T.S. Kalyanaraman has become a billionaire as a 12-year rally in gold prices fails to damp demand in India, the world’s largest consumer of the precious metal. He owns 44 stores in India and plans to open 36 more by March 2014, including five in the Middle East.
“Less profit, more turnover; that is what we believe in,” Kalyanaraman, chairman of Kalyan Jewellers, said in a phone interview from Kerala. “Be as transparent as you can in your trade. The big thing in life is trust.”