All over the world, cut and polished diamonds are produced in Surat. About 30 percent of the rough diamonds produced in Surat come from Russia’s Alrose Company. Firstly, America has banned the rough diamonds of Russia, now European countries have also banned the rough diamonds of Russia, due to which Surat’s diamond industry will face a big problem.
It’s been over a year since the Russia-Ukraine war but its effects are still slowly being felt. Due to US pressure, the Belgian government has now banned Russian diamonds. Due to which Russia’s diamond will not be able to enter Antwerp, Belgium, which is considered to be the diamond hub of the whole world. Whose impact will be on the diamond industry of the world. A message has also been sent to the diamond industry in Antwerp, Mumbai and Surat.
America is the largest diamond market in the whole world. The US had banned Russian diamonds some time ago. Even then the Russian diamond market was good but now there is no boom in the diamond industry. At present, only regular business is visible in the diamond industry. With this decision of Belgium, there is a possibility of some difficult days for the diamond industry. This decision taken by the Belgian government will not come into force with immediate effect, but it will become effective whenever the process is completed. Even though the implementation of the decision will start a little late, but now the concern of the diamond traders of Surat and Mumbai has increased. At present, Alroja Company’s share in rough diamonds coming from all over the world is 30 percent. If the supply of rough is reduced, then it will be difficult to provide diamond work to the artisans.
