Business Goa December 2021 by Business Goa

DECEMBER 2021

VOL 7 ISSUE 12 PANAJI GOA

GOA’S ONLY BUSINESS MAGAZINE

RNI No.: GOAENG/2015/59955

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

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INDUSTRY DOSSIER

th ISSUE

Marketing Mantras IDEAS TO CASH IN ON PENT-UP DEMAND

SANTOSH KENKRE LEADING IACC-GOA

NITISH RAIKAR CEO of KILOWOTT

DENZIL XAVIER

25 YEARS in REALTY

NEWS VIEWS ARTICLES INTERVIEWS PROFILES FOCUS ANALYSIS OPINIONS EVENTS FEATURES

CONTENTS

Cover Story 12

Entrepreneurs and retailers shed light on various ways to market their wares in light of the pent-up demand, this festive season

Focus Goa / Tourism 16

With the new covid variant Omicron on the horizon, the government needs to take adequate steps so as to ensure a smooth tourism season, while protecting the locals at the same time

Focus Goa / Startups 18

Startup Promotion Cell (SPC), Government of Goa and CII Goa organised a virtual startup conference and exhibition on ‘Enhancing the Start-up Eco-system in Goa’

Enterprise 22 18

Fionna Pereira highlights her journey from working in the aviation industry to setting up her own business

Goan Brand 24

Ria Patil Chandray speaks about her brand of sanitary napkins, Josa, which ensures that women have access to comfort with care

Interview 26 58

Business Goa catches up with Santosh Kenkre, President of the Indo American Chamber of Commerce (IACC) Goa, on his plans as President of this vibrant organisation in Goa

Real Estate 28

Denzil Xavier, who completes 25 years as one of Goa’s leading realtors, shares his entrepreneurial journey

Professional Dossier 34 36

Architect Manguesh R Prabhugaonker speaks about his professional milestones as an architect and landscape planner

Lady Power 36

The awe-inspiring story of Shalini Sitaraman Menezes and her quest to bring a treasure trove of opportunities and knowledge via intellectual property rights

Bon Appétit 52 22

Fly Dining, an adventure dining experience in the sky by Vindev Adventure Hospitality, announces launch at Grand Hyatt Goa

42 Corporate Citizen

COLUMNS

Daniel Albuquerque sets out to assess his views expressed about the rural alternative dispute resolution

44 Cabbages and Queen

Nandini Vaidyanathan speaks on the afterhours business communications in India and the reasons behind them

46 Invest Right

Mahesh Pai explains the concept of debt and ways of getting out of debt traps

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48 Wise Words

CA Santosh Kenkre explains the losses that a manufacturer faces, and ways of identifying them

50 National Focus

Secretary, Government of India, Atul Chaturvedi speaks on the monetization of the Indian Railways and why it will be beneficial in the long term

06 Editorial 08 Corpo Scan 20 New Biz 30 Technology 32 Campus 32 BookShelf 33 Accolades 38 Biz Bytes 40 Management 54 Goa Buzz 58 Newsmakers 58 BG Quiz

Shree Mahalakshmi Damodar Prasanna

EDITORIAL

DECEMBER 2021 Publisher & Editor Harshvardhan Bhatkuly Group Director Urvija Bhatkuly Business Head Annalise Gouveia Chief Reporter Sybil Rodrigues Accounts & Admin Ashok Kolvekar Circulation Mayur Santineskar Contributors in this Issue Atul Chaturvedi Daniel Albuquerque Dr Joe D’Souza Mahesh Pai Marilyn D’Souza Nandini Vaidyanathan Dr Pradeep Salgaonkar CA Santosh Kenkre Sweta Sharma PRESENTED BY

Editorial, Advertising & Administrative Office

Business Goa

409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 0832-2437822 Email: businessgoa.media@gmail.com Unsolicited material may not be returned. The opinions in columns and other stories expressed in Business Goa Industry Dossier are not necessarily that of the publishers and the Publisher/Editor shall not be held liable for any inaccuracy or otherwise. While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.

Prioritise Industry

Harshvardhan Bhatkuly

As this Legislative Assembly’s term comes to a close and elections for a new government stare us in the eye, Goans are inundated with promises, all in the form of sops and freebies. One wonders if in the guise of social justice, we are incentivising freeloaders, just to corner votes. Covid has impaired businesses and rendered many entrepreneurs hapless. During the rage of the pandemic, the powers-that-are made several promises that were undelivered, not even for tokenism. Moreover, municipal authorities and other local bodies levied interest and late fees on shopkeepers, who could not pay their dues on time, which itself was due to financial constraints. The government is shouting from the rooftops about Rs. 1500 odd crores that have directly or indirectly benefitted the Goan populace, but Goan industry has been barely touched by the benevolence of this state largesse. In actuality, the state machinery cajoled, and often arm-twisted, industry organisations into contributing to create infrastructure to combat covid. Goan industry was promised a lollypop in the form of the Investment Promotion and Facilitation Board (IPB). In September 2013, we did a cover story on this magic-wandinstitution that was to create 50000 jobs and bring investment of Rs. 25000 crores into the state. But then, we all know that electoral promises are often far away from reality. If one looks back and analyses the promises to industry and their delivery, one can safely assume that the establishment only needs the business community to create jobs and dole out funds when calamity strikes. The pitiful fund allocation to industry, in budget after budget, clearly demonstrates state apathy.

Sunrise sectors like information technology, education and knowledge have been totally ignored. When some of them perform despite lack of state support, the government is quick to share the accolades. It would be unfair if this diatribe is directed at the government alone. A large part of the problem lies with the kind of people who advise the decision makers. Vested interests and insecurity have scuttled the dreams, aspirations and expectations of local entrepreneurs. Schemes and policy intended for industry welfare have been kept away from the needy, because the cronies of decision makers do not see personal benefit in rolling out ideal schemes for the benefit of industry. What is worse is that all these Johnnycome-lately political parties are also making freebie promises without focussing on a sustainable plan to augment Goa’s industrial imprint, attract fresh investment and create policy that can remove conflict between industry and civil society. The industry is grappling with existential issues and a leadership void to steer it in this storm – all problems, economic and physical, seem to have descended at once. It is impractical to expect that the industry be unhesitant in its demands with the political outfits, because no matter who assumes power in 2022, they will not be acted upon. Worse, it is the curse of industry bodies to mollycoddle the establishment, however ineffective it is. This is the third assembly election that this magazine has seen in its journey, and we have gone through the motions of hope, patience, despair and awakening. Industry is the principal vehicle of job creation and boosting local economy. All law and policy makers should prioritise its needs and demands

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

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CORPO SCAN

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CENTRE PLANS TO PROMOTE TOURISM IN GOA

G Kishan Reddy

G Kishan Reddy, Union Minister of Tourism and Culture, unveiled a number of tourism and cultural projects in Goa. Reddy informed of the Centre’s plans to provide more funds and infrastructural support in order to enhance Goa’s tourism potential and bring the State’s tourism sector on par with other international destinations. He said that the Centre will give greater attention to Goa and that there will be new initiatives and inaugurations in co-ordination with the State Government, Goa Tourism

Development Corporation, and Goa Tourism. Reddy further said that the Central government is poised to develop 75 tourism destinations in the country to international standards. These 75 destinations are being developed as part of the ICON project conceptualised to mark the 75th year of India’s independence. In order to promote India as an international tourism destination, tourist officers have been appointed in 20 embassies to promote, brand and market India as a tourism destination. The emergence of a new covid-19 variant, Omicron, has upset plans for resumption of international air travel while the tour operators and various countries have introduced new restrictions. However, the Minister said that he is confident that Goa’s tourism sector will thrive once again after the pandemic subsides

Need to tap marine mineral resources: Jitendra Singh

Jitendra Singh

Jitendra Singh, Union Minister of Science and Technology and Earth Sciences, highlighted the role that blue economy will play in India’s future economy. In Goa for the India International Science Festival (IISF), Singh emphasised the need to speed up the exploration of marine minerals from coastal and ocean sources. Singh said, “India’s blue economy is understood as a subset of the national economy comprising an entire ocean resource system and human-made economic infrastructure in marine, maritime, and onshore

coastal zones within the country’s legal jurisdiction. It aids the production of goods and services that have clear linkages with economic growth, environmental sustainability, and national security.” He further stated that efforts are being made for the development of suitable technologies for effective mining of deep sea mineral resources and exploitation of gas hydrate resources. This can be aided by the National Institute of Oceanography (NIO) which operates two research vessels equipped for multi-disciplinary oceanographic observations and the National Centre for Polar and Ocean Research (NCPOR) that has the mandate of exploration of gas hydrate occurrences within the exclusive economic zones as along with the multi-metal hydrothermal mineralisation in the Indian ridge area

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SIT finishes preliminary report of over half the mining leases

The Special Investigation Cell (SIT) investigating the alleged `35,000-crore mining scam in Goa has completed an initial report of over 50% of the mining leases. The report consists of verification of documents of mining leases, whom the leases were allotted to and who was operating them, and whether valid environment clearances were obtained in addition to scrutinising documents submitted by the Mines Department regarding environment clearances, dump-handling and fresh extractions. As part of its investigation, the investigating team had sought answers from the Mines Department to 19 questions pertaining to leases that were operational from 2007 to 2012.

Based on this report, a final decision relating to the investigation will be taken by the SIT and the police will be expected to take necessary actions. The SIT had filed 16 FIRs in the alleged illegal mining case, of which eight have been charge sheeted, three have been closed, and three have been transferred to the police stations concerned

GOA TOURISM BOARD FORMED

The constitution of the Goa Tourism Board (GTB) led to the dissolution of the state level promotion and marketing committee, the high powered monitoring committee and the state-level permission committee. All permissions and important decisions relating to Goa as a tourist destination will henceforth be taken by the GTB which constitutes of 19 members, thus leading the way for the implementation of the tourism master plan. An industry observer stated that although the state level permission committee was formed to facilitate the processing of applications pertaining to major events, approvals often took months to obtain. The GTB has been vested with powers to facilitate clearances, lay down guidelines, procedures, and standards for organising events as well as accord approval for major and minor events. It shall constitute subcommittees to accord

permissions for tourismrelated events such as music shows, music festivals, concerts, night bazaars, beach weddings, tourism exhibitions, meetings, incentives, conventions, and exhibitions (MICE) as well as tourism events across Goa. Currently organisers have to approach various authorities to seek permissions even after the Tourism Department has given its approval for a particular event. The GTB has the Chief Minister as the chairperson and the Tourism Minister as the co-chairperson. Besides, officials of the Tourism Ministry and industry representatives, it will also comprise four subject matter experts and an environment expert, having at least 10 years of experience in environmental science and sustainable development. Goa Tourism Board will meet every three months and will lay down rules regulating its own procedures www.businessgoa.in

EP KAMAT GROUP Contributing to a Clean, Green & Safe Planet

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Goa’s GST collection for November increases by 63% The gross GST revenue collected in Goa for November 2021 went up by 63% as compared to October, also surpassing November 2020 GST collections, thanks to festive shopping and revenge tourism. The total includes CGST, SGST and IGST with Goa getting only the SGST component. The growth in Goa’s gross GST earnings beat the national figures where GST revenues were 25%

higher than the GST revenues in the same month, last year. GST officials stated that these collections have crossed precovid levels and confirmed that the State’s economy is on

its way to recovery. The recent trend of high GST collections has come about as a result of various policy and administrative measures that have been taken in the past to improve compliance. Central tax enforcement agencies, along with their State counterparts, have detected tax evasion cases and have also forced reluctant GST tax payers to file their returns on time

Goan food GOVERNMENT TO RESUME MINING becomes WITH AUCTIONING PROCESS philatelic material The State government is firm on auctioning of mines and the required steps have been taken in this regard. Chief Minister Pramod Sawant stated “We are going for auction of mines. Government is firm on this. We are going ahead. The rules have been sent to the law department and steps which are required to be taken have been taken.” He had announced that before 15 December, six to eight mining blocks in the

The Goan Postal Division released a special cover and special cancellation on Myndoli banana, Harmal chilli and Goan khajjem, making these much loved food items that are native to Goa, a part of philately. These items were recently accorded the Geographical Indication (GI) tag. The Moira bananaor Myndoli kellim in Konkani, is named because it is believed to have first been introduced

in the village of Moira, Bardez by Franciscan priests. Harmal chilli is from Pernem, specifically the coastal village of Arambol. The chillies were introduced to Goa by the Portuguese, and many varieties are grown locally. The khajjem (kaddio boddio) are a staple at church feasts and the village festivals in Goa. The Goa Postal Division also released, digitally, the permanent pictorial cancellation on the Margao head post office at the hands of Postmaster General of Goa, SFH Rizvi. A special cover and special cancellation on the Voice of Liberation, a philatelic passport on the temples of Goa and postcards on three Post-Crossing Meetup were also released at the function. The releases will be available at the Panaji Head Post Office’s philatelic bureau

10 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

Pramod Sawant

State would be auctioned. The process would be executed through the recently formed Goa Mining Development Corporation

3000 e-bikes, 300 e-cars eligible for EV Mobility Promo Policy

The Goa Electric Mobility Promotion Policy 2021 will provide incentives to only those e-auto rickshaws with advanced batteries listed as eligible under the FAME India Phase II Scheme. To promote e-autos, the policy offers interest subvention incentive on loans for purchase of an e-auto through implementation partner (CESL). E-autos get a maximum subsidy of `60,000 per kwh, while the maximum incentive to a four-wheeler is ` three lakh and two-wheeler `30,000. The policy says that the first 50 auto rickshaw owners who opt for e-autos will be eligible for incentives. The early bird incentive for electric two-wheeler and four-wheeler is 3000 vehicles and 300 vehicles respectively

VEDANTA ACQUIRES NICOMET

Vedanta Ltd announced the acquisition of Nicomet, a nickel and cobalt manufacturing unit based in the Cuncolim Industrial Estate. Nicomet is a producer of battery grade nickel sulphate crystals, which are used for manufacturing of batteries of electric vehicles globally. The company’s plant capacity is 7.5 kilo-tonnes per annum (KTPA) nickel and cobalt. It is a major generator of hazardous waste in the State and has its own captive landfill site at the industrial estate. Vedanta said that post the acquisition, the company has become the sole producer of nickel in India. Chairman of Vedanta Anil Agarwal said, “Nickel and cobalt are metals of great strategic importance, especially for our transition towards clean energy and electric mobility. Currently, India imports 100 per cent of its nickel requirements. Our focus will be to boost domestic production that would fuel India’s transition to a net zero economy.” He said the acquisition will play a critical role in supporting the government’s mission for Aatmanirbhar Bharat. Nickel, a strategic mineral, is a vital input in the manufacturing of stainless steel and batteries for electric vehicles (EVs), while cobalt is a key element of lithiumion batteries for EVs, energy storage systems and has other uses like super alloy for steelmaking. Vedanta expects the Nicomet acquisition to strengthen its portfolio of iron and steel business. The mineral resource conglomerate’s presence in the State is presently in the form of a pig iron plant at Amona, a beneficiation plant and iron ore mining, which has been closed presently due to a Supreme Court order

COVER STORY

Marketing Mantras IDEAS TO CASH IN ON PENT-UP DEMAND

DR PRADEEP SALGAONKER writes on the various aspects to deal with the pent-up market demand; while entrepreneurs and retailers shed light on various ways to sell their wares in light of the pent-up demand, this festive season

ith Christmas and New Year round the corner, majority of the people are busy shopping for their New Year attire and look. This is catalysed by the agony of losing out on opportunities to celebrate the previous Christmas and New Year with full fun and

frolic owing to the prevailing pandemic situation. And thus nobody wants to miss out on the opportunity now, to celebrate with family and friends in order to show off their latest fashion and style. This has automatically created pent-up demand for all categories of consumer products bringing cheer to

12 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

retailers and other businesses. People with surplus money in hand and lost opportunities to spend on discretionary products are eager to spend a few thousands without thinking twice. However, though this heightened demand is a good sign for businesses, it is an equally tall challenge

to meet and keep up to the expectations and needs of customers. Retailers need to take few actions proactively not to miss out on this opportunity. Here are a few things that retailers and businesses can do to satisfactorily meet the market demand and expectations in this time:

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1 Refreshing Merchandise Providing fresh and renewed merchandise suiting to customers’ renewed personalities would mean that a store understands their customers and lives up to their expectations. A conscious movement from mass customisation and catering to the masses, to individual customisation and meeting individual customer needs is the order of the day. Any retailer that strives to achieve this would be more preferred over the other store. A fresh look of the store with refreshing merchandise is always

BLAISE COSTABIR

Managing Director, GMI Zarhak Moulders P. Ltd.

