The diamond industry in Surat, India—a crucial global manufacturing hub—is currently facing a profound crisis described as a "Quiet Tragedy" by Rapaport reporters. This crisis is heavily impacting local diamond cutters and polishers, leading to intense despair and even the loss of lives among workers. The turmoil is driven by two primary factors: international sanctions that severely restrict the supply of rough stones, and the rapid growth of the lab-grown diamond (LGD) market, which is fundamentally reshaping traditional diamond markets. The report features firsthand stories from the workers, illustrating the human cost of these massive shifts in supply and market dynamics on the ground in Surat.
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