‘Madhu Bhai Mehta’ : A ‘Human Diamond’ Leaves for His Heavenly Abode

It is an irreparable loss for not only India but the entire modern global diamond sector to which he helped in building up brick by brick over the last many decades. I remember vividly his contribution which I had been personally witnessing during my annual visits to Antwerp and covering in our ‘Diamond World’ bi-monthly.

A Golden Link in A Glorious Family Chain :

In 1960, when Madhu was attending college the family moved to Antwerp. Madhu joined the business and the same year Jayam was established. Jayam was one of the first Indian companies to open its doors in Antwerp.

30 years of Progressive Cooperation to De Beers :

In India, another company called Samir Diamonds was established in Bombay in 1962. It was run by two of Madhu Bhai’s brothers and became part of the family business.

Jayam became the biggest diamond company in Antwerp in just a decade, and in 1974, it became a CSO Sightholder. Initially De Beers additionally supplied Jayam with large quantities of diamonds through Diamdel.

In 1975, one of Madhu’s brothers opened a New York City office of the family business, which soon became the largest seller of Indian polished diamonds in the US market. In the late 1970s, Jayam diversified and became a manufacturer of better-quality diamonds.

By 1978, Jayam opened a modern factory in Belgium’s Kempen, which was quite a tribute to the Belgian diamond community.

In the mid-1980s, the Israel government pleaded with De Beers to appoint an additional dealer for the Israeli market. Reviewing all the options, De Beers decided to ask Madhu Bhai to become the next Israeli dealer. He did.

At the top of his professional career, Madhu Bhai was the world’s single largest client of De Beers. Thousands of cutters, traders, manufacturers, jewellers and retailers were dependent on Madhu Bhai’s rough distribution skills, his fairness and sound judgment.

When around 1988 De Beers targeted Thailand as the next great place to manufacture diamonds. Madhu Bhai erected the largest state-of-the-art factory in Bangkok employing well over 1000 workers.

Thereafter century-old family business faced a temporary decline due to family problems a situation to which Madhu Bhai was sure that it would reverse itself as soon as he could concentrate again on business. Sure enough, in 1999, the business revived and Madhu Bhai was convinced that within a few years the company would again match its previous glory. However, it was not to be. The introduction of ‘Supplier of Choice’ was for Jayam the beginning of the end of a long relationship with De Beers.

Jayam lost its DTC Sight. Madhu Bhai sent complaints to the DTC Ombudsman, several times, The Ombudsman ruled in his favour. Yet DTC ignored; no remedial actions were taken by the DTC. He was forced to go to the court in London – where he lost. For Madhu Bhai and his family the judgment was an enormous blow, a disappointment.

What kept Madhu Mehta going was the strong knowledge that he was doing the right thing – all the time. During his lifetime, he showed enormous courage, backed by strong moral principles. His passing away was truly untimely. There was still so much for Madhu Bhai to do and he had been so determined.

Now his young son Mihir has to shoulder all the heavy responsibility for keeping the Jayam flags flying high even in temsests and turmoil. ‘Diamond World’ wishes him all the best for boldly facing the life’s rough and smooth with equanimity.

- Alok Kala