Nishit Parikh is the first person of Indian origin to be elected as president of Antwerp's primary diamond industry representative body.
If anything can be said about the newly elected president of the Antwerp World Diamond Centre (AWDC), it is that he is eager to get started, Antwerp Facets writes. Nishit Parikh, born and bred in the diamond industry and better known by friends and colleagues as Bali, AWDC reports.
“It’s not only a great honour for me, but more importantly, it’s an even greater honour for the Indian community here in Antwerp. They see it as a recognition of the importance and strong position of the Indian community in the Antwerp diamond industry. Moreover, it confirms the excellent relationships between Antwerp and India. Antwerp is India’s number one supplier of rough and I firmly believe that will continue.”
Parikh has ambitious plans for Antwerp. “I see a great opportunity to help the Antwerp diamond sector move forward. Antwerp is the most important diamond centre in the world and losing market share is simply no option. I believe three things are essential: unity, transparency and efficiency. It is our mission to unify the diamond sector, to speak with one voice, to defend the interests of all who work in the diamond industry here.”
According to Parikh, diamond dealers are all too often looked upon as outsiders, and that has to change dramatically. They have to become part of the Antwerp community, part of the family. "By continuing to make our business more transparent we will gain trust, from politicians, investors, citizens. Without their trust we are nowhere,” не said.
The new AWDC President has a well-defined idea on how Antwerp can maintain its position as the world diamond centre: “We have to find ways to work more efficiently. If we look at Antwerp today, the main part of our business lies in the fact that we are the premier trading centre of the world. Obviously my main concern is to keep and expand the rough goods coming in to Antwerp. But I believe the future of Antwerp isn’t limited to being the world’s leading trade centre only. Technological innovation is high on my agenda for Antwerp. We have to make sure we keep investing in technology and research. I believe there is a scope to bring manufacturing back to Antwerp.
According to Parikh, the necessary technological progress in the diamond business is a fact. “'Antwerp has to take full advantage of the fact that we possess an important asset over other centres: we have a vast knowledge base that, combined with the right technology, can rekindle our strengths as a manufacturing hub, not just for rare and exceptional stones. From my own personal experience I think you need to have a good balance between trade and manufacturing if you want to be successful.”
There are other strengths Antwerp needs to develop further. “I think Antwerp should build up a knowledge centre where banks, investors, and people looking for market information can go to get solid data. Centralising the knowledge that is already here in Antwerp, would also make the business more transparent and more attractive for investors, new banks, and others. Let’s not forget that one of the advantages Antwerp has, compared to our competitors, is the fact that financial structures and different ways of financing are available openly,” he told.
“Efficiency also means the whole sector has to adapt to a changing business climate, whether it’s a big company or a small one. I think it is AWDC’s mission, with the support of the federations and the industry, to educate our people, to help them adapt to a modern culture of doing business, with for example the implementation of information technology, and new marketing strategies.”
Parikh says he’s not the kind of person to wait and see what happens; he is ready to get started fast. “If I believe in something, I’ll put my heart and soul into it. I wanted to be a candidate for the AWDC board because I’m convinced it is time for a new generation and a fresh look to help Antwerp move forward.”
"Different backgrounds mean different opinions, and that is exactly what we need. But that doesn’t mean it’s ‘out with the old and in with the new’ at all. We will always need the elders to guide us in the right direction, as mentors. I’m not saying I will agree with them on everything, but I deeply respect them and value their experience. I think the young generation has to do the work, while the older generation monitors.”
Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels
