Md bg june 14 web

BUSINESSGOA

50

Goa’s Only Business Magazine

www.businessgoa.net

PANAJI GOA VOL 5 ISSUE 12

JUNE 2014

Preserving and protecting agricultural produce 12

While manufactured goods have Geographical Indication (GI) certification, agricultural produce has PPV&FR which helps protect and preserve the rich variety of indigenous fruits, vegetables and grains

goan brand

24

Aquaponics is the new future of 14 agriculture darryl pereira

Aparant Emporia

by GHRSSIDC Wendell supports Mangala Wagle’s Khadi 44 initiative

News Views Articles Interviews Profiles Focus Analysis Opinions Events Features

Contents 12

June 2014

26 Event of the Month

16

Toastmasters host their Annual National Conference. Manisha Salkar and Neha Naik’s fashion exhibition held

28 Lady Power 29 Professional Dossier

winds of change

Sadhana Mukundan, GM of Bogmalo Beach Resort talks about her rise to the top

Goa’s industry looks forward to the Narendra Modi promises

12

Cover Story

Adv. Ethelwald O.Mendes talks about what makes him passionate for the law and how he set up Oasis Consultancy

As we head into the monsoons, the focus is on agriculture. The PPV&FR Act is proving to be a safety net for farmers engrossed in preserving indigenous grains, vegetables and fruit varieties. Meanwhile Aquaponics is the new buzz word for the growing breed of home farmers says Darryl Pereira

42 Bon Appétit

Route 66 is the hot new destination for the lovers of an American style diner experience where burgers, hot dogs and steaks take on a whole new meaning

18 Starting Young 20 Enterprise

29

Cory York and Indrajit Chowdhury have successfully built a chain of online stores

Jeevan Rekha, Panjim’s first 24 hour pharmacy has literally lived upto its name of being a ‘life line’ over the years

42

22 Interview 24 Goan Brand

Ashley Gomes talks about Motocross racing and how it can help boost quality tourism

COLUMNS 31

The Aparant Emporia by GHRSSIDC are onestop-shops for Goan memorabilia

18

33

36

06 Editorial 08 Corpo Scan 30 Campus 30 Book Shelf 30 BG Crossword 38 What’s Up Goa 40 Health 40 Education 44 Goa Buzz 46 Newsmakers 46 BG Quiz

04 Business Goa

JUNE 2014

37

Jay Dehejia writes about advancements in technology and its implications on our lives

Blaise Costabir talks about the power related imbroglio that industries are facing in Goa

34

28

31 Letter from America 33 Reluctant Entrepreneur 34 People Tree 36 Antarprerna 37 Good Company Kishore Shah discusses the rising number of queues that we are forced to wait in

Nandini Vaidyanathan clarifies commonly misinterpreted entrepreneurial jargon

Swatee Rane talks about the importance of Independent Directors under the new Company Law

BUSINESSGOA

50

Goa’s Only Business Magazine

www.businessgoa.net

PANAJI GOA VOL 5 ISSUE 12

JUNE 2014

EDITORIAL

hbhatkuly@gmail.com

Preserving and protecting agricultural produce 12

While manufactured goods have Geographical Indication (GI) certification, agricultural produce has PPV&FR which helps protect and preserve the rich variety of indigenous fruits, vegetables and grains

GOAN BRAND

24

Aparant Emporia

by GHRSSIDC

Aquaponics is the new future of 14 agriculture

Wendell supports Mangala Wagle’s Khadi 44 initiative

DARRYL PEREIRA

News Views Articles Interviews Profiles Focus Analysis Opinions Events Features

VOL 5 | ISSUE 12 | june 2014

Editor & Publisher Harshvardhan Bhatkuly Co-Publisher & Group Head Urvija Bhatkuly Advisory Board Datta Damodar Naik Ralph de Sousa Rajiv D’Silva Swapnil Kamat Group Editorial Head Rachel Fernandes Business & Admin Head Annalise Gouveia Team Alisha Patel Ashok Kolvekar Devisha Bhatia Govit Morajkar Mayur Santinezkar Pritesh Naik Sigmund D’Souza Contributors in this Issue Nandini Vaidyanathan Jay Dehejia Blaise Costabir Kishore Shah Swatee Rane

new

Editorial, Advertising & Administrative Office Business Goa 409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 0832-6456555, 2437822

Email: businessgoa.media@gmail.com

Business Goa is a monthly magazine dedicated to trade, commerce and business features and news.

Editor, Publisher & Printer: Harshvardhan Bhatkuly. Printed At: Printek Printers Unsolicited material may not be returned.

The opinions expressed in Business Goa are not necessarily that of the publishers. 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.

06 Business Goa

JUNE 2014

What would you ask from Narendra Modi?

Goa is where it all started for Narendra Modi. It was at the BJP conclave held at Taleigao that the NaMo mantra was unleashed on the nation – first as the leader of the Elections 2014 campaign, and later as the Party’s Prime Ministerial candidate.

It’s not a secret that our new Prime Mminister trusts Goa’s Chief Minister implicitly on matters of strategy and planning. To his credit, Parrikar is one of the few chief ministers in the country who can balance realpolitik with delivery. And he has demonstrated this trait amply.

So when the BJP scorecard was spiraling as high as the Sensex on May 16, one could not but get a little expectant at the end of the day. That Shripad Naik would win the North Goa seat was evident by the time the drums and cymbals of pre-election campaign were told to wrap up. It was Narendra Sawaikar’s unprecedented and handsome victory in the South that has surely earned Manohar Parrikar more respect in the higher echelons of the Bhartiya Janata Party.

Parrikar, despite all the spanners thrown in his administrative wheels in the last two years, is BJP’s poster boy in Goa. There was general buzz among certain sections of the business community that there would be electoral backlash due to mining closure. A trend reversed by tactful and timely handling of negative PR by the man himself. One must also not forget that there was all round disillusionment with Congress and the UPA in Goa and in the nation, generally. The fact that the country’s oldest national party is a divided house didn’t help matters for them.

So now that the dust has settled, how do you think Goa will benefit from the Modi Government.

Centre-State relations: At the heart of India’s federalism is the concept of better Centre-State relations. The last two years that saw the Manohar Parrikar led government take over Goa, there was complete absence of any Central support to our State. In fact, the UPA was also on its last limb and was not at all doing its duty as a responsible parent of States that it was meant to be. If you see Parrikar in public today, there is a certain spring in his step. Maybe www.facebook.com/businessgoa

I am being too optimistic or reading beyond the obvious, but you can’t miss the positive vibe.

Surely, there is no case for a non-cooperative Centre now.

Tourism: With Shripad Naik being given the Tourism portfolio, Goa can mount its directives in getting the best for the tourism business in the State. Over the last decade or so, Goa has been able to pull in tourists only on miracle. Tourism infrastructure and re-asserting Goa’s tourism pitch should get a fillip with Shripad bhau at the helm of affairs.

Mining: With the Supreme Court lifting the blanket ban on mining in the State, the decks have been cleared to restart Goa’s primary export activity. Goa awaits the Mining Policy to plug all the loopholes that created the mess that the State saw itself in; and this has to be implemented soon. I have read in reports that mining may not start in the State

by September. The Policy aside, Goa’s mining players have already ceded large part of their export business to global companies. Winning customer confidence and reassuring them of political and policy stability is just as important as the business of mining.

Industrial Policy: The Industrial Policy is ready to be launched.

Business Goa had done a Cover Story in the September 2013 issue on the same. The promise of investment and employment generation according to the Policy can take Goa forward multi-fold. There have been no investments worthy of mention in the State in the last few years. Hopefully, with the enactment of the Industrial Policy, the economic fortunes of Goa may be reversed to the positive territory.

There is no doubt that the result in favour of Narendra Modi is a vote for hope. Goa and Goans desperately look at this regime as a provider of opportunities – social, economic and political. We look forward to the proverbial ‘acchey din’ www.twitter.com/businessgoa

Shripad Naik is MoS with independent charge

corpo scan

Shripad Naik, the fourth time MP of North Goa has been included in India’s 15th Prime Minister Narendra Modi’s compact cabinet consisting of 45 union ministers and ministers of State. Naik took oath as Minister of State with independent charge for Culture and Tourism. The lavish swearing in ceremony of the new BJP led government was held recently in the forecourt of Rashtrapati Bhavan and witnessed the presence of the heads of SAARC nations.

Netherlands Consul General meets businessmen at GCCI Geoffrey van Leeuwen, Consul General of the Kingdom of Netherlands in Mumbai, visited the Goa Chamber of Commerce and Industry (GCCI) recently. He held discussions on various areas of collaboration between the two countries. The visit coincided with India’s general election results and the Consul General commented on the general sense of optimism in the Country, an important factor for economic growth.

Netherlands, the Consul General said, was the fourth largest foreign investor in India with AkzoNobel, Philips, Shell, TNT India and KPMG, being some of the Dutch companies

operational in the Country.

He added that after the UK, Amsterdam in Netherlands was the European city with the most Indian population, and that over 200 Indian companies have started in Holland in the last five years.

Stating that Netherlands was the fourth most innovative economy in the world, he

No mining before Sept: CM Chief Minister Manohar Parrikar has ruled out the possibility of mining operations resuming before September, this year. He said that the rules of Mines and Minerals Regulation Development (MMRD), transparency, employment guarantee and maximization of profit to State are the key parameters that would be taken into account while drafting a policy for allocation of mining leases in the State.

Speaking about this he said, “Movement of trucks and barges should start by September. But I don’t know whether iron ore extraction or mining will start by September, too.”

Parrikar also indicated that 15 million metric ton of ore has been recorded and another 10 million metric ton unrecorded ore is lying around and this can be transported till April

2015. He added that a policy for allocation of leases would be drafted keeping in mind the Supreme Court judgment and in consultation with the new Union Government.

According to this, while the Supreme Court is focussed on the MMRD Act, his focus was employment guarantee and maximization of profit for the State, and that these parameters would be considered when drafting the parameters. Parrikar also reiterated that he does not favour e-auctioning in the future as it puts the liability on the Government to provide logistics support to the buyers

enumerated that Energy, Waste Treatment, Ports & Dredging and Agriculture and Cold Chain setup were fields where Netherlands could offer technological support to Indian companies.

Consul General Leeuwen was welcomed by Director General Ramakant Kamat. Meanwhile, Ralph de Souza, member GCCI Managing Committee said that relations between Netherlands and Goa dated way back to 1940s. Rotterdam was one of the ports used to ferry Goan ore to Germany. De Souza said that Goa,

earlier received direct charters from Netherlands which has now diluted to combined charters from other countries.

Atul Jadhav, President, Goa Barge Owners’ Association said that Goa specializes in building small vessels and would be interested in technology and marketing tie-ups with Holland.

Consul General Leeuwen said that Netherlands issues long term visas to business persons in a quick and friendly manner.

Responding to the request for charters from Netherlands, he said that the Dutch do not plan holidays in advance and opt for countries with quick visa issuing facility

New Working Committee of ISHRAE installed with P. Sankpal as President

The Indian Society of Heating, Refrigerating & Air conditioning Engineers (ISHRAE) Goa Chapter new working committee for the year 2014-15 was recently administered oath of office by Nitin Naik Regional Director (ISHRAE: West Zone 1).

Following members have been nominated to the new Working Committee: Prakash Sankpal (President), K B Kulkarni (Immediate Past President), Mahesh Prabhu (President Elect), Hemant Bhandare (Secretary), Prakash Naik (Treasurer), Milind

Sardessai (CWC member), R K Das (CWC m e m b e r ) , Chintan Ved (CWC member), K K Sarkar, (CWC member), Nikhil Amonkar, (member). ISHRAE has a pan India presence across 38 locations boasting a membership of 10,000 including 4000 student members at more than 300 student chapters in various engineering colleges including Goa Engineering College, Padre Conceicao College and Don Bosco College of Engineering.

Their primary objective is to organize activities and provide continuing education to members and offer career guidance to students at the local colleges and tertiary institutions

IIM- A, Village Capital kickoff accelerator program in Goa Startup incubation outfit Centre for Innovation Incubation and Entrepreneurship (CIIE) at the Indian Institute of Ahmedabad (IIM-A), in partnership with Village Capital, has kicked off the first series of The Last Mile Access Accelerator workshops at CIBA. With support from The Rockefeller Foundation, the 08 Business Goa

JUNE 2014

accelerator is a program that aims to help scale innovative enterprises which are increasing access to the under-served populations.

The CIIE-Village Capital Accelerator is a partnership between two organizations with a track record of identifying, supporting and funding early

stage companies. The program places heavy emphasis on peer mentoring and selection of best ventures within the cohort. Throughout the program, participating entrepreneurs assess one another and the two top-ranking startups will receive `30 lakh each in investment funding. On-

going online collaboration, meetings and presentations with expert mentors, investors and sector practitioners will provide additional real-time feedback. At the end of the program, participants will have an opportunity to pitch to Indian and international investors for additional funding

Job oriented vocational subjects in 38 Government schools in Std IX

corpo scan

In what is being hailed as good news, in the upcoming academic year, students in Std IX in 38 government schools across Goa will be offered four job oriented subjects as part of the curriculum. The subjects are automobile, retail, healthcare and IT and ITeS. The student can select one subject as a sixth subject for matriculation. This is a new scheme under the Rashtriya Madhyamik Shiksha Abhiyan (RMSA) and has been approved by the Union Human Resource Development (HRD) Ministry.

Healthcare Expo witnesses excellent response in Goa

The recently concluded Goa Healthcare Expo 2014, an exhibition showcasing the best in hospital, medical and surgical equipment, dental, disposables and allied services, organized by SRS Global Industry Solutions and the Indian Medical Association, Goa was a grand success.

With more than 50 exhibitors across the country exhibiting various hospital related products, this business to business event proved to be an ideal platform for non industry people to network with healthcare professionals, witness the newest innovations in healthcare technology and interact with company ambassadors face-to-face in order to learn and explore new developments in medicare.

Over 500 delegates and 1500 healthcare professionals, hospitals owners, diagnostic centers, Medical Directors, Biomedical Engineers and Health Tourism companies from Goa as well as other parts of

the country participated in the Expo discussing and tackling the challenges continuously by demanding innovative, affordable, accessible healthcare.

The objective of this Expo was to provide an upbeat, pioneering and value based platform for interaction within the healthcare professionals, manufacturers, distributors of medical equipment and technology industry under one roof, with an overall mission to accelerate the growth of the healthcare industry and medical/ health tourism in Goa. The only show attracting end-users (hospital owners and administrators) as well as the dealers, on display were a host of interesting products including housekeeping equipment, hospital management software, special construction materials for hospitals, energy saving equipment, project consultants, ambulance manufacturers, hospital stationery, teaching aids and mannequins

Pollution Control Board shut down 101 units The Goa State Pollution Control Board (GSPCB) has, over the last year, shut down a massive 101 industrial units and hotels for flouting environmental rules. The closure directives were issued on counts including violation of Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act, 1981.

Speaking about this, GSPCB Chairman Jose Manual Noronha said that the units which are been closed are those which, despite repeated show cause notices, failed to respond, thus forcing the Board to issue closure notices to them. Among the 101 units that have been shut down are stone 10 Business Goa

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crushers, hotels, restaurants, bars and pubs, small and micro industrial units like rice and flour mill, canning company, distilleries, packaging and beverage, fish meal, bakeries, metal, wood, cement units etc.

The units are located in Tiswadi, Colva, Margao, Curchorem, Quepem, Margao, Ponda, Pernem and Bardez.

