India’s diamond processors, who polish 11 out of every 12 of the world’s gems, are seeking $4 billion from the government amid a slump in jewelry exports that’s forced companies to lay off thousands of workers. For full story, click here
The diamond-cutting and polishing industry in Surat is regaining its lost sparkle. Around 500 more units in the diamond city have resumed operations in the past month, as a result of which diamond units are looking for workers again. CP Vanani, president, Surat Diamond Association, stated: Surat had 2,500 to 3,000 diamond-cutting and polishing units [...]
BJP candidate Harin Pathak revealed that it might want to keep away from Bapunagar, the diamond hub of Ahmedabad city. The party knows diamond workers are unhappy with it. For full story, click here
Job cuts in the diamond industry has resulted many unemployed diamond workers to take up auto-driving in Surat, Gujrat. YA Bandy, in-charge assistant, regional transport officer, stated: Auto driving is the easiest way to earn livelihood for many in Surat. For full story, click here
Two diamond industry associations in Gujarat have come forward with financial education assistance for the children of jobless diamond workers in the state. Surat Diamond Association secretary Prabhudas Patel, stated: The relief amount would benefit a total of 16,494 children in Surat schools. We have already informed the principals of various schools here that the [...]
The Reserve Bank of India announced the appointment of Task Force to work out a financial package for the diamond industry and diamond workers and has asked Labor department to identify diamond workers. For full story, click here
Traders, cutters, and retailers are all warning that the diamond business’ struggles will cause a restructuring of the entire industry.
Chief Minister of Gujarat in India, Narendra Modi, announced a skill enhancement aid package for diamond workers. For full story, click here
Is diamond time’s definition of coal? That is what wise men say. But diamond workers and traders do not believe diamond is just a chunk of coal that is made good under pressure. For full story, click here
The global fincial turmoil has hit India’s diamond processing industry in a huge way. An estimated 50,000 unskilled, semi-skilled or skilled labourers have been laid off so far in 2009 in Surat. For full story, click here
Get our independent commentary on diamond trends and companies delivered to your inbox.
