Surat: In a major development for the diamond industry, Gujarat’s Minister of State for Home and Industries, Harsh Sanghavi, has announced that all diamond trading offices will commence full operations at the Surat Diamond Bourse (SDB) starting January 23, 2026.

The decision was taken following consultations with traders, brokers, and small business owners from Surat’s prominent diamond hubs—Mahidharpura, Varachha, and Katargam. From the declared date, existing offices at Mahidharpura will close, and all trading activities will be centralized within the SDB complex.

The announcement was made during a landmark meeting attended by SDB Chairman and Rajya Sabha MP Govind Dholakia, Vice Chairman Laljibhai T. Patel, and hundreds of key industry stakeholders.

Minister Sanghavi emphasized that the move will especially benefit small traders and brokers, enabling buyers and sellers to operate under one roof, enhancing transparency, convenience, and overall trade efficiency.

To further support small businesses, Sanghavi declared that office-cum-cabins would be made available at SDB for just Rs. 15,000. This move aims to remove the financial barriers that previously prevented smaller traders from transitioning into the Bourse.

While most traders have welcomed the shift, a section of Jain traders from Palanpur, Deesa, and Dhanera—who wield significant influence over Mahidharpura’s diamond market—have shown reluctance. In response, Sanghavi, along with leaders Arvind Ajbani and Ashish Doshi, has begun outreach efforts to win their support.

Sanghavi asserted that SDB is poised to become a global center of inspiration for diamond trading. However, he acknowledged past setbacks—including the resignation of prominent industrialist Vallabhbhai Lakhani, who stepped down due to slow progress. Additionally, several banks and retail outlets such as Amul and Sumul have ceased operations at the SDB complex in previous years.

One of the major hurdles in SDB’s expansion remains the limited infrastructure at Surat Airport. The absence of wide-body aircraft landing facilities and direct connectivity for international buyers has hampered growth. Though limited flights to Dubai and Bangkok have been introduced following central government efforts, ongoing runway construction continues to restrict broader international access.

Meanwhile, the India Jewellery Park project in Navi Mumbai, which is progressing rapidly with over 2,000 planned units, is emerging as a potential competitor to SDB.

As the diamond industry looks to reaffirm Surat’s global position, the full operational launch of SDB on January 23 will be a decisive moment. Whether this effort propels Surat to become the undisputed global capital of diamond trading remains to be seen.

In response to the recession affecting countries like America and Europe, the Diamond Trading Company (DTC) has reduced prices at its rough diamond sites by 2 to 3 percent. The recent auctions by DTC, a subsidiary of De Beers, aim to stabilize the market amidst challenging economic conditions.

The diamond industry in Surat, which has been grappling with challenges for the past two years, has felt the impact of these price reductions. Despite the diamond industry's resilience during the pandemic when other industries were closed, the aftermath of conflicts such as the Ukraine-Russia and Israel-Palestine wars has dampened global diamond demand.

DTC's auctions have been strategically scheduled, with the second auction held from February 2 to March 2, the third from April 2 to 5, and the fourth auction site from May 6 to May 10 this year. This move is part of efforts to stabilize the market and address the current bullish trend.

Jagdish Khunt, President of the Surat Diamond Association, highlighted that while the previous DTC rough auction saw stable prices, the recent auction has seen an overall reduction of 2 to 3 percent in rough diamond prices. Industry stakeholders are working diligently to stabilize the market and navigate the challenges posed by fluctuating demand and economic conditions.

The Surat Diamond Bourse is building a dedicated strongroom at Mumbai Airport to securely handle incoming diamond parcels. This initiative by the new working committee aims to streamline operations and ensure the safety of valuable cargo. Located near the existing BKC strongroom, the facility is expected to be completed within two weeks.

This move comes alongside efforts to increase activity at the world's largest diamond bourse building in Surat. The committee, after consultations with industry leaders, plans to accelerate the pace of work within the Surat offices by July. The Mumbai strongroom addresses the challenge of late-arriving parcels and the unavailability of courier staff at odd hours. With customs approval secured, the strongroom will provide secure storage, insurance, and peace of mind for diamond deliveries arriving at Mumbai Airport.