The closure notices were issued to units for either working without obtaining consent to operate, and establish, under Water and Air Acts, for creating water and air pollution in the vicinity and for failing to install effluent treatment plant (ETP) and sewage treatment facility

Google to incubate 1000 start-ups in Goa Rajan Anandan, Managing Director of Google India, along with Nitin Kunkolienker, Vice President of MAIT recently called upon Chief Minister, Manohar Parrikar. Anandan Nitin Kunkolienkar, Manohar Parrikar and Rajan Anandan Anandan also showed keen had deliberations with the CM interest to sponsor/incubate at on various ways in which the least 1000 start up through their technology that is available with funded programmes through Google can be used to assist other partner agencies in Goa. the State. Anandan offered The incubatees would have to undertake the complete the privilege of connecting to digitisation of the State so that various national and international whole of Goa is on the 3-D mentors who are among the digital map and thus, becomes leading personalities in the world. totally tourist friendly. If this Parrikar has shown a keen happens, Goa would be the first interest in availing Google’s State in the world to adopt such offer and has agreed to take technology. He also elaborated this initiative forward. The on how Google’s 3-D technology Chief Minister may appoint a can also help Goan SMEs to go nodal officer to take this project online and get globally connected forward through Google network.

Cage cultured ‘Modso’ flies off shelves at Panjim Fisheries office Fisheries Director Shamila Monteiro has hailed the Fisheries Department’s ‘Open Sea Cage Aquaculture’ idea and experiment as a grand success.

The office of the Directorate of Fisheries, situated at Dayanand Bandodkar Marg in Panaji recently witnessed long lines of eager customers when the fresh cultured Modso (Cobia) harvested from these cages was put up for sale. Priced at a modest `250/kg versus the exorbitant market price, the fish were sold as per weight per piece.

The project idea was pushed through by Fisheries Minister Avertano Furtado. A pilot project was set up at Canacona in two coastal villages of Talpona and Polem in November last year.

The State Fisheries department was guided by technical knowhow from the Central Marine Fisheries Research Institute, Karwar, Research Centre (ICAR) and the Rajiv Gandhi Centre for Aquaculture, Mandepan.

This project aims at increasing

production of fish in Goa and is the Government’s answer to the disappearance of fish from the plates of ordinary people unable to afford the exorbitantly priced fish sold in the local market.

Open sea cage aquaculture is the farming of fish by enclosing them in cages or pens which are anchored or moored in natural waterways with a depth of 10 metres during low tide. Juveniles are sourced from hatcheries – protected from predators and allowed to grow. It takes six to nine months for the fish to reach a marketable size before being harvested.

With a Central Government sanction of `2.5 crore for the project, the fisheries department created 10 self-help groups of fishermen from Canacona and implemented the project. At the launch of the project, officials also mentioned that, depending on the success of this small-scale project, the fisheries department then plans to replicate it in other parts of Goa

COVER STORy

www.businessgoa.net

Protection of Plant Variety and Farmers Rights (PPV&FR)

An agricultural safety net While manufactured goods have Geographical Indication (GI) certification, agricultural produce has PPV&FR to protect and preserve the rich variety of indigenous fruits, vegetables and grains. Rachel Fernandes explores the field A local farmer selling a variety of farm grown vegetables, some indigenous and some introduced

Pics courtesy ICAR

Agassaim brinjals and (below) the locally grown red amaranth

G

oa boasts of a rich agrarian history. Though its popularity, as a means of income, has definitely declined in the last few years, for many, agriculture is still the mainstay.

Then be it rice cultivation in the monsoons or vegetable plantation in winter or growing fruit bearing trees, these are the mainstay of many who form the Goan agriculture sector.

Interestingly, there are numerous indigenous Goan varieties of rice, vegetables and fruits that are definitely being grown, though on a rather limited scale.

In paddy, the popular native varieties that are still grown across the different regions of the State include Korgut, Damgo, Mudgo, Belo, Shidde, Babari and Kochri, among others. Native varieties of vegetables that are hugely popular in the winter season include the Taleigao and Agassaim brinjals, the cowpeas (alsande), the 7 ridged lady finger, chillies, red and green 12 Business Goa

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amaranthus (known locally as tambdi and dhovi bhaaji), and a variety of vegetables that come under the Cucurbitaceae family (gourd family) including the pale green cucumbers, snake gourds, bitter gourds, ribbed gourds and the spine gourds (known locally as Phaagil or Phagla). Popular native fruits include various varieties of mangoes, especially the ever popular mankurad, Moira bananas, cashew apples, jackfruits (especially the firm flesh variety) and kokum.

While GI status (Geographical Indication) exists that protects a host of manufactured products by helping prevent the promotion of lesser quality products and fakes and thus protects the interests of stakeholders, the same cannot be applied to the agricultural sector.

This is where the Protection of Plant Variety and Farmers Rights (PPV&FR) comes into play. The PPV&FR Act, enacted in 2001 by the Government of India, provides for the establishment

Why do indigenous seeds need protection?

The seeds are produced by the farmers themselves and passed down through the generations. If not preserved they can be lost for future generations Also, registration protects the seeds incase big seed companies want to introduce improved versions of the seeds in the market. Instead of just taking the seeds, they have to pay a royalty for the same. This royalty is then passed back to the local farmers/farmer groups working to preserve it.

Locally grown ribbed gourd, cucumbers and snake gourd

of an effective system for the protection of indigenous plant varieties, protection of the rights of the farmers and plant breeders who grow these and encourages the development and cultivation of new varieties of plants.

The Act helps to stimulate investment for research and development to produce new plant varieties. Such protection is also likely to facilitate the growth of the seed industry that will ensure the availability of high quality seeds and planting material. Registration of a plant variety gives protection only in India and confers upon the rights holder, its successor, agent, or licensee the exclusive right to produce, sell, market, distribute,

The PPV&FR Act, enacted in 2001, provides for the establishment of an effective protection system of indigenous plant varieties, protects the rights of the farmers and encourages the development and cultivation of new varieties of plants

is it eligible for registration under PPV&FR. Best of all, registration is very cost effective, costing the farmers or farmer groups less than Rs 1000.

Talking about his efforts in documenting various ‘gaunti’ vegetables that are typical to the State, Dr Thangam says that they have been closely studying the high yielding local brinjal variety, Spine gourd and (right) grains of the popular Korgut variety of paddy

import or export the variety.

Clearly defining the interested entities, the Act defines a ‘breeder’ as a person or group of persons or a farmer or group of farmers or any institution which has bred, evolved or developed any variety.

In Goa, scientists in the Horticulture department at the Indian Council of Agricultural Research (ICAR) have been working with various local farmers and farmer groups to help document, analyze traits and yield quality and quantity and preserve various indigenous rice, ‘gaunti’ vegetables and fruit varieties. “The farmers themselves produce and pass down the seeds through many generations. We aim to protect and preserve these seeds so that they are not lost for future generations,” says Dr M Thangam a senior scientist.

ICAR has also been instrumental in assisting farmers and farmer groups to register under PPV&FR and avail of its benefits and schemes. They also work at preserving the various seed varieties at the National Bureau of Plant Genetic Resources, thus ensuring that the seed are not

The 7/8 ridged okra

Indigenous Goan produce that stands to gain from PPV&FR registration • Agassaim Brinjal (typically oblong in shape, deep purple in colour, less seed, more pulp, weighing between 250 to 400gms).

• Taleigao Brinjal (typically round shaped, deep purple in colour, less seed quantity, ideal for bhartha preparations, weighing between 250 - 400gms).

• Canacona’s Kola Chillies (highly spicy).

• Tiswadi/Ponda’s 7-8 ridged okra (bhindi) grows to a length 20-25 cms) versus the market variety of just 12-15 cms, boasts less fibre content, ideally tender for a host of preparations.

• Farmagudi’s pale green cucumbers.

• Various indigenous gourds which come under the Cucurbitaceae family — snake gourds, bitter gourds, ribbed gourds and the spine gourds (known locally as Phaagil or Phagla).

• The famous red and green amaranthus (Tambdi Bhaaji and Dhovi Bhaaji).

• Fruits especially the Mankurad mangoes, Moira bananas, cashew apples, jackfruits (especially the firm flesh variety) and kokum.

• Rice grains especially the Korgut variety which boasts of a high salt water tolerance (EC-12). lost.

The scientists use the DUS test for their research and classification work. Put simply the test stands for D – distinct from the existing, U – uniformity in variety and S – stability.

Once the agricultural produce passes this DUS test, only then

Different varieties of the popular Goan Mankurad mango

namely the famed Agassaim brinjal (typically oblong shaped) and Taleigao brinjal (typically round shaped) where each of these fruit can weigh between 250 to 400 grams, Canacona’s famous Kola chillies (highly spicy), the local okra (bhindi) varieties (display unique traits of seven-eight ridges and length of 20-25 cms) which are native to Tiswadi and Ponda, the pale green cucumbers grown in Farmagudi, various indigenous gourds which come under the Cucurbitaceae family, specially the spine gourd, a tuber which grows wild and bears fruit only in the rainy season and the famous red and green amaranthus which abound in the State.

Talking about how farmers stand to benefit under the PPV&FR Act he says, “Once a plant, vegetable or fruit variety is registered for its specific traits under PPV&FR, it is then notified in the Government Gazette. Thus, if any big seed companies want to use the same for breeding purposes, they have to pay a royalty for the same. This royalty amount goes to PPV&FR and is accumulated in a ‘Gene Fund’.

The money then goes back to the farmers or the farmer groups.”

Dr Adavirao Vijayrao Desai and his team meanwhile are working on a project on Goan fruits where they are documenting the varieties of mangoes, cashew apples, kokum, jackfruit, bananas, etc. Part of their work involves documenting the variety of mangoes. “77 indigenous varieties exist in Goa. We are working towards gathering requisite data,” he says adding that under PPV&FA, even individuals who are making an effort to maintain some typical local varieties in their gardens stand to be rewarded for their efforts.

Paddy too, which is a staple monsoon crop in Goa, has numerous varieties that are indigenous. These include Korgut, Babari, Kolyo, Shidde, Belo, Mudgo, Kendal, Kochrim Panyo, Xitto, Walayo, Damgo, Asgo among others. The local Korgut variety with the Canacona’s Kola chillies

typical stout, brownish-red kernel displays some unique characteristics including a high salt water tolerance. “It has an electrical conductivity (EC) of 12. The colour and shape of the kernel are also unique,” says Dr Manohara KK, the scientist at ICAR working on the rice project. Sharing his observations of a four-year survey he says that there are over 16 varieties of rice grown across Goa. “In Korgut itself, there are five to six different varieties. Based on the identification of the original, its purification and finally onsite testing for yield, variety and quality and then registering in the name of a local farmers’ group will greatly benefit both, the varieties of the rice and the farmers who are involved in conserving its unique identity and propagation JUNE 2014

Business Goa 13

COVER STORY

Since aquaponics allows a re-circulating system of water, it is the ideal way to conserve water. Also, there is no nutrient loss as it remains in the system.

Darryl Pereira

reira Aquaponics

Aquaponics, the new future of agriculture Aquaponics makes optimum use of water and nutrients and allows one to grow on the smallest land holding, says green entrepreneur Darryl Pereira, as he takes Business Goa around his latest innovation – the Reira Aquaponics Garden in Saligao.

Darryl Pereira along side a raft bed of fresh lettuce at his Reira Aquaponics Garden in Saligao

D

id you know that it takes seven litres of water to grow every calorie of food? Imagine this; at an average consumption of 2,000 calories each we would need 14,000 litres of water each day.

That’s over five million litres per year to grow food for a single person. Agriculture requires land and nutrients besides water and other resources, all scarce commodities in today’s world.

Reira Aquaponics is yet another initiative from the Reira Group which has always been involved in different activities, all sharing a synergy with each other – Aquaculture, Agriculture, Renewable Energy, Rain Water Harvesting, Waste Management and now Aquaponics.

Reira Aquaponics has been working in the field of aquaponics, growing plants, vegetables and breeding fish in a self-balancing natural environment without the use of soil, without chemicals and utilizing a tenth of the amount of water one would require in regular agriculture. Business Goa gets a sneak preview into the practice which is set to revolutionize how farming can 14 Business Goa

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be done in the state.

Business Goa: What is aquaponics?

Darryl Pereira: Aquaponics is a systematized method of food production that combines the science of aquaculture and hydroponics. Raising aquatic animals such as fish in tanks is called aquaculture while hydroponics involves cultivating plants solely in water. Aquaponics combines the two systems in a symbiotic environment. In normal aquaculture, excretion from the fish can accumulate in the water, increasing toxicity. In an aquaponic system, water from an aquaculture system is fed to a hydroponic system where the by-products are broken down by nitrogen fixing bacteria into nitrates and nitrites, which are utilized by the plants as nutrients.

The water is then re-circulated back to the aquaculture system.

This is a continuous cycle.

Aquaponics is a completely soilless method of growing food.

BG: How does the system of aquaponics work?

DP: At the Reira Aquaponics

greenhouse, fish such as tilapia and carp are raised in a large circular rearing tank which is constantly kept aerated with oxygen. Excretion from fish or uneaten feed can make the water toxic due to the presence of ammonia. It needs to be removed from the fish tanks for fish to remain healthy. But these effluents are nutrients essential for plant growth. Water from the rearing tanks flow into the swirl tank which catches the effluents which settle to the bottom, while the ammonia–rich water is gradually transferred into the hydroponic systems.

Here, beneficial bacteria break down the toxic ammonia in fish waste to nitrites and nitrates, key nutrient for plant development.

The nitrate-rich water is then introduced to the various mediums where plants are grown. These include gravel media beds, raft beds, vertigrow pipes and wicking beds.

The plants absorb the essential nutrients from the water. This process ensures that plants filter out the ammonia that is toxic to the fish. As the water passes through the hydroponic

subsystem, the plants filter and clean the water which is returned to the aquaculture vessels.

Finally, the water flows from the growing beds back into the fish tanks. This cycle is continuous, creating a sustainable system ideal for plants and fish.

As the nutrition is delivered to the plant, it has to spend far less energy and doesn’t go through stress, which is why the average growth rate is much quicker than the traditional method of growing plants. For eg: it takes about five to seven weeks for a head of lettuce to grow through the aquaponics methods as compared to eight to ten weeks via the traditional method.

Through the smart use of gravity and strategically placed tanks, water flows downwards from one system to another. This ensures that it’s a highly energy efficient system.

BG: What are the different media through which you are growing plants at the Reira Aquaponics Garden?

DP: We presently use three kinds of mediums – the gravel media beds, raft beds and the wicking beds. Our Aquaponic Garden includes two lines of gravel media beds, five lines of deep water culture beds and one wicking bed line.

Cherry Tomatoes

Besides being in a green house environment, one can grow vegetables all year round including lettuce in the summer

Cauliflowers grown through the process of Aquaponics

The media beds consist of large rectangular containers that are filled with gravel. Plants are placed in the gravel grow beds and nutrition rich water from the fish tank is pumped into the bed.

This system is run by flooding and draining the grow bed in a flood-and-drain cycle. This cycle continues regularly providing the plants with all the nutrients they need to grow abundantly and naturally without any added pesticides, herbicides or fertilisers. The water then flows down into the raft beds.

The raft bed has lightweight floating rafts that sit on tanks full of the nutrient-laden water.

Saplings are placed in the lightweight rafts with their roots submerged in the water. The roots of the saplings absorb the nutrition they require from the water. In a regular garden you not only lose water to the subsoil but you also lose most of the nutrients. Both of these issues are resolved with a wicking bed.

Wicking beds are filled with a mixture of compost and coir dust which allows water stored in the tank to be soaked up through the mixture to the plants’ root system. This waters the plants naturally, using far less water than regular farming.

BG: What vegetables can be grown through this process?

DP: Most green leafy vegetables like lettuce, chard and spinach grow well in this system.

