Wednesday, January 4, 2023

Navsari: Russia-Ukraine war has disrupted this major business in South Gujarat, learn more

Sagar Solanki, Navsari: Diamond industry is a major source of employment for the people of South Gujarat. Because most of the people are connected with this hira industry. It is important that the diamond industry, which was barely sitting after the corona period, has once again fallen into the crisis of recession. The ongoing war between Russia and Ukraine has had a direct impact on India’s diamond industry. Because of this, the diamond industry, which is considered the mainstay of Navsari district, has started to suffer.

The artisan class including the industrialists are also facing a difficult situation. The long-running Russia-Ukraine war has directly affected the diamond industry.

Rough diamond goods in Indian markets mainly come from Russia. Which is currently stopped due to the economic restrictions imposed by America. On the other hand, rough diamonds from other countries are coming in the market at very high prices. But on the other hand, the price of polished diamonds is going down in the global markets. Because of this, it has become impossible for the industrialists to maintain the balance between the purchase of rough and the sale of finished goods and get profit. Due to which, since the last three months, the artisan class who are not living in the diamond industry are not getting enough work. The artisan class is in economic crisis.

The Chinese market, which is the main consumer of thin diamond goods, has also been closed due to Corona. In the Navsari diamond industry, the import of raw materials from Russia and the export of finished goods from the Chinese market have stopped. Thus, the entrepreneurs who are experiencing a break in both import and export have got a double blow. . The diamond industry across the country has felt the eclipse of the war. At that time, due to the restrictions imposed by America on Russia, the import of rough diamond goods has been stopped.

The central government can solve this problem which is difficult for the industry. Due to the close relations between Russia and India, if Russia accepts the Indian rupee and starts importing diamonds, then the industry can flourish again. Due to this, the organizations associated with the diamond industry are requesting the government to intervene in this matter. At that time, the industrialists, including the artisan class associated with the diamond industry, are hoping against the government.

Published by:Vijaysinh Parmar

First published:

Tags: Local 18, Navsari

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