Surat Diamond Bourse Set to Launch India's Largest SNZ for Rough Diamonds
The Gems and Jewellery Export Promotion Council (GJEPC) has revealed intentions to inaugurate the most extensive Special Notified Zone (SNZ) in the country for the import and trading of rough diamonds at the Surat Diamond Bourse (SDB). Emphasizing the council's contribution, Gujarat Regional Chairman Vijay Mangukiya underscored its role in bringing to fruition Prime Minister Narendra Modi's vision for establishing the SNZ. This concept was initially introduced at the World Diamond Conference in Delhi in 2014.
He mentioned that the groundwork for the SNZ at the SDB is underway, and an official announcement is pending government approval. He conveyed optimism that the forthcoming zone would enhance industry benchmarks, encourage global cooperation, and propel the Indian diamond sector to unprecedented achievements.
The forthcoming SNZ at the bourse features 15 fully-equipped cabins, a high-security monitoring room, and a 24/7 security system. Spanning 4,500 square feet, it is poised to become India's largest SNZ. Since its inception in 2015, the SNZ has hosted major mining companies, including Alrosa, De Beers, Rio Tinto, Dominion Diamonds Corp, and Okavango Diamond Company.
The SNZ has witnessed over 25,000 visitors showcasing more than 15 million carats of rough diamonds valued at over $3 billion. With 4,500 offices across its 45 floors in a complex spanning 35.54 acres, the Surat Diamond Bourse is set to offer a multitude of benefits to both domestic and international diamond traders. With this project, Surat's diamond trade, currently worth Rs 2 lakh crore, is expected to double to Rs 4 lakh crore annually.
