DiamondBuzz
Diamond sanctions “not feasible”: Russia deputy finance minister
The EU’s “softening of sanctions” was inevitable, according to Russia’s deputy finance minister Alexey Moiseev.He was speaking after the announcement last week that “grandfathered” goods – diamonds imported from Russia before the 1 January imposition of sanctions – would be allowed, and that the implementation of a traceability scheme had been postponed by six months to 1 March 2025.
“This is the next confirmation that what the Western countries propose is not feasible at this stage,” Moiseev said”As I said at the St. Petersburg [International Economic] Forum, this is the manifestation of a kind of a neocolonial policy of these countries, which infringes upon not merely Russia but also all the Western market players. I believe therefore this [softening of sanctions] was inevitable.”
Elsewhere in the Russian media, ABNews reports claims that EU countries have suffered a 25 per cent drop in diamond revenue so far this year, down from $3.59 bn to $2.69bn.
DiamondBuzz
Dholakia Lab Grown Diamond Secures Over Rs 800 Crore Funding
Funding Earmarked For High-Impact Vertical Scaling and Infrastructural Fortification
Dholakia Lab Grown Diamond (DLGD) has successfully executed a definitive investment agreement, securing over Rs 800 crore in a premier growth-stage funding round. This transaction represents one of the most significant capital injections within India’s Lab-Grown Diamond (LGD) ecosystem. The consortium was led by Abakkus PE, with strategic participation from ICICI Ventures IAF5, Amal Parikh, and a syndicate of high-profile institutional investors.
The newly mobilized liquidity is earmarked for high-impact vertical scaling and infrastructural fortification, specifically:
- Production Augmentation: Substantial investment in high-throughput growing technology to meet burgeoning global demand.
- Liquidity Management: Strengthening the working capital framework to support expansive operational cycles.
- Retail Proliferation: Accelerating the strategic rollout of a comprehensive pan-India retail footprint to capture domestic market share.
In a pivot toward high-margin industrial applications, DLGD is leveraging its proprietary synthesis capabilities to produce high-precision single-crystal diamonds. This initiative positions the firm as a critical component supplier for cutting-edge sectors, including:
- Quantum Computing & Semiconductors: Utilizing diamond’s superior thermal conductivity and electronic properties.
- Defense & Optics: Engineering specialized materials for high-stress aerospace and optical environments.
- Thermal Management: Providing heat-dissipation solutions for next-generation hardware.
Leveraging the multi-decade heritage of the Hari Krishna Group, DLGD maintains a robust, fully integrated value chain. This end-to-end oversight—encompassing synthesis, precision polishing, jewelry artisanal manufacturing, and international distribution—solidifies its competitive advantage in the sustainable luxury corridor.
As a pioneer in the sector, DLGD’s early-mover advantage—evidenced by its successful penetration of the US retail market as early as 2018—provides a seasoned foundation for its current expansion. By bridging the gap between luxury aesthetics and deep-tech utility, DLGD is poised to redefine the economic landscape of synthetic carbon structures on a global scale.
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VBJ Opens All-New Flagship Showroom At Anna Salai, Chennai
Dholakia Lab Grown Diamond Secures Over Rs 800 Crore Funding
CaratLane Celebrates Gifting With A Thoughtful Twist, With Mother’s Day Campaign Featuring Yami Gautam Dhar
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New Premises4 hours agoVBJ Opens All-New Flagship Showroom At Anna Salai, Chennai
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DiamondBuzz6 hours agoDholakia Lab Grown Diamond Secures Over Rs 800 Crore Funding
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International News4 hours agoCaratLane Celebrates Gifting With A Thoughtful Twist, With Mother’s Day Campaign Featuring Yami Gautam Dhar
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National News6 hours agoGJC Engages With RBI, Ministry of Finance on Gold Monetization Scheme Revamp
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