“When it comes to the old stock, I often give them as gifts to my regular clients. Usually, after the festive season, I put up the old stocks on sale where we offer big discounts; and some, we give away to charity, after cutting off the labels, especially during Christmas time. We always give our regular customers first preference when it comes to their orders and customising outfits for them”

welcomed by customers and this automatically leads to increased footfalls to such stores. Holding and displaying the same old merchandise, because it did not sell in the last one or two years, would put off customers, as no customer likes to see the same merchandise being displayed over a long period of time. Better sell off such merchandise separately, even at loss, by offering discounted rates or ‘one plus one free’ type of promotional schemes and make space for new products on your shelves

“The stock in store depends on availability, lead times, cost of ordering, MOQ. One may keep 6 months stock of Class C items, to avoid hassle of reordering every now and again. For an expensive item, one may keep a 1 months stock, assuming lead time is say a week and the product is easily available. These days, given logistics issues especially for imported products one has to think carefully, as normal process are failing”

PHILU MARTINS Fashion Designer

2 Optimum Inventory Stock adequately with wide range of choices. Ensuring optimum inventory is a herculean task for a business; however it becomes mandatory to do this exercise for survival. Too much inventory would increase the costs, while on the flipside, stocking less variety and quantity would result in a lost sales opportunity. Similarly, while stocking products, the length, breadth and depth of merchandise mix and the number of each item to be held, has to be considered with due seriousness. Many times, sales are lost because of

non-availability of customers’ preferred choice of item, such as the size, colour, fitting etc., and this should be avoided at all times. Thus, carrying optimum inventory or making an item available (if not in stock) as early as possible would make customers stay with you. Striking the balance and maintaining optimum stock levels for your business is by no means an easy task. In fact, it can take a long time to perfect your stock levels. Learn the art of how much you need to stock and eliminate Out of Stock issues for good

PRAKASH PEREIRA

“At Delfino’s we ensure that at every counter there is a slip placed to ask every customer to write down their requirements, if it is not available on the shelves. Service availability and punctuality in delivery is the hallmark at Delfino’s. We give customers a sense of satisfaction to shop under a comfortable environment at the same price that is available in other stores and the municipal markets”

3 Customer Painpoints Customer pain points are a specific problem that customers or prospective customers of your business experience in the marketplace. They are essentially any problems that the customer may experience along their customer journey. Now, of course, these problems can be extremely diverse and identifying all of them may not be as easy as you initially think. Getting to the bottom of your customer pain points involves a degree of thinking outside the box and putting

yourself in the shoes of your customers. Listen and understand customers’ needs and hearts. Get to know their painpoints – what hurts them, what they are looking to overpower, what will make them feel being in control of the situation etc., and manage them to their satisfaction. Customers today want to exercise their power over the dealings they are getting into and letting them do so will be a wise strategy to manage customers satisfactorily

Director, Delfino’s Supermarket

DECEMBER 2021 | BUSINESS GOA INDUSTRY DOSSIER | 13

COVER STORY

@businessgoamagazine

4 Incentives Consumer incentives are rewards given out to the ‘customers of a business’ for brand-building purposes. An effective way to build customer loyalty and increase sales, consumer incentives can include reward points, cashback, store credits, branded sway, gift cards, bonuses with free purchases, etc. Use a push strategy by offering an incentive for customers to visit your store. Aim at increasing the footfalls and, if you have something to offer to them, then their very presence within the store would result in sales. Later, the

SWAPNIL KAMAT

Founder-CEO, Work Better Training

challenge would be to ensure increasing size of basket and building relationships. Giving incentives will incur some cost but the tradeoff from not having customers would be much beneficial. Offer irresistible incentives that would automatically stimulate people to walk into the store. Offering incentives to your customers is a chance to bring you closer to a oneto-one relationship with your customers. You can maximize this impact by taking the time to truly understand your buyers by asking for their feedback

“When a company genuinely cares for the well-being of their people and you truly put your employees first, it helps in giving your customers a great service. More than relying on certain tactics to make a sale, I feel that from a company’s core there needs to be a genuine feeling of care for one’s employees and putting them first. If that is done I think the customer gets taken care of very well”

“At Ulhas Jewellers, we believe in nurturing a long term relationship with our customers through trust and service. We have always dedicated our efforts towards building loyalty. But at times, it becomes essential to use short term push market strategies to boost sales, especially for certain occasions such as Dhanteras, Akshay tritiya or launch of a new jewellery collection” VIKRAM VERLEKAR

Director, Ulhas Jewellers Pvt Ltd

5 Employee Focus Reinforce the feeling of customer care and customer focus among employees. This is an on-going exercise and one needs to continuously reinforce the principles of customer focus among employees. The sensibility exhibited by the nerve ends – the employees – towards customers would ultimately determine customers’ behaviour and actions of purchase or walk out empty handed. Just like the fresh look of merchandise mix, have employees exhibit a fresh smile and care towards

6 O2O Customer

Optimise on the O2O (Online to Offline) customer journey. Persuade the movement from ‘Online search to Offline action’. Adopt the ‘phygital’ model of engaging with customers. In present times majority of the people adopt the ‘Hop On Hop Off ’ strategy for information search and purchase action. Meeting their demands by correctly providing everything they want to know about your business and products would influence them to shop with you. Being truthful and keeping promises made is need of the day. In an era

where online marketing is crucial to business success, it can be easy to forget to include offline marketing. However, this could prove to be a big mistake. Most modern-day marketers understand this. They know that customers switch between physical and digital worlds freely while they move through the buyer’s journey. This makes Onlineto-Offline marketing an effective way for businesses to reach customers at all touch points to drive engagement and sales. There are numerous ways to enhance the customer

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PAVAN AGNI

Founder-CEO, Buy Spex

experience by utilising digital technology on site to make shopping a more enjoyable

customers can foster long term relationships. And yes, help employees do this by meeting their needs and ensuring their happiness, too. When employees have this emotional commitment, then they are engaged employees who genuinely care about their work and their company. Engaged employees don’t focus on the paycheck alone; instead, they work to deliver the company’s goals because they want to see it succeed. When looking at how to engage employees and how to motivate your team, try to truly emphatise with them

“Today’s customers seek information as much from unknown credible reviewers than ‘word of mouth’ of known friends. A large part of the buy decision is made much before the footfall. Hence, creating an online social media presence with responsiveness is key to provide window shopping in today’s online world for offline offtake” time for consumers – and a more profitable campaign for marketers

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7 Target Individual Customer Mass customisation is moving out and individual customisation is gaining momentum in all spheres of business. Be it the product features, promotion or packaging, it makes a great deal of sense to customise it to individual customer. Exploit every opportunity to customise to individual needs. Even if the product remains same, try to offer customised

packaging wherever possible. Make the products get the feel of luxury in the true sense. And, don’t forget to deliver excellent customer service. Wherever possible customise the service offering by providing something that the customer really wants, but doesn’t tell. Understand the unstated needs of your customers and fulfil that, to entice them

“A proper ratio has to be maintained between content and the total dimensions of the signage so that the content doesn’t look tiny from a distance. The colours should be bright and attractive, or if the content has lighter colours then the base colour should be contrasting. Light effects also facilitate easy navigation for readers and potential customers” SHREEMI PANANDIKAR Director, Silverline World

“We target individual customers using traditional methods like newspapers advertisements and now social media being the most popular amongst customers. We constantly observe customers and try to develop insights into their pain points and establish a good process with the right checks and balances to ensure great customer service delivery” PRAVIN KAKODE

Founder-CEO, Upgrade

8 Effective Signage Make best use of the silent salesman ‘the signage’ both within the store and outside. Having bright, colourful, and attractive signage outside the store, that’s clearly visible from a distance, acts as a tall and strong force inviting customers into your store. Once inside the store, signage should do the job of providing all possible information, like directions,

product categories, discounts, schemes, pricing etc., without the presence of a real salesman. If a retailer implements these few actions seriously then nothing can stop the store from making brisk business. The pent-up demand is real; people are out on revenge spending and only serious businesses will make hay while the sun shines

DECEMBER 2021 | BUSINESS GOA INDUSTRY DOSSIER | 15

FOCUS GOA / TOURISM

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Omicron fear before Goa’s tourism industry

With the new covid variant Omicron on the horizon, the government needs to take adequate steps to ensure a smooth tourism season, while protecting the locals at the same time

By DR. JOE D’SOUZA

ndia in general and Goa particularly, have passed through adverse consequences of covid-19 over a year as a result of abrupt lockdowns and knee jerk reactions to the pandemic by both the governments at the centre and in the states of our country. Although on the face of it as we seem to assume that the corona nightmare is now over, we are faced with challenges with another variant of the virus termed as the ‘Omicron variant.’ Yes we have seen in Goa as in the rest of our country, the population suffering from the alpha, beta, gamma and the extremely virulent delta variant of the corona virus. Being a microbiologist, researcher in the field of zoonotic diseases, I have seen and isolated from diseased fishes, pathogenic bacteria in fish, prawns and shellfish. These bacteria cause infections of the alimentary or digestive human system. However, viruses are even hundred fold smaller than bacteria. The first viruses to be studied were the tobacco mosaic viruses, which infected the leaves of the tobacco plant and caused huge damage to the cigarette industry and resulted in the loss of livelihoods. Fortunately, the giant tobacco industry soon added hotel and tourism to the imperial tobacco manufacturing and thus the health hazard of the tobacco industry was suppressed and subdued by this basic transformation. But today, after the pandemic, the managements of hotels have yet another giant problem to sort out. The lockdown over months of closure have had grave economic effects. Just as we brush our teeth to ward off bio foulers in our

mouth, we have to clean pipes of air conditioners, too in a step-wise fashion. Today, voluminous literature and research is available on the morphology, biochemistry epidemiology and other aspects of plant and animal viruses including human diseases. The progress made in the field of viral oncology and human immunogenic response is itself voluminous but I will only stick to my essay on the specific issue of Omicron and its role on our society in Goa, which is an international tourist destination; and tourism being the backbone of our economy. Goa was an agrarian society for centuries; from 1970 onwards we switched to include mining and thereafter tourism as a sector for livelihood of the people of Goa. Of course, I do not wish to digress and waylay my readers by explaining of the scams and loot by vested interest groups, which led to the stoppage of mining by the Supreme Court. Tourism too is a fragile tertiary sector contributing to the economic growth of societies across the globe. As Goa has to survive economically, we have to have technically qualified scientists to be at the helm of affairs of administration of medical tourism exploitation. We cannot just stop and start charter tourism without our

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application of mind, as this would down scale our source of revenue and cause serious problems of inflation and commercial stability of food and essential commodities into our State. We cannot afford to shout that the tourism show must go on but do precious nothing to afford the tourists basic amenities and services. It is here I must emphasise that haphazard growth of tourism and political blindness of our governments that led to unscientific lockdowns, with labour force across the country running helterskelter over thousands of kilometers, which caused both economic as well as social distress. Thousands of workers in Goa’s casinos, hotels, and fisheries, commercial as well as factories and establishments are unorganised and porous to infectious diseases. In Goa, incidences of Legionella have impacted our hotel industry, high end tourists living in luxury hotels have forced closures of Goan hotels by claiming huge compensations as the cooling pipes and air conditioning systems faced microbial biofouling and infectivity by virulent micro-organisms. Only water engineers knowledgeable about sanitation and hygiene are aware of this serious malady adversely affecting the economy of the State of Goa.

Fortunately for Goa, we are a small state with adequate medical infrastructure built and stitched over four decades of labour which could be suited to promote medical tourism in our State, as our beaches are captivating and our environment salubrious. We need to monitor migrants and informed tourists attracted to Goa and to place standard operating procedures for ushering in tourism very judiciously. As Omicron is not as lethal as the delta variant of the virus, it does not kill the patient but the virus spreads fast, which could result in innate or acquired immunity to be developed amongst the locals, thus avoiding lockdowns. As of now we as citizens must keep our fingers crossed. We have a government which is totally insensitive to the problems adversely affecting the residents. The Captain of Ports, under the directions of Minister of Ports is building a huge terminal building at the Panjim jetty. This jetty was once used to transport passengers from Goa and Bombay by the iconic passenger liner, ‘Konkan Sevak.’ Today, the Tourism Department and Corporation of Tourism is making the jetty a hot-spot for the sale of abusive substance and focus for the virus as thousands are entertained by the daily cruises conducted from the Panjim jetty, including the feeder boats carting gamblers from the jetty to the off-shore casinos. The Christmas Season and New Year are upon us. If we do not want a repeat of the month of May, the Government should take utmost care and put strict measures in place so as to safeguard the locals and the tourists

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FOCUS GOA / STARTUPS

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Boosting the Startup Space in Goa

Startup Promotion Cell (SPC), Government of Goa and CII Goa organised a virtual startup conference and exhibition on ‘Enhancing the Start-up Eco-system in Goa’

Atul V Jadhav

tartup Promotion Cell, DoIT, Government of Goa and Confederation of Indian Industry (CII) Goa organised a virtual Startup Conference and Exhibition on the theme ‘Enhancing the Startup Eco-system in Goa’ over a virtual platform. With an aim of creating an enabling eco-system for the growth of startups and employment generation in Goa, CII is working holistically in evolving and developing the business environment in collaboration with the Government for startups to leverage corporate and investor partnerships. Speaking at the conference, Suresh Prabhu, six times Member of Parliament, stated that Goa is an ideal destination for promoting startups as this country is unique in creating the talent and skill to develop entrepreneurship amongst diverse cultures and people. The former Union Industries Minister believes that Goa should be the startup capital of India, going ahead due to the continuous development and creation of new ideas. With the immense support from the industry and government Prabhu stated that he was committed to extend all his support in leveraging the inherent benefits in further enhancing the eco-system for the growth of startups and

Swati Salgaocar

Suresh Prabhu

entrepreneurship. Atul V Jadhav, Chairman, CII Goa State Council stated that CII pays heed to this important fact; to create awareness and building an entrepreneurial environment, with an emphasis given to creating infrastructure for mentoring entrepreneurs/ startups. Keeping this in mind CII Western Region (Maharashtra, Gujarat, Goa and Madhya Pradesh) has formed the CII Startup and Innovation Task Force to address the issues of entrepreneurs and startups and bring together like minded people to aid and assist them in helping various startups to solve their issues and mentor them to excel. Various stakeholders such as the Government, corporate houses, educational institutions and others are and should join hands to build a better eco-system for our younger generation. Given this background, CII has been organising such events along with the state governments across states to accelerate economic growth through innovation, transformation, inclusion and governance, he mentioned. Kris Gopalakrishnan, Chairman, CII CIES; Cofounder, Infosys; Chairman of Axilor Ventures, stated that the current times are

