May 12, 2023

GJC NEXTGEN was an overwhelming success

Updated: May 13, 2023

GJC plans a bigger edition with an expanded scope

GJC conducted their NEXTGEN jewellery industry youth conference, titled Young Entrepreneur: A game changer in jewellery business, on May 11, 2023 at The Intercontinental, Mumbai. NEXTGEN Conference is the jewellery industry’s most innovative, collaborative and responsible forum for the next generation of leaders.

The conference was conducted by Shabbir Vasaya, founder Acme Consulting, business strategist and consultant who has closely worked with jewellery industry. Shabbir Vasaya is a game changer for the jewellery industry, and his ability to handhold the current generation as they learn the ropes, is well known across the jewellery industry.

There was an encouraging response: over 70 participants from Mumbai, Pune, Nagpur, Beed, Rajkot, Amreli, Vapi, Kolkata, Jamshedpur, Odisha, and Coimbatore were present at the seminar.

Nilesh Shobhawat, Convenor, GJC NEXTGEN said "This conference is to address the next generation of the jewellery industry. NEXTGEN is a platform to discover the next generation of leadership and champions of gem and jewellery industry."

Rajesh Rokde, GJC Vice Chairman, said "Change is inevitable and the next generation has to be ready to adapt. Looking at you Gems, the young entrepreneurs in front of me, I am certain GJC will not look back."

Saiyam Mehra, Chairman GJC, welcoming the participants at the GJC NEXTGEN conference, said it was overwhelming to see such an encouraging participation across India. He encouraged the young entrepreneurs to involve themselves in development of the jewellery industry by actively participating in trade federations' activities, and even aspiring to be members of managing committees of GJC and other trade bodies. He invited the youth present to participate in domestic and international roadshows for GJS, and connect with the trade.

Shabbir Vasaya jolted everyone to attention by saying that he was not here to make a motivational speech.” I am a business strategist who is here to help you become a successful entrepreneur”, said Vasaya. He explained that he was here to provide valuable insights and strategies for the new generation that will be driving the growth and expansion of the current business.

Vasaya at the very outset said that one needs to be ambitious, hungry for success. He then proceeded to analyse the different mindset between the first generation and young blood that wishes to transform things in a hurry, and the more conservative mindset of the previous generations. He said building mutual trust and reducing the friction between the opposing mindsets was the foundation for a successful transition.

The gen next was present here today because they were flexible, open to absorb and learn, technology savvy, and most importantly they were the future decision makers and strategists, driving their companies forward.

A disciplined mindset is crucial for business, and having a regular schedule of going to showroom or spending time with various departments and discipline to implement and execute were crucial.

Vasaya listed three important aspects that the next gen needs to address. Firstly, build TRUST between the two generations. Secondly, put in place detailed PROCESSES for every aspect of the business, which can be monitored, reviewed and can define accountability for team members. Thirdly, identify CONSTRAINTS, which include lack of finance, lack of competent staff, and friction between the two generations. And, most importantly, the need to resolve these constraints.

Vasaya led the young entrepreneurs along the jewellery industry ecosystem: understanding finance, ROI, profit, allocation of budgets for expansion and growth. Other aspects of the business which included employee hiring, retention, upskilling and rewarding , marketing and branding deploying technology and social media, customer relationships, operational efficiency, compliances.

Vasaya conducted a very interactive session and engaged skilfully with young leaders. The participants on their part were sharp and intelligent in their interaction. The NEXTGEN was a super success and the insights, perspectives and strategies imparted were invaluable. Shabbir Vasaya's connection and engagement with every participant took the conference to another level.

Suyash Sanjay Agrawal, Co-Convenor NEXTGEN said “The participation was overwhelming and the feedback received at the conclusion was very encouraging. And, importantly, the quality of the participants was excellent."

Suyash Sanjay Agrawal said that GJC was going to reach out to a larger target audience and ensure a larger and even better NEXTGEN conference." We will reach out to many more members of the trade and industry, and request them to join this initiative", said Agarwal.

Nilesh Shobhawat said GJC is encouraged by this success to expand the scope of NEXTGEN. He said the plans for the future include similar value seminars, factory visits, introduction to cutting edge technology, academic tie-ups with universities and institutions and involving the new generation in social development initiatives.