Surat Diamond Company: This company calls itself the world’s largest natural diamond manufacturer. All the employees of the company will be on leave from 17 to 27 August.
Employees Holiday: : Many times such decisions are made in the business world, which start being discussed everywhere. A diamond company in Surat has taken a similar step. The company has decided to send its approximately 50 thousand employees on leave together. All of them will have to remain on leave from 17 to 27 August. All the employees will also be given salary for this. However, this leave is causing worry to the employees. The company has said that it has had to take this step due to the slowing demand for polished diamonds in the international market.
Kiran Gems Company cited recession in the diamond sector
According to the website of Kiran Gems Company, it is the world’s largest natural diamond manufacturer. Company chairman Vallabhbhai Lakhani said that the employees are being sent on a 10-day leave. We will pay everyone salary for this. However, there will be a slight reduction in it. We have had to take this decision due to the recession in the diamond sector. This economic slowdown has troubled us. The supply of rough diamonds is decreasing. Also, the export demand for polished diamonds has also decreased.
Vallabhbhai Lakhani said – Companies are worried due to decreasing demand
Vallabhbhai Lakhani said that due to decreasing demand, other companies in the diamond sector are also getting affected. However, he is currently silent. But, we wanted to tell everyone about this truth, so this decision had to be taken. By giving leave to our employees together, we will be able to manage our work better. At present, nothing can be said properly about the real reasons for this economic slowdown.
Turnover decreased from Rs 2.25 lakh crore to Rs 1.50 lakh crore
Surat Diamond Association President Jagdish Khunt said that 90 percent of the world’s total diamond demand is processed in Surat itself. For the first time, a big company like Kiran Gems has taken a tough step of giving leave in this way. 95 percent of polished diamonds are exported. It has suffered losses due to the Russia-Ukraine and Israel-Palestine war. The diamond industry in Surat has given jobs to about 10 lakh people. But our turnover has come down from Rs 2.25 lakh crore to Rs 1.50 lakh crore in 2 years.
