PM Modi Inaugurates Surat Diamond Exchange, Surpasses Pentagon as World's Largest Office

17 Dec, (VNI) : In a historic event today, Prime Minister Narendra Modi officially opened the Surat Diamond Exchange, solidifying its position as the largest office complex globally and surpassing even the renowned Pentagon. Spanning an expansive 6.7 million square feet, the Surat Diamond Bourse was completed in July at a cost of ₹32 billion, outclassing the Pentagon, which has stood since 1943 with an area of 6.5 million square feet. This newly unveiled complex not only showcases India's economic prowess but also marks a pivotal achievement in consolidating the diamond industry within a single hub. Surat, often hailed as the "Diamond City," has been a frontrunner in diamond processing, handling around 90% of the world's rough diamonds that are cut and polished before making their way to global markets, including the United States and China. The Surat Diamond Bourse boasts a cutting-edge 'Customs Clearance House' dedicated to Import-Export operations, a sophisticated jewelry mall catering to retail businesses, and a facility providing international banking services alongside secure vaults. This comprehensive infrastructure is poised to revolutionize the diamond trade, enhancing efficiency and bolstering global competitiveness. Situated within the Diamond Research and Mercantile City, modeled after the successful Gujarat International Finance Tec-City (Gift City), the Surat Diamond Exchange is yet another landmark project under Prime Minister Modi's visionary leadership. Comprising nine impressive 15-story towers and accommodating approximately 4,700 offices, this colossal complex is expected to redefine the landscape of the diamond industry. According to media input around 130 offices are already operational, signaling the beginning of what is anticipated to be a thriving hub for the global diamond trade. The inauguration ceremony witnessed the presence of dignitaries, industry leaders, and stakeholders, symbolizing a collaborative effort to propel India to a dominant position in the global diamond market. The Surat Diamond Exchange, with its state-of-the-art facilities and strategic location, is poised to play a pivotal role in shaping the future of the diamond industry, fostering innovation and reinforcing India's standing as a key player in the global economic arena