IBJA Jewellery & Knowledge Park to cost Rs 3,500 cr

The India Bullion & Jewellery Association Ltd (IBJA) proposed Jewellery & Knowledge Park near Mumbai is estimated to cost Rs 3,500 crore and is likely to be ready in seven years.
This would facilitate shifting manufacturing units of gems and jewellery segment to this state-of-the-art park that offers multiple modern facilities.
The location would be either Panvel or near Khopoli that would meet all the security requirements of the industry. Maharashtra Industrial Development Corporation (MIDC) is already looking at these options, IBJA president Mohit Kamboj said in a statement here.
"Jewellery and Knowledge Park estimated to cost Rs 3,500 crore will be located in an area measuring 500 acres which will have a dedicated zone for manufacturing and related activities on 300 acres," Kamboj said.

"Amenities and support activities including training institutes, research centre, exhibition and convention centre, residences, hostel, schools, hospitals among others will be set up on the balance 200 acres. The park will be developed in two phases - residential zone and manufacturing zone - and will take about seven years to complete," he said.
Maharashtra Chief Minister Devendra Fadnavis had earlier this week said, "Skill development is the focus of the state government. We are keen on taking a major step by joining the national programme of 'Make in India' and Maharashtra government's initiative of 'Make in Maharashtra'."

He assured the gems and jewellery industry of providing all help to boost the exports.

Fadnavis said gems and jewellery industry, which engages 35-40 lakh workforce, has employment potential of one crore if better opportunities and infrastructure are provided through the proposed smart city.
It will also help the country in increasing its share in value addition and upgrade workers skills, he said.
Kamboj said that with the help assured by the CM, the gems and jewellery industry -- the second largest export earner for the country with 13 per cent share in 2013-14 -- hopes to increase it further through value addition and upgrading workers' skills.