About
He was appointed as National President of the 101-year-old association, India Bullion and Jewellers Association (IBJA) in 2019 for a tenure of 5 years (2019 – 2024).
Mr. Prithviraj Kothari, widely acknowledged as the Bullion King and a prominent promoter of RiddiSiddhi Bullion Ltd (RSBL), has traversed a remarkable journey. His narrative unfolds as a euphoric ride, where the profoundness of his struggles played a pivotal role in shaping the pinnacle of his success. Throughout his career, Mr. Kothari drew inspiration from his challenges, emerging radiant through the trials that marked his professional path. His ascent led him to a place he never envisioned, showcasing the resilience and determination that define his noteworthy achievements.
In the face of adversity, Mr. Kothari’s story resonates as a testament to the indomitable spirit that propels individuals toward unprecedented heights. His journey serves as an inspiration for aspiring entrepreneurs and industry enthusiasts, illustrating that success is often born from the crucible of challenges. As a luminary in the bullion industry, Mr. Prithviraj Kothari’s trajectory not only reflects his personal triumphs but also underscores the transformative power of perseverance and vision in the realm of business.
In the era of digitalization, the transformation of business services is marked by dynamic shifts and an imperative to embrace technological innovations. Adapting to these evolving patterns has become paramount, representing the quintessential need of the hour. For over two decades, he has been a steadfast advocate of the philosophy, “Connect, share ideas, build a business, grow yourself, and strengthen the society.” Since becoming an integral part of the family venture, he continues to drive the RSBL company forward with unwavering commitment to these foundational principles. This enduring commitment not only underscores his dedication to the business but also reflects a visionary approach to navigating the ever-changing landscape of the digital age.
- PURSUE PASSIONS, NOT PAYCHECKS.
- CARE ABOUT THE CUSTOMER.
- BE CRAFTY, LOVABLE, SYSTEMATIC, AND HUNGRY.
- OPEN YOUR BLINDS BEFORE YOU SLEEP.
- INVEST IN IDEAS THAT MATTER.
- DON’T TAKE YOURSELF TOO SERIOUSLY.
- READ EVERY DAY AND A LOT.
Humble Beginnings
Mr. Prithviraj Kothari, a Marwari & youngest of three sons, was born in Mumbai and had started off his career in the early 80’s at his father’s 180-square feet customs notified goods shop doing simple tasks of selling custom notified goods which is situated at Mumbai’s Cursetji Shuklaji Street, the shop was among the few licensed agents that sold gold, Pashmina shawls, etc. which were seized by the customs.
Kothari began his bullion gold trade when Mumbai was ruled by Underworld who sold smuggled gold to small Marwadi jewellers.
This usually led to raids which was a common scenario at Zaveri Bazaar back then and had pushed the trading business to dismal state but Mr. Prithviraj Kothari did not lose hope with all of these incidents, he worked out an opportunity and tied up with the overseas banks to import gold which was then sold in India.
A commerce graduate from the Mumbai University, Mr. Kothari has been in the family business of gold trading since 27 years. As one of the promoters, he has almost single handedly steered RiddiSiddhi Bullions Limited to the top 10 unlisted public companies in India in terms of sales turnover as per BS1000.
He is a humble person who revolutionized the industry with establishing RiddiSiddhi Bullions Limited (RSBL) in 1994, which is India’s top gold and silver trading company that sells gold and silver worth Rs 100 crore daily.
RSBL’s success factor is based on their customer trust and respect backed by their highly valued staff and best quality products with most modern trading mechanisms.
RSBL is one of the most prestigious and pioneering company providing bullion delivery in India on wholesale and retail basis, urging continuous improvement and standing true to their motto in helping RSBL meeting the requirements of their customers.
Challenges Faced
As the revolutionary Apple Co-founder Steve Jobs has rightly described “Momento Mori” showcasing powerful message on modesty and utmost transparency, Shri Prithviraj Kothari courteously dares to live up to this remarkable being who has exceptionally lead to the formation of the Bullion world. From reconstructing a conventional business of moneylending into the top 10 trading terminals, Shri Prithviraj Kothari stands true to the ultimate sense of “Simple Living and High Thinking”
It has been rightly said that difficult roads often lead to beautiful destinations and one such obstacle has helped achieve overall prosperity.
Initially, the traders and jewelers community were very close-knit group and were secretive about conducting their business. The bullion trade was then set up with an objective of bringing transparency and quick dissemination of price information. For this purpose, the first step was a tie up with a Singapore-based company to impart international online bullion prices way back in the 1990s at the cost requested which subsequently brought vibrancy in the market and many benefitted from the increased market size and liquidity.
Subsequently, during the early 2002-03, an approach to the Forward Markets Commission allowed to pertained and introduce hedging instruments of futures and options on precious metals on the commodity exchange.
Gradually a road map was prepared which included the installation of commodity derivatives in bullion and this became the most comprehensive and satisfying experience to be a part of an evolution which is novel yet pioneering.
Dedicated Works
He is on advisory board of MCX [Multi-commodity exchange of India] and was formerly The President at The Bombay Bullion Association.
He has played a vital role in the introduction of gold ETFs in India & under his vision, RSBL has successfully launched India’s first and only electronic over the counter bullion trading system, RSBL SPOT.
Prithviraj Kothari is one of the founding members and directors of the JITO Jain International Trade Organisation (JITO), an organisation promoting trade and welfare amongst it community members and is also the treasurer of ‘Bharat Mahamandal’.
Prithviraj Kothari has also been awarded with Jain Ratna Award in 2012 by the former President of India, Ms. Pratibha Patil & In 2013 was awarded by the Chief Minister of Maharashtra, Mr. Prithviraj Chauhan for his contribution in upbringing of Jain fraternity JITO.