INTERNSHIP REPORT

DEWAKI JEWELS

& GEMS

INDIAN INSTITUTE OF

MANAGEMENT & COMMERCE

By

Dharnish Kumar Agarwal

Roll No. : 110013407026

B.com (HONORS) III Year

Acknowledgement

The internship opportunity I had with Dewaki Jewels & Gems was a great chance

for learning and professional development. Therefore, I consider myself a very

lucky individual as I was provided with an opportunity to be a part of it. I am

grateful for having a chance to meet Mr.Girish Kumar Goyal who led me though

this internship period and also Mr.K Raghu Veer (Principal), Mrs. Satya Sudha

(Vice Principal), Mrs.Swapna (Faculty) to my college INDIAN INSTITUTE OF

MANAGEMENT & COMMERCE who provided me the opportunity to do so.

I perceive this opportunity as a big milestone in my career development. I will

strive to use gained skills and knowledge in the best possible way, and I will

continue to work on their improvement, in order to attain desired career objectives.

Hope to continue cooperation with all of you in the future.

SIGNATURE

CONTENTS

Company Profile . . . . . . . . . . . . . . . . . . . . . 1

o History. . . . . . . . . . . . . . . . .. . . 1

o Business. . . . . . . . . . . . . . . . . . . 3

o Production Process. . . . . . . . . . . 4

o Departments. . . . . . . . . . . . . . . . 6

Job Details. . . . . . . . . . . . . . . . . . . . . . . . . . 7

o Timeline. . . . . . . . . . . . . . . . . . 7

o Objective. . . . . . . . . . . . . . . . . . 7

o Designation. . . . . . . . . . . . . . . . 8

o Role. . . . . . . . . . . . . . . . . . . . . . 8

o In Detail. . . . . . . . . . . . . . . . . . . 8

Conclusion. . . . . . . . . . . . . . . . . . . . . . . . . .10

Company Profile

Dewaki Jewels & Gems Pvt.Ltd is a jewellery manufacturing firm situated in the city of

Hyderabad. It basically deals in “Temple jewellery” or “South Indian jewellery” and is one of the

first and finest manufacturers of Temple jewellery in Hyderabad. It has a large market base in

Hyderabad as well as other cities like Bangalore, Chennai, Mumbai, Jodhpur, Coimbatore and

Surat.

History

Dewaki Jewels & Gems Pvt. Ltd was established in the year 1992 on the 6th of December as

“Dewaki Gems”, a sole trading concern dealing only in precious stones by Ramesh Chandra

Goyal. On the day of its inauguration a curfew was declared in Hyderabad due to the riots and

protests by the Muslims in Hyderabad which were caused by the demolition of Babri Mosque in

Ayodhya, but still it was inaugurated successfully and started its’ business only after the curfew

was removed.

In the first few years of its’ establishment, Dewaki only dealt in precious stones like Ruby,

Emerald, Blue Sapphire, Yellow Sapphire, Cat’s eye, Flat diamonds, Cut and Uncut diamonds,

Pearls and various other non-precious stones like Corals, Cosmic zirconium, etc. It was then also

a wholesale firm which sold these stones only to jewellery manufacturers on a contract basis.

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After a few years as Dewaki gained name and fame in the market Mr. Goyal wanted to expand

its business so he decided to enter the field of jewellery manufacturing in 1997.At first he

surveyed the market to know the tastes and preferences of the customers in Hyderabad as well as

Bangalore. First he started production on a very small scale producing small items like rings, ear

rings, nose pins, etc. He personally used to go to showrooms to show his creations but always got

rejected by big showrooms. But after many rejections and hardships finally one showroom in

Bangalore, name “Swarna Jewellers” liked the designs and then the journey from “Dewaki

Gems” to “Dewaki Jewels & Gems Pvt. Ltd.” Started and in just four years it established a good

customer base in Bangalore. Although it’s Hyderabad market was still weak it kept on growing

due to its increasing customer base in Bangalore.

Dewaki was doing business smoothly and establishing itself in the market but in 2002, due to the

sudden demise of Mr. Goyal it came to a standstill as his two sons were not very experienced in

the field of business so it came to the same position as it was back in 1997. However they

learned quickly from their mistakes and took Dewaki to even greater heights. Today Dewaki is a

registered small scale private company with a net worth of about Rs.25Crore and an average

turnover of about Rs.60 Crore.

