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{{Short description|Indian diamond manufacturer }} |
{{Short description|Indian diamond manufacturer }} |
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{{Use dmy dates|date=November 2024}} |
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'''Kiran Gems''' (established in 1985) is an |
'''Kiran Gems''' (established in 1985) is an Indian manufacturer of natural polished diamonds.<ref>{{Cite web |title=Kiran Gems Wins Top GJEPC Export Award |url=http://www.idexonline.com/FullArticle?Id=37319 |access-date=25 October 2024 |website=www.idexonline.com}}</ref><ref name="economictimes.indiatimes.com/?back=1">{{cite web |title=India's six diamond kings: Six entrepreneurs minting money in Rs 70,000 crore industry |url=https://economictimes.indiatimes.com/biz-entrepreneurship/indias-six-diamond-kings-six-entrepreneurs-minting-money-in-rs-70000-crore-industry/mavji-bhai-patel-kiran-gems-pvt-ltd/slideshow/18346609.cms |access-date=25 October 2024 |website=economictimes}}</ref><ref>{{Cite web |last=DeshGujarat |date=25 October 2023 |title=Employees to relocate to Surat as Kiran Gems shift base from Mumbai |url=https://deshgujarat.com/2023/10/25/employees-to-relocate-to-surat-as-kiran-gems-shift-base-from-mumbai/#google_vignette |access-date=25 October 2024 |website=DeshGujarat |language=en-US}}</ref> |
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== History == |
== History == |
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| ⚫ | Kiran Gems was founded in 1985 by Vallabhbhai S. Patel, who began as a [[diamond cutter]] in [[Gujarat]] before relocating to [[Mumbai]] to establish the company with his brothers, Babubhai S. Lakhani and Mavjibhai S. Patel.<ref>{{Cite web |last=Team |first=DNA Web |title=Meet farmer’s son who built Rs 17000 crore business, India's largest diamond manufacturer |url=https://www.dnaindia.com/business/report-meet-farmer-son-built-rs-17000-crore-business-india-largest-manufacturer-diamonds-vallabhbhai-patel-kiran-gems-3070987 |access-date=25 October 2024 |website=DNA India |language=en}}</ref> Initially a small manufacturing firm in [[Surat]], Kiran saw gradual growth and gained recognition from the [[Indian government]] as an Export House in 1996 and a Trading House in 1999. To support its expanding export business, Kiran set up a marketing arm, Kiran Exports BVBA, in [[Antwerp]], Belgium, and partnered with Millenium Diamonds Co. Ltd. in Thailand.<ref>{{Cite web |last=India |first=Retail Jeweller |date=19 October 2021 |title=Kiran Gems visit Surat Diamond Bourse site - The Retail Jeweller India |url=https://retailjewellerindia.com/kiran-gems-is-set-to-mark-its-beginning-in-diamond-city-of-india-before-diwali-2022/ |access-date=25 October 2024 |language=en-US}}</ref><ref>{{Cite news |last=Babar |first=Kailash |date=5 June 2024 |title=Kiran Gems’ Rajesh Lakhani buys sea-view luxury apartment in Worli for Rs 97 cr |url=https://economictimes.indiatimes.com/industry/services/property-/-cstruction/kiran-gems-rajesh-lakhani-buys-sea-view-luxury-apartment-in-worli-for-rs-97-cr/articleshow/110739276.cms?from=mdr |access-date=25 October 2024 |work=The Economic Times |issn=0013-0389}}</ref> |
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| ⚫ | Kiran Gems was founded in 1985 by Vallabhbhai S. Patel, who |
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== Controversies == |
== Controversies == |
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In 2018, Kiran Gems faced controversy when over 300 diamond polishers claimed they were laid off without notice or severance. The workers, mostly from [[Saurashtra (region)|Saurashtra]], filed complaints with local authorities and sought support from the Surat Diamond Association. Kiran Gems' management stated that the polishers were employed through contractors and denied involvement in the layoffs. The issue was complicated by reports of a recruitment scandal, where managers allegedly took bribes from polishers for job placements, potentially leading to the dismissals.<ref>{{Cite web |date= |
