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Unifying The Gems & Jewellery Sector

Monday, April 16, 2018

Manoj Kumar Jha, Director, GJC (All India Gems & Jewellery Domestic Council) and Convenor-Manthan 2018

Manoj Kumar Jha is the Director at GJC (All India Gems & Jewellery Domestic Council) and the Convenor of the recently held Manthan 2018. GJC has set the 2025 Growth Vision for India’s gems & jewellery sector of USD 100 bn and plans to add 2 million more jobs in the sector. In conversation with Dominic Rebello, Manoj talks about Manthan 2018, and how GJC  seeks to ignite the gems and jewellery industry to transform businesses and double earnings in the next five years.

Why was Manthan Conclave 2018 conceived for the gems & jewellery sector?
Year 2018 witnessed a lot of disruption in the gems & jewellery sector bringing a new set of challenges. Majority of the sector moving towards compliance and needs guidance, support and counseling. As the apex body, GJC had been facilitating a series of initiatives such as Labham, an educational programme on Best Business Practices and Compliance, this initiative is spearheaded by our Immediate Past Chairman G.V. Sreedhar & myself, reaching PAN India. GJC had to take the lead in showing them a positive ray of hope in the new year and that’s how Manthan 2018 was conceived. I took the responsibility of fulfilling our Chairman Nitin Khandelwal’s & GJC’s Board vision of a first-ever milestone event in the history of Indian gems and jewellery sector. The intent is to give exposure to participating jewellers to some of the best minds in Indian entrepreneurship, corporate India and achievers from various walks of life such as Vivek Chaand Sehgal (Chairman and co-founder Samvardhana Motherson Group), Industrialists Suresh Narayanan (CMD, Nestle), Saurav Ganguly (legendary cricketer), Shriprakash Shukla (President Group Strategy and CBO, Mahindra & Mahindra group), M. P. Ahammed (Chairman, Malabar Gold & Diamond) and Asher O. (MD, Malabar Gold & Diamond), P.R. Ramesh, Chairman, Deloittee amongst others.

What were the highlights and successes of Manthan 2018?
Jewellers from all corners of the country gave it a rousing reception and participated wholeheartedly. Industry captains from all walks of life came forward and presented pearls of wisdom to the jeweller fraternity.

Timed just before Akshaya Tritiya 2018, Manthan 2018 unified the gems & jewellery (G&J) sector like never before with 1,000+ top entrepreneurs, promoters, CXOs, aspirants and students spending 2 full days discussing, deliberating and debating the future of G&J business learning from the best and most inspirational business leaders of Corporate India and achievers from other realms.

With Manthan 2018, our Chairman launched our Vision 2025 program for an indigenous gems & jewellery sector sized at USD 100 billion in sync with our Prime Minister’s Vision of promoting Indian handcrafted jewellery and designs. India’s gems and jewellery business is a sterling example of Make-in-India contributing around 7% of the country’s GDP. The sector provides jobs to more than 46 lakh people of the country, thus making significant contribution to the country’s socio-economic framework. GJC has a roadmap for adding 2 million (20 lakh) new jobs in the gems & jewellery sector including 40% of the new jobs for women.

GJC’s Manthan 2018 conclave turned to be one of its kind initiative for the benefit of the Gems and jewellery industry. Participants learnt the insights about how to grow business while learning the ways and means to implement and successfully execute it to earn multiple benefits. It has become an annual platform for knowledge sharing and the flagship event will help in promoting a common platform to share expertise & knowledge. The conclave set the 2025 Growth Vision for India’s gems & jewellery sector, a one-of-its-kind initiative, which will provide insights to jewellers about how to grow their diverse businesses in a sustainable manner; implement and successfully execute their strategies to earn multiple benefits.

GJC has achieved the unthinkable and the unimaginable! Special heartfelt gratitude to all attendees and participating speakers including legendary stalwarts and iconic doyens of the Indian G&J sector and distinguished speakers from 12 different industries! We are proud that we DREAMT about it and DID it!”

What were the major learnings for jewellers from the speakers at Manthan 2018?
Vivek Chaand Sehgal showed the way for Indian entrepreneurs to have global aspirations. His Motherson philosophy of 'Top line is vanity; Bottom line is sanity; Cash in bank is reality.’ stuck the right chord. Suresh Narayanan clearly mentioned that the biggest challenge during a management crisis is who will say what about us – highlighting the importance of reputation. He also mentioned that crisis is an opportunity.

Saurav Ganguly set the tone with an extempore straight from the heart speech where he advocated the importance of having single minded focus, grit, dedication and determination as an individual and how team work and team spirit is important to win challenging battles. He also emphasized the importance of taking risks in order to succeed in the long run.

Will Manthan be an annual event? How will you make it bigger and better than its first edition?
Yes. Manthan Gems & Jewellery Conclave will be an annual event and it will become bigger and better with every passing year. It will be as popular as some of the other intellectual properties of GJC such as PMI, NJA Awards, GJF Nites, Labham, Abushanam, etc.

GJC has also been serving as a bridge between the Government and the trade, and undertaking various initiatives on behalf of and for the industry. Through Manthan 2018, GJC also seeks to ignite the gems and jewellery industry to transform businesses and double earnings in the next five years.

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