The Surat Diamond Bourse (SDB), a major diamond trading center in Surat, India, is facing challenges as the diamond trade suffers a downturn. The bourse, which is set to open this year, is hoping to attract diamond traders from Mumbai, but the industry's slump has made moving into a new facility less appealing. Additionally, there are concerns about Surat's ability to compete with Mumbai as a trading hub, as Mumbai offers more social capital and connectivity to foreign clients. The diamond trade has been hit hard by the recession in the US, the conflict between Russia and Ukraine, and new taxes imposed in Belgium and Dubai. | Mumbai news
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