Record Exports: Mumbai's Loss is Surat's Gain

By John Jeffay / November 03, 2020 / www.idexonline.com / Article Link

(IDEX Online) - Surat's bourse has seen business boom, as it picked up export trade from its closed counterpart in Mumbai.Half-year exports to October were up more than 700 per cent to $832m said the Surat Hira Bourse (SHB), the city's only customs clearance centre for diamond, jewelry, gold and other precious cargo.By comparison total export for the financial year 2019-20 were $190m.Mumbai's Bharat Diamond Bourse (BDB) was closed between March and May because of the pandemic, but the SHB remained open."When BDB had shut down ???,? ? the export of diamonds and jewellery continued from SHB's customs clearance from April," KK Sharma the CEO of SHB told the Times of India newspaper. "This is a record export for SHB." About 70 per cent of exports from Surat were destined for Hong Kong, gateway to the Chinese market.Pic shows diamond merchants in Surat

Recent News

Bullish bankers and bearish institutions split on gold forecasts

July 01, 2024 / www.canadianminingreport.com

Gold stocks down on flat metal price and mixed equities

July 01, 2024 / www.canadianminingreport.com

Snowline Gold reports Initial Resource Estimate

June 24, 2024 / www.canadianminingreport.com

Inflation subsiding and rate cuts starting internationally

June 24, 2024 / www.canadianminingreport.com

Inflation rebound continues to reverse

June 17, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok