There are about 8-10 lakh diamond workers in Surat, says Diamond Workers Union Gujarat. Most of these workers are neither permanent nor registered employees on the payroll.
Till now, Surat has been the diamond manufacturing hub & Mumbai the export base. However, Gujarat's ease of doing business & lower costs, could make Surat Diamond Bourse a hub for both.
At least eight diamond workers in Surat have died by suicide in the past three months with about 15,000 laid off while the industry's losses have increased from 1% to 15-20% annually in the last five years.
Surat's diamond industry hit by global slowdown, unrest, and floods in Africa, from where raw diamonds are sourced. Workers union says 20% companies have halted operations.
With Covid cases & lockdown norms not letting diamond units work in full capacity, $24 bn industry is looking forward to Diwali season hoping for demand to pick up.
With global economy sinking, safety issues in operations and Covid-19 load, the Surat Diamond Association is focussing on migrants' return and not revival of the industry.
The closure of Argyle, best known as the source of about 90% of the world’s prized pink diamonds, could kick-start diamond prices that have waned since 2011.
The US and Israel’s assassinations of Iranian leadership ended up bestowing martyrdom on those killed. Shias saw the deaths as a continuity of martyrdom from the Battle of Karbala.
India’s fast-growing data centre sector may strain state electricity networks; Central Electricity Authority has urged Maharashtra, Andhra Pradesh, Telangana and Tamil Nadu to boost capacity.
Theaterisation, which aims to divide the forces into three theatres with specific areas of responsibility, will become the single most far-reaching reform that the Indian military has witnessed since independence.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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