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Kris Gopalakrishnan

very conducive for being an entrepreneur and that the regulatory bodies and startups need to converge more frequently through roundtable discussions to address and resolve policy related challenges. Gopalakrishnan also highlighted about the various initiatives of CIICentre of Excellence for innovation, entrepreneurship and startups in hand-holding and mentoring startups with the access to funding. Ankita Anand, IAS, Director, Department of Information Technology, Government of Goa and CEO, Startup Promotion Cell (SPC), in her address, mentioned about the various startup initiatives undertaken by the Government of Goa and the new startup policy which will bring in a conducive environment towards making Goa a favourable startup destination. Swati Salgaocar, Vice Chairperson, CII Goa State Council stated that to enable this corporate-startup cooperation to flourish, CII has taken some specific initiatives, including setting up of a dedicated centre of excellence for innovation, entrepreneurship and startups at Hyderabad, to create a platform to facilitate this engagement through a stakeholder engagement

Ankita Anand

framework and a host of services offered to startups. Further, the deliberations at the conference focused on building what the startups need to further grow and prosper and address the concerns with regards to the access to funding, resources, simpler regulations, and relaxation of existing laws. A special session was also virtually organised showcasing 19 Goa based startups and to pitch their business to potential investors, to increase brand recognition with an opportunity to network, interact and enhance business linkages. Also, a 15day virtual exhibition is also underway till 23 December 2021 to showcase 35 startups on the ICONN 2021 platform ranging from. Through panel discussions and success story sessions, this event brought in together key members from the state government, experienced investors, and industry experts to start an open dialogue to define challenges and start thinking about solutions to foster a robust entrepreneurship and innovation environment in the State. The day’s sessions saw eminent speakers sharing their thoughts on entrepreneurship, innovation, the startup industry partnerships, and early stage investing

NEW BIZ POTPOURRI

Flower Power

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Sandra Sousa Menon’s new venture, Potpourri, promises to spread happiness with its unique offerings of flowers and gifts for weddings and special moments

Fresh flowers along with containers on display

By SYBIL RODRIGUES

andra Sousa Menon, a wedding planner, started off more than two decades back by helping plan all the functions amongst her circle of friends. Deciding to put her creative energy to good use, she established Golden Aisle in 2005. Sandra has over 20 years of experience, designing a wide range of events for her discerning clientele, in India and abroad. She is one of the most respected and sought after wedding designers in Goa. Her clients rely on her to make their events memorable, unique, and personal. With experience to match her imagination, Sandra is the creative force behind Golden Aisle. Having planned a number of weddings over the years, Sandra noticed that there were very few places where one could choose really good flowers from, be it artificial or fresh flowers along with a host of other necessities required for wedding décor. Thus her little store, Potpourri, was set up with the idea of making quality flowers, fresh and artificial – available for themselves as well as the local market, the retailers, other wedding planners and everyone else looking for unique flowers to up the ante

Sandra Sousa Menon

at their celebrations. Sandra stocks imported flowers that are made out of silk and varied kinds of fabrics. These flowers are washable, reusable and can be used long after one’s celebrations are over and done with. There are also fresh flowers available which are purchased from the local farmers as well as those procured from Bangalore and Chennai. Her beautiful collection of Orchids comes from Bangalore, which are available in an assortment of colours. She stocks tulips, something that is never seen in Goa, which is imported from abroad, along with hydrangeas, brassica and

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different kinds of flowers that are not otherwise available in Goa. Consignments of Calla lilies are expected to add to the assortment of flowers available in the store. Sandra says that today’s brides want something rare to add to their décor and she wanted to give Goa a feel of having something different, for a change. Also available at the store are different kinds of paper that is used for gifting, along with plenty of gifting solutions. Sandra says that chocolates and wines are added to hampers and complimented with artificial flowers which make for an excellent keepsake, given that they can last for a very long

Artificial flowers made of different fabrics

time. Pampas grass, another rare kind of plant décor is also stocked here. If one wants to decorate their home with flowers and are not able to do so due to time constraints, Sandra offers a unique solution of going over to the clients home and setting up the flower arrangements, to compliment the clients home and even customizing décor to meet one’s expectations. Potpourri also has a home delivery service and is also into curating gift hampers which includes chocolates and flowers, cakes and flowers, depending on the client’s needs and budget. Sandra is relying on word of mouth to market the business and says that when someone recommends her to their friends, it is the best compliment that she can get. Having just opened shop, Sandra says that she would like to feel the market, while getting to know what people want and cater to their needs. She wants everyone who comes to her store to leave with a smile on their face whether they have a small budget or an unlimited one. “I am here to make everyone who walks in here smile and leave contented. This is a happy shop”, she concludes with a broad smile

ENTERPRISE

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FIFI’S

Pereira highlights her journey from working in the aviation industry to setting up her own business Baking with Love Fionna

Fionna Pereira

By MARILYN D’SOUZA

ionna Pereira’s journey blended perfectly well on a path filled with the twists and turns that gave various hues to make her life colourful and exciting. “My school life was full of happy moments, a time when I breezed through with my studies and had many friends whose company I enjoyed. I grew in knowledge, as much as I also did in the warmth of my friends and colleagues.” Fionna completed her schooling from Mary Immaculate Girl’s High School, Panjim and later graduated in microbiology and biochemistry from St. Xavier’s College, Mapusa. As an alumna, the subsequent stark question for her was like many other companions was ‘what next?’ She had to make a living as any other responsible adult and started to seriously think of what she could take up, to stand on her own feet. “I had graduated in Science but found no interest in pursuing anything along those lines. So I did the next best thing and that was to opt for what made me most happy – people!” She opted for aviation as she liked to interact with people. She worked for 20 years with Jet Airways, in sales and ticketing. Meeting people, helping them with their travel plans, gave her a lot of fulfillment in her job as she thoroughly enjoyed every bit of it. Later, she worked for two years with Singapore Airlines as a sales officer. “Working in sales gave me an

idea of the likes of the people and sometimes beyond job related conversations.” She used to listen to the interests of her clients and sometimes to their motivating success stories that gave meaning to their lives; and those stories lingered in her mind, too. Fionna always loved baking while trying out different things at home; and started baking at home during the covid period. She started giving samples to her friends and family and they encouraged her to start her baking journey. “The thought of starting on my own often came up in my mind and it did motivate me to further delve into it. I also needed to make a career move along the same time.” Since she was in sales in the aviation sector, the experience gave her enough confidence to deal with the clients in general. So the thought of opening her own little outlet called Market Corner, appealed to her vision. Although she wanted to do something of her own and was confident of it, at the same time she was quite nervous of the competition around her. “I said to myself, having a product of my own with my personal touch, would be my strength and my mark, to face the competition.” She mentions that she is not totally alien to business life and the challenges it can pose but her father believed in her.” My father Simon Pereira was a well-known businessman in Panjim. He

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always believed I could do it and he did motivate me to venture into business initially.” She acknowledges the taste of entrepreneurship that she got from her dad. Her mother Filomena Pereira encouraged her in following her passion. “She knew if I took up something I would pour my heart and soul into it. She encourages me to take up challenges and I do it with all my zeal.” Her husband Shelton Afonso goads her to chase her dreams. Fionna states that she always loved being in the kitchen and trying out new recipes. As baking was her hobby, she would spend her Sundays trying some new things with her oven. “I never imagined that I would prepare pastries like a pastry chef at a professional level and people would place orders to serve my products at their functions. Fifi’s is my own brand, where I bake irresistible brownies.” She has been baking different types of brownies (fudgy brownies, walnut brownies, cream cheese brownies, nutella brownies) and a brownie cake as well. She has also been experimenting with dessert recipes, her tender coconut soufflé, caramel and serradurra among other desserts, which have been quite successful. Market Corner is her outlet in Panjim. “It has all my ‘Fifi’s’ products besides having other savouries and complementary products that one may need for their occasions. When anyone

bites into a brownie from Fifi’s and exclaims in delight at its taste, it gives me more satisfaction than I can describe, as Fifi’s is my brand and the brownies are my creations! That’s what I want – to see my clients satisfied.” She tries to put in her own special touch and respond to the clientele’s demands according to the festive seasons. During christmas season, she specialises in different types of hampers and décor. “Last year, I had an overwhelming demand from people for the hampers and I did exceedingly well in that segment, including getting corporate orders.” The seasonal sales and words of appreciation from corporates, individuals and her friends, resulted in customers coming back again for more. “I was very happy with the feedback I received from my clients. It is very encouraging.” Every day is a new experience for Fionna. Her desire to excel, create and learn surpasses her fear. “Every challenge I am faced with now, becomes a greater experience of learning what I am truly capable of. If you feel you are ready to start your own business, first learn to value yourself, believe in your potential and always desire to achieve. Never quit, face challenges and persevere.” Fionna feels that to be an entrepreneur is to look to what fuels your passion and purpose in life and do whatever it takes to make it happen

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JOSA

Safety with Care L

Ria Patil Chandray speaks about her brand Josa, which ensures that women have access to comfort with care

By SWETA SHARMA

ocated in the Thivim Industrial Estate, Gia Industries is a local venture that manufactures highquality bio-degradable sanitary napkins in Goa. A brainchild of Ria Patil Chandray, Josa, a brand name derived from the Sanskrit josha which stands for ‘woman,’ is a brand that seeks to provide comfortable, hygienic, environmentfriendly, and affordable sanitary pads to the ladies of India. The founder, Ria, is an electronics engineer and holds a Masters degree in computer management from Pune University. Having worked in the corporate sector for well over 14 years, she has dedicated her time and efforts into promoting women’s welfare in the country. Not only is she involved with various self-help-groups and social welfare clubs, Ria has also taken the initiative to create awareness about safe hygiene practices among women of all ages. A lady who loves doing things for the community, Ria was appointed ambassador for the Nirmal Raksha Abhiyan in 2018 by Menaka Gandhi (Member of Parliament, Government of India). She was later approached by a multitude of companies who wanted her to promote their ‘bio-degradable’ sanitary products. Being a person with a technical background, Ria discovered that the resources used by these companies who to manufac ture their sanitary pads were nonbiodegradable. The pads were mainly made of synthetic materials with a polyropelene

Ria Patil Chandray

(PP) top-sheet. These synthetic sanitary pads can cause infertility and a variety of other health problems for women. If not replaced regularly, they can lead to rashes, allergies, and infections. Their synthetic linings can result in the increased risk of exposure to a number of microorganisms that can enter the blood stream and cause septic shock. The environmental threat due to their non-biodegradable nature is equally alarming. Besides this, a majority of women in India use rags and cotton cloths to make a home-made pad that takes care of their sanitation needs during periods. It is an inexpensive and easy solution as these pads can be washed

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and reused again. However, what the women are unaware of is that these rags can cause cervical cancer and other gynaecological problems. In some cases, the infection caused due to this unsanitary practice can lead to death. Women of all ages are forced to make this choice as they do not have any other options or the money to afford sanitary napkins. It was after this revelation that Ria got the idea of setting up a factory that not only produced biodegradable and affordable sanitary napkins, but also provided employment to the rural women of Goa. Setting up and getting the factory running wasn’t easy. When asked about the toughest part of the whole endeavour, Ria says that it was

the manufacturing process. The machines that were used to make the sanitary napkins required skilled labour and constant monitoring due to its hygienic nature. Overall, it took Ria approximately six months to get the product from “A to A++,” that is, to absolute perfection. Ria is self-involved with Josa in every step of the way, whether it be the production or the marketing of the product. She maintains a one to one contact with most of her customers. The product is further improved according to their suggestions and feedback. In essence, Josa has a personal touch that is rarely found anywhere in the market. Josa’s unique selling point is the organic and biodegradable nature of the sanitary pads, which is a rare occurrence in India. It helps keep Ria ahead of her competitors in the market whose sanitary napkins are mostly made of synthetic materials and other products which are supposedly biodegradable. In contrast, Josa is a 100% bio-degradable and organic sanitary product. In addition to this, the company also keeps in mind the customer’s requirement for a soft-feel, extra-absorbent, norash, chemical-free, sanitary product which keeps it one step ahead of its competitors. ‘Persistence, patience, and progress’ is the mantra on which Josa was founded. These three principles along with family support, self-motivation, a zeal for protecting the environment and inculcating responsible hygiene practices in women, were what has led to the success of this enterprise www.businessgoa.in

INTERVIEW

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SANTOSH KENKRE

“We are looking to promote businesses and explore synergies between India and USA”

Santosh Kenkre is the President of the Indo American Chamber of Commerce (IACC) Goa, which was established in October 2020. This chapter was launched with the aim to synergise business activities between Goa and USA in a bid to boost Goa’s economy. Business Goa catches up with Santosh Kenkre to learn about his plans as President of this vibrant organisation What are the goals, aims and objectives of the Indo American Chamber of Commerce (IACC)? The Indo American Chamber of Commerce (IACC) was established in India in the year 1968. IACC strives to lobby with the two governments on significant bilateral issues affecting Indo-US commerce. The Goa chapter of IACC was inaugurated by Chief Minister Dr Pramod Sawant in October 2020. The major objectives of the IACC is to promote bilateral business, investments, technology transfers, outsourcing, joint ventures, collaborations and marketing tie-ups between India and USA . The IACC also arranges meetings of its members with visiting executives of USA companies and USA government officials. What are the programmes that have been conducted by the IACC Goa, since its inception? In the last one year, IACC Goa had organised a major meeting of industry captains relating to ease of doing business (EODB) by engaging top consultants from Mumbai after which, we presented a 40-page document to the Government of Goa to work upon. Who are the core members of your team and what strengths do they bring to the table? At IACC Goa, we have a team of young but experienced businessmen and professionals who are raring to do something good for Goa. We have already formed 20 committees and appointed chairpersons for each of them, covering various sectors of the Goan economy. I am sure

Santosh Kenkre

that these leaders will do significant work in the areas that they have been assigned to. Our Vice Chairman Elliot Menezes (Menezes Fishnet Industry Pvt Ltd.) and second Vice Chairman is Shekhar Sardesai (Kineco Group), both established businessmen, who have made a mark for themselves in their respective fields. Pravin Kakode, who is the Chairman of the EODB (Ease of Doing Business) committee, is in the process of getting inputs about EODB from over 300 businessmen. Thereafter the report will be compiled and will be and presented to the Government, which we hope will be implemented by our policy makers. What are the focus areas during your tenure? We have recently formed a

26 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

“We have recently formed a panel of mentors comprising of experienced businessmen and professionals, new as well as established, to guide and advice business people, on a pro-bono basis. This is a unique experiment which can make Goan businesses more competitive and also encourage new and upcoming businesses. Shortly, we will be commencing a short course on ‘How to become an exporter’ by engaging top faculty people from across India. We propose to publicize and thereby give visibility to Goan products and services, not only in India but also in USA” panel of mentors comprising

of experienced businessmen and professionals, new as well as established, to guide and advice business people, on a pro-bono basis. This is a unique experiment which can make Goan businesses more competitive and also encourage new and upcoming businesses. Shortly, we will be commencing a short course on ‘How to become an exporter’ by engaging top faculty people from across India. We propose to publicise and thereby give visibility to Goan products and services, not only in India but also in USA. We shall not replicate the efforts of top three trade bodies in Goa, in relation to routine matters of industry to be taken up with the government. These trade bodies namely GCCI, GSIA and CII, are doing wonderful work, so in fact, we propose to supplement their efforts in whatever way possible. How do you propose to go about building bridges with American companies in Goa? American companies who have presence in Goa are well established so they may not need our support, but in case they seek our assistance, we will be more than happy to share our inputs and collaborate with them. How do you think Goan businesses can work along with American companies with the support of IACC, Goa chapter? We propose to facilitate new industries in Goa and at IACC Goa, we hope to make a significant difference to the economy of Goa by collaboration with American companies present in the State

REAL ESTATE

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DENZIL XAVIER

Celebrating 25 years of Trust

Denzil Xavier, who completes 25 years as one of Goa’s leading realtors, shares his entrepreneurial journey By MARILYN D’SOUZA

enzil Xavier Real Estate Consultants is recognised as one of Goa’s leading real estate solutions providers. The firm was established in 1996. The real estate consultants provide their clients with total marketing solutions by furnishing advice in buying, selling and leasing of properties. Their focus has always been to develop long lasting relationships with their depth of experience in Goa’s real estate sector. “After completing 25 years in real estate, going forward, I feel there are a lot of challenges in this business. When I started out as a real estate consultant, nobody wanted to take a real estate brokerage business as a full-time profession and everybody shied away from it. But we made sure that through our work ethic, we brought in some reputation to the profession, as well.” The Real Estate Space When Denzil was in his final year of college, one of his close friend’s father mentioned to him that he wanted to sell a property. “He offered me a good fee. I was pretty excited regarding the prospects and I started looking out for buyers. My first clients were two high profile industrialists from Goa who I got to know through my father that they were looking out to buy property.” His first transaction didn’t go through, but it was a learning experience. More than the financial aspect of the business, Denzil was more drawn towards the opportunity it provided him to meet new people from different walks of life. This gave him a shot to be his own boss. “Initially when I started my business, I didn’t have an office. I started working from home and later got an office. From one staff

Denzil Xavier

member working with me, slowly the team has grown to five members, who also work in different geographic locations. People regularly call them to buy and sell properties in metros like Bangalore, Pune and Mumbai and also internationally in Dubai and Portugal. They have been trying to branch out pan-India through their good network of associates and create a global presence through strategic tie-ups. The Journey of a Realtor In the last 25 years, the consultancy has tried to walk the straight path of trust and transparency. The main foundation for our business is trust, we have to win the trust of customers and for that, integrity, transparency, good work ethics and being organised is important.

