Bharat Diamond Bourse
|Bharat Diamond Bourse|
|Key people||Anoop Mehta (President)|
Bharat Diamond Bourse (BDB) is world's largest diamond bourse (exchange) located in Mumbai, India. 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 cater to the gem and jewellery trade. There are 8 towers having 9 floors each. 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 include offices of diamond traders, four walk-in vaults, 24,500 safe deposit boxes, 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, between the Mumbai suburbs' of Bandra and Kurla. It is expected to have inflow of more than 20,000-30,000 people daily. BDB handles 60% of diamond exports from India.
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 took it over from there. Then it was restarted 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 ₹11 billion (US$170 million) was collected from members.
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. The current market is located at operahouse and Prasad Chambers (Charni Road). The majority of the people engaged in this trade belong to the Gujarati Jain from Banaskantha and Kathiyawadi people from Saurashtra. The place where diamond market is located is declared as non-veg free zone
The main cutting and polishing of diamonds occur in the city of Surat, which is also known as 'diamond city'. The cutting and polishing units in Surat varies from large firms employing several thousands of diamond cutting and polishing workers to very small informal enterprises having a few workers. The larger diamond Cutting and Polishing of Diamonds (CPD) units have relatively better work and employment conditions and even provide for elaborate benefits. Most of the CPDs are owned by Kathiawadis, who were originally farmers from Northern Gujarat region. The whole diamond cutting and polishing industry is largely community oriented, where most of the owners and workers are Kathiawadis.  In the recession of 2008, while many of the small and medium size diamond CPDs were closed down with lay-off of workers, there were still some big CPD enterprises, who managed to retain their workforce. This was primarily because of paternalistic approach of owner, where they consider workers as extended family members 
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