Business Goa January 2023

name synonymous with the ever-growing wedding industry, Shruti Tiwari lays bare her journey of establishing VLW Global and becoming the most sought-after wedding planner in Goa

Cover Story Focus Goa: Union Budget

Shree Mahalakshmi Damodar Prasanna

#SaveMhadei

the Mhadei, which provides water to Goa. If the neighbouring state is successful in making these projects a reality, Goa will suffer from an acute water shortage.

Publisher

& Editor Harshvardhan Bhatkuly

Although it is the smallest state, Goa is drained by 11 rivers, with around 50 tributaries, with Zuari and Mandovi being the biggest rivers, making them the lifeline of the state. The Mhadei flows through Goa and other forests along the way. If the Mhadei begins to dry up, it will lead to the erosion of Goa as the ecological balance of the state will be totally demolished.

The monsoon season in Goa starts in June and goes on to September. The rain water flows down into the coastal plains and has to last the state for the rest of the year. Goa has porous laterite soil and a terrain which sees faster surface run-off, making perennial rivers even more vital for life.

The past few years has seen Goa increase its population thanks to inter-state migration which has only put a burden on its existing resources. Growth of tourism has put added strain on ground water resources. Goa’s rivers being tidal, see an increase in the saline content during the hot summer months lasting from March to May. If the Mhadei waters are diverted, the increase in salinity will be seen during the other months, too.

In 1998, the master plan that was prepared shows that Mhadei is a water deficit basin and there was little to no scope for diversion of water. Inspite of this, Karnataka plans to undertake numerous projects which include damming and diverting various tributaries of

Although the Environment Ministry has directed Karnataka to obtain clearances from the Wildlife and Forest Departments, before commencing of any work, the Environment Ministry has chosen to ignore the existence of the Mhadei Wildlife Sanctuary of Goa, which is just 231.3 metre away from the proposed Kalasa Dam site in Karnataka.

Political parties in Goa are divided over the issue and a concrete solution is yet to be found. In the fight between both States the only ones to suffer will be the ecosystem and the people of Goa.

While the government with an overwhelming majority in the Legislative Assembly, has been decrying the so called ‘politicisation’ of the Mhadei issue; the fractured opposition has, barring a few notable exceptions, been unable to put the government on the mat. With regards to their personal opinions and sympathies, many ruling party legislators are privately in sync with the idea of saving Mhadei. But party compulsions impose on them the onerous task of taking a more agnostic stand with regards to the river. Similar fears were in place five years ago, when Karnataka went to Assembly elections. This time around, the story is the same as the neighbouring state goes to polls – and Mhadei becomes an opportune issue to drum up votes.

Politics notwithstanding, Mhadei is a survival issue for Goa and Goans. It is time to rise above all considerations and put up a united resistance against the plans to divert the river and let us save the future of Goa, lest it is pushed into an abyss of doom

06 | BUSINESS GOA INDUSTRY DOSSIER | JANUARY 2023

It is the start of a new year and we are greeted with bleak news that the Central Water Commission has approved Karnataka's Revised Detailed Project Report (DPR). Citizens have been up in arms about the decision and Goa has been seeing various protests all over with political parties playing the blame game while it appears that the government is doing precious little besides rhetoric

IIT Goa to research on cost effective, faster detection of HIV, tuberculosis

The Indian Institute of Technology (IIT) Goa has signed a Memorandum of Understanding (MOU) with Sciverse Solutions to design, develop, and manufacture Labon-a-Chip (LOC) and IVD microfluidics technologies capable of providing rapid, lowcost, highly specific detection of infectious diseases such as HIV and tuberculosis (TB).

Sciverse and Mylab are working to create advanced and low-cost artificial intelligencebased microfluidic platforms

and invitro-diagnostic (IVD) laboratory devices.

Bidhan Pramanick, assistant professor at IIT Goa’s School of Electrical Sciences, will be the principal investigator under this MoU and will lead the

Efforts on to reduce Goa Taxi fare apps, says Government

Rohan Khaunte, and the Minister of Transportation, Mauvin Godinho.

institute’s collaboration. He has been involved in this research for over 15 years.

“IIT Goa has signed several Memorandums of Understanding (MOUs) with industry, academia, and national research and development laboratories, both in India and abroad for student and faculty exchange, as well as joint academic and research activities to impact society, the environment, and to address global challenges.

Point-of-care diagnostic

testing provides immediate, actionable results while bringing healthcare closer to the people, particularly in resource-constrained settings”, said B K Mishra, director of IIT Goa.

As a result, Mishra believes it is critical to develop novel methods such as microfluidics and LOC systems, which reduce the time between detection and clinical treatment and can be especially beneficial in areas with limited health-care resources

Mines Department to undertake iron ore dump profile study of rejected material

To decrease the total amount paid by tourists, the state government has requested that Goa Electronic Ltd lessen service fees collected through the Goa Taxi app. The choice was taken during a meeting held recently to review how the Manohar International Airport in Mopa is operating.

After watching the early operational issues the new airport has had, the government made the decision to streamline both the internal and external operations of the new Airport.

The meeting was presided over by Chief Minister Dr. Pramod Sawant, and participants included the GMR Company, Tourism Minister

The Tourism Minister stated that the meeting decided to take action to streamline operations within and outside the new airport. Topics like internet access, taxi rates, and logistics were discussed at the discussion.

According to Khaunte, the Chief Minister ordered GMR and other relevant agencies to take action to upgrade the airport’s facilities.

“As GoaMiles cabbies operate on a competitive rate basis, their taxi rates are currently lower than those of Goa Taxi. The tariffs announced by the Department of Transport are used by Goa Taxi, in contrast”, Khaunte said. Up till things attain normalcy, the government will engage in monthly review sessions to discuss how the Mopa airport is functioning

In an effort to promote hinterland tourism, the Goa Tourism Development Corporation (GTDC) has launched the Mayem Lake Special Tour, which allows tourists to visit Goa's temples and participate in adventure sports. GTDC launched its first tour trip. According to GTDC officials, the tour will run every

To ascertain the profiling of rejected material, the Directorate of Mines and Geology (DMG) will soon conduct an iron ore dump profile research. The Directorate has started the process of drafting a policy to conduct dump mining in the State in the interim.

The action was taken after the Supreme Court granted Goa permission to manage iron ore dumps in an order dated December 13, 2022, lifting a 2012 prohibition on the practise. According to government records, there are 313 dumps in the State of varied sizes, with a total estimated quantity of 733.72 million tonnes, based on estimates made by the lease holders in 2010.

A total of 139 mining dumps are located on forest

Saturday from the GTDC's Mapusa Residency hotel.

The tour will include Mayem Lake, Rudreshwar Temple, Harvalem waterfall and Pandava Caves, Vithal Temple Sanquelim, Saptakoteshwar Temple, Narve, and Dr Salim

land, of which 95 are in South Goa and 44 in North Goa. This represents over 40% of the state’s total iron ore dumps.

A new strategy for handling mining wastes outside and inside leases through auctioning by the state government and allowing lessees to handle the dumps to re-launch mining activities in the state received government approval in December 2021, ahead of the 2022 assembly elections. The Directorate had said that around 20 million tonnes of iron ore is lying in the form of dump and can be exported for next four to five years.

The state government, through the policy, wanted to permit handling of lowgrade iron ore generated from November 2007 to September 2012, before mining activities were shut in Goa

Ali Bird Sanctuary, Chorao. “Tourists will be able to see Goa’s hinterlands as well as some beautiful temples. During the tour, they can also participate in boating and bungee jumping activities at Mayem Lake”, the Tourism Department stated

GTDC starts weekly day trip for tourists

CORPO SCAN

MONTH LONG E-WASTE COLLECTION DRIVE FROM JANUARY 13

Goa is about to experience a significant push towards e-waste collection and will host ‘dump or donate,’ which is billed as the country’ s largest e-waste collection effort from January 13 to February 13.

Environment Minister Nilesh Cabral will formally inaugurate the month-long collecting drive at the VVM Shree Damodar College of Commerce and Economics, Margao, which will be managed by Lions International in collaboration with the Union Environment Ministry. India is the third-largest producer of e-waste in the world, which is important to highlight.

The ‘dump and donate’ campaign entails educating the

Goa startup portal to sport a new look

The Goa Startup Portal may soon have a new look thanks to the government’s recent announcement of a tender for its redesign. The Goa Start-up and IT Web portal development Request for Proposal document (RFP) released by the Info Tech Corporation of Goa Ltd. encourages businesses to submit bids, with the deadline for online submission of bids being the end of January 2023.

The chosen agency would be required to modify, migrate the existing data, support, and offer operation and maintenance services for the portal in accordance with the RFP specification.

Firms submitting bids for the project must have a minimum of five years of experience working on comparable projects for large corporations, government or semi-government organisations. Tender fees of `7,000 and processing fees of `23,000 must be submitted electronically through the website.

A `2 lakh EMD deposit is required from the bidder, and this money will be returned once the chosen agency has been appointed

public about e-waste and its detrimental effects on health and the environment through a variety of schools, institutions, and other channels. Lions International’s Erle Brito said that the push would take place in schools, colleges, businesses, panchayats, and municipalities.

In 2020–2021, more than 3.2 million tonnes of e-waste was generated. By 2050, the nation is anticipated to produce 161 million tonnes of e-waste. During the drive, people will be incentivised to donate their e-waste through emotional campaigns and corporate and school tie-ups.

The campaign will be activated across various districts of India and create a national impact in the process of e-waste management. Out of the gadgets collected, the usable and salvageable ones will be refurbished and donated for community education, while the e-waste that cannot be refurbished will be recycled to extract precious metals

Notification of Drone Policy opens up benefits for industry

The Goa Drone Policy 2022 was notified by the state government, paving the way for drone manufacturers and drone pilot training schools to apply for incentives under the Goa Startup Policy 2021 and the Goa Information Technology Policy 2018.

Young Innovator

Award

for

Class

5

to 10 announced by Goa State Innovation Council

The policy will be implemented by the Directorate of Information Technology, Electronics, and Communication through the Startup and IT Promotion Cell (SITPC).

“The policy has been adopted by the Government of Goa. This is issued with the approval of the council of ministers by circulation on December 16,” said director Praveen Volvotkar.

The Young Innovator Award 2022–23, which was created for students in Classes V–X, was announced by the Goa State Innovation Council (GSIC).

“Goa’s Young Innovator Award is an attempt to promote creativity and entrepreneurship among Goan students from an early age. Open to all schools across the state, the young innovator award gives the students an opportunity to come up with creative and original ideas and inventions having the potential to solve social, environmental and other pertinent problems,” said Jose Manuel Noronha, Chairman, GSIC. The competition will be open in two categories, firstly for the students studying in classes VIII to X; and for students studying in classes V to VII. In each category, the winners will earn cash awards in addition to mentoring and prototyping support to develop their innovation into a viable

product or solution.

The Prototyping Grant, a programme of the Council that offers financial assistance for the prototyping of technologybased innovative projects/ideas under the initiative of the Virtual Innovation Register (VIR), makes it affordable for students, startups, innovators, research faculty, and entrepreneurs who need the support to turn ideas into marketable products.

A total of 12 ideas have won the Prototyping Grant Scheme for the year 2022-23. These are for balanced piezoelectric microphone with phantompowered preamplifier, web or app-controlled tri-faced advertisement display-board system, smart broom, smart HPT, smart tumbler, smart baby feed bottle, retrofitting of 3-D printer for ready-to-serve baked cakes, plug and play device that can monitor vehicle performance, tracking, and other safety features

Companies that establish themselves in Goa will be eligible to apply for incentives under the Centre’s ProductionLinked Incentive (PLI) scheme for drones and drone components, which offers a 20% incentive to drone manufacturers.

Additionally, drones shall be the ‘primary emphasis area for the government’ in order to take advantage of any potential new incentives, according to the strategy.

The SITPC will form teams to put the drone policy into practise, coordinating with the Department of Civil Aviation and the Director General of Civil Aviation. Goa intends to promote the use of drones in mining, forestry, horticulture, healthcare, tourism, and delivery of citizen services. Goa aims to leverage the strategy to draw in business and produce qualified workers for the drone industry

A name synonymous with the ever-growing wedding industry in Goa, SHRUTI TIWARI lays bare her journey of establishing VLW Global and becoming the most sought-after wedding planner in the State, writes SYBIL RODRIGUES

The wedding season is upon us again which means tons of invites, parties, merrymaking and having your social media feed bombarded with pictures of happy couples, the bridal entourage, emotional family members and everything that constitutes a wedding.

How does one make a wedding day memorable without the hassle of running about and taking care of all the nitty-gritty? Hire a wedding planner. These days, societal expectations have raised the bar and have set high standards when it comes to celebrations, more so a wedding!

When it comes to planning a wedding, the name that pops in everyone’s mind is that of Shruti Tiwari and her company, VLW Global. Shruti believes that a wedding is not just about the event; instead, it is about working towards someone’s dreams and making sure that everything is right when they take their first step to a new beginning. “Event planning has helped me grow and has also helped me find my calling as a wedding planner early on in life,” she adds.

Childhood and Education

Shruti grew up in Jabalpur, Madhya Pradesh in a culturally and traditionally minded family who instilled in her

an appreciation for interpersonal connections. “Love, togetherness, and relationships are the cornerstones of life, as my parents have constantly instilled in me. This experience from my youth has stayed with me, and I credit them for inspiring me to pursue a career in wedding planning. From an early age, I had a strong desire to branch out and experience new things, always keeping an open mind and exploring new avenues of work.”

Shruti pursued her high school education from Christ Church Senior Secondary School. Thereafter, she

completed B.Com, followed by a degree in Mass Communication and Journalism. Shruti completed internships at several different media organisations including Aaj Tak and Dainik Jagran soon after finishing college to build her resume in the field of journalism. After a while, though, she realised that event management was where her passions truly lay, and made the decision to pursue a career in that area. This eventually led to the foundation of VLW Global.

However, destiny had other plans, and she ended up in the wedding business post

exploring the opportunities in media and PR. “After this, I developed a fondness for the wedding planning industry and shifted my career trajectory to concentrate on weddings exclusively. And here I am today!”

Goa’s natural beauty is what attracted Shruti and she shifted here in 2005. Much as it wasn’t in her plans to make a home in Goa she felt she had entered a new realm with the sunshine, sand and scenic beauty.

The Wedding Business

Shruti’s name is synonymous with bespoke destination weddings in Goa. The journey of entering this hectic but satisfying industry began when she realised that working in the media was not something that she was interested in doing for the rest of her life. “I decided early on that I would not enter the field of journalism as a profession. My lack of interest in the internship enabled me to zero down on a line of work that I was actually interested in pursuing as a career. As I enjoy party planning and coming up with new ideas for décor, I decided to pursue a career in event management. My journey was not an easy one and there were several obstacles that I faced. Balancing between my family life and professional

demands was not easy but I sailed through it with grace and I am proud of where I stand today,” she adds.

Shruti established VLW Global in January 2016 without much thought, all along being anxious about the whole process but feels that it was the best decision that she has ever made. “I worked my way up from co-ordinator to sales manager before realising that wedding planning was where my talents best fit in the event management field. My inclination for décor and my creative skills guided this decision of mine to start VLW Global.”

Planning Happily-Ever-Afters

The mission of VLW Global is to turn the dreams of a couple into a tangible reality by utilising the innovative capabilities of both the company and Shruti’s team. She goes on to elaborate about her company, “We manage everything from vendor management, to décor, the menu curation, photography, venue scouting and logistics. Every conceivable type of service – from the most basic to the most elaborate – is included among the offerings that we make available to our clients. We accommodate the couple’s every want, beginning with the rituals performed before the wedding and continuing through the reception that follows it.”

In a short span of six years, Shruti and her team have planned and executed a number of weddings. “We have planned everything from destination weddings, 2021 minimalist wedding trends, and stunning yet inexpensive weddings for those on a budget to my personal favourite, a LGBTQ wedding!

Weddings are special for us,

and I will always remember the wedding of my LGBTQ clients. Their wedding was a milestone for our firm as we strive to be an inclusive and progressive employer. They had a threeday wedding that became a social media phenomenon, and it exemplified to the world the importance they placed on family and friendship,” she mentions as she speaks on her favourite wedding memory.

Shruti is all praise for her team at VLW Global. “The people I work with at VLW have been my rock. Without them, I would never have made it this far, and I count my blessings every day that I get to do this work with such amazing people. They stay up all night with me to make sure that each wedding is beautiful and unique.”

Keeping up with wedding trends

In recent times, destination weddings have gained immense

popularity and couples are always looking out for new and exotic destinations for their big day. Goa has always been a favourite destination when it comes to such kind of celebrations. Shruti expresses her thoughts on what sets Goa apart from the rest of India. “Goa’s eclectic blend of old and new makes for one unforgettable party. It is more ideal for the increasingly common trend among urban Indian couples to choose for the more westernised concept of a beach wedding over a more traditional ceremony. Repeat visitors to Goa attest to the fact that the state’s ability to create lifelong memories makes it the ideal setting for celebrations of all kinds. Resorts in Goa have adapted over the years to meet the needs of couples from a wide variety of cultural backgrounds by providing a range of services and meals to suit their needs.”

Upcoming Projects

Being part of an industry that is never on time out, Shruti has a few upcoming projects in her kitty. “Despite our progress and the success of our past weddings, we are committed to expanding our horizons and tailoring each ceremony to the individual needs of the couple. VLW Global is getting ready to carry out and organise a number of impressive projects.”

Challenges and Roadblocks faced

Like every other business, the wedding industry was dealt a blow during the pandemic and weddings had to be scaled down. Shruti went through a rough patch having to rework her wedding packages to accommodate the needs and requirements of her clients. “Due to the pandemic, many engaged couples had to postpone or scale back their nuptials. As this was the new normal, weddings had to be postponed. We held smaller, more personal ceremonies in accordance to pandemic appropriateness. These policies halved wedding guest lists. Fewer wedding guests and postponed weddings were direct results of the pandemic and another challenge that we encountered.” Much as this was an unexpected setback, it did not deter and instead made Shruti adapt to the new normal. “The wedding market simply went on hiatus after the pandemic. While most large hotels were closed until mid-September 2020, we did a review and planned other wedding details. Because of safety rules, we pushed for smaller weddings. The few families who wanted to hold a grand party

chose

“Every client is new and with each new client we gain different experience with various perspective to achieve perfection. Truthfulness combined with a good moral compass is the key to achieving your goals”

boutique hotels like Postcard Hotels & Resorts and Montego Bay Beach Village. We also created wedding packages with hotels for the clientele.”

