https://sputniknews.in/20230928/indian-diamond-workers-urge-g7-to-lift-restrictions-on-russian-diamonds-4492572.html
Indian Diamond Workers Urge G7 to Lift Restrictions on Russian Diamonds
Indian Diamond Workers Urge G7 to Lift Restrictions on Russian Diamonds
Sputnik India
The Diamond Workers Union of Gujarat, which represents the interests of millions of Indian diamond industry workers, has urged the G7 nations to lift restrictions on trading of Russian diamonds.
2023-09-28T19:27+0530
2023-09-28T19:27+0530
2023-09-29T13:51+0530
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The Diamond Workers Union of Gujarat, which represents the interests of millions of Indian diamond industry workers, has urged the G7 nations to lift restrictions on trading of Russian diamonds, according to a letter handed over to the visiting G7 delegation.A copy of the letter has been shared with Sputnik India.The workers’ union said that a "partial ban" on Russian diamonds has already rendered a large number of Indian workers jobless.It warned that a "complete ban" would affect millions of Indian workers and their families.The workers body called for adequate compensation from G7 nations if they continue to impose curbs on Russian diamonds.The letter was handed over to the G7 delegation by the workers’ union during a recent visit to the Indian state, a representative told Sputnik India.Importance of Russian Diamonds for Indian IndustryNearly 90 percent of the global diamonds are cut and polished in India, with the western state of Gujarat being a key point in the global supply chain. In fact, the city of Surat in Gujarat is globally renowned for its diamond polishing industry.Nearly 30 percent of the diamonds imported into Gujarat are believed to be of Russian-origin.The G7 countries constitute a major market for imported diamonds polished in India.In spite of curbs by G7 on Russian diamonds, India’s import of Russian diamonds grew 35 percent in the first six months of 2023 as compared to last year to reach $616 million this year.
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Indian Diamond Workers Urge G7 to Lift Restrictions on Russian Diamonds
19:27 28.09.2023 (Updated: 13:51 29.09.2023) A delegation from G7 countries visited the Indian state of Gujarat, a major global diamond trading hub, to study the spillover effects of restrictions imposed on trade of Russia-origin diamonds.
The Diamond Workers Union of Gujarat, which represents the interests of millions of Indian diamond industry workers, has urged the G7 nations to lift restrictions on trading of Russian diamonds, according to a letter handed over to the visiting G7 delegation.
A copy of the letter has been shared with Sputnik India.
"Due to the decision (to impose restrictions on Russian-origin diamonds) by the G7 countries, a large number of workers in the sector will be unemployed and their families will face a bleak future. Protecting their human rights is a shared responsibility. We urge the G7 countries that their human rights and interests be protected," the letter urged the western nations.
The workers’ union said that a "partial ban" on Russian diamonds has already rendered a large number of Indian workers jobless.
“At present, thousands of our workers have become unemployed due to recession. The incidents of suicide among workers are on the rise. Millions of our workers will be left unemployed if the G7 countries impose a ban on Russian diamonds,” the letter reads.
It warned that a "complete ban" would affect millions of Indian workers and their families.
The workers body called for adequate compensation from G7 nations if they continue to impose curbs on Russian diamonds.
The letter was handed over to the G7 delegation by the workers’ union during a recent visit to the Indian state, a representative told Sputnik India.
Importance of Russian Diamonds for Indian Industry
Nearly 90 percent of the global diamonds are cut and polished in India, with the western state of Gujarat being a key point in the global supply chain. In fact, the city of Surat in Gujarat is globally renowned for its diamond polishing industry.
Nearly 30 percent of the diamonds imported into Gujarat are believed to be of Russian-origin.
The G7 countries constitute a major market for imported diamonds polished in India.
In spite of curbs by G7 on Russian diamonds, India’s import of Russian diamonds
grew 35 percent in the first six months of 2023 as compared to last year to reach $616 million this year.
Significantly, as previously reported by Sputnik, Prime Minister Narendra Modi, who hails from Gujarat, has taken up the plight of Indian diamond artisans with his G7 counterparts at the Hiroshima Summit this year.
