Iran Strikes Disrupt Dubai Diamond Trade, Surat Industry Faces Major Crisis

Surat: The rising war tensions between Iran, Israel and the United States have badly hit India’s diamond and jewellery business. The conflict has stopped diamond exports through Dubai, bringing trade in Surat almost to a standstill.

Dubai Trade Hub Shut Down

Dubai is a key global diamond centre, especially the Dubai Multi Commodities Centre (DMCC). Many Indian diamond companies operate from there. Due to missile strikes and airspace closures, airports across the UAE have suspended passenger and cargo flights. This has stopped the movement of rough and polished diamonds.

Industry leaders said exports have been fully suspended. Debris near airports and security fears have forced many traders to stay indoors. Some have taken shelter in bunkers.

The Bharat Diamond Bourse confirmed that shipments from Mumbai to the US, Europe, Latin America and Hong Kong have sharply dropped. Less than half of the usual diamond exports are currently moving.

Surat Industry Under Pressure

Surat, India’s diamond polishing hub, is feeling the shock. The Gujarat Chamber of Commerce and Industry warned that the industry was already facing weak demand before the conflict began.

Dubai has traded over one billion carats of diamonds in recent years. With this supply route now blocked, rough diamond availability in Surat has reduced sharply. Higher freight and insurance costs through the Red Sea, along with sanctions on Russia, have increased production costs.

Experts warn that if the situation continues, jobs in the diamond sector could be affected.

Pilgrims Stranded in Mecca

The crisis has also impacted travel. Around 300 Umrah pilgrims from Surat are stranded in Mecca after flight cancellations. Many had travelled via Medina and were due to return through Dubai.

Flights operated by airlines such as IndiGo, SpiceJet and Akasa Air have been cancelled or put on hold due to airspace restrictions.

Some pilgrims from Ahmedabad said families are worried, but local authorities confirmed that those in Mecca are safe. Flights from Jeddah to India remain uncertain.

Earlier, a few traders managed to return to India through routes via Oman and Kochi, but most remain stranded.

With nearly 20 per cent of global oil and trade routes passing through the region, the ongoing conflict continues to create serious uncertainty for business and travel.