Hyderabad Gems SEZ Ltd is a Diamond Processing Zone (SEZ) developed by Mr. Suresh Chukkapalli promoted by Mumbai based Gitanjali Group. The Zone had 75-100 diamond, jewellery and jewellery-watch manufacturing units, besides training centre for manufacturing jewellery and cutting and polishing of diamonds.
The SEZ is 100% subsidiary for Gitanjali Group and also known as Rajiv Gems Park. This will be the contemporary destination for manufacturers, businessmen and entrepreneurs in the field of gems & jewellery for both gold & diamonds. The facility would house cutting and polishing units, testing laboratories, certification centres, banks, merchandising centres and other services relevant to the trade. The park is strategically located where India's finest jewellery craftsmen are based. In addition, the group is ensuring availability of the requisite talents by providing training opportunities with an institute planned at the location. In addition, the park will also feature a diamond certification lab.This project has also received approval from the central government. The ministry of commerce, vide its letter dated June 9, 2006, has formally notified the setting up of the 200-acre (0.81 km2) Rajiv Gems Park.
The government of Andhra Pradesh had sanctioned its approval and handed over the land last year and work on the first phase had commenced in November last. The project will see an estimated turnover of Rs 5,000 crore when it is fully operational.