Under the present atmosphere of total despair and loss of hope in the Indian diamond industry, caused by the lockdown precipitated by the corona virus crisis, a welcome ray of hope has emerged from the Indian diamond centres, with the news originating from Surat, the world’s diamond cutting and polishing capital, that the first consignments of cut and polished diamonds, since the lockdown, valued at over US$ 66 million has been dispatched by chartered flight from Surat to Mumbai, for their onward export to Hong Kong.
It has been reported that India has a vast inventory of polished diamonds, worth as much as US$ 5 billion that could not be sold due to the corona virus lockdown imposed on the country on March 25, 2020, expected to continue for another two weeks until May 18th, 2020.
In the absence of passenger or cargo flights due to the lockdown, the first consignment of two batches of 12 and 17 parcels of polished diamonds, were sent on private chartered flight from Surat to Mumbai, from where they were exported to Hong Kong to fulfil online orders.
Since the Bharat Diamond Bourse in Mumbai was closed due to the lockdown, the consignment of diamonds were sent through the Surat Hira Bourse.
Surat-based Shree Ramakrishna Export Pvt. Ltd. (SRK), one of India’s leading manufacturers and exporters of cut and polished diamonds and diamond jewelry, was named as one of the several companies that sent diamonds from Surat to Mumbai late last week, after the Central Government relaxed the guidelines for the resumption of the industry, after the lockdown.