SNZ to Open at New Surat Bourse
December 25, 23
IDEX Online) - A Special Notified Zone (SNZ) - designed to ease rough imports from big miners - is to be launched at the newly-opened Surat Diamond Bourse (SDB).
The Gems and Jewellery Export Promotion Council (GJEPC), representing almost 10,000 manufacturers, says it will be the biggest diamond SNZ in India.
The 4,500 sq ft premises will feature 15 cabins, a high-security monitoring room, and a 24/7 security system.
India's first SNZ was launched in 2015 at the Bharat Diamond Bourse in Mumbai, and attracted Alrosa, De Beers, Rio Tinto, Dominion Diamonds Corp and Okavango Diamond Company, accounting for 85 per cent of global rough production.
Plans for an SNZ at Surat's new $355m bourse - the world's largest office building - were first revealed in 2014 by Prime Minister Narendra Modi, at the World Diamond Conference in Delhi.
GJEPC's Gujarat regional chairman Vijay Mangukiya said preparations for the SNZ were in progress, and would be ready to open shortly.