The diamond trade in Surat, India, a city known for its mastery in processing nearly 80% of the world’s diamonds, has been plunged into a crisis following the imposition of sanctions on Russian diamonds by the European Union and G7 nations. The sanctions, a response to the Russian invasion of Ukraine in February 2022, cut off a vital supply chain for the Indian diamond industry, sending shockwaves through the city.
The impact was immediate and severe. Exports to Western markets dwindled, businesses struggled to stay afloat, and once-bustling factories fell silent. Workers, who had long enjoyed stable livelihoods, found themselves jobless and facing dire financial straits.
One such worker, Shailesh, a soft-spoken diamond polisher, faced mounting pressure to support his wife and two young children. His income plummeted, and he was consumed by worries about providing for his family. Tragically, overwhelmed by the financial strain, Shailesh took his own life at the young age of 32.
Shailesh’s story is a heartbreaking reflection of the devastating impact of the sanctions on the diamond industry in Surat. His loss is not an isolated case; local reports indicate that at least 63 diamond workers in Surat have committed suicide in the past 17 months, a direct consequence of the industry’s collapse.
The once-thriving diamond trade, synonymous with prosperity and livelihood for thousands in Surat, now casts a shadow of despair. The sanctions, intended to cripple the Russian economy, have inadvertently created a human crisis, leaving countless workers jobless and forcing some to take their own lives. The story of Shailesh and the tragic suicides that have followed underscore the immense human cost of the sanctions, prompting questions about the unintended consequences of economic measures on vulnerable populations.
