This is our third day staying in Bangalore. Up to now we have made a lot of discoveries and got to know the Indian way of doing business more closely. Half way through our on-site trip we have experienced a lot of contrasts and gained insights into the Indian way of life, among others how to adjust time to local standards.
Did you know – India buys 40% of the world’s gold production which is about 1’000 tons of gold. Today, we have visited «Rajesh Exports», which manufactures gold and silver jewellery. This company is one of the largest and most efficient manufacturers in the entire world. 145 tons of gold are traded and processed by «Rajesh Exports» on an annual basis. Most gold comes from mines located in Africa and a small amount comes from recycling in India. There are about 3 million people manufacturing gold in India.
During our visit at «Rajesh Exports» we experienced a presentation with a lot of valuable and fascinating facts about the company itself and the gold market. The owner gave us a lot of inside knowledge about the global gold trade, how they hedge their business and how they manage their value chain. We had the opportunity to enjoy a guided tour through the production site. At the Bangalore plant «Rajesh Exports» produces high quality gold jewellery. It was amazing to see the well organised working atmosphere with highly concentrated employees working on their machines and producing beautiful jewellery parts. Seeing every step in the production of the jewellery from the bare material to shiny and glamorous rings, necklaces, bracelets, earrings and so on was amazing.
To ensure that no gold goes missing in the factory the workforce receives a measured amount of gold in the morning and has to return the same amount of this valuable metal at the end of the day.
We were fascinated by the jewellery, which seems to be one of the most shining and persuasive symbol of richness, power and love. We are thankful for this exciting and well organised visit.
Mark Sterchi, Frank Erb
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