Surat Manufacturers Extend Summer Vacations

By John Jeffay / May 24, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Manufacturers in Surat are reportedly extending their summer vacations as the recession hits and consumers in the US and Europe boycott Russian goods.Slow demand is forcing many units to lay off staff, reduce working hours or insist on longer vacations to avoid overproduction.There are also concerns that the G7 and EU countries -  which have not so far sanctioned Russian goods - may soon decide to do so.Hitesh Patel, managing director of Dharmanandan Diamonds, told Hindustan Times: "Many companies have decided to go on an extended vacation."Our company has also decided to go on a vacation from May 10 till about May 20, which we do every year. We may extend it by a few days." Bhavesh Tank, vice-president of the Diamond Workers' Union Gujarat (DWUG), claimed there had been 10,000 layoffs in Surat over the last two months.

Recent News

Another 'Bubble Check' for the gold sector

September 08, 2025 / www.canadianminingreport.com

Gold stocks continue to hit new highs

September 08, 2025 / www.canadianminingreport.com

Some mining stocks exposed to Burkina Faso take major hit

September 02, 2025 / www.canadianminingreport.com

Gold stocks again hit new highs

September 02, 2025 / www.canadianminingreport.com

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok