Business Goa June 2020

june 2020

VOL 6 ISSUE 6 panaji goa

goa’s only business magazine

RNI No.: goaeng/2015/59955

Postal license no.: G-2/RNP/Monthly/Goa-19/2018-20

industry dossier

tourism fights to survive focus goa

industry struggles to restart focus goa

dr edwin gomes interview

savni pai panandiker starting young

dr vikram talaulikar professional dossier

LANDSPACE TO AEROSPACE

SHEKHAR SARDESSAI’s story of building KINECO GROUP from ground-up is as inspiring as it is fascinating

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News Views Articles Interviews Profiles Focus Analysis Opinions Events Features

12

contents Cover Story 12

25 years is a long time in the history of an organisation – more so, when you have endured constant trials and tribulations and tasted success through sheer hard work and a vision that people around you found hard to believe. SHEKHAR SARDESSAI’s story of building KINECO GROUP from ground-up is as inspiring as it is fascinating

Focus Goa: Industry 18

Members of Goa’s manufacturing sector speak on the long road to recovery as the lockdown is relaxed

Focus Goa: Tourism 20

With hotels and hospitality destinations being forced to shut operations due to the lockdown, stakeholders ponder upon their present condition and contemplate what the future holds for them

Focus Goa: Restaurants 23 34

24

30

The Union Ministry of Home Affairs (MHA) has issued guidelines to kick-start ‘Unlock 1.0’ in the State, Goa’s restaurant industry preps for vigilant resurrection

Starting Young 24

Savni Pai Panandiker has been working with her mother’s brand ‘Antarang’ to make beautiful hand-painted reusable cloth masks as a response to COVID-19 requirements

Stars of BNI Goa 26

Manoj Patil, is known in trade circles for having been a first mover in the office automation business

Stars of BNI Goa 28 18

44 42

Vinay Verma has worked hard over the years to make his powersolutions business a name to reckon with

Interview 30

COLUMNS

38 Industry Voice

Sundeep V Bambolkar lists out measures which could propel the economy forward in the face of an imminent recession

39 Uncomplicate Business

Sunil Dias speaks about controlling one’s anxiety as business limps back to normal

40 Wealth Doctor

Amiya Sahu lists out attributes that makes for a profitable long-term investment proposition

41 Corporate Citizen

Daniel Albuquerque deals with the 23 March 2020 Suo Motu Order of the Supreme Court of India whereby the court has suspended the limitation period until the lockdown imposed due to Covid-19 was lifted

06 Editorial 08 Corpo Scan 33 Campus 33 BookShelf 36 Biz Bytes 46 Newsmakers 46 BG Quiz 04 | Business Goa industry Dossier | june 2020

Dr Edwin Gomes is currently leading the fight against COVID-19 with his staff at the ESI Hospital in Margao

Professional Dossier 34

Dr Vikram Talaulikar, MD, University College London, UK, recently made headlines when he offered to be tested for the vaccine that is developed to fight COVID-19

Bon Appétit 42

While the globe currently battles its way against the COVID-19 crisis, Abhijeet Shetye, a real estate developer from Vasco, takes his love for the culinary arts to the next level; while lawyercum-culinary artist, Madhumita Salatry speaks about her passion for cooking and working during the lockdown

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Tough times don't last Hang in there.

We'll get through this.

These are difficult days for us all, but this too shall pass.

Survive now. Thrive later.

editorial Survival Instincts june 2020

Publisher & Editor Harshvardhan Bhatkuly Co-Publisher & Group Head Urvija Bhatkuly Advisory Board Datta Damodar Naik Ralph de Sousa Rajiv D’Silva Swapnil Kamat Business Head Annalise Gouveia Reporters Sybil Rodrigues Nadine Monteiro Admin & Accounts Ashok Kolvekar Distribution & Logistics Mayur Santinezkar Contributors in this Issue Ameya Nayak Amiya Sahu Daniel Albuquerque Sundeep Bambolkar Sunil Dias Editorial, Advertising & Administrative Office

Business Goa

409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 0832-2437822 Email: businessgoa.media@gmail.com Unsolicited material may not be returned. The opinions in columns and other stories expressed in Business Goa Industry Dossier are not necessarily that of the publishers and the Publisher/Editor shall not be held liable for any inaccuracy or otherwise.

While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.

The sheer despondency of businesses to restart operations in the face of the pandemic, in a way, is a reflection of stark reality.

The fact that people choose commerce over a health scare is something truly bizzare.

But the reality gets pronounced when you look at the situation from the perspective of the Indian entrepreneur. Yes, it is an oft repeated mantra nowadays that “we have to live with coronavirus”. But working with it is an altogether different ball-game. It is easy to decry these traders and entrepreneurs but they know the perils of living in a situation of uncertain earnings. Many have faced the wrath of not having any earnings in the first phase of lockdown. Most businesspersons operate on slim margins and overdrawn accounts. For others, entrepreneurship is not some fancy start-up or corporate structure, but a medium of self-employment.

To alleviate the fears of the common businessman, the government has made all the right noises, but somehow this has not allayed the fears of the business community.

The person out there running his or her enterprise is circumspect that there will be no relief coming their way in money terms – but on the other hand, s/he knows that their businesses will continue to be liable to pay salaries, taxes and maintain compliances in pre-covid standards.

One hears of business people being hauled up by the authorities for slashing employee salaries or putting them to new terms with respect to their employment.

There are, of course, many unscrupulous businesses who maintain a garb of doing social good while not honouring their commitments to employees. There are also many others whose cash flows have been so badly affected by the pandemic that it is nearly impossible for them to keep their entrepreneurial edifice together. It is not a secret that the Indian banking system extracts huge sums from borrowers in the form of interest; besides, there are other

06 | Business Goa industry Dossier | june 2020

Harshvardhan Bhatkuly incidental, penal clauses and fine print that the borrowing business entity signs on for the sheer urgency of securing finance.

All these fine prints along with penalising clauses are coming to haunt many businesses around us, today. Some are gulping the bitter pill and closing down establishments as there is no revenue at all to be seen on the horizon. Sadly, these businesses are left with no option but closure.

If you have done business in India from ground up, you know in your bones that the idea of an enterprise is a solo sport and that state support is a mirage that you only read and watch in state sponsored advertisements. If the above statement is an unreal assertion, it may be because there is no move by the state to reach out to entrepreneurs who are in dire need of financial incentives. Private enterprise, by and large, perform the greatest service that it can – providing employment and lessening the state’s burden of doing the same. The pandemic has exposed the dark underbelly of the state’s economic response and the inability of many enterprises – those with the financial muscle – to up their game and put their money where their mouth is.

The more disturbing part is where certain companies have donated to photo-op worthy cause banners, while, on the other hand, laying off scores of employees. This is often done out of fear or to curry favours – not something that you are likely to read in business management text books.

Entrepreneurs have to be left alone to remain focussed on their businesses – and the government should stop putting spokes in their wheels. With the proliferation of technology based devices, this is a perfect opportunity to automate most interaction between citizen/business and the government, so that ‘ease of doing business’ flourishes and personal biases and discretion gets reduced to a menu driven feature on your hand-held device or computer

Printed, published and owned by Harshvardhan V. Bhatkuly and printed at Impressions and Published at 409, Citicentre, EDC Patto Plaza, Panaji - Goa 403001. Editor: Harshvardhan V. Bhatkuly

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Corpo Scan

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GBOA sees red over Maharashtra barges operating in Goa’s inland waters Goa Barge Owners Association (GBOA) has raised a strong objection to the Maharashtra-registered barges being operated in the inland waters of Goa. Ravi Naidu, a member of GBOA, has submitted a letter to the Directorate of Mines and Geology stating that two Maharashtra-registered barges are operating in the inland waters of Goa and the vessels do not have permission from the Government of Goa. The letter also states that the barges which are in operation in inland waters are not fitted with GPS as per the rules in force and are not registered with the Directorate of Mines and Geology. The barge owners have also not employed any local crew, and

“The barges have to do the load line assignment, and subsequently they need to be issued endorsement certificate” ATUL JADHAV

the crew members onboard are without endorsement certificates. If these barges are allowed to operate, they will pose a threat to the iron ore movement by Goan barges in the Goan rivers, states the complaint. Copies of the letter, objecting to the engagement

of outstation barges, have also been submitted to Chief Secretary, Port Secretary and Minister of Ports.

The former president of GBOA Atul Jadhav said that the members of the association are protesting vigorously against the

operation of two outstation barges in the inland waters of Goa. Jadhav says that it’s not legally tenable to operate barges in the inland waters of Goa. The design of the barges needs to be submitted to the Captain of Ports as it is not known whether these barges are suitable for Goan waters.

According to Jadhav, the barges have to do the load line assignment, and subsequently they need to be issued endorsement certificate. The outstation barges need to engage local crew as the crew from the other states might not be aware of Goan inland water channels, leading to accidents. He further stated that there are lots of Goan barges lying idle due to the mining crisis

Agriculture Dept, WRD target to produce 100 tonnes of vegetables daily Deputy Chief Minister Chandrakant Kavlekar, said that agriculture department and water resources department (WRD) are working together to achieve a target of growing 100 tonne of vegetables on a daily basis in the state by the next year.

Kavlekar, who holds the agriculture portfolio, stated that Goa requires 400 tonne of vegetables on a daily basis, while the state produces only 5 to 6 tonne per day thus making Goa dependent on the neighbouring states for vegetable requirements. The lockdown period was very tough on Goa and hence the decision to lay more emphasis on providing maximum support to the farmers and bringing more land under vegetable cultivation to help achieve the target of 100 tonne of vegetable production in the state by next year on a daily basis.

He further said that the agriculture department spends roughly `35 crore each year to procure over 400 tonne vegetables for Goa from Belgaum and distribute

Chandrakant Kavlekar

them at 1260 Goa State Horticulture Corporation outlets.

He also mentioned that meetings were held with the

officials of the agriculture department and State Horticulture Corporation.

A few schemes for the farmers were announced so

as to rope them into vegetable cultivation thus minimizing dependence on other States.

Kavlekar also spoke about the risk in procuring vegetables from Belgaum city, given that it was hit by the Covid 19 pandemic and has now, along with the Ministry, decided to encourage the local vegetable growers to cultivate vegetables, and the WRD has assured to provide them water.

The minister also disclosed that more focus will be laid on double cropping to generate more income to farmers, and added that they will be given a choice to cultivate vegetables as per the land availability

CII to manage model career centre of employment exchange CII-Goa, in association with Department of Labour and Employment will shortly commence managing the Model Career Centre (MCC), at Shram Shakti Bhavan, Patto. The industry body plans to mentor the MCC by an industry task force, which will help the

08 | Business Goa industry Dossier | june 2020

on-boarding of industry for providing employment opportunities to job seekers.

Under the collaboration, CII will facilitate job placements inside and outside the state through its network of MCCs and state offices and the digital platform. Chief Minister Pramod Sawant on June 4

launched an online portal for job vacancies. The industry body asked job seekers looking for employment to enroll themselves on the portal at the earliest with details of all their particulars, which will enable industry to expedite the process of shortlisting and employment

Corpo Scan

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Restaurants, malls unlock in Goa, amidst rising cases

The State government has allowed restaurants, religious institutions, shopping malls and hotels to reopen, but their managements will have to adhere to the standard operating procedure issued by the Ministry of Health and Family Welfare to prevent the spread of the deadly Coronavirus (COVID-19).

The managements of many religious institutions have deferred the reopening of their premises in wake of a spike in COVID-19 cases in the state.

Both District Collectors have continued the ban on

activities like gymnasiums sports complexes, auditoriums / community halls, assembly halls and similar places. The ban will also continue on opening of bars, schools, colleges, educational / training coaching institutions, cinema halls / theatres, swimming pools and socialpolitical /entertainment / academic/cultural / religious / functions / other and large congregations.

Casinos, river cruises, multiplexes, consumption of liquor in public places, entertainment parks, spa and massage parlours will also

continue to remain closed in the state. Ban will continue on the sale and consumption of paan, gutkha and tobacco in public places.

Revenue Secretary, Sanjay Kumar said it will be mandatory for all the hotels, restaurants, and other facilities that have been allowed to open, to comply with the guidelines of the government. Health Secretary, Nila Mohanan said the Directorate of Food and Drugs Administration has been asked to issue guidelines for the opening of restaurants in the State

Private firms likely to be asked to notify vacancies online The government is likely to request private companies in the state to notify vacancies on the labour and employment department’s recently launched online portal for job vacancies. All private sector companies and establishments in the state as well as local government departments are expected to list their upcoming job vacancies on the online portal of the labour department.

The online portal for jobs was launched in the state on June 4 by the Chief Minister Pramod Sawant with the goal of generating more jobs for unemployed Goan youth.

The portal aims to bridge the gap between job seekers and employers witnessed in the state.

Both, jobseekers and employers, have to register on to the online portal. Job seekers, who are registered on the online portal, have the advantage of getting immediate intimation once the names are sponsored to the respective employers.

Job seekers can also view the types of vacancies available in the state. For employers, the online portal provides the advantage of a huge pool of job seekers waiting to be tapped.

Goan industry has reacted positively to the online portal for jobs. Goa State Industries Association (GSIA), said that industries in the state were facing difficulties in getting workforce and that it was a good idea to have an online portal for Goan youth who are seeking employment, to enroll themselves on the portal, with all their details.

The Confederation of Indian Industry-Goa has also welcomed the online portal and said that it plans to set up an industry task force to put local units onboard towards providing employment for Goan youth

Mashel Mahila Co-op Credit Society placed under restrictions Discovering irregularities in the functioning of Mashel Mahila Co-operative Credit Society Ltd, Deulwada, Marcel, the state Registrar of Co-operative Societies, has prohibited the credit society from accepting deposits above `5,000 per person per month and also disbursing any loans or advances.

The Registrar has placed the co-operative credit society under restrictions for a period of six months for noncompliance with statutory requirements and failure to safeguard depositor interests.

Vide a restriction order, the credit society is banned from further collection of pigmy accounts and opening of fresh accounts, such as saving, current, recurring, fixed deposit etc.

The restriction order reveals that Mashel Mahila Credit Society mobilised deposits worth ` 9.08 crore as on March 31, 2019. However it maintained liquidity of only 2.65 per cent as against the prescribed norm of 25 per cent (20 per cent of investment & 5 per cent C.RR.) Other irregularities

10 | Business Goa industry Dossier | june 2020

observed are, casual attitude towards recovery of loans resulting huge over dues and NPA beyond permissible limit. The irregularities also include failure of the society in maintaining the required documents while sanctioning loans to its members.

The society, it is alleged, has also failed to comply with the requirements of Section 72 of the Goa Co-operative Societies Act, 2001, and deprived its general members to attend the shareholders meeting and participate in the business of the society

Three-member committee takes over Goa Dairy’s operations

The new chairman of Goa Dairy, Durgesh Shirodkar has said that the three-member committee will come out with plans that would benefit the milk farmers as well as increase Goa Dairy’s business.

Shirodkar further stated that focus will also be laid on improving milk procurement / production and bringing back farmers who have turned to Sumul.

After it was under administrative regime for 21 months, a three-member committee appointed by the government took over Goa Dairy functioning in the second week of June. While Salcete-based milk farmer Shirodkar is the chairman, Panaji-based chartered accountant Yashwant Kamat and assistant registrar of Cooperative Societies Avit Naik are members.

The Registrar of Cooperative Societies had issued an order replacing Goa Dairy administrator with a three-member committee comprising of chairman and two members. Soon after taking over charge, the three-member committee held a series of meetings with various section heads of Goa Dairy and also with the outgoing administrator Arvind Kutkar.

The government had dissolved Goa Dairy’s board due to alleged scam in its functioning and had appointed an administrator in September 2018. Since then Goa Dairy was under administrator’s rule for 21 months

Cover story 25 years is a long time in the history of an organisation – more so, when you have endured constant trials and tribulations and tasted success through sheer hard work and a vision that people around you found hard to believe.

