Nikunj Eximp Entp P Ltd is a foremost
Distributor of cutting edge Technology
leading state of the art products for the
Jewellery manufacturing sector in India.
In this exclusive, Mr Nikunj Shah shares
his thoughts on the company’s growth
and how Nikunj Eximp Entp P Ltd has
been instrumental in transforming the
very process of Jewellery manufacturing
in India. Excerpts:
Nikunj Eximp Entp P Ltd today is a known name and a preferred
partner for many a manufacturing entities in the jewellery sector
in India. What is it that has motivated you to take the company to
become one of the leaders in the Technology & Machinery
sector?
NICKUNJ group commenced its journey almost four decades ago.
From a single product company, it has grown into multi – product
company with a spread of 3000+ products and catering to a wide
base of 25000 loyal customers through five Strategic Business
Units. Our foray into Jewellery Manufacturing Solutions
commenced around the year 2001 with few products. Since then,
we have established NICKUNJ brand as reliable and trustworthy
partner primarily by offering high technology products, turnkey
solutions and maintaining high service levels. Our customers have
in turn reciprocated by giving us the opportunity to meet their
growing needs, and we have made all efforts to match the needs of
our local customers with most cost effective, technologically
advanced and well accepted products available globally. Today we
have partnered with more than sixty global brands, with many new
brands clamoring to be associated with NICKUNJ for the Indian
market. We are in effect motivated by the trust and confidence
reposed in brand NICKUNJ by our esteemed Customers and the
support and cooperation extended by our Principals.
What is the strategy that goes behind choosing to work for
Multinational brands? Name important factors that you look at
before partnering with a foreign brand?
Before coming to the strategy, I would like to dwell on the necessity
to look beyond Indian frontiers:
Jewellery manufacturing in India has been in existence for many
centuries, and it has been dominated by skill of traditional artisans
& craftsmen suited for limited edition manufacture, catering to
individual requirements or a very low volume production requirements. However, with the increase in demand locally and
globally, volume and quality demands have increased
exponentially. Also, these manufacturing limitations were proving
to be a handicap to tap the otherwise highly potential export
markets. Therefore, it was imperative to get the latest in technology
to our shores to empower local manufacturers upgrade their
manufacturing process and compete in a global arena, thus making
way for multinational brands to enter the Indian market.
At NICKUNJ Group, being close to all our customers, we were well
versed with their specific requirements and at the same time have
been keeping abreast of all the developments globally thru regular
visits, participation and interaction with all major manufacturers in
the various international shows, exhibitions, seminars and were
therefore are in a comfortable position, to identify the potential
brands, processes and organizations who could help us overcome
the impediments faced by the local industry back home.
“Important factors we consider in nalizing a global brand:
- Suitability of the product for given application
- Quality of product and reliability of the
supplier in terms of continuous technical
support/upgrades.
- Flexibility in customization to suit specic
customer requirements.
- Long Term commitment outlook towards Indian
market
- Open to sharing global best practices and
experience
- Lineage and years of experience
At this point of time, we have partnered with more than 60
global brands, which enable us to respond to the industry
requirements at will.
With the advent of GST in India, how do you
see the business growing especially for
Dealers and Distributors of technology and
machine tools in the country?
GST is boon for the industry. Most imported
Capital items and consumables would now
be available at competitive pricing with
minimum levies. This will cer tainly
encourage the manufacturing fraternity to
invest in high quality capital equipments
which in turn will facilitate competitive
advantage as compared to manufacturers
abroad. GST will pave way for investment
cycle towards up gradation and automation
in the manufacturing process. All Dealers and
Distributors can expect to see increase in
demand in volume as well as expansion of
range with new product introductions.
There have been instances of “Price War”
seen in India when it comes to multiple
dealers selling a similar quality or Brand of
machines. Is it true and if yes please advice
on countering this phenomenon.
Essential ingredients of supply and goods
are a) Quality product b) competitive pricing
c) effective after sales service d) Pan India
infrastructure and above all reliability in terms
of years of operations i.e More than at least 3
decades. It is indeed difficult to name
competitors having all the above. Therefore, I
do not see a compulsion to resorting to a
“Price War” to push the products and/or
services. Those resorting to a price war may
have only one USP to bank on i.e. price.
Moreover, we align with our customers to
extensively understand their operations and
therefore their requirements and offer
competitive and sustainable solutions, which
is reflected in our Tag Line – “Catalyzing
Transformation”.
What are your expansion plans outside
India? Please emphasize on the South
Asian region that Nickunj plans to expand.
We are open to expanding our operations
beyond the Indian horizon. And if compelling
opportunities are available, we will definitely
go hammer & tongs. This may be
either through mergers &
acquisitions mode, using
channel par tners and/or
direct investments. As of
now we have established
resellers/distributors based
at Bangkok for Thailand and
other markets nearby. We
also have appointed
distributor/channel partners
in Nepal and Myanmar. We are on the look out to set up
distributor/channel partners in Vietnam,
Cambodia, Sri lanka, Bangladesh and
Indonesia.
Nickunj is one of the few companies in the
Technology sector in India who has been
successful in corporatizing the company.
What are your succession plans about your
family taking forward the legacy?
Yes. I agree that we have been quite
successful in corporatizing by bringing on
board highly qualified and experienced
professionals from the industry- independent
managers who are expected to be
responsible for the SBU’s as though they
were operating a stand-alone company and
profit centers. This ring-fencing is intended to
create greater financial transparency,
minimize inter ference and strengthen
managerial accountability. As regards
succession plans, my son Mishal, has joined
the company five years ago, is totally
involved in the business and the best part of it
is that he too shares the same vision.
JMA has been initiated last year to give a
voice to the Technology & Machinery sector
in India. Can you elaborate on your
experience being in the helm of the
association and what are the future plans of
the same in India?
JMA was formed with the first and foremost
objective of providing a common platform as
well as a unified voice to the machinery
manufacturers pan India. Being at the helm of
such a juggernaut is indeed a challenging
task. However, we got oppor tunity to
represent the concerns of fraternity to the
august body of GJEPC which has culminated
in getting a dedicated pavilion at the IIJS
Show under the aegis of GJEPC. Efforts are
on for providing exposure to the latest
technologies to its member to empower them
upgrade their products and compete globally.
There is lot to be done and with cooperation
of all the constituents, I am hopeful of
meaningful benefits accr uing to the
members.
In brief tell us about your best selling products
for the Indian manufacturing sector. Has it
transformed the very production process for the
jewellery manufacturers in the country? If yes,
how?
All the products offered under NICKUNJ umbrella
are well accepted by the Jewellery
manufacturing fraternity. However few of the
most popular brands are as follows
- “NICKAST” brand of casting powders, and
various other consumables etc are well known
among users.
- “OROTIG”: for laser welding /cutting/ marking
applications.
- “TOP CAST” : for total range of machines and
equipments for melting and casting ie vacuum
pressure casting machines, jewelry casting
equipment, melting furnaces, induction heating
equipment, gold smelting plants, cupellation
furnaces for assay etc.
- “RIACETECH”: wide
range of wax injectors
with different features
and congurations to
suit all the needs of the
jewelry world, fashion
accessories and more.
While using the said
products from
NICKUNJ group our
customers have
achieved signicant
improvements in
production rate,
quality, consistency, delivery security, reduction
in rejections and in process gold loss. All this has
given our customers the competitive advantage
and facilitated continuous business growth year
on year.