Government to Support Redevelopment of Zaveri Bazaar – Chief Minister Devendra Fadnavis

Inauguration of the First ‘Zaveri Bazaar Gems and Jewellery Festival 2025’

Mumbai, Oct 2025: The historic Zaveri Bazaar, which has played a vital role in India’s economy and carries a rich legacy spanning several decades, has now taken on a new look with the ongoing Gems and Jewellery Festival. Chief Minister Devendra Fadnavis announced that the Maharashtra government will extend full cooperation to the Zaveri Bazaar Welfare Association for the redevelopment and beautification of the area.

Organized for the first time by the Zaveri Bazaar Welfare Association, the Zaveri Bazaar Gems and Jewellery Festival 2025 aims to showcase the grandeur, tradition, and economic significance of Mumbai’s iconic jewellery market. The festival, being held from September 22 to October 26, 2025, was inaugurated by Chief Minister Fadnavis at Zaveri Bazaar. The main exhibition, taking place from October 6 to 16, features participation from jewellery industry leaders. Minister for Skill Development Mangal Prabhat Lodha, Association President Hitesh Jain, Secretary Kishore Jain, and several dignitaries from the gem and jewellery sector were present.

Chief Minister Fadnavis, in his address, said that Zaveri Bazaar is the backbone of India’s gem and jewellery industry, renowned worldwide for its craftsmanship. Despite various challenges over the years, the bazaar has preserved its tradition and magnificence. He emphasized that the festival has opened doors for traders here to engage with global counterparts, further strengthening India’s jewellery exports.

Highlighting Prime Minister Narendra Modi’s vision of finding opportunities amid challenges, the Chief Minister expressed confidence that the global gem and jewellery market would continue to grow despite any international difficulties. “This sector will always hold economic importance for India, and I urge our traders to keep enhancing their capabilities to ensure sustained contribution to the nation’s economy,” he said.

During the event, a Memorandum of Understanding (MoU) was signed between the Zaveri Bazaar Welfare Association and India Gold Metaverse to promote the use of advanced technologies like Artificial Intelligence and Blockchain in the jewellery trade, making it more robust and future-ready. CM Fadnavis welcomed this move, noting that integrating technology into traditional commerce would enhance transparency and efficiency.

He also lauded the unique concept of turning the entire Zaveri Bazaar area into a grand exhibition space, blending heritage with modern aesthetics. The decorations reflected India’s cultural and spiritual richness — featuring gateways named after deities and icons such as Lokmanya Tilak, Savitribai Phule, and symbolic installations including a replica of the Ram Temple.

Chief Minister Fadnavis commended the organizers for their efforts in preserving tradition while presenting it through a modern and visually appealing format. He also felicitated entrepreneurs and craftsmen who have made remarkable contributions to the gem and jewellery industry.

Zaveri Bazaar Welfare Association President Hitesh Jain expressed gratitude to the state government, tourism department, Brihanmumbai Municipal Corporation (BMC), and Mumbai Police for their support in making the festival a success.

The Zaveri Bazaar Gems and Jewellery Festival 2025 stands as a shining example of how tradition, technology, and tourism can merge to promote India’s cultural heritage and economic growth.