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  #1  
Old June 18th, 2010, 10:09 PM
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Thumbs up Gujaratis dominate Antwerp diamond body polls

Gujju bhais do it with diamonds!

I am happy that our very own Gujju bhais have now become a strong presence in the international diamond market!



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Gujaratis dominate Antwerp diamond body polls

Ahmedabad: If there was any doubt about the dominance of Gujaratis in the diamond trade, there shouldn’t be any now!! For the second time in a row, Gujarati diamond traders made a clean-sweep of the elections to Antwerp World Diamond Centre (AWDC), the umbrella body of diamond trade and industry in Antwerp, winning all the six seats that went to the polls.

Elections were held for six out of the 12 seats of AWDC on Wednesday, all of which were won by Gujarati diamond traders settled in Antwerp. According to AWDC officials, the seats that went to polls were divided into three categories to ensure equal representation of large, medium and small diamond companies in the AWDC board.

Amit Bhansali of Rosy Blue and Nishit Parikh of Diarough were elected directors in the category of companies having annual turnover of more than €100 million.

Sohil Jhaveri of Sauraj Diamonds and Nishit Kothari (Jewelex) were elected in the €30 million to €100 million turnover category, while Mihir Mehta (Diamco Star) and Sameer Mehta (Sneh Diam) were elected in the below €30 million turnover category. Gujarati diamond traders had won all the six seats of AWDC that went to polls in 2008 as well. But the community is likely to go a step further this time, and occupy the top post in the body.

“We could have laid claim for the post of AWDC president even last time, but we decided to support Jacky Roth, who is very close to Gujarati community in Antwerp, for the post. Roth has now resigned, clearing the way for elevation of one of the six elected Gujarati traders as the president of AWDC,” said Ashit Mehta, managing director, Blue Star, a leading diamond company.

Diamond industry sources in Antwerp said that Amit Bhansali of Rosy Blue and Nishit Parikh of Diarough are the frontrunners for the key post. The new president is likely to be elected within a week, a source said.

“The success in the elections of AWDC, which is a very influential organisation in diamond trade, speaks of the increasing dominance of Gujaratis in diamond business - not just in Antwerp, but across the world,” Mehta added. Interestingly, Mehta, who lived in Antwerp for almost 25 years before moving to Surat a few months back, was one of the Gujarati traders elected to AWDC in the 2008 polls.

Even Jews and traders of other nationalities voted in favour of the Gujarati traders, an official said. The remaining seats will be filled via nomination by the industry.

Hiren Shah, a diamond trader from Antwerp, said, "The stunning performance of Gujarati traders in AWDC elections reflects our increasing dominance in the diamond world."

Three more directors of the AWDC board are nominated by Antwerp's four diamond exchanges, one directly by the diamond manufacturing associations, and one by the employee organisations. The 12th and final member is an independent director, appointed by the new board.

Antwerp is the world's largest diamond trading hub, dealing in diamonds worth several billion dollars every year. It is estimated that 75% of the world's rough diamonds and more than half of the polished diamonds are traded via Antwerp. Until some years ago, diamond trade in Antwerp was dominated by Jews, but Gujaratis have emerged as the dominant community in diamond business in the last 10 - 15 years.

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  #2  
Old June 18th, 2010, 11:27 PM
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Re: Gujaratis dominate Antwerp diamond body polls

yes gujjubhais dominate the diamond business in belgium.Once i went to this shop owned by the jew.He came to know i was from India.SO he greets me jai shri krishna and asks me su che mara bhai.i was shocked.He said he can speak little gujrati and can understand it very well.He was a hadistic jew who are very orthodox.
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Old June 18th, 2010, 11:43 PM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by milanfanabhi View Post
yes gujjubhais dominate the diamond business in belgium.Once i went to this shop owned by the jew.He came to know i was from India.SO he greets me jai shri krishna and asks me su che mara bhai.i was shocked.He said he can speak little gujrati and can understand it very well.He was a hadistic jew who are very orthodox.
You mean hassidic jew...
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Old June 19th, 2010, 02:47 AM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by echarcha View Post
You mean hassidic jew...


yes right.the way they pronounce,i couldnt spell it.My jew buddy always tells me to beware of hasidic jews.they treat the bene israel jews lowly.
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Old June 20th, 2010, 02:43 AM
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Re: Gujaratis dominate Antwerp diamond body polls

Another Gujju achievement -

A surti guy becomes Executive Director at the University of Illinois.
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City boy becomes executive director at University of Illinois
TNN, Jun 18, 2010, 10.29pm IST
Tags:Chicago|University of Illinois
SURAT: Maulin Desai, 30, has done the city proud by becoming executive director at University of Illinois, Chicago (UIC). He has done MS (electrical and computer engineering in 2005) and his sphere of work includes Research Information System Administration, Electronic Research Administration and Clinical Research Information System Development.

He is also the founder of Fahrenheit Investment Management Company. Desai went to the US for further studies after BE (Electrical) from SVNIT six years ago.
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Old June 20th, 2010, 09:33 AM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by raniraja View Post
Another Gujju achievement -

A surti guy becomes Executive Director at the University of Illinois.


Penchor...Times waale kyaa marod chod ke chhapte hai.

http://tigger.uic.edu/htbin/ldap_sea...?netid=mauneel
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Old June 20th, 2010, 09:37 AM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by milanfanabhi View Post
yes gujjubhais dominate the diamond business in belgium.Once i went to this shop owned by the jew.He came to know i was from India.SO he greets me jai shri krishna and asks me su che mara bhai.i was shocked.He said he can speak little gujrati and can understand it very well.He was a hadistic jew who are very orthodox.
did that guy have two long dangling sideburns? if not, he is not hasidic jew.

