https://sputniknews.in/20230529/hit-by-g-7-sanctions-on-russian-diamonds-indian-workers-call-for-economic-aid--labour-reforms-2228767.html
Hit by G-7 Sanctions on Russian Diamonds, Indian Workers Call for Economic Aid & Labour Reforms
Hit by G-7 Sanctions on Russian Diamonds, Indian Workers Call for Economic Aid & Labour Reforms
Sputnik India
Indian diamond trade workers in the western state of Gujarat on Monday met the state labour and employment minister Balvantsinh Rajput.
2023-05-29T18:36+0530
2023-05-29T18:36+0530
2023-05-29T18:36+0530
business & economy
russia
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Indian diamond trade workers in the western state of Gujarat on Monday met the state labour and employment minister Balvantsinh Rajput and demanded a wide-ranging economic package for the workers affected.Nearly 90 percent of the world’s diamonds are cut and polished in India, with the state of Gujarat being a major hub in the global diamond supply chain.The US and the UK have imposed an import ban on Russian diamonds, with the G-7 saying in a statement that it would “restrict trade in and use of diamonds mined, processed or produced in Russia” and introduce “tracing technologies” to track Russian-origin diamonds.Zilriya noted that the restrictions on Russian diamond have affected between one and 2.5 million Indian workers in the state of Gujarat.What Do Indian Diamond Trade Workers Demand?Spelling out the demands of the diamond trade workers, Zilriya said that they have called for reforms in labour laws, a compressive economic assistance package, a scheme to re-skill the laid off workers, a financial assistance package for families of suicide victims, a “bonus pay package” and “vacation pay”.Zilriya said that the industry also wants the government to re-instate the 'Ratnadeep’ scheme to re-skill the laid off workers. The scheme was first launched in the state in 2008 amid a slowdown in global demand for diamonds following the Global Financial Crisis (GFC).The trade union president stated that there have been several instances of diamond trade workers having committed suicide due to the distressed situation.Zilriya said that he also urged the state minister to announced a “bonus pay package”, as well as “vacation pay” to help the workers tide over the financial uncertainty that lies ahead.
https://sputniknews.in/20230528/g7s-looming-russian-diamond-ban-could-seriously-harm-india-expert-warns--2204193.html
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russian diamond sanctions, russian diamond price, diamond industry in gujarat, g7 sanctions on russia, g7 sanctions against russia
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Hit by G-7 Sanctions on Russian Diamonds, Indian Workers Call for Economic Aid & Labour Reforms
Traders in India’s diamond trading hub of Gujarat say western importers have objected to importing Russian diamonds cut and polished in India recently. Russia has been a major exporter of rough diamonds to India. The finished product is exported to the US, which is a major market.
Indian diamond trade workers in the western state of Gujarat on Monday met the state labour and employment minister Balvantsinh Rajput and demanded a wide-ranging economic package for the workers affected.
“The minister assured us that the government would look into our concerns,” Ramesh Zilriya, the President of Diamond Worker Union Gujarat, told Sputnik.
Nearly 90 percent of the world’s diamonds are cut and polished in India, with the state of Gujarat being a major hub in the global diamond supply chain.
The US and the UK have imposed an import ban on Russian diamonds, with the G-7 saying in a statement that it would “restrict trade in and use of diamonds mined, processed or produced in Russia” and introduce “tracing technologies” to track Russian-origin diamonds.
Zilriya noted that the restrictions on Russian diamond have affected
between one and 2.5 million Indian workers in the state of Gujarat.
What Do Indian Diamond Trade Workers Demand?
Spelling out the demands of the diamond trade workers, Zilriya said that they have called for reforms in labour laws, a compressive economic assistance package, a scheme to re-skill the laid off workers, a financial assistance package for families of suicide victims, a “bonus pay package” and “vacation pay”.
“Most of the diamond cut and polishing workers don’t get social security benefits such as provident fund (PF), pension and healthcare benefits as they aren’t counted in the formal workforce. At distressing times such as we are facing now, these benefits could really prove to be beneficial,” he explained.
Zilriya said that the industry also wants the government to re-instate the 'Ratnadeep’ scheme to re-skill the laid off workers. The scheme was first launched in the state in 2008 amid a slowdown in global demand for diamonds following the Global Financial Crisis (GFC).
The trade union president stated that there have been several instances of diamond trade workers having committed suicide due to the distressed situation.
Zilriya said that he also urged the state minister to announced a “bonus pay package”, as well as “vacation pay” to help the workers tide over the financial uncertainty that lies ahead.
“Many of the diamond processing workshops have closed down temporarily due to a lack of demand in western countries. They have extended their vacation periods several times this month,” he noted.
