20 January: With coronavirus impacting the overall diamond polishing industry in Surat, December month witnessed a significant boost in the polished diamond exports.
The total polished diamond exports rose by 41% year-on-year in December in the previous year as the total stood on Rs. 12,692 crore. Whereas the export count was Rs. 8,000 crore in December of 2019. The data was cited by the Gem and Jewellery Export Promotion Council and reported by TNN.
Surat’s diamond industry was specifically hit hard during the pandemic as many workers fell ill forcing the polishing units to be shut temporarily. The exports of polishing diamonds decreased by 30% during April to November time period in 2020, however, increasing by 158% towards the end of the unforgettable year.
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The export increases were fueled ahead of the holiday seasons reportedly in China and the United States. Both are the main destinations for India’s exported polished diamonds. Other than this, a decreasing covid restriction in India has also contributed towards the increased demand.
This gave a ray of hope to the industry as the boost was much-needed after covid-19 took over the businesses and their operations. Since the pandemic, this is the first time that the industry witnessed a year-to-year increase giving a confidence boost in the sector.
