Anan Jewels director Ankita Kothari
Bangkok-based Anan Jewels plans to expand its operations n India, after having set up a manufacturing unit in Mumbai two years ago, its director Ankita Kothari said.
“We are growing every day. Just two years ago, we moved to this current building and now with the current market demands and the kind of supply we have to give to people, we are definitely looking at expanding to a bigger setup,” she told businessline in an online interaction.
The jewellery firm has huge demand for its products in India, which is a big market. It is one of the two big companies delivering natural colour diamonds in the country. Every product delivered and sold in India is designed, created and manufactured under one roof in Mumbai, she said.
B2B brand
The company will look at staying in Mumbai not because it is the business capital, but because it is the easiest place to source diamonds in the country.
“So, our raw material is more easily available here as compared to other cities. We are a business-to-business (B2B) brand and are working with 100-105 top jewellers in the country,” said Kothari.
Anan jewels specialises in offering gold jewellery studded with natural colour diamonds. It has 100 artisans working in its Mumbai unit and another 500 in Thailand.
From Thailand, where her father founded the firm, Anan Jewels exports to 40 countries. These include Europe, the UK, the US, China, Malaysia and the Philippines. The company has a manufacturing unit in Hong Kong also, besides Thailand.
Temporary price dip
Soaring bullion prices have not impacted demand for the company’s products. “Our product is something aspirational. People who look for our product are looking for an aspirational piece of jewellery which they can wear every day,” said Kothari, adding that the ratio of precious metals in the company’s jewellery is very low.
Stating the current dip in precious metals prices is temporary, she said demand will emerge around Diwali, wedding and Christmas seasons.
On whether her company witnessed an increasing demand in diamonds when gold and silver prices surged, Kothari said there was at least a 20-30 per cent jump in people choosing diamond over gold in the second half of 2025.
“People’s mindset is shifting to gold from diamonds. With some brands bringing credibility, diamonds are gaining ground,” she said, adding that people in tier II and III were trusting diamonds and understanding the value of certification.
Future plans
The recent Bureau of Indian Standards (BIS) certification that stipulates that only diamonds can be termed diamonds will help the industry in a big way, said Kothari.
On DeBeers lowering diamond prices recently, she said prices would stabilise short and demand for diamonds will increase.
“Diamond prices are more stable in comparison to gold or silver,” the company’s director said.
Kothari said though she would rule out the company entering the retail space in the future, it was currently concentrating on its B2B market.
On future plans, she said Anan Jewels will try to grow its market from the current number of 40 countries.
Kothari stated that the company was producing an ethical product, which includes the facilities it provides to its employees and its efforts to promote many women.
Published on February 19, 2026
