SURAT – An estimated 190 diamond companies are gearing up to open offices in the new, internationally acclaimed Surat Diamond Bourse (SDB) on or after November 21. The upcoming inauguration, which Prime Minister Narendra Modi may preside over, heralds a new era for India's booming diamond industry, propelling Surat further into the global spotlight.
Located in the Dream City at Khajod on the outskirts of Surat, the SDB has completed preparations for the grand opening. The committee confirmed the list of the 190 diamond firms, including the reputed Kiran Gems Pvt Ltd led by SDB Committee Chairman Vallabh Lakhani.
Committee members assure that operations in the trading hub will start immediately following Diwali, with all 190 companies unanimously agreeing to this timeline. According to senior committee member Dinesh Navadiya, the new Bourse has successfully drawn companies away from Mumbai with the promise of improved maintenance relief, although this decision has sparked some tension between the diamond merchants of the two cities.
The SDB, a staggering ₹3,000-crore ($400 million) edifice, houses about 4,600 offices. The impending arrival of 190 firms only constitutes a fraction of the total capacity, indicating ample room for the diamond trade's exponential growth in Surat.
While the official inauguration date is yet to be confirmed, it is clear that the diamond companies are committed to commencing operations as scheduled. "PM Modi is likely to inaugurate the SDB either before or after November 21, but what's certain is that the diamond companies will start trading on the agreed date," affirmed Navadiya.
