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Source: The post is based on the article “Surat Diamond Bourse inaugurated in Gujarat” published in “The Hindu” on 18th December 2023
Why in the News?
The Prime Minister has inaugurated Surat Diamond Bourse (SDB) in Gujarat.
What is Surat Diamond Bourse (SDB)?
1) Surat Diamond Bourse (SDB) is a global centre for trading of both rough and polished diamonds as well as jewellery.
2) Designed by: An architecture firm named Morphogenesis.
3) Aim: To shift the diamond trading business from Mumbai to Surat, which is the hub of diamond cutting and polishing with thousands of factories across the city.
4) Features: It will consist of-
a) State-of-the-art ‘Customs Clearance House’ for import and export.
b) Jewellery mall for the retail jewellery business.
c) Facility for international banking and safe vaults.
5) Significance: It is the world’s largest diamond trading hub. It is also the world’s largest office building ahead of The Pentagon.
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