Surat (Gujarat) [India], December 21: Prime Minister Narendra Modi inaugurated the Surat Diamond Bourse, the world’s largest corporate office building, in Surat on Sunday. Built at a cost of Rs. 3,400 crores, the Surat Diamond Bourse will further strengthen Surat’s position in the global diamond industry.

Speaking on the occasion, Prime Minister Narendra Modi described the Surat Diamond Bourse as one more diamond added to Surat’s grandeur.

“This diamond is not small, but the world’s best. Even the biggest buildings of the world pale before the shine of this diamond. This building is the symbol of new strength and determination of new India,” the Prime Minister said.

He recalled that in the past, buyers from 84 countries used to come to Surat for trading, but because of Surat Diamond Bourse, the city will attract buyers from 175 countries.

He said that with India’s largest customs clearance house, jewellery mall, international banking and safe vault facilities, the Surat Diamond Bourse will provide a world-class business experience. He said that India’s share in the global gem & jewellery exports is 3.50%, but the central government has identified the gem & jewellery sector as a focus area to increase the exports to double digits.

“Make in India has become an influential brand globally and the Surat Diamond Bourse is the best example of it. The building is a symbol of India’s design, concept, engineering, architecture, and self-reliance. The Surat Diamond Bourse will prove to be a game-changer for the country’s economy,” he said, expressing conference that the bourse will emerge as a one-stop-centre for diamond workers, merchants, traders, and buyers.

The Prime Minister also called upon the Indian gems & jewellery industry to play its part in making India the third-largest economy in the next five years and contribute to building a developed India.

The Surat Diamond Bourse is a part of the Diamond Research and Mercantile City (DREAM City), which is taking shape at Khajod near Magdalla in Surat in an area of 682 hectares. More than 4,200 diamond industrialists have come together to establish the Surat Diamond Bourse.

In his address, Chief Minister Bhupendra Patel, said, “The belief that Prime Minister Narendra Modi is the guarantee of development has been firmly established across the country. He has created a new history of development with his resolution of ‘Developed India @ 2047.”

The Chief Minster also said that by attracting lakhs of people from across the country, Surat has emerged as a mini-India and truly signifies the prime minister’s vision of “Ek Bharat, Shreshth Bharat”.

In his address, Surat Diamond Bourse Chairman and Kiran Gems’ Chairman Vallabhbhai Lakhani, said, “The Surat Diamond Bourse was born out of the idea that if Surat can emerge as the global hub of diamond cutting and polishing, why can it also not become a trading hub. The Surat Diamond Bourse will become a world-class trading centre for Indian and international diamond merchants. It is poised to create thousands of employment opportunities, which will have a substantial impact on the country’s economy.”

Laljibhai Patel, Director of Surat Diamond Bourse, said, “The Surat Diamond Bourse is the result of the efforts and commitment of 4,200 members and the over 900 meetings we had. The commencement of Surat Diamond Bourse marks a new era in Surat’s history. We are committed to helping realise the Prime Minister’s vision of a new India.”

The Surat Diamond Bourse has become the world’s largest office complex, spanning over 67 lakh square feet of floor space. It has surpassed the size of the Pentagon, the US defence headquarters, which is spread across 65 lakh square feet. The megastructure comprises nine 15-storey towers, which house a total of around 4,700 offices.

Later, speaking with media-persons, Mathur Savani, Director of Surat Diamond Bourse, said, “It is a proud moment for all of us that Prime Minister Narendra Modi has inaugurated the Surat Diamond Bourse. The diamond industry has played a pivotal role in placing Surat on the global map. I am confident that the inauguration of Surat Diamond Bourse marks the beginning of a new era in Surat’s growth.”

The Surat Diamond Bourse is expected to host business of Rs. 2 lakh crore per year and establish Surat as the global hub of the diamond industry.

Surat, Dec 19 (IANS) The Gems and Jewellery Export Promotion Council (GJEPC) on Tuesday announced plans to launch the country's largest Special Notified Zone (SNZ) for the import and trading of rough diamonds at the Surat Diamond Bourse (SDB).

