98 minute read
Editorial 08 Corpo Scan 14 Anniversary Special
JULY 2022
Publisher & Editor Harshvardhan Bhatkuly
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Group Director Urvija Bhatkuly
Business Head Annalise Gouveia
Chief Reporter Sybil Rodrigues
Graphic Designer Rakshama Naik
Circulation Mayur Santineskar
Contributors in this Issue Cassandra Carvalho Dr Emanuel Gracias Dr Pradeep Salgaonkar Kishore M Shah Mahesh Pai Nandini Vaidyanathan Samay Shetti Satyendra Naik Sweta Sharma
PRESENTED BY
Editorial, Advertising & Administrative Office Business Goa
409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 09834340633 Email: businessgoa.media@gmail.com
Unsolicited material may not be returned. The opinions in columns and other stories expressed in Business Goa Industry Dossier are not necessarily that of the publishers and the Publisher/Editor shall not be held liable for any inaccuracy or otherwise. While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.
Stay in Growth Mode
Harshvardhan Bhatkuly
The popular saying for any business model is “if you’re not growing, you’re dying.” Whether you like it or not, standing still is catastrophic for organizations, especially for small businesses. Identifying opportunities for business growth need to take center stage for long-term success. However, growth is elusive and requires a deliberate approach to achieving business objectives.
There are two major reasons why experts consider growth as elusive: a. Inadequate consideration of opportunities within the core business, adjacent to the core business or within new customer sub-segments. b. An organizational infrastructure that cannot support successful execution.
To be successful and stay in the business, growth and profitability are the two most important factors that a company should consider – it helps them remain attractive to investors and analysts. There are various consequences that your business might face if it lacks growth: a stagnancy and drop in earnings and profits, employees’ income, productivity, business opportunities, and job openings; limited options for innovation; failure of existing infrastructure to support additional complexities; and the inability of your unique selling point to impress customers.
However, growth is critical for a company’s long-term sustainability. It is a stage wherein your business reaches the point of expansion and hunts for additional options. Nonetheless, ushering a business from an idea to long-term success is no cake walk. While there is no onesize-fits-all formula for determining optimal growth, it is important to plan growth so that it is controlled. Let us understand why businesses need to grow: Growth is required for sustainability – To sustain means to continuously exist in the industry for a longer period of time. An organization needs to adapt to an evolving business environment and grab opportunities for its sustainability. Growth builds credibility – When a business sustains for a longer period in the industry, it builds credibility in the market. A credible organization attracts new investors, employees, and customers. The approval and confidence of people can have a direct and profound effect on the main objective of the company. Growth keeps competition at bay – When a business is constantly growing it helps face the competition effectively at all levels while paving way for expansion and diversification. Growth reduces commercial risks – Commercial risks refer to potential losses arising from the market or trading partners. It has become an easy task for well-managed and sustainable businesses to reduce the risk of falling over the precipice. Growth helps innovation – Innovation brings in new products and services while increasing its efficiency and push profitability. It benefits both the consumers and businesses. Contrastingly, a company loses its market share to competitors and falls short of productivity and efficiency if it stops growing at a sustainable rate. Growth reaps partnership and joint ventures – When a business is growing, it often plans for partnerships, joint ventures, mergers, and acquisitions. The benefits are more contacts, increase in market shares, lower commercial risks, broader customer base, favourable financing opportunities, more resources, and a way to enter a new market. Growth retains customers – Popular studies reveal that acquiring new customers can cost a company around five times more than retaining the current ones. Stable growth helps retain existing customers, who are your best bet for increasing sales. Growth impacts profitability – Although growth is not limited to profit alone, it helps achieve and maintain profitability. Even though an organization is good at profitability, there should always be scope for growth since this offers opportunities for greater overall profitability and sustainability in line with customers, analysts, and potential/current investors.
Organizations looking to prioritize growth should have a growth strategy and need to plan it carefully. The right strategy is capable of delivering stability, security, and long-term success. Once you have passed the start-up stage, set growth goals, involve management, control costs, and regularly review targets not just to sustain the business but to stay relevant
GSIA supports Govt decision for app-based taxi services in Goa
CII feedback on draft investment promotion policy stresses on improvement in EoDB
Mauvin Godinho The Goa State Industries Association (GSIA) has urged the government to resist the pressure tactics employed by the taxi unions while supporting the government’s decision to establish app-based taxi services in the state. According to GSIA President Damodar Kochkar, the Association believes that the introduction of app-based taxi service aggregators is the best way to end the problems faced by travellers. As per Kochkar, it is a generally known fact that taxi drivers in Goa overcharge people in the absence of digital metres and monitoring of taxi fares, tarnishing the state's reputation both nationally and internationally. If the government intends to boost tourism, Goa urgently needs
Damodar Kochkar some sort of reliable, reasonably priced transportation service. He added that if Goa’s cab operators start their own appbased taxi aggregator, GSIA would undoubtedly support them. Mauvin Godinho, Minister of Transport, also emphasised the necessity of taxi aggregators in the region. He asked the state’s cab drivers to band together and launch their own app and promised them financial support from the government. Godinho stated that all MLAs would be welcomed to a meeting he would shortly meet the cab drivers in order to discuss the matter and guarantee affordable public transportation for tourists as well as affordable taxi charges for Goans
CII in its recommendations on the draft Goa Industrial Growth and Investment Promotion Policy-2022, has urged the government to improve on Ease on Doing Business by adopting a process for deemed approvals. CII proposed setting up an online single window system for existing industries. It stated that while the policy’s endeavour is to attract new investment, it is important to look after existing stakeholders and make things as easy as possible for them to run their business. It further stated that the existing Single Window System (SWS) needed improvement by doing away with physical interface and document submissions. CII also called for a grievance redressal mechanism in the existing SWS. The industry body suggested that the government departments including panchayats and municipalities be brought onboard the SWS. On the EoDB front, CII has suggested continuous upgrading of new services with continuous monitoring of the existing services and proper back end support. Goa Small and Medium Hoteliers demand It further proposed clampdown on illegal tourism establishments Goa records 67% increase in GST revenue
relaxation for starting ecotourism activities and other thrust areas of the policy by the Town and Country Planning Department. To further accelerate the process of establishing business in the state, CII urged the departments to consider implementing provisions for deemed approvals and approvals on the basis of self-declaration. CII expressed concern about reforms and processes remaining on paper due to poor training and implementation by government officials and stated that the land allotment policy needs to be simplified by making Goa Investment Promotion Board (IPB) the single point of contact for land. CII also suggested that incentives to Green Investment Scheme 2017 should be extended and funds should be allotted for the scheme.
CII said that EDC should be instructed to offer low-cost financing to industries looking to adopt solar energy so that capital expenditure can be deferred to manage cash flows. It also proposed production linked incentives for existing businesses in the state
The Goa Small and Medium Hoteliers Association demanded immediate crackdown on over 11,000 illegal tourism establishments operating in the state.
The Association had submitted a memorandum to the Serafino Cotta Minister for Tourism, Rohan Khaunte highlighting the impact of illegal hospitality sector on their business. Following submission by the Association, the Minister directed the Tourism Department to identify the illegal operators and take necessary action. The President of Association, Serafino Cotta claimed that according to the government report, the State has over 11,000 hotels, guest houses, villas, resorts and others operating
illegally without obtaining requisite permissions and consents from the authorities including the Department of Tourism, Fire and Emergency Services, Goa State Pollution Control Board and local governing bodies. Cotta said that the Goa Tourism Development Corporation appointed consultancy firm in its report, submitted in 2020, had said that there are 76 per cent illegal five-star hotels operating without permissions, while another 29 per cent are in the category of three-star hotels. As per the report, he said that there are 43 per cent illegal hotels operating under C-category while another 74 per cent are in D-category. Goa recorded a 67 per cent increase in GST revenue collection this year as compared to last year. In a contrast to June 2021, when the State’s GST revenue collection was `256 crore, it has increased to `429 crore in June 2022. However, the revenue collected in the month of June this year was `32 crore less than that of May 2022, which stood at 461 crore. According to the Ministry of Finance, the gross GST
Cotta informed that he had submitted a memorandum to then Minister for Tourism Manohar (Babu) Ajgaonkar highlighting the illegal hospitality business.
Cotta is now hopeful that the new Tourism Minister will take some action in this regard. He has advised the government revenue collected countrywide was `1,44,616 crore in June 2022, an increase of 56 per cent year-on-year. In addition, the gross GST collection in June 2022 was the second-highest collection after the `1,67,640 crore collection in April 2022. For the fifth time since the introduction of the GST and for the fourth consecutive month since March 2022, the GST collection exceeded the `1.40 lakh crore mark
to ensure that the tour operators do not sign deals with these illegal hotels. In their series of demands, the Association urged the government that they should be given representation in tourism related decision, in lines with the TTAG as well as be given representation on the Tourism Board
TOURISM DEPARTMENT TO LAUNCH HELPLINE TO HELP TOURISTS AND OTHER STAKEHOLDERS IN GOA
The Department of Tourism will launch a helpline for tourists and tourism stakeholders so that travelers to the state may receive information on tourist attractions and activities as well as resolve queries and report any complaints that they may have.
In the past twenty years, the Calangute-Baga belt has undergone a great deal of change as traders compete for customers and space, which has resulted in confrontations and illicit activities. Not only do visitors require assistance, but occasionally even individuals who work in the tourism industry struggle. Since filing a formal complaint with the appropriate government requires time, a hotline should be able to fulfil this need. It will be of use in reporting crimes without disclosing one’s identify to the authorities for fear of the complainant being singled out. Currently, if tourists or tourism stakeholders need information or need to report an incident to the authorities, they must contact the department; however tourists are likely to rely on social media. Therefore, having a helpline will be preferable to depending on information that may not be accurately shared on social media by a traveller.
The Department intends to open the helpline prior to the beginning of the new season
Mormugao Port Authority terminates lease to establish Nauxi Marina Project
The Mormugao Port Authority has terminated the lease to set up the `350 crore Nauxi marina project in Tiswadi. At its meeting on May 27, the MPA decided to revoke the leasing agreement dated October 12, 2010, as well as to release and return the Kagarwal Construction company’s performance guarantee. Despite the fact that the lease deed has been in effect for more than 11 years, neither the physical possession of the leased territory nor the final NOCs/clearances needed for the marina project have been given to Kargwal, according to MPA’s D M Kamble.
Some villagers and fishermen from the community filed a petition contesting the Mormugao Port Trust's authority and jurisdiction to issue the lease of the foreshore water area of 1 lakh sqm (without port limits) of the waterfront area on the northern bank of the Zuari dated October 12, 2022.
The petitioners claimed that the lease document is unlawful and petitioned the High Court to intervene, in order to have it annulled. They added that resources like air and water is important, it would be completely unjustified to turn them over to private hands. For more than ten years, locals and environmental organisations have opposed the marina project.
The petitioners stated that the setting up of the marina at Nauxi bay would be merely for pleasure and not a necessity for the public at large. Members from the fishing community have stated that their livelihood will be destroyed with the setting up of the marina, the petitioners said. As per the petitioners, building the marina in Nauxi bay would be purely recreational and not necessary for the general public. They claimed that the construction of the marina will harm the local fishermen’s means of subsistence given the chance provided they had conducted their mining in a transparent manner.
Additionally, minor miners would be given smaller leases
Mining to resume in Goa after five months: Chief Minister
According to Chief Minister Dr Pramod Sawant, mining would resume in Goa in the next five months. He anticipated that the process of obtaining environmental permits and auctioning would take around four months.
Since the ECs are clubbed, he said that the mines will be auctioned in blocks rather than leases.
Dr Sawant took a stance for the local miners in response to Fatorda MLA Vijai Sardesai’s query in the legislative assembly, stating that blocks longer than 10 kilometres cannot be put up for sale in accordance with the MMDR Act. Dr Sawant stated that local miners would be
DR PRAMOD SAWANT LAUNCHES PUBLIC GRIEVANCE PORTAL ON COMPLETION OF 100 DAYS IN OFFICE
Chief Minister Dr Pramod Sawant initiated a public grievance portal (https://dpg. goa.gov.in/) for time-bound settlement of public grievances upon his completing 100 days in office. The facility offers userfriendly platforms for citizens to lodge their grievances and check the status of their complaint, with the goal of improving the administration’s responsiveness, accountability, transparency, and citizenfriendliness.
According to Dr Sawant, the public grievance portal will operate continuously, and the complainant will be informed of the progress of his complaint within 48 hours. Each department will also have a public grievance officer who will be responsible for resolving complaints within the allotted time frame. When the deadline has passed, the complaint will be referred to higher authorities so that the required action can be taken.
The applicant will have access to a feature that allows them to check the status of their complaint online at any time. In addition, a special helpline with the number 9319334335 has been established for residents. The hours of operation for this call centre are Monday through Friday, 9.30 am to 5.45 pm, with a break for lunch between 1 pm and 2 pm.
Allegations of corruption, malpractice, employee harassment, atrocities, landrelated issues, legal issues, pension-related issues, service quality issues, and schemerelated issues fall within the general category of grievances that will be reviewed
Government establishes IT Advisory Council to support startups in Goa
The Goa government has established an Information Technology (IT) Advisory Council to support the state's startup and IT industries. Chief Minister Dr Pramod Sawant is the chairperson of the council while IT Minister Rohan Khaunte will be serving as the co-chairperson. The IT Advisory Council will give the state advice on the steps to be taken in order to create a robust startup and IT ecosystem that will support sustained economic growth and create numerous job opportunities. The other members include
Public Debt in the State increases by 12%, touches 27% of GSDP State should encourage Feni exports: Deviya Rane GOVERNMENT WILL ATTEMPT TO COMPLETE ALL PENDING PROJECTS, SAYS DR PRAMOD SAWANT Countries awaiting to sign agreement with Goa to run charters or flights: Chief Minister
The pandemic is still having a negative impact on Goa’s finances as evidenced by the fact that Goa’s public debt has climbed by 12 percent and reached 27 percent of the Gross State Domestic Product (GSDP) in 2021–2022.
Chief Minister, Dr Pramod Sawant, informed the state legislative assembly that loans of `17,514 crore had been obtained through the auctioning of state securities.
Shrinivas Dempo, chairman of the Dempo Group of Companies; Secretary (IT); Mohandas Pai, co-founder and Chairman of Aarin Capital; Jose Manuel Noronha, Chairman of the Goa Public Service Commission (GPSC), as well as other corporate representative According to Chief Minister Dr Pramod Sawant, many nations are eager to sign contracts with As a result, during 2021– the state government in order 22, market borrowings made to run their charters or flights. up 75% of the overall debt However, the agreements could basket. Twenty percent of the not be carried out due to a lack debt was made up of central of landing space and time slots loans, totaling `4,686 crore. at the Dabolim International The remaining `1,068 crore Airport. in funding was obtained Dr Sawant stated that through loans from financial the State currently has organisations such as the agreements with 18 nations Power Finance Corporation, due to the infrastructure at the National Cooperative the international airport, Development Corporation, and but this figure is expected to NABARD. increase once the greenfield In 2021–22, the provisional International Airport in Mopa GSDP increased by 9% as opens in September 2022. opposed to 5% last year. Dr Sawant reassured Additionally, tax collection the opposition, which had increased as the state's financial expressed concerns about the position changed throughout potential closure of the Dabolim that year, moving from a deficit Airport, that the administration to a surplus. The revenue had no plans to do so because Goa would eventually require two airports. Only 70 flights, he claimed, are allowed to arrive Goa government seeks to at the Dabolim Airport each According to Dr. Deviya complete all ongoing projects day since the airport forbids Rane, MLA, Poriem, the Goa as soon as possible and put landings in the hours between government should initiate and them into commission. The 9 am and 2 pm. Furthermore, encourage feni exports since Covid-19 pandemic and the the number of flights landing they will provide income for ensuing economic constraints, in Goa will increase to 150 if the women who pick cashew according to Chief Minister the Mopa Airport is put into apples in Goa's rural areas. Dr Pramod Sawant, prevented service. Earlier, Congress MLA There is a higher demand in the various projects of the Goa State Sankalp Amonkar expressed market for cashew nuts than Infrastructure Development concerns over the fate of the there is for cashew apples. Even Corporation (GSIDC) from airport after the opening of the though women collect it, a lot of being completed on time over Mopa Airport. Vijai Sardesai, apples are wasted. Rane stated the past two years. Due to GFP MLA, believes that that the government ought to these delays, the project costs Dabolim will be able to handle think about encouraging feni have increased, making it 11 million people once it has manufacturing so that the impossible to move forward been upgraded, compared to State may export the product with those projects in the Mopa’s initial capacity of 4.4 and provide these women an present. In some instances, the million. Dr Sawant stated that additional source of income. deadline could not be achieved the government has invested Given that feni is a Goan product because the necessary land over `850 crore for upgrading unique to the region and cannot was not fully obtained or land Dabolim Airport, pointing out be produced anywhere else; Dr was not acquired, while in that the Union Ministry for Rane confirmed that there is other instances the contractors Civil Aviation has confirmed already a demand for it abroad. were to be blamed. Following in writing that the Dabolim Rane also guaranteed assistance discussions with the MLAs, Airport will remain open via the Goa Forest Development the government has created following the completion of the Corporation, which she chairs a priority list – after taking Mopa Airport
during 2021–22 was `928.9 crore, compared to a deficit of `1652.4 crore the year before, due to the increased revenue from important revenue generating sectors like excise on alcohol, VAT on petrol, and GST. Goa made headway on infrastructure projects in spite of the financial hardships since capital expenditure increased by 32 percent – from `1996.7 crore in 2020–21 to `2638.7 crore. The increased capital investment was made possible via budget management across all departments.
The government claims that the implementation of reforms has assisted the state in paying off debt and managing the debt to GSDP ratio Dr Deviya Rane
Dr Pramod Sawant state finances into account – that includes projects like architecture and pharmacy schools that will be given priority. In addition, Dr Sawant said that the government was also considering finished but abandoned projects like the Ravindra Bhavan at Sancoale.
More than a few MLAs have expressed discontent over the delays in the completion of several of these projects since the GSIDC was constituted for the purpose that the infrastructure projects could be completed quickly
13 years of featuring the best of business in Goa
Established in 2009, Goa’s only business magazine Business Goa, celebrates its 13th Anniversary this year. As we cherish this celebration, we take a look back at the editions of the past year
By CASSANDRA CARVALHO
The 12th anniversary special July 2021 issue was themed ‘Bounce Back’ in the face of the pandemic. Industry insiders presented their ideas and strategies to overcome the economic lull and uncertainty that covid-19 had imposed on the world. Our regular features Starting Young (Ryan Menezes), Goan Brand (Narla) and Industry (Lakood) also found mention in the anniversary special.
The August 2021 issue of Business Goa took us back to the 9th edition of the Business Goa Awards with 23 awardees being honoured in a glittering ceremony that felicitated excellence in business and public service. Focus Goa threw light on tourism. Global Goa featured Vimson Group and Newlab’s Prospect Mining Studio to explore new possibilities in mining. Enterprise saw Dhruv Rajani highlighting his venture Imperial Wealth Services and the financial products offered by them. Goan Brand showcased Global to Local, a well thoughtout social entrepreneurship venture by Asha Arondekar to support women and their livelihoods. Dr. Vrinda Borker spoke on her rise from a lecturer to become principal of Dhempe College of Arts and Science in Lady Power. Bon Appétit highlighted Padaria Prazeres, a cosy little café offering classy European specialties.
The September 2021 issue of Business Goa gave us a preview of behind the scenes at Verna Industries Association, right up from its inception, to the dynamic body it is today. National Focus had India’s then Chief Economic Advisor, Dr. K V Subramanian being optimistic about the country’s economy. Goan Brand featured The Nature Masons, where products are made with natural ingredients and love. In the Interview section, Chandrashekar Prabhudessai spoke on his role as Chairman of the Institution of Engineers, Goa State Centre. Lady Power saw Sheryl de Sa elaborating on her rise in the hospitality industry and her role as President at Women’s Indian Chamber of Commerce and Industry Diversity and Inclusion (WICCI D&I) Goa. Bon Appétit highlighted Ping’s Bia Hoi, which boasts of authentic South East Asian fare with a beer garden and a perfect ambience.
The October 2021 issue of Business Goa saw Nandan Kudchadkar’s ‘All About Alcohol’ museum throwing open its doors to narrate the story of Goa’s tryst with the alcohol business. Starting Young had Rochelle Pinto highlighting her journey from being a young intern to the Founding Editor of Tweak India. Agus P. Saptono, Consul General of the Republic of Indonesia to India, spoke about trade between India and Indonesia along with the possibilities of investing in Goa, in the interview section. In Professional Dossier, senior advocate Jose Elmano Coelho Pereira outlined his journey from practising in the early 70s to being Advocate General of Goa. Bon Appétit highlighted Feliz, housed at DoubleTree by Hilton.
The cover story of the November 2021 issue of Business Goa featured the new Startup Policy that looked to promote startup entrepreneurship in Goa. Focus Goa emphasized about responsible tourism. Three young founders spoke about their tech startup, Scanwich (Starting Young). Sridevi Sira, National Lead, NASSCOM FutureSkills, spoke on the organisation’s MoU with Goa Technology Association. Dr Vikram Dukle highlighted
Goa’s first Aesculap Einstein Vision 3.0 3D laparoscopic surgical system. Chartered Accountant Edwina de Souza Cordeiro was featured inLady Power. Bon Appétit featured a Japanese dining experience at Grand Hyatt Goa.
The December 2021 issue of Business Goa kept up with the festivities, as the Cover Story saw entrepreneurs and retailers shed light on various ways to market their wares in light of the pent-up demand in the festive season. Focus Goa threw light on the new covid variant Omicron. Startup Promotion Cell (SPC), Government of Goa and CII Goa organised a virtual Startup conference and exhibition on ‘Enhancing the Start-up Eco-system in Goa’. New Biz had Sandra Sousa Menon’s new venture, Potpourri. Goan Brand brought Ria Patil Chandray’s brand Josa, into focus, which ensures that women have access to comfort with care. Real Estate celebrated 25 years of Denzil Xavier as one of Goa’s leading realtors.
The January 2022 issue of Business Goa ushered in the New Year with former President of Goa Chamber of Commerce and Industry Manguirish Pai Raiker; taking a walk down memory lane to list out the highlights of Goa’s tryst with industry in the post- Liberation era. Focus Goa threw light on the important financial and tax changes to look out for in the New Year. Accolades saw Venkatesh Dempo and Viraj Marathe making Goa proud by winning the national level Google Code To Learn Contest. Interview had Pravin Satardekar Chairman of Institute of Company Secretaries of India; Goa Chapter speaks on his plans as Chairman and challenges faced in the realm of corporate governance in Goa.
The February 2022 edition of Business Goa had Tulip Diagnostics (P) Ltd., one of the largest manufacturers of invitro diagnostic reagents and economist Satyendra Nayak analysing Union Budget 2022. Focus Goa saw Ralph De Sousa elaborating on the industry’s expectations from the new Government; and Manguirish Pai Raiker deconstructed the new draft policy for MSMEs. AaniEk, is the Goan Brand which curates infused feni with various flavours. Bon Appétit highlighted the best of Goan Saraswat cuisine which is on offer at Kokum Curry.
