Surat Diamond Bourse Set to Commence Operation With 135 Diamond Offices

Surat : Surat Diamond Bourse (SDB), acclaimed as the world’s largest office building after the Pentagon in the United States, is poised to witness a significant surge in activity as approximately 135 diamond offices prepare to initiate operations starting November 21. Among these offices, a notable 26 diamond companies are making a pivotal shift, having closed down their Mumbai-based operations.

An official statement released by the SDB highlighted that 983 diamond companies had ceremoniously placed their kumbh ghada or kalash, symbolizing the establishment of their new offices. Out of this significant number, 135 firms are slated to commence their diamond trading activities within the expansive premises of SDB from November 21.

However, specific details about whether the 26 companies relocating from Mumbai previously operated within the Bharat Diamond Bourse (BDB) or other locations remain undisclosed by SDB officials.

In anticipation of the commencement of diamond trade operations at SDB, the State Bank of India (SBI) took a significant step by inaugurating its branch office within the SDB premises on Monday. The SBI’s presence aims to facilitate and streamline diamond trade processes, particularly in the realm of diamond import and export transactions.

Dinesh Navadia, the media convener of SDB, expressed the diamond industry’s eagerness for the inauguration of the world’s largest diamond bourse in Surat. He confirmed the imminent commencement of diamond trading activities from November 21, underlining the shift of 26 offices from Mumbai to SDB, marking a transformative move in the industry landscape.

Vallabhbhai Lakhani, chairman of SDB, echoed similar sentiments, highlighting the historic significance of over 135 offices initiating operations within the SDB premises, signifying a monumental chapter in the annals of the diamond trade industry.

Amidst this significant development, the official inauguration of the Surat Diamond Bourse is scheduled to be presided over by Prime Minister Narendra Modi on December 17, signifying a momentous occasion for the diamond sector and underscoring its global prominence.

The commencement of operations at SDB represents a paradigm shift in the diamond trade landscape, consolidating Surat’s position as a global hub for the diamond industry, with heightened anticipation for enhanced trade and industry advancements.