Prime Minister Narendra Modi inaugurated Surat Diamond Bourse (SDB), the world’s largest and modern centre for international diamond and jewellery business on December 17, 2023. This comes at a time when the diamond industry is going through its worst crisis due to global economic slowdown and G7 countries’ tough stand on Russian diamonds.
The SBD building is the world’s largest office complex with over 67,00,000 square feet of floor area spread in nine 15-storey interconnected towers with offices ranging from 300 sq ft to 7,5000 sq ft. This business park aims to shift the diamond trading business from Mumbai to Surat, which is the hub of diamond cutting and polishing with thousands of factories across the city.
While inaugurating the new project, Modi dubbed the building as another diamond in the city. “One more diamond has been added to Surat’s magnificence. The tall buildings around the world have lost their sheen in front of such a huge diamond that is now being opened today.”
“Surat diamond industry provides employment to around 800,000 people, and with the coming up of new diamond bourse, 150,000 more jobs will be added,” he said.
The Surat Diamond Bourse, established as a not-for-profit organisation, is backed by SDB Diamond Bourse, a company registered under section 8 of the Companies Act, 2013. Its primary aim is to spearhead the establishment and advancement of a Diamond Bourse situated in Surat, Gujarat. It boasts 4,500 offices meticulously designed for both national and international traders, consolidating its position as a pivotal center for diamond trade in the region.
Hailing Govindbhai Dholakia, a prominent name in the diamond industry
When discussing those who have envisioned the Surat Diamond Bourse, the prominent name of Govindbhai Dholakia inevitably emerges at the forefront. Hailing from Dudhala, a small village in the Amreli district of Saurashtra, Govindbhai settled in Surat, and he stands as the visionary leader behind Sri Ramakrishna Export Pvt Ltd, a top-tier diamond company. Notably, Govindbhai shares a close association with the ABPL family, showcasing his remarkable journey of unprecedented success within the diamond industry. He has published an autobiography named “Diamonds are forever, so are morals”.
Govindbhai foresees the Surat Diamond Bourse as a game-changer, expecting a surge in economic growth. He believes its arrival will directly benefit the airport, hotels, restaurants, and create 10-20 thousand new local jobs. Additionally, he predicts a boost in Surat's business with an influx of international visitors.