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Diamond & textiles face the flood fury in Surat
10 Aug '06
1 min read
Diamond and textiles units closure for the last three days in Surat, the diamond city of India, due to flood fury has caused a mammoth loss of crores of rupees to these sectors.
Even though exact figures were not available, Nanubhai Vasani, the Ex-president of Gujarat Diamond Association estimated it at Rs130 crore per day.
He warned that the damage will only multiply as the cutting and polishing units may have to face the possibility of losing out the machinery and equipment as well.
70 percent of Indian diamond exports are from Surat only and almost all major diamond companies have their association with Surat.
Even the petrochemicals units are facing the music with gas production of ONGC, Reliance and Essar at Hazira getting severely affected and Reliance having shut its unit as a precaution.
Even though exact figures were not available, Nanubhai Vasani, the Ex-president of Gujarat Diamond Association estimated it at Rs130 crore per day.
He warned that the damage will only multiply as the cutting and polishing units may have to face the possibility of losing out the machinery and equipment as well.
70 percent of Indian diamond exports are from Surat only and almost all major diamond companies have their association with Surat.
Even the petrochemicals units are facing the music with gas production of ONGC, Reliance and Essar at Hazira getting severely affected and Reliance having shut its unit as a precaution.
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