Home Trade industry Govind Dholakia: How Diamond Baron Govind Dholakia got Rs 920 for the first exchange!

Govind Dholakia: How Diamond Baron Govind Dholakia got Rs 920 for the first exchange!

Diamond tycoon Govind Dholakia has posted a tongue-in-cheek account of his life journey, recounting how he built a billion dollar business and providing nuggets of information including how he arranged Rs 920 for the first trade of his life. The autobiography “Diamonds Are Forever, So Are Morals”, told to APJ Abdul Kalam’s “Wings of Fire” co-writer Arun Tiwari and Dholakia’s assistant Kamlesh Yagnik, is published by Penguin Enterprise.

Dholakia, founder and chairman of the diamond manufacturing and exporting company Shree Ramkrishna Exports Pvt.Ltd., strongly believes that high morals and values ​​have been instrumental in helping him make the right decisions in life.

His book also tells how he has an inclination towards spiritual well-being. Her memoir can also be described as a subtle balance between her spiritual self and her karma.

It was on the last Sunday of January 1970, after visiting a store reading crystal balls, that Dholakia decided to start his own business – dealing with rough diamonds 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 This meant Rs 910 and a brokerage of Rs 10 had to be added.”

Dholakia only had Rs 500 and was told to donate the remaining amount after returning home.

“The problem was that there was no money at home. Everything I had with me was in my pocket. However, I didn’t want to miss the chance. So I quickly made the payment of Rs 500,” recalls Dholakia.

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

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

Dholakia then went to pay the rest Rs 420 and made the first trade of his life.

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

Dholakia regarded diamonds as God.

“I realized that harnessing the true potential of a diamond was not just 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 training to acquire, but the scientific part remained an enigma for most workers,” he says.