Editor’s Note
This article reports on a consensus reached to fully operationalize the Surat Diamond Bourse by January 2026, following a meeting between state officials and key industry stakeholders.
Minister of State for Home and Industries, Harsh Sanghavi, held a meeting with members of the Surat Diamond Bourse Committee and diamond traders, brokers, and small merchants from Mahidharpura, Varachha, and Katargam who currently operate trading offices, cabins, and tables at the Surat Diamond Bourse (SDB). Following the meeting, Sanghavi announced that by consensus, it was decided all offices at the Surat Diamond Bourse will become fully operational from January 23, 2026 (Aaso Sud Pancham). The date was agreed upon by natural diamond traders, CVD diamond traders, brokers, and small merchants from Mahidharpura, Varachha, and Katargam.
Traders have assured the government they will close their offices in Mahidharpura and shift entirely to the bourse. The meeting was attended by SDB Chairman and Rajya Sabha MP Govind Dholakia, Vice Chairman Laljibhai T. Patel, Sevantibhai Shah, Arvindbhai Ajabani, Nagjibhai Sakariya, Ashesh Doshi, Shailesh Jogani, and Hitesh Patel, along with representatives of large diamond companies, brokers, and dealers.
From January 23, major traders are expected to close their Mahidharpura offices and move to the bourse, which officials believe will particularly benefit small traders and brokers.
Minister Sanghavi added that the Surat Diamond Bourse aims to become an inspiring global hub for the diamond industry.
Sources say traders from Varachha Mini Bazaar, Choksi Bazaar, and Katargam’s Nandu Doshi ni Wadi area are ready to shift to the bourse. However, traders from Jain communities in Palanpur, Deesa, and Dhanera, who hold significant sway over Mahidharpura’s market, have shown less enthusiasm. Efforts to persuade them are being led by Minister Sanghavi, Arvind Ajabani, and Ashesh Doshi.
It is noteworthy that Vallabh Lakhani of Kiran Gems, one of the project’s original backers, was among the first to relocate to the Surat Diamond Bourse. However, his early move failed to spark large-scale relocation, and Lakhani later resigned as SDB Chairman and shifted operations back to his office at Bharat Diamond Bourse in Mumbai.
Last year, Rajya Sabha MP and SDB Chairman Govind Dholakia and Arvind Ajabani tried to kickstart the bourse before the Dussehra festival. Yet, several nationalized and private banks closed their branches at the SDB campus, and facilities like Amul Parlour and Sumul brand restaurants also shut down.
Despite earlier setbacks, officials now hope the January 2026 plan will finally bring large-scale relocation, transforming the bourse into a thriving center for the global diamond trade.