Business Goa April 2022

APRIL 2022

VOL 8 ISSUE 4 PANAJI GOA

GOA’S ONLY BUSINESS MAGAZINE

RNI No.: GOAENG/2015/59955

POSTAL LICENSE No.: G-2/RNP/Monthly/Goa-19/2021-23

www.businessgoa.in

INDUSTRY DOSSIER

AND THE AWARD GOES TO...

The Tenth edition of Goa’s only business awards was celebrated in style and grandeur with 25 awardees taking a bow

NEWS VIEWS ARTICLES INTERVIEWS PROFILES FOCUS ANALYSIS OPINIONS EVENTS FEATURES

Hand-crafted Masterpieces Near Mahalaxmi Temple, Panaji - 403001, GOA.

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CONTENTS

12

Cover Story 12

The 10th edition of the Business Goa Awards was celebrated in grandeur with 25 awardees being honoured in a splendid ceremony that felicitated excellence in business

Focus Goa / State Budget 24

CA Rohan Bhandare analyses the Goa State Budget, while explaining allocations to various verticals

Focus Goa / Reforms 26

The Indo-American Chamber of Commerce (Goa) has compiled a list of issues being faced by the industry and business community in Goa; and has suggested solutions to tackle these issues

32 24

Leadership 28

30 34

Mahendra Kumar Gupta highlights on how he started his business and about leading his organisation to new heights

28 38

Interview 30

Swati Salgaocar, the newly elected Chairperson of CII-Goa State Council shares her plans for the organisation in the year ahead

Goan Brand 32

GKB Hi-Tech Lenses, a brand synonymous with ophthalmic lenses outlines their history and vision for the future

Starting Young 34

40 60

44

Lost in Taste is an entrepreneurial innovation by Dhir Madan, a young confectioner with a talent for baking

Professional Dossier 38

Dr Sean Da Silva speaks on his journey as an ophthalmologist and plans as Medical Director of ASG Eye Hospital, Goa

Bon Appetit 60

Larder and Folk, brings the best of sweet and savoury creations to delight one’s taste buds

COLUMNS

48 Beyond Classroom

56 Wise Words

50 Cabbages and Queen

57 Women and Health

52 CSR Incubator

58 People Tree

Dr. Pradeep Salgaonkar on Digital Brand Equity and the factors that play a vital role in enhancing the growth of a brand digitally

Nandini Vaidyanathan speaks about the hospitality industry and why is it important for them to wow customers every time Kishore Shah explains the need for CSR with sustainable solutions, which he believes, are achievable in the long run

54 Invest Right

Mahesh Pai writes about retirement planning and its importance in the present economy

04 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

CA Santosh Kenkre lists out some tips in order to work efficiently and live a fulfilling life Dr Emanuel Gracias advises ladies to get into the family way only after ticking all the right boxes Samay Shetti shares an overview of the stock market at large with a focus on sector-wise movements in April

06 Editorial 08 Corpo Scan 36 Campus 37 BookShelf 40 Lady Power 42 New Avenues 44 Event 46 Biz Bytes 62 Goa Buzz 70 Newsmakers 70 BG Quiz

Shree Mahalakshmi Damodar Prasanna

EDITORIAL Talk for Trade

I am extremely pleased to share that we recently

we published a special issue on the theme

hosted the tenth edition of the Business Goa

“The Best Business Advice I Ever Received.”

Awards for Corporate Excellence.

We realised that more often than not, many a

The Business Goa Awards have always

Goan entrepreneurial spark was ignited when

been a deeply reflective event for me. In its ten

they were in deep conversation with their

editions, I have had the opportunity to strike

compatriots, fellow tradesman and, sometimes,

APRIL 2022 Publisher & Editor Harshvardhan Bhatkuly

Harshvardhan Bhatkuly

conversations, on stage and on the sidelines,

rivals. Chatting up with someone who finds

Group Director Urvija Bhatkuly

with the movers and shakers of Goan business

you worthy can open communication, to pour

and industry; and gather some heartfelt

your heart out, and offer oodles of insights on

Business Head Annalise Gouveia

conversations and many pearls of wisdom.

business and on life.

Chief Reporter Sybil Rodrigues Graphic Designer Rakshama Naik Circulation Mayur Santineskar Contributors in this Issue Dr Emanuel Gracias Kishore M. Shah Mahesh Pai Nandini Vaidyanathan Dr. Pradeep Salgaonkar CA Rohan Bhandare Samay Shetti CA Santosh Kenkre Sweta Sharma PRESENTED BY

Contrary to belief, many accomplished

There is a risk, another small town trait,

business personalities are keen to share their

one that can be easily mitigated, by not getting

stories with youngsters if they take a liking to

drawn into futile chatter and backbiting. This

them. Advice, sharing stories or even common

can suck energy and time and sometimes even

business talk, can provide the recipients with a

money, if you are playing host.

new tangent to solve their problems on hand.

Bear in mind, these entrepreneurs and

induced separation from human company,

change-makers have created an ecosystem of

have made me realise, for us Goans, these video

enterprise in a place not known as a business

platforms for communication are not our most

destination. Were you to chat them up, you

favourite. We like to chat, laugh and pour our

would realise the depth, global understanding of

hearts out; meet and thrash out business issues

their sectors, agility, gumption to hold on to their

in person.

own, challenge status quo, debate rationally, and

With pandemic restrictions being eased,

a deep understanding of the financial and legal

there is a renewed fury for large business

aspects that impact their realms – quite often the

gatherings in Goa. Organisations and forums

attribute mix of small-town boys and girls who

are meeting over fellowship to make good lost

have to prove that much harder than the big city

ground of things stalled over the last two years.

types.

The new government is also a reason to throw

Very early on in the journey of this magazine, and with my connect to various

Editorial, Advertising & Administrative Office

Business Goa

409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 09834340633 Email: businessgoa.media@gmail.com Unsolicited material may not be returned. The opinions in columns and other stories expressed in Business Goa Industry Dossier are not necessarily that of the publishers and the Publisher/Editor shall not be held liable for any inaccuracy or otherwise.

While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.

The past two years, with the pandemic-

a bash to celebrate the minister in charge of the portfolio linked to your business.

industry associations, I was privy to policy

Today, business networking is a popular

decisions, industry advocacy and general

form of promoting your venture, idea or your

entrepreneurial banter. The vibrant and eclectic

own self. But in the good old days – and this still

nature of Goa’s industry makes the marketplace

works for me – someone would drop in at your

very aware and unusual; everyone here seems to

work place, with absolutely no agenda, to just

know everyone, or of everyone. Reputations are

say hello …

sacrosanct and a bluff can be called before you

… and a story would get told, hands would

can utter Canacona.

shake, a deal struck, or a venture built

To celebrate Business Goa’s 4th anniversary, Printed, published and owned by Harshvardhan V. Bhatkuly and printed at Elegant Offset Printers, D2-31, Tivim Industrial Estate, Karaswada, Mapusa Goa 403526 and published at 409, Citicentre, EDC Patto Plaza, Panaji, Goa 403001. Editor: Harshvardhan V. Bhatkuly

06 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

CORPO SCAN

@businessgoa

Yuva Tourism Clubs to use kids to boost travel

In an attempt to create young ambassadors of Indian tourism, all schools in Goa are directed to start a ‘Yuva Tourism’ club soon. With a mission to amplify tourism in the country, this program is aimed at making young Indians convince and encourage their family members to undertake new experiences by travelling and exploring different parts of the country. Strikingly, this move is in line with the Centre’s directive to launch Yuva Tourism campaigns to channelise the skills and talents of Indian

youth towards constructive development of tourism in the country. Under the ambit of this countrywide campaign, several schools across the state have been asked to form National Tourism Clubs to develop and imbibe touristic interest in students from an early age. As per the guidelines issued by the ministry, this club will include teachers and students from class 6 onward.

Anchored by the Union Ministry, this program will facilitate inter-state student exchange, also. These clubs will operate at the school level, district, zonal, state and regional levels. These clubs are expected to organise tours based on themes like nature, heritage, rural, pilgrimage and wellness. With a minimum of 25 members, this club at the school level will have a student coordinator along with a faculty member who will supervise the team

GRIPPED BY LOAD SHEDDING, GOA’S INDUSTRY STRUGGLES WITH POWER PROBLEMS Daily power cuts have dealt a blow to small and medium sized enterprises that were looking at a bout of recovery after the covid induced slump.

The surge in power consumption over the summer and a national power shortage has the state’s industries reeling under daily load shedding requirements.

Industry leaders have said that despite paying the highest power tariffs, the industry gets the least priority and has to bear power cuts for five to eleven hours per day.

Damodar Kochkar, President of Goa State Industries Association, said that the high cost of diesel makes it prohibitive for small and micro industrial units to operate on diesel generator sets.

Further, Kochkar added that these industries pay the highest power rates, but everyday power supply to the industries are cut while there is no load shedding for domestic consumers and hotels.

The small units, which were just coming out of the Covid-19 pandemic, have been hit badly again and are incurring losses.

Kochkar said that daily blackouts and the erratic nature of electricity supply means that many smaller manufacturing units are unable to meet order deadlines. The power cuts are common across industrial estates.

Chairman of ASSOCHAM’s Goa State Council, and former President of GCCI, Manguirish Pai Raiker said that power distribution was failing due to various factors and currently, the department is unable to provide answers.

Machines are being damaged due to low voltage and it is not feasible for micro units to maintain alternative sources of energy.

Goa’s industrialists have consistently argued that the manufacturing sector is being meted step-motherly treatment in Goa, with industry concerns ignored

08 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

GTA meets IT Minister Rohan Khaunte and calls for focus on employment

GTA President Milind Anvekar with IT Minister Rohan Khaunte

Goa Technology Association has urged the Department of Information Technology to focus on infrastructure creation, employment generation, IT exports, IT events and remote events for the next three to four years. GTA presented a roadmap to IT Minister Rohan Khaunte, and said that a single minded focus on the five factors will drive Goa’s growth as an IT destination and will also help create employment for Goan youth. Further, the GTA said that it is hopeful to get a boost to the IT and startup ecosystem in Goa under chief minister Dr. Pramod Sawant and Khaunte.

GTA’s president Milind

Anvekar met with Khaunte to present to him the one-page IT Roadmap 2022-25. It focuses on infrastructure creation, work from Goa, Goa as an IT event destination, employment generation opportunities, innovation and export-driven growth. Anvekar said, “The minister has assured to meet the industry delegation soon to discuss the roadmap in detail and finalise the vision document for Goa. GTA has proposed these five points to be the focus over the next three to four years to drive the growth of IT in Goa and also to help create quality employment for Goan youth”

Startup Incubation Cell launched in association with GCCI’s Women’s Wing and IT Committee GCCI-Women’s Wing along with the IT committee has officially launched the Startup Inncubation Cell in association with IEDA (India Economic Development Association) recently at Goa Chamber of Commerce & Industry .

The business incubator cell will help startups and individual entrepreneurs to develop their businesses by providing a fullscale range of services starting with management training and ending with venture capital financing.

The speakers Prashant Naigaonkar, Finance Facilitation Cell at Chamber spoke about advancement of

small and medium businesses (CASMB) and Gaurang Shetty, CEO at RiiDL, the incubation centre highlighted the benefits and stages of the incubation cell. 3i will provide services which helps new startups get through initial hurdles in launching a business. These hurdles include space, funding, legal, accounting, computer services, among others.

Also present on the occasion were Pallavi Salgaocar, Chairperson GCCI-Women’s Wing, Milind Prabhu, Chairperson of IT committee and Aarti Neemkar, Founder of IEDA

CORPO SCAN

business-goa

STATE DEPARTMENT MOOTS GRANTS TO PROMOTE SCIENCE ACTIVITIES

The state Department of Science and Technology will provide grants of upto `50000 to schools and upto `1 lakh to colleges to conduct science related seminars, workshops, awareness programs and exhibitions.

Faculty members, researchers, experts who want to travel abroad to attend events related to science can seek grants of up to `1.5 lakh under the new scheme. Those travelling within the country for workshops, seminars etc will receive financial support of

upto `50000.

The scheme states that in the case of Goa State Council for Science and Technology, the maximum grants to be provided for organisation of science seminars, workshops, science fairs is `10 lakh per financial year and for participation in science seminars, exhibitions, science fairs, workshops, maximum grants of `10 lakh shall be provided, each financial year.

The State Council for Educational Research and Training will also get assistance

COVID 19 IMPACT ON STATE ECONOMY: JUST 1.9% GROWTH IN 2020-21 Goa’s economy grew a mere 1.6% in 2020-21, with agriculture and manufacturing showing a decline, a clear impact of the pandemic that brought the state’s economy to a halt in the 2019-2021 period.

Data released by the department for statistics, planning and evaluation shows that while Goa’s primary sector accounted for 8.7% of the state’s economy in 2016-2017, it declined to 5.24% of the gross state domestic product (GSDP) in 2020-21.

The secondary sector, which contributed 56% to Goa’s economy, showed a marginal decline with only the tertiary services sector bucking trend.

Chief Minister Dr Pramod Sawant estimates that Goa’s economy will grow by 7% in

the current financial year, but for this, the state needs a strong resurgence in economic activity.

During the year 2020-21, Goa’s primary sector accounted for 5.24% of the state’s economy, the secondary sector for 55% and tertiary sector accounted for 39.72%. The primary sector which accounted for 8.7% during 2016-17, decreased to 8.2% in 2017-18, further reduced to 5.55% in 201819, and contributed 5.24% in 2020-21 shows the data in the economic survey. For the years 2017-18, 2018-19, 2019-20 and 2020-21, the contribution of the secondary sector is in the range of 56% to 58%.

However, the composition of the tertiary sector increased from 34.8% in 2016-17 to 39.72% in 2020-21

Goa Post unveils postcards on heritage monuments

On the occasion of International Day of Monuments and Sites a postcard pack on the architectural icons of Goa along with special cancellation were released by Goa Post.

The pack contains postcards on the Margao Municipality building, Adil Shah Palace, Fernandes Heritage Home and

Braganza Mansion.

The design on these postcards depicts the typical traditional Portuguese-style windows. The release was done online in the hands of Venna Srinivas, chief postmaster general, Maharashtra Circle, Mumbai, Swati Pandey, Postmaster General, Goa region, Panaji; and Narasimha Swamy, Senior Superintendent of Post Offices, Goa Division, Panaji, in the presence of Bernard Rodrigues, President, Goa Philatelic and Numismatic Society

10 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

of up to `10 lakh in a year, while the Goa Science Centre will be provided a maximum of `5 lakh aid per financial year.

In case of replacement of existing science education vehicles (two medium vehicles), grants shall be provided to selected applicants of the maximum market value of the vehicle with equipment and gadgets.

In case of running and maintenance grants for science education vehicles, a maximum of `2.5 lakh for each grantee/ vehicle shall be granted for two

years duration. Total grants for two vehicles shall be `5 lakh.

NGOs and research institutions can also seek a grant of `1 lakh to organise science activities. A proposal appraisal committee has been formed consisting of experts from the fields of science to scrutinize the proposal review committee, which will give the final nod for the grants to be sanctioned.

Twenty five per cent of the proposals to be sanctioned will be reserved for institutions and individuals of the ST community

SIDBI to give Goa `1000 cr development funds SIDBI has agreed in principle to give Goa `1000 crore under its cluster development fund. The Chief Minister emphasised on revenue generation measures, curtailing wasteful expenditure and utilising funds for various purposes that are lying unutilised so that the benefit reaches the common man.

CM Pramod Sawant held an extensive first review meeting with the finance department during which he appreciated the department for its reforms, including the low interest rate of NABARD’s Rural Infrastructure Development Fund (RIDF). It was informed that the amount drawn from NABARD has been

to the extent of `500 crore for the two years, as against `60 crore drawn in the financial year 2019-20 under the new reform. Sawant said that loans have been restructured and brought at an interest rate of 8% and below that of government bodies and corporations.

He also commended the department for immediate liquidity through discounting system via the RXIL portal, which helped cleared dues of more than `500 crore to the contractors. The meeting was attended by finance secretary Puneet Kumar Goel and heads of various revenue generating departments

Goa IPB plans to attract industries with social media push The Goa Investment Promotion Board (IPB) aims to ramp up its social media presence with hopes of improving Goa’s image as an investment destination.

While the state’s industry complains about power shortages, bad roads and lack of land, the Goa IPB hopes to counter this by bringing on board a social media marketing agency. The agency will have to use blog posts and online promotions to create awareness about Goa’s online services and reforms in ease of doing business. An official of Goa-IPB said that the board proposes to engage a social media marketing agency for a period of 12 months to create awareness about various

online services offered by the government of Goa and carry out relevant online promotion for Goa-IPB. Goa IPB has already floated a tender to appoint the marketing agency which states that the agency should have five years experience and should have a team of three persons.

The marketing agency will have to manage Goa’s IPB social media presence on Facebook, Instagram and Twitter, while also creating blog posts, a newsletter and other content for the Goa-IPB website. Goa IPB hopes that informative and captivating posts with appropriate hashtags can aid Goa’s bid to encourage industry players to set shop in Goa

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COVER STORY

The 10th edition of BUSINESS GOA AWARDS was celebrated in grandeur with 25 awardees being awarded in a splendid ceremony that felicitated excellence in business

CELEBRATING AND HONOUR

T

he Spexmojo.com presents Business Goa Awards for Corporate Excellence 2022 was held on 3rd April 2022 in a grand function at Goa Marriott Resort, Miramar.

With a bold and brilliant goal of being the ‘Voice of Business in Goa,’ Business Goa magazine celebrated the 10th edition of the Business Goa Awards with much pomp and glamour.

