Prime Minister Narendra Modi inaugurated the newly-built Surat Diamond Bourse (SDB) in Gujarat on Sunday.
SDB is claimed to be the world’s biggest office space in a single project.
The complex has reportedly beaten the US’s Pentagon in capacity by having 4,200 diamond trading offices.
PM Modi has already said Surat Diamond Bourse showcases the dynamism and growth of Surat’s diamond industry.
“It is also a testament to India’s entrepreneurial spirit. It will serve as a hub for trade, innovation and collaboration, further boosting our economy and creating employment opportunities,” he said.
What is the diamond bourse?
The Surat Diamond Bourse (SDB) has been planned to expand and shift the diamond trading business from Mumbai to Surat, the hub of cutting and polishing diamonds.
Surat’s diamond trading market is located at present in Mahidharpra Hira bazaar and Varachha Hira Bazaar, where traders make transactions standing on the streets with almost no security measures. A major part of the diamond trading, however, happens in Mumbai at Bandra Kurla Complex (BKC), which has the amenities for international buyers.
IE report quoting sources said Mumbai has a space crunch and office real estate is pricey.
“Besides, a major chunk of the diamond traded in Mumbai is manufactured in Surat, from where local angadias carry them to Mumbai on trains, taking over 4.5 hours,” it said.
Biggest office space in the world
The SDB has been built on an area of 66 lakh square feet at DREAM (Diamond Research and Mercantile) city. According to a document by Delhi-based Morphogenesis, which designed the bourse, it is bigger than the biggest office space in the world, The Pentagon in the United States.
Morphogenesis has also designed the BSE tower in GIFT City, Gandhinagar, and the Zydus Corporate Park in Ahmedabad.
Diamond businesses under one roof
The Surat Diamond Bourse has the capacity of about 4,200 offices ranging from 300 square feet to 7,5000 square feet each. The bourse has nine towers, each with ground plus 15 floors.
