In an upcoming event this Sunday, Prime Minister Narendra Modi is set to inaugurate the Surat Diamond Bourse, which is touted as the world’s largest corporate office. This expansive complex, occupying a vast 35.54 acres and constructed at a cost of Rs 3400 crore, aims to revolutionize the landscape of polished diamond trading.
About Surat Diamond Bourse
More than just a building, the Surat Diamond Bourse is an architectural marvel, featuring over 4,500 interconnected offices. This sprawling structure, designed in the shape of a Pentagon, establishes itself as the largest corporate office globally.
A Global Trading Hub: 4,200 Traders, 175 Countries, 150,000 Jobs
The Surat Diamond Bourse has the capacity to host 4,200 traders from 175 countries, positioning itself to be the epicenter of global diamond trade. This ambitious venture aspires to generate employment for approximately 150,000 individuals, providing a unique platform for international diamond buyers to seamlessly engage in transactions.
In July, Prime Minister Narendra Modi highlighted the significance of the Surat Diamond Bourse, revealing that it has surpassed the Pentagon, which held the record for the world’s largest office construction for the past 80 years.
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PM Modi’s Vision Behind Surat Diamond Bourse
Acknowledging the importance of the Surat Diamond Bourse, Prime Minister Narendra Modi conveyed his thoughts. He emphasized that the bourse reflects the dynamism and growth of Surat’s diamond industry, serving as a testament to India’s entrepreneurial spirit. Modi envisions the bourse as a hub for innovative exchange and collaboration, foreseeing positive impacts on the economy and employment.
A Global Diamond Hub
Traditionally, Mumbai held the spotlight for diamond exports, but Surat, often referred to as the “Diamond City,” has emerged as a processing powerhouse. Approximately 90% of the world’s rough diamonds are cut and polished in Surat before reaching consumers in countries such as the US and China. The Surat Diamond Bourse aims to centralize this thriving industry, located in Diamond Research and Mercantile City, Surat, with 4,700 offices and 130 already operational, marking a significant milestone in Surat’s economic landscape.
Global Recognition
Surpassing the Israel Diamond Exchange both in size and scope, the Surat Diamond Bourse covers not only a larger area but also provides a comprehensive range of services. While the Israeli complex spans 80,000 square meters, the Surat counterpart stands out as a global diamond trading hub.
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Conclusion
The Surat Diamond Bourse stands as a testament to the corporate growth and dynamics of Surat’s sector, reflecting India’s entrepreneurial spirit. Prime Minister Modi envisions it as a hub for change, innovation, and collaboration, with the potential to boost the economy and create employment opportunities.