Image credit: Surat Diamond
Colin Shah, Chairman, GJEPC said, “Cut and polished diamonds are a major contributor to overall India’s gems and jewellery exports amounting to $35 bn. Although exports in the first quarter have been severely impacted by the ongoing pandemic, it is heartening to note that exports have commenced from India. As there are orders coming from the US, Hong Kong and parts of Europe for certain types of polished goods, the sector is on the path of recovery. The upcoming holiday season in the western countries would further boost the demand for gems and jewellery.”
According to Sanjay Shah, Convener, Diamond Panel Committee, GJEPC, with India’s overall exports currently pegged at 50%, GJEPC is optimistic about Q3 & Q4 as orders have come in from the US, and demand from China too picked up from September onwards, expecting an additional 10-15% boost in orders.
Dinesh Navadiya, Regional Chairman, Gujarat Region says the COVID cases in Surat’s the diamond sector have reduced considerably, with some factories reporting no new cases in the last couple of months.
Currently, of the nearly 7,000 diamond manufacturing units in Surat, about half are operational. Due to the stringent government guidelines, the factories are now working at 70% capacity.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
