Gujarat Govt Unveils Special Package for Diamond Industry

The Gujarat Government announced a special package for the diamond industry under which it will pay school fees for workers' children for a year and offer interest subsidy on capital for polishing units.

- PRESS TRUST OF INDIA

Minister of state for home, Harsh Sanghavi, made the announcement in 'Diamond City' Surat, where 90% of the world's diamonds are cut and polished. The diamond industry has been hit by a slowdown due to international factors.

Under the special package, the government will pay school fees for the children of the affected diamond workers for a year. While polishing units will get exemption from electricity duty for a year, the government will offer an interest subsidy for three years on a capital of Rs 5 lakh.