Surat Shines as Global Diamond Hub Emerges

The Surat Diamond Bourse in Gujarat is set to become the world's largest hub for Chemical Vapor Deposition (CVD) diamonds within two years. With traders rapidly establishing offices, more than 1,500 are expected to be operational soon, indicating a shift in the diamond trade from Mumbai to Surat.

The Surat Diamond Bourse (SDB) in Gujarat is poised to become the world's largest center for Chemical Vapor Deposition (CVD) diamonds within the next two years, according to Deputy Chief Minister Harsh Sanghavi. During a recent visit, Sanghavi noted the rapid pace of development at the SDB, located in Khajod, Surat.

The center, which will cater to both lab-grown and natural diamonds, is witnessing a significant shift from Mumbai to Surat as traders open offices at an impressive rate. Already, 1,500 offices are expected to be fully operational within a year, with an additional 500 opening within five months.

Daily registrations at the bourse range between 2,800 to 3,200, reflecting burgeoning trade activity. Sanghavi also highlighted that rough diamond traders will soon be able to commence operations, facilitating the complete process from rough to polished diamonds under one roof.

(With inputs from agencies.)