We’ve also successfully grown tomatoes including cherry tomatoes, brinjals/eggplant, beans and fresh herbs including basil, parsley, thyme, dill, mint and coriander. We’ve also been experimenting with a variety of vegetables.

BG: What made you start Aquaponics?

DP: We wanted to be able to grow fruits and vegetables without the use of chemicals and pesticides, by utilizing the least amount of water and nutrients. We were facing issues of water scarcity during summer and nutrient loss during the monsoons.

Since aquaponics allows a recirculating system of water, it is the ideal way to conserve this resource. Also, there was no nutrient loss as it remained in the system. Besides being in a green house environment, we could grow vegetables all year round including lettuce in the summer.

It also restricts pests and insects.

Fresh water is a finite resource on earth and we are not going to get any more of it. You can’t have agriculture without water and Aquaponics makes minimum use of water. There is no wastage whatsoever.

BG: Is this a modern science or an old system?

DP: This system was practiced by civilizations all over the world form ancient times, examples being the khazans in Goa, the chinampas of Mexico and the rice paddies in India and Southeast Asia. The practice is an old one and takes place naturally in our fields where tiny fish and shell fish coexist with crops in the fields.

In our khazans, this symbiotic relationship is seen in which the rice crop benefits from the fish waste and nitrates left behind after harvesting the fish at the sluice gates before the monsoons and post monsoons, while the fish thrive on the shed grain and organic matter left behind from the paddy harvest. The cycle repeats itself year on year. The khazans, of which we have about 89 square km in Goa, have been in existence for centuries with the earliest documentation of them in the 6th century AD (ref: Khazans in troubled waters by Sangeeta Sonak & others) Over the past couple of years we have worked a lot in trying to adapt this system for Goa. We’ve tried to look at an

www.businessgoa.net old practice through a different lens making use of modern day materials, mechanization and the wonders of electricity, and have yet retained the age-old sustainable practices of farming and agriculture.

BG: Can aquaponics be carried out on a smaller scale at home?

DP: Yes. It certainly can be.

Reira Aquaponics is working on creating small compact home kits for beginners to grow vegetables at home. The unit will include a tub at the bottom which will serve as the aquaculture fish tank with another tub mounted over it

pressure on the groundwater reserves. Our system helped relieve the water stress that we faced for our agro operations during the summer. With this Aquaponics system, the demand for water has reduced drastically.

With the rising demand for fresh water, Aquaponics may be the most effective way to grow food in the future.

BG: Is food security a concern in Goa? DP: Yes. We have to import about 75 per cent of our vegetables and fruits from outside Goa. This has led to not only an inflation in food prices (about 18 per cent), but is

Chillies at the Reira Aquaponics Garden at Saligao

which will serve as the media bed for growing plants. The kit is perfect for use in all indoor environments. The compact size means it can be placed on a balcony, verandah or anywhere in your home. All you need to do is add the water, fish and the seeds or plants that you would like to grow.

Besides we will also be offering units for the gardens and terraces. We will also provide training classes for interested entrepreneurs and gardeners.

BG: Your company also does work in the area of water harvesting, right?

DP: Yes. We set up the pilot rainwater harvesting project in Saligao a few years back to demonstrate the benefits. One never realizes the importance of water until struck by shortage.

Rainwater harvesting helps in conserving drinking water resources and relieves the

also threatening the existence of the local varieties.

The government of Goa has been implementing a number of programs to promote agriculture. Mechanised farming and financial assistance through subsidies have benefitted a large number of farmers. However, there is a pressing need to involve more youth in the agriculture industry. Investing in the youth is the first step towards ensuring food security. This is why we have been constantly conducting workshops in agriculture, waste management and now, even aquaponics for school and college students, as part of our CSR activities. We collectively also need to ‘glamourize’ the sector by providing better infrastructure and opportunities, so that youth will be enthused to join the profession. Only education and training can help change the way we look at agriculture, it should be seen as a profession JUNE 2014

Business Goa 15

WINDS OF CHANGE

In Goa, too, industry seems to be in a buoyant mood and have high expectations from Modi to usher in a slew of new legislations that will help revive and perk up the flagging economy

Goan industry on a Modi high What does Goa’s industry expect from Narendra Modi who made election history with the decisive win at elections 2014? BG finds out With the Bhartiya Janata Party and its poster boy Narendra Modi emerging clear winners of elections 2014, a renewed sense of zest and enthusiasm seems to have gripped the industrial sector. Hailing the decisive win as a positive sign, industry is gearing up for the promised ‘ache din’ specially keeping in mind the dismal performance of both, the economy and industrial growth is the last few years.

In Goa, too, industry seems to be in a buoyant mood and have high expectations from Modi to usher in a slew of new legislations that will help revive and perk up the flagging economy and boost the dismal growth rate.

What has also got their hopes up is the camaraderie between Modi at the centre and Manohar Parrikar at the helm of state affairs. They predict this as a good sign for the state to get unresolved issues regarding the centre cleared at the earliest possible and put the state too, back on the road to development and economic glory.

They also hope for a similar boost to various industrial sectors as Modi did in his home state, Gujarat.

Business Goa spoke to a few industry stalwarts on what Modi’s win means for the nation and Goa and about their hopes and aspirations from him.

Goa Chamber of Commerce and Industry (GCCI) congratulates Narendra Modi for leading the NDA coalition to this historic victory. As far as Goa is concerned, we already have a BJP Government. Though the first two years of the Government have been impacted by the ban on mining, we expect a revival of the State economy as the Government has put a lot of measures in place with the new Investment Policy to be declared in the next few weeks. During the UPA rule, Goa was never considered for any special favours. But the excellent rapport that our CM enjoys with Mr Modi will surely help in securing the special attention of our new Prime Minister towards our State.

Narayan R Bandekar President, Goa Chamber of Commerce and Industry

Good thing about Modi Sarkar is that India has a stable government.

We hope now India will progress with peace and harmony. Our expectations are high. I hope he will fulfil our dreams.

Achche din aa gaye hai!

KHALIL AHMED Proprietor, Broadway Book Center

16 Business Goa

JUNE 2014

I am very optimistic about the new Government led by Narendra Modi.

I expect development to take place.

Modi is a decisive leader, one who was missing from the forefront. He is capable of taking tough decisions which are necessary for our economy.

Keeping in mind that Goa enjoys a good relationship with Modi, I hope that we will benefit from this. Projects which were earlier stalled should now be realized and development should be fast tracked. As a lady member of Government bodies, and the relationship that we share with Smriti Irani, I feel the long pending Women’s Reservation Bill will finally be passed and this will herald a change in women empowerment Dr. Radhika Nayak Chairperson, Ponda Municipal Council

I strongly believe that Modi is going to drive the business sentiment upwards. Investors will be more open to India now. Infrastructure projects which were lagging will now kick-start. The new Government will jumpstart the economy. As far as Goa is concerned, the new Government could do well to allocate tourism infrastructure projects Girish Bharne Goa Head, Persistant Systems

and boost the dismal growth rate. What has also got their hopes up is the camaraderie between Modi at the Centre and Manohar Parrikar at the helm of State affairs

www.twitter.com/businessgoa

My expectations are that the new The country has voted Government should focus on governance. vehemently for a They should implement a plan to come out development platform. of all business and profit from the sale of Industry is extremely existing PSUs except strategic ones. The elated that manufacturing money gained should be used to create & MSME sector which infrastructure – ports, roads, airports etc, contributes hugely to comparable to the best in the world. The the GDP will finally get a Government should throw open the economy thrust and boost growth. while focusing on making India an exporting Market sentiment across country. Invest in processes which will the bourses has shown eliminate red tape and make India a place unprecedented enthusiasm. where doing business will be a pleasure The new Government is likely to take a relook at the country’s trading arrangements, Atul Pai Kane Managing Director, Pai Kane Group including tariff structures under free trade pacts that may be undermining domestic manufacturing. There is a need to spur I think that the Narendra Modi Government has manufacturing. had an excellent start. The choice of Ministers For Goa, we expect the Centre to accept the decision of is broad based and has covered most States. the Goa Govt. State Cabinet in totality that the state should be There have been strategic decisions and plans given adequate time to phase out activities of mining which laid out right from day one. I can sense better are non-permissible, including mining in the buffer zone in days ahead, especially for Goa as we are well a phased manner, subject to erecting of wild life and ecorepresented at the Centre. A special mention friendly barriers. Special tax holiday and central incentives also has to be made about the special connection to be given for establishment of MSME’s in the state. A our Chief Minister, Manohar Parrikar shares financial bailout package should be given to compensate for with the Prime Minister the economic loss KIRIT MAGANLAL Chairman, CII Goa Council

Capt. Bruno D’Souza Managing Committee Member, GCCI

JUNE 2014

Business Goa 17

STARTING YOUNG PowerStores

PowerStores would like to be the best e-commerce platform for small businesses in the country. They plan to build a solid platform in India, and then plan on moving to countries around India such as Singapore, Malaysia, Hong Kong and China Cory York AND Indrajit Chowdhury

Building dreams online

O

nce upon a time there were the corner kirana/ ration shops. Then came the era of stores and super stores, then supermarkets and then, the malls. But with the dominance of technology in our lives, it was only a matter of time before, shopping, too, was bitten by the ‘online’ bug.

These days, web-based businesses are booming and if you aren’t ‘online’ then you are close to ‘forgotten’. However, the cost of setting up and maintaining an online store may be a deterrent, especially for smaller businesses, the gap between smaller businesses and their opportunity to find resources must be filled. This is the gap that PowerStores fills.

PowerStores is a Goa-based ‘doit-yourself’ e-commerce platform conceptualized and operated

by Cory York and his partner, Indrajit Chowdhury that allows users to create their own online store in just a few minutes.

Talking about his venture, York, CEO, says, “I came to India, as a tourist, but gradually began to like the country and decided to move here. My first job in Mumbai was selling books doorto-door. I did this for six months.

While doing that, I realized the immense opportunities for e-commerce as an ideal business opportunity. I started looking out for foreign companies who wanted to establish their online store in India.”

During his Mumbai stint, York built the online stores for biggies including Shopper’s Stop, Globus and Croma. “Six years after helping the big players build their stores, I realized that there’s more opportunity and growth for the smaller businesses in India.

Growth will not come from the big companies, but from the smaller companies, who have the potential to grow and excel,” he explains.

Every idea is followed by action which results in growth and improvement. Cory says, 18 Business Goa

JUNE 2014

Though new, PowerStores, a Goa based ‘doit-yourself’ e-commerce platform has made its mark in the State, finds Monaliza Dias

Cory York and Indrajit Chowdhury

Clients can select a theme and upload 100 different products on their site. The added benefits include hosting platform, regular upgrades, partnerships with courier companies and other occasional offers and perks CORY york

“We brought about ‘Powerstores’ in a bid to help small businesses build websites at a reasonable price and for a nominal monthly fee. More importantly, the cost of getting online is absolutely free.

We have ensured an easy and user friendly platform. If one is comfortable using Facebook and other social media, running their own website should be fairly easy, too. Also, we are always there to help and guide, but generally the platform is a ‘do it yourself’ kind.”

York had a step-by-step plan laid out to help smaller businesses across the world avail the product at nominal rates. He says, “It took us two years to build the technology. Though we have been in business for just over six months, we now have approximately 500 clients from Canada, USA and India.

Our clients can select a theme from over 50 choices and upload 100 different products on their site. The added benefits include hosting platform, regular upgrades, partnerships with

courier companies and other occasional offers and perks,” he explains. PowerStores also uses ‘responsive’ technology which fits the website to the customer’s computer, mobile phone or tablet screen for an optimised online experience.

Not only is the technology easy to use, but also easy on the pocket. The basic plan starts at just `700 a month while their most comprehensive plan comes at a modest `4000 per month.

Keeping in mind the growing online market, a startup may tend to get drowned in the vast pool of online stores. So how can someone with hardly or no online experience manages to survive? York says, “Although we give our clients a platform to showcase their features, we cannot guarantee sales. That is something that they have to do on their own. That said, we do have a marketing team which ensures that a client follows at least the 20 basic steps to get their first phase of sales started.

We are actively working towards helping merchants get business.

However, we cannot get distracted in helping them market their business, that’s not our main priority.” Every startup inevitably has to face hurdles. “Nothing is ever easy for a start-up, no matter how amazing the plan is,” York says, adding, “People are always sceptical of new companies. They have to see us

perform to be interested. Every company wants to earn the trust of their clients to make business.

Initially, and I sometimes still do it, I personally made door-todoor sales calls. For example, a while back we realized there is a lot of potential business around Panjim. I, along with the sales team, personally went around the city explaining our business plan. I think it really helps when the start-up owner gets out and talks to customers first hand.

Growth is the ultimate motive, because if a business stays content with how far they’ve already reached, there is a probability of them stagnating.

Explaining this philosophy further, Cory says, “We would like to be the best e-commerce platform for small businesses in the country. Once we build a solid platform in India, we plan on moving to countries around India such as Singapore, Malaysia, Hong Kong and China.”

Talking about the diversity of PowerStores’ clientele, York says, “We have had a few prominent businesses such as magazines, designers, painters, etc set up store on our platform.

Our platform is generally an e-commerce base, but having a content magazine base themselves on our platform just shows our diversity.”

Having lived and worked in Mumbai and abroad. Cory’s decision to set up base in Goa might confuse people considering that the State is seen more as a tourist destination. To this he says, “Goa is the place I love the best in India. It is the only place in the country an outsider can adapt to because it is a bit more relaxed than cities like Mumbai. Also, the cost of living here is relatively less.”

York concludes saying, “I believe Goa is the next creative tech hub of India. It is a pool of amazing talent and inexpensive infrastructure, reasons enough for the State to become the next big thing”

Emphasizing that service was his foremost priority, Kedar states that owning a pharmacy was never about the profits.

His first thoughts were about serving the community

ENTERPRISE Kedar Jirage

Jeevan Rekha

The life-line express

Jeevan Rekha, meaning ‘life line’, is a medical store with a difference that truly lives up to its name writes ALISHA PATEL

Wide range of products available at Jeevan Rekha

T

ucked in an alley along the bustling 18th June Road is the famous Jeevan Rekha pharmacy, a beehive of activity at any given point of the day.

Established by Kedar Jirage in 1994, Jeevan Rekha is the result of Kedar’s undying passion to serve the community. “While I was pursuing my graduation, I used to work in the real estate sector. This, however, was just a means of raising funds for me. Everything I earned there I invested in the pharmacy,” he says. Interestingly, such was his urgency to begin his mission, that Kedar opened the doors of Jeevan Rekha to the public just two days after answering his final B. Pharm exam, that too, on his sister’s license, until he got his own.

Like most businesses in this line, Jeevan Rekha, too, started off on a small scale. As business began to look up, so did their operations increase as did the hardwork that went into managing a pharmacy. Kedar’s 20 Business Goa

JUNE 2014

Everything that I have done is an achievement. If I had to pick out my biggest achievement, it would be the high standard that I have raised the pharmacy to; so much so that Jeeva Rekha is the first place that comes to mind when the need for a pharmacy arises in Panjim KEDAR JIRAGE

passion for the pharmacy could really be understood through the decision to name the pharmacy ‘Jeevan Rekha’ literally meaning life line. Such is the passion of the man for his business that he decided to do things differently.

Jeevan Rekha was the first 24 hour Pharmacy in the city. At a time when night services were unheard of, the Pharmacy was nothing short of a blessing to people in times of emergencies.

Kedar Jirage

They even offered services during the afternoon when most places were shut. “We worked around the clock; 24 hours, 365 days of the year. In our 20 years of operations, we have been shut for just three days only,” recalls a smiling Kedar.

