Chairperson, stated that the initiative will provide a significant boost to the sector’s ecosystem—from manufacturing and exports to skill development and employment creation. He highlighted that the policy is designed to facilitate ease of doing business, modernize manufacturing units, foster innovation, and strengthen training and skilling infrastructure across Maharashtra, positioning the state as a globally competitive destination for the industry.
In July 2025, India’s merchandise exports grew by 7.29% year-on-year, reaching US$37.24 billion, while gems and jewellery (G&J) exports surged by 29.19% to US$2.39 billion. However, during the April–July 2025 period, overall merchandise exports increased by 3.07% to US$149.20 billion, whereas G&J exports declined slightly by 0.77% year-on-year, totaling US$9.05 billion.
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