The March 2022 issue of Business Goa featured Dr. Emanuel Gracias, obstetrician, gynaecologist and minimal access surgeon at Gracias Maternity Hospital providing an insight on his vision to transform healthcare, redefine doctor-patient relationships. Focus Goa saw the state’s social media influencers explain the key aspects and functions of influencer marketing. As we celebrated Women's Day, a few lady bosses spoke up on issues faced by them as entrepreneurs and professionals in a post - covid scenario. Startup put Brunch Bites into focus, a brand which aims to revolutionise the eating habits by serving are fresh, healthy and hygienic meals. Alden do Rosario on creating Uttor, the Konkani version of the hit, daily game: Wordle, in Global Goan. Lady Power featured Prof Dr. Sushila Mendes, an educator who recently won the State Award for Excellence for teachers 2021.
In April 2022, we featured the 10th edition of the Business Goa Awards, which was celebrated in grandeur with 25 awardees being honoured in a splendid ceremony. Focus Goa saw CA Rohan Bhandare analysing the Goa State Budget, while explaining allocations to various verticals. Leadership put Mahendra Kumar Gupta into focus. Interview had Swati Salgaocar, the newly elected Chairperson of CII-Goa State Council share her plans for the organisation in the year ahead. GKB Hi-Tech Lenses, a brand synonymous with ophthalmic lenses was our Goan Brand for the month. Bon Appétit highlighted Larder and Folk which brings the best of sweet and savoury creations to delight one’s taste buds.
The May 2022 edition featured Tanmay Kholkar, founder of one of Goa’s fastest growing real estate companies, Manas Developers. Focus Goa had the Government directing mining leaseholders to vacate their leases. Goa Technology Association brought the state’s eminent techpreneurs together to share their ideas for the industry. Starting Young saw Dielle Pillay highlighting her journey from learning music to opening up her own music academy. Interview had Nilesh Shah, who was re-elected as President of Travel and Tourism Association of Goa. Our Goan Brand for the month was Spexmojo whose goal is to be the trusted advisor for their clients by investing their money to preserve capital and deliver long-term returns.
The June 2022 issue of Business Goa saw Goa’s Chief Minister Dr Pramod Sawant elaborating on his ideas to attract industries to Goa. Focus Goa presented an insight into various perspectives of the fishing ban and the mechanised fishing business; along with the draft industrial policy highlighting the simplification of online systems and application process, while promising to cut down on red tapism. New Frontiers put Rajkumar Kamat, into focus, who talked about his ideations, current plans and future direction for his company; and getting listed on the bourses. Enterprise highlighted Paul Chadda’s brand Bliss Space, which is a respected name in the domain of kitchens and wardrobes. Dr. Sangeeta Sonak spoke about her achievements and projects as an environment researcher in Lady Power.
All in all, a year of renewed hope and vigour in the realm of industry, entrepreneurship and excellence
kits in India, headed by Deepak G. Tripathi, as the Cover Story. The National Focus had
Business people from all over Goa and entrepreneurs of every hue are the readers and stakeholders of Goa’s only business magazine. I would like to congratulate Business
Congratulations to Harsh, Urvija, and the team at Business Goa on the completion of 13 glorious years. A premier business magazine of Goa,
The Business Goa Team has never failed to impress me with their stories about new and budding entrepreneurs from Goa. Giving these businesses the required visibility and highlight in order to open up opportunities is a very important role that Business Goa plays in the state’s business ecosystem. Getting showcased on Business Goa is the dream of every Goan businessman.
Maintaining the magazine’s standard is very important and I believe that Harsh has done it quite beautifully. Similarly, giving mileage to every business Goa magazine on its 13th anniversary. Harsh and Urvija have been publishing this magazine continuously for the last 13 years. I attended the 10th Business Goa Awards ceremony this April. I would like to applaud the magazine's efforts to promote industry and entrepreneurship in Goa, with a strong focus and emphasis on industry and excellence.
As Goa’s Chief Minister, I am committed to encourage and promote entrepreneurs from all sectors and facilitate on the ease of doing business.
Business Goa has been voicing the opinion of industry and entrepreneurs, which is often a good point of reference for policy makers
Dr Pramod Sawant
Chief Minister, Goa
which has grown in leaps and bounds in content and coverage while touching upon the current and critical business issues of Goa, the Business Goa team has showcased the tenacity to withstand the pandemic and came out victorious. The lockdown did not deter them from providing our brains with fresh business news and updates. I always appreciated Harsh’s efforts in identifying new entrepreneurs and giving them a platform to showcase their business ideas. I wish the Business Goa magazine more success and accolades in the years to come Jayesh Raikar Director, Goldy Group
from the North to the South has been his passion
Mangirish Salelkar
Business Goa has been consistently providing information about businesses in and around the state of Goa, thus playing a major role in promoting, representing, and
13 is a lucky number for some! It certainly is for Business Goa as it enters its teens. Teenage is an exciting age of discovery and growth. The magazine has chronicled the growth of Goa through business enterprise for well over a decade. From mining to tourism and real estate, it has captured Goa’s evolution over the years.
Business Goa has survived the onslaught during covid successfully with every issue coming out on time. The publication is inspirational for young entrepreneurs and pole vaults lesser known entrepreneurs to fame. I wish I have seen the rise of Business Goa since its inception and have taken a keen interest in its growth. When I was president of Goa Chamber of Commerce and Industry (GCCI), I saw from close quarters, the dedication of the magazine to focus on Goan businesses and industries. Later, my business house, NRB Group was associated with ‘Business Goa Awards’ for six long years; and it was satisfying to have been part of the idea that felicitates business achievers in Goa.
I wish Business Goa many more years of success
Narayan Bandekar
Chairman, NRB Group
motivating the Goan business fraternity. The magazine’s love for the business sector continues to remain strong, keeping its readers informed about the things going on and the accomplishments of various individuals in the entrepreneurial space. In this day and age, wherein businesses struggle to survive, Harsh and his team have done a commendable job in constantly finding Goa’s pulse in almost every sector of industry.
On behalf of the Bandekar Group, I heart fully wish Harsh and the Business Goa team a happy 13th Anniversary and a prosperous journey ahead
Deepak Bandekar
House of Rajaram N.S. Bandekar
Harshvardhan and his team greater success for the years to come
Dr Mukesh Batra
I extend my heartiest congratulations to the team of Business Goa on the completion of yet another major milestone on their 13th anniversary.
Over the years, the magazine has forged an impressive path, meeting the expectations of its delighted readers, encouraging new entrepreneurs, and attaining widespread popularity as Goa’s only business magazine.
I wish you all the success and goodwill in your future endeavours. Good health and happiness to you all!
Congratulations to Mr Bhatkuly and the team of Business Goa for successfully completing 13 years of the publication.
As Goa is the smallest state of India, it is difficult
Dr Sean da Silva
Medical Director, ASG Eye Hospital
for business magazines to survive knowing the limits of the business volume and subsequent readership. Despite this difficult environment, Business Goa has managed to stay relevant and successful over the years. The Business Goa magazine has boosted the morale of many young and new entrepreneurs while also popularising their products and services in the state. Moreover, they have managed to give due credit and exposure to the established business houses.
Keep up the good work and wishing many more successful years to you
Prakash Pereira
Director, Armarcar Group
Business Goa is the lead business magazine which promotes Goan entrepreneurs. It serves as a source of motivation for emerging businessmen and makes a lot of difference to their self confidence and entrepreneurial spirit.
The magazine, through its ample coverage and the annual Business Goa Awards, plays a big role in recognising local enterprise and talent, especially the first generation Goan entrepreneurs, which would not have been possible otherwise.
Since nearly all of their editorial and events coverage is Goa-centric, we highly recommend that our clients advertise with Business Goa.
I wish to congratulate Harshvardhan and Urvija Bhatkuly and their team in bringing out Goa’s only business magazine for the last 13 years and wish Team Business Goa all the very best! Angelo Nunes Owner, AdCity Advertising I wish to extend my heartiest congratulations to the Editor, Harshvardhan Bhatkuly, as well as the entire team at Business Goa on the successful completion of 13 years of operation in Goa on behalf of Goa Marriott Resort and Spa.
The magazine, which is Goa’s first and only business publication devoted to business, trade, and commerce, has succeeded in capturing the interest of everyone involved in the state’s booming business community. We have had long-standing relations and successful connections with the publication. I hope for the best
I visit Goa at least four times a year, sometimes six. It is an eclectic mix of business work, staying at my ancestral home in Assonora, and attending a few pre-invited social dos or mixers. I struggle to tell all my associates and friends in Mumbai that I am off to Goa for work! Goa is considered to be just beaches, fun, frolic, feni, resorts, and perennially expensive taxi issues – all mixed and garnished with the susegado attitude.
Business Goa, published and edited by Harshvardhan Bhatkuly, is the eye, ear, nose, My best wishes to Harshvardhan and the entire team of Business Goa on the 13th anniversary. Business Goa has encouraged young business minds, successful professionals and people with an impact on the social sector. I always look forward to their new edition for industry insights and latest trends. Thanks you and best of luck! Aditya Desai
Saad Infrastructure India Pvt. Ltd
for Mr. Bhatkuly and the group in the upcoming years
Gaurav Apte
General Manager, Goa Marriott Resort and Spa
and voice of the business world in Goa. Last but not the least; it creates a yearning in Non - Resident Goans to return to Goa, as its true daughters and sons.
How do Harsh and his team do it? Issue after issue, sniffing around the cities of Panaji, Margao, Ponda, Vasco, Mapusa, and all the waddos of Goa? Twenty percent of the Business Goa subscribers and readers are Non-Resident Goans, living abroad, always waiting for that business opportunity in order to return from the Middle East, Europe, or Portugal.
On the occasion of the 13th Anniversary of Business Goa, I wish the team on behalf of Lawrence & Mayo Group. It has always been a serious and mature magazine and the annual Business Goa Awards is something which my wife Dr Suhani and I never miss.
Kudos to Business Goa!
Vivek Mendonsa
The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” I think when Business Goa began 13 years back, it really understood the need of being that beacon in the industry, to tell the world, how Goa and its industries strive to be the best in their class, articulating their struggles and successes, month to month, painstakingly for the last 13 years. As Business Goa celebrates its 13th Anniversary, we at Fortune Miramar are proud to be associated and celebrate this grand milestone with you. We look forward to many great articles with valuable insights and entrepreneurship journeys
Ricardo D’Lima
Cluster General Manager - Goa and West Coast, Fortune Park Hotels Ltd.
Congratulations Harsh and team Business Goa for giving us a magazine worth waiting for, every month. It is no easy task what you and your team have achieved, in bringing the best reading material for the last 13 years. I wish you and your team many more successful years ahead and hope in the days to come your magazine will not only be sought after in Goa, but pan India. Wishing you all the very best, from an avid reader
Dinesh Sinari
Parijat Traders I fall, I cry, I get up and walk again, As long as I have this childlike resilience, The wonders of life are mine to explore…
Congratulations to Business Goa on its 13th Anniversary.
We are proud of your presence, persistence, and perseverance to always stay current and be a valuable part of the business community in Goa.
May the future see this publication grow along with the industry and continue to
Business Goa is Goa’s premier business magazine and I have always appreciated the efforts and focus that this magazine has in order to promote local businesses and start up initiatives. I would like to congratulate Harsh and the team at Business Goa on their 13th Anniversary and wish them continued success in the years to come Guitry Velho Vice President and General Manager, Heritage Village Resort and Spa Congratulations to the editorial team of Business Goa on achieving another milestone and completing 13 years in the field of business journalism. The efforts and hard work invested in bringing out resourceful and healthy information and boosting the business growth in Goa is highly appreciated.
