PNG & Sons wins Jamnalal Bajaj Foundation’s fair business practices award, in recognition of its ethics

The CFBP Jamnalal Bajaj Awards for Fair Business Practices, instituted as a tribute to the late Jamnalal Bajaj, is conferred after rigorous assessment by the Council for Fair Business Practices, made up of leading industrialists 

Mumbai: In the last week of March, the 36th CFBP Jamnalal Bajaj Awards for Fair Business Practices that recognizes and commemorates businessmen and industrialists who uphold the highest ethical practices in business, honoured leading jewellery retailer PNG & Sons at a gala award ceremony in Mumbai. The award came after a rigorous evaluation process by the Council for Fair Business Practices (CFBP) – a consortium set up by the country’s leading industrialists – in which the brand was assessed on various parameters including customer service, product quality and financial transparency.  

“This is the first time PNG & Sons has received this award from the Council for Fair Business Practices. The brand has garnered other noteworthy accolades in the past. In 2021, PNG & Sons was in the Fortune 500 India list. Besides, PNG & Sons has been recognized for its commitment to fair business practices through awards such as the Poona Merchant Chamber’s Fair Business Practice Aadarsh Vyapari Puraskar,” said Aditya Modak, CMO, P N Gadgil & Sons Ltd.  

Promoting this achievement, the brand leveraged traditional media such as newspaper advertisements and OOH campaigns to increase brand visibility in key locations frequented by its target audience. Sharing images, testimonials, and behind-the-scenes insights from the award ceremony on social media helped humanize the brand and fostered deeper connections with our online community. 

To further enhance its trade practices, PNG & Sons is implementing a comprehensive strategy aimed at improving brand visibility, customer engagement and market reach. Revising its approach, it has featured a Marathi actor as the face of its brand campaign to create stronger connections with regional markets. It is also recognizing the significance of Tier II and III markets, by implementing a macro-marketing strategy with localized advertising campaigns, promotions, events and tie-ups with influencers. It is also focusing on one-to-one customer interactions to gather feedback and insights.  

Notably, a few titans of Indian industry – among them stalwarts such as J.R.D. Tata, Ramkrishna Bajaj, Ashok Birla, Arvind Mafatlal, Keshub Mahindra, B. D. Garware and Ramnath Podar – came together in the mid-1960s to create a path-breaking platform to give the consumer power to protect his rights and interests, and set up the Council for Fair Business Practices (CFBP).  

The Bajaj Group instituted the Jamnalal Bajaj Uchit Vyavhar Puraskar or Fair Business Practices award in 1988, as a tribute to the late Jamnalal Bajaj – a lifelong proponent of fair business practices – by giving monetary aid to the CFBP. The award recognizes the effort made by small, medium and large businesses, industrial enterprises and professionals in staying true to the CFBP’s mission.  

PNG & Sons has built a reputation for fair and transparent business practices over six generations, dating back to 1832. One instance of its commitment to fairness is evident in its early adoption of hallmarking for jewellery, even before it became mandatory.  

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