About me
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 Recognized as the Bullion King and a prominent promoter of RiddiSiddhi Bullion Ltd (RSBL), My story has been a euphoric ride with the depth of the struggles determining the height of Mr. Prithviraj Kothari’s success. I was inspired and came out radiant through the trials, ending up in a place where I never thought that I would be.
The age of digitalization has enhanced business services with the changing patterns and adapting technological innovations has become the need of the hour. “Connect, share ideas, build a business, grow yourself, and strengthen the society,” is the mantra I have epitomized ever since I became an integral part of the family venture over 2 decades ago and yet drive the (RSBL) company on these principles.
- 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.