Latest news with #SuratDiamondBourse
Time of India
31-07-2025
- Business
- Time of India
Now, LGD growers to be prodded to move to SDB
Surat: Efforts to fully utilize the world's largest office building, Surat Diamond Bourse, are set to speed up as the govt moves to encourage lab-grown diamond growers to start offices there. Tired of too many ads? go ad free now Among the leading LGD players, Kira Diamond, a sister concern of Kiran Gems, has an office in SDB, while a few natural diamond companies, such as Shree Ramkrishna Exports and Dharmanandan Diamonds, have operational offices there too. Recently, minister of state of home Harsh Sanghavi met 700-odd traders and brokers from Mahidharpura in the presence of Govind Dholakia, BJP Rajya Sabha member and leading diamond unit owners. He urged the businessmen to start offices in SDB on Jan 23, 2026, the auspicious day of Vasant Panchmi according to Vikram Samvat. The traders assured Sanghavi they would start work on furniture and move to SDB. "After the Mahidharpura businessmen, we are going to encourage LGD growers, manufacturers and traders to start operations in SDB. Some leading players have already bought premises there and are getting them furnished," Sanghavi told TOI. Some top LGD growers and processors are yet to open offices in SDB. These companies are the top LGD suppliers to the world. Efforts are being made for all segments of the market to shift to SDB, to create an ecosystem for proper functioning of the market. Processors of natural diamonds and LGDs are being encouraged to open offices to display their products. This will speed up trade. "It is important that all segments start operating at SDB. Tired of too many ads? go ad free now That will give shape to a market where the full spectrum of the trade is possible at one place with world-class infrastructure," added Sanghavi. Several efforts have been made to make SDB operational in the last four years, and the inauguration by PM Narendra Modi in Dec 2023 was one of the major pushes. However, due to adverse market conditions in diamond processing and trading, businesses are sceptical about starting operations at a new place. At SDB, banks, locker facilities and state-of-the-art security arrangements already exist. Angadia services will be on offer from Jan 2026, making it easy for businesses to transfer valuables and cash. A customs office has also been made operational. Bus services from various areas will be provided for smooth transport.
Time of India
29-07-2025
- Business
- Time of India
Diamond businesses encouraged to shift to SDB on Jan 23
Surat: In its fourth year of attempts to make the Surat Diamond Bourse (SDB) fully operational, a meeting was held to encourage diamond businessmen from Mahidharpura and Mini Bazaar to make the move to SDB. Tired of too many ads? go ad free now For the first time, a state govt representative was present. This was the second meeting in four days during which minister of state for home and industries Harsh Sanghavi encouraged diamond businessmen and brokers to shift to SDB together on Jan 23, 2026, the auspicious day of Vasant Panchmi of the Vikram Samvat. The meeting was also attended by BJP Rajya Sabha member Govind Dholakia, who is also the SDB chairman. Prime Minister Narendra Modi inaugurated the world's largest office building, SDB, in Dec 2023. The meeting, held at Modh Vanik Vadi near Surat railway station, saw some 700 diamond businessmen and brokers participate along with SDB committee members. Business leaders announced a common date so that the entire market can shift together. Businesses that already have offices there were asked to start furniture work. "World-class infrastructure has been made available for the use of the diamond business at nominal cost and businesses should take advantage of it. Brokers can get a cubicle for just Rs 15,000 rent without any extra charges," said Sanghavi. Further explaining the advantages, Sanghavi said that traders and brokers would be able to do business at one place. To encourage diamond traders to shift their place of business from Mahidharpura to SDB, Sanghavi said that angadia services would also be made available at SDB for the safe transfer of valuables, including cash and diamonds. Tired of too many ads? go ad free now "We are trying to ensure that the majority of businesses shift to SDB. In the past, a handful of have businesses shifted. As there was no trade happening, they closed and returned to their old offices back in Mahidharpura," said a diamond trader. The diamond businessmen and brokers told Sanghavi that it is important for manufacturers to start their offices in SDB. "Manufacturers need to open their offices at SDB instead of at their manufacturing units so their the products are available for examination. This will create a better ecosystem," said a trader who was part of the meeting. "Businessmen and brokers will be provided with public transport facilities from various areas so that they can reach SDB easily. The required infrastructure is available at SDB," said Sevanti Shah, a diamond businessman. "The SDB committee has been discussing and providing updates to Sanghavi during the past few days, and after considering various points, the minister has come to encourage businesses to shift to SDB. We are hopeful that traders will support positively," said Dholakia.
Indian Express
04-06-2025
- Business
- Indian Express
Plan to extend bullet train, coastal road to Vadhavan Port region in Palghar: CM Devendra Fadnavis
Chief Minister Devendra Fadnavis on Wednesday said that the state government is actively working on plans to extend the Mumbai-Ahmedabad bullet train corridor and Coastal Road to the Vadhavan Port region in Palghar district, where a new urban node 'Fourth Mumbai' is being developed. Speaking at an investor summit organised by Bank of America Securities in Mumbai, Fadnavis said that the area will host India's largest port as well as a new international airport, both of which have received clearance from Prime Minister Narendra Modi, 'This area will host India's largest port and a new international airport, for which green light has already been given by the Prime Minister. Plans are also in motion to extend the bullet train and coastal road up to this region,' he said. Allaying concerns that improved connectivity with Gujarat through the bullet train corridor might lead to businesses shifting out of Mumbai, Fadnavis said that it will not take away any businesses out of Maharashtra. 'There is no way that such connectivity will take away any business from Mumbai,' he said. Referring to concerns raised in the wake of the Surat Diamond Bourse, the Chief Minister said Mumbai's diamond trade — concentrated in Bandra-Kurla Complex (BKC) and parts of South Central Mumbai — remains robust and unaffected. 'In fact, prices for local diamond trading units in Mumbai have gone up by 40 per cent in the past two years,' he added. Fadnavis also spoke about Mumbai's continued dominance in the financial services sector. 'All the big fintech names are investing in BKC. We are selling BKC land at record-breaking prices—these are unheard-of figures,' he said. Dismissing the perception of Mumbai losing its competitive edge, the Chief Minister said, 'I don't see any challenge. Mumbai remains the first choice for global and domestic investors in financial services.' Stressing the need for a collaborative approach to national development, Fadnavis said states are not in competition with one another. 'We have to work in synergy across India,' he said. The 'Fourth Mumbai' project around Vadhavan Port is part of the state's broader plan to decongest the financial capital and unlock new zones for trade, infrastructure, and residential expansion.
