Accelerating Family Businesses- A case of Treasure Trove "Khandelwal Jewelers"

The unorganised sector in India has been contributing to the growth of economy since long times. National Account Statistics happens to use the term “Unorganised sector” instead of “informal sector”. Despite the drawbacks like getting disappeared from the mainstream documentations, accounting and records, as this sector provides plenty of employment opportunities, has been a foremost choice for the less educated and unskilled mob that can be trained for a short period and contribute to better functioning of the organisation. The Indian gold, gems and jewellery unorganised sector is a symbol of trust for majority of Indians who go by the conventional mechanism of purchase. There are approximately 2.8 million unorganised jewellery outlets in India. Somewhere around 2000, as high as 90 percent retail gold outlets in India were falling under unorganised category. With an electrifying presence of globalisation, privatisation, liberalisation, digitisation unorganised sector is transforming into organised one. The pace of diffusion of innovation for varied outlets may differ but the awareness and consent for the same is appreciable indeed! Family businesses from the corners of India are experimenting. The younger generation is eager and instrumental in this phenomenon.