India as a world diamond centre

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Skills required for cutting and polishing diamonds are passed down by workers from generation to generation or picked up in the traditional master-apprentice relationship.

It is the human eye and touch that shape the rough stones and take them to a level of scintillation and brilliance. India enjoys a near-monopoly in the diamond-cutting industry, but it is the low wages and easy availability of labor that keep the industry profitable.

India gets a lot of small diamonds to cut and polish. The detailed nature of the work and the repetitive strain of cutting and polishing these tiny specks of stones make it labor-intensive and often unhealthy. Besides, the small stones often need sharp eyes and deft hands. Thus children are often top 10 diamond traders in india prized in this trade. Their keen eyes and small, nimble hands can cut stones that are sometimes no more than a speck of light. These are called half-pointers — top 10 diamond traders in india make a carat, which is one-fifth of a gram.

Child labor is illegal in India but remains widespread. By conservative estimates 13 million top 10 diamond traders in india work in India, many in hazardous industries. The diamond merchants of Bombay now called Mumbai that control the Indian diamond trade do not cut diamonds themselves. That job is reserved for workers who migrate from the villages to the city for better jobs. The workshops that employ them receive the uncut diamonds on a piecework basis from a distributor working on a commission for the merchant.

A few are processed in larger factories. Each room had three to five cutting wheels with workers squatting around each. These areas are often the source of accidents as they are left unguarded, and workers live and sleep by them. Most cutters are males and did not seem to call option and put option trading beyond their 20s — many were much younger, some under Since the Surat diamond industry has been in a harsh spotlight for poor working conditions, some merchants are trying to clean up top 10 diamond traders in india act, and the diamond district is trying to shed its grimy past.

As the country opens up to international trade, there is pressure to follow global labor laws and better business practices. In many areas dingy workshops have given way to swanky workplaces where workers use computerized planners and laser cutters. A Times of India report states: But there is much debate about the actual wage as rates differ widely in an industry that is not regulated and often exploitative. The Secret World of the Diamond Cartel, wsws.

Want more world news? Join us on Facebook Follow us on Twitter. World news on NBCNews. Grime behind the glitter? From the mines in Africa, to polishers in India, to retailers in the West, follow a diamond's global path to market. Cutting and polishing related. Most active discussions votes comments. Search Most popular on msnbc.

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The listed 15 countries shipped Among the above countries, the fastest-growing diamonds exporters since were: Those countries that posted declines in their exported diamond sales were led by: United Kingdom down The following countries posted the highest positive net exports for unset diamonds during Israel has the highest surplus in the international trade of unmounted diamonds.

The following countries posted the highest negative net exports for unset diamonds during China and the United States incurred the highest deficits in the international trade of unmounted diamonds in Shown within parenthesis is the country where the company is headquartered. According to global trade intelligence firm Zepol, the following companies are multinational diamond traders located in the country shown within parentheses:.

You can change the presentation order by clicking the triangle icon at the top of any of the columns below. The World Factbook, Field Listing: Exports — Commodities , Central Intelligence Agency.

Accessed on May 24, Trade Map , International Trade Centre. Investopedia, Net Exports Definition. World's Top Exports Trade metrics that inspire global thinking. Countries Below are the 15 countries that exported the highest dollar value worth of diamonds during According to global trade intelligence firm Zepol, the following companies are multinational diamond traders located in the country shown within parentheses: Hari Krishna Exports Pvt.

India Debswana Diamond Company Ltd. Precious metals , Spotlight , Top products. What is the most valuable export product from Japan: Integrated electronic circuits, cars, smartphones, auto parts or heavy machinery?

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