“The GIA credential instilled confidence and set me apart in this field that demands seriousness,”
– Varda Goenka
Managing Director, Varda Goenka Fine Jewels by Diagold
Can you share your journey in the gem and jewellery industry and some key experiences and milestones that have shaped your career?
Delving into this field was quite unconventional for me, considering my family had no ties to the industry. I was married and residing in Kolkata, which boasts of being a rich
artisanal hub that drew me in. Early on, I worked directly with artisans. My interest in design led me to create small jewellery pieces, earning compliments from my family and sparking my entrepreneurial journey. With a modest capital of two lakh rupees, I organised my first friends and family show, which turned out to be a complete sell-out – this was the pivotal moment that fuelled my ambition.
To enhance my skills, I pursued diamond and other design courses in Mumbai and completed my GIA Graduate Diamonds from New York. In Kolkata, which was at that time dominated by traditional jewellery, I ventured into designer concept jewellery, gaining recognition and building a strong clientele. Expanding globally, from Bombay to London, the US, Hong Kong, Singapore, and the Middle East, presented challenges and opportunities. Despite all the ups and downs, my journey has been satisfying. Today, with successful stores in Mumbai, Kolkata, and London, coupled with thriving exhibitions, I can confidently say that my overall journey has been fantastic.
As a jewellery designer, in what ways do you believe your gemmological credentials have influenced your work as a jewellery designer?
In this field, a deep understanding of gemstones is absolutely crucial. Without it, designing becomes a challenge—I must grasp the nuances of each stone, from emeralds to onyx. It’s not merely about sketching a colourful design; it’s about comprehending the specific qualities of each gem—its depth, light, style, and pricing. For instance, a green stone could be various things, such as a tsavorite, an onyx, or an emerald, each demanding a distinct approach. Successful design means integrating everything seamlessly. I firmly believe that being a designer isn’t just about drawing; it’s about the comprehensive knowledge and fusion of gemstones and diamonds to create a harmonious piece.
As a woman leader in the Indian gem and jewellery industry, what has been your experience navigating and leading in this unique landscape?
Back then, very few women held positions at the top levels of the jewellery industry, particularly someone like me, a complete novice without connections. Initially, people doubted my capabilities, questioning my understanding of quality, payment schedules, and the seriousness of my work. Over time, as they witnessed my dedication and quality, their perception shifted, they encouraged me and became supportive.
Attending the Hong Kong fair for the first time was eye-opening. People were astonished to see a woman independently examining and purchasing diamonds. Now, after establishing myself, attending these exhibitions brings recognition and understanding.
While it took time to gain acceptance as a serious jeweller, especially for someone with no connections entering the industry solely based on design, I’ve noticed a positive shift. More women are now entering the field, and I encourage them by sharing that they can achieve anything they desire.
You are a B.Sc. gold medallist, an MBA, and also a GIA Diamonds Graduate. How has this educational background influenced your journey in the gem and jewellery industry?
I find it truly fascinating. Every day is a learning experience for me, and I’m driven to do more and expand my knowledge. My science background enriches my understanding, offering a profound perspective and broadening my mindset. Additionally, my MBA plays a pivotal role, aiding me in navigating the financial and business complexities, which can be challenging for a solo entrepreneur. Juggling roles as a designer and overseeing various aspects, my MBA equips me to comprehend the system better.
Harvard taught me that growth isn’t solitary; the entire ecosystem must evolve. It’s not just about personal growth but fostering the growth of my team and artisans. GIA holds a special place for me because, at the start, I lacked credentials. Completing the GIA Graduate Diamonds Program in New York instilled confidence and set me apart in a field that demands seriousness. The GIA credential lent me credibility and respect to my expertise in diamonds.
How have you managed to create a brand that resonates with customers from such diverse and far-reaching locations?
My jewellery bears an international flair—contemporary, modern, and distinctly innovative. Back when I started 25 years ago, the jewellery scene was predominantly traditional, lacking the modern, designer touch. Breaking away from the norm, my designs garnered attention and popularity.
An exceptional chapter unfolded when I went to Saudi Arabia during at a time when women weren’t allowed to enter the country without a male escort. When I was invited to a women’s-only exhibition, I embraced the opportunity. In the midst of an exclusive ambiance, I found myself invited to the palaces of princes, showcasing my jewellery to royalty. Despite initial trepidations and cultural differences, the hospitality was extraordinary.
This journey beyond my comfort zone not only enriched my clientele but also brought unforgettable experiences, from sharing stories with royalty to navigating the complexities of Saudi Arabian customs.
How difficult is it to manage a flourishing business and family commitment. What is your secret to work-life balance?
The key is prioritisation—deciding what truly matters. For me, family and work take precedence, over everything else that I consider secondary. Sacrifices include friend time, personal time, and even truncated holidays. At home, we follow a strict rule: two hours of no phone upon my return. It’s dedicated family time with no external distractions. This practice helps maintain a balance—making time for the essentials while letting go of activities that, although desirable, don’t align with my priorities. The intentional separation of work and family time fosters a meaningful and focused engagement with what truly holds significance in my life.
Excerpts taken from GIA India’s Legacy of Leadership Knowledge Series interview conducted live on Zoom. Attendance by invitation only. Register on collective.GIA.edu as GIA alumni to get notified about upcoming events.
