{"id":38641,"date":"2023-12-18T10:25:53","date_gmt":"2023-12-18T04:55:53","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=38641"},"modified":"2025-04-23T12:59:44","modified_gmt":"2025-04-23T07:29:44","slug":"surat-diamond-bourse-2","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/surat-diamond-bourse-2\/","title":{"rendered":"Significance of Surat Diamond Bourse"},"content":{"rendered":"<h2>What\u2019s in Today\u2019s Article?<\/h2>\n<ul>\n<li>Why in the News?<\/li>\n<li>About Surat Diamond Bourse<\/li>\n<li>Significance of the SDB Project<\/li>\n<li>About DREAM City<\/li>\n<li>News Summary<\/li>\n<\/ul>\n<h2>Why in News?<\/h2>\n<ul>\n<li>India will be among the world\u2019s three largest economies during his third term in office, PM Modi said, while inaugurating the Surat Diamond Bourse.<\/li>\n<\/ul>\n<h2>About Surat Diamond Bourse<\/h2>\n<ul>\n<li>About\n<ul>\n<li>The Surat Diamond Bourse (SDB) launched by former Chief Minister of Gujarat, Smt. Anandiben Patel, in February 2015.<\/li>\n<li>The SDB is a diamond trade centre located at DREAM (Diamond Research and Mercantile) city in\u00a0Surat, Gujarat.\n<ul>\n<li>The city is also known as &#8220;diamond city&#8221; for its diamond industry which processes 85 to 90% of the world&#8217;s rough diamond here.<\/li>\n<\/ul>\n<\/li>\n<li>It is the world&#8217;s largest diamond trading hub with a floor space of 660,000 square metres, as well as the world&#8217;s largest office building, ahead of The Pentagon.<\/li>\n<\/ul>\n<\/li>\n<li>Theme\n<ul>\n<li>The thematic landscaping of the project is based on the \u2018panch tatva\u2019 theme, representing the five elements of nature \u2013 air, water, fire, earth, and sky.<\/li>\n<\/ul>\n<\/li>\n<li>Features\n<ul>\n<li>It will be a global centre for trading of both rough and polished diamonds as well as jewellery.\n<ul>\n<li>From cutting, polishing, and trading activities, the Surat Diamond Bourse will bring brings together a vast community under one roof.<\/li>\n<\/ul>\n<\/li>\n<li>Bourse will comprise state-of-the-art \u2018Customs Clearance House\u2019 for Import \u2013 Export; a Jewellery mall for retail jewellery business and a facility for International Banking and Safe Vaults.<\/li>\n<\/ul>\n<\/li>\n<li><img decoding=\"async\" src=\"https:\/\/vajiramandravi.s3.us-east-1.amazonaws.com\/media\/editor_images\/2023\/12\/18\/13\/30\/39\/657ffc27644ad7059936a738_OI.PNG\" alt=\"\" \/><\/li>\n<\/ul>\n<h2>Significance of the SDB Project<\/h2>\n<ul>\n<li>The SDB will house various diamond-related businesses, including the sale of rough and polished diamonds, diamond manufacturing machinery, diamond planning software, diamond certificate firms, lab-grown diamonds, and more.<\/li>\n<li>The SDB is expected to generate significant employment opportunities. It is expected to provide direct employment to over 1.5 lakh people in various roles related to the diamond industry.<\/li>\n<li>The complex is a pre-certified green building by the Indian Green Building Council (IGBC) because of its eco-friendly and sustainability measures adopted to function itself.<\/li>\n<\/ul>\n<h2>About DREAM City<\/h2>\n<ul>\n<li>Diamond Research and Mercantile City is an upcoming business district in Surat.<\/li>\n<li>It is being built on 810 hectares (2,000 acres) of land near Khajod, along the lines of the Gujarat International Finance Tec (GIFT) City and Dholera Smart city near Ahmedabad.<\/li>\n<li>The district is projected to have office space, residential areas, and facilities for these residential areas.<\/li>\n<li>It will be established and run by a special purpose vehicle formed by the Government of Gujarat.<\/li>\n<li>Expected to open in 2030, it will be Gujarat&#8217;s third smart city.<\/li>\n<\/ul>\n<h2>News Summary<\/h2>\n<ul>\n<li>PM Modi inaugurated the Surat Diamond Bourse in Surat, Gujarat.<\/li>\n<li>Addressing the gathering, the Prime Minister remarked that a new diamond has been added to the magnificence of Surat city.<\/li>\n<li>The Prime Minister also mentioned the inauguration of a new airport terminal at Surat and the elevation of the status of Surat Airport as an International airport.<\/li>\n<li>He said that in his third innings as the Prime Minister, <u>India will be among the top 3 economies of the world<\/u>.<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1) Why is Surat known as the Diamond City?<\/h3>\n<p>Around 90% of the world&#8217;s mined diamonds are polished in Surat, contributing to approximately 80% of India&#8217;s annual diamond trade.<\/p>\n<h3>Q2) Which state in India is the largest producer of diamonds?<\/h3>\n<p>Madhya Pradesh produces 32 percent of the country&#8217;s diamonds and Diamond reserves in Madhya Pradesh are about 45,80,336 carats, of which 31.5% are located in Panna district.<\/p>\n<hr \/>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/economictimes.indiatimes.com\/news\/india\/surat-diamond-bourse-4500-offices-70-lakh-sq-feet-area-130-elevators-22-km-passage-key-things-about-worlds-largest-office-space-pm-modi\/articleshow\/106058345.cms\" target=\"_blank\" rel=\"nofollow noopener\"><u>Significance of Surat Diamond Bourse<\/u><\/a> | <a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=1987400\" target=\"_blank\" rel=\"nofollow noopener\"><u>PIB<\/u><\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oman\u2019s Sultan Haitham bin Tarik is on an official visit to India.<\/p>\n","protected":false},"author":5,"featured_media":38642,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-38641","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/38641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=38641"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/38641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/38642"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=38641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=38641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=38641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}