Surat Diamond Company: Many times such decisions are made in the business world that start being discussed everywhere. A diamond company in Surat has taken a similar step. The company has decided to send its 50 thousand employees on leave at once. 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 of polished diamonds in the international market.
Kiran Gems Company cited the slowdown in the diamond sector
According to the website of Kiran Gems Company, it is the world’s largest natural diamond manufacturer. The company’s chairman Vallabhbhai Lakhani said that the employees are being sent on a 10-day leave. We will pay salary to everyone for this. However, there will be a slight reduction in it. We have had to take this decision due to the slowdown 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 the falling demand, other companies in the diamond sector are also being adversely affected. However, he is currently maintaining silence. But, we wanted to tell everyone about this truth, so we had to take this decision. By giving leave to our employees at once, we will be able to manage our work in a better way. At present, nothing can be said properly about the real reasons for this economic slowdown.
Turnover dropped 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 such a tough step of giving leave. 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.
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