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Surat Diamond Merchant Gifts 400 Flats, 1,260 Cars To His Employees As Diwali Gifts

Bitter Melon

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SURAT: Savji Dholakia, a Surat-based billionaire diamond merchant who famously made his son do odd jobs to learn the value of money, has gifted 400 flats and 1,260 cars as Diwali bonuses to his employees.

Hare Krishna Exports, Dholakia's diamond firm, has spent Rs 51 crores on Diwalibonuses this year, its golden jubilee. As many as 1,716 employees were named as the company's best performers.

The bonuses, which were announced at an informal meeting of employees on Tuesday, have been an annual ritual at Hare Krishna Exports since 2011.


Last year, Dholakia's company gifted 491 cars and 200 flats to its employees. The year before that, it spent Rs. 50 crore on performance incentives, Dholakia said.
Dholakia, who hails from Dudhala village in Amreli district, established and grew his diamond business using a loan from his uncle. His considerable wealth wasn't earned overnight, and he has sought to impart that wisdom to his son Dravya, whom he sent to Kochi with three sets of clothing and Rs 7,000 emergency money, so that the young man could learn what's it's like to stand on his own feet.

http://timesofindia.indiatimes.com/...idget&utm_medium=ABtest&utm_campaign=TOInewHP
 
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Promotional gimmick. Nothing more. He is earning money from their work and made his billions. If his employees were not able to buy a flat and a car working for him then he is not paying them well.
 
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Promotional gimmick. Nothing more. He is earning money from their work and made his billions. If his employees were not able to buy a flat and a car working for him then he is not paying them well.

This sort of cynicism destroys any goodwill ever to be generated. He need not pay his employees enough to buy flats and cars because there is an over supply of labor in India. Free market dictates the salary levels of any profession and those in the diamond industry are compensated as per their availability. Any undue wage hikes will only make the industry lose out to lower wage destinations.
 
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Promotion for the business and cars/flats for employees a win-win for both, Gujus are called ace-businessmen for a reason
 
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