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{{Short description|Indian diamond conglomerate}}
{{Multiple issues|
{{Disputed|date=August 2022}}{{advert|date=May 2016}}
{{Undisclosed paid|date=September 2023}}
}}
{{Use dmy dates|date=March 2022}}
{{Use Indian English|date=June 2015}}
{{Infobox company {{Infobox company
|name = Hari Krishna Exports Pvt. Ltd. |name = Hare Krishna Exports Pvt. Ltd.
|logo = ] |logo =
|type = ] |type = ]
|traded_as = |traded_as =
|foundation = {{Start date|1992}} <ref name="HK Profile in Rio Tinto">{{cite web|url=https://www.riotintodiamonds.com/extranet/SDDetail.aspx?id=23|title=Rio Tinto's Select Diamantaire: Hari Krishna Exports Pvt. Ltd.|publisher=Rio Tinto}}</ref> |foundation = {{Start date|1992}}<ref name="HK Profile in Rio Tinto">{{cite web|url=https://www.riotintodiamonds.com/extranet/SDDetail.aspx?id=23|title=Rio Tinto's Select Diamantaire: Hari Krishna Exports Pvt. Ltd.|publisher=Rio Tinto}}</ref>
|caption = |caption =
|founders = ] <ref name="HK Profile in Rio Tinto"/> |founders = Savji Dholakia<ref name="HK Profile in Rio Tinto"/>
|location = ] |location = Bandra Kurla Complex, Mumbai, India
|locations = ] <br> ] <br> ] <br> ] <br> ] <br> ] <br> ] |locations = ] <br/> ]
|area_served = Worldwide |area_served = Worldwide
|key_people = {{plainlist|
|key_people = ]: Mr. Savji Dholakia <br><br> ]: <br> Mr. Himmat Dholakia <br> Mr. Tulsi Dholakia <br> Mr. Ghanshyam Dholakia <br> Mr. Bharat Patel <br> Mr. Naresh Lunagaria <br> Mr. Hasmukh Dholakiya
* Savji Dholakia (])<ref>{{Cite news|last=Damor|first=Kalpesh|url=https://www.business-standard.com/article/companies/newsmaker-savji-dholakia-114102300612_1.html|title=Newsmaker: Savji Dholakia|date=2014-10-23|work=Business Standard India|access-date=2020-02-07|last2=Umarji|first2=Vinay}}</ref><ref>{{Cite web|title=Savji Dholakia to receive Padma Shri award; here's all you need to know about Surat-based diamantaire|url=https://www.freepressjournal.in/india/savji-dholakia-to-receive-padma-shri-award-heres-all-you-need-to-know-about-surat-based-diamantaire|access-date=2022-01-26|website=Free Press Journal|language=en}}</ref><ref name="Dholakia Chairman 2018">{{Cite news|url=https://www.outlookindia.com/website/story/meet-billionaire-diamond-merchant-savji-dholakia-who-gives-600-cars-as-diwali-gifts/319057|title=Meet Billionaire Diamond Merchant Savji Dholakia Who Gives 600 Cars As Diwali Gifts|date=26 October 2018|work=Outlook}}</ref>
* Brijesh Dholakia (])
}}
|industry = Diamond Manufactures and Exporters |industry = Diamond Manufactures and Exporters
|products = Diamonds and Jewellery |products = Diamonds and Jewellery
|revenue = {{increase}} ] 975 million <br> ({{INR}} 6,000 crores) <ref name="HK">{{cite web|url=http://www.ndtv.com/article/india/why-i-gifted-cars-flats-india-s-most-generous-boss-talks-to-ndtv-610611|title=Why I gifted Cars, Flats: India's Most Generous Boss talks to NDTV News|publisher = NDTV News|accessdate=22 October 2014}}</ref> |revenue = {{increase}} ] 2.1 billion <br/> (Rs. 16,000 crores)<ref name="HK">{{cite web|url=http://www.ndtv.com/article/india/why-i-gifted-cars-flats-india-s-most-generous-boss-talks-to-ndtv-610611|title=Why I gifted Cars, Flats: India's Most Generous Boss talks to NDTV News|publisher = NDTV News|accessdate=22 October 2014}}</ref>
| net_income = | net_income =
| assets = | assets =
| equity = | equity =
|num_employees = 6,000 <ref name="Savjibhai's Story">{{cite web|url=http://www.rediff.com/business/report/pix-special-amazing-story-of-a-businessman-who-gifted-cars-flats-to-staff/20141024.htm|title=Amazing Story of a businessman who gifted cars, flats to Staff|publisher=Rediff|accessdate=24 October 2014}}</ref> (As of 2014) |num_employees = 8,000 (as of 2023)<ref name="Savjibhai's Story">{{cite web|url=http://www.rediff.com/business/report/pix-special-amazing-story-of-a-businessman-who-gifted-cars-flats-to-staff/20141024.htm|title=Amazing Story of a businessman who gifted cars, flats to Staff|publisher=Rediff|accessdate=24 October 2014}}</ref>
|owner = Mr. Savji Dholakia and Family |owner = Savji Dholakia and family
|divisions = Raw Diamond Procurement <br> Diamond Polishing <br> Diamond Marketing & Sales |divisions = Raw Diamond Procurement <br/> Diamond Polishing <br/> Diamond Marketing & Sales
|subsid= |subsid=
|homepage= |homepage=
|footnotes= |footnotes=
|intl = Yes
}} }}
'''Hari Krishna Exports Pvt. Ltd.''' a Diamond Manufacturing Company established in 1992, by Founder Mr. ] and the partners Mr. Himmat Dholakia, Mr. Tulsi Dholakia and Mr. Ghanshyam Dholakia, earned global reputation as the most trusted diamond supplier.<ref>{{cite web|title=Hari Krishna Exports Pvt Ltd.|url=https://www.riotintodiamonds.com/extranet/SDDetail.aspx?id=23|publisher=riotintodiamonds.com}}</ref><ref>{{cite web|title=Hari Krishna Exports|url=http://www.rough-polished.com/en/exclusive/80060.html|publisher=rough-polished|accessdate=29 July 2013}}</ref> Distinguished for the highest ethical standards, commitment to excellence, consistent product quality and transparent business practices; it pioneered the concept of fixed & fair pricing.

