Surat Exchange to Launch in Spring 2023
Construction of the Surat Diamond Bourse (SDB) is complete, paving the way for the Indian industry’s newest exchange to open in the spring of next year, according to the organization behind the development.
“I would like to congratulate all the members for the grand success of Surat Diamond Bourse, and I really wish that all the members will start their business activities from Surat Diamond Bourse in the first phase with great joy and enthusiasm,” Vallabhbhai Patel, chairman the SDB project and of polished manufacturer Kiran Gems, wrote in a letter to members on November 16.
The SDB, which is scheduled to open in March or April, will cover 35.54 acres, containing 4,500 offices across approximately 600,000 square meters. On November 7, the government granted permission for the building to become operational, Patel noted. Indian Prime Minister Narendra Modi will inaugurate the bourse.
Members should “ignore” rumors that “work is still pending, [the] project will be delayed, [and the] project will not be successful,” the executive wrote. “Various attempts were made by several negative people in the market to damage the precious image of Surat Diamond Bourse,” he added.
Image: The Surat Diamond Bourse under construction. (Surat Diamond Bourse)