PM Narendra Modi unveiled the Surat diamond bourse in Gujarat:A New Hub Set to Create 150,000 Jobs

Prime Minister Narendra Modi unveiled the Surat diamond bourse in Gujarat, showcasing plans to generate 150,000 employment opportunities. The bourse, hailed as a comprehensive platform for artisans and businessmen, marks a significant stride for Surat, renowned for processing 90% of the world's rough diamonds, and aims to elevate the city to the status of the global diamond capital.

Transformative Features of Surat Diamond Bourse

During its inauguration, PM Modi highlighted the Surat Diamond Bourse's remarkable features, spanning an expansive 6.6 million square feet, surpassing even the Pentagon in scale. He expressed confidence that this mega infrastructure, designed to include international banking services, secure vaults, and a jewelry mall, would become a significant job generator once fully operational.

Architectural Marvel and Operational Functions of Surat Diamond Bourse

The bourse, boasting nine towers with ground plus 15 floors, is poised to accommodate various facets of the diamond industry, from the sale of rough and polished diamonds to specialized machinery and diamond-related software. Among its facilities are plans for 27 retail jewelry outlets and the installation of over 4,000 CCTV cameras for enhanced security.

Surat Diamond Bourse Special features

A World of Diamonds Under One Roof

Towering at a staggering 6.6 million square feet, the SDB dwarfs even the Pentagon, solidifying its claim as the undisputed king of office buildings. This behemoth houses a comprehensive universe of diamond-related activities, catering to every facet of the industry.

• Diamond Trading Floor: From rough diamonds to polished gems, the Bourse facilitates seamless transactions for traders and wholesalers.

• International Banking Facilities: Streamlined financial operations pave the way for global engagement and secure transactions.

• Safe Vaults: Impenetrable security ensures the safekeeping of precious stones, offering peace of mind to traders and investors.

• Jewelry Mall: Exquisitely crafted pieces await discerning buyers, showcasing the artistry and brilliance of Surat's diamond craftsmanship.

• Diamond Manufacturing Hub: State-of-the-art machinery and skilled artisans collaborate to transform rough diamonds into dazzling masterpieces.

• Software and Technology Solutions: Cutting-edge tools and services support every stage of diamond processing and planning.

• Diamond Certificate Firms: Renowned labs and grading institutions provide reliable assessments and certifications for diamonds.

• Lab-grown Diamond Hub: Emerging trends are embraced, with dedicated space for the burgeoning lab-grown diamond industry.

Challenges and Opportunities for Surat’s Diamond Industry

The inauguration arrives amidst challenges confronting Surat's diamond sector, grappling with a global slump in polished diamond demand, which led to a notable 29% decline in India's polished diamond exports from April to October, totaling $10 billion.

Acknowledging Surat's prominence in diamond jewelry exports, PM Modi underscored the potential for growth in silver cut diamonds and lab-grown diamonds. He emphasized India's modest 3.5% share in global gems-jewelry exports, envisioning Surat's pivotal role in elevating this share to "double-digits."

Surat Diamond Bourse: An Economic Catalyst

Modi's announcement of the Surat diamond bourse's inauguration underscores its pivotal role in fostering economic growth, reinforcing Surat's position in the global diamond trade, and creating extensive employment opportunities.