Surat, a city located in the Southern part of India’s Gujarat state, is better known as the diamond manufacturing hub where 14 out of 15 diamonds are cut and polished. But if everything goes according to plan designed by The Gujarat Infrastructure Development Board (GIDB) and other local civic authorities, the diamond city will get converted into a DREAM (Diamond Research and Mercantile) city with all modern amenities and infrastructure including the proposed Surat Diamond Bourse within a span of 5 to 10 years.
Mr. Pravin Nanavati, former president of The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has provided us a complete picture of the proposed DREAM city. He says that the GIDB will launch a Special Purpose Vehicle (SPV) for this three-phased project whereas Surat Diamond Bourse will be the anchor company. The stone laying ceremony of the project is likely by January 2015.
Mr. Nanavati who is also closely associated with the proposed developmental plans of Surat, says, “The proposed developmental activity is being planned in lines with Prime Minister Mr. Narendra Modi’s pet project ‘Gujarat International Finance Tech City’ (GIFT) near Gandhinagar to promote Gujarat’s capital as international financial hub. Here are some of the highlights of the DREAM city:
Land:
The Gujarat Government is planning to develop a state-of-the-art industrial infrastructure on 2200 acres of land near Khajod village, situated between Surat and Navsari cities. As mentioned above, the proposed city will be called a DREAM City with all modern amenities and infrastructure.
Initially, 450 acres of land will be used for common facilities like roads, about 200 acres of land is reserved for diamond bourse development, 250 acres for residential development and 100 acres each for other businesses like hotels, schools and colleges.
Roads & International Connectivity:
Surat is the second largest city of Gujarat and ninth largest in India. Surat is also a major production centre for synthetic textiles of the country.
Due to heavy traffic congestion on major highways passing through Surat city, new expressways are being planned and would be completed by 2016. Surat Municipal Corporation and Surat Urban Development Authority have planned to develop an Outer and Middle Ring Road with BRTS corridor also which are under construction to decongest the traffic. This will significantly cut down the commuting time for many people commuting to the diamond and textile districts.
Besides, all Surat industry leaders have been vigorously demanding International Air Connectivity in Surat since long. The new government under the leadership of Mr. Narendra Modi has principally agreed to provide it soon.
Other Infrastructure and Amenities:
The proposed DREAM City will be a Wi-Fi city with smart and intelligence system having all modern infotainment and knowledge facilities. It will also have a security as well as Banking and Insurance facility of international standard. At the same time, basic requirement of 24-hour electricity and water supply will also be taken care of.
Surat Diamond Bourse:
India already has Bharat Diamond Bourse (BDB) in Mumbai fully equipped with modern and international infrastructure. But office at the BDB is not affordable by many diamond traders. There are hundreds of such traders in Mumbai and Surat who are office-less or who are in search of cheaper offices.
As a solution, some of India’s leading diamond traders have floated an idea of having a second Diamond Bourse in Surat which would provide quite cheap offices with equally good infrastructure to those traders who cannot afford offices in the BDB.
Their sustained efforts have earned them a plot of at least 200 acres in the proposed DREAM City of Surat. The Bourse which they claim to be the world’s largest is expected to be functional within 4-5 years. 12,000 diamond firms including 2,000 overseas firms so far have given their demand letters to open their offices in the proposed bourse.
The proposed project has provisions of initiating a National Diamond Research Institute (NDRI), a modern Skill and Design Centre, Training Institutes of international standard along with five star hotels and restaurants.
Jewellery Park:
Although the Jewellery Park at Surat’s Ichhapore area has become functional last months with 3 units, the Gujarat Hira Bourse (GHB) has urged diamond jewellery manufacturers from Surat and Mumbai to set up units here. 20 jewellery manufacturers have approached GHB with request to allot them plots at the park at the earliest.
Sources say that jewellery manufacturing units at the existing Jewellery Park would prove to be a boon to the proposed Surat Diamond Bourse at Khajod because SDB will be the biggest polished diamond assorting centre in the world and almost all polished diamonds processed in Surat and other parts of the country would be traded at SDB.
Posted by Surash Chotai
