Maha Cabinet approves Gems and Jewellery Policy-2025 to raise exports to $30 billion (Lead)

Mumbai, October 7 (IANS) The Maharashtra Cabinet chaired by Chief Minister Devendra Fadnavis, on Tuesday, approved the Gems and Jewellery Policy 2025, which aims to attract investments worth Rs 1 lakh crore and create five lakh new jobs.

The policy aims to increase exports from the sector from $15 billion to $30 billion.

The state Cabinet also gave nod for the Wastewater Treatment, Recycling Policy, which will be implemented in 424 urban local bodies across the state.

The Maharashtra Gems and Jewellery Policy will come into effect from 2025 to 2030.

A provision of Rs 1,651 crore will be made for the implementation of the policy as an incentive.

For the next 20 years, from 2031 to 2050, a total provision of Rs 13,835 crore has been approved.

A financial provision of Rs 100 crore has been made available for the implementation of the policy for the year 2025-26, the government statement said.

"The objective of the Gems and Jewellery Policy is to develop Maharashtra as a major hub of gems and jewellery industry at the global level by adopting advanced technology. It is based on a comprehensive policy framework. The aim is to strengthen this sector through infrastructure development, innovation and skill development and make Maharashtra a global leader in the production and export of gems and jewellery by promoting industrial clusters, encouraging research and development activities, and integrating digital trade solutions," the statement added.

According to the state government statement, the industry units covered under this policy will be provided with financial and other facilities and incentives, including interest subsidy, incentives for increased investment, stamp duty concessions, electricity tariff concessions, cluster development, employee provident fund contribution, skill development assistance, necessary facilities and incentives for exports, incentives for branding-designing-packaging-marketing, one-window scheme, plug and play facilities, uninterrupted power and water supply, and additional floor space index.

"The gems and jewellery sector is growing rapidly. There are huge opportunities in trade, design, technology and value-added exports in the state. The need for a policy was felt as the need to develop infrastructure and skills was necessitated by the rapid change in lab-grown diamonds, digital platforms, blockchain traceability and technology," the government statement said.

Meanwhile, the Wastewater Treatment, Recycling Policy aims to promote circular economy by processing and recycling wastewater in urban areas of the state.

The state Urban Development Department will act as the coordinator for the implementation of this policy, for which a provision of Rs 500 crore was approved for this department.

"There are 424 urban local bodies in the state, 48 per cent of the state's total population lives in urban areas. The demand for water in this area is increasing rapidly. At the same time, very little of the wastewater generated is being processed and reused. Sustainable management of wastewater and reuse of treated water are effective solutions to the growing demand for water. Emphasis will be placed on promoting the reuse of treated wastewater. Also, institutional building will be done keeping in mind the social and economic benefits of all these aspects. The responsibility of various mechanisms has been determined for this. This will encourage water processing and reuse," the government statement added.

According to the government statement, the policy will be applicable to all urban local bodies, large scale water users, enforcement agencies and citizens.

The main objective of this policy will be to promote the use of treated wastewater for non-potable purposes and promote the circular economy of water.

"Priority for the use of treated water will be for thermal power stations, industrial units, urban use and agricultural irrigation. For this, there will be a District Joint Control Committee under the chairmanship of the concerned District Collector/Municipal Commissioner. Also, at the state level, there will be a State Level High Level Steering Committee under the chairmanship of the Chief Secretary."

--IANS

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