Surat’s diamond traders are looking forward to the upcoming festive season, have also stocked up, see what happens!

Traders were anticipating a good demand for polished diamonds and jewellery, in view of a significant Christmas for the diamond industry. However, the situation is worrisome for the diamond industry with orders being lower than expected so far. Now in such a situation, there is a possibility of less business than expected in the business at the time of Christmas.

According to information received from diamond industry sources, most of the polished diamonds produced in Surat are exported to America, Europe, Hong Kong. Christmas is celebrated with great pomp in some countries abroad. Jewels are also given as gifts to each other on this occasion. This increases the demand for cut and polished diamonds from Surat. Diamond makers start receiving orders from the month of September, but this year orders are being received less than expected. Due to which the traders are confused. Traders say business has slowed down a bit since the Las Vegas show. Some traders have already taken stock in the hope of a good trade, the effect of which is also visible. The business seems to have been less than what it should be at Christmas time.

In this regard, Gujarat Regional President, Gems and Jewelery Export Promotion Council, Vijay Mangekia said that this year the inflow is less than the previous years when orders were received in the month of Christmas in September. In the US too, there was a recession in the last few days. Apart from this, some industrialists have stock of goods. So from the current situation, it seems that this year orders will be less than expected.