Diamond World (DW) May - June 2020

In MeMorIaM
Arunbhai welcoming a
diamantaire from overseas
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.
Arunbhai will not be remembered
only for his business prowess; but over
time, his experience, wisdom, honesty
and most importantly willingness led to
him becoming a mentor and contributing
to the training and guidance of several
of our country’s leading diamantaires.
His approach was practical, simple and
effective, leading him to be one of the
most sought after advisors and problem
solvers - be it for personal or professional
issues, and it is testament to his immense
humility that he never declined to
support someone who sought his counsel.
For those who knew him, he was always
a phone call away: no problem or
discussion was ever delayed or avoided.
The Brainchild behind a
Diamond Empire
In the late 50s, a 19-year-old moved
to Bombay to start his career as
a trainee in a diamond firm. He
learnt the ropes of the diamond trade
by understanding the nuances of every
aspect of diamond manufacturing. He
worked in cutting, sorting polished
diamonds and even learned the basics
of boiling rough diamonds, cleaning
the stones and making parcels. Having
learnt how each department of diamond
manufacturing functions, Arunbhai
started out as a broker
and a diamond dealer. In
1960, along with his uncle
Bhanuchandra Bhansali,
he founded the company
B.Arunkumar & Company
with a mere Rs.25,000
investment worth of rough
diamonds.
The Indo-China war that
held between 1962-63 was a big
blow for the diamond trade. With
prices decreasing by 20 per cent and
all that unsold inventory, Arunbhai
swiftly decided to turn their attention
overseas. the company’s was no looking
back. The company began to focus
all its energies into exports. In the
late 60s, Arubhai’s brothers Harshad
and Dilip Mehta joined the company.
As the business grew, they realised
they needed a presence in Antwerp.
Dilipbhai Mehta, the youngest brother
moved to Antwerp. B. Arunkumar &
Co. became a De Beers sightholder in
1969.
At every step of the way, the company
was first to innovate and experiment
under the guidance of Arunbhai. It kept
improving its manufacturing prowess
and in the 80s, the company decided
to make its foray into gem-set jewellery
for the overseas market. In 1987, along
with Conwood Group, the company set
up Intergold, a jewellery manufacturing
unit in SEEPZ, Mumbai. The group took
so many manufacturing units under its
wing and today is the largest exporter
of jewellery in the country.
Before the inception of
Rosy Blue, Arunkumar
Mehta used go to Antwerp
to buy diamonds from
Gembel’s Kirtilal Mehta
till the 1960s.
In 1973, he spun
off Rosy Blue from B.
Arunkumar and Co, which
he had founded with Bhanuchandra
Bhansali. In the beginning, Rosy Blue
was to be an Antwerp-based satellite
office for rough procurement and
polished distribution. Dilip Mehta ran
Rosy Blue for many years since its
inception.
In 2000, it changed its name to the
Rosy Blue Group, paying homage to the
two rarest diamond colours. The Rosy
Blue Group now has a global presence
in more than 12 countries and recently
took a position in Leo Schachter. At
present, Shri Arunkumar Mehta’s son
Russell Mehta is at the helm of Rosy
Blue Group.
Arunbhai receiving Award from former
Commerce Secretary Abid Hussain
36 | may-june 2020 | DiamonD WorlD