The Surat Diamond Bourse (SDB) is set to inaugurate a Special Notified Zone (SNZ), aimed at facilitating rough diamond imports from major miners. Representing nearly 10,000 manufacturers, the Gems and Jewellery Export Promotion Council (GJEPC) expects it will be India‘s largest diamond SNZ, according to IDEX Online.
Spanning 4,500 sq ft (418 sq meters), the state-of-the-art facility will include 15 cabins, a high-security monitoring room, and a 24/7 security system. This move follows the success of India’s first SNZ at the Bharat Diamond Bourse in Mumbai, which attracted key players like Alrosa, De Beers, Rio Tinto, Dominion Diamonds Corp, and Okavango Diamond Company, covering 85% of global rough production.
India’s PM Narendra Modi initially announced plans for an SNZ at the Surat Diamond Bourse in 2014 during the World Diamond Conference in Delhi. GJEPC’s Gujarat regional chairman, Vijay Mangukiya, stated that it will be ready to “open shortly,” according to the report.
