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PM Modi inaugurates Surat diamond exchange, world's largest centre for global diamond and jewellery business
Photo Courtesy: suratdiamondbourse.in

PM Modi inaugurates Surat diamond exchange, world's largest centre for global diamond and jewellery business

| @indiablooms | 17 Dec 2023, 01:28 pm

Surat: Prime Minister Narendra Modi Sunday officially inaugurated the Surat diamond exchange, a facility that is now bigger than the Pentagon, which was the largest office space globally.

Spanning a constructed area of 6.7 million square feet, the complex was finished in July at a total cost of Rs 32 billion.

In comparison, the iconic Pentagon, established in 1943, covers an area of 6.5 million square feet.

Image courtesy: PIB

In a statement, the Prime Minister's Office (PMO) said the Surat Diamond Bourse will be the world's largest and modern centre for the international diamond and jewellery business.

The exchange includes a cutting-edge 'Customs Clearance House' for Import-Export activities, a jewellery mall catering to retail jewellery businesses, and a dedicated space for international banking services and secure vaults.

In August, the building, which is part of the Diamond Research and Mercantile (DREAM) City, was recognised by the Guinness World Records as the largest office building in the world.

Photo Courtesy: suratdiamondbourse.inPhoto Courtesy: suratdiamondbourse.in

Construction of the Surat Diamond Bourse commenced in February 2015 and was completed in 2022. The structure, constructed at an estimated cost of around Rs 3,500 crore, covers a vast floor area of 67 lakh square feet and has the capability to accommodate nearly 4,500 diamond trading offices.

Situated on a 35.54-acre plot, this monumental complex features nine ground towers and 15 floors, offering office spaces ranging from 300 sq ft to 1 lakh sq ft.

The nine interconnected rectangular towers are linked by a central spine.

Notably, the building has been given a platinum ranking by the Indian Green Building Council (IGBC).

A significant development is the relocation of billionaire diamond trader Vallabhbhai Lakhani, the Director of Kiran Gems, who has transferred his Rs 17,000-crore business to the Diamond Bourse, India Today reported.

He is in the process of setting up a mini-township to provide housing for his employees.

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