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VIDEO INTRODUCTION:
The diamond industry of India is one of the most valuable industries in the country, and while most of us know Surat as the Diamond capital of India, very few us know that in 1970s, India was nowhere to be found in the diamond market!! This market was tightly controlled by the Jews of Belgium!! But In the next 3 decades, a community from India did something so brilliant, that they went on to become the most dominating force in diamond market of the world!!
This community that I am talking about is none other than Jain community of India!!! and the Jains have done such an amazing job, that today, India commands a staggering 93% market share in the cutting and polishing market of the world, we exported 23 Billion dollars
worth of Diamonds, and it accounts for an insane 10% merchandise exports of India!
So the question is,
How did the Jains take control of the diamond industry of the world???
How did they beat the jews of Belgium?
What was the business strategy that made them so successful?
What are business lessons can you learn from the incredible community Jains??
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✅ Study Materials:
https://www.naturaldiamonds.com/in/inside-the-world-of-diamonds/surat-the-heart-of-natural-diamnond-cutting-polishing-industry/
https://www.isc.hbs.edu/Documents/resources/courses/moc-course-at-harvard/pdf/student-projects/India_%28Gujarat%29_Diamonds_2008.pdf
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