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Wealth-X Reveals: The Top 10 Wealthiest Jewellers In India

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Wealth-X Reveals: The Top 10 Wealthiest Jewellers In India

Jul 01, 2015, 01:00 ET from Wealth-X

SINGAPOREJuly 1, 2015 /PRNewswire/ — T. S. Kalayanaraman, the chairman and managing director of Kalyan Jewellers, claimed the top spot on a Wealth-X list of India’s wealthiest jewellers released today with a personal fortune of US$1.3 billion.

Kalayanaraman opened his first jewellery shop in Thrissur City in 1993 with only US$100,000 of capital, and his business has since expanded to 32 showrooms across South India.

Nirav Modi ranks second on the Wealth-X list with an estimated net worth of US$1.1 billion. Born into a family of Indian diamantaires, Modi left the family business in 1999 and launched his own company, Firestar Diamonds. In 2007, Firestar Diamonds acquired New York-based Sandberg & Sikorski.

M. P. Ahammed took third place on the Wealth-X list with a personal fortune of US$1 billion. After first venturing into business in 1979 with an ice-making factory, Ahammed tried his luck with gold in 1993, opening the first Malabar Gold & Diamond showroom with only US$70,000.

Sahil Mehta, director, Indian subcontinent at Wealth–X, commented: “The gems and jewellery industry is among India’s fastest growing sectors fuelled by UHNWs affinity for jewellery and the fact that they view it as an important store of value. For India’s ultra wealthy jewellers, all that glitters is gold!”

Below are the top 10 wealthiest Indian jewellers:

Rank

Name

Net Worth *

Company Name

1

T. S. Kalayanaraman

1,300

Kalyan Jewellers

2

Nirav Modi

1,100

Firestar Diamonds

3

M. P. Ahammed

1,000

Malabar Gold & Diamond

4

Satish Panchariya

750

Cherish Gold

5

B. Govindan

620

Bhima Jewellers

6

Vasant Gajera

580

Laxmi Diamond

7

Laljibhai Patel

480

Dharmanandan Diamonds

8

Babubhai Lakhani

470

Kiran Gems

9

Mavji Bhai Patel

410

Kiran Gems

10

Rajesh Mehta

310

Rajesh Exports

*in US$ million

About Wealth-X
Wealth-X is the global authority on wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, not-for-profit and education sectors. Its award-winning research and thought leadership are regularly cited by the world’s media such as CNBC, Financial Times, Thomson Reuters and BBC. Wealth-X has more than 250 staff in 10 locations, including SingaporeLondonand New York.

SOURCE Wealth-X

 

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