Shree Ramkrishna Export Operations Launched at New Mega Factory

PRESS RELEASE Cutting and polishing operations at Shree Ramkrishna Export’s new state-of-the-art 250,000 sq. ft. diamond manufacturing facility were launched in early April by Varda Shine, CEO, DTC. A large delegation comprising officials of De Beers Group and the Diamond Trading Company, senior management of the SRK group and other leading diamantaires were present on the occasion.

The new factory has been constructed outfitted over the last three years, and has raised the benchmark for standards in diamond cutting and polishing. It is one of the most technologically advanced factories in the world, incorporating the latest diamond planning and cutting equipment, sophisticated IT network solutions designed by HP, and highly advanced security systems, enabling the group to consolidate its varied operations.

Speaking on the occasion, Govind Dholakia, Chairman of Shree Ramkrishna Export said, “Today is a landmark day in the history of SRK. What started as a dream has today become a reality. This facility ranks among the most modern and efficient diamond manufacturing plants in the world and strengthens our ability to produce the finest diamonds for our growing customer base.”

Shree Ramkrishna Export was founded by Govind Dholakia in 1976 and today is one of India’s leading manufacturers of loose diamonds and diamond jewellery, employing over 5,000 people and generating an annual turnover of USD $350 mn. It has a network of offices in all the major diamond markets and an innovative e-Solution design canvas through their website www.srkexport.com.

IDI Surat’s City Centre Opened

DTC CEO Varda Shine formally opened ‘City Centre’, the new premises of the Indian Diamond Institute at Vesu in Surat in the presence of a large DTC delegation and the who’s who of the Indian diamond industry from Surat, Mumbai and other key centres of the trade. The new state-of-the-art building with all modern facilities has been built at an estimated cost of Rs 13 crore and has well-equipped classrooms and labs, as well as a swanky auditorium.

Welcoming the establishment of a modern, world-class diamond and jewellery designing institute in the city, Shine said, "India is is a world leader in diamond and jewellery manufacturing. We all know that nine out of 10 diamonds are cut and polished in India. Diamond and jewellery design centres will play an important role in building and sustaining the skill required for the industry."

Stressing that India is also a key consuming market, Shine added that diamond jewellery retail in the country had grown by 31 per cent in 2010 and the DTC was expecting a further growth of 30 per cent during the current year. "In the last few years, the established gold jewellery retailers in India have moved into diamond jewellery. Now, the diamond jewellery consists of 50 per cent share in the retail outlets in the metros like Mumbai, Bangalore and Delhi," she said.

Speaking on the occasion, IDI chairman Aagam Sanghavi said, "Over the last 33 years, the IDI has trained more than 30,000 students. The City Centre will churn out about 800 students annually, who will cater to the ever increasing need of the diamond and jewellery industry."

He noted that though IDI had been catering to the manpower needs of the jewellery trade and industry for the past three decades, it had a limited capacity due to the lack of space and infrastructure at the old campus. The need for a larger and more modern complex had been felt all the more by the trade in view of the upcoming jewellery park at Ichhapore, which would require a large pool of skilled workforce. Sanghavi hopes that the new City Centre would go a long way in meeting this requirement.

Rajiv Jain, chairman of Gems and Jewellery Export Promotion Council (GJEPC) also addressed the gathering and welcomed the development of the new institute. “By 2015 combined demand from India and China may cross that of the USA, the single largest market for diamond jewellery, and there is an urgent need for artisans and designers who are trained to cater to the different needs of these varied markets.”