Economy
Diamonds
are believed to have been recognized and mined in India 1st, at the spots where
considerably alluvial stone deposits could be found many centuries ago along
the rivers Penner, Godavari and Krishna.
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However,
the diamond industry started when a local businessman in Surat had brought a
boat full of diamond cutters from east Africa to commence the city’s diamond
polishing industry in 1901. T
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He diamond cutting and polishing industry
started way back in the 1960s when some entrepreneurs belonging to the Patel
community of Saurashtra started importing rough diamonds and exporting polished
diamonds.
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This industry grew gradually until the
1980s after which there was rapid growth.
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Also the Patels from Saurashtra and the
Jains from north Gujarat venturing together helped the diamond industry of
Surat prosper.
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The economic reforms in 1991 added to the
enlargement of this industry.
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Statistics of Surat Diamond Industry In
2005, Surat was reported to have cut 92% of the entire world’s diamond pieces
and earned India $15 billion in exports.
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India imports for polishing about $11
billion worth of rough diamonds annually, with 80% coming from diamond mining
companies and the rest from Antwerp.
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The city contributes to more than 80% of
the Indian annual export amounting to Rs 70,000 crore.
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Every nine
out of ten diamonds you get to see in the stores in the big cities all over the
world are cut and polished in India and seventy five you take care of the
credit for the diamonds’ shine goes to the Surat Diamond industry.
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Over 1.5
million people are engaged in the diamond jewellery industry of Surat and that
they have made the city, the heart of the nation’s diamond polishing industry.
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Diamonds account for 54% of the total gem
and jewellery export basket of the industry and India is world’s leading
exporter of Cut and Polished Diamonds.
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Surat and many other cities and towns like
Navsari, Amreli, and Bhavnagar are popular worldwide as big diamond
manufacturing/processing centers whereas Mumbai serves as the diamond trading
hub.
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Future of Diamond Industry The industry
surely had to face problems like lack of technical expertise in the manpower
but with improving skills of the labourers, the Surat diamond jewellery industry is now getting orders
of larger and the pricier stones.
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Arrangements are being made by the state
and Surat Diamond Association for training, research, marketing and recognizing
new potentials for the diamond industry.
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Also, the jewellery park of Surat is
trying to bring down major diamond manufacturers of Surat under a single roof.
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Most of the work has currently become
computerized.
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The number of diamond consumers are
increasing day by day and so is that the demand.
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There is an upcoming Jewellery Park for
the Gem & Jewellery entrepreneurs which has all state-of-the-art facilities
providing international level infrastructure of highest quality standards.
Diamantaires is the
world’s biggest diamond cutting and polishing centre in Surat which has been
giving sleepless nights to the diamond manufacturers in Israel and Antwerp.
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