NAVI MUMBAI: State chief minister Devendra Fadnavis expressed that his vision is to make Maharashtra a "trillion dollar subnational economy'' by 2025 through various good investments in trade and commerce. He was speaking at the foundation stone laying ceremony of the first of its kind `India Jewellery Park' at Mhape , MIDC-TTC, in Navi Mumbai on Tuesday.

Union minister of commerce, industry and civil aviation, Suresh Prabhu , and state minister of industries and mining, Subhash Desai, were also present on the occasion.

Appreciating the plan to have a unique India Jewellery Park in a total area of 21 acres sanctioned for Gem & Jewellery Export Promotion Council ( GJEPC ), Fadnavis added that this will also generate over 1 lakh jobs in the business of gems and jewellery.

"Maharashtra already has the largest diamond bourse in the world, Bharat Diamond Bourse in Mumbai; and now I am happy that we will have the first of its kind India Jewellery Park in Maharashtra," stated Fadnavis, and added that he would also like to see the first ever `Gems and Jewellery University' to come up in Maharashtra in order to further educate and encourage the people to take to this growing trade and further boost the state's and country's economy.

In his address, the union minister Suresh Prabhu said: "The gems and jewellery sector has alone created over 50 lakh jobs in the country. Recently, I have myself met representatives of over 184 countries to promote our expertise in gems and jewellery."

The chairman of GJEPC, Pramod Kumar Agrawal, said that that total turnover in India Jewellery Park is expected to be over Rs 41,000 crore once it is completed. GJEPC is entrusted to construct the Park as a special purpose vehicle (SPV). The Park will have manufacturing units, commercial areas, residences for industrial workers, and commercial support services.

"The India Jewellery Park will be the best-in-class jewellery parks created in countries like China, Turkey, Italy and Thailand. India's gem and jewellery exports account for a staggering USD 40 billion and industry contributes 14% to India's total merchandise exports," added Agrawal.

The vice chairperson of GJEPC, Colin Shah, along with other members of the Council, were also present at the event.

GJEPC was set up by the ministry of commerce and industry, Government of India, in 1966 as the apex body of the gems and jewellery industry.

