Gujarat's Support Surge: Special Package Brightens Prospects for Diamond Industry
The Gujarat government has introduced a special package to aid the struggling diamond industry by covering workers' children's school fees and offering interest subsidies on capital for polishing units. Announced in Surat, the package aims to provide financial relief amidst international economic challenges affecting the diamond market.
- Country:
- India
The Gujarat government has unveiled a special package aimed at revitalizing the diamond industry, offering to cover school fees for workers' children and provide interest subsidies on capital for polishing units.
Minister of State for Home, Harsh Sanghavi, announced the initiative in Surat, widely known as the 'Diamond City,' where a significant portion of the world's diamonds are processed. The package responds to the downturn in the industry due to global market conditions.
In addition to covering school fees, the package includes an electricity duty exemption for a year, and an interest subsidy over three years for capital investments in polishing units.
(With inputs from agencies.)
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