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Demonetisation: Surat, the world's diamond polishing hub, faces a big cut

In the third of a six-part series, business standard travels through diamond and textile units in Surat to assess the impact of demonetisation

Vinay Umarji  |  Surat 

It was the evening of November 8 and Surat-based diamantaire Arjanbhai Ambaliya’s family was just back in their Gandhinagar hotel after a day of touristy travel through the city. They were already discussing the next vacation in Udaipur. But the following day, they were heading back to Surat, rather  depressed.  Demonetisation had struck. That is not the only change in plan in his family. Ambaliya, 46, is now having second thoughts about  going ahead with his son’s wedding that was planned for February 1, 2017. “We might have to postpone ...

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First Published: Wed, November 30 2016. 09:50 IST