SURAT: The Diamond city has created a record of sorts with the import of rough diamonds directly to Surat witnessing a massive surge compared to the traditional gateway Mumbai.
According to Gem and Jewellery Export Promotion Council (GJEPC), the rough diamond imports in Surat was nearly four times more than Mumbai, the hub of diamond trading, during the current financial year.
Up to February this financial year, Surat imported rough diamonds worth $13,194 million as compared to $3,706 million that came into Mumbai.
In the financial year 2019-20, city's import of roughs marginally more than that from. Surprisingly, the import of roughs in Mumbai dropped drastically in 2020-21 during Covid-19 pandemic while it grew slightly in the city. However, the city's famed diamond cutting and polishing industry regained its sparkle rapidly.
"The major reason for such a big surge is that smaller diamond manufacturing units have started importing rough directly to the city. They are taking delivery through the courier here," said Dinesh Navadiya, regional chairman, GJEPC.
"Earlier, some other people, who were traditionally importing roughs, used to get them at Mumbai and later the Surat-based units collected them. Hence, the imports in Mumbai were high. GJEPC ran programs to create awareness among the unit owners to empower them and they gradually started importing directly here," said Navadiya.
Experts claim the GST-related formalities are also one of the reasons for directly importing the roughs to the city instead Mumbai. The roughs reach India from different mining countries across the globe through air. "If they import at Mumbai, they will have to do processes related to GST for transporting the consignments to Surat," Navadiya explained.
Govind Dholakia, chairman of Shree Ramkrishna Export, said, "The roughs imported to Mumbai ultimately reache the city for polishing. But due to limitations of transport and customs infrastructure earlier, the majority of manufacturers preferred to get it from Mumbai through traditional routes."
Another leading diamantaire, Vallabh Lakhani of Kiran Gems, said, "Manufacturers did not have enough knowledge and understanding that roughs can be imported directly to the city. Now, we have adequate infrastructure which has made it possible."
