Opera House and Zaveri Bazaar in southern Mumbai are set to loose their identity as diamond trading hub. Majority of the small and medium traders are fast moving to the new facility at BandraKurla Complex (BKC). This movement has picked up with Bharat Diamond Bourse (BRD) inaugurating its diamond trading floor at the complex last week.
The BDB plans to widen the scope of trading within the complex and facilitate the operations of smaller companies and traders. The trading hall is named after late S G Jhaveri, who in the 1970s was one of the first to suggest setting up a diamond bourse in India and worked towards it until his death in 1991.
In the last one and a half years after the serial bomb blasts at Opera House and Zaveri Bazaar on July 13, 2011, over 425 offices of 300 big and medium diamond companies have become operational within the BDB premises at BKC.
Official sources said the work on the interiors of another 415 offices is nearing completion and in the next couple of months the BKC will be housing more than 900 offices of the diamond companies.
"In the next few months, BKC will be the new address for the world's biggest diamond trading hub in India," said Anoop Mehta, president, BDB.
The BDB occupies two million square feet of space and houses 2,500 diamond offices of various sizes. It offers facilities such as a trading hall, customs office, banking, restaurants and security surveillance.
Mehul Shah, member of BDB said, "The diamond industry has embraced the new trading environment at BDB. The shifting activity from Opera House to BKC has gathered pace in the past one and a half years."
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