With the opening of a grand diamond market centre (Diamond Bourse) in Surat, Mumbai has received a big financial shock and Maharashtra is going to suffer a huge revenue loss. As thousands of offices in Mumbai are closing down, citizens will also lose employment.
Kiran Gems, a Mumbai-based company with a turnover of around INR 17,000 crore, recently shifted to Gujarat. One after another, many diamond companies are moving their business from Mumbai to Gujarat. Many traders in the diamond business are from Surat and Gujarat and Mumbai has an international airport and a long standing business in Mumbai. A large diamond market building was also erected in the Bandra-Kurla complex. But as the diamond market is shifted to Surat, Mumbai will suffer a big loss.
Industries Minister Uday Samant has announced a few days ago that a grand diamond market centre will be set up in Navi Mumbai. While there is an office in Surat, there is no need to continue the office in Mumbai. As a result, many diamond traders and companies are migrating to Gujarat, the office bearers of the Diamond Traders Association mentioned.
After the financial centre diamond market also in Gujarat
There was a plan to set up an international financial centre in Mumbai. It was also announced in the budget during the 'UPA' government. But as soon as there was a change of power at the Centre, the BJP government started an International Financial Center in Gujarat. NCP President Sharad Pawar expressed fear that lakhs of workers in Mumbai will lose their jobs due to shifting of diamond market to Surat.
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