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India's six diamond kings who rule global empire
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.
Source: Economic Times
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India's six diamond kings who rule global empire
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
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India's six diamond kings who rule global empire
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
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India's six diamond kings who rule global empire
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
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India's six diamond kings who rule global empire
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
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India's six diamond kings who rule global empire
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
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India's six diamond kings who rule global empire
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