Surat Diamond Association (SDA) has proposed to set up a diamond bourse that will offer a trading facility in the city, in Gujarat.
The proposed bourse will be spread over 2,00,000 sq yards (1.8 million sq ft). It will entail an investment of Rs 2,000 crore. The required land will be purchased only after the committee’s meeting. It is expected to be operational in two years.
Surat Diamond Association (SDA) claims to have received more than 15,000 applications so far. It has expedited the registration of a not-for-profit company - Surat Hira Bourse - to run the exchange. The name is not finalised yet.