July 6, 2020
HK 28 years of excellence, sharing highlights of the diamond industry

HK 28 years of excellence, sharing highlights of the diamond industry

Posted by Hari Krishna

On the occasion of the 28th anniversary of the inception of Hari Krishna Exports, we rededicate ourselves to providing the maximum customer delight.


As we flashback to last year, the world has witnessed several trying situations, and ever since March 2020, the COVID-19 pandemic has recoiled the world with its intensive impacts. Mostly all the affected countries are forcing people to remain indoors to contain the further transmission, and all the international and domestic flights have been suspended. The world economy has come to standstill as commercial activities except those required for survival were brought to a halt.


There is always a light after the dark tunnel; nationwide lockdowns are being lifted in phased manners in many countries, including India. Few western countries are still ceased, and it may take some time for them to restoring normalcy. The epicenter of the pandemic – China has recovered from the crisis, and nearly all commercial activities have also resumed.


Being a bed of roses, the Diamond Industry has suffered badly in the pandemic, and even found it challenging to meet its fixed expenses. In India, as per the directions of the Ministry of Finance of India, banks came to rescue the industry by announcing additional loans. The process of sanction is still on. The city of Surat, a hub of cutting and polishing diamonds in India, has reopened its factories. The new norms, such as Social Distancing on the production floor, difficulties experienced by artisans in reaching factories due to restrictions on transport still are in force along with fear factor.


These issues have affected the attendance of labor. However, the industry in Surat can increase production to about 30% of the pre-March levels.


On the rough front, the primary diamond miners in the world, such as

  • DeBeers have postponed sights to July.
  • Alrosa has reduced its production levels and diluted its conditions of supply.

Meanwhile, the manufacturers have begun consuming its existing stock, and GJEPC of India has declared an imported holiday for June to ease liquidity.


At the Global front, China has shown an increased demand for polished diamonds and jewellery, and exports to Hong Kong are beginning to reach normal levels. As flights are not in operations and arrivals to India still prohibited, the exports from India to Countries like the USA have not picked up.


However, Online buying is still observed in the USA. However, we hope that from 4th July, which is the Independence Day of USA, normalcy will get restored, and with the lifting of lockdown diamond sales will quickly reach pre-March levels.


There are good tidings due to this crisis in the industry too. As people’s movement for tourism, sightseeing, visits to the restaurants, etc. will be highly restricted in the coming months, Diamonds and Jewellery can take their place as people have to spend the money nevertheless


We have to come up with a plan to fulfill the need created by this opportunity, and if planned and utilized correctly, the industry can not only beat the slow pickup in demand but also see a considerable increase in sales.


Today, we would like to extend our gratitude towards our supporters like you, who have always had steadfast confidence in us, and we stand committed to bringing to you the exemplary services and products that we are known for since 1992.


Stay safe; we look forward to your support in the coming future, like always.

Faith, Integrity, Excellence, and Transparency are the pillars on which the Hari Krishna Group has been built and outshining in terms of quality in the global diamond industry for over two decades.