Business Goa September 2022

DR. CAITANNO J FERNAANDES

Dr. Caitanno J Fernaandes highlights his journey from starting out as an ambitious young man to setting up Goa’s first portable sanitation company in order to keep his State clean and green, while making a difference to the environment

PRESIDENT

Money Matters

VB Prabhu Verlekar through this article spells out a complete guide in respect of tax implications on sale of immovable property

Beyond Classroom

Dr Pradeep Salgaonkar elaborates on key points that a retail business should follow in order to be successful

Cabbages And Queen

Nandini Vaidyanathan explains how LinkedIn has digressed from a professional networking site to people posting about their personal lives on the platform

Dr. Caitanno J Fernaandes highlights his journey from starting out as an ambitious young man to setting up Goa’s first portable sanitation company, in order to keep his state clean and green, while making a difference to the environment

Cover Story Focus Goa: Logistics

CII deliberates on creating synergies to develop multi-modal and air cargo logistics for Goa

Integral Coach Factory, Chennai places order with Goa based Kineco for supply and installation of modular interiors for Vande Bharat trains

Rajkumar Kamat, Founding and Managing Director, EP Biocomposites, speaks on getting his company listed on the BSE

Interview Lady Power

26 28

Amin Ladak, Chairman of Goa Management Association, speaks on his term his leadership tenure and outlines the work that has gone into making GMA a vibrant organisation that it is

Rina Barreto Shankar speaks on her journey from working as an advertising executive to setting up her own brand building agency

Organisation

Saraswat entrepreneurs from across India and the globe converged in Goa for their annual conclave to create business networking opportunities

Industry Stock Market Technology

As Goa celebrates World Tourism Day, Forum for Innovation, Incubation, Research and Entrepreneurship (FiiRE) announces different programs to create a vibrant platform to help build a TourismTech ecosystem in Goa

Invest Goa

Bon Appétit

Antonio@31, situated in Goa’s colourful lanes boasts of memorable cocktails, vibrant music and a menu with a refreshing spin on the recipes of yore

50

Invest Right

Mahesh Pai elaborates on the importance of financial literacy

52

Women And Health

Dr Emanuel Gracias writes about Polycystic Ovary Syndrome (PCOS) and suggests remedies to reverse the same

CONTENTS COLUMNS 04 | BUSINESS GOA INDUSTRY DOSSIER | SEPTEMBER 2022 06 Editorial 08 Corpo Scan 25 Accolades 34 Campus 35 BookShelf 36 New Avenues 38 Event 40 Biz Bytes 56 Goa Buzz 58 Newsmakers 58 BG Quiz As Goa gears up for the Invest Goa Summit 2022, road shows are being held across different states with a delegation from GCCI and Government representatives to woo investors to the sunshine state

Publisher & Editor

Harshvardhan Bhatkuly

Group Director

Urvija Bhatkuly

Business Head

Annalise Gouveia

Chief Reporter

Sybil Rodrigues

Graphic Designer

Rakshama Naik

Circulation

Mayur Santineskar

Contributors in this Issue

Dr Emanuel Gracias Mahesh Pai

Nandini Vaidyanathan

Dr. Pradeep Salgaonkar

V B Prabhu Verlekar

EDITORIAL

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Industry Should Harness Demographic Dividend

These days, travelling to the nooks and corners of Goa, that Business Goa’s India at 75 School Quiz takes me to, has helped me rediscover the beautiful state that is my home. While the tranquil and breathtaking countryside mesmerises me, the economic condition leaves me a tad bit concerned, and one does not need deep penetrating X-ray vision to see the conditions.

On one hand, the state is gearing up to attract investments and quality tourism, celebrating infrastructure milestones like the new airport, and promising to make the state a startup hub –all good initiatives that need everyone’s support.

On the other, a significant section of Goa – its youth, in the hinterland in particular – needs to be groomed for the challenges that lie ahead of them.

The youth are in a precarious condition. They are subject to information overload, thanks to the penetration of mobile phones and the internet. However, they lack quality education, training and mentorship. They are at crossroads, without direction or the skills needed to take their dreams ahead.

Let us pause for a moment and consider that the government need not be expected to lead this initiative. The industry can step in. Taking the state authorities in stride, the industry can make a difference in an area that needs urgent and critical attention.

The industry, which can avoid the trappings of red-tapism, has to step in and take charge. It can add value beyond the token CSR effort, and a cohesive exercise of all industry bodies can evolve a formidable plan of sustainable skill development for youth that will, in return, benefit the industry.

Empowering youth, with skills across social strata, can catapult Goa into a higher orbit. It will provide the much-required fillip to the other state initiatives of inviting industry and investment and encouraging startups. Well-trained, tech-enabled and industry-

ready youngsters will be available to meet the industry’s emerging manpower requirements, and fill the promised jobs, that these investments are anyway supposed to create.

Our state is also a strong academic hub with a University, premier professional institutes, and other higher education avenues. Industry can partner with academia to identify critical areas and create training platforms. While the industry can provide information on requirements, academia can create the learning tools. Using its research strength, the academia can survey the length and breadth of the state, identify pockets for development and help in creating a talent pool to fill those blanks.

Goa is nothing but a sum of its villages and wards. Industry stalwarts need to promote this initiative by becoming brand ambassadors of this idea and reaching out to all young minds, who will prove to be nothing but assets for the state and their future employers.

The Chief Minister’s Swayampurna Goa 2.0, taking a leaf out of ‘Atmanirbhar Bharat,’ has all the right intent. The idea, however, has to go beyond being self-employed. The initiative of empowering youth is to add value to their skill sets, whatever they are. In essence, we have to create entrepreneurs, managers, workers, artists, professionals, ideators, influencers and analysts – all within their unique and chosen space –working together in orchestrated format to make this happen.

This requires serious assessment, mentoring, counselling, training and instilling in them the confidence which will uplift their lives through education, training and a career.

This vision seems utopian. Perhaps it is. But even as a pilot exercise, it is worth a shot. The industry, due to various legal and policy impasses, is in a state of lull and cynicism. We have a demographic dividend lying unused at the moment. The industry has a chance to make a difference

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

Harshvardhan Bhatkuly

PRESENTED BY

GOA’S FIRST SEED BANK TO BOOST CONSERVATION

Community seed banks are an important agro biodiversity conservation initiative to preserve local as well as rare seed varieties before this genetic diversity is lost. The first such seed has been set up in Goa by the State Biodiversity Board.

It was inaugurated at the hands of Dr Vandana Shiva, author and sovereignty advocate at Curtorim, with the environmentalist giving a call for the creation of a new economy for seed food agriculture in the country.

The community seed bank of Goa was launched by Dr. Vandana in the presence of Environment Minister Nilesh Cabral; Curtorim MLA Alex Reginaldo Lourenco; Goa State Biodiversity Member Secretary Pradip Sarmokadam; Curtorim Bio-diversity Management Chairman J Santan Rodrigues; Zilla member Michele Rebello; and Sarpanch Caetano Hilario at the Curtorim panchayat hall.

In her address, Dr. Vandana said the initiative to create banks has now resulted in the creation of around 150 community seed

banks across the country. She has called for efforts to make sure that to preserve heritage of biodiversity in agriculture, heritage of cultural diversity and heritage of eating continues forever in the future.

Environment Minister Nilesh Cabral said a seed bank will be created in the office of the state Bio-diversity committee. He also lauded the efforts of the Curtorim Biodiversity committee for

its efforts to preserve the natural lakes, bio-diversity and heritage of the village. Pradip Sarmokadam said that it is the first of its kind seed bank in Goa wherein various local seeds will be deposited with the help of communities and availed of by communities. “The effort is to promote seed sharing practices which traditionally existed in Goa so that we do not have to depend on packaged or hybrid seeds,” he said

Goa Police organises hackathon to help with crimes

Goa Police, in order to rope in the technical skills of engineering and IIT students for better policing, organised ‘Goa Police Hackathon 2022’, a 48-hour programme for all engineering and IIT students.

As many as 53 students from 10 colleges across the State have coded to find technological solutions to help Goa Police serve citizens efficiently. Director General

of Police (DGP) Jaspal Singh said, “In today’s world, cyber crime has no limit as well as no geography. There are so many kinds of cyber crimes for which the police lack the technical expertise; hence the we have launched the initiative to seek assistance of IIT and engineering graduates having skills to detect and control growing cyber crimes by using and sharing their knowledge.”

NDR Warehousing invests in Goa

NDR Warehousing, which was started in 1986 to cater to the storage needs of individual farmers, has invested in Goa, building a warehouse facility in the state's largest industrial estate. NDR Warehousing has handed over the facility to CommScope, an American telecommunications infrastructure company. NDR Warehousing currently owns

and operates over 12 million sq. ft of warehousing space, with an additional 4 million sq. ft under construction. While most of their supply chain facilities are based in metros, this is the company’s first investment in Goa. “We aim at not only being the first-choice logistics partner to corporates but also play a key role in making India a manufacturing destination”,

The hackathon held in seven fields, asked technical students to find solutions and encouraged them to use coding and logical skills to solve core policing problems, design scalable solutions to boost police efficiency. According to Singh, the Goa Police has signed a MoU with IIT and BITSPilani K K Birla Goa Campus for contribution towards crime detection

Charter operators apply for landing slots at Dabolim Int’l Airport

said Managing Director of NDR Warehousing Amrutesh Reddy. Called the NDR Goa Space, the warehouse has been built using modem construction techniques, energy saving materials, and was completed in record time. NDR Warehousing is part of the NDR Group and its clientele includes Fortune 300 companies’ e-commerce firms and other large companies

The Dabolim International Airport has received requests for charter flight slots from eight destinations, Airport Director S V T Dhanamjaya Rao said. He stated that the Dabolim Airport will continue to operate even after the commissioning of the Mopa International Airport. Rao said that there will be no segregation of domestic flights landing at Dabolim and international flights at Mopa. “It will depend on the choices of the passengers and flight operators,” he reiterated. The requests for charter flight slots have been received from Tel Aviv, Kuala Lumpur, Bahrain, Russia, Almati, Gatwick, Manchester and Muscat and the process of approving them is in the pipeline.

The slots have been applied for by airline operators like Scat Air, Rosiya, Aeroflot, Gulf Air and Arkia airlines. Besides the charter flights, there have also been requests to operate regular international flights from Dabolim Airport to London, Dubai, Muscat and Sharjah, he added.

Tourism which is an important economic activity in Goa had taken a hit due to covid and although flights did land in 2021, the RussiaUkraine war put a dampener on arrivals from Russia. On an average, Goa receives about nine lakh international tourists, including 2-2.25 lakh tourists on charter flights. More than half the charter tourists in Goa come from Commonwealth of Independent States (CIS) countries, and the rest from UK and a few European nations

CORPO SCAN @businessgoa Alex Reginaldo Lourenco, Nilesh Cabral and others with Dr Vandana Shiva at the inauguration function

GOAN STUDENTS TO LEARN ADVANCED ROBOTICS CODING

In Goa, robotics and coding has already been made a part of the Class VI to VII curriculum for 65,000 students studying in 435 government and aided schools. From 2022-23, the state plans to take the scheme a step further and offer an advanced curriculum to be taught after school hours to students with further interest and talent in robotics and coding.

This was revealed by Vijay Borges, project director of the special cell created at

Government to set up `200 crore training centre in Goa for new MSMEs

the directorate of technical education (DTE) for implementation of CM-CARES (Chief Minister’s Coding and Robotics Education in Schools scheme).

“Other than the regular curriculum being taught in all government and aided middle and high schools, we are now implementing the second part of the scheme from the year 2022-23, where an advanced curriculum will be taught as an elective to students who

are self-motivated to train further on topics like artificial intelligence, machine learning, etc”, Borges said.

The scheme is being implemented by the Directorate of Education and the curriculum has been designed based on broad guidelines provided by a panel of the State Council for Educational Research and Training (ISCERT).

Goa is already in the process of acquiring equipment to upgrade school computer labs

Goa urges Centre to restore nil export duty on low grade iron ore

Social Welfare Minister Subhash Phal Desai has urged the Centre to restore export duty to zero per cent for low grade iron ore and to exempt Goa from compulsion of beneficiation of low grade iron ore so that the State can further strengthen its export network across the globe after resumption of mining activity.

Union MSME Minister Narayan Rane said that the Centre will establish a training centre at a cost of `200 crore in Goa for setting up new enterprises and MSMEs in the state. The minister said that he has discussed establishing new businesses in the state with Goa Chief Minister Pramod Sawant and BJP state President Sadanand Tanavade.

“I am sure the work done by the state government is good to make Goa financially strong, to create employment, develop industries, boost GDP of the country and contribute towards Atmanirbhar Bharat,” Rane said. To promote local MSMEs, the state government this year notified a preferential purchase scheme for five years. Eligible MSMEs under the scheme will be given “special treatment in any tender floated by government department/autonomous bodies/corporations/semigovernment departments or any purchases made by them,” said a notification by the state government

Phal Desai said that the Goa government is ready with tender notices for issue of first notice for auctioning of iron ore mining leases shortly.

“We have onboard SVI Caps

The state government has succeeded in receiving final approval from the National Coastal Zone Management Authority (NCZMA) to its draft coastal zone management plan (CZMP), which is based on CRZ Notification 2011.

The CZMP has now been forwarded to the Union environment ministry for formal notification. The draft CZMP, which was prepared after consulting numerous stakeholders, will outline the potential development projects for the coastal belt. In accordance with the CRZ Notification 2019, the state government is required to submit to the MoEF & CC the draft CZMP that has been finalised at the state level, along with a request for

MECL and MSDC to assist the government in the process of auctioning iron ore”. In order to resume mining activity and to ensure robust response to auctioning, he urged the Union government to restore zero per cent export duty for low grade iron ore

State sets timeline for vibrant IT sector

final approval. The ministry shall recommend the same to the committee set up by the National Centre for Sustainable Coastal Management, Chennai for the purpose of conducting a technical examination. After receiving the technical review’s recommendation, the NCZMA will be asked to consider and make a decision. The state will have to repeat the process of holding a public hearing and inviting feedback from all interested parties regarding the changes it wants to make to the draft CZMP.The approved CZMP shall be thereafter placed up on the website of the applicable state or UT coastal zone management authority and a printed copy shall be made available in the offices of the panchayat and collector

The first meeting of Goa state IT Advisory Council held recently deliberated on developing Goa as a ‘Creative Capital’ of the country, while bringing vibrancy in the information technology sector in the state in the next three months. Chief Minister Dr Pramod Sawant chaired the meeting which was co-chaired by the IT Minister Rohan Khaunte.

Khaunte said that the state government intends to bring in vibrancy in the IT sector in the next three months.

“The IT Advisory Council has decided to form a subcommittee of industry and academicians which will work towards modifying the existing syllabus to make the college graduates employable in the IT sector,” Khaunte said. “The students who have even done graduation in B.A and B.Com should find placement in the IT sector,” he added. The Minister said that the Goa government will emulate the concepts like T-Hub and V-Hub that prevail in Telangana to have vibrancy in the information technology segment in Goa. “The council discussed the issues of connectivity, infrastructure and talent for IT in Goa. We have signed a memorandum of understanding with states like Telangana wherein we can implement their concept like T-Hub, V-Hub for women empowerment and TASK (Telangana Academy for Skill and Knowledge),” Khaunteadded.

The Minister said that the state government has set up a timeline from October till December to bring in vibrancy in the IT sector

Goa’s draft plan gets nod of National Coastal Zone Management Authority

Rohan Khaunte

Subhash Phal Desai

Narayan Rane

Dr. Caitanno J Fernaandes highlights his journey from starting out as an ambitious young man to setting up Goa’s first portable sanitation company, in order to keep his state clean and green, while making a difference to the environment

LEADING THE WAY

By SYBIL RODRIGUES

Dr. Caitanno J Fernaandes describes himself as a small town boy who had dreams of making it big in the world. And big did he become by establishing CAM Industrial Services in the year 2005 – a hygiene company and trading house. In a short span of time, his company has expanded

and diversified. The versatility combined with quality and reliability of CAM Services are the factors for Dr. Fernaandes’ growth and success. CAM Services boasts of providing complete sanitation services for indoor and outdoor events, complete housekeeping services by trained staff for all occasions, construction and

implementation of bio-digester toilets and complete turnkey projects for waste management education and early years.

At a young age Dr. Fernaandes left his beautiful tiny village of Assolda Chandor in South Goa to go to the big city of Mumbai to pursue his education. He earned a diploma in production management

from Fr. Agnel Polytechnic Institution, Bandra; from there, he got selected as one amongst a few people in India to acquire special training and expertise in welding at Finland. This culminated in him becoming one of only seven people to receive a certification and recognition from the American Welding Society in 1998.

Pic: ALISTON DIAS

DR. CAITANNO J FERNAANDES

Dr. Fernaandes subsequently worked with the welding giant Advani Oerlikon Ltd. as a consultant and training instructor, providing support to the Indian Navy on its submarines, the Indian railways, ONGC and several other PSUs. He was also involved in training welders for a year all over India and has given a certification to around 3000 welders.

He was then called upon by Oerlikon Ltd. to represent SouthEast Asia and the Middle East as Vice President Sales and Marketing for over 30 countries from Switzerland. Dr. Fernaandes was there for almost five years before he decided to come back home to Goa.

Dr. Fernaandes speaks fondly of his time in Finland and Europe and feels that people in India should send their children to study abroad so that they are equipped with the necessary knowledge and skills. “I visit Finland every two

years. I picked up some of the best skills out there, thanks to their latest technologies and ideas. When I moved to Europe as Vice President, Sales and Marketing, I had to deal with 30 countries. This meant getting used to different languages, different cultures, different people, and habits. In six months, I managed to make myself familiar with all of this. I performed well which impressed my seniors and every year I got a promotion. I left the company as Senior Vice President and came back to India.”

Homecoming and setting up CAM Services

Dr. Fernaandes made plans to come down to India when he decided to get married. On one of his visits to Goa to meet his family, he noticed the poor conditions of sanitation and waste management in his beloved state.

“My wife is from Mumbai and we had come to Goa for a holiday. I visited quite a few beaches with my (then) fiancé and I noticed the lack of sanitation around these beaches and popular picnic spots. It was a terrible experience especially for women who wanted to use a clean place to relieve themselves. I was quite moved by the plight of the people here. I remembered seeing the concept of portable toilets in Europe and that is when I decided that I could no longer stay in Mumbai and have to come down to my roots to work here and make a difference to my state.”

