Surat diamond industry faces worst recession in 50 years, artisans threaten strike

Surat : Surat, the global hub for diamond polishing, is grappling with the most severe recession in its 50-year history, leaving 17 lakh diamond artisans in financial distress. With factory closures, pay cuts, and rising unemployment, the workers are demanding urgent government intervention. Frustrated by the lack of relief, artisans have now threatened a mass strike on March 30.

Massive Unemployment and Factory Closures

Surat is responsible for polishing 90% of the world’s diamonds, but the industry is now in turmoil. The recession has forced several factories to shut down, and those still operational are struggling to provide sufficient work to artisans. Salaries have been slashed by 50%, leaving workers struggling to survive. The crisis has escalated to such an extent that 52 artisans have reportedly taken their own lives in the past year due to financial hardship.

Protests at Surat District Collectorate

Amid growing despair, a large number of jewelers and diamond artisans staged a protest at the Surat District Collectorate on Monday. Holding placards, they demanded immediate financial assistance from the government to survive the crisis. Many workers raised concerns over the increasing number of suicides in the industry and called for urgent intervention.

Bhavesh Tank, vice-president of the Diamond Workers Union Gujarat (DWUG), stated, “All top industry leaders, government officials, MPs, and MLAs have been informed about the dire condition of diamond artisans. However, no relief package has been announced yet.” He also criticized the authorities for restricting demonstrations, saying, “We are denied permission to hold dharnas, rallies, and fast-unto-death programs in the city by the Surat police.”

Reasons Behind the Recession

Industry experts have cited various reasons for the economic downturn, including global economic slowdown, reduced demand for diamonds, and geopolitical conflicts. The ongoing war in different parts of the world has disrupted the supply chain, further aggravating the crisis.

Threat of Strike on March 30

With no relief in sight, diamond artisans have issued a final warning, threatening to go on strike on March 30 if their demands are not met. This strike could further cripple the diamond industry, which plays a crucial role in India’s exports and economy.