After sailing through all ups and downs in the wedding business, Shruti shares the lessons that she has learnt in this challenging yet exciting industry. “One of the biggest and most vital lessons learnt by me is that it is essential to cultivate healthy relationships with the people who you work with as a team. And not only your fellow employees, but also the businesses and creative vendors that are in competition with you! They are the driving force behind any event that you organise. If you approach everything in an honest and forthright manner, you will never fail to achieve your goals,” she says.

Upcoming Trends in the Wedding Industry

Speaking on the latest trends in the wedding industry, Shruti stresses on the fact that Indian weddings are recognised for their beautiful decorations, cultural depth, and happy environment. “Traditional Indian weddings are elegant. Smaller, more intimate weddings are a new trend. Instead of organising expensive parties, many couples are opting for private weddings. Personalisation of wedding services is another trend. A growing number of soon-toweds are working to create a memorable celebration that reflects their personalities.” She feels that in the next few years the wedding industry will just

keep on getting bigger. “Since the pandemic, more couples are opting for a destination wedding. New wedding-related businesses and design studios will likely open soon. There are several wedding event management companies which help in making weddings spectacular and destination weddings are among as the most popular as of now.”

Awards and Accolades

As a wedding planner Shruti says that her journey has not always been smooth sailing but she has had her fair share of rewards and honours over the years. “I have won a Bronze medal in the Wedding Celebration of the Year 2022 category at the Wow Awards Asia 2022. We also took home the Silver in this year’s Wedding Sutra Awards for ‘Best Wedding Planning’. The Who’s Who Award in Goa and the Business Goa Award for ‘Best Event Management Company of the Year’ in 2018, the Wedding Sutra Influencer

Award in 2019, and a Silver Trophy at the EMF Global Awards are few of the accolades that have been bestowed upon me and my business in recent times,” she adds proudly.

Mantra for Success

As a successful and established wedding planner, Shruti strongly believes that there is no single ‘success mantra’ that applies in all situations. “All that is needed is time, imagination, and patience. Every client is new and with each new client we gain different experience with various perspective to achieve perfection. Truthfulness combined with a good moral compass, in my view, is the key to achieving your goals.”

Driving Force

When Shruti is not planning weddings she loves to watch movies and listen to music. She also makes it a point to visit her family in Jabalpur. “My energy level always seems to get a boost after one of these

solitary journeys of mine.” Having spent the vast majority of her formative years and early adulthood in Jabalpur, Shruti's trips to visit the family provides her with the sufficient boost to take on her professional demands. “I come from a family of professionals and government officials; I am the first generation entrepreneur in my family who has established a business of her own; but spending time with my family is what gives me immense joy,” she says.

Future Plans

Shruti loves to go with the flow and feels that it is the best policy. “I have been making plans to accomplish manageable minigoals while also constantly setting new ones. In the future, I hope to not only lead my company to unprecedented heights of success, but to also individually transcend all of my previous achievements,” she says with her bright smile

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“The people I work with at VLW Global have been my rock. Without them, I would never have made it this far, and I count my blessings every day that I get to do this work with such amazing people. They stay up all night with me to make sure that each wedding is beautiful and unique”

GCCI submits Pre-Budget Memorandum to Nirmala Sitharaman

Around 50 suggestions/ recommendations have been made to the Memorandum signed by Ralph de Souza, President of GCCI under XII major heads.

GCCI have recommended the following suggestions in the pre-budget memorandum:-

I. Macro Level Reforms

1. Inclusion of natural gas under the Goods and Services Tax (GST) to avail input tax credit to industry and also to raise the share of the environmentfriendly fuel in India's energy basket.

2. Capital Gains provisions be simplified with 2 to 3 asset classes only, with the period of holding being 1 to 2 years for the respective asset classes. The rates of the long term capital gains could be in the range of 10% to 20% for such asset classes.

3. The Income Tax Department should draft a scheme wherein taxpayers should be given an option to pay advance tax on a monthly basis and exempted from the TDS provisions in the capacity of deductees.

4. TDS Wallet similar to banking payments wallet or similar to GST may be suitably implemented, wherein the electronic cash ledger takes into account any payment of challan for any accounting period or month.

5. GST Amnesty scheme be introduced to give relief to genuine and small taxpayers for smaller offenses and inadvertent errors. The scheme could provide an equitable solution to settle tax disputes and at the same time ensure that the Government recovers its revenues. It will also enable the trade to concentrate on business instead of litigation.

II. Rationalisation of Tax Rates and Threshold Limits

6. Simplifying, rationalising, and reducing personal tax rates for individuals. Further, the

standard deduction should be restored for employees opting the tax rates prescribed u/s 115BAC of the IT Act.

7. To bring parity as well as encourage individuals to collaborate, the tax rates for partnership firms and LLPs be reduced to 25%.

8. Increase in exemption limits of Standard deduction, Deduction under section 80C, Children Education Allowance, Children Hostel Expenditure Allowance, exemption limit for clubbing of minor’s income, Leave Encashment benefit, Interest on housing loan, Limit for Gifts, Contribution to PPF etc.

9. Limit for allowable remuneration for each of the working partner be changed at the rate of `2,50,000 per annum per partner or 90 percent of book profits whichever is higher for first `10,00,000 of book profits and 75 percent of the remaining book profits.

10. Interest on all types of deposits (including fixed deposit interest) be included within the scope of section 80TTA.

III. Suggestions Relating to Tourism Sector

11. Hotels be allowed to charge

Integrated Goods and Services Tax (IGST) that will enable seamless availability of credit to all travel agents and tour operators, and will thereby build a sustainable domestic meetings and conventions business within the country.

12. Restaurants should be given an option to choose between charging of 5% GST without ITC or charging GST at 12% with ITC benefit.

13. To give a boost to the tourism sector and make travel more affordable, GST on all accommodation services should be at a single rate of 12%.

IV. Suggestions Relating to Real Estate Sector

14. To avoid undue hardship to the real estate players who are not able to sell the units despite their best efforts, the period of 2 years should be extended to 5 years from receipt of occupation certificate for holding unsold inventory before attracting notional interest.

15. Input Tax Credit (ITC) be allowed to reduce tax burden on the developers. This will enable developers the room to lower end-user prices.

V. Suggestions relating to Startups

16. To provide benefits to new startups, it is suggested to extend the period of incorporation for another 3 years, i.e., startups incorporated till April 1, 2026, and also to extend the date of transfer of residential property by eligible start up under Section 54GB.

VI. Addressing litigative issues

17. The Government expedites the setting up of Tribunals so that the litigation at various courts gets consolidated at one forum.

18. All expenses related to CSR be fully allowed as deduction u/s 37 of the Income Tax Act, since the Income Tax already allows certain CSR expenditure

as a deduction as eligible under Section 35/35AC etc. of the Income Tax Act. It is further suggested that this deduction be available to the assessees under the old as well as new taxation scheme.

19. The income tax law should be suitably amended to allow deduction for employees’ contribution to ESIC and PF if paid before the due date of filing of income tax returns.

20. TDS rate on professional services should be reduced to 2% to avoid characterisation disputes between fees for technical services and fees for professional services.

21. As a broader measure to simplify TDS compliance, the disparity in TDS rates for payments to residents under different provisions be eliminated and a uniform TDS rate be provided for all payments to residents to avoid characterisation disputes.

22. Any amendments impacting computation of total income and creating additional tax burden on taxpayers by Finance Bill 2023 should be made with prospective effect from A.Y.2024-25 and not from A.Y. 2023-24.

VII. Suggestions for Ease of Doing Business

23. The Government should decriminalise certain provisions of the GST law, The Government should raise the threshold limit for launching criminal proceedings and also revisit the current compounding provisions as well, so that the minor offenses are not penalised in a harsh manner.

24. It is suggested that all, or if not, at least the companies having turnover of less than one hundred crore be given the option to prepare their financial statements with the absolute figures, rather than rounding off the figures. This change would ease the process of preparation of accounts as well

Ahead of the Union Budget 2023-24, the GCCI Taxation Committee headed by CA Rohan Bhandare has submitted a detailed pre-budget memorandum on direct tax to Nirmala Sitharaman, Union Finance Minister, requesting for various concessions and reliefs

Nirmala Sitharaman

as preparation of returns under various laws.

25. In order to provide an ease of doing business as well as an ease of converting into an LLP, the threshold limits of turnover and total assets should ideally be removed or increased at least to `10 crores and `20 crores respectively by amending section 47(xiiib)

26. Withdrawal of provisions under Section 194Q pertaining to TDS in respect of purchase of Goods.

27. Tax be deducted at specified rates say 10 or 15% on payments made by an approved superannuation trust to employees (in circumstances other than referred in 10(13).

28. The limit of `30,000/- under section 194c may be increased to `75,000/- for single contract transaction and `1,00,000/- to `3,00,000/- for aggregate of contract payments.

29. Request to do away with filing of additional forms along with ITR for special rates (Section 115BA /115BAA/115BAC/115BAD)

29. The clause (ba) of section 12A (1) be suitably amended to provide for condonation of delay in case a reasonable cause is provided by the concerned trust.

30. Similar to the NIL Returns under GST law, a single click option to be made available to those with income below taxable limit to visit the website and file a declaration that their taxable income is below the basic threshold limit and that they do not need to file the tax returns. That will go a long way in ease of compliance for such taxpayers.

31. Extension of due dates every year is not a sustainable solution for the stakeholders and industry at large. Thus, a suitable amendment be made in the Income Tax Act allowing return of Non-Audit Cases up to 31st August every year. Further, in case of refund cases, no penal interest under Section 234A should be charged since there is no loss to the Tax Department.

32. It is suggested to amend section 54EC so that time limit

for investment in specified bonds may be allowed up to the due date of filing of ITR instead of 06 months. Further, it is suggested that the said limit of `50 Lakhs may be raised to `1.50 crore.

VIII. Business and Profession: Expenditure & Deductions

33. The Fees paid to Registrar of Companies for increase in authorised capital may be allowed as revenue expenditure in 5 equal instalments.

34. In line with section 40(a)(ia) of the Act, it is recommended that Section 40(a)(i) should also be amended restricting the disallowance to 30 percent of the amount of expenditure to non-resident.

35. The benefit of section 44AD be made available to LLP.

36. Suitable amendment may be made to sub section 4 of Section 44AD to bring about an ease of doing business for small taxpayers.

37. The estimated rate of income @50% of the total gross receipts may be reduced to 30% considering the high cost of providing the services by specified professionals.

IX. Dividends

38. To reduce the impact of double taxation as well as encourage corporate structure of businesses, the rate of dividend taxation in the hands of resident investors/ shareholders may be kept at a flat rate of 10 %.

X. Suggestions Relating to Interest & Penalties

39. Sec 201(1A) be amended to provide for interest only for the period of delay in deposit of TDS. Suitable changes may also be made in the TDS utility adopted by the Central Processing Centre (CPC).

40. The threshold for payment of advance tax be increased from the present `10,000 to `1,00,000. The requirement to pay 15% advance tax by 15th June for non-corporate assesses be removed.

41. The calculation of interest under section 234A should

start only after the revised due dates and not original due dates.

42. No fee should be charged from a person who files the return of income beyond the normal time limit and in whose case, a refund is due as per the return filed.

43. A unified rate of interest be prescribed both for delayed tax payments and refund cases.

XI. Addressing Processing Issues

44. a) It is suggested that rule 37BA(3) be amended, to provide that the credit for TDS be allowed in the assessment year immediately following the financial year in which the tax has been deducted at source b) Rule 37BA(3) be amended to the extent that in case of default on the part of the deductor for non deposit of tax deducted at source, the deductee should not be denied the credit of such tax deducted and the refund should also be allowed to the deductee.

c) It is requested to make

suitable process in place so that the CPC while processing Intimation Order u/s 143(1) considers the TDS Credit Amount reported in the ITR filed by the assessee as “brought forward from earlier year” and allows the same.

XII- Other Matters

45. Ammendments be made to Section 153(3) to specify time limit for passing ‘order-givingeffect’ to order under section 250

46. Deletion of the words “the loss shall not include depreciation” from section 115 JB.

47. Changing the word “and” in 194Q(5) to “or”.

48. Duplication in GST details in income tax forms (serial no. 44 in the tax audit form) be withdrawn as GST returns and audit format are already seeking similar information.

49. Relaxation for E-filing of form 10F by Non-residents

Goa petitions Supreme Court against Karnataka for approval of project

By SYBIL RODRIGUES

The state government has filed an interlocutory application (IA) before the Supreme Court on the controversial Mhadei project. The interlocutory application has petitioned to grant stay on the approval granted by the Central Water Commission (CWC) to the Detailed Project Report (DPR) submitted by Karnataka for the diversion of the Mhadei River through the Kalasa-Banduri project.

The IA has prayed that directions be issued to Karnataka not to carry out any construction activities based on the DPR to the project. The application has requested for granting of stay on any construction that may be intended to be carried out by Karnataka.

It is expected that the state government will request the Supreme Court to list the matter for hearing as soon as possible, given its urgency.

Advocate General Devidas Pangam has informed that the major ground on which Goa would challenge the approval is that under Section 29 of the Wildlife Protection Act, there

In

is complete ban on diversion of water in the wildlife sanctuary for any purpose other than wildlife.

Further, he said the Mahadayi (Mhadei) Water Disputes Tribunal has itself directed that all the permissions, including the one from Chief Wildlife Warden, are required before carrying out any work in the Mhadei basin.

Adv. Pangam also stated that these are very strong grounds in Goa’s favour, and

notwithstanding the grant of any permission from the Centre, diversion of water cannot be carried out from the Mhadei basin more specifically in the Mhadei Wildlife Sanctuary.

The state government will approach all central agencies, including the CWC, and bring to their notice that the Mhadei water diversion is not possible in law, Adv. Pangam informed.

The Chief Wildlife Warden has already issued a show-cause notice and stop work order to the Karnataka government for

carrying out any work in the Mhadei basin.

It is important to note that a Goa government delegation led by Chief Minister Dr Pramod Sawant met Union Home Minister, Amit Shah and Union Jal Shakti Minister, Gajendra Singh Shekhawat urging them to withdraw the DPR approval. The delegation also demanded constitution of water management authority as per the award passed by the Mahadayi Interstate Water Disputes

Environmentalist Rajendra Kerkar warns Goa on the effects of diversion

Environmentalist Rajendra Kerkar has warned Goans, stating that they need to stay alert as Karnataka is planning to divert all tributaries of Mhadei flowing into Goa.

Kerkar stated that Goa needs the Mhadei Forest Tiger Reserve and other forests, hills, and rivers which are vital for existence of man and nature.

“Goans, including all our MLAs need to stay alert and understand the importance of the River Mhadei for the existence of Goa. Karnataka has plans to divert all tributaries of Mhadei flowing into Goa, including the Dudhsagar Khandepar River on which the Opa water treatment plant is

based.”

He has further said that a more detailed discussion is needed in Goa Assembly to understand the seriousness of the diversion.

MLAs,

River Mhadei for

existence of Goa. Karnataka has plans to divert all tributaries of Mhadei flowing into Goa, including the Dudhsagar Khandepar River on which the Opa water treatment plant is based,” warned Kerkar

Kerkar explained that due to the diversion, the sweet water ratio will reduce which will lead to an increase in the salinity of the river. This would further affect agriculture, fishing,

the flora and fauna of Goa. Kerkar also warned that future generations will suffer as there will be a deficit in the availability of sweet water. He said besides presenting scientific studies in the Supreme Court, Goa needs to declare Mhadei Wildlife Sanctuary as a Tiger Reserve. Excluding settlement areas, the other areas should be part of the Tiger Reserve. He said since 1973, there has been effort to divert Dudhsagar River, which was foiled at that time by then CM Shashikala Kakodkar. “We cannot sacrifice our forests for survival. We need water and oxygen and therefore Goans need to protect wild life, forest and hills,” Kerkar concluded

the Mhadei altercation with Karnataka, Goa has moved the Supreme Court and has filed an Interlocutory Application which seeks stay on CWC approval to project

“Goans, including all our

need to stay alert and understand the importance of the

the

Rajendra Kerkar

The interlocutory application before the Supreme Court has prayed that directions be issued to Karnataka not to carry out any construction activities based on the DPR to the project

Tourism Department to increase fees

By SYBIL RODRIGUES

As the December festivities have ended, the tourism department has deemed it fit to increase fees for different permissions to be sought by organisers during the peak season.

Meanwhile, the High Court of Bombay at Goa has given a rap on the knuckles to the Goa State Pollution Control Board and the Anjuna Police, for turning a deaf ear to the breach in noise pollution levels and not accepting responsibility when called out on their inaction

10% hike in fees for nod to Tourism Events

For major tourism-related events in Goa, fees payable to the Tourism Department requesting for various permissions, have been hiked by 10%.

The revised fees are applicable for events held during the tourist season

only. As per the revised fee structure, the following fees are applicable.

For music festivals organised in non-licensed premises during the tourist season-for up to 5000 attendees-the said fee is `10 lakh (existing) plus 10% increase; for 5,000 to 10,000 attendees – `15 lakh (existing) plus 10% increase; above 10,000 attendees – `20 lakh (existing) plus 10% increase.

For night bazaars, the revised fee is `60,000 per season.

For events like motorbike weeks, car rallies, non-ticketed music fests, MICE, exhibitions and other tourism-related events like youth festivals, etc, the fees are `75,000 lump sum (subject to maximum 30 days of event period).

As per the revised fee structure, the off-season fees will be 1/5th of the season fees, while peak season fees would be five times of fees applicable

during season, excluding GST.

‘Peak season’ is defined as the period between December 20 and January 5 of any calendar year and off-season period is between June 1 and September 30 of any calendar year.

In the revised fee structure, no changes have however been made towards the security deposits to be paid to the tourism department.

Hotels fined `1 lakh each over non-registration

The Tourism Department has informed that a fine of `1 lakh has been imposed on owners/ hotelkeepers of 31 hospitality properties along the beach areas in North Goa for nonregistration/non-renewal of hotel/guesthouses under the Goa Registration of Tourist Trade Act, 1982.

The defaulters have been directed to deposit the fine in the government treasury within 30 days of the receipt of

order passed by the prescribed authority.

“In case of failure on their part to pay the fine imposed, the same shall be recovered as arrears of land revenue and the business shall be liable to be closed,” stated a press note from the Department.