SHEKHAR SARDESSAI’s story of building KINECO from ground-up is as inspiring as it is fascinating, writes HARSHVARDHAN BHATKULY

LANDSPACE TO AEROSPACE Shekhar Sardessai, Founder & Managing Director, Kineco Group

W

hat was started as a small industrial unit in Goa by a first generation Goan entrepreneur, Shekhar Sardessai, has today emerged as one of India’s leading and innovative enterprises in the field of composites, with its presence across multiple sectors such as defence, aerospace, railways and industrial.

Kineco recently marked a significant milestone of a glorious 25 years, since it first commenced operations on May 25, 1995.

An Entrepreneur is Born Shekhar was barely 13 when he lost his father. “My father, Ravindra Sardessai was an entrepreneur who struggled for many years from an early age to eventually taste success, but unfortunately

that success was short lived as he passed away at an early age of 47,” says an emotional Shekhar, who believes that this one unfortunate incident was to cement the desire in him to be an entrepreneur.

“While the dream to be an entrepreneur was a part of my growing up, it was always aligned to joining my

12 | Business Goa industry Dossier | june 2020

A young Shekhar with his father Late Ravindra Sardessai, at the foundation stone laying ceremony of his building construction project of the firm R. J. Sardessai and Bros

father’s business, as he was my role model. However, soon after his passing away, my aspiration transformed into an unwavering ambition to fulfil my father’s incomplete entrepreneurial journey,” he says.

Early Days Shekhar secured a Diploma in Fabrication Technology from Government Polytechnic, Panaji in 1989. Immediately thereafter, he started his career in Pune working as a Project Site Engineer for Solcon Engineers, and then moved on to Thermax Limited as Project Engineer.

He decided to return to Goa to work for one of the few multinational companies in the state then, called Titanor Components Limited (now known as DeNora) as Product Manager.

“While at my two jobs in Pune, I acquired some valuable experience in project management and equipment installation & commissioning, I had moved to Goa with the sole intention of starting something of my own; and the job at Titanor was only

a stop-gap arrangement,” says Shekhar about his early working days. However, finding that his job at Titanor was very enriching and one that gave him a wide-ranging experience as well as global exposure, Shekhar ended up spending five years with the company. “This job groomed me with its international corporate culture that became an asset as I moved into entrepreneurship in 1995. The job satisfaction and learning that I was acquiring, kept me at it for five long years. But the wait was much worth it and I acquired hands-on knowledge on product management, technology absorptions and business development.

By the time I ventured into entrepreneurship, I had a sound foundation across all disciplines of a manufacturing enterprise,” says Shekhar about the impact on his future that came out from working with a MNC. Entrepreneurship beckons At Titanor, Shekhar got involved with composites and fibre re-inforced plastics, as a novel material of construction in his various product development initiatives.

While his employer never made composites, they were integrating various electrochemical systems, which used composites. Shekhar was technically involved deeply with his vendors and suppliers in design and manufacturing techniques of composites.

This experience crystalized his entrepreneurial vision into a realizable venture in the field of composites and Mass Kinematics was born in 1995, as an enterprise manufacturing chemical process equipment from composites. “Predominantly, we used to make air pollution control systems for chemical fumes based on a process known as mass kinematics and hence I chose that name.

With a partner experienced in composites and an early stage investor (Shekhar’s

TEAM KINECO (L-R) Rohit Verlekar, Gourish Dabolkar, Swapnil Mane, Rajiv Hubli, Kapil Borkar, Aravind Kumar S R, Avanish Dwivedi, Chantal D’Souza, Shyam Ozarkar, Shekhar Sardessai, Vinay Jagtap, Manisha Shirgaonkar, Nagraj Jantli, Ravi Srivastava, Amey Sardessai and Kevin Wright

ex-boss at Titanor), Mass Kinematics started as a small manufacturing facility of 200 sq mts. Both, GIDC and EDC, Goa were very supportive of this ambition and allotted us the plot and extended the seed funding, to start our first facility at Pilerne Industrial Estate,” says Shekhar about starting his own manufacturing unit.

The initial capital outlay was Rs.24 Lakhs. Shekhar and his partner ploughed in Rs.3 lakhs each. His first investor Kabir Gama Roy, along with his partner put in Rs.6 lakhs and another Rs.12 lakhs were funded to the company

by Goa EDC. Subsequently, growth capital came in various phases through individual and institutional investors in multiple rounds of funding, over a 20-year period. The last funding round happened in 2015, when the company provided exit to all the willing early stage investors and brought in a single long term and strategic corporate investor, Indo National Kineco warriors huddled into a resolve to overcome tough times together

Limited (makers of the well-known battery brand, NIPPO).

Looking back at the 25 year journey as an entrepreneur, Shekhar reflects and says, “Frankly, the journey has largely been one where we took most of our bold decisions on the strength of our gut feeling.

In hindsight, one could think that if data was available to us, the quality of our decisions would have been theoretically better. However, hindsight is always hindsight! In practice, an entrepreneurial journey, by its definition, is a journey of exploration… full of uncertainties – and the belief in your intuition is the only compass to lead you forward.

I am happy that my team and I stayed committed to the decisions that we took with a sense of purpose and a farsighted vision.”

The project that broke, yet built the company Failure is said to be a tough leveller. It wreaks the weak

and the strong-willed refuse to be cowed down by it. The ‘Sky Bus’ project (2004) almost broke the company – and its failure to achieve commercial viability, built the resolve of what eventually became brand Kineco. “The ‘Sky Bus’ failed to take off commercially, after having invested substantial capital in the project. I still remember the day when this project was scrapped… my team and I sat around a table, joined hands and made an unwavering commitment to fight back! The picture of the team huddled together around a table, with smiles of hope and resolve remains the most memorable one in our journey,” is what Shekhar feels about owning the disappointments in business as a part of its success story.

He adds, “In all difficult times, my mother Sheela Sardessai, my wife – Shivani, son Ved and my entire extended family were my pillars of strength and gave me the courage and support to persevere against all odds.

No mountain of crisis can be conquered without this emotional support from your loved ones.”

The International Edge In the year 2000, the company carved out a strategic vision to create multiple verticals in their business, with passion and expertise for composites as its nucleus. Innovation, technology and pursuit of world-class quality standards were the drivers of this

june 2020 | Business Goa industry Dossier | 13

Cover story

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“The life of an entrepreneur is finite, that of an enterprise has to be infinite”

BG: Who and what has inspired you in your 25 years’ journey?

SS: There have been several people who have inspired me, in bits and pieces over the last 25 years – by triggering my imagination and my awe to be like them, but my father Ravindra Sardessai, my role model as a child, has been my single biggest inspiration and the driving force behind my ambition.

BG: How would you describe your company’s journey from ‘landspace to aerospace’?

SS: Our tag lines were created to define our strategic vision; and they have helped us market this vision internationally. ‘WORLD OF COMPOSITES’ meant a wideranging product portfolio in the field of composites and ‘LANDSPACE TO AEROSPACE’ represented that we made equipment for multiple modes of transportation such as automotive, railways, ships, aircrafts and spacecraft.

The ‘LANDSPACE TO AEROSPACE’ journey began in 2000, when we first ventured into the railway sector, designing and manufacturing interior systems for rail coaches. This was followed by the development of Sky Bus Coach. Although the

Sky Bus project failed to take off commercially, the feat of developing the entire Sky Bus Coach in composites was recognized as an extraordinary achievement in the industry. It received wide media coverage not only in India, but all across the world, both in the railway sector as well as in the composite fraternity. This helped brand Kineco to achieve significant international publicity and brand equity. It also gave Kineco levers to promote the use of composites in railways.

Over the years, Kineco has developed several firstof-its-kind products for Indian rail coach Interior

Systems and is today a market leader in this field.

Rail interior is also Kineco’s biggest business in terms of revenues. In 2004, Kineco ventured into advanced composites for motor racing applications. We successfully won and executed two large global formula racing car projects to manufacture and supply the entire body kits and chassis for A1 Grand Prix and Formula Renault 2.0 race series. The success with racing cars propelled us into the aerospace market, and eventually landed us in a joint venture relationship with Kaman Aerospace.

In 2010, we entered the

strategic vision. “We thought that this new vision needs a new snappy name, which will create a unique brand identity, distinct from any single product. We came up with the name ‘Kineco’ – derived as a short form of Kinematics Composites,” explains Shekhar about the next wave of his entrepreneurial journey.

Beginning 2000, Kineco started participating in global exhibitions, conferences and networking events. By 2010, Kineco became synonymous with innovation, technology and world class products. As a result of this, the company

created a strong brand identity with tag lines – ‘WORLD OF COMPOSITES’ and ‘LANDSPACE TO AEROSPACE’.

“Our pursuit of a venture into advanced composites aimed at aerospace market also gave the brand a glamorous identity. This identity uniquely positioned Kineco as a star in the Indian composite industry and attracted attention from the global composite fraternity,” says Shekhar. This visibility coupled with a reputation for innovation and best practices led to what has become one

of Goa’s finest international joint-ventures – with Kaman Aerospace, USA. “When Kaman was looking to come to India in 2011, Kineco naturally became a strong proposition in terms of brand, technology and track record. Despite a vast difference in the size of the two organizations, the chemistry between both seemed to match and bridge this gap. A culture of innovation in both the companies was a common element of this chemistry,” says Shekhar about the JV. After two years of courtship,

Shekhar Sardessai

14 | Business Goa industry Dossier | june 2020

Shekhar Sardessai, Managing Director, Kineco Group on his entrepreneurial journey field of defence, primarily focused at warship components, missile components AWACS, critical components for space rockets etc., which has eventually transformed into a fullfledged Defence vertical today. Most of our defence R&D project were first of its kind in India. For instance, the successful development of Sonar Dome for naval warships has been hailed as one of the finest stories of ‘Make in India’ in Defence and has received recognition from Ministry of Defence at the hands of Hon’ble Raksha Mantri Shri Rajnath Singh. Besides Sonar Dome, a lightweight heliportable carbon military bridge for military and disaster management applications is another feather in Kineco’s cap. In this R&D journey, Kineco immensely benefitted from the support that it has received from Defence Research and Development Organization (DRDO) and its labs such as R&D-Engineers, LRDE and Defence PSUs such as Bharat Electronic Ltd and Mazagon Dock Shipbuilders Limited, besides many others.

BG: What according to you are the moments that you cherish in your entrepreneurial journey? when both the companies became confident of a tie-up, they decided to create a joint venture entity. Kineco Kaman Composites India Private Limited (Kineco Kaman) was thus born in 2012, through hiving off Kineco’s Advanced Composite Division. The high profile launch and the inauguration of the JV’s manufacturing facility took place in January 2013, at the hands of Manohar Parrikar, then Chief Minister of Goa and later Defence Minister of India.

The association with a company of Kaman’s

SS: There are several milestones and accomplishments.

Among the early stage moments that we cherished and the one that stands out, was our success in development of Igloo Shelters for the Army during and immediately following the Kargil War. The satisfaction of contributing to the country was truly gratifying to say the least. During the middle years, the development of the filament winding technology and the Sky Bus and the recognition that these efforts received from across many stakeholders was indeed motivating.

The recent high has been to see Kineco Kaman made Antenna get launched into space, on board the Indian Regional Navigational Satellite; and the flag off of India’s first Sonar Dome developed by Kineco, at the DefExpo 2016 by late Shri Manohar Parrikar.

The recognition of our contribution towards ‘Make in India’ at the hands of Hon’ble Raksha Mantri Shri Rajnath Singh, on the Indian Navy Day in New Delhi in 2019, was another moment to cherish.

BG: How would you describe your management style?

SS: My management style has evolved gradually. From an early stage aggressive reputation and track record comes with its own perks.

“Prior to the JV with Kaman, Kineco had already developed the technical knowledge and skill-sets required for advance composite manufacturing for aerospace applications. The JV with Kaman became a force multiplier. It enhanced our manufacturing expertise and skill-sets and brought them at par with global standards. This was followed by several international accreditations such AS9100 and NADCAP, besides various customer certifications, which have created a best

entrepreneur, I believe I have matured now to look at the business with a strategic eye.

I made this change happen slowly but consciously, so that my management style does not become obsolete, as the entrepreneurship venture matures into a thriving enterprise.

I have come to recognize that while the life of an entrepreneur is finite, that of an enterprise has to be infinite.

In order for an enterprise to achieve sustainability towards infinity, it needs to stand on its own as an organization of collective leadership, aligned to a common vision. Today, I lead this vision, tomorrow somebody else would; and the organization should be able to adapt to this change in leadership without floundering.

Based on this philosophy, over the last 5 years, we have created a talent and leadership pool across all functions and tiers of leadership and this GenNext would lead Kineco in the years to come.

I am also conscious that while propagating this philosophy, the entrepreneur in me has to continue to remain agile and ambitious as long as it can. I am treading this fine balance at this point of time.

Kineco Kaman Board Members with Chief Guest Manohar Parrikar, then Chief Minister of Goa; Dr. Prathap Chandra Reddy, Chairman, Apollo Hospitals; and Neal Keating, Chairman, Kaman Corp. at Kineco Kaman’s 5th anniversary

and keeping faith in yourself is the most crucial part of an entrepreneurial journey.

True victors are those who persevere arduously tenaciously and repeatedly. It is therefore prudent for young entrepreneurs to comprehend that entrepreneurship is a long journey without a definite destination and success will take its own sweet time. An entrepreneur must relish and nourish every accomplishment in this journey and get ready for the next one. You won’t have to chase money then – money will chase you.

BG: As a first generation entrepreneur what would you advice youngsters starting out?

SS: My advice for young aspiring entrepreneurs is to firstly understand that entrepreneurship is not something that you do as an alternate income option. Entrepreneurship is something that you embark upon to realize your own dream of accomplishing something on your own.

While in a job, one also looks for job satisfaction and income; in entrepreneurship the satisfaction is derived out of being able to accomplish something surreal, which you visualize on your own.

This vision has to be a bigger driving force than just earning money. Eventually, money will happen; but if an entrepreneur makes money as the instrument of entrepreneurship, that vision will end quickly; since very few enterprises make enough money in its early years of establishment.

As you embark on an entrepreneurial journey, you may face setbacks, but in such times you need to gather yourself and march again towards your goals.

Having this perseverance

in class engineering and manufacturing enterprise in the form of Kineco Kaman,” explains Shekhar.

There have been several other learnings in Kineco’s journey with Kaman, which is a NYSE listed entity and is known for its finest corporate governance practices. “We imbibed these practices at Kineco Kaman seamlessly. Besides corporate governance, my team and I learnt several aspects of business management and administration covering risk management, HR practices, EHS philosophies, corporate

social responsibility and many softer aspects that have resulted in creating of a sustainable business enterprise. Kaman’s leadership team lead by its Chairman and CEO Neil Keating has been very supportive of the JV’s endeavours,” adds Shekhar.

In 7 years, Kineco Kaman has achieved extraordinary success and is today one amongst the two companies in India serving the global aerospace majors, with world class quality of products.

Kineco Kaman won a Gold Tier Supplier Award for its exceptional performance

and contributions to supply chain success in 2018, from BAE Systems, USA. It was honoured at a ceremony held in Manchester, New Hampshire, USA on April 2, 2019, and was selected from a pool of more than 750 suppliers that worked with BAE Systems in 2018.

With this record of accomplishment and its continuous quest for quality, on time delivery and customer support, Kineco Kaman’s reputation in the global market is poised to make a quantum leap in the years to come

BG: Where would you like to see Kineco in the next 25 years?

SS: I would like to see Kineco become India’s largest enterprise in the composites field and Goa’s largest first generation enterprise in any field. Besides, I would like Kineco to be known as an organization with good behaviour and be respected for its corporate practices on ethics, governance, environment health & safety and above all for its compassion towards society

june 2020 | Business Goa industry Dossier | 15

Cover story

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built on innovation and technology

With passion for innovation & technology and credentials of 25 years in developing world class composite products for discerning customers, Kineco has emerged as India’s most admired, diversified and fastest growing company in its field

Mass Kinematics’ modest beginning with a 200 sq mt unit at Pilerne Industrial Estate

1995-2000: The first five years was a period when the company (Mass Kinematics) was trying to find its feet starting with chemical process equipment.

“We tried multiple products and business models and most of our time was spent into exploring opportunities in the industry and getting a deeper understanding of technology evolution and trends around the world. During this period, I travelled around the world and spent extensive time in USA and Europe meeting peers from the industry, equipment suppliers, and raw material suppliers. This exposure allowed me to start shaping a strategic business vision for the enterprise,” says Shekhar about the beginnings of his entrepreneurial journey.

