Interview with Amit Vora

Tell us about your career/journey in Diamond Industry?
I was not related to Diamond Industry in Early years of my career. I am an Engineer (B.E in Electronics). My uncle was in to Diamond business. I got one good opportunity and decided to go for it. It was to handle India division for an US based company – Trans American Jewelry Co. I would look after end-to-end process – procurement of Diamonds till final product(Jewelry).

Now, I am at Kama since last 2 and 1/2 years. Here I look in to Diamond buying.

How was your experience from 2008 slowdown?
Not good! Lost faith in market. Too much uncertainty. It was difficult to see job cuts. Personally I think it was unethical to lay-off people.

In last 12 years of your Diamond Industry career, is there any distinct Good or Bad things you have observed?
2008 – was an eye-opener. Although times were tough, still you would find many good people supporting each other and trying to do business. Well That was about it!

2009 started, all businesses were growing. People jumped to Greedy mode in no time. At individual level lot of members were competing in an unhealthy manner.

I think after 2008, general Attitude in markets have changed. Ethics are rare to find. Its irony that we deal in to Precious Diamonds but you will find many(Including Big giants from our market) with a very narrow mind.

Having said that, still there are people who have retained Ethics in business. These people are source of inspiration. However there are so few of them that you can count on finger-tips.

What Changes do you for-see in market in next 2-3 years?
Actually after 2008, processes in our Industry has started becoming more organized. Industry will continue to transform and become more organised. New generation of people have become part of Industry. Many of these are Graduates and MBAs etc. This will definitely bring in new thought process and ideas in market.

New kind of Human Resource (or labour) problems will arise. New generation people are looking for fast growth hence it will difficult to hold them in a single job/company with out showing them growth prospects. Even today you will see its not easy to find and retain good people. This challenge will keep getting bigger. May be company owners have to learn this and adapt themself. If you do not care for people in your team there will Employee loyalty crisis.

What do you think about position of Indian Diamond Industry compared to rest of the world?
We are on top! And to continue to to do well we will need to learn good things from other matured international markets. If you compare Belgium and Israel, there are lot of things we can learn from them. We are bigger in Skilled labour resource but there are many impressive business aspects from these international market.

Share one tough decision you have taken in recent times?
[smiles] Really cannot think of anything. I think its been smooth ride.

Whats your favorite thing (pass time) when you are not at work?
I like to spend time with family.

Any message for readers?
As I said earlier, we need become more open minded, pick and choose good ideas, get more organised. Always remember whatever happens Basic rules of business(law of nature) will not change, don’t try to bend them. We should just not focus on personal gains but support new people as and when possible. This will in turn help whole Industry to grow.

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