Maharashtra’s Gems & Jewellery Policy 2025–2030: Eligibility, Benefits & Incentives

Maharashtra has introduced one of the most attractive industrial policies for the Gems & Jewellery (G&J) sector for the period 2025–2030. With a mission to attract ₹1 lakh crore of investment, create five lakh new jobs, and double exports from USD $15 billion to $30 billion, the state aims to position itself as a global manufacturing and export hub for gems, jewellery, diamonds, and related industries.

Why This Policy Matters for Manufacturers

For any company planning to set up or expand a jewellery unit, this policy can reduce project cost by 40%–50% through a combination of:

• SGST refunds

• Interest subsidies

• Stamp duty exemption

• Power subsidy

• Electricity duty waiver

• FSI incentives

• EPF reimbursement

If structured correctly, these incentives can significantly improve profitability, cash flow, and long-term sustainability.

Crafting the future: Maharashtra's Gems & Jewellery Policy 2025–2030 aims to transform the state into a global hub by fostering substantial investments, job creation, and export growth in the sector.

Key Objectives & Investment Outlay

The policy is valid from 2025 to 2030 and allocates:

• ₹1,651 crore in incentives during the policy period

• ₹12,184 crore planned for clusters & sector growth between 2031–2050

Primary goals include:

• ₹1 lakh crore of new industrial investment

• 500,000 new jobs

• World-class manufacturing ecosystem

• Technological upgradation of traditional G&J units

• Boosting export infrastructure and logistics

Industries Covered Under the Policy

Eligible activities include:

• Cut & polished diamonds (natural + lab-grown)

• Gold, silver, platinum jewellery – plain or studded

• Polished gemstones & synthetic stones

• Imitation/costume jewellery manufacturing

• Casting, cutting, polishing, finishing, design units

• Digital jewellery design studios / tech-enabled units

Both MSMEs and large enterprises are eligible (Udyam for MSMEs, IEM for larger units).

Who Should Apply?

This policy is ideal for:

• New jewellery factories (greenfield projects)

• Units planning capacity expansion

• Exporters looking for SEZ/EOU benefits

• Diamond processors shifting from Gujarat/Surat

• Labour-intensive jewellery MSMEs

• Tech-based design and CAD/CAM units

• Large groups planning integrated G&J parks

Financial Planning for Growth: Exploring the Incentives and Support in Maharashtra's Gems & Jewellery Policy 2025–2030.

Major Incentives & Financial Support

1. 100% SGST Refund (Up to 10 Years)0

Refund of SGST paid on first point of sale within Maharashtra, significantly enhancing cash flows.

2. 5% Interest Subsidy on Term Loans

Available for 5 years

1. For loans used for plant & machinery

2. Helps reduce financing cost and improves ROI 200% Floor Space Index (FSI) Benefit

3. MMR & Pune: 200% FSI at 50% premium

4. Rest of Maharashtra: 200% FSI at zero premium

This drastically reduces land and construction cost—especially for flatted factories.

3. 100% Stamp Duty & Registration Fee Waiver

Applicable for:

1. Purchase/lease of industrial land

2. Registration of units in notified jewellery parks

3. Mortgage & loan documents related to project finance

A direct saving of 6%–7% of project cost.

4. Power Tariff Subsidy & Electricity Duty Waiver

   1. ₹1–₹2 per unit subsidy for 3 years

   2. 10-year electricity duty exemption for parks and EOUs

5. Employment Incentive (EPF Reimbursement)

   1. 50% reimbursement of employer EPF

   2. Up to 200 employees per unit

   3. Employee retention of minimum 3 years required

6. Cluster & Infrastructure Support

State support includes:

1. Plug-and-play jewellery parks

2. Common Facility Centres (CFCs)

3. Logistics connectivity (airports, ports, DMIC)

4. Faster clearances and single-window support

7. Marketing, Branding & Skill Development Support

   1. Support for trade fairs & international exhibitions

   2. Branding & packaging assistance

   3. CAD/CAM design studios

   4. Training in partnership with IIGJ and other institutes

Intricately designed gold rings on display, symbolizing Maharashtra's ambitious Gems & Jewellery Policy 2025–2030, which aims to attract significant investment and transform the state into a global hub for the industry.

How Much Can a Manufacturing Unit Save?

If a company invests ₹10 crore in a jewellery factory:

Benefit	Approx. Amount
SGST refund (10 years)	₹2.5–3 crores
Interest subsidy (5 years @5%)	₹1–1.5 crores
Stamp duty waiver	₹20–40 lakhs
Electricity duty exemption (10 years)	₹10–25 lakhs
Power tariff subsidy	₹5–10 lakhs
FSI benefit	15–25% lower project cost

Total benefit: ₹4–5 crores (40%–50% of project cost recoverable)

This clearly shows why investors and manufacturers should plan their projects now.

Eligibility & Application Process

Basic Requirements

• Udyam/IEM registration

• New project or expansion between 2025–2030

• Land/lease in Maharashtra

• Clear CAPEX plan

Application Steps

• Select eligible sector & classify project

• Choose location (Park/Cluster/SEZ/Non-cluster)

• Submit application via single-window

• Obtain approval

• Complete land/lease & building permissions

• Start operations

• File claims for SGST, power subsidy, interest subsidy, EPF, etc.

Common Mistakes Industries Make

• Starting construction before approval

• Wrong classification (cluster vs non-cluster)

• Not structuring CAPEX correctly

• Delaying Udyam/IEM registration

• Not keeping separate project accounts

• Missing claim submission deadlines

These mistakes often result in loss of incentives worth 20%–30%.

Why Expert Support Matters

Eligibility depends on:

• Project timing

• Location

• Type of unit

• Correct structuring of CAPEX

• Correct documentation

Missing even one document or approval can reduce incentive value drastically.

Conclusion

Maharashtra’s Gems & Jewellery Policy 2025–2030 is a rare opportunity for new investors, established manufacturers, exporters and MSMEs. With strong financial incentives, world-class infrastructure and supportive policy design, this is the right time to plan or expand a jewellery project in the state.

If you need guidance on project planning, eligibility, or incentive applications, DP Jadhav & Co can help. Reach out to us at contact@dpjadhav.com for personalised advice on leveraging this scheme for your business.