Business Goa has always been at the forefront of boosting new minds and promoting talent from the Goan business diaspora. Business Goa has gathered remarkable recognition in the last 13 years, and we wish the team will
be a point of reflection and inspiration to all
Carlos de Sousa
Managing Director, de Sousa Group
Business Goa has been the pioneer for the last 10 years in providing Goan businesses an apt platform to showcase themselves.
This platform has inspired thousands of entrepreneurs in the state and has boosted the morale of existing businesses thereby fostering and nurturing a strong community.
Goa is always promoted as tourism hub but Business Goa has been successful in propagating over hundreds of success stories of indigenous entrepreneurs to readers across the globe.
FiiRE Goa is working closely with next gen tech entrepreneurs in Goa and truly appreciates the efforts put in by the team at Business Goa.
I wish Business Goa decades of success and prosperity!
D S Prashant
continue their endeavour in acknowledging the efforts done by the business fraternity
Ankit Prabhudessai
Architect
On the 13th anniversary of its publication, I wish to extend my best wishes to the team of Business Goa. It is indeed a milestone in itself. Having read many magazines during my travels across the globe, it wouldn’t be an exaggeration to state that Business Goa is one of the finest reads
Prashant Kumar
Principle Consultant, Mindspace Certified Coach (London)
Over its journey as a teenager, Business Goa has helped shape my understanding of the corporate surroundings as they are in the state. Business Goa has a vibrant cover, classic reportage and an attractive spread of write-ups, which has consistently built over the years thus making it the prima donna magazine of Goa Pavan Agni Founder, BuySpex
ANNIVERSARY SPECIAL Celebrating and applauding the Business Achievers of Goa The 9th edition of the Business Goa Awards was held in August 2021, with 23 awardees being fetted for their business excellence
The 9th edition of the Business Goa awards was celebrated in grandeur with 23 awardees being honoured in a glittering ceremony that felicitated excellence in business. The HDFC presents Business Goa Awards 2021 was held on 1st August 2021 in a glittering function at Goa Marriott Resort, Miramar, in view of the pandemic protocols.
Organising an event of this scale, in the shadow of covid-19 was not a cakewalk, yet Business Goa went ahead and presented a business awards function that Goa could be proud of – The Business Goa Awards for Corporate Excellence – an awards ceremony honouring all those who have significantly contributed to Goa’s vibrant economic development. 2020 and early 2021 saw businesses crumble and fall victim to the pandemic, which swept the ground beneath our feet. Goa being the smallest state, suffered at every turn, yet the common man along with the business fraternity rose up like the proverbial phoenix from the ashes and managed to innovate and adapt themselves to the changing circumstances.
Although held on a smaller scale as compared to past editions, the who’s who of the business world in Goa made their presence felt and said that the event helped uplift spirits and boost their morale.
The keynote speaker for the evening was Sanjay Kirloskar, Chairman of Kirloskar Brothers Pvt. Ltd, who delivered his speech remotely, which was played on screen.
The awards were spread across various categories spanning across sectors, scale and size of businesses. These categories range diversely to cover sectors like hospitality, real estate, manufacturing, technology.
The event saw 23 awardees being recognized for their efforts in the space of business, economy and excellence. The four categories of the Awards – Hospitality & Real Estate, Excellence, Best Companies and Top Honours, honoured some of the best and brightest minds for their contribution to business and excellence in Goa.
The winners in the Hospitality & Real Estate category were Saad Infrastructure (Real Estate Company of the Year), Rajdeep Builders (Real Estate Brand of the Year), L & L Builders (Contribution to Real Estate), Hilton Goa Resort (Luxury Hotel of the Year), Peep Kitchen (Best in Goan Cuisine) and Prashant Kumar (Hospitality Consultant of the Year).
The winners in the Excellence category were Heta Pandit (Preserving Goan Heritage), Mac Vaz (Service to Business), Rotary Club Panaji Riviera (Social Responsibility Award), Verna Industries Association (Business Organisation of the Year), Supriya Rane (Author of the Year) and Kishor Naik Gaonkar (Journalism).
The winners in the Best Companies category were Kilowott (IT Company of the Year), Glazetech Systems (Industry of the Year), Como (Style Business of the Year), AR-Mine's Industries (Make in India Award), Wooden Homes India (Goan Brand), and Spintly (Startup of the Year).
The awardees in the Top Honours category were Nandan Kudchadkar (Influencer of the Year), Dr Kedar Padte (Professional of the Year), Molbio Diagnostics Pvt. Ltd. (Innovation in Healthcare), Damodar Kochkar (Business Leadership Award) and Narayan R Bandekar (Lifetime Achievement Award).
HDFC Bank was the title sponsor; Fortune, Miramar and Tangentia were the associate partners for the awards.
The event was powered by Dr. Kurade’s, Real Group of Companies, and Vision Dempo. John Distilleries was the beverage partner, TPT Productions was the creative partner, Goa Hyundai was the automobile partner, while My Goa and Savoir Faire were the magazine partner and organising partner respectively. AdCity was the outdoor partner, Goa Marriott Resort was the venue partner and DNA-Goa was the broadband partner. The host for the evening was Swapnil Kamat, CEO and co-founder of Work Better Training
ANNIVERSARY SPECIAL A Decade of Celebrating and Honouring the Goa’s Business Stars
The 10th edition of the Business Goa Awards was held in April 2022, in grandeur, where 25 awardees were celebrated in a glittering ceremony that toasted the best of Goa’s business
The 10th edition of the Business Goa awards was celebrated in grandeur with 25 awardees being recognised in a splendid ceremony that felicitated excellence in business The Spexmojo.com presented Business Goa Awards 2022 for Corporate Excellence was held on 3rd April 2022 in a grand function at the Goa Marriott Resort, Miramar.
With a bold and brilliant goal of being the ‘Voice of Business in Goa,’ Business Goa magazine celebrated the 10th edition of the Business Goa Awards with much pomp and glamour. The ceremony was graced by many prominent personalities of the business world. Having awarded more than 255 persons till date, The Business Goa Awards for Corporate Excellence is one of the most coveted business award events in Goa. It celebrates and honours those individuals and businesses that have made massive contributions in the social and economic growth of the State.
The keynote speaker for the award show was none other than the Chief Minister of Goa, Dr. Pramod Sawant. While congratulating the organisers and award winners, he stated that the Government of Goa also plans to organise a similar function in the future in order to promote and support the up and coming entrepreneurs in the state.
Business Goa Awards 2022 saw 25 awardees being acknowledged for their efforts in the space of business, trade, technology, and excellence. The awards encompassed various personalities, businesses, and start-ups that have achieved significant milestones in Goa’s socio-economic milieu.
Some of the best and brightest minds in the State were honoured for their contributions to business and excellence in four categories of the Awards – Hospitality & Real Estate, Excellence, Best Companies, and Top Honours.
The winners in the Hospitality & Real Estate category were Manglam Build Developers Ltd (Real Estate Company of the Year), Equiknox (Real Estate Brand of the Year), Copperleaf - Panaji (New Restaurant of the Year), and Hamerzz (Best Nightclub of the Year).
The awardees in the Excellence category were Goa Business School (Excellence in Education), Sanjay Centre for Special Education (Social Impact Award), Priyanka Row (Enterprise Changemaker), A. Durga Prasad (Excellence in Film Making), Dr Emanuel Gracias (Excellence in Women’s Healthcare), Forum for Innovation Incubation Research and Entrepreneurship (Startup Incubator of the Year), Mangirish Salelkar (Leadership in Technology), and Lokmanya Multipurpose Co-op Society Ltd (Excellence in Banking).
The winners in the Best Companies category were Shukra Jewellers (Jewellery Company of the Year), ASG Eye Hospital (Healthcare Brand of the Year), Cottons Daily (E-Commerce Company of the Year), Saltwater Sutra (Investment Banker of the Year), Blisspace (Modular Furniture Company of the Year), AdCity Advertising (Outdoor Advertising Agency of the Year), Purple Crest Advertising (Advertising Agency of the Year), and CAM Industrial Services (Excellence and Sustainable Development in Sanitation and Waste Management).
The awardees in the Top Honours category were GKB Hi-Tech Lenses Pvt Ltd (Brand of the Year), B:Live (Startup of the Year), Santosh Kenkre (Professional of the Year), Ralph De Sousa (Business Leadership Award), and Mahendra K Gupta (Lifetime Achievement Award).
The host for the evening was Swapnil Kamat, CEO and co-founder of Work Better Training.
Spexmojo.com was the title sponsor while ASK Wealth Advisors, Manas Developers, and Fortune Miramar were the associate partners for the awards.
The event was powered by Dr. Kurade’s, Assess Build Chem Private Limited, Tangentia, and Frontline Managed Services. John Distilleries was the beverage partner, Goa Marriott Resort was the venue partner, Indigomusic.com was the radio partner, TPT Productions was the creative partner while 25fps was the video partner. My Goa and Savoir Faire were the magazine and organising partners, respectively
GROWTH THE ANATOMYof
As Business Goa enters its teenage years, we bring to you the growth stories of various industry captains and entrepreneurs
It is aptly stated that growth is a stage in the process of growing. No matter the size or the capital invested in a company, every entrepreneur seeks to improve their business by employing various growth methods. The same can be said regarding an individual, or, in our case, a publication.
With constant dedication, commitment, and passion for representing the voice of business in the state, Business Goa has successfully completed thirteen years as Goa’s only business magazine. It would not be wrong to state that the publication has entered its teenage years, since “thirteen”
By SYBIL RODRIGUES & SWETA SHARMA marks the entrance of a human being into adolescence – a period of spontaneous growth and drastic change.
Dhirubhai Ambani, founding father of Reliance Industries boldly declared, “Ideas are no one’s monopoly. Think big, think fast, think ahead.” Before the execution of any idea, it must be dreamed of, thought of, and formulated. However, envisioning a product or a business is not hard; there could be millions of people with the same idea.
What matters is the dexterity and industry one shows with their ideas, the way in which they are employed in order to build a successful company. Although it is true that the success of a business relies heavily on finances, the resilience and gusto one shows while taking that business forward is also important. The billionaire industrialist, philanthropist, and Chairman of the Aditya Birla Group, Kumar Mangalam Birla has rightly said, “The golden rule I can think of is the fact that you must follow your passion and do something that is close to your heart.” The cover story chronicles the histories and memories of enthusiastic industry magnates and entrepreneurs who have created a niche for themselves in Goa’s business ecosystem. “None can destroy iron, but its own rust can. Likewise, none can destroy a person but his own mindset can,” states Ratan Tata, one of the most influential businessmen that India has ever seen. Similarly, it is important for leaders and enterprises to continue learning, innovating, and growing. Only through persistent work and struggle do we gain the strength required to grow.
Those who actively pursue growth will be able to rid themselves of the rust of inactivity, thus advancing both internally and externally
COVER STORY GROWTH TO ASSERT LEADERSHIP
Growth to conquer new horizons
Shrinivas Dempo is the Chairman of Goa’s leading business house, Dempo Group of Companies, whose modernera activity cover calcined petroleum coke production, shipbuilding, newspaper publishing and electronic media, food processing, real estate development, sports promotion, the travel business, and renewable energy generation.
When Shrinivas took over the business, the Group ran six operating businesses, their largest one being mining. Back then mining had a turnover of around `1000 crores.
The Group had Goa Carbon which is a listed entity and is in the calcine petroleum coke business and lesser size businesses such as ship building, real estate and food processing. The total turnovers of all these entities were around `2000 crores when he took over.
