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Surat Diamond Bourse Inaugurated by PM Modi

Prime Minister Narendra Modi recently inaugurated the Surat Diamond Exchange, marking a historic moment as it surpassed the Pentagon to become the world’s largest office complex. This sprawling complex spans an impressive 6.7 million square feet and was completed at a cost of ₹32 billion. The iconic Pentagon, a symbol of American power, has an area of 6.5 million square feet.

The Surat Diamond Exchange’s inauguration marks a significant milestone in India’s diamond industry and urban development. As it continues to grow and serve as a global trading hub for diamonds and jewelry, it stands as a testament to Prime Minister Narendra Modi’s vision for transformative projects that shape the nation’s future.

Surat Diamond Bourse Key Features:

  • Location: The Surat Diamond Exchange is nestled within the Diamond Research and Mercantile City, a bustling business district fashioned after the Gujarat International Finance Tec-City (Gift City), one of PM Modi’s flagship projects.
  • Architectural Marvel: The complex boasts nine towering 15-story buildings housing around 4,700 offices, reflecting modern design and functionality.
  • Versatile Facilities: Among its many offerings, the complex includes a state-of-the-art ‘Customs Clearance House’ designed for efficient import-export operations. Additionally, it houses a vibrant jewelry mall catering to retail jewelry businesses and provides facilities for international banking and secure vaults.
  • Operational Status: Approximately 130 offices are already operational within the Surat Diamond Exchange, as reported by Nagjibhai Sakariya, the president of the Surat Diamond Bourse.
  • Capacity and Growth Potential: The Surat Diamond Bourse is well-equipped to handle 1,200 domestic passengers and 600 international passengers during peak hours. Impressively, there is provision for further expanding the peak-hour capacity to accommodate up to 3,000 passengers. The annual handling capacity is expected to reach 55 lakh passengers.
  • Global Trading Hub: The Surat Diamond Bourse is set to become a global center for trading both rough and polished diamonds, as well as jewelry, further enhancing India’s prominence in the diamond industry.

Notable Points About Surat Diamond Bourse:

  • The complex also features a jewelry mall, an integral part of its offerings.
  • Numerous diamond traders, including those previously based in Mumbai, have already taken possession of their offices, allocated through a management auction.
  • The Surat Diamond Bourse is a crucial component of the Diamond Research and Mercantile (DREAM) City.
  • The groundbreaking ceremony for the SDB and DREAM City project took place in February 2015, with former Gujarat Chief Minister Anandiben Patel officiating the event.
  • With an astounding 67 lakh square feet of floor space, the SDB is now recognized as the world’s largest office building, housing nearly 4,500 diamond trading offices.

Important Questions Related to Surat Diamond Bourse

Q1. What is the Surat Diamond Exchange, and why is it significant?

Ans. The Surat Diamond Exchange is the world’s largest office complex, inaugurated by Prime Minister Narendra Modi, surpassing the Pentagon in size. It is a key development in India’s diamond industry and urban planning, symbolizing the nation’s commitment to transformative projects.

Q2. Where is the Surat Diamond Exchange located, and what is its connection to Gift City?

Ans. The Surat Diamond Exchange is situated within the Diamond Research and Mercantile City, a business district inspired by Gujarat International Finance Tec-City (Gift City), one of Prime Minister Modi’s flagship projects.

Q3. What are the key features of the Surat Diamond Exchange’s architecture?

Ans. The complex comprises nine 15-story buildings with around 4,700 offices, showcasing modern design and functionality.

Q4. What facilities does the Surat Diamond Exchange offer?

Ans. The complex includes a ‘Customs Clearance House’ for efficient import-export operations, a jewelry mall for retail businesses, international banking facilities, and secure vaults.

Q5. What is the current operational status of the Surat Diamond Exchange?

Ans. As of the latest update, approximately 130 offices are already operational within the Surat Diamond Exchange.

Q6.  What is the capacity and growth potential of the Surat Diamond Exchange?

Ans. The complex can handle 1,200 domestic and 600 international passengers during peak hours, with provisions to expand capacity to accommodate up to 3,000 passengers. The annual handling capacity is expected to reach 55 lakh passengers.

Q7. How does the Surat Diamond Bourse contribute to India’s prominence in the diamond industry?

Ans. The Surat Diamond Bourse aims to become a global center for trading both rough and polished diamonds and jewelry, further enhancing India’s position in the diamond industry.

Q8. What is the significance of the jewelry mall within the Surat Diamond Exchange?

Ans. The jewelry mall is an integral part of the complex, catering to retail jewelry businesses and contributing to the overall offerings of the Surat Diamond Exchange.

Q9. How were offices allocated within the Surat Diamond Exchange, and who are its occupants?

Ans. Offices were allocated through a management auction, and numerous diamond traders, including those from Mumbai, have already taken possession of their offices.

Q10. When did the groundbreaking ceremony for the Surat Diamond Bourse and DREAM City project take place?

Ans. The groundbreaking ceremony occurred in February 2015, with former Gujarat Chief Minister Anandiben Patel officiating the event. The Surat Diamond Bourse is a crucial component of the Diamond Research and Mercantile (DREAM) City project.

 

 

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