Dr. Fernaandes set up CAM Industrial Services in 2005 with the core value of serving society by meeting its most rudimentary needs – by providing essential services to people. This endeavour has led CAM Industrial Services to work extensively in the field of

sanitation, waste management, housekeeping and bioremediation. “Our vision was to join hands and take a pledge to make our state and country cleaner, greener, healthier and a dignified place to live in,” Dr. Fernaandes adds when speaking about his business.

“In the first year I went to Germany and bought 20 portable toilets with the help of a friend from Pune. This was a totally new concept to Goa and it was difficult at first to convince people to set up a portable toilet for their programs and events. The cost factor too played an important role as each of these portable toilets cost around `3 lakhs, given that they were High Density Polyethylene (HDPE). I gave these toilets out for free for the first six months to create awareness amongst the people, especially the government. After these first six months, I received tremendous support from religious institutions, events companies, government organisations and that is where my journey to making Goa cleaner and greener began.”

CAM’s Mission

Dr. Fernaandes states that his mission is to provide every household with a toilet.

“Much as we claim to be open defecation free, we have yet many remote places to take care of. We are supporting the government in this endeavour and I have extended my support to our Chief Minister, Dr. Pramod Sawant for the same. Our mission at CAM is to

Gomantak

of Goa 2022 Award

AC Portable Toilet

Indian Bio Toilet

Mission to Zero Waste Goa

Times Entrepreneurs of Goa-2021 Award

Business Goa Award for Corporate Excellence 2022

maximise resources value while minimising environmental impact, so that both our economy and environment can thrive. At the end of the day, we all want a clean and green state and I am happy to be of help to our government in achieving this milestone.” He also has a dream to make India as an ‘open defecation free’ country, so that someday we are on par with the first world countries.

Products and Services offered by CAM

Dr. Fernaandes started out his business with portable toilets and housekeeping services. Any event taking place in Goa be it IFFI, Sunburn, Goa Fest, CAM was at the forefront offering their products and services at these big footfall events. He makes a special mention of the St Francis Xavier Feast that is held at Old Goa every year in December. “Every Goan wants to be a part of the feast and the novenas taking place over ten days. I would see everyone well dressed, men, women and children but when it came to using a washroom there were great difficulties. I then approached Fr. Savio Barreto who was the Parish Priest then and the then PWD Minister, Churchill Alemao, to make use of the portable toilets I had with me. I am especially grateful to Alemao, Fr. Savio, Dr. Wilfred D’Souza and Pratapsingh Rane who helped me in getting

permissions and setting up these toilets there. Alemao was my biggest support and thanks to their help things were so much easier, not only for me but also the people, which is what I wanted. We started with setting up ten toilets in the first year at the feast and novenas and now the government is providing around 200 toilets at the site. I consider myself extremely blessed to have brought about this change. I am proud that any event – be it a large one like IFFI or Sunburn, right down to the smallest village wedding, people avail of our services. This is a huge achievement for me and the vision that I started out with and I am glad to say it is a success,” he adds with a smile.

CAM is not only the largest supplier of High Density Polyethylene (HDPE) mobile toilets in Goa, which includes installation, cleaning, and evacuation, but also provides safe disposal of waste, handle waste management and waste treatment solutions.

CAM not only cleans and maintains the portable toilets but also refurbishes and maintains existing toilets in slums, schools, public places, communities, constructed toilets on sites.

Apart from this, CAM also provide housekeeping services with the combined strength of manpower and the best cleaning chemicals,

Dr. Fernaandes set up CAM industrial Services in 2005 with the core value of serving society by meeting its most rudimentary needs by providing essential services to people. This endeavour has led CAM Industrial Services to work extensively in the field of sanitation, waste management, housekeeping and bio-remediation

equipment and trained staff to deliver superior standards of cleanliness to homes and commercial establishments. CAM also leaves no stone unturned towards providing waste management services for mega projects in Goa. They also deal in bio-toilets which is a system of decomposing faecal waste with minimal environment impact at very affordable prices.

Coping in a Post Pandemic Era

Much as the pandemic affected most businesses, CAM Services did not bear the brunt simply because their services were in demand. The pandemic has shown us that our existing systems for sanitation, waste management and hygiene are

still not advanced or developed to support a crisis of these proportions. In such times, it is often the marginalised communities that suffer the most. Throughout the pandemic, CAM made efforts to provide various facilities to people and the state. “We provided our portable toilets at check posts, testing centers and other smaller kiosks catering to the needs of the people. In the post-pandemic era, we aim to make sustainable sanitation and waste management accessible to all people as we believe that it is the basic right of all. This in turn, will lead to a more sustainable, healthier and a prosperous economy for Goa and India at large,” Dr. Fernaandes affirms.

Achievements and Awards received

In 2017, Dr. Fernaandes completed his doctorate and received a Ph.D in Philosophy. In 2021, he received a state award at the hands of Chief Minister Dr. Pramod Sawant – this was for his contribution towards making Goa ‘open defecation free’ and promoting sustainable development in the state in the field of waste management and sanitation. He was also awarded the Times Entrepreneurs of Goa-2021’ for ‘Valuable Contribution in the Field of Sanitation and Waste Management’. In 2022, Dr. Fernaandes was awarded

State Award presented by Goa Chief Minister, Dr Pramod Sawant

Bio-remediation

the Business Goa Award for Corporate Excellence in the category ‘Excellence in Sustainable Development in Sanitation and Waste Management’. He also received the Gomantak Brands of Goa 2022 – a recognition for being part of Goa’s 60 years iconic journey and valuable contribution in sustainable sanitation and waste management.

During the 2022 Assembly elections, CAM Services provided over 1250 toilets at different polling booths. Thanks to Dr. Fernaandes getting into the business of waste management and sanitation, many other people have opened up similar businesses, which have given him a sense of satisfaction and fulfillment.

Challenges Faced

Dr. Fernaandes is grateful that he did not have to face many challenges especially when it came to finances. “My job in the international market assured me of financial stability and money was never a problem. The biggest hurdles that I faced were in dealing with the government when it came to the paperwork and seeking permissions. But that too was taken care of, once certain ministers and people in government departments knew that my business was all about serving society. Now, all major industries like event management, tourism sector and government departments have recognised the work that I do and everyone has been very supportive, be it private players,

senior officials in private firms, government officials and ministers, everyone knows what I and my company stand for. No matter the kind of business that we run today, nothing can be done without the help of the government and I have been lucky to receive a lot of support from them.”

Another issue that Dr. Fernaandes has faced is that of labour. “It is rare to find Goans who will do these kinds of jobs. I have to depend on people from outside the state and while I do have to pay them extra it does not matter at the end of the day as it is all for the greater good of our state and country.”

Entrepreneurial journey over the years

Having begun his journey with 50 portable toilets, Dr. Fernaandes’ organisation now has over 450 portable toilets and are now working on sustainable solutions in the areas of housekeeping, bio remediation,

e-waste management, operation and maintenance of material recovery facilities, wet waste management systems like composting and biogas plants, and construction of Indian household toilets. Their consistent, time bound and quality services since 2005, operational excellence and hard work define their success. “Making a difference to my home town and state was all that I ever wanted to do and I am very happy that I have delivered my best when I set out on my entrepreneurial journey. Two more players have entered the same field and I am very happy that I could make a difference. I do not see these people as competition but as fellow industry players who are all working towards the betterment of the state. I feel more people should enter this business and though there will be competition, it must be a healthy one. Today, I am happy with my work as I am giving the best of what I have to offer. We have made a name for ourselves, thanks to our quality and I intend on keeping it that way.

Hobbies and Interests

Running the kind of business that he has is not an easy ball game and yet Dr. Fernaandes makes the time for a different kind of ball game which he calls as his passion and first love, and that is football. “Right up from my childhood and school days, football is my biggest passion. I never played for the state or even my college but I

played good football and it is something that I really enjoy apart from my work. Over the years, I have attended four World Cups and whenever I have been to Europe or the UK I make sure to watch live football matches. I will also be attending the World Cup this year which will be held in Qatar. Like every Goan says xitt-koddi is our staple and then comes football and that is something I firmly believe in. Although I lived in Mumbai, I would watch football matches there too, whenever I got the chance. We used to have our team when I worked at Mahindra & Mahindra.” Apart from football, Dr. Fernaandes also watched cricket but gave up once Sachin Tendulkar hung up his bat. “We were neighbours in Bombay and I have watched him grow up and become the ‘God of cricket’. After he retired, I sort off lost a connect with the game and gave up watching cricket altogether.”

Running for GFA President Dr. Fernaandes is the President of Football Club Tuem and is currently running for elections for the post of President of the Goa Football Association. Speaking on the Tuem Football Club he says, “This Club is nine years old and today I feel football is alive in Goa because of all these small village clubs. These clubs put in their own money and keeps the clubs going, while ensuring everyone is invested in the game. No government organisation or association is supporting them. Even the GFA I feel needs a lot

Outdoor Event Housekeeping

“Our mission at CAM is to maximize resources value while minimising environmental impact, so that both our economy and environment can thrive. At the end of the day we all want a clean and green Goa and I am happy to be of help to our Government in achieving this milestone”

Playing at the 10th Anniversary GFDC

Dr. Fernaandes hopes to bring about a change in the way Goa plays football now and hence his decision to run for the post of President of the GFA

COVER STORY

of improvement. Each term a new President just comes in and goes, which just makes it a mere formality while doing nothing else to keep the game going in the state. I feel the game needs to be revived. We cannot blame covid or any other crisis. Football should thrive in Goa. A game like football helps build unity amongst people, builds our health and we have some excellent footballers who have so much potential. We have also had the best of footballers in the past but today we still have to make a lot of inroads when it comes to this game.”

He hopes to bring about a change in the way Goa plays football now and hence his decision to run for the post of President of GFA. “I want to make a change in the football scene in the state. I feel we should focus at the grassroot level; and this includes all the villages.

My vision is to meet the clubs in each village and take up the challenges that they are facing. Our village youth need something to keep them busy and I feel that football is a great way to do this. I also want to focus on the infrastructure of our stadiums around Goa which is the need of the hour.

At the end of the day, I want

to see Goa at the top of the game and hope to one day have as many of our Goan talent play internationally,” he adds.

Corporate Social Responsibility

In 2017, as part of their Corporate Social Responsibility, CAM Industrial Services conducted road cleaning of the entire stretch from the Miramar Circle to the Dona Paula circle. This was a regular cleaning service started by the company and was inaugurated by late Chief Minister Manohar Parrikar.

Dr. Fernaandes also sponsors an old age home and is looking after 300 neglected senior citizens. He is contributing towards their daily needs of accommodation, providing them with nutritious food, he has a doctor available for them round the clock, on all days of the week. Their emotional wellbeing is also looked after by Fernaandes and his team.

Family Life

Dr. Fernaandes’s biggest support is his family and he gives all the credit to his wife and his two daughters. “My family means everything to me and my wife has been my biggest support and

inspiration”. He also includes his CAM Industrial Services team as part of his family and is immensely grateful to have a supportive and hardworking team who are always there whenever he needs them. “Without my team I wouldn’t be here today and most of my success I owe to them.”

Mantra for Success

“I believe that one needs to put in a lot of hard work and not give in to pressure of what people say. If you are starting

something, do your research on it and weigh the pros and cons. Then don’t look back and keep going. Give it your best shot and you will be ensured of success.”

Future Plans

As far as his future plans go, Dr. Fernaandes is now into bio remediation of dumps. “The entire country is facing a lot of issues as far as dumping of garbage goes. There are huge piles of garbage everywhere and I want to do something about this soon. CAM has been selected to clean up these places and this is the vision of our Chief Minister. He wishes that all such dump sites should be cleared by 2024, and we are supporting him in his mission. We are also working on a zero waste policy in all villages and our vision is to have Goa as the first state in the country to be free of waste.”

Dr. Fernaandes intends to expand his business in the international market and has already begun taking steps in this direction. “I have spoken and given a presentation to the Mayor of Paris. She was so accepting and welcoming of my business that within a year she has set up portable toilets around the touristic areas. The infrastructure will be taken care of by them while I will be providing the maintenance and this is where our expertise comes in. We have provided around 60 toilets to Paris already. We have a presence in Dubai and I would like to take this service to other countries as well. I have studied the markets in Belgium, The Netherlands and Maldives and I hope to make a name for my state and country abroad.” His priority is to make India completely free of waste and have people say it is one of the cleanest countries in the world.

Dr. Caitaano J Fernaandes continues to pursue his dream of sustainable development for his beloved state of Goa, wherein all people have access to basic essential facilities in addition to a clean environment, air, and water

Dr. Fernaandes started out his business with portable toilets and housekeeping services. Any event taking place in Goa be it IFFI, Sunburn, Goa Fest that used to take place years ago, CAM was at the forefront offering their products and services at these programs

Making Goa a Logistics Hub

By SYBIL RODRIGUES

The 8th Edition of CII Goa Conference on Logistics was held on the theme ‘Creating Synergies to develop Multimodal and Air Cargo Logistics for Goa’.

The theme for this year’s edition was selected with an objective to highlight potential opportunities and call for greater utilisation of air cargo led multi-modal logistics infrastructure.

Speaking at the inaugural session for the event, Swati Salgaocar, Chairperson, CII Goa State Council, said “Goa is poised to transform into an air cargo led regional multi-modal logistics hub. The international airport in Mopa is expected to provide the right kind of impetus to the logistics sector in the state.”

Setting the theme for the conference, Anthony Gaskell, Mentor, CII Goa Panel on Logistics and Director, Sentrans Shipping Pvt Ltd highlighted the need for infrastructure development for augmentation of Multi-Modal Logistics which would be a game changer for the State along with robust policies by the Government to support this industry.

Saurabh Kumar, Chief Executive Officer, GMR Cargo, presented the plan for handling of cargo. “The upcoming airport at Mopa has a strong potential for exports especially pharma, agri perishables cargo such as fruits and vegetables, marine products, aerospace, IT etc.”

Sunil Chordia, Chairman,

CII Western Region and CMD, Rajratan Global Wire Ltd, said, “CII is significantly working with the Government, Industry

and all stakeholders to enhance and sustainably promote the logistics sector in the state and to address the various challenges faced in this sector, that has led to high logistics cost incurred by both the local and export/import trade.”

Suresh Prabhu, former Union Minister, stated that Goa is strategically located and often referred to as the gateway to Middle-East and Europe. “I feel Goa has a tremendous potential for exports. Goa has good connectivity with the rest of the country via road, air, rail and port; this connectivity will be further enhanced by the commencement of the Greenfield International Airport at Mopa.”

Mauvin Godinho, Minister Industries and Transport, Government of Goa stated that the Government of Goa has put in great effort to upgrade the logistics landscape in the Western Region. “We have provided for the development of dedicated logistics parks and freight corridors, technology upgrades to various backend systems, formulation of a robust logistics policy for the state, which would be notified within a few days.”

The plenary sessions were hosted by industry experts from various fields, key government officials and stakeholders. The preliminary session focused on Unlocking and Leveraging Air Cargo Potential at the upcoming Greenfield International Airport at Mopa,

wherein the key discussion points were the development of critical infrastructure for cargo terminals and logistics ecosystem such as cold chain facilities, additional road infrastructure, last mile connectivity and warehousing facilities to optimise logistics cost.

The following session on approach to make Goa a preferred Logistics Hub in Western India highlighted the ongoing developments related to logistics infrastructure

CII deliberates on ‘Creating Synergies to develop Multi-modal and Air Cargo Logistics for Goa’

“I feel Goa has a tremendous potential for exports. Goa has good connectivity with the rest of the country via road, air, rail and port; this connectivity will be further enhanced by the commencement of the Greenfield International Airport at Mopa”

“We have provided for the development of dedicated logistics parks and freight corridors, technology upgrades to various back-end systems, formulation of a robust logistics policy for the state, which would be notified within a few days”

Suresh Prabhu

Mauvin Godinho

Former Union Minister, Government of India Minister Industries and Transport, Government of Goa

“The upcoming airport at Mopa has a strong potential for exports especially pharma, agri perishables cargo such as fruits and vegetables, marine products, aerospace, IT etc”

Saurabh Kumar

Chief Executive Officer, GMR Cargo

Anthony Gaskell, Saurabh Kumar, Sunil Chordia, Suresh Prabhu, Mauvin Godinho, Swati Salgaocar, Anirudh Agrawal and Rajesh Kapoor

in Goa, its greater role in growing domestic and international trade and inherent competitiveness by leveraging the unique benefits under the ‘Pradhan Mantri Gati Shakti Plan’.

The session also explored ways by which Goa could develop warehousing facilities, truck terminals, Inland Container Depots (ICD), Container Freight Station (CFS) Integration across strategic locations in the state with seamless connectivity.

As regards the session on exploring the potential of Goa as a Multi-Modal Logistics Hub, the major points were the development works currently going on in the state aimed at strengthening the state’s first and last mile connectivity by creating a common platform through building the necessary infrastructure which will connect North to South Goa and the need to provide seamless connectivity for

facilitate the trade by lowering overall freight costs and time, optimising warehousing costs, reducing vehicular pollution and congestion, improving tracking and traceability of consignments, making it a game changer for Goa.

The session on Digitalisation of the Pharma Logistics and Cold Chain/Regulatory clearances highlighted how digitisation allows companies to fully integrate their supply chains and improve operational processes, making them more adaptive and responsive, as well as regulatory approvals and clearances required from Central and State Governments for pharma products and other cold chain products and their exports

Sunil Chordia Chairperson, CII Goa State Council

timely movement of cargo in adequate volumes which would

The key takeaways of the conference are to provide an integrated, cost-effective, seamless, timely delivery of projects and to encourage investments to boost Goa’s economy

Chairman, CII Western Region and CMD, Rajratan Global Wire Ltd

“Goa is poised to transform into an air cargo led regional multi-modal logistics hub. The international airport in Mopa is expected to provide the right kind of impetus to the logistics sector in the state”

“CII is working significantly with the Government, industry and all stakeholders to enhance and sustainably promote the logistics sector in the state and to address the various challenges faced in this sector, that has led to high logistics cost incurred by both the local and export/ import trade”

Swati Salgaocar

Kineco wins `113 crore order for modular interiors of the prestigious Vande Bharat trains

Goa based Kineco Limited, one of India’s leading composite technology providers, announced that it had bagged a `113 crore order for supply and installation of modular interiors for Vande Bharat semi-high speed trains (originally called Train 18), from its esteemed customer, Integral Coach Factory, Chennai.

