Surat: The Central Board of Indirect Taxes & Customs (CBIC) has approved the setting up of a customs house at the Surat Diamond Bourse (SDB). According to a statement issued by SDB, all necessary formalities were finalized on Tuesday. The customs house, occupying an area of 40,000 square feet, is now ready for use at SDB.

Direct export and import from Surat Diamond Bourse (SDB) will be possible now, as the Government of India has given all approvals for functioning of a 40,000 square ft custom house here.

This will result into savings for diamond traders on angadiya (courier) costs in the range of 10 to 15 percent per parcel of diamonds. As many as 250 offices have started functioning in the bourse from July 7th, but export-import didn’t become possible due to lack of the clearance. Now all permissions are granted.

Govt. may Relax Prohibition Laws:

Now the DREAM city Surat is about to witness norms for sale-cum-consumption of alcohol at the Surat Diamond Bourse— which is said to be the world’s biggest office complex, larger than the Pentagon in US.

After having developed the GIFT City in Gujarat’s Gandhinagar, the state government here is apparently mulling to dilute prohibition laws for DREAM (Diamond Research and Mercantile) City, reported Times of India. According to a top government official, this step is aimed at attracting business ultimately promoting Surat Diamond Bourse as a global diamond trading hub. “The home department and other agencies will chalk out guidelines governing the consumption and sale of liquor once the proposal is cleared,” the source said and added, If everything goes to plan, the announcement could be made within two months.”