New Delhi: The grand inauguration of the world's largest corporate office hub, 'Surat Diamond Bourse' is scheduled for December 17 in the presence of Prime Minister Narendra Modi. The state-of-the-art facility spanning over 35.54 acres of land and constructed at an estimated cost of Rs. 3400 crores, the Surat Diamond Bourse is India's largest Special Notified Zone (SNZ) for rough diamonds.
SDB has reportedly beaten the US's Pentagon in capacity by having over 4,200 diamond trading offices. The building can house 4,200 traders from 175 countries who will come to Surat to buy polished diamonds. Around 1.5 lakh people are likely to get employment from the trading facility.
During the inauguration event, PM Narendra Modi will be accompanied by Chief Minister Bhupendra Patel, Central and State Ministers, Chairman of Diamond Burse Vallabh Lakhani, Director Mathur Savani, Govind Dholakia, Lalji Patel, Chairman of Surat Diamond Institute Dinesh Navadia. Members of the Bourse Committee, along with professionals from the diamond industry, will also attend the event.
The primary objective behind establishing the bourse is to facilitate the import, export, and trade of diamonds, gems, and jewellery from India. It aims to provide a modern infrastructure and a global platform for diamond trading, catering to both small and large enterprises, as well as MSMEs involved in diamond production and business.
Spanning nine towers, this green building holds the highest platinum-grade certification for both sustainability and green energy. Additionally, it offers world-class facilities, making it a pinnacle of excellence.
Gujarat has gained global prominence in various aspects, including hosting the world's tallest statue, the Statue of Unity dedicated to Sardar Patel, the largest Solar Renewable Energy Park at Charanka, and the Narendra Modi Cricket Stadium in Ahmedabad. Similarly, Surat is now set to house the world's largest corporate office hub with the Diamond Bourse.
This development will establish a new, world-class business centre for international diamond traders, directly contributing to the state and country's economy and providing employment opportunities for thousands of people.
Surat stands as the worldwide hub for diamond production, with 8 out of 10 diamonds globally cut, polished, and processed in the city. Gujarat contributes to 80% of India's total diamond exports, and 90% of Gujarat's diamonds undergo cutting and polishing in Surat. The industry directly employs over 9 lakh people, earning Surat the title of the 'Silky City Sparkling with Diamonds.'
The world's largest interconnected building SDB serves as a comprehensive marketplace for the auction of diamond raw materials from around the world, encompassing high-value goods such as rough, cut and polished diamonds, studded jewellery, and diamond-gold-silver-platinum jewellery, facilitating substantial buying and selling transactions.
The facility plans to incorporate 27 international jewellery showrooms, providing a platform for foreign businessmen and their families to purchase diamond jewellery. Surat's diamond industry, currently generating a business of 2 lakh crores, is anticipated to double to 4 lakh crores with the realisation of the Diamond Bourse. This implies an annual business turnover of 2 lakh crores through SDB alone. Such growth is expected to significantly benefit both the state and central governments in terms of tax revenue.
Equipped with 131 high-speed lifts, each operating at a speed of 3 metres per second and managed by an advanced destination control system, the lifts in SDB ensure a three-minute journey to the 16th floor. A significant portion of the Bourse premises, totalling 35.54 acres, is dedicated exclusively to a garden area following the Panchatatva theme.
Designed according to Vastu Shastra principles and representing the nine planets, this garden ensures that every office gets sunlight. The ideal architectural layout maintains sufficient distance between the two towers, providing ample air and sunlight to all offices. Whether entering from any of the 9 towers, traders, or visitors, reaching any office within 3 minutes is facilitated.
The Bourse ensures environmental protection and pollution control through an 1800 KLD Suez Treatment Plant under the Zero Liquid Discharge concept, alongside a 400 KW solar power plant.
The bourse features a spacious entrance, reception area, security surveillance and control room, trading hall, self-deposit vault, museum, food zone, bank, customs office, amphitheatre, money transfer desk, travel desk, retail zone, and auction facilities. Multipurpose spaces, including housing, a security control room, and the Diamond Club, have been incorporated.
The offices vary in size from 300 square feet to 1,00,000 square feet. The Bourse comprises a total of 9 towers with a ground floor, 15 additional floors, and 2 basements. The vast campus provides parking for 11,000 two-wheelers and 5,100 four-wheelers. The auction house, equipped with Israel's C4i technology, operates from a central command and control centre, featuring over 4000 CCTVs for polished and rough diamond auctions. The building boasts an impenetrable security shield through an advanced hi-tech security system with cameras.
Mathur Savani, a core committee member of Bourse said that the Dream City (Diamond Diamond Research and Mercantile City) project was officially inaugurated on 15 February 2015 in Khajod, near Magdalla, Surat, by the then Chief Minister, Anandiben Patel. During this event, Smt Anandiben Patel also laid the foundation stone for the Surat Diamond Bourse project, which is part of the Dream City initiative.
Vallabh Lakhani, Chairman of the Diamond Bourse, expressed gratitude for the prompt collaboration of the State Government, Surat Municipal Corporation, and District Administration officials for the swift establishment of the Diamond Bourse. Acknowledging the challenges faced by the diamond industry, he illustrated that historically, Surat has been a manufacturing powerhouse, while Mumbai served as a trading hub.
As a result, traders needed offices in both cities, incurring significant costs. With the establishment of the Bourse, the diamond trading system will now be centralised in Surat, streamlining operations in the city renowned for cutting and polishing diamonds. Lakhani mentioned that following the Prime Minister's suggestion to Bourse members regarding the use of new hydrogen energy for environmental protection, we have taken steps to implement this recommendation.
Dinesh Navadia, Chairman of Surat Diamond Institute, highlighted that the 'Surat Diamond Bourse,' India's largest customs clearance house, is a remarkable achievement. He said that Prime Minister Narendra Modi, who successfully recognised the resolution to build the world's tallest statue of Sardar Patel Saheb, is now determined to rejuvenate Surat's diamond industry.
Surat Diamond Bourse is set to attract global attention, making Surat a prominent hub for the purchase of polished diamonds with Prime Minister Narendra Modi inaugurating the Bourse, marking a historic milestone for the Indian and global business communities.
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