Surat Diamond Bourse Announces New February 18 Deadline for Traders' Move
Surat authorities have set a fresh deadline to activate the world's largest office building. Deputy Chief Minister Harsh Sanghavi announced that top diamond traders must shift from Mahidharpura to the Surat Diamond Bourse by February 18.
Meetings with Traders Confirm New Timeline
Sanghavi held a meeting with approximately 45 diamond traders from Mahidharpura on Saturday. During this session, participants agreed to begin operations at the Surat Diamond Bourse from February 18. Earlier this week, another meeting took place with a different group of traders to discuss the transition process.
These recent gatherings follow earlier announcements. Traders had previously declared January 23 as their shifting date after a July meeting with Sanghavi. In the last week of July, the deputy chief minister conducted two back-to-back meetings with various trader groups. He aimed to persuade them to relocate to the new bourse.
After those July meetings, traders announced they had started furniture work in their new offices. They planned to commence operations in January. However, that timeline did not materialize as expected.
Business Slowdown Dampens Enthusiasm for Relocation
Enthusiasm among traders for moving remains subdued. The ongoing slowdown in the diamond business primarily drives this reluctance. With shrinking demand and thinning profit margins, many traders hesitate to expand operations at this stage.
Multiple announcements regarding migration to the Surat Diamond Bourse have occurred in the past. Despite these declarations, the majority of offices in the complex continue to remain closed.
Hitesh Kutchhi, a representative of the Surat Diamond Traders' Association, explained the current plan. "Traders unanimously decided they will shift to SDB from February 18," he said. "We are trying to ensure traders from different segments move together. This will make business operations smoother and more convenient for everyone."
Across the two recent meetings, discussions involved around 100 traders from Mahidharpura. Industry representatives believe leading traders must make the move first. They expect the rest of the market will follow because the trading network currently revolves around these key players operating from Mahidharpura.
Current Status of the Surat Diamond Bourse
Shailesh Jogani, a diamond trader, commented on the situation. "Traders are keen to work from SDB, but the business slowdown delays the process," he said. "Leading players are making efforts to start operations from there."
Earlier attempts to attract firms from Mumbai to the bourse have occurred. Top diamond manufacturers and members of the SDB committee held meetings in Mumbai and parts of Surat. These efforts failed to generate significant momentum.
The Surat Diamond Bourse complex contains 4,200 offices. Currently, fewer than 50 of these offices are operational. Apart from a handful of large manufacturers, most traders have yet to begin functioning from the building.
The new February 18 deadline represents another push to activate this massive office complex. Authorities hope coordinated movement of traders will finally bring the world's largest office building to full operational status.
