Our guest students from HOF, Germany along with Vishwakarma university students visited one of the most well known jewelers in the city-Ranka Jewelers and explored the various aspects of Indian Jewellry Industry.
Second generation owner of Ranka Jewellers, Mr. Vastupal Ranka talked about the growth story of Ranka Jewelers in Pune and its spread all over India. Mr. Ranka took us through their human resource policies, business practices and their vision for Ranka Jewellers.
He gave an insight into different types of jewelry, precious metals, stones & craftsmanship. He talked about the changing face of business and the e-commerce opportunities for the jewellery business. He explained the customer patterns, their behavior and what makes Indians invest in gold. Mr. Ranka explained about the Gems and Jewelry sector, which plays a significant role in the Indian economy, contributing around 6-7 per cent of the country’s GDP. It also employs over 2.5 million workers. One of the fastest growing sectors, it is extremely export oriented and labour intensive. Based on its potential for growth and value addition, the Government of India has declared the Gems and Jewellery sector as a focus area for export promotion Gold demand in India is seasonal in nature which rose 30 per cent year-on-year to 298.4 tonnes between January-June 2017, backed by robust buying towards the end of quarter ending June 2017.
Students were fascinated by a tour around the shop spread over three floors lined with exquisite Gold, Silver and Platinum jewelry at each level. Both Hof and Vishwakarma students shopped for souvenir gifts from Ranka Jewelers. Mr. Vastupal Ranka was felicitated by VU faculty, in return Mr. Ranka offered a small token of gift to all the participants.