A Brief insight in The Economy of Surat
Surat is at the heart of India’s thriving diamond-polishing industry, which in 2005 cut 92% of the world’s diamond pieces and earned India $8 billion in exports. Gujarati diamond cutters emigrating from East Africa established the industry in 1901 and by the 70s Surat-based diamond cutters began exporting stones to the US for the first time. Though a majority of polishing work takes place on small weight stones, Surat’s workshops has set their eyes on the lucrative market for finishing larger, pricier stones in the future. It is a major production centre for synthetic textiles in India.
Surat is now India’s second cleanest city. Surat was ranked the No.1 city in India to earn, invest and live. Surat is famous for tasty and delicious foods, especially surti khamam, locho, surti undhayu etc.
Surat has the highest No. of flyovers in Gujarat. Surat has a very good shopping area. It includes all major brands. Mark Pi’s Crazy Noodles, Pizza Hut, McDonald’s, Subway are some of the major restaurant chains offering fast food to the locals.
Surat is also famous for its saree. 1 out of every 5 sarees manufactured in India is from Surat. During festive season and during marriage season people throng to Surat to buy saris as they get more varieties at cheaper rates too.
Surat is also an industrial hub for the production of synthetic fibers and man-made fabrics, contributing almost 28% of India’s total synthetic fiber output and 40% of the nation’s total man-made fabric production and computerized embroidery work. In addition it is home to several major processing facilities/manufacturing centers for Reliance Petrochemicals, Essar Steel, Larsen & Toubro, KRIBHCO, ONGC, Shell, ABG Shipyard, Torrent Power, Rama Newsprints.