Interview with Mr. Digesh Vora, Owner of Star Impex

In order to succeed, your desire for success should be greater than your fear of failure. Today we are glad to introduce Mr. Digesh Vora, Owner of Star Impex. Digesh Vora is ambitious Entrepreneur who is driven to succeed and expand his business.

Digesh Vora - Owner of Star Impex

Digesh Vora, Owner of Star Impex

Tell us about your career path in Diamond Industry?
I started my career in Mumbai Diamond Industry in 2000. In last 10 years – got experience in brokerage for 2 years; worked in sales for Rupam Impex (Ratnadeep Impex) and eventually started my own business under name Star Impex.

My father is part of Diamond Industry since last 30 years. He introduce me to Diamond industry.

Who is your mentor in Diamond Industry?
My Father, Mr. Vikram Vora, is my sole Mentor. He was the person I would turn to when I came to a crossroads or when things weren’t going quite as I planned. He encouraged me throughout my life to always improve myself, to challenge myself, and never stop learning.

He is part of Diamond market since last 30 years and more popularly known as Vikram-Mama.

If not diamond market – which profession would you have chosen?
I cannot think of any other profession. I like Diamond Industry and I like and take lot of inspiration from people I meet in our market. Diamond industry sees ups and downs like any other field. Risks and rewards go hand in hand.

How was your Experience in 2008 slowdown ?
Everyone knows that Slowdown started in global financial industry and impact reached each & every domain, including Diamond Industry. Stock Market, real estate, currency, and eventually effects reached diamond business. People in Diamond market are known for taking huge risks, many from our Industry burned their fingers in Stock market and foreign exchange. Their Diamond inventory had to take a cut, prices got correction.

I got a first hand experience of recessionary job cut, I lost my job.

I took this in right spirit. I had heard that recession is the best time to start a new business. Many well-known businesses began during a recession. I did my research, some careful planning and decided that now is the time for me to launch my company – ‘Star Impex’ was born. Today I am glad that I made a right move.

Where do you see Indian diamond industry in world?
India has grown in to biggest and most promising Diamond manufacturing base. There are many new small and medium size manufacturing companies and they are the backbone of the Diamond business economy. Its my belief that at this point of time small companies have more flexibility to adapt change and meet client’s expectation. A speedboat can go places a ship could never attempt. It is faster, agile, and can turn quickly to avoid danger. Small companies can respond to their clients and provide more personalized service.

What good or bad changes occurred in diamond industry?

I would talk first about not so good things, because good news always comes after bad one. I made a move in to Entrepreneurship when things were bad and believed that only thing I will see from here on is – Improvement.

Bad thing: there is too much impact of global economic ups and downs in Diamond market. In 2008 markets in USA were event driven. Eveyrtime a big company declared bankruptcy our Diamond market kept loosing steam. I wish this changes in future.

Good thing: Indian Diamond Industry is moving towards self reliant model. Previously costlier diamonds were traded in outer countries and low range products were traded in India, however that gap is slowly getting filled. Traders in India market use Online services to display their products and get potential deals done. You find buyers from all over the world ready to buy polished diamonds of all ranges from India based companies.

What changes will occur in diamond industry in next 10 years?
There is a new generation of people playing role in Diamonds industry now. Competition will rise and dynamics will change. People in past took lot of pain and their share of risks, however new generation will have to do more hard work sine market will keep getting more transparent. I believe market will getting more organized and standards will be followed. Customers will have faith in to pricing.

I am also very happy that we have Bharat Diamond Bourse ready to grow our business. It was must needed for growing business need. It will bring more productivity. It will give relief to small business owners who take risk of carrying costly products when they have to travel from one part of city to other. In bharat Diamond Bourse – we have all required elements like customs etc under one roof.

If all diamond market companies get listed on Stock exchange – what shares would you buy and why?
Companies that come to my mind are Venus Jewel, Rosy Blue, Blue Star (Manufacturing giant). Shernuj is good company. I would compare Venus of Diamond market to what Infosys is for technology. These companies are well managed and established. They will see lot of growth in future. These and many other companies have competitive advantage. They have above-average management and market leadership. I would definitely put my money with them at right price.

Do you want to give any message to diamondbhai.com readers?

Digesh Vora with Chetan Parmar

Digesh Vora - Owner of Star Impex, with Chetan Parmar from DiamondBhai.com

Diamondbhai.com is very good base for sharing information, it connects people in Diamond Industry. It allows people in market to share their opinion. Small business owners usually do not get interviewed, but they have lot of interesting ideas to share.

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