Address by  Shri Ashish K. Mehta of M/s. Kantilal Chhotalal and Trustee of Gemmological Institute of India

Shri Bakulbhai, Shri Pravinbhai, distinguished guest and members

I know it is not easy to fill up the absence of Arunbhai or Sanjaybhai, but nonetheless at the request of Ramchandran I will express couple of thoughts & couple of points that I have in my mind.

First of all I wish to congratulate all those students who are getting the certificates today. Wishing you all the best and I hope you will be able to succeed in your future endeavors.

I went to Gemmological Institute of America about 15 to 18 years back. Lot of people when I came back, lot of students and as well as lot of parents used to come and ask me that while being in a business does it really help to go and do a course in Gemmology and Diamond at Gemmological Institute of India.

I always felt while even in business what you do in an office, in a factory or in a business organization or in an institute like GII or GIA would compliment the best way.

What you do in the institute you don't get a chance to do in your day to day business environment and business structure and what you do in business you may not be able to do at institute, I think in that sense for those who decide to go in business it would be of great help. More so when the times are changing so fast, the technology is changing the way things are happening are changing the way we are doing the business is changing very fast in that sense I am sure, all of you will be far more equipped than those who might not have gone through the course in order to face the challenges of life.

The other thing is on this occasion I think it is historical where the trade and institute is collaborating together to set up an institute. I would like to congratulate Shri Kirtibhai, all the members of GII and other four associations of the trade. It is very historical in these times, probably our generation is going to be those who change the scene, the maximum amount of change is happening.

And in these time I think we would need to be more equipped to face the challenges only when the trade and institute collaborates and only when the business & education came together would we be able to face the challenges far more confidentially. I know more of diamonds, unfortunately I don't know more of colour stones but in diamonds we have seen in last couple of years the threats that we have seen from starting from laser fracturing, to the colouring of diamonds to the synthetic HPHT today we have or the diamond stimulants unless we are equipped as business to face these challenges we might be doing lot of harm to ourselves.

Before I go to that point there is very interesting News Week cover story if you have seen the News Week. This Week talks about 10 innovations which they think are going to change the world the number one innovation that is going to change the world they have mentioned is the synthetic diamonds. It is infact the story if not properly understood could be harmful to the trade. What it is saying is with the Apollo and the Gemesis the technology that is being developed in America there are threats that one could see to the diamond industry. I don't think there is a threat. The only thing is the moment these technology is developed our detection technology will have to be faster. The only way we can ensure these detection are faster through this collaboration are through setting up these laboratories is through putting in lot of infrastructure, lot of investment, into making sure that we are able to overcome these detections. Unless there is detection, and unless there is a proper disclosure of these detection there could be a great threat probably the threat could be of 2 kinds - one is the obvious that is the consumer may loose the confidence the moment a HPHT diamonds, the diamonds which is being colour treated is sold as a white diamond the 'D' coloured internally flawless diamond & the consumer finds out later that he probably over paid 5 times to 10 times for that diamond that there could be a loss of consumer confidence also there could be a loss of value for the stone.

If Gemesis start manufacturing coloured diamonds start putting them in a market and probably is able to market at one half the cost than we would not be able to withstand the prices that are today.

So in terms of these 2 threats the only way you can do it is through detection and the only way we could do in a very confident way is to making sure is that detection stays ahead of these technological development. I only think within India this is the only institute that can do it and this is the best collaboration that could have come between the industry and institute and let us hope that in times to come through all of you and through the institute we will always be able to always stay ahead of the technological advances that are going to come. There is no way you will be able to deny, there is no way you will be able to say that these synthetic diamonds could not be sold. They would certainly be sold, nobody is going to say that HPHT can not be sold. The only thing the trade would ask is there would have to be a disclosure, the moment, there is detection. We will not be able to prevent within India or outside the selling of these stones but we will have to make sure that there is proper disclosure and there is proper documentation of this disclosure and I hope that this partnership would play a very important role in the times to come.

Thank you,