Explaining a bit about his operations, Kedar says that they stock each and every drug that is promoted in Goa. Such is their level of customer service

that they even go to the extent of procuring a particular drug even from outside the State if the customer requires them to.

He also reveals that their drugs are purchased from well reputed wholesalers from around the city. “In order to maintain a high quality standard, we have even tied up with associations like the Chemists and Drug Association of Goa (CDAG) and the Food and Drug Administration (FDA).

When asked about his secret to success, Kedar is quick to reply that hardwork and only hardwork is his biggest secret to success. “We grew gradually, and at a safe pace. We were able to serve the community around us to the best of our abilities and I am happy with the reputation that I have built today,” says a content Kedar.

Delving into the 24 hour operations that Jeevan Rekha pioneered, Kedar states that though they do not keep their shutters open throughout, they are still a 24-hours pharmacy.

Like most businesses in this line, Jeevan Rekha, too, started off on a small scale. As business began to look up, so did their operations increase as did the hardwork that went into managing a pharmacy for Kedar

“Today, we operate via phone calls” informs Kedar. “Thanks to the increase in the number of 24 hour pharmacies, we do not feel the same pressure as we did 20 years ago” he adds. He further states that Jeevan Rekha enjoys exclusive tie ups with major hospitals.

Emphasizing that service was his foremost priority, Kedar states that owning a pharmacy was never about the profits. His first thoughts were about serving the community, and he did exactly that.

“Everything that I have done is an achievement. If I had to pick out my biggest achievement, it would have to be the high standard I have raised the pharmacy to; so much so that Jeeva Rekha is the first place that comes to mind when the need for a pharmacy arises in Panjim,” says Kedar.

Every business venture brings along with it, its fair share

Jeevan Rekha means life line.

Living up to this name, Kedar Jirage decided to run his business differently.

At a time when allnight services were unheard of, this Pharmacy was a blessing to people in times of emergencies.

Though they do not keep their shutters open 24-hours now, they operate via phone calls Large stock of medicines kept at Jeevan Rekha

of struggles. In Kedar’s case, apart from a few initial struggles while establishing Jeevan Rekha, the journey has been smooth sailing. “My team and I have enjoyed a mutually benefitting relationship and as our growth

was a gradual process, it made my journey easy” he says.

Having built a successful enterprise, the next and most obvious step would be expansion. This, however, is not on the cards for Kedar who says that though the thought has crossed his mind, he has

www.businessgoa.net not ventured into expansion.

Explaining the reasoning behind this strategy, Kedar says that running a pharmacy is a mammoth task. Expanding his operations would mean having to divide his attention between stores. “Managing the stores is something that I look into personally and I would not be comfortable dividing my attention.

People have even approached me to franchise to them the brand name Jeevan Rekha, but I have not accepted any offers. It is too close to my heart,” he says with a smile.

Despite having diverse interests in farming and manufacturing of paper bags, Kedar’s heart lies with Jeevan Rekha. “The Pharmacy takes up a lot of my time and I know with this I will never run out of business nor will it ever get too much to handle. I am content,” he says with a look of satisfaction

JUNE 2014

Business Goa 21

INTERVIEW OF THE MONTH

Ashley Gomes

www.businessgoa.net

Motosports will put Goa firmly on the world’s adventure tourism map

Ashley Gomes, the man behind the Gomes Race Track, India’s first and only MX track, speaks about the trials and high points of making a career out of his passion in a chat with Rachel Fernandes. Excerpts of the interview:

How did you get into motorsports?

I have always been adventurous.

Speed has always thrilled me and the awareness that speed thrills, but also kills, has made me more interested towards exploring this great sport of man and machine.

I knew that this sport will never die, nor even slow down, as R&D of all automobile manufacturers are constantly inventing and innovating and the competition was getting better and better.

That’s how I decided to seriously get into the sport as I had already foreseen my future graph, first to become a rider, and then to get into organisation of the sport.

Why an academy?

Of course to pursue my motorsports dream, but also to try and save as many lives as possible. Over the years, we have seen India grow from Fiats and Ambassadors, and Rajdoot and Yezdi, to the latest top class vehicles. Roads, too, have improved. Sadly, more and more people are dying in road accidents. I thought I could use my expertise to train our youth.

You started the first and only MX track in the country, in Goa. What investment did it entail and was it easy convincing potential investors?

First of all, I was not getting the support of the Goa Government;

forget financially, not even moral support. Then, in 2001, I got a break. The BJP had just come to power and I, as always, asked for an appointment with Manohar Parrikar who was the new CM. There I was, trying my best to convince him about promoting motocross and safety courses to save youth from dying on civilian roads. To my surprise, I spoke for over 15 minutes without interruption. The CM was patiently listening to me. Soon, Goa witnessed live, for the first time, the first National Racing Championship, which was held at Panaji’s Campal Parade Ground.

In 2003, Goa launched the first MX race track in India, the Gomes Race Track, at Candolim.

In the same year the first ‘TVS Sports & Tourism Goa Gold Cup MX Championship’ was inaugurated by the CM. This championship rose to become the most prestigious racing event in the country. Foreign tourists used to check the dates of our races and accordingly book their charter holidays to Goa. Such was the impact of this sport, that Calangute started changing from a beach destination to an MX destination. Of course, it was financially successful, that was till 2005, when the BJP led government fell. Then, till 2012, with no support from the government, it started going down.

Yes, it was easy convincing

(From left) MLA Benjamin Silva, MLA Glenn Ticlo Souza, Giuseppe Luongo, Minister Avertano Furtado, Dr Wolfgang Srb and Ashley Gomes (extreme right) with the Goa MX delegation which visited the FIM Motocross World Championship in the UK

22 Business Goa

JUNE 2014

those required to invest, especially the automobile industry, who know its potential.

In fact, TVS Motors have backed me till date. The financial burden was not much, as my father gave me our ancestral land to pursue my dreams.

There is a lot of talk of adventure tourism being encouraged in Goa in a bid to attract quality tourists. Is this feasible?

Our CM personally knows that this sport has the potential to attract quality high-end tourists. The feasibility of the success of MX in Goa is a foregone conclusion.

Planning has been on since two years now, and several meetings have been held. The execution will come forth soon.

Wait and watch what we, with the support of Parrikar will do in the days to come. The fact that your magazine is interviewing me on the economical benefits of this sport says it all. It gives me more confidence that the adventure sports concept that our government is planning on promoting is the impetus that we are headed in the right direction.

Has there been enough of bureaucratic support? If not, what else do you feel needs to be done?

Bureaucracy and politics is not my cup of tea I only run the sporting side of it. Handling bureaucracy is the prerogative of the CM. I am confident that with his administrative prowess, he will strike the right chords to make this dream come true. How urgently, too, is his decision.

Apart from cricket, few other sports in India get the necessary support and

Ashley Gomes

backing, despite great earning potential. What needs to be done urgently to promote motorsports as a financially viable sport across India?

MX was not heard of in Goa or India. I launched a totally new concept. Then how come, within just two years, it was declared the number 2 sport of our State in respect to spectator turn-out?

Most sports in our State have been given infrastructure worth crores of rupees, but Motocross was given nothing and yet we did it. Imagine what I could have done if I got the same backing.

I invested my own land and money to purchase racing bikes.

I fly down coaches from Europe, at my own expense, to train our boys, I have to spend lakhs on our riders to participate across India. Without the government’s support we became the best organisers in the country and the National Federation was pleased to give us the rights to host the Nationals. Sadly, however, on December 19, 2011, it was our own government that sent in 100 police armed with AK 47s and without any order from any authority or court, who trespassed into my private

Adventure tourism is the new mantra that the State is chanting in a bid to enhance its tourism image and attract quality and high spending tourists which will, in turn, benefit the economy of Goa exponentially property and forcibly stopped a legally approved MX race.

Parrikar, who was then leader of opposition was the chief guest and witnessed first-hand what happened. But now the time has come for Motocross to take center stage. Just wait and watch.

What are your hopes and aspirations from the new Central Government?

I have no doubts that things will change for Motocross in our country through Goa. You were a part of a State delegation that travelled to England in August 2012 “to explore the possibility of introducing motocross in Goa and explore the possibility of hosting international motocross events in Goa in the future”. What was the outcome of that trip?

Everything went smoothly, and a

very positive feedback was given on our return. Since then, we could not do much, as our State faced a financial crunch and Motocross being an expensive sport, we had to have patience and pray that the BJP comes to power at the center too, so that the CM does not face anymore financial or bureaucratic hurdles.

News has been doing the rounds of plans to host an MXGP Championship round in Goa in the near future. Has a date been chosen?

MX reached its peak in Goa but was abruptly brought back to square one on December 19 2011. Today it is stuck in the District Court and High Court, awaiting final orders. Until it is proved legal, we have decided not to organise the Championship.

Once this is done, say by June/ July, we shall be in a position to launch the MX Championship by November 2014.

The start line at the TVS Championship at the Gomes Race Track

Then, in November 2015 we intend to launch a new MX track on par with international standards, with each lap being around 2 kms, and host the Asian Championship, along with our Indian National Championship.

If all goes as per schedule, Goa will be ready to host The FIM Motocross World Championship, in 2016.

How will an event of this magnitude be beneficial to the economy of the State?

If Goa hosts the FIM Motocross World Championship, the State will permanently be inscribed on

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the racing calendar of the world.

There are millions of MX fans across the globe and what better excuse for them to visit our State.

Take the example of Singapore.

They advertise for the Formula 1 which they host once a year, as F1 packages inclusive of flight tickets, hotel stay and race tickets. Goa can advertise in the same manner. As for the success of this mega event, it’s a foregone conclusion, that Goa will hit the charts instantly and be converted into a global adventure sports destination. As regards, to this project becoming a white elephant, that question does not arise at all. As an investment, it is not much as no concrete stadiums are needed. The sport is conducted on natural terrain, in the mountains without even cutting trees, thus maintaining the natural beauty. Moreover, not much of maintenance goes into maintaining an MX track. It’s a win-win situation all the way

JUNE 2014

Business Goa 23

GOAN BRAND

Aparant, meaning ‘the land beyond end’ is one of its kinds and one should visit it to gain knowledge about Goan art and culture

Aparant EMPORIA by GHRSSIDC

Take home a piece of Goa Aparant Emporia by GHRSSIDC Ltd, is a one-stop-shop for Goan memorabilia, making it a favourite haunt for domestic and international tourists looking to take back a piece of Goa writes Devisha Bhatia

GHRSSIDC’s Neuginagar based flagship Aparant store

E

stablished in 1980 to give Goan artisans a space to re-create the heritage and culture of Goa, the Goa Handicrafts Rural & Small Scale Industries Development Corporation Ltd. (GHRSSIDC) manufactures and sells products of rural, cottage, handicrafts, village industries and handloom and textile goods. It also extends its support to the artisans and handicrafts through its various beneficial schemes and activities.

Best of all is the handicraft emporia set up by GHRSSIDC, Aparant. Translating into ‘The land beyond the end’, Aparant exhibits a riveting range of unique Goan handicrafts.

That Aparant is a success

Aparant emporia in Goa • Panjim (Crafts Complex at Neuginagar, at the Tourist Hostel, at the Udyog Bhavan and at the KTC bus stand) • Calangute • Dabolim • Loutolim • Fatorda • Mapusa, • Margao • Vasco is evident from the number of buyers one will easily find at their various stores. Interestingly, this success can rightfully be attributed to its innovative style of transforming indigenous woods like jackfruit, mango and coconut into useful and eye

Some of the range of indigeneous products available at Aparant stores

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catching articles. Their range of handicrafts include attractively framed paintings embossed on aluminium and painted using special metal paints, hammocks, threads interwoven by skilled hands to craft a variety of fascinating products including table covers and lampshades and items artistically carved from wood, Batik paintings on cotton fabric, natural jute fibres used to create a range of useful products such as handbags, mobile covers, bottle holders, etc, jewellery, soft toys, not only for kids but also with utilitarian value such as curtain holder, telephone covers, etc, one will find all this and much more at any of its 12 locations across the State.

Aparant’s fame and specialty, though, lies in the eye-catching range of decorative and gifting articles – coasters, vases, keychains, flower bouquets, etc made using shells available in abundance along the Goan coastline. Utilitarian cane and bamboo objects such as baskets, hairclips, trays and furniture items, too, are a huge hit and rank among their high sellers. Also among their best sellers are the various decorative and utilitarian artworks made using the humble

coconut shell and the pottery items made using the red soil that Goa is so famed for. Keeping with the changing trends, Aparant has also gone on to include the highly in-demand Azulejos and hand painted ceramics, cultured ivory handicrafts, wax candles and bronze and brass wares.

Interestingly, most of these wares are sourced from various individual artisans or artisan groups from across the State.

In fact, GHRSSIDC also host regular training progammes to help them stay updated with latest technology and techniques.

Experts train artisans in wax craft, making of jute bags, embroidery, tailoring, sea shell craft, etc., in places such as Margao, Priol, Navelim, Ponda, Pale, Sattari, Shirocim and St. Andre.

These training programmes help increase self employment opportunities for rural youth and women who make up these artisan groups and thus, make them proficient in producing handicraft items which are then sold at the Aparant stores.

While the Stores definitely give visitors a wide variety of hand crafted gift items and mementos to choose from, their hotsellers include the shell crafts, hand painted ceramics, coconut shell craft and cane and bamboo craft, all of which speak out some story of Goa. These curios are eye catching for every tourist visiting Goa and make for ideal takeaways as well.

Keeping with the changing trends, GHRSSIDC has ensured that those unable to visit the stores don’t miss out via their online shopping portal www. ghrssidc.org. Here, too, one will find on offer the wide range of handicrafts including ceramic mugs, tile paintings, lamps, baskets, idols of God, jute bags, soft toys, candles, file holder, etc are now just a click away

EVENTS OF THE MONTH

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Toastmasters Club’s Annual Conference in Goa

T

he Toastmasters Club recently held its 41st annual conference, a much looked forward to event. Held over two days, the conference witnessed the presence of 300 speakers from Delhi, Pune, Hyderabad, Mangalore, Mumbai, etc. The hosting of the conference was headed by Farida D’Silva Dias.

The first day witnessed action at Dona Paula, at The International Centre Goa. Various speakers from different cities spoke on a range of topics.

The Conference was formally

inaugurated by the Governor of Goa, Bharat Vir Wanchoo.

This was followed by a cultural event, a performance which was thoroughly enjoyed by the Chief Guest and all those in the audience.

The venue for the action on the second day was NIO, where the Chief Judge was Akbar Khan.

Toastmasters spoke on gratitude, motivation and inspiration.

One of the most inspiring and motivating speeches was given

by Sai Prasad, the first Indian with a disability to go sky diving,

stay in the Grand Canyon for seven days as well as live in the Antarctic Continent for 15 days. Prasad also spoke about his experience on the popular show Satyamev Jayate where he was invited to speak about his will to create awareness about how various employment opportunities can be generated for people with disabilities.

Some of the other speakers who spoke on various topics were Amey Hegde, Prakash Iyer and Siraj Syed.

The International Speech Contest, which saw active participation, was won by Aditya Maheswaran. He will now go on to represent India at the semi finals and finals slated to be held in Kuala Lampur, where 30,000 speakers from different countries come up with the best of speeches.

District Governor Prasad Savani, who has been a member of the Toastmasters Club since 1994 believes the Club imparts skills and confidence to express oneself in various situations. He

described the Toastmasters Club as one of the most useful sources of effective communication for professionals, students and even parents.

Speaking about the benefits of being a member of this club, Ritu, a dentist by profession has particularly been fond of this club since 2001, when her teacher introduced her to this club and since then the club has played a major part in her life. Jervis Pereira, the Vice President Public Relations of the Goa Toastmasters Club said, “Conferences like these are an ideal platform to interact with likeminded individuals who are interested in self development and to network with professionals from various metros in India”.

