The bomb scare at Panchratna building, Mumbai’s diamond hub, on December 26, 2008, was triggered off by a call from a PCO at Girgaum, Mumbai, to the Diamond Merchants Association, warning of a bomb blast in the building as it was the anniversary of the terror attack in the city. According to N R Mali, senior police inspector at the Dr. D B Marg police station in whose jurisdiction the building falls, the “police was quick to respond. Our entire team was at Panchratna at 4 pm and we rigorously checked the building till 6.30 pm.” The police also checked out the PCO at Girgaum from where the call was made, but drew a blank as records of phone users are not maintained at any PCO. %% The slow evacuation of the building by diamond traders has drawn criticism in the city, which has just been the victim of a brutal terror attack. Senior PI Mali points out that “there are 40,000-50,000 people in this building every day including visitors, so a quick evacuation is not possible. We have recommended that there should be security guards with walkie-talkies on every floor.” The police also recommends monthly security drills in the building to sensitise diamond merchants to emergencies, but faces resistance from the traders who consider this a ‘disturbance’ in their business. %% In the wake of urban terrorism across the country, the gem and jewellery industry needs to re-evaluate its attitude to security issues. Any laxity could extract a high price from an industry which is already reeling under a severe global recession. The police believe that the industry is vulnerable and strenuous efforts should be made to reform existing security.