Established way-back in 1906 to serve Indian diamond trade and industry, Mumbai Diamond Merchants Association is planning to celebrate its centenary on January 12, 2008, with 100 glorious years of service to this sparkling trade and industry at its credit. The celebrations will be spread over 4 days.
'Diamond World' took the first opportunity to congratulate Navinchandra D. Mehta (Director D. Navinchandra Exports Pvt. Ltd.) the present President of this vintage organization who spared some time to throw light on the activities of the Association and upcoming plans. Excerpts…
Navinbhai: Starting on January 12, 2008, the celebrations will be spread over four days. Programs forming part of these celebrations will include organization of a blood donation camp, special worships and a grand cultural event.
Navinbhai: I have been a life member of this organization for about 50 years now, its committee member for 20 years and its President for the last six years. Its other office bearers are : Jashwantbhai A. Parikh (Vice-President); Prakash L. Shah (Hon. Secretary) and Mahendra V. Gandhi (Hon. Secretary). Its first office bearers were : Manekchand P. Jhaveri (President), Motilal D. Jhaveri (Vice-President) and Revashanker J. Jhaveri (Hon. Secretary).
Navinbhai: I am also a member of the working committee of the Bharat Diamond Bourse, Mumbai; Hon. Treasurer of Diamond Exporters' Association Ltd.; President of Jain International Trade Organization and Vice-President of Gujarat Heera Bourse. Earlier I was President of the SEEPZ Gems and Jewellery Manufacturers' Association and Vice-Chairman of the Gem & Jewellery Export Promotion Council.
Navinbhai: The main object of this organization was to help members in transacting business comfortably in a hall provided by the organization. Another object was to lay down certain rules and regulations to ensure fairness in trade dealings. This remains its object even today so that standards of ethical business are maintained.
Navinbhai: The organization has set up a trading hall for members. Introduced by our members, even outsiders can come there for business. Besides, the family of any person who has been its member for the past 10 years is given Rs. One lakh by way of insurance on death.
Navinbhai: There were about 50 members when the organization started. The membership has now reached around 13,000.
Navinbhai: The diamond industry and trade continued to grow over the years. The total volume of this sector's business which was once around Rs. 1 crore only is now reaching about Rs. 70,000 crore. The purchasing power of many people has also improved. Diamonds and diamond jewellery are now being purchased not only for investment alone but for fashion as well. This is how the diamond sector has continued to attract more businessmen and this organization more members.
Navinbhai: We have already obtained about 20,000 ft2 of space within the Bandra-Kurla Bourse Complex. We want to create facilities where about 3,000-4,000 persons can conveniently transact business at a time. We will even accommodate new members there. It is also proposed to set up 4-5 cabins which can be used by members on payment basis. All these facilities are expected to be ready with in 4-5 months. Even after the construction of the new trading hall the existing facilities at Dhanji Street in the city will continue. Besides, it is also proposed to place 10 special tables in the Bourse which the members can use on some payment.
Navinbhai: This organization has already started classes for assortments and designing. Response to this has been quite good.
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