SURAT - In a landmark development for the global diamond industry, the Surat Diamond Bourse (SDB) officially opened for business today, marking a new era for Surat, the world's diamond cutting and polishing hub. The SDB is a sprawling 15-story complex that houses over 900 offices and is expected to accommodate over 4,000 diamond traders and merchants in the near future.
The opening of the SDB was a momentous occasion for the city of Surat, which has long been synonymous with diamonds. With the consolidation of diamond trading activities under one roof, Surat is poised to further strengthen its position as a global leader in the diamond industry.
Traders shift operations to Surat
Out of the 135 traders who have commenced operations at the SDB, 26 have permanently relocated from Mumbai, India's financial capital and a traditional center for diamond trading. This shift reflects the growing significance of Surat as a diamond trading hub and the SDB's potential to attract businesses from across the globe.
PM to inaugurate SDB in December
The SDB is expected to receive a major boost when Prime Minister Narendra Modi officially inaugurates the complex on December 17th. This high-profile event will undoubtedly further elevate Surat's stature as a global diamond center.
A new identity for Surat
The opening of the SDB has also brought about a significant change in the perception of Surat. Traditionally known as the 'Diamond City,' Surat is now gaining recognition as the 'Surat Diamond Bourse City.' This transformation reflects the city's growing global prominence and its commitment to becoming a one-stop destination for all things diamonds.
International buyers flock to SDB
The SDB's opening has also attracted international buyers to Surat. On the first day of operations, buyers from Turkey and other countries were present at the bourse, eager to explore the wide range of diamonds available. This international interest is a testament to the SDB's potential to become a global diamond trading hub.
Ilorozia: "A much easier way"
One of the Turkish buyers present at the SDB on the opening day was Ilorozia, a diamond merchant who had previously been purchasing diamonds from Kiran Gems, a Surat-based diamond dealer. Ilorozia expressed his positive impression of the SDB, stating that it was "a much easier way" to purchase diamonds. He also commended the "amazing and supernatural" experience of trading at the SDB.
The opening of the Surat Diamond Bourse is a watershed moment for the global diamond industry. The SDB's size, infrastructure, and strategic location are expected to make it a major player in the diamond trade, attracting businesses and buyers from around the world. As Surat continues to evolve into a global diamond center, the SDB is poised to play a pivotal role in shaping the future of the diamond industry.
