With the rise of rupees against dollar, diamond jewelry export is badly affected. “There was a time when any foreigner would come and purchase Diamond Jewelry here because  it was cheaper for them to buy here. But now, we are not getting enough customers because for them ,it is not favorable destination  as rupees has risen against dollar. And we are facing this crisis never before”, says Jitendra Bajaj, a noted jewelry showroom owner of Surat.

Once USA was the biggest market for Indian diamond jewelry export. But recently with the slowdown of US economy, export of Diamond Jewelry is badly affected. And many Surat Diamond companies are now focusing on Middle East, Japan, and European countries for diamond jewelry export.

Gold is an essential metal with diamond for making good looking  jewelry. But prices of Gold are increasing day by day. And eventually production cost of jewelry has increased. Thus this factor has also affected Surat Diamond industry badly.

There was a time when Surat has monopoly in Diamond cutting and polishing business. But after China and Thailand entering into foray, Surat diamond is badly affected. Chinese and Thai government are trying their best to boost up this business in their respective countries .So, margin in Diamond industries are not so as it used to be.