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Adish shah, Chairman - Leo diamonds

by Surendra Sharma - Dec 04, 2020
Adish shah, Chairman - Leo diamonds, Interview, KonexioNetwork.com

Adish Shah is a Graduate from Mumbai University and today is a familiar name in the Diamond Industry. He has been closely associated with majority of the Diamond Companies. Despite being born with a golden spoon, he is a very humble and down to earth person. He started his carrier by working with his father and later he started Leo Diamonds.

Leo Diamonds is founded by Adish Shah, it’s a 100% export house. They are exporter of Polished Diamonds to Middle East and Hongkong and also in other part of the world. They are today working with all types of Diamond and stones which is upto 10 Carats. Their Headquarter is in Prasad Chamber, Mumbai.

Further find below excerpts of our conversation with him with regards to growth and new developments of his venture Leo Diamonds.

How the markets for rough and polished diamonds would fare in the ensuing Samvat year 2077? 

After the price revision in the rough diamond market there was an increased demand in the market. 

There were slight changes in prices and also a shortage of polished goods in the market.

Are the domestic and international markets for rough and polished diamonds finally coming out of the financial effects of Covid-19?

Revenue of India’s diamond polishing industry is set to plunge in the fiscal year 2021 to decade low of $13-15billion compared to the $24 billion in the fiscal year 2019.

Exports to other markets have suffered too. In hongkong and china demand for luxury goods such as diamonds, jewellery and watches was estimated to have $ 2-3billion.
Do you think the strategies adopted by mining companies to overcome the financial implications of the Covid-19 situation have worked in favour of the markets and the consumers?

The revenue of Rough diamonds are expected to fall by 30-40%. The mining companies are excepted to start recovering gradually from the second half of this year as jewellers and polishers resume the respective operations. Global rough diamonds demands will be growing around 20-25% in 2021.

Which types of diamonds have higher demands in Indian markets and in major international markets?

There is a particular demand for diamonds quality like Si-1 – I-2 are selling in quite pace as consumers prefer budget Jewellery.

What are your expectations on the demand for diamonds and jewellery during Christmas season?

Christmas has been a major occasion for gem and jewellery exporters and this time, the demand is crucial because of the slow growth seen so far in the current financial year.

In the first 7 months of 2018-2019 exports were 18% up.

The jewellery retail sales in the US are quite robust at the moment and we are expecting business during Christmas this year. However, the European and the middle east markets appear to be slightly soft and challenging. The Jewellery market has recorded a positive growth of 8%  for the diamond jewellery and 44% for the gold jewellery during the current financial  year.

Tell us something About Gold and its future?

India is one of the world’s largest markets for gold, as the precious metal has always been revered and considered auspicious. A symbol of affluence and prosperity, gold is deeply entrenched in India’s cultural heritage. While the gold market was briefly plunged at the start of the year with the imposed lockdown, the demand for gold has seen an upswing across the globe since the onset of the pandemic. And it is expected to pick up as the festive season begins, since gold demand is likely to play an integral part in India’s economic revival.

Since gold has always been a reliable ally during financial hardships and is less volatile as an asset, gold is considered a low-risk, safe investment option—especially during  uncertain times—as compared to other investments such as stocks. For gold to be purchased for investment purposes, there is no right or wrong time. Experts believe that every investor should have some gold in their portfolio. Gold consumption is primarily driven by need, be it weddings or religious functions, but seeing how global economies have come to a standstill this year, it is even more imperative to enter this asset class now and add gold to your investment profile.