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Surat.. From Local City to Global Diamond Capital

Waleed Farouk When the name 'Surat' is mentioned, it doesn't merely evoke a city on India's western coast in the state of Gujarat, but rather a global hub for diamond cutting and trading, a place where rough stones from the farthest corners of the world are transformed into brilliant gems adorning the world's finest jewelry houses. Diamond Polishing Industry: Global Leadership Rooted in a Local City According to recent estimates, Surat is responsible for polishing over 90% of the world's diamonds and more than 99.99% of those processed within India. This makes the city the backbone of India's gemstone exports, accounting for around 90% of the country's total diamond exports. These figures are not mere statistics; it is estimated that 9 out of every 10 diamonds sold in Manhattan's bustling markets have been polished in Surat. A Historical Journey That Began by Chance... and Grew with Opportunity Surat's journey with diamonds began in the early 20th century when two brothers from the Gujarati Patidar community returned from South Africa in 1900, bringing with them the craft of diamond polishing. However, the real turning point came post-World War II when Indian artisans fled Rangoon (now Yangon) in Myanmar during the Japanese invasion, returning to Surat and reviving the trade. Their return embedded technical expertise in the city. During the diamond demand boom in the U.S. in the 1970s and 1980s, the industry expanded rapidly, establishing Surat as a global center for diamond processing. From Traditional Craftsmanship to Advanced Technology What sets Surat's diamond industry apart is its evolution—from a purely artisan-driven craft to one embracing high-precision technology. Where polishing once relied on primitive cement wheels, today's Surat workshops are equipped with state-of-the-art laser cutting tools, aligning with international standards of quality. Family-run businesses play a crucial role in the industry, often spanning three generations under one roof, ensuring the transfer of knowledge and continuity of skill. A Global Network from Africa to Surat The journey of a diamond typically begins in mines across Africa, Russia, or Canada, then makes its way to global trade hubs such as Antwerp in Belgium, before reaching Surat. Here, over 700,000 workers in more than 6,000 manufacturing units transform rough stones into dazzling gems—an industry valued at approximately $24 billion annually. The Gujarati diaspora in Antwerp played a vital role in cementing the trade link between the two cities, creating a seamless commercial channel for rough diamond imports and global exports. A Local Economy Fueled by Industry Surat's GDP reached around $40 billion in 2016 and climbed to $57 billion by 2020, thanks to its diverse industrial base that spans textiles, petrochemicals, shipbuilding, automotive manufacturing, and ports, alongside diamonds. The diamond sector remains a cornerstone of this economy, generating hundreds of thousands of direct and indirect employment opportunities. Challenges of the Era: Pandemic and Demand Decline Despite its industrial strength, Surat wasn't immune to global disruptions. In 2019, India's diamond exports fell by 18% amid weakening global demand. The situation worsened in 2020 with the outbreak of COVID-19, which forced manufacturing units to halt operations for several months. However, the industry quickly bounced back, driven by renewed demand in Asian and U.S. markets and bolstered by the integration of infrastructure and skilled labor. Surat: Where Local Becomes Global In Surat, the mantra 'Think globally, act locally' comes alive. It is a city where artisanal skill meets cutting-edge technology, transforming raw stones from distant continents into jewels showcased in New York, Paris, and Tokyo. As Surat continues to cement its place as the world's diamond capital, its story stands as a testament to how a local city can emerge as a shining node on the global economic map. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Arts & Culture "Jurassic World Rebirth" Gets Streaming Date Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks