The Surat Diamond Association (SDA) is looking forward to the opening in Surat of the Surat Hira Bourse diamond exchange after the Dubai-based Gold Souk and the Dubai Multi Commodities Center (DMCC) have decided to form an alliance with the government of the Indian state of Gujarat.
According to some reports, an appropriate decision was made during the recent visit of the Minister of Finance of Gujarat Saurabh Patel (Saurabh Patel) to Dubai, according to Business Standard.
However, SDA President Dinesh Navadiya said: "We have not received any official notifications from the state government. However, this trip gave impetus to the development of Surat Hira Bourse at the international level. To date, we have received from traders about 9,500 requests for the provision of premises with a total area of ​​70,000 - 80,000 square meters. yards. We hope in the near future to receive a response from the government regarding the provision of land. "
The Association seeks to attract international diamond traders, including from the West Asia region.
Currently, the process of registration of Surat Hira Bourse is in progress, and it is expected that the exchange will start working in two years. Investments in construction are estimated at 20 billion rupees. The exchange will unite all participants of the precious stones industry under one roof.
According to Kirti Shah, a diamond cutter and a trader from Surat, a number of issues need to be resolved before the exchange is launched. "The absence of an international airport will have a negative impact on the development of the exchange. And for the implementation of this project, it is first of all necessary to obtain land, and delays in allocating land can again postpone the completion of construction, "Shah said.