On December 17th Prime Minister Narendra Modi of India officially inaugurated the Surat Diamond Bourse in the state of Gujarat, India. Boasting a constructed area of 6.6 million square feet, the Surat bourse becomes the world’s largest office complex, surpassing Washington D.C.’s Pentagon which opened 80 years ago and covers 6.5 million square feet. The new bourse will create 150,000 new jobs and become a “one-stop shop” for artisans and businessmen, said Modi during the inauguration.
Encompassing everything from rough and polished diamonds to gemological laboratories, cutting-edge machinery, and upscale retail establishments catering to global and domestic buyers, the Surat Diamond Bourse will serve as a comprehensive ecosystem for all facets of the diamond trade.
Built on the premises of DREAM (Diamond Research and Mercantile) City, an ambitious business district spanning a total of 2,000 acres, the edifice features nine interconnected towers, each rising to 15 floors. It offers approximately 4,700 offices ranging from 300 to 7,500 square feet – around 130 of which are already in use, according to bourse president Nagjibhai Sakariya.
Although Mumbai has traditionally served as India’s primary hub for diamond exports, Surat, often referred to as the “Diamond City,” leads in the actual production of those precious gems. Approximately 90% of the world’s rough diamonds undergo cutting and polishing in Surat before being distributed to buyers worldwide, including the US and China. The new bourse will further consolidate Surat’s diamond industry by bringing many entities together under one roof.