In the latest edition of<\/em> Simple Hai!, veteran journalist Vivek Law spoke with Colin Shah, Founder and Managing Director of Kama Jewelry, about geopolitics, gold, entrepreneurship and the values behind his business journey.<\/em><\/p>\n\n\n\n With gold prices at record highs, Colin Shah explained how global disruptions continue to weigh on India\u2019s jewellery sector. US tariffs, he said, hit exports hard, with shipments falling nearly 50% between April and June. Initially, customers absorbed the 16% duty, but further hikes made the burden unsustainable, resulting in layoffs across hubs such as Surat, Mumbai and Rajasthan.<\/p>\n\n\n\n \u201cThe sector faces a crisis every few years\u2014GST, demonetisation, hallmarking, COVID-19. We\u2019ve become immune to global disruptions,\u201d Shah said. However, he stressed that overdependence on the US remained risky. Manufacturers, including Kama Jewelry, are therefore diversifying into GCC countries, South America and India\u2019s domestic market. He also underlined the need for Free Trade Agreements with large economies to improve competitiveness.<\/p>\n\n\n\n Despite the setbacks, Shah remains optimistic. \u201cConsumption is rising steadily. Even if exports take a hit, the domestic market will remain strong.\u201d India has already surpassed China as the world\u2019s second-largest jewellery consumer after the US.<\/p>\n\n\n\n Shah highlighted the growing popularity of digital gold. While rural India has traditionally viewed jewellery as a form of savings, urban millennials\u2014once more focused on experiences\u2014are increasingly looking at gold as an investment.<\/p>\n\n\n\n \u201cOver the past five years, gold has outperformed the Nifty,\u201d Shah noted. Digital gold platforms have made ownership more accessible and transparent. Much like UPI transformed payments, he believes digital gold is formalising a traditional asset class while creating new opportunities for the jewellery industry and the wider economy.<\/p>\n\n\n\n Shah projected that gold prices could cross $3,000 per ounce by 2026. He pointed to geopolitical conflicts, inflationary pressures and de-dollarisation, with central banks reducing their dependence on US bonds and increasing gold holdings, as key drivers.<\/p>\n\n\n\n \u201cWith annual production capped at 3,000 tonnes, demand will continue to outstrip supply,\u201d he said, reinforcing gold\u2019s position as a safe-haven asset.<\/p>\n\n\n\n Unlike peers that operate across retail and wholesale, Shah has kept Kama Jewelry focused on B2B manufacturing. The company produces everyday-wear jewellery in gold, platinum and silver, using both natural and lab-grown diamonds.<\/p>\n\n\n\n Priced between \u20b910,000 and \u20b91 lakh, its designs are aimed at delivering fast turnover and healthy margins for business partners. Shah noted that the jewellery industry itself is becoming increasingly professional, with more corporate entrants, IPOs and private equity investments.<\/p>\n\n\n\n Kama Jewelry aims to position itself as a trusted partner in this evolving ecosystem. Shah also shared that his two daughters have recently joined the business, bringing fresh ideas and creativity to what has now become a family enterprise.<\/p>\n\n\n\n Born into a family of doctors, Shah was initially expected to pursue medicine. However, after the Mandal Commission reforms and a discouraging experience at a medical college, he changed direction.<\/p>\n\n\n\n He experimented with accounting and electricals before a friend introduced him to a diamond-grading course. That became his entry point into the gems and jewellery industry.<\/p>\n\n\n\n As a first-generation entrepreneur, Shah had no family legacy to fall back on. He spent years learning rough manufacturing, assortment and jewellery making. \u201cThose first ten years were the toughest, but they taught me everything,\u201d he recalled.<\/p>\n\n\n\n Today, he believes that while AI tools have made knowledge more accessible, success still requires entrepreneurs to roll up their sleeves and work hard.<\/p>\n\n\n\n As the conversation closed, Shah reiterated that values are as important as business strategy. \u201cJust as gold must pass through fire to attain purity, an entrepreneur must endure challenges to achieve success.\u201d<\/p>\n\n\n\n Despite global uncertainty, Shah remains optimistic about India\u2019s jewellery sector, particularly with the festive season approaching. He also welcomed government measures aimed at GST relief and improving the ease of doing business.<\/p>\n\n\n\n For Shah, the journey from a first-generation entrepreneur to building a \u20b9186.47 crore jewellery business ultimately comes down to the same principles that define the precious metal itself: patience, resilience, hard work and purity of intent.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" From Challenges to Carats: How Colin Shah Built a \u20b9186 Crore Jewellery Business In the latest edition of Simple Hai!, veteran journalist Vivek Law spoke with Colin Shah, Founder and Managing Director of Kama Jewelry, about geopolitics, gold, entrepreneurship and the values behind his business journey. How Are Geopolitical Disruptions Affecting India\u2019s Jewellery Industry? With […]<\/p>\n","protected":false},"author":6,"featured_media":319,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcast"],"_links":{"self":[{"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/posts\/318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/comments?post=318"}],"version-history":[{"count":1,"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/posts\/318\/revisions"}],"predecessor-version":[{"id":320,"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/posts\/318\/revisions\/320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/media\/319"}],"wp:attachment":[{"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/media?parent=318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/categories?post=318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesimplehaishow.com\/thesimplehaishow\/wp-json\/wp\/v2\/tags?post=318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}How Are Geopolitical Disruptions Affecting India\u2019s Jewellery Industry?<\/h2>\n\n\n\n
Why Is Digital Gold Becoming More Popular?<\/h2>\n\n\n\n
What Is the Outlook for Gold Prices?<\/h2>\n\n\n\n
What Is Kama Jewelry\u2019s Business Strategy?<\/h2>\n\n\n\n
How Did Colin Shah Enter the Jewellery Business?<\/h2>\n\n\n\n
What Does Shah Believe Makes an Entrepreneur Successful?<\/h2>\n\n\n\n