For the last 15 years Surat's diamond polishing Industry has evolved at jet speed. Here are the reasons why
Suchayan MandalDec 20, 2016, 02.46 PM
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So how have the art of polishing of diamonds in Surat evolved in the last few decades? Jonathan
The industry surely has to face problems like lack of technical expertise in the manpower. However, with improving skills the Surat diamond jewelry industry is now getting orders of larger and pricier stones. The irresistibly lucrative market processing the diamond jewelries are day by day getting bigger. Not only diamond polishers, the state is aiming to develop the laborers as jewelry makers in the true sense with an overall development.
To make things work better,
Kendall further said, “From cutting and polishing rough diamonds to consumer demand for diamond jewellery, India is vital to the diamond industry and the diamond industry is vital to India. Through the IIDGR,
Representing a key source of export earnings for the national economy, the diamond sector is vital to India. Around 90 per cent of the world’s rough diamonds are cut and polished in the country, with the sector employing around 800,000 people in highly-skilled jobs.
India has also experienced almost uninterrupted growth (in
Around nine out of every 10 diamonds are cut and polished in India. The Indian diamond industry’s midstream sector employs more people than the diamond sector in any other country around the globe, with about 800,000 people employed in highly skilled diamond roles in the country.
India is the third largest national consumer market for diamond jewellery sales globally, only behind the US and China in the global league table. In the ten year period leading up to 2014, the value of consumer sales of diamond jewellery in
India almost trebled to around Rs 22,000 crore (Rs 220 billion) / around USD4 billion. Around 25 lakh (2.5 million) pieces of diamond jewellery were acquired by Indian women in 2013, roughly six times the number acquired in 2002.