Sheetal Bamalwa: Amplifying India's Exotic Jewel Fashion
Sheetal Bamalwa
Co-owner
Sheetal is a winner of the prestigious Sanmarg 'Aaparajita' award for 'Young Achiever in the field of Jewelry' in 2018. Further, the Governor, Shri Jagdeep Dhankarji, recognized her with the 'Women Entrepreneur Award' at Jain International Trade Organization's Ladies Wing in 2020. Appreciating her thoughtful leadership in the Gems and Jewelry market, we are presenting her journey. Below are the excerpts.
Take us through your educational and professional background? What inspired you to be an entrepreneur in the Gems and Jewellery domain and what drives you today?
I was inspired to excel in academics by my parents. They instilled in me a sense of hard work and discipline. I performed consistently well in academics, excelled in athletics and sports, and graduated as an Engineer from the prestigious regional MNIT College, Jaipur.
My transition into jewelry started as a hobby but in no time turned into passion because it embodies certain traits like innovation, purity, designing, and creativity which are important to me. I am extremely lucky to have my father-in-law, Madanlalji Bamalwa, who has been a pioneer in this industry to have as my mentor and guide. Being able to be creative, making an impact in another person's life, getting a smile on my customer's faces, and empowering them with knowledge is what drives me. The experiences gained with my customers, their good- will, the satisfaction, the smile on their faces, and their
appreciation, are what thrives me today.
Having 22 + years of experience in this industry, how do you apply your experiences in taking Nemichand Bamalwa & Sons to greater heights?
Nemichand Bamalwa & Sons have a strong brand capital. Being in a Commodity industry, the key is to provide a custom-tailored experience for a long-term mutually beneficial relationship. This includes creating awareness about the product and practices in the industry so the customer can make the best decision. To achieve long-term success, the focus has and will be around customer engagement, and being able to anticipate the change in industry trends and government policies.
What are the changes in market behavior that you anticipate and what are the opportunities that you foresee? What are your future goals as the founder of the company?
The luxury jewelry market is expected to increase due to growing high-net-worth individuals, in-creasing influence of social media, penetration of e-Commerce, increasing Gen Z income, rapid urbanization, globalization, and rising empowered female population.
The Gems and Jewelry industry are the biggest foreign exchange earning segment for the government. Considering the potential for growth and value addition of the Indian Jewelry industry, we can anticipate the gems and jewelry sector as a focus area for export promotion. Annually India process-es about one billion pieces of diamonds being the world's largest center for cut and polished diamonds. India is deemed to be the hub of the global Global Jewelry market because of its low costs and availability of cheap labor. Opportunities in the cutting and polishing sector of diamonds are also endless.
Gold and jewelry purchase will increase as it is considered a safe haven for investment by the bride. Also, the integration of emerging technologies such as Artificial Intelligence, Machine Learning, Virtual Reality, and Augmented Reality will help boost marketing.
Having 22 + years of experience in this industry, how do you apply your experiences in taking Nemichand Bamalwa & Sons to greater heights?
Nemichand Bamalwa & Sons have a strong brand capital. Being in a Commodity industry, the key is to provide a custom-tailored experience for a long-term mutually beneficial relationship. This includes creating awareness about the product and practices in the industry so the customer can make the best decision. To achieve long-term success, the focus has and will be around customer engagement, and being able to anticipate the change in industry trends and government policies.
Earning goodwill and a smile on the face of my customer, still gives me the most satisfaction
What are the changes in market behavior that you anticipate and what are the opportunities that you foresee? What are your future goals as the founder of the company?
The luxury jewelry market is expected to increase due to growing high-net-worth individuals, in-creasing influence of social media, penetration of e-Commerce, increasing Gen Z income, rapid urbanization, globalization, and rising empowered female population.
The Gems and Jewelry industry are the biggest foreign exchange earning segment for the government. Considering the potential for growth and value addition of the Indian Jewelry industry, we can anticipate the gems and jewelry sector as a focus area for export promotion. Annually India process-es about one billion pieces of diamonds being the world's largest center for cut and polished diamonds. India is deemed to be the hub of the global Global Jewelry market because of its low costs and availability of cheap labor. Opportunities in the cutting and polishing sector of diamonds are also endless.
Gold and jewelry purchase will increase as it is considered a safe haven for investment by the bride. Also, the integration of emerging technologies such as Artificial Intelligence, Machine Learning, Virtual Reality, and Augmented Reality will help boost marketing.
In your professional journey so far, which are the milestones that bestowed you with utmost satisfaction?
I have been a strong believer that the path you take to achieve the milestone is more important in shaping your career. So looking back I strongly believe in two concepts. Firstly, being able to morph a challenge into an opportunity: The key is to be personally committed, have patience, and have a mentor who can navigate you during those tough times. Like my journey over the last 22 years, from being a Computer Engineer to Co-owning a bespoke jewelry enterprise, with my father-in-law as my mentor. Secondly, be passionate and share your knowledge: For 10+ years I have been increasing awareness to customers about diamonds to make the best decisions by publishing a weekly column. This column appeared in the most widely circulated vernacular daily in Eastern India, 'Sanmarg Hindi Daily' and its purpose was to educate people to make the most informed decisions when it came to purchasing diamonds.
You are an inspiration for future women entrepreneurs. What would be your advice to them?
I am humbled to be addressed as an inspiration. Consistency in efforts, attention to detail, and building lifelong relationships with customers have helped me grow over the years.
Women have considerable social responsibility. We have individual ways of managing things, and I feel optimizing our work time and setting priorities worked best for me. My advice is to focus on goals that have a long-term impact in your area of passion and always have a growth mindset.
Sheetal Bamalwa, Co-owner, Nemichand Bamalwa & Sons
Sheetal has been a renowned bespoke jeweller for more than 20 years. She is also a columnist and successful speaker passionate to empower women by demystifying the myths about jewellery and has been felicitated for her work.
I have been a strong believer that the path you take to achieve the milestone is more important in shaping your career. So looking back I strongly believe in two concepts. Firstly, being able to morph a challenge into an opportunity: The key is to be personally committed, have patience, and have a mentor who can navigate you during those tough times. Like my journey over the last 22 years, from being a Computer Engineer to Co-owning a bespoke jewelry enterprise, with my father-in-law as my mentor. Secondly, be passionate and share your knowledge: For 10+ years I have been increasing awareness to customers about diamonds to make the best decisions by publishing a weekly column. This column appeared in the most widely circulated vernacular daily in Eastern India, 'Sanmarg Hindi Daily' and its purpose was to educate people to make the most informed decisions when it came to purchasing diamonds.
You are an inspiration for future women entrepreneurs. What would be your advice to them?
I am humbled to be addressed as an inspiration. Consistency in efforts, attention to detail, and building lifelong relationships with customers have helped me grow over the years.
Women have considerable social responsibility. We have individual ways of managing things, and I feel optimizing our work time and setting priorities worked best for me. My advice is to focus on goals that have a long-term impact in your area of passion and always have a growth mindset.
Sheetal Bamalwa, Co-owner, Nemichand Bamalwa & Sons
Sheetal has been a renowned bespoke jeweller for more than 20 years. She is also a columnist and successful speaker passionate to empower women by demystifying the myths about jewellery and has been felicitated for her work.