“There are many small diamond cutting and polishing units in western Gujarat, which have been affected due to cyclone Tauktae,” stated Dinesh Navadiya, chairman (Gujarat), Gem & Jewellery Export Promotion Council (GJEPC). These items historically manufacture smaller caratage diamonds. Electricity has additionally not absolutely resumed in all of the locations and employees, who misplaced their properties in the cyclone, are but to return to their workplaces. That is impacting the production of smaller diamonds in the area.”
However, the trade hopes normalcy could be restored quickly, stated Navadiya.
The US and China are main markets for small diamonds which might be minimize and polished in India.
Navadiya stated there may be nonetheless a 20% scarcity of employees in Surat, the key diamond chopping and sharpening hub of the nation. “Those migrant workers who had left during the second wave of Covid-19 are yet to return in full. Some have come while many of them are still staying in their hometowns. Covid numbers have started declining and vaccination is picking up across the country. Soon these workers will return.”
Before the lockdown of 2020, there have been almost 400.000 migrant employees in Surat. After the lockdown was withdrawn, solely 250,000 migrant employees returned whereas the remaining stayed again in their hometowns. This time too, they went again dwelling when instances surged. But now almost 80,000 of them have returned to Surat.
The GJEPC regional chairman stated the demand for minimize and polished diamonds in the abroad markets continues to stay sturdy.
Shipments of gems and jewelry surged to Rs 25,226.11 crore in April, up from Rs 273.41 crore a yr in the past, in accordance to the GJEPC. Exports of minimize and polished diamonds swelled to Rs 16,538.84 crore from Rs 261.19 crore in April 2020.
Imports of tough diamonds in April amounted to 16.3 million carats, a lot greater than in April 2019 when there was no pandemic. Imports had come to a standstill in April final yr amid a nationwide lockdown in the primary part of the pandemic.