How to start career in Indian Diamond market?

Diamond market in India is full of opportunities. Diamond industry is growing in to multi-billion dollar industry and India is becoming stronger in its presence with every single day. Some of the common way people enter and start career in market are below:

Basic knowledge of diamond

One can join Diamond Assorting classes located in Mumbai at places like Charni Road, Vile Parle, Malad, Borivali, Ghatkopar and many other places. These classes give you basic knowledge and prepare you for the first job in Diamond market. Shreeji Rajendra Diamond Classes is one of the well know classes at Charni Road. I personally took help from them when I started working in market 6 years back.

Begin with Jewelry firm

Working in jewelry firm could be good way to gain high level knowledge about Diamond details & specification. Jewelry industry has more opportunities for beginners compared to Diamond market. It allows to you to get close to diamonds and upgrade your knowledge and build your social & professional network.

Start with Diamond Polishing

Start working in Diamond Polishing firm in Surat. This is best way to gain knowledge in Diamond Polishing industry. Surat is full of opportunities and is good place to begin and grow career.

Family or Friends

Diamond market is fortunately or unfortunately biased towards family members and friends. If you know a family member or friend who already is part of industry, he or she can refer you for a good opportunity. Personal referral gives lot of help in Indian Diamond market.

Different types of job roles in Indian diamond market.

Indian Diamond industry is full of enterprising and dynamic people. Job roles are created and eliminated depending upon market condition. Some of the popular and common jobs done by major junta are following:

Diamond assortment

This job involves sorting diamonds as per price and grading from a mix lot of raw diamonds. Also includes sorting diamonds as per colors, cut, purity and carat.

Diamond cutting

This job involves cutting diamond in best way to get a most valuable output from a raw diamond. An experienced diamond cutter can cut a raw diamond in most optimal shape & size.

Diamond polishing

Diamond polishing involves lot of experience and skill. A rough diamond is polished in mainly 4 stages. Mathaloo(Table), Taliyu(Pavilion), Girdle, polish all facets of crown. This action gives proper shape to a diamond which is known and seen by customers/end-user.  For eg: a diamond after polishing gets one table, 32 crown facets, 24 pavilion facets & one teak.

Diamond grading

Diamond grading job involves grading a solitaire diamond and write down all important specifications like color, inclusion of diamond, cut, parameters and other items.

Engraving of Diamond

Msny customers want to write a word or two on diamond to give a personal touch. Skilled person can use correct tools and lot of hardwork to engrave required words on diamond table or girdle.

Pricing of Diamond

It takes lot of experience for a person to estimate appropriate price of diamond lot. There are people who are expert at looking at rough or polish diamond lot and estimate value.

Diamond bagging & gauging

Bagging involves counting of diamonds and packing them in to a single bag for further manufacturing of jewelry. Gauging involves using tools to measure length & width of diamond – helps in pricing and calculations.

Diamond buying & selling

Experienced person who is skilled in estimating value of diamond looks for a good deal. Buying a diamond at good price and later selling it at higher price involves lot of risk taking and networking.

Marketing

Marketing team works hard to find buyers and looks for opportunities to increase profit margin for the organization.

Different types of business in Indian Diamond Market

• Polish diamond Trading

In diamond trading trader buy the diamond form manufacture and then sell in market or to customers.

• Dalali (Broker)

Dalal is the middle man who fulfills the demand of the costumer or the manufacture who is looking for loose diamonds for his inventory/stock.

• Aaddat[pronounced as AA-dut]

Aadat acts like middle man, finds potential customer who is looking to buy diamonds – Aadat fulfills the demand by taking buyer to manufacturer.  Manufacturer pays 2% commission for business he gets.

• Rough to polish

Diamonds are rough in its early life cycle. Transforming diamonds from rough to Polished version is a big business line in Indian diamond market. Economic and skilled work force enables India to be top player in this aspect of global Diamond industry.

• Diamond investment

Investment in diamond is like shares. If person predict diamond prices are going higher and higher then he can buy it for some time and can sell after when prices are higher. But its same like share market if his prediction goes wrong then he has to face the loss too.

• Diamond Jewelry

Diamond studded jewelry is big business in this we can manufacture the diamond studded jewelry and sell it to whole seller or directly to end consumer.

• Diamond cutting tools

Diamond tool manufacturing is also big business – such companies provide tools required in diamond market. E.g. Diamond cutting blade, cleaning diamonds, jewelry manufacturing tools etc.

• Rough diamond trading

Rough diamond trading is same as trading polished diamond. In this trader should have the knowledge of rough. Knowing what price to buy and sell enables to make profit. Risk involved are low compared to dealing in polished products.

• Diamond powder used in many thing

While cutting or polishing diamond the powder or the small pieces of diamond are used in many fields. It is used in medicine, diamond cutting blade, stone cutting blade, airport runways and many more.

• Diamond re-cutting (Broken and upgrading of stones)

In this type of business, person re-cuts diamond to upgrade it and sell it for more profit.

Some histroy of diamond cutting industry in Gujarat.

Since 100s of years – Surat (Gujarat) is in to diamond cutting & diamond polishing business. Some of the other cities in Gujarat where Diamond cutting industry has grow are – Bhavnagar, Navasari, Ahmedabad.

Due to large population of low cost & hard working work force, surat has rapidly turned in to one of the biggest diamond cutting hub in the whole world. Surat is know as “Diamond city of India“.

Bhavnagar is known for manufaturing the smallest stones, with final polished sizes of between 0.005 cents to 0.020 cents.

Surat – biggest diamond hub in the world!

Since many years Indian diamond market has become one of the leading player in global diamond industry.

Diamond - rough to polish

Surat is largest diamond manufacturing hub in world. INDIA is Excellent in manufacturing small diamond’s in world. South Africa is precisely the country that majority people would associate with the diamond industry. But business centers in the other parts of the world are catching up fast and steady. Surat is one of them — this little known Indian industrial hub is fast emerging as a big player in the world diamond.

Surat has left its mark of excellence in all the three departments of the business— manufacturing, importing and the export of processed diamonds.

So how big is it actually?

Let’s try to find the answer from the following statistics.

• The city contributes to more than 80% of the Indian annual export amounting to Rs 70,000 crore.

• Every 9 out of 10 diamonds you get to see in the stores in the big cities all over the world is cut and polished in India and 75 % of all these diamonds owe their shine to the Surat Diamond industry.

• Over 1.5 million people are engaged in the diamond & diamond jewelry industry of Surat.

|| Om Ganeshaya namah ||

Ganesh is the Ever-Blissful who is lovingly worshiped by millions of people worldwide. Although Ganesh is known through the Hindu religion, Shri Ganesh transcends religion and is loved by many non-Hindu’s. We dedicated our first blog entry to Lord and pray for prospects for all our readers.