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 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.