Today, the world’s largest office, the Surat diamond exchange, was inaugurated by Prime Minister Narendra Modi, surpassing the Pentagon in size.
Completed in July at a cost of ₹ 32 billion, it has a constructed area of 6.7 million square feet. The US landmark is 6.5 million square feet in size and was first opened in 1943.
Modern “Customs Clearance Houses” for import-export, a jewellery mall for retail jewellery businesses, an international banking facility, and safe vaults are all part of the bourse.
While Surat, also referred to as “Diamond City,” dominates in the processing of precious gems, Mumbai has long been the centre of India’s diamond exports, accounting for 90% of the world’s rough diamonds that are cut and polished before being sold to buyers in the US and China. The goal of the new exchange is to consolidate the sector under one roof.
The new complex is housed within Diamond Research and Mercantile City, another of PM Modi’s signature projects. This business district is fashioned after Gujarat International Finance Tec-City. It has roughly 4,700 offices spread across nine 15-story towers. The president of the Surat Diamond Bourse, Nagjibhai Sakariya, states that about 130 offices are currently in operation.
