Nitin Khandelwal’s career in the jewellery industry commenced rather unexpectedly in 1975. Those were turbulent times for the nation – a national emergency had just been imposed and the then 11-year-old Nitin’s grandfather, late Shri Shankarlal Khandelwal, a renowned jeweller in Akola and staunch RSS supporter had been jailed under MISA. As if that was not enough, the Debt Relief Act added to the business community’s woes. While his father ran from pillar to post, spiraling problems on the political and business fronts meant that Nitin Khandelwal had to step in a couple of years later to assist his father. “Those were truly tough times,” reminisces Nitin. “The jeweller community was particularly badly hit, because of the Debt Relief Act. The Marwari business community was on the verge of going back to their hometowns, and if Indira Gandhi had not lost the elections, nearly 50 per cent of jewellers would have gone bankrupt.”%% While all this turmoil meant that conventional schooling and college was somewhat out of reach for the young man, being thrown into a chaotic business and political scenario at an age when most kids are worrying about exams did nothing to faze his enthusiasm and love for learning. “I was only able to study up to the higher secondary, but that didn’t prevent me from getting an education,” he says, coming up with the first of many quotes that he is well-known for. “Eighty per cent of education is received outside the classroom.”%% A voracious reader, he says, “I used to, and still read a lot. Books that encourage out-of-the-box thinking, innovation and ideating, and those which inspire and motivate are my favorites.” Myriad books including Retire Young, Retire Rich and Rich Dad, Poor Dad by Robert Kiyosaki; Dale Carnegie’s How to Win friends and Influence People; Execution by Ram Charan; and the Management Thought series by Vijay and Pramod Batra are amongst those that influenced him tremendously. The fourth generation jeweller, also gains valuable insights from travelling.%% Nitin believes that his deep association with the industry’s trade bodies has enriched him far beyond what a regular learning system would have. “I have worked closely with all three Chairmen of the GJF. I may not have had a conventional education, but I have gained more than that in the “Ashok Minawala University”, the “Bacchraj Bamalwa University” and the “Vinod Hayagriv University”,” he says with a smile, adding that, “I truly appreciate the opportunity to have observed these men in action and understanding the factors that contribute to their growth.”%%

With such a strong trade background and learning experience to back him, today, at the age of 46, Nitin’s achievements speak for themselves. He has taken the more than eight-decade old Khandelwal Jewellers from the conventional family-run retailer to a private limited company with a 2000 sq. ft corporate office in Akola, another office in Mumbai, and multi-storeyed showrooms and retail outlets in Akola and Bilaspur, wholesale stores in Nagpur and Mumbai and manufacturing facilities in Mumbai and Akola. The company adheres to the just-in-time policy and strict inventory control. %% “I started the corporatisation and modernisation process in 1984. Today, the company runs itself thanks to the decentralisation of work and power that was initiated a few years back. From being retailers, we now have retail, wholesale and manufacturing units and are investing in and innovating a new brand of diamond jewellery in partnership in countries like India, China and Hongkong. We are also the first ISO certified jewellers of the region”, says a visibly proud Khandelwal. %% In fact, at Khandelwal Jewellers, the ‘Charity begins at home’ adage is of vital importance too. “We believe in taking very good care of our employees – education for the staff’s children, and their health and insurance expenses are all borne by us. Since our employees are happy, the attrition rate is remarkably low. Azim Premji of Wipro fame once said that running a successful company is all about ‘Quality people in the right place’, and for me, the staff’s welfare in all aspects is extremely significant – they are the most worthwhile asset that any company could have.” he explains.%% Nitin’s extensive contribution to the industry does not stop at ensuring the growth of the company. An active personality in the GJF, he is Chairman of the Fellowship Committee and the Programmes and Events Committee. Khandelwal is also the Regional Chairman for the Rest of Maharastra with the GJF, and is the President of the Preferred Manufacturers of India. Significantly, Khandelwal was instrumental in the formation of a Vigilance Committee under the aegis of the Home Ministry, which will deal with the various problems faced by jewellers. More recently, he led a GJF delegation of 66 people to Hongkong, Bangkok and China, where there were several important meetings with the Chinese Consulate, the Chamber of Commerce and important figures from the Chinese jewellery industry.%% The self-confessed multi-tasker also has several charitable initiatives to which he devotes tremendous time and energy. An active Rotarian (he has worked at practically all positions of the Rotary Club), Khandelwal is the President of the Rotary Midtown Charitable Trust. He has been instrumental in getting the Rotary Club to build more than 25 check dams; conduct camps where free polio corrective surgeries were carried out on 500 impoverished children; set up dialysis units - which were, incidentally, inaugurated by BK Birla; organized for cardiac ambulances and more. %% Khandelwal was also responsible for organising a visit of 17 Rotarians to Singapore for an International Convention where there was a stall to showcase Indian projects to the international community. He is also Vice President of the Thalessamia Society of Akola and the Vice President of the Maharashtra Rajya Saraf Maha Mandal. He is trustee of the Shikshan Prasarak Mandal run by the Khandelwal charitable trust too. This Mandal educates 7500 children across six schools and colleges. Recently, the 50-year celebration of the Mandal also saw luminary APJ Kalam gracing the occasion.%%

Which makes one wonder just how does he manage to fit in so much into the 24 hours of the day? “See, others work from 8 to 5, I work from 5 to 8. Now you do the math about the number of hours I work,” he says, tongue firmly in cheek. “Also, if I get an idea at 5:45 pm, I will start working on it at a quarter to six! I am punctual to a fault and my fetish for punctuality can be a problem for others. I strongly believe that every second in life is precious, and that is the reason I plan for the next day before sleeping at night. Moreover, I read that plan as soon as I get up. There has to be a plan and an aim for everything in life. I also delegate my work effectively – and when I delegate I do it wholeheartedly.” As he explains, with another of his quotable quotes: “If you want to see the good quality picture, you have to sit in the dark!”%% He also confesses to some excellent support as he unhesitatingly praises his younger brother Ravi. “If Ravi was not around to support me in these activities, I could not have achieved so much,” he says explaining his abilty to juggle so many tasks. %% “I am also inherently creative and always want to do things differently, however small they may be. Crisis management is one of my strong points too. I enjoy pushing my mental capabilities to the extremes as I firmly believe that ‘Karya kathin hai, isiliye karne yogya hai, saral karya toh sab hi karte hain’ (the task is worth doing because it is difficult, everyone does the simple tasks). Nothing charges me up more than a good debate or discussion – if not a jeweller, I probably would have been a lawyer! I am constantly asking questions – the whys and wherefores of everything around me is intriguing and I love getting into the details,” says the raconteur recognised for his speaking skills at various trade forums and conferences, including several important seminars of the {{GJEPC}}.%% As testimony to his hard work, the awards are aplenty. The Lucky Lakshmi Champion Award, the GJF Chairman’s Award twice in a row, a special honour for the success of the Preferred Manufacturers of India programme, Rotary International Publicity Award, recipient of the major donor pin of the Rotary Club are just a few in a long, long list of awards won by Khandelwal. A recent commendation and one that speaks volumes for his untiring efforts was for never missing a single meeting of the organisation! He also received an award for the Best Executive from the Vidarbha Chamber of Commerce in the presence of a personality who Khandelwal unabashedly admires- {{APJ Abdul Kalam}}.%% The best reward however, according to Khandelwal. However, is the friendships and goodwill generated in the industry. “I am a firm believer in the power of friendships and maintaining good, strong relationships with the people around me,” says he. “If friendship is your weakness, then you are the strongest person on this earth. Take for example, the relationships that my grandfather and father have generated. It was of great help for us when we were in trouble or when we were looking at business expansion. I can safely claim that the good and strong relations built during my forefathers’ time and also during my career so far have contributed immensely to my being able to take Khandelwal Jewellers to great heights.” %% His fondest reminisces are about political VIPs like {{LK Advani, Atal Behari Vajpayee, Nitin Gadkari, Narendra Modi}} ,the late {{Pramod Mahajan}}, who regularly visited the Khandelwal household and maintained very strong relationships with the family in general and Nitin in particular.%%

A family man to the core, he speaks lovingly of his larger family too, and considers it as his biggest asset. And though he never managed anything more than a passing grade in school, Khandelwal has made sure that his children have received the best education possible. Rather proudly, he speaks about how the kids have always scored more than 90 per cent in their exams or have read the entire encyclopedia even before they have reached their teens. %% “My father had eight brothers, and they are all in diverse businesses – we never believed in putting all our eggs in one basket,” he says. “The Khandelwal family has an involvement in every business you could think of, from grains and dal mills to electronics, farming and construction. I have two brothers who not only inspire me, but are a huge support for me, even though all of them are not in the jewellery business. ” He himself also has interests in trades other than jewellery, with plastics (injection moulding plants), sheets and bottling plants, coal washeries, a seven-acre clubhouse in Akola, and a burgeoning construction business all forming part of what is undoubtedly a very diverse portfolio and one that is testimony to his delegation skills.%% Diversification or not, Khandelwal’s first love is the jewellery trade. “There really is no business like the jewellery business,” he enthuses. “It is a prestigious, royal business, one that makes people happy, and brings in a lot of appreciation to the trader who works well here. I for one really enjoy myself!”