Jewellery Technology & Machinery - JTM
Catalyzing Transformation for the Indian Gem & Jewellery Manufacturing sector

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:

  1. Suitability of the product for given application

  2. Quality of product and reliability of the supplier in terms of continuous technical support/upgrades.

  3. Flexibility in customization to suit specic customer requirements.

  4. Long Term commitment outlook towards Indian market

  5. Open to sharing global best practices and experience

  6. 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

  1. “NICKAST” brand of casting powders, and various other consumables etc are well known among users.

  2. “OROTIG”: for laser welding /cutting/ marking applications.

  3. “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.

  4. “RIACETECH”: wide range of wax injectors with different features and congurations 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 signicant 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.

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