Earlier this year, Kineco was also awarded with the largest order of 68 train fronts of the same Vande Bharat Trains. These orders, together with its already strong order book, will catapult Kineco to become one of India’s largest train interior suppliers.

‘Vande Bharat’ Train is India’s first semi-high speed and is designed and manufactured under the Government’s ‘Make in India’ initiative, by Integral Coach Factory (ICF), Perambur, Chennai – the oldest and largest train manufacturing arm of the Indian Railways. This train offers better energy efficiency and premium passenger comfort and travel experience.

On this occasion, Kineco’s Founder and Managing Director, Shekhar Sardessai said, “We feel proud to win

this prestigious order and to be a part of the ‘Make in India’ story. Since many years Kineco has been on the forefront of the Indian Railway Modernisation Drive and this order gives us yet another opportunity to showcase our expertise in delivering world class products, using the latest proprietary technologies. This order is a reflection of the immense goodwill garnered from our customers. We are grateful to our esteemed customer, Integral Coach Factory, for reposing their trust

and confidence in us towards fulfilling an order of this scale. I congratulate Team Kineco for this big win in its journey to bring a paradigm shift in the passenger experience in Indian Trains.”

The Chairman of Board of Directors of Kineco and Joint Managing Director, Indo National Limited, Aditya Reddy said “I congratulate the entire team at Kineco for achieving this significant order. Achieving an order of this size is a testament to the reliability of our products and reaffirms

the faith that our customers have on our products, being the best in class. I am certain that this is one of the many big wins coming our way and my good wishes to Team Kineco for its successful execution.”

Kineco’s IRIS certified Railway Division has been supplying world class composite products to Indian Railways for more than fifteen years, with several innovative product developments to its credit. The railway product portfolio includes rail coach interiors, toilet modules, aerodynamic front ends and driver cab interiors and hard seating systems. Kineco has a strong presence in the segment of design to build turnkey railway interior projects for new and refurbished coaches and currently is among few players in India qualified for such projects.

With passion for innovation and technology and credentials of two and half decades in developing world class composite products to discerning customers in aerospace, defense, railways and industrial markets, Kineco has emerged as India’s most diversified and fastest growing company in its field

Integral Coach Factory, Chennai places order with Goa based Kineco for supply and installation of modular interiors for Vande Bharat trains

Train 18 interior

FVB Train

Shekhar Sardessai

Journey of EP Kamat Group from an MSME to getting listed on the BSE SME Exchange

At EP Kamat Group we have been committed towards nurturing a better environment since its inception in 1991 with EP Industry which was initially into powder coating. Later on, we moved on to manufacturing ornamental railing gates, etc. and exported gates and railings from 2002 to 2007 until the US market crash of 2008. We got into the manufacture of FRP doors since 2002. Around 2009-10, I got involved in social activities which helped me to lead GSIA, BNI and other organisations.

In 2016, we revisited our business and services and felt that we should move away from powder coating, gates and railings and get into sanitation. As the Prime Minister of India had commenced the ‘Swachh Bharat Abhiyan’, we thought of entering this sector. We tried to identify the technology that would be available to us. After doing a detailed study, we found out that the Defence Research and Development Organisation (DRDO) was offering the most appropriate technology developed by them. We went in for the bio-digester technology from DRDO in 2017 and by 2018 we set up a bacteria generating plant. Here, there are two technologies involved, one is the bio digester tank made out of composites and second is the bacteria. We obtained the seed bacteria from DRDO and set up a plant which generated bacteria which helped run the bio digesters. Bio digesters are a direct replacement for septic tanks. The bio digester tanks are smaller in size, cost less, are environment friendly and have no maintenance vis-avis septic tanks which made it the perfect technology. This is where the bio toilets came into the picture. We were one of the five contractors who

executed a tender floated by the government of Goa. While we were working on that and trying to identify what could be further applications of bio digesters; we realised that many organisations had STPs which were not working, which defeated the very purpose of a STP. We therefore decided to get into the sewage treatment and effluent treatment business and took on board a team which had around 25-30 years of experience. Here we decided to go in for a combination of technologies because we could offer each customer a customised solution based on his or her requirements. This has been our journey as far as our products and services go but I would not like to call it a journey from a MSME to the BSE, because we still are an MSME. It is a journey from a proprietorship to a public limited company.

What made you go for a listing and what was the vision behind it? IPO listing is not the end in itself, but a means to an end-for

me the objective is exponential growth and IPO and BSE SME listing is one of the steps towards it. In 2019, after Vibrant Goa I made up my mind that we should go in for the SME IPO. The decision streamed out of a few experiences. In 2018, for a BNI event, we had invited Ajay Thakur the head of the SME platform of the BSE. He spoke about unlocking the value of a business by going through an IPO. At the same time, when our tender was being floated the quantity expected was high and this had to be executed in a short time. I needed funds and began looking out. Banks could only offer limited funds depending on your past turnover. When in 2018 we had disinvested from the powder coating business, we realised that we had to sell off our business just at assets value. After being in the business for 25-30 years getting just the face value of our assets was quite disappointing and therefore I felt two aspects would get covered with the IPO. One would be unlocking the value of the business and secondly

the constraints which we faced from the banks for funding, where they were unable to match up to our requirements for exponential growth, would be taken care of. Due to these two reasons I felt the IPO was perfect for us. We took a call in 2018 but since I had other commitments as the President of GSIA and Vibrant Goa Global Summit I decided to wait. After Vibrant Goa, which happened in October 2019, in January 2020 we formed EP Biocomposites Ltd which was a public limited company but without public shares. We had seven shareholders then. My vision behind this was to grow our business exponentially without any constraints of funds and add value to our business.

How long was the process right up from conceiving the idea to getting it done?

The thought came to me at the end of 2018. But we decided to execute it at the end of 2019.

We began the process but then covid hit in March 2020. We deferred it until 2021 till the situation began to improve.

In July-August 2021 things became stable and we decided to rework and move ahead. We appointed a merchant banker in August 2021 and after a very thorough due diligence they finished the process by January 2022 and BSE approval for Depository Participant (DP) in March 2022. The Merchant banker felt it would be better to go ahead with the issue after the finalisation of the March 2022 balance sheet which got finalised around June end.

Between July to August we finished the rest of the process and on the 29th of August we opened the IPO.

Your issue was oversubscribed 17 and a half times. Do you think you should have gone for a bigger listing?

Rajkumar Kamat

Rajkumar Kamat, Founder and Managing Director, EP Biocomposites Ltd, speaks on the company’s listing on the BSE

“The way forward for EP Kamat Group is working on multiple fronts to ensure exponential growth”

ACCOLADES

SHRINIVAS DEMPO TAKES OVER AS PRESIDENT OF AIMA

Dempo Group of Companies, Chairman, Shrinivas Dempo has been appointed the new President of All India Management Association (AIMA). Dempo will be succeeding CK Ranganathan, Chairman and Managing Director, CavinKare.

Other new appointments at AIMA include Nikhil Sawhney, Vice Chairman and Managing Director, Triveni Turbines who will be taking up the post of Senior Vice President of AIMA; and Suneeta Reddy, Managing Director, Apollo Hospitals Group in the role of new AIMA Vice President.

Shrinivas Dempo is Chairman of Dempo Group of Companies, which has diversified interests in industries like calcined petroleum coke, ship-building, food processing,

First and foremost, I am not aware of the process of shares and listings. This was a new experience for me. I know my business and I know how to grow it. When the merchant bankers did the valuation, they came to a value of `20 crores. Therefore they fixed the issue price of around 120+ which finally came to a figure of 126. Whenever I talked to my friends or well-wishers who are into investments, they mentioned that this may look like a high price. Again, the situation in the stock market had already gone on a back foot with the Ukraine war and foreign financial institutions withdrawing from the country. My merchant banker said that there is nothing like a right or wrong time and it is all a question of the company, how strong is its foundation and what are its prospects. Considering we are in an environmental related business, a green tech business; with high potential and financially stable we could go for it. Now, in hindsight, we can think of a lot of things. But we went ahead and here we are today. As of today (20th Sept 2022) the share price at `126/- for IPO is trading above `200/-,which I

real estate and newspaper publishing. He is also part of the executive council of Goa University and is also associated with a few nongovernmental organisations performing yeoman services to society which include the Charles Correa Foundation, and Goa Cancer Society.

Dempo is also involved in activities pertaining to Goan society such as institutions and programmes of higher education, cultural enrichment, environmental conservation, sporting excellence and affirmative action, which all fall under the Dempo Charities Trust and Vasantrao Dempo Education and Research Foundation.

In his capacity as chairman of the prominent petroleum coke manufacturing listed

company, Goa Carbon Ltd, Dempo was honoured with the Asia Pacific ‘Outstanding Entrepreneurship’ Award India, a few years ago, in recognition of his pursuit of responsible business practices by the Asiawide organisation, Enterprise Asia, dedicated to management

development and ethical business.

The Republic of Italy recently named Dempo its Honorary Vice Consul in Goa, making him the only Indian citizen to hold such a consular position. Of the many offices held by him in chambers and associations in recent years, the presidency of the Western Region of the Confederation of Indian Industry, India’s biggest industry lobby, and the elected presidency of Goa Football Association were particularly notable.

Dempo’s venture into business has been the acquisition of a stake in the Goan franchise of the Indian Super League, a nation-wide initiative to popularise and professionalise football, a sport that he adores

there. After we decided to go public, in 2021, we began work on digital marketing, too. From 25 leads initially, we now get 400 leads per month. Now, we would like to strengthen this further. The funds would also help us to develop new products and also look at overseas opportunities. In short, the way forward for the company is working on multiple fronts to ensure exponential growth.

do believe is a good indication of the company’s strong fundamentals.

What is the way forward for EP Biocomposites now that you are publicly traded?

Whether we are publicly traded or not does not matter to me from a business point of view. From the business end we are looking at growth and these funds that we have raised through the IPO will help us to grow at a faster rate. Our plans are to grow the business and we began strengthening our team for over a year. We got in younger professionals and have a good mix of wisdom and experience of the people who have been there with us for decades. We recruited quite a number of

young professionals so that we could have the best. This process has to go further as we look at growing exponentially. So far most of our business comes from Goa while some bit comes from North Karnataka. Now we are leaning heavily on North and South Karnataka like Mangalore followed by parts of Maharashtra especially the Konkan areas, Ratnagiri besides Kolhapur.

Geographical expansions mean we will have to invest in those places in terms of building the brand and having the right team. So the funding is going to be used for that. We are also going to utilise technology substantially as we move forward. The company is exploring the overseas niche markets and looking to invest

What is it that you had to undo as an entrepreneur to make the shift from a private ownership to a public company?

Frankly speaking, I didn’t have to do much. Primarily because I have always been a hands off person; when you are a hands off person, you expect the people you recruit to take care of things. And when you expect such things you already have systems in place. We have these systems in place, however what is going to happen is the compliances of a public limited company are much more intensive and this is something we have to be prepared for. The process has begun and in the next two or three months our preparations would be complete on that front, too

Shrinivas Dempo

Rajkumar Kamat ringing the gong at BSE along with family and associates

INTERVIEW

“GMA HAS BRIDGED THE GAP BETWEEN INDUSTRY AND ACADEMIA”

These two years were very challenging as we were right in the middle of the pandemic. I took over as Chairman on a virtual handover by my past Chairman. Though some meetings took place virtually, as and when we got gaps we hosted physical meetings and programs.

Much as people got used to things being done virtually, it just didn’t have the right kind of punch. After things began settling down and people got used to the fact that we have to live with covid, we began having programs in person. As soon as we got an opportunity, we took it up very seriously and apart from our regular programs like ‘Leader Speak’, we also went in for debates on next generation leaders of the industry and transforming the economy from pre-covid to post-covid world. We also had a threadbare analysis of the New Educational Policy and a debate on Goa’s Budget. GMA also conducted the flagship program of the All India Management Association (AIMA), ‘Shaping Young Minds’.

Two of these programs were relayed virtually; and thanks to the connect that we enjoy with educational institutions, especially the BBA colleges, we could gather a large viewership for the programs. This time, we are having a physical program of ‘Shaping Young Minds’ which will be scheduled for the term of the next Chairman, Deepak Bandekar.

We already have in position an MoU signed with eight BBA colleges and by 15th of September this year we will have the balance three colleges under our MoU.

There is a lot that can be done with management

students in Goa because we become the first contact with industry professionals and that gives them a straight advantage to interact and know senior members of the management industry. Whenever there are interviews for such students, we can connect them directly to such professionals and many of them have been able to secure jobs due to this connect. This is a welcome thing but I still feel we can do more. We have got three sub-committees and all three of them are pursuing and aiming for stronger connects with the industry.

What are your views about the last few years at GMA?

GMA is the only professional body in the true sense. We are hardcore professional managers who have, by choice, come together to spend time and conduct programs for the industry and academia. That is what we can give back to society.

What was the primary focus of GMA during your term as Chairman?

As a tradition, the GMA continues with the legacy of the past Chairmen. The programs conducted by us like Leader Speak have been our forte. In fact during our past Chairman’s era, we conducted various programs but unfortunately during my time we were restricted due to the pandemic. We felt that these programs are more suitable to be conducted in the physical mode rather than virtually. But nonetheless, we did quite a number of sessions both physically and virtually which has had lasting impressions on the performance of the GMA in the last two years despite the pandemic. Some key events were a talk by Shiv Shivakumar on the topic Looking Ahead, GAFA Digital Economy and Challenges Ahead; Panel Discussion on Tourism in Goa: Building Back Better; Management Day Celebrations; GMA Knowledge Series talk by Jinesh Shah; Lecture by

Major Maroof Raza; inaugural function of Certified Manager Programme; a talk by Walter Vieira in association with Goa Chamber; and a talk by Atul Pai Kane, in association with Goa Institute of Management.

What legacy programs have you continued from your predecessors?

We have had our annual program of Leader Speak where we get a senior member of the industry who talks about his life and his growth in the industry. We had some very interesting personalities like late Victor Albuquerque, Sundar Advani, who spoke at length about their management journey and others business ideas.

Where do you see GMA in a year from now?

GMA has got a very good structure and excellent committee members. I have no doubt that with a little bit of a push, we can go back to the glorious days of GMA where we would conduct one program per month in the physical mode, specially for the industry.

During your term, how have you connected with the industry to further the aims and objectives of the organisation?

Goa’s key industries include hospitality, pharma, engineering and mining. Mining has been low key since 2012 though there are a lot of expectations that things will improve. Pharma was the one industry that got a leg up during the pandemic. The engineering units have picked up their operations in Goa. FMCG is another industry that is doing well, along with finance and banking. The tourism industry has come back with a vengeance and as we speak Mopa Airport has had a test runway which augurs well for this industry. We will have plenty of tourists

Amin Ladak

How would you rate the two years gone by under your chairmanship at GMA?

SYBIL RODRIGUES catches up with AMIN LADAK, Chairman of Goa Management Association, who speaks about his leadership role and shares with us the highlights of his work at GMA, as his tenure comes to a close

flooding Goa which is a good sign for the economy of the State and bodes well for us. We had a pleasant connect with all these industries and as and when we got in touch with them for our various programs and events there was always a welcome situation where they were keen to partner with us. The pharma industry was quite prominent players for us during my tenure.

What is your opinion on management education in the State?

I was pleasantly surprised

when connecting with the BBA colleges to get them on-board the GMA. There are eleven BBA colleges in the State and I feel today, the shift is from B.Com to BBA. Students would rather take up BBA which has other subjects that adds value to the program as well as overall development of the student.

What is your vision for GMA as it marches towards its 50th year in 2025?

We could do a lot of programs. Goa is a small State and with the support of our patrons from

the industry. We will chalk out a golden jubilee event befitting GMA and AIMA (our parent organisation).

How is GMA’s association and relation with other trade industries and bodies and how have you built bridges with them as Chairman?

The other advocacy bodies that are in Goa like CII, GCCI, TTAG and professional bodies like Institute of Engineers and NIPM have an excellent relationship with us. Fortunately, I am a member of GCCI and CII. It takes a

little extra effort in attending these programs so that we can connect with them and a lot of people have recognised and realised that we are using this connection to extend our membership reach to the industry which has given us a positive impact and we will have plenty of members from various sections of the industry. The more members that we have, the more enthusiastic we will be in conducting events, programs and showcase what we are doing as a premier management body in Goa

AIMA President Shrinivas Dempo hands over a certificate of merit to Ladak and Deepak Bandekar

Ladak with GCCI‘s Manoj Caculo, Ralph de Sousa and Pratima Dhond felicitating management guru Walter Vieira

L to R: Rohan Bhandare, Harshvardhan Bhatkuly, Sanchita Banerjee, Atul Pai Kane, Amin Ladak, Venkatesh Naga and Pradeep Salgaonkar at Goa Institute of Management

A Powerhouse of Talent

By SYBIL RODRIGUES

The best way to describe Rina Barreto Shankar would be to say that she is effervescent, creative, free-spirited and most of all, ambitious. The founder of Cheree Tree Concepts, she has an experience of over 18 years in brand building, marketing communication and internal branding or employee motivation strategy. She has worked with some of the biggest names in the business world and has made a mark for herself in the field of advertising and branding. A brand strategist, communication coach and personal branding coach, Rina’s contributions in mentoring youth to build confidence through communication, and guiding women entrepreneurs with personal branding, business strategy and marketing have earned her recognition and regard in her field of expertise.

Her work today, as the founder of Cheree Tree Concepts, spans small business owners and women entrepreneurs, brands that have been in the business for 20+ years as well as newly launched ones, and local, national and international clients. “We are here to create something to be proud of,” she says about her 4-year-old business. And we want to help our clients gain immediate as well as long-term value from associating with us.”