The ceremony was graced by the presence of many prominent personalities like Chief Minister Dr Pramod Sawant, Tourism and IT

Minister Rohan Khaunte – amidst industry captains, as well as the arrival of the famous Indian actress Pooja Bedi.

Having awarded more than 255 persons till date, The Business Goa Awards for Corporate Excellence is one of the most coveted award events in Goa. It celebrates and honours those individuals and businesses that have made massive contributions in the social and economic growth of the state.

The Keynote Speaker for the award show was the Chief Minister of Goa, Dr. Pramod

12 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

Sawant. While congratulating the organisers and award winners, Dr Sawant stated that the Government of Goa will be coming up with new reforms and policies in all sectors so as to promote new entrepreneurs.

The Business Goa Awards 2022 saw 25 awardees being acknowledged for their efforts in the realm of business, trade, technology, and excellence.

The awards encompassed various personalities, businesses, and startups that have achieved significant milestones in Goa’s business ecosystem.

Some of the best and brightest minds in Goa were honoured for their contributions to business and excellence in the four major categories of the Awards – Hospitality and Real Estate, Excellence, Best Companies, and Top Honours.

The winners in the Hospitality and Real Estate category were Manglam Build Developers Ltd (Real Estate Company of the Year), Equiknox (Real Estate Brand of the Year), Copperleaf Panaji (New Restaurant of the Year), and Hamerzz Luxury

RING GOA’S BUSINESS STARS Night Club (Best Nightclub of the Year). The awardees in the Excellence category were Goa Business School (Excellence in Education), Sanjay Centre for Special Education (Social Impact Award), Priyanka Row (Enterprise Changemaker), A. Durga Prasad (Excellence in Film Making), Dr Emanuel Gracias (Excellence in Women’s Healthcare), Forum for Innovation Incubation Research and Entrepreneurship (Startup Incubator of the Year), Mangirish Salelkar (Leadership in Technology), and Lokmanya Multipurpose Co-op Society

Ltd (Excellence in Banking).

The winners in the Best Companies category were Shukra Jewellers (Jewellery Company of the Year), ASG Eye Hospital (Healthcare Brand of the Year), Cottons Daily (E-Commerce Company of the Year), Saltwater Sutra (Investment Banker of the Year), Blisspace (Modular Furniture Company of the Year), AdCity Advertising (Outdoor Advertising Agency of the Year), Purple Crest Advertising (Advertising Agency of the Year), CAM Industrial Services (Excellence

and Sustainable Development in Sanitation and Waste Management); and GKB HiTech Lenses Pvt Ltd (Brand of the Year).

The awardees in the Top Honours category were B:Live (Startup of the Year), Santosh Kenkre (Professional of the Year), Ralph De Sousa (Business Leadership Award), and Mahendra K Gupta (Lifetime Achievement Award).

Spexmojo.com was the title sponsor while ASK Wealth Advisors, Manas Developers, and Fortune Miramar were the associate partners for the

Awards. The event was powered

by Dr. Kurade’s, Assess Build Chem Pvt Ltd, Tangentia, and Frontline Managed Services.

John Distilleries was the beverage partner, Goa Marriott Resort was the venue partner, Indigomusic.com was the radio partner, TPT Productions was the creative partner, while 25fps was the video partner.

My Goa and Savoir Faire were the magazine and organising partners, respectively.

The host for the evening was Swapnil Kamat, CEO and Co-Founder of upGrad Work Better Training

APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 13

COVER STORY

www.businessgoa.in

Saraj Kumar

Oscar de Lima Pereira

Sachin Pai Bir, Vishwanath Pai Bir and Sreekant Pai Bir

REAL ESTATE COMPANY OF THE YEAR

REAL ESTATE BRAND OF THE YEAR

NEW RESTAURANT OF THE YEAR

MANGLAM BUILD DEVELOPERS LTD

EQUIKNOX

COPPERLEAF-PANAJI

Guruprasad Pawaskar

Johnson Radjou and DJ Ryan Nogar

Dr M S Dayanand

SOCIAL IMPACT AWARD

BEST NIGHTCLUB

EXCELLENCE IN EDUCATION

HAMMERZZ LUXURY NIGHTCLUB

SANJAY CENTRE FOR SPECIAL EDUCATION

GOA BUSINESS SCHOOL

Priyanka Row

A Durga Prasad

Dr Emanuel Gracias

D.S. Prashant

ENTERPRISE CHANGEMAKER

EXCELLENCE IN FILM MAKING

EXCELLENCE IN WOMEN’S HEALTHCARE

STARTUP INCUBATOR OF THE YEAR

PRIYANKA ROW

A DURGA PRASAD

14 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

DR EMANUEL GRACIAS

FiiRE

Forum for Innovation Incubation Research and Entrepreneurship

COVER STORY

@businessgoamagazine

Kiran Thakur Mangirish Salelkar

LEADERSHIP IN TECHNOLOGY

EXCELLENCE IN BANKING

Damodar Raikar

Dr Sean Socrates da Silva

JEWELLERY BRAND OF THE YEAR

HEALTHCARE BRAND OF THE YEAR

Mangirish Salelkar

Lokmanya Multipurpose Co-op Society Ltd

Shukra Jewellers

ASG Eye Hospital

Rajasi Dhavalikar

Rajesh Jog

Paul Chadda

Angelo Nunes

E-COMMERCE COMPANY OF THE YEAR

INVESTMENT BANKER OF THE YEAR

MODULAR FURNITURE COMPANY OF THE YEAR

OUTDOOR ADVERTISING AGENCY OF THE YEAR

Cottons Daily

Saltwater Sutra

Blissspace

AdCity Advertising

Dr Caintanno J Fernaandes Conrad Stephen

ADVERTISING AGENCY OF THE YEAR

Purple Crest Advertising

16 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

Sandeep Mukherjee and Siddharth Nagarcenkar

STARTUP OF THE YEAR B:Live

EXCELLENCE IN SUSTAINABLE DEVELOPMENT & WASTE MANAGEMENT

CAM Industrial Services

COVER STORY

@businessgoa

LIFETIME ACHIEVEMENT

Mahendra K Gupta

Shobit Gupta and Neeraj Gupta

BRAND OF THE YEAR GKB Hi-Tech

Santosh Kenkre

Ralph de Sousa

PROFESSIONAL OF THE YEAR

BUSINESS LEADERSHIP AWARD

CA Santosh Kenkre Ralph de Sousa

Mahendra K Gupta

Release of the Business Goa Awards Souvenir: L to R: Swapnil Kamat (CEO, Upgrad WorkBetter), Harshvardhan Bhatkuly (Publisher-Editor, Business Goa), Hon Chief Minister of Goa, Dr. Pramod Sawant and Urvija Bhatkuly (Director and Group Head, Savoir Faire Media Group)

18 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

fortunemiramargoa

fortunemiramargoa

COVER STORY

business-goa

“The industry and government have to work hand in hand to bring in the required change”

Chief Minister, Dr Pramod Sawant while congratulating Business Goa magazine and the awardees speaks about his Government’s plans for industry in the state

Chief Minister Dr Pramod Sawant addresses the gathering at Business Goa Awards 2022

A

t this awards function, our newly inducted Tourism Minister and IT Minister, Rohan Khaunte and my colleague, MLA Daji Salkar are present with us.

Business people from all over Goa and entrepreneurs of every hue have gathered here today. First of all, I would like to congratulate Business Goa magazine.

Harsh and Urvija have been publishing this magazine continuously for the last 13 years. This is the 10th Awards ceremony. I would like to applaud their efforts to promote industry in Goa. Congratulations to all the award winners. The Lifetime Achievement Award which has been given to Sri Mahendra K Gupta is so well-deserved. So once again, congratulations to all the award winners, for the different categories for which you have been awarded.

This is the Business Goa Awards night. We are celebrating entrepreneurship and industry; and as the Chief Minister, I would encourage

and promote different and new entrepreneurs.

The Government is also planning various functions on similar lines in the future to promote new businesses and new entrepreneurs in the state.

During my previous tenure, especially the last three years, we have gone through a very difficult time having to face

covid, the flood, the cyclone and the slowing down of the state economy because of these situations.

I promise you that in my new tenure we are starting with the Swayampurna Goa 2.0. I promise to deliver the best possible to business and industry and my government is with you.

“As the Minister for Tourism in the State, I’d like to take all the stakeholders into confidence and promote the best of what Goa has to offer. I promise to deliver in not only tourism but the IT sector as well – all what the people of Goa, business people and the youth have been waiting for” ROHAN KHAUNTE Minister for Tourism & IT

20 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

We are ready to come up with new reforms. We are ready to do whatever it takes for the industry, for promoting ease of doing business, in every sector.

Not only in IT, not only in the MSME sectors but in all the sectors from tourism to agro based and food processing industry.

There are so many things that we can do. But it is only possible if the industry and the government works together.

It is you who have to take one step ahead. We are there.

We are bringing in reforms in each and every department.

In my last tenure, I have been trying to push reforms, but this time round I will definitely implement a lot of policies and changes. As representatives of industry, I welcome your suggestions for the betterment of each and every sector. We want more industries to come to Goa; we want more investors to come to Goa so they can invest in this state in various fields.

I once again congratulate all the award winners, Business Goa magazine and the organisers for giving me this opportunity to interact with industry captains and the awardees

COVER STORY/EDITOR’S NOTE

www.businessgoa.in

“Ten years of honouring and awarding entrepreneurship in Goa has been a deeply satisfying experience”

Harshvardhan Bhatkuly shares his thoughts at the Business Goa Awards 2022. Excerpts from his welcome address

I

t gives me great pleasure and pride to unveil the 10th edition of the Business Goa Awards for Corporate Excellence this year, presented by Spexmojo.com.

Ten years back, in February 2012, we started this journey amidst swaying palms on Baga Beach at Tito’s. Over the last eight editions, from 2014 onwards, we have been hosting the event at this beautiful venue, the Goa Marriott Resort at Panaji.

With Goa’s Tourism and IT Minister, Rohan Khaunte

Business Goa, the magazine is now a teenager. It is 13 years old. It is quite a different beast from what it started out to be – obviously because of the passage of time and the churn of content, the advent of new ideas, and more particularly, the change of business dynamics in Goa. However, our vision, our mission, our idea, and a very audacious goal to be ‘The Voice of Business in Goa’ have remained intact. Our commitment to our readers and Goa’s business ecosystem has not changed.

In fact, at the risk of sounding like a stuck record, I keep telling everybody who wants to listen to me that we are the only magazine in Goa which came out in print throughout the pandemic on the news-stands. And month after month, we have stayed put with our zeal to deliver the finest content pertaining to industry and entrepreneurship to Goa’s entrepreneurial and industryfocused ecosystem.

Business Goa Awards for Corporate Excellence has always been awardeecentric. In ten years, we have awarded over 250 business persons, excellence seekers, entrepreneurs, change makers who have walked away with the honours, making this the most coveted business award event in this part of the world.

The property stands steadfast on three pillars. First is the Business Goa family 22 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

– our team, organisers, jury, advisors, event managers and the ones who work behind the scenes. Second is the business community, the fraternity, the ecosystem from which spring the awardees every year.

And third are the people who actually make this happen, the sponsors.

The presenting sponsor for this year is Spexmojo.com. As Prime Minister Narendra Modi ji says, “This decade is the decade of Indian startups.” With Spexmojo we are sure that they will make a huge impact in the field of spectacles and eyewear business. Our Associate Sponsors are ASK Wealth Advisors, Manas Developers and Fortune Miramar.

Our powered by sponsors are Dr. Kurade’s, Assess Build Chem Pvt Ltd, Tangentia and Frontline Managed Services.

Our radio partner is Goa’s fun young station – Radio Indigo 91.9 FM. Paul John is the beverage partner. 25fps is our video partner. We thank Herald for the print publicity. My personal thanks to Hanish Timblo and Sushant Tari for their timely advice and ideas. We thank Picturesque, led by Sajjan Bhatkar, who make the

With Chief Minister of Goa, Dr Pramod Sawant

Harshvardhan Bhatkuly

personalised award frames every year for us.

I thank our sponsors – this year, as well as in the past, especially Nana bab Bandekar of NRB Group, who were the presenting sponsors from 2014-2019; and Ulhas Jewellers for being the presenting sponsor at the first edition in 2012. I would also like to express my deep gratitude to all our advertisers, subscribers, and those who actually purchase the magazine off the newsstand, because they keep us in the business of business.

Our team has been the backbone of this enterprise. Special mention has to be made about Annalise Gouveia who has just completed a decade with Business Goa. Sybil Rodrigues, Sweta Sharma, Rakshama Naik, Samay Shetti and Mayur Santineskar have worked tirelessly to put this event together.

Coming back to the awardees, this year has been a fantastic mix of enterprise, professionals, youth and experience – entrepreneurs, change-makers, people who take their trade very seriously. I extend my hearty congratulations to them and wish them to take their ventures to even bigger heights

FOCUS GOA / STATE BUDGET 2022

@businessgoamagazine

Goa Budget 2022: The All Inclusive Package

The author analyses the Chief Minister’s intent and promises, while explaining allocations to various verticals

By CA ROHAN BHANDARE

T

he Chief Minister Dr. Pramod Sawant is always up to date with the latest trends.

Not only did he use his popular catchphrases during his Budget speech, he has also outdone the ten minute food delivery trend with an equivalent two day express delivery of the State Budget 2022. While both food and budgets can be best judged after a short cooling period, the freshness, packaging, delivery time, and the unchanged taxes deserve kudos.

The Numbers The Government is only playing the cards they are dealt. The pandemic and the slowdown have severely affected Goa’s economy with just a 1.6% growth in State Income in 2020-21.

The Gross Budget size has slighted dipped from the previous year to `24,467 crores, of which `17,097 crores is revenue expenditure while `7,370 crores is capital expenditure.

The budget estimates for the fiscal deficit for FY 22-23 stands at `3,603 crores, which is an alarming 3.94% of the GDP. The GST compensation stream may soon taper off while the loan repayment obligations are rearing their heads.

With the trump cards of restarting mining and central support in taxes and grants up their sleeve, the government has strongly projected a revenue surplus of `434 crores.

expenditure, and the `3.75 crores for various initiatives under the Goa Investment Promotion and Facilitation Board will surely help in attracting private investments to Goa. The Entrepreneurship Policy takes a leaf out of Swayampurna 2.0, while the job boost through the Electronics Manufacturing Cluster at Tuem looks promising. Although the persisting land, energy and EODB matters would require more than a singular Budget remedy, it is laudable to see the formulation of the Logistics Policy to help consolidate this fragmented sector and increase trade competitiveness.

Infrastructure and Public Works It is hard to overstate the centre’s contribution towards Goa’s infrastructure works.

The plans and timelines for the Mopa Airport and its connectivity, the new Zuari Bridge, JICA projects and the revamped Captain of Ports are exciting. The allocation of `80 crores earmarked to GTDC for tourism infrastructure development projects and `372 crores to Goa Infrastructure D e v e l o p m e n t Corporation will definitely have a multiplier effect on the e c o n o m y.

The one day a week

Industry Economic growth cannot only depend on government 24 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

earmarked to resolve water issue shows the Government’s cognisance of the ground realities, but it may still be advisable to allocate more time at least in the initial weeks to clear the piling grievances.

Education & Health The Education and Health sectors have had significant allocations of `3,850 crores and `1970 crores respectively, an increase of 27% and 13% as compared to the previous year.

The allocation to computer laboratories and sports facilities along with broadening the scope of coding and robotics is a crucial investment in the state’s future.

The decision to open two Critical Care blocks at GMC and South District Hospital, Tertiary Cancer Care Centre and a new ESI Hospital will make healthcare more accessible and affordable.

Mining The

fact that the Government has staked its budgeted revenue surplus on the presumption that `650 crores would be received from mining activities would

suggest that the restart is on the horizon. There has been no further movement on the State Mining Corporation, but the implementation of the Mining Dump Policy and making the Goa Mineral Development Corporation operational could keep the momentum going.

Tourism The tourism sector had initially been battered by the pandemic, and is now facing uncertainty due to international tensions.

The marginal increase in allocation could have been improved, but the focus on eco-tourism in the hinterlands, beach safety, and development on heritage works and strengthening the Goa Tourism Board is the right step for the Chief Minister’s vision of making Goa the tourism capital of India.

Real Estate The digitisation of the Building Plan Approval Management System and online issuance of Zoning and No Objection Certificates will simplify and standardise processes. The Home Loan subvention scheme

With the trump cards of restarting mining and central support in taxes and grants up their sleeve, the government has strongly projected a revenue surplus of `434 crores

@businessgoa

will also help to boost demand.

Resolving the long standing demand of the cascading double taxation issues in stamp duty could have made the proposals even sweeter for the real estate sector.

Taxes and Suggestions on Reforms Given the current financial situation, it is reassuring to see that taxpayers would not be burdened with additional taxes during these uncertain times.

Instead, the Chief Minister has promised to focus on undertaking tax reforms, and has backed this with an increase in the estimates of the state’s own tax revenue.

Here are a few suggestions on tax reforms, which could see an inflow of revenue: a. Unlike other tax laws such as The Goods and Services Act and the Income Tax Act, wherein a GSTN or PAN obtained once will remain valid

The Entrepreneurship Policy takes a leaf out of Swayampurna 2.0, while the job boost through the Electronics Manufacturing Cluster at Tuem looks promising until the cancellation of the registration, the registration obtained under the Goa VAT Act, 2005 has to be renewed every three years. Doing away with a periodic renewal akin to many other states will ensure a wider tax base for Goa as well as an ease of lesser periodic compliances. b. Taxpayers, especially in the tourism sector, could be given an option to prepay their annual tax/non-tax fees for a longer term of say 3 to 5 years at a subsidised rate. This will not only benefit the state exchequer, but will give tax certainty to businesses.

c. A good amount of state tax dues are locked up in litigation over the years. With GST turning five soon, it may be time for the state and businesses to stop looking back in the rearview mirror, and amicably settle their state tax disputes. d. The recently announced Budgets of other states in India have seen a significant reduction (by upto 75%) in rates for cleaner fuels such as natural gas. Since these taxes currently burden the cost of the final produce from Goa, a similar proposition by the Government will make manufacturing in Goa competitive, and will in turn increase production levels and tax collections in Goa. e. Leveraging technology will not only help the Government to nab the tax evaders, it will also ensure a level playing field for the organised players. There is enough data which can be made available by compiling information from various

government agencies.

In fact, even a simple Google search for accommodation listings and their prices is enough data to extrapolate the registrations and tax revenues that Goa is losing!

The Road Ahead...

It is commendable that the Chief Minister has ensured allocations across the spectrum at a time when the expenditures are increasing in certainty and the incomes decreasingly so.

With only 44% of the previous Budget provisions being fulfilled by December 2021, the current year budget implementation would be under even greater scrutiny.

Even with a long five year innings to go, there is no doubt that the Chief Minister will yet again keep up with the trends and adopt the 20/20 style of implementing the Swayampurna 2.0 www.businessgoa.in

APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 25

FOCUS GOA / REFORMS

@businessgoa

Issues and solutions for Ease Of Doing Business

The Indo-American Chamber of Commerce (Goa) has compiled a list of important issues being faced by the industry and business community in Goa; and has suggested solutions to tackle these issues

A

s an initiative of the IndoAmerican Chamber of Commerce Goa, a committee was formed for suggestions on ‘Ease of Doing Business.’

The idea behind this was to get a pulse of the business community primarily to understand the challenges faced by them.

IACC-Goa has also tried to understand from the support group, the ‘solutions’ which will help businesses.

Keeping in mind the above agenda, a questionnaire was formulated and circulated to businessmen at large. Based on the feedback to the survey, the following points have been identified- the key issues and the proposed solutions.

I. Key Issues 1. Infrastructure like roads, water and power supply (especially in Industrial Estates): Many of the respondents from various industries have cited poor infrastructure including power supply as a major cost factor thereby making industry non-competitive. With the advent of alternative sources of energy and renewable sources such as solar, government should take adequate steps to strengthen the power supply situation by providing ample power supply at appropriate rate. Many roads in industrial estates are also in a pathetic condition. The need to repair and maintain of the roads are imperative.

2. Li ce nces / R eg i strati on s / Approvals/Renewals: In many cases, there is multiplicity of these AND at multiple points. Processes to obtain these are not fully clear.

Validity is short. Renewal time sometimes takes several months, even a year.

3. Logistics within the State: Logistics in Goa becomes an issue; since Goa is a small state with spread out markets the

needs to be more comprehensive and at quarterly intervals. This will sort out many issues.

Pravin Kakode (left) Chairman for Committee on EoDB and Santosh Kenkre, Chairman IACC, Goa meet Chief Minister Dr Pramod Sawant to present to him a report on the important issues faced by industry.

As an initiative of the IACC-Goa, a committee was formed to seek suggestions on ‘Ease of Doing Business’ and to understand the challenges faced by businesses in Goa cost of logistics is very high.

There have been instances cited by people where cost of transporting from Mumbai to Goa becomes cheaper but cost of transporting the same material from Pednem to Canacona is more.

4. Factories and Boilers: One of the common factors highlighted by majority of the industrialists is functioning of this department and particularly the auditors appointed by them.

5. Key bodies/Corporations headed by Politicians: To understand real requirements and to have empathy toward business people, key business forums need to be headed by experts rather than by politicians.

Such experts will be able to understand, appreciate, and help them solve the problems thereby making the processes faster and more efficient.

6. Files referred to Politicians: Files being referred to politicians in the normal course of approvals etc. is incorrect.

Politicians/legislators should decide on policy matters and then leave the implementation thereof to bureaucrats.

Processes, rules, and regulations should be clearly defined and objective.

7. Issues

26 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

regarding

digital

interface: Though a digital interface has been provided by the government, it appears from the survey that the same is not working efficiently. The people are made to upload their documents online and then go and present them physically.

Or, some other kind of physical interface is required which defeats the purpose of the digital interface.

8. Delayed government payment despite receiver being L1: If in a government contract a bidder is L1, he is left with a very low margin. Often, the payments are not made in time by the government which causes loss to the said bidder. Payment timeline should be strictly adhered to with deadlines.

9. Tendering process is questionable: As per many respondents, the terms and conditions of many tenders are to a large extent framed in a way that only a section of bidders/contractors are qualified! It is very critical to create a level playing field where good and fair practices are adopted.

10. Corruption in most aspects: This was highlighted by majority of respondents to the survey.

11. Communication between Industry and Government: This

II. Suggestions/Solutions: 1. Clear procedure and single window: There should be clarity as to what data is expected to be submitted by the businessman and clear procedure for the same. This clarity can be either on the digital platform or a helpline etc.

Preferably a single window or at least ‘minimum windows’ should be stipulated for obtaining or renewing various type of licences/approvals, etc.

2. Time limit for clearance of applications for licences, etc: For all procedures in the government, there should be a stage-wise turnaround time (TAT) duly specified. Also there should be visibility to the applicant in terms of the progress.

3. Auto escalation of noncompleted tasks: The government should have a matrix of auto escalation to the senior officers for each noncompleted task (in the specified time frame).

Such escalation will encourage the dealing officer to dispose of the application expeditiously; otherwise the matter will be escalated automatically (by way of report along with reasons) to his senior. Such reports will be open to ‘right to information.’

Industry has experienced delay of more than 1 year even for renewal of some licences.

4. Logistics: There is a serious requirement of (a) excellent local logistics for Goods, and also (b) Transport services round the clock for passengers particularly in Industrial estates.

5. Implementation of existing

business-goa

rules and regulations and Acts: Some regulations and rules that already exist to help businesses are not implemented to its full potential. An example of this is the Right to Services Act which has been passed but not implemented in letter and spirit.

6. Simplifying of processes: Government should create a depository (already available Digital Locker) where a comprehensive set of documents can be stored and shared with respective departments, who could draw the required ones from there.

7. Digitised Land Records: This will bring very good clarity and will reduce litigation.

8. RND jetty on hire: Reportedly, Goa already has the distinction of having the first marine cluster in Goa. Access to jetty/length and capacity of

RND Jetty on hire to industry can help scale up the ship building industry significantly.

9. Unregulated exhibitions: Are a major loss caused to local business and also to the exchequer.

Most of the time commercial taxes are not paid by participants in such exhibitions, while the taxpaying businessman face the brunt of ‘loss of sale’ 10. Industrial Development Corporation Rules: Simple and transparent rules are required for example for transfer of shed/land and sublease of IDC land etc.

11. Reduce number of licences: Study each licence/renewal and try to reduce these by 25%.

12. Increase periodicity of renewal of licences: Increase the periodicity of

renewal to a minimum 5 years.

13. Industries advisory task force (Most Important): The government must have an ‘Industries advisory task force.’ This body should have as its members: presidents of all top industrial bodies, and also industries secretary, etc.

Chairman should be from private sector, who can drive the solutions/reforms, etc.

Justification for this ‘Advisory’ body is as below: 13.1 Industrial development & investment promotion cannot be left to the officers of the government since most of them are busy (multiple responsibilities) for most of the time, or get transferred soon.

In view of this, the Task Force can monitor, drive and guide the said development and promotional effort, with all combined experience and expertise of all top trade bodies eg. GCCI, GSIA, CII, etc.

The task force can even guide how to promote Goa: nationally or internationally.

13.2 Any new big industry proposing to start in Goa can meet this Task Force for broad guidance, direction, etc.

13.3 Task Force can provide the Government a vision for investment / industries development for the next 10 years 13.4 This Task Force can plan broad infrastructural requirements of power, manpower, water, land, etc. for Goa for the next decade.

13.5 Constantly monitor by quarterly review meetings: Issues of industry, ease of doing business etc.

13.6 Communication and relations between industry and Government will increase manifold.

13.7 This task force can guide the government on job creation, which is a top priority www.businessgoa.in

APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 27

LEADERSHIP

28 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

@businessgoamagazine

MAHENDRA KUMAR GUPTA

IN THE BUSINESS OF VISION

Mahendra Kumar Gupta highlights on how he started his business and led his organisation to new heights

M

ahendra Kumar Gupta earned his Engineering degree from IIT – BHU. He worked in Kolkata for four years and then started the business of manufacturing ophthalmic lenses along with his brothers in Agra.

The technology was indigenous and the business was conducted on semi automatic machines. Gupta started exporting to the Middle East in 1975 and the company won the highest export award from CAPEXIL in the same year.

In 1981, Gupta came to Goa with a 100% Export Oriented Unit licence in a briefcase. It was the 4th EOU licence issued by the Government of India.

IDC and EDC of Goa both received him with open arms and encouraged him to establish a 100% EOU for lens manufacturing in Goa at Tivim Industrial Estate.

Back then, Goa was one state having an international airport and being a Union Territory, it had all the central government offices in the State.

All of this, coupled with the simplicity of the Goan people was the encouragement for him to establish his plant in Goa. Gupta shifted to Goa along with his wife and children in 1982.

In 1985, he started another company by the name of Goa Optolab Pvt. Ltd. for catering to the Indian market. This company used to sell its lenses in the name of ‘GKB Hi-Tech’.

In 1991, in a family business separation, Goa Optolab, as a company, came under his ownership. This was converted to GKB Hi-Tech Lenses Pvt. Ltd. with single ownership.

This was the time Mahendra K. Gupta decided to explore his vision to make it the largest company in India with a global presence.

The biggest challenges besides establishing sales and marketing were the new

Mahendra K Gupta receives the Business Goa ‘Lifetime Achievement Award’ from Chief Minister of Goa, Dr Pramod Sawant, in the presence of Tourism & IT Minister, Rohan Khaunte and Publisher-Editor of Business Goa, Harshvardhan Bhatkuly

manufacturing sites, arranging finances from financial institutions in his business, as the entire machinery, consumables, raw material, and spare parts were imported.

The biggest challenge for him was to train labour to operate these imported CNC machines.

His strength came from the supportive financial institutions and other government departments. There was also the unflinching support of his wife and children, who acquired the best education on their own without much involvement of their father.

Goa being a small state was insufficient to absorb the quantum of production GKB Hi-Tech was producing and exporting. Therefore he started opening distribution and manufacturing units throughout the country. His aim and vision was to make the company have highest quality standards and values and become a one-stop-shop for the consumer for spectacles.

In 1995, his elder son Shobit joined him after completing his engineering. He had established the footprints of GKB Hi-Tech’s presence in all the markets of India, Middle East, South Africa and Europe. In addition to this,

Focus, passion, dedication, hard labour, support of the family, amiable financial institutions and blessing of God has made Mahendra K Gupta’s organisation one with a turnover of 400 crores, with 2000 dedicated and professional people the company, also entered into retail business of spectacles in Goa, Bangalore and Chennai.

Shobit along with his younger brother Neeraj who joined the business in 1996, started growing the business and re-structuring the expanded business by introducing latest technologies and IT controlled business systems.

By 2004, GKB Hi-Tech was a recognised brand within the country and abroad. The market extended from Kashmir to Kanyakumari and from Mumbai to Nagaland. The entire country was covered with 22 manufacturing units and 102 distribution centres fully owned by the company.

GKB Hi-Tech was the only company who sold its products directly to the opticians without any tier of distributor or wholesaler. This needed a

strong IT and Quality Control.

Every lens produced would directly go into the spectacle without any rejection or return.

This unique line adopted by the management of selling direct to the optician was the biggest achievement of the company to establish its brand. Handling about 20000 lenses a day also needed a robust IT system.

The management style Mahendra Gupta and his sons adopted was to know the business, pre consider all the pros and cons and make instant decisions, while executing the work with precision and economy.

Mahendra K. Gupta is a satisfied person for his career as an entrepreneur and he is seeing his vision growing at a steadier pace.

Today, his company is converting itself from a lens manufacturing company to a spectacle manufacturing company by adding manufacture of spectacle frames.

He has never hesitated in adopting to the latest technology, developing in-house processes which economises the product manufacturing. This is the reason his company has so many firsts to its credit and inspite of two joint ventures with multinational companies in the past, the company is today 100% owned by the family.

Focus, passion, dedication, hard labour, support of the family, amiable financial institutions and blessing of God has made his organisation one with a turnover of `400 crores, with 2000 dedicated and professional people who swear by his leadership qualities.

The future of GKB HiTech Lenses, under the astute leadership of Mahendra K Gupta, is bright so far and they are enjoying the fruits of their efforts

APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 29

INTERVIEW

@businessgoa

SWATI SALGAOCAR

“CII-Goa will work with the State government to improve the business climate”

Business Goa catches up with Swati Salgaocar, the newly elected Chairperson of CII-Goa State Council to learn about her plans for the organisation and her vision for Goa’s industry

Tell us about CII-Goa Council?

CII-Goa is part of the Confederation of Indian Industry which is over 125 years old. CII has been engaged in shaping India’s development journey by working closely with Government on policy issues, interfacing with thought leaders, and enhancing efficiency, competitiveness and business opportunities for industry through a range of specialised services and strategic global linkages. We are also a platform for consensusbuilding and networking on key issues.

With 62 offices, including 10 centers of excellence, in India, and eight overseas offices in Australia, Egypt, Germany, Indonesia, Singapore, UAE, UK, and USA, as well as institutional partnerships with 394 counterpart organisations in 133 countries, CII serves as a reference point for Indian industry and the international business community.

CII-Goa State membership supports a variety of sectors.

We actively advocate on policy matters in several verticals including manufacturing, construction, engineering, mining, shipbuilding and defence, education, green tech, pharmaceuticals, electronics and IT, food, infrastructure as well as service sectors like logistics, hospitality, retail, finance, media and publications, consultancy etc.

What are your views about the last few years at CII-Goa? CII, being an industry-led organisation, understands and addresses the needs of industry. CII-Goa has played a lead role to assist its members in improving Ease of Doing Business (EoDB), especially in crucial times of the pandemic, which has been acknowledged

emerging industry and we will be working with the relevant ministries to promote Goan entrepreneurs on a national scale. CII-Goa sees enormous potential for the state to become a multi-modal logistics hub and we plan to work closely with the government to make this a reality.

Swati Salgaocar

and appreciated by the Chief Minister of Goa Dr. Pramod Sawant who has placed it on record with an appreciation letter. CII-Goa has worked closely with the government on advisory and policy matters over the last few years. CII’s exemplary contribution to the development of the industry has also been acknowledged and appreciated by Government of Goa. A long list of our key recommendations have found place in landmark policy initiatives by the Government of Goa. What is the primary focus of CII-Goa during your term as Chairperson?

The theme of the year is ‘Building India for a New World: Competitiveness, Growth, Sustainability,

30 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

Technology’, and we rededicate ourselves to meeting the aspirations of Indians for a morally, economically and technologically advanced country in partnership with the Government, industry and all stakeholders.

Goa is poised to take advantage of international investments and to this effect we will be actively engaging with several countries and inviting diplomatic and trade officials to interact with our members to explore such possibilities. The state also has a rich history of familyowned and run businesses, and we plan on leveraging the CII Family Business Network to help our members navigate challenges like succession, professionalisation etc.

Startups are also a key part of

What legacy programs do you plan to continue with, from your predecessors?

CII-Goa will continue to work to create and sustain an environment conducive to the development of the State and the Nation by acting as a bridge or facilitator between industry, government and civil society, through advisory and consultative processes.

We will continue to hold events addressing key themes in industrial safety, manufacturing 4.0, logistics, sustainable tourism, startups and innovation aimed at building competitiveness of industry with assistance from CII Centers of Excellence.

Apart from this, as we emerge from the pandemic, we will resume several physical events like buyerseller meets, study missions, and international business promotions.

To promote fitness and health, CII has been organising the Annual CIIGoa beach soccer tournament, as well. And of course, CIIGoa will continue to assist the Government of Goa through its CII Goa Model Career Center which has provided over 900 placements to Goan youth.

What strengths does your leadership team bring to the table at CII-Goa? The rich and vast experience of entire team of Past Chairmen, CII Western Region and Past Chairmen CII-Goa State

business-goa

Council, the Elected Council Members and the entire membership who have elected me. We have created several panels and task forces which are ably led by their convenors in areas like logistics, tourism, startups, water, sustainability, shipbuilding and defence, ease of doing business, to name a few.

Where do you see CII-Goa in a year from now?

CII has been doing tremendous work in nation building for well over a century, so I expect that we will continue this work not just in the year ahead, but well beyond that.

Goa’s ranking in EoDB is a matter of concern. Please share your views on the same.

We have already started working on this as a main agenda for the year ahead. With a view to set an agenda for improving Ease of Doing Business (EoDB) on

CII Goa office bearers, Swati Salgaocar, Chairperson, CII Goa State Council; Anirudh Agrawal, Vice Chairman CII Goa Council; Atreya Sawant, Past Chairman, CII Goa State Council called on Dr. Pramod Sawant, Chief Minister of Goa

the ground, and taking into account Goa’s performance in the Business Reform Action Plan (BRAP)/State Reform Action Plan (SRAP) rankings conducted by Department for Promotion of Industry and Internal Trade (DPIIT) on an annual basis, CII-Goa will work with the State government to improve the business climate.

We will do so in a way that would also help the State in climbing the BRAP ranking and

facilitate on-ground realisation by identifying specific areas requiring policy intervention.

The progress of the initiatives will roll out accordingly through inputs from our members and CII leadership at the state and national level. I am sure we will start to see results and this will be experienced and witnessed by stakeholders.

How do you look at the industry in Goa in a post-covid world?

