Rosy Blue Explained

Rosy Blue is a privately owned Indian-Belgian company^{[1] [2] [3] [4]} that has interests in clean energy, media, real estate, financial services and retail. The company also trades in precious commodities, rough diamonds, manufactures and distributes polished diamonds, precious/semi-precious gems and jewellery.^{[5] [6]}

The company is one of the largest diamond and gemstone traders worldwide^[7] and has 12 offices in seven countries around the world: Belgium, Israel, Hong Kong, Japan, United States, China, UAE (Dubai).^{[8] [9]} Russell Mehta is the current chairman and managing director.^[10]

Rosy Blue^[11] is a De Beers sightholder.

History

The company was founded in 1960 by Arunkumar Mehta and his cousin Bhanuchandra Bhansali. In the 70’s the company headquartered in Antwerp, Belgium and expanded its operations to several other diamond centers.^{[12] [13]}

In 2005 Rosy Blue became a founding and certified member of the Responsible Jewellery Council.^{[14] [15]}

In 2008 Rosy Blue became a signatory to the United Nations Global Compact.^[16]

In 2017, Rosy Blue was named in both Panama Papers and Paradise Papers as an entity which transferred money to safe havens to avoid taxes in the country.^[17]

Notes and References

1. Web site: What happened when a 3M diamond met its holographic counterpart - Seenspire. 26 September 2016.
2. News: Rosy Blue rules the world of glitter. Pallavi. Aiyar. Business Standard India. 8 November 2009. Business Standard.
3. Web site: ALROSA tied up new long-term agreement with Rosy Blue - Alrosa. eng.alrosa.ru.
4. Web site: Gulf Industry Online - Rosy Blue partners Al Zain. www.gulfindustryonline.com.
5. Web site: Rosy Blue NV: Private Company Information - Bloomberg. www.bloomberg.com.
6. Web site: Rosy Blue 'Shocked' By Belgian Reports About CEO Dilip Mehta. www.idexonline.com.
7. Web site: Rosy blue also in HSBC list: Diamond dealers are tax haven's best friends. 6 April 2016.
8. Web site: Rosy Blue NV (SH). www.debeersgroup.com.
9. Web site: Karaattaks geschenk voor staatskas. 10 December 2016.
10. Web site: RapNet.com - Rosy Blue Expands Cutting Operations in S.A.. member.rapnet.com.
11. Web site: Rosy Blue - More than diamonds. Rosy Blue. 23 March 2018.
12. Web site: Rosy Blue N.V. - Dictionary definition of Rosy Blue N.V. - Encyclopedia.com: FREE online dictionary. www.encyclopedia.com.
13. Web site: India's six diamond kings: Six entrepreneurs minting money in Rs 70,000 crore industry - India's diamond kings: Six entrepreneurs minting money in Rs 70,000 crore industry. The Economic Times.
14. Web site: Rosy Blue N.V - Responsible Jewellery Council. www.responsiblejewellery.com.
15. Web site: First Children's Rights and Business Principles Forum in Belgium. 5 December 2012.
16. Web site: Rosy Blue - UN Global Compact. www.unglobalcompact.org.
17. Web site: Paradise Papers: On all black money lists, leading diamond firm Rosy Blue is back. 8 November 2017.