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Suresh Laxmichand Shaholi: A Legacy of Gold, Trade, and Heritage

Suresh Laxmichand Shaholi displays a lifetime of experience rooted in his family's journey since the Trucial States period.

Suresh Laxmichand Shaholi, an Indian expatriate with a rich history in Dubai, reflects a lifetime of experience rooted in the legacy of his family’s journey since the Trucial States era. 

His father, Laxmichand Mohanlal Shaholia, arrived in 1948, predating the UAE’s formation, and played a pivotal role in nurturing Suresh’s wisdom, earning him the nickname (Mahatma) ‘Gandhi’ among peers due to his traditional attire.

From Mumbai to Dubai: A Journey of Heritage:

Arriving in Dubai at 12, Suresh fondly recalls the establishment of Dubai’s first jewelry shop by his father near the Gold Souk, setting the stage for a prosperous family legacy. 

Reflecting on the 52nd National Day, Suresh expresses gratitude for the opportunities the country has provided four generations of his family.

Schooling and Trade in Dubai’s Formative Years:

Enrolled in the inaugural school founded by the renowned Varkey family in Bastakia, Suresh became one of the first students under Madam Varkey’s guidance. 

His memories span the golden era of trade when businessmen from Iran facilitated commerce, linking Gujarat to India and Iran. The discovery of oil in the 1960s further ignited economic interest in the region.

In his early years, Suresh immersed himself in the family’s jewelry business, learning the nuances of the gold trade. The family engaged in jewelry manufacturing and ventured into modern retail. 

Suresh reminisces about crafting bespoke pieces for royalty, including the mother of His Highness Sheikh Mohammed bin Rashid Al Maktoum.

Dubai’s Emergence as a Gold Hub:

During the 1960s, Dubai witnessed a surge in the gold trade, with imports reaching £56 million in 1968. 

The Shaholi family’s journey, from a small workshop in the Abra market to becoming pioneers in the licensed jewelry trade, mirrors Dubai’s transformative growth.

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