in Goa
The Senior Vice President - Goa for Indian Hotels Company (IHCL) outlines his journey from a simple village boy to heading the biggest chain
hospitality
AUGUST 2022 INDUSTRY DOSSIERGOA’S ONLY BUSINESS MAGAZINE VOL 8 ISSUE 8 PANAJI GOA RNI No.: GOAENG/2015/59955 POSTAL LICENSE No.: G-2/RNP/Monthly/Goa-19/2021-23www.businessgoa.in NEWS VIEWS ARTICLES INTERVIEWS PROFILES FOCUS ANALYSIS OPINIONS EVENTS FEATURES Heart in Hospitality CURTAIN RAISER ZANTYE’SANVEKARMILIND GOAN CASHEW KATLI INVEST SUMMITGOA‘22 INTERVIEW WITH PRESIDENT, GOA TECHNOLOGY ASSOCIATION GOAN BRAND IRONOFBENEFICIATIONLOWGRADEORE FOCUS GOA / MINING POLICY
VINCENT RAMOS
this event was recently released
Three
Nayantara Ray wants to change the way parents look at day care centers with her venture, Kaleidoscope of Life Goan Brand Zantye’s presents their latest offering, the Goan Cashew Katli, just in time for the festivities the Union Ministry of Mines suggests a policy for the upgradation of low grade iron ore into a higher one, mining companies express their doubts on the same Goa invites promising startups to be a part of Khoj
Goa, FICCI, and Invest India, are
miscarriage CA
knowledge paper and logo
Centre, Panaji.
evinced
to roll out 75 new industry initiatives 08 AUGUST 2022 08
Dr Emanuel Gracias elaborates on the common phenomenon of Santosh Kenkre highlights the journey of pioneering real estate company, of Commerce Industry (GCCI), in collaboration with the Government of organising October 2022 at Taleigao Community The of at the hands of Chief Minister Dr Pramod Sawant, who has his desire
Kamat Constructions 5650 Beyond Classroom Dr Pradeep Salgaonkar outlines the history of retailing in India, right up from small shops to online stores 48 Cabbages And Queen Invest Right Nandini Vaidyanathan lists out the important points on what a review of an accommodation should include Mahesh Pai elaborates on the advantages of longterm investing 52 54 Healthcare As ASG Eye Hospitals completes one year in Goa, an overview of their achievements and future plans 342622 30 34 28 Curtain Raiser Goa Chamber
Vincent Ramos, Senior Vice President - Goa for Indian Hotels Company (IHCL) outlines his journey from a simple village boy to heading the biggest hospitality chain in Goa youngsters (Dr. Mansi Santosh Kumbharjuvekar, Palash Agni and Simonie Rego) let their creative juices flow and showcase their talent through different mediums
‘22 32 06 Editorial 08 Curtain Raiser 10 Corpo Scan 36 Campus 37 BookShelf 38 Biz Networks 46 Biz Bytes 58 Newsmakers 58 BG Quiz Women And HealthWise Words
Milind Anvekar, President, Goa Technology Association outlines his plan for the year and GTA’s plan to make Goa an IT hub
14 04 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022 Technology FiiRE
3028 CONTENTS COLUMNS 24 26 22 As
Cover Story Focus Goa: Mining Policy Starting LadyInterviewYoungPower
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&
the ‘Invest Goa Summit 2022’ on Friday, 7th
now penal provisions brought in for compulsory beneficiation of low-grade iron ore – in the garb of boosting internal consumption – has left the industry seething. Albeit, silently.
AUGUST 2022 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. Publisher & Editor Harshvardhan Bhatkuly Group Director Urvija ContributorsGraphicAnnaliseBusinessBhatkulyHeadGouveiaChiefReporterSybilRodriguesDesignerRakshamaNaikCirculationMayurSantineskarinthisIssueDrEmanuelGraciasMaheshPaiNandiniVaidyanathanDrPradeepSalgaonkarCASantoshKenkre Editorial, Advertising & Administrative Office Business Goa 409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 09834340633 Email: businessgoa.media@gmail.com EDITORIAL
Naysayers have been frightening people with talk of another recession. While the progovernment spin doctors would like you to believe that all is well, as we gallop to a trilliondollarLeteconomy.ussum up to say that the faith of the small business owner is shaken – about policy, governance and delivery. There is cynicism about every promise, although there are a small set of beneficiaries of these lofty promises.
The government seems to be making the right noises in the domain of enterprise and industry.
Goa, being a small state – the power to negotiate with the centre is almost nonexistent. The hospitality industry pays 18% GST, which is quite high as compared to its global competitors. Of course, we mustn’t forget that the 18% is a bonus from the 28% GST which was levied earlier. But does the tax bracket make it competitive to play on a global canvas?
Key industries in the state, especially mining – along with a huge workforce and affected ancillary enterprises like ship building, barge owners, machine operators, truck and logistics operators – are all looking at an uncertain future.
The tax burden, however, is only on those who pay the taxes or those who sign up in the system. Let us not ignore that a huge part of our economy is out of the tax net – and still operate on the ‘kuccha bill’ concept. Some sectors like retail, restaurants, electrical goods, sanitary ware, services have only a scrupulous few who sign up for GST. The tax net is yet to be cast far and wide. And till such time, only those who have signed up, get the wrong end of the stick.
Industrialists, in their hushed conversations, also have been lamenting on the way things have come to a pass. There are more regulatory roadblocks to tackle today and more compliances to keep a check of than ever before; while on the other hand, the bureaucracy has been talking about nothing but ease of doing business!
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 Shree Mahalakshmi Damodar Prasanna
Isn’t it time that the government walks the talk and live up to its promises? Isn't it time that businesses actually feel a positive difference to their enterprises? I understand that taking a cynical view isn’t of much help. But this time around, the state must take the first step. I have no doubt that industry will follow in its support
‘Atmanirbhar Bharat’ and its state cousin ‘Swayampurna Goa’ have lofty ideals to boost the untested side of Goa’s enterprise. Every now and then, we hear of stories of a certain weaving community or some organic farmer, that has seen brighter days due to government support.
PRESENTED BY 06 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
The rise of 50% export duty on iron ore; and ‘Ease of Business’ in the true sense, needed
Harshvardhan Bhatkuly
Some departments keep doing what it does best – pour old wine in a new bottle, by signing up consultants, experts and re-constituting their Boards with favourites. Some even engage consultants to prepared blue prints and plan years ahead, when the present state of the their industry begs for immediate attention!
Although I would be the first to stand up and applaud if the government does what it aspires to do, the realist in me would like to see more action on the ground. The industry has reasons to feel a bit wary with slogans and promises, after having been let down by successive governments, especially on the business front.
The Goa State Pollution Control Board and some other departments are doing away with certain archaic administrative provisions, to stay in sync with ‘ease of doing business’ in the modern business world.
‘INVEST GOA’ WILL FOCUS ON EMPLOYMENT THROUGH RALPH DE SOUSA
The ‘Invest Goa Summit’ will be held on the 7th October 2022.The event will focus on local employment through investments in select sectors.
Goa Chamber of Commerce & Industry (GCCI), in collaboration with the Government of Goa, FICCI, and Invest India, are organising the ‘Invest Goa Summit 2022’ on Friday, 7th October 2022 at Taleigao Community Centre, Panjim, Goa. A precursor event was organised recently at GCCI convention hall to release the Invest Goa 2022 Summit logo and knowledge paper ‘GOAThe destination for cutting edge investments’, at the hands of Chief Minister Dr. Pramod Sawant.Also present were Ralph de Sousa, President, GCCI; Shrinivas Dempo, Sr. Vice President; GCCI; Manguirish Pai Raiker, Past President; Manoj Caculo, Immediate PastPresident; Yatin Kakodkar, Hon. Secretary; and Chandrakant Gawas, Hon Treasurer.
The Chief Minister, on Invest Goa Summit 2022 to focus on 75 new industry initiatives the occasion, announced the main goal of his government is to focus on Prime Minister’s vision of ‘Aatmanirbhar Bharat’ and his own mission of Swayampurna Goa 2.0. With this vision, the CM’s team has taken the initiative to invite potential investors from across the globe and country to invest in Goa. He mentioned that the summit is being organised to kick-start fresh investments in certain key focus sectors belonging to the green industry which are not energy intensive such as IT/ITES/Electronics, Logistics, Start-ups and R&D Centres, Agro and Food Processing, Tourism and Allied Sectors, Education and Entertainment.Investments in these sectors will achieve skill development for gainful employment, enhance employment opportunities and promote entrepreneurship, the CM said. On the occasion of ‘Azadi Ka Amrit Mahotsav’ he urged the industrial fraternity to set up 75 new units in the coming year and generate jobs and revenue for the state. GCCI President Ralph De Sousa said that Goa Government’s keen objective to bridge the gap between academia and industry, and incorporate the latest technology such as artificial intelligence, coding and robotics in the educational curriculum will boost the growth of the industrial sector. He mentioned that GCCI, with the same objective, developed the knowledge paper in association with knowledge partners such as Goa Institute of Management (GIM) and BITS PILANI - Goa campus. The GCCI President thanked the Government for implementing ‘Ease of Doing Business’ for Town & Country Planning, Tourism & Goa State Pollution Control Board Manguirish(GSPCB).PaiRaiker who has conceptualised INVEST GOA 22, said that Goa has the infrastructure, potential and opportunities to attract investments. Already many genuine investors have shown interest in coming to Goa. Invest Goa 22 will establish a direct connect with key stakeholders & reduce procedural delays that hamper sectoral growth.
‘Invest Goa’ is supported by the Government of Goa and FICCI, without which, we would find it difficult to go forward. I take this opportunity to thank the government for introducing the Ease of Doing Business (EoDB) in its true sense. The new Industrial Policy has removed many a hurdle to ease the life of industrialists.
The new Tourism Policy on licensing and renewals of licenses is a game changer, reducing the number of required licenses from 14 to just 3. Today, the efforts of the government at Goa Pollution Control Board in the field of EoDB is evident where 13 mandatory NOCs are done away with, in favour of selfattested declarations. We sincerely thank the Government, the respective Secretaries, Chairmen and Directors of each of these departments for easing the burden on the investors in its trueGCCIsense. offers its special thanks to Dr. Sebastian Morris, Senior Professor at Goa Institute of Management (GIM) Goa, who was assisted by his Research Officer Bernice De Sousa and supported by Dr. Sunil Bhand, Senior Professor BITS Pilani Goa, for putting the knowledge paper document together.Theknowledge paper, which is also a background note to the event, was put together by our prestigious institutions, GIM and BITS Pilani Goa, supported by IIT Goa, Goa University, NIT and Goa Engineering College”
LOCAL
08 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022 CURTAIN RAISER www. business goa.in
L to R: Sanjay Amonkar, Chandrakant Gawas, Yatin Kakodkar, Shrinivas Dempo, Dr Pramod Sawant, Ralph de Sousa, Manguirish Pai Raiker, Manoj Caculo and Goutam Raj
INVESTMENTS IN SELECT SECTORS:
Goutam Raj, Managing Committee Member proposed the vote of thanks. Various local banks, private institutions are on board to support this initiative.Sadanand Shet Tanavade, Chairman EDC; Principal Secretary Dr Candevelou; Dr. Ajit Parulekar, Director GIM; Dr Suman Kundu Director BITS Pilani; and Mahesh Patil, Chairman GSPCB were also present on this occasion
RALPH DE SOUSA President, GCCI
Four empowered panels formed to help execute 25 year vision plan for tourism CORPO SCAN @businessgoa 10 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
In order to give a boost to the business climate in the State, the Goa State Pollution Control Board (GSPCB) has done away with the need to obtain 13 noobjection certificates (NOCs) from local bodies for industrial units and
CM urges co-operatives to venture into organic farming
Nilesh Cabral No inspections of green industrial establishments within industrial estates
The Chief Minister stated that in some parts of the state, people were still undertaking organic farming and cited the example of ‘boiled rice’ from Chorao being exported to the US.
“It is really a proud moment for us. Jackfruit from Goa is organic in nature and the Government has encouraged its research and process,” Dr. Sawant said. He appealed to co-operative institutions to venture into collective organic farming to provide good food for the people; which would help encourage co-operative farming and strengthen the co-operative movement in Goa Dr Pramod Sawant
The State Government invited bids for e-auctioning of 37 prime industrial undertaking plots in Verna on a long lease basis. The plots range from 1000 square metres to 45000 square metres. Of the 37 plots, 13 are part of the SEZ land parcel acquired by the GIDC and put up for the third round of the auction. The remaining 24 plots have been newly created in the industrial estate. The last date of submission of online bids is October 7 2022, with the GIDC reserving the right to reject any or all the bids received without assigning any reason.In November 2021, GIDC had floated the first round of bids for thirty one plots of erstwhile SEZ promoters, while the second round of bidding took place soon after. The GIDC is expecting `235 crore this year from the sale of SEZ plots from which it anticipates making a profit of `168 crore. Meanwhile, the corporation which had previously decided to increase the lease rent for units in the industrial estates has decided to defer the hike to a later date
ofconsentrenewalalsohotelsrequirementwithinindustrialinspectionsthewithinBoard’sofpaymentoftheBoardcategoriesoperate.totimethebusinessrelyNOCsestablishments.businessInsteadofthemandatorytheboardwillhenceforthonself-attestationbyowners.FurthermoreBoardbroughtdownthetakenforgrantingconsentestablishandconsenttoForgreenandorangeofindustries,thewillgiveitsdecisionontwoconsentswithin15daysreceivingtheapplicationandoffees.Inthecaseredcategoryofindustries,decisionwillbeready60days.GSPCBhaseliminatedsystemofconductingofgreenestablishmentsindustrialestates.Theofinspectionofofupto24roomshasbeenremoved,andautofacilityintroducedforapplicationsinthecaseunitsfallingunderorange and greenMinistercategories. for Science submitteddeliveryPatilsource,ofplacedThetochallengementionedArungovernmentneedaddingcertificatesacceptancethatCabralofimplementationenvironmentalwill“Alltimelinestargetimmediatewillofmeasuresstateddocumentation,drasticallyannouncingNileshEnvironmentandCabralwhilethereducedthattheon‘easedoingbusinesses’setinwitheffect.Hesaidtheistofurtherreducetheforgrantingconsent.employeesoftheGSPCBbeinvolvedinmonitoringlawsandofthe‘easedoingbusiness’measures,”said.TheMinisterobservedauto-renewalfacilityandofself-attestedaremajordecisions,thatsimilarmeasurestobetakenbyalldepartments.EnvironmentSecretary,KumarMishrathatthebiggestbeforetheGSPCBisstabilisethenewmeasures.Boardwouldbebettertoensurecomplianceslawsbytacklingpollutionathesaid.GSPCBchairmanMaheshpromisedtime-boundofconsentapplicationsbyindustrialunits
GIDC invites bids for e-auctioning of 37 plots in Verna
In a bid to attract quality tourists Goa, the Goa government has decided to identify the land banks available with the tourism department, for the development of various infrastructure projects either on a public-private partnership (PPP) model or as a joint venture initiative. Also, to boost Goa's popularity as an event destination, the government has decided to grant single window permissions to all major tourism events and to formulate a policy in this regard. For the implementation of these decisions, Tourism Director Nikhil Desai issued an order to form 'Empowered Committees' on land and infrastructure, new tourism services and marketing and public relations, which will function under the chairmanship of Tourism Minister Rohan Khaunte. The government has also roped in four subject matter experts as members of the Goa Tourism Board (GTB). Expert in heritage and culture Sanjeev Sardessai, an expert in eco-tourism and wildlife Parag Ajit Rangnekar, expert in travel operations and charters Ernest Dias and an expert in the management of cruise liners Mark Anthony Mendes have been recruited by the government for a period of twoUnderyears. Goa Tourism Board, the Empowered Committees (ECs) for proper functioning, delegation, policy-making and implementation of various tourism development programs or initiatives have beenTheconstituted.landand infrastructure EC will also identify new land for acquisition along with planning the development of existing properties and monitoring the same. It will also have to undertake studies on the carrying capacity and environmental impact of the proposed projects or activities. The EC on new tourism services will be dealing with granting single window clearances for new tourism projects and services. It will also ideate, review, conceptualise, plan and develop proposals for new tourism services under various aspects of tourism such as hinterland, culture, nature/ eco-beaches, etc and monitor theirTheimplementation.committee dealing with marketing and public relations will plan a calendar of events, marketing, promotion and media plans for tourism development.TheCommittees have to commence functioning with immediate effect and adequate office and secretarial support will be provided by the Tourism Department and GTDC
Pollution Control Board scraps 13 NOC requirements to boost ‘Ease of Business’
Chief Minister Dr Pramod Sawant said that organic farming is the need of the hour and there is a requirement to switch back to it so as to produce pure and healthy food. He said that the government will help farmers in all aspects to boost organic farming.