As we come out of the pandemic, industry needs to remain agile and have a great degree of fortitude to thrive in the near future.

The increasing vaccination coverage globally and development of drugs to treat the virus are emerging as effective weapons in this fight to control covid.

Even as the pandemic stress has started to dissipate, the world is faced with a new geopolitical uncertainty in Europe which will have far reaching ramifications on the global economy.

The lesson is clear – resilience is key. Amidst uncertainty, industry and the economy must find ways to function optimally in an ethical manner. This is the only way a nation can work towards achieving its socioeconomic goals, while creating a formidable place for itself in the global economy

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GOAN BRAND

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GKB HI-TECH LENSES

Eye care at its best

G

KB Hi-Tech Lenses is a leading Indian manufacturer and exporter of Ophthalmic Lenses based out of Tivim Industrial Estate, Goa. The company has grown to become one of the largest and most successful ophthalmic lens manufacturers in India, with a current market share of 35-38% under the leadership of Mahendra Kumar Gupta and his technocrat sons, Shobit Gupta and Neeraj Gupta.

Almost about 15000 lenses are exported daily to over 50 countries worldwide, including Europe, Middle East, and sub-Saharan countries. The company has large manufacturing centres in India (Goa, Delhi, Coimbatore, Cochin). It manufactures over 30000 lenses/spectacles per day with 50% of it made in its overseas plants. Currently they cater to 10,000 opticians in India and 15,000 opticians globally, where 1,000 people are employed in Goa itself.

GKB Hi-Tech Lenses, a brand synonymous with ophthalmic lenses outlines their history and vision for the future

L to R: Neeraj Gupta, Mahendra K Gupta and Shobit Gupta

GKB Hi-Tech is the first Indian manufacturer to win the prestigious CAPEXIL Export award for ophthalmic lenses, and has been receiving the award every year since its inception.

The company can be credited with many firsts in the optical industry in India; the first company to manufacture progressive lenses, Hi-Index lenses and multi-coated lenses amongst the other achievement.

The manufacturing of GKB Hi-Tech is different from any other manufacturers. Its orders gets generated when a consumer goes to the optician with a prescription to buy a spectacle. Therefore every lens produced in GKB Hi-Tech is a unique prescription and is for an individual person. This calls for a logistic system which caters to 15,000 opticians globally and makes their orders reach in time within a week to be fitted in the spectacle frame of the consumer. This requires

32 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

a very robust IT system which creates the ordered parcels for individual optician and despatches across India and abroad.

The system in GKB Hi-Tech is that the orders are received on a central server direct from the optician across India and abroad, gets manufactured in the company and despatched to respective opticians.

GKB Hi-Tech enjoys this robust system and that is why it is producing such large quantity of lenses at 5-6 of its facilities catering to the opticians.

Thanks to this manufacturing and distribution system, it is the most wanted brand and largest company in the country in the optical field.

Today, the company is converting itself to a onestop-solution to manufacture complete spectacles instead of just manufacturing lenses. They have come up with a unique App, in its sister company, Spexmojo.com. It is a discovery

platform to discover and choose the spectacle frames of your neighbouring opticians and complete the purchase of spectacle at their convenience at the partner optician. This unique concept is the first in the world, which is introduced

by GKB Hi-Tech Lenses. More than 1000 opticians have become partners with the company to sell their products.

The stakeholders of GKB Hi-Tech, Directors, and Managers have never worked in their tenure with GKB Hi-Tech for more than 2-3 years on the same assignment. They always want and are eager to adapt to new ventures, innovations, and challenges. This is the reason the company has a large number of management people who have stayed with the company for more than two decades.

Conceiving the idea and delegating it for execution is the main theme of GKB Hi-Tech.

The future and growth of the company is extremely bright

9529934630 |

Porvorim, Goa

Join the

Fastest Growing

International Company

with market leading benefits & pay structure Scan & apply

Employee Benefits Package 10 lakhs Life Term Insurance for Employee.

Dial 4242 Ambulance Service for Employee & Employee’s Family unit.

10 Lakhs Health & Accident Insurance for Employee, Spouse & 2 Children

Internet reimbursement for WFH employees up to Rs. 400/month.

Expense Reimbursement to the Employee.

Extra basic pay for working on Indian National Holidays.

PF, ESIC (employer’s share) and gratuity paid over and above employee’s gross pay.

Monthly team engagement activities and exciting prizes.

Referral bonuses to employees of Rs. 3,500 per referral and 10X more for senior hires.

Exposure to US work standards and on job training provided from the US.

Skill specific job training and promotions.

Voice & Accent, Technical & Skill Development training, paid by the company.

State of the art working facilities and offices.

Free drop facility provided for all female staff working night shifts.

Send you CV to indiahr@frontlinems.com

STARTING YOUNG

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DHIR MADAN

CONCOCTING CONFECTIONS

Lost in Taste is an entrepreneurial innovation by Dhir Madan, a young confectioner with a talent for baking

Dhir Madan

D

By SWETA SHARMA

hir Madan is a bright 15 year old with a love for life and a passion for baking.

Currently pursuing his studies at Sharada Mandir School, Miramar, Dhir engages in various extracurricular activities and is the captain of the handball, throwball, and tenniquoit teams besides being an enthusiastic baker at the side.

Always inclined more towards baking than studying (which let’s admit is not a very bad thing), Dhir started baking at a very young age. Watching his parents and grandmother cooking in the kitchen held a sense of wonder and marvel for him. Dhir was fascinated by their ability of taking ordinary ingredients and turning them into exotic dishes. Needless to say, young Dhir constantly followed his grandmother around the kitchen and helped her out in any way that he could, all the while learning the art of baking.

He received his first order when he was in the 6th grade.

That one order for brownies by his teacher escalated into many

more and Dhir decided to start an Instagram page by the name of ‘Lost in Taste’ during the pandemic. Word about his newly started enterprise spread around and he went on to expand his business, whereby he started selling many other confectionaries like éclairs, cookies, and customised cakes in Goa. Generating new ideas and taking inspiration from his customers, Dhir is always in the throes of making something new – creating designs that were never seen before. He embraces the challenges that come in keeping up with the demands of customers who are constantly looking for extraordinary products, as he feels that it helps him grow and broaden his horizons.

With an ability of making everything ranging from cakes to brownies to cakesicles, Dhir furthermore has a talent for making deliciously healthy cakes for all the diet conscious people.

Various flavours like chocolate truffle, salted caramel, strawberry, pineapple, and chocolate hazelnut exist in his Willy Wonka-ish cake

34 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

menu. Of special note is the Ferrero Rocher Nutella cake along with the Lotus Biscoff flavoured cake which is a big hit with his clientele. An assortment of cupcake flavours and brownies also make a special appearance during the festive seasons.

In order to keep a steady customer base, Dhir insists on maintaining a good product quality and product consistency. Along with a friendly customer service, it is of utmost importance that the customers get the same quality and consistency of products every single time that they place an order. Only when you have the complete trust of your customers, he says, can you truly call yourself a businessman and your venture a true success.

Thus, innovation, practice, and a good rapport with one’s customers are the three foundation stones that have kept Lost in Taste afloat over the past two years.

Dhir is always trying to incorporate his personality into his Instagram page in order to give it a certain uniqueness

that is not always present in other businesses. Recently crowned Mr. Sharada Mandir, he is always motivated by his friends, parents, and customers.

Although Dhir has faced a lot of cutting remarks and stereotypes when it comes to being a boy in the profession of baking, he says, “I have stopped reacting to any hate comments.

I try to be optimistic about my approach to work. Since I have so many good people in my life, who are very supportive and motivate me in what I do, I find it meaningless to listen to all the other negative things said by others.” When asked to define his version of success, Dhir states, “The day I would consider myself to be successful will be the day when my parents are proud of the person that I have become.” Following this thought, Dhir wishes to pursue a Bachelor’s and Master’s degree in culinary arts abroad after finishing school in India. He wants to fulfill his childhood dream of opening multiple bakeries across the world and is willing to put in all the hard work required in order to achieve this dream

CAMPUS

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STUDENTS OF VMSIIHE TO INTERN IN PORTUGAL’S MARTINHAL FAMILY HOTELS

Goa based leading hospitality management institute, V. M. Salgaocar Institute of International Hospitality Education (VMSIIHE), has partnered with Portugal based hospitality brand, Martinhal Family Hotels and Resorts to provide internship opportunities to students of the institute.

With four luxurious properties, two each in Algarve and Lisbon, VMSIIHE has signed a two year agreement with the group.

“The internship is a crucial phase of the curriculum

of the three-year degree programs BSc International Hospitality Management and B.Sc. Culinary Arts offered at VMSIIHE, said Prof Irfan Mirza, Director/Principal, VMSIIHE. This partnership will allow students to obtain practical experience, network with professionals in the field and gain on the job training in Portugal.

It also aligns with the institute’s goal of being a centre of excellence for the hospitality industry in India and will prepare students for the ever-

changing needs of the industry.”

Once accepted, the students will be provided with accommodation, meals, laundry facilities, and onthe-job training along with a stipend.

VMSIIHE has the unique privilege of having an existing collaboration with Turismo de Portugal, the Portuguese government’s official tourism agency.

The collaboration is the result of a Memorandum of Understanding signed between the two countries.

VMSIIHE offers students

opportunities to engage in their professional internships at reputed starred hotels in India and abroad in some of the leading hotels. With a string of long-standing associations with international and domestic hospitality majors to its credit, VMSIIHE has recently also introduced a three-year fulltime B.Sc. Culinary Arts Program. The B.Sc. program offers strong skilled-based modules and management experience with all the elements of food production, food beverage, and service operations

3 year Degree Program in Culinary Management on offer at Kamaxi College of Culinary Arts Kamaxi College of Culinary Arts (KCCA) affiliated to Goa University, the state’s only culinary B-school, offering a three year degree programme approved by Goa University has opened admissions.

The institute, which is in its second academic year, has French Master Chef and Maître Cuisinier de France Patrick Albert on the faculty team as Head Chef.

Created for aspirants in culinary management, the three-year degree programme designed by experts features indepth industry knowledge and skill sets, business education and advanced food production.

Admissions have begun for the next batch slated to start in June 2022.

KCCA offers its students an opportunity to undergo an internship in the US, Japan and Germany in addition to opportunities in hospitality establishments in India.

The on-campus degree programme is endorsed by Goa University and the Tourism and Hospitality Sector Skill Council. KCCA has recently forged a collaboration with the country’s leading Business School, Goa Institute of Management (GIM) to create a culinary business incubation programme.

Says Parixit Pai Fondekar, Chairman, KCCA, “Our job is to prepare students to deal with the challenges, explore the opportunities, and even create niche segments of their

36 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

“Our job is to prepare students to deal with the challenges, explore the opportunities, and even create niche segments of their own”

PARIXIT PAI FONDEKAR Chairman, Kamaxi College of Culinary Arts

own. At KCCA, we provide students the tools to build their own future, in what is now and will continue to be a highly competitive industry.

Our focus is on training leaders of tomorrow, to develop their business acumen, foresight and confidence in them so that every decision for the venture they manage is based on a rooted foundation.”

Parixit visited France recently and interacted with master chefs from the region in an effort to explore internship and job opportunities for Goa based students of the culinary management course.

Students who have passed their Class 12 exams, with English as one of the subjects are eligible for the programme

BOOKSHELF

@businessgoamagazine

AUTHOR: ASH ALI, HASAN KUBBA PUBLISHER: PROFILE BOOKS

THE UNFAIR ADVANTAGE HOW YOU ALREADY HAVE WHAT IT TAKES TO SUCCEED

T

his innovative book shows how to identify your own unfair advantages and apply them to any project.

Drawing on over two decades of hands-on experience, including as the first Marketing Director of Just Eat, the authors offer a unique framework for assessing your external circumstances in addition to your internal strengths.

Hard work and grit aren’t enough, so this book explores the importance of money, intelligence, location, education, expertise, status and luck in the journey to success.

From starting your company, to gaining traction, raising funds and growth hacking, The Unfair Advantage helps you look at yourself and find the ingredients you didn’t realise you already had, to succeed in the cut-throat world of business. This book does not to give you the magical secret to success, because to be quite honest there is no such secret and no fixed path to success.

There are many ways to succeed in life and many ways to measure success that isn’t financial.

The thing that this book does is try and get you to take a look at everything that you have

going for you and realise that even though you probably don’t have the same advantages as other success stories, you have your own set of advantages that you probably take for granted or even view as a disadvantage.

This book invites you to change your views surrounding yourself and your own potential in life and inspires you to ‘have a go’ at pursuing your ambitions because there is a chance, however big or small that it might work out or at the very least you might learn something.

The focus of this book centres on startups and some of the stores surrounding the people that started them.

It also dishes out advice, although fairly limited, about how to go about starting your own business. Nevertheless, many of the core lessons from this book can be used by people who have other ambitions outside of startups, people looking to progress in their career, or change careers completely.

The Unfair Advantage is an excellent tool, for everyone looking to get an insight into a realistic view of success, in the words of a couple of entrepreneurs that came from nothing to build huge startups, by having the right mindset and recognition of their own unfair advantages. The results after years of picking what makes a particular startup successful, is well described in their MILES framework.

In addition, you will find many real life examples to point out the struggles and the way others have capitalised on their unfair advantages to become unicorns, from Facebook and Google to Spanx, they all have a story to illustrate it is not all hard work or serendipity, but actually the unfair balance between the two

APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 37

PROFESSIONAL DOSSIER

@businessgoa

DR SEAN SOCRATES DA SILVA MEDICAL DIRECTOR, ASG EYE HOSPITAL

Enhancing Vision, Touching Lives

Dr Sean Da Silva speaks on his journey as an ophthalmologist and plans as Medical Director of ASG Eye Hospital, Goa

L

By SYBIL RODRIGUES

ife is very different lately for 26 year old Seema.

She can enjoy her life free from spectacles and engage in outdoor activities which has made her life colourful.

Born with high myopia and wearing glasses from her school days with 8.0D lenses Seema underwent LASIK Surgery with Dr. Sean Socrates Da Silva at ASG Eye Hospital, Goa and is now excited to pursue her career in hospitality and plan her wedding later on this year.

“I have performed more than 2,000 LASIK, ICL Surgical procedures in patients who do not wish to wear glasses and the results have been gratifying.

I have also performed several corneal transplantation surgeries include Penetrating Keratoplasty, Deep anterior Lamellar Keratoplasty and Endothelial transplantation.

The youngest patient we had was a six year old girl from Yemen who was bilaterally corneal blind with glaucoma.

We were fortunate to be able to restore functional vision in one eye so she could resume school and all her normal activities,” says Dr Sean.

Having worked the past years at Bangalore before locating to Goa has given Dr Sean a wealth of expertise in handling routine and complicated cataract procedures, Premium (Trifocal and Toric) Intraocular lenses and Fem to second Laser Cataract Surgery with the Catalys platform.

Dr Sean began his journey from Rosary High School, Miramar standing first in Grade 10 and then went on to pursue Science at Dhempe Higher Secondary school. The third child in a family of five; his parents were instrumental in ensuring that they all did well in their studies. Dr Sean gives credit to his teachers who encouraged him along the journey. He played football for

Dr. Sean Socrates Da Silva

his school and college team and loves western dance and music.

Dr Sean wanted to do something wherein he could contribute to society. “It was partly my father’s dream to have me join medicine and somewhere deep within I also wanted to do something where I could contribute and be of service to society. I firmly believe that whatever I am today would not have been possible without divine blessings and hard work.”

Dr Sean is the Medical Director at ASG Eye Hospital at Caranzalem. “The field of

38 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

Ophthalmology has always been exciting and challenging.

From the good old days where cataract surgery was done manually, evolving now to a quick painless sight restoring surgery. No other field of medicine has witnessed such a massive wave of transformation due to technological advancements. I was very eager after completing my post graduation to specialise in Corneal Transplantation which was not done in Goa at that time. Also to be able to bring a patient from darkness to light by restoring their vision is a

God given opportunity that I am thankful for.”

An Alumnus of Goa Medical College, MBBS (2002) and MS Ophthalmology (2006) he went on to complete a Clinical Observership in Cornea at L V Prasad Eye Institute, Hyderabad and then a long term fellowship in Cornea and Anterior Segment at Aravind Eye Hospital, Madurai. This formed a strong foundation and with further training at Sankara Eye Hospital, Coimbatore in Phacoemulsification Cataract Surgery. He commenced his career at Sankar Foundation; Vishakhapatnam and developed the Corneal Transplant and Cataract Unit over a two year period.

Despite travelling all over South India for the past 14 years, Goa has always been calling Dr Sean back home. “In December 2008, when I was down for christmas vacation I was called on to perform the corneal harvesting after the untimely demise of my dear friends father Professor Kashinath Kelekar. The Rotary Eye bank of Goa and Goa Medical College provided the necessary help and this paved the way for eye donation and eye banking in Goa. In April 2010, I performed the first corneal transplant at Vrundavan Hospital, Mapusa with the assistance of Rotary Club of Panaji.”

However to further train in LASIK and Refractive Surgery, Dr Sean went on to spend three years at Aravind Eye Hospital, Madurai under the doyens of Ophthalmology; Dr M Srinivasan and Dr N V Prajna and then worked with Dr D Ramamurthy, Chairman: The Eye Foundation Coimbatore, A pioneer in refractive surgery and Past President of All India Ophthalmological Society. As Medical Superintendent of the new branch at Bangalore for the past eight years (2013 to 2021) Dr Sean was successful in establishing an excellent

business-goa

Tertiary Eye Hospital at Bellandur, well recognised for their work in East Bangalore.

He is also an Assessor for Hospitals under National Accreditation Board for Hospitals and Healthcare providers (NABH), a constituent body of Quality Council of India which focuses on quality in healthcare delivery and has an MBA in Hospitals and Health Systems Management from BITS Pilani Rajasthan.

