Surat Diamond Bourse to Finally Commence Operations

The bourse battled to get occupants even though Prime Minister Narendra Modi's spectacular inauguration on December 17, 2023

By Melvyn Thomas On Jul 4, 2024

Surat Diamond Bourse to Finally Commence Operations with 250 Offices Opening on July 7 — Surat Diamond Bourse

Surat : Renowned as the diamond city of India, Surat is poised to see a major turning point as the Surat Diamond Bourse (SDB), the biggest office building in the world, gets ready for business. About 250 diamond offices will begin operations from July 7, according to the SDB diamond bourse committee, therefore ushering a new chapter for the diamond industry of the city.

The road to operationalize the SDB has not been easy. The bourse battled to get occupants even though Prime Minister Narendra Modi’s spectacular inauguration on December 17, 2023. Chairman of Kiran Gems and brainchild behind the SDB Vallabh Lakhani voiced his dismay at the lack of diamond offices even one month following the opening. Disillusioned, Lakhani chose to move to Mumbai, then went back to his operational base at the Bharat Diamond Bourse (BDB).

But thereafter Govind Dholakia, head of Shree Ramkrishna Exports and a BJP Rajya Sabha MP, assumed control of the SDB. With the diamond bourse ready to welcome its first wave of inhabitants, Dholakia’s persistent efforts over the past four months at last pay off.

“There is great enthusiasm and exuberance among the traders of the diamond industry as well as the people connected with the industry,” an SDB spokesman said, sharing the thrill of the approaching debut. On July 7, around 250 diamond offices will open between 9 am and 1 pm.”

Understanding the need of accessibility for small and medium diamond traders—especially those from Varachha and Mahidharpura—the SDB management has implemented specific policies to enable their visits. Dedicated bus routes starting on July 7 will guarantee dealers and brokers simple access to the exchange. From 8:15 am to 7:15 pm the buses will run on paths from Katargam to SDB, SDB to Katargam, Mini Bazaar to SDB, and SDB to Mini Bazaar.

This project is supposed to give Surat’s diamond sector much-needed support. Through better access, the SDB administration hopes to create a vibrant business environment inside the bourse. Achieving this target is thought to depend on the opening of 250 offices, hence turning the SDB into a hive of diamond trading.