19 Nov 2018
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Arunkumar Mehta Honored with ‘Life-time Achievement Award’
A Doyen of Diamond Industry, Arunkumar Mehta Honored with ‘Life-time Achievement Award’...
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Nov 6 2007 12:00AM
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Arunkumar R. Mehta – a doyen of the diamond industry was recently honored with a Life-time Achievement Award at a special function of the Gem & Jewellery Export Promotion Council (GJEPC). This certainly is laudable as an honor bestowed upon a deserving stalwart who stands head and shoulders above all other diamantaires.

Starting with the setting up of a tiny diamond cutting and polishing unit in Mumbai in 1960; he has continued to scale higher and higher peaks of success over the subsequent years.

There is not a single diamond manufacturing centre worth the name in the world where his Rosy Blue group may not be having its manufacturing activities. Rosy Blue, has thus set up over the years its manufacturing units in Israel, Sri Lanka, Thailand, Belgium, USA, Armenia, China, S. Africa and even Russia. Besides, his group is active in all segments pertaining to diamond business right from rough gemstones to cut and polished diamonds and production and distribution of fine diamond jewellery as well. Arunkumar Mehta is the senior most Director of the Rosy Blue Group. He is the founder member of Diamond Exporters Association Ltd. and has been its Vice-President. Also, he is a member of the Managing Committee of the Bharat Diamond Bourse. For about 20 years he was a member of the Managing Committee of the Gem & Jewellery Export Promotion Council. His contribution to the growth of the Indian diamond industry has been quite significant. He has been a source of inspiration to all those endeavouring to enter this exciting business.

Arun Bhai Mehta, is associated with several charitable, educational, and healthcare institutions. He is a Trustee of the Rajmal Rikhabchand Charitable Trust, Bombay Diamond Merchants’ Association Relief Fund etc. Besides, he is the President of the Palanpur Samaj Kendra.

While felicitating Arunbhai for this honour, Diamond World’s Mumbai representative had an interesting chat with him. Excerpts :

What is your age, sir ? How were you attracted to this business ?
As I was born at Patan (N. Gujarat) in January 1940, now I am 67. Apart from our parents, there were four members in the family- three brothers – myself, Harshadbhai and Dilipbhai – and one sister.

After studying upto SSC, I joined a college for higher studies. My father, Ramniklalji Mehta was doing some diamond business. His friends advised him to induct me into this business. This changed the course of my life. Subsequently I got some training in the Ratanchand Laxmichand & Company’s diamond units in Surat and Navsari. For a few months I went to Pondicherry where in my uncle’s firm I got some training for accounts and import business.
When and How did you launch your own diamond business ?

Even today I remember well that in 1958 I purchased one diamond for Rs. 25 and sold it at Rs. 27! This was my first brush with this business. Subsequently, I started purchasing –polished gemstones from some units and selling them in the market. This gave me enough experience about assortment and marketing.

When did you start manufacturing activity ?
My maternal uncle Bhanuchandra Bhansali was doing some business in rough diamonds with his son-in-law. He decided to set-up a partnership with me for a diamond cutting unit in Mumbai. This is how we started in 1960 our company – B. Arunkumar & Company and set- up its first tiny manufacturing unit in Mumbai. Initial business activity was quite limited. This is evident from the fact that we purchased rough worth about Rs. 25,000-30,000, cut and polished it and sold the same in the market. This yielded small profit, but added to our confidence.

When did you start business in Antwerp ?
In 1970 Dilipbhai went to Belgium to settle down there. He set-up the Rosy Blue firm there.

When did your firm become a DTC-Sightholder ?
Our firm became a DTC Sightholder in 1969. Thus we started getting rough stones from this all important direct source.

Do you get rough from other producers too ?
There are five major producers of rough in the world at present. Rosy Blue is getting rough from all of them.

When did you start jewellery manufacturing business ?
We turned our attention to this activity around 1985. At present jewellery accounts for the major share of Rosy Blue business.

What is the philosophy of the Rosy Blue Group ?
It has been the philosophy of our group to spend regularly a part of our earnings on education, healthcare and charitable objectives. All members of the Rosy Blue Group share this humanitarian view.

What have been the important milestones in the progress of your Group ?
In 1969 our group obtained DTC’s approval as its Sighthoder. This was a noteworthy event in the Group’s history. Another equally memorable milestone was the opening of its Antwerp office in 1973. On the whole the company’s progress has been smooth without any upsets. This is a matter of happiness for us.

What about Rosy Blue’s business policy ?
We believe in a business policy that none of our clients should incur a loss. Ours is a family business. As the time passes, senior members step aside encouraging the younger generation to take up more responsibilities.

