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#MUMBAI #SURAT #diamond
The Diamond City has remained the distant cousin of India’s commercial capital Mumbai for years now. Surat has been world’s diamond polishing hub, but 90% of the gems are sent to Gujarati merchants in Mumbai for exports. But the cousins have now much come closer! The glitter of Surat Diamond Bourse (SDB) coming up in the iconic Diamond Research and Mercantile (DREAM) City has become a magnet for Mumbai businessmen who have started settling in Surat for good. According to industry estimates, nearly 2,500 diamond merchants and company owners have shifted base from Bharat Diamond Bourse (BDB) in Bandra Kurla Complex (BKC) in the last one-and-a-half years.Surat Diamond Bourse (SDB) made a bold offer to the Mumbai diamond traders to leave Maharashtra in favour of Gujarat. Now, the Surtis have offered the Mumbai traders a gold name plate on the main board of the diamond trade centre in Surat.
There is a buzz that several Mumbai traders have already bought offices at the SDB and many more are likely to permanently shift to Surat after the office’s inauguration early next year.
The Surat Diamond Bourse has offered Mumbai traders a waiver of the maintenance charge for the first six months and promised to display their names in the reception area for lifetime. The Bharat Diamond Bourse at Bandra-Kurla Complex in Mumbai had objected to the offer, and even the Shiv Sena, which was then heading the coalition government in the state, had opposed the offer.
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