The diamond sector in Surat, India, has shown signs of recovery since the slowdown started July 2014.
According to figures of the country’s Index of Industrial Production, the gems and jewellery sector in Surat recorded marked a growth of 33.1 percent in February 2016. Although the trade went down again in March due to the nationwide strike of jewellers that curtailed domestic demand for diamonds, it is believed that the demand will pick up again after the strike, reported Art of Jewellery.
Many shops which were closed down during the slump have re-opened, said Surat Diamond Association president Dinesh Navadia. The industry is facing a labour shortage of 20 to 25 percent because several thousands of workers had shifted to other jobs owing to the slow Diwali and Christmas last year.
With the more-balanced prices of rough and polished diamonds, traders in Surat are more confident in the diamond trade for the following months.
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