Surat: Diamond industry to take 15 days of vacation

SURAT: After a couple of days of the start of the Diwali vacation at schools, diamond units across the city have gone on vacation mode. From Friday, diamond units began closing operations while Saturday will be the last working day before Diwali for most of the units.
The diamond cutting and polishing industry is going to observe vacation from 15 to 20 days depending on the unit’s policy. Most of the units will observe a minimum of 15-day vacation.
Around 3,000 samll and big diamond units operate in the city and 800 of them have more than 500 workers each. Nearly 8 lakh people are connected directly or indirectly with the diamond industry. Majority of the workers and businessmen in the city’s diamond industry are from Saurashtra.
A large number of them are likely to go to their native places in Saurashtra during vacation. “Like every year, the vacation will be for 15 to 20 days and the units have started closing operations from Friday. All units will be closed after Saturday,” said Damji Mavani, secretary, Surat Diamond Association.
“The international diamond market is stable and the business is normal. Since the units have got orders to fulfil, they will resume operation in time. Some small units that have got stock of polished diamonds may extend the vacation by a few days,” Mavani added.
“Normally, the vacation is for 15 days and the industry will be closed for the same number of days this year too. The industry will start functioning regularly between November 5 and 10,” said Dinesh Navadiya, chairman, Indian Diamond Institute.