The long-anticipated opening of the Surat Diamond Bourse (SDB) finally took place on Tuesday (November 21) nearly three years behind schedule, IDEX Online reports. Prime Minister Narendra Modi will officially open the building on December 17.
Initially slated for inauguration in January 2020, the $355 million bourse faced successive delays. The SDB has been recognized by Guinness World Records as the largest office building globally, boasting an expansive 7.1 million square feet of floor space, surpassing even The Pentagon..
Local media sources revealed that 135 diamond trading firms have commenced operations at their SDB offices, including 26 traders who transitioned from Mumbai’s rival Bharat Diamond Bourse (BDB).
In other India related news, figures released by the Gems and Jewellery Export Promotion Council (GJEPC) and quoted by IDEX Online show that India’s voluntary suspension of rough diamond imports, enforced from October 15, is yet to have a real impact.
GJEPC reported that October imports amounted to $1.019 billion, a marginal decrease from September’s $1.033 billion. In August, imports stood at $1.317 billion.