A significant highlight of this period was the company’s

engagement with design and development of unique Igloo Shelters for the Indian Army at the Leh-Ladakh Sector, during and immediately following the Kargil War. “It was a thrilling opportunity to be able to work with our armed forces right on the battlefield of Kargil for several months, as we manufactured and installed over 500 Igloo Shelters in base camps and hills in Kargil and Drass areas. Living in the camps with the armed forces on the frontier of the country is an experience etched in my memory lane,” adds Shekhar.

2001-2005: Armed with exposure to global technology benchmarks, the company decided to carve out a strategic business vision for the enterprise centered around its passion for

Composite Igloo Shelter for Kargil

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Kineco’s Board Chairman, Aditya Reddy and Shekhar at the unveiling of Kineco’s Silver Jubilee logo

composites, truly described by the tagline: ‘Composites our passion, Innovation our mission, Technology our focus and World Class Products our commitment.’

Right from its initial years, the company had started thinking about developing composite pressure vessels using the advanced multi axis filament winding technology.

At that time, this technology and the related equipment were not available in India.

So Shekhar travelled around the world and chose a technology partner from the U.S. However, to his disappointment, by the time Kineco was ready to sign with the technology partner, India was put under sanctions by the United States, following the Pokhran Nuclear tests, which proved India’s capability as a nuclear power.

“We were clearly told that multi-axis-filament winding technology, being a sensitive dual application technology used to make missiles and strategic weapons, would not be available to us. My team

and I though disappointed, were determined to make this technology happen. We approached the Ministry of Science and Technology, Government of India through TIFAC (Technology Information, Forecasting and Assessment Council).

TIFAC, at that point of time, was running a programme known as ‘Composite Development Mission’ led by a very passionate S Biswas aimed at developing strategic technologies in composites.

Our project was selected for this funding and we received a soft funding of Rs. 1 Crore from TIFAC, to indigenously develop the filament winding technology, with IIT Bombay as our R&D partner supported

by Prof S C Lakkad. We put together a team of talented engineers and consultants and worked with a Hyderabadbased Indian company, with expertise in special purpose machines led by a dynamic engineer-entrepreneur Vijay Krishna. We were also helped in this project by our lead raw material supplier M/s

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Mechemcho Resins whose promoter Pradip Thakkar has also been one of my finest mentors and technology guide. In less than a year, we not only developed the technology and equipment but also launched our composite pressure vessels as a product in the market.

The project was a runaway success and we received lot of accolades across the industry segments for this feat. The development of indigenous filament winding technology benefitted a large number of aspiring entrepreneurs who have used this technology over the last several years with resounding success.

The manufacturer who built our first machine went on to supply many machines for Indian customers as well as export several of them globally, including to the United States. It was truly satisfying to see our effort benefitting not just us, but the whole spectrum of industry and the country. This filament winding technology remains

(Above): JEC 2018, (Right) Sky Bus developed by Kineco (Below) Kineco Kaman Facility

central to many of our defence equipment programs,” says Shekhar.

The second milestone of this era was the development of Sky Bus Project which gave the company wide media exposure and respect among its peers.

2005-2010: This period shaped the company’s ambition with the establishment of Advanced Composites Division, aimed at the aerospace market.

Kineco also won the coveted Global JEC innovation award for a unique composite

product developed using the filament winding technology.

The company also executed two major Formula Racing Car Projects.

2010-2015: This was the most defining period during which the entrepreneurial venture evolved into an enterprise.

In 2012, the milestone was the formation of a JV with Kaman Aerospace.

The second milestone was in 2015, when the company brought in a strategic corporate investor – Indo National Limited, with a substantial

investment to fuel its growth appetite. “While the JV with Kaman helped position ourselves as a major player in the aerospace composites field, the investment from Indo National Limited was a turning point in our Balance Sheet. The entry of two large corporate investors – Kaman and Indo National Limited in our business can truly be described as turning point in our history,” says Shekhar.

2015-2020: Fuelled with capital and backing of its corporate strategic investors, there was no looking back for the Kineco Group. “All the energy that my team and I had put in with years of innovation, technology and brand building truly evolved into revenue growth and scale during this period where we have graduated from a small-scale industry into a fast growing enterprise,” says Shekhar with pride

(L-R): Receiving the Gold Tier Supplier Award from BAE Systems, USA; Shekhar with Pyrogen Ignitor for Satellite Launch Vehicles developed using Filament Winding Technology; Felicitation at Indian Navy Day 2019 by Defence Minister Rajnath Singh and Minister of State for Defence Shripad Naik

june 2020 | Business Goa industry Dossier | 17

focus goa / industry

@businessgoa

Industry Recovery after Lockdown

Goa’s manufacturing stakeholders speak on the long road to recovery as the lockdown is relaxed

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By sybil rodrigues

orona has brought manufacturing activities and related industries in Goa, to its knees due to repeated lockdowns imposed all over India.

Much as manufacturing activity was one of the first to be released from lockdown restrictions, the local industry has a long way to go in order to recover from the ongoing pandemic.

Members of the Goan industry are of the opinion that it will be quite a while before industrial operations come back to normal.

President of CII-Goa, Blaise Costabir states that the Pandemic broke out all over the world much before it did in India, and though the government had sufficient time to act, they were busy with less important things to notice the incoming storm.

By the time the Government decided to act, the only option was lockdown. Much as the state and the country are opening up now, Blaise says that, “The industrial wheel not just in Goa but India and many parts of the globe has been brought to a grinding halt. Now making it turn again is going to be a huge task, some industries will not start again and specific sectors – airlines, hotels, travel agencies to name a few – will be hard pressed to come back to life. Fortunately, trains are public sector in

India and they can stop and start at will. The new SOPs like social distancing masks and hygiene requirements will add costs along with gaps in shifts etc. Transport will become more expensive and many will shift to personal vehicles thus increasing the traffic issues.” He also states that the biggest issue as far as restarting the supply chain goes, is the fact that trucks are stranded all over the country with no drivers available.

“Where there is production, there are no vehicles; and where there are vehicles, there are no drivers. Given the varying SOPs at State borders, truckers prefer to stay home.

This leads to a steep rise in the cost of goods”.

Another issue that he points out to is the difficulties related to labour. “The sudden lock down put the daily wagers into turmoil. They were hard pressed to be able to feed their families. They had to depend

18 | Business Goa industry Dossier | june 2020

on handouts. This pushed them to decide to return to their safe haven i.e home, no matter the difficulties faced by them in getting there. This led to a mass exodus of workers and the Government was forced to resume the trains, albeit a bit too late.” He feels that while the exodus was acceptable for some industries like hotels and shacks in Goa; but those dependent on labour like construction and farming will be the worst hit.

Regarding the procurement of raw materials as well as supply of water and electricity to manufacturing units and industrial estates, Blaise maintains that it will take time for the situation to stabilize as many places are still locked down. “While the supply of electricity and water has been consistent during this period, the Government insists on charging at contracted demand despite the order to shut down industries. Now, post re-starting also work is not happening at full capacity, so costs are high. For example, hotels which are closed due to government orders; but they have to pay the full bill and the price of diesel has also been raised.

At this juncture, Blaise maintains that the only way ahead is to stay optimistic and try out different opportunities when it comes to ones business. “Use the lull to analyse your portfolio of products, discard loss making items, find new product lines that would be necessitated by this situation, train your people.

The industrial wheel, not just in Goa, but India and many parts of the globe, has been brought to a grinding halt” Blaise Costabir President, CII-Goa

You will do well to find ways to reduce labour intensive operations, invest in low cost automation, see where IOT can be implemented in your business. If you do not have an ERP, get one as it will make sense; move to cloud to free your place of servers that need maintenance, and upgrades.

There will be time use it well.”

Pravin Kakode, trade and manufacturing entrepreneur, says that “Uncertainty is a reality of life, but one like this, of such gigantic proportions, is unprecedented and will transform the way we live.

Industries in Goa are facing excruciating pain on account of disrupted supply chain, displaced labour and most importantly uncertain future.

The Government is surely very high on intention but I feel far more emphasis is needed on execution.” Pravin states that Goa was in a slowdown mode much before the pandemic and now coupled with the lockdown, matters have taken a very serious turn. Much as he is of the opinion that businesses slump during the monsoon, necessary steps have to be taken to remedy the situation, else there is a likelihood of several units winding up by the time monsoon ends. Pravin adds that the need of the hour is to rethink the way one runs their business. “I feel the need of the hour is to go back to the drawing board and rethink the way we do business, the way Government deals with business, the ‘ease of doing business’ in the true sense of the term.”

Damodar Kochkar, Managing Director of Ultratech Automotive; a first generation entrepreneur and, presently, President of Goa State Industries Association (GSIA), speaks on the outbreak of the pandemic across the world and its effect on the country and state.

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“The outbreak of the novel Coronavirus (COVID-19) has put the global and national economy into a crisis which is unprecedented in modern history.

The lockdowns imposed in India from the end of March 2020 to contain the spread of the disease and closure of economic activity created panic and fear amongst the people.”

Damodar goes on to explain about lockdown stating that the initial lockdown forced closure of industrial activity, the supply chain of essential goods was disrupted and many daily wage earners lost their livelihoods. The migrant workers with no money and essential supplies were the most affected lot.

At this hour of need, GSIA, with the assistance of all Industrial Estate Associations and support from the State Government, came forward to help the migrant workers by distributing essential supplies.

Regarding the status of industries in Goa after Covid-19, Damodar says “COVID-19 has completely disrupted economic and manufacturing activity globally as well as nationally.

Goa was not an exception to this. Though Goa had few cases but the manufacturing activity depended on other States for the supply of their raw materials as well as for sale of finished goods. It was only under lockdown 2.0 that GSIA initiated a dialogue with the State Government to formulate a plan to restart industrial activity in Goa. Data was collected from all the industries which wanted to restart their activity with minimum workforce and agreeing to comply with all the requirements of the Government to control the spread of the Coronavirus.

Travel passes were issued to the industries to restart the activity.”

Damodar then speaks

about the various difficulties faced by industries when it comes to labour, procurement of material, logistics and supply of electricity and water during the lockdown period.

“Though the Government has permitted to restart industrial activity, most of the industries could not function to their full capacity in the absence of their key workers and supply of raw materials. Also, transportation of finished goods was affected. Trucks with goods were held up for days together at various check posts. In these trying times, it was very difficult for the small industries to pay even their utility bills. Many of the industries had workforce from neighbouring states who could not come back to join duty due to lockdown.

Standard Operating Procedure (SOP) was put in place to get back such stranded employees and GSIA assisted the Government to get back such employees to join duty. Supply of water and electricity was as usual but it was of no use without other inputs required for manufacturing activity like labour, raw materials and demand for produced goods.”

With regards to the support received from the Government, Damodar states that several demands were submitted to the State Government for revival of

“The State Government has been supportive, but has not been able to meet any of our demands to manage our cash flows”

Damodar Kochkar

President, Goa State Industries Association

industries in Goa such as financial assistance to pay wages, waiver of fixed charges and duty on power bills, payment of pending dues to MSMEs, freezing of recently announced increase in VDA, introduction of 12-hour shift for manufacturing industries etc. “The State Government has been supportive, but has not been able to meet any of our demands to manage our cash flows.”

The Central Government EPF support scheme of 24% contribution by the Government under Pradhan Mantri Garib Kalyan Yojana (PMGKY) has not been of any help to industries in Goa. The salaries in Goa being higher than many other States, it is very difficult to meet the norm that 90% of employees should earn less than `15,000 as monthly salary. The GSIA has written to the State Government as well as to the Union Minister Shripad Naik to take up the issue with the Central Government and make the scheme applicable to all the employees earning less than `15,000/- irrespective of percentage of such employees in a company.

The announcement of `20 lakh crore stimulus package by the Prime Minister was a welcome move. Unveiling the details of the stimulus package, the Finance Minister said that 3 lakh crore collateral free loans will be given to the MSMEs out of total package of `20 lakh crore. The four-year loan with one year moratorium, with interest rate capped at 9.25%, fully guaranteed by the Government should enable MSMEs to kick-start their operations. However, this depends how proactive the banks will be to implement the decision at the ground level.

Damodar concludes with his thoughts on the way ahead after Covid-19.

“It is difficult to predict the outcome of detrimental

“Industries in Goa are facing excruciating pain on account of disrupted supply chain, displaced labour and most importantly, uncertain future”

Pravin Kakode

Founder, Upgrade

effect of COVID-19 on global and national economy till a permanent cure for the disease is found. Even if the virus is completely eradicated, it will take some time for revival of demand and supply of business. The negative effect will be much more on Goan industries as the raw materials as well as the supply of finished products depend on upcountry markets. The State Government should support the manufacturing industry as it is one of the main revenue earners for the Government after the closure of mining and setback to Tourism. We suggest that State Government should procure locally manufactured goods for all their requirements, provided that they match the quality and price to boost local demand.”

It is clear that the local industry has a mammoth task on its hands with regards to the recovery of production. It will take its time but revival is not impossible. Whether the industry recovers completely or no, depends on a lot of factors and unless the overall economy opens up it looks like an uphill task.

Hopefully, with the opening up of the country, baby steps are being taken in this direction and the industry will see a revival in the coming months

june 2020 | Business Goa industry Dossier | 19

focus goa / tourism

@businessgoamagazine

Coronavirus-led lockdown strikes terror upon Goa’s Tourism and Hospitality sector

Goa’s tourism and hospitality sector is facing one of its worst nightmares owing to the sudden outbreak of the COVID-19 pandemic across the globe. With several hotels and hospitality destinations being forced to shut operations due to the lockdown, diverse stakeholders ponder upon their present condition and contemplate what the future holds for them

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By ameya nayak

ourism is one of the chief sources of revenue for Goa, and is a go-to destination for both domestic as well as global tourists.

Where the COVID-19 pandemic has completely crippled the economy of the State, the constant trepidation encircling the fact that a large number of people employed in the tourism and hospitality sector could lose their jobs as a result of the virus-led lockdown has now become a reality. Moreover, the present lockdown guidelines and upcoming interruptions in the travel business could also have a potentially fatal impact on those who rely solely on tourism and hospitality related businesses for their day-to-day earnings.

Even before the catastrophe struck, various concerns regarding an already ‘down’ Goan tourism sector

“Travel bubbles must be opened up with respect to relatively safer tourist destinations, using the trial and error method; and depending on the outcome, a further call on continuation or discontinuation of the experiment may be taken”

Jack Ajit Sukhija Partner, Panjim Inn

suffering loss of revenue and downbeat media hype were brought to the notice of the Chief Minister, Dr Pramod Sawant – this being a result of escalating crimes, annoyance to tourists such as the taxi issue, availability of cheaper alternative travel destinations as well as degraded levels of infrastructure in the State.

Further, sudden cyclonic weather and occasional rain showers during the tourist season also led to lesser number of tourist arrivals thus further affecting tourism and hospitality related services across the State.

However, the pandemic has led to the total collapse of the tourism and hospitality sector in Goa where every outlet ranging from a five star hotel, to beach shacks, to restaurants have incurred major losses of income, few of which are almost on the verge of permanent closure.

Majority of the hoteliers who are dependant on tourism for revenue generation have labelled the circumstance as a ‘nil- income’ situation, while pointing out to certain factors such as elevated levels

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“It is going to be a very difficult task to revive the loss of business and I am afraid, most people will not make it”

Atish Fernandes

Director, First Class Holidays

of rent and maintenance costs, hefty electricity and water consumption bills, staff salaries, discarding perishable stock and the overall uncertainty that dangles over their business stating that it has sent shock-waves across the functioning of the overall industry!

The Goa Tourism department has shown increasing concern over the deteriorated state of affairs while deciding to seek financial aid from the Centre for its stakeholders to

overcome the present revenue crisis that they are hit with due to the outbreak of the pandemic.

While the State Tourism Minister Manohar Ajgaonkar has stated that he has officially written about the tourism sector’s grievances to the Goa Chief Minister for fiscal assistance, he also revealed about the formation of a committee headed by the State Finance Secretary Daulat Hawaldar to conduct appropriate research on the exact situation and take the decision on how much fund is to be disbursed to which stakeholder.

