Surat’s diamond bourse to house India’s largest precious cargo customs clearance centre

By Melvyn Reggie Thomas

Surat: Soon, the world’s largest diamond cutting and polishing center in Surat is set to envy its neighbor (Mumbai). The world-class Surat Diamond Bourse (SDB), coming up at the Diamond Research and Mercantile (DREAM) city at Khajod, some 15 kilometers away from Surat, will be housing India’s largest  Precious Cargo Customs Clearance Centre (PCCCC) for the export and import of the precious diamonds and jewelry.

Sources in the BDB informed, the PCCCC at Bharat Diamond Bourse (BDB) in Mumbai is spread on an 8,000 square feet area, while the customs clearance center at SDB is being set up on the area admeasuring 25,000 square feet.

Senior customs officers from Ahmedabad and Surat visited the ‘Diamond Club’ where the customs clearance center will be set up for the clearance of the precious cargo including diamonds and jewelry on Thursday.

A team of customs officers led by the deputy customs officer,  Dr. Prasad Varwantkar visited the SDB for the verification inspection of the customs clearance center space allotted to the department on Thursday. Officials were convinced that the customs clearance center at SDB will be the biggest and most sophisticated than any other customs center in the country.

Mathur Savani, spokesperson and senior core committee member of SDB diamond bourse committee told TBT, “The precious cargo customs clearance center is going to be the biggest center in India. The customs officers, who visited the bourse for onsite verification and primary inspection, were convinced and that they would be suggesting changes in the internal structure as per their requirements”

According to Savani, the PCCCC will be handling precious cargo and jewellery to the tune of over Rs 2 lakh crore per annum, which includes export and import. Gradually, the export and import would touch Rs 4 lakh crore per annum.

Dinesh Navadia, who is heading the finance committee of the SDB said, “One has to imagine about the state-of-the-art facilities at India’s largest PCCCC. While Mumbai’s PCCCC is spread on an 8,000 square feet area, the one at the SDB will have 25,000 square feet. Buyers from more than 117 countries will visit the SDB for the direct trading of rough and polished diamonds”