EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
SourcingMar 16, 2022
Diamond Manufacturing: The Long-Term India Story Remains Intact
Investment in infrastructure, technology and talent help India consolidate its leadership in the global diamond industry.
SRK Exports embarked on its path to sustainability way back in 2011. Both of its factories are certified green buildings.
The Indian diamond industry’s transformation from a low-cost producer of star melee diamonds to an innovative, hi-tech global leader in 25 years has been phenomenal. Use of automated polishers, imaging machines, 3D digital printers, AI and cloud-based big data analytical tools have increased transparency, efficiency and productivity.
“Our investment in technology paid off during the pandemic. Buyers could access our online inventory and place orders. We in turn could buy rough from the miners by looking at their 3D scans”, says Rahul Jauhari, Sr. VP Global Sales & Marketing, Star Rays and core committee member of young Diamantaires.
“Understanding buyers’ needs helped us launch our own ISO certified diamond grading system. Our 360-degree HD video patented feature, Digiplot helps buyers determine a diamond’s depth and map out inclusions. The footprints that trace their diamonds’ journey from mine to market are also made available on an excel sheet,” says Shreyans Dholakia, Brand Custodian at SRK Exports.
The Indian diamond industry scores high on the Employee Experience Index as compared to the fast fashion industry. Unlike the dilapidated sweat shops of Thailand and Bangladesh with utter disregard to human lives, the diamond factories in Surat are built to last. In the closely knit diamond industry, good business practices are emulated and become accepted norms.
“Providing free wholesome healthy food during lunch to our 5,000 employees has resulted in increased morale and productivity. Technology is an enabler that has provided a level playing field. Motivated and committed workforce is our strength in this competitive industry,” he adds.
“Providing free wholesome healthy food during lunch to our 5,000 employees has resulted in increased morale and productivity. Technology is an enabler that has provided a level playing field. Motivated and committed workforce is our strength in this competitive industry,” he adds.
More and more manufacturing companies are becoming environmentally conscious, responsible corporate citizens. Kinjal Shah, Regional Director (India & Middle East), Responsible Jewelry Council (RJC) shares that the RJC membership in India has increased by 20% during the last two years. Out of its 160 members, 60% are diamond manufacturers and 30% are jewelers.
SRK Empire was inaugurated in 2011 (long before sustainability became a buzzword), achieved the LEED Gold rating in 2015, and then got enhanced to Platinum Certification status from US Green Building Council (USGBC) in 2018 – making it the “first manufacturing facility in India and the Asia region,” and also the first in the gem and jewelry sector across the world to be awarded the Platinum rating by USGBC.
SRK’s second 225,000 sq. ft. diamond crafting facility SRK House was also awarded the LEED Platinum certification by USGBC in 2020.
As a part of its beneficiation initiative Star Rays have set up a factory in Botswana employing women in key roles.
Star Rays is working towards becoming India’s first carbon-neutral diamond company, highlighting its commitment to sustainable business practices. The company is participating in the World Jewellery Confederation’s (CIBJO) Greenhouse Gas (GHG) Measuring and Offsetting Initiative to ensure that its carbon emissions and removals are measured in accordance with international standards.
The company is spreading its wings and has set up a state-of-the-art factory in Gaborone, Botswana, hiring female employees at all possible levels to promote women empowerment.
Diamonds in fancy shapes contribute to 50% of SRK Exports’ production.
The top two trends prevailing in the diamond industry are:
1. Manufacturing of small diamonds (star melee) is being consolidated into the hands of a few large players due to the disruption caused by undisclosed mixing of LGDs by unethical traders. It has now become imperative for manufacturers to install synthetic detecting machines and get their goods certified. This has imposed additional costs and increased their woes as every diamond needs to be checked. The production of star melees therefore is no longer lucrative. Shreyans feels that the I1 I2 segment that is huge in the US in all probability will be replaced by the LGDs. Rather than buying diamonds of inferior clarity and color, customers would prefer to buy cleaner goods.
1. Manufacturing of small diamonds (star melee) is being consolidated into the hands of a few large players due to the disruption caused by undisclosed mixing of LGDs by unethical traders. It has now become imperative for manufacturers to install synthetic detecting machines and get their goods certified. This has imposed additional costs and increased their woes as every diamond needs to be checked. The production of star melees therefore is no longer lucrative. Shreyans feels that the I1 I2 segment that is huge in the US in all probability will be replaced by the LGDs. Rather than buying diamonds of inferior clarity and color, customers would prefer to buy cleaner goods.
Rahul however, is of the opinion that smaller, natural diamonds would retain their appeal to first-time buyers due to emotional reasons. The demand for diamond studded luxury watches is also on the rise. The fact that prices of small diamonds have witnessed the highest rise indicates their growing demand.
There is also a growing demand for diamonds with fancy shapes. Rahul says that the pear and oval shapes are moving fast. Shreyans opines that the first-time buyers prefer a round diamond. However, for their subsequent purchases, they are inclined towards fancy shapes due to the novelty factor. The fact that they can buy a larger diamond at the same price adds to its allure.
2. With demand at an all-time high, diamond manufacturers are on a roll. Whatever is being produced today is being sold. There is a shortage of polished diamonds and the prices of rough are up by 20%.
With economies and travel opening up, consumers now have new avenues to spend money, this may reduce diamonds’ wallet share. Consumer backlash against Russia may also prove a dampener as Alrosa’s contribution in the diamond pipeline is 30%.
Manufacturers therefore are cautiously optimistic and hope the geopolitical tensions ease soon as war is not in anyone’s interest.
Note: This story was completed for publication in the special India Diamond Report newsletter prior to Russia’s invasion of Ukraine and the U.S.’s subsequent ban on Russian diamonds on March 11.
Note: This story was completed for publication in the special India Diamond Report newsletter prior to Russia’s invasion of Ukraine and the U.S.’s subsequent ban on Russian diamonds on March 11.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