The State additionally desires to introduce a financial package for restaurant and shack owners, hoteliers, and others who are dependent on tourism with the sole objective of restarting their sunken revenues.

With the State not permitting tourists to enter Goan borders anymore, the future of the tourism and hospitality industry certainly appears bleak all due to the global slouch that economies have suffered in general and more particularly due to the COVID-19 pandemic.

‘SURVIVAL OF THE BUSINESS AT STAKE’ Nilesh Shah, President of Travel & Tourism Association of Goa (TTAG), while analysing the situation states that mankind has not witnessed such unprecedented times since almost a century.

The tourism sector, according to Nilesh is the first victim of the pandemic and will sadly be the last sector to recover.

Further, elaborating his views on the present status of the tourism and hospitality sector

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“The Government needs to release tourism from its bureaucratic constraints” Founder & Partner of Purushottam Bhagwan and Associates, Nilesh Shah has been involved with the Goan travel and tourism business for the last 28 years. He has been associated with TTAG for the last 27 years and held various positions since 1995 including that of the Vice President of the TTAG for two terms.

Moreover, he has also been the President of the Rotary Club of Panjim for the year 2016-17, as well as chairman of TAAI Goa Chapter for 3 terms and further served as the president of JCI Panjim in 1998. Nilesh is currently the incumbent President of the Travel & Tourism Association of Goa

at the cost of our health. We need to protect our health and lives for a day when we can do business without fear of the COVID pandemic.

Where do you think the Tourism and Hospitality sector in Goa stands after the breakout of the COVID pandemic?

Goa is one of the states which have relatively remained better off under the circumstances of the pandemic. Even those who have tested positive do not have a social existence and are quarantined. We need to test every tourist whenever he enters Goa by any mode of transport. I am not opposed to the opening of tourism in Goa, as I am aware that we need to survive amidst the pandemic. The industry is lamenting for business and we need to lend an ear to the voices of the industry; but not

How has the pandemic affected the working of TTAG in particular?

The Pandemic has not really affected the working of the TTAG as such. On the contrary, on account of the Pandemic, we are working much more than ever before.

We at TTAG have a strong Managing Committee with proactive members packed with potential and ideas that can aid in the better functioning of the Association. I would also like to highlight the contribution made by our past president, Francisco de Braganca, who as a member of the COVID Economic Assessment Committee, has done his best

in Goa, Nilesh says that Goa occupies a unique position in the tourism world and thus he is hopeful that Goan tourism and the hospitality sector will certainly rise above the pandemic. He further says “I am not opposed to the idea of re-opening the doors of tourism in Goa. It is a fact that we need to survive. The industry is lamenting over loss of business hence we need to pay heed to the voices of the industry, but not at the cost of our health. We need to protect our health and lives for a day when we can do business without having

any fear of the COVID-19 Pandemic.”

Additionally speaking of the working of the TTAG during the pandemic, Nilesh mentions that the pandemic has not really affected the TTAG as the association has been working much more than ever before as the staff has risen to the occasion and is performing beyond his expectations. Nilesh further states that, the TTAG has a strong Managing Committee with proactive members who are packed with potential and ideas that can aid in the better functioning of the Association

in putting forth the demands of our industry for ease of doing business.

Nilesh Shah

What are the major challenges that TTAG is facing due to the outbreak of the pandemic?

The major challenge is to take a call on when and how Goa must open up for tourism and tourists. It is a million dollar question for which there is no clear answer. The whole world looks forward to visit Goa. The moment people get an opportunity to come to Goa, they will come in hordes.

Also, once the tourist season begins, we should be in a position to manage the load of testing incoming tourists.

What do you think is the way ahead for the tourism and hospitality sector in the State?

My appeal to the Government is to see that everyone entering into Goa is tested upon immediate entry and not just 48 hours before departure.

In case the tourists tests positive, the procedure we are following now should be followed. Internally, we can open the economy without letting COVID positive cases to come into Goa. If we take these necessary precautions, we can certainly revive the tourism and hospitality sector in the state. and the tourism industry. As far as the foremost challenges to the TTAG during this time is concerned, Nilesh says that the major challenge is to take a call on when and how Goa must open up once again for Tourism and tourists. While mentioning that this has to be done in a gradual and calibrated manner, Nilesh says that the goal must be to protect the brand that is Goa, by keeping the State safe in every way possible!

In order to kick-start the sunken travel and tourism sector in Goa, Nilesh suggests that the Government needs

What are your suggestions for kick-starting the travel and tourism sector in Goa? In my opinion, the Government needs to release tourism from its bureaucratic constraints. We need ‘ease of doing business’ if we are to flourish. Numerous licenses need to be done away with. I do not understand as to why we need a NOC from the local authorities when the building wherein the hotel is located has been approved by the Planning Authorities who have technical expertise to do so and why we need multiple licenses thereafter. Such licenses should be deemed to be granted and registered for taxation and fees. We have created multiple layers of approvals and have thereby slowed down the growth of tourism in the State. We should also look into basics as to why tourists would want to come to Goa. According to me, they visit Goa for its scenic beauty and exceptional heritage and we need to preserve and revive that. For example, revive the Dona Paula Jetty, convert the Adil Shah Palace into a museum, and provide clean beaches across Goa. In addition, we must also look at permitting hassle-free transportation within the State as per convenience of the tourists to release tourism from its bureaucratic constraints and provide ease of doing business to flourish in the long run.

‘GOVERNMENT SUPPORT NEEDED’ Ninil D’Souza, owner, Bottlebay beach shack, Baga while reacting to the circumstances says that there is no pre-determined protocol to react to this sudden catastrophe and that life is never going to be the same again. He further says that change is an inevitable part of life and all we can do right now is to focus on the

june 2020 | Business Goa industry Dossier | 21

focus goa / tourism positives and adapt to this new normal.

He further mentions that as far as the food and beverage and restaurant sector is concerned, safety and hygiene is paramount and contactless procedures coupled with social distancing will have to be the new norm.

Innovation and technology will ultimately decide whether the business survives or not.

While commenting upon how the pandemic has affected the business of his shack, Ninil says that “with the lockdown in place and borders being sealed, there is no business! I had to make the hard decision of breaking into my savings in order to support my faithful staff. Needless to say, this is at a huge personal loss and not everyone is in a position to do the same.”

In addition, Ninil mentions that, with tourism on an indefinite hold, survival is at stake which makes him hope for Government intervention at the earliest in the form of interest-free moratoriums for SMEs, free renewal of licences and rebate on GST/VAT paid earlier. Ninil further says that failure on part of the State mechanism to create a holistic roadmap for economic recovery and sustenance will lead to bankruptcy for the Goan tourism stakeholders.

‘TRAVEL SECTOR HIT THE HARDEST’ Atish Antonio Fernandes, director, First Class Holidays, a travel agency in Panaji says that Goa’s tourism and hospitality sector has been hit the hardest with many employees losing their jobs and employers losing their very businesses.

While speaking about major loss of business with to the travel trade, Atish says, “Years of struggle, dreams and hopes that people have put in to make their businesses successful are unfortunately shattered post the COVID 19

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“Our priority is to ensure job security in these trying times; however, this will come at a cost to the ownership” Guitry Velho

Vice President & General Manager, Heritage Village Resort & Spa, Arossim

pandemic. It is going to be a very difficult task to revive the loss of business and I am afraid, most people will not make it. Many more will lose jobs. But the demand to travel to Goa will return soon, provided we have determined and specific marketing campaigns in place to attract visitors back and also target new markets to Goa.” ‘COSTS CONTINUE TO ESCALATE’ Jack Ajit Sukhija, partner, Panjim Inn, Fontainhas alongside being the Vice President, (North Goa) at Travel & Tourism Association of Goa (TTAG) and the Chairman, GCCI (Tourism Wing) says that the COVID 19 pandemic has totally destroyed his business and has left them with little to almost no revenue coming in at the moment; however, the costs still continue to mount.

He says that the lockdown has sadly led to a situation where they had no choice but to shut shop and have been permitted only recently to open up, subject to adherence to special conditions.

Speaking upon the aspect of supporting their staff, Jack says that they have managed to strike an understanding with their staff members that they will certainly be called back to work as and when the business begins to revive.

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Commenting upon the way forward, Jack says, “Its best to get used to this situation as COVID is clearly not going to go away anytime soon and we have to eventually learn to live with it.

The mantra for now is to look at each day as it comes and combat the circumstances as they exist. Hopefully, Goa’s tourism and hospitality sectors will get to see visible improvement in about 3 months time. If possible, travel bubbles must be opened up with respect to relatively safer tourist destinations using the trial and error method and depending on the outcome, a further call on continuation or discontinuation of the experiment may be taken.

What is of utmost importance is being extremely cautious and treading carefully as life is after all, above everything else!”

‘OUTSTANDINGS & DUES’ While offering his comments on the sunken situation Guitry says, “The COVID-19 pandemic has affected the Goa’s hospitality, travel and tourism industry drastically resulting in all related businesses coming to an absolute standstill. These are unprecedented times and totally unexpected

“With the lockdown in place and borders being sealed, there is no business! I had to make the hard decision of breaking into my savings in order to support my faithful staff”

Ninil D’Souza

Owner, Bottlebay Beach Shack

scenarios for all of us in the travel and tourism industry.

The situation unfolded so drastically, that it caught everyone unaware thereby making it impossible to have any exigency plans. Although hotels had a decent closure for 2019-20, there have been a lot of outstanding payments to the hotels from all their partners. This has ultimately affected the cash flows of the hospitality stakeholders.

Additionally, due to the closure of business, the first quarter of April May June of 2020-21 has seen zero revenues!”

He further says, “We have managed to retain all our employees as it been our Chairman Arjun Sharmas directive to pay full salaries for April –May- June and as long as we can. Our priority is to ensure job security in these trying times; however, this will come at a cost to the ownership.”

In addition, Guitry says that the way forward is to obviously find a remedy to the pandemic so that life can return to normalcy at the earliest. Considering that various tourist destinations have opened up across the globe in a staggered manner, a state like Goa where 15 – 18% GDP is dependent on tourism, it is essential to slowly open up tourism in Goa in a similar fashion – a staggered opening ‘unlockdown’ with strict safety protocols and guidelines in place for prospective clients and employees.

“The need of the hour is to put constant hygiene and sanitation related SOP’s in place whereby hotels will provide safe, sanitized and secure place for guests to stay.

We all look forward to better days ahead,” adds Guitry.

As the tourism sector struggles to make sense of the pandemic driven uncertainty, the stakeholders are thinking of innovative ideas to get back to business

focus goa / restaurants

www.businessgoa.in

Restaurants prefer takeaways over dine-in

After the Union Ministry of Home Affairs (MHA) issued guidelines to kick-start ‘Unlock 1.0’ in the State, the Goan restaurant industry preps for vigilant resurrection

A

By ameya nayak

fter being entangled in a lifeless spell over the unremitting spread of the Coronavirus, Goa saw the light of the day earlier this month after the Central Government granted certain relaxations followed by a fresh set of guidelines and protocols in place for re-opening of restaurants for dining in.

When the Chief Minister Dr. Pramod Sawant said that restaurants would open up with strict adherence to social distancing and hygiene related norms, the Goa Hotel and Restaurant Owners Association, in a recently held meeting made a call to open only 25% of

“We were the first standalone restaurant in Panjim to start the home delivery and takeaway system, post the initial lockdown announcement thus welcoming the trend” Akshay Quenim Founder, Tataki

the restaurants in the State.

Restaurants that were already in operation with respect to takeaways and home deliveries were to be given top priority. Moreover, as much as all restaurant owners wish that they could re-open and achieve normalcy at the earliest, it does not seem like a possibility as most of the restaurant staff have quit their jobs and left for their home towns during the initial phase of the lockdown.

Various suggestions such as screening customers upon entrance using thermal guns, checking their body temperatures, ensuring sanitization before entry into restaurants and maintaining highest levels of safety at the kitchens have been taken into consideration.

Reacting to this development, few restaurant owners across the state have shared their views pertaining to the present set up.

Vinod Shetye, owner, Anantashram, Vasco says “It’s true that the Government has now given permission to open restaurants for diningin; however, we have chosen not to go for it and continue with our existing system of deliveries and takeaways primarily because we do not want to take any kind of risk associated with restarting the dine-in system. As it is, the COVID situation in Vasco is pretty serious with the number of positive cases increasing every day, and

our restaurant being located at Vasco is at higher risk!

Secondly, Anantashram is a ‘family’ restaurant. However, no families, as such, are willing to step out and take the chance of exposing themselves to an unsafe environment.”

Akshay Quenim, founder, Tataki, Panjim says “We have taken the call not to reopen our restaurant to dining in, not because of the Government norms or anything, but because we personally feel it is not the right time to do it; and be responsible citizens and remain closed for some time till the situation gets better. It is risky, as opening restaurants to dining in would mean exposing everyone to public gatherings thus elevating the chances of contracting the virus. We were the first standalone restaurant in Panjim city to start the home delivery and takeaway system, post the initial lockdown announcement.”

Rommel D’Souza, owner, Peppers Gourmet Cuisine, Margao says “People have still not gotten used to the ‘eating out’ scenario. Although the Government has allowed us to open up, we have not been permitted to serve alcohol.

Further, we have directions to shut shop at 9 pm and people hardly begin dinner at that time. So that has affected our revenues severely. I have opened up the restaurant for dining-in where about 5-6

“We have chosen not to go for the dine-in option and will continue with our existing system of deliveries and takeaways, primarily because we do not want to take any kind of risk associated with restarting the dinein system”

Vinod Shetye Owner, Anantashram

tables are occupied in the afternoons but not a single one at night. Additionally, since the lockdown, people have become a lot more careful with respect to their spending capacity, hence they hesitate to visit restaurants.”

Where the State has made calculated decisions regarding recommencement of restaurant operations and administrative mechanism is doing the best they can; achievement of pre-COVID normalcy is something that we will still have to wait for

“People have still not gotten used to the ‘eating out’ scenario. Further, we have directions to shut shop at 9 pm and people hardly begin dinner at that time. This has severely affected our revenues”

Rommel D’Souza

Owner, Peppers Gourmet Cuisine june 2020 | Business Goa industry Dossier | 23

starting Young

@businessgoamagazine

savni pai panandiker

Custom Mask your Wardrobe

Savni Pai Panandiker has been working with her mother’s brand ANTARANG to make beautiful hand-painted reusable cloth masks as a response to COVID requirements

By nadine monteiro

W

hether you’re taking a trip to the grocery store, the bank or just going on a run, one thing you probably always have on you these days is a mask. In a world where face masks have turned into a hot commodity, fashion and designer brands have been leveraging their skills and resources to produce custom masks. Given the prevalence of mask selfies too, people have started to accept masks as fashion items, rather than merely a functional accessory; and since it looks like we’re going to be wearing cloth face masks for a while, there’s all the more reason to find one that you like. Some budding Goan entrepreneurs too, have taken this opportunity to showcase their skills while providing a safety net for the community.

Savni Panandiker is a Ux / Ui designer by profession and a fine arts graduate from Goa. She graduated as an Applied Artist from Goa College of Art last year and moved to Mumbai to pursue her Masters in UX / UI design at India School of Design

Savni Pai Panandikar

Colourful and creative face masks

and Innovation-Parsons, Mumbai.

Her mother Resha, owns a women’s ethnic fashion boutique called ANTARANG in Margao. ‘Antarang’ means flaunting your inner beauty and the brand stands by that motto. Hence the store provides a diverse range of women’s outfits to cater to everyone’s individual wants and needs. The store’s unique selling point is its versatility and their custom designs.

Whenever Savni is in Goa, she helps her mother in the designing, customisation and branding which not only is helpful to the boutique but also allows her the freedom to exercise her artistic abilities.

Due to the rise of the COVID-19 pandemic, Savni, much like many other students during this time, had to come back home. When the state went into lockdown, the store was shut and business had ceased. After about a month of having nothing to do, an idea struck her. The world had started to witness a new ‘normal’ which also included a new accessory – one that had become a

Savni Pai Panandiker is a Ux / Ui designer by profession. She graduated as an Applied Artist from Goa College of Art last year and moved to Mumbai to pursue her Masters in UX / UI design at India School of Design and Innovation-Parsons, Mumbai

24 | Business Goa industry Dossier | june 2020

long term and compulsory necessity – the reusable face mask.