Hari Krishna Exports ensured direct rough supply from the ] (DTC) <ref name="HK Profile in DTC">{{cite web|url=https://www.debeerssightholder.com/en/Sightholder-directory11/Hari-Krishna/|title=DTC Sightholder - Hari Krishna Exports Pvt. Ltd.|publisher=De Beers Group of Companies}}</ref>, ] <ref name="HK Profile in Rio Tinto"/>, ] (earlier BHP) <ref name="DDC">{{cite web|url=http://www.diamondbyhk.in/our-association.htm|title=Hari Krishna Exports - Our Association}}</ref> and ] <ref name="ALROSA">{{cite web|url=http://sales.alrosa.info/rough-diamonds/long-term-contacts/our-customers/|title=Alrosa Alliance - Our Customers|publisher=Alrosa}}</ref>. It is also the official suppliers of CanadaMark and ].<ref>{{cite web|title=The Trailblazer - Hari Krishna Exports|url=http://www.diamondworld.net/contentView.aspx?item=7749|publisher=diamondworld.net|accessdate=22 July 2014}}</ref><ref>{{cite web|title=Surat diamond industry decides to offer performance bonus to check attrition|url=http://articles.economictimes.indiatimes.com/2010-04-07/news/27614937_1_surat-diamond-association-diamond-industry-skilled-workers|publisher=indiatimes.com|accessdate=22 July 2014}}</ref><ref>{{cite web|title=Hari Krishna Exports to have 12 Galaxy/Solaris systems in-house|url=http://www.jewellerynewsasia.com/en/search/search_result/9514/Hari-Krishna-Exports-to-have-12-Galaxy-Solaris-systems-in-house.html|publisher=jewellerynewsasia.com|accessdate=22 July 2014}}</ref> It is the only diamond manufacturer and ] to achieve the Responsible Jewellery Council (]) Certification in India with more than 6,000 employees; the only recipient of GJEPC’S award for 12 consecutive years from 2003–2014.<ref>{{cite web|title=Hari Krishna Exports Pvt. Ltd.: GJEPC’S award winner for 12 consecutive years from 2003–2014.|url=http://www.diamonds.net/News/NewsItem.aspx?ArticleID=46193&ArticleTitle=GJF+Selects+KISNA+Diamond+Jewellery+for+Annual+Award|publisher=diamonds.net|accessdate=24 Feb 2014}}</ref>


⚫ ==History==
]


'''Hari Krishna Exports Pvt. Ltd.''', also known as '''HK''', is an Indian diamond conglomerate, headquartered in ], ], ], ].<ref name="Rough & Polished">{{cite web|url=http://www.rough-polished.com/en/exclusive/80060.html|title=The Overall Domestic Diamond Market seems to be going North|publisher=Rough & Polished|accessdate=29 July 2013}}</ref> It was established in 1992 by ] and his three brothers.<ref name="HK Profile in Rio Tinto"/> The company has manufacturing units at ] in ] and its marketing and sales office in Mumbai. HK exports polished diamonds to 79 countries.<ref name="HK" /> Currently, the company manufactures over 40,000 carats of diamonds every month (equivalent to 500,000 carats annually).<ref name="HK website">{{cite web |title=Company Profile - Hari Krishna Exports Pvt. Ltd. |url=http://www.hk.co/#}}</ref>
Mr. Savji Dholakia in late 70s trooped into ] to make his fortune in the diamond cutting and Polishing business. The dream of Savji Dholakia to form a diamond cutting and polishing unit materialized when Hari Krishna Exports came into existence in 1992 with the support of his three brothers; the partners of the company. They began their career as a diamond cutter but their determination and devotion coupled with an ambition to achieve something in their life helped in realization of the Savji Dholakia’s dream. All four were quick to learn the tricks of the trade and Hari Krishna Exports started growing by leaps and bounds year after year and today it is one of the foremost diamond companies in the industry. Although the Dholakia brothers were in the business of Diamond cutting and polishing, but their rough diamond purchasing and selling was limited to their hometown ]. Mr. Ghanshyam Dholakia (youngest of the four siblings) moved to ] in 1990 and learned diamond trading. He worked in ], as a employee, for 2 years before starting Hari Krishna Exports Pvt. Ltd.– ]<ref>{{cite web|title=Ghanshyam Dholakia, Founder and MD, Harikrishna Exports|url=http://yourstory.com/2008/10/ghanshyam-dholakia-founder-and-md-harikrishna-exports/|publisher=yourstory.com|accessdate=22 July 2014}}</ref> while Mr. Savji Dholakia Founded Hari Krishna Exports Pvt. Ltd. in the year 1992 with a few machines and employees.


