India’s diamond manufacturing sector is undergoing a significant transformation, moving away from its traditional focus on volume to concentrate on crafting large, high-value stones. According to Devansh Shah, partner at Venus Jewel, the shift toward producing 2-carat and larger diamonds has revolutionized the industry’s global perception of Indian diamond craftsmanship.
Venus Jewel, based in Surat, was a pioneer in this strategic shift, with Shah’s grandfather recognizing the potential of large stones back in the 1980s. Shah attributes the success of Venus to his grandfather’s foresight and dedication, which paved the way for the company to become a leader in manufacturing high-quality diamonds.
In a recent episode of the Rapaport Diamond Podcast, Shah discusses Venus’s specialization in fancy shapes and its performance in this segment, highlighting the company’s impact on India’s manufacturing trade and domestic jewelry market. The podcast also delves into some of the pressing issues facing the industry and provides insights into the latest developments in the diamond sector.
This evolution in India’s diamond manufacturing sector reflects a broader trend in the industry, with a growing emphasis on quality over quantity. As Shah notes, India is now capable of producing some of the most valuable and important diamonds in the world, challenging the traditional perception of Indian diamonds as solely mass-produced commodities.
To stay informed about the latest trends and developments in the diamond and jewelry industry, listeners are encouraged to tune in to the Rapaport Diamond Podcast and sign up for industry news and analysis.
