Surat: Exports of gems and jewellery (G&J) surged ahead of the US’s 50% tariff taking effect on August 27, with July shipments growing 16% compared to the same month last year. Cut and polished diamonds (CPD) exports also rose by 18%, reflecting a strong performance despite global trade pressures. After two years of decline, overall G&J exports in July reached $2.17 billion, up from $1.87 billion in July 2024. CPD exports rose to $1.07 billion from $910 million, while polished lab-g...Read More

Surat: The state government had announced a financial assistance package for diamond artisans who lost their jobs earlier this year. As part of this package, the government will bear the cost of education for the children of these diamond artisans and will directly transfer up to ₹13,500 per child to schools towards their fees. Now, the process of application for this aid has concluded, with over 65,000 forms received. As part of the first, second, and third phases of this initiative, around ...Read More

Surat: Despite a global slump in the diamond market, the Carats 2025 exhibition held in Surat saw strong business activity, generating over ₹100 crore in trade, up from ₹75 crore last year. Organized by the Surat Diamond Association at Avadh Utopia, the three-day exhibition showcased a range of offerings, including loose polished diamonds, natural and lab-grown diamonds (LGDs), diamond-studded jewellery, and industry-specific tools. A total of 73 exhibitors, primarily from Surat and Mumb...Read More

Surat: In response to the ongoing slump in global diamond markets, the Southern Gujarat Chamber of Commerce and Industry (SGCCI) on Friday announced the creation of a Diamond Task Force (DTF) aimed at revitalising Surat’s gems and jewellery industry. Dinesh Navadiya, chairman of the Indian Diamond Institute, has been appointed to lead the task force. During the launch meeting, members outlined plans to bolster the industry through exhibitions, vendor development, foreign delegations, and high...Read More

Surat: To provide financial relief to diamond industry artisans and units, the Gujarat government today announced a special relief package. As part of this package, the state government will cover the school fees of the children of diamond artisans who have lost their jobs, ensuring these children do not miss out on education. Announcing the package, Minister of State for Industries Harsh Sanghavi said this aid package is a significant move to support diamond artisans and units in the state and...Read More

Surat: With the summer vacation season ongoing, around 10% of diamond factories in Surat have declared a holiday of over 15 days, with major units involved in polishing rough diamonds planning to remain shut until June 6. The Diamond Job Workers Association has also announced a vacation of 10 to 15 days. Notably, this association used to declare holidays only during Diwali. However, due to the ongoing slowdown in the industry over the last two years, summer vacations are now also being observed...Read More

Surat: In a major boost to the diamond manufacturing sector, Botswana’s renowned Okavango Diamond Company (ODC) has announced plans to set up a rough diamond auction centre in Surat. This move is expected to benefit small-scale manufacturers the most, as they will gain direct access to rough diamonds without needing to travel abroad. The company is likely to begin its operations in Surat by August or September this year. The announcement follows a recent visit by a Federation of Indian Chambe...Read More

Surat: With plans to rejuvenate the diamond market, Surat traders are creating jewellery with innovative and attractive designs. At the Sparkle Exhibition organised by the South Gujarat Chamber of Commerce and Industry, rings with new designs are being showcased, ranging from Rs 2.5 lakh to Rs 10 crore, catering to both genders. However, the ring attracting wide attention is a jasmine ring made of natural pink diamonds, with an international price of Rs 5 crore. With NRI clients increasingly vi...Read More

Surat: The Diwali vacation in diamond units in Surat has been extended for a week. The earlier date of reopening of diamond units was 17 November, which is also the date of reopening of schools after Diwali vacation. However, the diamond unit workers are informed through messages by several companies that the date of reopening is now shifted to 24 November. According to insiders, several units may extend this date further to 30th November. Every year, lakhs of diamond industry workers fr...Read More

Surat: A rare heart-shaped diamond weighing 10.08 carats, valued at Rs 4.55 crore, was stolen from a trader's office on June 24 and found 500 km away from Surat. The diamond was discovered hidden under an earthen stove (Chula) in the village of Sirhoi district, Rajasthan. The theft happened with Chirag Shah owner of Akshat Gems, when the main accused, Hitesh Purohit, swapped the diamond with a lab-grown one valued significantly less than the original on June 24. Mahidharpura police had for...Read More