Bharat Diamond Bourse

Bharat Diamond Bourse(Exchange)
Type	Diamond Exchange
Location	Mumbai, Maharashtra, India
Founded	2010
Key people	Anoop Mehta (President)[1]
Currency	INR
Website	Official Website

Bharat Diamond Bourse (BDB) is world largest diamond bourse(exchange) based in Mumbai, Maharashtra, India.^[2] Spread over 20 acre plot, the Complex is designed to house around 2,500 small and large Diamond Traders in addition to Custom House, Banks and other service providers who will cater to the Gem and Jewellery Trade.^[3] There are 8 towers each 9 floors. The total constructed area is 2,000,000 sq ft (190,000 m²). with two basements of additional 1,000,000 sq ft (93,000 m²). The facilities at BDB will include offices of diamond traders, four walk-in vaults, 24,500 safe deposit boxes,^[4] a 6,200-square-foot (580 m²) trading floor, strong rooms, lockers, customs clearance facilities with all the modern facilities required to carry day to day business. It is located in G Block of Bandra Kurla Complex, Mumbai.^[5] It expected to have inflow of more than 20,000-30,000 people daily.^[6][7]

History

In 1984, The project was started by a group of Mumbai based diamond traders. Mumbai Metropolitan Region Development Authority given 20 acre for 80 years lease. The project initially involved public sector Minerals and Metals Trading Corporation. It withdrew from the project later and BDB taken it from there. Then it was re-started in 1992. But disputes between the BDB committee, its architects and contractors and payment defaults by members during the 1995-99 property slump put the project on hold in 1998. It was restarted in 2001. The construction cost of an estimated 1,100 crore (US$223.08 million) was collected from members.^[6][8]

India Diamond Industry

India’s diamond industry, which is estimated to grow by an average 10 to 15 percent each year in the next five years, accounts for 70-75 percent of total diamond exports in world and employs 850,000 people, making it the largest cutting hub by value and number of employees. Last year, the country’s import of rough diamonds rose 24.5 percent to 149.8 million carats against a year earlier, and export of cut and polished diamonds witnessed a surge of 28.3 percent to 59.9 million carat.^[9]

Reference

1. ^ "Bharat Diamond Bourse sees turnover rising 10-15% - Money - DNA". Dnaindia.com. http://www.dnaindia.com/money/report_bharat-diamond-bourse-sees-turnover-rising-10-15pct_1452401. Retrieved 2010-10-14. 
2. ^ "Bharat Diamond Inaugurates 'World's largest Diamond Bourse'". Indiainfoline.com. http://www.indiainfoline.com/Markets/News/Bharat-Diamond-Inaugurates-Worlds-largest-Diamond-Bourse/4962348160. Retrieved 2010-10-14. 
3. ^ Prachi Rege. "Bharat Diamond Bourse to open doors after 18 years: Business : India Today". Indiatoday.intoday.in. http://indiatoday.intoday.in/site/Story/116428/Business/bharat-diamond-bourse-to-open-doors-after-18-years.html. Retrieved 2010-10-14. 
4. ^ Chang, Arlene (2010-10-18). "Mumbai’s New Diamond Market Opens at Last - India Real Time - WSJ". Blogs.wsj.com. http://blogs.wsj.com/indiarealtime/2010/10/18/mumbai%E2%80%99s-new-diamond-market-opens-at-last/. Retrieved 2010-10-18. 
5. ^ "Bharat Diamond Bourse | Explore". Bdbindia.org. http://www.bdbindia.org/Explore.html. Retrieved 2010-10-14. 
6. ^ ^{a b} "Mumbai will have world's largest diamond market". Sify.com. http://sify.com/news/mumbai-will-have-world-s-largest-diamond-market-news-national-kkqiMPjjfce.html. Retrieved 2010-10-18. 
7. ^ Special Correspondent (2010-10-15). "Business / Markets : Bharat Diamond Bourse to open on October 17". Chennai, India: The Hindu. http://www.thehindu.com/business/markets/article830665.ece. Retrieved 2010-10-14. 
8. ^ "Bharat Diamond Bourse getting ready to sparkle". Financialexpress.com. 2008-07-04. http://www.financialexpress.com/news/bharatdiamondboursegettingreadytosparkle/331170/. Retrieved 2010-10-14. 
9. ^ Walid Mazi. "World’s largest diamond bourse opens in India". Arab News. http://arabnews.com/economy/article163276.ece. Retrieved 2010-10-18.