Upcoming Surat Diamond Bourse attracting native businesses from Mumbai

Upcoming Surat Diamond Bourse attracting native businesses from Mumbai

With world's largest diamond trading complex coming up in Surat by 2022, many diamond manufacturers are shifting base from Mumbai to this Gujarat city.

Although Surat manufactures almost 80 percent of the diamonds in the world, the export and other dealings take place largely in Mumbai.

However, due to expensive rents and delay in export in Mumbai, businesses are getting attracted to Surat, already a hub of diamond manufacturing, to shift their business needs.

Shivam Navadiya, a diamond manufacturer, mentioned the above reasons for his decision to return to Surat.

Dinesh Navadiya, regional chairman of GJEPC (Gem and Jewellery Export Promotion Council) said that bookings for around 4500 offices at upcoming Surat Diamond Bourse have already been placed, and small diamond businessmen have already shifted from Mumbai due to halt in business in Maharashtra amid the COVID-19 pandemic.