“Furthermore, the prescribed authority shall proceed to seal the business premises and order disconnection of water and electric connection under Section 22(3) of the Goa Registration of Tourist Trade Act, 1982,” it added.

“In case the seal affixed by the prescribed authority is tampered with or damaged, the hotel keeper, as the case may be, shall be liable to pay additional fine of `10 lakh apart from further action under the provisions of the Indian Penal Code 1860 (Central Act 45 of 1860),” the Tourism Department said

Pollution Control Board to lodge complaint against Sunburn

GSPCB has decided to lodge a complaint after the High Court came down heavily on it in a PIL that alleged noise pollution

The Goa State Pollution Control Board (GSPCB) has decided to file criminal proceedings against organisers of Sunburn music festival held in December 2022, for violating noise rules.

In its 154th board meeting, the Board authorised its member secretary to file the criminal complaint against the organisers of the EDM festival.

GSPCB chairman Mahesh Patil went on record to state that the criminal case against Sunburn organisers will be filed immediately, adding that the Board, by way of penalising action, will also be retaining the `10 lakh security deposit of the EDM festival organisers towards forfeiture of the said deposit.

The High Court of Bombay at Goa had come down heavily against the GPSCB as well as the Goa Police as it was alleged that there was a violation of the Noise Pollution (Regulation and

Control) Rules 2000 during the EDM that was held at Vagator from 28th to 30th December 2022. Hence, the pollution board decided to instigate criminal proceedings against Sunburn as a response to the direction of the High Court. Though there was sufficient

evidence for launching a prosecution with regards to the blatant noise pollution at the three day festival, the Board as well as the police did not take any action.

The High Court had given the board time for complying with procedural formalities

before filing the case.

A Public Interest Litigation (PIL) came up for hearing in the High Court in which the GSPCB, Anjuna Police, State government, Sunburn organisers among others were named as respondents.

The PIL was filed by one

The Tourism Department has hiked fees for permissions during the peak season and imposed fines on those flouting rules

Pilerne Fire: High Level Committee formed to investigate cause

By SYBIL RODRIGUES

Amajor fire which broke out at the Berger Becker Coating Pvt Ltd situated in the Pilerne Industrial Estate has led the Home Department to form a high level committee to look into the cause of the fire and give their suggestions so as to avoid similar incidents in the future. The committee has been given a 15 day deadline to submit its report to the Government.

Chief Minister Dr Pramod Sawant announced that a team would be formed under the chairmanship of the North Goa Collector to look into the fire outbreak at the paint factory.

A seven member committee, has been formed, chaired under Mamu Hage, North Goa Collector, which includes Nitin Raikar, Director of Fire and Emergency Services; Shamila Monteiro, Member Secretary of Goa State Pollution Control Board; Mayur Hede, Superintendent Engineer of Electricity Department; Sohan Uskaikar, General Manager of Goa Industrial Development Corporation Ltd.; Anant Pangam, Senior Inspector of Factories and Boilers; and

Rajesh Sinary against the nine respondents and respondent number 10 Spacebound Web Lab Pvt Ltd, Mumbai, the company which secured the permissions to conduct the Sunburn EDM festival at Anjuna in December 2022.

The PIL complained over the arbitrary manner in which permission was granted to Sunburn for holding the EDM between 3.30 p.m. and 10 p.m.

The litigation further maintained that Sunburn held the EDM in violation of the permission and noise rules by brazenly exceeding the 55 decibel limit imposed in the permission.

The petition alleged that the GSPCB, which was one of the authorities to monitor noise

The main objective of the committee will be to find out how the fire started potential threats, and the reason for its spread. Also it should determine whether there was any wrongdoing and name the person or people accountable for the fire incident.

The committee has also requested for information whether all rules and regulations pertaining to security and fire safety were

A Public Interest Litigation (PIL) came up for hearing in the High Court in which GSPCB, Anjuna Police, State government, Sunburn organisers among others were named as respondents.

The PIL was filed by one Rajesh Sinary against the nine respondents and Spacebound Web Lab Pvt Ltd, Mumbai, the company which secured the permissions to conduct the Sunburn EDM festival in Anjuna in December 2022

pollution levels, was reluctant to take action despite brazen violation of the law.

The High Court, in its

in place and working properly as well as compliance with the safety guidelines for the storage of hazardous materials.

It will also inspect the extent of damage and any potential environmental effects caused by the fire. Further, the committee will also suggest any technical or operational measures and actions that should be taken to prevent similar incidents.

The Fire and Emergency Services will also be evaluated for its preparedness and determine whether sufficient

firefighting supplies and equipment were on hand at the time of the incident.

The Chief Minister has stated that the Goa State Pollution Control Board has been asked to study the area’s ambient air and water quality and submit a report.

Meanwhile, voices were raised in the State Legislative Assembly to relocate the plant from Pilerne Industrial Estate, when Calangute MLA Michael Lobo raised the issue in the House

order, mentioned that although there were police inspectors and four pollution board officials at the venue to ensure that noise decibels does not exceed the permissible limit, the enforcing authorities remained ‘mute spectators’; there was also ‘no remorse’ from both about failure to enforce the noise pollution orders.

Instead, the GSPCB and the Anjuna Police blamed each other during the court hearing. Going beyond the Sunburn festival, fingers have been pointed at Pollution Control Board officials.

“Unfortunately, the police authorities, GSPCB officials, The Collectors, or Deputy Collectors do not appear to be taking up the

issue of enforcement with the desired and expected level of seriousness (as was evident from the unfortunate blame game staged out in the open Court between the officials of the GSPCB and the Police). This means that the breach is apparent to the authorities, but no one was prepared to accept the responsibility,” the Court noted.

As per a Supreme Court ruling, violations of the noise pollution rules amount to breach of Article 21 (Right to Life) of the Constitution.

The High Court had said the order must be strictly observed in the state to save residents from suffering due to ear deafening music festivals and events

North Goa Collectorate to initiate detailed inquiry into major fire incident at Pilerne Industrial Estate

Vishwesh Karpe, Sub Divisional Police Officer, Porvorim.

The budding entrepreneur

By RAGESHREE DAS

Growing up in a family of entrepreneurs, Prajay Maganlal had been exposed to a variety of business ventures from a very young age. He stated, “I think entrepreneurship runs in our blood. Right from my great grandfather who came from East Africa to all the subsequent generations, everyone has successfully created a niche in their own line of business.”

Prajay mentions that he was never really one to sit in a classroom. He rather preferred to learn through experience. Hence, he decided to complete his graduation through correspondence while simultaneously pursuing a Company Secretary course. While studying remotely for these courses, he constantly dabbled in some side venture or other. One of his most memorable experiences was bar-tending at the then famous Ingo’s Saturday Night Market at Arpora for two entire seasons. This is where he got to meet people from all over the world and understand their different perspectives on life. His

primary focus was always on the family’s main retail business (Magsons Supercentre), which was expanding rapidly. After qualifying as a CS, Prajay briefly intended to take up a role as a professional but as fate would have it; he ended up remaining in the family business as the exposure he got was unparalleled.

Champagne and Cigars was launched in November 2022. Prajay decribes the marketing strategies used by this high-end store. He mentions that, cigars are a niche product, especially outside the developed world. They are also misunderstood. People often compare cigars with cigarettes, when in fact they are nothing like each other. You smoke a cigarette, whereas you taste a cigar.

A challenge that they constantly face is when marketing their products is that it falls under the Tobacco category and there are strict restrictions against promoting such products. Hence overt marketing efforts are extremely restrained, and they have to rely on word of mouth and

marquee events to promote their products.

Prajay is also very conscious about the people that he sells his products to. No one under the age of 18 is allowed to purchase a cigar from them. The entry range that he stocks starts around `750 per cigar and the premium range goes up to `6000 per cigar. Champagne and Cigars only sells premium 100% tobacco leaf, hand rolled cigars. This allows a wide spectrum of customers to come try out cigars, from first time novices wanting to experience their first taste to cigar veterans for whom it is a passion.

Prajay goes on to speak about the inspiration behind opening this store. He states, “We recently redeveloped the first ever Magsons store, which was at Miramar, into a mix-use complex and the project was completed in early 2022. We knew we had to have some presence of our own in the project, since we had such emotional attachment to the location. Rather than set up a usual supermarket, we decided to do something

niche, keeping with the entire premium elevation of the new building. While brainstorming, my father introduced me to Anish Trivedi, who is a cigar connoisseur. We discussed the business potential, and I was convinced that there was an opportunity available. Soon thereafter, I decided to open a boutique store which sells premium cigars and a wide range of alcohol and spirits from all over the world.”

Many people associate cigars with Cuba and not without good reason. Cuba was once the heartland of cigar making but since the Cuban revolution, many of the top cigar makers fled to newer countries such as Nicaragua, Honduras, Dominican Republic and the like. Today, these countries produce cigars which parallel and often surpass Cuban cigars in terms of taste, consistency, and quality. Champagne and Cigars stock cigars from all the ‘New World’ countries, as they are called, as well as the traditional Cubans.

The famous Cuban brands that the store stocks, are the Cohiba, Partagas, Montecristo, Romeo Y Julieta, among others. From among the New World cigars, the Rocky Patel series has some of the best cigars that one can lay their hands on. Prajay mentions that the store has exclusive distribution rights from their partners, Cigar Conexion, for the Rocky Patel and other New World cigars in Goa.

Apart from cigars, Champagne and Cigars also stocks a wide variety of exclusive Single Malts like the Paul John Mithuna, Aberlour, premium French gins, vodka, the original Bacardi from Cuba; and the entire range of Scotch and IMFL products.

Amongst the Cubans, the Romeo Y Julieta is the best selling, and it is his personal favourite, as well. Their Single Malts range also does

Prajay Maganlal’s venture, Champagne and Cigars offer an array of the world’s finest products

Prajay Maganlal

exceedingly well.

Since the store is located in a tourist stretch (Miramar Road), Prajay introduced products related to Goa, such as souvenirs and other accessories which are a hit with the tourists.

One major roadblock that he faces is, overcoming the taboo surrounding tobacco use and smoking. While he affirms that he definitely does not promote smoking, he believes that those looking to try cigars and for those whom cigar smoking is a habit, should have a space where they can come and be assured that they get a 100% genuine product. “There is so much fake stuff going around in the market. I ensure that all our stock comes through official sources only, with all the government mandated labels and tobacco warnings.”

Prajay points out that it is difficult to suggest a cigar that will sit with everyone’s tastes because each cigar has its own unique flavour profile. It is also

important to pair one’s cigar well, either with a single malt, rum or cognac. For those who don’t prefer alcohol, a good coffee or even a glass of water would do well. “Experienced cigar aficionados compare the experience of tasting a cigar to doing meditation, and I cannot really disagree with that. For those who do plan on purchasing their first cigar, just keep in mind that it is something to be savoured with good friends and a hearty conversation.” When asked about the response of the customers, Prajay

says, “Frankly, I have been happily surprised with the overwhelming response that the store has received. Initially there were doubts over whether this new concept would work because it is one of the few standalone cigar outlets in India, let alone Goa. It is clear now that there is a growing demand from people looking for new experiences as well as those who were regular smokers but had nowhere to buy cigars from.”

He further goes on to talk about his future plans and mentions that it is still a big

question as to where this path would lead to. He states that, “Just 6 months back I had absolutely no idea I would be here running my own store, selling cigars. It has been a great learning curve and I am very excited to see where this path leads. I am fortunate to have met some really amazing people during the last few months, over a cigar.”

The real challenge for him is to educate people. Prajay plans to host events for like-minded people in the hospitality business, where people can spread awareness amongst their target market.

Champagne and Cigars are also hosting a marquee event on the 26th of January, where he and his partners are bringing the cigar legend, Rocky Patel, himself to Goa. They will organise a meet and greet with his fans and fellow cigar aficionados and Rocky will personally autograph memorabilia

Looking beyond sand, surf and sea. Goa’s economic potential lies untapped

By NANDA (ANIL) S.N. COUNTO

Goa is on the threshold of growth. The Mopa airport that was recently inaugurated will boost tourism and cargo logistics in the state. The auctioning of Mining as per the latest advice of the Supreme Court, which was a long pending issue, appears to be on a path of resolution. The Government of Goa will earn fair amount of revenue from mining auction on an annual basis and export revenue on a per ton basis. Goa can arguably have the highest GDP as well as per capita income in India provided there is less political intervention and corruption.

In June 2012, when Manohar Parrikar took over the reign of Goa after the BJP got a decisive mandate and before the closure of mining in Goa; mining and hospitality were the two life-lines of the state on the economic front.

Since then, it is argued that the following industry verticals should be considered for a turnaround for a prosperous Goa on the economic front and outlined them in the order of preference. They are: mining, tourism and hospitality, knowledge economy, agriculture, horticulture and floriculture, pisciculture, animal husbandry and poultry, IT and IT-related ancillaries, pharmaceuticals, Mormugao

Port and Docks, renewable energy, and other industries.

The above industry verticals are divided into three main economic segments, viz. primary economic sector, secondary economic sector and tertiary economic sector.

However, covid-19 and the devastating closure of the entire mining sector changed the entire economic format of the state.

Businesses and industries were totally or partially hit resulting in diminished revenues to all business ventures as well as to the Government in terms of reduced taxes and revenues. The financial year of 2020-21 and 2021-22 have been totally disrupted by the fall in revenue in every business. Thus, two to three years more would be needed to make up for the shortfall.

Positive Growth Signs are seen and this is possible if and only if both the public and private sector players are in unison and with total cooperation. The government should mainly look after the governance, and the private enterprise should act and deliver the

Positive growth signs are seen and this is possible if and only if both the public and private sector actors are in unison and with total co-operation. The government should mainly look after the governance, and the private enterprise should act and deliver the goods responsibly. A sincere joint public-private sector participation and co-operation will help considerably

goods responsibly. A sincere joint public-private sector participation and co-operation will help considerably. Today, we cannot be dependent on the mining sector anymore due to the vagaries of the international market forces and because of the spike in export duty. The GOI, in principle, has decided to give more importance to local manufacturing of iron and steel through ‘Atmanirbhar Bharat.’ Henceforth, India has to develop the technology for iron-ore gradation to utilise

Goan iron ore as well as highgrade iron ore from other parts of the country for steel production and try to compete with China, which has mastered the technology to upgrade lowgrade iron ore.

In order to increase the GDP (Gross Domestic Product) or GVA (Gross Value Added), we have to concentrate on every economic sector viz Primary, Secondary, and Tertiary economy sectors.

The three should be given due importance in the following order: The primary sector which deals with raw materials, the secondary sector deals with manufacturing and the tertiary sector deals with services.

The primary economy sector in Goa has not been explored to its full potential.

As far as Goa is concerned, the primary economy can be categorised in the following industry verticals, which are agriculture, horticulture, floriculture, pisciculture, animal husbandry and poultry, forestry, and mining sector, mainly raw materials.

In the Secondary economy: The pharmaceutical industry and other large and MSME

In a detailed economic analysis, Anil Counto, Chairman and Managing Director at ALCON (Anil Counto Enterprises) elaborates on the current economic scenario in Goa and recommends solutions to pull out the state from its gripping economic crisis

Anil Counto

industries are situated in the government industrial estates i.e. all kinds of manufacturing industries can be included.

In the Tertiary economy: tourism, hospitality, information technology, knowledge economy, entertainment and finance, and all types of service industries are to be included.

The primary economy requires adequate attention and also tertiary economic sectors for the State’s GDP growth. The Secondary economy sector will definitely help as it is connected with all SMEs and also small and large manufacturing units. Growth and proper planning of primary and tertiary sectors can become a game-changer for employment which will boost the economy of the State.

Primary economy sector: 1. Agriculture: The Goa Government should come out with special incentive schemes for land owners, either to join together and bring at least 25 acres of land under one umbrella, by safeguarding the individual owners’ lien on the land and allow them to make some sort of consortium and convert this land for agricultural purpose to produce different agricultural products. Today, with digital advancement, and enabled ideas and new technology wide varieties of agricultural products can be grown, which enables forward integration and improves the growth of the secondary economic sector.

A special incentivised scheme can be drafted which could encourage tenanted land as well as uncultivated land, including orchard land, and encourage tenants and landowners to come together under a special scheme to allow such land to be leased to private entities, with clear and specific conditions so that the owner does not lose his / her right on land but also the tenants, as well as the land owners, get the benefits that their land is given for a productive cause. The Government of Goa or the

private sector should work out a credible scheme on the above lines.

2. Animal Husbandry and Poultry: This vertical can be handled in such a way that a special incentive scheme is worked out by the government so that many related products can be processed. The required attention and weightage has not been given to this primary economic sector. Collateral products and by-products from animal husbandry, especially from the cow and allied animals should be used for commercial purposes. 50% of milk requirement in Goa is being met from outside the state. The government says that this milk is adulterated and not good for consumption. Cow dung as well as cow urine and many other collateral by-products can boost Goa’s economy as well create more employment if proper attention is given and their use explored, professionally.

3. Forestry: Goa has significant forest area private as well as government which are approximately 34%. This is much higher compared to the forested area in the country. Yet, the forests do not yield any tangible benefits to the GDP and growth of Goa. A scheme has to be worked out without disturbing the delicate ecology and environment to make use of these areas for GDP as well as employment generation.

4. Fishing and Pisciculture: Goa has many rivers and rivulets and more than 150 kms of sea frontage. Special schemes

Growth and proper planning of primary and tertiary sectors can become a game-changer for employment which will boost Goa’s economy

may be provided to explore fishing in the inland waters as well seaward side. Again through this vertical of the primary economic sector, huge employment can be generated and use of latest technology to explore this industry for fishing and allied products can be done giving good results.

5. Floriculture and Horticulture: Goan land is the most ideal place for the growth of this industry viz Floriculture and Horticulture. Every day, tons of goods in this sector come to Goa from different places. The area by the side of roads can be developed for horticulture which will also beautify the roadsides and driving will be a pleasure. The hinterland can be used for horticulture – to grow different types of fruits and vegetables, which will help the secondary economic sector as a forward integration for canning and other types of industries.

6. Mining: Due to legal restrictions on extraction, sale/ export of iron ore, we may not be able to secure the same benefits which Goa used to get before the closure of the mining sector. The government can promote this sector as a raw materials provider for internal consumption in India and mining can be explored

within the strict framework of the Government of India and mining rules and regulations.

