Diamond Industry of SuratThe word 'Diamond' brings sparkle in every woman's eyes. These precious stones are best weapons to woo a woman, be it proposing for a wedding or gifting on anniversaries. Today diamond epitomizes prosperity, endurance, dignity and peerless quality.
Talking about diamonds and that's when the city of Surat comes to your mind. This city has been a home to world's biggest diamond industry since early 1960's. Surat is the largest market of diamond polishing, cutting and crafting in the whole world.
History Behind Surat Diamond IndustryDiamonds are believed to have been recognized and mined in India first, at the spots where considerably alluvial stone deposits could be found many centuries ago along the rivers Penner, Godavari and Krishna.
The diamond cutting and polishing industry started way back in the 1960s when some entrepreneurs belonging to the Patel community of Saurashtra started importing rough diamonds and exporting polished diamonds. This industry grew gradually until 1980s after which there was rapid growth.
Statistics of Surat Diamond IndustryIn 2005, Surat was reported to have cut 92% of the entire world's diamond pieces and earned India $15 billion in exports. India imports for polishing about $11 billion worth of rough diamonds annually, with 80% coming from diamond mining companies and the rest from Antwerp.
The city contributes to more than 80% of the Indian annual export amounting to Rs 70,000 crore. Every 9 out of 10 diamonds you get to see in the stores in the big cities all over the world is cut and polished in India and 75 % of the credit about the diamonds' shine goes to the Surat Diamond industry.
Future of Diamond IndustryThe industry surely had to face problems like lack of technical expertise in the manpower but with improving skills of the laborers, the Surat diamond jewelry industry is now getting orders of larger and pricier stones.
Arrangements are being made by the state and Surat Diamond Association for training, research, marketing and recognizing new potentials for the diamond industry. Also, the jewellery park of Surat is trying to bring down major diamond manufacturers of Surat under a single roof.
There is an upcoming Jewellery Park for the Gem & Jewellery entrepreneurs which has all state-of-the-art facilities providing international level infrastructure of highest quality standards.