PM Modi unveils Surat Diamond Exchange, surpassing pentagon as world's largest office

Prime Minister Narendra Modi inaugurated the Surat Diamond Exchange, marking a significant milestone as it becomes the world's largest office complex, surpassing even the Pentagon. The sprawling complex, covering an impressive 6.7 million square feet and completed at a cost of ₹32 billion in July, houses various facilities aimed at streamlining the diamond industry. The inauguration ceremony saw the unveiling of a state-of-the-art 'Customs Clearance House' for Import-Export, a dedicated jewellery mall for retail businesses, and a sophisticated international banking facility with secure vaults.

Historically, Mumbai has been the focal point for diamond exports in India; however, Surat, aptly named the "Diamond City," takes center stage in the processing of precious gems. Approximately 90% of the world's rough diamonds undergo cutting and polishing in Surat before reaching buyers in global markets such as the US and China.

The newly inaugurated Surat Diamond Exchange aims to consolidate the industry by providing a centralized hub for various facets of the diamond trade. Situated within the Diamond Research and Mercantile City, the business district mirrors the design of the Gujarat International Finance Tec-City (Gift City), one of PM Modi's flagship projects. The complex boasts nine 15-story towers with around 4,700 offices, with 130 offices already operational, according to Nagjibhai Sakariya, the president of the Surat Diamond Bourse.