Surat, renowned as the Diamond Capital of the World, has launched the Diamond Task Force to boost its gems and jewellery industry globally. Initiated by the Southern Gujarat Chamber of Commerce and Industry (SGCCI), this task force aims to strengthen Surat’s position amid the current global diamond market slowdown.

Why Surat Formed the Diamond Task Force

Due to declining global demand, Surat’s diamond industry faced challenges. To address these, SGCCI established the Diamond Task Force.
Dinesh Navadiya, Chairman of the Indian Diamond Institute and former regional head of the Gem and Jewellery Export Promotion Council (GJEPC), has been appointed as the Chairman of the task force.

Key Focus Areas of the Diamond Task Force

1. Strengthening the Diamond Industry Ecosystem

2. Promoting Technology and Skill Development

3. Branding and Marketing Initiatives

4. Major Trade Events and Buyer Meets

Lab-Grown Diamonds: Surat’s Rising Strength

Surat’s efficient diamond manufacturing, especially in lab-grown diamonds, is gaining international recognition. With only 7% to 8% wastage, Surat is well-positioned to lead this fast-growing segment.

Industry experts predict that lab-grown diamonds will play a key role in Surat’s jewellery exports in the coming years.

Policy Support and Advocacy

The Diamond Task Force will also advocate for:

• Policy changes to simplify trade
• Tax reforms, including GST
• Infrastructure development

Why This Move Matters

Surat already processes nearly 90% of the world’s diamonds and boasts cutting-edge infrastructure, including the Surat Diamond Bourse, the world’s largest office building and the ambitious DREAM(Diamond Research and Mercantile City) City project. However, external challenges such as tariffs and market volatility have threatened growth.

This task force aims to:

• Safeguard Surat’s dominance in the diamond trade
• Future-proof the city’s jewellery ecosystem
• Empower its workforce through skill development and technology
• Sustain global buyer confidence through consistent quality and innovation

The formation of the Diamond Task Force marks a transformative moment for Surat’s diamond industry. By blending traditional craftsmanship with modern strategies, this initiative promises to usher in a new era of innovation, sustainability, and global leadership for Surat’s gems and jewellery sector.

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