%% A four-decade long career obviously has led to Khndelwal garnering a lot of learning and insights, all of which he is more than keen to share with the current crop of jewellers. “I am always of the opinion that one should keep an open mind – the parachute will work only when it is open, won’t it? Moreover, it is important to constantly innovate and keep making efforts towards growth,” he elaborates. “A bicycle will move forward only if you pedal! Compete if you must, but compete in terms of design, not in price. And never, ever bad mouth the competition, because talking ill about other jewellers reflects badly on the industry as a whole. Transparency is crucial – always have your policies about sales, exchange, resale et al clearly displayed in the store. Spending on advertising and marketing is important too – consider these as an investment for future growth and expansion. Inventory control is critical – your balance sheet should be in grams, not rupees! ”%% Khandelwal is also a strong supporter of the ‘United we stand, divided we fall’ maxim. “The only path to growth is by collective effort. Never hesitate to share views and ideas with colleagues. Co-operative efforts ensure that rewards increase manifold!” he says.%% More pearls of wisdom follow, “These days the family run jeweller is competing with huge corporates who have entered the jewellery segment. And to compete on an even keel, it is imperative to imbibe their work culture and principles into our business. Corporatisation at all levels is a must – and this is one investment that we just cannot ignore. From store décor, customer service, staff knowledge and courtesy to even the staff uniforms – all must be in sync with the product that we are offering the customer. I always consider that ‘The customer is the only profit we make. Keep her happy’.” Khandelwal is not one to rest on his laurels, because he himself believes that ‘Satisfaction is the death of progress’. Future plans look lofty, but knowing him and given his track record, he is probably well on his way to achieving them. “Organising the jewellery sector is top on my plans for the future. We are scattered and disorganised, and the promotion of the industry needs to be carried out as a whole.

Serious competition that has cropped up during the last decade is that from white goods – cars, mobile phones, laptops, foreign holidays – we need to promote the intrinsic value that a jewellery piece has to the customer, and the only route to doing that is corporatisation, focused marketing and proper organisation. Another dream is to bring young blood into the industry – and for that we need to make sure that the new generation should have a very positive image of the trade. And to achieve that, on the general level, we need to bring in transparency and make our children feel proud to work here.”%% Now, how many jewellers would really feel that kind of concern for the industry? Not too many, but amongst those who do, Nitin Khandelwal’s name stands out and will continue to for many more years to come.

Nitin Khandelwal’s career in the jewellery industry commenced rather unexpectedly in 1975. Those were turbulent times for the nation – a national emergency had just been imposed and the then 11-year-old Nitin’s grandfather, late Shri Shankarlal Khandelwal, a renowned jeweller in Akola and staunch RSS supporter had been jailed under MISA. As if that was not enough, the Debt Relief Act added to the business community’s woes. While his father ran from pillar to post, spiraling problems on the political and business fronts meant that Nitin Khandelwal had to step in a couple of years later to assist his father. “Those were truly tough times,” reminisces Nitin. “The jeweller community was particularly badly hit, because of the Debt Relief Act. The Marwari business community was on the verge of going back to their hometowns, and if Indira Gandhi had not lost the elections, nearly 50 per cent of jewellers would have gone bankrupt.”%% While all this turmoil meant that conventional schooling and college was somewhat out of reach for the young man, being thrown into a chaotic business and political scenario at an age when most kids are worrying about exams did nothing to faze his enthusiasm and love for learning. “I was only able to study up to the higher secondary, but that didn’t prevent me from getting an education,” he says, coming up with the first of many quotes that he is well-known for. “Eighty per cent of education is received outside the classroom.”%% A voracious reader, he says, “I used to, and still read a lot. Books that encourage out-of-the-box thinking, innovation and ideating, and those which inspire and motivate are my favorites.” Myriad books including Retire Young, Retire Rich and Rich Dad, Poor Dad by Robert Kiyosaki; Dale Carnegie’s How to Win friends and Influence People; Execution by Ram Charan; and the Management Thought series by Vijay and Pramod Batra are amongst those that influenced him tremendously. The fourth generation jeweller, also gains valuable insights from travelling.%% Nitin believes that his deep association with the industry’s trade bodies has enriched him far beyond what a regular learning system would have. “I have worked closely with all three Chairmen of the GJF. I may not have had a conventional education, but I have gained more than that in the “Ashok Minawala University”, the “Bacchraj Bamalwa University” and the “Vinod Hayagriv University”,” he says with a smile, adding that, “I truly appreciate the opportunity to have observed these men in action and understanding the factors that contribute to their growth.”%%

