Sanjay Kothari – KGK Group - Embracing Digitalization the Way Forward, says Sanjay Kothari of KGK Group

The global pandemic has taught many lessons to businesses – one of the more rewarding ones is embracing digitalization in a more meaningful way. Sanjay Kothari talks about how KGK has learnt to complement the offline business with online savvy

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Q: How can the jewellery manufacturing business adapt to the digital world?

Sanjay Kothari (SK): Digitalization has been the trend in almost all sectors of the economy. But the Gems &Jewellery(G & J)industry was, by and large, running offline, until it was hit by the Covid-19 crisis, which severely impacted economies and industries globally, leading to one of the worst downturns in the history of humankind. The G & J industry holds an important place in the country’s economy, accounting for 7% of the GDP. It witnessed a significant change in the business outlook because of Covid. Amidst all the uncertainties, the industry started seeing digitalization as a way to move forward.

It has finally started valuing technologically advanced infrastructure as an asset. And this applies not only to E-commerce and social media presence, but also technological advancements and artificial intelligence for manufacturing processes.

The ability to customize and personalize products with 3D design tools is going to be path-breaking. 3D Printing will also permit direct metal printing, eliminating the need for moulds and other machinery. With digitally driven tools, such as electroforming, the emergence of affordable, lightweight jewellery has become possible. In addition, with technology like blockchain, transparency and trust will no longer be a concern. Gemstones and precious metals will be traceable back to their source, giving a fillip to ethical practices.

Q: What are the major “do”s and “don’t”s which a manufacturer needs to watch out for when going digital?