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companies. This process of sustainability takes time and engagement with all stakeholders is key to progress.
As for the diamond industry, I don't think it's about being behind. I believe it's about an evolving, maturing process. We have come a long way and we are moving forward step by step. We should not forget that many of the businesses in this industry are family businesses that already are working hard to see to it that the next generation can take over. That attitude reflects a long-term vision and contributes to sustainability, but I do believe an extra gear is needed.
The establishment of the Responsible Jewellery Council (RJC) is an excellent step, but more cooperation is needed at every level within the industry. We can still avoid duplication in auditing practices. Many of us are using the same subcontractors and together we can encourage our supply chain to move forward. An example in this area is the implementation of the Dodd-Frank Act (14). More and more customers and sup- pliers are working intensively together. Our industry is based on trust and we need to protect our reputation at all times.
It is my firm conviction that a sustainable diamond industry leads to strengthening our competitive advantage in comparison to other choices consumers can make. Business-driven corporate sustainability can help stimulate consumer demand.
Your CSR strategy is focused on prioritizing a children's rights perspective? Has this been a strategic step or are you driven by philanthropy?
Let me take you back to the year 1933 when my father was born in a small town Patan, in the State of Gujarat. Like many of India's children, his life was far from divine. His mom passed away when he was 2 years old, 3 years later he lost his dad.
Survival was his only option. He could stay with a family member but as they already had a big family it was challenging to live with them, so it was decided he would go to boarding school. He disliked this boarding school so much that he started to work at a workshop of a diamantaire at the age of 14. He was working long hours for 30 cents a month while one needed 50 cents for very basic food needs. It was total exploitation. He went many days without food and beaten with a stick if he did not perform up to expectations.
I was curious. I needed to understand how he got through. So I did ask him: 'How did you manage? He responded: "I had no other choice. You need to be determined and move forward. It is about survival and hard work; to try to learn and earn a little bit more." And so he did, he developed such an expertise that other diamantaires knew that when they brought their diamonds to him, he could transform them to a beautiful polished diamond.
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