Diamond to glitter this diwali

 

 

Diamond workers — hit hard by the global financial meltdown — are all smiles following the revival of the economy and growing demand of diamond in the local and overseas market. The Rs 700-billion diamond cutting and polishing industry was so down-and-out that it had lost all hope for recovery. But now things are changing fast with the demand of diamond soaring in China. If the slump took the shine off the industry last Diwali this time, it will glitter like never before.

Says, president of Surat Diamond Association Rohit Mehta: “There is a huge demand for diamond workers. The market is reviving because demand from local market and China has increased. Chinese companies, which were our competitors two years back, are purchasing polished diamonds from Surat.”

According to the president of Gem and Jewellery Export Provisional Council, Vasant Mehta the demand of ready-made diamonds in local markets has seen a three-fold increase. “Gujarat’s diamond industry is known for its top quality small size diamonds. The demand in the local market has increased in the last six months. In next six to eight months global demand will soar.” And the industry is girding up to meet that demand. Companies are vying with each other to hire skilled diamond workers. They are wooing them with schemes, like salary rise and guaranteed bonus. Owner of Shree Ram Exports Govind Dholakia says: “The industry needs a great number of diamond workers and for that we have declared 10 per cent salary hike and on this Diwali we will give workers 10 to 20 per cent bonus.”

But hiring skilled workers has become difficult because many had abandoned the industry during recession time. President of Diamond Workers Association Babu Jirawala says: “Most of the skilled workers now have settled in textile industry. We are working with depleted workforce.”