Surat Diamond Bourse A NEW BEACON IN THE DIAMOND INDUSTRY
Diamond World|November - December 2023
The SDB, spread over 35.5 acres of land, with nine towers and 4,500 offices is set to generate 1.5 lakh jobs and help achieve the Government's export targets for the gem and jewellery sector
Surat Diamond Bourse A NEW BEACON IN THE DIAMOND INDUSTRY

India’s Prime Minister Narendra Modi inaugurated the Surat Diamond Bourse (SDB) on December 17, 2023, marking a new milestone in the role of Surat in the global diamond and jewellery trade.

The SDB, spread over 35.5 acres of land, has nine towers with 4,500 offices that can accommodate over 67,000 traders. The SDB also boasts a green building that can save up to 50% of energy and water, a Spine-4 structure that can withstand strong earthquakes, and a Panchtatva garden that showcases the five elements of nature.

During his address, the Prime Minister hailed the SDB as a world-class facility that adds a unique gem to the city’s grandeur. He lauded the vision of SDB Chairman, Vallabhbhai Lakhani and Laljibhai Patel of Dharmanandan Diamond Ltd., emphasising their inclusive approach in achieving this monumental feat. Modi expressed confidence that SDB would now stand proudly alongside global counterparts in discussions about diamond trading hubs.

The event was attended by prominent figures, including Governor of Gujarat Acharya Devvrat, Chief Minister of Gujarat Bhupendra Patel, Union ministers Mansukh Mandaviya and Purshottam Rupala, and veteran diamantaires Govindbhai Dholakia and Sevantibhai Shah.

Highlighting the significance of the new facility, the Prime Minister stated, “Surat Diamond Bourse showcases the abilities of Indian designs, designers, materials, and concepts. This building is a symbol of New India’s capabilities and resolutions.” He congratulated the entire diamond industry and the people of Surat, Gujarat, and India on this momentous occasion.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM DIAMOND WORLDView all
GJEPC's IIJS Tritiya: A Grand Showcase of Indian Jewellery Excellence
Diamond World

GJEPC's IIJS Tritiya: A Grand Showcase of Indian Jewellery Excellence

The latest edition of IIJS Tritiya surpassed its predecessor in scale and sophistication, boasting a staggering 900 exhibitors and 1,900 stalls spread across 40,000 square meters. Serving as an expansive marketplace, it facilitated crucial connections and collaborations for industry players, drawing over 15,000 pre-registered visitors from 500 cities in India and 60 countries, which emphasizes its global importance.

time-read
4 mins  |
March - April 2024
Venus Jewel ETHICAL SOURCING, RESPONSIBLE MANUFACTURING AT THE CORE OF VENUS JEWEL
Diamond World

Venus Jewel ETHICAL SOURCING, RESPONSIBLE MANUFACTURING AT THE CORE OF VENUS JEWEL

Venus Jewel began its journey with a vision to revolutionize the industry, and took the bold step of becoming the first to specialize in premium size natural diamond manufacturing in India. This pioneering approach has allowed the company to differentiate itself from competitors, and cater to a unique market segment

time-read
4 mins  |
March - April 2024
GemGenève BUDDING DESIGNERS TO WATCH OUT FOR AT GEMGENEVE
Diamond World

GemGenève BUDDING DESIGNERS TO WATCH OUT FOR AT GEMGENEVE

Visitors to GemGenève's forthcoming edition, between May 9 and May 12, 2024, at Palexpo Hall 1, should not miss the amazing space known as the Designer Village. Bringing together rising stars of the gem and jewellery industry, the Village offers an uplifting overview of some of the most promising talents

time-read
3 mins  |
March - April 2024
Russian Diamond Imports ROUGH DIAMOND IMPORT DOWN BY 8% OWING TO G7-EU BAN: GJEPC
Diamond World

Russian Diamond Imports ROUGH DIAMOND IMPORT DOWN BY 8% OWING TO G7-EU BAN: GJEPC

The phased ban on the import of Russian diamonds imposed by the G7 nations and the EU has thrown the global industry out of gear - India is particularly concerned as the livelihood of millions of people might be impacted. Vipul Shah, Chairman, GJEPC, talks to Suneeta Kaul about the steps that are being taken to address the challenges and mitigate the situation

time-read
5 mins  |
March - April 2024
THE NEW JEWEL IN TOWN: LAB-GROWN DIAMOND JEWELLERY TAKES CENTRE STAGE
Diamond World

THE NEW JEWEL IN TOWN: LAB-GROWN DIAMOND JEWELLERY TAKES CENTRE STAGE

Lab-grown diamond jewellery is not a fad. While many Indian retailers choose to be circumspect about jewellery laden with labgrown diamonds, which are chemically, optically and physically identical to natural diamonds, there is most definitely a revolution happening in this space, driven by demand backed by sheer affordability

time-read
10+ mins  |
March - April 2024
Guinness World Records Recognizes Largest Tanzanite Sculpture
Diamond World

Guinness World Records Recognizes Largest Tanzanite Sculpture

On March 9, 2024, a momentous occasion took place at the Rice Northwest Museum of Rocks & Minerals in Hillsboro, Oregon, marking a historic milestone in the world of gemstones.

time-read
1 min  |
March - April 2024
Signet Jewelers Reports 6.3% Decline in Q4
Diamond World

Signet Jewelers Reports 6.3% Decline in Q4

Signet Jewelers reported a 6.3% decline in total sales to $2.5 billion during the quarter that ended February 3, 2024. Same-store sales were down 9.6%, compared to the previous year.

time-read
1 min  |
March - April 2024
GIA Opens New Lab in Dubai
Diamond World

GIA Opens New Lab in Dubai

Gemological Institute of America (GIA) opened a new, state-of-the-art diamond grading laboratory, GIA Laboratory DMCC (Dubai Multi Commodities Centre) in Dubai on February 19, 2024.

time-read
1 min  |
March - April 2024
WFDB Concludes Annual Presidents' Meeting in Shanghai
Diamond World

WFDB Concludes Annual Presidents' Meeting in Shanghai

The World Federation of Diamond Bourses (WFDB) concluded its annual Presidents’ Meeting for 2024, held in Shanghai, China.

time-read
1 min  |
March - April 2024
GJEPC Presents 50th India Gem & Jewellery Awards to Export Leaders
Diamond World

GJEPC Presents 50th India Gem & Jewellery Awards to Export Leaders

The Gem & Jewellery Export Promotion Council (GJEPC) presented the coveted 50th India Gem & Jewellery Awards (IGJA, to exporters.

time-read
1 min  |
March - April 2024