"The upcoming show in Hong Kong will provide a good market for Indian diamonds. This is a great help as we were going through a recession. This is a good sign for the diamond industry here," said diamont traider Prakash Bhai.
The festival is expected to attract many tourists... prospective diamond buyers.
Rohit Sharma is the president of Diamond Association of Surat. "During the festival season, we not only expect the Chinese to buy diamonds in good amount but also lots of tourists who will visit the fair. They will also be attracted to the jewelry and diamonds showcased there. This in turn will benefit the Surat diamond industry a lot," he said.
The Indian diamond cutting industry was badly hit due to the global recession.
Surat is considered to be India's diamond hub. It employs more than 700,000 workers from across the country. The diamonds are sent to various parts of the world including the Middle East.
The United States, one of the largest markets for diamonds and other gemstones, imports 60 percent of diamonds cut and processed in Surat.
