Surat Diamond Bourse (SDB), the world’s largest office space, may not have taken off in a big way but the Gujarat government’s dream project, built to make India a global diamond trading hub, is likely to get a different high.
On the lines of GIFT City, Gandhinagar, the state government has started an exercise to relax liquor laws in Diamond Research and Mercantile (DREAM) City which houses SDB on 35.54 acres of land, government sources said.
Sources further said the relaxations mulled in SDB, which houses some 4,500 offices, will be broadly equivalent to the liquor law dilutions in the GIFT City promulgated earlier/
“The government is likely to approve the proposal to relax the liquor laws within the limits of the DREAM City. The home and other related departments will chalk out guidelines governing the consumption and sale of liquor if the proposal gets the nod,” sources said, adding if everything goes as per plan, the announcement could be made within two months.
DREAM City is being developed on a 2,000-acre area to encourage and promote diamond and other mercantile activities related to trading. SDB, one of the key projects here, has been struggling to attract diamantaires after its inauguration in December last year.
SDA officebearers had also communicated to the government suggesting relaxing prohibition in SDB earlier when they flagged other issues.
Dinesh Navadiya, leading diamond businessman who has been at the forefront of raising industry issues, said, “This will be an important step to attract business here. Relaxing prohibition in DREAM City will create an international business environment. There should be a dedicated hospitality zone within the business district.”
The 15-storey, 81-metre tall nine towers are spread on a 35.54-acre campus with a built-up area of 68,17,050 sq ft. The initial euphoria surrounding SDB started waning in March when leading diamond company Kiran Gems shut its operations. The reluctance of other diamond companies to relocate from Mumbai to Surat stemmed from issues like lack of international air connectivity and cargo handling facilities, commute, and most importantly the global downturn in the diamond industry.
However, last month saw signs of revival with 250 companies including Kiran Gems opening their offices in the SDB following the constitution of a new committee. Also, SDB has a customs house that issued the first shipping bill a couple of days ago.
The consumption of alcohol in GIFT City that was permitted in December is aimed at ushering in “evening social life” through “wine and dine” facilities, fostering a global business ecosystem for investors, technical experts, and national and international companies operating there.
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