Mehul Choksi, Chairman and Managing Director was a winner of the Outstanding Entrepreneurship Award at the prestigious Asia Pacific Entrepreneurship Awards that took place at a glittering function held at Hotel Taj, New Delhi. He received the award from Justice Markandey Katju, Chairman – Press Council of India & William NG, President – Enterprise Asia.
The Asia Pacific Entrepreneurship Awards is a world-class awards scheme that recognises and honours business leaders across different countries in the region. It is organized by Enterprise Asia, a prominent non-governmental organization committed to entrepreneurship development which is. supported by local governments and businesses.
Choksi leads the Gitanjali Group, a corporate in the gems and jewellery industry with a turnover of over US$ 2 billion. The group has grown over the last four and a half decades from its roots in Surat, India to emerge as a global giant with operations in all the key international gem and jewellery markets; and over 4000 points of sale worldwide. Gitanjali has also played a key role in spearheading the modernisation and transformation of the traditional gems and jewellery industry in India during this period.
The award is a recognition not only of Choksi’s success in developing and expanding the business of Gitanjali Group from a traditional diamond cutting and polishing company into the world’s largest branded jewellery manufacturer-retailer, but also of the entrepreneurial attributes he has demonstrated in the process. Among the specific qualities that have been recognised is the innovative and path-breaking business model that he developed and the fact that it will serve as a role model for emerging entrepreneurs and others in the field to emulate.
Some of the pioneering steps taken by Gitanjali under Choksi’s leadership include – launching the first ever branded jewellery line in India (1994), integrating jewellery into as a category into the department and lifestyle store that emerged in India over the last decade and a half; introducing the concept of an MRP for the jewellery industry; building consumer confidence by being one of the first jewellers to sell hallmarked gold and certified diamonds; developing a retail presence in global markets; spearheading the development of a private sector gem and jewellery SEZ, etc.
The award is the latest recognition for Choksi who has earlier won numerous other awards for his achievements and contribution to the industry.
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