As soon as Shrinivas took over the business, along with
the rest of the stakeholders, they took a strategic decision to exit mining as they felt it would be in the best interest of the Group to do so. With the liquidity
The de Souza Group is a leading business house based in Goa. It has interests in hotels, tour and travel companies, forex, serviced apartments, construction, and estate holdings. The dynamic nature of the group has seen it evolve constantly to keep ahead of the changing trends. What hasn’t changed, are the standards of excellence they have always been known for. The group was founded from scratch by Ralph and his brother, late Norman de Souza, both first generation entrepreneurs. Their foresight of the growth of tourism in Goa in the 1980s, both in the domestic and international markets motivated the two brothers to venture into the hospitality business. The brothers witnessed the rise in footfalls of tourists and in the mid 80s commenced their business with one resort; and the rest is history. The starting of charter flights from Germany and UK triggered the idea of growth for the De Souza brothers. The direct connectivity between Goa and overseas destinations through Air India, Indian Airlines, Air Arabia, Oman Air and Qatar Airways provided a boost to international FITs movement. Goa’s cuisine popularised by O Coqueiro, Nostalgia, Mandovi and Sousa Lobo brought many an elite domestic visitor into Goa. Mario Miranda with his illustrations and cartoons reached the length and breadth of the country and consolidated Goa in the international map during his world wide exhibitions.
The launching of the Fort Aguada Beach Resort in 1974 and the Oberoi Bogmalo around the same time were the important milestones that motivated all young hospitality entrepreneurs which led to the boom of tourism in Goa. The loss of Norman in 2011 was a personal blow and it created a vacuum in the group’s
SHRINIVAS DEMPO
Chairman, Dempo Group of Companies
and the cash that was available each of their verticals could grow looking at the size of the market in India and the kind of export opportunities available.
management domain. With regards to the next growth stage, Ralph has handed over the baton to the next generation. “Carlos Noel is looking at going into small luxury hotels, while Lana Sophia has successfully branched into readymade garments, and Karla Maris is a This is what triggered growth and Shrinivas felt that either one should grow or perish as a group.
One important milestone that the Group achieved was becoming a significant player in the calcine, pet coke industry. When he took over, in terms of capacity they used to control hardly 10% of the Indian market and today they are number two in the country while controlling almost 30% of the capacity.
Speaking about growth, Shrinivas wishes his Group to be a significant player in all their business verticals. “Today, if you don’t grow to a particular size, you can’t survive forget about thriving. Each of our verticals has a growth plan. I feel that turnover is only a matter of numbers. In the next five years I would like to double our turnover. If we look at all these ideas we can have a huge growth potential so those are our aspirations and dreams to take it forward
RALPH DE SOUSA
Chairman, de Souza Group
professional by her own merit and pitches in the business as and when required. With over 350 rooms, three travel companies, Goa’s second largest Forex division; and an estate development firm, the de Souza Group is poised to conquer new horizons”
Visionary Growth Story
GROWTH IN THE R&D SPACE OF MEDICAL DIAGNOSTICS
Mahendra Kumar Gupta, an Engineer (BE) by profession, is the Chairman and Managing Director of GKB Hi-Tech Lenses group of companies. They are manufacturers and exporters of spectacle ophthalmic lenses.
Gupta was born in Delhi and came to Goa in 1982. He shifted part of his family business of manufacturing ophthalmic lenses to Goa, Tivim Industrial Estate back in 1982, making Goa famous on the international optical trade map. His company products ‘Opththamic lenses’ or ‘Spectacle Optical Lenses’ are manufactured using stateof-the-art technology in Goa and exported to 30 countries all over the world.
The company also has laboratories in other states of India as well as outside the country at Dubai, Sharjah, Iran and South Africa. When Gupta took over the business, the company turnover was `10 lakhs a month; and today
Founder-Director and Chief Executive Officer of Molbio Diagnostics Pvt. Ltd., Sriram Natarajan ventured into the business world with a certain the company has grown to doing `22 crores of business per month. Gupta had a vision and focus to build up his business and firmly believed that hurdles were just stepping stones to success. Gupta had three important milestones that he associates with growing his enterprise. The first was to take Indian optical trade for exports to South Africa after apartheid in 1992; the second to re-mould the Indian optical business to go directly to the optician without an intermediary; and the third was to decentralise the manufacturing and distribution of the company to create a large network throughout the country.
All of these three milestones were successfully achieved by Gupta – including being able to quickly adopt the latest technology in lens manufacturing. As far as the next growth stage is concerned, Gupta says, “We have moved to the path of becoming one-
vision in mind. With an experience of thirty-four years in developing, manufacturing, and marketing of diagnostic kits and equipment, Sriram wanted
MAHENDRA KUMAR GUPTA
stop-shop for opticians as well and consumers by supplying complete spectacle according to the prescriptions and this will further take our company to greater heights”
SRIRAM NATARAJAN
Founder-CEO, Molbio Diagnostics Pvt. Ltd.
to create a new technology that would revolutionise the molecular testing world.
During the pandemic, Molbio Diagnostics was the first Indian company to be approved for covid testing. It took Sriram and his team almost fifteen years to create Truelab Real Time Quantitative Micro PCR System. The revolutionary product enables PCR technology right to the point-of-care, independent of laboratory settings, facilitating early and accurate diagnosis for around 35-40 infectious diseases.
When it comes to Indian technology, not only is the Research and Development part very time consuming but it is also very demanding in terms of resources. However, the company successfully overcame these difficulties.
Molbio Diagnostics is endorsed by the World Health Organization for tuberculosis (TB) diagnostics. A majority of the nations in the world, whose citizens are plagued by TB, are eager to introduce this platform in their countries. It is a milestone achievement since Molbio is the only company to be approved as a point-of-care technology.
Sriram seeks to expand his company in the following years with the aim to achieve a billion dollar turnover.
By establishing firm ties in the market and finding reliable distributors for its products, the company hopes to become a dominant player in the next three years.
On the subject of growth, he says, “Growth is the fundamental part of any business enterprise. Unless your business grows, the sustainability of the business itself becomes questionable. You have to keep innovating and growing in order to be relevant and do better than other people in the market. Business is not just about survival – it is about growth and productivity
Growth with global synergies
GROWTH TO SUSTAIN ENTREPRENEURIAL VISION
Like the Ambanis at Reliance fully described it, growth is life and the same is for business, articulates Shekhar Sardessai, Chairman and Managing Director of Kineco Group of Companies. Since its commencement in 1995 as a small industrial unit in Goa, his company has emerged as one of India’s leading and innovative enterprises in the field of composites, with its presence across multiple sectors such as defence, aerospace, railways and industrial. In 2013, Kineco tied up with Kaman Aerospace, USA to get on into overdrive mode of business expansion.
According to Sardessai, growth is not only required to make a business grow but to assure that the business sustains over a longer period of time. In the face of the intense competition that everyone is facing, entrepreneurs have to be privy to the fact that the only way to sustain and lead the competition is to create a scale which gives them the strength to sustain the onslaught of competition.
Kineco has strived for nonfinancial milestones as their stepping stones to growth – realising a product for the market has always been their foundation.
Although finances are one of the most essential factors for growth, says Sardessai, it is not the only thing that leads to the success of any business. One needs to have the ability to visualise growth and competition in the market, eventually developing the ability to articulate one’s business strategy in a manner that allows them to use the money effectively and achieve the scale envisioned for the business. Relating to the future of his company, he states, “At this point of time, all the markets that we are into are in a very buoyant stage of growth. I see us having all the fundamentals in the right place and at the
SHEKHAR SARDESSAI
Chairman and Managing Director, Kineco Group
right time, I believe in the next five years, a thousand crore milestone will be reached.
ATUL PAI KANE
Chairman, Pai Kane Group
Atul Pai Kane, who has more than 33 years of experience in the industry, has built a solid repertoire of engineering be associated with the growth of a business enterprise. Revenue, profits, and the number of employees in a company are the straight forward ones. The more qualitative metrics for him would be the number of repeat customers, growth in annual recurring revenue, long-term contracts, low returns, low early hour failures, growth in market, and geographic penetration. He states, “Growth could occur due to multiple processes. SQCLDM (Safety, Quality, Cost, Delivery, Logistics, and Management) is a good start point. All of these must be preceded by an idea which needs to be supported by an objective and nurtured with passionate planning and execution.”
Most importantly, it must be in accordance with what’s desirable, be it better margins, quality of customers, cash flow, opportunity for adjacent businesses, or an increased life time value
“Growth could occur due to multiple processes. SQCLDM (Safety, Quality, Cost, Logistics, Delivery, and Management) is a good start point” products and services to meet the demands of a variety of people in the global market. As Chairman of Pai Kane Group, he has transformed the Group into a world class enterprise. Setting the group’s vision and strategy as well as identifying and developing new areas where the Group may contribute, he consistently pushes his team to raise the bar for the entire company. Additionally, Pai Kane has actively participated in various business organisations and presided over the CII Goa state council from 2013 to 2014. He has also led Goa State Industries Association. In addition to being a member of the state’s Investment Promotion Board, he was chosen in 2012 as the Task Force’s leader to devise Goa’s investment policy. According to Pai Kane, there are many milestones which can
We want to sustain our leadership in each of the market segments that we compete in”
Breaking new grounds for growth
GROWTH TO MANAGE THE EARTH’S SUSTAINABILITY CHALLENGES
Afirst generation agribusiness, established in 1994, with a passion for excellence and innovation, Dr Kurade’s is a well known name in this sector, in India and globally. With two farms Zuari Foods & Farms Pvt. Ltd. and Tropical Mushrooms (Goa) Pvt. Ltd., it is one of the largest and oldest (Zuari Foods) mushroom agribusiness in India. Two multi-facility farms are spread over 1,20,000 sq. mt. with 2,70,000 sq. ft. of vertical growing area and presently has an installed capacity of over 6000 tons annually of fresh mushrooms with sales and distribution all over Western and Southern India. Dr Kurade’s has been in business over the last two decades, having started the business from ground up and has seen the market evolve over the years. They have been growing mushrooms even before people could include this super food in their regular food cycle due to its health benefits. The business had to be build brick by brick through lot of micro management and took a calamity to ensure growth in order to survive.
Growth was the only salvation for the survivor! Dr Sangam Kurade mentions that the Canacona flash flood of 2009 was an important milestone for growing his enterprise. They were not in the market and consumers across Goa not only wished them speedy comeback but within 3 days of their re-launch they managed to regain their full market. They attribute their recovery to the blessings and good wishes of the consumers who have placed their trust in their product and found value in their brand.
Going forward, Dr Kurade says, “While our last decade of growth was planned to reach a certain scale and reach on pan India basis, our vision, besides growing scale in what we do, is to create new verticals and create innovative new products in
DR SANGAM KURADE
Managing Director, Dr Kurade’s
allied areas of processed foods, seeds and agri renewables. This would also require us to have multiple facilities beyond Goa and to have a presence beyond India”
RAJKUMAR KAMAT
Founder & Managing Director, EP Kamat Group
Today, I believe we are sitting on a heap of opportunities because of the product lines that Treatment Plants (ETP) – to their product offerings. Thus, they are able to cater to the requirements of top hotel chains, multi national companies, housing complexes, institutions and the government, besides builders and individuals whom they were already catering to.
Kamat believes that growth is the objective of a person entering a business. In addition, when somebody is running their business, they cannot just look at the growth of the company but must look at the growth of their employees as well. “Consistent growth is a must. If there is no growth, the organisation will decay,” he opines.
Kamat envisions the company to grow by more than 300% in the next three years besides generating wealth for the investors who subscribe to the IPO being launched
we have. These product lines primarily cater to sanitation and water recycling areas; both of which are important from an environment point of view,” states Rajkumar G. Kamat, Founder and Managing Director of the EP Kamat Group. Leading an enterprise that provides solutions to a clean, green and safe planet, Kamat has more than 25 years of experience in the industry.
