What's special about Surat Diamond Bourse, world's largest office building?
What's the story
Prime Minister Narendra Modi inaugurated the Surat Diamond Bourse (SDB) on Sunday. With over 67 lakh square feet of office area, the SDB is the world's largest and most advanced center for the international diamond and jewelry trade. The complex—situated in Khajod village near Gujarat's Surat—is even larger than the Pentagon building, which previously held the world's largest office building title. The bourse will function as a global center for rough and polished diamonds as well as jewelry.
Details
Custom Clearance House, Jewelry Mall and more
The SDB features a cutting-edge Customs Clearance House for import and export, a jewelry mall for retail business, and amenities for international banking and secure vaults. SDB's media convener Dinesh Navadiya revealed that numerous diamond traders have already claimed their offices, which were distributed by the management through auction. Notably, the complex is a component of the Diamond Research and Mercantile (DREAM) City project, which commenced with a ground-breaking event in February 2015.
What Next?
SDB's impact on India's economy
Housing nearly 4,500 diamond trading offices and 65,000 workforces, the bourse is touted to significantly impact India's US$3.75 trillion economy. Constructed on a 35.54-acre plot within DREAM City, the massive structure consists of nine 15-story towers, providing office spaces ranging from 300 sq ft to 1 lakh sq ft. PM Modi, in a post on X, emphasized the complex's importance, describing it as "a symbol of steadfast commitment to excellence in the realm of precious gems."
Twitter Post
PM Modi showers accolades on SDB
Today marks a special milestone with the inauguration of the Surat Diamond Bourse. This world-class hub is set to revolutionize the diamond industry, enhancing India's global presence in gem trade while boosting local economy and employment. pic.twitter.com/yITxZ8BioV
— Narendra Modi (@narendramodi) December 17, 2023
Details
1.5 lakh people to get jobs because of SDB
Despite its gigantic area, navigating between the 15 floors is expected to take less than six minutes due to the presence of 131 sophisticated elevators. Moreover, the underground parking space can accommodate 4,500 cars and 10,000 two-wheelers. "Surat diamond industry has been giving employment to around 8 lakh people, and with the coming up of new diamond bourse, 1.5 lakh more of them will get jobs," PM Modi said.
Insights
New terminal building at Surat Airport
SDB's inauguration was preceded by PM Modi launching the new integrated terminal building at Surat Airport. The new terminal is stated to accommodate 1,200 domestic and 600 international passengers during peak hours, with provisions to expand capacity to 3,000 passengers and an annual handling capacity of 55 lakh passengers. The event was also attended by Gujarat Chief Minister Bhupendra Patel and Union Minister Darshana Jardosh. On Friday, the Union Cabinet cleared the proposal to turn the airport international.