According to a ] report in January 2017, Hari Krishna Exports was reportedly involved in a case concerning alleged evasion charges of approximately ₹16.66 crore by the Employees' Provident Fund Organisation.<ref name="b669">{{cite web | last=Internet | first=The | title=Diamantaire who evaded provident fund of staffers gifts 1,200 cars to them | website=The Times of India | date=21 Jan 2017 | url=https://timesofindia.indiatimes.com/city/surat/diamantaire-who-evaded-pf-of-staffers-gifts-1200-cars-to-them/articleshow/56694124.cms | access-date=6 Nov 2024}}</ref>
Hari Krishna Exports Pvt. Ltd. grew, strength to strength, over the next decade. In 1994 the diamond exports increased multifold after a ] client's referral to the international clients. In 2001, the ambitious export company made yet another leap as it started to trade and manufacture diamonds of sizes ranging from 0.18 Carat to 0.96 Carat. In the fiscal year 2002-03 Hari Krishna Exports Pvt. Ltd. recorded a 200% growth.<ref>{{cite web|title=Hari Krishna Exports Pvt. Ltd. recorded a 200% growth|url=http://yourstory.com/2008/10/ghanshyam-dholakia-founder-and-md-harikrishna-exports/|publisher=yourstory.com|accessdate=22 July 2014}}</ref>
⚫ == History ==
In 1992, HK began its operations as a diamond cutting and polishing unit in ], starting with a modest setup comprising a few machines and employees. It later expanded its operations to ] to meet the increasing demand for raw diamonds.


In 2005, HK introduced its jewelry brand - KISNA. It now stands as one of the most widely distributed diamond jewelry brands in India, with its products available in over 6,250 jewelry outlets. KISNA offers a diverse range of designs encompassing rings, earrings, pendants, necklaces, bangles, bracelets, and nose pins.<ref>{{Cite web|title=Kisna Diamond Jewellery, India's second-largest jewellery brand by H. K. Jewels, marked its 17th anniversary.|url=http://artofjewellery.com/NewsMore.aspx?Id=148217|access-date=2022-02-10|website=artofjewellery.com}}</ref> It utilizes VVS diamonds and 18k hallmarked gold in its creations.<ref name="HK website" /> From 2007 to 2008, HK experienced a growth rate of 49%, achieving a turnover of {{INR}} 1,025 crores ({{USD}} 260 million at that time).<ref>{{Cite web|title=Hari Krishna Exports Pvt Ltd - Manufacturer from Bandra East, Mumbai, India {{!}} About Us|url=https://www.indiamart.com/hari-krishnaexports/aboutus.html|access-date=2022-02-10|website=indiamart.com}}</ref>
Initially the export company started to trade and manufacture round diamonds with a value of less than 0.18 carats. The company recorded a turnover of Rs. 1 crore (10 Million) in its first fiscal year of operations to a US$ 975 million (INR 6,000 crores) in 2013-14 with customer friendly system & services in place. In a span of twenty two years, the company has traveled from being a small entrepreneurial outfit to the position of a Group with interests in domestic and international business arenas. The vertical integration process transformed the company from a mere diamond polisher to one that processes, manufactures and markets polished diamonds and jewellery in the domestic and international markets with affiliates in ], ] and ] and ] participating in achieving the task.


In 1994, diamond exports surged following a referral from an Israeli client to international clients. By 2001, the export company began trading and manufacturing diamonds ranging from 0.18 Carat to 0.96 Carat. In the fiscal year 2002–03, Hari Krishna Exports Pvt. Ltd. recorded a remarkable growth rate of 200%.
==Current Status==
]
Spread over 25 acre plot, this ultra-modern manufacturing set-up at ], ], ] houses a work force of more than 6,000 employees providing a world class working environment and having a manufacturing capacity of more than 5,00,000 carats per annum; is a perfect blend of human and technology. In tandem with keeping the very best, the state-of-the-art, 25,000 Sq. ft. Head Office on 17th level at The Capital, BKC, ] - has truly set a benchmark of substance & elegance in the global Diamond Industry.


The company is engaged in both diamond jewelry manufacturing and export through H.K. Designs and Unity Jewels. H.K. Jewels Pvt. Ltd. serves the domestic market, while Kisna Diamond Jewellery, a pan-India brand, is distributed through more than 480 distributors to over 6500 retail outlets.
With expertise & precision in consistent assortment; Hari Krishna Exports manufactures high quality Round and Fancy diamonds in more than 10 different shapes, ranging from 0.01 to 10 carats plus in IF to I3 clarity and, D to M Color. Every diamond sold is supported with in-house “Faith” grading certificate along with third party certifications from GIA, IGI & HRD upon request.


