Maharashtra will have 20% participation in the five trillion economy

Mumbai: IIJS Signature, the premium jewelery show of IIJS, the country’s largest and world’s second largest business-tobusiness jewelery show, started on Friday at the Bombay Exhibition Center in Goregaon. Maharashtra Deputy CM Devendra Fadnavis cut the ribbon to inaugurate the IIJS Signature Jewelery Show in Goregaon. Addressing the inaugural function of the show organized on this occasion, Fadnavis said that India has set a target of reaching the level of 5 trillion dollar economy, and Maharashtra’s contribution will be 20 percent, that is, the size of Maharashtra’s economy will be one trillion dollars by this occasion. He also offered all possible govt help from the state govt for the development and expansion of jewelery industry.

Referring to the jewelery business in the economy, Fadnavis said that Mumbai’s share in the total gems and jewelery exports from the country is 75 percent, which will further increase with the new Gem and Jewelery Park being built here. Referring to the increasing participation of lab grown diamonds in the gems and jewelery business and India’s increasing influence in it, he said that the Maharashtra govt is determined to help the industries in the state. Discussing the difference between ease of doing business and cost of doing business, he said that these two are different things and with the help of the state government, business will increase further in the state.

Addressing the program, Maharashtra Industries Minister Uday Samant promised all possible help to the jewelery industry and said that development in this industry will create more employment opportunities in the state, which will increase the scope of development. Vipul Shah, Chairman, Gems and Jewelery Export Promotion Council, organizer of IIJS Signature, said that this is the 16th edition of IIJS Signature in the series of jewelery shows organized in the premium category. He believes that the new Gem and Jewelery Park to be built with the help of the state govt will prove to be a milestone for this industry in the country. In this park, all types of services and facilities related to the jewelery industry will be available at one place and all areas of the country will be present here, hence whoever comes to this park will not need to go anywhere else in the country. This ambitious project of GJEPC will start in the month of April and the target has been set to complete this project in 32 months. The event was also addressed by Guest of Honor Paul Rowley, Executive Vice President, D-Beers and Sunil Nayak, Chief Executive Officer, Reliance Jewels.