GJEPC's Gujarat Regional Chairman Vijay Mangukiya highlighted the council's role in realizing Prime Minister Narendra Modi's vision for establishing the SNZ, a concept initially proposed at the World Diamond Conference held in Delhi in 2014.

He said that preparations for the SNZ at the SDB are in progress, with an official announcement contingent on government clearance, and expressed confidence that the upcoming zone would elevate industry standards, foster international collaboration, and propel the Indian diamond industry to new heights.

The forthcoming SNZ at the b ourse features 15 fully-equipped cabins, a high-security monitoring room, and a 24/7 security system.

Spanning 4,500 square feet, it is poised to become India's largest SNZ. Since its inception in 2015, the SNZ is hosting major mining companies, including Alrosa, De Beers, Rio Tinto, Dominion Diamonds Corp, and Okavango Diamond Company.

The SNZ has witnessed over 25,000 visitors showcasing more than 15 million carats of rough diamonds valued at over $3 billion.

With 4,500 offices across its 45 floors in a complex spanning 35.54 acres, the Surat Diamond Bourse is set to offer a multitude of benefits to both domestic and international diamond traders. With this project, Surat's diamond trade, currently worth Rs 2 lakh crore, is expected to double to Rs 4 lakh crore annually.

Surat : The "City of Lights" is abuzz with excitement as Prime Minister Narendra Modi is set to visit tomorrow, December 17th, to mark two momentous occasions: the inauguration of the Surat Diamond Bourse and the new terminal building of Surat Airport. This visit promises not only to bolster the city's economic standing but also to shine a spotlight on its vibrant diamond industry and burgeoning infrastructure.

Landing in Luxury

Prime Minister Modi's arrival at Surat Airport at 10.20 am will be a spectacle in itself. After disembarking from his special plane, he will be greeted by a sea of faces eager to witness the inauguration of the state-of-the-art terminal building. This modern facility, a testament to Surat's rapid growth, will undoubtedly enhance the city's air connectivity and passenger experience.

A Glittering Gem

Following the airport inauguration, PM Modi will head to the much-anticipated Surat Diamond Bourse. This colossal complex, touted as the world's largest office building, will be a shining symbol of Surat's diamond trade dominance. With a capacity to house over 4,500 diamond trading offices, the Bourse is poised to further solidify Surat's position as a global diamond hub.

A Public Affair

To mark this landmark occasion, PM Modi will address a public gathering of around 2,000 dignitaries and industry leaders, both from India and abroad. An additional 25,000 attendees, including jewelers and diamond business associates, are expected to be present, creating an electric atmosphere of anticipation and excitement.

Security Tightened, Preparations Finalized

In anticipation of the Prime Minister's visit, security arrangements have been beefed up throughout Surat. Rehearsals for the convoy route from the airport to the Diamond Bourse have been conducted meticulously, ensuring smooth and efficient movement. The Diamond Bourse itself is decked out with iron barricades and adorned with vibrant decorations, reflecting the importance of this occasion.

A Beacon of Progress

Prime Minister Modi's visit to Surat is not just about inaugurations and speeches. It is a symbolic gesture of support for the city's unwavering spirit and its relentless pursuit of progress. The gleaming new airport terminal and the awe-inspiring Diamond Bourse stand as testaments to Surat's ambition and its commitment to excellence. As the city welcomes its esteemed guest tomorrow, one can't help but feel a sense of pride and optimism for the future of this dynamic and ever-evolving metropolis.

The inauguration of the world's largest business building, the Surat Diamond Bourse (SDB), scheduled for Sunday, December 17th, faced a potential hurdle with a lawsuit filed by the PSP Company, a manufacturer of diamond burs, claiming dues of Rs. 538 crore. However, in a recent development, the SDB Committee successfully obtained a stay order from the Gujarat High Court, temporarily halting the legal proceedings.

The hearing for the case was originally scheduled for Saturday, December 16th, just a day before the SDB inauguration. However, the stay order has effectively put the lawsuit on hold until December 27th, providing the SDB Committee with valuable time to prepare their defense and present evidence in court.

