About US

Established in India more than five decades ago, M/s. Popatlal Nathalal Shah (P.N.Shah) is a multinational 'House of Diamonds' spanning the entire pipeline from rough manufacturing to polish sales and marketing it globally around the world. P.N.Shah was established by Late Shri Popatlal Nathalal Shah with its first office at erstwhile diamond hub Opera House in Mumbai with the strong vision and commitment to attain the sustainable business growth through providing quality products. Today, P.N.Shah is managed by Mr. Ajay Shah, son of late Shri Popatlal Nathalal Shah who continued to carry forward the rich traditions and strong business fundamentals in terms of consistent quality, fair pricing, enriching the ever changing customers’ need and thereby creates maximum value to all stake holders.

Business Model

M/s. Popatlal Nathalal Shah (P.N.Shah) is engaged in the business of rough diamond manufacturing to polish sales and marketing it globally. We process rough into polish diamonds ranging from 0.20 cents to 20.00 carats in all shapes colors & clarity. These diamonds are manufactured in state-of-the-art manufacturing center located in Surat, Gujarat. The unit houses over 500 skilled craftsmen who constantly work towards ensuring that every single piece manufactured conforms to International Standards.

Business Background

P.N.Shah is a family run business established in India six decades ago in the mid 1950’s by Late Shri Popatlal Nathalal Shah. The business which runs in the shah family’s blood has passed on its legacy to the next generation family members. Mr. Ajay Shah (son of late Shri Popatlal Nathalal Shah) along with his son & nephews continue to carry forward the rich traditions and strong business fundamentals in terms of consistent quality, fair pricing and high ethical values.


We believe that our progress coincides with the progress of our customers. The Group has over the years, built a strong foundation that gives the strength to overcome challenges and continue to believe in the sustainability of the natural diamond business.

Our Mission & Vision

“To consistently offer quality products at fair price coupled with timely delivery and prompt services”
“To work together towards sustainable growth and development of the industry, inspired by the strength of unity and unified action."

Ethical Values & Business Practices

We appreciate and acknowledge the high level of trust posed by the industry and all the stake holders over the period of six decades. We believe economic growth can and must be achieved with ethical, social and environmental responsibility. Doing business ethically to us means more than doing business to grow financially. We believe that money is the by-product of doing the right things at the right time and in the right manner.

We manufacture only Kimberley certified diamonds, thus adhering to international, multi-stakeholder initiative created to increase transparency and oversight in the diamond industry in order to eliminate trade in conflict diamonds.

  • Compliance with & supporting the RJC Code of Practices
  • Compliance with all applicable legal & other requirements
  • Preventing giving or receiving bribes or facilitation payments
  • Not indulging in money laundering or terrorist financing
  • Reporting any suspicious transactions to the Authorities
  • Compliance with the Kimberly Process & WDC System of Warranties
  • Not dealing in conflict diamonds
  • Ensuring correct disclosures for the diamonds during sale
  • Upholding human rights and the rights of children
  • Not employing children & ensuring no forced labour
  • Providing equal opportunity to all employees without discrimination
  • Providing a healthy & safe work environment to all employees
  • Ensuring that the working hours are in line with legal requirements
  • Ensuring that at least minimum wages are paid to all employees
  • Protecting the environment through reducing, reusing, recycling

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