12 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
Mango CorporationDevelopmentinthe offing: Ravi Naik
The High Court has directed state authorities to look into statements by Goa River Sand Protectors Network of illegal sand mining taking place, and ascertain whether sand mining is indeed being carried out at the spots indicated by it. The network also submitted to the High Court a picture on the frontpage of a leading newspaper that showed large heaps of illegally mined sand ready for transportation on the banks of the Mandovi in Naroa, Bicholim.The network submitted to the court that although sand mining has stopped at many hotspots brought to the attention of authorities over the past months, it continues unabated at two places despite round the clock police patrolling, with some new areas cropping up where sand mining activities have been ramped up over the past few weeks. In Curtorim, the network has stated that the loading point is at Corjuem on the banks of ZuariAtRiver.Chandor, the sand extraction is being carried out in River Kushawati near the Cotta Railway Bridge. The network submitted that the illegal sand extraction activities occurring in River Chapora at Revora are in close proximity to the home of a local person, putting his property and family at great risk from the river bank collapsing. The network requested for round the clock patrolling at Bicholim (Ponda), Chorao, Talarna and Revora as patrolling has proven to be significantly effective in reducing illegal sand mining activities
tourists visited Goa in 2019 and comprised 29% of the total 9.4 lakh foreign tourist arrivals to the state. In 2020, around one lakh U.K. nationals visited Goa and made up for 35.7% of the total three lakh foreign footfall. Goa had a disastrous foreign tourism season for two consecutive years – 2020 and 2021 – on account of the pandemic and due to travel restrictions. Small and medium hotels in the South district have been badly hit by the sudden drop in the international charter flights. In the season starting from October to March-April, stakeholders are hoping for a revival in the foreign tourism business. However, global turmoil is a cause for concern, according to the industry Nilesh Shah IIT-B is a significant step which is aligned with Vedanta’s vision of achieving carbon neutral operations by 2050.
Sauvick Mazumdar, CEO, Iron & Steel sector, Vedanta said “At Vedanta, we are fully committed towards our ESG goal of achieving ‘carbon neutrality’ by 2050 or before, and this engagement with IIT-B is a massive step forward in ourProf.endeavour.”Milind D. Atrey, Dean R&D, IIT Bomba said “I really commend Vedanta, Iron & Steel business for this proactive step towards R&D for Green Steel making which will prove to be a key landmark in creating a greener future.”
He added that the TTAG demand for e-visas to the U.K. nationals is pending before the Centre since June; they have been constantly following it up since the last two months and business-goa are a hopeful of a positive reply by Chaturthi.TheTTAG president said the association is also seeking an extension of the five lakh free tourist visas scheme announced by the Ministry of External Affairs sometime in JuneThe2021.free tourist visas scheme ended on March 31 this year. However, with international travel to India yet to pick up, not even half of the promised number of visas has beenAboutissued.
Vedanta signs MoU with IIT Bombay for Green Steel Vedanta-Iron and Steel business has partnered with IIT, Bombay for an R&D project to develop cost-effective technology for producing green-steel using hydrogen thereby targeting significant carbon footprint reduction in iron and steel space. Vedanta-Iron and Steel and IIT- B will also collaborate on exchange of knowledge and technology for process innovation and excellence.
Agriculture Minister Ravi Naik said the Goa State Coconut Development Corporation will be formed in the next four months and the department is also planning to set up a separate Mango Development Corporation in Goa. The minister was speaking at ‘Flora Fest’ organized by Rotary Club Margao in association with BPS Club. Naik also assured to open a separate Regional Agriculture Office at Vasco for Mormugao Taluka by next month. The event coincided with the ongoing ‘Azadi Ka Amrit Mahotsav’. Naik further stated that the government was starting an agriculture college in Goa this year and the necessary land required for the college was acquired by the Government. Apart from this, the Agriculture Department is also planning to form a Mango Development Corporation in Goa
CORPO SCAN TTAG SEEKS E-VISAS FOR UK TOURISTS
Concerned over the foreign tourist arrivals for the upcoming tourism season, the Travel and Tourism Association of Goa (TTAG) is seeking e-visa service for travellers from the UnitedPresidentKingdom.ofTTAG, Nilesh Shah said about the tourism stakeholders in the state want the e-visa service to be extended to the U.K. “Unitednationals.Kingdom is an important market for Goa. E-visas for the country will boost the U.K. tourist footfall and the international charters to the state. It will also help foreign travel companies plan for holiday packages in advance,” said Shah.
Ravi Naik
2.7 lakh U.K. HC DIRECTS VERIFYGOVERNMENTGOATOREPORTS OF SAND MINING
Vedanta’s iron and steel business has implemented several high impact initiatives towards adoption of most sustainable business practices such as systematic reclamation of one of the largest opencast iron ore mines in Goa, 60 MW clean power generation through waste heat recovery power plants, state-of-the-art environment management practices and much more, over the decades
The first project kick-off meeting between Vedantairon and steel leadership team and IIT-B senior officials took place virtually and was chaired by Sujal Shah, CEO, Sesa Goa Iron Ore Business, Vedanta and Prof. Arindam Sarkar, IIT-B along with the project team. This engagement with
14 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
After a successful stint of spearheading IHCL in Goa as the Area Director since 2017, Ramos is currently appointed as Senior Vice President – Goa. In his current role, he continues to provide strategic direction to IHCL hotels within the region. A perfectionist with over a decade of management experience, Ramos has been instrumental in the expansion of IHCL in Goa, across its group of brands - Taj, SeleQtions, Vivanta, Ginger, amã Stays & Trails, Qmin, and TajSats. Under his governance, IHCL witnessed transformative growth in the region leading to greater profitability and market leadership in each of the relative market segments. Amidst the challenging business circumstances posed by the pandemic, Ramos demonstrated exceptional leadership in effectively positioning IHCL’s various brands in Goa and has not only effectively represented the brand but has also been the voice of the industry as a whole, within the length and breadth of Goa. The optimisation of costs and enhancement in revenue in Goa during his tenure is testimony to his drive towards excellence. Moreover, he has been actively involved with the local state authorities to achieve benchmark standards for tourism in Goa. Ramos is empaneled as member of the Empowered Committees for the Goa Tourism Board. He is also appointed as mentor for the Goa Chamber of Commerce & Industry (GCCI) Committee – Tourism vertical and is a part of the Managing Committee of the Travel & Tourism Association of Goa (TTAG); as well as an Executive Member of the Confederation of Indian Industry (CII) Goa. Childhood and Education Hailing from the beautiful island of Chorão in Goa, Ramos takes a walk down memory lane while speaking about his childhood. “It was a different world back then in the 70s with the hippie culture in Goa.
By SYBIL RODRIGUES Vincent Ramos, Senior Vice President - Goa for Indian Hotels Company (IHCL) outlines his journey from a simple village boy to heading the biggest hospitality chain in Goa
Vincent Ramos is a firm believer in hard work and says that it never fails nor does it go out of fashion. His mantra for success is “Be straight, be honest and most important of all, work hard.”
Heart in Hospitality
COVER STORY
“When I was small I would love to make homemade ice creams and experiment with making falooda. It would give me great pleasure to get it done the right way and then earn praise from my family and friends. Ironically, I was studying science. However, soon I rerouted my efforts towards a path already paved by destiny. Being a Goan at heart, I had the natural flair to set foot into the hospitality sector; it was undoubtedly a seamless blend.”
Entering the Hospitality Space Having completed his schooling from Monte de Guirim School, he later graduated from the Institute of Hotel Management, Goa. He attained his Master’s in Business Administration from S. P. Jain Institute of Management and Research, Mumbai and
AUGUST 2022 | BUSINESS GOA INDUSTRY DOSSIER | 15
The Journey to becoming a Hospitality Pioneer The journey to becoming Senior Vice President IHCLGoa has been a long and rewarding one. Having started off as a management trainee with the Leela Group, Ramos began his career as Banquet Manager at The Leela, Goa. From there, he joined the IHCL family as part of the preopening team of Taj Exotica Resort & Spa, Goa where he launched many signature restaurants including Miguel Arcanjo, Alegria, Li Bai and Lobster Village. Later, he was promoted to Accommodation Manager which was completely different from his scope of work in the Food and Beverage Department. Having become the Resident Manager at Taj Exotica, he was then appointed as General Manager at Taj Kumarakom Resort & Spa in Kerala. After successfully repositioning Taj Kumarakom as a profitable venture, he was assigned as General Manager of Taj Malabar Resort & Spa, Cochin. His next posting was at Rajasthan as General Manger to the famed Umaid Bhavan Palace, Jodhpur which is one of the finest palaces India can boast of. Eventually, Ramos came back to Goa, his birthplace as the Area Director – IHCL, Goa and General Manager of Taj Exotica, Goa. In 2020, Ramos was assigned the iconic Taj Resort & Convention Centre, Goa in addition to being Area Director. He has been awarded the ‘Unsung Hero of the Hospitality Industry’ in 2017 and ‘Most Admired General Manager of the Decade’ in 2018. Recently in May 2022, he was elevated to Senior Vice President – Goa. Ramos attributes this phenomenal journey to IHCL’s pioneering leadership which is backed by a rich 118 years’ legacy. “It is indeed a privilege to be part of a team that personifies the hallmark of Indian hospitality. Given the dynamic nature of this industry, each new day in my professional life has brought with it a new learning. Having worked in the industry for decades, I have had the honour of leading iconic hotels from the IHCL portfolio across the country. Being of Goan origin and having begun my career in Goa, it came back a full circle when I was appointed as the Senior Vice President - Goa. In my new role, I am humbled to be in service of the state and look forward to IHCL’s growth in the region” he adds proudly. Known to turnaround loss-making hotels, Ramos has had the opportunity to lead legendary hotels from IHCL, during which he has brought numerous accolades to India. Reminiscing his tenure at each of the hotels, he shares “Working at Umaid Bhavan was a novel experience. The Rajput culture is very different; it had an air of nobility around it. The coveted Umaid Bhawan Palace is a magnificent piece of Rajasthan’s heritage, and a symbol of new Jodhpur. Built
ingrainedthatsoil,Singapore.UniversityandCornellIIMcertificationsacademicachievedfurthermoreprestigiousfromAhmedabad,UniversityNanyangAsasonoftheRamossayshospitalityisinusas Goans and as a child he would love to be a part of hosting a party be it for family or guests.
Ramos on duty at the beginning of his career at Taj Exotica Resort & Spa, Goa
I had a memorable childhood and I remember a time where I would come to Panjim by something called a ‘gazoline’. You don't see those anymore. These ‘gazolines’ would go from Divar to Chorão to St. Estevam. It would come every day at 8 am in the morning, go across the Mandovi and arrive in Panjim at a place called Caravela, where all the casinos are currently docked. We would get down there, do the shopping and go back by the same ‘gazoline’ at 1 pm. The last trip from Panjim was at 6 in the evening. We had plenty of paddy fields which would be cultivated each season. My parents would often go fishing since we lived on an island. There was a school in the village called St. Bartholomew which I attended from kindergarten till the 2nd grade. Later, I was sent to the boarding school at Monte de Guirim. I had an interesting boarding life with the priests; although it was very strict, it was also fun and enjoyable. We could visit home only during the holidays –Chaturthi, Diwali, Christmas and the summer vacations. I completed my 10th there, took up science in Dhempe College and then went on to do a degree in Hotel Management,” says Ramos.
Vincent Ramos (extreme left) with Puneet Chhatwal, Managing Director & Chief Executive Officer (third from left) and the senior management of IHCL at the launch of amã Stays & Trails in Goa, India’s first branded homestay portfolio from IHCL
“IHCL is built on a legacy. ‘Tajness’ is not about”whatandtradition,feelinghundredexistedsomethinginthatphysical,somethingbutonemanifestsitselfafeelingandisthathasforoverayears.Asteepedinetiquetteexpertiseis‘Tajness’isall
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COVER STORY
@businessgoamagazine
Taj Resort & Convention Centre, Goa The most recent feather in the cap for IHCL is Taj Resort & Convention Centre in Dona Paula. Ramos is quite proud of this project and the passion in his eyes is quite evident when he speaks about it. “Taj Resort & Convention Centre is a gift by the Fomento Group to the state of Goa. I can confidently say that there is no other hotel like it in the state. Goa required a Convention Centre facility; it is now fulfilled with the introduction of Taj Resort & Convention Centre. The state is now equipped to host conventions at this splendid property. Located on a hillock overlooking splendid views of the sea, offering signature hospitality encompassed in an architectural marvel, Taj Resort & Convention Centre is an experience like no other. This resort has increased the possibilities for potential business in Goa, we can cater to every category of guest, be it leisure, weddings or conferences all at one place. I can describe it as one of the finest convention resorts in Asia, as it has the best vistas. If one were to go to the terrace or in any of the room balconies, the panoramic views of the magnificent Arabian Sea, Zuari River, Mormugao Harbour and Vainguinim Beach paint a resplendent backdrop.”
Vincent Ramos celebrating with the first batch of hospitality professionals at Don Bosco VTI, Quepem Ramos with the royal family of Umaid Bhawan Palace, Jodhpur
Giving Back to Society A true leader, Ramos loves helping the less fortunate and has constantly strived for local communities to share in the benefits of IHCL’s presence with maximized local employment and generating new avenues for business opportunities with a collaborative approach towards helping improve the quality of life and giving back to the state. Speaking on the various CSR initiatives conducted by IHCL, he adds “At IHCL, inclusion and business responsibility is embedded in our DNA. We give back to society by enabling livelihoods for less privileged target groups through skilling and leveraging our business value chain to support traditional art, heritage and social purpose organisations. Additionally, our hotels support the neighbouring communities in Goa by maintaining and promoting public spaces, tourism spots and heritage sites. We also collaborate with public welfare groups to amplify our reach in service of the local community. Amidst the pandemic, various initiatives were carried out by the hotels across the state in aid of those who were deeply affected in these unprecedented times and in support of different healthcare workers. Moreover, IHCL has always represented responsible tourism with sustainable business practices. Guided by the framework of ‘Paathya’, we have undertaken a number of initiatives including phasing out single-use plastic, reduction in carbon footprint, water conservation, utilisation of renewable sources of energy and extensive community engagement. ”
Promoting Goa as a premier wedding destination Ramos has witnessed the tourism sector evolve in Goa. When asked to share his thoughts about Goa as a popular wedding destination, he raves about all that the state has to offer “Goa has always been synonymous with paradisiacal beaches, splendid architecture, delectable local cuisine and warm welcoming people. From an intimate affair to grand celebrations, the State has catered to a wide segment in weddings. With a variety of options to choose from paired with remarkable hospitality service, Goa has already created a niche for itself among the top wedding destinations in the country. At IHCL Goa, we believe in going beyond to create memorable experiences that are truly momentous and etched in history. Unparalleled venues and exceptional service ethics are key to crafting the most memorable weddings,” he says. Living up to ‘Tajness’ IHCL is one of the largest and most renowned names in the world of hospitality. Guided by its values of Trust, Awareness and Joy, IHCL has perfected its craft, earned a reputation and built a culture loved by its patrons called ‘Tajness’. Ramos elaborates on the term and says that one can’t describe it; it is a culture that is ingrained in every associate at IHCL no matter their designation. “Tajness is the DNA that every Taj employee carries with them. They are the ones who put guests before anything else. True luxury lies in the details. It is built with time and care and
between 1928 and 1943, it is the home of the erstwhile Jodhpur royal family and currently the world’s sixth-largest private residence. During my stint as General Manager, it was a proud moment when the legendary palace was awarded with ‘Best Hotel of the World Award’ by TripAdvisor in 2016. It was a milestone achievement not only for the hotel but also for the country on a globally recognised platform. My experience in Kerala was again different from the one in Rajasthan. Taj Kumarakom is located in Kumarakom, a little village with a close-knit community. It is laid back and relaxing, people mostly use boats and canoes as the main source of transportation. Children would also travel to schools using boats. It was like being in Venice, only this place was paradisiacal with nature surrounding on all sides. Taj Malabar in Cochin at the tip of Wellington Island came with its own unique experiences. The hotel witnessed magnificent ships, the likes of Queen Mary passing by frequently and naval drills in practice. Every time, it was a new canvas painted outside the window. It was lovely to be there. Taj Malabar is the most renowned hotel of IHCL in Kerala. I am very emotionally attached to this property. It used to be a sailor’s hostel during the British era. I was fortunate to work with people from diverse cultures. Each hotel had a unique story reflecting the cultural influence of its people defined by the historic legacy of the past,” Ramos describes his various stints as a hospitality honcho.
