Having been pioneers in jewelry industry with legacy of nearly two centuries, Purushottam Narayan Gadgil (PNG) stepped up presence in Goa burgeoning gold market recently with launch of its second store in Margao. Here, Saurabh Gadgil, chairman and the managing director, PNG Jewelers, speaks to Roque Dias on various issues. He says that, PNG’s gold deposit scheme and free gold weighing and polishing will become popular with many gold loving Goans
Q: You have opened a second jewelry store in Margao. How will it be different from others?
Goan are artistic. They love designed gold. We had Goan customers coming to our Pune jewelry store. They demanded that we open a store. Two years ago we opened our first outlet in Panaji. Film actress Raveena Tandon inaugurated it. Today, in Margao too she did the opening. I know there is a challenge in finding a space in Goa’s gold market. Nevertheless I have accepted it and now plan to mark my presence. The new store is a logical milestone in the course of our 185 year old journey which is synonymous with able craftsmanship, purity, endurance and trust. Gold enthusiasts approach PNG Jewelers with the belief that they will receive value for money in every way.
Q: Unlike your competitors, PNG still encourages hand-made jewelry. Why is it so?
We do both, machine jewelry as well as handmade jewelry. Wherever human intervention is needed we go for it. Casting finger rings, chains, stone, diamond setting are normally done by hands. We offer a wide range of ornaments and artifacts made of silver, pearl, diamonds and precious stones besides the gold. PNG believes that continuation of handmade jewelry also helps in giving employment to gold artisans.
Q: Your first 185 years old jewelry store in Sangli is still well maintained. What is the secret behind it?
I am told that my forefathers first sold gold along the roadside in Sangli. That time there were no stores. Gold was weighed in kilos and sold on the roadside like any other items. One gram of gold was sold for one rupee. This was time when my forefather thought of starting the jewelry store. Our brilliant success saga in the history of jewelry in India began in the year 1832 at Sangli and later Dajikaka Gadgil took the brand to newer heights with his creative instincts. Today, we have 20 branches across the country and also in the USA and Dubai. People have reposed faith in us. It is the foundation of our expansion in jewelry stores and other related businesses.
Q: Goans are found of jewelry. Since you are in the Goan market since last few years tell us about the kind of gold Goans prefer?
Goans are proud of Gold. They mostly prefer artistic and well designed jewelry and never bother about the price. I met many Goans friends in Kuwait and Dubai who are found of artistic gold and other precious stones. Goans also like value driven investments. We have developed their taste in well designed jewelry and won their trust. PNG is now the choice in Goa. With the opening of the new store in Margao our service will be extended to the people of south Goa.
Q: But in recent times, there is threat of robberies in Goa …
PNG has a solution to it. We have gold deposit scheme and that can lessen the risk factor. There are other supporting gold schemes to help the common man in saving their money. People can opt for gold at the present rates for their children and can pay it in installments. We also do free testing and polishing. We are trying to help the people here in the best way we can.