Surat: In the wake of the ongoing war between Russia and Ukraine, the US has imposed a ban on Russia’s Alrosa mine, which has now affected the diamond industry in Surat. Due to non-availability of Rough of Alrosa, there is a shortage of Rough in the Diamond Industry of Surat, due to which the operations in the Diamond Factories of Surat have come down. Therefore, the diamond manufacturers have taken a decision which has caused the biggest problem for the jewelers.
- The U.S. ban on Alrosa diamonds has led to a shortage of rough in the diamond industry
- Diamond manufacturers reduced the working hours of jewelers by two hours
- If the production takes only 6 hours instead of 8 in a shift, then the salary of the artisans is reduced
- Rough case between two groups in the diamond industry, causing tension in the industry
The US ban on Alrosa diamonds has led to a shortage of rough supplies for diamond manufacturers. Due to the shortage of rough, the working hours of diamond workers have been reduced by two hours. Production is only 6 hours instead of 8 in a shift. The U.S. ban on Alrosa diamonds has led to a shortage of rough supplies for diamond manufacturers. A group with a large stock of rough is demanding a month-long supply of rough.
So another group is protesting. The United States has banned Russian diamond mining company Alrosa over its involvement in the war in Ukraine. The US Department of Business and Trade has issued a stern warning to Indian diamond and jewelery exporters that ready-made diamonds or diamond-encrusted jewelery from Alrosa cannot be shipped to the US. If industrialists cheat with bogus certificates, their trade will be adversely affected. No clear decision could be taken at the meeting of Surat-Mumbai exporters at the Bharat Diamond Bourse in Mumbai. Rough 4 billion a year comes to Surat and Mumbai via Dubai and other channels. These roughs are converted into finished diamonds and shipped to America on a large scale. Russian diamonds or jewelry will not be sold in America. That is why production has been cut.