Lalji Patel, Chairman of the SDB Construction Committee, expressed his confidence in the legal system and reassured diamond traders through a video statement posted on social media. He emphasized that the SDB Committee has not engaged in any wrongdoing and will not deduct or provide funds to anyone without proper justification.

"We have the trust of over 4,200 diamond dealers," Patel stated in his video. "There is nothing to worry about. We will present our evidence in court on the next hearing date, December 27th."

This temporary legal victory comes as a relief for the SDB Committee and ensures that the inauguration of this iconic building can proceed as planned. However, the outcome of the December 27th hearing will determine the long-term legal ramifications of the lawsuit and its potential impact on the SDB.

Surat, India, prepares to host the grand opening of the world's largest office building, the Surat Diamond Bourse, on December 17th. This momentous occasion has sparked a surge in demand for accommodation, with hotels across the city experiencing near-full occupancy.

Prime Minister Narendra Modi announced the inauguration date four months in advance, allowing the Bursa Committee ample time to prepare for the event. Recognizing the international significance of the occasion, the committee extended invitations to over 2,000 guests from abroad, including representatives from major diamond hubs like Dubai and Hong Kong.

To accommodate the influx of guests, the Bursa Committee has booked rooms in various hotels, including all three five-star hotels in the city. The high demand has even necessitated booking rooms at the Awadh Utopia Club, highlighting the scale and importance of the event.

The Surat Diamond Bourse represents a significant milestone for the city's diamond industry, which boasts a global reach. Recognizing this connection, the Bursa Committee prioritized inviting diamond traders, buyers, and associates from around the world to participate in the inauguration ceremony. More than 2,000 individuals associated with the diamond trade have been invited and will be provided with hotel accommodations.

The accommodation rush extends beyond five-star hotels. With all rooms in these establishments currently booked, the demand has spilled over to three-star hotels and the Awadh Utopia Club, showcasing the sheer volume of guests expected for the inauguration.

The event is also expected to witness a large contingent of diamond traders from Mumbai, with estimates exceeding 3,000 individuals. Additionally, traders from other major Indian cities like Delhi and Jaipur are expected to participate, further increasing the demand for accommodation.

With sources suggesting the arrival of some diamond traders via charter flights, the city is gearing up for a grand event that will undoubtedly solidify Surat's position as a global diamond hub.

Surat, India, is rapidly developing into a major global diamond trading hub. However, despite its booming industry, diamond traders face a significant challenge: limited international flight connectivity. The lack of direct international flights from Surat to major diamond trading centers like Dubai, China, America, Russia, and European countries hinders the industry's growth.

Surat Airport Expansion Hopes to Bridge the Connectivity Gap

Fortunately, there is exciting news on the horizon. The Surat Airport expansion project is nearing completion and promises to significantly improve connectivity. The project includes a new terminal building, parallel taxi tracks, and increased aircraft parking. This expansion will boost the airport's passenger capacity from 17.5 lakhs to 26 lakhs and pave the way for international flights.

Diamond Bourse Anticipates Direct International Flights

Dinesh Navadiya, Director of the Diamond Bourse, expressed the industry's eagerness for international flights. He highlighted the positive response received from the Prime Minister and Aviation Minister regarding this matter. Currently, diamond traders rely on connecting flights through Mumbai, which adds unnecessary time and expense. Direct international flights would be a game-changer for the industry.

Prime Minister to Inaugurate Upgraded Airport on December 17th

On December 17th, Prime Minister Narendra Modi is expected to inaugurate the new terminal building, three aerobridges, a section of the parallel taxi-way, and an aircraft parking area. The expansion will also increase the number of aerobridges and parking facilities, significantly enhancing the passenger experience.

Modern Amenities and Five-Star Green Rating

The upgraded terminal building will boast modern amenities like a reserve lounge, bank ATMs, central display screens, a spacious waiting area, 20 check-in counters, 13 immigration counters, and 5 baggage carousels. Committed to sustainability, the terminal building is designed to achieve a 4-star Green Rating for Integrated Habitat Assessment (GRIHA).