EP Kamat Group manufactures products “Consistent like fibre-reinforced growth is polymer (FRP) doors, a must. If bio-digester tanks, there is no fire retardant doors growth, the and other allied organisation products. In 2017, will decay” the Group acquired Bio-digester technology from Defence Research Development Organisation (DRDO), which helped them get into a government tenders under the Swachh Bharat Mission. This marked a shift in the growth of the company. Additionally, the company also added new verticals – Sewage Treatment Plants (STP) and Effluent
Growth to make Goa sustainable in waste management solutions
Dr. CAITANNO J FERNAANDES
Founder, CAM Industrial Services
CAM Industrial Services, founded by Dr. Caitanno J Fernaandes, is the first company in Goa to introduce portable sanitation to outdoor events. It was founded with the core value of serving society by meeting its most rudimentary needs – providing essential services to people.
CAM Services began their journey with just 50 portable toilets and now the organisation has grown to working in the fields of housekeeping, bio remediation, e-waste management, zero waste management services, information education communication activities, installation and construction of Indian household latrines. Through their work in portable sanitation and housekeeping, Dr Fernaandes and his team realised that there was an urgent need for more sustainable solutions for sanitation and waste management Goa, which triggered the idea of growth. As a home-grown organisation they felt that they needed to
take steps to provide sustainable solutions to society so that Goa can remain clean, green and healthy. An important milestone for Dr Fernaandes was receiving a state award for contribution towards making Goa open defecation free and promoting sustainable development in the state in the field of waste management and sanitation at the hands of Chief Minister of Goa, Dr Pramod Sawant.
The Group has its corporate offices in Goa, Dubai and France. As for the future, Dr Fernaandes says, “We wish to work towards sustainable development in Goa, India and the world at large. CAM would like to make sustainable sanitation and waste management solutions accessible to all”
GROWTH TO BE A LEADER IN THE IN-VITRO DIAGNOSTICS SPACE
Tulip Diagnostics (P) Ltd., headed by Deepak G. Tripathi, is one of the largest manufacturers of in-vitro diagnostic reagents and kits in India. The company has its footprints globally with exports to about 80 countries. From its humble beginnings in the year 1990, the company has grown to be one of the largest employers in Goa and has its footprints not only pan India but also globally with exports to about 80 countries. In 2017, the company was acquired by Perkinelmer Inc, a large listed global IVD and analytical science company based in USA. Tripathi’s other two partners exited the company; and when he took over the turnover was approximately `249 crores. Last year their turnover touched close to `560 crores. Tripathi and his team wanted to keep on following their development strategy, their sales and marketing strategy, introduce more productivity and added a few more products. The company became more efficient and productive; they could control their costs in a better way and could expand their market by addition and diversification of their sales force. Around 2018, Tulip acquired a company in Mumbai to add to their instrumentation portfolio. They added two new plants in Goa and another two in Mumbai which has helped them improve their capacity. Tripathi considers building four plants in a span of four years a pretty significant milestone in his journey. As far as his growth plans are concerned, Tripathi says, “I want to take the business to a stage where our turnover will be at least `750 crores in the next three years”
DEEPAK TRIPATHI
President, Tulip Diagnostics (P) Ltd.
GROWTH IN THE LUXURY REAL ESTATE SPACE
OSCAR DE LIMA PEREIRA
Founder, Equiknox Group
Oscar de Lima Pereira is an entrepreneur who brings value to the table with high quality luxury real estate projects and the ability to network with the movers and shakers of corporate India. His company, Equiknox Group is a leading real estate developer having various lifestyle home projects at different prime locations in Goa.
Founded in 2004, the company has utilised its land banks to create luxury homes collaborating with the best developers and internationally renowed architects, providing world class architecture. The motto of Equiknox has and will always be ‘Quality and Customer Satisfaction.’
Oscar has built Equiknox from ground up and the first project that he executed was a luxury villa development of 70,000 sq feet in South Goa.
At present, Equiknox is engaged in 3 hospitality projects and two luxury villa addresses with more new launches soon.
Oscar has added value to their land bank by getting
in partners with similar aspirations and ideas who brought with them unique concepts and designs; making each project unique in its own way. All projects are known for their stunning views and stylish architecture. Having mainly engaged in joint developments, an important milestone for Oscar was when Equiknox took a step to start developing on their own. That’s the time they build their own team and brand without any collaborations. As far as the future and growth is concerned, Oscar says, “We want to be known as the real estate company that doesn’t just create homes but addresses to be proud of. We want to create a niche for ourselves in that space for creating addresses”
Growth with a strong focus on sales
An integral part of the largest industrial craft brewery in India, Sarika Varshnei’s journey towards corporate success didn’t quite begin with the beer and beverage industry. Before joining her son at the brewery, Varshnei had successfully opened a bakery called Crispy Cream in 2003, added it to her restaurant named Machu Pichu, running it for almost a decade and then shifting it to her boutique hotel in 2011. In 2016, she installed her very own beach club called Voca Loca in Goa.
Varshnei was one of the founding members of a company that is making a difference in the consumption pattern of alcoholic as well as non-alcoholic beverages in India. Her involvement was crucial in the process of creating Maka di and Borecha. “We started with the sale of sixteen cases a month to now, when we have scaled it up to almost 8,000 cases a month,”
SARIKA VARSHNEI
Chief Growth Officer, Latambarcem Brewers Pvt Ltd
she says about Borecha.
Varshnei states that sales are the most important part of the growth of any company. If there are no sales, there will be no finance. As an entrepreneur, she generally believes that growth should be organic and not spontaneous – the health and stability of the company should be the major priority. “There are many companies which look for a huge revenue growth in the first few years. If you ask me, real revenue growth would only come if your cash outflow is lesser than your inflow. Your earning has to be more than your expenses,” she states. With a vision to see the products available in as many cities and states as possible, Varshnei perceives her enterprise to be half a billion dollar company in the next five years “Sales are the most important part of the growth of any company. No sales, means no finance”
GROWTH TO SYNC TECHNOLOGY AND CRAFTSMANSHIP
Growth to enrich the gourmet dining space
Rajasi Dhavalikar established her brand, Cottons Daily in the year 2016 when she started selling her products among her friends and social media. Her passion for expanding the business led to an entry into the e-commerce space.
Cottons Daily offers an opportunity to all cotton lovers to buy, style their fabrics online and get it delivered at their doorstep thanks to its online platform.
Rajasi’s brand values quality over everything else. Therefore, Cotton Daily sources fabrics and sarees directly from their approved weavers. They have approximately 50 weavers from different regions of India. The ‘Maheswaris’ are sourced from Madhya Pradesh, ‘Paithanis’ from Yeola, Maharashtra, ‘Ikkats’ from Pochampalli, Andhra Pradesh, block prints materials from
“We envision ourselves to promote Indian handlooms especially cotton, at ease with growing digitisation all over world” RAJASI DHAVALIKAR Founder, Cottons Daily Jaipur and other places in India. Rajasi encourages Goan women who are known to create good embroidery, which they take up as a hobby, to make it a source of their livelihood. She has tied up with local artisans for hand embroidery on some of her products. One can always find local products handcrafted by Goan artisans on the Cottons Daily website under the head ‘Cottons Daily Customised’.
Cottons Daily is Rajasi’s baby and she considers it her first business venture, when she decided to enter the e-commerce space.
Tapping the right opportunities is what triggered the idea of growth for her. Promoting Goan handloom Kunbi Sarees worldwide through their online platform is an important milestone that Cottons Daily has achieved and has contributed in re-creating a demand for various kinds of cotton sarees.
Speaking on her growth plans Rajasi says, “We are delivering our products all over India and we have recently started worldwide deliveries to select countries.
We envision ourselves to promote Indian handlooms especially cotton, at ease with growing digitisation all over world”
Vishwanath along with his brother Sachin Pai Bir were associated with Copperleaf since its inception. When Vishwanath was stationed in the US, the brothers would discuss ideas over Skype calls in order to enhance their business. After spending 11 years in the US in the IT field, Vishwanath decided to come down permanently to Goa to hop on the Copperleaf bandwagon to drive the expansion plans. When Vishwanath joined officially in 2019, they were operating at Porvorim with 180 covers and 100 staff. The idea of growth, once he took over the business came to him with his ideology of competing with their own selves. In short, whatever one does, should be done in a better way the next time around. And hence, the idea of Copperleaf Panaji was born. Their focus was on getting the Panaji restaurant up and running and also enhancing the Porvorim restaurant. “The pandemic period slowed down our growth plans, but with God’s grace, the Panaji project was completed. Getting Copperleaf Panaji up and fully operational was an important milestone”, says Vishwanath Pai Bir.
Panaji was a dream restaurant project which started just a few days before the covid lockdown in March 2020. It was executed with great difficulties throughout the pandemic, and was completed in October 2021. Copperleaf Panaji is one of the biggest 300-seater fine-dining restaurant, with spacious seating, spread across 10,000 sq. ft. of ground and first floors. It has three dining sections namely Cilantro, Citrus and Infinity. Panaji also has private dining spaces in the name of Solitaire and 10@ Infinity. The facility includes 5-star amenities, such as splendid international standard washrooms, wheelchair accessible entrance, wheelchair accessible washrooms, grab bars in washrooms as well a baby diaper / nappy changing station. Vishwanath has big plans for the future. “Our current plans are to stabilize both the outlets with optimum levels and ensure that they run and operate efficiently.
In terms of growth, the next Copperleaf is there in the pipeline”
Director & COO, Copperleaf
Growth to make a difference
GROWTH IN ALL VERTICALS TO INCREASE BUSINESS FOOTPRINT
Tanmay Kholkar, a first-generation entrepreneur founded Manas Developers, and grew his company from the ground up. Today it is one of the fastest growing real estate companies in Goa. He has built the business from a scratch and has grown it into what it is today. Tanmay always knew he was destined for something big and although he didn’t have a background in business, with the support of his family, he was able to take a leap of faith and turn his dream into reality. His drive to build his own venture didn’t stem from a pre-set agenda, rather, it catapulted as an organic inkling from his fascination with the stories of entrepreneurs who set off from humble beginnings, scurrying their success to dizzying heights.