== Controversy ==
With customer friendly system & services in place and 80% repeat business, witnessed a turnover of more than US$ 975 million (INR 6,000 crores) in 2013-14. A clear indication of customer’s faith in the company and the company’s commitment towards innovation & excellence. The company markets its products worldwide through its alliances in the ], ], ], ], ] and through its always live Online Inventory.
The company received media attention for "gifting" its employees cars, jewellery, and homes as bonuses on ]. In 2014, it gifted 491 cars, 525 pieces of diamond jewellery and 200 apartments worth {{INRConvert|50|c}}.<ref>{{cite web|url=http://www.rediff.com/news/report/the-desi-oprah-who-gifted-200-homes-491-cars-for-diwali/20141020.htm|title=The desi Oprah who gifted 200 homes, 491 cars for Diwali|work=Rediff.com|accessdate=26 October 2014}}</ref><ref>{{cite web|url=http://www.thehindubusinessline.com/news/diwali-gift-flats-cars-jewellery-to-loyal-staffers/article6519875.ece|title=Diwali gift: Flats, cars, jewellery to 'loyal staffers'|work=Business Line|date=20 October 2014 |accessdate=26 October 2014}}</ref><ref name="2018car">{{Cite news|url=https://www.business-standard.com/article/current-affairs/gujarat-diamantaire-gifts-600-cars-fds-as-diwali-bonus-to-employees-118102700615_1.html|title=Gujarat diamantaire gifts 600 cars, FDs as Diwali bonus to employees|agency=Press Trust of India|date=2018-10-27|work=Business Standard India|access-date=2019-05-07}}</ref><ref>{{cite news|url=https://www.bbc.com/news/world-asia-india-29686366|title=India diamond merchant boss distributes cars as gifts|publisher=BBC News|date=20 October 2014|accessdate=26 October 2014}}</ref><ref>{{cite web|url=https://www.theguardian.com/cities/2014/oct/21/-sp-surat-diamond-merchant-india-generous-boss-diwali-hari-krishna|title=Meet the Indian boss who gave cars, apartments and diamonds to employees|date=21 October 2014|work=The Guardian|accessdate=26 October 2014}}</ref><ref>{{Cite web|title = Diwali bonanza: Surat boss gifts cars, flats and jewellery as bonus to his employees|url = http://timesofindia.indiatimes.com/city/surat/Diwali-bonanza-Surat-boss-gifts-cars-flats-and-jewellery-as-bonus-to-his-employees/articleshow/44884418.cms|website = The Times of India|accessdate = 2015-05-21|last = Melvyn Thomas|date = 2014-10-21}}</ref> In 2016, the company gifted 1260 cars and 400 apartments.<ref name="2016 Gift">{{Cite news|url=http://www.financialexpress.com/india-news/surat-businessman-gifts-1260-cars-400-flats-to-employees/432263/|title=Surat businessman gifts 1,260 cars, 400 flats to employees!|date=2016-10-27|newspaper=The Financial Express|access-date=2016-10-28}}</ref> The company gifted 600 cars in 2018.<ref name="2018car" /> The claims were disputed by the ''Mera News'' portal, which reported that the employees are paid a salary on the ] basis, and the down payment of the 'gifts' are sourced from the amount deducted from the salary under the bonus title. The cars are brought under the company's name, and the employees have to sign a job bond of 5 years. The company benefits from the bulk discount and tax credit on the cars.<ref>{{Cite web|url=http://www.meranews.in/news/view/savji-dholakia-surat-exposed-diamond-merchant-diwali-bonus-cars-gift|title=Savji Dholakia didn't really gift 600 cars to his employees, there was a catch that everyone missed|last=Dayal|first=Prashant|website=MeraNews|language=en-US|url-status=|access-date=2019-05-07}}</ref><ref>{{Cite web|url=http://www.meranews.com/news/view/open-letter-to-savji-dholakia-savjibhai-you-are-standing-be|title=સવજીભાઇ ધોળકિયાને ખુલ્લો પત્ર: '1 કરોડની ઓફર કરનાર સવજીભાઈ તમે સત્ય અને અસત્યની વચ્ચે ઉભા છો'|last=Dayal|first=Prashant|website=MeraNews|language=gu|url-status=|access-date=2019-05-07}}</ref>


