20 Oct 2014

Indian diamond firm gifts 491 cars, 200 two-bedroom houses & jewellery to 1,200 staff Worth $9 million

India's  Surat's diamond industry may still be struggling to regain its sparkle after the economic slowdown but about 1,200 employees of local firm Hari Krishna Exports have ample reason to celebrate this Diwali. The company has gifted the employees 491 Fiat Punto cars, 200 two-bedroom houses and jewellery ahead of the festival of lights.

"This is part of our rewards for loyalty programme for employees who have shown high degree of performance in the past five years," Savji Dholakia, chairman and managing director of Hari Krishna Exports told ET.

The incentives, adding to Rs 50 crore, were meant for the employees who contributed significantly to the growth of the company over the past five years, he said, adding that this is normal annual Diwali bonus for the company.

Established in 1991, the diamond firm has an annual turnover of Rs 5,000 crore and a workforce of about 6,000. It has presence overseas as well, in Belgium, Hong Kong and England.

Only 1,200 employees qualified for the rewards, said Dholakia, adding that the gift items were given based on the current needs of the employees. The employees who did not own a house were given the first preference for house. Those who owned a house were eligible for a car while the employees who had both a house and a car were given jewellery, he said.

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