It was the evening of October 14, 2016. That day was special for Jodhpur, one of the beautiful cities of Rajasthan. The palace of Maharaja of Jodhpur, which had been transformed into a five-star hotel, was smiling with the fragrance of Jasmine flowers on that day. The expensive grass around the world and flowers in its garden looked very beautiful. The whole staff of the hotel was preparing to celebrate the fifth anniversary of a diamond big brand, Nirav Modi. This was the first opportunity for India when Nirvava Modi’s name was being taken so intensely in front of him.
In this party of 45 years of Nirav Modi, Maharaja Gaj Singh (II) of Jodhpur had come to welcome guests. This too was not surprising for the people of Jodhpur, because Maharaja Gaj Singh is considered to be very reserved man. But he had reached that party that day. The women there wear traditional clothes, on whom Neerv was wearing Modi brand jewelry. In this party, there were about 100 people in the country, with millions of Bollywood celebrities and Bollywood celebrities.
Neerav Modi’s early story:
It was for Nirav Modi, who is known for his diamonds all over the world. Wherever this person reached, there is a 40-year-old story behind that which starts from India. The Gujarat state of India is famous for its business people all over the world. This was a diamond trader in Surat, Gujarat, Gujarat. Prior to India’s independence, Keshavlal Modi started the diamond business in the 1930s-40s. In the last days of 1940, Keshavlal Modi went to Singapore and started doing the business of diamonds there. Keshava was the son of Modi, Deepak Keshavlal Modi, who used to do business with diamonds only with his father. In 1960, Deepak Modi went to Belgium to increase his diamond business. One of its cities is Antwerp, the second largest city in Belgium. This city is known for its diamonds all over the world. Deepak Modi started selling this city uncut diamond in India by selling it. In 1989, he sent his 18-year-old son, Nirav Modi, to the University of Pennsylvania’s Wharton School to read. There he was studying Japanese and Finance. Everything was running fine. But in the 1990s, the family started to go through economic crisis Looking at this, Neerav Modi left his studies in the middle.
Journey to make a big company from a job of Rs 3,500 per month:
Neerav Modi returned to India in 1990 at the age of 19. Here in Mumbai, Neerav Modi started his diamond work with his uncle, who was his ancestral business. But Neerav Modi was new in this. He came here and started working at Rs 3,500 per month. According to CNBC.com, Neerav worked for six days and 12 hours a week, in exchange for which he got Rs 3,500. After about 10 years, he had 50 lakh rupees. Neerav Modi had told CNBC about this:
‘I never got money from my family. I used to invest the money I got. Now I had 50 lakh rupees. With this, I could open my company. ‘
In 1999, Neerav Modi started Diamond’s business under fire star. In this business, his own 50 lakh rupees were spent. Neerav Modi started this company with 15 people. In India, 90 percent of diamond cutting is done in India. Neerav Modi knew better this thing. He started selling polished diamonds through his company in the US and England market. Soon he realized that he could not go ahead by selling just the polished diamonds.
Neerav Modi changed strategy according to the need of the hour:
Neerav Modi, who used to sell polished diamonds, used to make him Jullari. According to the jewelry, the diamond cutting was done again, in which about 15-20 percent of diamonds were damaged. It took about 30 days to complete the whole process. Neerav Modi told his clients that he would give them diamonds according to their jewelry instead of the polished diamonds, which would save the money and time of their customers both. Their customers are convinced. After this, Neerav Modi started making jewelry for American customers on contract.
When Neerav Modi bought big companies from his company
After a few days, Mr. Nirvav felt that the market was falling, and along with India, China’s diamond traders have been able to bypass bulk dealers and diamond cutting companies and start doing business directly in the US. After this Modi took a big decision. There was a company in the United States of America that was Frederick Goldman. The company was seven times bigger than the company of Nirav Modi. Neerav Modi offered to buy this company. It took about one and half years and then Neerav Modi bought this company for about Rs. 1 billion 60 million in 2005. Two years later, in 2007, Neerav Modi bought the 120-year-old American company Sandberg and Sikorski for about $ 3 billion.
Neerav Modi himself told this to the business world:
‘Before creating a fire station, I had an opportunity to work in my uncle’s firm. This was the most necessary training before starting any business. Christie and Sotheby’s auction gave me a chance. I thought there are so many opportunities in this area and then I started expanding my business.
If business was in Mumbai, then she could not remain untouched by the glow of Bollywood. He was also interested in music and he thought that he could make music his career. Right now he was swinging between diamond business and music that in 2008 a special female friend asked him a request. That lady friend was in need of an earring. Neerav Modi accepted the request and for that year’s ring, he started searching for a special diamond. For this, he traveled to Russia’s capital Moscow, where he found the diamond he wanted. After this, he designed the earring, in which a nag was covered with a diamond ring around it. According to the Telegraph.