Besides behemoths like the
“We want to join hands with the community and together help create an urban Tatas and Birlas who many look up to, Goan entrepreneurs like Dempos, Salgaocars and a first generation landscape in the entrepreneur city of Panjim, like Anil Counto which we are became a source proud of” of inspiration for the thriving entrepreneur in Tanmay. Every completed project by Manas Developers is a milestone in their journey to success. However one recent significant milestone for him is the creation of the KayaM Trust which he established recently. Tanmay considers himself blessed to receive guidance and support from many. Giving back to society is important to him and community outreach initiatives will be executed through the trust in the years ahead. Lastly Tanmay elaborates on the topic of growth and says, “The team at Manas Developers puts its heart and soul into the creation of each project. We are now slated to work on several projects in the near future. We want to join
TANMAY KHOLKAR
Founder, Manas Developers
hands with the community and together help create an urban landscape in the city of Panjim, which we are proud of”
AR-Mine’s Group was started by Arman Bankley and his wife Avani. A techno commercial personality, an experienced chemical engineer, with an experience of 20 years, Arman is a self made man and a founder member of Dimac Organics Pvt Ltd. With his profound knowledge, hard work and sheer dedication he further expanded and boosted trading and manufacturing activities, and has today achieved a prime position of respect and confidence in the industry. His sharp business sense has motivated him to diversify his business venture in the field of manufacturing of machine made concrete blocks and fire prevention and safety. In a short span of time this new business venture has also been a great success catering to the requirements of reputed upcoming real estate projects in Goa. ARMine’s Industries has its own processing plant, adequate
warehousing facilities, modern computerised infrastructure, very sound financial base and a well-established office with experienced and professional
ARMAN BANKLEY
Director, AR-Mine’s Group
executives providing support. The idea of growth was first sparked in Arman when he met Dr Jagat Shah and encouraged him to look for business beyond boundaries and that took him down the path of his business growth which then spread to international shores. Vibrant Goa was a game changer for his business journey and since then, Arman has quadrupled his exports and enhanced his vision. His company is highly concerned with the utmost satisfaction of their esteemed clients. At present they have the privilege of being named as the most affluent manufacturer, along with being the most sought after suppliers among all the manganese ore suppliers of India. Arman’s ultimate ambition is to continue with their reputation in fulfilling the requirements of their valuable customers in a highly economical way. Currently his organisation has 132 employees. “I want to double my team in the next one year. We export products to 11 countries; and we plan on targeting 25 countries by the end of the next financial year”
COVER STORY GROWTH FUELLED BY STEELY RESOLVE
Jai Ganesh Ispat is a privately held company founded in 2003 by Siddharth Goyal. The company operates a service centre based in Corlim, Goa where hot rolled coils, cold rolled coils and TMT coils are decoiled and customised to the requirements of buyers. Jai Ganesh Ispat also produces profiled sheets from colour coated coils used in roofing and cladding of structures. The company has authorised dealerships of the major producers of steel in India like JSW Steel, TATA Tiscon, SAIL and Essar Steel. The company handled over 40,000 metric tonnes of finished steel products in FY 2011-2012 and the turnover stands at `1.2 billion. The stockyard and service centre premises are located on a plot of land measuring 10,000 sq. mts. area. The facilities include a 40 metric tonne overhead crane,
Jai Ganesh Ispat envisions to become an end-toend solution and service provider of finished steel products mobile cranes, fleet of trucks, de-coiling machines, covered stocking area. Siddharth came to Goa in 1997 from Chennai and
SIDDHARTH GOYAL
Founder, Jai Ganesh Ispat & Ferro Alloys Pvt Ltd.
at that time there were a number of steel industries coming up in Goa. There was no direct trading house in the state which prompted him to start up his company to act as an intermediary between industries and suppliers.
There are many milestones completed by Siddharth’s company but the most important one for him was getting associated with JSW Steel Ltd in the year 2009.
Currently, Jai Ganesh Ispat is focusing on value added products, investing a large amount of capital on value added machinery and infrastructure.
“We are targeting various segments in the appliance industry, the auto industry, and real estate segment; wherever we can add value to the existing products is where we plan to focus on. Currently, the way steel is being sold in the contemporary style, we want to redesign that process and take it to the next level.” The company envisions becoming an end-to-end solution and service provider of finished steel products
Growth undeterred by first-generation business challenges
Lack of finance was the only hurdle that stopped me from starting my own venture earlier. As I am a first generation entrepreneur, and grew up in a license regulated era, entrepreneurship was not as fashionable as it is today,” states Pramod Rane, Founder of La Cabana Beach and Spa Resort.
Nevertheless, he eventually created a business empire with next to nothing in his pockets. Beginning his career as a manager in Suvina Travels, Rane’s talent for generating sales was noticed by the management of British Airways.
He was given a role in the British Airways general sales agency (GSA) office in Goa and subsequently promoted to their office in Bombay. Airsonic Travels, a travel agency specialising in leisure and MICE business, was launched by Rane in 1988.
Under his leadership, the business has earned a name for itself as a provider of a unique, high-quality service, thus gratifying clients across the country and abroad. The agency’s office in Sydney, Australia, has played a key role in the development and promotion of commercial links between Australia and India. Enamoured with the hospitality industry, Rane launched La Cabana Beach and Spa Resort in 2012.
The biggest wedding destination in the state, La Cabana is renowned for its modern facilities synthesised with relaxation and comfort, a combination often sought but rarely achieved. Add to that a breathtaking seaside ambience.
Over the years, Rane has perfected the art of developing business ideas by looking for innovative concepts that
PRAMOD RANE
Chairman and Managing Director, La Cabana Beach & Spa Resort
customers would love. His career has been marked by his ability to recognise a commercial opportunity and devote all of his attention to it. With courtesy, honesty, and diligence, he has managed to create a special space for himself in the travel and tourism industry
COVER STORY GROWTH FOR GEN-NEXT BUSINESS FUNDING
Growth to do more
Gautam Verlekar, a Chartered Accountant by profession, founded Saltwater Sutra, a strategy consulting firm that has opted to operate with a regional focus. It is a new kind of boutique firm that works at a deeper level of strategic engagement to curate new generation businesses and push mid-sized organisations towards global expansion. Saltwater has slowly built an integrated strategy-based investment banking practice right here in Goa over the last two years, enabling firms across India to raise strategic growth capital.
As the leader in SME Investment Banking, Saltwater builds both public market investment opportunities as well as private equity deals. Gautam built the business from scratch with the help of key shareholders, investors and mentors. His business lies in being a catalyst to the growth of other businesses.
GAUTAM VERLEKAR
Founder, Saltwater Sutra
His philosophy is based on the idea of growth which is fundamental to the success of the country and he feels that only an entrepreneurial spirit “We are aiming to build our own Investment Fund over the next few years and enable multiple growth shoots from Goa”
can enable India to become a developed nation. Saltwater services are expansive and brimming with potential and are reflective of their identity. Trust, exclusivity and delivery are what set Gautam’s company apart from the rest. Investment banking as a core area of operation, growth is the basis of his company’s existence.
As a proudly Indian company, they have a wealth of experience in the sub-continent and its diverse values, cultures, languages, geographies and policies.
An important milestone that Gautam would associate with their company’s growth took place in 2017, where they established their global development centre here in Goa, which enabled them to optimise their delivery efficiency and create value to all global clients. As a leading Investment Advisory Group in Goa, Gautam has big plans as far as Saltwater’s next growth stage is concerned. “We are aiming to build our own Investment Fund over the next few years and enable multiple growth shoots from Goa”
Pravin Kakode is the Managing Director of of these are housed in their 12,000 square-foot store at the Upgrade Enterprises Pvt Ltd, which was Kakode Trading LLP, a traditional hardware store, which is one of the largest wholesalers and retailers of building materials. Pravin’s role is more inclined towards strategy as well as ideating and Upgrade, to innovating on their Pravin, is an future goals. Over ideology where time, he has built they take the a reputation of business, the being competent to products, the effectively manage processes and distribution of the people high-end brands in a positive throughout Goa. direction When Pravin took over the business he began working with four employees and today they stand at a 100+ employees and work with close to 30 companies. Upgrade now represents brands like Tata Durashine, Fischer, Hettich and Godrej – among 30 other brands in their portfolio. All Sonsoddo-Raia junction in Margao as well as Khareband and Curchorem. At Upgrade, Pravin says growth is a way of life which comes naturally to an organisation. He firmly believes that if one does not grow, they end up stagnating and eventually perishing. Pravin’s business started out like a typical trade where they had one shop and they would sit at the cashbox. The tipping point came when he took a decision that none of them would sit at the cashbox which gave them a lot of time to utilise their thought process in the growing of the business. Upgrade, Pravin feels, is an ideology where they take the business, the products, the processes and the people in a positive direction.
Regarding growth, Pravin says, “Our trading company has a good 5 year growth plan in place. We are looking towards more solution based approvals.
PRAVIN KAKODE
Managing Director, Upgrade Enterprises Pvt Ltd
As human beings, we need to have a purpose in life. We need to create or build something which people look up to and get inspired by. I have a vision for the future and the possibilities for expansion is endless”
Mining closure witnesses a spate of layoffs
In the midst of the mining ban and the legal imbroglio that followed, mining companies seek to lay off workmen over the failure of the government to resume mining activities in the state
By SWETA SHARMA
Countless events and protests have taken place in the wake of the Supreme Court’s (SC) order in 2018 that directed mining companies to stop all mining operations in the state of Goa until they gained new leases. Eighty-eight mining lease holders’ second renewals were invalidated by the SC in a verdict in the same year.
By an order dated May 4, 2022, the Directorate of Mines and Geology (DMG) ordered mining leaseholders to quit their respective leases by June 6 at the latest. However, a majority of the leaseholders eventually filed writ petitions before the High Court contesting the Directorate of Mines and Geology’s decision. The government had contested the petitions submitted by the mining corporations because they contrasted with the SC’s decisions. Subsequently, private leaseholders have presented a case with the High Court of Bombay in Goa, challenging the State government’s decree ordering them to vacate their leases by June 6 this year.
Goa’s economy heavily relies on four sectors, namely, agriculture, tourism, manufacturing, and mining. Incidentally, the mining industry is one of the most important pillars of Goan economy, besides tourism. With a complete ban over mining activities, the financial situation of Goa has significantly worsened over the past few years. It has not only affected large conglomerates but also the workers who were employed by them.
Fear grips nearly 1,500 mining-dependent workers as mining companies have approached the Centre to retrench them following the stoppage of mining operations in the state. According to Vedanta Limited, mining operations have been suspended in Goa for more than four years as a result of the Supreme Court’s ruling which was followed by numerous rulings at judicial forums shortening their lease tenure.
In accordance with Section 5B of the Industrial Disputes Act, Sesa Sterlite issued layoff letters to 1,017 employees in its mining division units in Goa in January 2014.
Similarly, around 870 employees of Vedanta Sesa Goa, Sesa Resources Ltd, and Sesa Mining Corporation Ltd received retrenchment notices from Vedanta Limited due to the uncertainty surrounding the restart of mining operations in the state.
The notice of retrenchment states, “The company by its application to the Labour Secretary, Ministry of Labour and Employment, Government of India, under section 25-N of the Industrial Dispute Act, 1947, proposed to retrench all workmen of the said mining divisions from October 5, 2022.”
In a statement issued by Vedanta Limited, the organisation acknowledged that Vedanta Sesa Goa, Sesa Resources Ltd., and Sesa Mining Corporation Ltd. had deliberately kept all of its employees on board and have been supporting them and their families since 2018 notwithstanding the cessation of mining operations. Vedanta had investigated a number of legal and other possibilities over the previous years to resume iron ore mining in Goa, but its efforts had not been successful.
Furthermore, the Directorate of Mines and Geology also sent a notice on May 4 to terminate all mining leases within 30 days, leaving them with no choice but to abandon any plans that they had in order to resume mining operations in the state. As a result, Vedanta Sesa Goa, Sesa Resources Ltd, and Sesa Mining Corporation Ltd are required to cease all miningrelated operations and submit layoff requests for 870 of their employees who are employed at various mining units around Goa.
Puti Gaonkar, President of the United Mines Workers Association, claimed that the company gave justifications for the layoffs. Since the state government took over their mining leases, they no longer owned any mines and are no longer mining lease holders. Thus, the companies are unable to hire workers in the present. He claims that the corporation has also made it clear that the central government’s decision to raise the export duty on iron ore from 30% to 50% made it impractical to export the ore located within the state.
Gaonkar said that the government had failed to restart mining activities and requested that it take an action to do so within a month, either through auctions or by turning
Dr Pramod Sawant
Chief Minister, Goa
over mining leases to the current leaseholders in an effort to protect the workers.
The employees of Vedanta Ltd have met Chief Minister Dr Pramod Sawant, in a bid to seek assistance for the same. Nilesh Karbotkar, Head of the Sesa Vedanta Workers Union, has asked the Chief Minister to step in to defend the rights of the workers. He demanded that the government should guarantee protection to the workers when the mining corporation is established and their interests be served.
