India's Diamond Industry Calls for a Return to Work

By John Jeffay / May 06, 2020 / www.idexonline.com / Article Link

(IDEX Online) - Diamond factory bosses are urging the Indian government to allow a partial return to work after the nationwide lockdown was again extended, to 17 May.

Some other industries have resumed partial production after rules were relaxed to allow a third of workers to return, albeit with social distancing rules and frequent sanitizing.

But the nature of the cutting and polishing process- with several people working on a single stone - means it's not feasible for diamond workers to observe those rules.

India, which cuts and polishes 90 per cent of the world's diamonds, is sitting on a two-month inventory of polished stones.

The lockdown first imposed on 25 March was extended on 3 May for a further two weeks.

Customers are beginning to cancel their orders and go to other markets, according to the industry body Gems and Jewellery Export Promotion Council (GJEPC).

Its concern is that business will be lost forever to China, which has already emerged from lockdown measures.

Meanwhile the Diamond Workers Union claims many artisan members haven't been paid, and has filed complaints against over 100 employers. 

Recent News

Silver outperformance driven by weak supply growth

July 29, 2024 / www.canadianminingreport.com

Supply data still points to major silver deficit this year

July 29, 2024 / www.canadianminingreport.com

Canada second most significant player in global mining M&A

July 22, 2024 / www.canadianminingreport.com

Plenty of potential for continued rotation out of tech

July 22, 2024 / www.canadianminingreport.com

Platinum to palladium ratio low, platinum to gold high, versus history

July 15, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok