The diamond industry in Surat, India, has suffered a devastating blow following the imposition of Western sanctions on Russian diamonds, leading to widespread unemployment and tragically, a surge in suicides among diamond workers. The story of Shailesh, a 32-year-old diamond polisher who took his own life after struggling with financial pressures, highlights the human cost of the sanctions.
India is seeking to establish diamond traceability centres to verify the origins of diamonds, protecting its diamond processing industry from potential restrictions by the Group of Seven (G7) nations. The G7 had proposed setting up traceability centres in Belgium to ensure no Russian diamonds are sold in member nations. India is concerned that this would make export costs prohibitive for Indian producers. India has proposed setting up centres in Surat or Mumbai, which are major diamond processing hubs, and is negotiating with the European Commission on the issue.
