Plus, parent company Saks Global announces plans to cut ties with up to 600 vendors.
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.

“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.

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.
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.
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