“As I ventured out to get a mask for myself, I was not happy with the pale dull green, grey, black or white coloured masks available,” says Savni. She knew that if it was something she would need for a while, it might as well be aesthetic and appealing. That’s when she decided to put her designing skills to use and painted her mask with some beautiful floral designs. Everytime she left the house wearing the designer mask, everybody around her appreciated it and asked her if she could make

one for them. So what started as a small personal hobby turned into a business.

Once lockdown restrictions were eased and the market had opened up again, her mother started making cotton masks and selling them at her store. Savni started hand painting a few masks for the store and thus a collaboration began. Every customer who visited the store loved the hand painted masks and the demand for it rose tremendously.

“Our main business strategy, I must say, was the need of the hour and an addition to the evolving fashion trends in the market.

Most of their customers love customised products which are crafted according to their needs,” Savni explains.

Since her mother was already making and selling cotton masks at the store, the task of reaching potential customers was also reduced.

COVID 19 has tremendously affected all businesses a lot right now. However, providing customers with the right products at the right time is what ANTARANG has always believed in and is the reason they’ve gained all the appreciation and love that they have from their customers.

Making customised masks which are washable, comfortable and wearable for daily needs is an innovative and adaptable solution to the current needs of customers and Savni and her mother are doing their best to provide people with it. Looking at the current situation of this fastpaced pandemic and the rise in COVID-19 cases in Goa, health, safety and security will alway be the utmost priority to all and wearing a mask will be one of the major fashion accessories for the years to come

enterprise

On the 10th Anniversary of Goa’s largest business networking organisation, Business Goa congratulates the

stars of

MANOJ PATIL / Armour Office Automation

The Office Automation Leader

Manoj Patil is known in trade circles for having been a first mover in the office automation business

A

By ameya nayak

round 29 years ago, when the trends were changing, and there was general acceptance of change in work culture, which boosted the necessity to be effective and organized in the residential and corporate segment.

This very necessity is what led Manoj Patil to start his business of Home & Office Automation services, which includes installation of CCTV Surveillance Systems, EPABX Systems, Video Conferencing Equipments, Audio System Conferences, Video Door Phones, Access Control System & Time Attendance System under the brand “Armour Office Automation” and since then they have been providing Sales and Service Support to various sectors. Their key clients vary from Large Industries to Educational Institutes & Organizations, Hotels & Hospitality Units, SOHO, Government Departments, Defence Units & Residential Complexes, including high end individual clients, too.

Starting his Enterprise After securing a degree in Electronics & Telecommunication and gathering substantial experience of marketing communication equipments at Chowgule Industries Ltd., Manoj Patil, launched Armour Office Automation, as he always wanted to start a business enterprise of his own.

Like all businesses, his business also has seen gloomy days, but according to Manoj, the ‘Never Give Up’ attitude and optimism of his team contributes immensely towards evolution and graceful acceptance to change.

This not only brings a culture of growth in the organization, but also helps stabilizes the

Manoj Patil

business in extremities.

At Armour Office Automation, Manoj believes that ‘People buy hence People first’ followed by the organization, brand and finally the product. The priority is to immediately address and resolve the problems faced by their clients, rather than just pushing their products. The intent is to provide a solution for the problem at minimal cost. As a result, majority of their clients have been loyal to their services since their very first purchase and that for Manoj, is their most precious testimonial.

The BNI Edge Speaking of his association with BNI (Aparant) and being one of its first members in the Goa region, Manoj says “BNI has been of massive assistance to our brand and we are fortunate to be associated with this organization for 10 years now. When Rajkumar Kamat, master franchisee of BNI Goa, approached me to be part of this unique referral

26 | Business Goa industry Dossier | june 2020

organization, I was on board within minutes of hearing out the concept and idea!”

According to Manoj, the concept of carrying out a business by connecting with each other is a wonderful way to multiply your business opportunities.

Manoj has led the BNI in Goa three times, and today he contributes his expertise as the Senior Regional Director looking into areas of promotion of BNI in Goa. The goal is to promote the BNI concept to all Goan businessmen to help them explore the various opportunities available.

The COVID-19 Challenge Speaking about the current COVID-19 pandemic that has struck the globe, Manoj says “In challenging times, your network and your credibility will always stand by you and this has been proved to us time and again, including this time of the year when the world is in crisis.

The COVID 19 pandemic was a sudden shock to the world

and no one has escaped from its impact. Like all businesses, we also had a tough time handling the problems in the initial stage when the lockdown was announced.

Our clients called up for support as they were stuck at different places and needed upgrades or new products to monitor their homes or offices. Most of the clients wanted to access their camera footage on their mobiles as they were concerned about their precious belongings. The CCTV live footage would give them assurance of the safety of their people and their property as well.”

For Manoj, the only challenge for Armour Office Automation has been the work force. While few who are from other states, have retreated to their homes to the comfort of being with family, the existing team is totally motivated and doing the best they can.

Since certain customers who have the installation done by a third party do not receive back end service support, Armour Automation has successfully managed to approach such clients into getting their annual maintenance contracts.

While this will lead to the need for maximizing the present set up, they have now added smart home systems to their existing range of products of surveillance and communication equipments.

The Future of Business “We all know that the world will not be the same again post COVID-19, but like I said, we are gearing up to face the change that’s coming up, and embrace it wholeheartedly in order to develop new ways and more efficiency to resolve client problems, so that they are safe and secure,” says Manoj with a smile

enterprise

On the 10th Anniversary of Goa’s largest business networking organisation, Business Goa congratulates the

stars of

Vinay Verma / Powertrac Corporation

Power to the People

Vinay Verma has worked hard over the years to make his power-solutions business a name to reckon with

V

By sybil rodrigues

inay Verma, is the founder of Powertrac Corporation, a power management company having over two decades of leadership in Goa. Their range of solutions encompasses all possible sectors, the major being, residential, commercial offices, retail, manufacturing, pharma, hospitality, healthcare, education, IT, Government to name a few.

Powertrac brings a stateof-the-art and customised solutions to suit the needs of the user, be it a simple Long Power backup UPS for SOHO / residential segment or Online UPS and Thermal Management for Critical IT Infrastructure, Data Centres, Sensitive Electronics and machinery in Industrial Segment, Power conditioning and Power Generation with State of the Art Solar and conventional Solutions.

Starting his Enterprise Vinay speaks on his business and the purpose for which he started his company. “It all started way back in the year 2000 with a clear focus on the Goan market since there was a tremendous scope and opportunity which was catered by neighbouring states.” This became the foundation of starting a business with a sole purpose of bringing the best in class products and solutions for consumers, both individual and institutional at most competitive prices and above all efficient and localized after sales and service support.

All businesses have their challenges and Vinay’s is not an exception. He elaborates on the various challenges faced by him in his line of business. “Trained and committed man power has always been a challenge.

Otherwise the opportunities

to bring food and essentials but his car wouldn’t start!!!!

Or the consumers of an ISP whose internet is down! We took it upon ourselves to be a part of solution and reach out to help. That was our way to contribute to the society in these tough times,” he adds.

Vinay Verma

are in abundance.”

The BNI Edge As a member of Business Network International (BNI), Goa (Aparant), Vinay explains the role of BNI aiding him in his business.

“BNI has been a part of our marketing strategy from over 10 years now. This has worked wonders to reach and connect with the right customer at the right time. Since ours is a service oriented industry, hence building relationships and growing business is the only way to success. One of the core values of BNI also happens to be building lifelong relationships which align with our organisation.

With BNI, we are assured of continuous source of referrals and new connections which assures business continuity at all times.”

The COVID-19 Challenge The ongoing pandemic and the lockdown that followed in its wake have disrupted businesses all over the world.

Vinay speaks about the impact on his business and his contribution to society

28 | Business Goa industry Dossier | june 2020

during this difficult time.

“Lockdown posed a major challenge of immobility.

Ours is a product and service based model which is highly technical in nature.

Electrical and Electronics expertise is required at all times whether it’s a simple task of replacing a car battery or an industrial battery bank or even repairs, maintenance and installation of UPS Systems, Servo Stabilizers, Solar and Gensets.” All of this happens at the client’s site and even during the lockdown, Vinay managed to keep the commitment of business continuity for their customers through their dedicated door service through and expert team. Thus they could manage to help over 100 distressed customers all of who came through references, social media and word of mouth. However small a task, be it jump starting a car battery to servicing of inverters and installation of UPS for an internet service provider, Vinay’s team did it all. “Imagine the plight of a person who needs to go out during permissible time limits

The Future of Business When asked how he sees the future of his business in the light of the pandemic, Vinay responds from his perspective and experience. “This is a very difficult question.

India is a consumer market.

Whatever we produce still falls short since we have a large population which consumes. This means that the businesses will remain and continue to grow.

However certain segments will definitely be affected more. Need based businesses will continue to thrive while vanity businesses will have to wait patiently or change their model of working.”

He stresses on the importance of social distancing and states that it’s the perfect time to go digital in order to be accessible to one’s customers. Businesses need to adapt and understand the shift required which is aligned to client needs and bring themselves on track or else they stand a major chance to lose the race.

Vinay concludes with his message to people running businesses. “I always believe that tough times don’t last, tough people do. Have faith and belief in your capabilities.

Stay positive, stay strong. Be aware, stay abreast and adapt to technology and automation in business. I feel it’s time to bring in the principles of ‘Empathy, Relationship and Value Addition’ as the core of your business. Be patient and persevere and as our Hon PM says Ache Din Ayenge”

InterView

www.businessgoa.in

Dr Edwin Gomes

“CoVID-19 came to Goa and no one wanted to take up the challenge”

Dr Edwin Gomes is currently leading the fight against COVID-19 with his staff at the ESI Hospital in Margao. He completed his MD in medicine and Therapeutics from Bombay University and later joined Hospicio, Margao. His liking for teaching led him to join the Goa Medical College in 1991 and his dream is to develop Geriatric medicine. Business Goa interviews Dr Edwin in his capacity as the COVID-19 frontline warrior Doctor, could you please, in brief, tell us about your professional background?

I’m the eldest in the family of three brothers and I still remember that in my 12th standard I had completed my theory portion by November, and I was practicing Agarwal Courses which used to come as small bi-monthly books from Mumbai.

I wanted to be an IIT engineer, maybe in aeronautics, but by then my mother wanted me to be a doctor and so I joined MBBS at GMC in 1979.

I completed my MBBS in 1983, standing first in Medicine and OBG, and second in Surgery in Goa. In fact I stood second in Bombay in OBG. Though I wanted to join OBG, my gurus Dr. N. G. K. Sharma and Dr. N. G. Dubhashi, sort of attracted me to the Department of Medicine.

Later after finishing my MD in Medicine and Therapeutics through Bombay University in 1988, and my senior residency in 1991, I joined Hospicio, Margao as a junior physician.

However the liking for teaching made me join Goa Medical College on 19th September 1991, and from then on Goa Medical College has been my first wife as I often say to my wife.

I had a liking for lifestyle diseases, Diabetes and Mellitus, and my final dream is to develop Geriatric Medicine. Treating COVID 19 patients came as a bonus.

Everyone knows your capabilities and expertise, but according to you, what is that one thing that

Dr Edwin Gomes

makes you the best person for the COVID19 Champion tag?

This statement I beg to differ.

I would like to place on record that I did do a bit of social service by seeing patients in Ribander, but the moment

30 | Business Goa industry Dossier | june 2020

some of the doctor friends saw my success, they went and complained to the higher authorities, who were kind enough to ask me to stop.

I was accused of leaking the final MBBS papers to all

the students in the final year; and although the authorities could not find any fault, they have failed to reinstate me as a Goa University examiner.

I have started once a week geriatric OPD on every

@businessgoamagazine

Saturday at Goa Medical College on an appointment basis and done the work of creating the syllabus and the structure of the department so as to get two MD seats in geriatric medicine, but till now there is no sign of the ward and so no sign of the course.

CoVID 19 came to Goa and as no one wanted to take up the challenge, I along with a few first year students started the suspect CoVID 19 ward in ward 113 at Goa Medical College.

But after a disrespectful meeting by the GARD members and a few consultants in lecture hall No 4 on 21st of March 2020, a day when my own students insulted me, I was lucky to secure the backing of the Dean, Dr Shivanand Bandekar; Health Minister, Vishwajeet Rane; Health Secretary, Nila Mohanan (who has been my

L to R: Dr Harshal Mhamlekar, Dr Nidhi Prabhu, Dr Geetali Velip, Dr Edwin Gomes and Dr Masood Mujawar

backbone); Chief Minister Dr. Pramod Sawant, and the Chief Secretary, Parimal Rai. It is because of them that we could move to ESI and turn it into a real state-of-the-art CoVID 19 Hospital with all the SOPs in place. Thanks also to careful planning by Dr Ira Almeida, Dr Deepa CorreiaAfonso, and the staff of ESI. I must place on record, my four hands have been the four first year residents who have sacrificed everything and helped me in this work.

As the COVID19 Champion in Goa, what is your take on the current status of Goa’s virus statistics?

Goa is doing well and although we have to live with CoVID 19, we know enough and have our protocols in place to help any patient suspected or having CoVID 19.

After Mid July, if we put our suspect CoVID 19 ward, ward 113 in place with all the SOPs written, Goa will do well.

If I were to ask you the top strengths of the medical system in Goa, and the top weaknesses, what would you say?

The medical doctors of Goa, from a topmost consultant, to a medical officer in the health centre has a lot of clinical skills and rely on their clinical achievement and also on their reports. Goa, thanks to the Health Minister, has a requirement of 30 credit points per doctor to renew his / her license every five years.

The medical system has shown its unity in managing diabetes along the state from 1998 onwards and, now the STEMI program in coronary artery disease.

Even in maternal mortality and infant mortality, we are doing well.

Monsoons see the Directorate of Health Services in action to prevent malaria and dengue.

Why these doctors got

june 2020 | Business Goa industry Dossier | 31

InterView scared of CoVID 19 is a question I cannot understand, even till today!

Do we (Goa) have the right equipment and enough of this right equipment to handle the number of people who will be entering Goa over the next few weeks and months?

To this I would say yes. We are fully equipped to handle 200 patients. And if the private hospitals join hands with us, we can handle around 350 to 400.

What about staff? Do we have enough staff? And is this staff adequately trained and focused?

We do have enough staff.

They all are well motivated (specially at ESI) and if anyone wants to get trained they could come and get trained. Some of the patients who are cured also wish to come and help us and as they have high antibodies they will have less fear.

How strong are the protocols for COVID 19 recoveries in the state?

We have a plan and fortunately everything in Goa at ESI/ CoVID 19 is going as per plan. Why? I do not know. All I can say we have protocols in place. Good teams from GMC

@businessgoa

on these matters.

“CoVID 19 came to Goa and as no one wanted to take up the challenge, I along with a few first year students started the suspect CoVID 19 ward in ward 113 at Goa Medical College” Dr Edwin Gomes and ESI. And blessings from the almighty.

What would you say are the precautionary measures that we have to follow as lay people?

Face Mask, social distancing and hand wash. If anyone gets fever with respiratory symptoms, meet a doctor from the health services. We have Truenat services which will give us results in 3 to 4 hours.

What are some of the myths surrounding this virus that you may like to debunk for the benefit of the people who are victims of such incorrect beliefs?

There are no myths now.

We know enough to identify the correct news and see which is fake like the recent controversy on HCQ. There’s an unreal degree of social

stigma about this virus, and that is causing a lot of unpleasant experiences for people who are infected. Can you share some reassurance regarding this?

Public should not treat frontline workers as outcasts.

We all take enough precaution so as to not get the disease.

And specially, do not treat the cured patients as outcasts as they have a lot of immunity and will not get a re-infection.

What is your opinion about opening up the economic activities at this current stage?

There is enough literature on how to open a lockdown and we should follow that protocol.

India is blessed with really top class IAS officers and Secretaries in the government office, who read a lot. They are the best people to take a call

In general, what is your message to the people of Goa, in your capacity as the COVID19 Champion?

