Business Slumps in Surat, say Manufacturers idexonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from idexonline.com Daily Mail and Mail on Sunday newspapers.
As Russia defies global outrage to launch an assault on Ukraine, the world’s largest diamond cutting and polishing hub, Surat, has almost suspended operations fearing supply disruptions and anticipating hikes in rough diamond prices.
Surat s diamond industry booms post lockdown ANI | Updated: Dec 31, 2020 07:30 IST
Surat (Gujarat) [India], December 31 (ANI): After a fall in diamond exports due to lockdown, the diamond polishing industry in Gujarat s Surat is back on track after seeing the rise in demand by the end of November.
Industry experts said that the reason behind the increase in demand from abroad is due to approaching international festivals like Christmas and Chinese New Year after a relatively long halt of the industry.
Dinesh Navadiya, Regional Chairman, Gem and Jewellery Export Promotion Council (GJEPC), Gujarat, said that as compared to the exports in November 2019, there was a 92 per cent increase in November 2020.