Diamond industry in Surat, Gujarat, which has a daily turnover of around Rs.130 crore ($28 million), has been brought to a standstill as the city has been inundated by a relentless torrential downpour over the past few days, according to media reports.
Polishing units have also sustained losses to equipment and machinery as some parts of the city have been under 10 to 15 feet of water since Monday evening.
Surat's monthly diamond output is expected to decline by around 55 per cent, according to Gem & Jewellery Export Promotion Council (GJEPC) chairman Bakul Mehta.
He said that the units would not be operational for another 15 to 20 days, and are expected to remain closed until the flood waters recede.
An overnight discharge of water from the Ukai dam into the Tapti River has improved the flood situation in Surat slightly, however, half of the city continues to remain submerged, officials said.
Gem & Jewellery Export Promotion Council
marketing@alchempro.com
