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India opens world's largest diamond-trading center

India opens world's largest diamond-trading center

The new location of the Bharat Diamond Bourse extends over 20 acres in Mumbai’s Bandra Kurla Complex. The bourse’s eight nine-story towers hold 2,500 offices, and the BDB reports that 2,275 have already been allotted to diamond companies, over 900 of which are official bourse members. The total space at the Bourse exceeds 1.6 million square feet making it the largest diamond trading location in the world, according to the Financial Times. It was designed by architect Balakrishna Doshi and cost $200 million.
The diamond trade has operated mainly from Panchratna building and Prasad Chambers in the old, crowded Opera House area in south Mumbai. Most traders are expected to vacate these locations by January 2011.

The market moved to this new location last weekend over the Hindu holiday of Dusherra and was inaugurated by India’s Commerce and Industry Minister Anand Sharma.

India processes the largest volume of diamonds in the world, primarily in the Surat area of Gujarat, north of Mumbai.

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