The Gem and Jewellery Export Promotion Council’s development project the ‘India Jewellery Park Mumbai’ moved forward with the handover of a 43,026.5 square metre plot of land in the city by the Maharashtra Industrial Development Corporation.
“This is a crucial milestone for the IJPM project,” said GJEPC chairman Vipul Shah, the GJEPC reported on its website. “The acquisition of this land allows us to move forward with the construction phase and bring our vision of a world-class gems and jewellery hub to life.”
The land handover took place on February 22 and the IJPM’s honorary treasurer Sandeep Sharma received the plot of land from the MIDC’s head surveyor A E Shelke at a ceremony which was held at the Mahape Industrial Area. The land plot which was handed over is a portion of the total 86,053 square meters of land which has been allocated to the IJPM development. After the completion of legal formalities and the execution of the lease agreement, the legal title to the land will be transferred to IJPM.
The IJPM is designed to house all aspects of the jewellery industry to act as a one-stop destination for all sector stakeholders. This will include design studios, manufacturing units, and trading centres among others. The project is supported by the state government of Maharashtra and is expected to attract investments worth over Rs 50,000 crore.
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