Diamonds are always pride for India. Whether it was the time of maharaja or in present where Richie as maharaja , India is always on top when we talk about diamonds. Diamond trading is big in India. Out of every 10 stones cut and polished in the world, 8 are processed in India. More than 600,000 workers are engaged in this trade in India. These statistics contribute largely to diamond business.
In India, Surat and Mumbai are highly engaged with diamond trade. Surat is famous for manufacturing raw diamonds into polish and Mumbai is known for the trading of world class diamonds. Mumbai acts as the central place for trading diamonds which is mainly manufactured from Surat industries.
It was important for the diamond trader operating out of Mumbai,it was imperative that the India’s financial capital should have bourse which can stand as a landmark for diamond business in India. Before BDB, Diamond business was majorly carried in the opera house (Mumbai). The majority of three buildings namely — Prasad Chambers, Pancharatna Building and Shreeji Building. But a market does not stand on world mark due to unorganized structure and some serious security. Hence this brings an idea for setting up Bharat diamond bourse (BDB).
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But that was easier said than done. It took 19 years and more than INR 1,000 crore for the Bharat Diamond Bourse to set up and it finally inaugurated on 17th October 2010. The Complex is spread over an area of 20 Acres / 0.87 Million sq. ft. land, With the total of two million square feet of constructions , with two basements of additional 1 million sq. ft these make a BDB win an honor of world largest bourse (exchange). The setting of bourse has changed the face of diamond trading in India. The only competitor is HongKong due to the china factor but BDB will always be bigger than china.
BHARAT DIAMOND BOURSE FACTS
- More than 1,000 cr invested for setup.
- Took almost 19 years to execute, complete setup and move diamond traders to new premises (BDB).
- BDB is spread over an area of 20 acres ( 0.87 Million SQ. ft).
- BDB have 2 million sq. ft of construction.
- World’s largest bourse with addition 1 million sq. ft of two basements.
After passing through many controversies BDB finally started in 2010, yet the main problem BDB had to face. After inauguration initially small and medium trader are less attracted towards BDB, may be for a reason of high estate price, inconvenience in traveling or may be for the reason of increasing expense. Thus the combination of all those problems some traders are seems to less adaptive their new bourse.
Finally, as the market giant company changes it address to new BDB, along with customs, exports house also shifted to new BDB these attracted traders to move towards BHARAT DIAMOND BOURSE which is situated in the commercial park know as BANDRA KURLA COMPLEX (BKC) between the Mumbai suburbs of Bandra and Kurla.
Currently, BDB provide world class facility for doing world most prestigious business, yeah diamonds! Beside this, more than 2500 diamond’s office operates from 9 am to 7.30pm daily into premises. However, this brings opportunity for business holders, job seekers, and the whole industry. With 8 interconnected tower alphabet wise each tower of 8 floors is divided into three division namely EAST , WEST , CENTRE. Make a vast web of diamonds trade. It is said as average trading of each day in BDB is about 100 crore, this what make a difference.
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The facilities at BDB comprise offices of diamond traders, four walk-in vaults, 24,500 safe deposit boxes, a 6,200-square-foot (580 m2) trading floor, strong rooms, lockers and customs clearance facilities with all the modern facilities like banking, finance, exchange, export, travel required to carry on day-to-day business. With more than 2000 CCTV cameras, BDB provides security for the diamond dealers.
This makes BHARAT DIAMOND BOURSE (BDB – BKC) remarkable.