“I think that our prime responsibility is to employmentcreate for the people. India is a young and budding country and we need to have our younger generation growing and working hard”
18 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022 COVER STORY www. business goa.in “I
an unparalleled vision. With years spent perfecting a craft, with decades spent acquiring a reputation and with centuries spent building a culture, we aim to please our guests and remain in the service of humanity. Luxury becomes real when it has a legacy. IHCL is built on a legacy. Tajness is not something physical, but one that manifests itself in a feeling and is something that has existed for over a hundred years. A feeling enriched through care, warmth, and a strong sense of nobility. A feeling steeped in tradition, etiquette and expertise is what Tajness is all about.” Having attributed his success to IHCL, Ramos says that it’s an integral part of him and takes pride in speaking about the company’s journey in Goa. “Taj Fort Aguada Resort & Spa, Goa was the first luxury beach resort in the country to open its doors in 1974, welcoming the world to India’s sunshine state. It was also the host hotel for the Commonwealth Heads of Government Meeting (CHOGM) in 1983. Thus, IHCL became pioneers in making Goa one of the most popular tourist destinations. Currently, IHCL in Goa comprises of a group of brands and businesses that offer a fusion of warm Indian hospitality and worldclass service. These include Taj – the iconic brand for the most discerning travellers, ‘World’s Strongest Hotel Brand’ and ‘India’s Strongest Hospitality Brand’ as per Brand Finance 2022; SeleQtions – a named collection of hotels; Vivanta - sophisticated upscale hotels; Ginger – which is revolutionizing the lean luxe segment; amã Stays & Trails – the first branded product in the home stay market in India; Qmin – the gourmet culinary and food delivery platform from IHCL; and TajSTATS –India’s leading airline caterer and a leading institutional player. The brand is growing rapidly. It is a huge portfolio, we have over 1500 rooms across Goa, this itself speaks volumes about us. With a footprint of 21 unique destinations in the state, IHCL continues to define the changing landscape of tourism in Goa as the largest hospitality operator and leader in the tourism sector,” says Ramos with a hint of pride. Challenges faced in the shadow of Covid The year 2020 changed people’s perception, it is considered as a year that altered lives and businesses. As a state that is dependent on tourism, it has reshaped the travel and hospitality landscape drastically. Though holidaying was far away from the minds of the people, many wanted a welcome break once state borders began opening up. IHCL rose to the challenge and went out of their way to keep their guests safe while ensuring that they had a relaxing holiday. Ramos outlines the various operational changes that IHCL saw in the face of the pandemic.
Vincent Ramos receiving the honorary certificate for Taj Fort Aguada Resort & Spa, Goa (India’s first luxury beach resort) at the hands of Shripad Naik, Union Minister of State for Tourism on Goa Statehood Day 2022
Ramos being felicitated by the management of Taj Resorts, North Goa
From the point of view of a local in the state, Ramos shares his inputs for successfully running hospitality ventures in a post-Covid market.
“The hospitality industry is constantly evolving and dynamic in nature. Post-Covid customer expectations have changed with the new normal, realigning the services keeping in mind the changing demands of today’s traveller is key. Resisting change can result in an irreparable loss.” Further, he also says that cleanliness plays an important role as far as attracting tourists is concerned. “As a state we have to focus on cleanliness was fortunate to work with people from hotelcultures.diverseEachhadaunique story reflecting the cultural influence of its people defined by the historic legacy of the past”
“The pandemic posed an unprecedented challenge and created a new, altered reality. Safety and hygiene became the prime deciding factors in travel. At IHCL, we detailed a comprehensive fivepoint mitigation strategy –R.E.S.E.T 2020 – that catered to the rapidly changing market conditions, government policies and dynamic customer needs. Keeping the well-being of IHCL's guests and associates at heart, enhanced and exacting safety protocols were developed in accordance with the norms laid down by World Health Organization (WHO), Food Safety and Standards Authority of India (FSSAI) and the Government of India. New SOPs and their stringent implementation among our own staff played a vital role in our ability to carry this across to our guests. I-ZEST: IHCL’s Zero Touch Service Transformation – a suite of digital solutions was introduced across our hotels to ensure social distancing for both, guests and associates, while maintaining secure and seamless services.”
As a representative of the tourism industry and being a hotelier himself, Ramos feels that one should have the foresight to look ahead and feel the pulse as far as performance is concerned. Regarding the upcoming two quarters and the tourist season, he says that things are looking bright. “The next two quarters are looking very bright and I think we should see some exponential growth in the numbers. We have already had a great quarter one in the history of IHCL and the forthcoming quarters look promising. We are optimistic of the upcoming season. With opening of international travel, we are looking forward to a healthy and fruitful season ahead. Post pandemic recovery has been phenomenal especially in the case of Goa, more so because Goa was comparatively the least impacted state during the peak of the pandemic. The domestic/local market demand is here to stay and the next season remains favourable.”
Personal Life With handling IHCL in Goa and being a part of various organisations, Ramos has his hands full and very little time for pursuing his hobbies and interests. “I have very little free time but I love gardening, I enjoy being amidst nature. Recently, I spent my weekend at Netravali. I love driving through the serpentine lanes of Goa and exploring offbeat places. Unfortunately, the only reading that I do is on my mobile phone these days. I'm bombarded by all kinds of articles and news bytes on my handset. If I have to pick out a favourite hobby, it would be gardening,” he says with a sparkle in his eyes. Ramos speaks fondly of his wife and son. “My wife, Deena works at LIC. She has a comfortable 9 to 6 job which is unlike mine, but I guess that is what balances us both out. My son Ruben has completed his Master’s in International Hospitality from the Business and Hotel Management School of Switzerland. He is now an entrepreneur involved in the manufacturing of a port wine named ‘Vinho Fontainhas’, he plans to come up with his own Feni someday. We live in Miramar and my parents’ live in our ancestral house in Chorão.”
As a committee member on the boards of various government organisations, he has to liaison with various government officials and dignitaries. In order to boost tourism in Goa he is always at the helm of matters as far as decision making is concerned in the tourism sector. “We are the backbone of the tourism sector and we advise the government bodies on how to go forward. I think the best thing that happened during Covid was when we excelled in the travel and tourism sector despite the circumstances at the time. I am proud to say that we kept the finance department out of the ICU as we generated revenue for the state and kept Goa’s coffersIHCLfull.”has a tie up with all the Institutes of Hotel Management in India and various government colleges in the country. “We take training and skill the students at our hotels. We also have something called as outdoor catering where we give students the opportunity to acquire the skills required to work in the hospitality sector. My worry as of now is that the private colleges that are mushrooming all over the state need to make sure that they produce quality students, which is not happening. When it comes to government colleges, all of them are doing impressively well,” he adds with a note of concern in his voice.
With the pandemic confining everyone to their homes, travel has never been so sought after and been more exhilarating than it is right now. Goa has always been a popular travel destination and continues to thrive despite the pandemic. Lately, the state has seen an augmented surge in weddings, MICE and domestic leisure. It comes as no surprise, given that we are a matured leisure destination with high quality hospitality offerings that match international travel standards. Commenting on Goa’s position as a popular tourist destination, Ramos adds, “Unlike other states in the country, tourism is the backbone of Goa’s economy, with 40% of the population directly or indirectly dependent on it. Hence, we are constantly focussed towards adapting the tourism landscape to meet the changing demands and expectations of today’s traveller. Additionally, Goa has a welldeveloped infrastructure with an international airport that is in line with its importance as a recognised leisure destination. We did very well during the pandemic. Everyone felt comfortable coming to Goa and perceived it as a safe destination. People have repeatedly come back to Goa, thanks to the clean air, nature, the services, the hospitable people and choice of hotels available. People from all over India came here and contributed to our state.”
Bridge IndustryGovernmentbetweenand Ramos juggles myriad roles in his capacity as a hotelier.
“On personalthe front, I plan to take up farming after I retire. I would like to follow in the footsteps of my orderfamilyandancestorsusethelandintoleave a legacy behind” Vincent Ramos along with his wife Deena and son Ruben
@businessgoa COVER STORY
Taking IHCL forward in Goa As a company, IHCL is leading the hospitality sector in Goa. With big plans ahead, Ramos says that the hospitality major intends on expanding exponentially and are going to be very aggressive in their expansion plans in order to create employment and generate revenue for the state. “I think that our prime responsibility is to create employment for the people. India is a young and budding country and we need to have our younger generation growing and working hard. We recently announced ‘Ahvaan 2025’ – a three-pronged strategy to grow profitably in the coming years. This will further accelerate profitable growth by scaling its diversified brand portfolio across its traditional and new businesses. amã Stays & Trails, a group of heritage bungalows, guesthouses and homestays will have new additions to its portfolio in Goa in the current financial year. We are also working towards expanding other brands in the region. Furthermore, with the food and beverage industry thriving, Goa will witness an addition of the globally acclaimed Italian cuisine restaurant Paper Moon, 7Rivers Brewpub, Qmin Shop, C2C to IHCL’s exquisite array of bars and restaurants.”
Future Plans While retirement is the furthest thing from his mind and having no other future plans, Ramos says his life is tied to IHCL, but someday plans to return to his roots. “IHCL is an integral part of my life. I want to make sure that IHCL is at the forefront of everything in Goa. On the personal front, I plan to take up farming after I retire. I would like to follow in the footsteps of my ancestors and use the family land in order to leave a legacy behind for my future generations. But that is a story for another day,” he concludes with a smile and twinkle in his eyes
20 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022 and hygiene. Everyone has to contribute. In addition to the property premises, hotels need to keep their surroundings clean. We, along with the tourists, have to be educated on keeping our environs pristine. We have everything else including infrastructure, natural landscapes, heritage and culture; all we need to do is maintain hygienic precincts. There are no issues as far as manpower is concerned. At IHCL, we took good care of our employees during the pandemic. Our employees are loyal to us, which has resulted in outstanding results as a team. We are also creating more opportunities of employment by getting more hotels in our portfolio.”
premiumanshallbeneficiationtheyonAssociationCII,IndianMinerallikesoughtCommentsrecommendations.havebeenfromindustrybodiestheFederationofIndianIndustries(FIMI),theSteelAssocation,FICCI,PelletManufacturersofIndiaandASSOCHAMLesseesaretobeassessedaquarterlybasisandiffallshort(of80percentclause),theypaytheStategovernmentamountofroyaltyand“asapplicabletoiron
By SYBIL
“A concession of 5 per cent in the rate of royalty on the quantity of low-grade ore beneficiated through the wet process and 10 per cent concession on the rate of royalty on the quantity of low-grade ore beneficiated through dry process may be given on 20 per cent of the annual production of iron ore of all grades,” it said. Will this policy force mining companies to reconsider auctions?
As the Union Ministry of Mines suggests a policy for the upgradation of low grade iron ore into a higher one, mining companies express their doubts on the same of Low Grade Iron Ore: Beneficial to 2022 ore lumps or fines of 62-65 per cent grade”. The penalty will be to the shortfall Reconciliationamount.willbe done at the end of the year, and if the lessee reaches their annual mandate then their previously paid penalties because of the quarterly shortfall “will be adjusted against dues for the last quarter of that year”. It added that the Centre may levy a fine in the form of a levy of an additional amount for attended beneficiation after two years of notification of the rule.
whom? FOCUS GOA / MINING POLICY business-goa 22 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST
RODRIGUES
Acommittee set up by the Union Ministry of Mines has recommended steps for beneficiation and upgradation of low-grade iron ore into higher grade ones. The recommendation states that at least 80 per cent of the low-grade ore (with iron content of less than 58 per cent) produced in a year be upgraded to higher grade ore (of 62 per cent iron content), failing which steep fines and mine lease termination have been suggested.Thecommittee’s finding show that 121 million tonnes of iron ore of different grade are “lying unused” at different mine pitheads, about 55 per cent of which are fines with less than 58 per cent FE content. Nearly 17 per cent of total iron ore produced in India is of low grade.In India, steel mills are known to use premium iron-ore grade of 62 per cent and above; while ores of lower grade, i.e. FE content 58 and below, are preferred for exports. The committee has recommended penalty for failure to adhere to the mandate However,too.post imposition of export duty, sale of lower grade iron ore has been badly hit. The committee submitted its report around May and in a letter written on August 12, the ministry sought industry comments on some of the committee
Beneficiation
The failingperhigherapercontentgradeperstatesrecommendationthatatleast80centofthelow-ore(withironoflessthan58cent)producedinyearbeupgradedtogradeore(of62centironcontent),whichsteep fines and mine lease termination have been suggested
The committee has also suggested transfer of low-grade ore to neighbouring mines to be beneficiated or to a plant outside lease. “The quantity being removed from the mine will count under the 80 per cent mandate” and will “avoid double imposition of royalty or loss of revenue to the State”. Lessees will be charged royalty, bid premium, on the grade and quantity of ore throughout. The beneficiation plant can be located either inside or outside the lease area.
As the State government is busy in finding ways and means to restart mining, the Centre’s move to make it mandatory for lease holders to beneficiate 80% of the ore produced in a year from low grade to high grade may force companies to rethink before they participate in any auctions. Beneficiation is any process that improves the economic value of the ore. Goa has mostly produced low-grade iron ore and most of it was exported to Japan and China. The Union government has requested players to submit their objections and suggestions if any, before 31st August 2022. Regarding the above proposal, Glen Kalavampara, Secretary, Goa Mineral Ore Exporter’s Association (GMOEA) said that their members will need to discuss and deliberate jointly with other experts from the industry outside the state on probabilities there, and to see how upgradation of grades is feasible without causing environmental concerns.
Recently, Chief Minister Dr. Pramod Sawant petitioned Prime Minister, Narendra Modi to reduce the export duty on low-grade iron ore. The Union government had increased export duty on iron ore below 58 grade from zero to 50%.
In case of non-auctioned mines, such shortfall will attract a penalty “equal to the four times royalty” to be paid on iron ore of grade 62-65 per cent FE. This will be paid, in addition to the actual royalty to be paid.Mine lease can be terminated for failure to beneficiate 80 per cent of low-grade material for two consecutive years and not paying the royalty applicable on 62-65 per cent for the differential amount. The lease will be terminated only after allowing the lessee a reasonable opportunity of being heard
“The need is for enhanced R&D in the mining industry in the long run where there is a practical potential,” she added. Salgaocar mentioned that CII at the national level is in communication with its members and shall be collating inputs from various sectors, before submitting its feedback to the government Salgaocar pointed out that Goa’s mining industry has been using beneficiation plants for several decades to render its low grade iron ore marketable Swati Salgaocar
“The intention behind the proposal of the Centre is value addition. Various factors like technology, commercial viability, energy costs involved, additional environmental safeguards and lastly feasibility must be carefully analyzed for value addition,” she stated.
Miner’s Dilemma With frequent changes in policy taking place in the mining industry, Goa’s iron ore mining companies are unhappy over the notice of the Mines Ministry that recommends mandatory upgrading of ore through the process of beneficiation. Much as the notice applies to all iron ore producing states, according to the Goan mining industry, it will impact the state the most owing to its situation of excavating only low grade ore of Fe grade ranging between 28% and 57%. A senior from the mining industry stated that he doubted whether the proposal will be good for the state. “Goa does not have steel manufacturing companies, so it is not clear how the proposal will benefit the local mining companies. Prima facie, it looks difficult for a leaseholder in the state to operate with such kind of preconditions,” he said. Goa’s mining companies have disclosed that even after the beneficiation, the ore produced in the state is not likely to be of 62% Fe grade as predicted by the Centre. Further, the compulsory upgrading will lead to low recovery and high percentage of wastage.GMOEA has said that the notice has come as a big surprise. “If the purpose is towards boosting research and development, then it is a step in the right direction, but how much it will work is a different issue,” said the exporters’ body. According to GMOEA, value addition at all levels needs to be encouraged but beneficiation will be a challenge for ore below 50% Fe grade. It added that Goa has been a pioneer in the beneficiation process. In a bid to keep iron ore within the country, the Mines Ministry constituted the committee to recommend specific steps to ensure utilisation of low and lean grade ore
www. business goa.in AUGUST 2022 | BUSINESS GOA INDUSTRY DOSSIER | 23
S
wati Salgaocar, Chairperson, Confederation of Indian Industry (CII) Goa stated that value addition for all low-grade iron ore mining companies to upgrade their ore to a higher Fe content grade must be incentivised.Salgaocar pointed out that Goa’s mining industry has been using beneficiation plants for several decades to render its low grades marketable.
