On July 5, the Surat Diamond Bourse (SDB)'s Committee announced that 190 companies would open their offices simultaneously in Surat Diamond Bourse on November 21, after Diwali to conduct business. Dinesh Navadiya, a senior member of the SDB's committee said that 190 companies have taken this decision unanimously.
According to reports, there is tension between the diamond merchants of Surat and Mumbai over the offer of maintenance relief by Surat Diamond Bourse to leave Mumbai and open an office in Surat.
The SDB comprises around 4,500 offices. However, out of these offices, only 190 diamond companies have expressed readiness to start operations from November 21.
The official inauguration of the SDB was earlier planned to be held by Prime Minister Narendra Modi, but so far no announcement has been made by the office-bearers.
The SDB committee member Dinesh Navadiya said, “The official inauguration of SDB will be announced soon. PM Modi may inaugurate the SDB before or after November 21, but the diamond companies will certainly start operations on the given date."
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
