INDIAN JEWELLER

Surat Diamond Bourse’s New Customs House Begins Operations

The highly anticipated customs house at the Surat Diamond Bourse (SDB) commenced operations on Thursday with a successful trial run, issuing its first shipping bill

Post By : IJ News Service On 08 August 2024 3:07 PM

The inaugural parcel, originating from a diamond firm, is set to be dispatched to Mumbai for export on Friday.

Officials from SDB and industry experts anticipate that the new customs house will significantly enhance export efficiency by reducing both time and costs. Currently, the Surat Hira Bourse (SHB) at Katargam manages approximately 100 export parcels and 70 import parcels daily. A considerable portion of SHB’s operations is expected to transition to the SDB customs house.

Located in the basement of the Diamond Club within SDB, the customs house will be formally inaugurated once it is fully operational, according to SDB officials. The move is expected to streamline diamond exports, as less than 10% of diamonds exported from Surat are cleared through the city's customs office. The remainder is processed through Mumbai customs, adding an additional day to the handling time and increasing costs.

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