Surat: A year since its inauguration, Surat Diamond Bourse (SDB), the world's largest office building, is yet to become fully operational. Despite the building being sold out, diamond businesses are taking time to shift there from the diamond markets of Mumbai and the traditional markets in the city. The global slowdown in the diamond business is said to be the key reason for the missing enthusiasm.
PM Narendra Modi inaugurated SDB on Dec 17, 2023.
Of the 4,200 offices, almost all have been sold, but just 150 offices are being used. Throughout the year, events were held to announce offices becoming operational, to encourage others. Meanwhile, the bourse has set up services and facilities to support businesses.
"It has a functional customs house, and some leading diamond companies have started importing and exporting diamonds directly from SDB. Leading companies such as Kiran, Shree Ram Krishna, Dharmanandan, HVK, Bhagwati Gems and others are directly importing at SDB," said Nagji Sakariya, vice-president of the SDB committee.
Sakariya's company recently opened its office at the SDB. Before this, the president of the SDB committee, Arvind Shah, also opened his office.
Apart from the customs house, SDB has operational branches of six banks, a safe deposit vault, travel desk services and a diamond processing facility. It also has three restaurants and a cafeteria.
"A draw for the allotment of 152 cabins was held recently for diamond traders and the numbers have already been allotted. They will get possession of the allotted cabins in Jan and work on setting up these cabins is continuing," said an SDB official.
Some 1,000 brokers from Mahidharpura have registered for SDB. Registered brokers will be able to visit offices of diamond manufacturers and traders to inspect diamonds. At SDB, brokers will be able to check diamonds from multiple suppliers at one place and will be able to show diamonds to multiple buyers as well.
To encourage traders from Mahidharpura to start operations from offices in SDB, the management team recently met them in Mahidharpura. The traders assured the authorities that they would start operations at SDB soon.
Surat: A year since its inauguration, Surat Diamond Bourse (SDB), the world's largest office building, is yet to become fully operational. Despite the building being sold out, diamond businesses are taking time to shift there from the diamond markets of Mumbai and the traditional markets in the city. The global slowdown in the diamond business is said to be the key reason for the missing enthusiasm.
PM Narendra Modi inaugurated SDB on Dec 17, 2023.
Of the 4,200 offices, almost all have been sold, but just 150 offices are being used. Throughout the year, events were held to announce offices becoming operational, to encourage others. Meanwhile, the bourse has set up services and facilities to support businesses.
"It has a functional customs house, and some leading diamond companies have started importing and exporting diamonds directly from SDB. Leading companies such as Kiran, Shree Ram Krishna, Dharmanandan, HVK, Bhagwati Gems and others are directly importing at SDB," said Nagji Sakariya, vice-president of the SDB committee.
Sakariya's company recently opened its office at the SDB. Before this, the president of the SDB committee, Arvind Shah, also opened his office.
Apart from the customs house, SDB has operational branches of six banks, a safe deposit vault, travel desk services and a diamond processing facility. It also has three restaurants and a cafeteria.
"A draw for the allotment of 152 cabins was held recently for diamond traders and the numbers have already been allotted. They will get possession of the allotted cabins in Jan and work on setting up these cabins is continuing," said an SDB official.
Some 1,000 brokers from Mahidharpura have registered for SDB. Registered brokers will be able to visit offices of diamond manufacturers and traders to inspect diamonds. At SDB, brokers will be able to check diamonds from multiple suppliers at one place and will be able to show diamonds to multiple buyers as well.
To encourage traders from Mahidharpura to start operations from offices in SDB, the management team recently met them in Mahidharpura. The traders assured the authorities that they would start operations at SDB soon.