India: Producing small diamonds consuming solitaires

Time since immemorial people have love for diamonds whether solitaires or small diamonds. This beautiful glittering stone has attracted mankind for centuries and milleniums. Monarchies fall and rise in quest of the diamonds. According to Indian Pauranik legends Lord Krshna possessed Shyamantaka mani that was nothing but a very big sized diamond.

India is producing small diamonds in highest quantity in the world and consuming solitaires. The tradition is going on.

Since ancient times diamond was mined in the Golkunda region-of India. it is only a century or two when people went to Africa to find their fortune in diamonds. Africa is the biggest source for rough diamonds since then, being Russia another rich source. Rough diamonds from Australia are harder and difficult to cut.

Most of the diamond mines world over is controlled by a single company D' Beers. They distribute rough diamonds in a controlled fashion to their site holders.The site holders have to cut and polish themselves a certain percentage of received rough diamonds and then allowed to sale to other manufacturers.

India became the biggest manufacturer of diamonds replacing Belgium, Israel and America. Indian growth in diamond trade is amazing!!! more than 1000 times in 4 decades.

More than 90% diamonds ( by Pieces ) in the world are cut and polished in India nowadays.The major cutting and polishing centers are Mumbai and some cities in Gujrat e.g.  Palanpur, Bhavanagar, Ahmedabad, Deesa, Surat and Navasari. Surprisingly Varanasi has lost its place in Indian diamond manufacturing map. It was one of the biggest center for cutting and polishing rough diamonds until 1960.

The diamonds are cut in different shapes such as rounds, octagons, pears, hearts etc. Various cuts are also used, for example, brilliant cut, rose cut, single cut, flat cut etc.

Price of diamonds vary on four factors namely 4 Cs; Cut, Clarity, Color and Carat weight.

Though India produces more than 90% in quantity, most of them are in smaller sizes. Big diamonds are mostly cut and polished in Antwerp (Belgium), Israel and in New york (USA).

India uprised as a major producer of small diamonds since last 4-5 decades. India has been exporting most of them and earning huge foreign currencies.

Surprisingly, India is getting her place in consumer market too since past few years. Diamonds are consumed in every city in India. People started loving diamonds everywhere.

According to a survey Indian city Kolkata beats Tokyo to get second position in consuming diamonds after New york. Some believe that Kolkata will beat even New york in near future.The most fascinating fact is that Indians love solitaires, the bigger size single pieces. Kolkata people love to own diamonds between 3-10 carats.

Kolkata also manufactures huge amount of Diamond Jewelry for local and overseas consumptions. Bengali artisans of Kolkata are highly skilled in manufacturing Diamond Jewelry. Bengali artisans are so skilled that they are being hired in different parts of India and sometimes to overseas.

Besides Kolkata , Delhi, Chennai, Hyderabad, Bangalore, Nagpur, Jaipur are the major consumer cities. Most of these cities are producers of Diamond Jewelry too.

Jaipur produces flat diamonds and consumes too for making of Kundan Meena Jadau Jewelry.

Growth in diamond and Jewelry trade in Hyderabad is fantastic. Hyderabad consumes huge quantity of diamonds. It also uses flat and rose cut diamonds as raw material for Victorian and Ganga-Jamuna style Jewelry. Hyderabad also produces and consumes Kundan Meena Jadau Jewelry

Now whenever think of Diamond, think of India.

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Jyoti Kothari