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Chandukaka Saraf: 200 Years Of Legacy, Trust and The Evolution Of Jewellery

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Few businesses have the privilege of celebrating a journey spanning two centuries. For Chandukaka Saraf, this milestone is not a celebration of longevity; it is a celebration of the generations of customers, employees, artisans, partners and communities who shaped the journey.

Established in 1827 in Baramati, Chandukaka Saraf began as a family enterprise and has grown into a jewellery brand with 19 stores across Maharashtra and Karnataka. The brand is looking to add another five to seven stores in the current calendar year. More than 1,000 employees contribute to the organisation’s journey.

Legacy Built Across Generations

From Late Shri Bhaichandji Shah, whose commitment to purity and excellence laid the foundation, to Late Shri Jyotichandji Shah and Late Shri Chandulalji Shah, who strengthened customer relationships and expanded the business, and Late Shri Jindattaji Chandulal Shah, who played a pivotal role in business growth, employee welfare and ethical practices—the family journey has been one of continuity and evolution. Today, Chairman Shri Kishorkumar Jindatta Shah and Managing Director Mr. Samyak Kishorkumar Shah are leading the next phase.

For Chairman Shri Kishorkumar Shah, the 200-year milestone is deeply personal. It represents generations of trust and responsibility.

When Customers Changed, Jewellery Changed Too

Over two centuries, India has undergone significant social and economic transformation, and jewellery has evolved alongside it. Traditionally associated with weddings, festivals and major family occasions, jewellery today has become increasingly connected to personal expression.

Customers are choosing jewellery to celebrate first salaries, professional milestones, birthdays, anniversaries and personal achievements. Traditional gold continues to hold emotional significance, while diamonds, gemstones, silver and lightweight designs have become part of modern wardrobes.

This evolution can be seen in heritage jewellery, where traditional craftsmanship and motifs are being interpreted through contemporary designs. Today’s customer wants the reassurance of heritage while also seeking individuality, versatility and convenience.

For Chandukaka Saraf, understanding this shift means serving both customers who value tradition and younger consumers with new expectations.

Samyak Shah, Managing Director, Chandukaka Saraf.

“Our responsibility is to nurture and cherish both tradition and modernity.”

“Our role is to understand and serve both, while continuously evolving without compromising the trust that defines Chandukaka Saraf.”

When Technology Became Part of Trust

While designs have changed, some things have remained constant: purity, craftsmanship, transparency and trust.

Chandukaka Saraf has adopted technology and new practices to strengthen customer confidence. Long before hallmarking became a formal industry standard, the brand introduced its own hallmark as a representation of its commitment to purity and authenticity. It was also among the early pioneers in introducing Karatmeters at its stores, enabling customers to check gold purity through technology.

From Baramati to the Future

From Baramati to 19 stores across Maharashtra and Karnataka, the brand has expanded while retaining its connection with its roots. With five to seven new stores planned in the year, the brand is preparing to take its legacy into newer markets.

In the evolving jewellery in Maharashtra landscape, the opportunity lies in combining the reassurance of heritage with the expectations of a new generation.

What Changes, and What Remains

A 200-year legacy is a story of evolution—adapting to changing times while preserving the values that endure. It is about understanding what needs to evolve while protecting what should remain constant.

Designs, technology and consumer aspirations will continue to evolve, but the desire to celebrate meaningful moments, give something lasting and create memories will remain.

From Baramati in 1827 to its growing presence today, Chandukaka Saraf continues a story built across generations—where heritage jewellery meets modern aspirations, and changing times are met with an enduring commitment to purity, transparency and trust.

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GemLead Focus:IIM Ahmedabad and GJC Continue Landmark Collaboration

An Exclusive Executive Masterclass On Leadership, Excellence, and Advanced Development

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The All India Gem & Jewellery Domestic Council (GJC), the apex body of India’s gems and jewellery sector, is building on the resounding success of last year’s inaugural edition by advancing its landmark collaboration with IIM Ahmedabad through GemLead Focus an exclusive executive masterclass designed to redefine leadership, excellence, and advanced development for the industry.

This year’s programme, held from 31st August to 3rd September 2026 at the IIM Ahmedabad campus, brings together leading professionals and entrepreneurs from the gems and jewellery industry for an immersive residential learning experience led by IIMA’s distinguished faculty.

Adding to the programme’s impact, esteemed guest speakers Mr. Pankaj R. Patel, Chairman of Zydus Lifesciences, and Mr. Sandeep Engineer, Managing Director of Astral Polytechnik Ltd., will share their distinguished experiences and perspectives. Through immersive indepth interactive sessions, they will provide participants with invaluable insights, offering opportunities to engage directly with industry leaders and draw meaningful learnings that can be applied to their professional and business journeys.

Participants will explore a curated mix of high‑impact topics, including:

Family Business and Scaling Up

  • Family Business Dynamics: Hurdle to Growth
  • Professionalisation in Family Business

Strategy and Behaviour for Growth

  • Leading for Growth
  • Preparing and Executing Business Strategies
  • Developing and Empowering Human Capital

Valuation and Wealth Management

  • Valuation of Early Stage Firms and Understanding Cost of Capital
  • M&A – Deal Arithmetic
  • A Goal‑Oriented Asset Allocation Approach for Wealth
  • Legacy Wealth Management for Multiple Generations

Rajesh Rokde, Chairman, GJC:

“GemLead Focus continues to shape the leadership pipeline of the gems and jewellery industry. Through this collaboration with IIM Ahmedabad, we aim to provide our members with transformative learning that helps them scale their businesses, drive innovation, and embrace global best practices. By integrating insights on family business professionalisation, strategy execution, and wealth management, this programme empowers our members to lead with clarity, innovate with confidence, and build resilient, future‑ready enterprises.”

Avinash Gupta, Vice Chairman, GJC:

“We are delighted to continue our collaboration with IIMA through GemLead Focus. The gems and jewellery sector is a vital contributor to India’s economy, and this programme is tailored to strengthen leadership, enhance managerial excellence, and prepare industry leaders for future challenges. The addition of distinguished guest speakers further enriches the learning experience, offering perspectives that will inspire participants to think beyond boundaries.”

Ketan Choksi, Convenor, GemLead:

“GemLead Focus builds on the strengths of GJC and IIM Ahmedabad to deliver a transformative learning experience exclusively for the gems and jewellery industry. Designed to provide actionable insights and practical tools, the programme equips participants to drive sustainable growth, enhance competitiveness, and lead with excellence in a rapidly evolving business landscape. The inclusion of eminent guest speakers ensures that participants gain perspectives from leaders who have successfully navigated diverse industries.”

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