Diamond World (DW) May - June 2020

In MeMorIaM
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.
DiamonD WorlD | may-june 2020 | 41