Without the support of the government, the diamond traders of Surat have created the world’s largest diamond business hub at an expense of approximately Rs 3400 crore. This diamond hub named Surat Diamond Bourse has also got the title of the world’s largest building, Mumbai and Maharashtra government are going to get a big shock in the form of tax due to Surat Diamond Bourse built in Surat, because Gujarati diamond traders settled in Mumbai have closed their business and started migrating towards Surat.
For years, Surat city has been called Diamond City. The diamonds cut in the diamond factories of Surat City are exported to different countries of the country and the world. This diamond business provides employment to millions of people. Mumbai has been used to send diamonds cut in Surat’s diamond factories to different countries of the world. Due to the presence of an international airport in Mumbai, the diamond traders of Surat had to set up a separate office in Mumbai. Through which the diamonds cut in Surat were exported from Mumbai to different countries of the world.
Surat Diamond Bourse has all the facilities that the diamond traders of Surat needed. now the diamond traders of Surat, who do diamond business in the world through Mumbai, are closing their diamond business from Mumbai and migrating to Surat.
Dinesh Bhai Navadia, former president of Surat Diamond Association and committee member of Surat Diamond Bourse, said that 9 towers of 14 storeys each were built on the 67 lakh square feet land of the Dream City Project announced by the government in Khajod area of Surat. There are 4300 offices of different diamond companies in these towers. These offices were bought by diamond traders even before the buildings were ready. This Surat Diamond Burse has been prepared at a cost of approximately Rs 3400 crore. Diamond traders had purchased land here from the government by paying more than the market value, so that the diamond traders of Surat and Mumbai could be brought under one roof.
Dinesh Bhai said that till now, to send diamonds to different countries of the world, the businessmen of Surat had to keep their separate office staff in Mumbai, open an office and because of the international airport, they had to do business from Mumbai only. But now Surat Diamond Burse has all the facilities which a diamond trader needs. The world’s largest custom house is ready. Now international flights will also start from Surat Airport, due to which, the diamond traders of Surat will be able to do their diamond business across the world from Surat instead of Mumbai.