Gems & Jewellery Policy

1)The scheme applies to eligible Gems & Jewellery units in Maharashtra engaged in jewellery manufacturing, cutting & polishing of gems, packaging and production activities.
2)Covered products include cut & polished diamonds, lab-grown diamonds, gold/silver/platinum jewellery, coloured gemstones, synthetic gemstones and imitation jewellery.
3)Eligible entities include proprietorships, partnerships, LLPs, companies, co-operative societies, trusts, AIFs, PPP/JV projects and consortiums developing parks.
4)Units should have valid Udyam Registration or IEM, as applicable.
5)Policy period is 5 years from date of approval / announcement, or till a new policy is announced.
6)Area classification: Zone-I = MMR & PMR; Zone-II = rest of Maharashtra.
7)Incentives are linked to Fixed Capital Investment / employment, and eligible units may opt for IPS / Capital Subsidy / EOU incentives.
8)IPS benefit: 100% of Gross SGST payable on first sale of eligible products billed and delivered within Maharashtra, for 10 years.
9)Capital subsidy is generally 20% of eligible FCI, capped at ₹10 crore for MSME, ₹25 crore for Large, and ₹50 crore for Mega/Ultra-Mega units.
10)For cultured pearl / lab-grown diamond units, subsidy can go up to 25% of eligible FCI, capped at ₹10 crore.
11)EOU benefit is 1% to 2% of annual turnover, subject to annual and overall monetary ceilings; special category units may get additional 5% capital subsidy.
12) Important point: total incentives under all policies shall not exceed 120% of eligible FCI; capital subsidy is admissible only on plant & machinery and after commercial operations commence.