Surat Diamond Traders Form New Association, ditch SDA

Surat : In a bid to foster unity and enhance representation, diamond traders operating in Surat, the world’s largest diamond cutting and polishing industry, have joined forces to establish the Surat Diamond Traders Association (SDTA).

This parallel association, spearheaded by the Palanpuri Jains– aims to address the concerns and interests of diamond traders specifically in the Varachha and Mahidharpura diamond markets, complementing the existing Surat Diamond Association (SDA).

The official launch of the SDTA is scheduled to take place at a grand opening ceremony in the presence of Gujarat’s esteemed Home Minister, Harsh Sanghavi. Coming from a family with longstanding connections to the diamond trading business, the minister’s presence underscores the importance of this industry in the region.

Leading figures within the diamond trading community have taken up key positions within the SDTA. Notable office bearers include Hitesh Mehta of P. Hitesh & Co., Snehal Gandhi of Jay Gems, Bhavesh Morakhia (Baxi) of Meet Gems, Manish Shah of Abhinandan Gems, Kanu Dobaria of Damodar Impex, Dhaval Sanghavi of Dhaval Diamond, and Nilesh Viradia of Aneri Gems, among others. Their collective expertise and experience are expected to play a pivotal role in the association’s activities.

The driving force behind the formation of the SDTA is said to be a group of influential Palanpuri Jains, who have been prominent diamond traders in Surat for many years. The SDTA will operate alongside the SDA, which was established in 1988 to support and nurture the growth of the diamond industry.

The Surat Diamond Association, a non-profit organization with no financial motive, has served as a pillar of support for the diamond industry over the past 35 years. Boasting over 5,618 members, including Diamond Trading Company (DTC) sightholders, small diamond producers, traders, diamond brokers, and diamond equipment specialists, the SDA has played a vital role in advancing the industry’s interests.

However, recent discontent among diamond traders in Surat with the SDA’s functioning has led to the formation of the SDTA. Traders have expressed their dissatisfaction with the current dominance of diamond manufacturers and Saurashtrian Patels within the SDA, claiming that it does not adequately represent the broader diamond trading community in Surat.

The diamond industry in Surat is predominantly influenced by the Palanpuri Jains and Saurashtrian Patels, each having their significant role. While a majority of Saurashtrian Patels engage in diamond manufacturing, the Palanpuri Jains are prominent diamond traders, holding significant sway over the market.

The establishment of the Surat Diamond Traders Association marks a significant development in Surat’s diamond industry landscape. By forming a parallel association, diamond traders aim to ensure their interests are represented and their concerns are addressed more effectively, thereby contributing to the continued growth and success of the industry.

The grand opening ceremony of the SDTA, scheduled to take place at the Veer Narmad South Gujarat University’s (VNSGU) Convention Hall on Udhana-Magdalla Road, promises to be a momentous event that showcases the unity and resolve of Surat’s diamond traders in shaping the future of their industry.