All 6 seats were won by Gujarati traders; one of them may become president of Antwerp World Diamond Centre.
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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