INTERNATIONAL NOVEMBER 201050

he Indian diamond industry created history with the launch of the Bharat Diamond Bourse (BDB), the world’s biggest

diamond trading centre, at Bandra Kurla Complex in Mumbai on October 17. The BDB was established for the promotion and export of diamonds from India and to provide state-of-the-art infrastructure for local and overseas buyers and sellers. Spread over a 20-acre plot, the complex is designed to house around 2,500 small and large diamond traders in addition to customs facilities, banks and other service providers who cater to the trade.

The chief guest on the inauguration day was cabinet minister for commerce & industry, Anand Sharma. He was joined by Maharashtra chief minister Ashok Chavan and minister for petroleum & natural gas, Murli Deora.

Also present on the occasion were members of parliament Priya Dutt, Milind Deora and Piyush Goyal.

Speaking at the launch event, BDB president Anoop Mehta said, “India is a major diamond manufacturing hub with 14 out of 15 diamonds being processed here. The ministry of commerce and the Indian diamond industry over the years have combined their efforts to streamline various initiatives that have today propelled the Indian diamond trade to the next level. Today, it gives me immense pride to stand before you and announce the launch of a dream – one that the diamond industry and the commerce ministry sought to achieve over the years. With the inauguration of this bourse, we will now be equipped with the best infrastructure in the world, which will put us at par with leading global diamond trading centres.”

Bharat Diamond Bourse Opens For Business

TVarda Shine, CEO, DTC “I spent a couple of hours visiting the new bourse and this is the great example of India preparing itself for the long term. The potential, the infrastructure and the vision of putting this bourse together is great and I believe it will make a real difference in India’s diamond industry in future.”

Jyotiraditya Scindia, Minister of State for Commerce and Industry “The Bharat Diamond Bourse is indeed a wonderful development. We have set a goal before the diamond industry to develop India as a global trading hub. In this endeavour, the government of India is also planning to establish similar such bourses in the country as announced in the recent foreign trade policy.”

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Congratulating the industry, Sharma said, “I’m delighted to be associated with the inauguration of the world’s largest diamond bourse. It is a great accomplishment for the industry which has made tremendous contributions over the last several decades. We have seen continuous growth in the gem and jewellery sector and the quantum of import and export is very encouraging. The industry had gone through a difficult period but has bounced back.”

Sharma elaborated on the active cooperation between the government and the gem and jewellery industry, citing the removal of the search and seizure clause in the Direct Tax Code, and the abolishment of import duty on polished diamonds. “We have increased the limit of carriage of goods for participating in overseas exhibitions from $2 million to $5 million,” he noted, adding the government will take up issues like presumptive tax.

“We want to make Mumbai the diamond hub of the world. For achieving this goal, India needs direct procurement of rough and our efforts have borne fruit when we entered into deals with Alrosa, Namibia. We hope to reach long term understandings with

other diamond producing countries as well. We have liberalised the procedure of importing rough by allowing advance remittances to import diamonds from Rio Tinto, BHP Billiton, Endiama, Alrosa, the Diamond Trading Company, and Gokhran,” Sharma said.

“I am hopeful that within a year, this bourse will achieve a turnover of over Rs.100,000 crore. I would like to thank all the members of the diamond trade who have made this memorable occasion a grand success and wish them prosperity by leaps and bounds in the coming years,” he added.

Assuring full support from his government to provide excellent infrastructure, Chavan said, “The BDB has great potential to promote the ‘Made in India’ brand globally.

World Federation of Diamond Bourses (WFDB) president Avi Paz said, “The BDB will provide a strong boost to the diamond industry both locally and globally. It will enable you to work in a comfortable environment. The realisation of this project is the work of leaders and Anoop Mehta is leading the diamond industry on a positive path.”

Gareth Penny, former CEO of De Beers “I’m told that 2,400 businesses are going to be based at this extraordinary bourse, along with something like 22,000 people. Just to put that number into perspective, that’s more than the total number of employees in the whole of the De Beers group of companies. The bourse will solidify India’s position in the global diamond industry. Whatever the difficulties, whatever it’s taken to get this project off the ground, I think that visitors to your industry will want to salute you for these efforts and recognise what a magnificent role you’re playing.”

INTERNATIONAL NOVEMBER 201052

BDB Fast FactsOwner: The BDB is a service-oriented non-profit company registered in 1984, originally formed by diamond expor-ters along with the state-run Minerals and Metals Trading Corporation of India (MMTC).

Architect: Balakrishnan Doshi

Concept: To be the largest diamond trading centre and promote India as the global hub of gem and jewellery sector.

Features: The complex is spread over an area

of 8,00,000 sq ft land

The total constructed area is 2,000,000 sq ft with a basement of another 1,000,000 sq ft.

The basement car park can accommodate about 2,000 cars.

There are eight towers of nine floors each, connected to each other from the second floor to the sixth floor.

The bourse houses 2,500 diamond offices of various sizes.

An area of 90,000 sq ft on the ground floor is earmarked for banks, restaurants, etc. About 30 banks and

15 restaurants are planned.

Locker rooms are provided in the bourse complex itself.

There are about 21,000 lockers in three different locations.

The bourse will have in-house customs clearance facilities spread over 30,000 sq ft.

A trading hall and other facilities of 20,000 sq ft are planned in the complex.

An area of about 5,00,000 sq ft will have landscaped gardens, which will be irrigated using recycled water.

There are 78 elevators from the ground floor to the ninth floor.

The air conditioning system has a capacity of 9,000 tonnes with state-of-the-art energy efficient controls.

The electrical system has 27 MW connected load and 17 MW maximum demand. The bourse is electrically fed by two alternate feeders, thus ensuring virtually uninterrupted power supply.

There are three safe deposit rooms at Tower A (5,400 sq ft), Tower E (2,600 sq ft), and Tower J (3,200 sq ft).

Security: A valid photo ID proof is required

for any visitor entering the complex.

All luggage will be X-rayed.

Some 2,500 closed circuit television cameras with face recognition technology will constantly monitor the complex through CCTV intelligence cameras.

Special software has been created such that the office owners can check the camera outside their office from anywhere in the world.

Amenities: There are 12 food areas in the

complex like a cafeteria, a canteen for the staff and vendors in the basement at seven different locations.

Tiffin service for the office working staff.

A food court, three fine dining restaurants, and a multi-cuisine restaurant.