Russia (Russia ) And Ukraine (Ukraine ) In the diamond industry for other reasons such as the war between them and the rising value of the dollar (Diamond Industry ) Sales of polished diamonds have declined. It is learned that due to which small and medium diamond manufacturers of Surat have announced vacation till May 22 in the factory. According to the details received, the war between Russia and Ukraine has also directly affected the diamond industry of Surat. The US sanctions have led to a drop in international sales of polished diamonds and a rise in the price of rough diamonds from Russia.
In addition, rising dollar prices are now making it more expensive for traders as well as manufacturers to buy rough diamonds. In such circumstances, small and medium diamond manufacturers will not have to bear further losses, and a three-week vacation has been declared to avoid financial burden. And these advertising boards have been installed in small as well as medium factories. The boards also went viral on social media.
It has been stated that small and medium diamond manufacturers have declared a complete vacation till May 22 and it has also been decided to start diamond factories after May 23. However, diamond industrialists are saying that it is difficult to say whether small and medium diamond factories will be set up after May 23.
According to the president of Ratnakalakar Sangh, at present this can only be called a sign of recession. Because most small diamond industrialists do not have a job. Which is why I have to take a vacation. In which the condition of the jewelers has become the worst. It is not wrong to say that a big question will arise in the coming days against their employment due to lack of work. The government needs to address this situation.
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