End of an Era
The demise of this great visionary and
industry veteran at the age of 80 in
Girgaum, Mumbai marks the end of
era and passing away of a beacon who
ensured that diamonds processed in
India reached out all across the world
and secured admiration for their quality
and finesse.
The history of the Indian diamond
industry would have been different
without Arunbhai’s key contributions. In
the late 1970s he was one of the pioneers
of its modernization and rapid growth
phase, allowing him to not just grow the
company he co-founded – Rosy Blue, but
also the industry as a whole.
With his vision and business acumen,
he was able to seize opportunities but
above all else he always prioritized high
integrity and business ethics; helping
the industry, like Rosy Blue, gain a
favourable and trustworthy reputation.
His participation and efforts in a number
of trade organisations contributed
immensely to the growth of the whole
industry. He was a member of the Managing Committee of Bharat Diamond
Bourse for a long period. He was also
associated with the Bombay (now Mumbai)
Diamond Merchants Association and a
member of the Working Committee of
The Gem and Jewellery Export Promotion
Council for over 20 years.
Achievements & Accomplishments
Shri Arunbhai Mehta was active in the industry,
serving as a member of the managing committee of the
Bharat Diamond Bourse and member of the working
committee of the Gem & Jewellery Export Promotion Council
(GJEPC) for more than two decades. He also contributed to
a number of charities designed to support and promote his
local community. He won the Lifetime Achievement Award
from the GJEPC in 2007.
Arunbhai lived a life of service which in later years became dedicated to philanthropy. He was the founding-member of the influential body Diamond Exporters Association Ltd. besides being active with the Bharat Diamond Bourse, the Gems and Jewellery Export Promotion Council, Rajkamal Rikhabchand Charitable Trust, Bombay Diamond Merchants Association Relief Fund and was involved with other prominent organisations.
Arunbhai supported causes like education and medicine. Many of his endeavours were focused on the growth and development of the Banskantha region, and the Palanpuri community as a whole. Notably, he served as Chairman of Palanpur Samaj Kendra, Mumbai and of Vidyamandir Trust, Palanpur for several years, and he was also associated with Sir Kikabhai Premchand Trust, Banaskantha District Kelavani Mandal and the Gem and Jewellery National Relief Foundation.
Names of associations and
trade bodies Late Shri Arun
Mehta was affiliated with
What is your age, sir ? How were you
attracted to this business?
I was born at Patan (N. Gujarat) in January
1940, now I am 67. Apart from our parents,
there were four members in the familythree
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 DTCSightholder?
Our firm became a DTC Sightholder in
1969. Thus we started getting rough stones
from this all important direct source.
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 obstacles. 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.
Other than diamonds and business, what are your
interests?
My other subject of choice is reading.
What is your message to the 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.
Dilip Mehta, Brother
Our father, Shri Ramniklal
Mehta had a hard childhood
and lost his parents when he
was just two years of age. As a result,
Hiteshbhai’s (of H Dipak & Co.) great
grandfather played a great role in
bringing up my father.
Arunbhai was wise, not just smart. A smart person gets out of a difficult situation easily, whereas a wise person never lands in a difficult situation. He was my eldest brother, ten years my senior. He was my confidante, partner and buddy in my growing up years. He often treated me like a son, rather than a younger brother. He looked after all of us younger siblings lovingly. Everyone believed that he always took my side during any discussion. I too liked to believe it. But in reality he was truly impartial and when it came to matters of ethics he was totally just. In business, he was a great visionary – he believed in hard work and team spirit. During my learning years, he was my mentor and I looked up to him for sound advice in many cases. He always told me ‘know your numbers well. Never overlook the importance of sound accounting knowledge – you must know your accounts very well. He was a great believer in the power of team effort and therefore nurtured and valued people. These are values I recall to this day – ones which have seen the whole family in good stead in every situation.
Arunbhai also played a prominent role in steering the Indian diamond industry through these exciting times. At a personal level, his immense contribution lay in training and guiding many of the country’s successful diamantaires, and remained a mentor for many of the next generation. Many of them also recall how he would easily analyse the most complex of issues and offer practical advice and suggestion on how to overcome problems. Arunbhai selflessly dedicated efforts to the growth and sustenance of the industry through his involvement in numerous trade organisations.
He actively participated in a range of charitable organizations, adding immense value through his guidance and leadership. He was a leader sans comparison: his effective, nurturing style successfully unlocked people’s potential and even enthusiasm. He was associated with several organisations in the field of education, healthcare and religion. I had the privilege of working very closely with him.
I worked closely with him particularly in Vidyamandir Trust, Palanpur. For several years we visited Palanpur jointly in the winter and spent a lot of time with the management, staff, parents and teachers. The Vidyamandir family always keenly looked forward to his annual inspiring speech. He was a source of inspiration to all.
He was a person with great clarity of thought and vision. Endowed with uncanny ability to assess problems with great simplicity, he arrived at practical and sustainable solutions. For those who knew him, he was always a phone call away: no problem or discussion was ever delayed or avoided.
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