Maharashtra launches Gems and Jewellery Policy with Rs 13,835 crore outlay

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 reportedAccording to a government resolution GR issued by the industries department the policy provides financial incentives worth Rs 1651 crore for the 2025ndash30 period with an additional Rs 12184 crore set aside for 2031ndash2050 taking the total outlay to Rs 13835 crore The policy will remain in effect for five years or until a new plan is introducedFor the 2025ndash26 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 Indiarsquos overall gems and jewellery value addition establishing it as a leading hub for the sectorThe policy seeks to double the statersquos exports and bring informal enterprises into the formal economy through regulatory support financial aid and access to organised marketsMajor infrastructure initiatives include the India Jewellery Park Mumbai spread over 21 acres in Navi Mumbairsquos Mahape industrial area expected to generate over one lakh jobs and attract investments of Rs 50000 crore PTI reported The Bharat Diamond Bourse in Mumbai the worldrsquos largest diamond trading hub already employs around 60000 peopleThe plan also includes setting up design studios plugandplay 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 PTIAdditional benefits under the policy include stamp duty exemptions a 10year electricity duty waiver for units in jewellery parks and exportoriented units and power tariff subsidies of Rs 1ndash Rs 2 per unit for three yearsTo enhance transparency and traceability in the sector the government will also establish a blockchainbased industry ledger in collaboration with the Bharat Web 3 Association and the Gems and Jewellery Export Promotion CouncilMaharashtra govt announces incentive scheme for sugar mills to reward units for qualityThe Maharashtra Government on Wednesday announced an incentive scheme for cooperative and private sugar mills aimed at building their financial capacity and encouraging quality performanceLaunched to mark the International Year of Cooperatives and the Diamond Jubilee of the cooperative sugar industry the scheme seeks to reward the bestperforming units on the quality front news agency PTI reportedAccording 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 standardsUnder 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 reportedThe selection process involves a twotier committee system Regional joint directors will submit lists of six best mills mdash three each from the cooperative and private sectors mdash 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 categoryDetails of prizes and other specifics will be announced later the resolution statedWith PTI inputs