Diamond Industry

  • Falling value of rupee against dollar hits Surat's diamond industry June 28, 2013

    Surat: The falling value of the rupee against the dollar has taken the shine off Surat's diamond industry. The industry is staring at the possibility of another recession as units are being forced to cut production and workers are finding themselves with fewer jobs. On a normal day, diamond worker Girish...
  • Recession shatters India's diamond dream March 5, 2009

    The global meltdown is finally being felt in India. Gujarat's diamond industry -- which makes up a seventh of the country's foreign exchange revenues, and employs over 8 lakh people -- has been badly hit. Once glittering with opportunities, aspirations and big money, the diamond industry is now reeling. ...
  • Diamond city Surat hit by losses post bomb threat August 2, 2008

    Surat: The diamond bazaars of Surat are usually bursting at the brim for most part of the working week. But this week, it's been dramatically different with downed shutters and deserted streets for three whole days - a rare case especially in Varachha, the densely populated diamond area where the...
  • Diamond workers protest for better wages, shot at July 6, 2008

    Bhavnagar/ New Delhi: A worker died and at least six others were injured when a private security guard fired on diamond cutters protesting for higher wages in Bhavnagar city of Gujarat. The trouble began on Sunday morning when around 40,000 workers demanding a hike wages threw stones and set some cars...
  • Markets recover but Surat still in shock | World scene January 24, 2008

    Surat: Even though the stock market has recovered, traders in Surat are still reeling under the crash. Several diamond and textile merchants like Ashok Mangani invested in the stock market a few months ago. But when the markets had a free fall in the last two days, he and several...
  • Dissent in Guj BJP is taking a toll on diamond industry August 4, 2007

    New Delhi: It's not the kind of welcome you'd think a suspended MLA would get, but like the other Gujarat MLAs suspended by the BJP last month on charges of indiscipline, Dhirubhai Gajera isn't your regular politician. He has deep links with the diamond industry in the state -- links...
  • Criminals prowl Surat diamond industry June 18, 2007

    Surat: The crime-hit diamond industry has witnessed the killing of 35-year-old diamond trader Dayal Bhai Makhwana in the Katargam area of Surat in Gujarat by some unidentified people. Surat, the heart of India's diamond polishing industry, is now the scene of an increasing number of kidnappings and murders. Crime in...
  • Crime mars Surat's diamond trade June 17, 2007

    Surat: A series of armed robberies and kidnappings targeting Surat’s diamond industry has sent the city’s merchants and police in a tizzy. On Monday morning, several armed men robbed the bungalow of diamond merchant Ashok Savani in Surat and even before he could react, the robbers had killed the watchman, ransacked...