India's ‘Diamond City’ dims as Ukraine war hits gemstone industry
SCMP, 28 Jun 2022
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Some two million diamond polishers in Surat, India are at risk of losing their livelihoods because of Russia’s invasion of Ukraine. About 90 per cent of the world’s diamonds are cut in the western state of Gujarat, where the port city of Surat is nicknamed “Diamond City”. Russia is India’s largest supplier of uncut gemstones, but supply and demand have plunged amid Western sanctions against Moscow, a strategic ally of New Delhi.
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