The speakers of the Conference returned home happily as the result of this conference achieved some winners as well as training experience.

This highly successful conference gave the speakers learning cum enjoyable experience

Manisha Salkar and Neha Naik host exhibition Manisha Salkar

F

or Manisha Salkar of Lisha’s Boutique and Neha Naik of Asmi Creations, May 2 was truly auspicious. The designer duo inaugurated their exhibition at Hotel Mandovi. The exhibition was inaugurated by Ramnath V. Quenim, Managing Director of 26 Business Goa

JUNE 2014

Neha Naik

Mandovi and Pratima Dhond, Treasurer of Goa Chamber of Commerce and Industry.

It was a well planned exhibition with a wide range of garments designed to fit every body type ranging from saris, blouses, cocktail gowns to western wear.

“The designs used, play with various colours and print so that every outfit displays character and style.

What sets the bold designs apart are the dramatic patterns with minimum use of embellishments”, said Manisha who has been a part of the fashion industry for seven years. She further explained the use of light weight fabrics like chiffon, linen and silk drape,

used to give the body a longer and leaner look.

Playing with bright colours of the season such as cherry red, wine and royal blue, she has designed the perfect evening wear, from floor length gowns to cowl dresses and toga dresses.

“I love anything that makes fashion accessible for women of all ages. Fashion is essentially about having fun, making oneself feel great and expressing your personality.”

Speaking about her collection, Neha said, “Joining the fashion industry was a childhood dream. From a young age I used to mix and match colours.

I started off with designing my own clothes. Seeing my passion and talent, my husband inspired me to take it up as a profession”.

Neha has used materials such as brocade, crepe, jute, silk, raw silk and lace for her collection

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Bathroom Accessories Chest of Drawers

Office Tables starting at ` 7,500/-

Candle Holders Storage Jars

Designer Mugs

Office Chairs starting at ` 2,700/-

Wooden Trays & Cutlery Holder

Merces

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Mapusa

Store Timings: 10:00am - 8:00pm Sunday : 11:00am - 6:00pm For corporate enquiries, please mail at: shopping@cmmgroup.in

Raj Raunak, Shetyewaddo, Duler, Mapusa, Goa. +91 7774004228

Today, the hospitality industry is among the most sought after careers. Decades back, however, it wasn’t the same. Sadhana says that in the late 60s and early 70s, people believed the role of a woman was restricted to maintaining a good home and that the hospitality industry was largely male dominated

LADY POWER Sadhana Mukundan

No easy ride to the top Working in hospitality is never boring; each day brings with it something new and exciting. The experience is all but easy. Each day has its challenges, anxieties and excitement.

Also, you get the opportunity to meet people from all over the world

Sadhana Mukundan

S

adhana Mukundan’s foray into the world of hospitality management at the Bogmalo Beach Resort was neither incidental nor meticulously planned. “It was never what I initially planned as a career. I wanted to be a lawyer, but fate had other plans for me.

My elder sister was in the preopening team of Bogmalo Beach Resort under the Oberoi banner.

The then executive housekeeper, Alka Sharma knew both, my father and sister, due to which I was aware of the actual work structure and discipline that one was expected to observe. It was this insider knowledge which enabled me to venture out into this industry with confidence and enthusiasm. Soon after joining The Oberoi Bogmalo, I went on to complete six months training at the Oberoi Delhi and got back to the Resort to join as housekeeping executive. Four years down the line, I was promoted to executive housekeeper,” she says.

To a layman, housekeeping is akin to a task with hardly any effort going into it. The reality, however, is very different.

28 Business Goa

JUNE 2014

According to Sadhana, the reality dawns on one only when they work in the department themselves and realize the high level of precision and effort that goes into every detail, right from making the bed to perfecting the layout of the furniture and placement order of room amenities. “Housekeeping is the reflection of the hotel.

Guests make an opinion of the hotel based on the hygiene and cleanliness standards and the final touches rendered in every room. These are factors that create a visual impact leading to every guest feeling welcome and comfortable,” she says. Claiming that she thoroughly enjoyed her tenure in housekeeping with the amount of innovation she got done, Mukundan adds, “My strong foundation in the department definitely helped me to be involved in all other areas of work relevant to this industry.

That apart, my dedication, hard work and passion to grow along with this property was noticed by my seniors, especially the Chairman Dr. Mittal who gave me the platform as General Manager

Sadhana Mukundan speaks to MONALIZA DIAS about her journey from housekeeping to GM

(GM) and entrusted me with the responsibility of managing this 126 room beautiful property,” she reveals.

Today the hospitality industry is among the most sought after careers. Decades back, however, it wasn’t the same. Sadhana says that in the late 60s and early 70s, people believed the role of a woman was restricted to maintaining a good home and that the hospitality industry was largely male dominated.

“Families didn’t want their daughters working in hospitality as they felt it would probably deter marriage proposals. I remember hearing from many people who were working with the Oberoi group that senior women executives of the hotel would visit homes of the lady staff members assuring family members of the safety measures being strictly observed with regards to discipline etc,” she recalls.

Women have today grown to be equal and at par with their male counterparts. “The most important and vital jobs today are held by women and they strike the right balance between their home and career. For me, the confidence and trust put in me by my Chairman to run the hotel is nothing but a validation of how far women have reached from 60 years back. To an outsider, working in a hotel would look like a cake walk. However, the ground reality is very different,” she says.

“After I took over as GM, I did a complete back office make-over of mechanical, plumbing and electric work. I also opened a lounge area after realizing that many of our guests have to travel around forty five minutes for entertainment. We even started a Casino. Gone are the days when hoteliers could be rigid about rates. With stiff competition, many a times we had to modify our packages and think of attractive inclusions,” she says about her working style as

General Manager.

Sadhana says, “Working in hospitality is never boring; each day brings with it something new and exciting. The experience is all but easy. Each day has its challenges, anxieties and excitement. Also, you get the opportunity to meet people from all over the world.”

Sadhana believes that there is no short cut to success. “One of my first achievements after being promoted as GM was having the star grading done of the property. We managed to meet and fulfill all the criteria set by the assessment team. We also won the Tripadvisor award making me and my team feel very content at where we stand as a product.

Also, we have created good relations with local residents of the village, something that was always a matter of concern in the past. Now we support one another, as and when the need arises. Undoubtedly sometimes we do have situations beyond our control, but during such moments, I just take a deep breath and face the situation in a right frame of mind – calm and composed. It really does help,” she says.

Rising to the top is no easy task, but if you have the determination and dedication, success is guaranteed. “I would rather call the difficulties that I faced as learning experiences than setbacks. Success is when you achieve the goals you set for yourself and others.

However, we cannot stop at that. If we do, we are most likely to stagnate. We must strive to achieve more. I would never consider myself to be completely successful because I will always want to achieve more and more.

To quote Robert Frost’s ‘Stopping

by Woods on a Snowy Evening’, “The woods are lovely dark and deep but I have promises to keep and miles to go before I sleep and miles to go before you sleep,” Sadhana says philosophically

professional dossier E.O. Mendes

Being from the port town of Vasco, Mendes took up a lot of marine cases and became closely involved in maritime law which deals with laws pertaining to the seas and the vessels operating on sea

advocate

“We need to provide opportunities for Indian law students to think globally” E.O.Mendes

T

o be frank, I was never interested in law as a student. I always wanted to pursue a degree in mathematics.

Unfortunately due to a lack of takers for mathematics, I took up English literature in Dhempe College of Arts and Science.

Following my graduation, I enrolled to study Law at the Salgaocar College of Law, as it was just next door to Dhempe College. Gradually, my interest in the field grew. I still recall, during my college days, we used to visit the then Judicial Commissioner’s Court (now High Court) and observe the proceedings.

After graduation, I worked with the Mormugao Port Trust for five years. During this course of time, I was closely involved with the Trade Union and would handle most of their labour welfare matters and thus, spent a considerable amount of time in industrial courts. During this time, I simultaneously completed my Masters in Law and began practicing as a lawyer.

To say that I have specialized

Unfortunately, today in Goa, there is a drain of good quality lawyers as they are picked up

by MNCs, corporates and other firms based outside the State. This in turn is a huge loss to the law body in Goa. I would like to see the business community in Goa improve exponentially so that our talent can stay back here in a particular area of law would be wrong, especially with reference to Goa as there are areas which we work in and areas that we don’t. Fortunately for me, I was practicing labour laws, which was one of the largest spheres in the State. I also worked in areas of civil law, criminal law, appellate judiciary works etc. I was one of those few lawyers who did everything and I think it would be easier to mention the areas that I have not worked in – taxation.

Being from the port town of Vasco, by default, I took up a lot of marine cases and became closely involved in maritime law.

Maritime law deals with laws pertaining to the seas and the vessels operating on sea. It comprises of two sets of practice – one is admiralty jurisdiction, in which you generally look at the arrest of ships and vessels for dues or claims made against them. The second is maritime commerce, which deals with bills, charters and other aspects of the field.

Over the course of my career, I have also taken a keen interest in arbitration and have been involved in arbitration both in India and abroad. I have been engaged in arbitrations in China, the Hong Kong HKIAC, Singapore SIAC, as well as associations in Paris and London. Gradually, I also got into mediation and now, I am an accredited mediator from the IIAM. As a mediator, I was asked to mediate in court annex procedures, but I prefer advising clients as a mediation counsel.

What we try to do here is advice our clients to resolve their issues without the conflict of adversarial litigation. As a result, we are able to manage both, the business and the relationship as it was while solving the problem.

During an arbitration proceeding in Singapore at the SAIC, I met with Haresh Jagtiani, a senior counsel. Over a discussion, we felt that India needs its own home-grown legal firm aside from the foreign firms here. As likeminded individuals, we got together and formed Oasis in Mumbai and as we had a few matters in Goa, I took over the handling of the Goa branch. Four years ago, we were overseas showcasing our strengths. Today, we are doing them in the comfort of our own lands.

Setting up my own office in

Vasco did come along with its share of struggles and at a time when earnings for lawyers were very meagre, it was a big risk.

Shouldering the responsibility for a bigger office such as Oasis, too, was a risk. However, I am glad I took the risk and today can see bright results.

Among my most memorable cases would have to the case where I represented the EuroCosmo Bank of Russia and my opponent was Butta Sing and Company. I was appearing for the deep sea fishing industry and it was the first time I was involved in an international maritime matter. Another case I vividly remember was a hotly contested case between Karl Vaz and Anil Salgaocar. This is the only case that I have lost so far, but it remains a strong memory.

When not busy with the law, my passion for plants takes over, especially orchids and roses.

Agriculture is a passion. I come from a family of lawyers. They say never marry a lawyer, but in my case it has worked beautifully as both my wife and I are very understanding of each other’s schedules and our children Nadia and Ryan, too, have taken up law. I get a lot of support from them as they understand what the job is about.

Unfortunately, today in Goa, there is a drain of good quality lawyers as they are picked up

by MNCs, corporate and other firms based outside the State.

This, in turn, is a huge loss to the law body in Goa. What I would really like to see is the business community in Goa improve exponentially, thus ensuring that our home grown talent can stay back in Goa. What I wish from the future is to build a law hub in the State, one which can compete on an international level. We need to provide opportunities for Indian law students to think globally As told to ALISHA PATEL JUNE 2014

Business Goa 29

CAMPUS GOA

book shelf

Dempo College hosts EDUNext

Tamal Bandyopadhyay

When the State’s premier commerce college, the only one to offer a Post-Graduate Management program in Event Management and Goa’s largest circulating English Daily, come together and collaborate with the Government of Goa, they are bound to create magic. The magic is the impressive education fair – EDUnext Goa 2014, providing education and career solutions to generation next for the second successive year.

The two institutions under the “Dempo” umbrella, Dempo College and The Navhind Times collaborated with the Government of Goa to bring to Goa’s student community an Education Fair with a difference.

The fairs boasted of exhibitors, education service providers, representing reputed institutions from both, within the State and outside. These education service providers showcased their range of services to numerous students

and their parents from across the State, so as to enable them to make informed career choices about the right courses and the right institutions.

EDUnext provided a meeting ground for education service providers and education seekers, giving an opportunity for one-toone interaction between the two, thus ensuring that each query was addressed satisfactorily.

Experts from different fields conducted technical sessions during the course of the two days on fields as diverse as hospitality, banking, finance, IT, engineering and careers in humanities

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Sahara: The Untold Story “Sahara: The Untold Story,” is based on painstaking research to demystify India’s most secretive and largely unlisted conglomerate, the Sahara India Pariwar.

It also delves into the group’s ongoing legal battle with the market regulator.

Entrepreneur Subrata Roy, the guardian angel of the Group, whose feet are touched by everybody in the Pariwar, wants to reach out to a million lives and feels impeded and shuttered in by regulations. So the clash with the regulators was inevitable. But when a regulator slams one door, maverick Roy opens another. This play has been on since 1978, when Sahara was set up. Roy is well known for glamour and his association with film stars, cricketers and politicians. He exudes patriotism, with a statue of Bharat Mata (the presiding deity of the group) on a chariot driven by four fierce-looking lions adorning his headquarters in Lucknow. He is the Robin Hood of a country where only 35% of the adult population has access to formal banking services. This India and its millions of illiterate poor depositors stand in awe and admiration of him. But does he also exploit them? Do these poor people actually keep money with him or are they fronting for others?

Publisher:

BG CROSSWORD 55

Jaico Publishing House

QUIZZARE

NAAC reaccredits Smt Parvatibai Chowgule College with Grade ‘A’

National Assessment and Accreditation Council (NAAC) an autonomous institution of UGC (University Grants Commission) has re-accredited Smt Parvatibai Chowgule College of Arts and Science with Grade ‘A’ with a cumulative grade point average (CGPA) score of 3.41 on a scale ranging from 0 to 4. This score is the highest in the State of Goa. Chowgule College had submitted its self study report for assessment and accreditation for the third cycle in December 2013 and the NAAC Peer Team visited the college in March 2014 for validation of the report.

30 Business Goa

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Prior to that, Chowgule College was awarded the Best Educational Institute award at the Business Goa awards for Corporate Excellence 2014.

The performance of the College has been recognized at the State and national level

by Goa University and the University Grants Commission; and at the international level, by Ford Foundation, USA. Chowgule College is marching towards global leadership in imparting relevant education of high standards in a disciplined and conducive environment. The past few years has seen faculty from various universities like University of Sussex, the Sophia University and Waseda University in Japan, and University of Nipissing, Canada deliver lectures and conduct courses for both, students and faculty, enabling them to understand better the global education system and prepare them for the same

Across: 1 – Regional airline based in Innsbruck, Austria (8) 6 – Luxury hotel chain owned by ITC (8) 7 – Premier international team event in tennis – the _____ Cup (5) 9 – Popular brand of vanishing cream (5) 11 – Fashion fad or performance of a financial market (5) 14 – _____ Carta – one of the first legal charters (5) 16 – Highly elastic fiber, worn by superheroes (7) Down: 1 – Popular beer brand from the Asia Pacific Breweries (5) 2 – Popular tourism destination on the Cook Islands (9) 3 – Legal term for security interest granted to secure the payment of a debt (4) 4 – Leading insurance provider (5) 5 – Car rental agency (4) 7 – Daylight saving time, in brief (3) 8 – Word completing Holiday ___ and Panjim ___ (3) 10 – Hindustan Machine Tools, in short (3) 12 – Common suffix after company name, short for established (4) 13 – Database in short (2) 15 – Kejriwal’s party (3) answers to crossword 54 Across 1- Rajat Gupta 6 – Xperia 8- Baddi 9- BEST 10Nalli 14- Sabre 15 – Slate 16 – Asus 17 – Notes Down 1 – Ray Ban 2 – Jindal 3 – Taxi 4 – UAE 5 – Ajax 7 – Rust Belt 11 – Atlas 12– Lotus 13 – Levis

LETTER FROM AMERICA

High-speed access on a mobile device now also means that you are never away from your office. Your bosses and colleagues expect you to respond to work-related issues even if you are at home or on holiday. The blurring of lines between work and home appears to have led to a high incidence of stress-related illnesses

Technology & Life in the 21st century The Columnist writes about advancements in technology and its implications on our lives

Jay Dehejia The Writer used to be a senior corporate executive, now a social entrepreneur.

