PM inaugurates Surat Diamond Bourse

Prime Minister Narendra Modi on Sunday inaugurated the Surat Diamond Bourse, which he claimed to be the world’s largest and the most modern centre for international diamond and jewelry business. 

It will be a global centre for trading of both rough and polished diamonds as well as jewelry. The bourse will have state-of-the-art customs clearance house for import and export, a Jewelry mall for retail jewelry business and facility for international banking and safe vaults.

The bourse comprises nine 15-storied buildings with 4,500 offices spread over an area of 67,28,604 sq ft, making it even bigger than the Pentagon in the US, currently the largest office complex.

Earlier in the day, the Prime Minister had also inaugurated the new terminal building at Surat Airport. 

Addressing the gathering, the prime minister remarked that a new diamond has been added to the magnificence of Surat city. “It is not an ordinary diamond, but the best in the world”, Shri Modi said.

He credited the establishment of the diamond bourse to the spirit of entreprenures like Vallabhbhai Lakhani and Laljibhai Patel and others of taking everyone alongsion.

Vallabhbhai Lakhani, the director of Kiran Gems, perhaps was the first to move his Rs17,000-crore business out of Mumbai to Surat, and developing a mini-township for his employees there.

The establishment of the diamond bourse could lead to an exodus of diamond companies from Mumbai to Surat, reports a member of the Surat Diamond Bourse committee as saying. 

At the inauguration event, Modi said that the Surat Diamond Bourse was symbol of "new India and country's determination".

"Surat diamond industry gives employment to 8 lakh people; with the coming up of new diamond bourse, 1.5 lakh more will get jobs," he added.

“Surat Diamond Bourse will now come to the fore along with India’s pride during discussions about diamond bourses in the world”, he emphasized. The Prime Minister said, “Surat Diamond Bourse showcases the abilities of Indian designs, designers, materials and concepts. This building is a symbol of New India’s capabilities and resolutions.” 

Highlighting the bourse’s architecture, the prime minister said the green building can become an example for environment advocates around the world.

He said the inauguration of a new airport terminal at Surat and the elevation of the status of Surat Airport as an International airport bodes well for the rapid growth of the city. 

Surat, which was known as the Sun City earlier, transformed itself into Diamond City, Silk City and Bridge City through the hard work and dedication of its people. “Today, Surat is the Dream City for lakhs of youth”, he said.