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Shantilal Ghelabhai Jhaveri (1917-1991)

Shantilal Ghelabhai Jhaveri, who was known popularly as S.G. Jhaveri, was the second generation of the family to enter the diamond business. After joining the family business, he became a popular figure in the trade.


A nationalist to the core and a visionary at heart, he was a persistent champion of the issues of the trade, and was well known for his independent outlook and outspokenness. In 1957, he was made Secretary to the First All India Jewellers' Convention.


In 1964, Mr. Jhaveri founded a new company, London Star Diamond Co. (India) Pvt. Ltd., which was one of the first Pvt Ltd companies in the diamond trade, with foreign collaboration.


He was instrumental in arranging supply of rough diamonds from Star Diamond Group to MMTC for sale in India to local manufacturers, during the period of canalization of import of rough diamonds.


Mr. Jhaveri was twice elected as Chairman of The Gem and Jewellery Export Promotion Council.  He was also President of Diamond Exporters' Association for over a decade. He was Vice President of Bharat Diamond Bourse since its inception and was instrumental in establishing the present Customs Clearance Center at Diamond Plaza, Lamington Road, Mumbai.


His most noteworthy contribution is the Multi-Rate Import Replenishment Scheme, which was in existence from 1972 to 2001 and was a crucial force in driving the stupendous growth in the export of polished diamonds. He was the leader of the first ever Technical Delegation sponsored by The Gem and Jewellery Export Promotion  Council in 1974.


In 1986, the Indian Diamond and Colorstone Association Inc., New York bestowed  one of its highest honours on Mr. Jhaveri in appreciation of his all round  services and special contribution to the promotion of Indian cut diamonds in the USA.


Mr. Jhaveri was one of the first to moot the setting up a diamond bourse in India way back in 1976. He along with Mr. Ratilal B. Jasani and others came together to form the “Shukramani Bhavan” for this purpose. He had worked for setting up the Bourse for a number of years till his demise in January 1991. It was his efforts and far sightedness that finally resulted in the formation of the Bharat Diamond Bourse in 1984 and the allocation of land at Bandra Kurla for the project.

Mr. Jhaveri passed away in 1991.

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