INCENTIVISE UPGRADING OF LOW-GRADE IRON ORE: CII GOA
DR. MANSI SANTOSH KUMBHARJUVEKAR / FOUNDER AND EDITOR-IN-CHIEF, GOAN VICHAR
By SYBIL RODRIGUES 24 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST
PALASH
Mansi is also the founder, Editor In Chief at Goan Vichar, a young media channel which focuses on politics, entertainment, and social issues. Mansi states that a lot of people don't like to comment about such issues in public and hence this portal encourages youth to participate in various discussions which will make a positive impact on Goa. Mansi was awarded a honorary doctorate for her contributions in the field of sociology. Any influencer who can make content that can help or share a message is welcomed on Goan Vichar. Mansi wants to build a community starting from Goa and make such discussions easy to talk about. Mansi says, Goan Vichar is at the community building stage. In the future, she would like to see Goans participating and becoming content creators. She wants Goan Vichar to become a platform for everyone to put out their views and opinions 2022 editing, website designing, digital marketing, photography while boasting of being completely sound proof. His studio takes up several projects that include cinematography and editing as their base. Since they started with shooting small music videos, they have transformed their quality and services to provide live streaming, better music videos and albums, website and android app designing, various online series and programmes, event cinematography and so on. Palash shot his first film, Ganpatiche Mej which is available on You Tube and was done as a college project. Currently, most of the films that he has shot are documentaries, live streaming and music videos. Palash believes that one should face their problems head on and try to solve them to the best of their abilities. He works with different freelancers whenever there are large scale projects.Palash would like to expand his business and open up a studio in Panjim, Mapusa and Ponda. His dream is to provide Goan artistes with premises where they can go and record their videos without having to burden themselves by travelling out of the state AGNI
Bringing stories to life
Dr. Mansi Santosh Kumbharjuvekar, has her fingers in many pies. After completing her graduation in Business administration, she attended MIT School of Film and Television in Pune. During that time she was also doing her research work in Film Preservation and Documentation at National Palash Agni has done a filmmaking course from Vinsan Academy of Film Media and decided to set up his studio in Margao. He is now pursuing a Masters degree in Languages, apart from managing his studio. Since the 8th standard, Palash was interested in filmmaking and the various aspects that went into it. When going through his uncle’s laptop one day, he happened to come across a video editing software which piqued his interest. He went on to learn all about video editing from You Tube and created a lot of videos on a trial and error Palash’sbasis.studio mostly creates short films, ad films, interviews, and cinematic videos. The studio has a live streaming facility; they also conduct outdoor live streaming, Film Archive of India in Pune. Simultaneously, she also shot her first documentary on film, Salam a biography on the life of a legendary film projectionist, P.A Salam who dedicated his entire life to films. Later, she pursued her Master's in Anthropology. Mansi has covered plenty of stories as a journalist and as a documentary filmmaker on several social issues. She also worked with national media channels like NDTV, The Quint and The Better India. When she came back to Goa, she started her own company called Folk Living, a sustainable tourism company which focussed on the rural spaces of Goa. They would curate events and activities for tourists to understand the idea behind the folk life of Goa. Her main project right now is the Kunbi weave.
/ DIRECTOR, PALASH AGNI STUDIOS @businessgoamagazine
STARTING YOUNG Giving a voice to the youth
Havingrecently.completed her schooling from St Thomas High School and higher secondary from Carmel College, Nuvem, Simonie graduated with a degree in Fine Arts. Further she has done a course in www. business goa.in interior design, and would take commissions of canvas paintings and murals along with conducting art classes for students at home. When attending a stained glass workshop, Simonie met Late Valentino Gaspar, a ceramic and terracotta artist who ran Red Earth Pottery Studio in Verna. Simonie would often attend pottery workshops as it was something that caught her fancy and she wanted to learn more about it. She used to visit the Bicholim Industrial Estate with her friends to see the potters at work and was intrigued as to how they would shape the clay with their bare hands.Simonie did not know any potters in the South who were willing to teach her the skill and got in touch with Late Valentino who offered to teach her and thus a friendship was born. He thought her everything, right up from using the wheel to building the kiln. Simonie learnt the art of pottery from scratch. From digging the mud, cleaning it by passing it through a certain kind of mesh, getting it ready, curing it for some time and then working on the wheel – Simonie does it all. Simonie likes to work with details like intricate cut work and textures which are very labour intensive and time consuming. She gives attention to every piece that she makes and it is visible in the quality of work. It is a never ending learning process for her where she experiments and learns new things every day. Recently, she held her first solo exhibition at the Quadro Gallery which was a huge achievement for her. Nervous at first, she never expected it to become a huge success given that it happened on a short notice. She had to display plenty of pieces from her pottery collection and worked for two months straight without taking much of a break. Her entire family was very supportive of her work and she received an overwhelming response for her work at the Currently,exhibition.Simonie is in the process of setting up her own studio at her residence where she will be able to work freely without any time restrictions or other hindrances. She wants to be independent and do something for herself while leaving a rich legacy behind
AUGUST 2022 | BUSINESS GOA INDUSTRY DOSSIER | 25 Mud-art Goa Bookshelf The finest books and writings on Goa... all under one roof. At Goa’s biggest book store. Celebrate the joy of reading. on a REFERENCE BOOKS BESTSELLERSMASSIVECOLLECTION OF NATIONAL GEOGRAPHIC MAGAZINES AT THROW-AWAY PRICES 1st Floor, Ashirwaad Building, 18th June Rd, Panaji, Goa Tel: 0832-6647037 www.broadwaybooksgoa.com S a v o i r F a i r e
Simonie Rego from Arossim used the pandemic to create beautiful pots from clay and held her first solo exhibition, Centre Punch, at the Quadro Gallery
SIMONIE REGO / POTTERY ARTIST
“GOA HAS TO TAKE NOTE OF THE WORK DONE BY GTA MEMBERS IN THE IT ECOSYSTEM”
By SYBIL RODRIGUES 26 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
@businessgoa
What are your views on the IT ecosystem in the state? Lot of IT companies and a few startups are doing amazing work which is recognized globally. The IT industry in Goa is today building solutions for the world. Unfortunately, very few get the visibility and Goa Technology Association is the only representative body of technology companies in Goa. Founded in April 2017, GTA has gathered momentum of being in the business of creating serious operations for tech companies in Goa. Business Goa speaks to Milind Anvekar, President, who outlines his plan for the year and GTA’s plan to make Goa an IT hub
Milind Anvekar
Tell us about GTA and its mission? Goa Technology Association (GTA) is an association of all IT & ITES companies, IT Startups and academic institutions offering technology courses in Goa. GTA is an effort to build a strong, vibrant, and ‘happening’ IT ecosystem in Goa. For IT, Goa was unfortunately known for the non existing policies and an IT park that only had new location announced every five years. It had to change. It was important for everyone to understand the IT industry that already existed in the state and doing great globally; however, working in isolation. There was a need to come together. We founded the Goa Technology Association (GTA) in the year 2017 wanting to build an IT ecosystem in Goa by creating growth opportunities for members nationally and internationally, organizing events and programs in the interest of members, engaging with the education system to bridge the gaps and create job opportunities for students, co-ordinating with the State Government for a stronger industry by formulating policies in support of an innovation and export driven growth for Goa. Today, we are the only registered IT body representing the industry in Goa. This year, as we complete five years, we feel the solution driven approach has helped us accomplish most of our objectives.
INTERVIEW
recognition that they deserve in Goa. Covid years however have created new possibilities for Goa. The state has become the most preferred destination to work from, for IT professionals. Many Goans professionally, are back in Goa working for their companies remotely from their homes. Similarly, many from Goa who were unable to move out of Goa for a reason are today able to work for an international company staying with their family in Goa. In fact, today, there is a serious issue of non-availability of skilled personnel in Goa to meet the local needs. Besides, there is no good and easy space available for IT companies to expand and all the co-working spaces are fully occupied. There is a serious need for the Government to facilitate creation of good infrastructure – office space, reliable internet connectivity and better transport. IT industry has the potential to provide a boost to the Goan economy and create more job opportunities. It is high time the state Government works seriously for supporting the industry on a priority basis. What is the primary focus of GTA during your term as President? It is important to showcase the work that is being done by the members of the IT ecosystem in Goa. This is the only way that people, students and the Government will appreciate the local industry achievements. We will very shortly be launching an IT directory on our website which will be a one point stop for all technology availability in Goa and career opportunities available. This will also help local companies and Government departments to know about their potential technology partner in Goa. With partnerships with national bodies like NASSCOM Future Skills, we hope to skill and up skill our students and workforce. We continue to engage with the Government on policy implementation and simplifying the unnecessary process overheads for companies. For GTA, the focus is on enhancing the member experience and creating strong financials for the association by end of the term. What legacy programs do you plan to continue with, from your predecessors? From the beginning, I have been involved in building the objectives and roadmap for GTA. This clearly has helped in maintaining the required continuity. In fact, the past President is also part of the new managing committee. We had a clear four-year objective that we worked on and have built a new roadmap for the next 2 years that we are working on. What projects will you be undertaking during your term as President? GTA will work closely with the media to tell IT stories from Goa. We will have our annual Awards Night which is now a signature event for the Association. The GTA website is being reworked on as Goa’s IT Directory. For the members, following workshops are lined up for now – How to list your company (in partnership with BSE), Educating Startups and Investors, Leadership for CXOs, Technology (in association with NASSCOM) and being ‘industry ready’ (for students). Additionally, we will also be hosting the first International IT summit early next year. GTA also intends to work closely with other associations and organisations, which will help our members bag new business and export opportunities. By the end of my term, I would like to ensure that we can talk about the IT industry in Goa with updated and validated numbers with regards to employment, exports, etc. Who feature in your team at GTA and what strengths do they bring to the table?
What is the GTA’s plan to make Goa an IT hub? We have shared our 5-point roadmap for Goa to the Chief Minister and the IT Minister. We have asked for better Infrastructure –availability of office spaces, reliable internet connectivity and better transport; Ease of Doing Business – the current processes defined for the policy registration are painful and will not encourage most of the business-goa companies to register including worries about the data security; Policy continuity – the current policy benefits to be disbursed for eligible companies on time before considering announcement of new policy; Promote work from Goa –this will definitely have more people considering to come to Goa and finally promote Goa as an IT event destination – this will help us host international quality technology events and also have an increase in domestic and international tourists for the state while providing exposure to local companies and students. How are you building a connect with the industry to further the aims and objectives of GTA? Technology companies provide solutions for every industry. It is therefore important to collaborate with industry leaders and associations showcasing our solutions and services. Very shortly we are announcing a workshop on Industry 4.0 for businesses in Goa. This initiative will be rolled out in association with other industry bodies. We would be looking at another workshop on Travel Technology in partnership with the travel industry and association. How is GTA’s association and relation with the Government and other private bodies and how would you like to build bridges with them?
Academia should be able to achieve maximum placements for their students and the Government should have simplified the current painful processes for the industry.
insheerbusinesseachactivitiesgivingWeinspiration,theirworkingItandKamatGroup);MangirishImmediate(BestGoaDeals.com);KerkarPastPresident,Salelkar(UmangMembers:Chinmay(CopperCodes);RohirNaik(Coderix).hasbeenapleasurewiththemallforthoughtfulness,energy,andmotivation.hadadifficulttwoyearsandtimefortheassociationwasnevereasy;asonehadtofocusontheironpriority.ItisthedesiretomakeITbetterGoathatgetsusgoing.
Where do you see GTA in a year from now? GTA is the only IT association representing the industry in Goa. It is really motivating to see that we now have more and more companies wanting to be members of the Association. Few companies planning to start their operations in Goa have reached out to GTA for inputs and help where needed. There are national and international associations approaching us for partnership. We truly believe the industry will look forward to GTA for providing a regular networking platform and create business opportunities.
GTA has always taken a solution-oriented approach with the Government. Right from policy formation to any Government event, we have always extended our support. Very recently, I have personally studied and explained the loopholes in the websites being developed for providing the ease of doing business to the industries. I hope necessary actions would be taken in a timely manner. It is important that the Government has a clear vision for IT industry with timelines and communicates the same to us. With other states offering red carpet welcome to IT companies, I will not be surprised if we have some members deciding to expand their business outside of Goa. There is a serious need for data protection for the data that is submitted on Government portals and its access. For achieving Ease of Doing Business in the true sense, complete solutions need to be developed and not in bits and pieces. For realizing the dream of Swayampuna Goa, work needs to be given to eligible local companies.
L to R: Rohan Warty, Gajanan Kerkar, Mangirish Salelkar, Milind Anvekar and Sujeet Shetty with Dr Pramod Sawant
GTA has a seven member Managing committee. Besides me, there is Vice President, Sujeet Shetty (Team Inertia Technologies); Secretary, Rohan Warty (XervisWlobal); Treasurer, Gajanan
GTA has worked closely with other associations on various occasions, and we believe that collaboration is the key success
opportunitiescreateplatformnetworkingregularandbusiness
There approachingassociationsinternationalnationalareand us for partnership. We truly believe the industry will look forward to GTA for providing a
mantra AUGUST 2022 | BUSINESS GOA INDUSTRY DOSSIER | 27
GOAN BRAND Zantye’s presents their latest offering, the Goan Cashew Katli, just in time for the festivities Bouquet of Cashew Delights ZANTYE’S
BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
@businessgoamagazine
The cashew sector regained its former glory after Goa’s liberation – the market has been booming ever since. Goa’s cashew processing sector is currently led by Zantye’s with its distribution of highquality Goan cashews through a network of stores across the state. Zantye’s online store has also helped the brand build a strong presence all over India. The premium quality and taste of these cashew nuts have earned the trust of thousands of customers across the country as well as the world. Today, Zantye’s is a leading cashew processing company
The journey of the cashew nuts legacy in Goa started 450 years ago, when the cashew palm was brought to Goa by Portuguese missionaries to aid in the prevention of soil erosion in the region. The local people eventually took notice of this fruit’s amazing culinary qualities.Inthe early 1900s, the cashew plants along India’s western coast flourished quickly and attracted a variety of entrepreneurs seeking to reap their benefits. Among them was Ganesh Mahadeo Prabhu Zantye, who established a family company involved in roasting cashew nuts at home and selling them in the thriving markets of Mumbai and Karachi.In due course, other techniques were used to broaden the scope of the smallscale sector, including the removal of moisture using heat chambers and cashew peeling. Gradation was introduced at the same time as packaging techniques started to advance, improving the delivery of highquality consumable products. In the early 1900s, the fruit’s depletion occurred as a result of its enormous appeal in the market throughout time. A Goan freedom fighter who was living in exile in East Africa at 28 | the same time returned to back home with information about the availability of raw cashews in Mombasa (Kenya). The cashew processing businesses seized this chance. Together with his brother Sriram, Narayan Zantye bought unroasted cashews from the nations of East Africa. They established cashew processing factories in Bicholim and other regions of the territory intending to expand their business.Athriving cashew business from Maharashtra tried to export cashews to America in 1926. It was unsuccessful due to mediocre packaging methods. This sparked the interest of American businessmen in the ‘wonder nut’ that was blossoming in popularity along India’s western coast. The wonderfully distinct flavour of this nut was its main selling point. In India, Vita Pack Corporation representatives signed a contract with Narayan Zantye for a consistent supply of cashew kernels. In 1928, Zantye’s was given technical and financial support by the Vita Pack Corporation and the General Food Corporation to carry out the first successful shipment of cashew kernels to the United States. The cashew processing industry in Goa began expanding quickly and hit a number of landmarks during the years 1942-1943. They were exporting about 70,000 cases of cashew nuts each year, which helped in creating jobs for locals. Along the way, several difficulties were encountered as the sector began to expand. The cashew processing business suffered significant losses as the major world powers headed into World War II. The state’s introduction of mining attracted a sizable portion of workers, further compounding the issues faced by cashew processing business owners.
AUGUST 2022 | BUSINESS GOA INDUSTRY DOSSIER | 29 and was the first in Goa to use organic farming techniques. In addition to plain drum roasted cashew nuts, the brand’s valueadded products include a variety of flavoured cashews that are a popular favourite among snacks such as pepper cashews, chilly garlic cashews and choco cashews. Zantye’s has also expanded its line of nuts to include almonds and pistachios as well.Recently, the brand has been focusing more on offering a more varied range of nut products. While this foray began with flavoured nuts, it sped on to the introduction of Zantye’s cashew butter and straight onto the latest offering, the Goan Cashew Katli. The real game changer here is that this traditional Indian sweet is made with Zantye’s 100% pure Goan cashew nuts, making it stand out from the crowd. This highly popular sweet indulgence has received excellent feedback and the perfect launch timing played a significant role in its success as several festive occasions are right around the corner. Every celebration is sure to be even sweeter with a box of India’s beloved kaju Throughoutkatli. the years, Zantye’s has managed to create a unique snacking experience in India, right from their healthy nuts with flavoured options to creamy cashew butter spread and a much-loved sweet that makes for the ideal gift. The team’s consistent approach to launching new products and rapidly boosting customer satisfaction has helped them make a mark in today’s market. Zantye’s has carved their own path in innovation, preparing down the line to push forward with the launch of their upcoming choco almonds and new additions to their range of flavoured nuts www. business goa.in
Keeping your child in a day care is a taboo in India. More than a financial decision it is considered a social taboo as a negligent parenting style, but what if new parents and old were given an accountable, dependable choice, of a day care center which also help children develop themselves? With this thought in mind, Nayantara Ray started her day care centre called ‘Kaleidoscope of Life’ with two other ladies; and now at present is the single owner. The team at ‘Kaleidoscope of Life’ is an all women led team sinceThe2016.choice for parents comes down to parenting philosophy and making the trade off between the income earned and the rising salary of maids. Her center is the solution many working mothers and fathers, professionals are looking for, as daycares across the country are becoming more and more popular amongst new age Nayantaraparents. has a master degree in Economics; it is her knack to know about demographics which she uses in her marketing strategies. The flair to work with kids comes naturally to her. Development of a child in the day care contributes to a child’s social, emotional values. Adding up to their overall development, there is a developed social interaction as they are exposed to peers at a young age.
