As crisis in Surat diamond industry deepens, 20-25% units stay …

Dec 11, 2024 · AHMEDABAD: At least 20-25% of Surat’s diamond industry that paused operations in late October for the Diwali break are yet to reopen due to the continuing …

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As Crisis In Surat Diamond Industry Deepens, 20-25% Units Stay …

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Dec 11, 2024 · AHMEDABAD: At least 20-25% of Surat’s diamond industry that paused operations in late October for the Diwali break are yet to reopen due to the continuing …

hindustantimes.com

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Diamond Industry Crisis In Surat: Job Losses, Suicides, And Hope …

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Sep 30, 2024 · Surat, located in Gujarat, is responsible for polishing 90% of the world’s diamonds. With over 5,000 units and more than 800,000 polishers, the city is a major hub in the global …

theunn.com

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Surat's Diamond Crisis: Lab-Grown Prices Cause Unit Closures

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Aug 16, 2024 · The crisis has been deepened by a staggering 65% drop-in lab-grown diamond prices, a decline fueled by excessive inventory and market instability. Diamond industry giant …

marksmendaily.com

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Diamond Companies In Surat Pause Operations Amid Industry Slump

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Around 800,000 workers are employed in the diamond industry in Surat who handle the cutting and polishing of 80% of the country’s rough diamonds through over 5,000 processing units, …

hindustantimes.com

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Job Losses, Factory Closures Pushing Surat’s Diamond Workers To

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There are about 8-10 lakh diamond workers in Surat, says Diamond Workers Union Gujarat. ... it was down by 20.11 percent to $126.3 million (Rs 1,058.42 crore) from $158.1 million (Rs …

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FAQs about As crisis in Surat diamond industry deepens, 20-25% units stay … Coupon?

Is Surat's diamond business in crisis?

The Economic Times daily newspaper is available online now. Surat's diamond business is in crisis due to declining global demand and competition from lab-grown diamonds. Workers face job losses and reduced wages, leading to economic hardships. Some have turned to alternative jobs like street vending and online content creation. ...

How many people died in the diamond industry in Surat?

In the last few weeks, nine people in Surat died by suicide. They were among 20,000 workers who lost their jobs as the diamond industry was in a crisis. The earnings of the workers fell by 30 per cent as diamond units cut back on working hours, cut down the number of days to five a week and sent staff on unpaid leave. ...

Why is there a job crisis in Surat?

About The Crisis In Surat, the families of 11 lakh workers rely on the cutting and polishing of rough diamonds for their livelihoods. However, an unprecedented recession has led to a significant job crisis affecting all workers. ...

How many people work in Surat diamond industry?

Surat's diamond industry currently employs about 800,000 workers. Recognising that demand for cut and polished diamonds is unlikely to revive soon, GJEPC started a jewellery-making course about six months ago. Beginning of dialog window. Escape will cancel and close the window. ...

Does Surat offer financial support to diamond workers?

The government has the option to offer financial support to diamond workers. However, these professionals are currently unregistered. The industry operates at full capacity during periods of growth” Surat, often referred to as the diamond city, is currently experiencing significant challenges. ...

Is Surat's diamond industry facing a steep price cut?

Ahmedabad: Surat’s lab-grown diamond industry, already grappling with oversupply issues after a shift from natural diamonds, is bracing for further turmoil as De Beers recently announced a steep price cut for its Lightbox brand. The De Beers Group is a South African-British corporation that specialises in diamond mining and retail. ...