India's KGK Group will open diamond-manufacturing plant in Armenia

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10.01.2023, 12:16

India's largest diamond processing company KGK Group will open a diamond manufacturing plant in Armenia, Economy Minister Vahan Kerobyan said to Public Television of Armenia.

India's KGK Group will open diamond-manufacturing plant in Armenia

YEREVAN, January 10. /ARKA/. India's largest diamond processing company KGK Group will open a diamond manufacturing plant in Armenia, Economy Minister Vahan Kerobyan said to Public Television of Armenia.

Kerobyan noted that KGK Group, which accounts for 8% of the global polished diamond market, will open the plant in the town of Abovyan within 1-2 months.

"In 2020, Armenian exports of processed diamonds amounted to $200 million, and this year this figure is expected to double,’ he said, adding that that will be the largest ever amount of diamond exports.

He said several large investments were made in the diamond processing industry in Armenia, the largest being from India's KGK Group, which is already bringing dozens of Armenian jewelers back to Armenia from other countries.

According to the minister, KGK Group is expected to export $300 mln worth of processed diamonds from Armenia next year.

The KGK Group, was founded in India in 1905. Today it has a global presence across 17 countries and has evolved as one of the most preferred brands in the Gems & Jewellery industry. 0-

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