Moreover, their pleas insisted that the government should impose requirements on bidders to hire these personnel in mining enterprises in the event of an auction.
At the start of monsoon session of the legislative assembly, the government was urged by the legislators to take an action in order to provide job security for those workers MLA Sankalp Amonkar said, “The government has to take a firm decision to restart mining, which has been stopped for the past ten years and was once a backbone of the state’s economy.”
Legislators also urged that the government set a requirement that 100% of the current employees be absorbed at the time of the auction. Independent MLA of Bicholim, Dr Chandrakant Shetye and Congress MLA Michael Lobo introduced a motion to draw notice to Vedanta’s layoffs. Nearly 1,200 employees, they claimed, have received the warning with only 14 days’ pay. They claimed that nearly 4,000-5,000 workers would be retrenched in the upcoming days.
The Directorate of Mines and Geology has established a special auction unit to speed the process of auctioning off iron ore mining leases in the state. According to the Chief Minister, the government plans to complete the first round of auctions within the next three to four months and see that preference is given to Goa’s mining workforce when new leaseholders start operations.
Additionally, Dr Sawant has promised that the government will look into all the options available for providing the current staff preference in employment on the leases that are auctioned.
When mining in the state resumes, the Chief Minister has promised to negotiate a relief package for the laid-off workers and secure their employment.
Since the orders of the government are not set in stone yet, it remains to be seen whether the government manages to effectively implement its plans and come to the aid of the mining corporations as well as the workers
The government has failed to restart mining activities and they should do so within a month, either through auctions or by turning over mining leases to the current leaseholders in an effort to protect the workers”
Puti Gaonkar
President, United Mines Workers Association
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Industrial plots in Goa: Available or not?
While the Goa Government maintains that there are no industrial plots at hand in Goa, data shows otherwise
By SYBIL RODRIGUES
While the government claims that Goa has a shortage of industrial land and is considering the option of private industrial estates, the data released paints a different picture. It shows that 21.2 lakh sqm of industrial area remains unutilised and vacant. More importantly, the data which was provided to the former Leader of Opposition, Michael Lobo reveals that entire industrial estates are empty in the hinterlands with zero activity taking place, often due to the lack of basic infrastructure such as roads, water supply and power connections.
The Latambarcem industrial estate, Panchawadi industrial estate and Quitol industrial estate are completely empty, thus raising questions about the government’s intent in promoting industrial activity in the hinterland areas.
Data provided by Goa Industrial Development Corporation (GIDC) shows that in 19 industrial estates, huge tracts of land remain barren. More than seven lakh sqm of land at the Verna Industrial Estate remains vacant. This includes the five lakh sqm of industrial land that was recovered from the SEZ promoters and recently auctioned.
Meanwhile, Damodar Kochkar, President of the Goa State Industries Association says there is no barren land lying unused in the State. “First of all, except for SEZ land which was taken back I don’t think any barren land is lying vacant in Goa. If any plots are vacant then the Government can follow the procedure mentioned in allotment regulations to advertise and make plots available for industries.”
Industries minister Mauvin Godinho provided the information to Lobo in a written reply to a question about the state government’s effort to attract investment and “If any plots are vacant, then the Government can follow the procedure mentioned in allotment regulations to advertise and make plots available for industries”
Damodar Kochkar
President, Goa State Industries Association
create employment. Godinho also informed Lobo that GIDC has begun the process to recover allotted but unutilised land from 27 entrepreneurs as they have failed to use the land within the stipulated period.
Plots allotted to units that lie vacant for more than three years are considered to be unutilised, GIDC stated.
Opposition MLAs question the Government over ZACL’s alleged
`50,000-crore land scam The Opposition created a ruckus over the alleged illegal ‘systematic’ sell-off of nearly 50 lakh sqm of land by the Zuari Agro Chemicals Limited (ZACL) that had acquired property back in 1971 from the Sancoale comunidade , for industrial purpose.
Congress MLA Michael Lobo and GFP MLA Vijai Sardesai harshly questioned the government over their failure to act in the alleged illegal sale of land by ZACL to Paradeep Phosphates Pvt Ltd. They pointed out that ZACL had broken up the entire parcel of land into small plots, which are being sold individually. They also said that a mega residential project with 1,800 flats is also proposed on the said property. Lobo maintained that since the land belonged to the comunidade it belonged to the people of Goa and the government also has control over it. “Such a big parcel of land cannot be given just like that. If it was given for industry to one company then let them set it up, but they cannot sell it to a third party. There is no provision in the comunidade code where land given on lease can be sold out,” he said.
Raising the issue over sale of 500 acres of land given on lease to Paradeep Phosphates Pvt Ltd for setting up the fertiliser factory, Lobo further asked whether the land can be transferred to a third party and of what action the government has taken in this regard. He also demanded to write to the subregistrar’s office asking not to register the said sale deeds.
Lobo brought to notice of the House that following a complaint by one Narayan Naik from Sancoale, the Prime Minister’s office had sought a report from the Goa government in October 2020.
“It has been two years now and the government is dragging its feet over submission of reply to the PMO. This itself shows that there is something wrong,” Lobo said. He was supported by Sardesai who pointed out that since the Assembly elections in March till date, a total 35 sale deeds have been executed.
In response, Revenue Minister Atanasio Monserrate
said that under Article 30 of the Comunidade Code, such land can be transferred, adding that the revenue department has sought the legal opinion from the law department and the Advocate General. He also informed the House that instructions have been issued through the Secretary (Revenue) to the district collector not to issue any sanad to the sale of plots in that particular land. “Once the legal opinion is received, the government will take necessary action in this matter,” he assured.
A month back, Goa Forward Party MLA Vijai Sardesai had promised to bring up this issue at the Assembly stating that the land was being sold at a premium by the fertilizer company. “What is more important to this government, profits of a private company or nationalism? The government has to ban all conversions given for the purpose of setting up the fertiliser factory and recover all the land that has been fraudulently transferred and diverted for real estate development,” he added. Sardesai termed it as a `50,000 crore scam, stating that the particular land was given to Zuari Agro Chemical Pvt Ltd by the first Chief Minister of Goa Dayanand Bandodkar for setting up of industry and creating employment for Goans. The Fatorda MLA also demanded that either the land be auctioned or reverted to the Sancoale comunidade .
Revolutionary Goans Party MLA Viresh Borkar said that illegal slums and other structures have come up on that land and some people are trying to regularise them, while Mormugao MLA Sankalp Amonkar demanded to immediately stop turning the land into plots.
Curtorim MLA Aleixo Reginaldo Lourenco said that “Such a big parcel of land cannot be given just like that. If it was given for industry to one company then let them set it up, but they cannot sell it to a third party. There is no provision in the comunidade code where land given on lease can be sold”
Michael Lobo
Congress MLA
the new company which has bought the factory does not supply fertilisers to farmers.
Due to strong pressure from the opposition, Chief Minister Dr Pramod Sawant declared that he would keep the sale deeds and sanads pertaining to the said land on hold until a legal opinion is received. As the opposition termed it a major land scam pegged at `50,000 crore, the Chief Minister also said that if required, the matter would be handed over to the Special Investigating Team (SIT) dealing with illegal land grab cases. Dr Sawant said that the legal opinion on the sale deed between the Sancoale Comunidade and ZACL is under the scrutiny of the Law department as well as the Advocate General, whose detailed opinions are expected within a month's time. Lastly, the CM added that as per the Comunidade Code, the land is transferable and in 1989, ZACL had sold part of its land to the Goa Housing Board
ASSESS BUILD CHEM PRIVATE LIMITED Waterproofing solutions under one roof
Assess Build Chem Private Limited is a one stop destination for all your waterproofing needs
Podium WP
Building Protectocon
Assess Build Chem Private Limited provides construction chemical solutions in the fields of admixtures, concreting and finishing aids, dry-mix mortars, waterproofing, repairs, protection, flooring and specialty materials for application in the field of building construction, infrastructure (roads, airports, ports, and railways), water and wastewater treatment, energy sector and power plants, industrial and heritage structures.
Samir Surlaker is the Founder and Director of Assess Build Chem Private Limited and his company offers the latest technologies in the waterproofing industry. Assess Build Chem Private Limited prides itself on being a solution driven company and believes in addressing waterproofing concerns by addressing the key areas of water ingress, namely, capillaries and voids in the concrete body itself, joints [construction and expansion] and cracks and surface defects. Their waterproofing solutions range right from:
1. Concrete and mortar improvement: Integral waterproofing additives and admixtures, plastering additives, and other specialties.
Samir Surlaker
2. Joint treatment: Expansion joint tapes, high performance flashing tapes, special mortars, coatings and reinforcement meshes and high-performance injection grouting systems
3. High performance barrier
coatings: Acrylic and polyurethane coatings to crystalline systems, to cater to every kind of situation.
Assess Build Chem works a lot in substrate improvement in terms of providing solutions for repair and rehabilitation, such as structural repair mortars, microconcretes and concrete cosmetic mortars. They also provide specialist solutions for heritage structures, whereby they can clean, maintain, repair, waterproof and protect them for the future. All in all, Assess Build Chem has a full range of solutions for the construction industry. They manufacture concrete and mortar additives, concreting and finishing aids, waterproofing systems, tile and stone fixing solutions, sealers and cleaners, industrial products like grouts, floor hardeners and polishing aids, anti-carbonation coatings and soil stabilisation systems.
Assess Build Chem also provides injection grouting solutions for Sealing, Ground Consolidation and Soil Stabilisation. These products are used in tunneling, Metro projects, building and industrial projects worldwide to solve challenging problems in water ingress or soil stabilisation. Their products are manufactured in a controlled environment, with the highest quality raw materials available. The product range is designed and enhanced for easier application and based on the knowledge of waterproofing materials and the application expertise of their applicators, Assess Build Chem can help design and recommend waterproofing solutions for any type of construction. They tailor-make solutions for unique projects and their motto is “Let us be your knowledge partners for the correct usage of construction chemicals”.
The company believes and focusses on sustainability, environment, and innovation. Most of their product systems are developed, to minimise the use of high VOC ingredients in their formulations. Most of the bulk raw materials are sourced locally to minimise the impact of transportation on its carbon footprint. The materials are designed to have a long performance life and help the structure to be maintained with lowest resource requirements, making
Assess Build Chem works a lot in substrate improvement in terms of providing solutions for repair and rehabilitation, such as structural repair mortars, microconcretes and concrete cosmetic mortars. They also provide specialist solutions for heritage structures, whereby they can clean, maintain, repair, waterproof and protect them for the future
Preserving heritage structures by cleaning, maintaining, waterproofing and protecting them for the future the structure sustainable. The products being environmentally friendly have the same impact as concrete, even when the structure is demolished, leading the structure to remain green through its service life. In addition, their innovations such as green concrete technology (concrete with low cement contents and ingredients from local sources (local crushed sand), temperature reducing coatings, additives to use crushed sand / industrial waste for plastering and concrete products, mineral systems to resist acid attacks, curing compounds that save water and other similar systems do make an impact on structures to render them green, sustainable, and durable.Assess Build Chem products are manufactured in a well-equipped plant in Goa under strict quality control using state-of-theart technology and quality assurance systems. They are also an accredited ISO 9001:2015 company, which helps maintain quality across the products and services. The company is comfortable in terms of capacity to meet the demand for materials in the coming years. They are expanding their Goa plant to a big and modern facility, which will be supported by a state-of-the-art-training centre and laboratory for better interaction with customers. With their two facilities in Goa and one in Gujarat, Assess Build Chem is confident of providing customers for their needs in terms of both quality and quantity. As far as the product lines go, Assess Build Chem is continuously improving their product lines to meet the stringent market demands
