SURAT, India, January 10, 2011 – The Hari Krishna Group plans to develop a new diamond jewellery manufacturing factory in a jewellery park near Surat, India’s diamonds capital.
Diamond processing factory of the Hari Krishna Group, Surat, India
Pintu Dholakia of Hari Krishna Exports told Jewellery Outlook during a visit to a diamonds factory of the Hari Krishna Group in Surat that the factory in the jewellery park could employ around 1,000 people within a couple of years after it starts operations by mid-2012.
The Hari Krishna Group is seeing strong demand for diamonds and diamond jewellery in India and expects turnover in India and overseas markets to rise by a quarter this year to $350 million, Dholakia said.
“We are one of the biggest landowners in the jewellery park,” Dholakia said, speaking after the conclusion of the Sparkle 2011 trade fair which took place in Surat from January 6-9.
“We want to develop the jewellery park as quickly as possible so that we can start manufacturing Kisna Diamond Jewellery for the domestic market, as well as HK Designs products for the international market.”
The Hari Krishna Group has acquired 50,000 square metres of land in the jewellery park.
The jewellery park, which offers special economic benefits to manufacturers, is part of the strategy of the local authorities to encourage the emergence of Surat as a diamond manufacturing centre and a diamond trading hub.
Currently eight out of 10 of the world’s diamonds are processed in Surat, which is located about five hours’ drive north of Mumbai.
Kisna Diamond Jewellery is planning to sell its products across all of India within two years. Currently it sells jewellery in nine states of India.
The Hari Krishna Group sells diamond jewellery to prominent retailers in the United States, the United Kingdom, Israel, Hong Kong and Japan.