Open Letters from Industry Stalwarts - Word to the Wise

The world has collectively gone through an unspeakable year. Loss of family members, friends, colleagues and acquaintances; the virus might’ve permanently altered the way some of us look at life. Many of us are bereft of hope, we are not able to see the light at the end of the tunnel. But this too shall pass, and as humans we are bound to come out of this hardship together. Here are some encouraging words penned by some industry stalwarts.

- Sugandha R

TS Kalyanaraman, Chairman & Managing Director, Kalyan Jewellers

As part of the larger society, we must also acknowledge that each of us has a personal responsibility in containing the spread of the virus. Lessons on hygiene and masking up need to be imparted to everyone

Last year, we watched a never-seen-before crisis envelope the world. A year later, COVID-19 continues to be an ‘invisible enemy’, sparking paranoia and fear. The current second wave seems to be having a higher impact on our already-damaged infrastructure.

As an industry, we have managed to steer to safe waters after the first wave. Now with the second, it is good to remember what our past experience has taught us. Gold as an asset class will see a demand revival from the deferred spending and weddings which have been rescheduled.

In the meantime, our industry could rally together to introduce initiatives that make jewellery shopping more convenient for consumers and cost effective for retailers. Revamping business models in lieu with the changing times, reducing operational expenditure, rationalising spends and re-evaluating priorities are just a few things that we can do for our own business and enterprises.

As part of the larger society, we must also acknowledge that each of us has a personal responsibility in containing the spread of the virus. Lessons on hygiene and masking up need to be imparted to everyone. It is also imperative that we create awareness about vaccination and encourage employees to get vaccinated. Together, as an industry and as a nation, we will face and overcome these testing times, and soon emerge stronger, agile and resilient.

K Srinivasan, MD, Emerald Jewel Industry