JB Insights

Maharashtra’s landmark Gem & Jewellery Policy 2025 — aims to attract investments worth ₹1 lakh crore and create over 5 lakh new jobs

Published

6 months ago

November 27, 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 Rs.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.

The Gem & Jewellery Export Promotion Council (GJEPC), has been actively working with the Department of Industries, Government of Maharashtra, for the past one and a half years on developing this policy framework. Through several consultations and stakeholder meetings, GJEPC provided valuable inputs to ensure that the policy addresses the industry’s evolving needs — from manufacturing and infrastructure to skilling and export facilitation.

Ambitious Financial Goals:

Rs.1 lakh crore investment target
5 lakh+ new jobs expected
Focus on transforming Maharashtra into a global manufacturing and export hub

These numbers suggest a transformative vision rather than incremental growth, indicating the government’s commitment to making this a flagship industrial initiative.

Policy Framework Strengths

Collaborative Development Process: The 18-month consultation period with GJEPC demonstrates a stakeholder-driven approach, which typically leads to more implementable policies that address real industry pain points.
Comprehensive Ecosystem Approach: The policy addresses multiple dimensions:
- Manufacturing infrastructure
- Export facilitation
- Skill development and training
- Technology upgradation
- Innovation and design
- Ease of doing business reforms
Value Chain Coverage: From raw material processing to finished goods, design, and exports—suggesting a holistic industry development strategy.

Skill Development Infrastructure:

Partnership with ITIs and design institutes
Certification programs aligned with international standards
Bridging the gap between traditional craftsmanship and modern technology

Export Competitiveness:

Logistics and connectivity to ports (Mumbai advantage)
Compliance support for international quality standards
Trade finance and working capital facilitation

Technology Adoption:

Support for CAD/CAM technology
3D printing and digital design capabilities
Lab-grown diamond manufacturing (emerging segment)

Economic Impact Potential

Direct Benefits:

Employment generation across skill levels (artisans to designers)
Export revenue growth
Ancillary industry development (packaging, logistics, security)

Indirect Benefits:

Tourism linkage (jewellery retail and exhibition hubs)
MSME ecosystem growth
Financial services demand

Expressing his gratitude to the state leadership, 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.”

“I would also like to express my sincere gratitude to Shri Uday Samant, Hon’ble Minister for Industries, Government of Maharashtra, for his proactive guidance and steadfast support in driving this landmark policy.”

The Maharashtra State Gem & Jewellery Policy 2025 is expected to enhance the competitiveness of the industry, attract domestic and international investors, and further cement Maharashtra’s role as the heart of India’s jewellery economy.

Related Topics:2025 jb insights jbinsights jewelbuzz Jewelbuzz Magazine special Report

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India’s ₹361 Lakh Crore Gold Reserve Lies Idle; PM Modi Calls For Recycling To Cut Imports

With An Estimated 32,000 Tonnes Of Gold Sitting Unused In Homes and Temples, The Government Sees A Massive Opportunity To Reduce Imports, Strengthen The Economy, and Build A More Sustainable Gold Ecosystem.

Published

4 days ago

June 3, 2026

JewelBuzz Spread The Buzz

India is sitting on one of the world’s largest untapped gold reserves, with 30,000–32,000 tonnes of gold held by households and temple trusts across the country. Valued at nearly $3.8 trillion (around Rs. 361 lakh crore), much of this gold remains locked away in cupboards, lockers, and vaults, generating little economic value.

Highlighting the importance of this dormant asset, Prime Minister Narendra Modi recently encouraged citizens to consider recycling idle gold rather than relying solely on newly imported supplies. The initiative aims to bring existing gold back into circulation and make better use of resources already available within the country.

The appeal comes at a time when India continues to depend heavily on imported gold to meet domestic demand. During 2025-26, the country spent approximately $72.4 billion (Rs. 6.88 lakh crore) on gold imports, making the precious metal one of the largest contributors to the import bill.

According to experts, increasing gold recycling could deliver significant economic benefits. Every gram of recycled gold reduces the need for an equivalent amount of imports, helping ease pressure on foreign exchange reserves while also supporting efforts to narrow the country’s current account deficit.

Even a small shift could have a substantial impact. Industry estimates suggest that if just 1% of the gold held by households and temples is recycled each year, India’s gold imports could decline by approximately 25% to 30%.

The vast stockpile of idle gold is rooted in India’s longstanding cultural and financial relationship with the metal. For generations, gold has served as a store of wealth, a safeguard during emergencies, and a symbol of family security and prosperity. As a result, many families continue to hold jewellery that is rarely used but seldom sold.

Viewed from a broader perspective, the government sees this dormant gold stock as a valuable domestic resource. Bringing a greater share of it into the formal economy could help reduce dependence on imports, enhance economic stability, and create a more sustainable gold supply chain for the future.