In a strategic move aimed at overcoming everyday obstacles, the Surat Diamond Bourse (SDB) has announced the formation of a new management committee, officials disclosed on Thursday. This development follows closely on the heels of the appointment of Rajya Sabha MP and BJP leader, Govind Dholakia, as the Chairman of SDB, amid emerging leadership transitions.
The newly constituted committee sees Arvindbhai Shah from Dhanera Diamonds taking the helm as President, with Nagjibhai Sakariya of HVK International Ltd and Ashesh Doshi of A N Diamond stepping in as the two Vice-Presidents. Laljibhai Patel of Dharmanandan Diamonds assumes the role of Vice-Chairman. These appointments were orchestrated by Dholakia, during a core committee meeting convened on Wednesday.
Earlier in January, Sakariya had relinquished his position as SDB Chairman citing advanced age, leading to a succession of leadership changes. Last week, Vallabhbhai Lakhani, his successor, also resigned, marking the second significant departure in as many months. Dholakia was subsequently appointed to the top post.
The primary focus of the newly formed management committee, according to insiders, is to attract diamond merchants from Surat and Mumbai to establish their offices within the SDB premises.
Reflecting on the composition of the committee, Laljibhai Patel, Vice-Chairman of SDB, remarked, “The diamond industry landscape is characterized by significant presence from both Patidars and Jains. Patidars dominate approximately 70% of diamond manufacturing activities, while the Jain community commands a similar share in diamond trading. In an effort to ensure representation from both communities, we have welcomed two Jain diamond traders into the management committee. Moving forward, the committee will be further diversified with equal participation from Jain and Patidar members.”
Elaborating on the committee’s agenda, Patel added, “Our immediate focus is on engaging with diamond merchants who have acquired office spaces within SDB, both in Surat and Mumbai, urging them to commence operations promptly. Arvindbhai Shah’s extensive industry experience and presence in both Mumbai and Surat are instrumental in this endeavor. We anticipate that by May, more than 500 offices in Surat will be operational, as we actively pursue this objective.”
The Surat Diamond Bourse complex, touted as the world’s largest office space, was inaugurated by Prime Minister Narendra Modi in December. Despite this milestone, the occupancy rate stands at a modest 135 out of 4,000 available offices, prompting concerted efforts from the leadership to address prevailing challenges.