With such a strong trade background and learning experience to back him, today, at the age of 46, Nitin’s achievements speak for themselves. He has taken the more than eight-decade old Khandelwal Jewellers from the conventional family-run retailer to a private limited company with a 2000 sq. ft corporate office in Akola, another office in Mumbai, and multi-storeyed showrooms and retail outlets in Akola and Bilaspur, wholesale stores in Nagpur and Mumbai and manufacturing facilities in Mumbai and Akola. The company adheres to the just-in-time policy and strict inventory control. %% “I started the corporatisation and modernisation process in 1984. Today, the company runs itself thanks to the decentralisation of work and power that was initiated a few years back. From being retailers, we now have retail, wholesale and manufacturing units and are investing in and innovating a new brand of diamond jewellery in partnership in countries like India, China and Hongkong. We are also the first ISO certified jewellers of the region”, says a visibly proud Khandelwal. %% In fact, at Khandelwal Jewellers, the ‘Charity begins at home’ adage is of vital importance too. “We believe in taking very good care of our employees – education for the staff’s children, and their health and insurance expenses are all borne by us. Since our employees are happy, the attrition rate is remarkably low. Azim Premji of Wipro fame once said that running a successful company is all about ‘Quality people in the right place’, and for me, the staff’s welfare in all aspects is extremely significant – they are the most worthwhile asset that any company could have.” he explains.%% Nitin’s extensive contribution to the industry does not stop at ensuring the growth of the company. An active personality in the GJF, he is Chairman of the Fellowship Committee and the Programmes and Events Committee. Khandelwal is also the Regional Chairman for the Rest of Maharastra with the GJF, and is the President of the Preferred Manufacturers of India. Significantly, Khandelwal was instrumental in the formation of a Vigilance Committee under the aegis of the Home Ministry, which will deal with the various problems faced by jewellers. More recently, he led a GJF delegation of 66 people to Hongkong, Bangkok and China, where there were several important meetings with the Chinese Consulate, the Chamber of Commerce and important figures from the Chinese jewellery industry.%% The self-confessed multi-tasker also has several charitable initiatives to which he devotes tremendous time and energy. An active Rotarian (he has worked at practically all positions of the Rotary Club), Khandelwal is the President of the Rotary Midtown Charitable Trust. He has been instrumental in getting the Rotary Club to build more than 25 check dams; conduct camps where free polio corrective surgeries were carried out on 500 impoverished children; set up dialysis units - which were, incidentally, inaugurated by BK Birla; organized for cardiac ambulances and more. %% Khandelwal was also responsible for organising a visit of 17 Rotarians to Singapore for an International Convention where there was a stall to showcase Indian projects to the international community. He is also Vice President of the Thalessamia Society of Akola and the Vice President of the Maharashtra Rajya Saraf Maha Mandal. He is trustee of the Shikshan Prasarak Mandal run by the Khandelwal charitable trust too. This Mandal educates 7500 children across six schools and colleges. Recently, the 50-year celebration of the Mandal also saw luminary APJ Kalam gracing the occasion.%%

Which makes one wonder just how does he manage to fit in so much into the 24 hours of the day? “See, others work from 8 to 5, I work from 5 to 8. Now you do the math about the number of hours I work,” he says, tongue firmly in cheek. “Also, if I get an idea at 5:45 pm, I will start working on it at a quarter to six! I am punctual to a fault and my fetish for punctuality can be a problem for others. I strongly believe that every second in life is precious, and that is the reason I plan for the next day before sleeping at night. Moreover, I read that plan as soon as I get up. There has to be a plan and an aim for everything in life. I also delegate my work effectively – and when I delegate I do it wholeheartedly.” As he explains, with another of his quotable quotes: “If you want to see the good quality picture, you have to sit in the dark!”%% He also confesses to some excellent support as he unhesitatingly praises his younger brother Ravi. “If Ravi was not around to support me in these activities, I could not have achieved so much,” he says explaining his abilty to juggle so many tasks. %% “I am also inherently creative and always want to do things differently, however small they may be. Crisis management is one of my strong points too. I enjoy pushing my mental capabilities to the extremes as I firmly believe that ‘Karya kathin hai, isiliye karne yogya hai, saral karya toh sab hi karte hain’ (the task is worth doing because it is difficult, everyone does the simple tasks). Nothing charges me up more than a good debate or discussion – if not a jeweller, I probably would have been a lawyer! I am constantly asking questions – the whys and wherefores of everything around me is intriguing and I love getting into the details,” says the raconteur recognised for his speaking skills at various trade forums and conferences, including several important seminars of the {{GJEPC}}.