The Government of Goa should give importance and come out with some beneficial schemes for aggregate business, manganese business as well as special high-grade iron ore business. Goa Government, as well as Goans, should address this mining business differently and think of ‘out of the box’ solutions which are implementable.

Proper strategy should be adopted to use these raw materials for the upliftment of the secondary economic sector – is manufacturing as well as the growth of the tertiary economy, which is the service industry. Goa does not provide adequate raw materials which are normally required by the manufacturing industry, thus these are procurred from other parts of the country. Raw materials can be used by the industry for forward integration as an input to the state’s industry and finished products can be sold to other parts of the country if the product is in excess.

Borrowings and Debt

Goa is burdened with a huge debt of more than 20 thousand crores. Moreover, routine installment of compensation cess from the Central Government has also been discontinued and a recent working paper released by the Central Agency has stated that Goa, besides Punjab and Chattisgarh will have a serious financial crisis post stoppage of compensation cess under GST. Under such circumstances, it is high time that the state government and its people take urgent steps to revive and rejuvenate Goa’s economy

Disclaimer: As told to Rahul Laud, Associate Editor, Asian Lite. The article covers the Primary Economic Sector. The Secondary and Tertiary Economic Sectors will be covered in the next issue

A Story of Light and Fragrance

By SYBIL RODRIGUES

Krupa Kholkar was born in Mumbai, but grew up in Vadodara, Gujarat. She comes from a business family, but her mother’s side of the family has always been involved in various creative fields like cinematography, commercial art, architecture and so on.

Krupa studied for a Bachelor’s degree in Commerce and during her second year in college, she got interested in candle-making purely as a summer hobby. “I was so immersed in it, that I decided to learn the art and combine it with my business studies. First, I did a course in Mumbai to learn the very basics of candlemaking. I returned to Baroda and made a short and simple business plan and approached my father for a business loan of a mere `5,000 which was a big sum back then. He loaned me the amount with a commitment to repay the same with interest, within a span of one year. Hence, the journey to learn this business and the pursuit of my passion essentially began in the year 2000,” she adds.

Initially, Krupa invested in some supplies like moulds, wax, colour, etc. and made some unscented pillar candles with basic shapes. She put up an exhibition with the same at a local gallery which was owned by her father’s friend. “Back then, candles had one and only one use to most people – to be lit when there were power cuts. So to convince people to buy them as a piece of art or home décor was the biggest challenge. I was doing my major in marketing and used all my knowledge to promote my first exhibition. My friends and family were my biggest support and encouragement and the first exhibit was a sell-out. I was able to repay the loan to dad after a couple of exhibitions.

This gave me a lot of confidence and a boost to learn more indepth about the trade and craft. All of this was in the year 20002001.”

Krupa got married in 2002 and moved to Goa. Her brand, Lit n Glow Handmade Candles was set up in Goa. She continued to learn about making more evolved candles by researching books and learning through the internet. She invested time and money in research and development to get the right formula to make the most amazing-smelling scented candles.

Speaking on her marketing strategies to promote her brand, Krupa says, “I did various exhibitions in Goa as well, to market and sell candles under the brand name Lit n Glow Handmade Candles, with a promising punchline – ‘Made with Love in Goa’. The internet has been my biggest tool to promote my brand. I started with a Facebook page and then moved to Instagram.”

Krupa makes luxury scented candles in soywax, blended wax, bee wax, paraffin and gel wax.

She also makes pillar candles, but her love for scented candles in different jars and glasses is evident from her vast collection. “The coffee candles and cocktail candles that I make even look edible. During the festive season I make hand-painted tea light holders for Diwali, pumpkin vanilla scented candles for Halloween, gingersnap cookie, and cinnamon candles for Christmas with a festive look and feel to them, making them perfect home décor and gifting options.”

Krupa makes customised hampers for various occasions like house-warming, birthdays, wedding favours, baby showers and for corporate gifting as well.

Speaking on her vision for her brand Krupa adds, “My vision was to see my brand in

KRUPA KHOLKAR | LIT N GLOW HANDMADE CANDLES

Krupa Kholkar’s journey with Lit n Glow Handmade Candles is glowing with brightness

“I see our brand presence in Goa and people recognise Lit n Glow Candles which is amazing! I would love to take this brand beyond Goa so that we can sell all over the country and beyond”

Krupa Kholkar

stores across Goa... making it accessible for people to see them, smell them, and buy them easily. Last December, I tied up with a new upcoming lifestyle store in Utorda, ‘The Pomegranate Project.’ This gave my brand a wing in South Goa. The location of the store is apt as it is close to many luxury and boutique resorts making it perfect place for tourists to pick up gifts from Goa. Today, Lit n Glow is available at more than five stores across the state. We are stocked at Syne in Fontainhas, The Sage Co. at Patto, The Bougainvillea Lane in Panaji, Chafa store near the Panaji Church and Casa Macao in Nerul.”

Lit n Glow sources ingredients from across the country. A lot of the fragrances used were and are still sourced from abroad, as India has limited choices.

Apart from candles, Krupa also has other offerings like

scented wax melts which can be used in electric or traditional diffusers instead of conventional ones which work with oil and water. She waxes poetic about her Hang-a-Scent products. “Our scented wax melt is a better option which emits fragrance in any space. Our Hang-a-Scent products are liked by all our customers. These are all natural 100%

organic wardrobe fragrances. You just hang them in your closet or place them in drawers. Every time you open your closet or drawer you get an amazing whiff of your favourite fragrance.

Especially in Goa, where it rains for five months and humidity and dampness is high, our Hang-a-Scent products keeps clothes and wardrobes

smelling fresh. Each tablet lasts for about 3-4 months and later can be broken and used in diffusers.”

At first, Krupa would make these candles at home but with the business growing she moved to a bigger space in Ribandar. She has a workshop in their ancestral house and a small display for clients to see and choose the candles.

Krupa has had her fair share of roadblocks and difficulties right from finding the right source for raw materials as nothing is easily available in Goa, to marketing and selling her products. “But today, I see our brand presence in Goa and people recognise Lit n Glow Candles, this is amazing!”

Speaking on her future plans, Krupa says, “I would love to take this brand beyond Goa and we are launching our website and e-commerce platform, so that we can sell all over the country and beyond”

Saving Lives and Giving Hope

By SYBIL RODRIGUES

Dr Prashant Bhangui is the Associate Director, Hepatobiliary Surgery, and Liver Transplantation, at Medanta-The Medicity, Gurugram, Delhi NCR.

He was born and brought up in Panaji in a family of engineers, architects and a science graduate mother who was also a teacher. He was the younger among two siblings, and initially attended Rosary High School, Miramar and later went to People’s High School.

He completed his Higher Secondary from Dhempe College of Arts and Science; and ranked in the State Merit lists in the boards, both, at the 10th and 12th standard examination and then joined Goa Medical College in 1995. Dr Prashant graduated in M.B.B.S in 2000 and got selected for Masters in Surgery. He completed his MS (Surgery) in 2004 and secured the Goa University Gold Medal for securing first rank in the examination.

From a young age, Dr Prashant was involved in many co-curricular activities. “Many a times people would wonder how I would excel in academics while being involved in so many co-curricular activities,” he says.

He was a state champion in badminton for almost 10 years starting from the sub-junior level right up to the senior level. He represented Goa in the Nationals for quite a long period of time, and was ranked No.2 in India at the sub junior level.

Dr Prashant was also into public speaking, elocutions, and debates; and represented Goa to win the ‘Pride of the New Generation’ (PONG), Outstanding Public Speaker of India Award amongst more than 2000 contestants at the National Level. He then represented India at Japan as a Young Ambassador when he was pursuing his second year of

MBBS in 1997-98. Along with sports and other co-curricular activities, Dr Prashant was also General Secretary and President of the Goa Medical College Students Association and later the President of the Goa Association of Resident Doctors (GARD). Till 2005, he was in Goa; and then proceeded to New Delhi to pursue specialisation in GI Surgery. He was later presented with the ‘Goa Scholar’ Award by Goa Government under Chief Minister Manohar Parrikar, who introduced the scheme for the first time.

Dr Prashant was selected to pursue a Masters in Hepatobiliary Surgery and Liver Transplantation at the Henri Bismuth Hepatobiliary Institute, France. He was the first Indian to successfully complete the Masters program.

“I did my super specialisation in Hepatobiliary Surgery and Liver Transplantation in France from 2008 to 2010.

I then returned to India and have been at Medanta, Gurugram since then.

Currently, I am the Associate Director of the Institute of Liver Transplantation and Regenerative Medicine there, the Institute has

performed more than 3800 liver transplants till date, is the largest center in the country and is one of the most acclaimed programs for living donor liver transplantation worldwide,” says Dr. Prashant.

He feels that perhaps fate wanted him to become a surgeon. “When I was in the 11th standard I had a choice to either opt for biology or math. At that point I took both subjects and was working towards securing admission into IIT. I was interested in doing genetic engineering and I even applied for and got through to the final selections for the Rhodes scholarship to go to Oxford. But then, as fate would have it, I chose to go ahead with clinical medicine in Goa instead of engineering when I had to list my choice of a career in order of preference. I got into MBBS and I guess it was destiny that I became a doctor.”

After that, he was very much involved in medicine and when the choice was between choosing a medical or surgical branch for Post Graduation, he wanted to do something that would truly save lives. “In an emergency situation, it comes down to what a doctor

can actively do to save a life. In many instances, that doctor is a surgeon is what I believed, and that is one reason I chose surgery as my subject for specialisation. When it came down to a superspeciality, I was enthralled by the fact that the liver as an organ is so complex and that very few surgeons dare to touch it. One has to take extra steps forward in order to deal with its various complexities and that is what made me choose liver surgery and transplantation. I had seen people dying of liver failure with no much resource available to them during my MBBS and MS days in Goa, and even in New Delhi, things were difficult. I wanted to bring in some expertise from the ‘Mecca of Liver Surgery,’ France, back home, that was the driving force behind me pursuing further training in France, and then coming back to my country with the aim of doing something for the people here.” Dr Prashant had offers to stay back in France after he completed his Masters, but he chose to return in 2010 and practice here, as options for patients in this field were limited in India.

A doctor’s life, right from the time he chooses to enter the field of medicine, till the time he chooses his field of specialisation and super specialisation is something that is filled with effort, patience, and sometimes a lot of frustration, too. But when he gets through it all, it is about the pride and satisfaction which one gets when a life is saved. Dr Prashant recollects that the early years in the profession were only filled with books, studies, patients, and loads of hard work. “Having said that, I would find the time for co-curricular activities even in college; and continued representing Goa Medical College and Goa University in badminton, elocution, and quizzing. In short, the years between my 20s and 30s were a

Dr Prashant Bhangui elaborates on his life as a liver transplant surgeon and giving hope to people who require his services

Dr Prashant Bhangui

I like to create designs that break the barrier of body shapes and types: Philu Martins

By RAGESHREE DAS

Philu Martins, a renowned fashion designer, is known for her excellent portrayal of designs.

As a child she enjoyed the outdoors and was a tomboy. Since she was born and raised in Bombay, she always found Goa to be really fascinating whenever she visited. She states, “I enjoy the sea, beach, and trees, I often climbed coconut trees. I have even fallen down a few times, but it hasn’t prevented me from having a good time. As a result, being around nature was my first love.”

Starting out, Philu wasn’t sure if she was interested in fashion, but her father’s side of the family was into flower making. Her paternal grandfather made suits. As he lived in Bombay, he would create custom made suits for well-known actors like Rajesh Khanna and so on.

Like many other children, Philu used to play with sarees and dupattas. She was not aware that she had a liking towards fashion, but it caught her attention. When she was in college, she joined the medical field after finishing her 12th grade, but she didn’t enjoy it. She enrolled herself at the Belgaum Nehru University. Later, she discontinued her course and returned to finish her graduation in zoology. Her mother urged that she complete her master’s degree. However, Philu continued her education at Sophia’s College of Fashion Design, after that.

Philu then worked with Wendell Rodricks for two years up until launching her own label in the early 2000s. Regarding her hobbies, she enjoys dancing and singing as well as reading during her free time.

Philu spoke on choosing fashion design as a career

option. “As I said before, I never imagined I would pursue fashion designing because at the time, there were only three primary careers available to someone with strong academic credentials: doctor, engineer, and architect. I chose to pursue medicine because I did very well in school. Later, I understood that I did not enjoy it. I did not appreciate dissecting bodies since it made me queasy. I therefore left it. In the past, no one knew that fashion design was a job; instead, knowledge about this industry was only available through publications and newspapers, as opposed to today with the benefit of social media.”

Consequently, when she was in her final year, Wendell arrived. He had organised a massive show in Goa. She became quite interested by it and fell in love with this line of work. The Miss World and Miss Universe winners at the time,

Aishwarya

Sen, had a significant impact on her decision to pursue her aspirations. Since Bombay offered greater exposure and chances than Goa, she relocated there.

Philu goes back in time and mentions the early years in this profession. She stated, “I started out by working under Wendell Rodricks and experienced a great deal of exposure to celebrities and glamour. Later, I began working alone. My son was around a year old when I first started out on my own, and managing things at the time was really challenging. Finding the ideal fabrics, accessories, etc., was tough. Along with finding the right craftspeople to work with, who were experts in the use of the equipments, had to be the biggest challenge. But somehow, over time, I was able to build my own team, and I found myself working on a lot of custom clothing.”

When a designer first graduates and wants to establish their own brand, they first create a collection, sell it off the rack, and keep it in stock at several locations because it is less stressful. In Philu’s situation, Goa being a small place, she found that people prefer to have personalised clothing, with regards to important events. So, one thing naturally led to another. Word spread that people enjoyed her work, the creativity, and how she designed clothes for people with different body types. As a result, the designs were more enhancing and would make the subjects appear lovely and graceful.

Philu mentions certain things that excite her in this field. She says, “I believe something fresh is introduced each time; New colour, fabric and style. It is also lovely to witness the design come to life in physical form during the creative process. Hence, I love what I do for a living.”

There are a number of noteworthy memories in her kitty which she mentions with fondness. The most memorable might be when she made a wedding dress for Katrina Kaif for a movie. She had to take her measurements and design the gown. She was appreciated for her work and it is one of her favourite memories.

There are many painful memories too, but they taught her a few things, which she does not regret.

During her tough times her family helped her a lot. Just as soon as she left Wendell Rodricks in 2000, she was preoccupied with her son and had other obligations.

Philu says that she would rather quit her job and take care of her son for that reason. At that time her father-in-law had a garage and as a result, when they moved, they found

The fashion designer highlights her journey and the dogged pursuit of excellence that has seen her dominate her field

Philu Martins

Rai and Sushmita

the garage vacant. She sought permission from her family to start her workshop from the garage; and since then there was no looking back.

Philu started off with one machine, a table, and a few accessories that she had. Her husband gave her the first cheque of `10,000 as working capital. She left for Bombay with the sum, picked up some material and created around twelve ensembles. Later she invited her friends and they bought the collection for a very low price just to see how they felt in it. That is how the whole enterprise began for her, as the

blur of studies and activities for me.”

Over the years Dr Prashant has undertaken various procedures and interventions in his field of specialisation. He says, “There are two parts to what I do. Most of my time is taken up by liver transplant surgery and the other part is taken by non-transplant surgery of the liver. Liver transplantation encompasses all those patients who have liver failure and would die without a new liver. It is usually end stage liver disease and a transplant is necessary. Right from neonates who are two to three months old, to even people in their 70s, there can be a need for a liver transplant because of various causes. One can have end stage liver failure due to various etiologies and transplantation is the only thing that can save them. When you have a child who is going to die without a liver and we end up saving that child, it is very special for me. I have operated children from Goa as well, who were three months, a year, one of them was two, and they are all doing very well now. Some have begun going to school and have even finished their secondary education. All these cases are very special to me.”

The other speciality in which Dr. Prashant excels is hepatobiliary surgery. Some

word of mouth began to spread. Philu speaks on her future plans. She would like to cut down on her work load as she spends a lot of time with clients, and would like to make less of personalised clothing. If it is a bridal dress, the price can reach `1.2 lakhs. But for something like wedding gowns, it is fine to work with a client because it is an occasion to remember.

With regards to personalised clothing, she spends a lot of time meeting customers every day and designing for them. She therefore intends to create collections and market them initially throughout

patients suffering from liver cancer (which till recently was considered as end stage cancer) as well as non cancerous disease of the liver can be cured by surgery. “In my field, as far as cancer is concerned, I have involved myself in clinical research as well as clinical management of liver cancer patients over the last 15 years. My clinical research has led me to publish several key research papers in high index factor journals, for which I have been rewarded at the national and international level, as well.” The most challenging thing about his profession Dr Prashant says, is trying to achieve a work-life balance. “This is something that is really tough. When I talk about liver transplant surgery, it takes around 12-14 hours so your whole day goes into surgery. Later, there is post-op care, which is followed by patients becoming your extended family - calling up and confirming even about the smallest of ailments, medications. We have done around 3800 liver transplants at my centre so you can imagine the number of patients who need ongoing help. Amidst all this, trying to achieve a worklife balance is something that is very tough and it’s not always possible to do so.”

My wife has been a big support and a special partner. It is very difficult for a spouse to understand her husband

India. As of now she stocks her collections in numerous locations throughout Goa.

Philu shares the philosophy that keeps her going in a competitive field: “My mantra for success is firstly you have to love what you do. And secondly, you have to have to do it yourself. Like hard work. You have to put in your best effort mentally and intellectually, and give your best to whatever you do. One advice would be, don’t fear competition with others that is not even competition. When you are into a profession, the competition is with yourself. You cannot be the same person

being away from home for up to 16 hours and sometimes a few days also. But my wife, who herself is a Liver Transplant Anaesthesiologist, has stood by me for the last 15 years and continues doing so, and similar has been the support of my inlaws.

Apart from his professional life, there are a few other plans that keep Dr Prashant excited. “I would like to devote more time to my daughter who is soon going to enter her teens, and spend more time with family, something that I haven’t been able to do through the years. Also, training younger minds to excel in this field, and achieve even more than whatever little I have achieved in my career is something I enjoy doing. Later, I would like to get into more of academics where I get to train youngsters on various aspects of liver surgeries and transplant, as well as come back to Goa.”

Dr Prashant says that his parents have been a huge source of inspiration to him. “I feel parents have to be one’s backbone and be a huge support to their children. My mother was a central figure and my parents have supported me during my most difficult times. My father has always been a pillar of strength and inspiration, and my elder sister (who is an architect and urban designer) has always been very supportive right from the beginning. Secondly, my

you were yesterday. You have to better yourself every day.”