In December 2016, the company was issued notice by the Employee Provident Fund Organisation's (EPFO) Surat regional branch for violating the Employees Provident Funds and Miscellaneous Provisions Act,  1952, and Factory Act after two years of investigation. The company had registered only 17 employees under Employee Provident Fund (EPF) despite employing 3165 people then. It had not paid EPF to employees for several years. The EPFO ordered the company to deposit {{INRConvert|16.6|c}} with 12% annual interest and 25% annual damage penalty.<ref>{{Cite web|url=https://timesofindia.indiatimes.com/city/surat/diamond-baron-who-gifted-cars-to-staff-evaded-paying-epf/articleshow/56044388.cms|title=Surat diamond baron: Diamond baron who gifted cars to staff evaded paying EPF|date=2016-12-18|website=The Times of India|language=en|url-status=|access-date=2019-05-07}}</ref><ref>{{Cite web|url=https://www.ibtimes.co.in/surat-diamond-merchant-slapped-notice-epfo-evasion-payment-708910|title=Surat diamond merchant slapped with notice from EPFO for evasion of payment|last=Sarkar|first=Asmita|date=2016-12-18|website=International Business Times, India Edition|language=english|access-date=2019-05-07}}</ref><ref>{{Cite web|url=https://timesofindia.indiatimes.com/city/surat/diamantaire-who-evaded-pf-of-staffers-gifts-1200-cars-to-them/articleshow/56694124.cms|title=Employees' Provident Fund Organisation: Diamantaire who evaded provident fund of staffers gifts 1,200 cars to them|last=Thomas|first=Melvyn|date=2017-01-21|website=The Times of India|url-status=|access-date=2019-05-07}}</ref><ref>{{Cite web|url=https://timesofindia.indiatimes.com/city/surat/diamond-firm-may-face-action-under-epf-act/articleshow/56528668.cms|title=Diamond firm may face action under EPF Act|last=Thomas|first=Melvyn|date=2017-01-14|website=The Times of India|url-status=|access-date=2019-05-07}}</ref>
Apart from following DTC’s Best Practice Principles (BPP), the company is also engaged in various ] (CSR)


== Recognition ==
The company is also actively involved in developing its domestic brand of diamond ] named ] which was launched in July 2005 and is currently the largest distributed diamond jewellery brand in the domestic Indian market with availability in more than 6,500 retail outlets.<ref>{{cite web|title=Hari Krishna Exports Marks Anniversary With New Social Responsibility Program|url=http://www.diamonds.net/Magazine/Article.aspx?ArticleID=47292&RDRIssueID=126|publisher=diamonds.net|accessdate=22 July 2014}}</ref>


⚫ *The ] (GJEPC)'s Annual Exports Award for the Year 2002–03 to 2011-12 (for ten consecutive years).<ref>{{cite web|title=Kiran Gems Wins Top GJEPC Export Award|url=http://www.idexonline.com/FullArticle?Id=37319|website=idexonline.com/|publisher=IDEX - International Diamond Exchange|accessdate=28 January 2017}}</ref><ref>{{cite web|title=Hari Krishna Exports Receives GJEPC Award 2011-12|url=http://www.rapnet.com/news/NewsItem.aspx?tag=Hari%20Krishna%20Group&ArticleID=41300&ArticleTitle=Hari+Krishna+Exports+Wins+Tenth+Award+from+GJEPC|publisher=rapnet.com|accessdate=11 October 2012}}</ref>
==Corporate Social Responsibilities (CSR) Activities==
*More than 7lac saplings have been planted by the company employees in Gujarat.<ref>{{cite web|title=Trust to plant 10L trees across Gujarat by Diwali 2012|url=http://timesofindia.indiatimes.com/city/surat/Trust-to-plant-10L-trees-across-Gujarat-by-Diwali-2012/articleshow/11011189.cms|publisher=indiatimes.com|accessdate=14 November 2014}}</ref> *The GJEPC's "Most Innovative Company of the Year" Award for the year 2012–13.<ref>{{cite web|title=Hari Krishna Exports Receives GJEPC Award 2012-13|url=http://www.floroscent.com/newsdetails.php?id=269|publisher=floroscent.com|accessdate=11 October 2013}}</ref>
*Kisna Bhagwat Gyan Mahotsav - A spiritual event organized with daily foot falls of over 22,000 devotes.<ref>{{cite web|title=Hari Krishna Exports Concludes Kisna Bhagwat Gyan Mahotsav|url=http://www.rapnet.com/news/NewsItem.aspx?tag=Hari%20Krishna%20Group&ArticleID=45780&ArticleTitle=Hari+Krishna+Group+Concludes+Kisna+Bhagwat+Gyan+Mahotsav|publisher=rapnet.com|accessdate=10 Jan 2014}}</ref> *The Stevie International Business Award for the "Management of the year 2012-13"<ref>{{cite web|title=Hari Krishna Exports Receives Coveted Intl. Business Award by The Stevies|date = 26 August 2013|url=http://www.diamonds.net/News/NewsItem.aspx?ArticleID=44373&ArticleTitle=Hari+Krishna+Exports+Receives+Coveted+Intl.+Business+Award+by+The+Stevies|publisher=diamonds.net|accessdate=26 August 2013}}</ref>
⚫ *The Stevie International Business Award - 2014 "Company of the Year – Manufacturing" and "Fastest-Growing Company of the Year (Asia, Australia and New Zealand)"<ref>{{cite web|title=Hari Krishna Exports honoured with two accolades The Stevies 2014|url=http://www.diamondworld.net/contentview.aspx?item=9493|publisher=diamondworld.net|accessdate=26 August 2014}}</ref><ref>{{cite web|title=Company/Organization Awards Winners|url=http://stevieawards.com/iba/companyorganization-awards-winners|website=stevieawards.com/|date=25 November 2014 |publisher=Stevie Awards, Inc.|accessdate=28 January 2017}}</ref>
*Blood donation camp was organized in Surat where in 1050 bottles of blood were collected. Similarly, Mumbai Head Office celebrated its first anniversary with a social drive, Blood Donation camp was organized where in 670 bottles of blood were collected.<ref>{{cite web|title=Blood Donation Drive by Hari Krishna Exports Pvt. Ltd.|url=http://www.minestomarket.net/csr-initiative-mark-1st-anniversary-hari-krishna-exports-pvt-ltd-capital-bkc/|publisher=minestomarket.net|accessdate=12 Feb 2014}}</ref>
*JNA Award "Outstanding Enterprise of the Year" in the year 2014.<ref>{{cite web|title=Award recipient of: Outstanding Enterprise of the Year – India|url=http://www.jnaawards.com/Results/2014/RecipientHariKrishnaExportsPvtLtd/tabid/6495/Default.aspx|website=jnaawards.com|publisher=UBM Asia Limited|accessdate=28 January 2017}}</ref>
*Hari Krishna Exports felicitated 1205 Employees with "Best Performance of the Year - 2014". Under this ‘Loyalty Programme’, 204 House, 425 ] Cars and 576 SIva (Special Edition) ] by ] were given as incentives.<ref>{{cite web|title=Am A School Dropout, Says Diamond Merchant Everyone's Talking about|url=http://www.ndtv.com/article/cities/am-a-school-dropout-says-diamond-merchant-everyone-s-talking-about-610620|publisher=ndtv.com|accessdate=16 December 2014}}</ref><ref>{{cite web|title=Surat diamond exporter showers flats, cars on staff|url=http://www.business-standard.com/article/companies/surat-diamond-exporter-showers-flats-cars-on-staff-114102100047_1.html|publisher=business-standard.com|accessdate=16 December 2014}}</ref><ref>{{cite web|title=Try Matching This: Car, Flat, Diamond as Diwali Bonus|url=http://www.newindianexpress.com/nation/Try-Matching-This-Car-Flat-Diamond-as-Diwali-Bonus/2014/10/21/article2487864.ece|publisher=newindianexpress.com|accessdate=16 December 2014}}</ref><ref>{{cite web|title=Amazing story of a businessman who gifted cars, flats to staff|url=http://www.rediff.com/business/report/pix-special-amazing-story-of-a-businessman-who-gifted-cars-flats-to-staff/20141024.htm?sc_cid=fbshare|publisher=rediff.com|accessdate=16 December 2014}}</ref>