Rina grew up in Goa and attended Mary Immaculate Girls’ High School, Panaji. She then went on to complete her degree in Economics from the reputed St Xavier’s College, Bombay. This really set her up on the path that she then carved out for herself. “It set me up for a long and fulfilling career in Bombay, helping me gain experience from some of the most reputed multinational companies in the country. Moving away from the comfort of my hometown,

changed my perspective on my potential, and just gave wings to my dreams and aspirations. St Xavier’s College was the starting point, to meet the most creative minds to handle the most challenging situations.”

Rina had always been intrigued by the creative world of brands and advertising. The intricacies of crafting marketing messages, the visual communication in print and electronic media, and the art and science behind human communication, are all fascinating to her from her early years. Hence it was a natural progression to gravitate toward advertising agencies, though she has completed her Master’s in Economics. “My first ever paying job luckily for me, gave me exposure to big brands like HDFC Bank, and Business Standard among others. However, what made the real difference at that stage was “an ideal boss – a gentleman and a mentor.” It helped set the tone for a long rich career in some of the best agencies and MNCs in Mumbai.

The experience and knowledge that she gathered in her decade-long career in the advertising, events and branding industry helped her move on to Hong Kong and Shanghai Banking Corporation (HSBC) to handle internal branding. She believes that the power of internal branding is underestimated by most businesses. She says “creating loyalty for your brand among your internal customers –your employees – should be an integral part of an overall brand building strategy of any organisation that wants to grow beyond borders and stay powerful in the long run.

In her career in the corporate world, Rina has worked on brand presence for brands like Tata Indicom, Godrej Securities, and Unilever brands like Pepsodent, where she travelled across various cities to launch and promote these brands. “I worked with a diverse range of campaigns that needed to be executed on-ground like Airtel, on print and electronic mediums,

through visual merchandising for brands like Samsung, and other traditional methods. This gave me a great perspective of the essence of building brand presence”, says Rina.

She came back to Goa in 2014, with her 3-year-old in tow, and the first thing that hit her was the pre-school culture. It prompted her to immediately start looking for the perfect space to open a pre-school –that would encourage freedom and free-spiritedness in little children setting out on their first journey into a formal learning environment. Her belief was that, if children are allowed to express themselves and be comfortable with themselves, it would set the right tone for a healthy learning experience. Unfortunately, this first entrepreneurial venture was slated to be a failure –she realised that she was illprepared for the venture. This failure, however, was a boon in disguise, giving her complete clarity on her skill sets. She started her venture Cheree Tree Concepts, with the sole aim of supporting small businesses with marketing and branding material that would help them reach a wider audience and build their ventures.

About her entrepreneurial journey, Rina says “It has been a rollercoaster ride. You start off with brilliant ideas as you feel you have gained the necessary skill sets and experience. But you never anticipate the challenges completely. I have made my mistakes, made a fool of myself, said the wrong things, and been a complete disaster…and the journey has finally reached a point where I can confidently say that I am happy to have set out on this journey.”

Cheree Tree Concepts supports businesses to communicate with powerful design and marketing tools today. She reminisces about

Rina Barreto Shankar speaks on her journey from working as an advertising executive to setting up her own brand building agency

RINA BARRETO SHANKAR | FOUNDER, CHEREE TREE CONCEPTS

Rina Barreto Shankar

the early days when she would ask startups whether she could design their logo or craft an introduction or a script. Her complete dedication and effort to these small projects soon turned into brand launch campaigns, social media management, advertising projects and national/ international assignments. “I feel happy that I have grown my business organically,” she says. Their current client portfolio includes several local and national brands in health and wellness, lifestyle, consultancy services, a startup incubation centre – FiiRE (Forum for Innovation, Incubation, Research & Entrepreneurship) for whom her team work on MarComm and PR, as well as international clients like a communication skills institute in Dubai, an Ayurvedic brand operating from Australia, an energy healer from Canada and other diverse brands. “I find it fascinating and fulfilling

to think creatively and work intricately on building brand image and presence for these brands,” says Rina.

Rina recently instituted a mentorship where she guides small business owners, especially women entrepreneurs on their customer acquisition and retention strategy, brand building and communication planks, personal branding and more.

Rina has been interacting with students for several years, helping them build confidence through communication. She instituted a Facebook group called ‘Youth Lead’ and a classroom-based platform called ‘Young Ideas’ where students come together to express thoughts, ideas, and viewpoints through a brainstorming session. “When asked to share their unbiased, creative, radical thoughts, on a topic, students learn to express their point of view, persuade

others, debate a topic, be flexible to other’s opinions, be non-judgmental and ultimately, build confidence,” she says.

Finding resources to take her business to the next level is one roadblock that she has encountered earlier in this journey. Motivated, independent-minded, and creatively-inclined individuals are what I look forward to building my business with” she says. “I look for the mental makeup and emotional intelligence that allows people to perform at their best. There is no second chance in this industry – you either deliver a ‘wow’ to your clients or shut shop.” Her patience has paid off with a small team that she enjoys working with closely. Collaborating with other small startups and brilliant resources that make up the gig economy has helped her deliver value to businesses.

She also feels that Goa needs to have more co-working

spaces. “Startups require the convenience and affordability of co-working spaces. If there are more such places it will be easier for people to set up their businesses.”

Rina’s mantra for success is: Create your own success mantra to stay on a high with life and work. Stay away from clichéd definitions of success. To me success is being able to do the work I love, create value for the people I value, and build something to be proud of, in my own unique way. She signs off with a message to aspiring women entrepreneurs. “We need to remove all limiting beliefs from our minds, so that we can be wives, mothers, daughters and successful entrepreneurs without feeling guilt. We need to have a healthy respect for ourselves, others and money. And above all else, we need to stay physically, mentally and emotionally healthy”

www. business goa.in

Global Chamber of Saraswat Entrepreneurs hold annual conclave

Global Chamber of Saraswat Entrepreneurs’ Annual Conclave was recently held in Goa. More than 300 dynamic Saraswat entrepreneurs from across India and a few from abroad attended the conclave.

Saraswat Chamber provides a platform to its community entrepreneurs to grow their business by creating business networking opportunities.

“Saraswats are considered as Sadhaks of Goddess Saraswati from generations. It gives them opportunities to worship Goddess Lakshmi through this community initiative of the chamber”, said Siddharth Sinkar, President of Global Chamber of Saraswat Entrepreneurs.

The conclave was attended by many Saraswat stalwarts. Suresh Prabhu, former Union Minister addressed the gathering by emphasising the need of networking.

The Chief Guest was Shrinivas Dempo from The House of Dempo. He explained the connection of all Saraswats towards their ‘Kuldaiwata’ as a natural binding amongst its community. “This will act as a guiding force in the coming years to Saraswat Chamber”. He also offered a special welcome to all the delegates who have come from their ‘Karma Bhoomi’ to the ‘Daiva Bhoomi’ to be part of the conclave.

The Keynote speaker was Ulhas Kamath, former Joint MD Jyoti Labs and the founder of UK & Co. He presented few

data points on the challenges faced by the family businesses in India and what steps are needed to ensure to remain relevant as entrepreneurs in this fast changing world.

Kamath also shared that the job availability at the middle level will disappear and only top and bottom opportunities will be available, as technology will take over most of the middle level jobs. “The community has to be ready for this challenge by becoming job givers rather than job seekers”, he added. He also urged the community to develop more women entrepreneurs to have more sustainability in businesses.

Saraswat Bank was the principal sponsor of this event.

Gautam Thakur, Chairman Saraswat Bank, delivered a rousing speech ensuring constant support for all the events of Saraswat Chamber. He also promised that the bank will discuss on aligning with the chamber in developing project funding options to the members of the chamber.

On this occasion, there were felicitations of all those Saraswats who have made their mark and well established themselves in their entrepreneurial journey spread across different regions including Mumbai, Goa, Mangalore, Bangalore and Udupi. To name a few, Saraswat Bank SVC Cooperative Bank, NKGSB Bank, Shrinivas Dempo, Daji Salkar (MLA), Audhut Timblo (Fomento Group), Shekar Sardessai (Kineco Group), Pravas Naik (Nanu Group), Dattaraj Salgaonkar (V.M. Salgaocar Corporation), Shivanand Salgaonkar (VIMSON), Manoj Caculo (Caculo Group), Anil Counto (Alcon Anil Counto Enterprise), Jagmohan Kaul (Verispring), Giridhar Prabhu (Achal Group), Bhushan Namlekar, R S Shanbhag (Value Point), Pradeep G Pai (Hangyo), Subhash Kamath (Abharan Jewellers), Dr Ushaprabha Nayak (Expert Group), Devendra Parulekar (Saffron Stays), Swarna Jewellers. Aditi

Kare Panandiker and Sandeep Bambolkar of Indoco Remedies.

There were also interesting business sessions on finance for business which had the experts from banks. Gautam Thakur of Saraswat Bank Anand Devidas Taggarsi CGM from SVC Bank, Santosh Borkar DGM of NKGSB Bank and the finance expert CA Amit Pandith, while the session was moderated by CA M N Pai from Mangalore.

The second session on building value in the business had entrepreneurs like Aditi Kare Panandikar from Indoco Remedies, Jagmohan Kaul VeriSpring Group, Devendra Parulekar of Saffron Stays, Shekar Sardessai of Kineco and was moderated by Amit Rangnekar of Centaur Labs.

CA Siddharth Sinkar, chief of the Global Saraswat Chamber, shared about the upcoming initiatives for the members of the chamber.

Vote of thanks was proposed by Pravin Kakode. The conclave was compered by Mohit Bhende and Vathika Pai

Saraswat Entrepreneurs from across India and the globe converged in Goa for their annual conclave to create business networking opportunities

Industry stalwarts from the Saraswat community along with Former Union Minister, Suresh Prabhu

Directors of Global Saraswat Chamber during the cake cutting

Anand Devidas Taggarsi (Chief General Manager - HRM, Admin., Procurement, Premises & Development SVC Co-operative Bank Ltd.); Gautam Thakur, Chairman Saraswat Bank; CA M N Pai, Moderator; Santosh Borkar - Dy. General Manager, NKGSB Bank; CA Amit Pamdit, founder-FinRisk Doctor/Director- Trugrow

Finvest Services Pvt. Ltd.

Rethinking and Recalibrating Tourism

As we herald World Tourism Day on 27th Sept this year, tourism remains one of the world’s largest industries and the economies of many countries are driven by their tourism sector. It is also a wide-ranging industry, including hospitality, transportation, travel (e.g., tour operators, travel agents, tourist information centres) and attractions and entertainment like heritage sites and theme, national, and wildlife parks. In recent years, tourism has expanded even further to include sectors that take into consideration the changing demands of travellers – such as personalisation of experiences, as well as global prerogatives on sustainability, mobility, etc; Hence, the rise of eco tourism and rural tourism.

Needless to say, many tourism businesses have struggled to keep pace with changing consumer preferences post pandemic. In particular, many tourism SMEs were not able to integrate new digital capabilities in the way that larger businesses have, mainly due to low levels of digitisation. As tourism-related businesses reopen, and recalibrate their offerings, managing their recovery will be important. For governments as well as organisations that promote tourism as a driver of economic growth, inclusive development and environmental sustainability; such as United Nations World Tourism Organisation (UNWTO).

Playing a key role in this revival will be startups with TourismTech Solutions. Technology has been a key driver of various other sectors, helping propel reach and impact. Now, as tourism opens its doors wider than ever, post pandemic, technological innovations will again play a role in boosting the industry.

Tourism has the potential to promote faster, more

sustainable and more inclusive growth, while at the same time advocating for cleaner, greener travel practises.

Forum for Innovation, Incubation, Research and Entrepreneurship (FiiRE), with its vision to make Goa the most preferred Tourism Tech startup destination by 2030, recognises tourism’s critical role in boosting the economy through rethinking, replanning and reviving tourism. Having launched the Goa tourism accelerator program in 2021 to identify and incubate startups with solutions to the tourism sector, FiiRE Goa has further empowered itself with collaborations with organisations and industry experts that will benefit TourismTech entrepreneurs.

Tourism Innovation Global Summit 2022 and FiiRE FiiRE Goa will be one of the leading organisations in TourismTech, who will be participating in the Tourism Innovation Global Summit with a keynote speech, outlining its strategy to accelerate startups that use technology to improve the tourism industry for travellers, suppliers and the environment. This agreement demonstrates FiiRE Goa’s commitment to the main objectives of the forum, which is focused on the digital transformation of tourism companies, accelerating their sustainable goals and promoting a more inclusive sector. This partnership will help weave synergies and

boost innovation in tourism, to help the world rethink, and reactivate the tourism sector globally.

The Tourism Innovation Summit (TIS) 2022 and FiiRE entered into a partnership this September, where FiiRE will define its plan to accelerate startups and leverage technology to enhance the industry for customers, agents, and the environment. FiiRE’s partnership with TIS will encourage connections and foster innovation in the travel industry globally. With The Tourism Innovation Summit’s mission to transform the tourism sector through innovation, technology and sustainability, FiiRE aims to be an ecosystem enabler, guiding companies on how to transform their businesses and become competitive in the tourism space.

FiiRE has the distinction of many more partnerships that hold immense promise.

Big Blue Road India (BBRi), a specialist in Travel and Tourism and Technology is an organisation that provides sharp business, program and portfolio strategies in the tourism sector. Their recent global strategic partnership with FiiRE will combine FiiRE’s rich experience with start-up incubation and BBRi’s

industry leading consulting services in the field of tourism, tourism analytics and tourism technology.

Projects that can transform the tourism sector through technology and sustainability will be the need of the hour as global tourism starts getting back on its feet. At FiiRE, CleanTech, Waste Management, and Sustainable tourism are all aspects that they believe which will bring about transformation in the way a traveler’s experience gets enhanced.

FiiRE’s role in encouraging entrepreneurship in TourismTech extends to providing them access to corporates, government bodies, technology, mentorship and investments. By doing so, they aim to encourage TourismTech solutions with the long-term vision of positively impacting the way travellers experience vacation destinations. Through various programs initiated at FiiRE, startups can take advantage of accelerating programs to help them boost their startup.

On the occasion of the upcoming World Tourism Day, FiiRE announced a contest for students, encouraging them to rethink tourism in Goa, and represent it through a medium that they understand best - Instagram. This contest is a visual depiction of what it means to build a clean, green Goa for ourselves and visitors to our state.

FiiRE Goa’s objective with these programs is to create a vibrant platform to help build the TourismTech ecosystem in Goa.

As we approach, World Tourism Day 2022, the focus remains on recognising the fact that tourism is a crucial pillar of economic development in Goa and supporting a community of tech innovations will help us move ahead as we together, rethink tourism

As Goa celebrates World Tourism Day, Forum for Innovation, Incubation, Research and Entrepreneurship (FiiRE) announces different programs to create a vibrant platform to help build the ‘TourismTech’ ecosystem in Goa

FORUM FOR INNOVATION, INCUBATION, RESEARCH & ENTREPRENEURSHIP (FIIRE)

TECHNOLOGY FiiRE Goa will be one of the leading organisations in TourismTech, who will be participating in the Tourism Innovation Global Summit

BITS PILANI, K K BIRLA GOA CAMPUS HOLDS CONVOCATION 2022

The Convocation 2022 was held in the auditorium of BITS Pilani, K K Birla Goa Campus. Dr. Rajesh S. Gokhale, Secretary, Department of Biotechnology, Government of India was the Chief Guest for the Convocation. Dr. Kumar Mangalam Birla, Chancellor, BITS Pilani; Dilip Gaur, Member of the Board of Governors; Prof. Souvik Bhattacharyya, Vice-Chancellor, BITS Pilani; Prof. Suman Kundu, Director, BITS Pilani, Goa Campus; Prof. Sudhir Kumar Barai, Director, BITS Pilani, Pilani Campus; Faculty and staff members of Goa campus and several distinguished guests, along with the graduating students and their family members were present. In his convocation address, Dr. Rajesh Gokhale lauded BITS Pilani University as a veritable center of innovation, research and entrepreneurial energy. In his address, Dr. Kumar Mangalam Birla, Chancellor of BITS Pilani University, pointed out that the pandemic has opened up opportunities for innovation in technology and science.

Prof. Souvik Bhattacharyya, the Vice-Chancellor of BITS Pilani University, presented an overview of the University’s

accomplishments, and in particular, highlighted its pioneering role in fostering innovation and entrepreneurship in higher education.

The medal winners from the Bachelor’s degree programs include: Jagtap Nishant Nanasaheb (Gold Medal), Yash Joshi (Silver Medal) and Aryan Sanjay Ochani (Bronze Medal). This year 1029 students were declared eligible to receive their degree, of which 36 were Doctoral degree, 157 were ME, 4 were MPhil, 593 were BE and 239 were MSc.

The recipients of the Distinguished Alumnus Award are Prof. Sameer Sonkusale (Professor, Tufts University), Prof. Nasir Memon (Vice- Dean, New York University), Prof. Kartik Hosanagar (Professor, Wharton School) Prof. Arul Jayaraman (Professor, Texas A&M University), Pramad Jandhyala (Co-Founder, Latent

View Analytics), J. C. Chaudhry (Chairman, Aakash Educational Services), Bhuvan Gupta (Cofounder of two unicorns), Dr. Jagadeesh Babu Rangisetty (Founder & CEO, Biophore India Pharmaceuticals), Samay Kohli (Co-founder, GreyOrange), Akash Gupta (Chief Technology Officer, GreyOrange), Dr. Thampy Thomas (Entrepreneur), Sushil Kumar Roongta (Chairman, BALCO), Vivek Paul (Adjunct Professor, Stanford University), Dr. Vikram Sampath (Writer & Historian), Prof. T.N. Vijay Kumar (Professor, Purdue University), Prof. Padmanabhan Seshaiyer (Professor, George Mason University), Prof. Malla Raghava Rao (Deputy Chief, National Institute of Health, Bethesda), Nandan Reddy (Co-founder, Swiggy), Diaz Nesomoney (Founder & CEO, Jivox), Sriharsha Majety (Cofounder, Swiggy), Abhinav Asthana (Co-founder & CEO,

Postman), Abhijit Kane (Cofounder, Postman), T.M. Vijay Bhaskar (Chairman, Second Karnataka Administrative Reforms Commission), Sukumar Ranganathan (Editorin-chief, Hindustan Times), Ranjan Kumar Mohapatra (Director, Human Resources, Indian Oil Corporation), Ramkripa Ananthan (Chief of Design, Mahindra & Mahindra), Pratik Pota (CEO, Jubilant Foodworks), Prof. Madan Pillutla (Professor, London Business School), Prof. Milind Tambe (Gordon Mckay Professor, Harvard University), Prof. Krishnan Balasubramanian (Emeritus Professor, Arizona State University), Prof. Gerard George (Dean, Lee Kong Chian Business School), Prof. Aditya P. Mathur (Emeritus Professor, Purdue University), Jayan Raman Kutty (Co-founder, KRK Ventures), Rakesh Verma (Co-Founder, MapmyIndia), Sunil Nanda (Founder, Pilani Atmanirbhar Resource Centre), Anurag Jain (Managing Partner, Perot Jain), Subhash Malhotra (CEO & Founder, Claridge Homes), Revathi Advaithi (CEO, Flex), and Kishore Rajvanshy (Managing Director, Fleet Management)

MUSIC MAESTROS SHUBHA MUDGAL AND DR. ANEESH PRADHAN ENGAGE WITH B-SCHOOL STUDENTS OF GIM AS A PART OF A SPECIAL SERIES

In an enlightening and riveting series of events, renowned classical singer and Padma Shri awardee Shubha Mudgal and tabla maestro Dr. Aneesh Pradhan engaged in an interaction with students and faculty of one of the country’s premier B-schools, Goa Institute of Management (GIM), as part of the institute’s ‘Distinguished Visiting Scholars’ programme.