The Maternity Benefit Act of 1961 has made it mandatory for all sectors of industries to have a daycare. Kaleidoscope of life is an established day care under MSME. It caters to all companies with corporate daycare in their premise and factories in house.
Nayantara Ray of ‘Kaleidoscope of Life’
Winds of change with Kaleidoscope of Life
The tagline – ‘home away from home’ says it all. “Kids should get a comfortable and lazy atmosphere just like home but in a more disciplined way. They will get to develop their skills and talent and notDevelopment of a child in the day care contributes to a child’s social, youngexposedinteractionisdevelopment,upvalues.emotionalAddingtotheiroverallthereadevelopedsocialastheyaretopeersataage waste their time online (it is a no gadget zone). Thanks to Kaleidoscope of Life they are not bored without gadgets. The centre is constantly trying to provide good programs and inhouse activities at par with the outside world. I am hoping that women will become more self reliant by going back to work, with faith in daycare centers in the future” says Nayantara
Kaleidoscope of Life: Adarsh Circle, Tonca, Caranzalem, Panaji, Goa 403002. Tel: 97640
LADY POWER
Future @ 2025 A fully well-equipped daycare center is the need of the hour. Kaleidoscope of Life is fully compliant with all government regulations. It is all set to expand into corporate day care in-house or at station as it has become mandatory for every company to have a daycare where there are more than 50 female employees. Kaleidoscope of Life is also looking for expansions, partnerships with companies and inviting franchisee opportunities covering the whole of Goa. They plan on starting a new branch at Old Goa, as it is close to the industrial hub.
30 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST
Nayantara Ray wants to change the way parents look at day care centers with her venture, Kaleidoscope of Life
All women team at ‘Kaleidoscope of Life’ 2022 are not able to devote time for their kids to undertake different activities; all these are provided in house. That is what makes Kaleidoscope of Life different from other day cares.
@businessgoa03074
Providing a wholesome day care along with different activities as working parents
The team at Kaleidoscope of Life comprises of in-house staff as well as instructors of all the allied institutes in Goa. These instructors have their own training schools that come in the premises to deliver their expertise, like Dancophilia, Deserving Sports, Dragon Fitness, Moon Moo Academy, Master franchisee for IMA abacus and many more. The team has been together for many years to deliver the best for kids.
NAYANTARA RAY
T
• Make a positive impression by staying calm and collected
compelling vision makes the pitchToeffective.explain a company’s products, technologies, team and goals to investors, with less than 20 presentation slides, is an essential part of giving a business the chance to attract funding to accelerate growth.
•of: Conduct and gather •researchKnow the audience (the set of investors being addressed)
•
TECHNOLOGY
The Anatomy of a Pitch: Gathering and sharing relevant research or provide a Goa invited promising startups to be a part of 2022
he startup buzz has been louder than ever before all over the country with India proudly claiming 105+ unicorns as of July 2022. In Goa, too, having been amongst the earliest few states to have scripted and implemented its dedicated Start-up Policy, the startup spirit is at its highest. One of the key growth avenues for startups is the opportunity to attract funding from venture capitalists and investors. With the blossoming of the startup ecosystem in the past few years, there are many more avenues now for startups to showcase their ideas, plans, and early wins and attract capital investments. This process is referred to commonly as pitching. A business pitch needs to give a potential investor a clear understanding of the plan or goals of the business to gain buy-in.
FiiRE
Share successes
Role of Incubators:
Ebin E (BITS Bionest), Monica Gupta (Venture Catalysts) and Milind Anvekar (Goa Technology Association)
Making the Perfect Startup Pitch
KHOJ ‘22 FiiRE Goa in partnership with Venture Catalysts - India's First Integrated Incubator, with support partner Goa State Innovation Council and ecosystem partner BITS Goa Innovation; Incubation & Entrepreneurship society invited promising startups to be a part of KHOJ'22 in July 2022, at Don Bosco College Campus, FatordaVentureGoa. Catalysts is an investment group with 5000+ Angel Investors, having funded 450+ Start-ups, graced KHOJ’22, an ecosystem enabling event, at FiiRE Fatorda Goa.The keynote address was delivered by Jose Manuel de Noronha, Chairman, Goa Public Service Commission & Goa State Innovation Council. This was followed by the pitch round where 8 startups pitched: Milind Anvekar, President, Goa Technology Association; Monica Gupta, Venture Partner, Venture Catalysts; and Ebin E., GM, BITS BIONEST judged the pitches made by the 8 startups Kanan Tandi of CogniCue, Ashish Asgekar of Svayu, Shalaka Teli of H2 Health Habits, Priyanka Tayi of KULA Studio, Akhilesh Bhise of Innovent, Akshay Kumar of Fitness Konnect, Ratnam Upadhya of StockLine and Narendra Navali of HorizonFX (P) MonicaLtd. Gupta, Venture Partner, spoke about Venture Catalysts and the partnership at KHOJ’22. The three shortlisted startups at KHOJ’22 were: Kula, Cognicue and Svayu business-goa
•
Start with an elevator pitch
Focus on Investors: The purpose of the presentation is to engage a potential investor. A crystal clear pitch contains everything a potential investor would want to see –research related to the product, competition, marketing plans and company finances. Providing a complete view of the company as it currently exists and the potential value it holds for investors will help persuade their decision.
While investors play a big role, in building the entrepreneurial ecosystem, incubation centers play an equally large role. Not only do they provide access to venture capitalists and investors but also nurture the ecosystem. Whether it is providing access to market, or refining the go-tomarket strategy for the business, incubators can provide value to start-ups quicker and in an efficient manner. Some of the key areas where an incubator can add value include strategic insight and clarity, access to resources including low cost space, networking avenues, collaborations and partnerships and access to industry leaders andGettingmentors. entrepreneurs pitch-ready and providing them to a large network for funding opportunities, is a key area where incubators provide tremendous value.
Khoj ’22 32 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST
Jose Manuel de Noronha, D.S. Prashant and Fr. Kinley D Cruz, Director of FiiRE D.S. Prashant addresses questions to startups at the pitch
Pitch Essentials: When delivering a pitch, these are the essentials that a startup founder needs to be cognisant
ASG EYE HOSPITALS
34 | BUSINESS GOA INDUSTRY DOSSIER |AUGUST
@businessgoamagazine
HEALTHCARE
ASG Eye Hospitals’ state-of-the-art facility at Caranzalem, Goa
Dr Arun Singhvi, Co-founder and Managing Director of ASG Hospital Pvt Ltd
As ASG Eye Hospitals completes one year in Goa, an overview of their achievements and future plans 2022 as Cataracts (Phaco), Lasik, Vitreo-Retina, Oculoplasty, Cornea, Squint, Pediatric Ophthalmology, NeuroOphthalmology, and others are available in this hospital. The medical team at ASG Goa consists of five experienced doctors; Dr Sean Socrates da Silva, Dr Aditya Kajave, Dr Chandraprakash Oli, Dr Piyush Jain and Dr Akash Yadav. Today, ASG Hospitals’ success story has chartered an unprecedented growth path with 37 centers established across India and early forays into Nepal and Uganda. In the past year, since they have set up operations in Goa, Dr Sean and his team has conducted 649 surgeries out of which 377 were cataract operations, 28 retina surgeries, 137 retinal injections, 9 Implantable Collamer Lens (ICL), 1 squint, 4 Pterygium Excision, 47 lasik and 46 Corneal collagen crosslinkings (CXL).“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,” adds Dr Sean.
ASG Eye Hospitals is a leading group of tertiary eye care providers from India which was established in 2005 at Jodhpur, Rajasthan. Two young postgraduates Dr Arun Singhvi and Dr Shahshank Gang from AIIMS, New Delhi came together to sow the seed of the first hospital with a vision to bridge the gap in super specialty ophthalmic care and skills at AIIMS, New Delhi and Tier 2 and 3 cities of India. Their mission 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.”
Gomantak ‘Brand of Goa Awards 2022’
“We are extremely thankful for the love and support we have received from our patients, well-wishers and the medical fraternity through the support of Government of Goa. We are empaneled under DDSSY Scheme (Deen Dayal Swasthya Seva Yojna.) and Ayushman Bharat Scheme to provide affordable care for the poor patients,” says Dr. Sean
Recently, Vasan Eye Care, a Chennai based eye specialty chain, committee of creditors has unanimously approved around an offer from ASG to acquire this chain. The acquisition of Vasan Eye Care will give ASG the widest geographical footprint among healthcare chains in the country with hospitals in more than 20 states.Last year they opened up their first branch in Goa, located in Caranzalem. This hospital is spread over 8,000 square feet divided over the first and second floor with a spacious and comfortable patient waiting lounge. Services such
The finest eye care in Goa
L to R: Dr Piyush Jain, Dr Sean Socrates da Silva, Dr Aditya Kajave, Dr Chandraprakash Oli with Team ASG
Another milestone was achieved in operating a six month baby girl who had a congenital cataract and squint in the left eye. She underwent left eye congenital cataract removal with lens aspiration posterior capsulorhexis and vitrectomy under general anesthesia by Dr. Piyush Jain who specializes in pediatrics cataract and squint. Dr Sean stated that such cataracts should be diagnosed in the early stages and children with leukocoria should undergo dilated pupil examination to rule out other eye related disorders.DrArun Singhvi also mentioned that in the last one year we are indeed proud that ASG Goa has quickly established itself for providing quality eye care to the citizens of Goa.State of Art technology and excellent infrastructure along with an excellent medical and paramedical team has made the difference. Since they commenced operations in Goa, ASG Eye Hospitals has won the Spexmojo presents Business Goa Awards 2022 for ‘Healthcare Brand of the Year’ and ‘Gomantak Brand of Goa Awards 2022’. 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 program for young ophthalmologists in Goa at par with the best in the world is a road map we plan to charter,” he adds.The hospital aims for further expansion across the country in a phased manner providing specialized care under one roof whilst retaining its identity centered on its vision and mission.
GIMCAMPUSwinsthe
@businessgoa
title of ‘Highly CommendedSustainability Institute of the Year’
Goa Institute of Management (GIM) wins the title of ‘Highly Commended - Sustainability Institute of the Year’ in the International Green Gown Awards 2022, during a virtual ceremony. It is the only academic institution in India to win this prestigious global award.GIM was among 56 participating teams from 19 countries like Canada, Australia, U.K, Morocco, etc, to reach the finals. The winners were declared as a part of the UN High-Level Political Forum on Sustainable Development.
The International Green Gown Awards, which recognise exceptional sustainability initiatives undertaken by the world's universities and colleges, raise the bar and place every learning institution at the heart of delivering the UN Sustainable Development Goals.The judging panel took note of the B-school’s extensive program of activities across the majority of sustainability areas. GIM strives to work towards SDG Goal #7 affordable and clean energy, SDG Goal #11 sustainable cities and communities, SDG Goal #12 responsible consumption and production, and SDG Goal #13 climate action. The myriad of eco-friendly methods which are adopted by them include the use of solar energy through a rooftop solar PV plant, using water from the 800 cubic-meter rainwater collection pond present on campus, protecting and promoting the growth of 150 plant species on campus, etc, all of which were considered by the judging panel.
The Centre for Excellence in Sustainable Development at GIM has been the impetus behind achieving this success. Adding to its list of ecologically sound deeds, it has also introduced the Give Goa program, which aims to encourage social responsibility among GIM students and work toward a more inclusive society. The Sustainability Horizon newsletter, which is published by this centre, aims to address the sector's altering dynamics with regard to environmental sustainability. The panel also appreciated the Center's outreach initiatives and examples of student engagement, especially the Sustainability Hackathon.
36 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
Prof. Ajit Parulekar, Director of GIM, said “GIM has always been conscious about its impact on the ecosystem and has continuously strived to reduce its carbon footprint. With the intellectual capabilities we are endowed with, we strive to ensure that ‘Grass is always Greener on our Side’. This Green Gown Award is a reassurance of our collective efforts towards sustainability.”The Environmental Association for Universities and Colleges (EAUC) administers the Green Gown Awards, and each region is governed by a local cross-agency steering group. The judging panel consists of representatives from sector organisations in each region
business-goa AUGUST 2022 | BUSINESS GOA INDUSTRY DOSSIER | 37
The company deals with aesthetically designed spaces with major importance given to the architecture. It is an effort to strike a perfect balance between functionality and design.
crucialthisworld,anexclusivelyemergefromaffluentnationsorlessdevelopedsocietiesalone,whyweliveininterconnectedandwhypandemicisaperiodto re-examine the impact of our cities on our planet’s future.
The book Urbanism Beyond authored by Vinayak Bharne explores numerous questions triggered by the COVID-19 pandemic: Why is city making a health project? How are ecological and human inter-related?wellbeingHow
Ankit PrabhudessaiNilesh Cabral
Vinayak Bharne
Urbanism Beyond 2020, a book on urban planning and architecture, authored by Vinayak Bharne was released recently.Dr Desh Prabhudessai, partner Urban Alchemy and the host of the event, extended a cheerful welcome to Nilesh Cabral, Minister for Environment, Law and Judiciary and Public Works Department (PWD); Architect Vinayak Bharne, the authors; town planners; Principal Ashish K S Rege and faculty members of Goa College of Architecture; members of CREDAI-GOA; and all other guests. Dr Jagannath (Desh) Prabhudessai embarked on his entrepreneurial journey in Margao in 1994. This was in a time, when the construction industry was in its burgeoning stage. Dr Desh revolutionised the industry by introducing quality construction at truly affordable prices with focus on timely delivery. He created a niche for himself in the real estate sector in Margao. His eye for detail and determination to persistently deliver best-inclass products, has been the hallmark of his company. ‘Urban Alchemy’ is a seemingly magical process of transformation, creation, or combination. This idea was originated by Ankit Prabhudessai when he could visualise the city of Margao disintegrating day by day; and is now a testimony recorded and documented in his thesis ‘The Urban Focus’ and its impact on the image of a townin the context of Margao. Ankit is immensely passionate about researching the role of architecture in Goa. After graduating from Goa College of Architecture, he completed a semester of Urban Design from Pratt Institute of Design, New York, U.S.A. Committed to thoughtful, rigorous and meticulous designing, Ankit joined his father as a partner and has since strived for benchmark quality, customer centric approach, robust engineering, in-house
The book Urbanism Beyond 2020 authored by US-based urban planner Vinayak Bharne explores questionsnumeroustriggered by the pandemic L to R: Dr Desh Prabhudessai, James Mathew, Rajesh Naik, Nilesh Cabral, Vinayak Bharne, Jose Braganza
VinayakBOOKSHELFBharne’s
inestatepreferredAlchemycreatingthusconduct,ofintransparencytimelessbusinessuncompromisingresearch,ethics,valuesandallspheresbusinessfurtherUrbanasarealbrandMargao.
can leadership and governance help bridge gaps in our unjust cities? How might we renew our relationship with dwellings and neighbourhoods? How resilient and adaptable are our cities during uncertain times? Amidst climate change and global warming, is the pandemic a prelude to the challenges to Addressedcome?to anyone invested in the well-being of our cities, this collection of essays by an accomplished urban designer and city planner reminds us why the pointers to our future will not
book URBANISM BEYOND 2020, released
Dr Desh Prabhudessai
Urbanism Beyond 2020 was launched by Nilesh Cabral, who was the Chief Guest at the event.Dr Desh said that CREDAI espouses an ethical code of conduct binding on all the member developers/ builders where we follow certain guidelines that have become a moral code of business so as to maintain integrity, consistency and transparency in the profession of real estate development.CREDAI’s foremost responsibility is to bring developers on the same platform and create opportunities for them to interact with other stakeholders in the industries like government bodies, professionals and consultants. “We are in permanent collaboration with the government authorities and together we make this tiny state a remarkable state, known to the entire world as a paradise,” emphasised Dr Desh
38 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST
CRVISUALS CARLTON REBELLO CONSISTING OF MANY YOUNG ENTREPRENEURS AND IS A CHAPTER THAT IS BOUNDS 2022 on their investment. Coderix caters to the worldwide market and have an excellent team who work on projects with specific processes. They aim at delivering a complete high-end technical mix to their clients and support them to achieve business success. Coderix extends support to businesses from all sectors and of various sizes. Coderix also has its own products which are well known in the market and made in Goa like rixCast Online Live Streaming Platform, rixQR - Food Menu and Whatsapp Ordering System.Coderix has been recently recognised as a startup by the Government of Goa, Startup Promotion Cell. Having joined BNI 2 years ago, the network has helped this young tech powerhouse in landing significant business. They managed to get excellent connections and opportunities to do business across borders.This year, with a resourceful Project Management Company, ‘Lifestyle Business Solutions’ aka 'Team
GROWING IN LEAPS AND
ASHWIN
Networking and Building Relationships
BNI Goa was launched in 2010 by Rajkumar Kamat, Founder and Managing Director of EP Kamat Group. BNI Goa has been nurtured and grown by many of its passionate BNI stalwarts, who have enthusiastically volunteered their valuable time and experience
LLP ROHIR NAIK TEAM
MANDOVI IS HIGH IN ENERGY,
Founded by Carlton Rebello, for both large corporations and proprietors of smaller businesses, CRVISUALS creates commercial films. They write scripts and produce specialised video material, such as animated and short videos with motion graphics.CRVISUALS are also into aerials videos and FPV drones. Top musicians, up-and-coming brands, and commercial enterprises make up their ideal clients and one can contact them for customised and interesting video content. Right up from college, Carlton was into video creation and loved creating videos for YouTube and the Robotics Team named Team Phoenix which he was part of, during his engineering days. Carlton has also bagged many national as well as
BIZ NETWORKS
BNI (Business Network International), known to be the world’s leading business networking and referral organisation, with core objectives of offering the best business opportunities, contact sharing and business referrals; BNI Goa strives to enable its members to thrive in the business scenario by building relationships and creating a well thought-out and compassionate system of giving and receiving business referrals.
LIFESTYLE' undertakes turnkey interior-exterior projects and executes them with the finest finish. The team provides end to end solutions, right up from planning, designing, execution to a smooth and happy handover. The main focus of their team is primarily on the project quality, saving client's project costs, relieving them from stress and achieving international events in the field of Robotics. Getting back to video production, he has over 4 years of video production experience with the Adobe Suite and also Cinema4D which is a 3D rendering software network of entrepreneurs and business influencers, Rohir's enterprise plan on achieving 100% growth creativity, and experiments with new techniques for every project. They design and execute beautiful modular kitchens that offer best space utilisation techniques with industry’s top class German hardware and fittings, quality material and variety of external finishes as their client's need and choice. They provide solutions for mainly residential sectors, commercial sectors, and hospitality projects. Their in-house team of engineers, supervisors do not compromise on the quality of the raw materials and workmanship. There are regular site audits to check on the quality of products being used. The team maintains proper timelines to complete every project along with systematic Standard Operating Procedures (SOPs).Team Lifestyle believes that their clients deserve the best; and hence leaves no stone unturned to do justice to their dream interiors and space. A content heart and happy face is what Lifestyle looks for, on completion of their projects project excellence. Team Lifestyle widens its scope of BNI Goa offers its members opportunities to network, share contacts; besides giving and gaining business referrals
CODERIX SOLUTIONS LIFESTYLE KUNCOLIENKAR
MANDOVI CHAPTER Rohir Rohidas Naik, is the CEO and founder of Coderix Solutions LLP, a full-service IT and software company based in Ponda. Coderix is known for developing innovative and user-friendly solutions that drive business for their clients. They develop web applications, software, and websites and promote them online which helps businesses to grow on digital platforms and get returns
+91 8412 00 88 44 www.umanggroup.com info@umanggroup.com @umanggrp Goa's Most TechnologyPromisingGroup SOFTWAREEXPORTS BRANDINGDIGITAL COWORKINGSPACES TECHNOLOGYEVENTS
The couple has been a part of BNI Dynamic Goa for the last 3 years, which gives them a platform to introduce themselves as entrepreneurs
Somaksh, while speaking about his venture talks about how one can harness solar energy to meet daily power requirements by taking a small step towards installing solar plants at homes and offices which can help achieve zero monthly electricity billing. He further adds that his company prides itself on the assured quality, reliability, and environment friendly practice of power generation. Steel Zest provides unique, optimised and pocket friendly solar solutions for domestic, commercial and industrial outfits right from consulting, planning, designing, liasioning, execution to annual maintenance contracts.
DYNAMIC CHAPTER
Skizze Interiors is a firm started by couple Farhana Parveen and Rahid Seffie. Based in Margao, they provide services all across Goa. Interiors or specifically customised furniture has been a part of their lives since four generations. Their family was in the furniture business and the couple took it up as a profession after doing a course in Interior Design in Farhana2014.came up with the name, Skizze which in German means sketch which signifies their sketch to execution journey in every project. Just like the name suggests they have unique ideas and execution plans for each and every individual. They also cater to smaller and minimal requirements in case a client would like just a few pieces of furniture designed by them.
Goa. This was crucial in helping him grow his business. A career-turning decision was joining BNI in 2015. BNI helped him to get connected with a large number of people in Goa and even outside Goa. Now, Thayekkan Electricals is contracted with resorts and hotels, mostly in Goa. Residential properties are a major source of their business. Now they also provide Annual Maintenance Contracts (AMC) to large housing societies and industries
Thayekkan Electricals provides all kinds of electrical works and solutions to all kinds of electrical problems while providing quality service all over Goa. Founded in 2002, Thayekkan Electricals has been providing customer service for over 20 years and has resulted in many happy and satisfied clients.They believe in keeping good customer relations, which is the key element of their business.Theproprietor, Sajilal K.B, completed his studies in Kerala and moved to Goa to find a better place to set up his own business. Today after reflecting upon his decision, he has no regrets.After setting up his business, he was also involved in a few charitable and cultural organisations which made him well known among people in
Hard work and perseverance are the two pillars of success in every phase of one’s life, says Amreen.Her students are very fond of her and appreciate her for her teaching skills and experimenting with various flavours and colours to create something unique. Creativity is one of the main aspects that every child is happy to explore, she adds. Amreen states that if she can bring out the best in a student and motivate them to be successful it will be her greatest achievement
CREAMY CREATIONS AMREEN SAIYED THAYEKKAN ELECTRICALS SAJILAL K.B SKIZZE INTERIORS FARHANA PARVEEN
Joining BNI Dynamic in the year 2021 has helped the entrepreneur to widen his network sphere and grow his business across the state and Somaksh is looking forward to take this beyond the boundaries of Goa. Steel Zest Engineers is working with a vision of ‘Every Rooftop Solar by 2030’ in the state of Goa which will boost the sustainable growth of the state along with the reduction of carbon footprints
BIZ NETWORKS 40 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
WITH
BNI DYNAMIC IS A 5 YEAR-OLD CHAPTER AND IS KNOWN FOR THE ENERGY THAT IT EXUDES BEFITTING ITS NAME. ONE OF THE HIGHEST RETENTION RATE, THEY EPITOMISE HAPPY AND PROUD MEMBERS
STEEL ZEST ENGINEERS SOMAKSH GAUNS DESSAI One hour of sunlight is equivalent to one year worth of energy for the entire planet” – an interesting fact shared by Somaksh Gauns Dessai, cofounder of Steel Zest Engineers. First generation entrepreneur, Somaksh completed his mechanical engineering degree from Padre Conceicao College of Engineering, Verna in 2014. After working for four years in various industries across Goa, his passion for technology and entrepreneurship led to the formation of Steel Zest Engineers.
Chef Amreen Saiyed of Creamy Creations is a professional baker and cake artist and has been in the business for over five years. During her stint as a cake artist she has won a couple of awards at different events. She always wanted to be a chef and it all started with a hint of passion that led her to turn her childhood passion into her profession. When Amreen started her career as a chef, things did not turn out as per her expectations. But she didn’t lose hope and refused to give up.
The couple has undertaken various commercial and residential projects all over Goa.Customized furniture is their speciality with added expertise in modular kitchens. Skizze provides long lasting solution for one’s home and commercial space with promising quality and affordable pricing including best plywood or wood material, strong hardware and lavish lamination to improve the aesthetic look along with a warranty period.
SUPERSHINE FACILITIES
BNI IS A VIBRANT 9-YEAR-OLD CHAPTER, WHICH MEETS IN PANAJI ON THURSDAYS. VIVACIOUS AND BURSTING WITH 2022 Goa.Chawan firmly believes that the life of an entrepreneur is tough and building one’s empire from ground up takes every bit of one’s soul, blood, andAtsweat.Vision Design, they take pride in their extensive experience with modular kitchen designs. Their curated designs range from simple kitchen designs to modern modular kitchens that can be customised to fit one’s existing space. The company provides complete kitchen solutions. The best advantage of a modular kitchen is its efficient use of space. At Vision Design they have the ability to make a small kitchen seem uncluttered andKitchensorganized. are the most crowded rooms of any homes in the 21st century. With the increase in popularity for open kitchens and more people being welcomed into kitchens Vision Design feels concerned about Umesh S Naik from SK Financial Services has been providing his services in financial planning and mutual funds distribution since 2016. With a vast experience of over 20 yrs in the financial sector, he manages assets in excess of 50 crores of over 300 investors acrossHisGoa.expertise lies in wealth creation for their clients through investment in mutual funds, tax planning and as well as planning for emergency funds the space in the kitchen. They offer their clients with smart, efficient, and durable kitchens equipped with a stove, a sink, a refrigerator, and worktops by optimising the space in the kitchen to their client’s comfort and satisfaction. “Our quality and workmanship remain unbeatable,” says Chavan
ELEGANCE CHAPTER
Suresh Chawan, Started his journey as an entrepreneur in 2016 after working in an architectural firm Mozaic for five years. In 2017, he formed the company Vision Design a modular kitchen firm along with his friend and business partner Soloman Lambani. Having an experience of over 9 years, he now has carved a niche for himself as the leading modular kitchen dealer
RINALDO ROZARIO
AGoa-born entrepreneur, Rinaldo Rozario, has carved out a special place in the facility management market. Making a ‘clean’ difference to many five star properties and having staff strength of more than 700 employees Supershine Facilities is now inclined to be one of the best Facility Management
Integrated Glass and Windows has gained rapid acceptance across Goa for the overwhelming advantage of better protection from noise, heat, rain, dust and pollution. They suggest designs which would enhance comfort and aesthetics from inside and improve the facade of the building.
IGW has been working with the best and premium builders, architects and individual villa owners in Goa since 2017 and has gained a positive response from all of their clients. Integrated Glass and Windows has a well-established service network to deliver seamless service at one’s doorstep
in
ELEGANCE
Ambar Saiprasad Amonkar is the face behind Integrated Glass and Windows. They provide their clients with their favourite decoration style, done up in the Japanese System of aluminium windows with the concept of window in a box from IGW- Lixil Tostem window frame. Their showroom is located on Kadamba Plateau.
INTEGRATED GLASS AND WINDOWS (IGW) AMBAR AMONKAR
ENERGY, IT RECORDS ONE OF THE HIGHEST BUSINESS SHARES PER MONTH BIZ NETWORKS 42 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST
Team BNI Elegance celebrates ‘Azadi ka Amrit Mahotsav’
VISION DESIGN SURESH CHAWAN Company in Goa. The entrepreneur’s 10-yearold company Super Shine Facilities specialises in creating and providing customised cleaning solutions to all their customers.Their services include housekeeping services (Luxury Hospitality), Housekeeping Services (Industrial), Housekeeping Services (Residential), Kitchen stewarding, one time projects (cleaning of flats and bungalows), Upholstery and sofa cleaning, Cleaning material supplies and Integrated Facility ManagementSupershineServicesFacilities offer services focusing on creating a better cleaning experience to all their clients in Goa, Karnataka, andTheMaharashtracompany’s consistency, efficiency and overall service module earned them a name for being the most trusted brand for facility management services in Goa
SK FINANCIAL SERVICES UMESH NAIK
Atmaram Desai is the founder of A Squad Security Co. Having graduated in Commerce in 1998, Atmaram went on to complete his LL.B. degree in 1995.Prior to his entrepreneurial journey, he worked as an advocate attached to the Chambers of Adv Mahesh Sonak who is currently the presiding judge of the Bombay HighInCourt.February 2019, Atmaram started his security company, A Squad Security Co followed by A Squad Plus in September 2020.A Squad Security Co. is one of the fastest-growing security firms in Goa. It has a team of experienced, trained, and licensed personnel who are available 24x7 to provide top notchCurrently,security. they have 200+ security personnel and 60+ clients ranging from top industries, motor companies, super centres, hospitals, hotels, A
BNI TOP PERFORMERS ACROSS CHAPTERS IN GOA
Designer Homes has achieved a stellar reputation over the years, by maintaining their quality, keeping their loyal clientele satisfied and matching international standards with ease. Fauzia is a part of the Elegance Chapter at BNI Goa acquired by providing timely delivery, competitive cost and consistency in quality. They deal in sales and services of all types of printers, from table top to heavy duty multifunction printers, along with their consumables like toner and drum cartridges etc. They offer various services like leasing of small printers and heavy duty MFD printer for companies, offices and corporate events.
Yog Services provide AMC and FSMA (Full Service Maintenance Agreement) for printers along with sales of all printer accessories and spares like toner cartridge, drum cartridge, and ribbons and PVC cards. The firm’s continuous efforts to provide quality and cost effective products has given them an opportunity to serve many premier organisations in Goa. They have been a trusted name in the market for their extraordinary services and dedications. Yogesh is a part of the Alchemist Chapter at BNI Goa
SQUAD SECURITY CO ATMARAM DESAI DESIGNER HOMES FAUZIA KHAN
Atmaram joined BNI 2 years ago and is now the President of BNI Mandovi Chapter. He says that A Squad Security Co. has grown and 40% of its business comes through networking and grabbing growth opportunities at BNI.Hehas a deep love for sports and has participated in more than 30 Nationals in basketball representing Goa, frequently in the role of captain. He has also won medals in powerlifting and table tennis at the intercollegiate level
After nearly a decade in the industry, Designer Homes is one of the leading furniture manufacturers while prioritising innovation in the industry. It is the brainchild of Shahid Naik and Fauzia Khan, who wanted to bridge the gap between quality and affordability in the furniture market.Designer Homes has garnered trust from their loyal customers by providing commitment and quality at every step of the way. Through their dedicated work, they have become a reputable firm with a long list of satisfied customers. They have worked with corporates, developers, government, architects, and interior designers. Despite the roadblocks in the recent years, Designer Homes has prioritised innovation amongst their clientele and come out victorious.Working with Designer Homes gives one the freedom to choose materials from different finishes and sizes, and further customise them to execute whatever design one like. The handover is always timely because the furniture is locally manufactured with high tech imported machines. Rest assured, one’s hyper specific requirements can be easily handled and executed to perfection.Designer Homes is aspiring to work on package concepts for hospitality industry with modern designs and themes. They are also looking to manufacture international standards and ultra-modern ready to install office furniture with limitless partition options.
YOG SERVICES YOGESH SAWANT Founded by Yogesh Umesh Sawant around 20 years back is the Ponda based authorized dealer of Xerox India. Yog Services is a team of trained professionals who understand what customer needs are and try to fulfill those requirements in the promised span of time. They believe in supplying quality products with the best possible services and that the confidence of a customer can be AUGUST 2022 commercial establishments, and gated housing complexes.
BIZ NETWORKS 44 | BUSINESS GOA INDUSTRY DOSSIER |
HAPPY INFRACONHOMEPVT. LTD. SHAJI BABU KABEER Happy Home Infracon India Pvt. Ltd is a real estate agency in Goa located at St. Inez Panaji. The firm was founded by Shaji Kabeer who has over 15 years of experience as a real estate broker in Goa. They aim to provide the best end to end-to-end service to their clients. Happy Home has been scaling new horizons of success in buying, selling and renting properties. They are committed to bringing to their clients the best in value and quality service for buying, selling and renting properties in Goa. The firm also helps in acquiring loans from banks and doing valuation of properties. In short they try to give the best of service to their clients. This firm is recognized for its excellence and of having achieved the highest levels of performance, experience, and financial stability in the real estate industry. Shaji is a part of the Elegance Chapter at BNI Goa
The first of its kind in Goa, the program covered modern techniques in waterproofing, concrete repairs, concrete protection, injection grouting and concrete technology along with the practicalities of using modern construction chemicals.The program was conceptualised and delivered by IITD for Assess Build Chem Pvt Ltd and offered a Certification of Competency, Accredited and Certified by the Construction Industry Development Council (CIDC).The program was inaugurated by Dr. P. R. Swarup, Director General of CIDC and Robert D’Souza of Int-Electra, a highly experienced technical expert in the field of injection grouting, along with Er. Samir Surlaker, Director of IITD. Each of the dignitaries shared their vast experience and highlighted the importance of training and IITD’s training program in structural repairs and waterprooofing
BIZ BYTES 46 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
“We work very closely focussing on the smallest details! We have consciously worked on special packages considering the pandemic; and we have got a good response for the same!”
Inauguration of the program
INDIA’S FIRST WEB 3.0 CONFERENCE SPARKS
Shruti Tiwari with the coveted award Institute for International Talent Development Pvt Ltd [IITD], launched its inaugural 3-day training and certification course to develop skilled supervisors and entrepreneurs in the field of waterproofing, structural repair and maintenance of structures.