%% As testimony to his hard work, the awards are aplenty. The Lucky Lakshmi Champion Award, the GJF Chairman’s Award twice in a row, a special honour for the success of the Preferred Manufacturers of India programme, Rotary International Publicity Award, recipient of the major donor pin of the Rotary Club are just a few in a long, long list of awards won by Khandelwal. A recent commendation and one that speaks volumes for his untiring efforts was for never missing a single meeting of the organisation! He also received an award for the Best Executive from the Vidarbha Chamber of Commerce in the presence of a personality who Khandelwal unabashedly admires- {{APJ Abdul Kalam}}.%% The best reward however, according to Khandelwal. However, is the friendships and goodwill generated in the industry. “I am a firm believer in the power of friendships and maintaining good, strong relationships with the people around me,” says he. “If friendship is your weakness, then you are the strongest person on this earth. Take for example, the relationships that my grandfather and father have generated. It was of great help for us when we were in trouble or when we were looking at business expansion. I can safely claim that the good and strong relations built during my forefathers’ time and also during my career so far have contributed immensely to my being able to take Khandelwal Jewellers to great heights.” %% His fondest reminisces are about political VIPs like {{LK Advani, Atal Behari Vajpayee, Nitin Gadkari, Narendra Modi}} ,the late {{Pramod Mahajan}}, who regularly visited the Khandelwal household and maintained very strong relationships with the family in general and Nitin in particular.%%

A family man to the core, he speaks lovingly of his larger family too, and considers it as his biggest asset. And though he never managed anything more than a passing grade in school, Khandelwal has made sure that his children have received the best education possible. Rather proudly, he speaks about how the kids have always scored more than 90 per cent in their exams or have read the entire encyclopedia even before they have reached their teens. %% “My father had eight brothers, and they are all in diverse businesses – we never believed in putting all our eggs in one basket,” he says. “The Khandelwal family has an involvement in every business you could think of, from grains and dal mills to electronics, farming and construction. I have two brothers who not only inspire me, but are a huge support for me, even though all of them are not in the jewellery business. ” He himself also has interests in trades other than jewellery, with plastics (injection moulding plants), sheets and bottling plants, coal washeries, a seven-acre clubhouse in Akola, and a burgeoning construction business all forming part of what is undoubtedly a very diverse portfolio and one that is testimony to his delegation skills.%% Diversification or not, Khandelwal’s first love is the jewellery trade. “There really is no business like the jewellery business,” he enthuses. “It is a prestigious, royal business, one that makes people happy, and brings in a lot of appreciation to the trader who works well here. I for one really enjoy myself!”%% A four-decade long career obviously has led to Khndelwal garnering a lot of learning and insights, all of which he is more than keen to share with the current crop of jewellers. “I am always of the opinion that one should keep an open mind – the parachute will work only when it is open, won’t it? Moreover, it is important to constantly innovate and keep making efforts towards growth,” he elaborates. “A bicycle will move forward only if you pedal! Compete if you must, but compete in terms of design, not in price. And never, ever bad mouth the competition, because talking ill about other jewellers reflects badly on the industry as a whole. Transparency is crucial – always have your policies about sales, exchange, resale et al clearly displayed in the store. Spending on advertising and marketing is important too – consider these as an investment for future growth and expansion. Inventory control is critical – your balance sheet should be in grams, not rupees! ”%% Khandelwal is also a strong supporter of the ‘United we stand, divided we fall’ maxim. “The only path to growth is by collective effort. Never hesitate to share views and ideas with colleagues. Co-operative efforts ensure that rewards increase manifold!” he says.%% More pearls of wisdom follow, “These days the family run jeweller is competing with huge corporates who have entered the jewellery segment. And to compete on an even keel, it is imperative to imbibe their work culture and principles into our business. Corporatisation at all levels is a must – and this is one investment that we just cannot ignore. From store décor, customer service, staff knowledge and courtesy to even the staff uniforms – all must be in sync with the product that we are offering the customer. I always consider that ‘The customer is the only profit we make. Keep her happy’.” Khandelwal is not one to rest on his laurels, because he himself believes that ‘Satisfaction is the death of progress’. Future plans look lofty, but knowing him and given his track record, he is probably well on his way to achieving them. “Organising the jewellery sector is top on my plans for the future. We are scattered and disorganised, and the promotion of the industry needs to be carried out as a whole.

