Surat Diamond Bourse Inauguration: PM Modi Sets the Stage for Global Diamond Commerce

Surat: 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.