Small diamond manufacturers do not have their own and job work due to recession.
Surat : The sparkling diamond gave Surat the identity of diamond city in the world, the diamond industry of Surat is losing its luster. Most of the manufacturers of Surat have declared a Diwali vacation from November 9 as the demand for polished diamond i.e. finished diamond decreased in the global recession. The major companies holding the site holdership of the diamond mining companies have announced a vacation from November 9 to 27 and resumption of work in the company on November 28. But since the factory workers will not get work while working on job work, they have shocked everyone by not announcing the opening date of the factory.
In the days leading up to Navratri, working hours have been increased in Surat’s diamond industry, allowing diamond worker to work from 14 to 16 hours, the working hours have been reduced from 9 am to 5 pm. Even before the Diwali vacation, there has been a two-day production cut in the week, not only that, the diamond workers have also been told that the Diwali vacation should be a month or more instead of 21 days. With the Russia-Ukraine war and the global recession going on, there is now a war between Israel and Palestine, China, America, Europe and now there are fears that trade will be affected in countries in the Middle East as well.
The diamond industry of Surat, the hub of diamond manufacturing, has gone into a severe slump as the demand for diamond jewelery has fallen. Small diamond manufacturers do not have their own and jobwork. Recently in Mumbai five associations associated with the Indian diamond industry announced a voluntary stop on the import of natural rough diamonds from October 15 to December 15, creating a stir in the diamond industry. An email was sent to all the mining companies of the world and it has been informed that India’s diamond companies cannot suffer losses for a long time, so cooperate. On the other hand, when the information of this decision reached diamond workers’ associations, they raised questions. This time the factory will close on November 10 and it is unlikely to open before December 15.