As part of this initiative, the management students, faculty, Goa’s folk artistes and the music maestros discussed strategies on mainstreaming Goa’s traditional percussion musical instrument – the Ghumat.

Ajit Parulekar, Director of GIM said “We are focused on creating socially responsible business leaders of tomorrow. Our institutional values have been built around ethics, values, and corporate governance. This is truly a great learning experience for students.”

Professor Divya Singhal,

who has an active interest in the field of arts and music, leads the Music and Management initiative at the institute. She says, “Events like these ensure that GIM students are allowed an outlet to express their creativity and include empathy in their professional lives.”

During the session,

‘Mainstreaming the Ghumat: A hackathon to discuss future strategies for the instrument and its practitioners’, Shubha Mudgal and Dr. Aneesh Pradhan, faculty and students deliberated on the challenges and nuances of the Ghumat.

During his address, Aneesh Pradhan said, “As we all know, Ghumat is an integral part of the world of Indian music. Its distinct sound can be identified easily and is loved by many.”

The students at GIM presented the introduction, context, and problems of Goa’s traditional musical instrument Ghumat and suggested solutions in teams

Dr Aneesh Pradhan and Shubha Mudgal

Kumar Mangalam Birla (2nd from right) with faculty and silver medalist Yash Joshi, at the convocation

AUTHOR: LIZ WISEMAN PUBLISHER: HARPER COLLINS

MULTIPLIERS

HOW THE BEST LEADERS MAKE EVERYONE SMART

to do more with less. In this engaging and highly practical book, leadership expert Liz Wiseman explores these two leadership styles, persuasively showing how Multipliers can have a resoundingly positive and profitable effect on organizations – getting more done with fewer resources, developing and attracting talent and cultivating new ideas and energy to drive organizational change and innovation.

A revised and updated edition of the acclaimed Wall Street Journal bestseller that explores why some leaders drain capability and intelligence from their teams while others amplify it to produce better results.

Everyone has had experience with two dramatically different types of leaders. The first type drains intelligence, energy and capability from the people around them and always needs to be the smartest person in the room.

On the other side of the spectrum are leaders who use their intelligence to amplify the smarts and capabilities of the people around them. When these leaders walk into a room, light bulbs go off over people’s heads; ideas flow and problems get solved. These are the leaders who inspire employees to stretch themselves to deliver results that surpass expectations. These are the ‘Multipliers’. And the world needs more of them, especially now when leaders are expected

In analyzing data from more than 150 leaders, Wiseman has identified five disciplines that distinguish Multipliers from Diminishers. These five disciplines are not based on innate talent; indeed, they are skills and practices that everyone can learn to use – even lifelong and recalcitrant Diminishers. Lively, realworld case studies and practical tips and techniques bring to life each of these principles, showing you how to become a Multiplier too, whether you are a new or an experienced manager. This revered classic has been updated with new examples of Multipliers, as well as two new chapters one on accidental Diminishers and one on how to deal with Diminishers.

Liz Wiseman is a researcher, executive advisor and speaker who teaches leaders around the world. She is a former executive and the author of the bestselling books Multipliers: How the Best Leaders Make Everyone Smarter and The Multiplier Effect: Tapping the Genius inside Our Schools.

Liz has been listed on the Thinkers50 ranking and named as ‘one of the top ten leadership thinkers’ in the world

Liz Wiseman

Umang Group announces new venture, Future Ready Tech Events

Umang Group has announced its new venture, ‘Future Ready’ Tech Events Startup on the auspicious day of Ganesh Chaturthi. Future Ready Tech Events is focused on organizing Tech Summits, Knowledge Sessions, Business Networking Meets, Tech Seminars and Webinars for technology enthusiasts worldwide.

Mangirish Salelkar, CEO and Co-Founder of Umang Group said, “Technology runs our lives these days. With the lightning speed of technological evolution, it is no wonder many people have struggled to keep up. Future Ready will introduce the technology world in a fresh and unique way which easily helps you to connect

with Global tech leaders and enthusiasts”.

Chief Minister of Goa, Dr. Pramod Sawant has extended support to ‘Future Ready’ in organising a Global Technology Summit “Hello, World!” to be held on 28th October. The summit is planned for 800+ IT entrepreneurs, professionals and students pan-India.

International speakers and representatives from various Trade Bodies worldwide will be part of this virtual event.

“Stay Tuned to experience Tech Events which will help IT businesses and professionals to get global exposure. Industry stalwarts from America, Europe and Australia are happy to connect with Indian

IT companies and startups to collaborate and share their experiences,” says Salelkar, a well known technology leader from the state.

Umang Group is India’s technology focused group of companies. The group has so far ventured into IT software exports, digital branding and co-working spaces. The aim is to diversify and explore more opportunities in the technology industry. The growth of all companies has been organic and focused on generating strong business cash flows, capital discipline, proactive liability management and maintaining a strong balance sheet.

For more info www.frtechevents. com

Parvish Andani Kamat launches first eTechSkill Academy

eTechSkill Academy by Parvish Andani Kamat, an online and in person centre at Miramar, Panaji was launched at the hands of Rohan Khaunte, Minister of Information and Technology. It was also the birth anniversary of Parvish’s late mother, Kulsum Andani.

Rohan Khaunte stated that his department was looking to promote digital services especially in remote areas and rural segments of society for economic benefits.

Parvish would like to connect with more colleges and academic institutions and offer short-term courses and have Goa’s professionals and students be well prepared for careers. She also mentioned that training will be done in English, Konkani and Hindi.

Parvish is an advertising, marketing and media professional for more than two decades. eTechSkill Academy is in hybrid format, online and off line. At eTechSkill Academy learners experience modules like:

1. Upskilling Courses

2. Tech at 40+ and Senior’ Citizens

3. Digital Marketing Modules

4. LinkedIn Courses

5. Study Academic Tours to

Dubai and Singapore for Goa based students/colleges.

6. Technology Course like Amazon Web Services eTechSkill Academy has impacted with over 500 learners already!

SHORT TERM COURSES:

1. Tech at 40+ and Senior Citizens

- Instagram for business

- 10 Steps to safeguard your banking

- 5 Day LinkedIn Masterclass

2. Digital Marketing Modules for job seekers and students

3. Digital Marketing Advanced Modules

4. LinkedIn Courses, separate

batches for professionals and Business Owners.

5. Study Academic Tours to Dubai and Singapore for Goa based students / colleges. Dempo College was the first to tie up with them in February 2020 for Dubai.

Parvish’s experience stretches from local SMEs to international companies. She has excelled in managing multi-dimensional projects concurrently with strong detail, problem solving and follow-through capabilities. She completed her post graduation in advertising and marketing from the award winning Xavier Institute of Communications,

Mumbai.

Her career at The Times of India gave her a strong insight into the media world. This unique blend of experience and educational background has prepared her as a marketer of 21st century.

Besides, she is honest, hardworking, self-motivated, a team player and possesses leadership qualities.

In 2012, she was awarded a full scholarship in MBA from ISB Hyderabad under Goldman Sachs 10,000 women program. It fosters economic growth by providing women entrepreneurs, with significant turnover business and management education.

In April 2019, she was certified Trainer by Bodhih Training Solutions Pvt Ltd. In 2022, she was again awarded a full scholarship, after achieving significant business turnover, by GS10,000 Women Ambassadors Program.

Parvish is a member of Goa Chamber of Commerce and Industry, Goa State Industries Association, Goa Management Association, Confederation of India Industry and was CII-IWN’s (Indian Women Network) launch Chairperson for the Goa Council

Rohan Khaunte, Minister of Information and Technology, launching eTechSkill Academy by Parvish Andani Kamat an online and in person centre at Miramar. Also seen in the pic are her chidren Malaika and Abhir

Mangirish Salelkar with Chief Minister Dr Pramod Sawant

Statewide India @75 School Quiz

Business Goa Media Group’s knowledge initiative for school students

Bis organising a state-wide ‘India at 75 School Quiz’ across all Talukas in Goa. The idea behind the quiz is to get a maximum number of students to participate in each taluka. The unique aspect of this quiz is that schools can send as many teams as they wish to. The teams will consist of two students from the same school. There will be a written round from which six teams will qualify for an on-stage Taluka final. The Taluka winner will compete for the State semi-finals which will be of six teams each. From there three teams (from each semi-final) will qualify for the State finals. The Quiz is open for school students reading in STd 7th to Std 10th. Schools have been encouraged to send

this unique quiz.

There are only two levels for the quiz, written round and on-stage final at the Taluka level. Every participant will get a certificate of participation which will be handed over after the final event has concluded. Rotary Clubs across the State have lent their support to this knowledge initiative and to facilitate the hosting in each taluka.

The Quizmaster is Rajiv D’Silva, co-founder of SEQC and winner of numerous quiz titles like Tata Crucible Corporate Quiz, The Economic Times Brand Equity Quiz, WizBiz by Goa Institute of Management, among others.

While speaking on the sidelines of the event, the

Bhatkuly says, “This is a unique opportunity for school students from across Goa, especially the hinterlands, to display their talent and knowledge about India’s current affairs, culture, art, literature, ethos, politics and with a special focus on the freedom movement. As India celebrates 75 years of Independence we thought this exercise will be of great importance to youngsters to respect and look at the history of India’s struggle to achieve Independence.”

India at 75 School Quiz is supported by the presenting patron Maria Crescencia Menezes Memorial Educational Trust. The event is powered by ASG Eye Hospitals, Padma Bhushan Dr Ajai Chowdhry,

(Shivanand Salgaocar Group), Paradeep Phosphates Limited, Deccan – Fine Chemicals (India) Pvt Ltd, Dempo Group, Big Banner Entertainment and Media LLP and Hotel Calangute Towers. The Banking Partner is Union Bank of India along with Corporation Bank and Andhra Bank. The Corporate Partners are Pai Kane Group, LPK Waterfront, Bhatkuly Ventures, Broadway Book Centre, Real Group of Companies. The Institutional Partners of the Quiz are Goa Chamber of Commerce and Industry and Goa Management Association.

The TV Channel Partner is Prime Media Goa while the Magazine Partners are Business Goa and My Goa. Palash Agni Studios is the video partner

The first set of the state-wide India at 75 School Quiz kicked off from Bicholim for two Talukas, i.e. Bicholim and Sattari on 10th September at Keshav Sadhana School, in Sarvane.

The event saw participation from around 50 teams, out of which six teams qualified for the on-stage finals.

The six teams which qualified from Bicholim were Ruhi Garde and Ovee Naik from Ideal High School; Nishma Insulkar and Nilesh Kudaskar from Vijayanand High School; Amogh Savaikar and Durva Kanekar from Dr. K.B. Hedgewar Vidyamandir; Soham Patkar and Rudresh Gawas from Ideal High School; Yashni Parab and Susaj Naik from Shri Shantadurga High

School, and Sreyan Dhatkar and Samit Sahani from Ideal High School.

After six grueling rounds of quizzing, Amogh Savaikar and Durva Kanekar from Dr. K.B. Hegdewar Vidyamandir,

Mataaf and Muzakir of Our Lady of Lourdes High School, Valpoi win Sattari Round

Bicholim emerged winners.

The winners were given a certificate at the hands of Rtn Durgesh Karapurkar, (President, Rotary Club of Bicholim) in the presence of Rtn. Damodar Prabhu

(Treasurer, Rotary Club of Bicholim), Rtn. Sargam Falari (President Elect, Rotary Club of Bicholim), Harshvardhan Bhatkuly, (Editor, Business Goa) and Rajiv D’Silva (Quiz Master)

Alston and Joshua of St. Thomas Boys High School, Aldona win Bardez Round

The first set of the All-Goa India at 75 School Quiz kicked off from Bicholim for two Talukas, i.e. Bicholim and Sattari on 10th September at Keshav Sadhana School, in Sarvane. The event saw participation from around 50 teams out of which six teams qualified for the on-stage finals. The six teams who qualified from Sattari were Tassawoor Sayyed and Vedant J Kerkar from Vivekanand Dnyan Mandir High School; Kaushal Majik and Subrao Tinyekar from Shri Bhumika High School; Alicia Job and Ariz Shaikh from Our Lady of Lourdes High School; Durva Ranesardesai and Vidika Rane from Shri Bhumika High School; Mataaf Mukadam and Muzakir Khan from Our Lady of Lourdes High School; and

Purvi Thakur and Rutba Beigh from Unity High School. A notable mention was made of Madhura Joshi and Yogesh Kulkarni from Shri Hanuman Vidyalaya who lost out in the written round.

After six rounds of intense quizzing, Mataaf Mukadam and Muzakir Khan from Our Lady of Lourdes High School, Valpoi emerged winners.

The winners were given a certificate at the hands of Rtn Durgesh Karapurkar, (President, Rotary Club of Bicholim) in the presence of Yogesh Arora, (Head HR, Admin & CSR, Deccan Fine Chemicals Pvt Ltd), Harshvardhan Bhatkuly, (Editor, Business Goa) and Rajiv D’Silva (Quiz Master)

The second set of the All-Goa India at 75 School Quiz was held for Bardez Taluka on 15th September 2022 at Hotel Mayura Novacity, Mapusa. The event saw participation from around 60 teams out of which six teams qualified for the onstage finals.

The six teams that qualified from Bardez were Arush Rane and Adarsh Chodankar from G.S Amonkar Vidya Mandir; Soham Dabholkar and Maithili Gauns from G.S Amonkar Vidya Mandir; Joshua Fernandes and Alston Abreu from St. Thomas Boys’ High School; Shainee Kamat and Sufiyan Ahmed from Jnyan Vikas School; Shreyash Parvatkar and Ved Gawade from Dr. Samant High School; and Saikumar Undikitti and

Vedant Khetmalis from L.D. Samant Memorial High School. Sachika Thakur and Sadhavi Padelkar from St. Thomas Girls High School along with Ved Narvekar and Suraj Gad from Dnyanprassarak Vidyalaya were notable mentions who lost out in the written round.

After six rounds on-stage, Joshua Fernandes and Alston Abreu from St. Thomas Boys High School, Aldona won the quiz hands down. The winners were handed a certificate at the hands of Rtn Pratik Pilankar, (President, Rotary Club Mhapsa Millenials) in the presence of Rtn. Ajay Menon (District Grant Sub-Committee Chairman, Rotary District 3170), Harshvardhan Bhatkuly, (Editor, Business Goa) and Rajiv D’Silva (Quiz Master)

Amogh and Durva of Dr. K.B. Hedgewar Vidyamandir, Bicholim win Bicholim Round

Winners of the Bicholim Taluka Round Amogh Savaikar and Durva Kanekar from Dr K B Hedgewar Vidyamandir, Bicholim; (L to R) Harshvardhan Bhatkuly, Rtn Durgesh Karapurkar, Amogh Savaikar, Durva Kanekar, Rajiv D’Silva, Rtn Damodar Prabhu and Rtn Sargam Falari

Winners of the Sattari Taluka Round Mataaf Mukadam and Muzakir Khan from Our Lady of Lourdes High School, Valpoi; (L to R) Harshvardhan Bhatkuly,Rtn Durgesh Karapurkar, Mataaf Mukadam, Muzakir Khan, Yogesh Arora and Rajiv D’Silva

Winners of the Bardez Taluka Round Alston Abreu and Joshua Fernandes from St Thomas Boys High School, Aldona; (L to R) Harshvardhan Bhatkuly, Rtn Ajay Menon, Alston Abreu, Joshua Fernandes, Pratik Pilankar and Rajiv D’Silva

Two-Day Capacity Building Programme for CGST (Audit) Commissionerate, Goa on Accounting aspects related to GST

CII Indian Women Network (IWN) Goa inks MoU with Goa Police

The Institute of Chartered Accountants of India (ICAI) organised a two-day capacity building programme on accounting aspects related to GST as an outreach event for the capacity building of the officials of the CGST (Audit) Commissionerate at Goa.

The programme was inaugurated by V Soundararajan, Commissioner (Audit) CGST, who appreciated the efforts of the ICAI in organising the training programme and encouraged the officials of his Commissionerate to derive maximum benefit out of the deliberations and hone their skills in accounting aspects related to GST. The topics included in the capacity building programme were basic concepts of accountancy, preparation of final accounts,

analysis of financial statements with GST perspective etc.

CA. Rajendra Kumar P, Chairman of GST and Indirect Taxes Committee of ICAI said that the Capacity Building Programme would go a long way in strengthening the skills and abilities of the officials of the CGST (Audit) Commissionerate, Goa and will enhance the efficiency and working of the tax administration, which will in turn be beneficial for the taxpayers.