Lastly, she concludes with words of advice to new and aspiring designers. “This is such a lovely industry to get into. You meet new people, you tend to help a society by making them feel good about themselves, because when they wear a creative, beautiful outfit, they definitely develop confidence and feel good. One thing to keep in mind is that we all have to be down to earth, even though one has achieved success in this field. And lastly, love whatever it is that you are doing”

peers and mentors who have taught me everything. Though there are many, I would name Professor Henri Bismuth, one of my mentors, who is truly a pioneer and legend in the field of liver surgery and transplantation. I trained under him and many other surgeons in France and India, and he is someone who has been an inspiration to me, coming up with innovative methods and ideas in our field.

Regarding his future plans, Dr Prashant says, “I would like to continue with my work of saving lives. Next, I would like to train younger students to achieve academic excellence and reach a level where they are able to help patients who are suffering from liver diseases. Going forward, I’d like to continue giving my best to my home state as most of the patients from Goa who have had a liver transplant or complex liver surgery have been at my Institute. I would like to come back and continue helping patients in Goa especially those in need of my expertise. Finally, I would like to establish an institution of excellence in Goa for management of all types of liver diseases. I managed to get a super specialty block sanctioned for liver transplant in Goa Medical College with the help of the then Government in power, but it has yet to take off. This is something I envision for the future for Goa”

StartUp Accelerator Programs: A fast-track to business growth

The word ‘Startup’ brings to mind motivated entrepreneur/s with novel ideas and an innovative mindset, ready to build a new business and be successful. There is a journey to be made before a startup can achieve some degree of traction and move towards growth.

In the fertile entrepreneurial space today, accelerator programs have emerged as the much-needed boosters to the startup ecosystem. Accelerators are short-term intensive programs, that help early stage startups to engage in a set of activities and systems that drive growth in the shortest time possible. These programs are fast-paced and intensive and provide support with expert guidance, industry specific know-how, funding, market access and more.

India has become wellknown for its startup ecosystem and 2022 saw an addition of 23 $1Bn unicorn startups (as of September 2022)

Given the intense activity around this space, business accelerators and incubators, is aiding the cogent development of these businesses.

Accelerator Programs provide support to startups through funding, mentoring and training. Typically, their objectives are to aid the businesses to grow and turn profitable at the earliest; and start making a return on investment.

Business Acceleration Programs also furnish, along with equity investments:

1) Access to non-equity funding options.

2) Location and office for usage of the business.

3) Mentors to aid their development.

4) Network development avenues.

These Business Accelerator

programs normally range between 2 to 6 months. Some of them could even stretch up to a year. Some other support areas could include:

1) Development of skills by working alongside other similar businesses.

2) Immersion programs with other startups to learn and imbibe.

Accelerators can help fasttrack learning in a short period of time, thereby shortening the learning curve, with access to ideas that may otherwise take several years.

Here are the key areas that you need to evaluate if you are a startup looking to accelerate your business growth journey:

1. Evaluation of suitability based on the sector expertise that the Acceleration program provides.

2. Location suitability to test your product.

3. Evaluation of the business objectives that the accelerator program focuses on.

4. Access to larger markets via mentor connect and/or funding support

While accelerator programs provide value to startups at all stages of their growth, a lot of the programs are focused on the pre-revenue stage, thus providing a huge benefit at the beginning of a startup journey. Startups that want to join an accelerator program need to fulfill pre-determined criteria and post submitting their application they are invited to undertake the intensive program along with other

Startups that want to join an accelerator program need to fulfill pre-determined criteria and post submitting their application they are invited to undertake the intensive program along with other selected startups. Well-designed accelerator programs, designed by incubators with experience and reach, will ensure expert guest speakers, mentorship hours, access to shared co-working space and other facilities like a design lab, and conference/meeting rooms

selected startups. Welldesigned accelerator programs, designed by incubators with experience and reach, will ensure expert guest speakers, mentorship hours, access to shared co-working space and other facilities like a design lab, and conference/meeting rooms.

The Accelerator program usually concludes with a ‘Demo Day’, where the accelerated startups are invited to present their work and given valuable feedback.

In Goa for instance, FiiRE – Forum for Incubation, Innovation, Research, and Entrepreneurship, has announced its 2nd Cohort of the Goa Tourism Accelerator 2022. With a vision of helping Tourism Tech Startups to

take-off, FiiRE is amongst the premier TourismTech accelerators in Goa and pursues the objective of supporting tech founders to design and scale tourism tech innovations in various segments including sustainability, mobility, operational efficiency, new payment solutions, amongst others for future-proofing the travel, tourism, and hospitality industry.

Cohort 2 of The Goa Tourism Accelerator for 2022 is expected to provide an impetus to the tourism sector and empower its stakeholders. This 12-week accelerator program is designed to help redefine the Go-To-Market strategy for startups with some traction or apply their solution to the industry for the first time.

The first edition of the Accelerator program helped identify 14 startups which included names like Digitour, Momingly, Srishti Lifescience, Zodhya, Campper, Instio, Revio, Highway Delite, hav. life, Travstack, Offbeat Tracks, Lokaso Media, 10Times.

FiiRE combines its rich experience in startup incubation with industry experts in the field of tourism and tourism technology to provide a robust ecosystem for acceleration and support of TourismTech startups. In terms of collaborations in the TourismTech space, FiiRE supports startups with collaborations with organisations like Travel and Tourism Association of Goa, Startup Promotion Cell and NABARD.

Effective mentorship has been identified by FiiRE as the key element to help startups steer away from known challenges, test the viability of their tech solutions and guide business strategy

www. business goa.in

Forum for Innovation Incubation Research and Entrepreneurship (FiiRE) will be having its Cohort 2 of The Goa Tourism Accelerator and is expected to provide an impetus to the tourism sector and empower its stakeholders

Bringing MSMEs in Goa under one platform

Laghu Udyog Bharati’s (LUB)

Goa MSME Adhiveshan began with a thriving success with the participation of many enthusiastic entrepreneurs and business owners at the iconic Durbar Hall, Raj Bhavan, Dona Paula.

Featuring the presence of many dignitaries, sessions were conducted by Union Ministers and industry experts on MSME Policies, Business Branding Tools, Technology for Business Automation, Identifying Non-Conventional Sources of Finance, Why and How of Exports, Action Plans for Growth of MSMEs and Business Opportunities for MSMEs during Amritkaal, and much more in the presence of Dr. Pramod Sawant, Chief Minister of Goa; Narayan Rane, Union Minister for MSME; and Mauvin Godinho, Minister of Industries and Transportation (Goa).

The event commenced as per the timeline of the agenda in the presence of dignitaries with the launch of the Goa Unit of Laghu Udyog Bharati. The inaugural session began with the National President of LUB, Baldevbhai Prajapati, welcoming Union Minister Narayan Rane and Chief Minister Dr Pramod Sawant. He spoke about LUB's history, stating that it commenced in 1994 and with its consistent efforts the MSME Ministry was formed in 2002. Over the years, LUB has grown across the length and breadth of the nation with 789+ units across the country and a membership of over 41,000+MSMEs from every corner of India.

Live sessions were conducted by the Union Minister Narayan Rane, a network with 650+ MSMEs across Goa, sessions by industry experts on the latest

MSME policies, learning the latest in Technology for Business Automation, Simple Tools for Business Branding. The sessions of the speakers commenced with identifying non-conventional sources of finance, a panel discussion with industry leaders, business opportunities for MSMEs during Amritkaal and Ask the Experts.

Addressing entrepreneurs, business owners and other attendees, Narayan Rane, Union Minister for MSME stated, “It is truly wonderful to see this room full of people who share the same goals in becoming successful business leaders. It is a responsibility that necessitates that skills and knowledge of potential individuals; therefore, we are here to help MSMEs with enhanced networking opportunities for them to grow. We think that Goa is a state that has conquered and

will continue to conquer many business sectors, and now the MSME sector should blossom in all spheres. Goa relies heavily on tourism revenue, but now the emphasis needs to be placed on MSMEs.”

He further added that Goa has around 96% of the industries in the micro category and the state should now try to move them into the small industry sector during the next five years. A permanent industry is an absolute necessity for a state to generate stable income and urged the Goa government to formulate concrete plans to ensure that there is a booming industrial activity. Calling upon all stakeholders, Narayan Rane asked them to work together and instil vibrance in the state’s economy. He challenged all the micro industries to grow to small industries and all small industries to grow to medium, the Union

MSMEs in Goa are on the path of exponential growth with Laghu Udyog Bharati’s Goa MSME Adhiveshan

Chief Minister Dr Pramod Sawant delivers the welcome address

Minister said that

L to R: Rajkumar Kamat, Chief Minister Goa Dr Pramod Sawant, Union MSME Minister Narayan Rane and Vijay Dube, Executive Director, Punjab National Bank

L to R: Amit Kumar, co-founder MSMEX; Rajkumar Kamat, Mauvin Godinho, Aleixo Reginaldo Lourenco and Dr Rajat Srivastava, Regional Director EEPC, India

L to R: Harshvardhan Bhatkuly, Pravimal Abhishek (MD, GIDC), Ravindra Sonawane (National VP, LUB), Damodar Kochkar (GSIA President) and Bikram Kumar Sethy (AGM, SIDBI Goa)

although Goa has a high per capita income compared to other states, its citizens should be looking to match the levels attained by developed nations. To assist in faster growth of the MSMEs, Rane assured to establish a technology centre in South Goa.

Taking the vision of Swayampurna Goa forward, Chief Minister of Goa, Dr. Pramod Sawant, said “In order to establish numerous MSMEs that serve the needs of the Goan markets, we must import more in order to satisfy tourist demand. This will reduce our reliance on imports and provide Goan youth with employment opportunities.” He further said that Prime Minister Narendra Modi has announced this era as Amritkaal for the promotion of the MSMEs and it is the right time for Laghu Udyog Bharati to promote the causes of MSMEs, so that a better environment for them is created in Goa. Dr Sawant also assured that his government will take all the required efforts for the promotion of MSME’s in Goa. He also congratulated Rajkumar Kamat as being the founder president of the newly launched Goa Unit of Laghu Udyog Bharati.

Furthermore, the State President of LUB Goa Rajkumar Kamat, explained; “Being portrayed as a reliable stepping stone for all business owners in Goa and entrepreneurs present here, it is a true honour for LUB. Our sole objective on this day is to support the developmental growth of MSMEs in Goa and ensure that each of you leaves with a full web of knowledge which will be extremely helpful

to you and your business in the near future. The creation of a better environment for MSMEs in Goa is essential, and the government will support all efforts to promote MSMEs across the state.” He also added, while Goa State Industries Association (GSIA) and Goa Chamber of Commerce and Industries (GCCI), are doing a great job of engaging with the state government, there is a need to take up MSME related issues with the Central Government, as well.

The Goa unit of Laghu Udyog Bharati will be primarily focusing on this aspect as well as supporting the Growth of MSMEs in Goa.

Following are the Office Bearers of the newly formed Goa unit of Laghu Udyog Bharati: Rajkumar Kamat (State President); Manoj Patil (State Vice President); Arman Bankley (State Gen. Secretary); Mudit Agarwaal (State Jt. Secretary); Mandar Mhapsekar (State Treasurer)

Three industrialists recognised by the National office of LUB and awarded for: Shekhar Sardessai (MSME Inspiration Award); Damodar Kochkar (MSME Leadership Excellence Award); Pallavi Salgaocar (MSME Women Leadership Excellence Award).

The following sessions and panel discussions were held throughout the timeline of the event:

– Pre-inaugural and launch of Goa Unit of Laghu Udyog Bharati

– The inaugural with Narayan Rane, Dr. Pramod Sawant and other dignitaries - Ajay Thakur, Head of SME

and Startups at BSE India brought out and underlined points of growing through BSE SME IPO.

The MoU signing between Government of Goa and BSE SME. Nitin Kunkolienkar, President Emeritus, MAIT called attention to Amritkal Opportunities for Goan MSMEs.

Vijay Dube, Executive Director, Punjab National Bank and Principal Sponsor of Goa LUB addressed the Adhiveshan on the Role of Banking in MSME Growth.

Followed by the Goa MSME Inspiration and Excellence Awards and the MSME Woman Leadership Excellence Awards felicitated at the hands of the Union MSME Minister Narayan Rane and the Chief Minister of Goa, Dr Pramod Sawant.

The event then moved to its knowledge session starting with Amit Kumar, co-founder and CEO of MSMEx, serial entrepreneur and angel investor, where he highlighted the series of Unlocked 20x Value through Equity Fundraising.

Ameya Mohane, IIM Alumnus, and leading brand consultant with 15+ years of experience highlighted points on a brand weapon for SME growth.

Kewal Kishan, Business Administration Coach and TEDx speaker focused on points of anytime, anywhere Business Process Automation.

This was followed by a panel discussion moderated by Harshvardhan Bhatkuly, publisher-editor of Business Goa, along with panelists Damodar Kochkar (GSIA President), Pravimal Abhishek

(MD, GIDC), Ravindra Sonawane (National VP, LUB) and Bikram Kumar Sethy (AGM, SIDBI Goa) on the ‘Action Plan for Growth of MSMEs’.

Also, Dr. Rajat Srivastava, Director and Regional Head, EEPC India, Mumbai spoke about the why and how of exports

Nearing the end of the event, Alexio Lourenco, Chairman of GIDC, Guest of Honour shared a few words of admiration and the event concluded with Mauvin Godinho, Minister of Industries and Transport Goa, who was the Chief Guest, addressing the dignitaries and attendees in light of the initiative and interest in the Goa MSME Adhiveshan by LUB.

Godinho appreciated LUB for facilitating the MoU between Directorate of Industries, Government of Goa and BSE’s SME Stock Exchange which includes awareness creation and guidance to SME’s wishing to access equity funds through capital markets.

This approach would help SME’s unlock the value of their business created through hard work of multiple decades.

It would also help wealth creation and growth of business, said Godinho. He appealed to the MSMEs to derive benefit of this initiative.

LUB separately signed an MoU with MSMEx, an ed tech start up operating in the MSME domain, focusing on helping MSMEs work out growth strategies, system implementation, funds management and guiding on all co-lateral aspects

Lighting of the cermonial lamp; L to R: Arman Bankley, Manoj Patil, Ravindra Sonawane, Rajkumar Kamat, Baladev Prajapati, Ghanshyam Ojha, Mudit Agarwal, Mandar Mhapsekar

9th International Conference on Mathematics and Computing organised by BITS Pilani, K K Birla Goa Campus

Department of Mathematics at BITS Pilani, K K Birla Goa Campus organised the 9th International Conference on Mathematics and Computing, recently. The conference was first held in 2013 at the Haldia Institute of Technology, India. Subsequent editions were held at other reputed institutes like IIT (BHU),

KIIT - Bhubaneswar, Sikkim University, etc. This year the conference was conducted in hybrid mode. Over 60 students, research scholars and faculties from different parts of India participated in the conference at the venue, while 40 participated virtually. The proceedings of accepted papers of ICMC-2023 will

be published in Springer’s Lecture Notes in Networks and Systems (LNNNS) and sponsored by the Government agencies such as Science and Engineering Research Board (SERB), Defence Research and Development Organisation (DRDO), and National Board for Higher Mathematics (NBHM).

The ICMC-2023 brought together both novice and experienced scientists with developers, to meet new colleagues, collect new ideas and establish new co-operation between research groups and provide a platform for researchers from academia and industry to present their original work and exchange ideas, information, techniques, and applications in the field of Computational Applied Mathematics, including, but not limited to the broad topics of Operations Research, Numerical Analysis, Computational Fluid Mechanics, Soft Computing, Cryptology and Security Analysis, Image Processing, Big Data, Cloud Computing, Data Analytics, IoT, Pervasive Computing and other emerging areas of research

CELEBRITY CHEF ANTON MOSIMANN, VISITS VMSIIHE CAMPUS AT RAIA

Anton says, “I was given such a resounding welcome by the students and faculty of VMSIIHE that I even felt myself getting a little emotional. The students I have met here are eager to learn and have a sense of discipline which is so very important in the hospitality and culinary industry. Through my interaction with them, I hope to have been able to inspire them and give them a push in the right direction.”

It is not every day that a chef who has prepared meals for four US Presidents, four generations of the British royal family, visits a campus in Goa. But that’s exactly what the students of V. M. Salgaocar Institute of International Hospitality Education (VMSIIHE) experienced when Swiss Chef and restaurateur Anton Mosimann graced the VMSIIHE campus with his magic.

Chef Mosimann is most remembered for having curated the wedding banquet for Prince William and Kate Middleton in 2011. He also prepared

meals for 21 monarchs at Buckingham Palace for Queen Elizabeth’s Diamond Jubilee a few months later.

The awardee of the Swiss Culinary Merit of Honor 2021 was present at the VMSIIHE to share his insightful knowledge with the hospitality and culinary students and display the making of some of his unique recipes like Risotto ai funghi, Symphonie de fruits de Mer, Steamed fillet of seabass with sauce vierge.

“Indian cuisine will always have a special place in my heart. In fact, my favourite restaurant in London is all about Indian

food. People love how different it is and how its flavours stand out from other kinds of food.” says Chef Mosimann.

Taking Chef Mosimann on a spiritual and culinary journey through India, VMSIIHE welcomed him with a traditional aarti and had him indulge in a gastronomical fiesta of cuisines from multiple states titled ‘Indian Food Theatre’ at the gala dinner hosted by the Institute. Chefs and industry experts from all over the state were present at the dinner, making it a conglomeration of varying thoughts and opinions.

On his experience, Chef

Professor Irfan Mirza, Director and Principal of VMSIIHE says, “I wholeheartedly believe in learning by example and through this visit, we are giving our students an opportunity to meet and interact with a man who is a master at what he does and is one of the most inspiring figures I know. We are honoured to host Chef Mosimann and learn from his success and expertise.”

In 2016, a museum dedicated to his life and culinary arts was opened in the César Ritz Colleges, from where he had the opportunity to interact with VMSIIHE alumni

Participants with speakers and organisers of the Conference on Mathematics and Computing at BITS Pilani, K K Birla Goa Campus

(L-R) Dr. Marie Raj, Administrator VMSIIHE; Chef Anton Mosimann; Professor Irfan Mirza, Director and Principal of VMSIIHE during the lighting of the lamp ceremony

(L-R) Chef Anton Mosimann and Chef Sebastien Breitinger, Professor of culinary arts at VMSIIHE during the demonstration for VMSIIHE students

CRUSHING IT!

