Current Updates

Following are the updates in the industry of city

1. Some strength is coming in Diamond Industry
2. Buyers are looking for rough diamond
3. Polish demand is picking .
4. Diamond workers shortage seen at some parties
5. Textile industry is also on boom
6. Shortage of worker is also seen there because of recent holidays
7. Election environment is building up slowly

Sparkle Update

Recently, Conference and Exhibition on Gem & Jewellery Industry completed here in surat. It was organized during 26-28 December 2008 by Government of Gujarat and it was a part of Vibrant Gujarat Global Investors' Summit 2009. 2 days conference, one cultural program and 3 day exhibition for business and general public was the events held during this days. Around 70 different companies presented their products. The event got very good response from around 20000 peoples who visited their products. On the last days of event the organizers required to increase entry fee from 50 to 200 Rs. That is 400%, and then also there was much rush on last day. That indicates that there was a great interest in people about exhibition.

Impact of slowdown on Diamond industry

The global economic slowdown has hit India's diamond processing industry badly. An estimated 50,000 unskilled, semi-skilled or skilled laborers have been laid off so far this year in Surat, the country's largest cutting and polishing center for precious stones. Also In Mumbai, the slowdown in demand from the US because of the economic crisis has resulted in over 10,000-12,000 job losses in the last one-and-a-half months.

In surat diamond units are starting slowly from 8 December, still all are not starting, most of units are waiting up to clearing stock of polish diamond before starting new production.

New orders for Christmas, which usually starts coming around the first week of November, have dried up this year. Instead, India's exporters to the US have started recalling unsold inventories to test the domestic market.

hopping to come out from recession as soon as possible.