JNA Awards 2020 - Jewellery Industry Best Practices

JNA AWARDS • 2020 71 Jiva, on the other hand, addresses limitations on repair and finishing with its ability to work on finer three-digit points, such as 1.161mm. This enables the manufacturing line to save and repair stones in the most exacting manner possible. Altogether, these machines contributed to a 1 to 1.5 percent increase in revenues. They also minimised raw material wastage, which lessened production costs by 10 percent. Due to their automated nature, the machines also lowered manpower requirements by 10 percent, resulting in cost savings of 15 to 20 percent. The complementing installation of other energy-efficient equipment also helped the factories pare down electric consumption by another 10 percent. Moreover, Yantra has a market potential that goes beyond the diamond industry. “The ideas that brought Sarva and its partner machines to life exemplify how collaboration could lead to wonders. These machines are going to be game changers in the diamond manufacturing sector,” Kothari explains. “Yantra plans to pass on the benefits of its innovative solutions to other industries such as the automotive and medical sectors.” Manufacturer of the Year Modernisation aside, KGK Diajewels is accelerating innovation in other aspects of its business. These efforts have grown increasingly important, especially as the industry battles to survive the disruption caused by the COVID-19 pandemic. “We expect large-scale enterprises such as ourselves to bear inevitable losses to keep the infrastructure intact. Still, we will work aggressively and maintain a fresh outlook as we find ways to revive the business,” says Kothari. For this manufacturer, recovery means giving consumers more reasons to buy jewellery. It also ventured into special diamond cuts like Cushion Hearts & Arrows and Square Cushion Hearts & Arrows – the company’s unique take on cushion-cut diamonds, which show the starburst pattern. “A wider product variety leads to experimentation and client satisfaction,” shares Kothari. To further broaden KGK Diajewels’ customer reach and increase its revenue streams, it launched KGK.live. This B2B online trading platform enables clients to access the manufacturer’s diamond inventory in real time. On that same note, KGK Diajewels collaborated with local retailers and watchmakers in Switzerland to grow its global sales network. Kothari underscores the important role that human resources play in ensuring the group’s success. Living up to the group’s slogan – “Inspired to Shine,” the management empowers the staff by providing them with the support that they need to excel. “We aim to transform each member of our staff into entrepreneurs, thus increasing their contributions to our sustainability, and even in boosting the economy as a whole,” he says. 1, 2, 5. Employees inspect diamonds at KGK Diajewels’ sorting facility 3. Navrattan Kothari, Patriarch of the KGK Group 4. One of the ‘Think tanks’ at KGK Diajewels’ manufacturing unit in Surat, India 2 4 3 5