He spends most of his time between Goa and New York jay@dehejia.net

D

o you remember the time when we had to wait for our teenager to complete his or her call so that we could use the landline phone? Today, there are over six billion mobile phones in use around the world.

Anytime of the day there are people speaking or texting, listening to music, reading an e-book, or are engaged on some social media site on the phone. I sometimes wonder if we will lose our ability to communicate faceto-face.

In 1965, Gordon Moore predicted that computer power would double every 18 months leading to smaller devices perform multiple tasks at ever faster speeds. Moore’s Law, as it came to be known, has transformed the computing industry in such a dramatic fashion that our day-to-day lives have seen a complete revolution.

High-speed wireless networks have made it possible for us to change the way we live and work. 20 years ago I was amazed that I could perform simple banking transactions sitting at a computer at my desk, wired to what was then considered a ‘fast’ Internet connection of 9.6 Kbps. Today,

we can be on the move and use our mobile device to pay bills, trade on the stock exchange, and deposit our cheques by sending our bank a picture that we have clicked, watch a movie or listen to music. That is only the start.

The download speeds are close to 90Mbps. Google has just invented eyeglasses that can take pictures at the blink of an eye, and these photographs can instantly be sent to friends and people around the globe using ‘Instagram’ on Facebook or other social networking platforms!

A few weeks ago the US Federal Communication Commission announced that the concept of ‘network neutrality’ should be abandoned. Currently, Internet service providers and governments are required to treat all data on the Internet equally, not discriminating or charging differentially by user, content, site, platform, application, type of attached equipment and modes of communication. The issue being discussed is whether those who can afford to pay more may request and pay for access to a faster Internet service, and whether it is possible for providers of Internet service (or the last mile) to block users from receiving proper signals. Vinton Cerf, considered the ‘father of the Internet’ and co-inventor of the Internet and others have spoken out in favour of net neutrality.

Opponents of net neutrality claim that broadband service providers have no plans to block content or degrade network performance.

In many parts of the world, you can scan your airline or railway boarding card using a mobile phone. Long-distance medical diagnostics can now be achieved using fast Internet speed and a mobile device.

It is possible now to have an ‘electronic’ wallet in your phone that would allow you to store everything that you normally keep in your physical wallet.

The mobile device was once a phone allowing you to make

calls. Today it is a mini computer, a TV set, a stereo and a camera in the palm of your hand. You may never need a connection to a cable coming out of the wall.

Has all this new technology improved our lives? I asked this question to people in all walks of life. The answer is mostly the same. Most people believe that their quality of life has improved.

They believe that being always connected gives them the edge that they did not have in earlier years.

I would argue that people’s lives have changed in such a way that they have lost their freedom and privacy. With today’s Smartphone, one is never lost!

You are monitored by the police, or even by friends or enemies, as the GPS in the phones allows everyone to keep track of where you are. This may be good if you are really lost and need help, but is that an advantage every day? The US Supreme Court is hearing a case on whether the police have the right to inspect the contents of your phone without a search warrant.

High-speed access on a mobile device now also means that you are never away from your office. Your bosses and colleagues expect you to respond to work-related issues even if you are at home or on holiday. The blurring of lines between work and home appears to have led to a high incidence of stress-related illnesses. On the social side, everyone wants to be connected to ‘friends’ using Facebook or other Apps. If you were on a street or in a subway in Manhattan, you would be amazed to see the number of people staring at their mobile phone, either reading a story from a ‘friend’ or sending a message to their many acquaintances. They are oblivious of their surroundings.

The New York State Highway Authority has now installed signs along major highways asking motorists to stop at a rest stop to use their mobile phones since

drivers are so engrossed in sending text messages that they have caused accidents.

Does one have to feel connected to others via the Internet all the time? Does that connection improve their quality of life? Are they so unhappy when they do not get a ‘Like’ on their story that they feel compelled to ‘Like’ their own message? Messages with ‘smileys’, ‘emoticons’, ‘assicons’, ‘boobiecons’ have become ubiquitous when sending text messages. The simple art of writing a full sentence appears to have disappeared for people with cell phone in hand and their thumbs doing the ‘walking’ along the small screen. The other day, WNYC, an affiliate of National Public Radio, decided that people do not have enough time to listen to news or their favourite program. They have developed an App that allows ‘people on the move’ to listen to short snippets of the program. It would be like reading only the headlines of the newspaper and nothing more.

Are New Yorkers so pushed for time that they are unable to take a few minutes to hear the pros and cons of a whole story?

Technology has brought many benefits to our lives. The time when we had to wait for days to make a ‘person-toperson’ international call has gone. The days when we had to go from shop to shop to find the simplest of products has gone.

It is no longer necessary to wait for hours on end to work out the best route for an airline trip.

It is no longer necessary to wait for an inter-library loan book to arrive to look up a reference as so many books are now online.

It is no longer necessary to wait for weeks to see if a particular photograph came out as well as we expected. Computing power, high-speed Internet, and cloud storage have eased our lives. But I question if all this has made us happier

JUNE 2014

Business Goa 31

We have had our share of these “big waves” over the years. Each wave has taught us a lesson and strengthened the Company. History does repeat itself. One thing is clear, had we being paying attention, had we been reading between the lines, we could have seen this coming

RELUCTANT ENTREPRENEUR

Predicting Storms

The Columnist talks about being vigilant to avoid a storm

I Blaise Costabir The Columnist a first generation entrepreneur whose company rotomoulds custom moulded technical parts blaise@gmizm.com

Had we paid attention to the “Power Purchase Agreement” between the Supplier and Government of Goa, we would have known or seen this coming years ago.

The Government is committed to buy this expensive power because of this Agreement.

Once the Agreement ends, no Government would ever be able to justify buying at that exorbitant rate, since the Government was buying approximately 50% of the power, the company has survived

f everything is coming your way, it is said you are in the wrong lane. Usually in business and every entrepreneur worth his salt will testify that there is never a dull moment. I am reminded of the movie JAWS and its sequel.

Just when you think it is safe to go into the waters, JAWS 2 comes along.

The usual suspects are a cash crunch, a customer complaint or even an unexpected demand from a statutory agency.

We have had our share of these ‘big waves’ over the years.

Each wave taught us a lesson and strengthened the Company.

History does repeat itself. One thing is clear, had we being paying attention to the environment, had we been reading between the lines, we could have seen it coming. Unfortunately we get so bogged down by day to day fire fighting that we fail to look up and survey the horizon.

We had to face a bouncer even before we started production. The factory was ready, the machinery was in place but there was no power. It took three month and some follow up to get the power department to stretch their line 200 odd meters.

The next memorable bouncer came after five years. I returned from the US to find the factory shut as we produced to order and there were no orders. Our main competitors had slashed prices 33% and the trade expected us to follow suit.

Today, once again we are staring at a ‘power’ wave. We had imported a CNC machine which requires good quality power to run. A private power supplier had just started operations. Despite the rate being higher by 25%, we opted for it. Subsequently, out of sheer laziness we continued using private power despite a consumer unfriendly attitude and rising cost (approx 4 X

higher than Government power).

Lazy because we should have actually been working on looking at alternative ways to use the cheaper government power.

All of a sudden, the private power supplier decided to stop or curtail production of power.

This move has left not just us but a large number of companies in a lurch. Had each of these companies been aware and paying attention to the situation, none would have been caught with their pants down. This is where the theory at B school comes to mind, scan the horizon for possible pitfalls, changes in policy etc.

Had we paid attention to the “Power Purchase Agreement” between the supplier and the Government of Goa, we would have known or seen this coming years ago. The Government is committed to buy this expensive power because of the agreement, once the agreement ends no Government would ever be able to justify buying at that exorbitant

rate. Since the Government was buying approximately 50% of the power, the Company survived.

With the agreement ending on 14th August 2014, it would have been pretty clear that the supplier would wish to shut down once his 50% customer exited. As a consolation, a few of us had got together a few days before the supplier decided to unilaterally stop the plant citing technical reasons.

Now, we have to work overtime, organise funds to be able to handle cheaper government power in lieu of high cost quality power. It is now a pressure situation where our customers are affected because our production is affected. If only we had kept a better watch on the horizon... we would have seen this storm coming and taken action earlier.

Moral of the story: Scan the horizon, keep your eyes open and ears tuned to sights and sounds beyond your Company

Advertise with The Voice of Business in Goa Reach out to a discerning, high-spender business reader. With wide circulation and quality content, this is the media vehicle that your brand should ride on. To advertise in Business Goa, call us on 0832-6456555 or 2437822.

JUNE 2014

Business Goa 33

PEOPLE TREE

When 100 people are made to wait in queue for 60 minutes the nation has lost 6000 minutes equivalent to 750 productive days which is close to 2 years

The ‘Q’ factor

The Author writes about the rising number of queues that we are forced to wait in and links them to the present day political scenario

Kishore Shah The Writer is a organisational development and talent analytics consultant. He is also the founder sponsor of Goa CSR awards shahkishorem@gmail.com

The queue is definitely a civilized attempt to get things done in an orderly manner instead of mobbing. But why systems can’t be worked out where the Q factor is eliminated or at least decreased

1

947 echoed the historic independence speech of late Jawaharlal Nehru and the most nostalgic words that he uttered were ‘Tryst with destiny’.

From then, till date, something common across the social life of our country is the visuals of long serpentine queues practically wherever we go.

India is now facing its tryst with ‘Q’ factor. Let us travel through a day of a common man, a middle class citizen who is also by the way an honest tax payer, law abider, optimistic dreamer and above all, god 34 Business Goa

JUNE 2014

fearing person. Early morning he has to line up for the washroom (if he stays in a joint family and 1 BHK) moving from there he has to somehow jostle for the bath room as here there are reservations done based on the priorities.

After a quick breakfast, as he moves out, he has to wait in queue for the public transport. As he boards the bus/train, he has to anxiously wait in the hope of a seat which also has a pattern of queue based on the non verbal body language and few who can read these cues move faster in the queue. Even if he decides to pamper himself by taking a cab, he has to again stand in the queue because that’s the code of conduct of the Prepaid auto/taxi.

At office, he waits in queue for the elevators which keep foxing him. At office, his file is in the queue. When he desperately tries to reach out to somebody on phone, invariably he hears the tune ‘You are in queue please wait’. For lunch he goes to a restaurant, again he is given a token number and asked to sit.

Not surprisingly, the seating arrangement is in a queue format.

Hospitals, grocery stores, Malls, Airports, Bus stands, all force you through queues.

If our common man decides to unwind at a spa or social event, but the torture of waiting in queue somehow keeps jumping on his back like the famous fable ‘Vikram aur Vetal’ story.

Be it school/college admission, booking of cars, flat and worse if you have some work at Government offices or you have to abide by any Government initiatives the queue actually drains you to the core.

Remember the recent ‘Aadhar card’ project where one and all had to invest with no returns minimum 2 working days. The places chosen were either devoid of basic amenities or were poorly maintained. Even If one received their card, quite a few had fatal errors and to rectify there was a facility opened up but alas, it also had its own queue The ‘Q’ factor does not spare us even at parties or social events. It is an epidemic. It seems we are simply moving from one queue to another.

The queue is definitely a civilized attempt to get things done in orderly manner instead of mobbing. But why can’t systems be worked out where the Q factor is eliminated or at least decreased? In fact, the ‘Q’ factor is a symbolic symptom of

our Managerial incompetence and the lack of value we have for ‘people as human beings’ in addition to disrespect for ‘Time’.

We all are always reminded that ‘Time and tide wait for no man’ but we seldom show our sensitiveness towards it. For you to be on time or to make your planner work there are several others who have to share, sacrifice their time. Time management is interdependent.

The dangerous aspect of the ‘Q’ factor is quietly creating and nourishing a culture which values Corruption, Jugaad mentality, ‘Chalta Hai’ attitude and ‘Ram Bharose’ systems.

What can be the probable causes of ‘Q’ factor?

1. System failure due to lack of work flow planning Work flow planning is actual visualization and experiential way of arranging and allocating resources. It simply needs a paper, pencil, concepts of work motion study and theory of Constraints. But we hardly are aware about it.

2. Socio-Political inadequacy We enjoy introspection but we fail to distil outcomes. We hold public debates on almost each TV channel but they never make

The ‘Q’ factor is a symbolic symptom of our Managerial incompetence and the lack of value that we have for ‘people as human beings’ in addition to disrespect for time

any conclusion. We are quick to engage into argument but are extremely sluggish to listen. We look towards Jugaad but we forget that it has its own limitations and side effects as it cannot be scaled for a large society and in a way it breeds complacency.

We may take decisions fast but we conveniently orphan the implementations.

3. Lack of Human Values The sheer size of our diverse population and the resource mismanagement, dormant political will has made us insensitive to humaneness. It has made us numb to the felt needs what is also called as ‘By Stander apathy’.

Let me share a real life case.

Once at a family friend’s party, as we were told to proceed for dinner, all hell broke loose in the hall, with close to sort of a stampede, because the food stalls were right at the entrance and even though there were

2 stalls for food, unfortunately they were lined up next to each other, further adding to confusion. Neither was there any announcement nor any facilitation. So the queue moved at snail’s pace in front and there ensued terrific jamming at the rear side. Since people of all shapes, sizes, age groups were in the queue, it had its own mystic pace a perfect breeding for ‘Jugaad’.

It was a sight to watch. On moral grounds, children were pushed ahead and through them the parents managed their plates.

Few tipped the caterer to get plates served through the back door! Few directly marched in the kitchen and others started with desserts!!

Let us reverse the time flow. If the planning had a bit of visualization on paper, work motion, study and a bit of common sense, then the stalls would have never been

placed near the entrance. On the contrary, these stalls would be kept at other corners and away from each other. Also if the stalls were positioned such that the food could be accessed from either side it would have facilitated 2 additional lines thus creating 4 lanes. Dedicating one to senior citizens and one for kids would have eased the flow. There could have been a separate counter for ‘second helping’.

With the fear of the queue people overloaded their plates leading to such wastage of food! Neither the host, nor his caterer had intentions of creating chaos and inspite of throwing such a lavish party, it was a disaster.

Our day to day experiences are no different than my friend’s party that I have shared above.

If you scale this anecdote and integrate, it’s a cross section of what the country is going through. In India, democracy is vibrant yet chaotic, which often

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creates the ‘Q’ factor, in turn dampening the development as it creates a vicious circle of incompetence and complacency.

Today, we see a positive trend of growing activism. While we have declared several ecosensitive resources as National assets or endangered species then why not ‘Time’ also be given the status of National asset or endangered asset? It will for sure minimize the ‘Q’ factor.

We hope that the new Government takes a serious note of minimizing the ‘Q” factor and moves away from clock time to collective time i.e. when 100 people are made to wait in queue for 60 minutes the nation has lost 6000 minutes equivalent to 750 productive days which is close to 2 years.

