Commerce and Industry Minister Piyush Goyal announced the launch of India's first Mega Common Facility Centre (CFC) for the gems and jewellery sector at the Seepz Special Economic Zone (SEC) in Mumbai. This initiative marks a significant step towards enhancing infrastructure and boosting productivity in the industry.

Speaking exclusively to CNBC-TV18, Minister Goyal expressed optimism about India's jewellery sector, highlighting its potential for growth and expansion on the global stage. "The world is keen to increase investments and trade with India, with expectations to surpass $800 billion this year," he affirmed.

Emphasizing the government's commitment to bolstering the jewellery industry, Minister Goyal unveiled plans for a major jewellery park in Navi Mumbai. "This upcoming jewellery park will create employment opportunities for up to one lakh individuals, positioning Mumbai as a leading global hub for the jewellery sector," he elaborated.

The initiative aims not only to stimulate economic growth but also to establish Mumbai as a pivotal centre for jewellery manufacturing and trade worldwide. Minister Goyal underscored the park's potential to attract substantial investment and facilitate seamless operations for jewellery businesses.

The launch of the Mega CFC and the development of the jewellery park underscore India's proactive stance in strengthening its position as a key player in the global jewellery market.