Do not get scared of CoVID 19. There will be a day when we will have to live with the disease. Treatment protocols are in place. It is still not the end of the world. I’m not the CoVID 19 champion. The true champions are the Chief Minister, Health Minister, The two most important secretaries, the Chief Secretary and the Health Secretary, the Collectors, the alert Goa Police Force, the Medical Superintendent of ESIS, Dr Ira, Dr Deepa and Dr Pooja who showed us the importance of briefing and de briefing. The Dean of Goa Medical College. The senior doctors, the medical officers and nurses of ESIS. The security guards, the MTS, the housekeeping, and the other technical staff. The 108 ambulance and the ESI ambulance staff. The cook and dietician, the staff I forgot to mention from ESI, The various staff in all the residencies, my four junior residents, the staff of GMC and my friend Dr. Utkarsh Betodkar

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campus

bookshelf

GIM Commences Admissions to E-MBA Programme

Writer: T.T.JAGANNATHAN with SANDHYA MENDONCA Publisher: Penguin Random House UK

@businessgoa

Disrupt and Conquer:

How TTK Prestige Became a Billion-Dollar Company

In a new book, readers get a glimpse into the eventful evolution of the Chennai-based TTK Group

In a world with an ever shifting new normal, businesses should be better prepared to rise above the rest!

Goa Institute of Management’s Weekend PGDM-PT is designed for working executives, entrepreneurs and Government officers.

The global lockdown due to the Covid-19 pandemic has had a significant impact on the business community. The way businesses are run, world over, will now be changed.

Businesses who manage to adapt to the changing landscape, innovate and rise above these challenges may stand a better chance to sustain themselves.

Amidst the present economic and business landscape, Goa Institute of Management (GIM), a premier B-school of the country has announced admissions for the threeyear part time PGDM PT(Executive MBA) program for working professionals and entrepreneurs.

The present curriculum has been curated to meet the aspirations of working executives and business growth objectives of family owned small and medium businesses. This program provides the full content and flavour of a rigorous MBA program.

How does an entrepreneur navigate through this challenging time? How can one leverage the learnings from the changing trends and patterns emerging from analytics of data? All this

and more will be covered in the programme explains Dr. Amiya Sahu, Associate Professor at GIM and Chairperson of the program.

Executives and supervisors with the passion to advance quickly in their careers are eligible to apply.

One with a bachelor’s degree or equivalent with at least 50% marks and at least 2 years of work experience would qualify.

“During the first and second year, the students are expected to study Core and Elective Courses spread over six terms, each of approximately 15-week duration. During the third year, the students do live projects as a dissertation, and either a case study or a work improvement project.

The curriculum is designed to develop skill-based competencies”, says Prof.

Sahu.

GIM’s teaching-learning process is unique. While the 65+ core faculty members, with their strong credentials, strive to apply innovative techniques, the visiting faculty members, drawn from the industry and leading MBA colleges, ensure that the course is in sync with latest industry requirements.

Loaded with modern learning tools and resources, GIM is at par with leading MBA colleges in India and abroad.

The PGDM-PT program has completed 20 years. Hundreds of business executives, many Goan entrepreneurs and bureaucrats have benefited

The TTK Group was founded in 1928 in Chennai (then Madras) by T. T. Krishnamachari, who later became a Union minister and held the portfolios of finance, industry and commerce for close to fifteen years.

In this book, the current chairman T. T. Jagannathan, along with Sandhya Mendonca, takes us through the journey of this extraordinary company which fought off bankruptcy and rose like a phoenix to become a highly profitable, successful entity.

What makes this story all the more startling is that T.T. Jagannathan is an accidental and reluctant businessman.

He came into the profession very unexpectedly, and without any preparation, with neither an MBA nor having ever worked in the family business before having its very survival entrusted to him.

Like a phoenix, the Group and its constituent companies, have risen from the ashes, many times over, to stand tall and proud. This is the story of a journey that began with early success and experienced catastrophic disasters, and set about turning its fortunes around in stunning comebacks, time and again.

With invaluable business lessons, decades of experience and innovation distilled in these pages, Disrupt and Conquer is a must-read for aspiring entrepreneurs, executives and business leaders.

T T Jagannathan leaves the readers with three simple

rules for running a business: get down to the office every day, look at the details, don’t see the big picture, look at the small picture, the big picture will look after itself, apply your common sense, and not just what you read in textbooks.

A journalist-turnedmedia entrepreneur, Sandhya has co-authored Reva EV: India’s Green Gift to the World, and her stories have been published in the bestselling Chicken Soup series. Sandhya is the founder, managing director and editor-in-chief of Raintree Media Pvt. Ltd and the festival director of India’s first multi-arts women’s cultural festival, Under the Raintree.

According to Sandhya, most of the South Indian businessmen are far too modest, but they have great achievements to their credit that can serve as a basis for the learning of people both in the business arena, and for those who want to set out on new businesses. TTK was a story that simply had to be told!

from this program.

GIM has recently announced admissions to its part time executive

MBA program PGDM-PT. Admissions are open. For more information visit the website at www.gim.ac.in

june 2020 | Business Goa industry Dossier | 33

professional dossier

www.businessgoa.in

“It was an honour for me to participate in the trial of the vaccine that will fight COVID-19”

Dr Vikram Talaulikar, MD, MRCOG, PhD (University of London) specialises in Reproductive Medicine, University College London Hospital NHS Trust; and is Hon. Senior Clinical Lecturer, University College London, UK. He recently made headlines when he offered to be tested for the vaccine that is developed to fight COVID-19 Tell us about your schooling and early life I completed my primary schooling from Mushtifund High School in Panaji followed by secondary education at the People’s High school in Panaji.

I was always keen in subjects related to Science and chose the Dhempe Higher Secondary school for further education.

I enjoyed my time in school especially participating in activities such as quizzes, debates and elocution competitions. I had an inclination towards experimental science and biology, and perhaps this was to play a major part in my choice of career in future.

My love for music played (and still plays!) a major part in my early life and it drove me towards trying out and mastering a couple of instruments which I enjoyed playing for fun as well as at family occasions and local events.

What drew you to the medical profession and obstetrics in particular?

I was always interested in science and biology, but the real inspiration came from my father (Vijay Talaulikar) who is a doctor himself.

I guess being born in a medical family, I was exposed to a medically nutritious environment that made me feel at ease with the challenges that were associated with the choice of medical career.

Watching the surgeons wield their knife and rid their patients of their pathology or watching the exciting science of test tube babies stimulated the scientist in me.

I had made the choice of Obstetrics and Gynaecology (O and G) specialty the day

Dr Vikram Talaulikar

I entered medical school – I wanted to follow in the footsteps of my father.

Besides, O and G is a unique branch of medicine which combines both surgical and medical aspects of health care.

Tell us about your professional experience in Goa? I practised medicine as a Gynaecologist for 6 years in Goa before migrating to UK. The major part of this was in Goa Medical College as a Junior and then Senior Resident and a bit in the private sector helping my father in his practice.

This is where the young and naïve fresh medical graduate in me matured into a responsible clinician with the ability to keep calm under challenging situations.

I loved my time working day in and out on call (plenty of sleepless nights with coffees to keep hydration levels going!), trying to develop my clinical skills so that I could offer the best care to my patients.

34 | Business Goa industry Dossier | june 2020

The team spirit while working as a resident was fantastic. What I loved most was my interactions with fellow residents and junior colleagues. Teaching was and is my passion! And I cannot forget the fantastic time we had organising and conducting the postgraduate teaching while working in GMC. There were two striking aspects of the healthcare that I felt needed significant improvements 1. Inequitable distribution of health services – while the middle class and rich sections of society had ready access to self-funded quality care, the poorer sections struggled to get adequate health care when most needed; and 2. Lack of evidence-based protocols.

There continues to be a need for honest, unbiased evidence based medical practice in many places where a clinician’s individual biases or goals do not influence the quality of care.

What professional opportunities

took you to the UK? It was the opportunity to contribute to research and cutting-edge science that attracted me to UK. I had the opportunity to complete the MRCOG (Royal College of Obstetricians and Gynaecologists exam) followed by a PhD at University of London where I published my theses on ‘novel in vitro modelling of early pregnancy embryo-maternal interface’. I wished to subspecialise in fertility and reproductive endocrinology, and I got my opportunity to do this when I was offered a job at the University College London Hospital in 2013.

Since starting my first job in the UK, 10 years ago I have been able to publish more than 120 Scientific papers / chapters / books and abstracts with some of the leading experts in the area of Gynaecology and Reproductive Medicine. I have continued to keep my passion for teaching alive by conducting annual courses for general practitioners in the UK on menopause related healthcare, and I also conduct preparatory courses twice a year for junior doctors who are taking the MRCOG exam.

What is the spectrum of your practice in the UK and what cases do you specialise in?

Currently I work as a Specialist in Reproductive Medicine in the UK. My NHS base is the University College London Hospital NHS Trust, but I also offer private consultations at the London Medical, Menopause Clinic London and London Claremont clinics. I specialise in looking after women or couples with fertility issues (treatments such as IUI or IVF), repeated miscarriage,

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PCOS, endocrinopathies related to menstruation, menopause and premature menopause.

My research interests include genetic forms of premature ovarian insufficiency, hormone replacement therapy, early pregnancy interactions between embryo and maternal tissues and management of PCOS. Tell us about you volunteering to be tested for the vaccine that is being developed to fight the coronavirus?

COVID-19 is a new illness that can affect the lungs and airways which is caused by the coronavirus. At this time, there are no specific vaccines or treatments for COVID-19.

However, there are many ongoing clinical trials across the world which are evaluating potential treatments. The virus is causing havoc across

the world (public health emergency) with more than 400,000 people dying from it so far. The need of the hour is to set up and complete clinical trials, which can lead to the development of a vaccine or medication that would be effective in preventing the infection or reducing severity of the illness.

The COV002 vaccine trial is one of such trials which is testing how well a new vaccine developed by the Oxford Vaccine Group works against COVID-19.

As a doctor and scientist, it was an honour for me to participate in this trial and contribute to the science.

Having been part of research teams over past few years, I certainly recognise the importance of volunteering to help the recruitment targets in such trials.

Who or what has been your

inspiration in the profession?

As I said above, my father was my biggest inspiration. I have had the opportunity to work with some great clinicians and academicians over the past 15 years. Patrick Steptoe and Robert Edwards (who invented IVF) have been my role models – hopefully one day I can do something for medicine which can transform fertility or endocrine care!

What holds your interest beyond work?

Music and spending time with my wife, Anuradha and daughter, Varada. Work-life balance is critical and there is no better time than the one I can devote to my family. We all love to travel and hope that we can add a few more countries to our list of ‘must visit’ places in future. I am an avid reader and there will always be a new paperback in my briefcase to give me

company on way to work every day.

Future plans I will continue to strive to better my clinical and research skills so that I can offer the best possible evidence-based care to my patients. I hope to initiate or be part of large multicentre clinical trials in my areas of research. I wish to give back my expertise to people in Goa. Fertility and menopause are areas of reproductive medicine which affect the lives of so many women (young and old) but these areas of healthcare in Goa are still lagging behind the world.

It is my dream to be able to contribute to improving this aspect of the state’s healthcare in future, and train future generations of doctors who will work in this area of medicine in Goa and UK

june 2020 | Business Goa industry Dossier | 35

biz bytes

@businessgoa

The Beast: The all-new BMW X6 launched in India

BMW Group India launched the third generation BMW X6 in India. The all-new BMW X6 blends agile and versatile driving dynamics with a crisply expressive design language, enduring the extrovert presence of an edgy Sports Activity Coupe (SAC).

Available as completely builtup units (CBU) the all-new BMW X6 can be booked at all BMW dealerships.

Arlindo Teixeira, acting President, BMW Group India said, “BMW established the SAC segment with the introduction of the BMW X6 and still continues its remarkable success story.

The uniqueness of the third generation BMW X6 is born from its modern expressive design which combines athletic and elegant coupe lines with the dynamism of a BMW X model. This vehicle is like no other, to the very last detail, the all-new BMW X6 offers a unique synthesis of luxury, sporting dynamics and powerful style creating an excitingly different driving experience for our customers. From the

coupe-like roofline to the chiseled profile, this Sports Activity Coupe is marked by extraordinary craftsmanship and sends a message of power and prestige. The extrovert design, impressive dynamism and agility makes the all-new BMW X6 the most attractive and distinctive car in its segment.”

The all-new BMW X6 offers customizable options to customers for the very first time. A range of optional features include BMW Laser Light, BMW Head-Up Display, Comfort Access, Panorama Glass Roof Sky Lounge, Crafted Clarity Glass Application, and Ambient Air Package.

Customers can enhance the

level of entertainment and enjoy their drive all the way with the options of Rear Seat Entertainment Professional and Harman Kardon Surround Sound System.

Additional equipment such as 21-inch light alloy wheels, distinct paint jobs and trim options makes the all-new model look your own.

The all-new BMW X6 adapts perfectly not only to a dynamic lifestyle but also to personal taste. It is available in two powerful variants – the xLine and M Sport. Each variant has distinguished exterior and interior design cues that lend an individual personality to the car. xLine highlights the robustness of the new Sports Activity

Coupe and the extrovert character enhancing the car’s off-road looks. M Sport brings a strikingly dynamic design angle offering a commanding presence and distinguishing itself as an elite sports model.

The all-new BMW X6 is available in Riverside Blue Metallic, Carbon Black, Manhattan Metallic, Artic Grey, Mineral White, Flamenco Red Brilliant Effect, Sophisto Grey Brilliant Effect, Black Sapphire and Alpine White. Optional paintwork includes Tanzanite Blue Metallic and BMW Individual Ametrine Metallic.

Customers of the allnew BMW X6 will gain membership to the exclusive BMW Excellence Club. A member’s only collective; BMW Excellence Club caters to the discerning taste of BMW customers by curating unmatched luxury experiences from around the world.

The program features four main categories: Bespoke Travel, The High Life, Grandstand and BMW Privileges

Taj rated ‘strongest indian brand’ by brand finance The Taj brand was rated

by Brand Finance as the ‘Strongest Indian Brand’ across all sectors. EBITDA margins at 24% for 12 months of FY 2019-20 (up 406 bps) and nine consecutive quarters of profitable growth.

In FY 2019-20, 12 hotels opened, thus reaching a milestone of 200 hotels with over 25,000 rooms across 100+ locations. 29 hotels were signed up for, with an inventory of over 3,700 rooms for FY 2019-20.

Ginger crossed milestone of 50 operational hotels and registered a strong growth in signings with the highest number of keys signed under any single brand in India during FY 2019-20 The company readies for

post-COVID opening with new and stringent hygiene, sanitisation and social distancing protocols across its hotels titled trademark ‘Tajness – A Commitment Restrengthened.’

For the year ending March 31st 2020, the Board of Directors has recommended an equity dividend of 50 per cent amounting to `0.50 per share. Commenting on the fiscal performance, Puneet Chhatwal, Managing Director and Chief Executive Officer IHCL said,“IHCL has delivered on the promise of profitable growth across all parameters, culminating in an all-time high EBITDA and PAT. The re-imagined brandscape helped us reach a significant milestone of

36 | Business Goa industry Dossier | june 2020

200 hotels in our portfolio.

Another proud moment for us is the recent recognition of Taj as India’s Strongest Brand across all industries by Brand Finance. This ranking is a testament to the strength of our brand and the trust reposed in us by all our stakeholders, as we ready to welcome guests in the new normal with enhanced health and safety protocols.”

IHCL has defined a five-point agenda named ‘R.E.S.E.T 2020’ to address the challenges posed by the unprecedented global crisis and help the company navigate through these difficult times.

IHCL announced a strategic partnership with Singapore’s sovereign wealth fund, GIC, for an investment platform

to the tune of `4,000 crores or USD 600 million over a period of 3 years to acquire operational hotels in India In keeping with their strategy to be future ready and commitment to develop talent for the future, IHCL partnered with two leading international institutions – Les Roches in Switzerland and ESSEC in France – for scholarship and development programmes.