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Business

Dewaki was started as a sole trading concern dealing in precious stones but today it has

expanded its business drastically and not only deals in precious stones but also manufactures

jewellery. With every year passing Dewaki is able to increase its customer base, sales as well as

annual turnover. It mainly deals in “Temple jewellery” and “Flat Diamonds jewellery”. Temple

jewellery does not mean jewellery for temple gods but it is a term used for those jewellery items

which are completely of gold with carvings of gods or other designs and contains minimum or no

stones.

There are very few jewellery manufacturing firms in India which deal in jewellery with carvings

(popularly called in the field as “Nakshi jewellery”) and Dewaki is one of them. Thus, the

demand for such jewellery is high in the market especially in the south and the supply is not able

to meet the demand. Some of its other designs that are famous in the market are:

Peacock Bangles – in different variations of stones ;

Double Line Necklaces – in different designs as well as stone combination ;

Chandbalis or Moon earrings – in various sizes, stone combinations and designs ;

Jumkas – peacock, flower, round and some other variations ;

Temple designs like Goddess Durga Necklace, Ganesh Pendant, Balaji Pendant, etc.

Some of its important clients include Musaddilal&Sons, MamrajMusaddilal, Surya Jewels,

Abharanam Jewellers, Tatiwala’s, Sri Krishna Jewellers, etc.

3

Production Process

The production process to manufacture jewellery is a very lengthy process which might extend

up to 10 days even for a small item like an earring. Any jewellery item goes through the

following stages of the production process:

Designing – This is the first or the initial stage where the item to be produced is drawn

roughly on a paper and when the design is approved then it is finally drawn on the butter

paper. This is the most important stage because the design plays the most important role

and for this a professional designer is hired. This job requires a lot of innovation and

creativity because every design has to be different as well as it should be good enough to

be made into a physical item.

Trial–Once the design is finalised, a copy the design is given to the goldsmith who

makes a trial model using either bronze or silver. If the trial is successful then the demo is

preserved for future use which is called “Master” and this master is given a unique

number and can be used whenever the same design has to produce.

Wax Tree –After the master is prepared, this Master is used to prepare what is called a

wax tree. A wax tree is in the form of a tree and instead of leaves it contains the various

parts of the item to be produced. A jewellery item cannot be produced in a single piece

and thus, it has to be produced in pieces and then joined or soldered.

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Gold Tree –Soon after the wax tree is prepared it is placed in a big container and plaster

is poured on it. Once the plaster hardens, the plaster block is placed in a heating machine

where the plaster block is heated until the wax vaporizes and immediately without any

delay heated liquid gold is poured into it. Then it is cooled down so that the gold hardens

and takes the shape of the wax tree. The plaster is broken and the gold tree is ready.

Soldering – After the tree is ready, its leaves (pieces) are cut and soldered accordingly

using a special gold soldering machine. Now the basic structural design is ready.

Carving or Nakshi–Once the solid structure is ready if there are any carvings to be

engraved according to the design, it is sent to the engraver who engraves the required

design.

Polishing–Now the item is dipped in hot boiling acid so that all the impurities, if any, are

removed. Then it is dipped in gold water to enhance the colour and lastly polished in a

buffing machine.

Stone Setting –After all the above initial stages are done, the next stage or the

intermediate stage is of stone setting. In this stage, the goldsmith assorts the stones

according to the requirement and sets them in the jewellery item.

Finishing – Now that the item is ready as per the final design, some finishing procedures

like final polishing, Gillette and Bandhini are performed to enhance its look. The final

product is ready for sale.

Note: On an average the above stages take about 8 days to complete before the final

product is ready for sale.

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Departments

There are no departments as such but the organization can be divided into three parts:

Issues cum Stores department –It is the main department of the organization whose

work is to monitor the stock of raw materials as well as issue the materials required for

production to the goldsmiths. This department is handled by a manager under whom four

people worked. This department can be called as the heart and brain of the organization.

Factory or Production department –This is the place where all the production

procedure takes place. This department is managed by the head goldsmith who employs

fifty people under him who perform all the production work. The head goldsmith

supervises them and is answerable to the owners. The factory is both the living place as

well as the work place for the goldsmiths.

