In an effort to give a new lease of life to the world’s largest office building, the Surat Diamond Bourse (SDB), a meeting has been scheduled with the  Lab Grown Diamond Association (LGDA) on October 5.

Prime Minister Narendra Modi inaugurated the SDB at Khajod in Surat on December 17, 2023. It has since struggled to attract the expected business activity.

Despite the grand opening and investment of over ₹3,400 crore, the bourse has not received the anticipated response, with many offices still unoccupied.

To address this, the bourse committee has invited the LGDA for discussions aimed at the growing lab-grown diamond market into the bourse’s offices.

Currently, only 50 to 60 offices are operational out of 250 offices in the bourse. Mumbai traders visit the bourse every 10-15 days, and around 40 traders have shown interest in opening their offices soon.

Given the current recession in the natural diamond industry, the lab-grown diamond sector is gradually gaining market share. The upcoming meeting aims to facilitate lab-grown diamond trading within the bourse, potentially boosting activity and utilisation of the office at the bourse.

The bourse committee is optimistic that this initiative will help in making the bourse a hub of diamond trade once again.

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