WHILE diamonds are often regarded as timeless treasures, the industries that create these precious gems are currently facing significant challenges. A severe recession has impacted the diamond industry in Gujarat, leading to the closure of more than 2,000 factories—approximately 50% of the total—after the Diwali vacation, according to the Gujarat Diamond Workers Association.
This year, the crisis has driven 45 gem artisans to take their own lives amid rising unemployment. The government has acknowledged in the Rajya Sabha that the diamond sector has struggled for the past three years due to declining demand in key export markets and supply chain disruptions, including G7 sanctions on diamonds of Russian origin.
This story is from the December 11, 2024 edition of The New Indian Express Tirunelveli.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 11, 2024 edition of The New Indian Express Tirunelveli.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Once Upon A Time!
Here's a look into how Aurangabad can become a unique and enriching New Year holiday getaway destination...
Booming Bumrah
PACER, WHO BURST ON TO THE SCENE SIX YEARS AGO, HAS GOTTEN BETTER WITH TIME TO BECOME ONE OF THE MOST INFLUENTIAL BOWLERS OF HIS ERA
Where will India captain bat?
IT'S been a question that followed India captain Rohit Sharma from the moment he landed in Perth.
Coaching & playing: Twin role with purpose for badminton nat'l's finalists
SHUTTLERS Lokeshviswanathan and Naveen P's journey is a tale of perseverance, hard work and resourcefulness. In the just-concluded national championships in Bengaluru, the doubles specialists from Tamil Nadu were one of the standout performers as they reached the title match before going down with a fight.
SA Eye WTC Final in 2-Test Series vs Pak
SOUTH AFRICA will be eyeing a place in the World Test Championship final with an all-seam attack against Pakistan in the first Test, starting Thursday.
Leaders Liverpool host Leicester, Arsenal prepare for life without Saka
CHRISTMAS Premier League chart-toppers Liverpool are overwhelming favourites to see off struggling Leicester on Boxing Day (Thursday).
BPCL to invest ₹6,100 cr for refinery in Andhra
To be one of the largest refineries on East Coast
NFRA penalty on Deloitte, two auditors
THE National Financial Reporting Authority (NFRA) has imposed a fine of ₹2 crore on Deloitte Haskins & Sells as well as penalties on two chartered accountants for lapses in auditing of Zee Entertainment Enterprises during the 2018-19 and 2019-20 financial years.
Govt to reduce fiscal deficit to 4.5% in FY26
THE government will continue its focus on improving quality spending, strengthening the social security net and bring down the fiscal deficit to 4.5% of the GDP in FY26, a finance ministry document said.
Food delivery app Waayu expands to 25 cities
ZERO-commission food delivery app Waayu, which announced its expansion into 25 cities across the country, aims to onboard 10,000 restaurants in six months and targets 1 lakh restaurants in three years.