Dr Sean adds, “I have always loved teaching and academics.

In addition to several publications in peer reviewed journals and textbooks I have participated as a speaker in several state and national level conferences and forums.”

Dr Sean then goes on to speak about his role as Medical Director of ASG Eye Hospital, Goa. “It was providence that I met with the ASG Eye Hospital team founded by Dr Arun Singhvi and Dr Shashank Gang. I was thankful to see Dr Arun also keen to establish a tertiary eye care centre in Goa. They have left no stone unturned in providing Goa with the very latest equipment and excellent infrastructure to make excellence in eye care a reality. I have the privilege to be part of an experienced team along with Dr Chandraprakash Oli (Cornea, Cataract, and Refractive Surgeon – LVPEI Hyderabad) and Dr Aditya Kajave (Vitreo Retina ServicesAravind Pondicherry) as full time consultants and visiting consultants for squint and oculoplasty.” In the past seven months in addition to providing premium cataract surgery with latestintraocular lenses, Dr Sean and his team have treated more than 720 patients with Retinal disorders and performed 35 complicated vitreoretinal surgeries.

“We also have the Pentacam Imaging system and CL UVR corneal crosslinking laser for treatment of Keratoconus. Q LASIK, ICL and Bioptics have been performed for patients to get rid of their glasses and it is

an amazing experience to see the joy on their faces the next day waking up to a new world.

We intend to start Stem cell and Corneal transplantation work shortly. We are keen to ensure that ASG becomes a centre of excellence for eye care in Goa and patients do not need to travel outside the state for these treatments.”

Dr. Sean further adds, “Creating awareness about preventable blindness and encouraging patients above 40 to have a yearly retinal examination will go a long way in maintaining a healthy vision.”

Dr Sean and his team have some ambitious plans as far as eye care in Goa goes. “It is a privilege to lead a welltrained team of eye specialists in different areas of expertise at ASG Eye Hospital, focussed on delivering the best quality eye care at an affordable cost to the people of Goa. We are keen to reenergise the eye banking and corneal transplant programme in Goa with the help of Goa Medical College and Rotary Club of Panjim.

We have received tremendous support from Chief Minister Pramod Sawant and Health Minister Vishwajit Rane in the endeavour. The DDSSY scheme has provided financial assistance to the people of Goa.” Speaking on his inspiration and support system Dr Sean credits his family. “My wife Dr Natasha and daughter Nicole are a pillar of strength and support. I have been blessed to always have the love and support from my parents and siblings. Dad would have been indeed proud if he was alive today. I am sure his prayers and God’s blessings have been guiding me along my path. The words of late Dr G Venkataswamy, founder of Aravind Eye Care System ‘Intelligence and capability are not enough. There must be the joy of doing something beautiful’, motivates me each day to give my best to every patient walking through

our doors.” It is the love and blessings that we receive from our patients which is our best reward.”

Healthcare organisations are faced with challenges in reaching out to the remote villages and ensuring that costs are affordable to the poorer sections of society as well. The mission of ASG Eye Hospital is “To make available to every individual, the best quality of health care treatment and solutions irrespective of their awareness, knowledge, and financial status and for this purpose to create a pool of trained and skilled health care professionals whose skills and knowledge are at par with the best in the world.” As far as future plans are concerned Dr Sean says, “Telemedicine in the field of Ophthalmology with trained optometrists at PHCs covering the remote parts of Goa and providing timely help and advice without needing the

patient to travel long distances is the way to go in the future to ensure continuity of care.

We are working to formulate a sustainable model and look forward for support from the Government of Goa.” Right now, Dr Sean and his team are at the beginning of their journey in Goa. “Working with a larger team of full time ophthalmologists on board, catering to patients from India and abroad and starting a training programme for young ophthalmologists in Goa at par with the best in the world is a road map we plan to charter,” he adds. “ASG Eye Hospitals recently acquired the Vasan group of hospitals and is poised to become the largest eye care organisation in India providing specialised care under one roof.

Leveraging the wide network of hospitals and medical expertise will ensure the best quality of treatment for patients across the various centres”

APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 39

LADY POWER

Celebrating luxury and women T he 6th edition of The Luxury Symposium 2022 concluded in Goa with the esteemed presence of Union Minister of Culture & External Affairs, Meenakshi Lekhi as the Chief Guest & HRH Queen Diambi Kabatusuila of Congo.

The Luxury League organized its third edition of The Showcase 2022, a pop up of global talent from 26th - 27th March 2022. The event also had the support of the Ministry of Tourism of India and Ministry of Skill Development and Entrepreneurship.

“India is so luxurious that every national has the capacity of being the designer himself or herself. I believe Luxury Symposium will take the luxury forward to the world in many ways” said Meenakshi Lekhi.

“Let us reimagine luxury in an Indian context. The Luxury League promotes luxury as a powerful agent of change through Indian art and craft.

Our endeavour is to strengthen

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The 6th edition of The Luxury Symposium was hosted by Ritu Beri in Goa recently

Pallavi Dempo, Executive Director of Dempo Industries Ltd and Trustee, Dempo Charities Trust with Union Minister of Culture and External Affairs, Meenakshi Lekhi; and Ritu Beri

the voice of India by showcasing our artistic talents and brands,” say Ritu Beri, Founder, The Luxury League.

The Luxury League is a not-for-profit foundation, India’s first most powerful and influential platform for branding culture as luxury engaged in branding India, globally.

The foundation serves as

a standard-bearer to promote Indian arts, craft and heritage and is a global ambassador for Indian culture. The foundation also aims to create an environment conducive to creative thinking through dialogue and exchange of ideas amongst like-minded people, purveyors of luxury, global decision-makers, and the Government.

A consortium of decision makers, artisans, craftsmen, corporate global brands, consumers as well as the Government came together on the same platform and reimagined the connotations of luxury in a global context.

TLS2022 was a cultural collaboration of beauty, design, fashion and creative artforms at Hilton Goa Resort.

The Showcase 2022: The objective of this display exhibit platform was to promote ‘Brands that bring glory to India’ and strengthen the voice of India, globally. This year, the event saw the participation of global brands representing beauty, textiles, accessories and many more.

“At The Luxury League we celebrated the contribution of eminent people from different walks of life. To honour excellence that has excelled globally and significantly contributed in putting India on the map,” added Beri

The Luxury League celebrated the contribution of eminent people from different walks of life

ANISHA HASSAN is a restaurateur, chef and owns a restaurant in Goa named as ‘Saligao stories’

DIVIYA KAPUR owns Literati, a book shop in Goa for more than 15 years. An intellectual and woman about town

ARCHANA BHOBE fashionista and founder of Snip Salons & Spas is an entrepreneur par excellence

QUEEN DIAMBI KABATUSUILA Queen of Congo

SVETLANA CASPER, a stunning model and the founder of label ‘Lana Cherry’ she is a dynamic DJ in the making

SHERYL OLIVEIRA FERNANDES e DE SA is the President at Women’s Indian Chamber of Commerce & Industry Diversity & Inclusion

YELLO MEHRA Passionate about hospitality, Yello started her fabulous restaurant Fiesta – an experience of excellence and glamour

SITA RAINA is a versatile & beautiful theatre, television and cinema actor, and Co-Founder, Director of The Peninsula Studios

SAPNA SARDESSAI runs a successful advertising agency, Printer’s Devil based out of Porvorim; she is a real power woman and true boss

NILIMA MORAJKAR The Dynamic Director of Sun Estate Developers, Goa and Soham Leisure Ventures Pvt ltd has created a niche for herself

40 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

NEW AVENUES

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FRONTLINE MANAGED SERVICES

Goan talent to now get international exposure

Leading Global Managed Services Provider to the Legal and Professional Services Industries is committed to recruiting additional talent in the country

(L-R) Pradeep Mainkar, Sr. Manager, NOC; Alyxha deMello, Director, Billing Services; David Buergler, COO; Seelin Naidoo, CEO; and Joshua Silveira, Director, India Operations

W

ith more than 800 employees worldwide to support more than 600 global law firms, Frontline Managed Services is the leading provider of Administrative, Financial and IT Managed Services to the legal industry. In 2021, the company was recognized as the top MSP for the legal industry

by ChannelE2E, an Elite 150 MSP by The Channel Company in its MSP 500 rankings and multiple Best Of 2021 rankings from American Lawyer Media.

Founded in 1987, Frontline Managed Services operates across locations in Atlanta, Honolulu, Nashville, New York, Philadelphia, St. Louis, Toledo, Washington, D.C., Toronto, London and Goa, India.

Frontline Managed Services has recently announced further investment in Goa. The company is adding 7,500

many tech career opportunities in this market, said Seelin Naidoo, CEO of Frontline Managed Services. “Our diverse employee group has created a dynamic and energetic working environment. Combined with our proprietary educational tracks; this creates an opportunity for each employee

Seelin Naidoo, CEO

square feet after growing to over 200 employees in the last three years and increasing recruitment in Goa. “We have been grateful to become members of the Goa community, and the work of our growing team has allowed us to become one of the fastest growing employers offering

Inaugurating the Porvorim facility

42 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

David Buergler, COO

to build a lasting career through the company providing training and paid for certification.”

In Goa, Frontline Managed Services has leased an additional two floors of Xenia Commercial Building in Porvorim and is currently looking for additional building spaces to accommodate its significant growth and sustain continued recruiting for its award-winning Financial and IT Managed Services offerings.

As part of the expansion, the new office space has been completely retrofitted to include new furnishings, tech equipment and new employee spaces. In addition to improvements to the Goa operations, Frontline Managed Services also proudly provides a world-class benefits package as part of its recruiting in the region, including paid leave, health insurance coverage, professional development training, five-day work weeks, all U.S. federal holidays off and exposure to global processes and technologies with integration into an international team.

Frontline Managed Services is actively seeking staff to fill a wide range of open positions, including Senior network and systems engineers, IT Project Managers, Security Analysts, Software Developers, IT Compliance Analysts, Project Engineers, E-billing and Accounts Receivable Specialists, among many others

EVENT

@businessgoa

Tangentia Jigyasa Quiz 2022: Grand Finale of the 6th edition held in Goa

L to R: Winners of Tangentia Jigyasa Quiz 2022 Meghashyam Shirodkar and Rohan Khanna of Barclays with Elizabeth Thomas, V.T. Thomas, Ralph de Sousa and Vijay Thomas

T

he Tangentia Jigyasa Quiz is the leading nationallevel business and technology quizzing event held annually

by Tangentia, a global leader in digital transformation solutions. The Quiz is designed to highlight and reward the smartest technology and business minds among Indian college students and corporate professionals.

This year 200+ teams participated across India in the prelims held on February 26, 2022, including leading Indian corporates and some of the most prestigious universities and colleges in India including IIMs and IITs. At the finals held in Goa on March 26th, 2022, after an exciting and grueling final, Team Barclays represented

by Meghashyam Shirodkar and Rohan Khanna were declared the winners of the Tangentia Jigyasa Quiz 2022.

The 1st Runner up Team was Sai Mitra Constructions India represented by B Naveen Kumar and Jayakanthan R and the 2nd Runner up Team was Siemens represented by Anirudh Shirsat and Prajakt Kamat. The other participants in the finals included last year’s winners Team IIT Gandhinagar represented by Ayush Awasthi and Shantanu Sharma who made it to the finals directly, Team Capgemini

was represented by Kapinjal Chowdhury and Rabi Sankar Saha, Team HDFC Life was represented by Francis Rodrigues and Rajarshi Chanda, and student team of Jain University was represented

by Ashwin Karthi and Vikram KM. The winners, Barclays, took home a Grand Prize of `1,50,000 in addition to 5,000 FOHO Coins and a 5 days - 4 night stay by Tripvillas. The first runners up Sai Mitra won `75,000, along with to 5000 FOHO Coins, 3 days - 2 night stay by Tripvillas. The second runners up Siemens won `25,000 along with 3000 FOHO Coins, 2 days -1 night stay by Tripvillas. All winners also took home a `5,000/CMM Arena gift card.

The last editions of the Tangentia Jigyasa Quiz were successfully held across various locations in Goa. Last year in 2021, a hybrid format was adopted for the first time due to the pandemic, where the quiz master and some participants joined the finale virtually.

The 6th edition of the Jigyasa Quiz was held on 5th March 2022 at the International Center Goa and was streamed live on Tangentia’s social channels.

The quiz master for the event was Vijay Thomas, CEO and Founder of Tangentia. The event was graced by Chief Guest, Ralph de Sousa, President of Goa Chamber of Commerce & Industry, Guests of Honour Dr. Ajit Parulekar Director at Goa Institute of Management; Manguirish Pai Raikar

Chairman, National Council MSME at ASSOCHAM; V. T. Thomas, Director of Tangentia; and Elizabeth Thomas, Director of Tangentia.

Hari Kaul, Sanjay Amonkar, Harshvardhan Bhatkuly, CA Gaurav Kenkre, Sidharth Kuncalienker, and many business personalities from the Goan business world and quizzing enthusiasts were also present at the event.

Tangentia announced its first Tangentia Jigyasa Hackathon event, which will take place later this year. The prelims for the next edition of the Tangentia Jigyasa Quiz will be held on 25th February 2023 with the finals on 25th March, 2023 in Goa. More details can be found at tangentiajigyasa. com

L to R: Runners-up Jayakanthan R and B Naveen Kumar of Sai Mitra Constructions with Elizabeth Thomas, V.T. Thomas, Ralph de Sousa and Vijay Thomas

44 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

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BIZ BYTES

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CM Dr. Pramod Sawant officially launches flagship Swayampurna 2.0 Chief Minister Dr. Pramod Sawant officially launched Swayampurna Goa 2.0, with the declared aim “to make Goa swayampurna (self-reliant) in every sector.”

Dr. Sawant stated that Swayampurna Goa 2.0 aims to expand the scope (of the project) with the appointment of ‘Swayampurna Mitras’ for a number of wards in municipal areas, organizing study tours and taking the ‘Sarkar Tumchya Daari’ initiative (government at your doorstep) to remote places.

While elaborating on his plans on Swayampurna Goa and Sarkar Tumchya Daari, Dr. Sawant said, “The change will be seen this time. We want to

Dr Pramod Sawant

initiate the same programme in the interiors also. We are providing 121 services online, too, which people are still not aware about.

There are nearly 15 lakh people who have availed of these services. There are 78

centres in the state which are facilitating these services at minimum charges.”

At the launch, Dr. Sawant interacted with the Swayampurna Mitras, sarpanchas and panch members and congratulated then for the implementation of Swayampurna Goa which was launched in October 2020.

Sawant added that the entire system has worked very hard since the launch to achieve the objectives with innovative ideas and hard work.

The Chief Minister said that he is sure that the Swayampurna Mitras, nodal officers and Swayampurna Sahayaks will do a flawless job in achieving the targets set for Swayampurna

Goa 2.0 While adding that government employees are coming forward to become Swayampurna Mitras, Dr. Sawant said that everyone has to plan how to make Goa swayampurna in the next five years. He also said that the state government will felicitate those people who have started their businesses and become successful under Swayampurna Goa 1.0. He further added that the records of work done under the program will have to be maintained to see how many people have benefitted from the programme and that if needed, the scheme can be amended so that it reaches all sections of the society

BLIVE OPENS FIRST MULTI-BRAND EV EXPERIENCE STORE IN KOCHI

Samarth Kholkar and Sandeep Mukherjee

BLive, the fastest growing multi-brand EV platform has announced the opening of its first EV experience store at Kochi offering a wide range of products for personal mobility and businesses.

Through the store, the company aims to promote sustainable mobility by showcasing multiple brands of electric two-wheelers (e2Ws), electric bicycles (e-bikes) and electric delivery vehicles all designed and manufactured by Indian brands.

The new store will also have an in-house quick-service

kiosk, battery swap facilities, and EV charging infrastructure.

With the store, BLive brings everything related to E2W under one roof housing key brands like Kinetic Green, BattRE, LML – Detel, Techo Electra, Gemopai, E-Motorad, Hero Lectro and others.

The store will also offer charging solutions, expert guidance on selecting the right EVs, and post sales service packages.

The store has a range of EVs for businesses such as delivery vehicles for E-commerce companies, food delivery

46 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

companies etc.

Samarth Kholkar, CoFounder, BLive, said, “With the launch of the multi-brand EV retail concept, BLive is accelerating the adoption of electric vehicles. We want to create awareness, drive accessibility and affordability of EVs to enable consumers to switch to electric.

BLive is connecting Indian customers with multiple brands on the BLive platform by setting up a one-stop shop for all consumer needs.

The BLive experience stores, which will soon be live

across 100-plus locations in the country, will help consumers experience and buy their choice of EVs.” Sandeep Mukherjee, CoFounder, BLive said, “We encourage business owners to adopt electric vehicles and give a boost to their profitability which is suffering due to high fuel costs.

BLive has a host of innovative EV products and services which are suitable for all delivery and logistics needscustomised vehicles, easy finance options, lease models, tech backend

@businessgoamagazine

IT Minister Rohan Khaunte to focus on improving EODB

CREDAI Goa meets TCP Minister Vishwajit Rane

Rohan Khaunte

With Goan IT companies complaining of difficulty in registering with the Startup Goa portal and claiming incentives, IT Minister Rohan Khaunte has assured of improving ease of doing business to boost the IT industry in the state. Khaunte said that the government would eliminate roadblocks to the EoDB for the local IT industry.

The government will constitute a committee to simplify the process for registration of startups and availing scheme benefits in a time-bound manner.

The committee will look at the immediate issues affecting the industry.

