Mumbai gets world’s largest diamond bourse

The Hindu

Mumbai, 18 October 2010: The Bharat Diamond Bourse (BDB), the world’s largest, was inaugurated here on Sunday by Union Commerce and Industry Minister Anand Sharma. “As on today, in 2009-2010, the export of diamonds in this industry from Mumbai is Rs. 61,000 crore and I am hopeful that within a year, this bourse will achieve a turnover of over Rs. 1,00,000 crore,” he said.

 

“Our relation with the bourse goes back long in history.” The BDB, located in the Bandra-Kurla complex, “has an area of 20 acres, with 18 lakh square feet of built-up area. There is a 10-lakh sq.ft. basement parking area which is unique, being the largest in the world. [At any given time, 2,200 cars can be parked.] This bourse is going to be an international, world-class diamond trading hub with facilities like banking, freight forwarding, consolidation, insurance, security surveillance, etc, all in the same complex.”

 

WORLD-CLASS FACILITY: (From left) Union Commerce and Industry Minister Anand Sharma, Maharashtra Chief Minister Ashok Chavan and Petroleum Minister Murli Deora at the inauguration of the Bharat Diamond Bourse in Mumbai on Sunday.

 

The BDB has been set up to establish infrastructure for promotion of diamond export, including jewellery, and provide all support and service facilities to eventually make India an international trading centre for gems and jewellery. Spread over a 20-acre plot, the complex is designed to house around 2,500 small and large diamond traders in addition to a Custom House, banks and other service providers who will cater for the gem and jewellery trade.

 

Office space is spread across nine towers of nine floors each, each tower connecting from the second to sixth floor by a 1.5-km link. Over the last few years, India has been one of the acknowledged leaders in cutting and polishing of diamonds and one of the primary sectors manufacturing coloured gemstones. In spite of the recent economic downturn and its impact on business worldwide, India has maintained its performance in the gem and jewellery sector. Maharashtra Chief Minister Ashok Chavan and Union Petroleum Minister Murli Deora were present at the function.