Interview with Hiten Mehta, Owner Mehta Diamonds

Hiten Mehta - DiamondBhai Interview - Shree Ramkrishna Exports

Tell us about your career in Diamond Jewelry Business?

In 1993, started with Assorting loose Diamonds in Shree Ramkrishna Export. I worked here for almost 19 years. After this decided to go on my own and started business under name I mainly deal in to Diamonds and Diamond Jewelry.

In Shree Ramkrishna Export I had started as Diamond Assorter for stipend of Rs. 500 . In quick 6 months, learned all about diamonds and it’s manufacturing. I was shifted in local sale. 2 years later, I was sent to Belgium for loose Diamonds dealings. Stayed in Belgium for good 2 years. Company was planning to open Diamond Jewelry firm for which I got chance of getting some training at Sheetal Manufacturing, here took experience of 6 months. Company started firm named Jewel Goldi – sister concern of Shree Ramkrishna Export. For a while I worked from factory itself and then I moved to Belgium again for Diamond Jewelry sale. After this I was also also placed in USA for sales for 4 years.

What do think of 2008 slow down in market?

At 2008 I was working with Jewel Goldi (Shree Ramakrishna Exports) market was in complete slowdown. Our company utilised time on product development. Company also did some branding and advertisement during slowdown. With small JEWELERS we took responsibility of branding and with big brands we worked out some percentage. So once slowdown was over company got lot of return on all the risk that was taken. Returns were more then we could have imagined.

Way do you think of the recent slow down in diamond market?

It’s marginal slow down – things will get better. Might last 6 months or so I think.

Causes of slow down is dollar rate is too high and it’s not stable right now. If we look for everyday fluctuation is around 1% or some time 2% which is very high and people are in fear if dollar goes down again at 50 than that will cause huge losses. So once dollar gets bit stable – it will start supporting diamond market.

If you get chance – one thing in Diamond Market that you would like to Change?

Transparency – I would like to bring more of it. Same stone is priced differently for each and every person. I would like to create more confidence amongst Buyers (end users) in Diamonds. Today people prefer Gold, because they have confidence on its pricing. With Diamonds things are not that organised. Certificates are one way of eliminating confusions, but more needs to be done.

What changes do you see happening in next few years in Diamond market?

haha..may be some new TV channel will pop up – which is dedicated to selling diamonds and diamond jewelry – that is something I am expecting in few years.

If all diamond company are listed in stock market which company would you like to Invest?

I would invest in Rosy Blue – reason is – all other big companies are running on Bank Money.

Any message for Readers?

I have been following DiamondBhai closely and I see honest efforts. You have tried couple of things like market and jobs section. I would convey market members to use them and give more feedback to make it better. We desperately need open community platform like this one.

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