(MENAFN- IANS) Mumbai, Oct 8 (IANS) The Gem and Jewellery Export Promotion Council (GJEPC) on Wednesday hailed Maharashtra's decision to approve the Gems and Jewellery Policy 2025, saying the move will give a strong push to the entire ecosystem - from manufacturing and exports to skill development and employment generation.

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.

“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,” said GJEPC chairman Kirit Bhansali.

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, according to a GJEPC statement.

The new policy“is designed to promote ease of doing business, modernize manufacturing units, encourage innovation, and strengthen training and skilling infrastructure across the state,” said the Council.

“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,” Bhansali noted.

The policy 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.

Meanwhile, India's overall gross exports of gems and jewellery recorded a 5.12 per cent growth to $2.12 billion (Rs 18,529.08 crore) in August this year compared to the corresponding figure of $2.01 billion (Rs. 16,896.04 crore) for the same period of the previous year, according to GJEPC data.

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