World's largest diamond exchange began operating in India
The world's largest Surat Diamond Exchange has officially started operating in India, TASS reports
The city of Surat in the western state of Gujarat is the centre of diamond processing in India. In 2022, the construction of a new office complex for the Surat Diamond Exchange was completed, and the building was listed in the Guinness Book of World Records in August as the largest office building in the world, overtaking the American Pentagon. The status of the world's largest diamond exchange previously belonged to the Bharat Diamond Exchange in Mumbai.
“The Surat Diamond Exchange demonstrates the capabilities of Indian architecture, designers, concepts and materials. This building is a symbol of the possibilities of the new India and its determination," Narendra Modi said at the ceremony.
The Indian Prime Minister is confident that the launch of the Surat Diamond Exchange will help centralise the work of the diamond processing sector and create about 150,000 jobs. He also appealed to Surat businessmen and urged them to increase the trade in jewellery, which will help contribute to the growth of the country's economy. The PM noted that – although India has a leading position in the diamond trade – its share in the global jewellery trade is just 3.5 percent, but the country has the potential to ‘hit double digits’.
