Editor’s Note
This article profiles Russell Mehta, managing director of global diamond giant Rosy Blue and father-in-law to Akash Ambani, offering a glimpse into the family ties connecting two of India’s most prominent business dynasties.
Meet Russell Mehta, the father of Shloka Mehta (wife of Akash Ambani) and thus the ‘samdhi’ (in-law) of billionaire Mukesh Ambani. He is the managing director of Rosy Blue, one of the world’s largest diamond manufacturing and trading companies.
The Mehta family’s diamond business, with its operational headquarters in Mumbai, is a global powerhouse. Rosy Blue has a significant presence across key diamond centers including Antwerp, Mumbai, Dubai, New York, and Hong Kong. The company’s annual turnover runs into billions of dollars, contributing substantially to India’s position as a global leader in diamond processing.
Russell Mehta inherited and expanded a legacy business founded by his father, the late Mahendra Mehta. The journey to becoming a ‘diamond king’ involved deep industry knowledge, strategic global expansion, and navigating the complex, high-value world of international diamond trade. The family’s net worth is estimated to be in the multi-thousand crore range (tens of billions of INR).
The article underscores Mumbai’s pivotal role in the global diamond industry. The city’s diamond district is a crucial hub for cutting, polishing, and trading, with businesses like Rosy Blue forming its backbone. This connects directly to the user’s search for a ‘Mumbai diamond trade report,’ highlighting a key player and family in that ecosystem.