Interview with Mr. Rahul Pandey

Marketing is all about people. A person’s personality can influence the motivation and the working abilities of their network. People who are great at dealing with other people have a greater chance of succeeding than people who are not that social. Let’s meet Rahul Pandey and listen from him about his learning in Indian Diamond Industry.

Rahul Pandey with Chetan Parmar

Chetan Parmar and Rahul Pandey

How did you start your career in diamond industry?
I started my career 7 years back in 2003 as a Diamond Assorter, with a company named Suresh Brothers. I worked with them for 3 years, later started working in Sale and Marketing at Kapu Gems – which is a big diamond manufacturing company (Solitaire Diamond).  Around this time whole economy was not doing well, I was still in learning phase; however I was able to give my best and kept my performance as per expectations.  This helped create good belief between me and my employer. In recent years I have worked for Pansuriya Impex in Sales.

Personally recent recession was a life changing experience for me – it helped me build confidence and broaden my horizon.

Tell us more about 2008 slowdown in Diamond market?
2008 slowdown was of a big magnitude for Diamond industry. From what figures I have seen from different sources – 25 % of  Skilled people lost their work. This gaping period lasted for a year and many of these joined different industry. Later when businesses started picking up lot of opportunities were created for new people. There are many new business and new people. No doubt the slowdown caused lot of pain at all levels but it was a great learning for everyone – learning hard-way.

Who is yours mentor in diamond market?
Really I don’t have any mentor in diamond market but I consider Robert Kiyosaki as my Mentor. He is an Investor himself, a coach and writes books on wealth creation, I follow his work sincerely.

Where do you see Indian diamond Market in the whole world?
Indian Diamond Industry has complete business chain . There are lot’s of brokers Traders and strong Manufacturing base. Presently there are some countries who have Manufacturing and consumers but then they don’t have complete end to end chain of Manufacture-Trader-Broker-Jewelry showroom-Consumer. Other competing countries do not have many important components for some or the other reason.

Indian Consumer base is growing – there are many Indian online portals selling diamond jewelery and they are getting better day by day.

If not Diamond Industry which profession or Industry you would have chose?
I would have got in to Network Marketing. I see strong future in this – connects Manufacturer directly to Consumers; In India this industry has a lot to grow. This is an Industry where there opportunities to make big money and spend time efficiently.

If you get chance to change one thing in Indian diamond Industry – what will you change?
There are two types of changes – external and internal. The internal change which I would like to see is growth in Sales to Indian consumer. Presently there is lack of focus and efforts on selling Diamonds to Indian people or consumers. Complete attention is  put to foreigner customers – American’s, Chinese, Israel etc.

Within Indian Diamond industry – I also see bias attitude when it comes to dealing with Indian customers. Its common to find that a same product is sold at cheaper rate to Foreign customer but if customer is local/Indian then it is sold at expensive rate. People fear of competition and don’t want other person to do business in local market. This attitude and biased dealing is not healthy and I am hoping that people will someday broaden their vision in this aspect.

What changes do you think will occur in Indian Diamond Market in coming 5 to 10 years ?
The chain between manufacturer and Consumer is getting shorter. Many middle layers are slowly getting out of market. It will be important to place yourself in right position – probably towards end of the chain – rather than staying in between. This is happening in lot of industry including Indian Diamond market.

If all companies from Indian Diamond Industry are listed on Stock Exchange which stock would you invest in?
BlueStar Diamonds.

Any message to readers?
I think is doing a fabulous job by getting the message across the people – this will create awareness about Indian diamond industry. For a community to evolve both(positive and negative) feedback are important. Keep it up

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