Occupancy estimates at Surat Diamond Bourse (SDB) differ between two media reports as Chairman Govind Dholakia urges members to begin operating there after Diwali and says he will open his own office.
Hindustan Times reported that Dholakia made the pledge in a letter to members and plans to work from the site even if other traders do not follow. Gujarati Jagran separately reported the letter and quoted SDB Vice Chairman Lalji Patel on office activity.
Hindustan Times cited an unnamed SDB official who said 250 of 4,700 offices were operating. That is about 5.3%, calculated from the outlet's figures. Gujarati Jagran quoted Patel as saying more than 300 of 4,500 offices were active. The reports therefore give different counts and totals for offices in use.
SDB's website lists more than 4,700 merchant offices across 6.7 million square feet, in nine towers with 15 floors. India's Press Information Bureau (PIB) said Prime Minister Narendra Modi inaugurated the bourse on Dec. 17, 2023. The government described plans for the site to bring diamond and jewelry trading together with customs clearance, international banking and vault services.
Hindustan Times pointed to an uneven division of work between the cities: Surat is a production center, while Mumbai retains trading firms and the buyer networks and financial services they use. The outlet also cited relocation costs, travel access and the expense of maintaining two offices as concerns. Patel told Gujarati Jagran that members continue to face maintenance charges for units they have not put into use.
Whether Dholakia's move draws other traders to the complex after Diwali is the immediate indicator raised by the reports.
