Jinxes can be hard to shake off, especially if they are two decades in the making. Years after it was first envisioned and commissioned, it looks like the Bharat Diamond Bourse at the Bandra-Kurla Complex (BKC) is set to face some more challenges. The slow march of Mumbai’s conservative diamond traders from their traditional headquarters at Opera House to the current 20-acre complex at BKC after the 13/7 attack has not been without controversy. Though nearly 2,000 of the 2,475 firms allotted office space here have made the move, many smaller units are still in two minds, chiefly owing to high rentals — nearly ₹1 lakh for a 100 sq ft space. These entities are now planning to move further north — to Gujarat. At an informal event earlier this year, a vote to permanently move the diamond market to trade hub Surat was split down the middle. With these traders responsible for 60% of the ₹2.6-lakh crore diamond business in Mumbai, the bourse has a lot to lose.
Story in Pictures
Far from the jewel in the crown
Mumbai's diamond bourse at Bandra Kurla Complex is all set to lose out business to Surat
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