Surat: After the easing of the lockdown, the diamond industry of Surat has been facing recession for some time now. But once again, Surat's diamond industry is booming. This year’s rough diamond exports are 50 per cent higher than last year’s.
Demand for rough diamonds is currently on the rise due to the closure of voluntary imports in June and July due to the lockdown. This has reduced the stock of rough diamonds from the pipeline by Rs 1.8 billion and reduced the economic burden on traders. Experts are predicting better days during Diwali and Christmas.
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Dinesh Nawadia, president of the Gems and Jewelery Promotion Council, told ETV Bharat that the import of raw materials has stopped due to the closure of international flights. Smaller businessmen in the MSME sector do not have offices abroad which people in the bigger sector do. They buy and sell rough diamonds. So we have demanded to start international flights for the diamond traders. Demand for rough diamonds in the current market has also increased significantly due to the closure of voluntary imports in June-July and its prices have also gone up locally. The graph of rough diamond imports has been increasing in the last two months due to the strong environment in the international market, which is an auspicious sign.
