The Government of Maharashtra has declared a stamp duty waiver for the initial lease and subsequent sub-leases associated with the India Jewellery Park, set to be established in Navi Mumbai’s Mahape.
This initiative, spearheaded by the Gem and Jewellery Export Promotion Council (GJEPC), aims to bolster investment in the local jewellery industry.
GJEPC chairman Vipul Shah expressed gratitude for the government’s support, stating that the waiver represents a significant step forward for the gem and jewellery sector. He noted that reducing financial burdens on businesses would encourage investments and promote sector growth.
According to the Maharashtra Government Gazette, the stamp duty waiver will apply to all eligible units within the park, which is anticipated to transform the jewellery manufacturing landscape.
Shah emphasized that the India Jewellery Park is expected to enhance innovation, production, and trade, ultimately boosting exports and creating jobs while positioning India as a leader in global craftsmanship.