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“For me, it was never about the money, it was about the people I was meeting and the satisfaction I got to see my clients happy, that meant more than the monetary aspect. We always put our business practices over the idea of commerce, as we believe this is the reason that we kept on getting plenty of clients. My business grew through referrals and our reputation kept on bringing us more business.” As we move forward, having come to terms with the fact that how exactly the events would unfold and what their implications would be is anyone’s guess. The best we can do for now is adapt to changes, while on the roll. Embracing new technology and leveraging new opportunities will be the key.

Among their valued clients are some of Goa’s most influential high-net-worth individuals and corporate houses like Dempo Properties & Investment Pvt. Ltd., Tata Mutual Funds, V.M Salgaocar & Bro Pvt. Ltd., Ashok Leyland, Wendell Rodricks Design Studio, Colgate Oral Care, ICICI Bank Ltd., Syngenta Bio Sciences Ltd., Goa Marriott Resort, etc. “In real estate, your reputation, your years in business and your experience really counts. Clients look for somebody, who knows the subject, somebody who knows what he is doing and they look for the integrity aspect of the realtor. Clients want honest, reliable and well experienced persons in the business, and that’s how we have posted growth year on year.” An Organisation’s Man In 2009, Denzil was approached by the then President of the NAR (National Association of Realtors) Ravi Varma (Currently the Chairman), through a very renowned realtor in Goa. “It was high time that like-minded fellow individuals and firms got together to form an association where we could address our grievances, improve our skills, and have a lot of educational programs to upgrade ourselves”. In 2015, some of the realtors in Goa, got together to form an association and that is when everybody unanimously chose Denzil Xavier to be the Founder President and lead Goa Association of Realtors - GAR. “With the help of my fellow Council and founder members, we put everything in place – the processes, code of ethics; and got in all the collaborations, affiliation with the National Association of Realtors (NAR-INDIA) and started working with various trade bodies. Like every organisation in its nascent stage, the initial formative years of my term as Founder

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President were well spent in building a good name for the association,” he says. Denzil has also served as the Governing Body Member of NAR-INDIA 2016-18. He is currently serving as a member of the Real Estate & Housing Committee, Goa Chamber of Commerce & Industry (GCCI). “When Goa RERA (Real Estate Regulatory Authority) was being formulated, Denzil was part of the think tank and advisory process, especially when it came to the role of the Real Estate Agents. “We started pursuing the government to form the RERA in Goa soon after the Act came into force in 2016-17. That’s where we were involved, as RERA made sure that real estate agents who were part of the industry got recognised as important stakeholders. There were lot of issues which we all collectively tried to address and succeeded in our efforts to a large extent. Though there are still many teething issues that need deliberations”. Denzil Xavier Real Estate Consultants was awarded Business Goa’s ‘Real Estate Professional of the Year’ and the Goa State Brand Leadership Award, both in the year 2017; and also received recognition from the National Association of Realtors. Denzil is a proud Rotarian. He has been a member of the Rotary Club of Panaji Riviera since his induction in 2013. He is currently the Director, Vocational Service. He has served as Honorary Secretary 2017-18, Vice President 201920 and has held many other key positions at the Club. Challenges Faced “There have been incidents where people try to bypass certain rules or refuse to pay the professional fees after the transaction is done. This is the foremost challenge that we have faced in the past. Of late, our firm doesn’t have those problems because we are in this business for 25

Denzil Xavier receiving the ‘Real Estate Professional of the Year’ Award at the hands of Amit Bandekar at the NRB Group presents Business Goa Awards 2017

years. Today, after having reached a certain level, clients have realised the benefits that we bring to a real estate transaction. We save our clients hard earned money with the best and safe deals. We have also become wealth creators for our clients. But still, it is very difficult for an individual who is trying to get into a profession and is denied his rightful income. We need customers to be sincere in their dealings.” Denzil advises youngsters who want to get into the real estate consultancy or brokerage field, to concentrate on building up their skills, attract clients the right way and to learn the basics. “Marketing is a different ball game. You have various tools; try to get connected with an association in your area, be a part of it so that you can get your skills upgraded. Our Association (GAR) regularly hosts different programs to build skills. I would say the main foundation for your business has to be trust; you have to win the trust of the customer. For that, integrity, transparency, good work ethics and being organised is key.” “When we started 25 years back, people were very skeptical about why one needs to deal with a real estate consultant and pay their fees, when they can always go on their own and buy or sell properties. After few years, people realised the importance of real estate consultants, and sometimes the best deals that comes

from these professionals. Being in the industry, we have the experience and know every dos and the don’ts, the hows and the whys of the business and secondly, we save time. Most buyers are busy and do not have time to scout properties. That’s when we come into the picture, provide people with tailormade solutions and that’s how they benefit from it,” explains Denzil. People have realised that it is better to hire a professional consultant and pay their fees, rather than lose all their hard-earned money with unscrupulous touts. “There are a lot of individuals and firms, trying to get into this business. As the competition increases, there are fly-by-night operators as well. Some really want to make a mark and some want to make a quick buck. So do your due diligence. Check the credentials of your real estate consultant before you start dealing with them. Today, there are different ways of finding out about their background. If somebody is known in the market, you will definitely know about them.” Real Estate Market in Goa Goa is a very small state and everybody wants a little bit of Goa. Everyone who comes down to Goa ends up dreaming of owning a small little holiday home, be it a 1 BHK apartment to a luxury villa. The luxury segment in North Goa villa market and land prices have gone up considerably during the pandemic. The demand for

Goa is high and supply will always be limited. Which is a sign that real estate sector in Goa is very promising. “In my 25 years of business, I have seen lots of ups and downs, the Lehman Brothers crisis in 2008, for instance; and other challenges. But in Goa, the valuation of properties has never dropped. Sometimes I feel if our government can do something about lowering our high stamp duty, it will be a great relief to the people of Goa. It is already difficult to find accommodation for anything less than fifty lakhs in Goa. People are putting in their hard-earned money and then you have the stamp duty, registration charges and GST all put together which goes above 10% of the price of the flat. I feel that with the support of the government, the real estate industry can also flourish,” says Denzil, hoping to get his message heard by policy makers. From the very beginning, Denzil’s focus has been on customer satisfaction. They have strived to achieve perfection and do what is best in the interest of clients. “It is very heartening to know that many of our esteemed clients have been with us since our inception. We have come such a long way and having seen all the difficult as well as the exciting and rewarding times, I can honestly say that we, at Denzil Xavier Real Estate Consultants are more energised, more optimistic, about the opportunities and our plans than ever. On this momentous occasion, I would like to express our deepest gratitude and appreciation to all our clients for their business, your loyalty and your support during these past twenty five years.” Denzil Xavier Real Estate Consultants promise to continue serving their clients with the highest degree of commitment and loyalty and to put in their best efforts at all times

DECEMBER 2021 | BUSINESS GOA INDUSTRY DOSSIER | 29

TECHNOLOGY

business-goa

Promising Startups T

he proliferation of a startup economy has brought with it new business opportunities, innovation, tech-centric approaches and job creation, across sectors. While the flow of investments from traditional industries into tech-focused sectors has been instrumental for entrepreneurs, Goa’s own growing tech prowess has had an inspirational journey in the last few decades. The Goa Technology Association is the primary representative of IT companies present in Goa. Their members have

GTA lists out some upcoming startups that reach out to their customers by delivering high-quality services while making sure their operations run smoothly and strategically

a footprint spanning six continents, with an active presence in over 32 countries. GTA represents ESDM, Design, Research, BPOs and IOT companies. With their core focus being the creation of growth

FREETHINK LLP

HELIX TECH

Vinit Naik

Freethink is transforming the way organisations manage physical assets and infrastructure using the power of GIS, paperless workflows, and IoT. The pandemic has accelerated the move to digital platforms and consumers expect all their services to be available online. Mature brick and mortar organisations find it hardest to make the transition because they are fully dependent on a specific team of people working in close quarters. freethink provides turnkey solutions in business process reengineering and a migration plan to move the organisation into a paperless future. Migrating to a defined process model helps organisations become more

opportunities for their members through various initiatives, GTA has some of the best companies on their membership list. Startups are beginning to spread benefits beyond traditional locations into

regional economies. Startups are upending established business models and creating new markets. Across industries, startup companies threaten to disrupt established businesses and traditional channels. In so doing, they can act as catalysts for innovation and collaboration throughout India’s business ecosystems. These startups founded by some of Goa’s brightest young entrepreneurs, along with commitment to clients and a process driven approach to projects result in maximum client satisfaction

Amit Tamba

resilient against disaster scenarios and improves remote operations. Freethink has an excellent track record in helping some of the most prestigious organisations transform their businesses. From large government projects handling thousands of logins, to smaller but more specialised applications, Freethink has made a mark in every domain. Their clients in India and abroad appreciate the quality of work and continue to rest their faith in the long term support of the company. Their commitment to ecofriendly business processes have translated into reduction of paper usage equivalent to over 20,000 trees and corresponding savings to their clients of over `20 crore. The culture at Freethink is

30 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

An award-winning technology partner helping digitise enterprises in the healthcare, pharma and life sciences space, is how Helix describes itself. In 2013, when the Indian startup scene had just started gaining momentum and smartphones were picking up faster than ever, two new IT graduates started building mobile apps, making the most of this wave. Eight years since and they consulted close to 1000+ Apps for over 100 clients across six continents. Helix Tech’s goal is simple – amaze their clients by delivering high-quality software which runs smoothly, strategically and predictably. Today, Helix Tech is an award winning technology partner helping enterprises in the healthcare and life sciences space with next-generation digital initiatives. Voted as the ‘Company of the Year’ by CIO Review and has ranked among the top 30 companies to watch out for by Silicon Review. Helix Tech also runs a non-profit initiative called HT for STUDENTS, where their biggest asset and they protect it fiercely because they want monday mornings to be a pleasant reminder of the awesome week ahead!

Kunal Kerkar

they are dedicated to nurture and foster some of the brightest tech/business minds across the country, every year over summer. They have successfully conducted seven such programs including for students from prestigious institutes including NMIMS, GIM and BITS. As part of training and development, they also have Papercrunch, an edu-tech venture that aims to make engineering graduates in India more employable Merit is rewarded, innovation is celebrated, and the team is always ready to learn something new

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COPPERCODES

Chinmay Sanjiv Kamat

CopperCodes, founded by Chinmay Sanjiv Kamat and Rohan Ramrai Naik, in 2017, specialises in tailor-made software and app development as per client needs. On the product side of CopperCodes, they offer an android based digital signage solution called Ideogram Majorly meant for the hospitality sector to display visual directions and marketing materials which can be controlled remotely.

CODEMAX IT SOLUTIONS PVT. LTD

Rohan Ramrai Naik

Few of their clients include Vivanta Panjim, Vivanta Miramar, Taj Convention Centre, Dona Paula; and Heritage Village Resort, Cansaulim. CopperCodes also has a one stop nightlife ticketing app, ‘Folga’ which allows guests to view events and book tickets to any nightclub/nightlife venue. Currently it is limited only to Goa, but they intend to move to other cities across India, soon

XERVIZ WLOBAL Established in 2015, Xerviz Wlobal completes six years this month in providing excellent B2B solutions for exponential business growth. XervizWlobal is a one of its kind company in Goa that has clients spanning across the globe. Some of their prominent services include data research, data mining and data entry, lead generation, tele marketing, customer support and transcription. Under the leadership of Rohan Warty, Founder and Managing Director, the team aims to understand the unique requirements of each client and cater services that are best suited for their growth resulting in maximum client satisfaction. Domestic and international clients turn towards XervizWlobal for cost-effective work with quality resources. The current clientele hails from diverse industries. Extensive on-thejob training is given to fresh graduates hired, which groom

Nestinka Rebello

Mayur Virkar

Making an opening entry in the industry books in 2016 at its headquarters in Goa, CodeMax IT Solutions Pvt Ltd. became the first global fintech solutions provider in the region. Within a span of two years, the company accelerated to three times its team size, thus allowing it to seamlessly integrate security and legal compliances in customised deliverables. Operations include software development, quality assurance, server management, cyber security, financial tracking, legal compliance, and regulation protocols. B2B, B2C, and overseas financial transfers are some of the gateways that the company builds pipelines for. Solutions built are suitable

for merchant establishment, F o r e x , i ns t itut i on a l and retail banking, and other related service providers. All operations are handled t h r o u g h security protocols meeting the highest standards in the EU. Trust is a must in the financial domain; at CodeMax they value that above everything else. It is written in their code that commitment to clients, balanced with an empowered team and a process-driven approach to projects is a non-negotiable fundamental policy. With an existing client base in the EU, UK, USA, and the oceanic region and growing team strength, CodeMax aspires to spread out where they find the best talent and resources. They plan on expanding their presence across other cities and countries with a stronghold in the IT market, contributing in every bit to technology advancement

INVENTROM

Pranav Kundaikar

Rohan Warty

them to become a valuable part of the workforce. Amongst the many accolades achieved for its leadership and functioning, XervizWlobal has been titled ‘Vibrant Startup of the year’ by Start-Up City magazine and featured in ‘10 Most Promising Goa Start-ups 2019’ in Silicon India magazine

Pranav Pai Vernekar

Inventrom is the maker of the Bolt IoT platform that helps developers and enterprises build projects and products quickly and easily. Bolt has users across 62 countries with more than 35,000 units of the hardware module shipped to date. One of the most popular industrial products of Bolt IoT is the Blake (Environmental Monitoring Solution), which is used by various industries such as pharmaceutical, food tech and data centers etc., to monitor parameters such as

temperature, humidity etc. Bolt has won various awards over the years. In 2015, Bolt IoT was one of the startups invited to travel with Prime Minister Narendra Modi to Silicon Valley amongst 30 other Indian tech startups showcased as part of the IndoUS Startup Konnect program. They were the winners at DST – Lockheed Martin India Innovation Growth Program 2015, for being amongst the best innovations in India and the winner of the ‘Best Startup’ in Goa, in 2016

