Aman Nath

AMAN NATH (AN) interviews
YOGENDRA DURLABHJI (YD)
for Delhi Times, New Delhi at the Oberoi
at an exclusive private viewing of his gems
on Friday, 28th October, 1994

AN: What is it that makes emeralds unique?
YD: Emeralds are unique because of their colour, lustre, purity and cut. They also contain ‘jardin’ which, to the common man, means inclusions. The ‘jardin’ is what distinguishes the emeralds from glass, and thus contributes to its uniqueness.

AN: But why does the world make such a fuss about diamonds?
YD: Yes, everybody makes a fuss about diamonds, and for that we have to be grateful to De Beers, who have spent millions of dollars to promote and advertise diamonds. Also, De Beers have closely monitored the sale of diamonds internationally. They control the entire network, from production to sales. They can withdraw or release diamonds whenever they wish.
The coloured stones’ industry is not controlled by a monolithic group but by several competitors who are, forever, gunning for one another. There is no way that they can all come together and promote emeralds in the fashion that the De Beers group has promoted diamonds.

AN: As a Durlabhji, can you briefly tell why emeralds have always caught the fancy of emperors, and now of the rich and famous?
YD: Because emeralds possess a beauty of their own. Their uniqueness stems from their colour, and makes them worth possessing. Our family has supplied fine emeralds to the top jewellers in the world. The Durlabhji emeralds have found their way to Tiffany, Cartier, Bulgari, Boucheron, Van Cleef and Arpels, Harry Winston, etc.

AN: And what do they seek from India that the world cannot offer them?
YD: People come to India for emeralds that they cannot find anywhere else in the world. India still possesses a large reservoir of priceless emeralds which are either with the Maharajas or with the jewellers who represent the Maharaja’s interests. The craftsmanship of India is greatly appreciated all over the world. All other countries are infants compared to India. They may have the most advanced technology and the most sophisticated machines but their craftsmen do not posses the feel for emeralds that Indian craftsmen do. I can say with conviction that the best Indian craftsmen today understand emeralds much more than most top jewellers anywhere in the world.

AN: Are we competitive on prices too?
YD: Our pricing structure is extremely competitive because Jaipur is the mandi (world centre) for emeralds. Generations of craftsmen have hewn emeralds from the rough, and continue to do so today. The price varies from Re. 1 a carat to $ 100,000 a carat. Each special emerald thus created is a piece of art, very much like a fine painting or a beautiful sculpture. Human labour in India is still cheaper than the machines in Tel Aviv.

AN: Isn’t that still too expensive for the rupee earners?
YD: There is a myth that Indians cannot afford fine emeralds or fine jewellery. This is completely untrue today. If I had trusted and reliable girls to represent me in major cities like Mumbai, Delhi, Kolkata, Madras, Bangalore, Hyderabad, etc., I would happily stop all exports. You must realise that the scenario in India has changed radically. Earlier, there were only two leading families in the country viz., Tatas and Birlas. Today, there are several hundred, with five to 10 smaller units in each family. This list is ever-expanding. Even if I pull out all the stops, and use all my resources, I will not be able to cater to all the potential buyers that exist in Indian society today.

AN: What are the hallmarks of the best emeralds?
YD: The hallmarks of the best emeralds are deep green colour (like the Sandwana emeralds) or a yellow green colour (like the Colombian emeralds) and the purity, lack of inclusion and, most importantly, the cut.

AN: Do you want to talk about the most fabulous stones your family has handled?
YD: It would not be discreet on my part to talk about them. The ethics of our trade also demands that we do not disclose the names of our buyers.

AN: Are mounted emeralds more popular in India than loose stones and cabochons?
YD: Of late, fashions have changed, and people who used to prefer loose stones earlier are no longer interested in working with designers and manufactures of jewellery. Internationally, too, people prefer mounted jewellery, and stone dealers who have made a quantum leap from gems to jewellery have stolen a march over their rivals.

AN: The Ambassador of Colombia told me of new emerald mines that they have discovered with the promise of great emeralds. What could this do to the market?
YD: For the time being, there is a tremendous drop in the prices of Colombian emeralds as they are artificially treated and hence, not respected by the business community. They are considered synthetics or artificial stones because of opticon treatment that enhances their beauty temporarily; the colour and the lustre fade after some time.