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Old June 20th, 2010, 10:17 AM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by dhurandhar View Post
did that guy have two long dangling sideburns? if not, he is not hasidic jew.

yes long beard and dangling sidelocks.he was hasidic,i knew it by his appearance.he was being sarcastic to me,and was indirectly telling me that buying diamonds is not my thing.
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Old June 20th, 2010, 11:56 AM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by milanfanabhi View Post
yes long beard and dangling sidelocks.he was hasidic,i knew it by his appearance.he was being sarcastic to me,and was indirectly telling me that buying diamonds is not my thing.
So you are into diamond selling

Diamond raste par ghumke nahi bechne ka baba,dukaan mei bechega to logo ko original lagega nahi to duplicate samajkar refuse karenge
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Old June 20th, 2010, 12:35 PM
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Re: Gujaratis dominate Antwerp diamond body polls

I have not understood diamond valuation really. I mean I know that there are categories of diamond, something called VVS and VVVS and what not.

With gold you know that 24 karat is purest gold, then you have 22 carat for making jewellery. Then you have 18 carats too, etc.

Gold is not valued by just one or two companies like diamonds are. I believe there is just one big company De Beers which values a diamond. They alone decide what is the price for a carat of diamond, etc. Whereas with gold its sort of decided by a majority of companies/institutions. So you see the same rate for gold in any country with a few dollars here and there.

That is what I mean when I say I dont understand diamond valuation.
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Old June 20th, 2010, 02:24 PM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by echarcha View Post
I have not understood diamond valuation really. I mean I know that there are categories of diamond, something called VVS and VVVS and what not.
Original diamond gurus of our Indian variety were from Palampur district of Gujarat. People in Surat and Navsari were into cutting and polishing. I have couple of Jain friends from my teen years who are billionaires now ... but still decent, honest, honorable, and very humble. Nice people ... mostly wholesome families.

22k or 26k Gold is a better investment ... you know the price. With diamonds you get screwed while buying and you get screwed while selling. You are lucky if you get your cost back even after 20 years. But women want diamonds ... you cannot argue with them.
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Old June 20th, 2010, 02:36 PM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by tantric_yogi View Post
Original diamond gurus of our Indian variety were from Palampur district of Gujarat. People in Surat and Navsari were into cutting and polishing. I have couple of Jain friends from my teen years who are billionaires now ... but still decent, honest, honorable, and very humble. Nice people ... mostly wholesome families.

22k or 26k Gold is a better investment ... you know the price. With diamonds you get screwed while buying and you get screwed while selling. You are lucky if you get your cost back even after 20 years. But women want diamonds ... you cannot argue with them.
Thats the point! Someone decides that your diamond is VVS or VVVS and so this is the price! With gold there is a way for even a common man to find out whether its 24 carat or 18 carat.

Nah, I dont trust investment in diamonds. Gold is any day a far better reserve than diamond.
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Old June 20th, 2010, 02:43 PM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by echarcha View Post
Thats the point! Someone decides that your diamond is VVS or VVVS and so this is the price! With gold there is a way for even a common man to find out whether its 24 carat or 18 carat.

Nah, I dont trust investment in diamonds. Gold is any day a far better reserve than diamond.
What are the reasons for gold being so expensive,in India I can understand that people go for heavy jewelleries so there is a greater demand but in Europe and America etc people dont use so much of jewellery.

Even in ancient days currencies were in gold,aisa kya baat hai isme yaar.

Same with diamond,ok gold has some use in electronic circuits but what with expensive diamonds,low cost diamond one can understand is sometimes used as tools for cutting stones and metals but high value ?
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Old June 20th, 2010, 03:25 PM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by echarcha View Post
Thats the point! Someone decides that your diamond is VVS or VVVS and so this is the price!

From my personal experience ... unless for personal use of precious ... Diamonds are worthless for an investment.


With gold there is a way for even a common man to find out whether its 24 carat or 18 carat. Nah, I dont trust investment in diamonds. Gold is any day a far better reserve than diamond.
Again ... from my personal experience ... 24k gold coins or bars are the only ones you can be sure of. You cant be too sure with gold jewelery because all extra joint work is done (like in chains, and fancy bangles) with lessor grade gold mixed with cheap metals for strength and durability. 22k gold bangle my turn out to be 18 when melted depending upon joints. 18K is too often only 14 when melted. Even if jewelery you wish to return or upgrade is still in brand new condition ... "we will melt to make new jewelery" is all that a jeweler will claim.

Another thing I found out is that all those blue, green, and red precious stones are 1/10 of the value or even worthless if you ever wanted to return them back where you bought.

Too much dishonesty and traps in jewelery trade.
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Last edited by tantric_yogi; June 20th, 2010 at 03:27 PM.
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Old June 20th, 2010, 09:29 PM
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Re: Gujaratis dominate Antwerp diamond body polls

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Originally Posted by swami View Post
So you are into diamond selling

Diamond raste par ghumke nahi bechne ka baba,dukaan mei bechega to logo ko original lagega nahi to duplicate samajkar refuse karenge
nahi boss,apun thehra fatichar aadmi.yeh jew log aadmi dekhke naap lete hain.They are not like gujjubhai who say dekhne ka paisa nahi lagega.
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