Rajesh Mehta
Rajesh Jaswanth Rai Mehta | |
|---|---|
| Born | June 20, 1964 Bengaluru, India |
| Occupation | Entrepreneur |
| Known for | Owner and executive chairman of Rajesh Exports |
| Notable work | Founder of Rajesh Exports, Shubh Jewellers, and acquirer of Valcambi Exports |
Rajesh Jaswanth Rai Mehta (born 20 June 1964) is a prominent Indian billionaire entrepreneur headquartered in Bangalore. He serves as the owner and executive chairman of the jewellery enterprise Rajesh Exports. According to an April 2017 assessment by Forbes, his net worth was estimated at $2.6 billion, placing him as the 61st wealthiest individual in India.
Early life
Rajesh Mehta was born in Bengaluru to parents Jasvantrai and Chandrika Ben Mehta. He was raised in a modest Jain household alongside his three brothers: Bipin, Prashant, and Mahesh. His father relocated from Morbi (Gujarat) to Bangalore in 1946 and shifted from private sector employment to establish a semi-precious stone trading firm named ‘Rajesh Diamond Company’ in Gujarat.
Career
Mehta completed his schooling at St. Joseph’s School and pursued two years of higher education at National College. Although he initially aimed for a medical career, he eventually joined his father’s jewellery business with his brother Prashant. Beginning with a Rs 1,200 loan provided by his eldest brother Bipin, he initiated a silver trading venture by buying jewellery in Chennai and reselling it profitably in Rajkot. Expanding his distribution network to retailers and wholesalers throughout Gujarat, Bangalore, Chennai, and Hyderabad, he contributed to the nationwide popularity of various ethnic Indian jewellery styles. He founded ‘Rajesh Art Jewellers’, utilizing barter deals that enhanced capital by approximately 50% each cycle.
In 1989, Mehta shifted focus to gold jewellery and launched ‘Rajesh Exports’ starting with a manufacturing unit staffed by 10 employees operating out of his Bangalore garage. The company exported gold products to destinations such as the UK, Dubai, Oman, Kuwait, the US, and Europe, increasing turnover from INR 20 million in 1992 to INR 1.2 billion by 1998. Additionally, he established ‘Shubh Jewellers’, a retail chain now comprising 81 outlets across Karnataka—one of India’s largest gold-consuming regions.
Rajesh Exports
Founded by Mehta and his brother Prashant in 1989, Rajesh Exports quickly emerged as a leader by setting up India’s first organized gold jewellery manufacturing plant and inaugurating the nation’s initial jewellery sector research and development center in 1991. Today, Rajesh Exports processes about 35% of global gold supply and is listed on both the NSE and Bombay Stock Exchange (BSE). It achieved a ranking of 423rd on the Fortune 500 list.
Valcambi Exports
In 2015, Rajesh Exports expanded its global footprint by acquiring Valcambi, the world’s largest gold refining company located in Switzerland. Valcambi annually manufactures approximately 400 tons of small gold bars along with 500 tons of kilo bars, all accredited by the London Bullion Market Association (LBMA).
Awards and recognition
- Udhyog Shree Award
- Jeweller of the Year Award from the Karnataka Government
- Jain Bhusan honor bestowed by Jain Social Group
- Outstanding Businessman Award from Harun Business Institute of China
- Indian Affairs Transformational Business Leader of the Year 2018 awarded by India Leadership Conclave
- Indian Affairs Transformational Business Reformer of the Year 2021 presented by India Leadership Conclave
Personal life
Rajesh Mehta is the child of Chandrika Ben Mehta and is married to Leena Mehta.
Their son, Siddharth Mehta, manages the IT department at Rajesh Exports in Bangalore, where he focuses on creating tailored software solutions for the company’s internal processes.