Surat Diamond Cutters Diversify into Gold Jewelry
January 01, 25
(IDEX Online) - Diamond cutting businesses in Surat are diversifying into jewelry manufacture amid ongoing weak demand for polished diamonds, balanced by an increased appetite for gold jewelry.
"The units have gradually started doing job work in jewellery manufacturing, " said Vipul Shah, chairman of the Gem & Jewellery Export Promotion Council (GJEPC).
"Jewellery demand is increasing both in India and abroad, therefore, they are trying to leverage this opportunity. In this way, the units Surat are trying to engage workers."
He said around one in 10 of Surat's 5,000 manufacturing units had now started producing jewelry.
Exports of polished diamonds fell by 19 per cent from April to November, according to GJEPC figures, but foreign sales of studded gold jewelry were up by over 14 per cent, and plain gold jewelry by almost 2.5 per cent.
Generic pic of gold jewelry manufacture.