*Mr. Savji Dholakia, the founder and chairman of Hari Krishna Exports, is awarded the 4th highest civilian award of India, called ‘Padma Shri,’ from the Hon’ble President of India, Ram Nath Kovind in 2022.{{Citation needed|date=September 2023}}
==Awards and recognition==
*The GJEPC's Annual Exports Award for the Year 2002-03 from the ]
*The GJEPC's Annual Exports Award for the year 2003-04 from Hon. Vice President of India ]
*The GJEPC's Annual Exports Award for the year 2004-05 from the Hon. Chief Guest
*The GJEPC's Annual Exports Award for the year 2005-06 from Hon. Minister of Commerce & Industry, ]
*The GJEPC’s Annual Exports Award for the year 2006-07 from Hon. Minister of Commerce & Industry, ]
*The GJEPC’s Annual Exports Award for the year 2007-08 from Hon. Chief Minister of Tamilnadu, Shri ]
*The GJEPC’s Annual Exports Award for the year 2008-09 from Hon. Union Minister of Commerce & Industry, Shri ]
*The GJEPC’s Annual Exports Award for the year 2009-10 from Ms. Varda Shine. MD. (DTC), ], Minister of State of Civil Aviation. & ], Union Minister of State Agriculture.
*The GJEPC’s Annual Export Award for the year 2010-11 form Shri ], ]
⚫ *The GJEPC’s Annual Export Award for the year 2011-12 from Hon. Minister of State for Commerce & Industry ].<ref>{{cite web|title=Hari Krishna Exports Receives GJEPC Award 2011-12|url=http://www.rapnet.com/news/NewsItem.aspx?tag=Hari%20Krishna%20Group&ArticleID=41300&ArticleTitle=Hari+Krishna+Exports+Wins+Tenth+Award+from+GJEPC|publisher=rapnet.com|accessdate=11 Oct 2012}}</ref>
*The GJEPC's “Most Innovative Company of the Year” Award for the year 2012-13 from Shri Siddharth, Joint Ministry of Commerce & Industry.<ref>{{cite web|title=Hari Krishna Exports Receives GJEPC Award 2012-13|url=http://www.floroscent.com/newsdetails.php?id=269|publisher=floroscent.com|accessdate=11 Oct 2013}}</ref>
*The ] for the "Management of the year 2012-13"<ref>{{cite web|title=Hari Krishna Exports Receives Coveted Intl. Business Award by The Stevies|url=http://www.diamonds.net/News/NewsItem.aspx?ArticleID=44373&ArticleTitle=Hari+Krishna+Exports+Receives+Coveted+Intl.+Business+Award+by+The+Stevies|publisher=diamonds.net|accessdate=26 Aug 2013}}</ref>
⚫ *The ] - 2014 “Company of the Year – Manufacturing” and “Fastest-Growing Company of the Year (Asia, Australia and New Zealand)"<ref>{{cite web|title=Hari Krishna Exports honoured with two accolades The Stevies 2014|url=http://www.diamondworld.net/contentview.aspx?item=9493|publisher=diamondworld.net|accessdate=26 Aug 2014}}</ref>
*JNA Award “Outstanding Enterprise of the Year" in the year 2014 <ref>{{cite web|title=Hari Krishna Exports Pvt. Ltd. won the most coveted JNA Award in the category for “Outstanding Enterprise of the Year"|url=http://www.diamonds.net/News/NewsItem.aspx?ArticleID=48107&ArticleTitle=Hari+Krishna+Exports+Receives+JNA+Award|publisher=diamonds.net|accessdate=23 Sep 2014}}</ref>


