Another 200 Diamond Polishers Laid Off in India

Manufacturing
13/12/2015 00:16

At least 200 workers were rendered jobless after a diamond unit owner was forced to close his factory due to the financial crisis and weak market conditions. This is the first incident of a diamond unit closing down post-Diwali vacation. Pre-Diwali, around 350 small diamond units had shut down in Surat rendering over 20,000 workers jobless. The closure of Sai Impex, owned by Mahesh Thesiya at Swaminarayan Nagar at Varacha, has rendered 200 diamond workers jobless. Industry sources said around 15% of the diamond units in the city have yet to reopen, even as Diwali vacation is over. Those who have opened the units after Diwali vacation have cut down on production of polished diamonds by almost 80% because of weak demand in the international market.