The industry body has also asked for IT to be included among the essential services

(LtoR) James Mathew, Chief Town Planner; Mr Jose Braganza, Secretary, CREDAI-GOA; TCP Minister Vishwajit Rane; Rajesh Naik, Chief Town Planner, Avez Shaikh, (Jt. Secretary); Gaurang Suctancar, (Vice President); Tanmay Kholkar, (Member) CREDAI-GOA

The Members of CREDAIGOA have expressed their gratitude to Vishwajit P. Rane, Minister for Town & Country Planning Department, (TCP) along with expediting the IT projects at Porvorim and Chimbel. The other suggestions included promotion of Goa as a destination for IT events.

The state presently has a total of 111 certified startups, over 15 co-working and incubator spaces and over 20 e-cells and innovation councils in colleges and universities

for meeting them along with the TCP Chief Town Planners to talk about the issues related to the housing sector which are of utmost relevance.

The TCP Minister spoke about restructuring the department, improving efficiency and making TCP the most well-organised and competent department in the State. Rane said that he has directed the authorities to fast track clearance of files, soon after taking charge of the office.

He also said that he will bring uniformity in planning for

towns and cities.

“We contribute substantially to the GDP and account for almost 11% of bank credit besides having backward and forward linkages with almost 250 industries including cement and steel etc. Our continued existence, therefore, is not just desirable; it is rather crucial and imperative for the economy of Goa. We are happy the government is acting on our suggestions to reform the procedures which will result in the Ease of doing Business,” said CREDAI-GOA members

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BEYOND CLASSROOM / DR. PRADEEP SALGAONKAR

The relevance of Digital Brand Equity

The writer explains the concept of Digital Brand Equity and the factors that play a vital role in enhancing the growth of a brand in the digital space

W

e live and operate in the ‘digital world’, and getting ‘digital’ or ‘phygital’ has become the basic need for most businesses if they wish to survive and sustain. Most businesses measure their success by looking at the bottom line (profits) and the top line (gross sales). Every serious business is concerned about its brand image, brand loyalty from customers and brand equity, thus, they are striving to build their brand equity through all possible means – both in the physical and digital worlds.

The term ‘Brand Equity’ refers to the value of the brand or how public sees and perceives the brand and the image it carries in the customers’ mind. In other words, it speaks of the strength of the brand which determines its worth; and this in turn, drives sales of the brand in the marketplace.

It is a function of what customers choose in the marketplace. When a business has a strong and positive brand name and public perception, it automatically adds value to a business. Higher brand equity means that the business will have to spend less on advertising associated with gaining traffic or awareness about its offerings. Also, brand equity helps to differentiate a company’s products from its competitors. It is the reason why customers are willing to pay a high price to acquire premium brands such as Apple, Rolex, BMW, Nike, etc., though the same product features and functions are offered by various other rivals at a cheaper rate. Thus, having high brand equity is one of the most critical success factors for every business.

In the brick and mortar world, brand equity is understood via some of its important constituents such as brand awareness, brand associations, brand memorability, brand quality, perceived benefits, brand loyalty, brand relevance, etc.

However, when we speak of digital businesses, digital brands and digital brand equity, a host of questions come to mind.

What is digital brand equity – is it myth or reality? Do digital businesses and brands also have brand equity? Is digital brand equity important for businesses? Is brand equity and digital brand equity the same thing? What are the components of digital brand equity? How do we build digital brand equity? What are the measures of digital brand equity? Well, though these are pertinent questions, the answers to all these questions are beyond the scope of this

article.

Digital Brand Equity (DBE) In the digital world, digital platforms and social media conversations make up for a large part of how customers perceive and engage with a brand. A digital brand, according to Juntae De Lane, Founder, Digital Branding Institute, is the identity, visibility and credibility among consumers who discover, relate to, and interact with a brand on digital platforms.

Thus, it could be said that the DBE is the brand awareness and brand association experienced and expressed by customers through various means over different digital platforms. This could be by way of a simple ‘like’, it could be a ‘share’, ‘recommendation’, ‘comment’, ‘suggestion’, ‘complaint’ etc. over digital platforms, each having a differing degree of emotions and engagement with the brand.

Today, we live a HOHO (Hop On Hop Off) life, where the online and offline lives are fully intertwined. How people behave online, what they say and do is the exact translation of their needs in the real world.

Every action over online platforms depicts people’s needs, perceptions, values, attitudes and behaviours. There is no need of asking questions to any customer about anything to understand their emotions, feelings and behaviours. Marketers and researchers only have to listen to customers carefully, who express their opinions without even being asked. Many a times one could even get a whole target segment group when a single post by one user becomes a building block for a much bigger debate and discussion,

generating a lot of useful information.

The expressions of emotions and brand associations by customers, gathered from millions of social media posts and online interactions, updated on a daily basis, giving continuous and real-time data, would give a fair understanding about the DBE of a particular product having online presence.

Components of DBE Just as the brand equity of a product in conventional market comprises of certain components, DBE also constitutes of some important components, some of which are mentioned below: Strong Logo: is equivalent to the Brand Identity. It depicts what the brand has to offer to the customer. A logo has to be simple, memorable and impactful, and convey the value the product offers to its customers.

Navigable Website: represents the Brand’s Personality. The website should be impressive, user friendly, and convey brand promise to the customers.

Social Media Platforms: the presence of the brand on the number and types of social platforms would contribute largely to the DBE of that brand.

Using Strong and Unique Content: the type and frequency of brand communication and differentiation made in it in order to make a place in customers’ minds would go a long way in contributing to DBE. Continued on Page 50

The writer is a Founder Director, Saldots Academy, Corporate Trainer and Facilitator, Former Chairman, Goa Management Association. Email: pradeepsalgaonkar@gmail.com 48 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

CABBAGES AND QUEEN / NANDINI VAIDYANATHAN

Hospitality is a touchy-feely business!

The author speaks about the hospitality industry and why is it important for them to give the best customer experience every time

H

ospitality is tricky business. Behind all the glitz and glamour, it has so many sensitive touchpoints with the customer that it is almost as if it is set up to fail! It does not matter what the format of the business is. It may be a QSR, it may be an artisanal café, it may be a street ‘thela,’ it may be a ‘dhaba,’ it may be a high end resort or it may be a star hotel, part of an international chain. It is a tough business to keep your customer happy. It is even tougher to make your customer keep coming back.

We have been running our Indo-French eatery in Jaipur called Concoctions for the last eleven months. Not only have we learnt lessons galore, it has also made us more observant, more conscious of the behavior of people around us, and by people I mean, both hotel staff and customers alike. A week ago we stayed in a five-star hotel in Delhi on our way to Nepal. We stayed at the same place both while going as well as on the return. I am sharing my observations here based on our experience.

We had booked standard rooms. On our onward journey, we were told at check-in that we had been upgraded to a junior suite.

The unexpected largesse made us happy. But the complete absence of communication between the check-in team in the lobby and the reservation team to whom the payment had been made resulted in repeated phone calls on my mobile late at night (we had slept early) from the lobby team and my irate reaction after being woken up from sleep. So the happiness of a junior suite soon evaporated.

Next morning we went down for breakfast. I love this hotel because they have a huge and flavorful spread for breakfast. I had eaten my first course, so I left my used plates on the table and went for my second.

The assumption is that by the time you

Hospitality is tricky business.

Behind all the glitz and glamour, it has so many sensitive touchpoints with the customer that it is almost as if it is set up to fail!

come back to the table, the table would be cleared of the used crockery and cutlery.

To my surprise, it wasn’t. I looked around, couldn’t find the F&B guys, so I called out to the person who was manning the desk.

She looked at me, looked around to see if she could call out to an F&B guy, and looked away. I realised that she wasn’t going to clear the table as it wasn’t her job. She’d rather have a customer hanging on to a full plate with no place to put it down than come to the table herself and clear it; because it is not the done thing in Indian culture.

In Concoctions, Dominique who is a Michelin Star Chef not only cooks and bakes, but serves. Not only serves, but clears the table. I am a senior corporate professional, but I cook, serve and clear.

Never has it occurred to either of us that clearing the table of someone’s ‘jhoota’ plates is beneath our dignity! Many of our Indian guests baulked at the idea of us clearing the table, but not so our expatriate customers.

We also noticed that sauces, marmalade, jam, dips, honey, butter were packed in plastic. Dominique, my partner said, this is strange, breakfast service makes for first or last impression, depending on whether you are checking in or out, why would a big branded hotel like this present the table with plastic packaging?

It was intriguing because the previous day we had NYC sandwich and Greek salad in the same place and it had been beautifully presented to us. And the dips and sauces that accompanied this were in very cute

single-use bottles!

On our return, we checked-in at the same hotel. I asked the lobby person, four days ago, we had been given an upgrade to a junior suite, are we getting something similar? Her reaction was quick, no way; you are just getting a deluxe room. My point is this. Both onward and return bookings were done together. Why would you give me an upgrade once and make me feel happy if you can’t be consistent about it? I did not ask for an upgrade, so one way of looking at it was, be happy we got an upgrade once. But my mind refused to accept this inconsistency and I felt a little let down.

In all of the above, making the customer happy was not going to burn a hole in their pockets. It is just that the team had not been indoctrinated with why it was important to design the best customer experience not just by one but by every single one of them, not just once but every single time, not just in one of the touch points but in every single one of them.There has to be zero tolerance for even a single breach.

Just as customer happiness index is the most important metric for evaluating performance of a leader, it has to be the same for the bell-boy, the butcher, the baker and the bartender, no exception please.

Because when someone asks your customer how the experience was, you don’t want your customer saying very tentatively: it was good, but……..!

That but is your brand’s epitaph. Whilst most organisations boast of their employees being their biggest assets, hospitality brands carry the very same employees as the albatross around their necks!

And it never ceases to surprise me that somehow in a small mountain country like Nepal, they have cracked the code of sending their customers to la la land!

The columnist has commenced her fourth professional avatar with her bakery and restaurant business in Jaipur (www.concoctions.fr) with her French Michelin-star chef life partner. Email: nandini@carmaconnect.in Continued From Page 48

Engagement: creating brand awareness through a conscious effort to connect and stay engaged with customers visiting the brand is necessary to build DBE. Similarly, it is essential to create Brand Relevance: it is simply creating continuous moments of customer satisfaction. It focuses on whether customers agree whether the brand provides unique value to them or not, whether they find the brand useful or not.

Review and Analysis : continuous follow-ups, 50 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

reviews and analysis of data and customer voices throws up lot of useful information that could be used constructively for providing brand extensions, which in turn would create a much stronger DBE. Impact creation: this involves creating a strong digital brand image that has the power to convince and persuade customers to be loyalists and advocates for the brand on digital platforms.

Although it is not very clear as to what really constitutes the DBE, due to the

complexity and variety of factors involved, and due to a lack of research in the area, it could be concluded that the above mentioned components are essential for building a strong DBE for any brand having an online presence. Further, irrespective of the presence of a business in offline or online or hybrid format, brand equity and DBE play a vital role in enhancing growth and improving the bottom line of any business. Hence, all efforts should be taken to build a strong DBE as the future goes in that direction

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CSR INCUBATOR / KISHORE M. SHAH

Thinking beyond 2% The writer explains the need for CSR with sustainable solutions, which he believes, are achievable in the long run

I

n the last issue, I shared the story of ‘BagchiParthasarathy Hospital-IISc’. 21st century healthcare solution through a visionary philanthropy alongside the strength and opportunities Goa has to replicate similar initiatives if we co-create a visionary CSR blueprint and sincerely execute it. In the backdrop of a new Government coming in and pandemic fading, it seems to be an appropriate and relevant time for purposeful CSR. In last three months, based on my interactions with HR heads of more than 30 plus MNCs in Goa, several MSMEs, captain’s of industry, NGOs and bureaucrats who are directly connected with CSR initiatives; what came out as qualitative finding is that CSR in Goa is conceptualised, planned, executed in multiple shades, intensity, varied focus and generally short term. Though the intent is good it lacks the required power of shared vision, values, professional team and interconnectedness to SDG 4.0 (Sustainable Development Goals) its internalisation and alignment to Goa’s SDG score card and thus it fails to get the required traction, impact, and outcome.

CSR Policy Amendment Rules, 2021 has brought in more accountability not only to the corporate but also to the executing partner organisation. As per the Act, companies with a net worth of INR 500 crores or more, or a turnover of INR 1000 crores or more, or a net profit of INR 5 crores or more in the immediately preceding financial year are required to spend minimum 2 percent of their average net profit of the preceding three years on CSR. If a company fails to do so, they are liable for a penalty (subject to certain provisions).

According to one of the CSR surveys done in 2019-20, only 76 percent of the companies have spent the prescribed 2 percent and the number is likely to go down in 202122 due to pandemic extensions. More than 50 percent of the companies that have not spent the prescribed 2 percent CSR amount have stated ‘exploring opportunities’ as one of the two main reasons, the other being long term programs.’

Although the survey reports that, there is a commitment by companies to carry forward the unspent amount of the previous year(s), finding an impacting project and a suitable implementing partner will be a bigger challenge for these companies.

Talking about impact, It is imperative to focus on a bigger vision – sustainable

development goals, 2030; (SDG, 2030) esp. the goals 2, 3, 4, 5, 10, 12, 13, 14 and 17. In a humble way, we need to contribute our work towards these goals like the proverbial squirrel in constructing a ‘Ram Setu’. Corporates in Goa need to align all their CSR activities with SDG-2030 as the reference and ensure that their CSR team/ partner guides them in preparing the appropriate reports for their ‘Annual CSR Reports’. CSR Amendment Rules, 2021 has made it mandatory as far as the impact assessment is concerned. Any CSR spend above INR 10 crores, the company needs to do the impact assessment for the project above 1 crore and 1-year duration and this has to be carried out by a third party.

It is thus important to either have an inhouse expertise or external agency who has the requisite knowledge, skill and capability to offer ‘one stop solution’ to all your CSR needs, right from need assessment to impact analysis as per the Companies Amendment Act, 2019 & 2020 as well as CSR Amendment Rules, 2021.

Having said this, we need to think, in all our CSR endeavours, beyond 2 percent mandated by the Act. To conceive, design, and implement sustainable and scalable projects in congruence to SDG goals, we need to focus with a sense of urgency on those areas where Goa has a reasonably good score but needs to further excel and catch up in those areas where we have slipped down from the previous years.

Mining has shutdown, tourism is at an all-time low due to covid and now due to the existing tensions between Ukraine and Russia. On an average almost 28,000 plus graduates pass out every year, out of which almost 62% are girls. The majority

The writer is the Managing Trustee GDP Foundation www.gdpideaz.org Email: managingtrustee@gdpideaz.org 52 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

of graduates are first generation learners and come from an economically challenged background. The rural youth is cut-off from the mainstream and with poor digital connectivity it further hits them hard. Traditional jobs, livelihood, business opportunities are scarce and are also becoming obsolete. 36 plus traditional Goan art forms are on the verge of extinction.

The state has an 18% geriatric population.

Migration to metros /other states/countries for professional education, jobs has made us re-think on both availability and affordability of the education ecosystem in the state.

But there is a silver lining as well. Goa falls amongst India’s two biodiversity zones.

It is one of the most popular destinations internationally with state-of-the-art seaport; seamless air connectivity and a four lane express way. The state houses IIT, NIIT and Asia’s oldest medical institute.

Industrial estates with leading MNCs like Siemens, IFB, P&G, Nestle, Finolex, Deccan Fine Chemicals, Putzmeister, Berger Paints, Colgate, etc. We have a pharma hub with more than 28 pharma companies. Goa has over 100+ NGOs and 3000 self-help groups.

Time is apt to revisit our perception of CSR as limiting it is to signing a cheque or then as a mere PR strategy, the need of the hour is to think beyond 2%. That’s because CSR is not just about quantity, but also quality. It is about needs to be addressed with sustainable solutions which are scalable in the long term.

NGOs also need to re think on their projects/programs and factor more ground research, business models and on board professionals to run the show so as to ensure that they do not struggle to sustain and Continued on Page 54

INVEST RIGHT / MAHESH PAI

How much money do you need to retire?

The writer talks about retirement planning and its importance in the present economy

T

he only financial goal for which you do not get a loan in today’s world is retirement and most of India’s working class isn’t preparing for a life after retirement.

Did you know that only 1 out of 3 Indians actually save money for retirement out of which most people above the age of fifty feel that they should have started out earlier?

In India, people anticipate help from their families.

Over 68% of the working age people expect their children to support them at some point in their retirement. However, these expectations are not met in reality as only 30% of the people receive financial help from their children.

Globally, nearly half of the people in the working age are giving greater importance to living in the present and enjoying life now rather than planning for the future.

Many people live on a day-to-day basis financially which could store up problems in the future. These statistics show that we need more education on the ways to save for retirement.

What is the right age to retire?

There is no ‘right age’ to retire but in India the retirement age for working professionals or government employees is 58-60 years. But does this mean that you should retire at 5860? Not really. If you have enough channels of passive income, savings and investments, the age of retirement doesn’t really matter.

If you have enough regular income to sustain the same lifestyle even after you stop working then age is just a number, you can retire any day that you want to.

How much money do you need to save in order to retire?

You need to visualise the kind of retired life that you want to lead and then make sure that your cashflows are in sync with that lifestyle. For example, if you wish to travel

There is no ‘right age’ to retire; but in India the retirement age for working professionals or government employees is 58-60 years more during your retirement, you will know how much money you need to keep aside. A simple 50/30/20 saving rule can help a long way. The rule suggests allocating 50% of your income to needs, 30% wants and 20% to investments and savings. Considering inflation you should strive to increase the savings from 20% to 25% or more.

How much should you invest now if you want to retire?

It is never too late or too soon to start your retirement planning. Depending on your current financial situation and age, the following tips can be useful for you to set up an investment plan for retirement right away: 1. Evaluate your current financial situation Assess how much money you have saved versus what you will need. You can use the 4% rule that will give you an idea of how much money you can withdraw from your retirement savings per month (4% of the total amount) while maintaining a healthy balance and investments.