INTEREST AMONG TECH-STARTUPS India’s first ever chain-agonistic Web 3.0 Conference saw techenthusiasts from across the globe converge at Goa for the three-day power-packed event. Atal Incubation Centre at the Goa Institute of Management (AIC-GIM) partnered with GirlScript Foundation and was attended by over 600 techies. Multiple speakers from various Web 3 associated companies like Alchemy, Solana, Lumos Labs, and Shardeum shared their knowledge with the curious yet driven audiences. Opportunities and challenges related to Blockchain, Cryptocurrency, protocols, NFT and many more were broken down at the conference over the course of the three days www. business goa.in VLW Global shines at Wow Awards 2022 VLW Global won the bronze prize at Wow Awards 2022 under the category, ‘Wedding Celebration of the Year’ for the Ishita Advani Karma Vivaan Wedding Ceremony. The Experiential Celebrations Group at WOW Awards 2022 comprised of 21 categories and was aimed at celebrating the best work done by experiential agencies in various aspects of weddings, celebrations, and social events. A total of 70 metals were given away in this group after an intensive 2-round jury process verified by KPMG. Since 2009, WOW Awards has been the epitome of cultivating and celebrating excellence in the creation of LIVE events. 2022 marks the 13th anniversary of WOW Awards –the region's largest business and recognition platform for the Experiential Marketing, MICE, LIVE Entertainment and the WeddingShrutiIndustry.Tiwari, Founder, VLW Global won the bronze at the awards for a second time in a row, making Goa proud of her achievement. VLW was awarded a bronze for the Best Wedding Celebration (Planning/Overall Management for the wedding ceremony of Ishita Advani and Karma Vivaan which was hosted at Alila Diwa’s tranquil courtyard under the canopy of infinite greenery decorated with beautiful chrysanthemum hangings. The courtyard was illuminated with thousands of candles that created a blissful atmosphere.Shruti’s company VLW Global is now almost 6 years in the market. She says that the best part of her company is that they had been planning intimate weddings for long.
skill waterproofingfieldcoveredprograminstructures.maintenancewaterproofingtheespeciallydevelopment,infieldofandofThesegmentsthetrainingwereintheofconcrete,and repairs and maintenance of structures.Thetraining was headed by Er. Sunny Surlaker who conceptualised and conducted the course and covered the basics of concrete, waterproofing, repairs, and detailing.Theother trainers for the course included, Er. Samir Surlaker, Robert D’Souza covering case studies in injection grouting, Prasad Bhobe, covering practical material application, Shounak Vaigankar covering practical injection grouting and Sujay Surlaker, speaking costing and estimation.Thehighlight of the program was a joint CIDCIITD certificate provided to the participants. This certificate of competency was provided based on level of interest and participation in the course, demonstrations, and a written test. This certification allows the attendees to be placed in CIDC’s national database and aims to improve their skills but most importantly, their employability. CIDC and IITD both aim to expand the footprints of this program across India Er. Samir Surlakar of Assess Build Chem Pvt Ltd gives away certificate to a participant
Changing Scenario of Retailing
Present day retailing The retail industry and retail businesses, since then have only seen an upward trajectory with changing formats having tremendous growth potential. It is divided largely into organised (departmental stores, supermarkets, hypermarkets, malls etc.) and unorganized sectors (‘kirana’ stores, ‘paan-beedi’ shops, general stores, chemists, hawkers, etc.). The unorganised sector still dominates the Indian retail landscape with about 89-90 percentage stores, while the organised sector constitutes about 9–10 percent stores. There is a long way ahead for the organised retail to grow in India. Several studies have proven that the Indian retail market is one of the top emerging markets in the world and is a preferred retail destination globally. India has the highest per capita retail store availability in the world, majority of which is in unorganised sector. As per A.T. Kearney’s 2021 Global Retail Development Index (GRDI) report, India ranks 2nd in terms of potential for retail business globally, with total retail sales of about 1,163 billion dollars. It employs about 35 million employees currently and is expected to generate 25 million new jobs by 2030. More than half of these new jobs will be based on integrated offline and online models. Retail industry contributes about 11-12% to India’s overall GDP. Higher disposable incomes, urbanisation, changes in middle class lifestyle, technological advancements, increased digital connectivity and supporting infrastructure, are some of the factors that support India’s retail sector, and it is expected to grow to about 1.4 trillion dollars by 2026.
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The word ‘Retail’ is derived from a French word ‘Tailler’ (in terms of tailoring), with the prefix‘re’ and the verb ‘tailer’ meaning ‘to cut off, break, divide’. Put simply, retailing means breaking the bulk to serve individual endTheusers.barter system of trade is considered to be the oldest form of retail trade and it dominated for long, remaining the most acceptable form of transactions for necessities between two individuals. The history of retail in India could be traced back to one such event, that dates back to 1672 AD, where a one-day cattle trading fair called ‘Nauchandimela’ started in Meerut city of UP. In present times, the ‘Nauchandi Mela’ is held as an annual fair by the Municipal Corporation of Meerut at Nauchandi Ground, starting from the second Sunday after Holi. The fair stretches for about a month and attracts large crowds for entertainment and commerce. Just like ‘melas’, the emergence of ‘Haats’ and ‘Mandis’ was also seen everywhere. These formats of retail business have always been a part of the Indian retail landscape and will continue to be so for many more years in most parts of the country.
BEYOND CLASSROOM / DR. PRADEEP SALGAONKAR 48 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
The writer outlines the history of retailing in India, right up from small ‘kiraana’ shops to online stores Irecollect, in my younger days, I sometimes accompanied my mother to Mapusa for shopping. We would take the bus from Guirim Cross bus stop or walk our way through the fields, by the side of the river to Mapusa. There used to be only a few famous shops selling all possible items of necessity to the people. It used to be a delight to observe the shop keepers tie the grocery items in paper cones with thread and hand it over to the customer. These pieces of thread all put together, would then be used by us as the string for flying kites during kite flying season. The Mapusa market was the main source, serving all the surrounding villages, and people thronged to Mapusa, especially on Friday, which was the market day. Presently, the main shops that dealt with day to day requirements of people like groceries have undergone a transformation. There are hardly few shops dealing with grocery items today. Some of these shops have been converted and different kind of business is running from there. There are large numbers of clothing, fashion, phone, and phone accessories shops spotted in the market. The needs of people and the way people shop have changed. However, although the structure of this market and the nature of businesses have changed drastically over period, even today, the Mapusa Friday market remains very popular among locals as well as tourists from all over India and abroad. Even today one gets the glimpse and flavour of the age old traditional Friday market. It is bound to happen that the local market structure evolves with evolving overall retailing structure in the country. Retailing as a business sector in India has evolved and grown manifold over the decades. Tracing the evolution of retail in India
As society progressed, retail was dominated by peddlers, hawkers, small vendors, neighbourhood ‘kirana’ stores, mom-and-pop stores, sole clothing outlets, and consumer durable stores in a nearby town. In 1939, the Public Distribution System came in existence, and as we know it is present till date. Post-independence i.e in year 1956, the Khadi & Village Industries (KVIC) was established to provide impetus to rural retail. The concept of co-operative stores took off in a big way in India and today we witness many successful businesses operating under the co-operative stores format.In1980s, when the economy partially opened up, the Indian retail industry underwent a real change. Till now the Indian retail was an unorganised sector. The emergence of big retail chains in India was witnessed in the textile sector. Bombay Dyeing, S Kumar’s and Raymond established their stores to retail fabric. Others who set up their own retail chains were Reliance with Vimal showrooms and Garden Silk Mills with Garden Vareli. Subsequently, the likes of Madura Garments, Arvind Mills etc set up showrooms for branded menswear in organised retail format in India. The departmental store format arrived in India with independent retail stores like Akbarally’s, Vivek’s and Nalli’s. Titan launched its retail showrooms, and the organized retailing further started strengthening its grip in the Indian market. In 1991, post liberalisation, FDI and FII in the retail space increased, and the curbs that were once imposed on the sector, were eased. Exclusive retail outlets started emerging on Indian landscape. In 1995, retail outlets such as Music World, Planet M, Crossword, Food World etc started operations in India. Later the large retail formats like supermarkets, hypermarkets, and shopping malls, came into operation. The Mall culture really started building, especially in the metro cities in India. This format was basically for providing everything under one roof to the consumer with best of the class shopping experience.
The writer is Founder Director, Saldots Academy, corporate trainer and facilitator. He is former Chairman, Goa Management Association. Email: pradeepsalgaonkar@gmail.com
Make Memories at Fortune Miramar Located in the heart of Panaji city, the capital of Goa, Fortune Miramar offers guests a place to unwind in absolute comfort. A contemporary hotel for the modern-day traveller, Fortune Miramar features beautifully-furnished rooms, a fully-equipped banquet facility and a selection of dining outlets. Comfortable Accomodation STANDARD ROOMS FORTUNE CLUB ROOMS SUITES Daffodil Mayflower Alfresco Airconditioned indoor hall Airconditioned indoor hall Outdoor venue with automated roof Off Miramar Beach, Panjim, Goa, India 0832-6637300 getintouch@fortunemiramar.com www.fortunemiramargoa.com /fortunemiramargoa/fortunemiramargoa Host Memorable Events and Enjoy Comfortable Stays at Fortune Miramar
‘nice-to-have’ technologically advanced features, such as augmented reality (AR), Virtual Dressing Rooms (VDR) and Interactive Mirrors (IM) have become ‘need-to-have’ tools for catering to digitally savvy consumers. Examples of Caratlane and Lenskart already offering virtual try-ons are important eye openers to many in the space.Though the history and evolution of Indian retail is very romantic, the future seems to be equally potential, dynamic, and competitive. The retail space is no more the same what it was a decade ago. The newer generations are tech savvy with different capabilities, expectations and needs and enjoy ‘experiences’ as a necessary ‘core product’ associated with any product or service. Thus its retailers’ challenge, irrespective of the format in which it operates, to grab the attention of this HoHo (Hop on Hop off) customer and convert her to a paying customer. The future for Indian retail is great provided the retailer knows to woo the customer
The writer highlights the journey of Kamat Constructions and their pioneering strides in the real estate space Engineer Uday Kamat is the one who, I believe, revolutionised the real estate development sector in Goa. He is B.E. Civil by qualification and is based in Panaji. Uday started this business with his brothers Ramesh and Dattaprasad as early as 1969 and has thus completed 53 years in the sector. The Kamat brothers were and continue to be main pillars of the business. In 1969, real estate in Goa was not so highly priced (remunerative) nor much sought after. Cash flows were moderate and uncertain. Risks were high, yet the Kamats’ survived and later thrived. Later they also ventured into the manufacture of tiles. They made a big splash in the hospitality sector with Hotel Nova Goa and Hotel Golden Goa. Much later, they entered the big leagues by collaborating with the highly respected TAJ group of hotels by launching Taj Vivanta at St. Inez and another one at Caranzalem. Matching the standards of Taj group was extremely demanding and required a lot of long term funds. The Kamats with their iron will and adventurous attitude in business accomplished the task spectacularly. But, to me, their real story is the story of housing which they constructed for Goan families. In the 1970s, Goans were on the lookout for high quality homes at a reasonable price and from a reliable builder who would not take them for a ride. The Kamats were true to their word and delivered on quality, price, and reliability. I know scores of people who signed the flat ownership documents with their eyes almost shut. Such is the credibility and reputation of the family. A genuine concern for people who purchase flats is the timely delivery of their apartments. Kamats have ensured that the buyer gets delivery of the flat in time. This in turn enhances their sterling reputation. Over the last 50 years that I know them, not a single person has told me that they were at the losing end in their transactions with the Kamats. Be it quality, apartment specifications, commercial matters, legal title, etc, Kamats never cut corners and always ensured sufficient parking, ample garden/play area, so that living in Kamat’s apartment complexes has become a pleasure for many. I stay in one of their colonies where we have a garden and play area as big as a football ground, and I do not mean to exaggerate!
In the real estate development business, I have seen many builders getting wiped out due to inherent vagaries/pitfalls. However, the Kamats have stood like a rock for 53 years and counting. In this business holding power (liquidity) matters a lot. The Kamats’ know precisely which premises (flat etc.) to hold and which to sell, thanks to their experience and business acumen. Incidentally, my office is also in one of Kamat’s commercial buildings. Kamats have constructed shops and offices for numerous Goan professionals and businessmen thus lending a helping hand to Goa’s economic development.Talkingin terms of figures, Kamats have constructed over 55 complexes/colonies which encompass around 1,250 flats. Thus they have given homes to 1,250 families in Goa. The quality of construction being high, the resale value of a Kamat apartment is also high, which enables the seller to buy a bigger apartment by using (partly) the sale proceeds. Another factor for their success is the after sale services and quick society formation which keeps all their clients satisfied, and in turn makes for the best advertisement for the Kamats.
50 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022 Uday started this businesspillarstoandbrothersThethe53completedhas1969asDattaprasadRameshbrotherswithbusinesshisandearlyasandthusyearsinsector.Kamatwerecontinuebemainofthe Continued From Page 48 Uday Kamat
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
In my considered opinion, among Goan builders, as far as risk taking (both in real estate and hospitality) is concerned, the Kamats are second to none. Add to that, blessings of 1,250 families for whom Kamats have constructed a home! One can conclude that Kamats have left an indelible imprint on the business segment of our Goa Online retail space
The online retail and e-commerce market have grown many folds in last few years, with the covid-19 giving a big fillip to this format. This market at present is valued at 41 billion dollars, and is expected to grow at about 24 to 25 % untilAdvancements2025. in technology, ease of internet connectivity, digital convergence, and blended formats have caused a permanent shift in consumer behaviours and expectations. Omni channel solutions are experiencing rapid adoption by both consumers and retailers’ alike. Physical retailers are partnering with online marketplaces such as Amazon and Flipkart. For example; IKEA is offering clickand-collect service, beauty e-tailer Nykaa has launched international brands on the Nykaa Global Store, and many more.With growth and increase in demand comes competition. India’s online grocery space is growing in importance and competitive activity with players such as Amazon, Flipkart, BigBasket, Grofers (now Blinkit), Jiomart, and others battling for their share. Swiggy, an online food delivery company, has also introduced Instamart, a 30 to 45-minute grocery delivery service. Local retail chains too are experimenting with online shopping apps and free home deliveryOnceformats.
Kamats: Goa’s Finest Business Buiders
SANTOSH KENKRE / WISE WORDS
Masterclass on review-writing CABBAGES AND QUEEN / NANDINI VAIDYANATHAN The writer lists out the important points on what a review of an accommodation should include Ihave come to the conclusion that the human race is seriously contrarian. For instance, we are a highly diningYes,completeJusttosilenceChowpattyandofwasadownmountain.RecentlyhowwillAndreviewermountain,wordy.wasareviewsmisleadingIantonow.roomWCsearchedWCahotels,Inwashroom.table,placementintoaboutunlikespaces,junkie,evenspaciousnessWhethertravel,theproducts,andweeverything-is-grist-for-criticismopinionated,speciesbuthavenocluehowtoreviewproductsexperiences.Mypeeve,morethanwithiswithexperiences,especiallyinhospitalitysector.Itravelalotandoutof300daysthatIatleast200days,oflate,isforpleasure.itisinIndiaoroutside,IprefertheofanAirbnbtoconfinedhotels,starredones.SinceIamanexperienceIlovetheunpredictabilityofAirbnbnotwospaceslookthesame,quitethehotelswhichhavethe‘sameness’theirlookandfeel(evenbeforeIwalkaroomIcanpicturethelayout,theofthebed,thesofa,thewritingthewardrobeandthedoortotheOnlyoncewasIflummoxed.Paris,inoneofthebrandedfivestarIcouldn’tlocatetheWC.TherewassmallalcovewiththeshowerheadbutnoanywhereandevolvedthatIam,Ievenforabedpan!FinallyIlocatedthebehindawoodpanelrightnexttotheentrance!).Let’scomebacktoreviewsSincepicturesaremisleading,IlikereadthereviewsbeforeIsignupforAirbnbproperty.Andovertheyearshaverealisedthatthereviewsarebothandunhelpful.Ifthereare10foraproperty,6ofthemwillhavepithyone-wordreview.GOOD.Whatgoodforgod’ssake?4reviewswillbeEspeciallyifthepropertyisintheafistfulofskywillmakethewaxeloquentaboutTHEVIEW.ifthepropertyisisolated,thereviewerraveaboutTHEFOOD.AndineveryinstanceIhavediscoveredmisleadingthesereviewshavebeen.wewereinapropertyintheItwaslocatedatavantagepointadirttrail,offthemainroadandhadwonderfulvalleyview.Buttheproblemthatdownthevalley,therewasplentyconstructionandthetrafficofmenmaterialgoingpastthispropertyputtraffictoshame!Ifwewantedandsolitude,thiswasthelastplacebe!Andnotasinglereviewerflaggedit.thewaynotasinglereviewerflaggedtheabsenceofhygieneinthekitchen.thefoodwasservedhot,butsincethetablewasintheopenkitchen,you
The columnist is co-founder of bakery and restaurant business (www.concoctions.fr) with her French Michelin-star chef life partner. Email: nandini@carmaconnect.in 2022 had to be blind to not notice the garbage strewn around by a cat, the kitchen cabinets which were greasy and downright dirty, and all cooking ingredients kept in open plastic covers! And mind you, the places I choose are premium properties with a super host, which means top quality amenities and hygiene guaranteed.
