Last Updated: January 11, 2023, 22:26 IST
Surat, known as India’s Diamond City, seems to be losing its shine, as it witnessed around 15,000 job losses in the past few months due to a drop in international demand.
The main centre of India’s diamond industry, Surat houses around 4,000 cutting and polishing units that are a source of livelihood for thousands of workers from across the country. However, plummeting demand for cut and polished diamonds in the West and China has pushed many units in the city to close since Diwali this year resulting in job loss for 12,000 to 15,000 workers, who are still searching for another source of income.
The drying up of work has also forced several other units to lay off around 10 per cent of their employees. The closure of units in the Katargam and Varachha area has also left numerous other artisans jobless.
Amid the shortage in demand, several diamond cutting and polishing units that worked 24X7 in the past, are reducing their work to 8 hours a day. Factories are also introducing a five-day work policy, leading to a huge reduction in workers’ income who are paid per hour of work.
The people who have lost their jobs are looking for other livelihood options and urged the government to help them.
Urging for a diamond package, Surat-based Indian Diamond Institute Chairman Dinesh Navadiya said the gem and jewellery industry is requesting the government to announce supporting measures for the industry in the forthcoming Budget as it holds huge potential to create jobs and increase exports.
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