India, the world’s largest consumer of gold has created a number of rich jewellers over the years.
Take a look at India’s 10 richest jewellers…
T. S. Kalayanaraman
Net worth: $1.3 billion
T. S. Kalayanaraman, the chairman and managing director of Kalyan Jewellers is the richest among jewelers in India, according to a Wealth-X list of India's wealthiest jewellers.
Kalayanaraman opened his first jewellery shop in Thrissur, Kerala in 1993 with just $100,000. The company has seen a meteoric rise with 83 showrooms across India and abroad.
Net worth: $1.1 billion
Nirav Modi is the founder and chairman of Firestar Diamonds.
From a modest beginning, with just 15 employees, Firestar is now a 1200-person-strong global enterprise.
A diamond necklace designed by Modi fetched $3.56 million at a Christie’s auction in Hong Kong.
M. P. Ahammed
Net worth: $1 billion
M. P. Ahammed is the chairman Malabar Gold & Diamonds.
Established in 1993 in Kerala, Malabar Gold & Diamonds has 134 outlets across eight countries.
With an annual turnover of $3.5 billion, the company is among the world’s top five jewellery retailers in terms of annual turnover, says the company.
Net worth: $620 million
B. Govindan is the chairman of Bhima Jewellers.
Bhima Jewellery was the first to open a retail outlet in Kerala in 1925.
Today the company has showrooms across Kerala, Tamil Nadu and Karnataka.
Vallabhbhai S Patel
Net worth: $590 million
Vallabhbhai S Patel is the co-founder of Kiran Gems, one of the world’s largest manufacturers of diamonds.
Patel has over four decades of experience in procurement of rough diamonds, manufacturing techniques and technology.
Net worth: $580 million
Vasant Gajera started off his business on a small scale in Surat in 1972 with just four polishing wheels.
Gajera scripted a success story building a company that employs over 5,000 people and is one of the major manufacturers and distributors of polished diamonds.
Net worth: $480 million
Laljibhai Patel heads Dharmanandan Diamonds, one of the top diamond companies with over 2 decades of experience in the jewellery business.
Net worth: $470 million
Babubhai Lakhani is the co-founder of Kiran Gems with over four decades of experience in rough procurement of diamonds and factory management.
Mavji Bhai Patel
Net worth: $410 million
Co-founder of Kiran Gems, Mavji Bhai Patel has expertise in finance, marketing strategies and distribution of loose diamonds and diamond jewelry in the international market.
Net worth: $310 million
Rajesh Mehta is the executive chairman of Rajesh Exports, based in Bangalore.
Established in 1990, REL began operations as a gold jewellery manufacturing and export company.