Gujarat diamond industry demands Rs.20-bn special packageDecember 29th, 2008 - 9:47 pm ICT by IANS
Ahmedabad, Dec 29 (IANS) Gujarat diamond industry and workers Monday demanded a special package worth Rs.20 billion to help the industry weather the global economic slowdown.The Diamond Factory Owners’ Association (DFOA) of Banaskantha district and unemployed diamond workers in Palanpur, Banaskantha district, have jointly organised a protest rally here to press for their various demands, including free education for their children, special loans for diamond factories, monthly unemployment allowances of Rs.2,500.
The workers also demanded relief in bank rate.
DFOA president Amrut Phosi said: “Palanpur alone accounts for about 80 percent of the total diamond trade of the world.”
Following the global slowdown, and tough competition from countries like Sri Lanka, China and Indonesia, things have become difficult for the Indian diamond industry.
“Severe competition has made it difficult to maintain quality and cost,” DFOA secretary D.K. Rajgore said.