Foot soldiers of gems trade ferrying precious cargo lose ground to courier companies

MUMBAI: Courier boys or angadias, the mainstay of the diamond trade in transporting packages worth millions, are running out of business. Their informal promissory notes or chittis which carried the imprint of each transaction for generations, have ceased to exist. And trust, which was the underlying hallmark of these timely deliveries, has been overtaken by cheaper alternatives.
Diamond merchants would liken the angadias to the Indian Postal Service, both in its vagaries and its reach. However, the new courier companies __ at least half-a-dozen of them __ are seen to have an edge over them; they not only offer cheaper service but also insure the goods being transported.
“A lot has changed after demonetisation. Regularization of the diamond business and the expansion across geographies were the major reasons that made the angadias redundant, at least for large business houses and those based in cities,” said Ashok Gajera, managing director of Laxmi Diamonds, which has a chain of jewellery showrooms. The company that is in its 50th year of existence has depended hugely on angadias since its founding. “But today, you will not see a single angadia in any of our offices.”
New courier services specializing in the critical logistics of high-end goods, called precious cargo in industry parlance, have taken over. As Sanjay Shah, president of Jewel Maker Welfare Association, said, “With their global reach, I can send my raw diamonds, finished jewellery anywhere in the world. Whether I am participating in an exhibition or wrapping up from one, I know my goods will be transported with insurance cover from door-to-door.”
Unlike angadias who move around anonymously, travelling by Gujarat Mail with diamond packets worth crores in hidden pockets sewn into the inside of their shirts, courier companies have strong vans, like those used by banks and government treasury. Again, while the angadias carry stones tightly wrapped in chits bearing the name and address of every recipient in code language, the logistics companies have detailed paperwork with the specifics of the company the package has to be delivered to, with a tracking mechanism.
“The gems and jewellery industry is coming out from the shadow of the angadias,” said Vipul Shah, vice chairman of India’s Gem and Jewellery Export Promotion Council. “The sector is working hard to become entirely organised.” Several angadia that TOI spoke to agreed that their trade has been impacted because of new entrants in the logistics business. “There was once a time when we charged large diamond merchants a percentage of the value of the goods we transported. Today, we are only delivering in the smaller towns of India. Business has shrunk,” said one angadia who runs out of the BKC diamond bourse.
Most angadia firms in Mumbai were located in Bhuleshwar and Opera House in South Mumbai, and Malad in the suburbs. When diamond traders shifted to the Bharat Diamond Bourse in BKC, the couriers were reluctant to follow them. Realising that they were crucial to the trade, the bourse promptly offered them space at a nominal charge.
But their heydays are now gone. Many have shut shop in Mumbai, some are exploring other businesses. A few are re-inventing themselves. “Our value proposition is steadfast. We are capable of running a trustworthy business. We will find our place,” said the son of a top angadia.