==References== ==References==
{{reflist|2}} {{Reflist}}


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Latest revision as of 11:06, 6 November 2024

Indian diamond conglomerate
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Hare Krishna Exports Pvt. Ltd.
Company typePrivate
IndustryDiamond Manufactures and Exporters
Founded1992 (1992)
FoundersSavji Dholakia
HeadquartersBandra Kurla Complex, Mumbai, India
Number of locationsMumbai
Surat
Area servedWorldwide
Key people
ProductsDiamonds and Jewellery
RevenueIncrease US$ 2.1 billion
(Rs. 16,000 crores)
OwnerSavji Dholakia and family
Number of employees8,000 (as of 2023)
DivisionsRaw Diamond Procurement
Diamond Polishing
Diamond Marketing & Sales
Websitewww.hk.co

Hari Krishna Exports Pvt. Ltd., also known as HK, is an Indian diamond conglomerate, headquartered in The Capital, Bandra Kurla Complex, Mumbai, India. It was established in 1992 by Savji Dholakia and his three brothers. The company has manufacturing units at Surat in Gujarat and its marketing and sales office in Mumbai. HK exports polished diamonds to 79 countries. Currently, the company manufactures over 40,000 carats of diamonds every month (equivalent to 500,000 carats annually).

According to a Times of India report in January 2017, Hari Krishna Exports was reportedly involved in a case concerning alleged evasion charges of approximately ₹16.66 crore by the Employees' Provident Fund Organisation.

History

In 1992, HK began its operations as a diamond cutting and polishing unit in Surat, starting with a modest setup comprising a few machines and employees. It later expanded its operations to Mumbai to meet the increasing demand for raw diamonds.

In 2005, HK introduced its jewelry brand - KISNA. It now stands as one of the most widely distributed diamond jewelry brands in India, with its products available in over 6,250 jewelry outlets. KISNA offers a diverse range of designs encompassing rings, earrings, pendants, necklaces, bangles, bracelets, and nose pins. It utilizes VVS diamonds and 18k hallmarked gold in its creations. From 2007 to 2008, HK experienced a growth rate of 49%, achieving a turnover of ₹ 1,025 crores (US$ 260 million at that time).

In 1994, diamond exports surged following a referral from an Israeli client to international clients. By 2001, the export company began trading and manufacturing diamonds ranging from 0.18 Carat to 0.96 Carat. In the fiscal year 2002–03, Hari Krishna Exports Pvt. Ltd. recorded a remarkable growth rate of 200%.

The company is engaged in both diamond jewelry manufacturing and export through H.K. Designs and Unity Jewels. H.K. Jewels Pvt. Ltd. serves the domestic market, while Kisna Diamond Jewellery, a pan-India brand, is distributed through more than 480 distributors to over 6500 retail outlets.

Controversy

The company received media attention for "gifting" its employees cars, jewellery, and homes as bonuses on Diwali. In 2014, it gifted 491 cars, 525 pieces of diamond jewellery and 200 apartments worth ₹50 crore (US$5.9 million). In 2016, the company gifted 1260 cars and 400 apartments. The company gifted 600 cars in 2018. The claims were disputed by the Mera News portal, which reported that the employees are paid a salary on the cost to company basis, and the down payment of the 'gifts' are sourced from the amount deducted from the salary under the bonus title. The cars are brought under the company's name, and the employees have to sign a job bond of 5 years. The company benefits from the bulk discount and tax credit on the cars.

In December 2016, the company was issued notice by the Employee Provident Fund Organisation's (EPFO) Surat regional branch for violating the Employees Provident Funds and Miscellaneous Provisions Act,  1952, and Factory Act after two years of investigation. The company had registered only 17 employees under Employee Provident Fund (EPF) despite employing 3165 people then. It had not paid EPF to employees for several years. The EPFO ordered the company to deposit ₹16.6 crore (US$1.9 million) with 12% annual interest and 25% annual damage penalty.

Recognition

  • The Gem and Jewellery Export Promotion Council (GJEPC)'s Annual Exports Award for the Year 2002–03 to 2011-12 (for ten consecutive years).
  • The GJEPC's "Most Innovative Company of the Year" Award for the year 2012–13.
  • The Stevie International Business Award for the "Management of the year 2012-13"
  • The Stevie International Business Award - 2014 "Company of the Year – Manufacturing" and "Fastest-Growing Company of the Year (Asia, Australia and New Zealand)"
  • JNA Award "Outstanding Enterprise of the Year" in the year 2014.
  • Mr. Savji Dholakia, the founder and chairman of Hari Krishna Exports, is awarded the 4th highest civilian award of India, called ‘Padma Shri,’ from the Hon’ble President of India, Ram Nath Kovind in 2022.

