'We will be able to anticipate the full picture of the impact after August, which is also the time when demand for a year begins to peak ahead of the December holidays and Valentine's Day.'
The proposed exchange is likely to be almost as big as Mumbai's Bharat Diamond Bourse, now said to be fully occupied.
Recent defaults have made a section of traders contemplate moving towards promissory notes.
Though exports to Hong Kong, a major destination for India's polished diamonds, have resumed, the industry is currently sitting on an inventory worth around $2.3 billion.
A newly opened building in the diamond hub of Surat in Gujarat has surpassed the Pentagon as the world's largest office building, according to a report in CNN. Surat Diamond Bourse, billed as a "one-stop destination" for over 65,000 diamond professionals, including cutters, polishers and traders, will welcome its first occupants in November, the report said. It features a succession of nine rectangular structures spilling out from - and interconnected via - a central "spine", and the sprawling 15-storey complex has been built across more than 35 acres.
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
Contract finally given for Rs 2,400-cr project, with GIFT City-like features
There are talks that Mumbai's prestigious Bharat Diamond Bourse may shift to Surat.
In May, farmer Ishwar Gaykar dumped his tomato crop due to low prices. Now, his fresh tomato crop has made him a millionaire.
The Congress on Monday claimed that the Tata-Airbus C-295 aircraft facility inaugurated in Vadodara was earlier supposed to be set up in Nagpur and alleged that under Prime Minister Narendra Modi's instructions, the Centre and the Mahayuti dispensation have conspired to ensure the 'wholesale surrender' of Maharashtra's interests.
'We don't trade with any business where we have specific concerns,' a De Beers spokesperson said.
'We did not know we would one day dominate nearly 70 per cent of the market.' 'Today, of 100 diamonds available for trade in Antwerp, 93 are cut and polished in India.' A fascinating excerpt from Shantanu Guha Ray's The Diamond Trail: How India Rose To Global Domination.
Addressing a huge rally in Maharashtra's Nagpur on the occasion of the Congress' 139th foundation day, he said unemployment in the country has reached its highest point in the last 40 years.
Govt restrictions on import biting deep; trade petitions for relief with units, workers idling.
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
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