Kalyan Jewellers MD Tops Wealth-X List of Wealthiest Jewelers in India
July 01, 15
(IDEX Online News) – T. S. Kalayanaraman, the chairman and managing director of Kalyan Jewellers, heads the list of Wealth-X’s list of India’s top 10 wealthiest jewelers.
Kalayanaraman opened his first jewelry shop in Thrissur City in 1993 with $100,000. The business has now expanded to 32 showrooms across South India and Kalayanaraman has an estimated personal fortune of $1.3 billion.
Nirav Modi, who comes second on the list with an estimated net worth of $1.1 billion, is the founder of Firestar Diamonds, which he started after leaving the family diamond business.
In third place on the list is M. P. Ahammed, who has personal fortune of $1 billion. After first venturing into business in 1979 with an ice-making factory, Ahammed opened the first Malabar Gold & Diamond showroom in 1993 with only $70,000.
"The gems and jewelry industry is among India's fastest growing sectors fuelled by UHNW’s affinity for jewelry and the fact that they view it as an important store of value. For India's ultra wealthy jewelers, all that glitters is gold," said Sahil Mehta, director, Indian subcontinent at Wealth–X.
| Rank | Name | Net Worth * | Company Name |
| 1 | T. S. Kalayanaraman | $1.3 billion | Kalyan Jewellers |
| 2 | Nirav Modi | $1.1 billion | Firestar Diamonds |
| 3 | M. P. Ahammed | $1.6 billion | Malabar Gold & Diamond |
| 4 | B. Govindan | $620 million | Bhima Jewellers |
| 5 | Vallabhbhai S Patel | $590 million | Kiran Gems |
| 6 | Vasant Gajera | $580 million | Laxmi Diamond |
| 7 | Laljibhai Patel | $480 million | Dharmanandan Diamonds |
| 8 | Babubhai Lakhani | $470 million | Kiran Gems |
| 9 | Mavji Bhai Patel | $410 million | Kiran Gems |
| 10 | Rajesh Mehta | $310 million | Rajesh Exports |
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