12 November,2025 11:16 PM IST | Mumbai | mid-day online correspondent
Major infrastructure initiatives include the India Jewellery Park in Mumbai. Representational Pic
The Maharashtra Government on Wednesday unveiled its Gems and Jewellery Policy 2025, aiming to attract investments worth Rs 1 lakh crore and create five lakh new jobs over the next five years, news agency PTI reported.
According to a government resolution (GR) issued by the industries department, the policy provides financial incentives worth Rs 1,651 crore for the 2025-30 period, with an additional Rs 12,184 crore set aside for 2031-2050, taking the total outlay to Rs 13,835 crore. The policy will remain in effect for five years or until a new plan is introduced.
For the 2025-26 financial year, the government has allocated Rs 100 crore under a dedicated budget head for implementation, reported PTI. Maharashtra currently contributes 18 per cent to India's overall gems and jewellery value addition, establishing it as a leading hub for the sector.
The policy seeks to double the state's exports and bring informal enterprises into the formal economy through regulatory support, financial aid, and access to organised markets.
Major infrastructure initiatives include the India Jewellery Park Mumbai, spread over 21 acres in Navi Mumbai's Mahape industrial area, expected to generate over one lakh jobs and attract investments of Rs 50,000 crore, PTI reported. The Bharat Diamond Bourse in Mumbai, the world's largest diamond trading hub, already employs around 60,000 people.
The plan also includes setting up design studios, plug-and-play manufacturing facilities, and digital trade hubs, with a strong emphasis on skill development in collaboration with the Indian Institute of Gems and Jewellery and other training bodies, reported PTI.
Additional benefits under the policy include stamp duty exemptions, a 10-year electricity duty waiver for units in jewellery parks and export-oriented units, and power tariff subsidies of Rs 1- Rs 2 per unit for three years.
To enhance transparency and traceability in the sector, the government will also establish a blockchain-based industry ledger in collaboration with the Bharat Web 3 Association and the Gems and Jewellery Export Promotion Council.
Maharashtra govt announces incentive scheme for sugar mills; to reward units for quality
The Maharashtra Government on Wednesday announced an incentive scheme for cooperative and private sugar mills aimed at building their financial capacity and encouraging quality performance.
Launched to mark the International Year of Cooperatives and the Diamond Jubilee of the cooperative sugar industry, the scheme seeks to reward the best-performing units on the quality front, news agency PTI reported.
According to a government resolution (GR), the plan aims to improve the quality of sugar mills and strengthen financial capacity by identifying and rewarding factories that meet competitive quality standards.
Under the scheme, sugar mills will be evaluated annually across nine key parameters, with prizes awarded to top performers. The evaluation criteria include: timely 100 per cent Fair and Remunerative Price (FRP) payment to farmers in the past three years (15 points); performance of other departments in the mill (10 points); highest sugar recovery rate (10 points); production per hectare (10 points); use of artificial intelligence and maximum area coverage (10 points); low carbon emissions and high carbon credits (10 points); timely repayment of government loans (10 points); cost efficiency, audit, and overall operational efficiency (5 points); and employee strength limits and wage payment (5 points), PTI reported.
The selection process involves a two-tier committee system. Regional joint directors will submit lists of six best mills - three each from the cooperative and private sectors - from their divisions to a scrutiny committee headed by the sugar commissioner. The committee will then shortlist six each cooperative and private mills, from which another panel headed by the state cooperation minister will select the final three winners in each category.
Details of prizes and other specifics will be announced later, the resolution stated.
(With PTI inputs)
