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DIAMOND INDUSTRY

DIAMOND INDUSTRY

Diamond Industry - Loss of jobs About 20% of Surat’s diamond workers — nearly one lakh people — could lose their jobs over the next six months, Economic Times reports. The reasons range from the government’s recent move to raise import duty on diamonds and tighter norms for getting loans to the rupee devaluation. “A lot of diamonds which used to come to India for re-cutting are now being shipped to China and Thailand,” said Colin Shah of Gem & Jewellery Export Promotion Council. India’s diamond imports fell 32% in the first six months of FY19 to ₹5,289 crore.

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