Ginger announced its partnership with the Institute of Hotel ManagementAurangabad (IHM-A), one of the country’s top hotel management Institutions, to launch the ‘Ginger Leadership Program’, which will enable the students to achieve Hotel Manager positions in a short span of five years

@businessgoa

Government appoints statutory auditor for Mapusa Urban Co-op Bank

Goa’s finance secretary Daulat Hawaldar has appointed chartered accountant Gautam Sardessai as the statutory auditor for the Mapusa Urban Co-Operative Bank (MUCB). Sardessai will audit and evaluate Mapusa Urban’s assets and liabilities as part of the liquidation process.

Hawaldar has been appointed as the official liquidator for the bank and has been tasked with returning deposits to account holders

while also recovering dues owed to the bank. The audit will help identify the bank’s present financial position and aid the liquidation process.

India’s banking regulator, the Reserve Bank of India (RBI) on April 16 cancelled the license granted to MUCB. With cancellation of the banking license, MUCB has been prohibited from accepting deposits and repayment of deposits www.businessgoa.in

june 2020 | Business Goa industry Dossier | 37

industry voice / sundeep V Bambolkar

India’s Tryst with Destiny

The writer lists out measures which could propel the economy forward in the face of an imminent recession

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orking from home for over 7 weeks now has been an experience in itself. While addressing a town hall video meeting of 75 persons, a thought actually crossed my mind. “I am concerned about the scenario post Covid-19,” I said.

Press reports and articles appearing in the media are all hinting at a recession, hitherto not experienced globally for the last nine decades. We need to be mentally and physically prepared to absorb the aftershocks of this dastardly pandemic that is likely to leave indelible scars on our minds for a very long time to come. The corona virus outbreak has significantly harmed the global population and caused substantial disruption to the economic activity in many countries, including the United States. There is a lurking danger of a large number of businesses drying up and eventually shutting down unless substantial financial liquidity is infused.

This shut down would damage the economy to no end.

It is during such unprecedented times that we look back at history to seek advice and explore solutions that seem obvious but not easy to implement. When a catastrophe of such a magnitude strikes the world, only governments of nations possess the financial power to protect its citizens in general and the lower strata of its population in particular.

This is when the Keynesian theory comes into play. John Maynard Keynes, a British economist promulgated this theory in the year 1936. Keynesian economics is a theory that says that the government should increase demand to boost growth. Keynes believed consumer demand is the primary driving force in an economy.

Considering the current situation that the Indian economy is facing, one of the topmost challenging priorities to be tackled by the government is food security for the migrant labour, who have lost their jobs and are struggling to get back to their villages. India, fortunately has enough food stock to feed its poor population and that should not be a problem in the short term. However, for the medium term, the government must speedily commence a plethora of construction activity viz. construction of highways, bridges, expressways, airports and seaports, to name a few.

This will ensure steady and

guaranteed employment and income for construction labourers particularly those below the poverty line. It will also boost demand for cement, iron and steel besides providing sustainable employment to engineers, architects and consultants. Large construction and infrastructure companies such as L&T, HCC, to name only a few, could be awarded huge contracts, thus triggering both employment and demand.

The private sector has been a major driving force and a huge contributor to the government exchequer for the Indian economy, ever since the economy was subjected to bold reforms in 1991.

Next year, we will celebrate the 30th anniversary of this initiative. The size of India’s GDP in 1991 was USD 266 billion; which subsequently rose to USD 3 trillion by March 2020. In 1991, agriculture accounted for nearly 30% of the GDP. By fiscal 2019, agriculture had contracted to 17% on an enhanced GDP base. The gigantic steps taken by the finance ministry and the Reserve Bank of India (RBI) in the expansion of the banking sector – in enlarging the domain of both private banks and NBFCs, has played a major role in the expansion and speedy growth of the industrial, manufacturing and services sector in the last twenty nine years. Sadly, the banking and the NBFC sector has suffered due to some setbacks in recent times. It is therefore imperative that the banking sector starts getting its act together and restarts incremental lending operations at least to companies with proven track record to enable industrial and economic activity to flourish. This, in turn, will ensure that employment is sustained and quantum scale up in production becomes a predictable economic output than a one off peak in performance.

The RBI has drastically lowered the reverse repo rate currently to 3.35%, thus disincentivising commercial banks from parking money with the RBI. This move should act as a catalyst to force banks towards sanctioning and disbursement of incremental working capital limits / long term loans for the manufacturing and services sectors that will be looking forward to this financial liquidity, immediately.

Unprecedented times demand extraordinary measures. It is high

The writer is Jt. Managing Director, Indoco Remedies Ltd., Mumbai. Email: svb@indoco.com 38 | Business Goa industry Dossier | june 2020

time that the Government of India incentivises the private sector to fuel the economy. If the migrant labour issue needs a long term solution, we need to think of total out-of-the-box measures.

The Prime Minister along with his team of advisors needs to take some very bold decisions. Firstly, land acquisition for construction of infrastructure projects needs to be up to lightning speed.

Industrial Development Corporations need to be set up in the most backward areas in case they have not already been established; and private sector needs to be sanctioned capital subsidy along with 100% exemption of Income Tax, GST for new industrial undertakings. The Income Tax exemption and GST benefits should be for a minimum of 10 years.

A case in point is the pharmaceutical industry. Government of India has acknowledged its over dependence on China for both Active Pharmaceutical Ingredients (APIs) and Key Starting Material (KSM) used in the manufacturing of APIs. The government has now announced that it will invest 25% of the total fixed capital investment in the project. One of the conditions is the total project investment should exceed Rs. 500 crores. Thus, the government has clearly demonstrated that when the country is pushed to the wall, in specific sectors, it is willing to take extremely quick decisions.

Another investment area where India can do well immediately is FDI (Foreign Direct Investment). Considering the corporates’ newly found penchant for digitalisation and digital transformation, Government needs to encourage FDI in green field projects pertaining to micro -electronics, smart phones, computers and allied industries.

However, this FDI will not just happen. This has to be simultaneously accompanied by labour reforms, quick land allotment for the proposed industrial undertaking and other infrastructure required. We must realise quickly that billions of dollars of FDI money can make its way to India if we move extremely fast to sanction all the demands required for setting up of the industrial enterprise literally overnight.

Green field projects of huge scale having investment of around $250 million to $500 million each can totally change the dynamics of the Indian economy.

Uncomplicate Business / sunil dias

The critical step before re-imagining your business

The columnist speaks about controlling one’s anxiety as business is limping back to normal

A

deluge of articles, videos and webinars have inundated us. Most telling us how to get business back on track in these post-Covid times. The common advice among all that content is some variation of “Relook your business model”. And that’s important advice.

Covid-19 has changed things quickly and irreversibly. Not relooking your business model in the face of this revolution is risky, at best.

Yet, rethinking business models can be intense work. Building strategy requires creativity. Creativity requires a calm mind. And calm minds are in short supply currently! It’s been a period filled with uncertainty. Add social isolation and a sea change in how we work to the mixture. It’s all enough to stress out even the calmest person. While life is limping back to normal, anxiety levels remain elevated. So, before re-imagining your business you need to do one critical thing. To control your anxiety and calm down. This article gives you some tips to do just that.

Tip 1: Stop the news Our information consumption has increased exponentially during the pandemic. We’ve been busy flipping TV channels and scrounging through news apps and websites. Then there is WhatsApp University and Facebook Polytechnic. They kept us well informed about the smallest mutation in the virus genetic sequence. Trouble is that a lot of it was disinformation, fake news, or plain sensationalism.

Stop the news. Instead, choose a few reputed information sources. Pick a couple of times a day for consumption.

And stick to that schedule. Nothing more than that. The first step to decreasing anxiety is to stop over-consuming news.

And don’t use WhatsApp or social media

Building strategy requires creativity. Creativity requires a calm mind.

And calm minds are in short supply currently! It’s been a period filled with uncertainty as a news source.

Tip 2: Get into a routine Our daily schedules had transformed.

Now that things are more in control, it’s time to get back into a routine. Schedule your day and allot time for each of the activities you want to do. Put it into an online calendar or a dairy. Setting a routine gets things done. And puts you in control of your time. While calendaring, remember to allot time to think about the future of your business. Else, it’s easy to fill your calendar with fire-fighting activities. And have no time for the deepthinking stuff.

Tip 3: Don’t be hard on yourself Be kind on yourself and others. The aim shouldn’t be to make up all the time and business lost during the lockdown.

That won’t happen. So, don’t cram your calendar with too many things to do.

And don’t beat yourself up if it’s difficult to get back to the speed you were prelockdown. Instead, aim to get back to the same pre-lockdown mental state. And try to facilitate the same for your employees.

Tip 4: Realize that we’re lucky The pandemic has affected everyone.

Nobody has been spared. Yet, if we compare ourselves to some others, we’ve come out relatively unscathed. Look at the plight of the millions of migrants, many of whom are having a harrowing time getting home. And it’s a very uncertain

future for those who have reached home.

The luxury of flexible and remote working is also not available to a huge chunk of the workforce. For instance, for domestic helps work-from-home translates to no-work and no-pay. Yes, we are the fortunate minority; and realizing that we are fortunate is a good way to relieve stress.

Tip 5: Talk to people It’s a new situation. You never know what someone might say which triggers new ideas for your business. The greater the variety of people you speak with, the more perspectives you gain. The other advantage is that its therapeutic. We are social animals.

Be careful to stay away from the negative ones though. The ones who tell you that the world is coming to an end.

Or if they run out of corona statistics to inform you about, find something else to sustain the current negative news environment.

Tip 6: Exercise and self-care Whether it’s stretching at home, going for a walk or run, yoga or meditation, be sure to get some exercise into your schedule.

We’ve been at home for a long time. We need to work ourselves back into fitness.

A healthy mind stays in a healthy body.

In the current uncertain environment, there are an unlimited number of stressors. Getting rid of them is like playing a game of whack-a-mole. They’ll keep popping up no matter how many times you try to get rid of them. We need to learn to live with these new stressors.

They’re going to be a part of our life for the foreseeable future. So, accept them and calm down. Before you start the important task of re-imagining your business

The author runs iv-advisors, a consulting firm helping businesses become bigger and better. Email:sunildias@iv-advisors.com

Growth in India’s industrial and services sector would boost economic activity.

This would bring buoyancy to the stock markets, in turn bringing in large funds flowing into India. Corporates would naturally reward shareholders and employees besides pumping in huge funds into expansion plans. This in turn would give more employment to every strata of the Indian population. If this

cycle is kept in motion, only then can we have an impressive growth in GDP in time to come.

The country’s need for renewable energy also needs to be scrutinised very urgently considering the huge expansion, the industrial sector will undertake.

All in all, the Prime Minister and his cabinet colleagues along with the advisory team have a task cut out for

themselves. The success of this entire initiative will certainly depend upon excellent execution. It is the absolute need of the hour if India has to really achieve its tryst with destiny.

In the words of former PM Atal Bihari Vajpayee, “India is a country with huge potential. However it is now high time this potential is converted into performance” june 2020 | Business Goa industry Dossier | 39

Wealth Doctor / Amiya Sahu

What Makes a Good Investor?

The writer lists out attributes that makes for a profitable long-term investment proposition

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any folks that I come across – students, executives, officers, colleagues, acquaintances, retirees, men and women, ask me this question, “What makes a good investor?” I am sure, more people I haven’t met would be seeking an answer! In this article, I explain why one should invest and what are the key characteristics of a good investor.

Investment is an activity by which it is possible to grow one’s wealth. Investing is different from the plain vanilla ‘savings’!

Typically, we save in the ‘savings bank account’, at a rate less than the inflation rate. Although ‘fixed deposits’ (FDs) give higher returns, we seldom take advantage of the options available. Those who do this, consciously, are‘investing’.

Looking for higher returns and working towards achieving it is paramount to an investor. While choosing FDs, one should look for better options. FD rates differ for different periods. The rates are highly negotiable, too. If we haggle while spending on vegetables, why not exhibit the same calibre in investing. Further, we could bargain for higher rates in other banks. However, let’s not get lured by higher rates offered by credit co-operative societies etc. We may be inviting higher risk.

To understand ‘Why we should invest?’ let us do a time travel. For instance, our date of retirment. Once we hang our boots, our active income will become zero. But our expenses on food, medicine, clothes, travel and data will continue. How do we ensure that we have financial freedom? It is possible only if we plan now and invest.

While investing, we should ensure

that returns exceed rate of inflation to protect our purchasing power. Since interest rates have plummeted, investing in the stock market re-emerges as a better choice. Many are scared of the term ‘stock market’ and consider it akin to gambling.

The truth is, it is not!

Buying and selling of shares is not investing, it is trading. It involves an entirely different science. In trading, unless you have an in-depth understanding of the market microstructure. Losing your money is very easy.

Investing is always done for a long period. How long should be the ‘longperiod’? The answer is, “as long as possible”. People ask me “when to sell?”

My standard reply is “why to sell? If you are in dire need, sell now.”

The other characteristics of a good investor are: (1) Goal-oriented: We define our goals by answering the question – What amount of a retirement corpus do we wish to have? (2) Disciplined: To be a disciplined investor, is to invest

One may diversify one’s portfolio by investing in different assets. The longterm returns of different assets are given in the table

The writer teaches at Goa Institute of Management. Email: amiyasahu@gim.ac.in 40 | Business Goa industry Dossier | june 2020

systematically (Systematic Investment Plan). Ensuring that we do not miss any SIP investment is a very good discipline.

(3) Patient: We must give time for the investment to grow – similar to watering a plant and waiting for it to bear fruits.

(4) Diligent: Be very careful on all that we do. We should be making constant efforts to do things the right way. e.g., as a beginner, we should focus on large companies. Research has proven that risk is less in large companies as compared to smaller companies.

And finally, (5) Eager to learn: One should be very keen to learn, at least, about the assets that we invest in. For example, if we have invested in Infosys Ltd., we should learn about the company’s performance, the risk involved and its expected future. Similarly, if we have invested in mutual funds, we should learn about their risk-return characteristics.

One may say that this is difficult. But, my advice on this is, “If we don’t work for our own money, who will?”

Understanding the risk-return characteristics of different assets will bring more clarity. In doing so, two choices with us are, “become an expert or employ experts!” Since we may be short of time, engaging experts is a better choice. Consulting an investment (wealth) advisor is sensible. Professional advisors charge a small fee, and it is okay to pay. We pay a fee for consulting a doctor for our health, then why not for wealth?!

So, how does one start? (1) Start by saving regularly; (2) Convert the savings to investments, (3) Look at long-term investments.

Best wishes for your investment journey! Be healthy and wealthy!

corporate citizen / Daniel Albuquerque

Limitation Period in Arbitration Contract During Covid-19

The columnist deals with the Suo Motu Order of the Supreme Court of India dated 23 March 2020, whereby the apex court suspended the limitation period until the lockdown imposed due to Covid-19 was lifted. The Court deliberated on the difficulties faced by the affected citizens in conducting court business of filing applications, appeals, cases, petitions and so on and passed the time extension Order

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case in the District Court Bangalore, Jalan Infotech Private versus Lenovo India Private Limited on 21 May, 2020, illustrates the importance of time bar in an arbitration dispute. The petition was filed under Section 34 of the Arbitration and Conciliation Act, 1996, requesting to set aside the Arbitral Award dated 12 December 2014 passed by the Arbitrator.

The case sheds light on the arbitral award problems faced by not only citizens filings various applications and petitions but also by companies who file suits concerning arbitral awards during the Covid-19. Jalan was the distributor for Lenovo Infotech for computers and its accessories. The parties had an agreement to settle their claims of proceeds annually. A dispute arose due to the payment amounts – Jalan held that the amount to be paid was less than the amount demanded by Lenovo. Further the limitation period had elapsed. Upon application, an arbitrator was appointed who held in favour of Lenovo, for the arbitral award. Jalan challenged it with an appeal only to be rejected by the District Judge of Bangalore who held that the arbitrator had dealt with the case fairly with the materials presented to him, and that the Court had no reason to overrule or review the arbitral award.

Jalan’s argument was that it was barred by time and that the respondent company had no case to its claims. For according to the Section 34 (2) of the Arbitration and Conciliation Act, 1996, an arbitral award may be set aside if the party making application offers adequate proof, wherein there some incapacity existed.

