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Why business of surat diamond is declining?
Surat is said to be best place of Diamond business. But in recent years we are seeing decline. Please can anyone say why? I have a website called http://www.shoppingsurat.com/ mostly I get visitors from us and not local why?
1 Answer
- 1 decade agoFavorite Answer
Becasue of Surat Diamond Industry Surat is called Diamond City.
From my point of view there are following reasons for declining this sparkling industry.
1. ROUGH DIAMOND PRICE INCREASE:- After every three or four six months price of rough diamonds are increasing. Because of this price increase margin in diamond industry is drying out.
2. LOSING DTC STATUS :- Many bigger company's in surat has lost DTC status. Surat Diamond industry consists of middle and smaller firms. And these companies have to be dependent for rough diamond on bigger companies, losing DTC status by bigger companies, these smaller and medium sized diamond are facinf crisis for rough diamond.
3.RASING OF RUPPES AGAINST DOLLAR:- Lion Share of diamond jewelry export market was America. With recent economy fall in america, Rupee went up against Dollar.Thus Diamond jewelry export market badly affected.
I looked into this page. http://www.shoppingsurat.com/surat-diamonds.html it has good information.