DECEMBER 2021 | BUSINESS GOA INDUSTRY DOSSIER | 31

CAMPUS

BOOKSHELF

The wonders of food tourism through Mediterranean diet V. M. Salgaocar Institute of International Hospitality Education (VMSIIHE) held the fifth edition of its online series ‘Culinary Conversation’ with Chef Abilio Guerreiro, Chef Trainer and Culinary Course Coordinator - School of Hospitality and TourismAlgarve, Tourism of Portugal. Over an hour-long online session, students of VMSIIHE interacted with Chef Abilio on everything related to the Mediterranean diet and food tourism. To a question asked by student Rowan Gonsalves on what measures young chefs should implement towards sustainable food management, Abilio said, “We need to reduce waste and animal consumption due to climate change. For example, in Portugal, a law is passed wherein it bans plastic usage at restaurants and hotels. Also, we need to use technology innovatively in order to reduce energy consumption”. “Food tourism is about being authentic, whether the tourist is exploring a country, region, city, or neighborhood; they are still searching to find a sense of the place through its food. 55% of culinary travelers are motivated by the search for authenticity of

Chef Abilio Guerreiro

cuisine, one has to defend the local cuisine by incorporating trends and innovating it”, added Chef Abilio. He pointed out that culinary travelers visiting Portugal love visiting wineries, markets, and farms, participating in cooking classes, food tours, special dining, and love attending food-related events and festivals. 63% of these travelers love clicking and sharing food-related pictures. Speaking further on the Mediterranean diet, Chef Abilio Guerreiro said that the diet involves a set of skills, knowledge, rituals, symbols, and traditions concerning crops, harvesting, fishing, animal husbandry, and cooking. It is a millenary diet that consists of ingredients that are locally sourced and very high in nutritional content such as fresh fish, shrimp, octopus, olives, olive

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AUTHOR: ADAM J. MEAD PUBLISHER: HARRIMAN HOUSE PUBLISHING

THE COMPLETE FINANCIAL HISTORY OF BERKSHIRE HATHAWAY The complete financial history of Berkshire Hathaway is available under one cover in chronological format, in a book authored by Adam J. Mead. Beginning at the origins of the predecessor companies in the textile industry, the reader can examine the development of the modernday conglomerate year-byyear and decade-by-decade, watching as the struggling textile company morphs into what it has become today. This comprehensive analysis distils over 10,000 pages of research material, including Buffett’s Chairman’s letters, Berkshire Hathaway annual reports and SEC filings, annual meeting transcripts, subsidiary financials, and more. The analysis of each year is supplemented with Buffett’s own commentary where relevant, and examines all important acquisitions, investments, and other capital allocation decisions. The structure of the book allows one to follow the logic, reasoning, and capital allocation decisions

made by Warren Buffett and Charlie Munger from the very beginning. The author, Mead is the CEO and Chief Investment Officer of Mead Capital Management, LLC, and a New Hampshire-based Registered Investment Advisory that he founded in 2014. Mead spent over a decade in banking in commercial credit, and has been investing in public securities markets since 2004. He owned two small businesses during college, and grew up in a family of small business owners

oil, and salt. Eating together is the foundation of the cultural

identity and continuity of communities throughout the Mediterranean basin

Goa Institute of Management achieves an outstanding record in its campus placement performance. Highest salary of `30.17 Lakhs per annum which is a new GIM record Goa Institute of Management (GIM) has been recording high salary packages consistently for the past five years. This year the trend continues. The leading B-school attracted 70 industry leaders and pioneers which made a total of 200+ offers to a talented pool of 247 students from GIM. Despite the lockdown and the dip in the overall economy, the year saw an increase in the total number of companies that e-visited the GIM campus to recruit

from its human capital. This has led to extraordinary placements for the year. - PGDM BDA (Big Data Analytics): Highest salary of `30.17 Lakhs per annum which is a new GIM record. - PGDM HCM (Healthcare Management): Highest salary of `26 Lakhs per annum, beating the benchmarks of last year. - PGDM BIFS (Banking, Insurance and Financial Services): The inaugural batch itself recorded a median salary of `11 Lakhs per annum. Information Technology

32 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

(IT) and IT enabled Services (ITeS) were the leading recruiters followed by the Banking and Financial Services industry (BFSI). Said Ajit Parulekar, Director, GIM, “Despite continued downward trends in the economy over the last two years, GIM’s 100% placement record is evidence of the institute’s high esteem in the job market and the recognition its graduates receive in the corporate world. With almost three decades of developing future leaders in its classrooms, GIM has

shown admirable flexibility in shifting to a virtual program, without dropping any of its high educational standards.” Even among the turmoil and apprehension of the last couple of years, GIM graduates have received 100% placement across all Post Graduate Diploma in Management (PGDM) streams. This remarkable feat has been made possible by the collective and arduous efforts of GIM’s in-house Placement Cell, along with its faculty and industry liaisons

ACCOLADES

VAIKUNTH S. DEMPO nominated as Chair of CII-Yi Goa

At the recently concluded CII Young Indians Goa Chapter Annual Session, Vaikunth S. Dempo and Dr. Pratiksha N. Khalap have been nominated as the Chair and Co-Chair of Young Indians - Goa Chapter, respectively for the year 2022. Vaikunth is Director of Dempo Marketing Company Private Limited and Founder, Vaikunth S. Dempo Ventures. He holds a Bachelors in Computer Application, MITSoM-Pune – University of Pune and MSc in Innovation, Creativity, and Entrepreneurship, 2013, from the University of Newcastle upon Tyne, United Kingdom. His professional experience spans 8 years as Director of Dempo Marketing. In 2019, he founded the wellness brand Aurawell Essentials and currently, the brand has an online presence in the e-com

wellness space. Vaikunth was a delegate at G20 YEA Fukuoka 2019 and a Delegate at UK-India Week – Leaders’ Summit. His interests lie in technology, aviation, travel and sports. His hobbies include travelling, football, reading and personal growth development. Dr. Pratiksha N. Khalap, is a doctor by profession, having completed her graduation in homeopathic medicine and surgery (BHMS) from Shiroda, Goa. She completed post-graduation in clinical research and management from Mumbai. Dr. Pratiksha has clinical experience of working as a RMO in a multi-speciality hospital in Mapusa and has worked as the lead safety specialist for 10 years at a Mumbai-based MNC involved in clinical research

Vaikunth Dempo

Dr Pratiksha N. Khalap

and new drug development. Ex-Rotaractor of Rotaract Club of Mapuca Pratiksha was a member of Rotaract for over 8 years, during which time she held various positions in the board. Currently, President of Rotary Club of Mhapsa Elite, she has been recently appointed as the administrator of Mandrem College of Commerce, Economics and Management. Pratiksha is also Director of I&V Hotels Pvt. Ltd., Mapusa. In addition to this, she is also the Mahila

Congress Block President of Mapusa Block. Pratiksha has been the member of Young Indians (Yi) for over 7 years during which time she has held various responsibilities as Vertical Chair for Masoom, Gift An Organ and Yuva. She has been a resource person for Yi Goa and has conducted multiple sessions on Masoom, Gift An Organ and Yuva orientations. She has also conducted ‘train the trainer’ sessions for students of Goa Institute of Management

DECEMBER 2021 | BUSINESS GOA INDUSTRY DOSSIER | 33

PROFESSIONAL DOSSIER

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ARCH MANGUESH R PRABHUGAONKER

“We need to explore and have the right type of resources that can shape newer challenges through architecture”

Manguesh R Prabhugaonker speaks about his professional milestones as an architect and landscape planner

By SYBIL RODRIGUES

rmed with an in-depth knowledge and extensive expertise in the realm of architecture and design, Architect Manguesh R Prabhugaonker and his team is known for transforming basic brick and mortar into extraordinary spaces. Prabhugaonker did his schooling from People’s High School, Panaji and higher secondary from Dhempe College of Arts and Science, Miramar, Goa. He went on to attain a Bachelor of Architecture from Goa College of Architecture and later on a Master’s in Landscape Architecture from School of Planning and Architecture (SPA), New Delhi. Prabhugaonker’s passion for art and aesthetics in school, along with a consistent observation of transforming towns and villages, with a little help from destiny, inspired him to become an architect and start his firm, Prabhugaonker and Associates in 1994. “Having graduated from Goa, I always looked at a futuristic significance of higher education and its influence in professional practice. So I explored options in branches like urban design at CEPT, Ahmedabad and landscape architecture at SPA, New Delhi. With Goa’s global branding as a tourist destination, and ecologically sensitive natural resources, I decided to take up post graduation in landscape architecture at School of Planning and Architecture, New Delhi. With huge resources and the knowledge of planning and architecture design, I decided to settle down in Goa, sidelining several other opportunities of metro towns like Delhi and

Manguesh R Prabhugaonker

Bangalore.” Over the years, Prabhugaonker has completed various projects – each one more challenging than the other, with various multi-dimensional layers linked to it. “Concepts and ideas in different scales of the project changed from place to place, emerging with larger complex issues in architecture design and planning. His architectural practice revolved around various natures of land uses in context based situations spread across both urban and rural domain type of land. His professional assignments in projects like residential, hospitality, institutional, religious and heritage structures, socio cultural centers in hinterland, recreational urban and eco parks, open spaces in both urban and semiurban domains, industrial complexes, entertainment and urban landscape projects posed new challenges across his journey of 27 years. His various clients and the organisations that he has worked with include,

34 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

Gujarat Road state highways projects with Lea Associates; Sahara Amby valley in Lonavala; works in Niligiris, TamilNadu; International Film Festival of India related works in Panaji City in 2004; Dabolim Joggers Park, Hydrology based Vaddem lake. He has also worked with environmental strategies, several tourism related works in Goa; residential township at Aldeia de Goa and the Grand Hyatt in Bambolim, Garcia de Orta Municipal Garden for Corporation of the City of Panaji; sports complexes in Bicholim, Sakhalim, comprehensive landscape architectural design master plans for various residential houses; and many more with other government organisations including Smart City Urban Renewal Missions; and various ecologically sensitive assignments across India. Prabhugaonker draws inspirations from his late professor when it comes to his work. “My professor, late Mohammad Shaheer. He introduced me to the teachings of Central Park,

New York; Sir Frederic Law Omstead in 1992 and that was the beginning of my journey in landscape architecture and planning. Late Prof. Mohammad has been my mentor, thesis guide and Head of the Department of Landscape Architecture at the School of Architecture and Planning, New Delhi. Sir stood by me as a teacher in different formats and levels throughout and it is thanks to him that I have learnt everything I know today as a landscape architect.” Apart from his official assignments, Prabhugaonker is a member of various professional bodies and holds influencial positions in various associations, while playing an important role in each of them. Currently, he is National Council Member at the Indian Institute of Architects in India at National level for the term 2021-23 with additional responsibilities as Member of the Editorial Board – Journal of The Indian Institute of Architects, 202123; Chairman, Architects Welfare Committee of The Indian Institute of Architects 2021-23. He was a Member of Architects Social Responsibility Board as official representative at ARCASIA; Architects Regional Council for ASIA at ARCASIA, Columbo, Srilanka in 2018; Tokyo, Japan in 2018; and Hongkong in 2019. He was also associated as an official member of ARCASIA-ACSR Covid 19 task force within 21 countries, Asian team which formulated covid 19 design guidelines for architects, policy makers and stakeholders. Currently, he represents India as Member in UIA at the global level. In the past, he has served as Chairman of The Indian Institute of Architects, Goa

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Chapter 2015-2020, during which his work earned the ‘Best Chapter’ Award for Goa State Chapter at National level in 2016; and in 2020 at the national conference in Kolkata. Prabhugaonker is a senate member at the School of Planning and Architecture, New Delhi, having been nominated for two terms in a row. He is a visiting faculty and ex-adjunct professor at the Goa College of Architecture for the last 27 years; and is associated with Bachelor of Architecture and Master of Architecture in sustainable habitat and landscape design studios. He is an advisory committee member at MACT-NIT in Bhopal, Madhya Pradesh and at Anantrao Pawar College of Architecture, Parvati, Pune; and several other positions in architectural institutions in

Karnataka and Tamil Nadu. Prabhugaonker is a registered member of the Council of Architecture, Delhi and is associated with several inspections to approve accreditation for schools of architectures in India as per minimum standards for Architectural education set by Council of Architecture, New Delhi India. He is a Fellow Member, Ex Member of National executive Council and Treasurer of the Indian Society of Landscape Architects (ISOLA) associated since 2006, with key responsibilities at various initiatives at national conferences of ISOLA as held in Goa on ‘Climate Change’ in 2011 and 2017. He is also a member of the Indian Institute of Interior Designers. Prabhugaonker has also been involved with public sector organisations and has

been a resource person for the government in policy formulations. Some of these include the Town and Country Planning Department, Government of Goa. He is the Chairman of Real Estate and Housing Committee at Goa Chamber of Commerce and Industry for the term 202123. As a chairman of Real Estate and Housing committee at Goa Chamber of Commerce & Industry since 2016, one of his prime objectives is to promote housing industry friendly policies during these pandemic times to help revive the industry. To add to this extensive portfolio, Prabhugaonker is a member of the Goa State Wetlands Authority and is a member of the Building Committee at the Goa University, wherein he is associated with several policy level decision of building

committee and growth of infrastructure at the complex as per the demands of the multi-disciplinary branches of Goa University. In addition to this, Prabhugaonker has presented various papers, been part of many seminars and conferences held over the years and have several articles published by him in various newspapers and journals. Much as he has the expertise and experience, Prabhugaonker has faced various challenges in his line of work. “Today clients are on fast track roadmaps wherein time and investment associated to work process is supreme in terms of economics linked to returns. Vernacular architecture typologies, forms of traditional artisans, craftsmen and natural resources Continued on page 46

DECEMBER 2021 | BUSINESS GOA INDUSTRY DOSSIER | 35

LADY POWER

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SHALINI SITARAMAN MENEZES

Doing things out of the box!

The awe-inspiring story of Shalini Sitaraman Menezes and her quest to bring a treasure trove of opportunities and knowledge via intellectual property rights

By SWETA SHARMA

halini Sitaraman Menezes, founder and director of Patented.Network and SimSim Advisory Pvt. Ltd., is an intellectual property lawyer with a Master’s degree in physics, biophysics, and corporate law. A lady with several academic accolades to her name, she is currently pursuing a PhD in Finance at Goa University. Shalini spent the initial years of her life in the city of Bombay. She chose to study physics at St. Xavier’s College and later went on to get her masters in physics from Bombay University. After completing a second masters in biophysics from the Ohio State University, USA, Shalini decided to venture into the educational sector. Following a four month stint as a science instructor at Brooks Institute of Photography in California, she joined the Lake Tahoe Community College as the head of the physics department. She taught a wide range of subjects including concepts of classical mechanics, electromagnetism, astronomy, and modern physics. It was in America that Shalini chose the path of patents, copyrights, and trademarks. After a certain incident involving an acquaintance whose idea was stolen and later patented, she became intrigued by the concept of intellectual property. She wanted to understand and delve deeper into the subject. Hence, she decided to pursue an LLB with a specialisation in intellectual property. In 2006, Shalini joined the Indian Institute of Technology, Kharagpur, which had started a law school with a specialisation in Intellectual Property Law.

