Demand for Lab-Grown Diamonds Lifts Business in Surat Ahead of Diwali; Workers Offered 10% Bonus
Summarized by AI; it may make mistakes. Check important info
Summarized by AI; it may make mistakes. Check important info
The growing international demand for lab-grown diamond jewellery ahead of Christmas is bringing relief to Surat's diamond workers this festive season, with factories receiving encouraging orders and some owners announcing a 10% bonus for employees who resume work shortly after Diwali.
The incentive is aimed at ensuring that workers return to factories within four or five days of the festival as diamond cutting and polishing units prepare to meet rising demand from overseas buyers.
Diamond Units to Operate Until Dhanteras
Mukesh Patel, president of the Lab-Grown Diamond Association, said demand for lab-grown diamond jewellery was improving across international markets, with traders receiving good orders ahead of the Christmas season in November and December.
"Considering the demand we are currently witnessing, cutting and polishing units across the diamond industry are operating until Dhanteras. Many workers are also expected to resume work within four days after Diwali," Patel said.
Patel said he had predicted around one-and-a-half years ago that better days were ahead for diamond workers, adding that the current improvement was only the beginning.
Workers to Get 10% Bonus for Early Return
Several diamond factory owners have announced a bonus equivalent to 10% of workers' monthly earnings for those who return to work on the fourth or fifth day after Diwali.
The bonus will be calculated based on the value of work completed during the month. Patel explained that workers who normally complete work worth ₹50,000 a month could earn ₹70,000 to ₹80,000 this month by putting in additional hours.
Those earning ₹80,000 would also be eligible for a 10% bonus on that amount in the following month, provided they return to work within the stipulated four-to-five-day period after Diwali.
Patel said the rise in international demand for lab-grown diamond jewellery was creating fresh business opportunities for the industry, particularly as overseas buyers stepped up orders ahead of Christmas.