References

  1. ^ "Rio Tinto's Select Diamantaire: Hari Krishna Exports Pvt. Ltd". Rio Tinto.
  2. Damor, Kalpesh; Umarji, Vinay (23 October 2014). "Newsmaker: Savji Dholakia". Business Standard India. Retrieved 7 February 2020.
  3. "Savji Dholakia to receive Padma Shri award; here's all you need to know about Surat-based diamantaire". Free Press Journal. Retrieved 26 January 2022.
  4. "Meet Billionaire Diamond Merchant Savji Dholakia Who Gives 600 Cars As Diwali Gifts". Outlook. 26 October 2018.
  5. ^ "Why I gifted Cars, Flats: India's Most Generous Boss talks to NDTV News". NDTV News. Retrieved 22 October 2014.
  6. "Amazing Story of a businessman who gifted cars, flats to Staff". Rediff. Retrieved 24 October 2014.
  7. "The Overall Domestic Diamond Market seems to be going North". Rough & Polished. Retrieved 29 July 2013.
  8. ^ "Company Profile - Hari Krishna Exports Pvt. Ltd".
  9. Internet, The (21 January 2017). "Diamantaire who evaded provident fund of staffers gifts 1,200 cars to them". The Times of India. Retrieved 6 November 2024.
  10. "Kisna Diamond Jewellery, India's second-largest jewellery brand by H. K. Jewels, marked its 17th anniversary". artofjewellery.com. Retrieved 10 February 2022.
  11. "Hari Krishna Exports Pvt Ltd - Manufacturer from Bandra East, Mumbai, India | About Us". indiamart.com. Retrieved 10 February 2022.
  12. "The desi Oprah who gifted 200 homes, 491 cars for Diwali". Rediff.com. Retrieved 26 October 2014.
  13. "Diwali gift: Flats, cars, jewellery to 'loyal staffers'". Business Line. 20 October 2014. Retrieved 26 October 2014.
  14. ^ "Gujarat diamantaire gifts 600 cars, FDs as Diwali bonus to employees". Business Standard India. Press Trust of India. 27 October 2018. Retrieved 7 May 2019.
  15. "India diamond merchant boss distributes cars as gifts". BBC News. 20 October 2014. Retrieved 26 October 2014.
  16. "Meet the Indian boss who gave cars, apartments and diamonds to employees". The Guardian. 21 October 2014. Retrieved 26 October 2014.
  17. Melvyn Thomas (21 October 2014). "Diwali bonanza: Surat boss gifts cars, flats and jewellery as bonus to his employees". The Times of India. Retrieved 21 May 2015.
  18. "Surat businessman gifts 1,260 cars, 400 flats to employees!". The Financial Express. 27 October 2016. Retrieved 28 October 2016.
  19. Dayal, Prashant. "Savji Dholakia didn't really gift 600 cars to his employees, there was a catch that everyone missed". MeraNews. Retrieved 7 May 2019.
  20. Dayal, Prashant. "સવજીભાઇ ધોળકિયાને ખુલ્લો પત્ર: '1 કરોડની ઓફર કરનાર સવજીભાઈ તમે સત્ય અને અસત્યની વચ્ચે ઉભા છો'". MeraNews (in Gujarati). Retrieved 7 May 2019.
  21. "Surat diamond baron: Diamond baron who gifted cars to staff evaded paying EPF". The Times of India. 18 December 2016. Retrieved 7 May 2019.
  22. Sarkar, Asmita (18 December 2016). "Surat diamond merchant slapped with notice from EPFO for evasion of payment". International Business Times, India Edition. Retrieved 7 May 2019.
  23. Thomas, Melvyn (21 January 2017). "Employees' Provident Fund Organisation: Diamantaire who evaded provident fund of staffers gifts 1,200 cars to them". The Times of India. Retrieved 7 May 2019.
  24. Thomas, Melvyn (14 January 2017). "Diamond firm may face action under EPF Act". The Times of India. Retrieved 7 May 2019.
  25. "Kiran Gems Wins Top GJEPC Export Award". idexonline.com/. IDEX - International Diamond Exchange. Retrieved 28 January 2017.
  26. "Hari Krishna Exports Receives GJEPC Award 2011-12". rapnet.com. Retrieved 11 October 2012.
  27. "Hari Krishna Exports Receives GJEPC Award 2012-13". floroscent.com. Retrieved 11 October 2013.
  28. "Hari Krishna Exports Receives Coveted Intl. Business Award by The Stevies". diamonds.net. 26 August 2013. Retrieved 26 August 2013.
  29. "Hari Krishna Exports honoured with two accolades The Stevies 2014". diamondworld.net. Retrieved 26 August 2014.
  30. "Company/Organization Awards Winners". stevieawards.com/. Stevie Awards, Inc. 25 November 2014. Retrieved 28 January 2017.
  31. "Award recipient of: Outstanding Enterprise of the Year – India". jnaawards.com. UBM Asia Limited. Retrieved 28 January 2017.
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