Shalini Sitaraman Menezes

At IIT Kharagpur, she met exemplary professors and students. About one professor in particular she says, “He taught me that there are three elements necessary to practice Intellectual Property Law: Technology, Law, and Finance.” Shalini got married in the middle of the law programme. When she was back on campus, she realised that she was pregnant. It was quite a fix as she still had one and a half year of law school left. She says her husband was very supportive. Needless to say, it was not very easy. After taking a semester off to have the baby in Mumbai, she came back to Kharagpur with an infant in tow. As female married students with children weren’t allowed to board the IIT student housing facility at the time, she took up a house outside campus along with her mother-in-law who had accompanied her from Mumbai. “It was quite an adventure,” she says. “I used to take my bicycle to go and feed the baby in-between

36 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

classes. My professors were very kind and understood my situation. Many a times there was no electricity because it was a rural village. So I used take my mother-in-law and son to the hostel and spend the night there.” When asked whether she faced any problems with the baby, Shalini said with laughter in her voice, “My baby was very co-operative. He didn’t pull any wires, didn’t scribble anywhere nor did he touch any of my law books.” Even with the added responsibility of motherhood, Shalini completed her LLB and stood second in her class. She also managed to finish her patent agent exam which was required in order to file in any patent. A lawyer and a qualified patent agent, she joined her husband in the United States. As she was not allowed to work in the States, Shalini helped many of her friends who later became scientists file in their patents unofficially. After a point of time, the couple decide to move back to India. They specifically chose Goa as they found it

was a place where they could raise their children and grow professionally. The problem, however, was that there was no law firm in Goa at that time. Thus, Shalini took up a job at a boutique Intellectual Property Law firm in Mumbai. “Law firms are notorious for their crazy work schedules. I used to visit my family every two weeks. I’d arrive on Friday and go back on Sunday. Sometimes I could not get bookings, the buses would break down, or the trains would get delayed. Despite all this, I reached my family.” Shalini started raising awareness about Intellectual Property Rights (IPR) after she came back to Goa. Initially, there were only a handful of clients who believed in her. Therefore she had to build a firmer base and spread more information about the subject. Her hardwork eventually paid off and presently her company has more than 30 patents and above a 100 trademarks filed from Goa. In the meantime, she got an LLM in Corporate Law along with a certification from the United States as a certified patent valuation analyst. In 2019, Shalini enrolled for a PhD in Finance at Goa University. Given her technical background in physics and biophysics, an LLM in Corporate Law and now a PhD in Finance, Shalini had succeeded in acquiring all the elements necessary for successful Intellectual Property evaluation/ management. The next step that came after filing the patents for her clients was monetising them. There was no platform available to trade these assets. According to Shalini, “Commercialising patents is like real estate. You need

certified people to value the patents, sell them, license them and buy them.” So she came up with Patented.Network, a patent aggregator platform that facilitates the acquisition, sale, licensing, and valuation of patents. The absence of an Intellectual Property Rights companies in Goa worked like a double-edged sword. Although it gave Shalini the opportunity of the first move, it also proved detrimental because not a lot of people are aware about intellectual property and what can be done with it. She would readily welcome more competition as “Competition keeps everybody on their toes. It forces people to innovate, evolve, and improve.” There is no such thing as a dull day in Shalini’s life. She always meets new patent

holders, patent buyers, and investors who bring new challenges to the table. When asked if she’d have her life any other way, she responded, “I wouldn’t be who I am or where I am if not for all the challenges that I have faced and the mistakes that I have made. It made life interesting. The more I got out there and did things that were out of the box, the more people started reaching out to me with new and adventurous ideas.” Shalini concludes with a strong message, not for the women, but for the people around them. She says, “Aspiring women do not need any advice. They are amazing as they are. The advice I would give is to their near and dear ones, especially the men. Be kind and support these fabulous women in your lives because they will succeed in life. With or without you”

on Goa a Bookshelf The finest books and writings on Goa... all under one roof. At Goa’s biggest book store. Celebrate the joy of reading.

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IHCL - GOA RECEIVES GLOBAL HONOURS IN PARIS AT THE WORLDWIDE HOSPITALITY AWARDS 2021

IHCL Goa team has been recognized for ‘Best Team Achievement’ for the stellar performance demonstrated during the challenging period and for strengthening IHCL Goa’s position worldwide as India’s premier leisure destination at the Global Worldwide Hospitality Awards, 2021 held recently in Paris. The Indian Hotels Company Limited (IHCL) – Goa hosts well-known brands such as Taj, SeleQtions, Vivanta, Ginger, amã Stays & Trails and Taj SATS Air Catering service. Vincent Ramos (Area Director – IHCL, Goa) who leads the entire Goa portfolio said, “This recognition will benefit brand ‘Goa’

Vincent Ramos

and further strengthen its image as a premium leisure destination worldwide, which is much needed for Goa. The performance demonstrated and the award won has showcased Goa on the world stage”.

The jury presented this award to IHCL Goa in Paris, after critically reviewing all participants amongst world renowned brands such as Accor, InterContinental, Marriott, W Hotels, Four Seasons, Shangri-La, Capital, Cine Park, Parklane, Sheraton,

NEW MAGSONS SUPERCENTER OPENS AT PORVORIM

Rohan Khaunte inaugurating the new Magsons Supercenter in Porvorim in the presence of Kirit and Andrea Maganlal

The grand opening of the Porvorim store marked yet another milestone for Magsons Supercenter. Gourmet and premium offerings with fresh fruits and vegetables, poultry and meat as well as a vast array of local and foreign foods and beverage are all on display at this one-stop destination. Rohan Khaunte, MLA of Porvorim, cut the ribbon for the ceremonial opening, which was held in the presence of family and friends of Magsons. The ceremony was also open to the general public with cartoon characters of Donald, Mickey and

Winnie entertaining children and parents, alike. The inauguration day received an overwhelming response of around 500 individuals shopping and availing the benefits of the 3% introductory offer on shopping and enrolling for the Magsons Loyalty Program. The new store two floors with a large choice of local and imported produce, bright and calming lighting with classic melodies playing all day is assisted by friendly and helpful personnel to ensure a truly enjoyable shopping experience to suit all of the customer shopping needs.The

38 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

store offers all kinds of frozen products in the vegetarian and non-veg categories which are ready-to-fry, ready-tocook or ready-to-eat. The lower level of the store has an exclusive fresh cold cut section serving slivers of all kinds of salamis, ham, cuts and has one of the widest varieties of cheese, local and imported. The upper floor of the store has a special health and wellness section serving sugar-free, gluten-free, lactose-free and organic and vegan produce. Wines, beer and liquor will be introduced soon.

Sofitel, Onyx and Fairmont. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, “We are delighted to be recognized on a global platform once again. Coming on the heels of Taj being rated as the World’s Strongest Hotel Brand, these awards are also a testament to IHCL’s unrelenting commitment towards excellence. We are honoured to be acknowledged by the Worldwide Hospitality Awards.” For over two decades, the Worldwide Hospitality Awards has been shining a light on innovative initiatives by hospitality brands across the globe and celebrating them for their corporate achievements

Speaking on the occasion, Andrea Maganlal said that this outlet has been the most challenging so far. “The range of offerings at Porvorim will outperform all other stores; mainly because at Magsons we have always believed in thinking out of the box, and leading by creating our niche in exclusive offerings. We shall be offering door drop facilities to all customers in the surrounding areas and plans are afoot to introduce the Magsons on-line shopping app.” Rohan Khaunte complemented the management for bringing the Magsons brand to Porvorim and said that this was a long felt need of the area and expressed confidence that consumers would greatly benefit from this opening. Parish Priest of Porvorim, Fr Caetano Fernandes had blessed the store. Magsons at Porvorim is situated at Landscape City, Chogm Road, Porvorim. Magsons would also be offering traditional Christmas delicacies, exciting discounts and joyful activities during the festive month of December

Dr Vinod Shirodkar of Cafe Real bags ‘Best of India Biz Award 2021’

Best of India Biz Award 2021 was conferred on Dr Vinod Shirodkar (left) of Cafe Real at the 18th International Edition, India Hospitality, F & B Pro World Expo, at Dr SP Mukherjee Indoor Stadium

FUNSKOOL INDIA UNVEILS TWO POPULAR TRADITIONAL GOAN GAMES UNDER THEIR INDIAN TRADITIONAL TOY SERIES

Ajay Mishra, Factory Manager, Goa, Funskool handing over the traditional Goan game TIKTEM to Heta Pandit, Vice Chairperson, Goa Heritage Action Group

Funskool India, India’s leading toy manufacturer continue their effort to modernize and brin g back the glory to indigenous games through their ‘Traditional Toy Series’. The latest additions inspired from the Goan culture and legacy was launched on 17th December 2021 at Panaji’s Caculo Mall in the presence of Heta Pandit, Vice Chairman, Goa Heritage Action Group; and a distinguished author, along with other guests. “With the entry of modern games and gadgets, the mode of entertainment for the youth of today is being redefined every day. It is important for our children to get connected to tradition and culture, and what better means than the traditional toys and games?” said Pandit. Tiktem and Tabul Phale have their origins in Goa and have a primary role in

defining the childhood of an entire generation of the state. These legacy board games, which were extremely popular in ancient Goa has played a pivotal role in building strategy, focus and calculations skills amongst kids. Even with technology overpowering, these games played using pebbles and shells (guno and Shipi in Konkani) are seeped heavily into the local, regional, and cultural nuances of its surroundings. Tiktem, is a two-player game which is beneficial to the tactical thought process of children. It encourages strategical thinking and improves the intelligence quotient / IQ at a young age. Tabul Phale is also a game originated in Goa and is a fusion of Chess and Ludo. An extremely popular game in Goan households, it consists of wooden board, rounded on corners with motifs and decoration. Once the Tabul is rolled the players strategise the movement of their pawns and aim at nothing less than victory. Promoted by the MRF group, Funskool India has been leading the efforts to bring back the traditional/ indigenous toys to Indian homes www.businessgoa.in

DECEMBER 2021 | BUSINESS GOA INDUSTRY DOSSIER | 39

MANAGEMENT

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A MANAGEMENT PROGRAM TO UPSKILL PERSONNEL Dr. Saidas Khorjuvekar, course co-ordinator, speaks on the Certified Manager Program that has been designed by Goa Management Association for supervisors and young managers What is GMA’s Certified Manager Program? Certified Manager Program is designed for supervisors and young managers working in industries, trade and commerce. The objectives of the program are to impart professional managerial knowledge and skills to supervisors and young managers specialising in industry, trade and commerce. The program will help supervisors to upgrade their skills and manage the organisation efficiently and effectively. The program is of six months duration and the classes (in physical format) will be held on Sundays, while virtual classes will be held on week days. The Certified Manager Program consists of five courses i.e. Management and Behaviour, People and Performance, Finance and Accounting, Production and Control; and Customer and Marketing. How did the idea of Certified

Committee meeting and it was felt necessary that GMA should help these young supervisors to enhance their professional managerial knowledge and skillsets. This will not only help the supervisors but also help industries improve their performance and productivity. Thus, the idea of designing a management program suitable for industry, trade and commerce from a practical application point of view evolved. Dr Saidas Khorjuvekar

Manager Program come about? During my working tenure in various companies, it was observed that in most of the industries supervisors have good technical knowledge but they lack professional managerial skills. This affects the performance of the employee, which in turn affects productivity of the organisation. This point was discussed at GMA’s monthly Executive

How will it help managers to improve their skill? The program will be

The CMP will impart managerial knowledge and skills to supervisors and young managers and help them to upgrade their skills and manage the organisation efficiently and effectively

conducted by experts’ from industry and academics who will share their practical experience and skills with supervisors and managers. This will help them to understand conceptual knowledge and review business fundamentals. It will also improve their analytical and practical insights which will enhance their performance and contribute to the organisation’s success. The participants will be able to update themselves with contemporary managerial practices and improve their skills. What support do you seek from Industries? We shall be inviting guest speakers from industries. We expect professional and senior management from the industries to take few classes to share their experience with these youngsters. Secondly, industries should encourage their employees to enroll for this program, which will be of great help to the participants and organisations

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CORPORATE CITIZEN / DANIEL ALBUQUERQUE

A Critical Analysis of Nyaya Panchayat and Lok Adalat

The author opines that although the intentions of the legislator are noble and appropriate, the actual application and function of the rural judicial system is no more than the existing maladies plaguing the judiciary of the country and a far outcry from being an Alternative Dispute Resolution

hough the Panchayati Raj Institutions have been in existence for a long time, it has been observed that these institutions have not been able to acquire the status and dignity of viable and responsive people’s bodies due to a number of reasons including absence of regular elections, prolonged supersession, insufficient representation of weaker sections like Scheduled Castes, Scheduled Tribes and women, inadequate devolution of powers and lack of financial resources. - The Constitution of India (Seventythird Amendment) Act, 1992. Context The 73rd Amendment Act provides the Gram Sabha as the foundation of the Panchayati Raj system to perform functions and powers entrusted to it by the State Legislatures. The amendment has added a new Part IX which comprises of 16 articles and the XIth Schedule to the Constitution. Following the mind of Mahatma Gandhi, Father of the Nation, the Constitution of India considers the village communities as the basic cell or the foundation of the nation. The village is the identity of India. It defines it. It is the microcosm of the republic. The vicissitudes of her history have led India to a highly centralised and regulated organs of the government – legislature, executive and the judiciary. The constitutionally provided federal structure has been increasingly and unceasingly under strain. Consequently, the village republic has been high on rhetoric and low on its individuality. The 73rd amendment was to correct this anomaly and thus devolve and decentralise in the interest of the village republic or as the nomenclature is Gram Sabha or Village Panchayat. Further, Article 39 of the Constitution of India stresses that the State in the Union of India must ‘direct its policy towards securing’: equal rights of livelihood to both men and women, material resources of the community for common good, economic activity must not discriminate or be developed to the detriment of the people, equal pay for equal work irrespective of gender differences, poor economic conditions should not drive children and adults against their dignity, children must have ample opportunities

for health, education and free of moral and material deprivation. Reality Check You are well aware that through these very columns you have experienced quite to the contrary. Gram Nyayalayas Act, 2008 promised citizens’ access to justice ‘at their doorsteps’. Case: However, in the case concerning Village Panchayat of Collem versus Industrial Tribunal, Government of Goa, on 19 July, 1994. (See: https:// indiankanoon.org/doc/1046109), we saw that it was both against the spirit of Article 39 of the Constitution of India and the Gram Nyayalayas Act, 2008. The case of a simple peon meandered from village sarpanch, who invested with powers to dispose of the case, dabbled in politics. The next sarpanch sent it to the Industrial Tribunal, which in turn had to move the Bombay High Court. It took a decade to set aside earlier award proposed by the government of the State and the onus was fixed back again on the Industrial Tribunal to dispose of the matter within six months in favour of the dismissed peon! The case presents a difficulty. If the self-same national legal system is adopted at the basic level, the village panchayat, irrespective of its small size, it does not make it any difference. On the other hand, if the law makers innovate and initiate a different form of justice delivery then suddenly the monster of two legal systems will emerge. Such a dilemma is unthinkable if equity and justice are to be served. Lok Adalat or Legal Services Act The Legal Services Authorities Act, 1987 provides ‘free and competent legal services to weaker sections of the society’ to promote ‘justice on the basis of equal opportunity’. Lok Adalat is a unique Indian contribution to the world of jurisprudence, a people’s community oriented dispute settlement scheme. It has a very old tradition, where the authority such as a king or feudal lord dispenses justice after hearing the disputants and witnesses immediately and instantly. However, our present day Lok Adalat dispensation is highly

The columnist is a writer with Oxford University Press and a published author. Email: albuquerque.daniel@gmail.com 42 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

formalised with the enacted law and an established hierarchy of institutions. The well-ordered hierarchy of Lok Adalat bodies are a) National Legal Service Authority, b) Supreme Court Legal Services Committee, c) State Legal Services Authority, d) High Court Legal Service Committee, e) District Legal Services Authority, f)Taluka Legal Services Committee. There are also different types Lok Adalat bodies: 1) Permanent for disposing cases relating to public utility such as regarding essential services. 2) National held on a specific topic to dispose pendency of piled up cases. 3) Mega Adalat is a kind of large camp at state level. 4) Mobile Adalat is an outreach service for convenience of the people. Case: Whatever may be the shape and size of the systemic structure,the following simple case exposes the weakness in justice delivery to the simple citizen. Smt Twes Nongsiej versus State of Meghalaya on 17 March, 2017. (See, https:// indiankanoon.org/doc/69689922/) The petitioner being illiterate had no idea where in the earlier Lok Adalat procedure of 2014 she had conceded her land to the PWD. The aggrieved, thus, had to approach the High Court. The counsel for the petitioner submitted that the PWD was not even represented when the award was made by the Lok Adalat. The counsel for the respondent, the Government of Meghalaya argued that once the award was made with due consent of the parties; the award of the Lok Adalat is final! The High Court took note of the free and fair consent which was not coerced; section 21 and all its clauses concerning the finality of the Legal Services Authorities Act, 1987 was to be upheld. The Court closed any further dispute and dismissed the writ petition. Closing Remarks Just as it was in the earlier case this presents a dilemma, too. The judge is bound to uphold the law. The letter of the law is what the judge followed. By the spirit of the law the poor illiterate lady was deceived, who had meekly consented. The question arises: Is the Continued on page 44

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CABBAGES AND QUEEN / NANDINI VAIDYANATHAN

Can ‘Us Time’ be mandated by law?

