Managing Director believes Indian gem and jewelry industry has potential to grow

By Tara J. McKenna

Shreyas Doshi had some big shoes to fill when he became managing director of Indian diamond and jewelry manufacturer Shrenuj & Company Ltd. in 1996. His goal was to further develop the company his grandfather and father had successfully built, but he realized he needed guidance to accomplish that.

He turned to the teachings of humanitarian Mahatma Gandhi.

“Gandhi has been a major influence on my life in general,” Doshi said. “Personally, I appreciate his ability to influence people through commitment and dedication to their causes. I believe that sincerity, simplicity and honesty are the foundation of a good business and that was the major learning from Gandhi’s life.”

Doshi and his company have illustrated their commitment to the diamond industry with a recent $250,000 gift to GIA. Half will be used for the Institute’s diamond research efforts and half will go to the Endowment for Education in India.

“We believe in technology and innovation,” Doshi said. “I believe GIA is the most suitable forum for development of industry standards in certification and education, which will enhance the technological innovations and improvement in quality of manpower within the industry.”

His father, Kirtilal Doshi, chairman of the board of Shrenuj & Company, has accomplished countless advances for the Indian diamond industry since he joined it 61 years ago. He was instrumental in establishing the Indian Gem & Jewellery Export Promotion Council, served for many years on the Indian government’s Export Advisory Committee and is chairman of the Gemological Institute of India.

Shreyas Doshi is following in his father’s footsteps as the youngest person to become chairman of the Gem & Jewellery Export Promotion Council. He also pioneered laser sawing of diamonds at his company and helped open an all-female diamond polishing unit to extend employment opportunities to women.

Father and son will be recognized at GIA’s League of Honor Dinner Sept. 19 and the student reading center at GIA’s Richard T. Liddicoat Gemological Library and Information Center in Carlsbad will be named after Shrenuj & Company in appreciation of the gift.
 
“All of us at GIA are deeply grateful to the entire Doshi family for their support of our education and research,” said Jerry Buckley, director of Development. “Their company has a distinguished tradition of philanthropy in India and around the world and we are proud to be worthy of their interest and involvement.”

Shrenuj & Company employs nearly 850 people and manu-factures a number of branded diamonds. They have also won numerous awards for their jewelry, including two Diamonds International Awards from the DTC.

Shreyas Doshi believes their company, as well as the entire Indian diamond industry, will continue to grow long into the future.

“The Indian diamond and colored stone industries have already made a mark in the world in terms of both volume and quality. However, the jewelry industry is just around 3 percent of the world market size, which is way below its potential,” Doshi said. “I believe the Indian gem and jewelry industry will continue to grow in double digits for the next few years because of its inherent competitive advantages – creativity, skill and low costs.”