'Symbol of new India': PM Modi inaugurates Surat Diamond Bourse, unveils international terminal of city airport

PM Narendra Modi with Gujarat CM Bhupendra Patel during the inauguration of Surat Diamond Bourse (PTI Photo)

Prime Minister Narendra Modi on December 17 inaugurated the Surat Diamond Bourse (SDB), which is said to be the "world's largest office building" spanning over 67 lakh square feet of floor space.

The bourse is envisioned to become the global epicenter for international diamond and jewellery trade, encompassing both raw and refined diamond.

"One more diamond is added to Surat's grandeur. The diamond is not small but the world's best. Even the biggest buildings of the world pale before the glint of this diamond," Modi said, while addressing a gathering following the inauguration. "This building is the symbol of new strength and determination of new India," new agency PTI quoted him as saying.

Additionally, the prime minister unveiled the new terminal at Surat Airport, an international airport project with a total cost of Rs 353 crore. This terminal, designed with a blend of heritage aesthetics and sustainability features, is aimed at facilitating seamless trade and travel, a release noted.

In Pics: Surat Diamond Bourse, the 'world's largest office building'

Bigger than Pentagon

Situated in Khajod village near Surat city, SDB boasts the title of the world's largest office complex, spanning over 67 lakh square feet of floor space. It has surpassed the size of Pentagon, the US defence headquarters, which is spread across an area spanning 65 lakh square feet in Virginia

The entire SDB megastructure comprises of nine 15-storey towers, which house a total of around 4,700 offices. The project is part of the Diamond Research and Mercantile (DREAM) City.

The bourse's size is also larger than the Israel Diamond Exchange, which is spread across an area of 80,000 square metres and houses over 1,000 offices.

The complex's construction was concluded in July at a cost of Rs 3,200 crore. It was completed around eight years after the then Gujarat chief minister Anandiben Patel had laid its foundation stone, in 2015.

The new bourse is expected to add 150,000 jobs, Modi said, while pointing out that Surat's diamonds industry already provides employment to an estimated 800,000 persons.

Notably, the SDB complex will comprise a state-of-the-art ‘Customs Clearance House’ for import–export, a jewellery mall for retail jewellery business and a facility for International Banking and Safe Vaults.

Preceding the inauguration, numerous diamond traders, including those previously based in Mumbai, took possession of their offices, allotted through auctions, as highlighted by Dinesh Navadiya, the media convener for the Surat Diamond Bourse.

The project, however, has drawn criticism from a section of the Opposition. "Earlier, diamond trade used to take place in Bandra Kurla Complex of Mumbai. Now, it has been shifted from here to Gujarat. Lakhs of people got employment due to this market. Due to the diamond trade going to Surat, the local people will lose their jobs," news agency ANI quoted Nationalist Congress Party (NCP) Sharad Pawar as saying.