Serious competition that has cropped up during the last decade is that from white goods – cars, mobile phones, laptops, foreign holidays – we need to promote the intrinsic value that a jewellery piece has to the customer, and the only route to doing that is corporatisation, focused marketing and proper organisation. Another dream is to bring young blood into the industry – and for that we need to make sure that the new generation should have a very positive image of the trade. And to achieve that, on the general level, we need to bring in transparency and make our children feel proud to work here.”%% Now, how many jewellers would really feel that kind of concern for the industry? Not too many, but amongst those who do, Nitin Khandelwal’s name stands out and will continue to for many more years to come.

Nitin Khandelwal’s career in the jewellery industry commenced rather unexpectedly in 1975. Those were turbulent times for the nation – a national emergency had just been imposed and the then 11-year-old Nitin’s grandfather, late Shri Shankarlal Khandelwal, a renowned jeweller in Akola and staunch RSS supporter had been jailed under MISA. As if that was not enough, the Debt Relief Act added to the business community’s woes. While his father ran from pillar to post, spiraling problems on the political and business fronts meant that Nitin Khandelwal had to step in a couple of years later to assist his father. “Those were truly tough times,” reminisces Nitin. “The jeweller community was particularly badly hit, because of the Debt Relief Act. The Marwari business community was on the verge of going back to their hometowns, and if Indira Gandhi had not lost the elections, nearly 50 per cent of jewellers would have gone bankrupt.”%% While all this turmoil meant that conventional schooling and college was somewhat out of reach for the young man, being thrown into a chaotic business and political scenario at an age when most kids are worrying about exams did nothing to faze his enthusiasm and love for learning. “I was only able to study up to the higher secondary, but that didn’t prevent me from getting an education,” he says, coming up with the first of many quotes that he is well-known for. “Eighty per cent of education is received outside the classroom.”%% A voracious reader, he says, “I used to, and still read a lot. Books that encourage out-of-the-box thinking, innovation and ideating, and those which inspire and motivate are my favorites.” Myriad books including Retire Young, Retire Rich and Rich Dad, Poor Dad by Robert Kiyosaki; Dale Carnegie’s How to Win friends and Influence People; Execution by Ram Charan; and the Management Thought series by Vijay and Pramod Batra are amongst those that influenced him tremendously. The fourth generation jeweller, also gains valuable insights from travelling.%% Nitin believes that his deep association with the industry’s trade bodies has enriched him far beyond what a regular learning system would have. “I have worked closely with all three Chairmen of the GJF. I may not have had a conventional education, but I have gained more than that in the “Ashok Minawala University”, the “Bacchraj Bamalwa University” and the “Vinod Hayagriv University”,” he says with a smile, adding that, “I truly appreciate the opportunity to have observed these men in action and understanding the factors that contribute to their growth.”%%

With such a strong trade background and learning experience to back him, today, at the age of 46, Nitin’s achievements speak for themselves. He has taken the more than eight-decade old Khandelwal Jewellers from the conventional family-run retailer to a private limited company with a 2000 sq. ft corporate office in Akola, another office in Mumbai, and multi-storeyed showrooms and retail outlets in Akola and Bilaspur, wholesale stores in Nagpur and Mumbai and manufacturing facilities in Mumbai and Akola. The company adheres to the just-in-time policy and strict inventory control. %% “I started the corporatisation and modernisation process in 1984. Today, the company runs itself thanks to the decentralisation of work and power that was initiated a few years back. From being retailers, we now have retail, wholesale and manufacturing units and are investing in and innovating a new brand of diamond jewellery in partnership in countries like India, China and Hongkong. We are also the first ISO certified jewellers of the region”, says a visibly proud Khandelwal. %% In fact, at Khandelwal Jewellers, the ‘Charity begins at home’ adage is of vital importance too. “We believe in taking very good care of our employees – education for the staff’s children, and their health and insurance expenses are all borne by us. Since our employees are happy, the attrition rate is remarkably low. Azim Premji of Wipro fame once said that running a successful company is all about ‘Quality people in the right place’, and for me, the staff’s welfare in all aspects is extremely significant – they are the most worthwhile asset that any company could have.” he explains.