Diamonds war: Modi's Israel visit may put the shine on Surat

Work on the new bourse has begun and is expected to finish in three years

Prime Minister Narendra Modi’s assurance to Surat’s diamond traders that he was going to Israel to represent their interests could prove to be a shot in the arm for the city’s industry. More specifically, this could be good news for the Surat Diamond Bourse (SDB), a two-year-old trading platform looking to take the shine away from Bharat Diamond Bourse, India’s largest bourse functioning out of the Bandra-Kurla complex in Mumbai.

Company documents reviewed by Business Standard shows that the SDB has attracted impressive interest in its challenge to the Mumbai-based bourse even though it is still reportedly a year away