look news india
Employee Holidays : : Many times such decisions are taken in the business world that start being discussed everywhere. A diamond company in Surat has also taken a similar step. The company has decided to send its 50 thousand employees on leave at once. All of them will have to remain on leave from 17 to 27 August. All the employees will also be given salary for this. However, this leave is worrying the employees. The company has said that it has had to take this step due to the slow demand of polished diamonds in the international market.
Kiran Gems Company cites slowdown in diamond sector
According to the website of Kiran Gems Company, it is the world's largest natural diamond manufacturer. Company chairman Vallabhbhai Lakhani said that the employees are being sent on a 10-day leave. We will pay salary to everyone for this. However, there will be a slight reduction in it. We have had to take this decision due to the recession in the diamond sector. This economic recession has troubled us. The supply of raw diamonds is decreasing. Also, the export demand for polished diamonds has also decreased.
Vallabhbhai Lakhani said- companies are worried due to falling demand
Vallabhbhai Lakhani said that other companies in the diamond sector are also getting affected due to the decrease in demand. However, they are silent at the moment. But, we wanted to tell everyone about this truth, so we had to take this decision. By giving leave to our employees together, we will be able to manage our work in a better way. At present, nothing can be said properly about the real reasons of this economic slowdown.
Turnover declined from Rs 2.25 lakh crore to Rs 1.50 lakh crore
Surat Diamond Association President Jagdish Khunt said that 90 percent of the world's total demand for diamonds is processed in Surat. For the first time, a big company like Kiran Gems has taken such a tough step of leaving. 95 percent of polished diamonds are exported. It has suffered losses due to the Russia-Ukraine and Israel-Palestine war. Surat's diamond industry has employed about 10 lakh people. But our turnover has come down from Rs 2.25 lakh crore to Rs 1.50 lakh crore in 2 years.