%% Nitin’s extensive contribution to the industry does not stop at ensuring the growth of the company. An active personality in the GJF, he is Chairman of the Fellowship Committee and the Programmes and Events Committee. Khandelwal is also the Regional Chairman for the Rest of Maharastra with the GJF, and is the President of the Preferred Manufacturers of India. Significantly, Khandelwal was instrumental in the formation of a Vigilance Committee under the aegis of the Home Ministry, which will deal with the various problems faced by jewellers. More recently, he led a GJF delegation of 66 people to Hongkong, Bangkok and China, where there were several important meetings with the Chinese Consulate, the Chamber of Commerce and important figures from the Chinese jewellery industry.%% The self-confessed multi-tasker also has several charitable initiatives to which he devotes tremendous time and energy. An active Rotarian (he has worked at practically all positions of the Rotary Club), Khandelwal is the President of the Rotary Midtown Charitable Trust. He has been instrumental in getting the Rotary Club to build more than 25 check dams; conduct camps where free polio corrective surgeries were carried out on 500 impoverished children; set up dialysis units - which were, incidentally, inaugurated by BK Birla; organized for cardiac ambulances and more. %% Khandelwal was also responsible for organising a visit of 17 Rotarians to Singapore for an International Convention where there was a stall to showcase Indian projects to the international community. He is also Vice President of the Thalessamia Society of Akola and the Vice President of the Maharashtra Rajya Saraf Maha Mandal. He is trustee of the Shikshan Prasarak Mandal run by the Khandelwal charitable trust too. This Mandal educates 7500 children across six schools and colleges. Recently, the 50-year celebration of the Mandal also saw luminary APJ Kalam gracing the occasion.%%

Which makes one wonder just how does he manage to fit in so much into the 24 hours of the day? “See, others work from 8 to 5, I work from 5 to 8. Now you do the math about the number of hours I work,” he says, tongue firmly in cheek. “Also, if I get an idea at 5:45 pm, I will start working on it at a quarter to six! I am punctual to a fault and my fetish for punctuality can be a problem for others. I strongly believe that every second in life is precious, and that is the reason I plan for the next day before sleeping at night. Moreover, I read that plan as soon as I get up. There has to be a plan and an aim for everything in life. I also delegate my work effectively – and when I delegate I do it wholeheartedly.” As he explains, with another of his quotable quotes: “If you want to see the good quality picture, you have to sit in the dark!”%% He also confesses to some excellent support as he unhesitatingly praises his younger brother Ravi. “If Ravi was not around to support me in these activities, I could not have achieved so much,” he says explaining his abilty to juggle so many tasks. %% “I am also inherently creative and always want to do things differently, however small they may be. Crisis management is one of my strong points too. I enjoy pushing my mental capabilities to the extremes as I firmly believe that ‘Karya kathin hai, isiliye karne yogya hai, saral karya toh sab hi karte hain’ (the task is worth doing because it is difficult, everyone does the simple tasks). Nothing charges me up more than a good debate or discussion – if not a jeweller, I probably would have been a lawyer! I am constantly asking questions – the whys and wherefores of everything around me is intriguing and I love getting into the details,” says the raconteur recognised for his speaking skills at various trade forums and conferences, including several important seminars of the {{GJEPC}}.%% As testimony to his hard work, the awards are aplenty. The Lucky Lakshmi Champion Award, the GJF Chairman’s Award twice in a row, a special honour for the success of the Preferred Manufacturers of India programme, Rotary International Publicity Award, recipient of the major donor pin of the Rotary Club are just a few in a long, long list of awards won by Khandelwal. A recent commendation and one that speaks volumes for his untiring efforts was for never missing a single meeting of the organisation! He also received an award for the Best Executive from the Vidarbha Chamber of Commerce in the presence of a personality who Khandelwal unabashedly admires- {{APJ Abdul Kalam}}.%% The best reward however, according to Khandelwal. However, is the friendships and goodwill generated in the industry. “I am a firm believer in the power of friendships and maintaining good, strong relationships with the people around me,” says he. “If friendship is your weakness, then you are the strongest person on this earth. Take for example, the relationships that my grandfather and father have generated. It was of great help for us when we were in trouble or when we were looking at business expansion. I can safely claim that the good and strong relations built during my forefathers’ time and also during my career so far have contributed immensely to my being able to take Khandelwal Jewellers to great heights.” %% His fondest reminisces are about political VIPs like {{LK Advani, Atal Behari Vajpayee, Nitin Gadkari, Narendra Modi}} ,the late {{Pramod Mahajan}}, who regularly visited the Khandelwal household and maintained very strong relationships with the family in general and Nitin in particular.%%

