Maharashtra's Bold Move: Stamp Duty Waiver for India Jewellery Park

The Maharashtra government has waived stamp duty on leases within India Jewellery Park, aiming to boost investments, growth, and jobs in the jewellery sector. This decision, as per the government Gazette, is expected to transform the region into a major hub for jewellery innovation, production, and export.

On Friday, jewellery exporters praised the Maharashtra government's resolution to waive stamp duty on leases in India Jewellery Park, Navi Mumbai. The move is envisaged to spur investments and expedite sectoral growth, according to Vipul Shah, chairman of the Gem and Jewellery Export Promotion Council.

The decision, documented in the Maharashtra Government Gazette on September 25, seeks to stimulate investment in the jewellery sector, boosting the India Jewellery Park's development.

This policy is regarded as a significant stride towards making India a global leader in the gem and jewellery industry by transforming manufacturing landscapes and creating job opportunities.

(With inputs from agencies.)