How diamond baron Govind Dholakia got Rs 920 from his first trade


Diamond tycoon Govind Dholakia has come out with a tongue-in-cheek account of his journey of life, recalling how he created a billion-dollar company and providing nuggets of information including how he arranged Rs 920 for the first trade of his life.

The , Are Forever, So Are Morals”, as told to APJ Abdul Kalam’s “Wings of Fire” co-author Arun Tiwari and Dholakia’s aide Kamlesh Yagnik, is published by Penguin Enterprise.

Dholakia, founder and chairman of diamond manufacturing and exporting company Shree Ramkrishna Exports Pvt.Ltd., strongly believes that high morals and values ??helped him largely in making the right decisions in life.

His book also tells how he has an inclination towards spiritual wellbeing. His memoir can also be described as a fine balance between his spiritual self and his karma.

It was on the last Sunday of January 1970 after he went to a crystal ball reading shop that Dholakia decided to start his own business – dealing with rough

and polishing them.

Recalling his first trade, he says, “We landed at the office of Babubhai Rikhavchand Doshi and Bhanubhai Chandubhai Shah. They quoted Rs 91 as the price of one carat, but a minimum purchase of ten carats had to be made. That meant Rs 910 and a brokerage of Rs 10 had to be added.”

Dholakia only had Rs 500 and was told to give the remaining amount after reaching home.

“The problem was that there was no money at home. Whatever I had with me was in my pocket. However, I did not want to miss the opportunity. Hence, I promptly made the payment of Rs 500,” Dholakia recalls.

To make the remaining payment of Rs 420, he went to his friend Virjibhai’s house.

Virjibhai promptly called his wife and asked her to give Dholakia Rs 200 that she had for the household expenses. Then Virjibhai went to his neighbor and took Rs 200 on credit. He then added Rs 20 that he had in his wallet and gave them to a much-relieved Dholakia.

Dholakia then went and paid the rest Rs 420 and made the first trade in his life.

“We sold the polished to Babubhai at 10 per cent profit after about a week. They were very happy with our work and started giving us as many roughs as we wanted,” he says.


Dholakia considered diamonds as God.

“I realized that harnessing a diamond’s true potential was not only an art, but it was also a very precise and exact science. The skills needed to be a proficient diamond cutter and polisher would take years of training to acquire but the science part remained an enigma to most of the workers,” he says.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard,

Digital Editor

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *