Kalyan Jewellers’ chairman and managing director T S Kalayanaraman, is the wealthiest jeweller in India with a personal fortune of U.S. $1.3 billion, says Wealth-X report.
Kalayanaraman opened his first jewellery shop in Thrissur City in 1993 with only USD 100,000 capital, and his business has now expanded to 32 showrooms across South India. His personal fortune is worth U.S. $ 1.3 billion.
Nirav Modi was ranked second on the Wealth-X list of India’s wealthiest jewellers with an estimated net worth of U.S. $ 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,” it said.
The third on the list is M P Ahammed, with a personal fortune of USD 1 billion. Ahammed had opened the first Malabar Gold & Diamond showroom with only U.S. $ 70,000.
Below is the list:
“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!” Sahil Mehta, director, Indian subcontinent at Wealth-X said.
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