A woman looks at the Diamond Diadem Crown
Diamonds are one of the world’s, and specifically Africa’s, major natural resources. An estimated $13 billion worth of rough diamonds are produced per year, of which about $8.5 billion are from Africa (65 per cent).
The diamond industry employs 10 million people around the world, both directly and indirectly, across a wide spectrum of roles from mining to retail.
Global diamond jewellery sales continue to grow, increasing three-fold in the past 25 years, and are currently worth in excess of $72 billion every year.
Let’s take a look at six diamond kings of India who have captured the hearts and wallets of customers around the world.
A woman looks at the Diamond Diadem Crown (1820), which belongs to Britian’s Queen Elizabeth II, at the Queen’s Gallery at Buckingham Palace in London.
Diamonds on the trading floor of Israel's exchange in Ramat Gan near Tel Aviv. Nirav Modi, inset.
Nirav Modi
Firestar Diamonds
Turnover: Rs 5,000 crore (Rs 50 billion)
Key business facts: Sole jewellery supplier to all armed forces bases in the United States
Unique selling proposition: Sourcing rare diamonds, for instance, the famous Golconda
Arch Duke Joseph diamond sits on display at Christie's auction house in New York. Mavji Bhai Patel, inset.
Mavji Bhai Patel
Kiran Gems Private Limited
Turnover: Rs 7,700 crore (Rs 77 billion)
Key business facts: World’s largest manufacturer of small white diamonds
Unique selling proposition: Diamonds of all sizes, from 1/100th of a carat to 10 carats
Octagonal Star of America, a 100.57-carats, flawless D colour necklace
Mehul Choksi
Chairman and MD, Gitanjali Group
Turnover: Rs 13,000 crore (Rs 130 billion)
Key business facts: Four thousand sales points
Unique selling proposition: Mass market branded diamond jewellery
Octagonal Star of America, a 100.57-carats, flawless D colour necklace, is displayed in Hong Kong. Mehul Choksi, inset.
Martian Pink', a 12.04-carat Fancy Intense pink (Type IIa) diamond
Dharmesh Shah
Joint MD & CFO, Asian Star Company
Turnover: Rs 1,835 crore (Rs 18.35 billion)
Key business facts: Expanding business in emerging markets
Unique selling proposition: Fine craftsmanship
An employee of Sotheby's auctioneers displays
Ashok Gajera
Managing Director, Laxmi Diamond
Turnover: Rs 2,000 crore (Rs 20 billion)
Key business facts: Cygnus brand, major supplier of polished diamonds to the US and Europe
Unique selling proposition: Strong focus on customer care
A vendor inspects 0.20 carat diamonds during the Antwerp Diamond Trade Fair in Belgium. Russell Mehta, inset.
Russell Mehta
Rosy Blue (India)
Turnover: Rs 4,000 crore (Rs 40 billion)
Key business facts: Sustainability integrated into heart of business model
Unique selling proposition: Grand veterans of the industry