A family man to the core, he speaks lovingly of his larger family too, and considers it as his biggest asset. And though he never managed anything more than a passing grade in school, Khandelwal has made sure that his children have received the best education possible. Rather proudly, he speaks about how the kids have always scored more than 90 per cent in their exams or have read the entire encyclopedia even before they have reached their teens. %% “My father had eight brothers, and they are all in diverse businesses – we never believed in putting all our eggs in one basket,” he says. “The Khandelwal family has an involvement in every business you could think of, from grains and dal mills to electronics, farming and construction. I have two brothers who not only inspire me, but are a huge support for me, even though all of them are not in the jewellery business. ” He himself also has interests in trades other than jewellery, with plastics (injection moulding plants), sheets and bottling plants, coal washeries, a seven-acre clubhouse in Akola, and a burgeoning construction business all forming part of what is undoubtedly a very diverse portfolio and one that is testimony to his delegation skills.%% Diversification or not, Khandelwal’s first love is the jewellery trade. “There really is no business like the jewellery business,” he enthuses. “It is a prestigious, royal business, one that makes people happy, and brings in a lot of appreciation to the trader who works well here. I for one really enjoy myself!”%% A four-decade long career obviously has led to Khndelwal garnering a lot of learning and insights, all of which he is more than keen to share with the current crop of jewellers. “I am always of the opinion that one should keep an open mind – the parachute will work only when it is open, won’t it? Moreover, it is important to constantly innovate and keep making efforts towards growth,” he elaborates. “A bicycle will move forward only if you pedal! Compete if you must, but compete in terms of design, not in price. And never, ever bad mouth the competition, because talking ill about other jewellers reflects badly on the industry as a whole. Transparency is crucial – always have your policies about sales, exchange, resale et al clearly displayed in the store. Spending on advertising and marketing is important too – consider these as an investment for future growth and expansion. Inventory control is critical – your balance sheet should be in grams, not rupees! ”%% Khandelwal is also a strong supporter of the ‘United we stand, divided we fall’ maxim. “The only path to growth is by collective effort. Never hesitate to share views and ideas with colleagues. Co-operative efforts ensure that rewards increase manifold!” he says.%% More pearls of wisdom follow, “These days the family run jeweller is competing with huge corporates who have entered the jewellery segment. And to compete on an even keel, it is imperative to imbibe their work culture and principles into our business. Corporatisation at all levels is a must – and this is one investment that we just cannot ignore. From store décor, customer service, staff knowledge and courtesy to even the staff uniforms – all must be in sync with the product that we are offering the customer. I always consider that ‘The customer is the only profit we make. Keep her happy’.” Khandelwal is not one to rest on his laurels, because he himself believes that ‘Satisfaction is the death of progress’. Future plans look lofty, but knowing him and given his track record, he is probably well on his way to achieving them. “Organising the jewellery sector is top on my plans for the future. We are scattered and disorganised, and the promotion of the industry needs to be carried out as a whole.

Serious competition that has cropped up during the last decade is that from white goods – cars, mobile phones, laptops, foreign holidays – we need to promote the intrinsic value that a jewellery piece has to the customer, and the only route to doing that is corporatisation, focused marketing and proper organisation. Another dream is to bring young blood into the industry – and for that we need to make sure that the new generation should have a very positive image of the trade. And to achieve that, on the general level, we need to bring in transparency and make our children feel proud to work here.”%% Now, how many jewellers would really feel that kind of concern for the industry? Not too many, but amongst those who do, Nitin Khandelwal’s name stands out and will continue to for many more years to come.