CA. Purushottamlal Hukamichand Khandelwal, Central Council Member, ICAI apprised that ICAI, through its GST & Indirect Taxes Committee, supports the Government and public sector units in capacity building of their officials in GST and

CII Indian Women Network (IWN) Goa signed an MoU with Goa Police. The objective is to empower the Women Police Force in Goa, create awareness and to address various issues faced by women in their personal and professional careers. Through this initiative, CII IWN aims to enhance capability, core domain and quality for women at their workplace. CII IWN will facilitate faculty experts to address and deal with stress management, financial literacy, mental health, etc. to enlighten, guide and upskill the women workforce. Jaspal Singh IPS, Director General Goa Police, during the interaction, extended support to the industry in cyber

accounting aspects related to GST.

Also present at the inauguration were CA. Gaurav

crime, substance abuse and other such topics. The MoU was signed in the presence of Jaspal Singh IPS, Director General of Police, Omvir Singh Bishnoi (IPS), Inspector General Of Police; Sudiksha S Naik, Police Inspector, Women PS Panaji; Maria Monserrate, Deputy Superintendent of Police, Women PS; Anti Human Trafficking Unit, Ms Reshma Shirodkar; Police Inspector, Pink Force; Sandhya Gupta, Police Inspector Anti Human Trafficking Unit (AHTU) Panaji; Sheetal Pai Kane, Chairperson, CII IWN Goa; Sonia Kuncalienker, Vice Chairperson, CII IWN Goa; and other members of CII IWN Goa Chapter

Kenkre, Chairman, Goa Branch of WIRC of ICAI and CA. Vaibhav D Bale, Secretary, Goa Branch of WIRC of ICAI

amã Stays & Trails Villa Siolim, Goa bags ‘Villa of The Year Award’

amã Stays & Trails Villa Siolim, Goa – a new concept of homestays from The Indian Hotels Company Limited (IHCL) has been recognised as ‘Villa of the Year’ by MakeMyTrip at the recently held India’s Favourite Homestays Awards (IFHA) at Taj Resort & Convention Centre in Dona Paula. The IFHA is a people’s choice award to recognise and reward the growing community of homestays hosted in the domestic travel market.

Speaking on the occasion, Vincent Ramos, Senior Vice President – Goa for IHCL said, “We are humbled and honoured to receive this prestigious recognition. The homestay segment has indeed picked

momentum post the pandemic with a strong preference for private stays and locally imbibed experiences. amã Stays & Trails is India’s first branded product in the home stay market, we currently have nine villas in Goa and are working towards expanding the brand in the state with new additions to the portfolio.” Built in the 1940s,

Villa Siolim is located in North Goa, in the pristine village of Siolim. A charming five bedroom villa, that combines Goan-Portuguese architecture of a bygone era, and modern comforts to provide a homelike indulgence. Surrounded by manicured lawns, paved walkways and slanted red tiled roofs with exposed beam

ceilings, this magnificent marvel welcomes its guests at a latticed veranda. Wooden doors, arches, and vintage tiles complement the contemporary amenities while modish decor and chic furnishings create a comforting space.

Additionally, amã Stays & Trails Amibika Vilas, Trivandrum in Kerala won ‘Heritage Homestay of the Year’. To be held annually, the IFHA is India’s first traveller choice award exclusively conceptualised for homestay properties and hosted by MakeMyTrip, a pioneer in India’s online travel industry. The awardee is chosen through a combination of jury assessment and consumer votes

Sheetal Pai Kane of CII Indian Women Network Goa inks MoU with Jaspal Singh (IPS) of Goa Police

Vincent Ramos, Senior Vice President - Goa (third from left) receiving ‘Villa of the Year’ Award for amã Stays & Trails Villa Siolim, Goa

GSL LAUNCHES INDIGENOUS 2000 LPG CYLINDER CARRIER VESSEL FOR UNION TERRITORY OF LAKSHADWEEP ADMINISTRATION

Goa Shipyard Limited (GSL) launched the indigenous LPG Cylinder Carrier Vessel for Union Territory of Lakshadweep at the hands of Cynthia Conceicao, senior most lady employee of GSL, in the distinguished presence of Brajesh Kumar Upadhyay, Chairman and Managing Director; Capt Jagmohan, Director (CPP&BD); customer representatives, and senior officials from GSL.

Developed and designed by GSL as a Twin Screw Vessel for carrying 2000 nos. LPG Cylinders from main land to various islands of Lakshadweep, this one of its kind vessel is equipped with most modern and technologically advanced machinery and controls systems. The vessel is built with an efficient hull form for stability and sea-keeping purpose as per IRS classification rules, meeting the IMO regulations and Flag state requirements.

The overall length of the

vessel is 55 meters with beam of 10 meters and is equipped with three DG sets and two 700 BHP engines.

It is noteworthy that GSL has bagged the contract of these 2 vessels amid stiff competition from both public and private yards, which strengthens GSL’s competitiveness into diversified non-defence sector shipbuilding, besides its pole position as defence shipbuilder executing prestigious warship projects.

On the occasion, Brajesh Kumar Upadhyay, CMD GSL said “The launch of LPG

“The launch of LPG Cylinder Carrier Vessel is a major achievement for GSL as far as product diversification in non-defence sector is concerned. Despite the challenges faced due to covid-19 pandemic in last two years, it is satisfying that we will be able to deliver this ship within next few months abiding with the agreed timelines”

BRAJESH KUMAR UPADHYAY Chairman and Managing Director

Cylinder Carrier Vessel is a major achievement for GSL as

GOA TECHNOLOGY ASSOCIATION HOSTS ITS 5TH AGM

far as product diversification in non-defence sector is concerned. Despite the challenges faced due to covid-19 pandemic in last two years, it is satisfying that we will be able to deliver this ship abiding next few months abiding with the agreed timelines. The followon ship will also be launched in coming months. I also extend my sincere thanks to our Lakshadweep administration and their representative SCI, for supporting GSL during the project execution”

The President also announced that the Annual Awards night will be held in November this year, followed by the International IT summit in the first quarter of next year. Knowledge-based workshops are also lined up for the industry CXOs, professionals and students.

The Fifth Annual General Body Meeting of the Goa Technology Association (GTA) was attended by its members from various IT/ITES companies and technology startups. After the last two virtual AGMs, members expressed their happiness in meeting face to face and networking during the physical AGM this year.

GTA Secretary, Rohan Warty coordinated the proceedings and presented the annual report of the association highlighting the various activities and initiatives of the

association. Treasurer, Gajanan Kerkar presented the statement of accounts for the year 202122. GTA President, Milind Anvekar while welcoming the members and highlighted the current challenges and opportunities for the industry and presented the roadmap for the next eight months.

The industry challenges include shortage of skilled manpower in Goa, lack of infrastructure – mainly lack of co-working spaces and the options for expansion for companies in Goa, data

security concerns with the data that the companies are asked to submit as part of registration with DoIT and the delay in providing policy benefits to eligible companies and startups. Anvekar highlighted the growing opportunities in the global market, post the pandemic and how some companies from Goa are making their mark globally. He also stressed on the role of media in ensuring that Goa and the Government of Goa takes note of the work being done by IT companies in Goa.

During a very active and interactive Q&A session, members expressed their unhappiness over exclusion of the GTA, which is the only industry body from the IT Advisory Board constituted by the Government of Goa. Allotment of Government work to non-Goan companies bypassing the process was also highlighted during this meeting. Various options to collaborate and share professional services were also discussed during the AGM. Vice President of GTA, Sujeet Shetty proposed the vote of thanks

Brajesh Kumar Upadhyay

Rolling the Red Carpet for Investors in Goa

The Goa Chamber of Commerce and Industry (GCCI), in collaboration with the Government of Goa, FICCI, and Invest India, are organising the ‘Invest Goa Summit 2022’ on Friday, 7th October 2022 at Taleigao Community Centre, Panjim, Goa.

The event aims to provide a strong boost for potential investors to look at ‘Goa’ as a lucrative investment destination and realise the vision of the Prime Minister of ‘Atmanirbhar Bharat’ and initiative of Goa’s Chief Minister, ‘Swayampurana Goa 2.0’.

Invest Goa 2022 aims to establish a direct connect with key stakeholders and reduce procedural delays that hamper the growth of various sectors.

The event will focus on certain key sectors belonging to the green industry which are not energy intensive such as IT/ITES/electronics, logistics, startups and R&D centres, agro and food processing, tourism and allied sectors, education and entertainment.

Why Goa?

A question posed by many investors the reasons to invest

in Goa are plenty, apart from it being the most preferred tourist destination in India. Goa is home to 23 well-developed industrial estates offering robust infrastructural facilities along with enviable human development indices, highest literacy rate, and highest per capita income. The state has excellent road/rail/air and sea connectivity to the rest of India, and has potential to be a topnotch logistics hub on the west coast with two airports and one major seaport. Goa already has established manufacturing, light and engineering industries, pharmaceutical, bio-technology, IT and ITES, and shipbuilding sectors. The emerging sectors in Goa today

are logistics, agro and marine food processing, startups and R&D, tourism, education hubs and entertainment.

In the run-up to the Invest Goa 22 event, members of the GCCI along with the state’s Industries Minister, Mauvin Godinho and other State Government officials, are busy touring states to showcase Goa as a potential business destination.

Besides one-to-one business meetings and video conferences to promote the event, so far, the GCCI delegation has visited Belgaum Chamber of Commerce, Bellary Chamber of Commerce, and Federation of Karnataka Chamber of Commerce and Industry,

“Investors and investments will generate employment in Goa and take our state to greater heights by generating revenue. Generating employment has a cascading effect in which everyone benefits right up from small shopkeepers to large business houses. Every industry is benefited and most importantly our youth can avail of these opportunities without having to leave their homes”

Bengaluru.

Recently, a road show was conducted at the World Trade Centre in Mumbai and was followed by a road show in Gujarat where the delegation met up with businessmen in Ahmadabad.

Manguirish Pai Raiker, ASSOCHAM, National Council for MSME, one of the masterminds of this initiative said that Goa has the infrastructure, potential and opportunities to attract investments. Raiker feels that Goa should offer opportunities for youth, as many youngsters after graduating from college leave the state for greener pastures. “Investors and investments will generate employment in Goa and take our state to greater heights by generating revenue. Generating employment has a cascading effect in which everyone benefits right up from small shopkeepers to large business houses. Every industry is benefited and most importantly our youth can avail of these opportunities without having to leave their homes,” he says.

Having held a similar summit around ten years back,

As Goa gears up for the Invest Goa Summit 2022, road shows are being held across different states with a delegation from GCCI and Government representatives to woo investors to the sunshine state, writes SYBIL RODRIGUES

President of GCCI, Ralph de Sousa makes a presentation. Sitting (L- R) Sanjay Amonkar, Director General, GCCI; Manguirish N Pai Raiker, Past President, GCCI; Dr Vijay Kalantri, Chairman, WTC Mumbai; Mauvin Godinho, Minister for Industries, Government of Goa; Lalit Gandhi, Maharashtra Chamber of Commerce and Industry; and Rupa Nayak, Director WTC,Mumbai

Manguirish N Pai Raiker

Past President, GCCI

‘Invest Goa’ Road Show held in Mumbai and Gujarat

To promote Invest Goa ‘22 a road show was organised in World Trade Centre, Mumbai. This Road show was led by the Industries Minister, Mauvin Godinho. The other members included GCCI President, Ralph de Sousa, GCCI Past President, Manguirish Pai Raiker, Director General, Sanjay Amonkar, Member, Managing Committee, Ashutosh Kharangate, Rajkumar Kamat and Pratusha of Investment Promotion Board, Goa

This event was supported by World Trade Centre, Mumbai with their Chairman, Dr Vijay Kalantri and Director Rupa Nayak.

In his keynote address, Mauvin Godinho spelt out the various reforms carried out by the Government of Goa to bring in fresh investments. He informed that a single window clearance has been set up in IPB, and to compliment the same the Goa Investment Promotion Policy has been released. Goa has year round mild weather, sunny beaches and is steeped in bio diversity and natural beauty. Here the quality of life plays an important role for new investors. Goa has excellent network of highways, sea, rail and air connectivity and a brand new airport to augment the same.

With 88% literacy and highest per capita income, population fluent in English, Hindi and Konkani, competent technical manpower and a low cost of living index makes Goa a preferred destination for investors.

The state has already improved in EODB rankings and has earned about 59 reforms to decriminalise 29 State Acts he added.

The recently released Goa Industrial Growth and Investment Promotion Policy 2022 focuses on emerging sectors like logistics, niche

which focused on green energy, Raiker says this time around things are done differently by taking academicians of

tourism, IT/ITS, agro and food processing, pharma and biotech.

The Government is emphasising on Public-Private Partnership (PPP) mode to take up infrastructure projects. Special incentives are being given to industries with investments over 100 crores. The government is also proposing private land banks for potential investors

The Tourism Department, the Town and Country Planning Department and the Goa Pollution Control Board as well as the Municipal Administration have already come out with simplified procedures and Ease of Doing Business.

GCCI President Ralph de Sousa and Past President Manguirish Raiker emphasised on the fact that Goa is a pharma and light engineering manufacturing hub but there is capacity for more industries to come in.

Goa has strong infrastructure and the State Government is keen to promote industry. Various incentives have already been declared by the government and more are on the anvil.

There was an overwhelming response to the road show with many foreign consulates, trade missions, industrial associations, chambers and potential investors attending the same.

There was a Q&A session and networking after the event during which Godinho informed that two more road shows, will be held and already there is a lot of interest shown in the event. The Minister expressed confidence that many prospective investors will come to Goa.

The event was compered and hosted by Sanjay Amonkar Director General, Goa Chamber of Commerce and Industry.

Invest Goa Road Show in Gujarat

The Goa Chamber of Commerce and Industries (GCCI) in association with Gujarat Chamber of Commerce and Industry conducted a Road Show in Ahmedabad to promote Invest Goa 22. A team led by Industries Minister Mauvin Godinho along with Swetika Sachan, IAS, CEO, Goa Investment Promotion and Felicitation Board (GIPFB), Tulshidas Pai, OSD, GIPFB, Ralph de Souza, President GCCI, Mangirish Pai Raikar, Past President, GCCI and Sanjay Amonkar, Director General, GCCI. The prospective investors were also invited for the Goa Invest Summit. During this summit it was proposed to provide an opportunity to prospective investors to meet the decision taking authorities like ministers, secretaries and heads of various departments. A well attended event, it was supported by FICCI, Invest India and Ernst & Young. Godinho urged businesses from Gujarat to invest in Goa.

It was informed that in addition to six focus sectors identified, the investors are welcome to invest in any other sector suited for Goa. Swetika Sachan made a presentation on advantage Goa. President Ralph de Sousa and Manguirish Pai Raiker also spoke on the occasion. GCCI signed an MoU with Gujarat Chamber on this occasion

prestigious institutes on board to help identify skill sets and employability of the Goan youth. “We invited

academicians from Goa Institute of Management, BITS Pilani, IIT Goa, NIT Goa, Goa Engineering College,

Salgaocar Law College and Goa University. They undertook a study on the employability

L-R: Sanjay Amonkar, Pratyusha Jain - E & Y, Lalit Gandhi - Maharashtra Chamber, Manguirish Pai Raiker, Mauvin Godinho, Ralph de Sousa, Sandeep Sood, Ashutosh Kharangate, Ujjwala Singhania - FICCI, Rupa Nayak - World Trade Centre

Pathik Patwari, President Gujrat Chamber and Ralph de Sousa

Tax Implications on Sale of Immovable Property

The writer spells out a complete guide in respect of tax implications on sale of immovable property

Alarge number of property transactions take place in Goa. The Government has made special provisions to curb black money by levy of tax on the basis of stamp duty valuation, compulsory payment for property deals through account payee cheques and TDS on payments. Tax payers can also avail exemptions from payment of taxes on capital gains. This article gives complete guidance in respect of tax implications on sale of immovable property.

Under Income Tax Law, profit on sale of immovable property is called capital gains. If the property is owned and held for more than 24 months before date of sale, it is a ‘long term capital gain’ and ‘short term capital gain’ if the holding period is 24 months or less. The profit or gain on sale or transfer of an immovable property is the difference between consideration received on transfer of the immovable property and the amount spent on acquisition, improvement and expenditure incurred in connection with the transfer such as stamp duty, registration charges, lawyer’s fees, brokerage, etc.

When the property is acquired by way of gift, will or inheritance; the date and the cost of acquisition is the date and cost at which the previous owner had acquired the property.

The treatment for charging tax is different for long term and short term capital gains.

In case of short term capital gains, difference between sales consideration and cost of acquisition which includes cost related expenses, is added to his total income of the relevant year and tax is charged accordingly based on income slab. There are no exemptions for short term capital gains.

In case of long term capital gain, the tax payer has the benefit of Cost Inflation Index (CII) in respect of cost of acquisition and the amount spent on improvement. CII is provided to offset the inflation. The CII number is released by the tax authorities every year with base year in 2001-02 at 100. CII for the financial year 2022-23 is 331. This is on an ascending scale. If transfer of property is properly timed to get into next financial year, one can get better benefit. If property is transferred on or after 01.04.2023 instead on or before 31.03.2023, indexation benefit will be more.

The indexed cost of acquisition is arrived at with following formula:Cost of acquisition/ improvement x CII

Index of the year of transfer

CII of the year of acquisition/ improvement. The taxable long term capital gain is difference between sales consideration and indexed cost of acquisition and is charged to tax at concessional flat rate of tax @20%.

A tax payer can avoid or reduce his tax liability on long term capital gains in two ways which can be used simultaneously depending on the situation.

In case long term capital arises from sale of residential house, under section 54EC, it will be exempt if the capital gain amount (not sales consideration) is invested in the bonds of National Highway Authority of India or Rural Electrification Corporation Ltd within a period of six months after the date of sale. These bonds are redeemable after five years and carry low interest rate. The maximum amount that can be invested in these bonds is `50 lakhs. After availing the exemption, the tax payer has to retain these bonds for a minimum period of five years from the date of its acquisition. Even loan or advance on the security of these bonds should not be availed during this period.

In case long term capital gain arises from sale of residential house, under section 54, the tax payer also has an option to claim exemption by purchasing one new residential house within a period of one year before or two years after the date of sale or by constructing one new residential house in India within a period of three years after the date of sale. w.e.f. financial year 201920, in case the capital gain amount does not exceed `2 crores, a person at his option can purchase or construct two residential houses in India. If the option of purchasing or constructing two houses is exercised, it cannot be subsequently used in any other assessment year.

