NSE MD & CEO Vikram Limaye recommends Technology adoption, market development & compliance as key mantras for jewellers at Manthan Gem & Jewellery transformational conclave
Bankers not averse to financing G&J businesses: Union Bank Chairman
Mumbai, 02 July 2019: Customer first! Values! Culture! Compliance! Technology adoption!
Market development! These were the keywords used by prominent speakers from corporate India during the first day of the Gem & Jewellery Industry’s most sought-after transformational conclave Manthan 2019.
All India Gem & Jewellery Domestic Council (GJC), presents its flagship event promoting a common platform to share expertise & knowledge – Manthan Gems & Jewellery Conclave 2019 on 2-3 July at Hotel Sahara Star, Mumbai. Manthan 2019, an Initiative by GJC (All India Gem & Jewellery Domestic Council) will witness over a 1,000+ attendees, Presented by NSE, Powered by World Gold Council and Supported by Forevermark, Logistics Partner BVC Logistics, Laboratory Partner GIA, Jewellery Partner Shineshilpi, Software Partner Acme
Infinity, Solitaire Partner Divine Solitaire.
Speaking about how to create a world-class institution, Mr. Vikram Limaye, MD & CEO, NSE, said that NSE overcame several challenges by the adoption of technology, focus on the customer, compliance and strong market development. He mentioned that these are relevant to jewelers too. He also mentioned that NSE is keen to develop a Gold Spot Exchange with the right structure. In an interactive session with Mr. Shankar Sen (Vice Chairman, GJC), he also mentioned that commodity exchange needs to have more participation from all key stakeholders.
Mr. Kewal Handa, Chairman, Union Bank of India, said that bankers are not averse to lending to jewelers. Trust & Transparency is the key – he said. He said that the gems & jewelry sector should take inspiration from other industries such as the pharmaceuticals industry, which reformed themselves and set up systems and processes for getting more organized. Biju Patnaik, EVP, IndusInd Bank, said that gems & jewelry business funding is complex. The primary collateral is stock and it is more about inventory financing as the collaterals are moving stock – don’t remain with the lender.
Mr. Anantha Padmanaban, Chairman, GJC, said, “Inspirational leaders from corporate India reinforced that customer is always right. Anything is possible for jewelers if they conform to their family values and traditional business practices while incorporating change management of the present for a better future. Manthan is the churning of thoughts, vision, and insights, which will result in a new mindset, mission, and ethos. Manthan led to a lot of self-belief, self-confidence, and self-worth amongst jewelers leading to believe in ‘Whatever It Takes’ motto for being successful in business despite all odds.”
Mr. Somasundaram PR, MD, World Gold Council, hailed Manthan by saying that it is a great a platform that should be extended throughout the year rather than just a 2-3 days conclave once every year.
Thanking Manthan attendees, Mr. Manoj Kumar Jha, Convener-Manthan, GJC, said, “Manthan, a thought-provoking initiative of GJC, is organized in pursuit of the eternal quest for knowledge. We learn from it every year. The purpose of this powerful knowledge sharing the platform is to promote learning and gain insights from industry professionals with diverse backgrounds and skill set to spread across different industries.”
Manthan 2019 raised the diversity bar higher with inspirational and transformational leaders. Mr. Sunil Dutt (President, Reliance Jio), Mr. Mahesh Gupta (MD, Kent), Mr. Dhimant Bakshi (MD, Adlabs Entertainment), Mr. J. Muruga (CEO, BharatMatrimony), Mr. Vikram Mehra (MD, saregama), Mr. Kewal Handa (Chairman, Union Bank of India), Mr. Pravin Jadhav, (Director, PayTM), Mr. Vikramaditya Khichi (ED, Bank of Baroda), Mr. Rishi Darda (Joint MD, Lokmat), Mr. Prabhajit Sarkar (MD, Power Exchange of India Ltd), Mr. Ajithkumar Vasudevan (MD, Kerala Rail Development), Mr. Bhaskar Ramesh (Youtube & Brand Advertising), Dr. Ananta Singh Raghuvanshi (Sr Director, DAMAC), Mr. K.V. Sridhar (Founder & CCO Hypercollective), Ms. Kaacon Shethi (CMO, DB Group), Mr. Arjun Vardaraj(Workplace Wellness Consultant, Six Senses Hotels Resorts Spa), Mr. Ramesh Nair (CEO & Country Head, JLL), etc. Star speakers from the gems & jewelry sector include: Mr. Pramod Kumar Agrawal (Chairman, Gem & Jewellery Export Promotion Council), Mr. Asher O. (MD, Malabar Gold), Mr. Gaurav Singh Kushwala (Founder & CEO, Bluestone), Mr. Saurabh Gadgil (CMD, PNG Jewellers), Mr. Ashish Pethe (Waman Hari Pethe), Mr. Nitin Khandelwal (Past Chairman, GJC), Mr. Sachin Jain (MD, Forevermark), Ms. Nirupa Bhatt (MD, GIA India and Middle East), Mr. Hardik Parekh (Parekh Jewellers), Mr. Amish Shah (President, ALTR), Mr. Jignesh Mehta (MD, Divine Solitaires), Mr. Chirag Sheth (Metal Focus), Mr. Prithviraj Kothari (National President, IBJA), Dr. Rajendra Bhola (MD – Bholasons Jewellers), Mr. Suvankar Sen (Executive Director, Senco Gold), etc.
Last year, Manthan 2018 was the first-ever milestone event in the history of Indian gems and jewelry sector. In its second year, the needle moves a notch higher to the next paradigm, as this year speakers from more than 27 industries will be present in Manthan 2019, a great opportunity to listen to Stalwart speakers from various Industries, which will also, be translated live in the Hindi language for the convenience of the invitees.
The All India Gem and Jewellery Domestic Council (GJC) represents over 6,00,000 players comprising manufacturers, wholesalers, retailers, distributors, laboratories, gemologists, designers and allied services to the domestic Gems & Jewellery industry. The Council functions with the objective to address the industry, its functioning and its cause with a 360° approach to promote and progress its growth, while protecting the industry’s interests. GJC, since the last 14 years, has been serving as a bridge between the government and the trade by undertaking various initiatives on behalf of and for the industry. GJC represents the interests of over 6 lakh gem and jewelry businesses from across the country.