Asian Star to export diamonds worth Rs 1,350 cr in FY07

14 Feb '06
1 min read

Asian Star, a leading diamond manufacturer and exporter from Mumbai plans exports worth Rs 1,350 crore in the coming year compared to the previous year's value of Rs 1,200 crore.

Tapping domestic jewellery market with production of about 1,50,000 pieces a year, is also on the cards, said Vipul Shah, Director, Asian Star.

The company which has a cutting and polishing facility in Surat plans to establish one more facility there, investing around Rs 25 crore, said Vipul Shah.

Shah informed that growth of diamond industry in international market is at a rate of 10 percent every year, where as growth in diamond jewellery segment is between 25-30 percent.

India contributes 2 percent to the world diamond jewellery industry.

India stands third in diamond jewellery consumption, and has an excellent scope for diamond market, he added.

Shah also said that Asian Star has 50 percent stake in Carbon and has entered into agreements with national level jewellery brands, including brand Tanishq.

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