In 2018, Kiran Gems faced controversy when over 300 diamond polishers claimed they were laid off without notice or severance. The workers, mostly from [[Saurashtra (region)|Saurashtra]], filed complaints with local authorities and sought support from the Surat Diamond Association. Kiran Gems' management stated that the polishers were employed through contractors and denied involvement in the layoffs. The issue was complicated by reports of a recruitment scandal, where managers allegedly took bribes from polishers for job placements, potentially leading to the dismissals.<ref>{{Cite web |date=16 October 2018 |title=‘Sacked without notice’, 300 diamond polishers seek action against Surat firm |url=https://indianexpress.com/article/cities/ahmedabad/sacked-without-notice-300-diamond-polishers-seek-action-against-surat-firm-5403725/ |access-date=25 October 2024 |website=The Indian Express |language=en}}</ref> |
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| ⚫ | In 2023, an investigation by the [[The Kyiv Independent|Kyiv Independent]]<ref>{{Cite web |date=11 October 2023 |title=That diamond ring? It may have helped pay for Russia’s war |url=https://kyivindependent.com/that-diamond-ring-it-may-have-helped-pay-for-russias-war/ |access-date=25 October 2024 |website=The Kyiv Independent |language=en}}</ref> revealed that [[Alrosa]], Russia’s largest diamond producer, continued selling diamonds to the West through intermediaries like Kiran Gems, [[Cartier (jeweler)|Cartier]], and Shree Ramkrishna Exports, despite sanctions.<ref>{{Cite web |title=Kiran Gems did not respond |url=https://www.business-humanrights.org/en/latest-news/kiran-gems-did-not-respond/ |access-date=25 October 2024 |website=Business & Human Rights Resource Centre |language=en}}</ref> These diamonds were routed via countries such as the [[United Arab Emirates|UAE]], allowing Russian-origin diamonds to enter global markets in "mixed origin" parcels. While efforts by the [[G7]] to curb Russian diamond sales faced resistance, some companies, including [[De Beers]], responded to these allegations, whereas others, like Kiran Gems, did not.<ref>{{Cite web |date=28 September 2022 |title=Sanctioned Russian diamonds are reaching the US consumer, but some are getting there legally – for now |url=https://www.intellinews.com/sanctioned-russian-diamonds-are-reaching-the-us-consumer-but-some-are-getting-there-legally-for-now-257830/ |access-date=25 October 2024 |website=www.intellinews.com |language=en}}</ref> |
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| ⚫ | In 2023, an investigation by the [[The Kyiv Independent|Kyiv Independent]]<ref>{{Cite web |date= |
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| ⚫ | The company has been recognized by the [[Gem and Jewellery Export Promotion Council]] (GJEPC) at the Indian Gems and Jewellery Awards (IGJ) for being the highest exporter of cut and polished diamonds for 12 consecutive years from 2007 to 2019, and again from 2020 to 2023.<ref>{{Cite web |title=Kiran Gems wins esteemed IGJ Awards for the 8th consecutive year |url=https://www.europastar.com/news/1004088717-kiran-gems-wins-esteemed-igj-awards-for-the-8th.html |access-date=25 October 2024 |website=www.europastar.com |language=en}}</ref><ref>{{Cite web |last=service |first=diamond world news |date=20 April 2012 |title=Kiran Gems, Getting Technology to Talk |url=https://www.diamondworld.net/archival/6903 |access-date=25 October 2024 |website=Diamond World |language=en}}</ref> In addition, Kiran Gems has also been honored with awards for the Highest Turnover (2020-2023), the Highest Taxpayer Company (2015-2019 and 2020-2023), and was named the Most Socially Responsible Company for the year 2016-17.<ref name="economictimes.indiatimes.com/?back=1"></ref><ref>{{Cite web |title=Kiran Gems wins 6 prestigious GJEPC’s IGJ Awards |url=https://www.cijintl.com/in-the-press/kiran-gems-wins-6-prestigious-gjepc-s-igj-awards.html |access-date=25 October 2024 |website=www.cijintl.com}}</ref> |
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| ⚫ | The company has been recognized by the [[Gem and |
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== References == |
== References == |
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{{reflist}} |
{{reflist}} |
