SURAT: There is division in the Indian diamond industry after big
diamond companies in Mumbai, mainly owned by Saurashtrian Patels,
decided to 'migrate' to Surat.
At least 50 big diamond
companies had agreed unanimously to migrate to Surat at a meeting held
in Mumbai four days ago. However, a message on social media is urging
the diamond community to do a rethink on its decision.
message says, "We are talking about Surat Diamond Bourse (SDB) when we
already have Bharat Diamond Bourse (BDB) in Mumbai. The BDB has more
than 5,000 offices. Why we need factories and offices at the same place
The anti-migration crusaders in Mumbai highlight
non-availability of international air connectivity in Surat. They also
say there are no auction houses, diamond mining companies' offices and
gemological institutes in the Diamond City.
The message states,
"We already have invested crores of rupees in offices and residences.
We already have infrastructure in Mumbai. If we have any complaints
against infrastructure, have we approached the state government of
Maharashtra? If we are banking on Narendra Modi government at the centre
for better facilities, we can still do that if and when he comes to
power. However, there is no need to shift our offices to Surat."
Industry sources said the diamond business in the country, which was
once ruled by Palanpuri Jains, is now in the hands of Saurashtrian
Patels. If the 10 big companies owned by Saurashtrian Patels have
decided to shift their operations from Mumbai to Surat, then it is going
to be a big blow to those wanting to stay in Mumbai.
big companies shifted from Opera House to Bandra-Kurla Complex (BKC),
the medium-sized companies followed suit. Now, if again the big
companies shift their base from BKC to Surat, the rest will follow,"
said Surat Diamond Association president Dinesh Navadia.
sightholder holder and a Saurashtrian Patel said, "The migration
movement is not new. It is going on for the past one-and-a-half-decade.
Surat was always our first preference and not Mumbai."