Surat Diamond

1. PM Narendra Modi to inaugurate Surat Diamond Bourse in Gujarat.
2. The bourse is the world’s largest center for the diamond and jewelry trade.
3. It will serve as a global hub for trading rough and polished diamonds, as well as jewelry.

Surat, Dec 17: Prime Minister Narendra Modi is scheduled to inaugurate the Surat Diamond Bourse in Gujarat’s Surat district, marking the world’s largest and most advanced center for the international diamond and jewelry business.

The Surat Diamond Bourse will play a pivotal role as a global hub for trading both rough and polished diamonds, along with jewelry.

The facility encompasses a cutting-edge ‘Customs Clearance House’ catering to import and export, a jewelry mall for retail business, and a facility for international banking and safe vaults.

In a post on social media, PM Modi expressed anticipation for the inauguration, emphasizing its significant impact on the diamond industry. He detailed the inclusion of crucial components like the ‘Customs Clearance House,’ Jewelry Mall, and facilities for International Banking and Safe Vaults in the Surat Diamond Bourse.

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Constructed at an approximate cost of Rs 3,500 crore, the sprawling building covers 67 lakh square feet, boasting the capacity to accommodate nearly 4,500 diamond trading offices.

Notably, the Surat Diamond Bourse, part of the Diamond Research and Mercantile (DREAM) City, secured recognition from the Guinness World Records in August as the world’s largest office building.

Situated on a vast plot of 35.54 acres, the megastructure comprises nine ground towers and 15 floors, featuring office spaces ranging from 300 sq ft to 1 lakh sq ft. The nine interconnected rectangular towers create a central spine, contributing to the building’s unique design. Additionally, the Surat Diamond Bourse has earned a platinum ranking from the Indian Green Building Council (IGBC).

Billionaire diamond trader Vallabhbhai Lakhani, Director of Kiran Gems, has relocated his Rs 17,000-crore business to the Diamond Bourse. Lakhani is also involved in the development of a mini-township to accommodate his employees.

Following the inauguration event, PM Modi is slated to travel to his Lok Sabha constituency, Varanasi, where he will participate in various engagements.