The world’s largest diamond bourse (exchange) BDB

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Bharat Diamond Bourse (BDB) is the world’s biggest diamond bourse (exchange) and it is located in Mumbai at India. Spread over a 20-acre of the area, the Complex is home to nearly 2,500 small and large diamond traders in adding to the Custom House, banks and other service workers who cater to the precious gems and jewellery trade. There are about 26 towers which having 9 floors each. The total constructed area is nearly 2,000,000 sq ft or can say 190,000 m2, with 2 basements of additional 1,000,000 sq ft (93,000 m2). The services at BDB comprise workplaces of diamond traders, 4 walk-in vaults, 24,500 safe deposit boxes, strong rooms, lockers, a 6,200-square-foot (580 m2) trading floor and customs clearance services with all the modern services required to carry on day-to-day business.

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It is situated in the G Block of the Bandra Kurla complex. It has an arrival of some 20,000 – 30,000 people daily  BDB handles 60% of diamond exports from India. In 1984, the plan was started by a group of Mumbai-based diamond traders. Mumbai Metropolitan Region Development Authority gave about 20 acres on a lease of 80 years. The project firstly involved the public sector Minerals and Metals Trading Corporation. It removed from the project later and BDB took it over from here. Then it started again in 1992. But arguments between the BDB committee, its architects and contractors and payment defaults by associates during the 1995-99 property crash put the project on hold in 1998. It started again in 2001. The building cost of an estimated ₹11 billion (US$170 million) was collected from members.

India’s diamond industry, which is valued to grow by an average 10 to 15% each year in the next five years, accounts for 70 – 75% of total diamond exports in the world and employs over 850,000 people, making it the largest cutting hub by value and also a number of employees. The cutting and polishing of diamonds happen mainly in the city of Surat, which is known as ‘Diamond City’.  Most of the CPD units are possessed by Kathiawadis, who were originally farmers from Northern region of Gujarat. The whole diamond cutting and polishing trade is largely community oriented, where most of the workers and owners are Kathiawadis.

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