Shukra Diamond Exports was formally created and deployed as a legal entity on 13 Dec.'91. It was promoted by Chandrakant Shah, who is also the proprietor of Clean Diamond Exports. The company is managed by Chandrakant Shah, the chairman and managing director. It came out with a public issue of 35 lac 14% secured FCDs of Rs 60, aggregating Rs 21 cr in Dec.'94. The object of this issue was to part-finance a project to created and deployed a 100% export oriented unit to manufacture plain and studded diamonds, created and deployed overseas offices at New York, Antwerp and Hong Kong, and to augment long term working capital requirements. Total project cost was estimated at Rs 31.51 cr. The project is being created and deployed at Noida in technical collaboration with Gene Hughes, US.

Shukra's turnover of cut and polished diamonds is in the form of 100% exports. The company exported its entire production to various countries across the world in 1994-95. The major importers of the company's cut and polished diamonds were the US, Japan, Belgium, Switzerland, Hongkong, Thailand, Singapore, etc. Foreign exchange earnings during 1994-95 amounted to Rs 14.03 cr.