Diamond units to work five days a week

Various diamond cutting and polishing units in Gujarat have decided to work five days a week till January next year to weather the global slowdown, a member of Surat Diamond Association said.

The move is a sequel to reports that the global slowdown is hitting the industry hard and vis-à-vis the threat of lay-offs is also doing rounds.

"Diamond associations have taken a decision to open the units five days a week for at least two months so that there are no lay offs in the industry and the existing inventory can be utilised," Surat Diamond Association president CP Vanani said. The decision was taken during the state convention of diamantries held in Surat on Monday.

"We have already taken a decision to delay the regular vacation period by a week's time, and units will now re-open on December 8. Five days a week schedule shall last till end of January 2009," he added.

"On the call of our apex body Gems and Jewellery Export Promotion Council (GJPEC), diamantries across the country including Gujarat, will not import diamonds between November 25 to December 30," Ahmedabad Diamond Association president Vinu Jogani said.

"In six months time, I expect things will be back on track. There will be no impact on the exports," he asserted.

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