G & J sector Memorandum of Understanding (MoU) was entered on January 2023 in Davos, Switzerland during Government of Maharashtra’s participation at World Economic Forum 2024. The MoU is made to facilitate IJPM (India Jewellery Park, Mumbai) proposed investment in Maharashtra in a time bound manner and has been entered between; IJPM, a Company incorporated under the Section 8 of Companies Act, 2013, having its Corporate Office at D2B, D Tower, West Core, Bharat Diamond Bourse, BKC, Mumbai - 51 and The Department of Industries, Government of Maharashtra. Details of proposed investment: Name of project: IJPM, Location: Navi Mumbai, Proposed Investment: (in INR Cr) 50,000. Proposed year of commencement: 2027. It aims to create direct and indirect employment for at least 100,000 persons.

On this occasion Maharashtra Chief Minister Eknath Shinde said he is resolute in leading the state to its ambitious target of becoming a USD 1 trillion economy as the state government secured investment MoUs worth Rs 3.53 lakh crore (USD 44 billion) at the World Economic Forum Annual Meeting.

The state also received an expression of interest for an additional Rs 1 lakh crore investment, taking the total to Rs 4.5 lakh crore (nearly USD 57 billion) with a potential to create about two lakh jobs across sectors, including electronics, IT, data centres, gems and jewellery, agriculture, automobile and renewable energy, an official statement said.