Maharashtra Government announces stamp duty waiver for India Jewellery Park in Navi Mumbai

The Government of Maharashtra has announced a stamp duty waiver for the first lease of land and subsequent sub-leases for the upcoming India Jewellery Park. Located in Navi Mumbai’s Mahape, the initiative is a project by the Gem and Jewellery Export Promotion Council.

“We are immensely grateful to the Government of Maharashtra for their support in waiving stamp duty for the India Jewellery Park in Navi Mumbai,” said GJEPC chairman Vipul Shah, the GJEPC reported on its website. “This significant initiative marks a major milestone in the development of the gem and jewellery industry. By easing the financial burden on businesses, the stamp duty waiver will not only encourage investments but also accelerate the growth of this sector.”
 
The decision was shared by the Maharashtra Government Gazette and is designed to encourage investment in the jewellery industry in the state. The stamp duty waiver applies to all eligible units within the India Jewellery Park and the GJEPC is confident that the move will bring in new investments to the sector.
 
“The India Jewellery Park is set to transform the jewellery manufacturing landscape,” said Shah. “It will create a state-of-the-art hub for innovation, production, and trade, significantly boosting exports, creating jobs, and attracting global attention to India’s craftsmanship. With this support from the government, the park will play a pivotal role in achieving our goal of making India a world leader in the gem and jewellery industry.”