SMEW was started in 1958 by Mr. Vinod Nagarsheth. The Promoters are descendents of Sheth Shantidas Jhaveri 1590 1659, a famous jeweller, financier and businessman of the seventeenth century. Shantidas is known to have even financed the mighty Moghul empire and was the first to be conferred with the title of Nagarsheth. Khushalchand 1680 1748, grandson of Shantidass, had saved the city of Ahmedabad from the marauding Maratha army in 1725 by paying a ransom of 5 Lakh on behalf of whole city.The current surname is derived from being the Nagarsheth of Ahmedabad. The Family is also the founder of the Anandji Kalyanji Trust and has given several major donations.