Arun Mehta, Co-Founder of Rosy Blue, Dies at 80

Mumbai—Arun R. Mehta, one of the founders of global diamond giant Rosy Blue, died Sunday in Mumbai.

He was 80.

Born in Patan in the Indian state of Gujarat in January 1940, Mehta started a diamond cutting and polishing business in Mumbai in 1960 under the name B. Arunkumar & Company.

In 1969, the company became a Diamond Trading Co. (DTC) sightholder and, over the decades, grew into a global force in the diamond industry. The company changed its name to the Rosy Blue Group in 2000.

Today, Rosy Blue has offices in a dozen countries worldwide.

Still a De Beers sightholder as well as a client of Alrosa, it trades in both rough and polished diamonds, and manufactures polished diamonds and finished jewelry.

In 2018, Rosy Blue purchased a minority stake in Ramat Gan-based diamond manufacturer Leo Schachter.

Outside of the family business, Mehta was an active member of the industry.

He was a founding member of the Bharat Diamond Bourse, and served on the bourse’s committee and as its chairman.

He also was associated with the Bombay (now Mumbai) Diamond Merchants Association and was a member of the Gem & Jewellery Export Promotion Council’s Working Committee.

In a statement issued Monday, the GJPEC called Mehta the “doyen of the Indian diamond industry,” praising his integrity and ethics as well as his willingness to mentor other Indian diamantaires.

“His approach was practical, simple and effective, leading him to be one of the most sought-after advisors and problem-solvers, be it for personal or professional issues, and it is testament to his immense humility that he never declined to support someone who sought his counsel.”

Diamond businesses in Surat and Mumbai were closed today (June 16) in Mehta’s honor, the GJEPC said.

Outside of the diamond industry, Mehta was involved with many charities in India including the GJEPC’s Gem & Jewellery National Relief Foundation.

One of his granddaughters, Shloka Mehta Ambani, director of the Rosy Blue Foundation, said of her grandfather: “My dada actively served on the board of several trusts and projects … and always went deeper and met the beneficiaries, got involved with the organization and its processes.”

Mehta is survived by his wife, Rajanika; son Russell (wife Mona), who runs Rosy Blue India; daughters Amita Samir Mehta (husband Samir) and Alpa Nishit Kothari (husband Nishit); brothers Dilip and Harshad; and numerous grandchildren and great-grandchildren.