Crushing It! by Gary Vaynerchuk is a business book that shows you the steps to turn your passion into a career. It is a sequel to the author’s 2009 best-selling book Crush It! that encourages readers to create a personal brand online. Since the internet has evolved so much in less than a decade, he felt compelled to update his original book.

Gary’s unique perspective on what has changed and what has not shows why it is still true today. He also cited examples of how Crush It! concepts have helped other businesses become more successful than they ever dreamed imaginably. Here, we don’t only mean monetarily. He argued you could create a personal brand with the help of the internet. You’ll learn how to build a personal brand and use social media effectively. You’ll also discover ways to create engaging content and make money from it all.

In Crushing It!, Gary explains why that’s even more true today, offering his unique perspective on what has changed and what principles remain timeless. He also shares stories from other entrepreneurs who have grown wealthier and not just financially than they ever imagined possible by following Crush It! principles. The secret to their success (and Gary’s) has everything to do with their understanding of the social media platforms and their willingness to do whatever it took to make these tools work to their utmost potential. That’s what Crushing It! teaches readers to do. In this inspiring book, Gary dissects every

current major social media platform so that anyone, from a plumber to a professional ice skater, will know exactly how to amplify his or her personal brand on each.

Crushing It! is a state-of-the-art guide to building your own path to professional and financial success, but it’s not about getting rich. It’s a blueprint to living life on your own terms.

Gary is a BelarusianAmerican entrepreneur who is highly successful in multiple areas. He is a Times bestselling author, an in-demand public speaker and internet personality. He started his career as a wine critic, who expanded his family’s wine business considerably through the internet. He co-founded a restaurant reservation software company, Resy and Empathy Wines. Gary is a proven investor and advisor in the world of startups, and now an expert on the Fortune 500 world, through his work as CEO of Vaynermedia, a social media marketing agency

Gary is a BelarusianAmerican entrepreneur who is highly successful in multiple areas.

He is a Times bestselling author, an in-demand public speaker and internet personality

AUTHOR: GARY VAYNERCHUK | PUBLISHER: HARPER BUSINESS

Gary Vaynerchuk

Goa hosts 11th edition of DevFest

The 11th edition of DevFest was a perfect opportunity to network, learn and grow

Over 180 young techies, including professionals, women entrepreneurs, along with students connected at the DevFest Goa 2022. Google Developer Groups, Goa chapter hosted one of the most vibrant tech fests in Goa at Vivanta by Taj, Panjim, recently.

DevFest is the largest global, decentralised tech conference held across multiple locations by the local chapters of Google Developer Groups. The previous two years of DevFest happened online co-hosting with DevFest India, nationally; the annual event was conducted for the first time here since the pandemic began and aims to accelerate the growth of the tech community in Goa.

Being one of the most important events hosted by

GDG, the organiser Prajyot Mainkar and the team of 9 volunteers put their best foot forward and made this event a grand success.

The conference was attended by industry professionals, students from across colleges, entrepreneurs, and guest delegates from Pune, Gujarat, Bangalore, as well as parts of Karnataka, and the most significant uniting factor for all was the zeal and love for technology.

Over 18 industry experts deliberated on more than 14 technologies across two tracks. Prajyot the organiser, mentor, and advisor to the Google Developers Group stated “We have been working very closely with the developer community of Goa over the years. This

year’s theme was ‘inclusiveness and diversity’. With the growth of co-working, and work-fromanywhere culture growing across the world, it is a great opportunity for developers and students to explore interact and connect with the industry best’s via events such as Devfest. We want technology to be the new identity of the new-age Goa.”

“We are thrilled with the success of this year’s devfest,” said Ankita Mainkar – event co-organiser at the Devfest Goa “The turnout and level of engagement from attendees exceeded our expectations, and we are already planning for next year’s event.” The first talk of the day was delivered by Cherish Santoshi, DevRel Engineer, from ORKES, where he talked about Building Distributed

Applications at a faster rate. The event further continued with wonderful sessions on topics ranging from the growth of databases and mircroserves to building robust applications using Google’s products, including a community panel with the guests. Post lunch, the event was divided into two tracks, one focused on tech and the other focused on business.

DevFest ended on a thoughtful note by the organiser to make it even more fun, and memorable. In all, it was a great day with the perfect opportunity for developers to network, learn and grow. The event marks the beginning of a new era of community engagement in the developers’ community of Goa, brought forth by the organisers

Ayushi Gupta, Senior Software Engineer, Zalando, Berlin talking about remote configurations

Victor Hospital to launch new ward, emergency centre

The Victor Albuquerque Memorial Ward will be inaugurated at the hands of Margao MLA Digambar Kamat this month.

The 10-bed Victor Albuquerque Memorial Ward will provide free treatment to the poor and needy, especially those who are not able to afford treatment in private hospitals. The initiative is supported by Victor Medical and Research Foundation; the hospital charges will be waived off completely for those admitted to this ward.

The 10-bed state-of-theart emergency and trauma integrated centre, equipped with all diagnostic and treatment facilities, will be manned by emergency physicians round-the-clock and will be equipped to handle all

types of medical emergencies and has an attached minor OT/ procedure room.

The free multi-speciality medical centre is open for the general public from 10 am to 4 pm and would have specialties such as cardiology/cardiac surgery, neurosurgery, general medicine, diabetology, chest and respiratory medicine, laparoscopic and general surgery, gastroenterology, urology, nephrology, obstetrics and gynaecology, orthopaedic and joint replacement,

physiotherapy, diet and nutrition, cosmetic and plastic surgery, dermatology, dental/ maxillofacial surgery, ENT, and psychiatry.

Victor Hospital is a 150-bedded multi-specialty hospital with state-of-theart facilities providing comprehensive diagnostic, medical, surgical and emergency care of world-class standards with over 25 full-time specialists who are available around the clock.

The super-specialty

centres of excellence include facilities and services such as blood bank, CSSD, Dornier Sigma lithotripter, four operation theatres, a fullfledged laboratory, including histopathology, holmium laser, imaging services – Siemens CT, 1.5 Tesla MRI, x-ray, ultrasound, modern kitchen and cafeteria with diet plans, curated by a dietician and pharmacies. There are also inpatient and out-patient facilities and a cath lab pharmacy, Philips cath lab, a thirty-three-bedded, well-appointed ICU with 10 Maquet ventilators, Holter monitoring, ambulatory BP monitoring and an advanced life-support ambulance with 24X7 service. Victor Hospital is also empanelled with Deen Dayal Swasthya Seva Yojana (DDSSY)

Victor Hospital is all set to launch a new ward and a new emergency and trauma centre in memory of its founder Victor Albuquerque

Dr Robert Dcosta, Roana Costa, Digambar Kamat, Sylvia Albuquerque and Dr Rajesh Javherani

Winners of ‘Collect & Win’ Contest at Copperleaf, Goa

by congratulating the little ones and their families. He also thanked them for showing their patronage and loyalty towards the brand. He also mentioned various ongoing discounts such as discounts for armed forces and corporate programs running at Copperleaf along with other CSR activities.

Copperleaf, Goa’s well known restaurant, organised gift vouchers distribution ceremony for the ‘Collect & Win Contest’. A total of 419 families participated in the contest and 8 families completed the contest successfully. The ‘Collect & Win’ was an exciting contest for children below 12 years. The program was launched on 1st November and ended on 20th December. For every visit, the

kids were collecting magnets of each alphabet forming the word ‘COPPERLEAF’. The contest was to collect all ten letters in a series before 20th December.

The Winners of the ‘Collect & Win’ contest were Vallen A. Azavedo, Kayden Lanz Lobo, Aarush Mohit Kenny, Yuvaan Siddesh Gaonkar, Yuti Sanvordekar, Davis Lijo Daniel, Junia Sara Varghese, and Girish

Arun Chodankar. Each of the kids were presented with a memento cheque, gift vouchers worth `5000, and brand ambassador kit. The prize distribution was held in the presence of Copperleaf owners Shreekant Pai Bir, Sachin Pai Bir and Vishwanath Pai Bir. Shreekant Pai Bir, Chairman of Vishwamukta Group which owns and operates the brand Copperleaf addressed the guests

Sachin Pai Bir, CEO of Vishwamukta Group thanked all the winners and the team for motivating patrons to participate and complete the contest. Vishwanath Pai Bir, COO of Vishwamukta Group informed everyone that more such offers will be coming in the year 2023 and that they would be available for everyone. “On public demand, we are getting back ‘HAPPY HOUR’ in which customers would get 50% discount on all food and beverages between 7-8pm and this time it would be at both the locations – Panjim and Porvorim,” he said

BLive opens its first-ever store in Rourkela, the steel city of Odisha

it is `50,000. The scheme will be in place till December 31, 2025. In addition to the subsidy, the Odisha government has announced the exemption of registration fees and motor vehicle taxes on all categories of electric vehicles.

BLive, India’s fastest-growing multi-brand electric vehicle platform, has forayed into the state of Odisha with its first multi-brand experience store in Rourkela. The store was inaugurated in the presence of MLA Sarada Prasad Nayak and other dignitaries.

With a network of over 20 franchisee-owned stores, BLive has assisted over 2,500 families and businesses to switch to electric. The store has on display electric vehicles from renowned brands such as Kinetic Green, Hero Lector,

LML - Detel, Batt:re, Gemopia, Techo Electra, E-Motorrad, and others.

Samarth Kholkar, CEO & Co-Founder, BLive, said “We are excited to enter Odisha with our first-ever store in Rourkela. The store will provide people with the opportunity to ‘try and buy’ EVs for a confident transition to electric mobility. The store will also facilitate home demos and provide customers with information on exciting offers and easy finance options. In addition to providing a range

of environmental and economic benefits over conventional vehicles, electric vehicles are also powerful and reliable.”

According to its EV Policy announced in February last year, the Odisha government had said that it will provide a 15 per cent subsidy on the purchase of electric vehicles.

For two-wheelers, the subsidy will be 15 percent of the cost, up to a maximum of `5,000.

The cap on a 15 per cent subsidy for three-wheelers is `10,000, and for four-wheelers,

Commenting on the launch, the proprietor of the Blive store in Rourkela, Akshay Praharaj said, “We request people from all walks of life to visit the store and explore our range of electric vehicles, and learn about why electric mobility is the need of the hour.”

While speaking at the occasion, Sandeep Mukherjee, Co-Founder, BLive said, “While EVs are quickly gaining traction among the masses, there is mild apprehension about their performance and reliability, among consumers. We aim to debunk these myths by providing the consumers with a holistic ‘touch and try’ experience and negate apprehensions about switching to electric, if any”

Shreekant Pai Bir, Sachin Pai Bir, Vishwanath Pai Bir, owners of Copperleaf with the winners and Copperleaf Team

SKILL DEVELOPMENT AND ENTREPRENEURSIP DEVELOPMENT PROGRAM FOR WATERPROOFING & BUILDING MAINTENANCE PROFESSIONALS HELD

Construction Industry Development Council [CIDC] in association with Institute for International Talent Development, Private Limited [IITD], conducted a training and certification Course in Waterproofing Systems for Durable Buildings. The course will train waterproofing professionals and entrepreneurs to advance their skills in structural waterproofing. The main objective of the program was held to help participants’ up-skill or launch startups in waterproofing.

The program was inaugurated by Minister for PWD, Nilesh Cabral and Dr. P. R. Swarup, Director General, CIDC and Samir Surlaker, Director, IITD. Himanshu Kapadia, President, CCMA graced the occasion. The speakers motivated the attendees to be interactive, attentive and be a part of a new and Skilled India. Sunny

Surlaker, who conceptualised the program, started the technical sessions immediately thereafter. The program covered modern construction chemicals and techniques for waterproofing, concrete repairs, concrete protection, injection grouting and concrete technology. The highly interactive program covered theory as well as practical demonstrations.

The course offers a nationally recognised

Certification of Competency, conferred by the Construction Industry Development Council [CIDC]. CIDC, an apex body in the construction industry, was setup with the Planning Commission / Niti Aayog and works to develop the Indian Construction Industry. IITD is its training partner in the field of waterproofing. This program is a huge step in NSDC’s Skill India Program and seeks more participation from Goan entrepreneurs.

The various segments in the training program were covered by field experts. Sunny Surlaker covered concrete technology, waterproofing, repairs, and detailing.

Samir Surlaker, spoke about the industry, Robert D’Souza and Rajesh Prabhu discussed practical / challenging and case studies in injection grouting and joints. Prasad Bhobe and Shounak Vaigankar conducted practical demonstrations for using admixtures, repair systems, waterproofing and injection grouting. Sujay Surlaker, covered costing and estimation of various product systems. The highlight of the program was an International Trainer, Paulo Tsingos, an international expert geotechnical engineer and veteran in Injection Technologies from F. Willich, Germany, who trained participants in injection grouting

GCCI leads to create an inclusive system in employment for Persons with Disability

Purple Fest and hope that PwD in Goa reap benefit and gain skilful employment,” expresses Guruprasad Pawaskar, Commissioner for Persons with Disability.

Goa Chamber of Commerce and Industry has partnered with Purple Fest, as part of the programme, ‘Exploring Employment Opportunities for Persons with Disability in the Corporate Sector’. Along with Labour and Employment Department and Office of the State Commissioner of Persons with Disabilities in association with EnAble India, a series of Purple Think Tank sessions to deliberate on employment opportunities in the Government and private sectors.

The Office of the State

Commissioner of Persons with Disabilities (PwD) in association with EnAble India, an organisation working towards livelihood of Persons with Disabilities (PwD), Bengaluru organised a special session on Employment and Livelihood for Persons with Disabilities.

President of GCCI, Ralph de Souza stressed, “The time has come, albeit late, but we are now extremely serious about utilising various companies across industries in Goa to employ potentially skilled workforce from among Persons

with Disability. World over this inclusion is being incorporated, and it is time we come together to create a society with professionals, where disability will not be a barrier to jobs. This calls for a drastic change in India.”

“It is a step in the desired direction to provide employability to Persons with Disability as Goa’s premier non-profit business, support services, and networking organisation will take my mission forward in the corporate sector. I congratulate GCCI for partnering with

Siddharth Kuncoliencar, Chairman of Sanjay Centre for Special Education is elated that Purple Fest is happening in Goa. “It’s a platform that can propel our talented and skilled Persons with Disability to be productive in society at a workplace and live a happy live. This is a welcome initiative by EnAble India and GCCI.”

Shanti Raghavan, Founder and Chief Enabler, EnAble India said that “This event will enable companies to visualise their own journey of hiring and inclusion of persons with disability and will help them realise the immense possibilities that can unfold.”

This is a critical step towards creating awareness for all towards enabling livelihoods for persons with disability

(L-R): Sunny Surlaker, Sujay Surlaker, Samir Surlaker, Er.Nilesh Cabral, Paulo Tsingos, Dr. P R Swarup, Himanshu Kapadia

(L to R): Sanjay Amonkar, Shanti Raghavan, Guruprasad Pawaskar, Ralph De Sousa, Raju Gawas and Siddharth Kuncoliencar

Molbio launches MTB-INH test for drug resistance in TB patients

Molecular diagnostics company Molbio Diagnostics, having received approval from the Central Drugs Standard Control Organisation (CDSCO) and validation from the Indian Council of Medical Research (ICMR) to expand its multidrug resistant TB testing portfolio, is now planning to make it available at the existing 3,300 PHCs/CHCs across the country. Multi-drug resistant Mycobacterium tuberculosis (MDR-TB) has become a serious public health issue. Molbio’s Truenat platform that detects TB and Rifampicin resistance has now launched the MTB-INH test for detecting Isoniazid resistance which has become a growing challenge in treating the disease. However, the growing occurrence of Isoniazid mono-resistance is posing a major challenge to the treatment of Rifampicin Susceptible Isoniazid resistant (Hr-TB) patients who often

end up with treatment failure, relapse and develop further drug resistance. As per the National Strategic Plan (NSP) 2017-2025 for TB eradication, the Government of India has taken a policy decision to decentralise and democratise access to advanced rapid molecular diagnostics for TB by introducing Truenat® in every block of the country, as a replacement to the currently used smear microscopy.

Commenting on the

launch, CEO, founder, and director of Molbio Diagnostics Sriram Natarajan said, “The current launch of Truenat MTB-INH further strengthens Molbio’s product portfolio of providing complete testing solutions through the Truenat platform. Once introduced in all the blocks, every TB patient will have access to MDR TB testing at the same TB testing centre with reporting on the same day so correct treatment can also begin on the same day

thus enabling better treatment outcomes and bringing down the disease spread.”

CTO and director of Molbio Diagnostics Dr. Chandrasekhar Nair added, “Molecular methods such as Polymerase Chain Reaction (PCR) or Real-Time PCR are revolutionising disease diagnosis and management and Truenat has been a game changer in this regard as a point of care molecular platform that offers over 40 tests right at the point of need. The launch of the Truenat® MTB INH test is another milestone in our TB portfolio.” Truenat MTB-INH is also expected to play a major role internationally, in high TB-burden countries as well as countries that already have a policy in place for INH testing on all TB-positive samples. It is also expected to add to the arsenal of tests to combat the disease and strengthen the country’s aim to eliminate TB by 2025

APEEJAY SURRENDRA PARK HOTELS PARTNERS WITH TATA POWER TO DEPLOY EV INFRASTRUCTURE ACROSS INDIA

A

peejay Surrendra Park Hotels Limited is gearing up to roll out a nationwide sustainability initiative by catalysing electric vehicle (EV) adoption across cities.

All the brands under ASPHL (The Park Hotels, The Park Collection, Zone by The Park, and Zone Connect) are installing public charging infrastructure at the premises.

As part of the Company’s planet positive initiatives, ASPHL is working with Tata Power to incorporate these fleet-charging facilities for four wheelers, which makes the Group, one among the top hotel chains to adopt EV across the country.

Tata Power has developed a user-friendly mobile App, enabling EV consumers to locate charging stations, which can be booked in advance, or as required, including

payment of the same. ASPHL’s hotels present in each city will also feature as part of this application across the country.

Half the world’s population currently reside in cities, which will see a drastic increase in another two decades. While

cities occupy only 2% of the world's landmass, the climatic impact and footprint are immeasurable in terms of energy consumption, and CO2 emissions.