Main Office – It is where the owners sit and manage all the activities. All the sales

activities, client dealings and accounting activities are performed in the main office. It is

the control centre which organizes and manages the other two departments.

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Job Details

Timeline:

The period of internship was six months from August 5th, 2014 to February 5th, 2015.

Objective:

To learn the practicality of business and the applications of theoretical knowledge in the

practical field of business. During this internship I have learnt many new skills. Before

taking up internship I had only theoretical knowledge about work in an organisation

but now I have some practical experience of working in organisation. Now I have

knowledge about the organisation’s working environment and how organisations work

and achieve their goals and objectives.

This internship has given me the understanding of business and also about the

elements of strategic thinking, planning and implementation, and how these things are

applied in a real world organisation environment. Following are the objectives that

I have in my mind before working as an internee.

o To improve communication skills.

o To analyse the business situation.

o To establish high standard in professionalism.

o To learn more than the theoretical knowledge.

o To apply the theoretical knowledge in actual organisation.

o To compare practical aspects with theoretical aspects.

o To make quick decision in real situation.

o To learn how to promote and to conduct research in business area.

o To promote my personal knowledge and professional preparation for future.

o To properly integrate my theoretical knowledge and practical work.

o To get knowledge of opportunities and threats while entering into an organisation.

o To get exposure to do a work in an organisation and also known about

organisational behaviour, ethical rules and regulations.

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Designation:

Associate Junior Manager in the Issues cum Stores department.

Job Role:

My role there was to maintain the daily accounts of the issues of raw materials to the

goldsmiths as well as looking over the stock of raw materials like various stones, etc.

required for the process of production.

In Detail:

This was a non paid internship as I was an amateur and went there to learn how a

business works. In the first two weeks of my internship I was not given any responsibility

or work but rather I was made to sit and taught how the daily transactions took place and

how to record and analyse them.

In the next two weeks I was given the responsibility of recording the issues to the

goldsmiths in the books. It looked very easy but it was difficult because minute things

also have to be looked upon with even focus. Even a small mistake in recording an issue

can cost a lot to the organization because gold is a very expensive metal. In the initial

stages I made a lot of mistakes in recording the transactions but as time passed I learned

from my mistakes and within a month learnt about all the issues and the maintenance of

stock.

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After two months of working there I was given the responsibility of both managing the

issues as well as stock, however, the manager always supervised my transactions but it

was a huge morale boost to be given such a big responsibility. Since then I worked with

full dedication towards the organization in order to achieve both organizational as well as

self goals.

During my internship in this organization I was even provided with an opportunity to

attend the most important and the biggest jewellery exhibition in India – The “IIJS”

(India International Jewellery Show) taking place in the month of September every year

in Mumbai. It was a great learning as well as a fun experience visiting the exhibition,

meeting lots of other traders who had installed jewellery counters with their firm names.

It is the biggest jewellery exhibition in India where traders from all over the world come

together to put up a brilliant display. It can be called as a jewellery carnival. Visiting the

exhibition I learnt how to communicate and handle customers effectively. Overall it was

a great learning experience working as an intern in the organization.

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Conclusion

It has been an amazing journey working with the organization which always strives to

provide quality product and service to its customers. This internship has taught me a lot

and I will be grateful both to Dewaki and my college who helped me complete my

internship successfully.

Prior to the internship I was a shy person who was unable to communicate with people

effectively and possessed only theoretical knowledge about various subjects like

accounting, business ethics, human resource management, stock management, etc. After

interning for about six months in the organization I learnt not only communication skills

but also my decision making skills improved. I also got a practical insight into the

theoretical subjects by practically applying them into the business world during my

course of internship.

Dewaki is a reputed firm which follows all the rules and regulations and always strives to

provide its customers the best quality products. Every ornament that is made is

hallmarked that justifies the purity of the gold used to make it which makes it

trustworthy. The making charges are also less as compared to other manufacturers

because it has a very cost effective production process.

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Thus, to sum up my experience at Dewaki, I can say that these six months have been a

great learning experience for me as I have learnt how an organization is run, how the

human resource is managed, the production procedures, pros and cons of a business and

most importantly theoretical subjects as a practical experience. This internship has

definitely provided me with valuable knowledge and experience which will be helpful

throughout my career and provide me a competitive advantage over others. I will always

remember the things I have learned during my six month internship period.

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