The newer and younger political leaders and an awakened middle class should not allow the squandering of one our most valued tangible assets – Time

JUNE 2014

Business Goa 35

antarprerna

The words that I have chosen are those that define an entrepreneur’s existence, yet there seems to be such serious disconnect in perception.

The more disconnect I see, the more I’m convinced that what India badly needs today is entrepreneurship education

Most commonly misused words in entrepreneurship The Columnist breaks down commonly misinterpreted entrepreneurial jargon

Prof. Nandini Vaidyanathan teaches entrepreneurship in several Ivy-league business schools across the world. The company she founded, CARMa (www. carmaconnect.in), mentors start-ups, family businesses and mature enterprises from across domains and geographies.

She is also the author of the bestseller, ‘Entrepedia – A Step by Step Guide to Becoming an Entrepreneur in India.

I’m convinced that what India badly needs today is entrepreneurship education. Our colleges have to take it seriously to include it in their regular curriculum so that when we become entrepreneurs, not only do we have the right reason for becoming one, but we also have the right wherewithal to become successful

S

ince I live and breathe entrepreneurship, I have the privilege of meeting all kinds of entrepreneurs. What I find sometimes amusing and oftentimes perplexing is that they all use fancy words with so much panache that it leaves me speechless! Here’s a tongue-incheek look at a few examples: 36 Business Goa

JUNE 2014

Serial Entrepreneur: (Whenever I hear this word I tend to cringe as it somehow reminds me of serial killer!)

Dictionary definition: A person who starts one business after another by successfully exiting the previous one.

Entrepreneur’s definition: A person who starts a company, gets bored with it after a point, sells it, shuts it or forgets it’.

(Wasn’t that a Hero Honda ad many years ago except that there it said, “fill it, shut it, forget it?”)

Mentor’s definition: A person who likes to validate how often he can keep repeating the same mistakes or how creatively he can make new mistakes.

Customer: (He has discovered of late that he is actually king!)

Dictionary definition: A person who buys goods and services.

Entrepreneur’s definition: Any sensible person who buys my product because I know better than he, what is good for him.

Mentor’s definition: A person who makes or breaks an entrepreneur.

VC: (Never since the dreaded SS have two alphabets sounded

Serial Entrepreneur

Customer Entrepreneurship

VC

Profit Mentor

more ominous and sinister!)

Dictionary definition: Private equity investment in a business which does not have access to capital market.

Entrepreneur’s definition: Capital which announces that I have arrived to the rest of the world.

Mentor’s definition: Capital that you will raise when you don’t need it, not when you’re desperate for it.

Profit: (Used to be an ugly word with all failed capitalists also known as communists!)

Dictionary definition: Monetary gain resulting from employment of capital in any transaction.

Entrepreneur’s definition: The difference between over invoicing and under booking of costs.

Mentor’s definition: The meeting point between your vision and execution.

Mentor: (A new species which is troubling Darwin in his grave! ) Dictionary definition: A person who is a ‘wise guide, adviser, preceptor.

Entrepreneur’s definition: Not sure who he is or what he is supposed to do, but he is

expected to wave his magic wand and make the negative effect of all my mistakes go away.

Mentor’s definition: A person who will never claim he knows it all, who is willing to share what he knows and learn what he doesn’t along with you, who will open doors for you, and if he has to choose between your good and the good of the organization, will choose the latter.

I could go on and on but I’m stopping here, hoping that I have made my point. The words that I have chosen are those that define an entrepreneur’s existence. Yet there seems to be such serious disconnect in perception. The more disconnect I see, the more I’m convinced that what India badly needs today is entrepreneurship education. Our colleges have to take it seriously to include it in their regular curriculum so that when we become entrepreneurs, not only do we have the right reason for becoming one, but we also have the right wherewithal to become successful.

If you have more to add to this list or if you have any questions on entrepreneurship, please mail me on nandini@ carmaconnect.in

Reprinted with permission from Entrepreneur

Nandini Vaidyanathan

Entrepreneur: (How I love this animal!)

Dictionary definition: A person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.

Entrepreneur’s definition: A person who is running his own business, the way he chooses, without being answerable to a boss, coming to work when he pleases, making loads of money and keeping it all to himself.

Mentor’s definition: A selfish person who does not like the way the world around him is, sets out to change it into a better place and in the process leave his footprint.

good company

Entrepreneurs in India are under a lot of pressure to ensure that the innumerable compliances under different legislations are fulfilled on specified due dates. One cannot expect every businessman to be an expert in all the complex requirements of law

Are Independent Directors ‘Watchdogs’ of the Stakeholders?

The Writer talks about the importance of Independent Directors

Swatee Shere Rane The Columnist is a Practising Chartered Accountant and Member of Institute of Company Secretaries of India caswateerane@yahoo.co.in

In the corporate sector, being a ‘Watchdog’ would mean having a watchful eye on the well-being of the business

I

write this column on the Independence of the members needed in the corporate board room, while sitting in the tranquil surroundings of my village house in Maharashtra, sitting below the jackfruit tree.

The Companies Act 2013 has made the appointment of Independent Directors mandatory for all listed companies and for certain non listed private and public companies. At least one third of the Board of such companies should comprise of independent Directors. When the Board of a company comprises of six members, in this case, as per the new law, at least two should be Independent Directors.

These Directors can hold two consecutive terms, each term for

durations of five years.

Why was the need felt to pass a legislation to mandate the number of Directors who should be independent on the Board?

The answer is very simple.

The Boards independence was sought to be legislated to ensure good corporate governance in the companies. Good corporate governance, the world over lays a lot of emphasis on the independence of the corporate Boards. Time and again the corporate world has seen a collapse of huge corporates such as Enron, Tyco Ltd., Arthur Anderson, Swissair, Parmalat, etc. Closer home, companies such as Satyam, Kingfisher Airlines, the Sahara Group of companies, failed due to poor governance in the companies.

Hence a need was felt to have a minimum number of independent Directors on the Board, so that the management and the promoters could be closely monitored.

From the time corporatisation started in India, the corporate boards have not only been predominantly controlled, and managed by the promoters, but are also being driven by their dictums alone.

The representative professional Directors were not involved with the business strategy and had an ornamental presence on the Board, to create the so called trust in the minds of the investing public. But with the changing business dynamics, the professional Directors started assuming a pivotal role in driving the destiny of the company.

Having said that, the Independent Directors monitor the functioning of the promoters and the management, why should they be called the Watchdogs of the stakeholders of the company?

Independent Directors as Watchdog: Firstly, let us understand who

watchdogs are. Literally speaking Watchdogs are dogs who are highly alert and bark vigorously when a stranger enters the house. So, in the corporate sector being a Watchdog would mean having a watchful eye on the well being of the business. Secondly, who are the stakeholders of any corporate entity? The Stakeholders of a Corporate are not only the shareholders, but also its employees, suppliers, creditors, customers, environment and the society at large. Each and every one who shall benefit by the survival and growth of the corporate entity is its stakeholder. To understand how the Independent Directors are involved in the well being of the corporate and its stakeholders, let us study the activities conducted in the Board meeting of ABC Products Ltd, wherein a proposal for setting up a new unit for captive manufacturing of one of its raw materials is put for consideration of the Board members. The meeting is attended by three promoters and three Independent Directors.

The promoters are Chemical Engineers and the Independent Directors are represented by a technical expert, a finance expert and a legal expert. At the Board Meeting, a hot debate commences, to lay down the strategy for setting up the new unit and the promoter directors start placing on record all the relevant facts. The Independent Director who is a Technical expert draws the attention of the members to options for reducing the capital costs, the best effluent treatment measures, the need to start production early and the safety measures which need to be adopted in the new unit. The Independent Director, who is a Finance expert, lays down before the members, methods of financing which are cost effective, and asks

many relevant questions on the correctness of the projections of the unit’s productivity, sales, and profits. He also presents statements showing how the investments could be made more income generating and effective and also the best accounting practises which need to be followed. After this, it is the turn of the Independent Director who is a Legal expert to appraise the board members, brief facts of the relevant legislations which have to be complied. He points to the members, that not only was the Companies Act relevant, but also the labour legislations, the different government clearances for land registrations under the direct and indirect tax departments, etc.

Although profitability and business expandability are the key factors for any investment proposal, it is critical that other factors as were brought forth by the Independent Directors in the case of ABC Products Ltd be considered for decision making. It is very important that the top management is educated on the significance of these aspects. The Independent Directors have specialized skills in their respective domain and collectively they bring in new perspectives which should be considered before taking business decisions. The board needs to keep a close watch and maintain a constant vigil on all the relevant aspects and take corrective steps to face competition, approve appropriate technological upgradation and suitably amend and adapt their business strategies to the changing needs, in the interest of all the stakeholders. Hence, it wouldn’t be wrong to conclude that Independent Directors who conduct their role with integrity and sincerity are the Watchdogs of all the stakeholders of any corporate entity JUNE 2014

Business Goa 37

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Leisurely Monsoon Sunday Brunch at Goa Marriott

Goa Marriott Resort & Spa presents the ultimate weekend brunch experience these monsoons with the reinvented Monsoon Sunday Brunch at Waterfront Terrace & Bar every Sunday afternoon from 12.30 to 3.30 pm. Partake in a colourful spread traversing a range of cuisines and indulge in pleasant conversation over drinks, amid a cozy ambience musically enhanced with the light tunes of a live band against the backdrop of the pitter patter of raindrops outside.

The re-invented Monsoon

Sunday Brunch is all about lazing the weekend away, ensconced in a cheery atmosphere with friends and loved ones, as you indulge in a sumptuous array of gastronomic delights that bring you a sense of comfort and wellbeing, as well as satiates your taste buds. Treat yourself to a range of delicacies from across the world specially rustled up by their expert Chefs to complement the monsoons.

Further, a renewed beverage component of a choice of domestic premium Wines and Beer or Champagne and Imported Spirits, and the grooviest of bands with a range of playlists will be sure to get you in the perfect weekend mood.

Goa Marriott Resort & Spa brings to you the myriad flavours of the world, with the International Street Food Festival at Waterfront Terrace & Bar from 7th to 22nd June 2014. Nothing

Rotary Club Panaji Riviera wins accolades

Siddharth Zantye, who held the term of President of Rotary Club of Panaji Riviera for the 20122013 term has had a highly successful term as President.

The Club has won several awards including the Preserve Planet Earth Award, Outstanding Small Club, Outstanding TRF Programme Participation, Outstanding Club Secretary Small Club, Outstanding Matching Grant Project Completed of the District, Outstanding Vocational Service Projects of the District, Outstanding in Community Service Projects of the District, Outstanding Club Bulletin – Monthly, Outstanding Club in Rural-Urban Relations Project, Outstanding Club in Attendance Promotion, Outstanding in Club Administration, Highest 38 Business Goa

JUNE 2014

The Rotary Club Riviera Winners

Rotary Foundation Contribution, Outstanding Club in Public Relations Project, Outstanding Club President Small Club, Outstanding in International Service Projects of the District, Outstanding Club in Polio Plus Programme, Outstanding Club Service Project of the District, Outstanding New Generation Service Project of the District, Appreciation Award for Excellence for the Outstanding Involvement by the Spouse.

The Rotary Foundation District Service Award.

The Club also has to its credit two international awards, one for significant achievement and the second place in the South Asia Region at the Rotary South Asia Documentary Film Award

thrills the soul like the exquisitely authentic mouth-watering street fare dished out along the roads, beckoning one to halt and indulge in a carefree snack or two!

Relish the tantalizing treats of the world’s streets at this very unique dinner buffet extravaganza.

Savour the ubiquitous Chaats and Vada Pav from the streets of Delhi and Mumbai, or the Kathi Rolls and Kuttu Parathas from the streets of Kolkata and Chennai. Go global with the yummiest of Crepes from France, Okonomiyaki from Japan, Tacos from Mexico, and Satay from Indonesia. Gorge on American Burgers loaded with your favourite meats, Italian Pizzas laden with the choicest of toppings, piping hot Kebabs and Wraps from the Middle East, and the humbly delectable Japanese Egg Rolls, to name a few. There’s plenty more to dig into at the Goa Marriott’s street food fest

Grand offerings from the Grand Hyatt Goa All through June, the Grand Hyatt Goa, gives you plenty of reasons to head down to the property.

Chef Nicole Illa welcomes you to the Grand Champagne High Tea every evening. The lavish afternoon spread will offer a variety of pastry and savoury delicacies that you can indulge in to your heart’s content and a selection of teas, coffees and hot chocolate and champagne. The Grand Champagne High Tea is open daily from 3pm to 7pm at the Confeitaria and Bay View Lounge. Every Wednesday night, the Capiz Bar sets the stage for you to be the star. Offering 25% discount on all beverages from 7 to 10 pm. Sing your heart out and win free drinks. Every Thursday, Nezz goes live at the Capiz Bar. Enjoy an evening of smooth cocktails, old favourites and good food

CII Goa to conduct programme on Export & Import Documentation and Procedures Any EXIM transaction is routed through and relied on Documents. A small mistake like wrong HS code may result in huge losses.

Similarly, following appropriate procedures is also very important from regulatory compliance point of view. Trade Facilitation Agreement discussed recently during Bali Ministerial Conference of the WTO also highlights provisions on streamlining EXIM procedures and documentation to cut down transaction costs. On the other hand, Custom clearance of any EXIM transaction plays an important role. It is the duty of the Customs Official to check on Classification and Valuation aspects first.

If product is wrongly classified or if it is valued incorrectly, it amounts to mis-declaration and invites allegations, penalty, etc.

To avoid such problems, it is very important for any importer or exporter to have knowledge on regulatory aspects, documentation, procedures,

valuation and classification of items to be imported and exported.

Managers and Executives from organisations especially those grappling with complexities in Import & Export documentation formalities and also Importers, exporters, service providers and entrepreneurs should take advantage of this unique opportunity to get a clear understanding on the subject.

The CII Goa programme on Export & Import Documentation and Procedures along with Import Customs Provisions related to Classification and Valuation’ has been scheduled on 19 June 2014 at Panaji Goa. Seats being limited, prior registration is recommended.

The programme would be conducted by the Director, Exim Institute (A division of Helpline Impex Pvt Ltd) an expert in foreign trade related matters.

For Registrations, contact John on 9822982979 The Voice of Business in Goa

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Magsons open their 10th store at from fresh meats, chicken and Porvorim

Magsons, the household name in supermarkets and the leading retail chain having supermarkets and gourmet stores across Goa, have launched their tenth store in the State at Porvorim. The Store was inaugurated at the hands of Rohan Khaunte, MLA of Porvorim in the presence of Marie Azevedo and Lilavati Divecha. Jaisinh Maganlal, Chairman Emeritus of the Magsons Group was also present along with his family to bless the occasion.

Magsons at Porvorim offers a wide range of speciality foods

fish and carries their signature range of specially prepared marinades for the fresh produce.

The store offers all kinds of frozen products in the vegetarian and non-veg categories which are ready-to-fry, ready-to-cook or ready-to-eat. The upper level of the store has an exclusive fresh cold cut section serving slivers of all kinds of salamis, ham, cuts and has one of the widest varieties of cheese, local and imported. The store also has a special “Health and Wellness” section serving sugar-free, gluten-free, lactosefree and organic produce.

Andrea Maganlal said “The range of offerings at Porvorim will outbeat all other Stores mainly because at Magsons, we have always believed in thinking out of the box and leading by creating our niche in exclusive offerings. The store will be wi-fi connected for the customers”

JUNE 2014

Business Goa 39

HEALTH

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Manipal Hospital Goa: Equipped to handle all kinds of Emergencies 24x7

T

aking emergency services to new heights, the Emergency Department at Manipal Hospitals is a state-of-the-art medical care centre equipped with the latest technology, including X-Ray machines, CT scans, MRI scans, ultrasounds and ventilators. The emergency department provides immediate pain relief, stops bleeding, clears obstructions in the airway, stabilises and often resuscitates the patient, among other types of medical relief, as necessary. Medical supplies are also available around the clock. The doctors and other medical staff of the department are highly experienced in the field of emergency medical care.

