Local diamond trade to shut fully tomorrow in memory of Rosy Blue's founder

MUMBAI: India’s diamond trade will remain shut completely on Tuesday to mourn the death of industry doyen Arunkumar R Mehta , founder of B Arunkumar & Co that went on to be rechristened Rosy Blue , one of the world’s largest diamond traders , and a well-know DeBeers sight holder.

“The Bharat Diamond Bourse (BDB) , Surat Diamond Bourse and all other constituents of the industry will stay shut tomorrow as a mark of respect to Arunbhai,” said Anoop Mehta , president of the country’s largest trading hub , BDB.

Remembered by the industry for setting up one of the earliest cutting and polishing facilities and marketing initiatives , Mehta (80), who hailed from Palanpur , passed away at a south Mumbai hospital and was cremated yesterday .


“He was always willing to help and if you went to him with a problem , he’d break it down thoroughly and offer a solution , a rare trait ,” recalled Ashish K Mehta , whose company Kantilal Chhotalal is a DeBeers sightholder .

India imports rough diamonds worth $16 bn and after value add exports polished diamonds worth $21 bn annually .