Surat: Prime Minister Narendra Modi is scheduled to inaugurate the Surat Diamond Bourse in Gujarat on Sunday (17 December). Touted to be the world’s largest and most modern centre for international diamond and jewellery business, the SDB has been shifted from Mumbai to Surat. Prime Minister Modi will also inaugurate the new terminal building of Surat Airport built at ₹353 crore on Sunday.
India reigns supreme in diamonds, polishing 70% of the world’s gems. Its bustling hubs like Surat and Mumbai cut and polish rough stones, employing over 850,000. This mastery fuels a $23 billion export engine, shimmering with promise. Yet, challenges loom. Synthetic diamonds rise, ethical sourcing demands attention, and the industry strives to adapt. While the path may sparkle, navigating it requires agility and innovation to keep India’s diamond light burning bright.
Meanwhile, A court in Surat has directed the SDB to furnish a bank guarantee of ₹100 crore to a construction firm in a case of alleged non-payment of dues of ₹631.32 crore. The SDB has been dragged to the court by PSP Projects which built the SDB building near Surat city. The firm alleged before the court that even after it completed the construction and handed over the possession of the building to the bourse over a year ago, the SDB management did not make the final payment of ₹538.59 crore. With interest, the amount stood at ₹631.32 crore, the firm said.
Later, PM Modi will set off to Varanasi for a two-day visit where he will flag off the city’s second Vande Bharat running between Varanasi and Delhi, PM confirmed through a tweet yesterday.
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