BUSINESSGOA
50
Goa’s Only Business Magazine
PANAJI GOA VOL 5 ISSUE 5
NOVEMBER 2013
kashinath damodar naik group
In Search of New Frontiers
Datta Damodar Naik and son Chirag carry the legacy of the KD Naik Group established in 1931. Forward looking in business ideas, the Group today, is growing in the food retail and housing business
12
Chirag Naik
Director, KDN Group
Datta Damodar Naik
MD, KDN Group
51 ANJAN CHATTERJEE
Speaks at The Entrepreneur’s Notepad
sHRINIVAS DEMPO
Sworn in as Vice Consul of Italy in Goa 53
News Views Articles Interviews Profiles Focus Analysis Opinions Events Features
Contents
November 2013
28 Goan Brand 30 Work is Worship
12
Cazulo, a Feni brand hopes to take the image of the drink a few pegs higher
Common misconceptions surrounding certain jobs are being dispelled by workers who take up for the dignity of their labour
36 Professional Dossier 38 Lady Power 50 Bon Appétit
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Dr. Suresh Dubhashi on the challenges of being a doctor and how he set up Vintage Hospital
12 Cover Story
Started in 1931, the KDN Group has come a long way and has diversified from Trading to Real Estate, Food Processing and a lot more
Madhavi Verencar’s Baby Basics is a one stop shop in Margao for everything baby related
18 Focus Goa
This festive season, retailers are offering special discounts, prizes and other attractive offers to bring in customers
The Curry Leaf at Hotel Calangute Towers serves up Indian cuisine befitting of Royalty
20 Starting Young
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Munna Rukknudin is making waves in the events business with his unique concepts, mind blowing set designs and event solutions
22 Enterprise 24 Interview
Bestgoadeals.com offers personalized holiday planning and exciting options on your trip to Goa
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Pramit Raiker, President of the Goa Gold Dealers Association discusses the current gold markets
COLUMNS
26 Industry
Returning to his roots from an upbringing in Mumbai, Sandeep Sardesai set up a pioneering rubber industry in Goa
40 Reluctant Entrepreneur Blaise Costabir says that a business should stick to doing what it does best. And not to spread itself too thin
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22
41
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04 Business Goa
NOVEMBER 2013
Jay Dehejia discusses the impact of the US Government shutdown
Kishore Shah analyzes the flaws in our education system and offers his suggestions for a change
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06 Editorial 08 Corpo Scan 32 Event of the Month 34 Campus 34 Book Shelf 34 BG Crossword 44 HR Mantras 45 What’s Up Goa 48 Milestone 51 Goa Buzz 54 Newsmakers 54 BG Quiz
41 Letter from America 42 People Tree 43 Good Company
43
Swatee Rane talks about ‘One Person Company’ under the new Companies’ Act
Cover Pic: Marlon Noronha
BUSINESSGOA
50
Goa’s Only Business Magazine
PANAJI GOA VOL 5 ISSUE 5
NOVEMBER 2013
EDITORIAL
hbhatkuly@gmail.com
KASHINATH DAMODAR NAIK GROUP
In Search of New Frontiers
Datta Damodar Naik and son Chirag carry the legacy of the KD Naik Group established in 1931. Forward looking in business ideas, the Group today, is growing in the food retail and housing business
12
Chirag Naik
Director, KDN Group
Datta Damodar Naik
MD, KDN Group
51 ANJAN CHATTERJEE
Speaks at The Entrepreneur’s Notepad
SHRINIVAS DEMPO
Sworn in as Vice Consul of Italy in Goa 53
The PHD of Business
News Views Articles Interviews Profiles Focus Analysis Opinions Events Features
VOL 5 | ISSUE 5 | NOVEMBER 2013
Editor & Publisher Harshvardhan Bhatkuly Co-Publisher & Group Head Urvija Bhatkuly Advisory Board Datta Damodar Naik Ralph de Sousa Rajiv D’Silva Swapnil Kamat Team Alisha Patel Annalise Gouveia Ashok Kolvekar Govit Morajkar Mark Alphonsus Mayur Santinezkar Monaliza Dias Pritesh Naik Sigmund D’Souza Contributors in this Issue Janice Rodrigues Sonia Fernandes Blaise Costabir Jay Dehejia Kishore Shah Swatee Rane Editorial, Advertising & Administrative Office SAVOIR FAIRE MEDIA Business Goa 101/5, Rua Thomas Ribeiro Fontainhas- Mala Panaji, 403001 Goa India Tel.: 0832-2425514, 6456555 Email: businessgoa.media@gmail.com Business Goa is a monthly magazine dedicated to trade, commerce and business features and news. Publisher & Printer: Harshvardhan Bhatkuly Printed At: Printek Printers, Bengaluru
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
NOVEMBER 2013
