A net-worth of $2.6 billion, and yet Rajesh Mehta leads a simple and humble life. Building the name ‘Rajesh’ as a brand required effort despite his name being considered a ‘lucky charm’ in his family. His out-of-the-box thinking and a diligence-infused approach helped him establish Rajesh Exports as a premier gold company around the globe. One might think of him as a typical Gujarati businessman, with an eye for money, but this leaf falls far from the tree. It’s because his childhood was rife with genteel teachings inculcated by his parents, with a dash of academic achievements. Rajesh’s upbringing motivated his will to be a doctor, to serve humanity. But fate had different plans for him.
Rajesh Mehta Owner of Rajesh Exports Ltd, The Lucky Mascot
Rajesh Mehta’s entrepreneurial journey started early. He worked as a helping hand for his father in their family business that dealt with precious stones. His father named the business after him, as he was considered a lucky boy. The time Rajesh spent with his father, earned him a lot of experience and inspired him to start something of his own.
A Business that Grew Tremendously Under Rajesh Mehta
A loan of Rs 1,200 from his elder brother worked wonders for Rajesh, the future billionaire. With that money, he sought silver jewellery from Chennai. He sold the precious metal trinkets to his relatives and friends and made a huge margin of profit. This pushed him to do more. After several more such trips, Rajesh Mehta steadily moved towards the gold industry.
Southward ahoy!
South India had a glittering jewellery market in the late 1980s. The variety in exotic and attractive gold jewellery of India’s southern part was unrivalled. Nakshi, Poki, Guttapulasu Haram, Mango Mala, and PacchiJewellery were big hits in other parts of India, especially Gujarat. Owning these plated and pure-gold items was considered a mark of the affluent, in spite of their easy availability and just price. The demand for South Indian jewellery swelled magnificently, and Rajesh Mehta, with his pure business acumen, satiated that demand. Within a short span of time, his profits transcended the Rs 1 lakh-mark on every transaction. This surging business now became Rajesh Art Jewellers.
A gilded superpower emerges
‘Rajesh Exports’ was incorporated in 1990. This was the same time when Rajesh Mehta’s business was touching new heights. Rajesh had an eye for detail and found out ways to use the Gold Control Act of India. This Act did not allow gold companies to manufacture gold domestically. The alternative was to export the gold products, which Mr. Mehta adopted. This proved to be a major game changer. Soon, the business returns increased to Rs 10 crore. They established a booming market in the Gulf, the US, and Europe. All of these contributed to Rajesh Mehta’s net worth peaking to $2.6 billion.
The Valcambi Refinery in Switzerland is a jewel in the crown for Rajesh Export. With this acquisition, Rajesh Mehta hopes to build his company and country into a gilded gold superpower.
