News

Advanced Search

Bharat Diamond Bourse Inaugurated

Oct 17, 2010 5:33 AM   By Avi Krawitz
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... India’s diamond hub is ready to move into its new home following the inauguration of the Bharat Diamond Bourse on Sunday.

More than two decades in the making, and billed as the largest diamond bourse in the world,  the complex will see India’s diamond trading hub transfer from the south of the city, to Bharat, within the city’s financial district and closer to the Mumbai airport.

“The idea for the bourse, which was launched in 1984 to provide basic infrastructure facilities for customs, has evolved into the ultimate destination accommodating the full vertical [spectrum] of the diamond industry,” said Anoop Mehta, president of the Bharat Diamond Bourse. “The bourse will be the spring board from which the Indian diamond industry launches its endeavor to not only be the largest manufacturing center, but also the number one diamond trading center of the world.”

“From small brokers and manufacturers to the largest exporters, they will all have their offices in this complex,” he added.

The bourse complex covers a 20 acre plot of land with 1.8 million square feet of office space encompassing 2,400 offices, ranging in size from 150 to 25,000 square feet. The office space is spread across nine towers of nine floors each with each tower connected from the second to the sixth floors through a 1.5 kilometer link.

The bourse trading floor will cover an area of 6,200 square feet, while the customs area is 12,000 square feet in size and the clearing agents area measured at 6,750 square feet. The complex includes a one million square feet basement parking area, which can house 2,200 cars at any given time.

The complex was inaugurated by minister for commerce and industry Anand Sharma, minister for petroleum and natural gas and chief minister of Maharashtra Murli Deora, among others.  

Avi Paz, president of the World Federation of Diamond Bourses (WFDB), said that the bourse was a milestone for international diamond community given the prominent role India plays in the industry.

Most of the companies still have to move into the complex but India’s Kimberley Process customs operations are set to start operating from the bourse on Monday (October 18).

More information about the bourse can be found at www.bdbindia.org

 

 

Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Avi Krawitz, Avi Krawitz, India
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.