Jaipur Gem and Jewellery Bourse receives land allotment approval from Rajasthan state government

The Rajasthan state government has granted approval of the allocation of a land package to the upcoming Jaipur Gem and Jewellery Bourse. The Rajasthan government has allocated around 44,000 square metres of land to the project. 

The upcoming Jaipur Gem and Jewellery Bourse is a joint collaboration between the Gem and Jewellery Export Promotion Council and the Jewellers Association Jaipur, the GJEPC reported on its website. The development aims to boost gem and jewellery exports from within the state and beyond as well as create employment opportunities and add to the local economy. 
 
“The Rajasthan government’s approval for the land allotment is a watershed moment for our gem and jewellery industry,” said the GJEPC’s chairman Vipul Shah, the GJEPC reported on its website. “This step will pave the way for a state-of-the-art trading platform that will attract global attention and fortify Jaipur’s position as a global gem and jewellery hub.”

The land will be granted to the Jaipur Gem and Jewellery Bourse’s Special Purpose Vehicle which will receive a 99-year land lease at a rate which is three times the industrial reserve rate. The state government believes that supporting this project will aid the gem and jewellery industry and create an environment where both trade and investment can flourish. The Jaipur Gem and Jewellery Bourse will create around 60,000 direct and indirect jobs, according to the GJEPC.