Surat Diamond Bourse: World’s Largest Office Reshaping Global Diamond Trade
The Surat Diamond Bourse (SDB), inaugurated by Prime Minister Narendra Modi, has been launched as the world's largest office complex, ahead of the Pentagon. This state-of-the-art hub in Gujarat, India, aims to centralize the global diamond industry, offering facilities for trade, import, export, and more. It is expected to house 4,200 traders and generate a turnover of over ₹200,000 crore (USD 25 billion) annually.
The bourse is located at DREAM City, a burgeoning business district near Surat, known for processing over 90% of the world's diamonds. It spans 14.38 hectares, featuring nine interconnected towers with diverse office spaces, a dedicated customs clearance center, and India's largest customs clearance center. Despite its ambitious scale, the bourse has faced challenges like poor connectivity and competition from the established Bharat Diamond Bourse in Mumbai.
The CVD Lab Grown Diamonds market, pertinent to the trade at SDB, is expected to grow from USD 11.3 billion in 2022 to USD 15.9 billion by 2027, at a CAGR of 7.1%. This growth is driven by the increasing demand for alternative, environmentally sustainable diamond sources and the rising popularity of lab-grown diamonds among younger consumers. Key players in this market include De Beers, Goldiam, Adamas One Corp, and Sumitomo Electric Industries.
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