2. Pay attention to your income sources Additional income can boost your retirement savings. This could include passive income generation through assets such as real estate, stocks, mutual funds, annuities etc. Most working professionals do not have the luxury of a pension. Instead they can invest in products or plans that give dividends, high interest rates, and annuities.

3. Create retirement goals Investing based on goals is a must; you need

to have a figure in your mind on how much you will need when you retire. Calculate your monthly expenses, add inflation to it and that will be your need of regular guaranteed income post retirement. You must also take into account emergencies, trips, and other such events while deciding on your goal. Try to clear off debt before your retirement and if you have assets then you will need additional funds to maintain it. Chart your future expenses, current savings, and formulate the plan.

4. Set a date Your retirement date may not be as special as your birthday or the first time you bought a car. But it is still important. Having an idea of when you will retire can help you prepare for scenarios where you may have to retire early or later than expected. A tentative retirement age can even help you plan your investments around high-risk products and debt products accordingly.

5. Consult a Professional Advisor Planning for retirement is not as complicated as some might think. But it is still pretty difficult to do if you have a full-time job and not much knowledge about all the products available.

Google may not be the best answer when it comes to choosing investment options.

More than being difficult, it is important to create the perfect roadmap to retirement by identifying the right investment options based on your risk tolerance and investment goals.

To conclude, Retirement Planning requires a careful outlining and execution.

Make sure that you have a retirement date in mind. But be cautious of scenarios where you may have to retire early or late. Plan for your retirement savings by setting aside money. Compare where you are and where you wish to be

The writer is an investment consultant and business coach. Email: mahesh@maheshpai.in Continued From Page 52

excel in their mission.

Let me share an example of how a thoughtful idea can turn out to be resourceful. The NMC (National Medical Commission) is actively considering to introduce ‘Family Adoption Program’ (FAP) as a part of MBBS training curriculum with a visionary aim to ensure enhanced healthcare services in rural areas.

Each medical student may be required to adopt five under privileged / rural 54 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

families to monitor their health conditions regularly and advise them accordingly.

This intervention will have double benefits.

On one hand it will build empathy among medical students, their connect with rural/ urban poor and on the other hand it will ensure that the under privileged who need personalised care but cannot afford can avail of it. We need to think and re-calibrate our perception towards CSR. Human behaviour are voluntary acts by individuals based on their risk benefit

perceptions using socially conditioned value systems. Hence, we have to ensure that we build collective passion and willingness to focus on sustainable CSR programs and projects for the state based on social research and not personal choices.

Only this will create a positive impact on the underprivileged and society at large. It’s time we need ‘CSR appropriate behaviour’.

Let us collaborate in making this land an enjoyable, progressive and inclusive place to live in

SANTOSH KENKRE / WISE WORDS

Tips for efficient working and living The writer lists out more tips in order to work efficiently and live a fulfilling life

T

he idea of life is to strive for efficiency and happiness. Neither of which can be sought in mutual exclusion of one another.

Here are a few tips that I wish to share with you, tips that I have learned during my near four-decades of professional interactions with high performing individuals.

Focus: Once, Bill Gates and Warren Buffet were having lunch. Bill’s father asked them to spell out the one single trait which had made them so successful. Both said ‘Focus.’

Since this word comes from the world’s two most successful people, we need to learn from it. I have seen many people doing all types of activities in life and then end up being ‘Jack of all.’ It does not mean that one should have only one type of commercial activity and no extracurricular interests.

One must contribute to society and also may have more than one commercial activity.

But, one should never lose focus of his main commercial activity, which I may say is the ‘bread and butter’ activity. In short, more the focus, more the chances of success.

Health: It is said ‘Health is Wealth.’ One realises this as one gets older. Youngsters should realise that if they take care of their health in their youth, they can prolong their life and lead a happier life. Two most important contributors for good health are diet and exercise. Frequently eating too oily/salty/sweet/spicy food can ruin one’s health. 30 minutes to 60 minutes daily walk is quintessential for good health. Adequate rest is also necessary. The above can be ignored only at one’s own peril.

Indexation/storage/retrieval system: A robust and efficient system for indexing, storage, and retrieval system goes a long way in efficient working. Many times, files go missing; documents which we handled days back are missing. All this causes loss of time, effort, money and can be unneccessarily stressful.

Be positive and hold no grudges: Your time on earth is measured. Use that time (and life) in being positive towards everything and everyone. This will convert even your enemies to your friends; of course due precautions needs to be taken whilst being positive. Holding grudges can reduce your friend circle. But the worst part is grudges have a harmful effect on your health in the long run. It also slows down your progress

Warren Buffett

Once, Bill Gates and Warren Buffett were having lunch.

Bill’s father asked them to spell out the one single trait which had made them so successful. Both said ‘Focus’ in life. Instead, being positive will make your family, staff, customers, suppliers, and friends love you and more importantly be co-operative with you.

Say No: One comes across many opportunities and avenues in life. But life is short, so one should learn to say no to avenues/work which have low priority for you. I have seen many people who hesitate to say no, thereby wasting time, money, and effort.

Handling Documents: Many people cursorily read a document and then leave it for rereading later. This consumes more time.

So, one should read/handle each document only once and pass it on for execution. This will also avoid papers piling up on your table. As discussed earlier, quick decision making also helps clearance of documents.

Keep meetings/conversations short: I am a consultant for Goa University for the last 37 years. They have an important annual meeting, which used to last a full day. Later when Dr. Nigam joined as Vice Chancellor, he finished the meeting in only two hours. If I may dare to say, any meeting/conversation can be concluded tactfully within half the

Bill Gates

time generally taken if conducted well with co-operation of all. We should learn to keep conversations short and to the point and don’t allow sundry talk, which is exactly what Dr. Nigam did.

Picture this: Ten minutes saved everyday add up 8 days of working time in a year (10 minutes x 365 days ÷ 60 minutes = 61 hrs = 8 days).

Planning your schedule: Such schedules could be for your day, week, month, or a year OR it could encompass your lifetime: Sachin Tendulkar was a student of a school in Dadar (Mumbai), where my aunt was the headmistress. He was enrolled in Dadar, far away from his home in Bandra, since the Dadar School had excellent cricket setup!

Such was his planning. We must plan our schedules as per the time and tasks before us. I am told that L.N. Mittal never rushes.

He listens to presentations of even junior staff very attentively.

So, always leave some spare time in between appointments/tasks. We try to accomplish maximum in minimum time, thereby doing injustice to some tasks/people. Practice a high level of delegation. Imagine how our 72 years old Prime Minister runs the country with all governance complexities, elections, wars and all. Those who ‘fail to plan’ actually ‘plan to fail.’ Lastly, don’t fail your family since your health is most important for you as well as for your family. Your working style has the maximum impact on your health

The columnist is a senior chartered accountant. He is Chairman of Indo-American Chamber of Commerce, Goa; and Director of EDC, Goa. Email: srkgoa@gmail.com 56 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

WOMEN AND HEALTH / DR EMANUEL GRACIAS

Why pressure to get pregnant is a peril The doctor-writer advises ladies to get into the family way only after ticking all the right boxes

W

hen will you deliver the good news?” “Are you going to let us be grandparents anytime soon?” It is already been a year, why isn’t the bun in the oven yet?”– nosey Intrusions of this sort sprawl shamelessly in our social circles. While they seem innocuous at the outset, they are, in fact; incredibly incriminating. Giving into these pressures is bound to hound the pleasures of life, parenting, and childhood treasures.

The pressure to get pregnant is no longer solely an extension of social constructs. It has been firmly embedded and internalised into the psyche of individuals within this collectivistic framework. A regimented timeline is forged – Earn a degree by 21, suitably employed at 23, hitched by 25 and pregnant by 27. We have been indoctrinated with this narrow projection since childhood and breaking away from this format leads to being labeled as ‘deviants’. Delaying pregnancy beyond one year of marriage sparks speculations of infertility, forcing couples to get pregnant for the wrong reasons: to prove that they can get pregnant.

While doctors don’t begin infertility treatment before one year of actively TTC (Trying to conceive), feelings of inadequacy, guilt, and shame whelm the very being of couples who fail to show up with a baby within one year of their marriage. Moreover, instead of basking in conjugal bliss, couples are forced to worry to their wits’ end, with a wave of distress wafting about, taking over their lives, their youth, and their joy.

Such turbulence is not only instigated by family elders, but also by friends, relatives, and peers who are planning a baby, or are already parents. More often than not, the urge to keep up with the rest of the lot, the desire to synchronise and relate better with expectant friends, upswings a pseudo coercion to have a baby.

The situation is even harrowing for women. Like inputs completely used up in the production process, women are viewed as a means to the ultimate end of sustaining a lineage. It is as if the worth of a woman is attached to her ability to procreate, and she is only a vessel to hold an heir. The reproductive responsibility has been a woman’s burden to bear since times immemorial. Every woman is painted with the same brush, reduced to the idea of an archetype – that they are all born with a messianic maternal instinct.

Irrespective of whether she is ready to be

a mother, a woman is compelled to initiate the family planning process. The pressure to procreate is disproportionately exerted on women. When women voluntarily choose to delay pregnancy, she is vilified, scorned, and ridiculed for her choice. If, for any reason, a couple is unable to conceive within the ‘socially acceptable’ timeframe, it is the woman who bears the brunt of ignominy. She is put through a variety of tests to determine whether she is ‘barren’, while her partner is sympathised with for his ‘misfortune’.

“Your biological clock is ticking, hurry up!” – this intramural exasperation that subconsciously spirals into a spine-chilling realisation is another force of urgency that unfortunately has the cards stacked against women. Women who wish to build their careers are left in a lurch, a predicament of sorts – whether to pursue their passion, or shove it in the backseat, letting motherhood take the wheel.

While statistically, the chances of pregnancy drop after the age of 38 for women, it does not mean that conceiving at this age is an inconceivable phenomenon.

Fertility is highly individual; depending on various factors unique to the woman and her partner. However, that is something that could be worked out with the help of a physician who is well acquainted with the medical history, conditions, and lifestyle of the couple.

Women could even opt for egg freezing, enabling them to get pregnant when they are ready, at the right time, in a way that will not interfere with their current goals and aspirations. Preserving younger eggs can help women conceive in the future. It can perceptibly aid with handling the ominously brewing ‘baby panic’.

Unsolicited advice and surmises from different opposing directions creates distress, doubt, and dejection. Miscommunication, misunderstandings, and misconceptions spring up between couples, adding to their taxing travails. Additionally, stress induced by this turbulence unfortunately

has a bearing on the hormone levels and menstrual cycles, thereby affecting the fertility of the couple.

Getting pregnant to satisfy social expectations is detrimental not only to the couple, but also to the offspring produced out of this absurd arrangement. Similarly, when couples compel themselves to have a baby only to fix their marriage or to fill a void, they fail to realise what they are putting at stake. Having a baby when you are not ready to become a parent buoys a feeling of hostility towards the innocent child. Parents feel detached and spiral down the lane of emotional neglect, apathy, and even abuse. For no fault of their own, children, being vulnerable to the vices of their parents, suffer from a traumatic childhood. The unresolved trauma lays the groundwork for a lifetime of resentment towards the parents.

To all those on the brink of susceptibility, to those trudging the threshold, surrendering to the social stronghold; just hang in there. Don’t give in just yet. Turn a deaf ear to the commotion, a blind eye to the distortion. Conversely, to those on the other side of the fence, it is not your place to have a say in the life decisions of others.

Avoid antagonising a couple for enjoying a child-free life. Do not vilify a woman if she chooses not to have a baby or to have one later.

Readiness, willingness, and preparedness are key to contemplating this crucible. Block out the toxicity. Introspect on whether you are genuinely ready to bring a new life into this world. Remember that it is not those exerting pressure, but you whose life is about to change.

Being open to counselling plays a major role in attaining clarity and making better choices. Join support groups if that helps in validating your decision to delay pregnancy.

It is always reassuring to know that there are others in the same boat.

As far as the pressure is concerned, a rational, realistic appraisal of both internal and external factors in play will help to clear the quandary. However, don’t be a spectator in your own life. Do not passively surrender to the tide of tension that the pressure creates. Get pregnant if you are ready, willing, and prepared; with a pure, untainted intention.

But most importantly, don’t get pregnant for the wrong reasons, and definitely not to fill the baby-shaped hole in your heart

The writer is an Obstetrician and Gynaecologist at Gracias Maternity Hospital in Margao. Email: emanuelgraciasmd@gmail.com APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 57

MARKET KA SAMAY / SAMAY SHETTI

Markets are moving towards targets and levels

The writer shares an overview of the stock market at large with a focus on sector-wise movements in April

T

he Indian Stock Market has come a long way from being a taboo subject, to a topic of discussion on the dinner table.

As Warren Buffett puts it, “The stock market is a device for transferring money from the impatient to the patient.” Time and again, the markets have proven it, over all these years markets have moved in all its ways, it has shown great rallies and even greater falls; it has tested patience of investors in its year long consolidations, made and unmade fortunes in it bull and bear trends – still it has remained unobserved by the masses. Then came a time which changed the way Indians saw it forever; the straight rally of 11000 points following the covid crash where the Markets tasted the level of 7550.

The market had moved more in this year and a half than it did over last 10 years. This rally could not remain ignored; this was a time of easy money in the Market. Profits happened left, right and centre, hence, the number of demat account holders doubled in this period, 3.6 Crore in March 2019 stood at 7.7 crores as of October 2021.

That historic rally took Nifty to the heights of 18600, and since then it has been range bound for the last 6 months, between the high of October of 18650 to low of March at 15650.

Shrugging the Holiday Mood: Well, as it is said for any relationship; the real deal starts once the honeymoon period is over, and for all the new romantics in the market, the easy phase is over.

With the world getting back to its old self, the Markets did so too and when it did, again many lost the money made during the rally and more, as from here only those who are serious and patient shall survive as Buffett put it well.

In a rangebound market, making money is the most difficult and for those who wish to learn, the process is tedious, as in a range bound market the only way to make money is through derivative market or going stock specific, and both demand far greater attention than following the trend of the indices.

The Bate and Feeds: Over the last few months Indian Markets have seen a lot of volatility owing to various reasons. Starting with the Foreign Institutional Investors booking their profits, the Omicron variant scare, US Bond

Yields, the high inflation rates, credit policy of RBI, the Union Budget, interest rates, the upcoming monsoon reports, Brent crude prices, the quarterly result season the major one for now being, the Russia-Ukraine War. What the charts say: 24th February, the day the war began, the Indian markets opened with one of the biggest gap downs, at over 500 points with a close of more than 800 points that single day. With the opening way below ‘200 day moving average’ (200 MA) mark, the fall intensified till 15650 from where a sharp reversal was seen. Through the month of March, Nifty rallied back to over the 200 MA, consolidating there over a week saw a continuation Rally up to the ‘200 Double Exponential Moving Average’ (200 DEMA) mark, a one way rally of 2430 points.

A strong correction has taken place from this high at 200 DEMA mark, since April 5 and has seen a 1245 points dip since then with the largest one happening on charts on 19th.

Which has again broken the 200 MA mark coupled with the trigger of the Russian statement while struggling to hold the levels on 18th April’s gap down after the long weekend and overshooting commodity prices headed by crude oil. A fresh breakout on the 21st April expiry can be seen as a strong indication of a reversal, as the markets opened above the 200 MA and has formed a strong open Bullish Marubozu candle.

Sector Outlook: The month of April has seen four expiries till now and is heading towards a monthly expiry next week. These four weeks has seen a lot of stock specific action though the overall move of the indices have been downwards since the first expiry.

The Oil and Gas sector saw a rally owing to the global price hike, PSU stocks like GAIL, IOC saw unprecedented highs while ONGC, BPCL showed decent gains.

Owing to this, the paint stocks, like Asian Paints, Berger Paints took a dip along with Chemical stocks like SRF, Deepak Nitrite, Tata Chemicals, to increased production cost.

While fertilizer stocks like Zuari Agro, RFC, Deepak Fertilizers saw a rally owing to reports of a good monsoon.

The Defense sector too saw a sharp rally with the fresh fund allotment by the

The writer is a Technical Analyst and Investment Consultant. Email: samaysshetti@gmail.com 58 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

government to boost home grown defense equipment; so strong fresh moves have been seen in stocks like Bharat Dynamics, BEL, BHEL, HAL, Bharat Forge and BEML. The sugar stocks like Dhampur Sugar, Mawana Sugar, Balrampur Chini, Dalmia Sugar, Rana Sugar, KPR Mills too have seen rapid growth due to increased exports this year coupled with global shortage in sugar due to production being affected in Brazil and Thailand due to unfavourable weather and also the ethanol play.

Moreover, the textile stocks have seen a spike owing to the removal of import duties on cotton till 30th September, stocks like Ambika Cotton, Arvind, Indocount, Welspun Corp, Siyaram Silks, Monte Carlo have all seen a strong up move.

The banking sector has been comparatively weak however, after the short rally headed by the news of the merger of HDFC and HDFC bank, the banking segment has lost its strength with the same HDFC Twins, now trading at a strong support, have been pulling it down.

Axis and ICICI banks have held its ground against the trend though. The fourth expiry saw a good move on the Bank Nifty too and shown good buying on the weekly chart from the 200 DEMA mark asn closing just above 20 EMA at 36911 level.

The result season has seen the IT sector showing the greatest weakness on almost all the counters, with Infosys leading the foray, TCS, Tech Mahindra, LTI, Birla Soft, Mindtree, Mphasis, Persistent Systems. Do keep an eye on these and most of these are now in a strong ‘Buy Zone’ after a healthy correction.