However, it was found that under the Limitation Act, 1963 (Art. 133) Lenovo was within the time period. The main lesson from this case is the importance of time in the arbitral award. The companies would do well to apply their mind to specifically state under which section or sections of law the arbitration award should apply, thereby excluding any other impeding law. Companies could suffer enormous losses for the oversight of time limitation.

The question is what happens to the arbitration period in the event of the Acts of God, namely, circumstances that occur beyond the powers of human control

such as earthquakes, cyclones, plagues, volcanic eruptions, pandemic and the like? Although common sense dictates that it is obvious but in the eyes of the law only what is specified is the basis for the outcome. The wisdom that common sense helps to formulate good laws holds, what does not hold is its presumption.

For as the fundamental principle of law states that ignorance of law is not an excuse.

As Covid-19 hit the world and the lockdowns began early in the year and still its restrictions and disastrous consequences continue, the time barred limitations have come under the microscope of the law as much as the virus pathogens in a lab. The impact of Covid-19 on such cases is enormous as the litigant companies have to deal to rectify matters as per the direction of the courts.

Indeed, the courts have taken cognizance of the same as the following Suo Motu order of the court demonstrates.

The Supreme Court of India in its order of 23 March 2020 declared: It has done away with the requirement of filing condonation of delay along with the contemplated legal proceedings. It also made it clear that this relaxation is only for the government implemented lockdown period. The purpose of this exceptional action is for the sake of all those who are faced with such problems as filing or attending court proceedings due to the suspension of all services to the people, the need for social distancing, lack of transport, cancellation of work, both public and private, etc.

What is most interesting to note here is the fact that the Article 142 of the Constitution of India has given the Supreme Court this exceptional power to deal with a case like pandemic disease: The Supreme Court in the exercise of its jurisdiction may pass such decree or make such order as is necessary for doing complete justice in any cause or matter pending before it, and any decree so passed or orders so made shall be enforceable throughout the territory of India in such manner as may be prescribed by or under any law made

by Parliament and, until provision in that behalf is so made, in such manner

as the President may by order prescribe.

(Sec.142 (1)). The Supreme Court of India, it has been reported, heard 593 cases and delivered over 215 judgments from the beginning of lockdown until April, 2020 end; this count by now must have grown by another three times more.

Of all these staggering numbers, what the companies have appreciated the most is the Suo Motu Order of the Supreme Court on the extension of the arbitration period. What the companies must carefully note is that the above discussed court order applies within the limits of the Union of India. In a globalized world India is one of the leading trade and commerce countries. With staggering volumes of business transactions there are also numerous disputes related in the area of arbitration awards. The impact of Covid-19 is unmistakable and companies across the world are trying to cope with the situation to find legal solutions.

India is a member of the Permanent Court of Arbitration (PAC) headquartered in The Hague of The Hague Convention, 1899. The Arbitration and Conciliation Act, 1996, Section 11 consisting of 12 clauses lays down rules for international arbitration. The method of arbitration rather than court suit settlements is an Alternative Dispute Resolution (ADR) method. It is able to solve disputes in trade and commerce agreeable to both the parties. The arbitrator is accepted by both the parties and as per the arbitration contract the proceedings are set. The Section 2 (1) of the Act clearly defines arbitration where at least one of the parties to the disputes is Indian citizen or body corporate. To conclude, the ADR method has been quite accessible internationally due to the validated and acceptable means of technology.

The international arbitration has not hit any roadblock due to the ongoing pandemic. In India too, it has found an increasing foothold and has been accepted by the Supreme Court of India to conduct proceedings through electronic media. Technology would further benefit companies both in speed and in financial terms to conduct dispute resolutions

The columnist is a writer with Oxford University Press and a published author. Email: albuquerque.daniel@gmail.com june 2020 | Business Goa industry Dossier | 41

bon AppĂŠtit

@businessgoa

Building on his Culinary Skills

While the globe currently battles its way against the COVID-19 crisis, Abhijeet Shetye, a real estate developer from Vasco, takes his love for the culinary arts to the next level

Chicken Berry Pulao

A

Mutton Gilouti Kebab

By ameya nayak

bhijeet Shetye, a real estate developer, says that the human race has been pacing way ahead of its time in an inexorable manner thus profoundly distressing the course of nature. This ungratefulness towards the Almighty and Nature according to him has thus gotten back to us in the form of Karma, leading to the breakout of the COVID-19 pandemic. For him, this pandemic is an opportunity to help oneself rise above all forms of negativity, discover ones hidden aptitudes, aid others to see this through and learn valuable lessons for a better tomorrow.

Speaking about what made him pursue his culinary hobby during the COVID-19 led lockdown, Abhijeet mentions that fresh ingredients, local recipes, hidden spices and good quality food has always attracted his attention and experimenting with exotic cuisine has been his hobby way before the lockdown was implemented.

Nonetheless, like necessity is the mother of all inventions, Abhijeet goes on to state that during the lockdown, he had no choice but to prepare

Abhijeet Shetye

daily meals at his home, as all commercial food outlets and restaurants remained shut during the initial phase.

He then shared numerous images of the dishes that he had prepared on social media and with his friends. These were viewed and appreciated tremendously by most of his friends and family, thereby leading to requests from them to offer fresh and tasty food items during the lockdown. “I would particularly make a mention of Chandan Timblo Bandekar, who constantly encouraged me to monetise my culinary skills,� says Abhijeet.

Amidst an astounding array of mouth watering preparations, Abhijeet states that the all time favourite Chicken Biryani, Chicken Cutlet Pav, Chicken Berry Pulao, Salli Marghi, Khubani

42 | Business Goa industry Dossier | june 2020

The demand for his culinary offerings has been so vast that Abhijeet remains occupied almost every day with multiple orders. He is extremely humbled and eager to see if the response graph remains the same way in the near future ka Meetha and the classic Chocolate Mousse Cake happen to be some of his signature dishes while the Chicken Biryani and the Chicken Cutlet Pav happen to be the most liked and demanded dishes of all!

Elaborating upon the response that he has received for his gastronomic venture, Abhijeet says that he has received nothing but tremendous love and appreciation from the people who have sampled his food and that the response has been overwhelming.

Mentioning that the demand for his culinary offerings has been so vast that he remains occupied almost everyday with multiple orders. Abhijeet also goes on to say that he is extremely humbled and at the same time eager to see if the response

Salli Marghi

graph remains the same way in the near future.

Moreover, shedding light upon his plan ahead, Abhijeet says that cooking has always been his passion and that he will continue to cook with all his heart for his family and friends, irrespective of what lies ahead.

Since his culinary venture was born organically with nothing but immense support from his family and friends, Abhijeet quips that he has no immediate plans of concretising the venture right now or enforce it in a particular direction.

Nonetheless he believes that if it is meant to be, it will be and it will take its own course in the times ahead.

Being one to be blessed with the splendid art for cooking, Abhijeet absolutely supports all other people who wish to chase their love for the culinary arts and says that getting an opportunity to serve someone is the biggest blessing in disguise from God and if anyone is blessed with this talent, they must not let it squander under any circumstances and keep motivating themselves throughout till they make their dreams a living reality! www.businessgoa.in

bon Appétit

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Law of the Kitchen

A lawyer cum culinary artist, Madhumita Salatry speaks about her passion for cooking and working during the lockdown

ry

Madhumita Salat

A

By sybil rodrigues

lawyer by profession, Madhumita Salatry was always interested in cooking from a very young age.

Coming from a family of lawyers, Madhumita chose to pursue the same route, but her heart was always into cooking.

Today, she has become a household name for her delicious cuisine. “My mom Amita Salatry started off with her cooking show, ‘Ruchik’, on T.V. When I was in the 9th standard my mother taught me everything with regards to cooking, as I always had the urge for learning how to cook.” Her friends and family encouraged her to take orders, but Madhumita was hesitant at first. Around two years back, there was a program in her housing society, Madhumita put up a little food stall, wherein she had biryani for sale – this was sold off in a jiffy. That’s when she thought of looking at cooking as a commercial proposition, there’s been no looking back.

Speaking on the sudden outbreak of the pandemic Mahumita says, “The initial 21 days were difficult. I used to get plenty of calls asking me whether I would be taking orders, but given the risk associated with the pandemic and the difficulties associated

which is why many of my customers are impressed with the freshness of my preparations.” She has her suppliers in the market who she calls up on the day she’s starting with her order and collects it in the morning.

Madhumita then elaborates on her future plans. “Right now I handle both, Mutton Biryani Tisryanche Hoomann (Clam Curry) my profession as with getting some of the with another friend, Shruti a lawyer and taking orders ingredients, I refused.

Naik, would continuously ask for my signature dishes. But Professionally, of course we Madhumita as to when she thanks to the lockdown, were closed for two months.” would resume taking orders, people prefer ordering food Madhumita then talks and were the happiest when that is made at home rather about her signature dishes. she began to accept orders. “It than ordering in from a “Dishes like Sungtaache was comparatively easier to restaurant. lonche (Prawn Pickle), get the necessary ingredients I don’t know what will be Baangdyache lonche during the second lockdown, the response of people later; (Mackerel Pickle) ‘Biryani’, and I resumed taking orders. but as of now everyone relies Xacuti, Chicken Cafreal, My neighbours and friends on fresh homemade food. I Chicken and Mutton Sukha, were my biggest client base will continue to operate my Gajar Kheer, Sungtache during this time and many of catering activities from home Dangar (Prawn Cutlets) and my old customers, too.” and while I do have plans of Tender coconut soufflé are For Madhumita hygiene opening a small restaurant, some of my specialties. People is very important. While I’ll keep it on hold, given that crave for Kaalvachem tonak the peeling and chopping of it’s not feasible just now. Even (Oyster Curry), Kurlyanche ingredients is done by her if I do manage to open up tonak (Crab Curry) and the helpers, the cooking is done an eatery the response may Xacuti – both, chicken and by her alone. She accepts a not be what I’d expect it to mutton.” Madhumita stresses few orders at a time which be as the virus is very much on the fact that the masalas makes it easier for her to amongst us.” used in her preparations, are concentrate on what she’s Madhumita shares her all homemade and prepared doing. “Taking limited orders message to people who’d like from a scratch. “There are ensures that I give it my 100%, to pursue culinary art as a times when I don’t taste the thus ensuring my customers business. “You need to be true food I make, as I’m vegetarian of the best product from my to yourself and dedicated to on certain days. Usually I don’t kitchen”. whatever you do. You pour accept orders on a Thursday, Madhumita usually all your energy, attention but there are some very loyal doesn’t make the food and sell and love in what you do and customers and I can’t say no to customers as and when they most important of all, money to them. But thankfully all call. She always gives them a shouldn’t be the deciding my preparations have always small sample to taste first and factor. For me, customer been appreciated with no if satisfied with it, they place delight is very important. If complaints so far.” a larger order with her. “My you’re truthful and give the During the lockdown, food is always fresh. I usually best, your customers keep Madhumita would get request customers to give returning back to you. Always continuous calls from her me a heads-up about their be open to criticism as that clients, one of them being orders two days in advance, helps you grown and improve.

Poonam Desai, who always and I prepare the order on the I don’t even mind getting less puts up good reviews day before delivery. Even the money but at the end of the on various social media meat I purchase on the day I day, glowing reviews from platforms about Madhumita’s prepare the biryani or ‘Xacuti’. customers is what keeps me preparations. Poonam along I don’t like to freeze anything going”

44 | Business Goa industry Dossier | june 2020

NewsMakers Waman Prabhu roped in as Editor of ‘Marathian’ News Channel in Goa

Waman Prabhu has accepted the post of Editor of Marathian news channel in Goa, a popular channel in Maharashtra with its base in Kolhapur. Prabhu has worked in different capacities in print and electronic media for over 50 years.

He started his career in journalism at Daily Gomantak in 1969 as a subeditor and ventured into electronic media by joining Zee News / Alpha Marathi in early 2000s when TV news was just making a mark nationally. He has worked as a sub-editor for Loksatta Mumbai and Kesari Pune as Goa correspondent.

Prabhu was the bureau chief of Pudhari and correspondent for Zee News and Alpha Marathi. He is the founder-editor of Goa’s first Konkani electronic news channel, Goa Newsline; and was the editor of Marathi daily Goa Doot. He is also the recipient of several awards like Bhaskar Bhushan, Goa Kesari, Indywood excellence life achievement award, Late Govind Mangesh Laad Patrakar Puraskar, and Arch of Excellence Award

Mahesh Prabhu elevated to Assistant Regional Vice Chair (Advocacy) at ASHRAE

Mahesh Prabhu, a Goan Entrepreneur, who holds a MS from Illinois Institute of Technology, Chicago (USA) and is currently a part of the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE, Mumbai) Board of Governors; has been elevated to the position of Assistant Regional Vice Chair (Advocacy) at ASHRAERegion At Large (Sub Region 2).

ASHRAE, a US based globally reputed technical society with more than 56,000 members from over 132 nations, is a diverse organization representing building system designers and engineering professionals around the world.

Prabhu in his new role will oversee ASHRAE’s Govt.

Advocacy initiatives across the Indian Sub Continent encompassing Sri Lanka, Bangladesh and India.

Prabhu owns and operates a reputed industrial water treatment technologies firm based in Dona Paula, Goa for over two decades which engages with multinational pharma and hotel clients. He has authored papers published in leading engineering journals; and has been invited to speak at several technical seminars in India and parts of Europe

Nitin Kunkolienker appointed as Member on IIT Goa Board of Governors

Nitin Kunkolienker, President of MAIT and former President of Goa Chamber of Commerce and Industry has been invited to join the Goa IIT Board of Governors as its member. The BoG is headed by Amit Khare, IAS who is Secretary, Higher Education, GoI. He is also appointed as member of the BoGs of National Productivity Council, New Delhi which has Piyush Goyal, Minister of Railways and Commerce as its President and Gurprasad Mohapatra, IAS and Secretary, Department for Promotion of Industry and Internal Trade as its Chairman 46 | Business Goa industry Dossier | june 2020

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Ralph De Sousa compiles ‘An Incredible Show’ a book on inspiration

Ralph De Sousa, chairman of the De Souza Group has published An Incredible Show, a book that comprises of a collection of stories and poems which have influenced him over the years and encouraged him whenever he faced difficult times. The thoughts and writings of some personalities with their real-life examples forms the crux of this book. Ralph is the former president of Travel and Tourism Association of Goa and present Vice President of GCCI

Ramrao Surya Wagh to head Theatre College Ramrao Surya Wagh has been appointed as the first principal of Kala Academy’s College of Theatre Arts from June 1.

His brother former MLA Vishnu Surya Wagh was the erstwhile chairman of Kala Academy while his father, Surya Wagh was a member of the institution.

Wagh said that there is immense theatre talent in Goa but the formal education to pursue a career in the same was lacking. The theatre course at KA will therefore provide the right platform for those aspiring to come up in this field. Wagh stated that this course will not only provide education related to theatre and performing arts, but will also serve as a research centre in the field of dramatics. In his role as an academician for almost 30 years, he has taught at post graduate and undergraduate level.

The college was established two years ago, and the administration was looked after by former member secretary, Gurudas Pilernekar as officiating principal.

Fresh admission to the first year of 4-year programme in BPA (Bachelor of Performing Arts, Theatre) affiliated to Goa University will commence soon and intimation in this regard will be posted on Kala Academy website

132 1. Don and Doris Fisher founded which clothing company?

2. In 1943, which hotel chain became the first ‘coast-to-coast’ hotel chain in the United States?

3.Which was the first Indian company to institute employee stock option plans?

4. The machine developed by which company is considered to be the first true modern word processor?

5. In 1985, Houston Natural Gas merged with InterNorth to form which company?

6. Which company’s brand name is coined from the Latin word for globe and a fanciful modification of the world delicious?

7. Vimson Group is led by which Goan businessman?

8. Which business house manufactured India’s first vertical diesel engine?

9. Name the inventor (pic) of the famous Post It notes Answers to BG Quiz 131: 1. Pears 2. Dena Bank 3. Xerox Corp 4. Doritos 5. Zurich 6. NewsCorp 7. Wipro 8. Sunil Kant Munjal Email your answers to businessgoa.media@gmail.com First all correct entry will get 1 year’s subscription to Business Goa

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