Surat: A major diamond firm Kiran Gems has decalred 10-day vacation due to overall situation in diamond market. It is for the first time that Kiran Gems has declared such vacation. It’s very indicative for overall diamond market which is facing the heat of global situation.

Some small diamond units that lack holding capacity have shut down one-by-one since March this year. Some diamond units have been declaring three days holidays while some have reduced the hours of working.

Kiran Gems has given holiday during 18-27 August to workers. The holiday period is aligned with the festivals. Market insiders opine that this step willl balance the market and keep the jobs of diamond workers intact. The company has not relieved even a single employee even in difficult situation linked to global factors. Kiran Gems has around 50,000 employees.DeshGujarat