National News
GJEPC welcomes Maharashtra’s landmark State GJ Policy 2025
In a landmark move, the Government of Maharashtra today announced the Maharashtra State Gem & Jewellery Policy 2025, becoming the first state in India to introduce a dedicated policy for the gem and jewellery sector. The policy aims to attract investments worth ₹1 lakh crore and create over 5 lakh new jobs, marking a major step towards transforming Maharashtra into a global hub for jewellery manufacturing, exports, and design.
GJEPC provided valuable inputs to ensure that the policy addresses the industry’s evolving needs — from manufacturing and infrastructure to skilling and export facilitation.The new policy will give a strong push to the entire ecosystem — from manufacturing and exports to skill development and employment generation. It is designed to promote ease of doing business, modernize manufacturing units, encourage innovation, and strengthen training and skilling infrastructure across the state.
Kirit Bhansali, Chairman, GJEPC, said: “We are deeply thankful to the Hon’ble Chief Minister, Shri Devendra Fadnavis, for his visionary leadership in announcing India’s first State Gem & Jewellery Policy. This landmark initiative will not only strengthen Maharashtra’s position as a leading jewellery manufacturing centre but also bring about a qualitative leap in areas such as skilling, technology upgradation, and value addition.With this policy, we foresee new opportunities for investment, innovation, and job creation — paving the way for Maharashtra to set new global benchmarks in the gems and jewellery sector.”
The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary- IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.
Some salient points made by the panelists:
- Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
- Till the banking system doesn’t collapse, gold price will continue to rise
- Jewellers were advised to use a mix of futures and options for risk mitigation
- Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
- Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.
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