Neerav Modi had said-
‘I did not want to make that year’s ring. Making earrings for your friend was not less than a nightmare. After about six months, when I made it and gave it to him, he liked it very much. After this, I felt that this is the work which I should do. ‘
In July 2016, Nirav Modi gave an interview to Business World. In this he said –
‘When I was young, I wanted to work in the field of music. I was curious about how music and art have so much potential that it changes people, it changes people’s thinking and inspires them to think in a particular direction. However, there is something similar to Jewelry. Jewelry is also an art and it has its own language, which only understands those who wear it. ‘
Neerav Modi had said-
‘I do not remember when I was interested in rare types of diamonds. I think these were family qualities, which came to my father from my grandfather and then came to me from my father. However, I never wanted to make it my career. ‘
When Neerav Modi took advantage of the recession
2008 was the year when the world was hit by the economic recession. This recession also hurt the diamond business. The diamond business of the world was flattered. Prices of rare and prized diamonds in pink, blue and white were shattered. Neerav Modi took advantage of this opportunity. He bought these diamonds at very low prices but started selling them instead of selling them.
The year 2010 was very special for Modi. Neerav Modi made the Lotus Necklace with a 12-carat diamond coming out of Golkonda’s mine. In November 2010, it was hired for auction in Hong Kong where its auction took place at about 23 crore rupees. Soon after this, Nirav started his diamond jewelry business with the name of Neerav Modi brand. Starting from Mumbai, Neerav Modi’s business spread to many countries and they opened their stores in Delhi, Mumbai, New York, Hong Kong, London, and Macau. Neerav’s store in India is the only distributor of ‘Argyle’ pink diamond. Priyanka Chopra has been her jewelry brand ambassador.
Neerav Modi had said about the motivation to reach the international level of business:
‘Inspiration for work is met by many things, such as nature, art, poetry, architecture and many things that surround you. Beauty for me means no place, no object or any other person. When I was growing up, I had seen many good things like art and architecture in life. Among them, from 16th century Ruben’s paintings, the modern fashion design of Antwerp Six and the Mughal architecture were very familiar. Because of these, I was inspired to travel around the world. ‘
After becoming the brand of Neerav Modi’s international level, famous celebrities from all over the world purchased their design jewelry. Neerav Modi once told Business World about his memorable experiences-
In February 2016, the 88th Academy Awards were announced. Nirav Modi brand was also included in this program. On this occasion, Kate Winslet, wearing a prized white diamond of 100 carats of Neerav Modi brand, was walking on the red carpet. These niravas were glorious moments for Modi. ‘
Neerav Modi was on Forbes list in 2017
In 2014, Neerav Modi opened the first flagship store in New Delhi’s defense colony. After this, in 2015, Neerav Modi opened another flagship store in Mumbai’s black horse. Internationally, Neerav Modi opened his boutiques in New York and Hong Kong in 2015. After this, in 2016, Nirav Modi opened two more boutiques in Hong Kong. In recent times, Neerav has opened his boutiques in London’s Bond Street and Macau. By 2025, the world’s famous magazine Forbes, Neerav Modi, who wanted to open a total of 100 stores in the world, had also given place in his list in 2017. According to the list of the magazine, the total assets of Neerav Modi at that time was about Rs 149 billion, due to which he got place on this list.
Neerav Modi’s status can also be estimated from the fact that when Neerav Modi had opened his boutique on Madison Avenue in New York in 2015, many celebrities of the country and the world had attended the inauguration ceremony… Apart from American President Donald Trump, besides Hollywood actress Naomi Watts, supermodel Coco Rocha, Lisa Hayden and Nimrat Kaur from India were also involved.
Relationships with Mukesh Ambani:
Mukesh Ambani’s father was Dhiru Bhai Ambani. Dhiru is the daughter of Ambani and sister of Mukesh Ambani’s sister, Deepti Salgaonkar. Dipti is married to Dattaraj Salgaokar, the famous businessman of India. Both of them have a daughter Ishita Selgaonkar. This Ishita Salgaokar has been married to Neerav Modi, younger brother of Nirvala Modi. The wedding took place on December 4, 2016, in Goa. Prior to this, Ishita and Neeshal were engaged, who was on November 24, 2016, in Mukesh Ambani’s Mumbai home, Antilla. The engagement included Bollywood celebrities like Shah Rukh Khan, Aamir Khan, Deepika Padukone, Ranveer Singh, Alia Bhatt and Karan Johar.