HRD Pays Tribute to Mafatlal Mehta

Belgium’s Diamond High Council, the HRD, has paid tribute to Mafatlal Mehta, the founder of the Jayam/Paras group of companies, who died in Antwerp yesterday (Wednesday) at the age of 88.

Born in 1917, Mehta entered the diamond industry at the age of 16 when he joined his elder brother in the family business in Mumbai. He took over the management of the firm at age 22, upon the death of his brother, slowly building it into one of the country’s most important diamond businesses.

In 1959, he relocated to Antwerp, where, together with his son Jitu, he set up a new home and business, Jayam PVBA. Two years later, they were joined by another son, Madhu. Within just several years, the company was named a DTC Sightholder and in time it developed into one of the DTC’s three largest clients.

In 1962, Mr. Mehta established Samir Diamonds in Mumbai, which was run by his two younger sons, Ashwin and Nanu. In 1975, a New York office was opened under the name of Paras Diamonds, and it developed into the largest seller of Indian diamonds in the U.S. market. Sales offices and manufacturing facilities were established in other countries, notably Thailand and Israel. In Belgium, Jayam created one of the largest cutting facilities in the Kempen.

Mafatlal Mehta received many awards for his work both in the diamond industry and for charity including the Life Time Achievement award from the Diamond Dealers Club in New York. He attributed his sense of social awareness to his own mother and to Mother Teresa, who he said enabled his charitable ambitions to be translated into effective and practical help. When Nobel Peace Prize Laureate Mother Teresa visited Belgium, she stayed at the Mehta residence in Antwerp.

“The Belgian and Indian diamond centers together owe a great debt to Mr Mehta, who enriched both by his presence, foresight and intimate understanding of the business,” said Peter Meeus, the Managing Director of the HRD. “It is fair to state that neither of the two centers would have achieved the great heights they have, without his contribution. He was a true giant of our industry.”