For , the self-made millionaire jewellery connoisseur, the trick for growth of the gems & jewelry industry now lies in professional management.
Last month, when Bamalwa became the chairman of the All India Gems & Jewelry Trade Federation, he already had 27 years of experience in the business behind him. He had transformed Nemichand Bamalwa, a Kolkata-based jewellery retail company into a Rs 400-crore business and pioneered the 22/22 method of gold jewellery creation, an industry norm now.
The 22/22 method created a 10 per cent difference in cost and value, harmonising the two variables into the 22-carat mould.
Bamalwa who completed his graduation in science from Kolkata-based Scottish Church College, enjoys watching cricket and is a skilled badminton player.
“The industry — 300,000 jewellers with a turnover of Rs 2 lakh crore — is weakened primarily by the fact that it is unorganised. Teamwork and professionalism will be the key to doubling the combined turnover within four years,” he explains.