What are your dreams after achieving such outstanding success ?
After achieving this much growth over the last four decades, one does not foresee similar growth prospects in the coming years as no new large diamond mines are coming up. So, while continuing our present activities we are exploring possibilities of diversification into some other areas as well. We are encouraging the younger generation to get the necessary education needed for such other activities. We feel that India provides the best place for such other activities as well.

While prices of Rough continue rising, polished prices seem to be dragging behind. What are the reasons ?
The main reason for this situation is that diamond producers had earlier started the policy of restocking and stepping up supplies to market. All these supplies were cut and polished within a relatively shorter time as the manufacturing capacity had been greatly enlarged during the earlier years. However there has been no corresponding improvement in offtake at the retail level. This has led to considerable accumulations of stock in the pipeline. Once the pipeline gets cleared, prices of polished diamonds are bound to rise like those of all other goods.

Apart from diamond and jewellery business, which are the subjects of your interest ?
My other subject of choice is reading.

What is your message to the contemporary diamond industry ?
Those who are already established in the business should make room for the new generation in time. Those who are contemplating to enter this business for the first time may do well to remember, capital requirements have gone up considerably in this business. Besides, teamwork is quite necessary for success.
- M.D. Dewani

Arunkumar Mehta’s contribution and guidance to the upcoming and existing diamantaires for their business growth is phenomenal. He is always willing to guide those who approach him. We also seek his advice on various issues. His advice is invaluable and reflects vision. The industry highly appreciates the services he has rendered to it and in appreciation of that we have honored him with this award.
- Sanjay Kothari,
Chairman, Gem & Jewellery Export Promotion Council
Conferment of the GJEPC’s ‘Lifetime Achievement Award’ is a well deserved honor for Arunkumar R. Mehta’s dedication and immense contribution to the diamond as well as the gems and jewellery industry. We really admire his business acumen and work ethics that have gained respect for him throughout the industry and for his dedication to philanthropy that completes the picture. He has always been a role model to a number of diamantaires as an industry leader. The younger generation looks up to him for providing the right direction. We wish every success in all his future endeavoures and hope that he may continue to contribute even more to the industry.
- Kirtilal K. Doshi
Chairman, Shrenuj & Company
While heading his own business empire, Arunbhai has been an active participant in various trade associations as well as charitable organizations. His guidance and leadership have been of immense value to all such organizations over the last three decades or so. He is a person with great clarity of thought and vision. In fact, he is endowed with uncanny ability to assess problems with great simplicity and arrive at practical solutions. He rarely puts an issue on long hold. He has ably guided his company to diversify from manufacturing activity to trading, global marketing and even retailing. Arunbhai has headed the Rosy Blue Group with amazing focus, impeccable integrity and outstanding leadership. It is not for nothing that B. Arunkumar Group – now Rosy Blue occupies an outstanding position in the global business fraternity.
- Ashish K. Mehta
Director, Kantilal Chhotalal
I am very pleased to convey our heartiest congratulations to Arunbhai on his Lifetime Achievement Award. Arunbhai stands very tall in the diamond and jewellery business both in India and worldwide. He is a great achiever with his deep insight and dynamism and he has helped people in business with his good advice. He is also well-known for his social activities as a generous and socially concerned person. I wish him long life and still higher heights.
- Bharat Shah
(Noted Senior Diamantaire)
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Rao Saheb
(Govandi slum, Mumbai)
A am overwhelemed by seeing profile of great legend of 21st century Hon'ble ArunKumarji who have made empire from zero to multilevel kingdom having interest in social work and welfare. There are many big jargons crazy for money but very few are for social responsibility. He has shoulder many awards, appreciations and receipient of momentos in a Globe. Long life to big Legend of 21st Century
Rao Saheb
(Govandi slum, Mumbai)
A am overwhelemed by seeing profile of great legend of 21st century Hon'ble ArunKumarji who have made empire from zero to multilevel kingdom having interest in social work and welfare. There are many big jargons crazy for money but very few are for social responsibility. He has shoulder many awards, appreciations and receipient of momentos in a Globe. Long life to big Legend of 21st Century
Rao Saheb
(Govandi slum, Mumbai)
A am overwhelemed by seeing profile of great legend of 21st century Hon'ble ArunKumarji who have made empire from zero to multilevel kingdom having interest in social work and welfare. There are many big jargons crazy for money but very few are for social responsibility. He has shoulder many awards, appreciations and receipient of momentos in a Globe. Long life to big Legend of 21st Century
Acharya Ratna Dasa
(Bangalore)
I would like to congratulate Mr.Arun for his achievements and i was quite impressed after going through his profile. I would expect to have a direct meet with him to get some more insights .
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