The writer speaks on the after-hours business communications in India and the reasons behind them

saw a small news item in one of the feeds that pop up on my phone - that Portugal has made it illegal for employers to contact any member of their team after office hours. “The employer must respect the privacy of the worker,” stipulated the new law. I remember years ago landing in the wee hours of Saturday morning at Zaventem airport in Brussels and expected to be greeted by a much junior counterpart. Imagine my surprise when there was no one waiting for me and his phone remained switched off till Monday office hours! When we met, both of us were appalled for completely different reasons. I was appalled that I was left to my own resources on a weekend. He was appalled that I even expected him to show up on a weekend! In India, notwithstanding that we are extremely ‘familial’, that is, family oriented, we have no problem abandoning our child’s birthday party to pick up visitor from ‘office’ from the airport, doesn’t matter if it is weekend or holiday. We don’t mind bringing the visitor home for a meal, fully knowing that the return courtesy will never be extended to us. What makes us Indians give primacy to our employer over and above everything else? It is obviously cultural that has got ingrained into us and become behavioural. In the feudal system in India, employer was ‘mai-baap’. Forget family, even our souls were mortgaged to the employer. It stems from this gratitude that your employer puts the food on your table for your family. Under the British, this servile attitude became a doctrine as disobeying was tantamount to rebellion and all rebellions were quickly quashed under the very same boots that the Indian had

cobbled for his British master. With the invasion of MNC culture, where there should have been no place for servitude in a professional environment, the I-scratch-your-back-you-scratchmine became institutionalised and literally part of the induction program when young inductees were sternly told that they cannot comment on social media about either their bosses or their organisation. With this, muzzling became a strategic tool, exit interview a joke, and a new kind of corporate mafia took hold of the organisation culture. I have thrown this challenge at many people at different levels of the organisation, both in my classes and on other platforms. Do you remember your organisation’s vision statement? Because every vision statement gloats about how employees are their biggest assets. And I have never heard anyone recount verbatim what is written in the vision statement that hangs gloriously in the reception but refuses to stay in the minds of people who are the ones who can make the vision a reality! If the industrial revolution made workers feel like cogs in the machine, the IT revolution stripped them of the dignity of being human beings first. They became only what their doggie tags said they were, no other identity was

entertained. Therefore they mortgaged all their waking hours to the organisation even as the waking hours hijacked more and more of the personal space. And I think in India we allowed it to happen because of our glorious ‘mai-baap’ heritage. Gratitude for putting food on the table was replaced by fear of being fired and not having food on the table. HR surveys have shown that the only two reasons why employees quit organisations are bad bosses and bad organisation culture. But today quitting is not an option at all because most employees have figured that all organisations are pretty much the same, they all have bad bosses and a culture that sucks. So what’s the point quitting one to end up in another with a distinct possibility of it being worse than the previous one? This brings me to why I started writing this piece. Portugal’s law banning office contact after work hours. What happens if such a law is passed in India? Will organisations protest at the Delhi border and hold everyone to ransom saying the law has to be repealed because the poor sods (read employees) won’t know what to do with their time after office? That it will lead to mass depression and may be even suicide like lemmings? Will employees protest saying the government is taking away their fundamental right to work 24-hour days? Will mobile phone companies from China threaten to stop selling in Indian markets as a significant population has stopped using mobile devices after office hours? Will the divorce rate go up significantly? Will it finally become a level-playing field with near-same numbers of men and women at all levels? What do you think? Is a law like this in India a good thing or a bad thing?

The columnist has commenced her fourth professional avatar with her bakery and restaurant business in Jaipur (www.concoctions.fr) with her French Michelin-star chef life partner. Email: nandini@carmaconnect.in Continued from page 42

man made for the law or the law is made for man? The object of social responsibility may hold the key. But such a hope is only ideal. This is so due to two main reasons: a) the panchayat system is a democratic political system and functions under a ruling banner and the other dons the role of the opposition. The aggrieved is torn apart seeking justice from within such a system; b) the close knowledge

and relationships that exist in a village community hinder people from fighting for their rights without creating quarrels and enmities. Further, the adherence to caste, creed and community can play havoc and tear apart the social fabric of a village. Thus causing more harm than good. The crux of the problem of village level judiciary lies in the complete misinterpretation of the kind of village republic that Mahatma Gandhi

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envisaged. Gandhi actually advocated for alternative dispute resolution. In other words through dialogue, consultation, and persuasion making them conscious of the perils of legal system, crime and punishment which benefits no one. The noble purpose is to bring people together, reconcile and rebuild lives, live in peace and harmony. The creation of Gram Nyayalaya and Lok Adalat are contrary to the India that Gandhi dreamed about

“Little Drops Of Water Makes A Mighty Ocean”

INVEST RIGHT / MAHESH PAI

Break the Cycle of Debt The writer explains the concept of debt and suggests ways of getting out of debt traps

eing deep in debt can be stressful to you, your family, and majorly your health. According to the Credit Information Company (CIC) half of India’s working population has atleast one loan or a credit card. The worry over how to pay the bills with rising inflation and the struggle to save for the future has impacted the population of India. And stress over finances can make it difficult to save, budget, or even write a shoppinglist, to help keep a track at the store. Debt is often the result of poor financial habits developed over time and these habits must change to achieve long term financial security. Many people try to escape the debt spiral but only a few are able to get out of it. The first step to get out of debt is to stop borrowing money. People find themselves with a shortfall each month and borrow or charge the difference on a credit card which deepens their financial pain. Credit cards are often the lead culprit in creating consumer debt, when one spends in cash or debit card they realise the importance of budgeting. This way, they will see how much they are spending, and when the money runs out, they won’t be able to spend more. Facing financial problems can feel threatening and stressful so instead of taking action, people often choose to do nothing. But until they don’t

track it down it is impossible to bring back the financial stability and security. One of the simplest methods to get out of a debt spiral is simply by taking a close look at one’s income and expenses. Though many people dislike the idea of living on a budget, the reality is that everyone does (unless they have an unlimited income). If one just can’t handle the idea of tracking every penny that you spend, it is still a good idea to review the income periodically and compare it to the expenditures. At the very least, people will figure out whether they are shelling out more than they are bringing in. Reducing your costs with a reasonable amount can facilitate your debt settlement plan. Whether these are big or small lifestyle changes, depends

on what you are most comfortable with and how quickly you want to pay off your debt. Reducing discretionary spending is the next step in the process. This step is often the biggest challenge for anyone who doesn’t want to keep track of where their money is heading every day. One way to make it easier is to change the payment method. The simple act of paying with cash rather than credit can help people become more aware of how much they spend and how much they have left in their pocket. Ultimately, perseverance pays off to break the debt spiral and you will need plenty of patience. Any approach that motivates you to take action and stick to your plan is worthwhile. The biggest mistake of any business owner/entrepreneur is taking a bigger loan to repay an existing loan; and to add to the debt spiral the financial institutions make it easier and provide more credit as they feel every business owner is capable of repaying the loan. By the time one loan is ending people start planning for the next loan, all their life they work to only pay off the debt. This pattern does not stop until they seek professional advice. Remember, it took years (possibly even decades) to build up those outstanding balances. Recovery will be a similarly slow process

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

Continued from page 35 (building materials) are disappearing from the industry and newer technologies with wired models of infrastructure over our designs are becoming very challenging to strike a balance for architects. We need to explore and have right type of resources that can shape newer challenges through architecture.” Further, he says that architecture can never be taught and that it is a continuous form of learning with fast moving multi-dimensional aspects over design processes. “Architecture needs a consistent effort that can become very taxing with innovative thought provoking strategies that needs to be translated so that concept based ideas of our clients are transformed via building agencies on sites to evolve final end products, this needs huge patience and time.” Prabhugaonker says that his family has been very supportive. “My wife Sapna 46 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

has been single handedly managing the two distinctive professions chosen by my daughters, Sanjana a national swimmer; and Muskaan who is graduating in Economics. Their encouragement and support is a big force that keeps inspiring me to move on.” As far as his future plans are concerned, Prabhugaonker intends to continue working and contribute to nation building in India. “I plan to add the research component to my current

architecture practice that can facilitate us in policy making; and drafting of guidelines to take on challenges posed by the pandemic, the new normal and its emerging practices for Goa and India.” He concludes with a message to aspiring architects. “Be ready for newer challenges and be prepared for the demands and deliverables for the industry. Explore technology and software based digital era in planning, execution and operations of projects and not just blue prints. Rethink, review, reconnect and revisit to analyse the ground realties and move on towards finding design solutions with innovations and futuristic trends. Respect architectural identities; critically analyse emerging vocabularies and context with people-friendly strategies and policies integrated in design. Environment, biodiversity and ecology needs to make strong presence on design by generation next and is the need of the hour”

SANTOSH KENKRE / WISE WORDS

Magic of Quantitative Controls: Quantify your Process Losses The writer explains the losses that a manufacturer faces, and outlines ways of identifying them

or many SMEs, the focus is on sales and on recovery from debtors. The efficiency of the process, whether manufacturing process or the process of trading/distribution/super market operations, is almost taken for granted. As a consequence, there are excessive losses of raw material and or finished goods/traded goods. The worst part is that, the owner does not even know how much he has lost, be it normal losses or unreasonable losses (including pilferage). I have seen in some factories, that current staff members clandestinely do parallel manufacturing operations elsewhere, by partly stealing raw material from the boss’s factory! Generally speaking, many owners learn about the net profit or loss which they have earned for a year, much after the year is over – that is, in the following October, when the accounts are finalised for some other purpose than Income Tax returns. Also, not many business owners analyse the reasons for disproportionate increase in expenses; or why there is a drop in profits of the business. I recommend below, two most important methods to crystallize and analyse the business performance: A. For trading businesses and supermarkets: gross profit ratio and for manufacturing businesses: ratio of raw materials consumption to production. I will elaborate on this next month. Currently as per the infographics, I would like to deal with quantitative controls as under: B. Quantitative controls on raw materials and finished goods (including traded goods): A business deals chiefly in raw materials and finished goods. Kindly note that, for the purpose of this discussion, goods

Not many business owners analyse the reasons for disproportionate increase in expenses; or why there is a drop in profits of the business dealt with by trading businesses including retail/wholesale/supermarkets, etc, can be considered at par with ‘finished goods’ for the following exercise: NOTES: i) To start with, the owner needs to focus only on the most important ‘A’ items. ii) The owner needs to analyse whether the figure of spoileges/samples in the chart at no. 4 is reasonable. iii) The owner also needs to physically check the quantities of the closing stock (No 5) on all the business premises. NOTES: i) To start with, the owner needs to focus only on the most important ‘A’ item. ii) The owner needs to analyse the figure of spoilage etc at serial number 4. If the owner feels that spoilage of 100 nos (No. 4) is excessive, it means that there is some problem in the procurement or handling or internal movement or storage of raw materials, or there is pilferage of the raw materials. iii) Owner also needs to check quantities of closing stock as per number 5 on all the business premises. iv) Also check whether the quantity 1,500 of finished goods produced by use of 1,900 raw materials is reasonable. In

Opening stock (+) Manufactured + purchased (if any) (-) Sold (-) Spoilage/samples, etc. = Closing Stock (1+2-3-4)

GENERAL: The above exercise is to be done on monthly, quarterly, and annual basis. To start with, it can be done on monthly basis since it is easy to remember the events of the last month. However, in case the owners do not have the time or the inclination to do the above exercise at an early date, they can start with a simple summary exercise as below: SUMMARY EXERCISE Quantity of finished goods sold in the last month - 100 numbers Quantity of most important ‘A’ type raw material purchased in the last month- 120 numbers. Now, in case by using 120 numbers raw materials, ideal production is 105 (as compared to the 100 above), it means that there is some problem. The staff will naturally blame it on the opening stock and closing stock of the month in respect of the said materials. This defence is acceptable, provided for the next month the production of finished goods is more than the standard quantity. The biggest outcome of all this analysis will be that, the staff will be on their toes and efficiency will increase. The exercise is based on common sense, but many owners do not do it, to their own peril. As they say, success need not be doing extraordinary things but definitely, success follows them who do ordinary things in an extraordinary manner

RAW MATERIALS (Quantity of main raw materials ‘A’ category item say ‘x’ item) (Nov. 2021)

FINISHED GOODS OR TRADING GOODS (Quantity of ‘A’ category items (Nov. 2021)

1 2 3 4 5

other words, whether the manufacturing process loss 400 nos (No. 7) is reasonable.

100nos 500nos 400nos 10nos 190nos

2 3 4 5

6 7

Opening stock (in stores/warehouse) of 'x' item (+) Purchases of 'x' item (-) Removals for manuf. of 'x' item (-) Spoilage, etc. of 'x' item = Closing Stock in warehouse/stores of 'x' item (1+2-3-4) Finished Goods actually manufactured Loss in manufacturing process (5-6)

1000 5000 4000 100 1900

1500 400

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 48 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

ATUL CHATURVEDI / NATIONAL FOCUS

Monetization of railways could be a much-needed game changer

The writer speaks on the monetization of the Indian Railways and why it will be beneficial in the long term

he announcement by the Union Government to usher in major changes by way of the National Monetization Pipeline (NMP) plan on the 23rd of August 2021 has triggered polarising debates and discussions on the possible implications of this policy. Projected revenue from railways is expected to be 1.5 lakh crores and will contribute to 25% of the overall pipeline of 6 lakh crores. It is important to remember that asset monetization is a measure to generate additional capital for new infrastructure creation in the country without sale on any public asset. NMP merely provides a mechanism for enabling private companies to lease and operate infrastructure owned by the government. Against this backdrop, it would be worthwhile to analyse the ways in which this measure could impact the country’s railways in times to come. Owing to a network of 121,407 km of total track over a 67,368 km route, the Indian railways are the fourth largest in the world in terms of size; and employ more than 1.3 million people. The freight trains are particularly significant from the perspective of commerce and transport more than 90% of the coal that provides 50% of the country’s power requirement. However, since the railways has been primarily dependent on government support since independence, it was challenging to generate adequate funds for capital expenditure. Bulk of the funds continued to be subsumed under operating expenses. Infrastructure and funding challenges in railways manifested in the form of collisions, derailments and level crossing accidents. Besides, in the last fiscal covid induced disruption resulted in a revenue loss of `38,017 crore in the passenger segment. Considering the increasing focus on augmenting railway infrastructure to facilitate freight and passenger movement, significant investments are needed to address capacity constraints. The year 2014 was a watershed moment as the Union Government initiated bold reforms by not only allowing private investments in railways but also permitting 100% FDI in railways infrastructure sector. Consequently, ten areas/activities that were listed under the category of construction, operation and maintenance permitted 100% FDI through the automatic route. As per the The writer is Secretary, Government of India

