Prime Minister Narendra Modi inaugurated the world's largest and modern center for diamond and jewelery business in Surat, Gujarat on Sunday (December 17).
SDB will be a global hub for jewelery trading
Surat Diamond Bourse (SDB) will be a global hub for jewelery trading with rough and polished diamonds. This market is part of Diamond Research and Trading (DReaM) City.
Along with custom clearance facility, there will also be facility of jewelery mall, international banking and secure vault.
World's largest office complex
Spread over an area of more than 67 lakh square feet, SDB is the world's largest office complex.
It is situated in Khajod village near Surat. Till now, the world's largest office complex has been the Pentagon, the headquarters of the US Defense Department.
In this, nine towers of 15 floors connected to each other have been built. There are more than 4,700 offices in this building. It has been built at a cost of Rs 3,500 crore. Its construction started in February 2015.
One-stop hub for both manufacturing and trading
It has been designed as a one-stop hub for both manufacturing and trading. It is known that Surat processes more than 90 percent of the world's natural diamonds.
Surat Diamond Bourse will be the world’s largest and most modern center for international diamond and jewelry business.
Bourse will comprise state-of-the-art ‘Customs Clearance House’ for Import – Export; a Jewelry mall for retail jewelry business and a facility for International Banking and Safe Vaults.
Mentioning the efforts to increase exports, the Prime Minister said that the country’s diamond industry will have a big role to play. He asked the titans of industry to explore ways of increasing Surat’s role in increasing the country’s exports.
Stating the leading position of India in diamond jewelry exports, silver cut diamonds and lab-grown diamonds he pointed out that in overall global gems-jewelry exports, India’s share is just 3.5 percent.
“If Surat decides, then our share in gems-jewelry export can touch double-digit”
“If Surat decides, then our share in gems-jewelry export can touch double-digit”, the Prime Minister said, reiterating the government's support for the sector. He mentioned measures like declaring the sector as a focus area for export promotion, promotion of patented design, diversification of export products, collaboration for better technology, promotion of lab-grown or green diamonds and special provisions for green diamonds in the budget.
PM Modi said today Surat is the Dream City for lakhs of youth. Surat is continuously connecting with international trade centers. Very few cities in the world have such international connectivity, he said.
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