The Mumbai Jewellers Association in Zaveri Bazaar is willing to pay security tax if that guarantees them protection against terrorist attacks.
Association Vice-President Kumar Jain said, "We do not mind paying security tax. If the situation continues to be like this and we keep losing men in such unfortunate incidents, it won't be long before we all move back to our home towns."
The shops were closed on Friday to express solidarity with the blast victims.
"After the bomb blasts only seven or eight have been reporting for work," said Jain.
Diamond-market expert Hardik Hundia has a different take on the matter.
"It is not the police but the higher-ups of the diamond market who should be blamed for lack of security. We had private security, funded by diamond businessmen. However, some of them decided to opt out."