During his visit to Gujarat, Prime Minister Narendra Modi inaugurated the Surat Diamond Bourse on Sunday. The state-of-the-art facility is equipped with amenities such as international banking services, secure vaults, and a dedicated jewelry mall. This ambitious project is anticipated to generate approximately 150,000 new job opportunities, contributing significantly to the economic growth of the region. The Surat Diamond Bourse stands as a testament to India’s commitment to fostering a thriving diamond industry and reinforcing its position on the global stage.
In the vibrant state of Gujarat, Surat, the birthplace of Prime Minister Narendra Modi, has taken a significant step towards becoming the world’s diamond capital.
On a recent visit, Prime Minister Modi inaugurated the Surat Diamond Bourse, a colossal project spanning 6.6 million square feet. This impressive establishment not only boasts state-of-the-art facilities such as international banking services, secure vaults, and a dedicated jewelry mall but also aims to create a whopping 150,000 new jobs, contributing substantially to the region’s economic prosperity.
(Image source-federal.com)
Surat holds a unique position in the global diamond industry, as it is responsible for cutting and polishing a staggering 90% of the world’s rough diamonds. The city has long been integral to India’s diamond trade, with Mumbai serving as a major hub for Indian diamond exporters. Surat, however, plays a crucial role in the processing of rough diamonds, transforming them into polished gems before they are exported worldwide.
How will Surat’s international connectivity will aid in trade and business ?
The Surat Diamond Bourse marks a significant shift, centralizing the diamond industry and positioning Surat as one of the largest hubs globally. The city’s strategic connectivity plays a vital role in this development. Surat International Airport, metro rail services, and various ports, including the Hazira Port, deep water LNG terminal, and multi-cargo port, facilitate seamless international trade. Surat’s connectivity to international trade centers is a rare feat, with few cities around the world enjoying such extensive global links.
Notably, the Surat Diamond Bourse has earned the title of the world’s largest office building, surpassing even the iconic Pentagon, which spans an area of 6.5 million square feet. This architectural marvel is a testament to India’s commitment to fostering a thriving diamond industry and asserting its global prominence.
Surat’s future looks even brighter with upcoming projects like the Bullet Train and the Western Dedicated Freight Corridor. These initiatives will further enhance Surat’s rail connectivity, linking it to Northern and Eastern India. Additionally, the Delhi-Mumbai Expressway is poised to open up new opportunities for Surat’s businesses, ushering in a new era of growth and development.
PM Modi’s diamond bourse optimistic plans for sparkling future
Prime Minister Modi expressed his optimism about India’s economic trajectory, envisioning the country among the top three global economies in the next two and a half decades. The government has outlined a roadmap for the next 25 years, focusing on the ambitious goals of achieving a 5 trillion-dollar economy and subsequently reaching the milestone of a 10 trillion-dollar economy.
In conclusion, the inauguration of the Surat Diamond Bourse marks a transformative moment for Surat and India’s diamond industry at large. With its world-class facilities, job creation potential, and strategic connectivity, Surat is poised to shine even brighter on the global stage. The city’s journey towards becoming the world’s diamond capital aligns with India’s broader economic goals, setting the stage for a promising and prosperous future.