Know the Surat Diamond Exchange, World’s Largest Office
Prime Minister Narendra Modi today inaugurated the Surat diamond exchange, a complex that has overtaken Pentagon as the world’s largest office.
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What else is special about Surat diamond exchange
It covers a constructed area of 6.7 million square feet and was completed in July at a cost of ₹ 32 billion. The US landmark, which opened in 1943, has an area of 6.5 million square feet.
The bourse comprises a state-of-the-art ‘Customs Clearance House’ for Import-Export; a jewellery mall for retail jewellery businesses; and a facility for international banking and safe vaults.
Although Mumbai has traditionally served as India’s diamond export hub, Surat, often referred to as the “Diamond City,” takes the lead in processing these precious gems. Approximately 90% of the world’s rough diamonds are cut and polished in Surat before being distributed to buyers in countries such as the US and China. The objective of the new bourse is to consolidate the industry within a single facility.
The new complex is located inside the Diamond Research and Mercantile City, a business district modeled after the Gujarat International Finance Tec-City, or Gift City, another one of PM Modi’s flagship projects. It has nine 15-story towers and about 4,700 offices. About 130 offices are already in use, according to Nagjibhai Sakariya, president of the Surat Diamond Bourse.
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