A Global Sparkle

From sensing an opportunity in the global market to thriving well amidst competition, for many years now, she has been running a successful jewellery business with exports from Japan to Pakistan, EU to USA. And understandably, she wants to conquer newer markets in days to come.

Deepak Kumar | March 2016 Issue | The Dollar Business 

Neeta Boochra, Director, Indo Gem Exporters

Neeta Boochra, Director of Indo Gem Exporters, a manufacturer & exporter of gemstones and jewellery with a marketing network around the globe and offices in Italy and Hong Kong, is someone who has been working relentlessly towards empowering women and helping them develop an independent attitude to succeed in today’s hyperconnected world. We met this remarkable woman at her home in the city of Jaipur. As she walked in, dressed in a stylish Indian outfit and with a radiant smile, we tell her, while taking the first sip of coffee, “your work has been so diverse and we have so many questions that it’s quite difficult to choose where to begin!” Neeta laughs, and after a brief introduction, she begins to talk about her recent meeting with Rajasthan’s Chief Minister Vasundhara Raje. She says she proposed the idea of developing an industrial estate in Rajasthan, which could facilitate easy access to finance, impart training to women, and provide common facilities and infrastructure.

So how did it all begin? What inspired her to enter the world of gems and jewellery? “My grandfather-in-law was the lifelong President of The Bullion Association; he was trading in silver and gold at that time,” says Neeta adding that “I had the desire to do something related to gold or silver, so we started making silver artifacts. And then we realised that there was a huge market awaiting us. We tried to tap the change in people’s preferences.”

She is quite a busy woman – from promoting women entrepreneurship and attempting to make them self-reliant by organising vocational events, to supporting education for underprivileged children, to running her business, she works round the clock. In fact, she wants to influence as many women as possible, so that they can take charge of their own lives.

The conversation with her is easy going, but revealing; she has a way with her words and her thoughts are truly inspiring. She believes that women empowerment is directly related to economic empowerment. There is an entrepreneur in each and every woman. In fact, Neeta has many quotes to drop along the way, and this one is one of her favourites, “When the passion of a few becomes the mission of many, challenges become opportunities, and opportunities become a vibrant reality – a power of collective commitment,” she says. Beautifully balancing the role of a home maker, a mother, an entrepreneur, an educationist and a social worker with excellence, Neeta Boochra is certainly a fine example of modern Indian womanhood.

TDB: Take us back to the beginning. What inspired you to get into the gems and jewellery business?

Neeta Boochra (NB): My family inspired and encouraged me to set foot in the gems and jewellery business. It was then that my intuitive and innovative skills came to the surface. As I was given more space and freedom to experiment, my imagination took wings and then, there was no looking back.

The beautiful royal jewellery of Maharani Gayatri Devi of Jaipur also inspired me to create jewellery for the masses at affordable prices. Back in those days, there were hardly any women in this business, and it was being completely dominated by men. That also inspired me to bust the male stronghold on this industry.

TDB: What do you do in order to stay ahead of competition, globally and in the domestic market?

NB: We are known for innovation, in terms of designs, and as such investing regularly in research and development. And this is what makes us a trendsetter. Moreover, we absolutely refuse to compromise on quality and craftsmanship under any circumstances. We are producing the best quality of gemstones and jewellery at the cheapest prices. Our brand is very popular and well-known in the domestic market.

We are trying to build our brand at par with other global brands. In the global market, we mostly collaborate with local companies. Networking has also played a major role in our success across international markets.

TDB: How effective has the government been in extending support to the industry?

NB: There is not enough support from the government for the gems and jewellery industry, as they consider it as a luxury product. The government should come forward and support it, as it has the potential to be one of the highest foreign exchange earners for the country. The import duty on coloured gemstones should also be abolished immediately.

The government should give incentives to start ups that are led by women, access to finance from banks at lower rates of interest, and single window clearance facility for setting up of a business. Also, there are certain duties which the government should completely do away with.

TDB: Which countries hold immense potential for gems & jewellery exports from India? Any plan to expand your business further?

NB: We are mainly supplying to US, Europe, and Japan. The American market holds immense potential for our jewellery. We have a lot of plans when it comes to global expansion. There is also a huge market in UK, Singapore and various other countries. We are also exploring the jewellery market in Pakistan. We have specific preferences coming up from our overseas clients, which also helps us in keeping up with the global trend.

TDB: What is your opinion on Make in India and the push for Ease of Doing Business? Do you think they are working?

NB: Till now, we have not experienced any ease of doing business. As always, implementation on the ground level is very poor. The sooner these projects are implemented, the better it will be for India.

However, there is a sense of optimism among entrepreneurs, including women. They feel that given some kind of catalytic support, they can really make a difference in their respective fields. The focus has to be on encouraging job creating entrepreneurs, rather than just job creation.

TDB: Do you import raw materials? If yes, from where?

NB: We import raw materials mainly from African countries including Nigeria, Mozambique, Zambia, Congo, and Madagascar. We also import some material from China because of the market demand. There is hardly any raw material available in India. However, importing raw materials from the aforesaid countries, manufacturing in India, and then exporting the finished products to countries where they are in demand can bring about a lot of monetary benefits.

TDB: In your opinion, what is it that continues to hold back women entrepreneurs?

NB: Lack of financial support, gender discrimination, and lack of self confidence are some of the major factors that are holding them back. In fact, women are discriminated everywhere, in government jobs, in private sector, and in family businesses too. They are still dependent on family support and social approval. Financial freedom is mandatory for overcoming familial and social barriers.

Women are great intellectual geniuses and excel when it comes to planning and execution. Any department headed by a woman is a lot more focused, and is far ahead of others.

TDB: What would be your advice to aspiring women entrepreneurs?

NB: Dream impossible and you will succeed. Align your passion with your goals. If you focus on your goals you will overcome all obstacles, but if you think about the problems then you will never reach your goal. I would like to share a very important thing that I believe in – "If you chase your dreams hard, they do come true." Whatever it is that you are doing, just do it with the utmost passion. Throw every part of yourself completely into it – head, heart, and hands. And you will see the results by yourself.

Next Page: A 'Gem' of a Pioneer