50 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

data released by DPIIT (Department for Promotion of Industry and Internal Trade) for railways and associated sectors, the FDI inflows stood at US$ 1.23 billion from April 2000 to March 2021and constitutes only 0.23% of the total FDI inflows in India. So, asset monetization in this context assumes significance as it will pave the way for greater influx of funds by private players. And in recent years, we have already witnessed an uptick in investor sentiment – in 2015, General Electric won a $2.6-billion contract to supply 1,000 locomotives (100 locomotives on yearly basis for 11 years). Since India’s railways is a lifeline for more than 30 million citizens who use it every day – modernising the facilities and enhancing the speed will go a long way towards making our workforce more productive. To keep pace with other leading economies of the world, India will have to expand its high-speed railway network. The Indian Railways Vision 2020 report highlighted that our railways has to match the speed and efficiency of trains in countries like US, France, Japan, and Germany in aspects like – speed (average train speed is 60 kms/ hour in India) and route-kms per million population served – which are metrics to gauge the level of rail connectivity in a country. To address these challenges, the National Infrastructure Pipeline and the Draft National Rail Plan (NRP) 2020 provide a detailed asset-level plan for the development of the railway sector. The NIP envisages a total capital expenditure of `13.7 lakh crore by both the Centre and States over FY 202225, of which `1.6 lakh crore is expected through the PPP mode. The Draft NRP 2020 laid out a strategic roadmap for the sector for the next three decades, which

includes an increase in the modal share (freight) of railways from 26% to 45%, while continuing to provide best-in-class services for passengers. An efficient implementation of NMP will ensure huge influx of funds that could vastly upgrade the infrastructure and operational logistics for passenger trains, revamp railway stations, freight terminals, railway colonies, and railway tracks. In this context, it is important to realise that the bulk of our railway assets have been lying either unutilised or underutilised since independence. Take the case of the land along railway tracks – it could be leased out to telecom companies for laying cables. Likewise, it would be prudent to enable the utilisation of freight terminals as Logistics Park for private companies and generate another revenue stream. Robust investments by the private sector will facilitate the achievements of ambitious targets set by the government – that includes achieving 100% electrification by 2023, Net Zero Carbon Emission network by 2030, ease of ticket booking, online freight services and suchlike. Niti Aayog’s analysis pegs the monetisation value for railway infrastructure development at `76,250 crore from FY22 to FY25, while for passenger train operations; the value is pegged at `21,642 crore. Importantly, it is worth noting that the move towards asset monetization has happened in a gradual manner. A similar model was adopted in the case of major toll roads in the country. Per estimates the redevelopment of 125 stations along with the development of real estate would cost approximately `50,000 crore. Further, another challenge emanates from the under capacity of passenger trains that is evidenced by the fact that 15% ticket holders on an average are waitlisted. In 2018-19 alone, over 8.84 crores of passengers couldn’t travel as they were waitlisted. To mitigate this problem, 12 clusters have been earmarked in highdemand routes and it is expected to bring in 30,000 crores worth of private investments with the potential of adding 150 modern trains along109 routes. Thus, the monetization of railways is based on an exhaustive study of the challenges plaguing the sector and supported by a sound economic rationale and is likely playbook for other sectors to emulate

BON APPÉTIT

business-goa

GRAND HYATT GOA

World’s most exciting floating sky restaurant Dining, an adventure dining experience in the sky by Vindev now in Goa FlyAdventure Hospitality, announces launch at Grand Hyatt Goa Dining in the sky

oa welcomed a unique ‘adventure dining in the sky’ experience with Fly Dining, a unique suspended culinary experience at Grand Hyatt Goa. Fly Dining Goa brings a unique floating sky restaurant 160 feet high combined with exquisite views of the state’s stunning coastal landscape and reputed gastronomical endeavours of this well-awarded five-star resort. Fly Dining is an Initiative of Vindev Adventure Hospitality co-founded by Devi Prasad and Vinay Kasetty. Fly Dining offers three-course meals and is open for breakfast, high tea, sundowners and dinner, with food curated by the expert culinary team of Grand Hyatt Goa. With a maximum capacity of 24 seats, the experience also features live music performances along with a service team of four ensuring a safe and memorable affair. Devi Prasad, Director and Managing Partner at Vindev Adventure Hospitality, said, “Goa is a land of sun, sand and sea and Fly Dining provides a bucketlist opportunity to access all of these three instantly from the sky. Guests can experience gorgeous sunsets, views of the beautiful sea just a stone’s throw away from the Bambolim Bay. This 52 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

is surely a bucket list experience for everyone travelling to Goa as well as local residents.” At Fly Dining Goa, the experience is not only limited to a meal in the sky, but can also double up as an experience for intimate celebrations, team meetings and more; all with the thrilling feeling of floating 160 feet above the ground, looking out across the shores of Bambolim bay and into the Arabian sea Jaco Le Roux, General Manager, Grand Hyatt Goa; and Area Vice President, South India, Hyatt Hotels, said, “Grand Hyatt Goa is home to more than 101 experiences for both adults and children. The association with Fly Dining adds a unique dining experience to the combination of relaxing and adventure offerings already available on the resort” To allow guests to fully enjoy this incredible experience, Fly Dining has been designed to comply with German safety norms (EN 13814) and international norms (ISO 17842-2015). Expert engineers have conceptualised and constructed the platform and its safety features from seat belts to the type of crane used, with each feature scrutinised and tested to ensure maximum safety. Fly Dining has been certified by numerous safety organisations across the globe,

including Germany’s TUV Rheinland, the UK’s British Safety Council and the American Society for Testing and Materials International. The 24-seater deck is raised 160 feet high with a German Terax Demag crane with a capacity of 140 tons and counterweight of 32 tons, operating at a radius of 18 metres from the crane cabin. The crane capacity is 16 tons, but Fly Dining will be lifting a live load of maximum seven tons, thereby operating at a workload of 45 percent. Both staff and guests will have strong safety harnesses during the entire experience. This promise of high safety and security ensures a truly stress-free dining environment with an unmatched adventurous touch. Vinay Kasetty, partner at Vindev Adventure Hospitality added, “Fly Dining was conceived to provide thrill seekers with a ‘top of the world feeling’ with the highest quality food, service and atmosphere in a fun, enjoyable and rewarding experience. We are probably the most Instagram-friendly experience. We have worked very closely with the Grand Hyatt Goa team to design a memorable experience and we hope we will be able to open up many more flights throughout the day for all to enjoy”

GOA BUZZ

www.businessgoa.in

Saikshama and Vikram Panvelcar launch The Floral High at Assagao The gastronomers of Goa are all set to experience a discerning restaurant that has opened at Assagao, The Floral High (#TFH). Nestled on the main Assagao road which leads towards Anjuna, #TFH offers you food that is a crossover between Indian, Oriental and Continental along with a range of classic, signature and housemade cocktails, served with the right vibe, until late into the night. #TFH complements the amazing cross over cuisine with live Bollywood acoustic music. #TFH has been designed by Arch. Shefali Cordeiro as a modern contemporary tropical space inspired by the beauty of Goa. The colours, artwork, materials and lights used in the space are kept true to natural elements. The beauty about the restaurant is that the colours, textures and other aspects of the interiors allow for dining during the day, night or even late nights. The opening party was rocked by the band Raagas2Riches, belting out classic and popular numbers to make it a night to remember. The hosts and the owners Saikshama and Vikram Panvelcar gave a warm welcome to all the guests .The place is managed by its owner Saikshama Panvelcar. The ambience, cuisine, cocktails and peeps all add to the vibe at #TFH. It totally complements and syncs in the Assagao ambience. This brand new, relaxing, high-ceilinged restaurant is a must visit for foodies

Harshvardhan Bhatkuly Urvija Bhatkuly Sahil Adwalpalkar Gautam Panvelcar Parind Nachinolkar Sindura Nachinolkar Tanmay Kholkar

Krupa Kholkar

Rahul Naik

Sayee Naik

Vikram Verlekar

Shweta Verlekar

Neha Madan

Dhruv Madan

Neha Khaunte

Gaurav Khaunte

Sameer Dukle

Shweta Dukle

Amey Bhobe

Apurva Bhobe

Rahul Nadkarni

Maithili Nadkarni

Neha Zantye

Rohit Zantye

Sonal Naik

Akshaya Dempo

Ananya Pai

Sainil Priolkar

Riya Kossambe

Shefali Cordeiro

Malcolm Dias

Samruddh Bharne

Avira Caro

Samit Caro

Vikram and Saikshama Panvelcar

Swaroop Naik

Alok Cordeiro

54 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

GOA BUZZ GMA Knowledge Series on ‘Privatisation of Currency’

Jinesh Shah

Goa Management Association held its signature GMA Knowledge Series Lecture recently. Jinesh Shah, Chartered Engineer and entrepreneur, with more than 14 years of work experience in technology, management and finance spoke on the topic ‘Privatisation of Currency’. The session focused on history of money, crypto industry and decentralized finance. Amin Ladak, Chairman, GMA, welcomed the audience, while Rohan Bhandare, Executive Committee Member of GMA introduced the speaker and the moderator, followed by opening remarks by Dr. Rajanala Nirmala, Assistant Professor, Department of Management Studies, Goa University and moderator of the session. The participants attended the session in physical at the venue and many others including the local management associations who joined virtually. The vote of thanks was presented by Dr. Saidas Khorjuvekar

Dr Pradeep Salgaonker

Dr Saidas Khorjuvekar

Dr Rajanala Nirmala

Gajanan Karkare

Nijguni P Sardar

Charles Bonaficio

Dr Krishna Gopal Rajanala Harshvardhan Bhatkuly

Girish Potdar

Vivekanand Phaldessai

Amin Ladak

Newin Ladak

Rohan Bhandare

COMO Designers Collective presents The December Lights

An evening to launch and present the latest of party and evening wear collection for the season at COMO Porvorim. The evening featured the latest from designers like Rohit Gandhi and Rahul Khanna, Wendell Rodricks, Gavin Miguel, Felix Bendish, Sougat Paul, Khushboo Borkar, Deepika Arora, Mona Shroff and Philu Martins amongst others. On this launch, Pallav Ojha (CEO and co-founder) of COMO said, “It’s great to launch the best from the design universe for this season and the collection will be available in-store throughout the party season for our shoppers”. The evening was well attended by the fashionista’s from Goa. The evening featured live music sensations Ryan and Naisa over curated cocktails and gourmet food by Johnny’s. It was a night to remember over fashion showcases, glitter and laughter - The COMO style!

Ash Chandler, Pallav Ojha, Joanne da Cunha, Neha Asthana, Neha Vishwakarma and Natalia 56 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

Ranjan and Rani Ojha

Surajit Chatterjee and Sunil Kumar

Mamta and Dr Atul Kalangutkar, Felix Bendish, Flora Bellestrain, Sheeba Shah, Siddhe and Riddhi Mapxenkar, Neha Asthana, Pallav Ojha, Khushboo Borkar

ESG wishes to thank all the Cine enthusiasts, Sponsors, Delegates, Guests, Audience nd and Well wishers for making 52 IFFI 2021 a Grand Success.

www.iﬃgoa.org

@iﬃgoa

International Film Festival of India, Goa 20 -28 November, 2021 th

NEWSMAKERS Konkani writer-activist Damodar Mauzo decorated with Jnanpith Award 2021

Veteran Konkani author, Damodar Mauzo was awarded the 57th Jnanpith Award (2021) and became the second Konkani writer after late Ravindra Kelekar to win India’s highest literary prize. Mauzo is notable for his novels, such as Karmelin and Tsunami Simon, and short stories, such as Teresa’s Man and Other Stories from Goa. His books have been translated into several Indian languages. His first collection of short stories was Ganthon, published in 1971. Mauzo won the Sahitya Akademi Award in 1983 for his novel Karmelin, which revolves around the lives of domestic workers in the Middle East. It has been translated into 12 languages. He also won the Vimala V. Pai Vishwa Konkani Sahitya Puraskar award for his novel Tsunami Simon in 2011. Mauzo is the co-founder of the Goa Arts and Literature Festival. He is also an activist and has worked towards the inclusion of Konkani as a language in the Eighth Schedule of the Constitution of India in the 1980s, in a movement called Konkani Porjecho Avaz

Nitish Raikar is Kilowott’s new CEO

Nitish Raikar has been promoted as the Chief Executive Officer (CEO) at Kilowott for India and global operations. He will lead Kilowott’s strategic brand management, deploy new service lines and lead growth markets along with business operations. Previously, he was the Chief Operating Officer (COO). Raikar, an engineering graduate, has an experience of more than 20 years in blue chip companies such as IBM, Infosys and Mindtree. He brings experience across digital services like IT Consulting, application development, business analytics, cloud, mobile application and software, including SaaS development, software testing and user experience design (UED). Raikar said, “Over the course of my career, I have worked with some of the biggest names in the global tech industry. At Kilowott, I want to leverage my experience and make the organisation a leading digital solutions company in the global markets

Alex Rodrigues becomes youngest current CEO of a publicly traded company

26 year-old Alex Rodrigues has become the youngest current CEO of a publicly traded company with $5 billion Embark SPAC Merger. Growing up in Waterloo, Canada, he engineered a self-driving golf cart at 19. While his professors encouraged him to use his talents in self-driving cars, Alex set his sights on the 18-wheeler trucks. His autonomous trucking software company, Embark, went public via SPAC merger with Northern Genesis Acquisition Corp. II. Alex launched Embark after meeting fellow University of Waterloo mechatronics engineer Brandon Moak, with whom he built the self-driving golf cart 58 | BUSINESS GOA INDUSTRY DOSSIER | DECEMBER 2021

@businessgoamagazine

Manguirish Pai Raiker on National Executive Committee of FICCI

Manguirish Pai Raiker, past President of Goa Chamber of Commerce & Industry is now on the Federation of Indian Chambers of Commerce & Industry (FICCI) National Executive Committee, being nominated for the current year. He is also on the National Industry Committee. Known for his experience in the field and his forthright approach, has taken up several issues with the Ministries of Finance, Industry and Commerce. He is responsible for resolving many grievances of the industry through his persuasiveness. Manguirish is a prominent business figure in Goa and was the director of the Goa Handicrafts Rural and Small Scale Industries Development Corporation (GHRSSIDC). His appointment is hailed by the industry representatives and is a feather in the cap for Goa as he is the first Goan to be on the national committee of FICCI

Mahesh Pai first to qualify in Goa for TOT

Top of the Table (TOT) is an exclusive form for the world’s most successful financial services professionals. Mahesh Pai has successfully qualified for this group and is one of the few financial services professionals from Panaji to get this international recognition. As a member of this select group, Pai gets access to all international trainings, networking, meetings and development programs. An expert in the field of finance and business consultancy, he 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

150 1. TI Cycles of India Limited, Madras is part of which South-India based business group? 2. Launched in 1967, this was the first gel toothpaste in the world 3. Which company announced a strategic partnership with design brand Sabyasachi by signing a definitive agreement for acquiring 51% stake in the brand? 4. In 2016, which media group launched ‘Mundo’, a Spanish-language Bollywood movie channel targeting Latin America? 5. Established in 1991, under what brand name does Mohan Clothing Co. Pvt Ltd market suits and blazers? 6. Omkar Sigh Kanwar is the head honcho of which tyre manufacturer? 7. Which brand of whiskey produced in Lychurg, Tennessee, USA has been owned by the Brown-Forman Corporation since 1956? 8. Which publishing house was founded by Durga Raghunath and Chiki Sarkar in September 2015? 9. Identify this newsmaker Answers to BG Quiz 149: 1.Brylcreem 2.Seattle 3.Howard Schultz 4.Cars24 5.Jaago Re 6.Wipro 7.Ekart 8. Wadia Group 9.Qimat Rai Gupta Email your answers to businessgoa.media@gmail.com First all correct entry will get 1 year’s subscription to Business Goa

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