Quantum of exemption is the amount invested in new residential house or long term capital gains whichever is lower. Where the amount of capital gain is not utilised for acquisition of the new house before due date of furnishing the return income, the unutilised amount should be deposited in specified bank account under Capital Gains Accounts Scheme, 1988 and from this bank account, withdrawal should be made for purchase or construction of new house. The exemption will be lost if the new house is sold within three years.

In case of sale of immovable property

other than a residential house, the tax payer has two options to claim exemptions from long term capital gain. One option is to invest capital gain (not sales consideration) in Bonds u/s 54EC as stated above and second option is to purchase/ construct a new residential house u/s 54F.

Under section 54F a new house should be purchased within a period of one year before or two years after the date of sale of immovable property or construct one residential house in India within three years after date of sale. In case the net consideration is not utilised for purchase or construction of new residential house before due date of furnishing of return of income, it should be deposited in specified bank account under Capital Gain Account Scheme and the amount should be spent on acquisition/construction of new house from this bank account.

This exemption is subject to following conditions:-

a) On the date of sale of immovable property, the tax payer should not own more than one residential house;

b) He should not purchase within one year or construct within three years after that date any other residential house other than the new residential house;

Where only a part of the net consideration is invested in the new residential house, only then proportionate capital gain will be exempt.

After availing the exemption, the tax payer has to retain the new residential house for a minimum period of three years from the date of purchase or construction.

It should be noted that a special provision is made in Income Tax Law under section 50C to prevent evasion of tax by understating sale consideration in sale deeds. Under section 50C where stamp valuation authority has adopted a value higher than the declared price in the sale deed for the purpose of stamp duty, the value adopted for stamp duty is taken to be full value of consideration received as a result of transfer and capital gains will be required to be calculated accordingly.

However, if stamp duty value does not exceed 110% (raised from 105%) of consideration received, the consideration received is considered as full value of consideration.

Provision is also made in the Act u/s 194-IA to deduct tax at source @1%

potential of the youth. They studied the skill sets available in the state, the training imparted to existing work force, and other parameters which resulted in six verticals for Goa to attract investors.”

Raiker states that they are looking mostly at mid-cap companies to invest in Goa. “Mid-cap industries do not require a large land bank. We have to manage within the existing limits of our state and also within the framework of available manpower. Hence we are targeting mid cap industries in logistics, IT, and the other sectors.”

Raiker stresses on the fact that Goa can be a large logistics hub. “Logistics is a huge sector and we can benefit immensely. Countries like Dubai and Singapore have flourished only because of logistics. We have a port, an airport (Dabolim), plus an upcoming airport (Mopa) which provide us with

vast opportunities for export promotion. We also have the ‘Roll on-Roll off’ facility of Konkan Railways. Logistics is not only about warehousing. It would also require a cold chain, warehousing, truck terminals, multi-point loading facility, refrigeration units, and other modes of logistics. During our discussions with the chambers of commerce of neighbouring states we found that they are looking for avenues to export. Goa is ideally positioned to be the gateway for exports.”

There are road-shows being held in Mumbai, Ahmedabad, New Delhi and Bangalore in order to promote the upcoming event. Raiker says the competitions between different states are fierce and Goa has to be a step ahead of everyone. “All states are competing for investors and the scenario is very competitive. We as Goans have to offer an attractive proposition to be the choice for investment. We are

lucky to have our Industries Minister, Mauvin Godinho, who is leading from the front. He has attended the road shows in Mumbai and Gujarat and will be attending the others too. The CEO of Investment Promotion Board, Swetika Suchan is doing a great job with her presentations and is going all out to attract different companies to Goa. We have targeted companies that fall in the six sectors that we have selected including pharmaceuticals so that we can benefit to the fullest.”

Apart from road shows, the GCCI delegation has also visited all the consulates, foreign

delegates and organisations like the Singapore Investment Board, UAE Investment Promotion Council, and Investment Promotion Boards from other states of these countries. “We are likely to get foreign investments through them. We also have Invest India who have partnered with us. It is an association of the Government of India who help in promotion of investments in various states. Ernst & Young, a multinational professional services partnership are supporting this initiative, as they have a large client base. We have the knowledge chamber from Ahmedabad which is participating with us. Around sixty to seventy chambers are in sync with us and are trying to make it an event where maximum number of people can attend. We hope this ultimately culminates into them investing in Goa and providing commercial benefits for us,” Raiker added

by the purchaser, where the consideration for transfer of land or building other than agricultural land exceeds `50 lakhs where the seller is resident in India. TDS @20% is applicable if PAN is not provided by the seller. The tax should be deposited electronically within 30 days from the end of the month in which deduction is made, in challan-cum-statement in form no 26QB. TAN of the purchaser is not required. A certificate of TDS in Form no.16B should be issued to the seller to claim TDS credit within 15 days. This is also reflected in Form 26AS. Non-deduction of tax by purchaser attracts interest and penalty. In case the seller is non-resident, under section 195 tax should be deducted at source @20% (plus surcharge as applicable and cess of 4%) of sale consideration, irrespective of the amount.

To prevent black money in property transactions, a new provision is made applicable

from 01-06-2015 under section 269SS under which any payment by way of advance or otherwise for purchase of immovable property in excess of `20,000 must be made by account payee cheques/drafts/ electronic systems, failing which penalty of equal amount is attracted. The tax payers while negotiating any property deals should carefully consider tax implications and conditions to be fulfilled for not getting saddled with avoidable tax liabilities.

Goan spouses governed under Communion of properties under Portuguese Civil Code can claim above deductions and benefits for each spouse separately with substantial tax savings

The treatment for charging tax is different for long term and short term capital gains

Invest Goa 2022 aims to establish a direct connect with key stakeholders and reduce procedural delays that hamper the growth of various sectors

Critical pillars of retail business

The author elaborates on key points that a retail business should follow in order to be successful

Basic human needs and retailing business have a very close relationship for centuries. Retail business in India has taken off in leaps and bounds in the last few decades. Presently India has the largest retail store density in the world. With just about 9-10% organised retail stores, majority of retailing i.e about 89-90%, remains in unorganised sector with variety of formats. According to Global Retail Development Index (GRDI) 2021 report by Mc Kinsey, India is the second most potential country in the world for retail business, only after China.

Development and growth of India as a country, better infrastructure, improved transportation facilities, rapid urbanisation, better employment opportunities, increased disposable incomes, changing consumer trends and behaviour, and higher penetration of internet and smartphones are fuelling the growth of organised retail in metros and tier 1 cities, as well as in tier 2, 3 cities and beyond. From grocery to fashion and personal care products, established retail giants to new-age D2C retailers, B2B2C, all are focusing on this growing retail demand opportunity. They want to take the first mover advantage and achieve higher market shares and establish their brands in the untapped hinterlands of India.

Critical factors in retailing success

For retail business to be successful, it needs to meet and manage a few critical factors. Some of the most critical ones to which every retail business online or offline, must give serious attention are discussed below:

(a) Location of the Store:

Once Sam Walton was asked what is the most critical aspect behind success of Walmart and he replied ‘Location, Location, and Location’. Well a good location is always a positive factor contributing to a stores success, because location determines the footfalls of customers to the business.

A good location is one which is easily accessible, clearly visible, and logistically good, has good traffic flow, and ample parking space.

In the present day technologically influenced world, one would argue that location does not matter much as most business happens online and digitally, and the physical store and location really makes no difference. Yes, that is true, but the consumer purchasing studies show

that a large section of customers, though want the convenience of ordering online, also want to see, touch and feel the product before purchase and get the happiness of being there and doing the purchase. Once 100% online businesses like Dell, Amazon, Pepperfry etc. setting up their physical stores, and the emergence of phygital and O2O is a testimony to the fact that physical does matter and hence the location of the store is an important factor.

(b) Inventory Management: The second most critical factor is the inventory management. For a customer, availability of the product when s/he wants it and on time delivery in case of online purchase is the most important part of a shopping experience, many a times over the price. As such availability of goods in the store is very critical for which a robust inventory management system has to be in place. Having too much inventory or too less inventory is bad and thus neither overstocking nor understocking is good for the store, as both have lost opportunities. Overstocking will eat into your profit by way of locked in capital and understocking results in lost sales and customers and many times losing customers for life.

(c) Technology and Digital interface: Creating an ecosystem that is convenient and comprehensive thereby digitally connecting customers to business using technological advancements like data analytics, cloud computing, AI, ML, VR, MR, mobile technology, fintech and

convenient virtual payments will boost a business’ performance and profitability. Any business that is not agile and does not adapt to the changing tech environment will find its survival very difficult.

(d) Logistics and Supply Chain Management: Logistics and SCM in retail business are critical from the point of inventory management ensuring availability in brick and mortar format and on time delivery in case of online retail. The importance of availability of a product as and when desired by the customer needs no mention. And this is largely dependent on excellent logistics support and appropriate SCM management. Technologies such as RFID, automated fulfilment, cloud-based logistics technology, last-mile delivery solutions, distributed logistics, predictive planning, inventory visibility and movement tracking, same day or same hour delivery solutions are all tools available for assisting better logistics and SCM. Effective last mile delivery in case of online and correctly filled and on time delivery for retailers in space of home delivery format are critical.

(e) Online - Offline touch-points: Retailers today need to operate in a mix format touching both online and offline platforms to provide convenience and value to customers. A retail business operation in combination of physical and digital formats give ample opportunities and touch-points for connecting with tech savvy customers. Whether a retailer deals in grocery, garments, fashion products or personal grooming brands they all need to have presence physically as well as online for wider connect with customer.

(f) Customer Expected Content: ‘Content is king’, and new retail requires a constant flow of it 24x7. Content is critical to creating the experience called ‘retailtainment’ that makes shopping part of a lifestyle that is pleasurable.

Besides getting necessary information about the products, consumption of this content is also very exciting and engaging. Retailers therefore need to create and circulate relevant, exciting and entertaining content among its customers on a regular basis.

Success is not a problem for any retailer that follows above mentioned simple yet effective critical points

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

Once Sam Walton was asked what is the most critical aspect behind success of Walmart and he replied ‘Location, Location, and Location’

Who changed LinkedIn’s core purpose?

The author explains how LinkedIn has digressed from a professional networking site to people posting about their personal lives on the platform

Reid Hoffman who was one of the cofounders of LinkedIn created the platform in 2002 with the belief that whilst MySpace and Facebook are cool personal networking sites, the opportunity on the business side is much larger. Thus LinkedIn was created as a professional networking site. In other words, to meet and greet and profit from professional connections. Towards this end, by 2005, they had launched jobs and recruitment features along with paid subscription. In 2016, Microsoft acquired a significant stake in LinkedIn valued at $26 billion, by far the largest acquisition Microsoft ever made at that time, as they believed that Microsoft Office 365 and LinkedIn had huge synergies to grow hand in hand, even as ‘they seek to empower every person and organisation on the planet’ (Satya Nadella).

As late as 2019, LinkedIn introduced a new feature for businesses where freelancers could be discovered and engaged with on the platform. So in the last nearly two decades, they have stayed true to their purpose and it is to their credit that they have managed to remain a virtual monopoly in the professional networking space.

I have been on LinkedIn probably since 2006. And except in one instance where the guy sent me a marriage proposal, all interactions have been strictly professional. I have over 12000 connections; I have a thumb rule that before I accept an invitation, the other member should have 500+ connections and minimum 50 mutual connections.

The only exception I make is in the case of entrepreneurs. And I must admit I have felt unreasonably chuffed to receive invitations from virgin LinkedIn-ners (0 connections)!

it is one life and you better live it on your terms; it is about birth announcements and obituaries. I can go on and on because in my head I have been filing away all the typical posts that have been coming up on my feed and increasingly I am asking myself, when did LinkedIn change its character from a professional networking site to an agony aunt platform?

Board meeting! You understand where I am coming from?

We have all been brought up on a diet of sharing woes is halving woes. And on a platform such as LinkedIn, technically speaking, given the number of members you are sharing your woes with, once you post, your woes ought to vanish! I get it. We have suddenly become this vulnerable, don’t-mind-sharing-my-vulnerability -with-strangers species since covid. Now the boundaries of what should be shared and should be endured have disappeared. They have disappeared because social media has democratised access to a public address system. ‘Have grief, will holler’ seems to be the emerging anthem. I have only one question. Why LinkedIn?

It is quite likely that the answer will be, where else? Facebook icon is no longer on the home screen of our mobiles, Instagram insists on less words, more pics, so where else can you air your shredded linen? But have you asked your fellow members whether they would like you to share? And what I find even more shocking is that when someone posts a tragic story, instead of empathy, I find people getting volubly abusive! I saw a pic the other day of a road accident where the person’s wife died and he is cradling her in his arms. And he had written just one word. Devastated. And the very first comment was “you deserve it jackass, instead of calling the ambulance why are you holding her!!” Seriously?

In the last 18 months, I have noticed (post covid) that the posts on LinkedIn have changed dramatically in character. The posts have become blatantly personal. It is about death of a family member; it is about a family member who is struggling to fight cancer; it is about blood requirement; it is about sex change; it is about change in preferences for personal pronouns; it is about incredible hardships in the personal space; it is about failing mental health; it is about inspirational stories that talk of recovery of self and self-esteem; it is about domestic abuse; it is about botched surgeries; it is about preaching from the pulpit on how The columnist is co-founder of bakery and restaurant business (www.concoctions.fr) with her French Michelin-star chef life partner. Email: nandini@carmaconnect.in

Don’t get me wrong. I understand covid has been extremely unkind to mankind. I have my share of covid woes too. But who was the first culprit who posted a personal story here and when? And how come LinkedIn allowed it and continues to allow it? Yes I understand we are humans and as such our personal and professional spaces cannot be put in air-tight compartments. Whilst I have no reservation about a pic that a lady Board member may put up that shows her breast-feeding her baby whilst attending a Board meeting, I have serious issues if the intent of the post is the fact of breast-feeding and not the agenda of the

That makes me wonder, if we all know that a personal post gets brutally trolled, why do we still post at all? Or is this some kind of masochism? LinkedIn, please wake up and stick to the knitting

As late as 2019, LinkedIn introduced a new feature for businesses where freelancers could be discovered and engaged with on the platform. So in the last nearly two decades, they have stayed true to their purpose and it is to their credit that they have managed to remain a virtual monopoly in the professional networking space

Lack of financial knowledge has painful consequences

The author elaborates on the importance of financial literacy

Today many consumers have very little understanding on finances; an essential indicator of people’s ability to make financial decisions is their level of financial literacy. The Organisation for Economic Co-operation and Development (OECD) aptly defines financial literacy as not only the knowledge and understanding of financial concepts and risks but also the skills and confidence to apply such knowledge and understanding in order to make effective decisions across a range of financial contexts, to improve the financial well-being of individuals and society, and to enable participation in economic life. Thus, financial literacy refers to both knowledge and financial behaviour. In India, only 24% of the people are financially literate because the rest of the people usually run to their family or any elderly person for financial advice who only know about conservative products, so the new generation also lands up with the same. Awareness about mutual funds, equity, new age insurance products or even crypto and effective financial planning is missing. Some changes in consumer habits and financial products have made it harder for people to manage their finances. In the past, most people used cash for daily purchases. Today, they use credit cards more frequently. Without proper knowledge, it is easy to get into financial trouble.

Saving vs Investing

It is important to understand whether people are equipped to effectively navigate the maze of financial decisions that they face every day. To provide the tools for better financial decision-making, one must assess not only what people know but also what they need to know, and then evaluate the gap between those things. With rising prices and increasing life expectancies only saving money in a bank account or a closet will not beat inflation, investing the money correctly is the key. When you want to multiply the money you put it in various asset classes such as stocks, bonds, real estate or gold, you are creating wealth but choosing the wrong product or the wrong time due to lack of financial knowledge will get your finances crushing down.

The Gender Gap

A gender gap in financial literacy is also present across countries. The survey highlighted the overconfidence among men and lack of financial knowledge among

women; this is not just in India but also in other American and European countries, as well. Due to this, many people arrive close to retirement carrying a lot more debt than previous generations did.

What can be done to overcome this problem? There is no question that financial education is a global problem. The real question is what can we do about it? As adults, consult professionals before you take financial decisions especially when it is related to investing or debt management. For children, it isn’t just governments and schools that can solve this problem; it is up to parents to educate their children as well. Your children are never too young to learn about financial education.

In fact, you can begin having conversations about money with them while they are still adolescents. Something as simple explaining what it means to save money, or, showing them what they can buy with a small allowance will get them started thinking about money in a healthy

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

way. Habits like conscious consumption and saving which are developed at this young age can stick around for life. A key lesson is that when it comes to providing financial education, one size does not fit all. It is important to target students and young adults in schools and colleges to provide them with the necessary tools to make sound financial decisions as they graduate and take on responsibilities, such as buying cars and houses, or starting planning for their retirement and other financial goals. Planning is a very strong predictor of wealth; those who plan arrive close to retirement with two to three times the amount of wealth as those who do not plan. Thus the importance of financial education cannot be overstated.

To summarise, financial literacy is low across the world and higher national income levels does not equate to a more financially literate population. Moreover, the exponential growth in financial technology (fintech) is revolutionising the way people make payments, decide about their financial investments, and seek financial advice. In this context, it is important to understand how financially knowledgeable people are and to what extent their knowledge of finance affects their financial decisionmaking.

Thus, financial literacy refers to both knowledge and financial behaviour. Financial literacy affects everything from day-to-day to long-term financial decisions, and this has implications for both individuals and society. An uneducated financial individual armed with a credit card and easy access to loans with no proper financial knowledge can be just as dangerous as a person who is given a car to drive with ineffective training

Financial literacy is low across the world and higher national income levels does not equate to a more financially literate population. Moreover, the exponential growth in financial technology (fintech) is revolutionizing the way people make payments, decide about their financial investments, and seek financial advice

Lifestyle changes can help manage Polycystic Ovarian condition

Global studies peg the estimated prevalence of Polycystic Ovary Syndrome (PCOS) between five to 15 percent among women affecting them during their reproductive years, mostly in the age group of 14 to 45 years. Most are unaware of the condition until it is diagnosed in course of a routine check-up or an alternate health diagnosis. The good news is that lifestyle changes can help women to effectively manage the condition. However, societal stigma vis a vis PCOS needs to be addressed, says the doctor-writer

Changes in lifestyle can help women turn the tide against Polycystic Ovary Syndrome (PCOS), a common hormonal condition affecting women during their reproductive years, mostly in the age group of 14 to 45 years.

