Bharat Diamond Bourse to stop operations amid surge in COVID cases

The country’s largest diamond exchange Bharat Diamond Bourse has decided to stop operations amid spiralling coronavirus cases in the city. The Mumbai-based bourse, which handles around 98 percent of the country’s diamond exports, will close its operations from 8 pm onwards on April 5 ”till further communication”, according to a communication sent to its members.

The exchange decided to take this step after the Maharashtra government announced restrictions across the state due to the spread of the pandemic, the communication said. Bharat Diamond Bourse is spread over 20 acres in the Bandra Kurla Complex that houses nearly 2,500 small and large diamond traders. The complex also has customs house, banks and other service providers, who cater to the gems and jewellery trade.

Members have been asked to carry their cheque books, valuables, laptops and other necessary documents before vacating the premises on Monday, as per the communication. The members have been requested to keep alarm systems functional as part of security requirement.