In view of the monthly expiry, the fear of a major downfall loomed till Nifty remained below the 200 MA, the psychological level of 17000 was defended well on the fourth expiry owing to the reversal, it will be interesting to see the trend in the last week as the weekly chart showed the week end with a bullish hammer candle on the expiry day.

Ending Note: The jolly ride of the market is now over, from hereon, until it is all about targets and levels. Even for the long-term investors, if you plan to invest in stocks, follow the process of marking the stock, identifying its support levels a buy only on the right levels Reader discretion and research is suggested before investing in any stocks based on the above insights. This publication does not promote any stocks or companies and shall not be held responsible for any action of the readers.

BON APPÉTIT

Desserts and savouries to savour in Panjim

@businessgoa

Larder and Folk brings the best of sweet and savoury creations to delight one’s taste buds Babka Chocolate

A

Dan Dan

By SYBIL RODRIGUES

cute cozy little café located at Mala, Larder and Folk threw open its doors to the public in November last year with the aim of serving a variety of sandwiches, bowls, doughnuts, buns and pastries.

The brainchild of Priyanka Sardessai, a trained chef from the Culinary Institute of America, who started cooking from her home when the world came to standstill in 2020. She began with trials during the first lockdown at home by setting up a kitchen in her home and began taking weekly orders with Siddarth Sumitran, her husband and business partner, a photographer, who takes care of all the packaging designs and logistics. Priyanka worked from home for a year having weekend specials and curating private events for people who requested her culinary expertise at luxury villas around Goa. She soon realised that she didn’t have the kitchen space and manpower to do larger events and began to look for a place before the second lockdown.

The second lockdown threw a spanner in the works and Priyanka decided to stick to a takeaway model. They found a place they were looking for in Mala and set up a production kitchen to cater to private events.

Initially Priyanka opened up her place with no seating and wanted to have a bakehouse concept where people would rush in to buy their bread early in the morning. She started off with a variety of sandwiches, bowls, basically everything with which she experimented with from home first. Then she put together a team of cooks, who have experience and have traveled, so they could contribute their offerings to the menu that Priyanka had curated. Later she got a few

60 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

tables and stools and every day the café sees all the seats full. They have also registered themselves on food delivery apps like Zomato and Swiggy and they get plenty of orders which ensure that they run out of stocks by afternoon, which Priyanka says is a great start for them.

Instead of restricting themselves to a set menu, Priyanka and her team play around with a lot of culinary ideas. Whatever ingredients are available in the market for the day, they experiment with those, making it a fun time for her team and ensuring customer satisfaction at the same time.

Priyanka is hell bent on having the bakehouse concept which has yet to pick up in Goa. Apart from her café, Priyanka also puts together gift hampers with pantry essentials especially her in-house hot sauces and chilli oils.

The menu is handwritten on a blackboard nailed on the wall which feature some of their specialties like sandwiches (Fried Chicken Sandwich, Roast Beef Dip, Banh Mi with pork/chicken/eggplant options); Bowls (Dan Dan Noodles, Sesame spring noodles, both with pork/chicken/ mushroom); Doughnuts (Braided, Milk Chocolate/Vanilla Bombolini, Tiramisu, Limon); Buns (Dark Chocolate, Salted White Chocolate); Pastries (Gooey Chocolate Tart, Banana Cream Pie) and Cookies.

Having worked for the Red Rooster Harlem in New York, Priyanka loved the southern fare that they served, especially the fried chicken and incorporated it into her menu. The Banh Mi idea was from a trip to Vietnam and since the couple love sandwiches they put together their own

Mexican Fried Chix

specialties to feature on the menu. The pulled pork sandwich is Siddarth’s idea which he put together for himself but the entire team loved it so much that they put it on the menu. The Chocolate Hazelnut Babka was the first thing that Priyanka made at home and they offer mini babkas at the café which get sold out by mid afternoon.

Apart from the coffees like espresso, Americano, latte, and cappuccino, the café serves a Ginger Soda and a Hibiscus Iced Tea which are refreshing drinks for a hot summer day.

We tried the Vietnamese Banh Mi selecting the pork option. Juicy chunks of pork in crusty bread, pickles & paté with their in-house hot sauce made for a delicious and filling snack.

The Sesame Green Noodles served with minced chicken and scallion-coriander sauce which was bursting with flavour, ensures one of a wholesome and tasty culinary experience.

All their pastries were sold out and Priyanka served us her famous doughnuts, the Limon Doughnut and Milk Chocolate Bombolini. The Milk Chocolate Bombolini consisted of a pillowy soft doughnut bursting with rich and creamy chocolate, and dusted with sugar, while the Limon doughnut was filled with tangy cream and had lemon glaze and garnished with lemon zest. A perfect ending to a delicious meal; the doughnuts are a must try here.

Larder and Folk is a must visit if you are a sandwich person and have a sweet tooth.

The bonus is meeting the cheery Priyanka and the smiling Siddarth and will ensure that you enjoy their culinary delights they have to offer

GOA BUZZ

business-goa

Celebrating Goa’s Business Stars

Over the last ten editions, the Business Goa Awards have turned out to be a much-awaited event. In a post covid world, the event has attained a special position in the hearts and minds of Goan entrepreneurs, due to the sheer resilience of Business Goa magazine’s quest to be on the news-stands, despite the raging pandemic.

The Awards were conceptualised to honour and felicitate the movers and shakers of Goa’s business landscape –

by Goa’s only business magazine. This year, as always, the event saw many past awardees rooting and acknowledging the efforts and achievements of their friends and competitors, alike.

Chief Minister, Dr Pramod Sawant was lavish in his praise towards the magazine and the Awards for having been the flag bearer of entrepreneurship in Goa. Rohan Khaunte, Tourism and IT Minister, was seen mingling with stakeholders of the tourism and IT sector. MLA from Vasco, Daji Salkar was impressed with the event. Considered to be an excellent ground for business networking and bonhomie for industry captains, the Awardees seemed proud of seeing their efforts and work recognised by Goa’s business class

Ralph de Sousa

Carolina de Sousa

Samir Surlaker

Lata Bhatkuly

Shammi Salkar

Daji Salkar

Tanmay Kholkar

Shuja Kazmi

Nandan Kudchadkar

Dr Sangam Kurade

Dr Tosha Kurade

Vijay Thomas

Rohan Khaunte

Vaishali & Parag Joshi

Swapnil Kamat

Siddharth Shirodkar

Abhijit Surlakar

Clarissa & Ryan Costa

Satish Kumar K S Dr Pramod Sawant 62 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

Sujay Surlaker

Mahendra K Gupta

Manoj Caculo

Meghana Caculo

Elaine de Lima Pereira Oscar de Lima Pereira

Anil Counto

Urvija & Harshvardhan Bhatkuly

Kiran Thakur

Raul Fernandes

Joyce Lobo

Santosh Kenkre

Dean Menezes

Atul Pai Kane

Gaurpriya Pai Kane

Shekhar Sardessai

Carl Costa

Joshua Silveira

Deepak Tripathi

Namita Tripathi

Emmie Silveira

Rajkumar Kamat

Neeraj & Priya Gupta

Dr Vivek and Dr Suhani Mendonsa

Kanak & Shobit Gupta Mangirish Salelkar

Sonia Shirsat

Pritam Bijlani

APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 63

GOA BUZZ

@businessgoamagazine

Gaurish & Pratima Dhond

Sheetal & Sunil Pai Kane

V B Prabhu Verlekar Dr Caitaano Fernaandes Aditya Desai & Rajasi Dhavalikar

Sandip Bhandare

Kirit Maganlal

Mahesh & Medha Pai

Sachin Pai Bir

Vishwanath Pai Bir

Sreekant Pai Bir

Denzil Xavier

Ajit Dalvi

Saraj Kumar

Caesar Fernandes

Dr Sean Da Silva

Sujay Mishra

Ashok Dhond

Saeesh Dhond

A Durga Prasad

Kavya Durga Prasad

Paul Chadda

Jayesh Raikar

Prashant Kumar

Divya Turakhia

Apurva Turakhia

Supriya & Pramod Rane

Archana & Guruprasad Pawaskar

64 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

Shilpa & Damodar Raikar

Dhruv & Neha Madan

Gaurav Kenkre

@businessgoa

Angelo Nunes

Ricardo D’Lima

Yashodhan & Pallavi Divekar

Dhruv Rajani

D T Barde

Sandeep Mukherjee

Harsh Rajani

Dr Sajal & Sairaj Dhond

Manoj Patil

Ninil D’Souza

Atul Jadhav

Sanjay Amonkar

K D Row

Sarika & Pradeep Varshnei

Prashant Joshi

Sonali & Nilesh Amonker

Dr Emanuel & Jessica Gracias

Akshay Joshi

Milind Anvekar

Amin Ladak

Rohan Bhandare

Rajesh Jog

Conrad & Monisha Stephen

Murale Santhanam

Dr Vikram Dukle

Priyanka Row

Danira Vaz & Caleb Fernandez

Anant Navelcar

Atul Naik

Pallavi & Hemant Arondekar

Satyen Keny

APRIL 2022 | BUSINESS GOA INDUSTRY DOSSIER | 65

GOA BUZZ

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Pranav Piyush

Tulio de Sousa

Smita Patil

Mahesh Patil

Dr M S Dayanand

Raghu Shetiye

Raunaq Rao

Abhit Naik

Pradnya Keni Naik

Arati Kamat

Vishwesh Kamat

Rahul Shankhwalker

Laura Robin

Raya Shankhwalker

Jovito Braganza

Kanchan Desai

Carlos de Sousa

Karla Maria Sousa

Maya Shirwaiker

Dr Shekhar Shirwaiker

Saloni Shirwaiker

Rohan Warty

Srinivas Pai

Pradeep Bhat

Maneck Contractor

xxxxx

Anjali & Dr Harshad Kamat

Pooja Bedi

Dr Manik Sardessai

Sharadchandra Sardessai

Mahesh Prabhu

66 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

Dr Tejashree Colvalcar

Rajesh & Sonal Kakodkar

Proudly presenting Manglam’s River Valley, from 94.45 Lakh* onwards.

Home on a hillside. Life by a riverside.

Spread across 27,000 sq.mt. and located on the Kadamba Plateau is the home that says it all: Class, Comfort and Global experiences. A riverside project, Manglam’s River Valley is the home that you have always desired. And there’s no better occasion than this season to buy it.

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GOA BUZZ

Dr Astrid Monteiro

www.businessgoa.in

Edward Monteiro

Sanjay Sardesai

Ajay Sardesai

Anup & Karishma Kudchadkar Dr Archana & Dr Vinayak Deshpande Prasad Kamat Maad

Kabir Pinto Makhija

Sujay Gupta

Stephen Fernandes

Marlene Meneses

Carlos Meneses

Dr Damodar Dicholkar

Bindiya Dempo

Dr Lenny da Costa

Nidhi Kenkre

Rajesh Kenkre

Sandeep Bharne

Shammi Bharne

Yogish Dempo

Aliston Dias

Skitter Faia

Sean Faia

Asha Arondekar

Amol Arondekar

Nagueshrao Sardessai Siddharth Nagarcenkar

Team Business Goa

Annalise Gouveia

Sybil Rodrigues

Rakshama Naik

68 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

Sweta Sharma

Samay Shetti

Shanice D’Souza Mayur Santineskar

Sagar Bagkar

NEWSMAKERS Major General Michael Anthony Jude Fernandez to be Lieutenant General

Major General Michael Anthony Jude Fernandez has just been cleared for Lieutenant General, the second-highest active rank in the Indian Army. Maj Gen Fernandez will be the eighth Goan to achieve the rank. His father hailed from Saligao, while his mother – born in Nairobi-Kenya – was from Aldona.

Major General Fernandez completed early education at the ICSE St Joseph’s Boys High School and then at the ISC Bishop Cotton Boys School, both in Bangalore, by 1984. He graduated from the 72nd Course (Bravo squadron) of the NDA-Pune in 1987.

He was commissioned from the 82nd Regular Batch of the IMADehradun into the Corps of Engineers (the Madras Sappers) in June 1988. In his over 33 years in the Indian Army, Major General Fernandez has served in varied operations and terrain (Plains and High Altitude) in command, staff and instructional assignments. He was part of the Indian Peacekeeping Force in Sri Lanka (1989-90) and a Sector Engineer at UNIFIL (2001-02)

@businessgoamagazine

Jose Manuel Noronha to head key panel of public service commissions

Jose Manuel Noronha, chairman, Goa Public Service Commission, has been appointed as the chairman of the standing committee of chairpersons of Public Service Commissions (PSC). He was appointed at a national conference held at Thiruvananthapuram, Kerala.

Noronha took over from Dinesh Dasa, Chairman, Gujarat Public Service Commission, who retired in January this year. Noronha will hold the position for a period of three years. The composition of the present standing committee as decided at the national conference will have Noronha as chairman, and chairpersons of West Bengal, Andhra Pradesh, Arunachal Pradesh, Odisha, Kerala, Bihar, Uttar Pradesh, Gujarat and Uttarakhand as members

Varad Karmali receives PhD in ‘Umanned Aerial Vehicle Technology’ (drone)

Varad Karmali is the first person in the State to be conferred with a doctorate in Unmanned Aerial Vehicle (UAV) technology. An event manager by profession, Karmali received his Doctor of Philosophy (PhD) certificate, from the Indian Management School and Research Center, Mumbai.

Karmali has been working in the field of drones for the past eight years. In 2020 he became famous for his beautiful aerial photographs taken during the 2020

Dr Ira Almeida posted as Director of the National Health Mission

Dr Ira Almeida has been posted as the new Director of the National Health Mission. Earlier, she was the deputy director of Health Services and after Dr Jose D’Sa competed his term last year, she held the post of director. Her early years in the profession began with her graduating with MBBS. After MBBS, Dr Ira studied paediatrics in GMC and later moved to Hospicio in Margao, where she has been working for the last thirty years.

Dr Almeida was at the helm of affairs as the state battled the first phase of the pandemic. She was appointed as the nodal officer of the state’s first covid hospital in Margao and she remained in-charge till GMC dean Dr. SM Bandekar was appointed to head Covid hospitals. Earlier this year, she was made in-charge of vaccination in South Goa

Dr Geeta Kakodkar appointed Director of Health Services

Dr Geeta Kakodkar took over as the new Director of Health Services.

Dr. Kakodkar who had joined the department in 1991 was project director of the Goa State Aids Control Society for the past 10 months. Prior to that, she served as the Deputy Director of Public Health and Medical Superintendent at Asilo Hospital, Mapusa.

Dr. Kakodkar intends to focus on improving the existing programmes by the government, prevention and early detection of lifestyle diseases like diabetes and hypertension. She has experience in clinical medicine, administration and implementation of public health programmes and was actively involved in the control of the Covid pandemic.

Dr Kakodkar was also the Chief Medical Officer in charge of administration, organising and monitoring of the non communicable Disease Control Programme which includes cardiovascular disease, stroke, diabetes, blindness, deafness and cancer

70 | BUSINESS GOA INDUSTRY DOSSIER | APRIL 2022

lockdown.

His services have also been used by the Goa Police for graver issues such as surveying crowded areas like Zuari Nagari, Sancoale etc during the first wave of the pandemic. Drones have been Karmali’s passion since young and he is one of the few fortunate individuals to research a subject that he loves

154 1. In 1982, in which city on India’s east coast was the Rashtriya Ispat Nigam Ltd established?

2. ‘Prakriti ka Aashirwad’ is the advertising punchline of which FMCG brand?

3. Manoj Badale is the lead owner of which IPL franchise?

4. Brian Carvalho is the editor of which global magazine’s Indian edition?

5. Aman Gupta and Sameer Mehta are fouders of which homegrown audio and wearables startup?

6. S N Subrahmayam is the MD and CEO of which infrastructure major?

7. Which computer brand offers the ‘Travelmate’ laptop range?

8. ‘Carens’ is a brand of cars made by which auto manufacturer?

9. ‘Mithuna’ is a brand of Indian single malt made by which Indian spirits company?

10. Identify this philanthropist Answers to BG Quiz 153: 1.Coca Cola Bottle 2. Marubeni 3.Carrefour 4.

Ashoka Pillar 5.Carat 6.Economics 7. Mumbai 8.Karl Marx 9.Falguni Nayar Email your answers to businessgoa.media@gmail.com First all correct entry will get 1 year’s subscription to Business Goa

PRIME LOCATION Located on the outskirts of Panaji on the St. Inez Taleigao Road.

SPACIOUS SEATING 300-seater Fine – Dining Restaurant setup.

Spread across 10,000 sq. ft. of spacious Ground & First Floors.

CORPORATE GET TOGETHERS Ideal Location for Corporate Lunch / Dinner.

CELEBRATIONS Perfect place for all kinds of Celebrations – Birthdays, Anniversaries, Reunions.

GROUPS & FAMILIES Soothing atmosphere for families & groups.

5 STAR AMENITIES Restaurant is equipped with 5-star Amenities, which

COPPERLEAF PANAJI St. Inez - Taleigao Road, Panaji, Goa For Reservations / Enquiries: +91 91751 84623 / 24 / 31 For Takeaway / Delivery: +91 91750 18461 / 62

COPPERLEAF PORVORIM Chogm Road, Alto - Porvorim, Goa For Reservations / Enquiries: +91 90750 18462 / 63 For Takeaway / Delivery: +91 75582 98641 / +91 90750 18460

include Splendid International Standard Washrooms.

DISABLED FRIENDLY Wheelchair Accessible Entrance, Wheelchair Accessible Washrooms, Grab Bars in Washrooms.

BABY CONVENIENCE Baby Diaper/Nappy Changing Station.

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POSTAL LICENSE No.: G-2/RNP/Monthly/Goa-19/2021-23