Shortage of labour affecting Surat diamond industry profits

SURAT - A shortage of labour is affecting cutting and polishing jobs in Surat’s diamond industry.

Skyrocketing prices of raw diamonds is a key factor leading to thousands of workers moving away from the diamond industry to other businesses.

“The labour that came into the cutting and polishing jobs of the Surat diamond industry 20-25 years ago, that generation is moving towards retirement. And the new generation that should come in this industry doesn’t have much interest in the cutting and polishing,” said Ajoy Bhattacharya, the Southern Chamber of Gujarat and Commerce Industry president.

“The kids of these people, have completed their studies with graduation and post graduation or MBA and they want to go for some white-collar job and they don’t want to come into cutting and polishing. So, where would you get new labour? When these huge numbers of people will retire then where would you get the new labour?” he added.

The diamond industry is worth Rupees 800 billion in Surat, and constitutes over half of the total diamond exports from India. It employs over 700,000 workers from across the country. Over 2.5 million people are associated with the trade, either directly or indirectly. By Dharmesh (ANI)