Mumbai: Talking up “Modi ki guarantee” (Modi’s guarantee), Prime Minister Narendra Modi Sunday inaugurated the Surat diamond bourse in Gujarat, touted to be the world’s largest office building, as well as a new terminal at the Surat airport.
The diamond bourse, located at Khajod village near Surat city, is spread across 35.54 acres with a 67 lakh square feet built-up area comprising 4,500 offices for national and international traders.
PM Modi Sunday said the bourse will be a “one-stop solution” for everyone in the diamond industry, from workers to traders, and will employ 1.5 lakh people.
The new airport terminal will cater to an additional load of 1,200 domestic passengers and 600 international passengers during peak hours.
“Everyone these days talks about Modi ki guarantee. After the recent assembly elections, this talk has become even louder. But people of Surat have known about Modi’s guarantee for a long time. Surat diamond bourse is an example of that guarantee,” the PM said at the inauguration.
He recalled how the Surat airport at one point of time used to look dowdy. “One would think a bus station, too, would look better,” he said. “But today, Surat’s people and entrepreneurs are getting two more gifts — today we inaugurated the new terminal of Surat (airport) and, secondly, Surat airport has got the recognition of an international airport. A decades old demand of the people of Surat has been fulfilled today.”
Modi also promised that if he got a third term at the Centre in India, he would propel India’s economy among the world’s top three and “Surat and its diamond industry have a huge responsibility in meeting this target”, he said.
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‘World’s largest office building’
The Surat diamond bourse is said to be bigger than the US Pentagon, which was said to be the world’s largest office building for 80 years.
Surat Diamond Bourse showcases the dynamism and growth of Surat's diamond industry. It is also a testament to India’s entrepreneurial spirit. It will serve as a hub for trade, innovation and collaboration, further boosting our economy and creating employment opportunities. https://t.co/rBkvYdBhXv
— Narendra Modi (@narendramodi) July 19, 2023
“One more diamond has been added to Surat’s grandeur today. It is not ordinary. In fact, it is the biggest diamond in the whole world. Even the biggest buildings across the world pale in comparison to the radiance of this diamond. Now in the entire world whenever someone says diamond bourse, Surat’s name will definitely be mentioned,” Modi said.
The diamond bourse will have its own customs clearing house.
At the inauguration, Modi said, Surat’s bustling community of diamond workers, artisans, traders used to tell him about their problems and how they had to travel to far off places for even little things.
“If they had to go to foreign countries to see and purchase raw diamonds, there used to be a lot of issues. There were supply chain issues too. There was a world diamond conference in Delhi in 2014. And at that time itself, I announced the setting up of a special notified zone for the diamond sector. Today, in the form of the Surat diamond bourse, a large centre for international trade is ready,” the PM added.
He added that all business related to diamonds can happen under one roof now, with there being banking facilities, safety vaults, a mall for retail sale of diamond jewellery and so on.
With the new glitzy diamond bourse operational, along with the facilities of an international airport in Surat, some of Mumbai’s diamond business too is feared to shift to the Gujarat city.
The Surat diamond industry, according to Modi’s estimates, employs eight lakh people, cuts and polishes 90 percent of the world’s diamonds and has been a leader on this front since the 1960s.
However, once polished, the diamonds are sent to Mumbai as the proximity to an international airport helps in sales and exports. The new glitzy diamond bourse and Surat airport’s upgrading to an international base is likely to change that equation, traders from Mumbai fear.
(Edited by Nida Fatima Siddiqui)
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