Mumbai diamond traders are shifting base to Surat

Many diamond traders from Mumbai have shifted to Surat as the diamond exporters are trying to bring down costs and integrate the polished diamond business. Besides, the lockdown brought trading activities in Mumbai to a standstill, though export and import did happen from Surat, prompting the trade to relocate a portion of their businesses there.The trend gathered momentum from January when 65% -70% of diamond imports in value terms took place