They are very accomplished in providing urgent medical or surgical care, comforting the patients and their care givers, and providing basic and advanced life support.

The Department is also

responsible for organising Manipal Ambulance Services.

Apart from this, the unit also offers life saving kits, external defibrillators, a dedicated team of emergency doctors, cardiac monitors attached to every bed as well as a procedure room in the emergency department.

Manipal Hospital Goa is a multi-specialty hospital that provides emergency, recovery and rehabilitative care to patients, in addition to diagnosis and consultation. Availability of round-the-clock laboratory, radiology, pharmacy and canteen services in the campus have made patients’ and their relatives’ stay very comfortable.

In addition, it is one of the few hospitals in the State to have uninterrupted power supply.

Manipal hospital offer 36 specialities along with the highest number of full time doctors teamed with a 236 bed facility with world-class operation

theatre.

Manipal Hospital Goa has been set up with the objective of making the services of qualified and experienced medical professionals available to the people of Goa. The team of medical professionals is ably assisted by dedicated paramedical and nursing staff, who have undergone specialised training at the tertiary hospitals of the group. The departments of General Medicine, Respiratory

Medicine, General Surgery, ENT Head Neck, Oncology, Orthopaedic Surgery, Ophthalmology, cardiology, neurology, Urology, Plastic Surgery, Paediatric Surgery, Cardio Thoracic Surgery, Dentistry, and Paediatrics, among others, are manned by the best healthcare consultants in the state of Goa Emergency No: 8888 70 2222

EDUCATION

Governor, CM congratulate People’s HSS for 100% HSSCE result

T

he Governor of Goa, His Excellency Bharat Vir Wanchoo along with Chief Minister Manohar Parrikar, have applauded the teachers and students of Panjim’s People’s Higher Secondary for achieving 100 per cent results in the recently declared 12th Standard results for year 2013-14.

The CM personally visited the school and congratulated the teachers and the students.

He appreciated the hard work of the teachers and mentioned that 40 Business Goa

JUNE 2014

the methods used for counselling the students and teaching should be used as a model in all other higher secondary schools.

The Governor, in a letter to the Principal, Siddharthi Netravalkar, congratulating her , mentioned that this result should be repeated every year.

People’s Higher Secondary School created history by securing 100 per cent results at Std XII examination across all the four streams, for the first time in the State.

All the 142 students who appeared for the exams, Arts (21), Commerce (33), Science (29) and Vocational streams of Auto Technology and Marketing & Auditing (59), were declared passed by the Goa Board of Secondary and Higher Secondary Education.

“We have created this record by admitting students not only from Panaji, but also from the villages in the outskirts, without having any restriction on percentages”, said Diana

Spadigam, who retired as the principal after serving for 36 years.

Rahul Deshpande, Chairman of the School Managing Committee said that the system of tracking each and every student from the first day and continuous evaluation of their performance by each and every teacher has finally borne fruit with such a historical result.

Sidharathi Netravalkar, who has taken over as the Principal, said it is a dream come true of late Jagdish Surlakar, the founder and an educationist par excellence.

Sandesh Prabhudesai, the People’s PTA Chairman said the right attitude of teachers at People’s, of grooming students at the academic and extra-curricular level created the required confidence for the students, who studied in a relaxed manner and achieved such a great success

BON APPÉTIT

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Route 66

Re-creating American comfort food From delicious burgers and hotdogs to steaks cooked to perfection and a well-stocked bar, Route 66 does bring a bit of America to Goa, says Rachel Fernandes

Route 66 and (inset) Chef Savio Noronha

I

t was the promise of American styled ‘diner’ food that initially caught our attention and drew us to the newly opened Route 66 on the banks of Panjim’s Ourem Creek. As we walk up the flight of stairs, the first sound to greet us is that of our some of our favourite retro tracks. With the likes of Deff Leppard, Aerosmith and Led Zeppelin for company, it was a gut feeling that this was going to be a pleasant and memorable meal. Quaint looking yet absolutely modern, the restaurant has a limited seating capacity, but the pace of service ensures that the wait for a table, if you have to, is not long at all.

We start off our much anticipated afternoon meal browsing intently though the eyecatching menu which is divided into sections namely appetizers, ‘wiches n dogs’, salads, burgers, pastas, New York styled pizzas, entrée and desserts. The bar menu meanwhile offers a choice of beers, cocktails, mocktails, whiskey and s c o t c h , vodka, rum,

Beer Batter Prawns

feni, cognac, wines, shooters and even a choice of milkshakes made using only Baskin ‘n Robins icecream.

Our afternoon started off with a promise of good old American styled diner food in the comfort of good old Ponje and overlooking the Ourem creek.

The beer batter prawns were the first to arrive and we were hungry enough to dig in even though they were visibly smoking hot. The crunch of the beer batter perfectly complimented the juiciness of the succulent prawns.

Though I felt that both, the batter and the prawns could have done with a pinch more seasoning, the preparation was an ideal teaser for what was to follow.

Next up on our table was

Tex Mex Hotdog

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Fillet Mignon

the fillet mignon. We asked for medium rare and that’s exactly what we got. A brilliant change from the overcooked and rubbery steaks that we usually have to bear up with. Adding a dash of drama to the dish, owner, Chef Savio Noronha flambéed it right on our table with a well timed ‘sit back to enjoy’ warning. Enjoy we did, both the show and the steak.

Accompanied with a creamy, melt-in-your-mouth potato mash, a tasty red wine sauce and a side of crunchy sautéed veggies, we savoured the generous sized steak down to the last bite.

The cheesy chilli potato wedges with their generously melted stringy cheese and diced onions and jalapenos were a delight to eat though the cheese being stuck on the paper they were served on did leave us a tad disappointed about having to let go off the ‘best part’.

For their claims of ‘diner experience’, we just had to try out Route 66’s burgers and hotdogs. We settled for one of their bestsellers, the SOB burger. Two 4 oz patties, one beef and the other pork, one basted with the Chef’s famed hell sauce (made with six varieties of chillies) the other with a hickory barbeque sauce, crispy bacon, crispy onion rings and topped off with Monterey cheese and grilled onions, the burger was big, juicy and every mouthful a burst of tastes and textures. The Tex Mex hotdog which comes topped with pico de gallo (uncooked salsa, sliced jalapeno and Monterey Jak cheese with its appetizingly tart undertones is now a personal favourite.

By then, we were pleasantly full and unanimously decided to give the dessert a skip, more than anything else, to savour the lingering taste of a delicious lunch. We promised ourselves though that we would head back often enough to try out all the tasty delights on the menu

GOABUZZ

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Wendell Rodricks hosts Khadi exhibition for charity

Mangala Wagle and Wendell Rodricks

The Wendell Rodricks Design Space at Campal recently hosted an exhibition and sale of Khadi garments presented by the Kasturba Gandhi National Memorial Trust (KGNMT). Inaugurated by Wendell Rodricks in the presence of President of the Trust, Mangala Wagle, the proceeds from the sale went to a project of the KGNMT, the St Inez based Hamara School which works for the development of street children.

The exhibition was well received by the public and attended by many including former national Creative Director of JWT, Ivan Arthur and wife Ingrid, Madhu Prasad and writer Sheela Jaywant

Sonia Suctancar

Lata Wagle

Ivan and Ingrid Arthur

Fauzia Khan Farooqui

Pratibha Joshi

Vini Tandon Keni

Ashvita Kamat

Amita Hede

Madhu Prasad

Sheela Jaywant

UK band rocks Fiesta at Baga Will and the People, a popular band from the UK, were recently in town. Their spontaneous and inspired performances brought down the house when they performed at Fiesta in Baga.

The perfect ambience and setting at the restaurant, owner Yellow had transformed it into a rock concert venue with a strategically positioned stage, ample dancing space, mood lighting and ensured that every guest had a good time as they enjoyed the perfect blend of out-of-the-box reggae and rock tunes that the band belted out.

The guests got into the groove of things as they danced the night away. The show ended with the guests demanding and encore from the band

Yellow Mehra Vinanjay

Kaii

Nandan Kudchadkar

Marisha Dutta

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Remun Bhutani

Steve Gutkin

‘Will and the People’ entertain the guests

Mackenzie

David D’Souza

Beto

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Giving new ventures the required ‘HOPE’ It was an event hailing the never-say-die spirit of entrepreneurs and providing these budding gems a conducive business ecosystem by giving them an opportunity to showcase their works/wares/skills. Habitat of Passionate Entrepreneurs aka HOPE, a CSR initiative of The Management Shoppee at Miramar was inaugurated earlier in May. Among those who graced the event with their presence were Elvis Gomes, Director Urban Development, Government of Goa, master shoe designer Edwin Pinto, Times Of India Editor K R Sreenivas, renowned percussion artist William D’Souza and of course, the man behind the whole initiative, Kishore Shah along with wife Hemangini and son Aumkar.

As a part of the initiative, HOPE also plans to conduct various job oriented workshops, seminars and pop-up bazaars to encourage the entrepreneurial spirit in the State. In fact, Edwin, of Janota Goa fame conducted a certificate course in leather craft. The initiative’s maiden pop-up bazaar, which was held on May 17 and 18 and showcased the designer collection of summer garments, bags and foot ware designed by Sunieta Narayan, a young and budding designer. The other highlight of the bazaar was tarot reading, also done by Sunieta

Kishore Shah

Swayam Chaudhari

William D’Souza

Elvis Gomes

Sunieta Narayan

Sangita Parekh and Lalit Saraswat

Elvis Gomes inaugurates the HOPE concept

Dr. Hemangini Shah

Aumkar Shah

Edwin Pinto

K R Sreenivas

Marcou Artifacts opens its store in Margao

Interiors at Marcou

Ramnath Kare

Anita Pereira

Dona Fatima Figueredo

After having a successful run in Panjim with the finest Goan souvenirs and mementos, Marcou Artifacts opened its doors to the people of Margao. The newest curio destination located at Margao’s heritage Abade Faria Road was inaugurated in the presence of Director Gaurav Khaunte, Design Partner and Creative Head Francisco Martins. Doing the honours of inaugurating the store was none other than famed Goan musician Emiliano Da’Cruz who cut the ceremonial ribbon.

The lifestyle store houses some of the most exquisite pieces in ceramics, terracotta, fiber resin and azulejos. A concept of a curio destination came into existence when Francisco Martins and Anil Counto were inspired to pioneer ceramic products and unique souvenirs depicting Goan culture. They merged their mutual interests in art to start Marcou Artifacts

Aakash Counto

Cecil Cardozo and Jurgen Martins

Lepoldina Figueredo and Francisco Martins

Melwin Chico

Richard Dias

Anil Counto

Nanda Martins JUNE 2014

Gaurav Khaunte

Business Goa 45

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Shripad Naik and Narendra Sawaikar win Lok Sabha elections

Amey Salatry starts Legal Minds, a full-service Law Firm in Goa

It was a keenly fought Elections 2014 in Goa and the ruling party, the Bhartiya Janata Party, emerged victorious in both the parliamentary constituencies in the State. Sitting MP of North Goa, Shripad Naik polled a grand total of 1,76,124 votes as against the 87,145 votes by his Shripad Naik Narendra Sawaikar closest opponent, Ravi Naik of the Congress. This is Shripad Naik’s fourth term as North Goa MP. The South Goa seat, usually considered the bastion of the Congress, too was won by BJP candidate and first timer, Narendra Sawaikar who polled in an impressive 1,98,776 votes as against his nearest political rival, the Congress’ Aleixo Lourenco Reginaldo who got 1,66,446 votes. In the elections held on April 12, the State witnessed a 76.82 voting percentage, an impressive increase of nearly 21 per cent as compared to 2009’s 50 per cent

Amey Salatry recently launched ‘Legal Minds LLP’, a boutique law firm offering expertise in niche domains such as contracts, corporate and transactional advisory, banking and business finance and intellectual property.

The firm provides comprehensive advise on full cycle contracts in diversified business portfolios including manufacturing, IT, services, franchising and real estate. Their corporate advisory section includes setting up of companies, financial market services, transactional work and secretarial/compliance/ regulatory services. They also offer full fledged services and legal advice on banking matters. Their IP services include advisory on filing of trademarks, copyrights, designs and patents and IP litigation. In addition to their affiliations with expert professionals, they also have a presence in Mumbai, Bangalore and Hyderabad

ND Agarwal, GCS, Retired Collector of South Goa has compiled a new book titled ‘Delegated Laws of Goa’. The book is a compilation of the 136 Rules made by the State Government under the powers given by the Constitution of India and in the various Central Acts along with 250 plus amendments. This is the Author’s third book. He made his literary debut with ‘Goa Mundkar Act’ followed by ‘Goa Land Revenue Code’, both of which are much sought after books and remain points of reference in courts, lawyer’s offices and Government departments

to Goa. The store is known across India as a retail destination where you can shop for unadulterated and handcrafted naturally inspired clothing for men and women in colourful handblock prints in cotton and handloom.

There are more than 1000 unique design in kutras and kurtis to choose from at Cotton Cottage.

Sanjay, a first generation entrepreneur, also handles the franchise for some of India’s topnotch fashion labels including Gini & Jony in Margao and Panjim, Outlook, Fashion X, M.B.O in Margao and Riot in Candolim

Sanjay Parab opens Cotton Cottage in Margao ND Agarwal to release ‘Delegated store Margao based retail entrepreneur Sanjay Laws of Goa’ soon Parab has brought the Cotton Cottage store

Mohan Krishna’s Cheers Group bags India’s Best Start-up award Goa based Cheers Group, manufacturers and exporters of a variety of new age beverages, recently bagged the ‘India’s Best Start-up Company’ award in a lavish ceremony hosted in New Delhi by the popular Spiritz magazine. At the helm of affair of the Cheers Group are its founders, Dr Mohan Krishna and wife Anuradha. A first generation executive turned entrepreneur, Dr Krishna has been listed in the leading International Liquor magazines as one of the most influential personalities in the Indian liquor industry. Cheers Group has its own state-of-the-art modern beverage alcohol manufacturing facility with an ISO 90012008 certified unit in Goa and also bottling tie-ups with a few strategic units across India. Royal Legend Reserve Whisky, one of their products has already won recognition by way of a Silver Medal in the United States of America for “Packaging Excellence”.

Dr Krishna is also the world’s first ‘Liquor Marketing Doctorate’ and recipient of “Alcobev Marketing Guru” and “Marketing Scientist of the Millennium” awards. He has a MBA in Marketing; MBA in Finance; PhD in Business Management and 28 years of rich and profound liquor experience in sales, marketing and business strategy 46 Business Goa

JUNE 2014

quiz

60

1. Which company’s brand name is a combination of is a combination of the French word for ‘dead’ and the German word for ‘one’?

2. Which maverick business thinker’s books include ‘Purple Cow’ and ‘The Smiley Dictionary’?

3. Which brand of electrical goods is a creation of Kerala-based Kochouseph Chittilappilly?

4. Who is the newly appointed Minister of Micro, Small and Medium Enterprises?

5. Which brand of motorcycles would advertise ts mileage feature – “Fill it. Shut it. Forget it.”

6. Identify this media magnate Answers to BG Quiz 59: 1. The Wolf of Wall Street 2.Celerio 3.Faber-Castell 4.Rubik’s Cube 5.Bubblegummers 6.Kalanithi Maran Email your entries to businessgoa.media@gmail.com First all correct entry will get 1 year’s subscription to Business Goa