The SINGEM Legacy

Seth Indarchand Srimal


In 1885, a young, not-yet 14 year old Indarchand left his native  village in Rajasthan and landed in Kolkata city with twenty five rupees  worth of silver in his pocket. With that money, he bought some semi-precious stones and began selling them. Gradually, he graduated to dealing in diamonds and his ethical way of business so endeared him to his clients that by 1910, he led one of the  largest diamond jewelry firms in the city. However, during the the Great Depression that lasted from 1929-1939, he lost his fortune to globally nose-diving prices, such that his stocks of precious gems came to lose all value. However, even in the face of such adversity, he refused to file for bankruptcy like so many of his peers had done and paid back his foreign suppliers, who themselves asked him to forget their payments, along with interest over the next decade or so. In doing so, he set a high ethical lesson that is unfathomable in today’s age.

Is it possible to script same success story today?

Interestingly, because of the economics of scale made  possible by machine-based mass production, semi precious  stones still cost approximately the same as they did way back in 1885.

At SINGEM, we seek to create a new Indarchand  everyday.

Bausa Rai Kumar Srimal

24.07.1924 – 10.04.2006

Bausa epitomizes the ideals of SINGEM. He took over reigns of business at the young age of 22, post the sudden demise of his father Seth Joharimal Srimal. He went on to become the youngest president of The Calcutta Johari Mandal.

In his lifetime, he trained hundreds of young men in the nuances of the trade, scores of whom went on to become leading lights of the Indian diamond and jewelry industry.

At the age of 50, he retired from business in order to devote the rest of his life to social causes. His profound knowledge of Yog, Ayurved, Neeti, Jyotish and Ratna vigyaan, won him numerous awards and titles.

He propounded the ‘Divya Dharma’ with ‘Seva’ as its motto. In his lifetime, he founded and/ or headed more than 22 social organisations including the Calcutta Yogic Sangh.

He composed more than 100 bhajans, 500+ dohaas, duhaas, chhands in his lifetime.

In Bausa’s words, ‘SINGEM should continue to play its role of Kalpavriksha, creating values- based means of sustenance for all whose lives it touches.’

We salute and seek to pay homage to this great soul via steadfast adherence to his principles and a policy of ‘life-long support access’  facility for all SINGEM students and clients.