Prime Minister Narendra Modi asserted on Sunday that the recently inaugurated Surat Diamond Bourse stands as a testament to 'Modi ki Guarantee'. He emphasised that this bourse signifies the spirit of a new India and the nation's unwavering determination. Describing it as another jewel in the crown of Surat city, he highlighted the grandeur added by this diamond trading hub. Addressing the audience, Prime Minister Modi also celebrated the upgraded status of Surat Airport, noting that the newly inaugurated terminal has now achieved international airport status. The developments mark a significant stride in enhancing the city's economic and infrastructural landscape.
PM Modi inaugurated the Surat Diamond Bourse, poised to become the world's largest and most advanced centre for the international diamond and jewellery trade. This strategic development positions Surat as a global epicentre for both rough and polished diamonds, along with a thriving jewellery market.
PM Modi inaugurates terminal building at Surat Airport
PM Modi inaugurated the state-of-the-art terminal building at Surat Airport in Gujarat. The unveiling ceremony marked a significant milestone for the region, showcasing advancements in aviation infrastructure. The new terminal, equipped with modern amenities and facilities, reflects the government's commitment to enhancing air travel experiences. Prime Minister Modi's presence at the inauguration emphasises the strategic importance of Surat Airport and the broader development goals for Gujarat.
Meanwhile, the Surat Diamond Bourse, a colossal office complex in Gujarat's Surat, is set to officially open today, solidifying the city's aspirations to be the global hub for diamonds. Surpassing the Pentagon in size, this megastructure spans a constructed area of 6.7 million square feet (620,000 square meters), claiming the title of the world's largest office complex.
Completed in July for 3200 crores rupees ($384 million), the Surat Diamond Bourse's inauguration is a significant political win for Prime Minister Narendra Modi in his home state. It aligns with Modi's broader economic initiatives to boost Gujarat's growth, emphasising a business-friendly environment by reducing bureaucratic red tape.
The event further cements Surat's position as the "Diamond City," with a dominant role in processing approximately 90% of the world's rough diamonds. While Mumbai traditionally served as India's diamond export centre, Surat's prowess in cutting and polishing diamonds has elevated its status in the global diamond trade.
Know about Diamond Bourse
Situated within the Diamond Research and Mercantile City, the complex mirrors Modi's flagship project, Gujarat International Finance Tec-City (Gift City). Comprising nine 15-story towers and approximately 4,700 offices, the Surat Diamond Bourse dwarfs international counterparts, including the Israel Diamond Exchange.
The significance of this new complex extends beyond size, aiming to streamline and enhance the diamond trade experience. Already boasting 130 operational offices, the Surat Diamond Bourse aims to further propel Surat's dominance in the diamond industry.
Surat, historically vital in trade links with countries like Britain, the Netherlands, and Portugal due to its proximity to the Arabian Sea coast, witnessed a resurgence in its diamond industry about six decades ago. The city's economic growth accelerated following the discovery of large diamond deposits in Australia and India's economic reforms in the 1990s.
While Mumbai has retained its status as a trading hub, the Surat Diamond Bourse's inauguration signals a paradigm shift, reinforcing Surat's ambition to be recognized as the world's unrivaled diamond capital.
Also read | Cabinet approves declaration of Surat airport as international airport, PM Modi hails decision