• I always book the whole place, not just a room. So check if the property can hold the number of people it claims it can hold. So if it says 3 bedrooms, you are safe to assume it is good for 6 people. In Yelagiri, in Tamil Nadu, most of the reviews talked about how big a place it is and could accommodate more than 12 people. Much to our horror we discovered there were only two rooms but the drawing room was large and it could accommodate 12 people if you converted it to a dormitory!
• What are the activities to which you have access from here? Or is it a good place to do nothing?
• Does the location pin shared with you take you to the doorstep of the property or did you go on a merry-go-round? This has happened to me countless number of times, someone drops a wrong pin and you become Garfield chasing his tail!
• What are your first impressions of the property? If it promises a mountain view can you actually see the mountain or only a general direction? And if the property is supposed to be on the beach, is it ON the beach where you can see the sea or is it a half-a-kilometre walk away? It happened to us in Mandrem in Goa. When we booked, it clearly said on the beach, with a view of the sea. The reviews raved about the sunset. When we reached the property we couldn’t find the beach anywhere. When we asked the superhost, she looked seriously puzzled. She said, walk for a kilometre, you can actually hear the waves! And if you sit on the beach, you can watch the sunset!
• Check minutely for hygiene. Washrooms and kitchen are the biggest giveaways. Insist that they change bedsheets in your presence. Does the air smell fresh or stale? Is the ventilation good?
Recently we were at a mountain log cabin and the reviews had particularly thanked the caretaker for the amazing omlette he had served. When we were served the same omlette, all I could do was take a picture of the burnt uncouth blob that sat on my plate to the superhost of the property!
52 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST
• And how helpful and accessible are the superhost and his on-site staff? All this can be covered in less than 500 words in the review. A good review is one which is objective and reasonable, not an emotional rant. Writing a review is not an art. It is as natural as breathing in and breathing out! A good review is one which is objective
So here’s my masterclass on what a review of an accommodation should include:
• Mention distance from the nearest transport head. For instance, if the nearest town is Panaji, and the travel is to Agonda, say how far by road it is, what is the condition of the road, how long a drive it is and what kind of scenery you can expect along the way.
• Is the kitchen well-equipped so that you can do your own cooking? Or is there a caretaker who will make breakfast for you?
breathingbreathingasanreviewrant.anreasonable,andnotemotionalWritingaisnotart.Itisnaturalasinandout!
INVEST RIGHT / MAHESH PAI
5. Potentially earn higher returns
The writer elaborates on the advantages of long-term investing
2. It takes the emotion out of the equation Downturns can be dreadful, but the key is to manage your negative emotions well and one may consider buying at such corrections. Similarly, in an upturn, don’t get swayed if you make good gains. It may be one of the few instances in life where a less emotional approach could be beneficial, but when it comes to your finances, you might want to listen to you head and not your heart.
3. You will sleep better at night Any change in the market graph will not affect your peace as it generally affects shortterm investors. As a long-term investor, you do not need to worry about market fluctuations. Note that these fluctuations often make one anxious, resulting in making bad calls and wrong investment choices. However, when you are committed for the long-term, these fluctuations don’t bother you, thus giving the much-needed peace of mind. But once in a while, do look at your investment portfolio to check if you have made any investment mistakes and get it rectified with professional help.
6. Offers tax advantages When you constantly make buy and sell investment decisions, there are tax implications. As per current tax laws, you have to pay 10% Long-Term Capital Gains Tax if your gains are more than `1 lakh and the holding period is more than 12 months. As opposed to this, if you sell within one year, you have to pay 15% short-term capital gains tax. So, invest sensibly for the longterm whereby you save tax. Long term investing comes with a lot of benefits and statistics don’t lie. These investments are not subject to any adjustments due to temporary market fluctuations, so patience is the key! Don’t be a sprint runner but be a marathoner.
A good habit of investing regularly and systematically will instil investment discipline and hence timing the market will not be necessary. One must remember that the most difficult decision isn’t buying or selling but it is in the waiting Legendary investor Warren advocatesBuffettthis approach when investing for the long-term: ‘Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years’. Long-term investing is likely to lead to meaningful wealth creation in the long term. Many individuals who lack the financial expertise depend on long-term investment returns to plan their financial futureWarren Buffett
1. Compounding returns The compounding rate of interest always works in your favour. Good long term investments work as a blessing for investors who want to reap huge profits in the future. You can also reinvest your dividend and receive compounding benefits on your principal amount. The longer you remain invested, the more time your money gets to potentially grow.
It is not always possible that you may build stupendous wealth over a short period. Hence, you must give enough time for investments to grow. And if you have made good returns, do not expect the same result at all times. You never know when another global crisis may hit or another pandemic, so plan for the worst, and hope for the best.
4. Risk mitigation When you have a short investment horizon, there could be risk of capital erosion, owing to the negative emotions at play. However, over the long term with favourable market conditions and macroeconomic conditions, your market-linked investments may have the potential to grow. Risk and investment go hand-inhand. Any investment, irrespective of how big or small it is, carries an element of risk. The risk quotient is high when you invest in asset classes such as equities. However, when you remain invested for long, the risk gets averaged out over a period of time. So long term investments have lower risk and nobody wants to put their money at risk.
The benefits of long term investing are:
The writer is an investment consultant and business coach. Email: mahesh@maheshpai.in Everyone wants to get rich quick and fast but does this generate wealth or give you short term happiness? Literate people are mostly aware of the risks that come along with ‘get rich quick schemes’ and invest in it in small amounts. Once the invested amount gets higher within a short span of time it gives them the confidence to invest more. This time their greed makes them invest a huge chunk of money without analysing the market and economic conditions and eventually some even lose the invested capital. The biggest factor of taking such irrational decisions is because of ‘FOMO’ (Fear of missing out) and wrong advice by non-finance professionals. Despite how easy digital investment management platforms have made investing, it shouldn’t be done impulsively. In fact, if you decide to enter the investing world, one thing to consider is how long you actually want to invest for, and whether you’re prepared to be in it for the long haul. As a matter of fact, sticking with your investments for a number of years could bring many advantages. Legendary investor Warren Buffett advocates this approach when investing for the long-term: ‘Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years’. Long-term investing is likely to lead to meaningful wealth creation in the long term. Many individuals who lack the financial expertise depend on long-term investment returns to plan their financial future.
Are short term gains impacting your long-term vision?
54 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
If you are tempted to abort mission at the slightest market sneeze, it could be helpful to step back and assess the situation before you make any decisions. Staying focussed on your long-term goals could help you to avoid irrational decisions based on your emotions at the time of a market dip.
Contact WISELY HR CO for all your IT recruitment needs ARE YOU HIRING? +91 72761 83011 www.wiselyhrco.in info@wiselyhrco.in WE CAN BE MEMBERYOURANDRECRUITMENTYOURPARTNERHELPYOUCHOOSENEXTTEAMWISELY.
WOMEN AND HEALTH / DR EMANUEL GRACIAS
Miscarriages: more common than you think
New research has found that about 10% of women worldwide have experienced at least one miscarriage in their lifetime, the doctor-writer elaborates on this common phenomenon Then there is the inevitable miscarriage, where a little to a lot of bleeding is seen. When the uterine mouth opens, the miscarriage becomes permanent in this case. In some cases women undergo an incomplete miscarriage where some of the pregnancy tissue comes out of the uterus, and some stays inside. This requires dilation and curettage so that all the parts that remain within the uterus are taken out so as to prevent infections and sepsis. Patients are generally called back in seven days time to ensure that no particles have been left behind. The other type of miscarriage is a complete one, all pregnancy tissue comes out in this case and you usually don’t need any extra Whiletreatment.theexactcause of loss of pregnancy is unknown, there is almost never a link between something a pregnant woman has done and a miscarriage. Miscarriages in the first trimester are thought to occur due to the unviable genetic material of parents combining or chromosome anomalies in the embryo. Incorrect implantation of fertilised egg in the utero or underlying problems in mother can potentially lead to a miscarriage. Basically, a number of reasons, including environmental factors can lead to pregnancy loss. It is important to understand here that neither parent is responsible for any of the causes. Miscarriages, according to most experts, are just the body’s way of terminating a pregnancy that is unlikely to result in a healthy foetus. We understand how devastating a miscarriage can be for a couple; especially the woman and we are here for you. You are not just a vessel to bear children or a carwash that we clean out your uterus and end the process; healing takes time but, what you need to know is that while it does feel lonely, you are not alone. It’s also very crucial that you remember not to blame yourself, miscarriages do not happen because of something you have or have not done. Perhaps, it was just not the right time for you and destiny has something better in store for you. Medically we recommend 3-6 months before you start trying to conceive again but, a woman must take as much time as she needs emotionally to heal and recuperate.Asan obstetrician and gynaecologist I find it is fundamental to talk about and raise awareness about pregnancy loss. It is important for women to know that they are not alone and to educate others that there is no one to blame for a miscarriage. We try our best to talk and make clear to relatives not to focus on something a woman has done that resulted in a miscarriage or blame her for Miscarriagesit. have always been a part of nature, it is only now that technology has improved making it easier to detect. Pregnancy tests are also more accessible enabling women to determine if they are pregnant or not very early on, which leads to them recognising and coming to doctors with a miscarriage. It is thus important for us now to have and improve our conversations around miscarriages, un-shrouding this phenomenon from its harmful secrecy
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Miscarriage is when an embryo or fetus dies before the 20th week of pregnancy. This usually happens early in your pregnancy with 8 out of 10 miscarriages happening in the first trimester i.e the first 12 weeks of a pregnancy. The most common signs of a miscarriage are bleeding and cramping. Although not all miscarriages are physically agonizing, a majority of women experience cramps. For some people, the cramps are quite severe, while for others, they are mild (like a period or less). Vaginal bleeding is also typical, as are huge blood clots up to the size of a lemon. Sometimes there are no signs or symptoms of a miscarriage, and you don’t find out until you have an ultrasound or no longer feel pregnant. Depending on how far along you are in your pregnancy, doctors diagnose which type of miscarriage you are facing. A threatened miscarriage is one where there is some bleeding and/or pain but the cervix remains closed, and the baby’s heartbeat is present. In such a scenario the fetus stays safe but there is a threat of an impending miscarriage. Doctors usually do an ultrasound to confirm and then put you on progesterone, which is considered as the glue that holds a pregnancy together.
The writer is an obstetrician and gynaecologist at Gracias Maternity Hospital,Margao. Email: emanuelgraciasmd@gmail.com
Ahush-hush topic from time in memorial, miscarriage has been a taboo word probably since it was first uttered. We have come a long way since then with celebrities like Michelle Obama, Chrissy Tiegen and Meghan Markle opening up about their miscarriage stories, in turn upending the myth that miscarriages are rare. According to studies, 44 women lose a pregnancy every minute; that is about 23 million miscarriages every year. This leads us to the simple conclusion that miscarriages are more common than we believe.
Miscarriage is when an embryo or fetus dies before the 20th week of pregnancy. This usually happens early in your pregnancy with 8 out of 10 miscarriages happening in the first trimester i.e the first 12 weeks of a pregnancy
5. Which industrialist is the Chairman of the Indian Institute of 6.Management,Ahmedabad?Whichedibleproduct’sname is derived from Latin for 'twice cooked'?
9. The person in the picture created a mega business brand in south India in 1788 158 Answers to BG Quiz 157: 1.C K Prahalad 2.Vedantu 3.Atul Kasbekar 4.Financial Times 5.Suzy Welch 6. Tim Berners-Lee 7.Mozilla 8.Tik Tok
Karan Bajaj, a technology entrepreneur and author, has been appointed as special advisor on strategic initiatives to the Chief Minister. Bajaj was a founder and CEO of WhiteHat Jr, an edtech company specialising in distance learning, which was later acquired by BYJU’S in 2020 for `2,100 crore, in the fastest startup exit of its size in India. A graduate of IIM-Bangalore, Bajaj served as the general manager and head of Discovery Inc. South Asia. He also held leadership positions for P&G, BCG and Kraft Foods Group in India and the United States. He has written novels like Keep off the Grass (2008), Johnny Gone Down (2010), The Seeker (2015), and The Yoga of Max’s Discontent (2016)
9.Harvard Business School 10.Miuccia Prada Email your answers to businessgoa.media@gmail.com First all correct entry will get 1 year’s subscription to Business Goa
7. Which heavy equipment major traces its origins to the 1925 merger of the Holt Manufacturing Company and C. L. Best Tractor Company?
2.company?Thisterm was first published in 2013, coined by venture capitalist Aileen Lee
NEWSMAKERS
8. What has all the Starbucks entities in Russia been re-branded as?
Top of the Table (TOT) is a unique form for the arena’s maximum success economic services professionals. The aim of every financial consultant is to reach this esteemed institution. Mahesh Pai has efficaciously certified for this esteemed organization and one of the few ones from Goa to attain this international popularity. “It takes a lot of dedication and willpower to reach such heights once again; that too, in the midst of such a volatile financial market,” says Pai.
Shekhar Divadkar will be installed as the new President of SKAL Goa. Divadkar has decades of experience in the tourism and hospitality industry having worked for the Taj Mahal Palace and Towers (Mumbai), Cidade de Goa, Sun Village and various other renowned resorts. He has been a member of SKAL Goa since 2007 and has successfully participated in various social programmes and interactions as a member of SKAL Goa. Divadkar has volunteered as a participant for the COVAXIN trials that were conducted in India. As President, Divadkar has big plans for SKAL Goa.
A member of this esteemed group can get right of entry to all global trainings, networking, conferences and development applications. From being an accounts assistant to becoming an award-winning business consultancy firm, Mahesh Pai owns one of Goa’s most sought after financial consultancy. An expert in the field of finance and business consultancy, Mahesh Pai has clients that include HNIs, NRIs, and blue-chip companies, with an expansive list of some of the top-notch HNI clients from various business sectors – entrepreneurs, builders, contractors, architects, doctors, CA, industrialists, and NRIs
business-goa 58 | BUSINESS GOA INDUSTRY DOSSIER | AUGUST 2022
Dr Priyanka Raikar has received an award from Larsen & Toubro Veterans Senior Citizens Group for Outstanding Work in the field of disabilities, organ donation and autism. Dr Priyanka obtained her Masters Degree in Occupational Therapy from University of Southern California, Los Angeles, USA which ranks first in the world in the field of occupational therapy. Her areas of super specialization are paediatrics and neurology. She was also senior consultant at Apollo Victor Hospital and Mothercare Hospital in Goa from 2012 to 2018. She has been the vertical chair for Gift An Organ, Yi CII for two consecutive years; and her mandate was to bring about awareness on organ donation
“I plan to keep up the tempo as has been set by present President Sk. Ernest Dias. I want to have more branding visibility for SKAL Goa, more activities as connected with CSR, conservation of environment, other social causes and causes concerning hospitality and travel. Along with this a proper documentation of SKAL Goa history following statutory obligations and giving our club a voice in India and the world, is what I aspire to do during my term,” he says with a flourish
1. In 2004, Interbrew and AmBev merged, to create which large brewing
4. In June 2008, which company sold its Jaguar and Land Rover Operations toTata Motors for $2.3 billion?
Dr. Priyanka Raikar receives award from Larsen & Toubro Veterans Sr Citizens Group
Karan Bajaj appointed special advisor to CM
Clarice Vaz releases new book ‘ROMALINA’ Clarice Vaz has penned a new book called Romalina: Good Bye Africa, Adeus Portugal, Namaste Goa! The book provides an insight into Goa’s history, culture and way of life through striking descriptions of old implements, utensils, furniture, architecture, and more. Romalina has a Portuguese, Dutch, Roman, and British connection, and also has stories of Goans from British colonies of East Africa, Karachi, Burma, and Aden. Romalina represents a Goan grandmother who lived a more holistic and sustainable life during a certain time. After writing the last word, Clarice felt the book was more like a memoir and named it Romalina after her grandmother. Clarice is a self trained contemporary abstract artist by calling. Having participated in several group exhibitions, she has also held three solo shows. Clarice is also involved in many social activities in her village, Saligao and in Goa. The book is currently available as a free PDF download. Printed copies will follow, and will be made available on pre-order basis
3. ABB, Atlas Copco and Ericsson are companies that took root in which European country?
Shekhar Divadkar to take over as new President of SKAL Goa
Mahesh Pai qualifies for ‘Top of the Table 2023’