In India, electrification in the mobility space will see

a sustainable progress path and a dramatic surge soon (by the year 2030), impacting the transportation landscape. Battery and plug-in hybrid electric vehicles will steer the future that will affect the economy, environment, and energy conservation.

Speaking about EV implementation, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels Limited says, “We have always worked towards sustainability through our five core areas for strategic action. By implementing EV infrastructure, we are taking this a step ahead in the direction of reducing carbon footprint and being sustainable.

With feasible, consistent accessibility of electric vehicle supply equipment (EVSE), it will play a key role in making it easy for our guests to use the service and act as an added service benefit”

Sriram Natarajan

Dr. Chandrasekhar Nair

Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels Ltd

Wheelchair Accessible E-Rickshaw launched in Goa for the first time in India

For the first time in India, Goa witnessed the launch of specially designed accessible E-Rickshaw vehicles from Ezy Mov as part of the Sugamya Bharat Abhiyan. Six such vehicles were used during the Purple Fest to take PwD (Persons with Disability) around in the most convenient way.

The inauguration of Wheelchair Accessible E-Ricks and Unified Beach Cricket was held at Miramar at the hands of Minister for Social Welfare,

Subhash Phaldesai.

Phaldesai said, “Purple Fest is going to be path breaking in many ways. The Wheelchair Accessible E-Rickshaw will facilitate easy movement. It will empower those on the wheelchair who otherwise are confined to their homes. It is a brilliant step in the right direction towards inclusivity, creating diversity and bringing about total empowerment.”

Speaking on the occasion MLA of Saligao, Kedar Naik added, “I am happy to be a part of this event. It is a great platform for Persons with Disability. The E-Rick is a great step to provide additional mobility to those in the wheelchair. Healthcare will be easily accessible, too.”

“There’s so much to look forward through the Purple Fest for Persons with Disability. And here in Goa we are proud to launch the Accessible E-Rick that I believe has tremendous potential to bring senior citizens and mobility impaired masses to have an improved standard of living”

family members can accompany the passenger with disability in this vehicle, which has a ramp that doubles up as the door in the rear.

Besides, there has been utmost importance given to safety where the wheelchair is strapped on all four sides. “I request all those in need of this facility to take full benefit of the same here in Goa during these days,” urged Pawaskar. Also present for the launch were Rohit Monserrate, Mayor of Panjim and Taha Haaziq, Secretary of State Commission for Persons with Disabilities in Goa

“The Wheelchair Accessible E- Rickshaw will facilitate easy movement. It will empower those on the wheelchair who otherwise are confined to their homes. It’s a brilliant step in the right direction towards inclusivity, creating diversity and bringing about total empowerment”

Subhash Phaldesai

These vehicles were used to transport people from their hotels to the venue of the Purple Fest and also pick and drop them at the railway station and hotels. “There is so much to look forward through the Purple Fest for Persons with Disability. Here in Goa, we are proud to launch the Accessible E-Rick that I believe has tremendous potential to bring senior citizens and mobility impaired masses to have an improved standard of living,” stated Commissioner for Persons with Disability, Guruprasad Pawaskar. An affordable connector service for

wheelchair accessibility the Ezy Mov accessible electric E-Rick can be easily integrated into the public transport system that are meant to be Senior Citizen and Wheelchair friendly.

“The future is here. And this Accessible E-Rick is an extremely practical solution that can work in unison with municipalities, local governing bodies and organisations to deliver healthcare and other facilities in Goa,” Pawaskar added. Specially arranged for Persons with Disability, two

“I am happy to be a part of this event. It is a great platform for our Persons with Disability. The E-Rick is a great step to provide additional mobility to those in the wheelchair. Healthcare will be easily accessible too”

Kedar Naik

Minister for Social Welfare MLA,Saligao Constituency

Guruprasad Pawaskar

Commissioner for Persons with Disability

Nuances of D2C in Retail

The present is the era of technology, innovations, experiences and startups. The ecology for nurturing startups is being developed to facilitate growth and sustainability. However, the real test for startups is in gaining customers for their products and services that they offer and ensuring their satisfaction and engagement with the business. Being new in the market and trying to compete with already established giants in the field is a humongous challenge, unless the startup offers a new to the world product with unique and new offerings to the customers.

One of the major challenges is reaching out, making their presence felt and serving the customers quickly. Operating via online platforms like Amazon, Flipkart, Myntra, Ajio, Nykaa, Tatacliq etc. then becomes an obvious choice for a startup, and most startups take this route to begin their journey. However, this option comes with a cost and lost opportunities for better customer management. Thus, the choice for startups to reach out to customers is going directly to the consumer in the D2C (Direct to Consumer) mode. Most startups in India have adopted dual mode – D2C plus marketplace, while some follow chiefly D2C and are very successful in their performance and goal achievement. As of 2021, there were more than 800 startups operating in D2C format in India. Fashion startups account for the largest share in D2C segment.

Not only startups but major players like HUL, ITC, Marico, Emami etc have their presence in D2C as well via their microsites. And, companies such as Nestlé, Dabur, Panasonic, Wipro consumer care and others, are in preparations to launch their microsites soon. The D2C market in India is expected to reach a size of $100Bn by 2025.

Understanding D2C:

In e-commerce, D2C (Direct to Consumer) refers to the distribution channel where a company sells its own products directly to the end consumer. There is no middleman, nor any online platform or online marketplace involved, giving cost advantage to the company. Few years back clothing brands and consumer electronics were the main categories in D2C, but now there are 100s of categories selling directly to consumers. Some startups and brands that have successfully used the D2C channel include companies such as boat, Mamaearth, SUGAR Cosmetics, Licious,

Melorra, Kapiva, The Whole Truth, Vahdam Teas, Blue Tokai and others. These startups have quickly become the best choice for the young Indian online shoppers. The growth of some of these companies is phenomenal in a very short period of time. For example Mamaearth and SUGAR Cosmetics took just four years to reach the `100 crore revenue mark. Some of the other startups that operate in fashion category and using D2C channel include brands such as Bewakoof, Zivame, Wrogn, XYXX, StyleCracker, Fable Street, Andamen Chumbak, The Pant Company, Azani, Anouk, Clovia, The Souled Store, FabAlley, Pretty Secrets, Bombay Shirt Company, Almo Man, Damensch etc. and the number is growing.

Why D2C is Preferred: Initially when the marketplaces were formed and promoted a mix of merchandise, they were operating in a supply-deficit zone as there was less number of businesses listed on online platforms like Amazon or Flipkart. As such, any brand that sold via these marketplaces did well as it was supported by discounts, free logistics, 24 hours delivery etc. However, as the marketplaces have scaled their operations, with large number of brands listed on the marketplace, the opportunities for newer brands to compete are very less, unless they have a competitive advantage in their distinct features and in pricing. Thus for a new brand to survive, especially in an established category, it will have to use a channel that is outside the marketplace to communicate their brand promise and for this the D2C channel is the best. Later, once the brand is established and scaled up, the marketplace is used by many brands to have a wider reach to consumers.

Besides there are a host of advantages of using D2C channel, some of them are listed here; The biggest advantage is that the company has complete control over its operations and pricing. The ecommerce platforms and marketplaces have their own terms and conditions, such as control over the pricing of products, which are not favourable to small sized startups.

In D2C, the business is connected directly with the customer providing scope for better brand visibility and customer engagement. There could be instant and continuous interactions with customers and scope to keep them engaged and satisfied. This would also mean a deeper

understanding of customer preferences, choices and expectations, understanding their behaviours and demographics, which in turn, would help in providing better customer care. The marketing costs in D2C are less as compared to the platforms and the company could also do easy cost management, providing better pricing for the consumers. This would also help in customer retention and building loyalty.

There is a huge scope for providing deals and offers to encourage consumers to buy repeatedly and more, thereby building a strong brand image. Also, the companies could provide round-the-clock customer care and support which would further boost strong brand building. D2C would provide flexibility in marketing of the products; provide scope for meeting customisation demands from customers, more sales and thus more profits. However, there is also one big disadvantage that D2C startups have to overcome – is in D2C the company will have to manage every aspect of the business like website, traffic to the website, customer connect, logistics, marketing, operations, etc on its own. While in case of working with online marketplace the business will have to focus on operations.

Secondly, the capability to spend for marketing and operations will be a key determinant for sustenance and expansion in the growth phase, as most of the successful startups are entering this phase. Thus the lowered marketing and people costs will pose serious challenges with some of the established brands seeing take over by the big players like Mensa Brands, Upscalio, GOAT Brand Labs, Good Glamm Group, TMRW and others, which are called as houses of brands.

The Way Forward

Startups in D2C model could do a few things to maintain their position in the market. They need to focus more on personalising customer experience to the maximum extent. Rather, this should become their core marketing strategy. Secondly, ensure fast delivery via outsourced agency and by having a network of warehouses for the fulfillment partners. Third, exploit social media to the maximum for direct marketing and building a culture of customer focus and loyalty within the organisation. The D2C model is here to stay with obvious benefits, and it works, provided the companies think and act right

The writer is Founder Director, Saldots Academy, corporate trainer and facilitator. He is former Chairman, Goa Management Association. Email: pradeepsalgaonkar@gmail.com

The author speaks on brands making use of the Direct to Customer route of reaching out to their customers

Goal Setting in Wealth Creation

There is a famous part of the immortal classic, Alice in Wonderland in which Alice asks the Cheshire cat ‘Which road do I take?’

“Where do you want to go?” asks the cat. “I don’t know,” Alice answers. “Then,” said the cat, “it doesn’t matter which road you take.”

This clearly highlights that before we undertake any journey it is crucial to know where we want to go and what we wish to achieve. With respect to our financial journey as well, we do need to ascertain what our financial goals are.

As a wealth advisor, I am often asked for views / suggestions on good investment avenues. However, I maintain that the key is to first identify ‘where we want to go’ as investors.

A financial plan is defined by Investopedia as ‘a document containing a person’s current money situation and longterm monetary goals, as well as strategies to achieve those goals.’ A financial plan begins with a thorough evaluation of the person’s current financial state and future expectations and may be created independently or with the help of a certified financial planner.’

To explain in simple words and reminding you of the popular show KBC - if you want to be a crorepati you have to go through certain padaavs or milestones. It is the same with financial planning, if you want to achieve your financial goals you have to look at these 8 milestones or components. These are: 1. Goal Setting

Cash Flow Management

Insurance Management

Debt Management

Investment Planning

Tax Planning

Retirement Planning

Estate Planning

Following a structured approach to financial planning is the key to ensure that our financial goals are met. In this article we will focus on the first component of financial planning which is goal setting. We will focus on the some of the other components in the series, so please do watch this space!

What is Goal Setting?

This is step one of the entire financial planning process. Most of us are in jobs or run businesses – we start the financial year

by planning for the coming year – setting goals in the form of the sales that we wish to achieve by unit or value, or that by the number of new customers that we wish to acquire etc.

No business just runs itself without setting goals, even the smallest kirana shop will have a goal of adding more products or hiring a couple of people so that the owner can offer delivery at home facility for the shop’s clients. The list is endless.

Similarly, when it comes to planning for ones finances one needs to set goals. It is not enough to say that I want to save enough for retirement or my child’s marriage. While that is a beginning you also need to see what you wish to achieve and how much you need to save in order to meet those goals.

Setting Goals Right

One of the first things that we learn in the profession or business that we are in is to set SMART goals. The same applies to the world of personal finance too.

To recap SMART stands for Specific, Measurable, Achievable, Relevant and Time Bound. This can be best explained with an example:

It is not sufficient to say that ‘I want to retire rich’ or ‘I want my child to get married at a destination wedding overseas’. You will have to convert these into SMART goals.

Using the first example, a better statement could be:

I am 30 years old and I wish to retire at the age of 60 years which is another 30 years away. For living a comfortable retired life, I will need a sum of `5 Crore at the time

of retirement. I will need this money for the next 20 years of my life after retirement and I would wish to invest accordingly. My current monthly income is `100000 out of which I can save 30%.

This is a SMART goal, it is very Specific in what needs to be achieved, Measurable since you know the number that you wish to reach, Achievable since you are starting early and can invest right, the amount is achievable and not say `100 crore which will be unrealistic to achieve only with investment. It is Relevant since retirement from work is inevitable and Time bound since the number of years in which to achieve this goal is clearly defined.

Prioritise the Goals

Most of us will have multiple goals in life. Long term ones like retirement (say 10 years +) and short term ones like buying a car (next 2-3 years). Both these goals seem essential, and both will demand separate investments. So which one should you prioritize? And how do you prioritize?

Actually, both the above goals are achievable if the investor is guided in the right manner and creates different portfolios in order to achieve these goals.

However, strategy is often defined as a conscious compromise. If they do need to be prioritised, then the important goals need to be put first. Goals like children’s education and retirement should take precedence over a luxury car or any other expense that does not create an asset.

Windfalls also need to be rightly managed – preferably to close outstanding

The writer is is the Regional Director, Konkan, Goa & Maharashtra (Excluding Mumbai) for Epsilon Money Mart Pvt Ltd. Email: shankar@epsilonmoney.com

The author throws light on goal setting, which is the first component of financial planning

A financial plan begins with a thorough evaluation of the person’s current financial state and future expectations and may be created independently or with the help of a certified financial planner

Financial Freedom or Financial Overconfidence?

Every person has a different definition for financial freedom, but considering the text book definition, ‘Financial freedom is having enough savings, investments and cash in hand to support the lifestyle that you desire for yourself and your family.’

Financial freedom also means having the liberty to retire and pursue any career that you want without having the pressure to earn a particular amount each year. Some people also say that when your passive income exceeds your fixed and variable expenses, or when you can buy what you want without thinking about money, then you are financially free.

Financial Overconfidence

When investors or financially smart people start experiencing only the positive side of investing and debt, they believe that they are wise to take every financial decision as well. Confidence to take these decisions is good but overconfidence is not. Overconfidence creates a risk of investing errors, resulting in the loss of capital.

Another huge trap is the concept of FOMO (Fear Of Missing Out). Many people make wrong decisions when investing in the stock market or cryptocurrency, because they keep seeing people around them who have succeeded. They don’t want to be left behind, so they put their money in these markets without doing their research and with the hope that they would also succeed, Of course, things don’t work out as planned. A survey has showed that overconfidence is higher among men than women and increases with investment experience and education.

Overconfidence and Financial Advice

One of the major reasons to seek advice from professionals is to improve accuracy and avoid mistakes. People with different income levels require different advice; some may require loan advice, while others may require estate planning or retirement planning. One advice does not fit all because each individual has different goals. Seeking a financial advisor is directly linked to your

One of the major reasons to seek advice from professionals is to improve accuracy and avoid mistakes. People with different income levels require different advice; some may require loan advice, while others may require estate planning or retirement planning; therefore, one advice does not fit all because each individual has different goals

financial behaviour and well-being. With overconfidence, people may not be able to portray optimal financial behaviours such as seeking financial advice since they overestimate their abilities and knowledge. Moreover, overconfident people tend to spend recklessly today and may fail to save accurately for retirement and other emergencies.

One Wrong Financial Decision

Life is all about choices, especially financial ones. If we make bad financial choices, these choices will be reflected in our daily lives. Most times, the impact of financial decisions is much higher than you can anticipate. Sometimes bad things happen to good people. Sometimes good people

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

debt rather than on spending on other short-term needs.

The goals that we identify will also determine other aspects, like our risk approach with respect to the goal and the investment strategy and portfolio will also differ accordingly.

One may adopt a more conservative risk approach to goals like children’s education in the medium term and a more growth/aggressive risk approach for a goal like building wealth for the long-term. It all depends upon the individual’s life circumstances, goals and risk orientation.

make bad decisions, as fear and greed are the major factors that determine these decisions. Financial mistakes can have long-lasting detrimental effects that not only affect individuals but also affects the whole family. Statistics show that majority of people attribute their ‘bad financial decision’ in having excessive faith in debt and wrong partnership in business.

One must be cautious when it comes to taking loans and new loans to repay old loans. These days, banks and other financial institutions have made it relatively easy to obtain loans which has caused problems for business owners. Therefore, consulting a professional for debt management is recommended.

Bottom Line

Many people who make financial blunders are mainly concerned with the shortterm consequences, which are frequently expressed as an instant loss of funds. However, individuals who are well-versed in finance understand that the real pain associated with poor decisions is associated with long-term losses. Strive to achieve financial freedom in a right way.

Be confident while taking decisions and always seek guidance from a professional every time you need an opinion or advice with your decisions

A right financial plan – with the goals set SMART-ly and invested and monitored well - will ensure that you face your goals with confidence rather than with apprehension and tension on how to manage the payments and how to create wealth to manage goals and aspirations

The author explains the crucial differences between financial freedom and financial overconfidence

Business without ethics

laments

We live in the mountains. When we moved here from a large city, our expectation was that whilst we may not have all the creature comforts that one is used to in the city by way of an app, given the smallness of the place, we should be able to purchase whatever we needed for our daily life by simply walking to the neighborhood market. Pretty soon we realised that every single vendor was cheating us. And since, my partner, Dominique is French, and doesn’t speak chaste English either, it was a carte-blanche invitation to loot us. One day I decided to get into the act. Dominique was about to pay our regular vegetable vendor `900 for the vegetables he had just picked up when I asked him to give me prices, item-wise. His face fell. The total came to `375! When I asked him why he quoted 900 bucks, his sheepish reply in Hindi was: I’m illiterate no? I threw him out of the house and made sure all the neighbors heard about him. That was the last time he came into our lane.

So we decided to go back to good old ecommerce on the assumption that we won’t be cheated. Whilst we didn’t get robbed in terms of prices, we were short-delivered every single time! And always high value items like 5 kg cooking oil. If you called the call center complaining about an item not delivered but billed, the standard answer was that the delivery boy is saying he has delivered. Once the customer care person thought she was being very helpful when she suggested that perhaps our maid stole it!

We experienced this with practically every single ecommerce brand. Their teams entrusted with last mile service delivery are ridiculously unscrupulous. And this has taken many forms. I get messages from the delivery partner that the item could not be delivered as I was not available. And I know for a fact that the phone has always been within my reach and I have always been at the delivery address! With food delivery guys we have found that our parcels were tampered. Sometimes the app shows it has been picked up from the restaurant and is on its way but it never reached us.

him that I’d rather not cook at all till the new regulator is delivered. The new one came 3 days later. A month after that, its pin broke and gas started leaking. I went back to the agency and that’s when I discovered that the regulator against my name was not delivered at all (a fake had been given to me in its stead) and I overheard the staff saying that the guy must have sold it off at a premium!