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Latest revision as of 16:02, 14 November 2024
Kiran Gems (established in 1985) is an Indian manufacturer of natural polished diamonds.[1][2][3]
History
[edit]Kiran Gems was founded in 1985 by Vallabhbhai S. Patel, who began as a diamond cutter in Gujarat before relocating to Mumbai to establish the company with his brothers, Babubhai S. Lakhani and Mavjibhai S. Patel.[4] Initially a small manufacturing firm in Surat, Kiran saw gradual growth and gained recognition from the Indian government as an Export House in 1996 and a Trading House in 1999. To support its expanding export business, Kiran set up a marketing arm, Kiran Exports BVBA, in Antwerp, Belgium, and partnered with Millenium Diamonds Co. Ltd. in Thailand.[5][6]
Controversies
[edit]In 2018, Kiran Gems faced controversy when over 300 diamond polishers claimed they were laid off without notice or severance. The workers, mostly from Saurashtra, filed complaints with local authorities and sought support from the Surat Diamond Association. Kiran Gems' management stated that the polishers were employed through contractors and denied involvement in the layoffs. The issue was complicated by reports of a recruitment scandal, where managers allegedly took bribes from polishers for job placements, potentially leading to the dismissals.[7]
In 2023, an investigation by the Kyiv Independent[8] revealed that Alrosa, Russia’s largest diamond producer, continued selling diamonds to the West through intermediaries like Kiran Gems, Cartier, and Shree Ramkrishna Exports, despite sanctions.[9] These diamonds were routed via countries such as the UAE, allowing Russian-origin diamonds to enter global markets in "mixed origin" parcels. While efforts by the G7 to curb Russian diamond sales faced resistance, some companies, including De Beers, responded to these allegations, whereas others, like Kiran Gems, did not.[10]
Awards and recognition
[edit]The company has been recognized by the Gem and Jewellery Export Promotion Council (GJEPC) at the Indian Gems and Jewellery Awards (IGJ) for being the highest exporter of cut and polished diamonds for 12 consecutive years from 2007 to 2019, and again from 2020 to 2023.[11][12] In addition, Kiran Gems has also been honored with awards for the Highest Turnover (2020-2023), the Highest Taxpayer Company (2015-2019 and 2020-2023), and was named the Most Socially Responsible Company for the year 2016-17.[2][13]
References
[edit]- ^ "Kiran Gems Wins Top GJEPC Export Award". www.idexonline.com. Retrieved 25 October 2024.
- ^ a b "India's six diamond kings: Six entrepreneurs minting money in Rs 70,000 crore industry". economictimes. Retrieved 25 October 2024.
- ^ DeshGujarat (25 October 2023). "Employees to relocate to Surat as Kiran Gems shift base from Mumbai". DeshGujarat. Retrieved 25 October 2024.
- ^ Team, DNA Web. "Meet farmer's son who built Rs 17000 crore business, India's largest diamond manufacturer". DNA India. Retrieved 25 October 2024.
- ^ India, Retail Jeweller (19 October 2021). "Kiran Gems visit Surat Diamond Bourse site - The Retail Jeweller India". Retrieved 25 October 2024.
- ^ Babar, Kailash (5 June 2024). "Kiran Gems' Rajesh Lakhani buys sea-view luxury apartment in Worli for Rs 97 cr". The Economic Times. ISSN 0013-0389. Retrieved 25 October 2024.
- ^ "'Sacked without notice', 300 diamond polishers seek action against Surat firm". The Indian Express. 16 October 2018. Retrieved 25 October 2024.
- ^ "That diamond ring? It may have helped pay for Russia's war". The Kyiv Independent. 11 October 2023. Retrieved 25 October 2024.
- ^ "Kiran Gems did not respond". Business & Human Rights Resource Centre. Retrieved 25 October 2024.
- ^ "Sanctioned Russian diamonds are reaching the US consumer, but some are getting there legally – for now". www.intellinews.com. 28 September 2022. Retrieved 25 October 2024.
- ^ "Kiran Gems wins esteemed IGJ Awards for the 8th consecutive year". www.europastar.com. Retrieved 25 October 2024.
- ^ service, diamond world news (20 April 2012). "Kiran Gems, Getting Technology to Talk". Diamond World. Retrieved 25 October 2024.
- ^ "Kiran Gems wins 6 prestigious GJEPC's IGJ Awards". www.cijintl.com. Retrieved 25 October 2024.