Surat Poised for International Diamond Trade Boom

With the expansion of Surat Airport and the anticipated launch of international flights, the city is poised to become a major player in the global diamond market. The improved infrastructure will facilitate easier trade with key diamond centers, boost the local economy, and create new employment opportunities. The future for the Surat diamond industry is bright, and international connectivity is the key that will unlock its full potential.

The highly anticipated inauguration of the Surat Diamond Bourse is facing a challenge: the nearby Khajod dumping site, containing millions of tonnes of waste. Despite efforts to remove a significant amount of garbage, the remaining 15 lakh metric tonnes continue to pose health and environmental concerns.

For years, residents living near the dumping site have complained about the unbearable stench and potential health risks. With the Diamond Bourse drawing international attention, the issue has gained urgency, with Prime Minister Narendra Modi himself expressing concerns during project review meetings.

The odor emanating from the dumping site is not only unpleasant but also poses a potential health hazard for visitors and workers at the Diamond Bourse. Local authorities and the Gujarat government have acknowledged the issue and are actively seeking solutions.

Efforts to Address the Problem

Surat Diamond Bourse spokesperson Dinesh Navadiya highlighted the ongoing efforts to control the foul smell. He emphasizes the distance between the Diamond Bourse and the dumping site (2000 meters), but acknowledges the issue of odor carried by the wind. He also confirmed that the Gujarat government and local authorities are working towards a solution.

SMC Commissioner Shalini Aggarwal assured the public that a new dumping site is in the works. Located in Umber village, the new facility will be India's most modern solid waste processing plant. However, obtaining environmental clearance from the Centre is delaying the project's completion.

Concerns Remain

While the authorities' efforts are encouraging, concerns remain regarding the timeline for resolving the issue. The proximity of the existing dumping site to the Diamond Bourse presents a negative image for the city and raises health concerns for individuals working and visiting the facility.

It is crucial for the authorities to expedite the approval process for the new dumping site and implement effective measures to control the odor from the existing site until the transition is complete. Only then can the full potential of the Surat Diamond Bourse be realized without compromising the environment and public health.

Additional Information:

• The Surat Diamond Bourse is expected to be inaugurated by Prime Minister Narendra Modi in December 2023.
• The Khajod dumping site has been in operation for decades and is now reaching its capacity.
• The new dumping site in Umber village is located approximately 15 kilometers from the city center.

Citizens and stakeholders can play a crucial role by demanding transparency and accountability from the authorities regarding the progress of the new dumping site. Additionally, raising awareness about the issue can help keep the pressure on the authorities to provide a swift and effective solution.

Surat : Get ready to witness the grand opening of the world's largest diamond business hub, the Diamond Bourse, in Surat. The inauguration ceremony, slated for December 17th and graced by Prime Minister Narendra Modi, promises to be a spectacle for the industry, attracting thousands of dignitaries, celebrities, and industry professionals from across the globe.

A New Era for Surat's Diamond Industry:

The Diamond Bourse Committee is leaving no stone unturned in making this a truly unforgettable event. Invitations have been extended to thousands of guests, including industry leaders, renowned personalities, and celebrities from various fields. With a seating capacity for over 40,000 people in the dome, the event promises to be grand and well-organized.

Global Recognition and Collaboration:

Beyond its sheer size, the Diamond Bourse aims to propel Surat's diamond industry onto the world stage and establish its unique identity. The launch event will see the participation of key players from the global diamond industry, fostering collaboration and strengthening Surat's position as a global leader.

A Star-Studded Affair:

Adding to the glamour of the event, legendary figures from the cricketing world, the film industry, and other fields have also been personally invited. Their presence at the ceremony further underscores the significance of this event and the impact it is expected to have on the diamond industry.

A Momentous Occasion:

The opening of the Diamond Bourse marks a historic moment for Surat's diamond industry. With its grand opening event, the hub aims to usher in a new era of growth, collaboration, and international recognition for the city and its thriving diamond trade.