Surat Diamond Bourse rolls out more incentives to Mumbai firms for shifting to Surat

Surat: Surat Diamond Bourse (SDB), which is set to open later this year, has introduced several incentives to attract firms relocating from Mumbai. However, this has triggered a dispute between the Bharat Diamond Bourse of Mumbai and SDB. The conflict arose when SDB offered one year of free maintenance to businesses that fully relocate from Mumbai to Surat.

This marketing strategy also includes additional benefits. For instance, businesses that move from Mumbai to establish offices in SDB will have their names engraved on a plaque to be placed in the reception areas. The board will be titled “Leading Members to Start Diamond Trading Activity in SDB.”

Responding to these offers, the Vice President of Bharat Diamond Bourse criticized the SDB, alleging that out of the 4,500 offices in SDB, less than 10% have commenced interior work. He questioned why the SDB is extending offers to Mumbai when even the people of Surat are not moving in. He further emphasized that since Indians control 70-80% of the world diamond trade, there is enough room for two diamond bourses.

However, when questioned about the offer, SDB officials clarified that the offer is exclusively for members of SDB, and there is nothing wrong with providing them with certain advantages. DeshGujarat