We even experienced daylight robbery at one of the best hospitals here. We went in to the OPD to be treated for a simple infection, we ran away from the hospital when we were stuck with an estimate of 2 lakhs, told we needed surgery and may be even a skin graft, which of course would be additional!

In these eight months of living here, we have experienced the worst possible service from even the best of brands when it comes to fulfillment. I don’t know why nothing has been done to fix this because I’m pretty vocal in my feedback. I have lost more money in these eight months (and more of my hair has turned silver) than in all these years. This brings me to the most important question: why do tourist towns have such poor work ethic? The answer cannot be

poor quality migrant labour because it is the same standard of migrant labour from the same states that are servicing other metros and large cities. I think in tourist towns, they assume everyone is a tourist so they don’t expect to see you again. Maybe that’s why they think they can cheat and get away with it. Or maybe it’s a matter of demographics. Retired people usually come to ‘settle’ in such mountain towns, either because it was once their ancestral home or because they want to live their empty-nester lives, far from the madding crowd. And may be these people accept poor work ethic as part of their retirement package. Because whenever I voice my angst to people who have been living here for a long time, I’m always told it is how it is in places like these!

And I kind of get that because even educated people here have shown how unscrupulous they are, especially when you’re an outsider. I’m one of those who value relationships more than money or transaction. I actually expected that people in smaller towns would value the same. But the greed and apathy are more palpable here than in larger cities, much to my chagrin.

One of the reasons why we decided to shut down our French restaurant after running it only for about 7 months is that the quality of manpower available for running it was simply abysmal. It caused so much stress to both of us that we were thoroughly disenchanted with the decision itself of moving here. So we decided to give up the ghost and focus on our passion for trekking and climbing.

Even our gas agency tried to dupe us by sending an old, used regulator. When I refused to take it, the guy said it will be a month before a new one is expected. I told The columnist is co-founder of bakery and restaurant business (www.concoctions.fr) with her French Michelin-star chef life partner. Email: nandini@carmaconnect.in

Back to the age-old angsty question. Why we are Indians like this only?

The writer

the poor work ethics that are predominant in tourist towns

One of the reasons why we decided to shut down our French restaurant after running it only for about 7 months is that the quality of manpower available for running it was simply abysmal

From Pirna to Panaji, a long way for Chairman of EDC Ltd

Pirna is a small village in North Goa. A son was born to Tanawade couple in January 1967.

Little did his parents know that their son Sadanand Tanawade will one day head the prestigious State Finance Corporation of Goa, EDC LTD and simultaneously will head in Goa, the biggest political party in India. Incidentally, as BJP chief in Goa, at the party level, he is in charge of threefourths of the elected MLAs of Goa.

Unknown to most people, after his schooling in Pirna and higher education at Dempo College of Commerce in Panaji, Tanawade completed his Masters in Commerce and a marketing management course from the Indian Institute of Management Studies, New Delhi.

Tanawade attributes his success to his upbringing by his mother and father from whom he learnt the value of hard work, education and honesty. His wife supports him fully in his endeavours.

Tanawade had a meteoric rise in life. From village sarpanch, to MLA of Tivim, to BJP President and Chairman of EDC Ltd. It has been a story of sheer hard work and tenacity. Formerly, he was also Chairman of Goa Tourism Development Corporation (GTDC).

As a statesman, Tanawade gives high priority to education, as seen from his aforesaid qualifications. Hence, when he became Chairman of the village school in 2014, he made it a point to recruit quality teachers so that the village students acquire good education. Later, he took the initiative to start Higher Secondary in the village school. Today, the school has 650 students. He did not want Pirna students to experience what he faced as a deprived student in Panaji. During his days as a student, he studied in various gardens

around the city late at night.

To what does he attribute his becoming BJP state President? He feels that his dedication and hard work for the party, his ability to take everyone along, and his acceptability across the party workers, leaders and functionaries were instrumental for the same. As Director of EDC Ltd, I have personally seen Tanawade’s ability to listen patiently, ability to learn quickly, respect others on the Board, not to make ego an issue (instead keep an open mind) and arrive at a consensus.

All these qualities in one person are indeed rare to find. He tries to help anyone, who he can, with an instant phone call to the concerned government officer. Tanawade also attributes his rise to learning from B. L. Santhosh, national General Secretary of BJP. He has also worked for the party in Karnataka and Maharashtra.

He cherishes his ‘sanskars’ (values) in the ‘Sangh Pariwar’ namely Rashtriya Swayamsevak Sangh (RSS), Akhil Bharatiya Vidyarthi Parishad (ABVP), and VHP with whom he has been associated over the years. Chief among the ‘sanskars’ is not to have greed of power or position. He preferred to be on the losing side, than fall for allurements of or pay heed to threats from other political parties throughout his life. All these experiences have made him strong.

So what advice does he have for youngsters? He says that youngsters should focus on studies, work hard and prepare to live a principled life. He advices them to always have a long term vision, instead of short term attractions.

At 55, Tanawade is full of energy and enthusiasm. He dreams of a developed Goa. With the ‘double engine’ of EDC and BJP, I am sure he will deliver spectacularly

The author speaks on the success and rise of Sadanand Shet Tanawade, BJP Chief in Goa; and Chairman of EDC

Tanawade with the COSIDICI Award for EDC Ltd

Sadanand Shet Tanawade

Sail with Goa’s premium coastal speciality dining

garlic, chillies and scallions. The most dramatic dish is Tuna Tataki, which comes served on a pink salt slab, sourced from the Himalayas.

Seeking inspiration from the shimmering sands, turquoise waters, breath-taking landscapes, and abundant bounty of the coast, C2C is a tastefully designed elegant diner, showcasing a myriad of flavours from across the world. The new upscale restaurant at the opulent Taj Resort & Convention Centre, home to unparalleled views of the Arabian Sea, is an experience like no other.

Soothing tones of grey and blue beautifully reflect the primary colours of the coast in every detail of the modish restaurant. C2C has 94 covers spread across three seating zones – indoor lounge, al fresco and the outdoor water body. The indoor lounge boasts of plush interiors echoing glimpses from the coast – a ceiling that dazzles with shades of blue meant to indicate the glimmer of light reflecting in water; fisherman’s net sprawling across the elegant dining, two striking wooden columns take the shape of waves; below the feet, the ground is rough mimicking sandy shores, broken in sections by sparkling seashells (aka tiles) offering a pop of colour. The al fresco area has an uninterrupted view of the sea. The floated seating atop an independent water body is a private dining area, located outdoors. The only sound here is that of waves crashing against the Dona Paula shore. Once the sun sets, a fire pit lights in the pool of water, bathing the surroundings with its warm glow and welcoming in the shimmering night sky.

C2C is the ideal spot for sundowners. The experience is complemented by a bar programme that highlights homegrown liquors, from a selection of gins to the popular Goan spirit, Feni. Sip on a Sussegado (Greater Than Gin, Vermouth, and Campari) or start things simple and sweet with a Caboquiri (Cabo Rum with Curry Leaves). Mirsang Sour uses Paul John Whiskey, Fenirita highlights Cazulo’s Coconut and Cashew Feni and Ola Sangria has fruits soaking in Port Wine.

At the helm of C2C are four captains, eager to take guests on a memorable sailing journey along the coast. Which coast? Take

your pick.

There is the Western Coast, seeking inspiration all the way from Russia to the Mediterranean. The Eastern Coast touches upon the Indian love for all things South East Asian. The Local Coast is a tribute to the home. “We aren’t restricting ourselves to just one coast but want to cover shores from across the globe where cuisines showcase the bounty of the land,” says Chef Edridge Vaz, Sous Chef.

From the Western coast, the seafood preparations are distinct yet familiar. They are lightly seasoned and cooked to perfection, paired with delicate sauces and minimal accompaniments, thus allowing their true flavours to shine. A popular choice is the Chatka King Crab Legs. The Russian King Crab found in the country’s cold waters makes its journey to Goa’s hot climes where it gets dressed in a simple chilli coriander butter glaze to bring out its sweet distinctive flavour. The buttery soft Baked Seabass finds home in a flaky Phyllo pastry, Lobster Thermidor gets a mustard glaze and comes with a lobster bisque reduction, and Lobster Ravioli finds fragrance from its fennel stuffing. The showstopper from the seafood selection is Whole Baked Snapper. Salt and black pepper play marinade and thyme inserted into the belly of the fish is lit and then carried to the table, creating a trail of fragrant smoke. It is the only dish that brings with it the chef, who carves the fish at the table. The Eastern menu brings forth the coastal flavours of Thailand, China, and Japan, which are widely accepted to the Indian palate. Accordingly, the menu has Panko Prawns, a Pomelo Salad, and Wok Chow-Main. The team of talented Chefs spend two days perfecting the laksa paste; and the fiery Szechuan in the Szechuan Chicken is homemade, highlighting chillies and peppercorns. The gluten-free Exotic Vegetable Crystal Dimsum is made with wheat and potato starch. One cannot miss the signature Thai curry with steamed rice. If willing to get your hands messy, there’s Pepper Crabs, with mud crabs tossed with

Goan cuisine shines in the Local Coast, with a nod to Southern India. “We want to promote local cuisine too by ensuring that what we serve is authentic and elevated,” says Chef Vaz. This finds form in the flavoursome blend of Mushroom Xacutti, traditional Goan Fish Curry with red rice and kismur and a spicy Pork Vindaloo. The homely macaroni soup is a staple from Goan homes. This part of the menu features two South Indian dishes, a spicy and tangy Mutton Roast and Meen Polichathu served with a flavoursome ginger-green chillicoconut sauce.

Finish the meal with a choice of rich and decadent desserts. Pineapple gets the royal embrace in Grilled Pineapple. Marinated overnight in rum, demerara sugar and orange juice is served grilled with a light vanilla gelato. Chocolate lovers can indulge in Moelleux Au Chocolat (chocolate cake, orange sauce) or the signature Glacage Chocolat (nougat, chocolate Crémeux, hazelnut praline). The chef’s favourite is a Vanilla Crème Brûlée, served with a crisp almond sesame tuile. Those seeking a savoury delight, opt for the cheese platter with homemade walnut bread and chutney. C2C does not compromise on quality, bringing forth the best ingredients to ensure a superlative dining experience. Peruvian green asparagus, sweet pomelos from Thailand, Japanese tuna and kewpie, meaty North Atlantic scallops, blushing pink Norwegian salmon, earthy morels from Kashmir and the prized local sea perch (Chonak), all find space on the menu.

In keeping with FSSAI norms, the menu is updated with a list of 14 allergens, the weight of each portion and the calories consumed. At C2C, you can enjoy an evening by the sea, with food that transports you to different coasts in the world. Go ahead, set sail for a memorable dining journey.

The recently introduced extravagant Sunday Brunch at C2C promises a symphony of delectable flavours from the coasts, comprising of an extensive selection in appetizers, salads, an assortment of flavoursome soups, a plethora of scrumptious mains and a range of heavenly desserts. Exhilarating music, handcrafted beverages, an exclusively curated Chef’s menu, and the picturesque backdrop of C2C is the perfect recipe for a relaxed Sunday afternoon by the coast

C2C (Coast 2 Coast) at Taj Resort & Convention Centre, Goa is a journey through global coastal cuisine

Crab Xec Xec

Mutton Roast

White Plate by Chef Jason: Redefining Culinary Brilliance

White Plate by Chef Jason, which launched recently in Candolim, has energised Goa’s ever-expanding culinary landscape, by redefining the molecular fine-dining experience. The unique signature of this restaurant located by the golden sands of Candolim beach, is the sheer size of imagination and calibre of innovation which goes into conceiving and execution of dishes, which are representative of global cuisine, but also carry the restaurant’s founder Chef Jason DeSouza’s personally rendered touch. For Chef Jason, every dish which comes through the rigours of his kitchen is an art piece, designed from scratch, in order to highlight the special flavours and textures that the ingredients possess, which are then beautifully paired with the principles of molecular gastronomy, transforming them into delectable pieces of edible art. “For me, fine dining is about elevating the senses,” he says. “It is a delicate harmony of textures, flavours and scents which come together – gently balanced to deliver an almost transcendental experience.” His Yam Torched Eclair, for example is an Indianised smoked yam pate that goes on top of an eclair with a date and tamarind relish, mint coulis and bubble burst of caviar or the Jalapeno Motichur Salmon Compound, which is essentially is a pine-wood smoked salmon tartare served with caperberry, kalamata, pickled onions and a jalapeño motichur. Celebrity Chef Jason, the man behind the entire innovative restaurant concept, is a restaurateur, entrepreneur and flavour savant extraordinaire and is an alumnus of Le Cordon Bleu in London. He has built his craft and honed his talent in the esteemed kitchens of culinary royalty, namely Chef Gordon Ramsay and Chef Alain Ducasse. White Plate itself has a traditional feel, with a touch of the modern and with its ideal aesthetics, relaxed ambience and radically novel food experiences, is the ultimate oasis to recharge one’s soul over a meal. White Plate by Chef Jason lets you embark on a culinary journey with little parallel in Goa, a journey which you may not really want to end or even miss

Joe Mascarenhas

Liberata D'souza

Tapan Acharya

Nadia Dias

Judith Daruwalla

Dr. Kuheli Bhattacharya

June Fraias

Scarlet Mel Rose

Luis Felipe Menezes Sebastian D’souza

Fr. Loyola Pereira

Dr. Tanya Duggal

Joel Fernandes

Mackinlay Barretto

Prapti Tar

Nishkala Arvind

Hersch Daruvala

Michael Lobo

Chef Jason DeSouza

Chris Castellino

Manguirish Pai Raiker named on National Executive Committee of FICCI again

Manguirish Pai Raiker, past president of Goa Chamber of Commerce and Industry, has been invited again to serve as member of National Executive Committee of FICCI for the year 2023 by the incoming President.

This is in recognition of his service to the industry by taking up various issues with the Central and various state governments and effectively resolving them to benefit and assist in its growth. Pai Raiker also represents on the RBI’s empowerment committee for MSME. He was the National Council Chairman of MSME for several years and has also been the member on the National Board of MSME, Government of India. His tremendous experience and knowledge on the subject always helps in drafting various memorandums to the Government. Recently, he was invited to contribute in drafting of export promotion for MSME leading to achieving the national target of a $5 trillion economy

Dr Aumkar Shah bags gold medals in Final MBBS exam at AIIMS, New Delhi

Dr Aumkar Kishor Shah has bagged a gold medal in Pediatrics, Obstetrics and Gynaecology, and Community medicine in the final MBBS exam at the All India Institute of Medical Sciences (AIIMS), New Delhi, along with an overall second rank. He was the only Goan to be selected to pursue an MBBS at AIIMS with an All India Rank of 28. His journey at AIIMS has been meritorious and highly commendable. He was awarded the Sir Dorabjee Tata Trust prize in Biochemistry in 2019 and secured the second rank during his first MBBS exams. Dr Aumkar received a gold medal for securing the first rank at his second MBBS exam, as well as the award for ‘Best Undergraduate Student’ for topping in Microbiology, Pharmacology and Forensic Medicine, and Toxicology. Dr Aumkar was the only student from AIIMS Delhi to be selected for an internship at the Robert Bosch centre for product design at IISc, Bangalore

Aditi Powar

awarded for ‘Best Screenplay’

and ‘Best Story’ by the SWA Awards 2022

Curca based Aditi Powar was recently awarded for her impeccable writing at the third edition of the SWA Awards 2022. She won an award for ‘Best Screenplay’ and ‘Best Story’ for Indian serial ‘Wagle Ki Duniya - Nayee Peedhi Naye Kissey.’

The awards were organised by the Screenwriters Association of India, in Mumbai. Aditi was part of the writing team for the new edition of the noted Hindi series and won the Best screenplay award along with her husband, Sambhav Khetarpal and the Best Story for the same series with the team of Aatish Kapadia, Jayesh Patil, JD Majethia, Sambhav Khetarpal. Born and brought up in Goa, Aditi is a former student of Mushtifund High School. She graduated in Commerce from SS Dempo College. Aditi has written a book called ‘Storm in a Teacup’ and was selected in a pan India writing talent hunt called ‘Star Writers Program’, an elite screenwriting course where she was trained by an expert from Los Angeles, David Freeman

Jyoti Sardesai receives national honour

Jyoti Sardesai, Director, Directorate of Food and Drugs Administration, Goa was honoured with, ‘The Best Woman Drug Control Officer’ Award. She received this award at the hands of Union Minister Nitin Gadkari at the inauguration function of the 72nd Indian Pharmaceutical Congress held at Nagpur, this month.

This All India level award is instituted by All India Drug Control Officers Confederation (AIDCOC) in memory of the Punjab Drug Control Officer late Neha Shauree, who was killed while on duty, in 2019, and Sardesai has been selected as the first recipient. This prestigious award is one of the high points in Sardesai's distinguished career in Food and Drug regulation. Sardesai took over as Director of the Food and Drugs Administration in 2017

Egidio Moniz declared ‘Agronomist of the Year’ for agricultural sustainability

Egidio Moniz from Curtorim has been declared as the Agronomist of the Year by the Agronomist Association for the State of São Paulo, Brazil. He was awarded for his lifetime contribution to ‘Sustainability in Brazilian Agriculture’.

Moniz, who is from Curtorim has been farming Arabica Coffee on his 32-hectare farm called Fazenda Goa where he produces his brand, Café Goa. Moniz grew up in Curtorim and then moved to Mumbai. He later migrated to Brazil in 1975 and began working at Imperial Chemical Industries. Post retirement, he started his farm at Araguari and now has 4000 Arabica plants per hectare. Moniz also engages in consultancy work for United Phosphorus Limited (UPL), an Indian agrochemical multinational in Brazil. Moniz is planning a small project for his village, Curtorim where he plans to distribute six different trees for each chosen family to supplement nutrition

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2. Which former Chairman of State Bank of India was appointed as chairman of BharatPe board in October 2021?

3. Prime Air is the fleet cargo and logistics brand from which global ecommerce giant?

4. Which Indian company will acquire U.S.based Concert Pharmaceuticals Inc. for $576 million to access the company's experimental drug for treating patchy baldness?

5. In May 2022, which group acquired Ambuja Cements and ACC for US$10.5 billion?

6. Which billionaire founder of Ant Group has been made to give up control of the Chinese fintech giant after a regulatory crackdown?

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