Gujarati Man Transforms from a Rented Room to Owning a Rs 4,800 Cr Brand, Refusing to Accept Poverty
A Gujarati Man's Journey from Rs 500 to Building a Rs 4,800 Crore Diamond Empire
chandni
Govind Dholakia, a man with unwavering determination, made a life-changing decision to leave his salaried job and venture into business. Armed with only Rs 500 in his pocket, he approached a diamond seller and expressed his desire to purchase raw diamonds. Opting for a cash transaction, Dholakia embarked on a transformative journey that not only led to the creation of a business empire worth Rs 4,800 crore but also established India as a diamond hub.
Meet Govind Dholakia
Born on November 7, 1947, in the remote village of Dudhala, Gujarat, Govind Dholakia grew up in a humble agricultural family of seven siblings. His childhood lacked luxuries and access to quality education, yet it was characterized by simplicity and resilience. Fondly known as Kaka, Dholakia embodies traits of generosity and kindness. At the age of 17 in 1964, he left for Surat, Gujarat, driven by the motivation to support his family and surpass expectations by pursuing his dreams.
The Journey Begins
Initially working as a diamond cutter and polisher, Govind Dholakia, along with his two friends Virjibhai and Bhagwanbhai, decided to start their own independent venture. Renting a modest 10x15 feet room for Rs 45 per month, they established the Shree Ramkrishna (SRK) Export Company, named after the gods they worshiped. Their association with Hirabhai Vadiwala, a dealer in rough diamonds, proved instrumental in their success. Dholakia's team achieved a remarkable feat by producing diamonds with a weight equivalent to 34 percent of the rough diamonds' weight, surpassing the norm of 28 percent. This achievement inspired Dholakia to establish his own diamond manufacturing factory, necessitating a direct supplier of rough diamonds.
A Courageous Path Unveiled
In April 1970, armed with Rs 500, Govind Dholakia approached Rameshbhai Shah's office and encountered Vasantbhai, his brother. Expressing his intent to purchase rough diamonds, Dholakia was asked whether he intended to pay in cash or on credit. Opting for a cash transaction, he displayed unwavering determination. Although Vasantbhai did not have diamonds available at that moment, he agreed to help Dholakia acquire them, charging a one percent commission. Their journey led them to the offices of Babubhai Rikhavchand Doshi and Bhanubhai Chandubhai Shah, who quoted a price of Rs 91 per carat, with a minimum purchase requirement of ten carats. This amounted to Rs 910, with an additional brokerage fee of Rs 10. When Dholakia revealed that he only had Rs 500, they allowed him to repay the remaining Rs 410 upon returning home.
