India (Commonwealth Union)_ Prime Minister Narendra Modi inaugurated the Surat Diamond Bourse (SDB) in Surat, Gujarat, unveiling what is touted as the “world’s largest office building,” covering an expansive 67 lakh square feet of floor space in Gujarat. The SDB aims to emerge as the global hub for the international diamond and jewelry trade, encompassing both raw and refined diamonds. In his address following the inauguration, Modi expressed, “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.” He emphasized that the building symbolizes the new strength and determination of a new India.
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Additionally, the Prime Minister revealed the new terminal at Surat Airport, an international airport project at an overall cost of Rs 353 crore. Designed with a fusion of sustainable elements and heritage sensibilities, this terminal seeks to facilitate seamless commerce and travel. Located in Khajod village near Surat city, the SDB claims the distinction of being the world’s largest office complex, surpassing the Pentagon, the US defense headquarters. Spanning over 67 lakh square feet, the megastructure comprises nine 15-storey towers, housing around 4,700 offices. This monumental project comes under the Diamond Research and Mercantile (DREAM) City.
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The SDB’s magnitude exceeds that of the Israel Diamond Exchange, spanning 80,000 square meters and housing over 1,000 offices. Completed at a cost of Rs 3,200 crore in July, the complex is anticipated to generate 150,000 jobs, further contributing to the already substantial employment provided by Surat’s diamond industry, employing around 800,000 individuals. The comprehensive SDB complex incorporates a modern ‘Customs Clearance House’ for import–export, a jewelry mall for retail business, and a special facility for International Banking and Safe Vaults.
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Many diamond merchants, including those previously based in Mumbai, acquired their offices through auction prior to the inauguration, as emphasized by Dinesh Navadiya, the media convener for the Surat Diamond Bourse. However, the project has faced criticism from a segment of the opposition. Sharad Pawar of the Nationalist Congress Party (NCP) expressed concern over the shift of the diamond trade from Mumbai to Gujarat, suggesting potential job losses for local people. He said, “Earlier, diamond trade used to take place in the 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”.
