A Look at Hari Krishna Exports
The diamond industry in India is a thriving sector, with Surat being the diamond capital of the country. Hari Krishna Exports, a well-known diamond manufacturer and exporter, is a prime example of the industry's success.
The company's sprawling campus in Ichhapore, complete with a helipad, showcases the advanced technology and skilled workforce that are driving the industry forward. Planning, cutting, and polishing rough diamonds are distinct units within the facility, with laser machines and water jets automating many tasks. However, skilled diamond engineers and polish artists remain in high demand.
Savji Dhanji Dholakia, the founder of Hari Krishna Exports and a Padma Shri recipient, is now focusing on philanthropy, while the next generation manages the business. The company exports a majority of its diamonds, mainly to the United States. While lab-grown diamonds pose a challenge, Dholakia believes that natural diamond demand will remain strong as long as people have money.
The company has set ambitious goals for the future, aiming to reach 125 countries within the next year. However, Dholakia acknowledges the challenges posed by the Russia-Ukraine war, which has disrupted the supply of raw diamonds. The company has turned to South Africa for raw materials, but Dholakia emphasizes the need to adapt to changing market conditions.
Despite the challenges, Dholakia remains optimistic about the future of the diamond industry. He believes that the government should not interfere with the industry, as it has not been disturbed by government policies. However, other industry leaders, such as Dinesh Navadia, chairman of the Indian Diamond Institute, have called for government support in areas such as overseas sales and online taxation.
The diamond industry in India is a complex and dynamic sector. While challenges exist, the industry's resilience and commitment to innovation suggest a bright future ahead.