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Diamond traders dump Mumbai for sparkling future in Surat
Updated On: 25 October, 2023 08:14 AM IST | Mumbai | Prakash Bambroliya
Kiran Gems and 1,000+ traders choose Surat Diamond Bourse that has 4,300 offices, special townships for staff
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The Kiran Avenue township built by Vallabhbhai Lakhani, chairman of Surat Diamond Bourse and director of Kiran Gems for his 1,200 employees
The Surat Diamond Bourse (SDB) in Khajod, equipped with 4,300 offices, is ready. Despite initial concerns that it might not match Mumbai`s diamond trading hub, over 1,000 diamond traders, including Kiran Gems, a major Mumbai-based company, are ready to relocate to SDB after Diwali. Kiran Gems is shutting its Mumbai office and will commence operations in Surat. They have established a comprehensive township in Surat to accommodate their 1,200 employees who have worked in Mumbai for years.
Vallabhbhai Lakhani, director of Kiran Gems and chairman of SDB, is shifting his Rs 17,000 crore business from Mumbai`s Bharat Diamond Bourse. Lakhani has developed a private township on 40,000 square metres of land in Surat`s Jiav village, similar to the Indian government`s Navratna companies like NTPC and ONGC.
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