While global studies peg the estimated prevalence of the condition at between five to 15 percent among women, most are unaware of the symptoms of the disease until it is diagnosed in course of a routine check-up or an alternate health diagnosis.

Lifestyle habits such as poor eating habits, lack of physical activity, among other allied reasons have led to an increase in instances of polycystic ovaries. The good news is that lifestyle changes can help women to effectively manage the condition.

Some of the eggs develop into cysts, which are little sacs filled with liquid. Instead of being released during ovulation, these cysts build up in the ovaries and at times even get enlarged.

Some of the common, but key symptoms of the ailment are irregular, delayed periods and reduction in periods. In addition, male pattern of hair distribution known as ‘hirsutism’, where girls witness hair grown on their upper lip, chin, chest and back – a result of excess androgens – can occur.

Such cosmetic related symptoms tend to have an impact on women, which can also affect them psychologically. Another symptom is acne, hair loss and darkening of skin over a period of time. In some cases, the ovaries become enlarged and secrete large amounts of androgens that interrupt the cycle of fertility in a woman’s body.

In many cases, women learn about their PCOS conditions when they visit fertility clinics for treatment, when they have trouble conceiving.

Infertility is one of the key issues that arise from polycystic ovaries. The condition can lead to anovulation, which is a lack or absence of ovulation (the release of an egg) and is another common cause of infertility. Anovulation is often the result of an imbalance of the hormones that cause a woman to ovulate and can arise from polycystic ovaries. Lifestyle changes including good eating habits, nutrition, regular physical activity and exercise can assist in managing the condition.

Intermittent fasting in particular is the gold standard treatment for the condition and can even correct the condition even without medication.

Small, yet significant lifestyle changes such as adopting a daily exercise routine, eating well balanced nutritious meals with a large portion of vegetables and fruits, being hydrated and being mindful about your health and wellness can go a long way in the recovery process. In terms of nutrition, we recommend dietary changes and put the patient on a healthy meal plan which includes meals eaten at fixed time intervals. Additionally, we encourage patients to adopt an exercise routine which includes cardio, stretches and activities like walking and cycling. There have been cases where

SYMPTOMS TO WATCH OUT FOR:

• Irregular, delayed periods and reduction in periods.

• Male pattern of hair distribution known as ‘hirsutism’, where girls witness hair grown on their upper lip, chin, chest and back

• Acne

• Hair loss and early stage balding

• Darkening of skin over a period of time

LIFESTYLE CHANGES WHICH CAN HELP STABILISE THE CONDITION:

• Intermittent fasting is the gold standard treatment for the condition

• Adopting a daily exercise routine which involves cardio, stretches and activities like walking and cycling

• Eating well balanced nutritious meals with a large portion of vegetables and fruits

• Staying hydrated

• Being mindful about one’s health and wellness

The writer is an obstetrician and gynaecologist at Gracias Maternity Hospital,Margao. Email: emanuelgraciasmd@gmail.com

PCOS tends to cure itself after pregnancy. We don’t know why, but we have seen such cases. Pregnancy, followed by another year or so of breastfeeding; during this process, the woman won’t get her periods for over a year or more. This probably allows time for the hormonal changes to settle and for the menstrual cycle to regularise once it resumes. In many cases the menstrual cycle is regular after pregnancy in cases where PCOS was evident before pregnancy. However, it is very important that an individual not look at pregnancy as a cure for PCOS. While there are no known causes for the developing PCOS, scientific theories point towards heredity or leading sedentary lifestyle, as causes for the conditions.

It is not that PCOS impacts the body alone, polycystic ovaries cause some psychological issues like anxiety in women, especially due to weight gain and cosmetic issues like male pattern hair growth, acne and hair fall, for which counseling is critical during the recovery process.

It is a condition which needs to be addressed and managed effectively. Many want a quick-fix pill which can help them feel better instantaneously. However, a more structured approach which includes diet and exercise is more effective. Once they start to lose weight and get healthier, the menstrual cycle tends to regularise.

The stigma attached to infertility also plays heavily on the mind. It should not be, because there are many who are going through similar conditions and attaching a stigma to it can cause one to get anxious. Often there are instances where parents bring in their young daughters who have irregular periods and parents are anxious to know if their daughter will be able to conceive as they grow older. It is the parents who are often more worried than the young girl. In order to specifically facilitate patients impacted by PCOS, it is important to provide a safe and non-judgmental environment. The occurrence is so common that we have also designated one day of the week just to have a specialised OPD for our PCOS patients – specifically for this issue and take appointments so that patients feel comfortable to walk in for a diagnosis without being anxious or feel judged by other patients present

Lifestyle habits such as poor eating habits, lack of physical activity, among other allied reasons have led to an increase in instances of polycystic ovaries. The good news is that lifestyle changes can help women to effectively manage the condition

Serving Traditions with a Twist

f there is one thing that Goa’s Latin quarters is known for apart from its pretty houses, it is the mushrooming of eateries in all its little lanes. Antonio @31 with its rainbow coloured shutter is no exception with its reverberating latin music, crowded community tables, the tavern is a throwback to what the Panjim of old used to be.

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Chef Pablo Miranda’s eatery situated on Panjim’s 31st January Road, which was once the commercial street of Panjim, was started off as a cloud kitchen during the pandemic. A passion project borne out of the dedication to local flavours both, in small plate style food (TAPAS) and drinks (COPOS). I dragged my partner in crime, Keegan on a hot August afternoon to this pretty little eatery with its un-missable canopy of candy-coloured party streamers.

Their cocktail menu has drinks like Smoked Pineapple Margarita, Urrak and Kokum, Guava Chilli, Feni Mule, Fontainhas G&T while their in-house infusions boasts of names like the Butterfly Pea Tea Gin, Whiskey Cigar and Cinnamon Gin to name a few.

We tried the Feni Mule which was a mix of Goa’s famous Cashew Feni, Ginger Ale, mint and bitters and gives one a heady feeling. The Guava Chilli is a concoction of Vodka, guava juice, lime and chilli whose spicy notes hit all the right spots on one’s palate.

Apart from their cocktails they have wines, whiskey, single malts, gin, rum, brandy, Feni, shooters, beers and mixers.

Their Tapas menu is pretty extensive and has delightful names like Mushroom Mardol Bunny Chicken (Mushrooms cooked in coconut milk and Goan spices), Bingtakar (Boiled whole peanuts), Stir fried Sannas (in a sorpotel glaze), Prawn Bhel (Miraman bhel with crispy baby shrimp), Truffle mushroom Rissois (Mushroom empanadas with truffle oil), Stuffed Squids (Baby Calamari stuffed with recheado prawns), Butta (Char grilled ribs of corn with a side of chilli aioli), Banana Leaf wrapped Black Emperor (Fish marinated in Sri Lankan black pepper sauce), Cafreal Squid, Aad Maas OssoBucco (15 hour sous vide ossobucco with Goan spices and red wine jus), Pork Ribs (in tamarind old monk glaze spicy slaw) and Beef Tongue (salted beef tongue, with mustard and greens).

We had the truffle mushrooms, butta and stuffed squids. Every bite of the truffle mushrooms were a delight while the butta, a vegetarian option to the famous pork ribs, served charred with a side of chilli aioli was a delightful surprise. The stuffed squids were packed with recheado prawns and the filling with the right amount of masala was lip-smacking.

We then decided to try the beef tongue which was thin slivers of salted beef tongue

with mustards and greens. A little chewy the salty notes made the perfect accompaniment to the Feni mule.

Their dessert menu is small but has interesting choices like the Biscuit Cake (chocolate mix with orange and cashew nuts), Carrot Cake with cream cheese frosting and the Pinacolada which is a coconut panacotta topped with smoked pineapple, coconut crumb and rum syrup. We tried the biscuit cake and pinacolada. While the Biscuit cake was crunchy with the perfect amount of chocolate and cashew nuts; the pinacolada tops the list of desserts. The creamy panacotta with its coconut crumb base topped with smoked pineapple makes for a scrumptious finale. Every bite of this creamy creation was gorgeous with the smoked pineapple balancing it out perfectly.

In the old days, the small bars and eateries were the perfect place to gather with old friends and make new ones. To hear popular phrases like ‘Bossuya mare?’ (Let’s hang) or ‘coppak kenna bossuya?’ (When can we sit for a drink), in the days of yore was not uncommon. Antonio’s was built with such aspirations in mind. Do step in for a drink and staples of Goan cuisine extended into experimental territory with mouth-watering results. It is just what you need after a hot day of walking and posing (for the insta influencers) in this delightful neighbourhood

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Antonio@31, situated in Goa’s colourful lanes boasts of memorable cocktails, vibrant music and a menu with a refreshing spin on the recipes of yore, writes SYBIL RODRIGUES

Biscuit Cake

Pinacolada

Stuffed Squids

Baton Change at Skal Goa. Shekhar Divadkar is new President

Skalleague Shekhar Divadkar was installed as the new President of Skal Club of Goa, for the term 202224, at a glittering ceremony held during the AGM at Alila Diwa, Goa. Minister for Transport, Industries, Panchayat Raj and Protocol, Mauvin Godinho was the Chief Guest; while Director of Tourism and CEO of the new formed Goa Tourism Board, Nikhil Desai was the Guest of Honour. Curtorim MLA & GIDC Chairman, Alexio Reginaldo Lourenco and Benaulim MLA, Captain Venzy Viegas also graced the occasion. Director of Transport Rajan Satardekar attended the event, too. Sk. Shekhar Divadkar a member of SKAL since 2007, has held various key posts during his 15 years with SKAL. He was earlier Treasurer, Secretary, Vice President with Skal Goa, National Secretary for Skal International India and presently is the Secretary for Skal International Asia; he is also member of the Skal International President’s Committee for statutes and bylaws. While continuing the tempo which was set by the past President Sk. Ernest Dias, Sk. Shekhar and his Skal Goa Board Members have a vision of creating a niche for the club in the areas of Conservation of Environment, CSR, Social Causes concerning the industry that they represent – hospitality and travel; to archive the history of Skal Goa, to follow statutory requirements, and above all giving Skal Goa a voice in India, in Asia and the World

Sk. Carl Costa

Sk. Prashant Korgaonkar

Sk. Ashrafali Nizari

Sk. Glafy Castellino

Sk.Guitry Velho

Sk. Suveer Sodhi

Sk. Prasad Kanoth

Sk. Siddharth Savkur

Sk. Ernest Dias

Sk. Sanjeev Mendes

Sk. Atool Mulgaonkar

Sk. Reshma Alves Sk. Vivek Kerkar

Sk. Ramnath Quenim

Sk. Alirio Lobo

Aleixo Reginaldo Lourenco

Sk. Mark Mendes

Sk. Nirav Parekh

Sk. Mario Sequeira

Rachael Albuquerque

Sk. Saurabh Khanna

Sk. Larry Malarkar

Nikhil Desai

Sk. Vinay Albuquerque

Sk. Som Malik

Sk. Aakash Madgaonkar

Sk. Menino Goes Proenca

Harshvardhan Bhatkuly

Sk. Shekhar Divadkar Mauvin Godinho

Lollo Rosso: Bowl’in out delights in Anjuna

The V Factor, a leading pan India brand advisory services company, founded by Vaishali Joshi, is synonymous with curating exquisite lifestyle events and experiences across the country. The V Factor curated an exquisite lunch showcase at the newly launched bowl concept restaurant, Lollo Rosso, set amidst the lush green paddy fields of Goa. Lollo Rosso is the pioneer of the Bowl Meals concept in the city of Ahmedabad. What started in 2017 as a quaint little outlet with a seating capacity of 12 people, expanded in 2018 with the addition of a 50 seater restaurant. Thanks to the immense love and support, in 2019, another outlet was added to the list. It is the brainchild of Aalap Shah, who has completed his masters from the US and who is a culinary aficionado. Aalap found this concept out of sheer need of the hour. His concept was backed by Tarak Das, a chef with 15 years of experience, well exposed to various cultural food habits, who gave life to Aalap’s vision. They thought of going a step ahead and not limiting themselves to only Ahmedabad. They spotted an unmanageable farmland and vehemently started working on it and within 9 months a massive project was ready in Goa. Goa is one place that is synonymous with partying. But at the same time, it is also well known for its soulful food. Wholesome bowl meals are perfect for Goan locals and tourists as they consist of perfect condiments required to make a complete nutritious meal. It works as a perfect hangover cure as well as a perfect after party meal

Aalap and Runali Shah

Gauri Nadkarni

Varsha Hansraj Neha Zantye

Odette Mascarenhas

Sharmila Rajani

Sanjyot Nadkarni

Sheetal Pai Kane

Akshada Khaunte

Rakhi Salgaocar

Rima Tolani

Gaurapriya Pai Kane

Maria Misra

Priyanka Dempo Pikale

Smitha Metha Parulekar Sandra Fernandes

Akshaya DempoSanjana Dempo

Urvija Bhatkuly

Nayantara de Lima Leitao

Vaishali Joshi

Neelam Khaunte

Sangana Gosalia

Kalyani Dempo Laud

Shefali Caculo

Priti Mahatme

Rakshanda Khaunte

The V Factor led by Vaishali Joshi curated an exquisite lunch at Lollo Rosso

Prof Seshu Pasumarthy is new IIT director

Prof Seshu Pasumarthy has been appointed as the new director of Indian Institute of Technology (IIT) Goa. He is currently Director of IIT Dharwad.

The President of India Droupadi Murmu in her capacity as the visitor of IITs has approved the appointment of directors of eight IITs including Goa, Dharwad, Tirupati, Palakkad, Bhilai, Gandhinagar, Bhubaneshwar and Jammu.

Pasumarthy has replaced Prof B K Mishra, who has been IIT Goa chief since March 2017. Prof Pasumarthy holds a B Tech degree from NIT, Warangal (1984), M Tech from IIT Madras (1986) and PhD, also from IIT Madras (1989).

Prof Pasumarthy’s areas of interest are finite element modeling and computational solid mechanics. He has also published articles in 21 different journals, one book and has presided over a number of conferences

Maria Miranda conferred with National Award on Teacher’s Day

Maria Murena Miranda, Headmistress of Government High School (GHS), Morpirla was conferred with the National Award at the hands of the President of India Droupadi Murmu on the occasion of Teacher’s Day. This achievement comes after 34 years of service in educating students, especially tribal students, who have secured 100 percent SSCE results for seven consecutive years. Miranda is from Assolna, and was born and brought up in a scholarly family of Sanguem. She worked as assistant teacher in Guardian Angel High School; Curchorem for Maths and Science; taught physics at Dr TB Cunha Higher Secondary School, Panjim, Government Higher Secondary School, Canacona; Government Multi-Purpose Higher Secondary School, Margao; science in Government High School, Shistal, Canacona; and for the last nine years, she has been teaching science for SSC at GHS, Morpirla

Avinash Kothuri, a 2010 batch alumnus of BITS Pilani, K K Birla Goa Campus has been awarded the prestigious Skoll Scholarship (2022-23), a fully-funded scholarship for the Oxford MBA at the Saïd Business School, University of Oxford, provided by the Skoll Centre for Social Entrepreneurship. Avinash is one of the four students who are awarded this fellowship this year.

Avinash was the Director of inclusive education at Thinkerbell Labs, which builds ed-tech solutions to improve learning outcomes for the visually impaired. Thinkerbell Lab’s flagship product, Annie, is the world's first Braille literacy device. Avinash is a mechanical engineering graduate from BITS Pilani Goa. In 2019, he was one of 25 people selected worldwide for the Dalai Lama Fellowship Program. The Skoll Scholarship provides funding for entrepreneurs who have set up or have been working in entrepreneurial initiatives with a social purpose or who have pursued an impact career, and who wish to improve their knowledge of market-oriented practices so that they can be more effective in their subsequent social change pursuits

Putzmeister Concrete Machines has appointed Kanjanabha Bhattacharyya as Managing Director. A graduate in Metallurgical Engineering from Jadavpur University and an alumnus of IIM Calcutta, Bhattacharyya comes with 13 years of business leadership experience. He started his professional journey with Siemens. Thereafter he worked with Boston Consulting Group and Metso Outotec where he was the Managing Director. He was serving as President with Tega Industries before joining Putzmeister. Speaking on his appointment, Bhattacharyya said, “Excited to be starting my journey with Putzmeister, a brand synonymous with the concrete industry since 1958”

Prahlad Sukhtankar has been selected as a curator in charge of the Culinary Arts section for the 5th editions of the Serendipity Arts Festival to be held in December this year. Sukhtankar graduated with a BBA in Marketing and Hospitality from Les Roches, Switzerland. He worked with several leading hotels of the world in Switzerland and Ireland before being offered a MiT position by the ultra-luxury Four Seasons Hotels LLP, where he worked his way up with the company, through the US and Canada. In Vancouver, Canada he earned the coveted Sommelier’s Diploma from the acclaimed International Sommeliers Guild (ISG) with Honours. In 2014 Prahlad with his wife Sabreen opened the doors to their first restaurant, The Black Sheep Bistro in Panaji

1. Which company was founded by French chemist, Eugène Schueller in 1909?

2. ‘Positioning’ as a marketing concept was developed by Jack Trout and

3. With which Indian company has Taiwanese chip maker Foxconn tied announced$19.5bn (£16.9bn) to build one of the first chipmaking factories in India?

4. Shivinder and his elder brother Malvinder Mohan Singh are connected with which Indian pharma brand?

5. Which company made the rifles that caused the sepoy mutiny of 1857 in India?

6. In June 1993, which British hair care brand was acquired by Sara Lee fromSmithKline Beecham?

7. Which brand was originally introduced in 1950 by Boots Healthcare as amouthwash?

8. Which toothpaste brand’s original formula contained pepsin, a digestive agent designed to break down and digest food deposits on the teeth?

9. No Filter: The Inside Story of ________ is a book bySarah Frier

10. Identify this global retail leader of Indian origin

Answers to BG Quiz

Kumar Mangalam Birla

9. Thomas Parry

Biscuit

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Sweden

Caterpillar

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Coffee

Goa

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Prahlad Sukhtankar selected as curator for the Serendipity Arts Festival