What do the letters PHD have to do with entrepreneurs? Everything – if you go by what Anjan Chatterjee (founder of Mainland China restaurant) says. He feels that entrepreneurs should live by these three letters. P for Passion: Very few entrepreneurial dreams have been started without passion. It is the ‘junoon’ to do something different, creating a niche and honing world changing ambitions, which can create businesses and brands out of nowhere. Nine out of ten successful business creators will have ‘passion’ ranking high on their list of business priorities. Passion is not just about being excited about something. Passion is the excitement that drives you out of your cocoon to create something out of nothing. Passion is as much about an idea as it is about execution. Walt Disney, once a struggling cartoonist, turned the entertainment world upside down with a simple mouse called Mickey. He famously said, “If you can dream it, you can do it”. Passion is the daydream that will make you go to work – not to sleep. It is the lifeblood of an entrepreneurial idea. Many entrepreneurs fall short of words when they have to articulate the passion funda, but they know their business dreams in their hearts, they can feel it in their bones. H stands for Hard Work: Thomas Alva Edison said that “Success in 99% perspiration”. The willingness to put in the hours, course correct, sacrifice those Sunday afternoon siestas and reassemble the prototype if it doesn’t meet your mind’s eye. Modify your business plans over and over again; Go that extra mile to service the client. These are some of the clichés that you could associate hard work with. Very often I meet Linda, of Viva Panjim restaurant when I take early morning strolls in the city. As a retired teacher who runs a successful restaurant in Fontainhas, she wakes up at 5 a.m. and is at the fish market to pick the catch of the day. This is hard work. She could’ve easily delegated the task to her deputy www.facebook.com/businessgoa
and enjoyed two more hours of sleep. But finding the best seafood is a non-negotiable aspect of her restaurant. She chooses to do it herself. There are scores of businesspersons who go that extra mile to meet their idea of a business. Indeed, hard work never killed anyone (Read more about it on page 44), as the old jungle saying goes. D for Discipline: I am a first generation entrepreneur and one of the greatest challenges that I have faced is on the discipline front. Discipline is an enemy that you have to face every day; and get the better of it. Discipline is what keeps you rooted to your business idea. It makes you define the boundaries and helps you do the knitting (read Blaise Costabir’s column on page 40). Discipline lies in creating those systems for your work plan, keeping the tools back in the tool box, scrubbing the kitchen floor and making it shine, making the call that you promised, writing that cheque, entering those account details in your books and even making the rounds around the factory. For example, Tele-calling 50 prospective clients who you have on your to-do list; no sir, 48 won’t do. Discipline brings in consistency. Discipline sets a precedent. There is no better example that you can set for your customers, employees, clients and associates. Why? Even friends and family will respect you more for your discipline. The PHD of entrepreneurship is more than just letters and concepts. It is a way of life that an entrepreneur has to embrace. To make a business bring forth success out of the dream that you scribbled on a tissue paper while sipping coffee. The Entrepreneur’s Notepad, organized by Goa Chamber was perhaps the best Diwali gift that I could have asked for. It was indeed a pennydropping moment for me when Anjan Chatterjee spoke about Passion, Hard work and Discipline. It’s as if the whole jigsaw fell in place with one fell swoop of an important clue. You often need to hear it from someone who has been there and done that to know how to run a business. Happy Diwali www.twitter.com/businessgoa
Victor Hospitals to launch Ayurveda facility in Goa
corpo scan
Victor Hospitals & Medical Services Ltd, recently launch its latest venture “Goa Ayurvedic Hospital” at Margao. “This is an excellent facility where patients can get the best of both Allopathic and Ayurveda under one roof,” said Victor Albuquerque, Chairman, Alcon Victor Group. The Goa Ayurvedic Hospital is a 25-bed facility. He said that the hospital, built at an investment of around Rs 5 crore, will specialise in providing treatment and arresting chronic cases for all modern diseases
World Bank has agreed to provide loan to Konkan Railway Corporation: Tayal Managing Director of Konkan Railway Corporation Ltd (KRC) B P Tayal said that the World Bank has agreed to provide a loan to the Konkan Railway for its proposed project worth Rs 15,000 crore of doubling of the rail line along the West Coast of India. Tayal said that the KRC has also put forth a proposal to JICA for obtaining loan for such a huge project. He also firmly stated that
the sky bus project would be totally scraped. “Konkan Railway has the land for carrying out doubling of the line in Goa. We may have to depend on the land acquisition at few places where additional tunnels need to be constructed. We have a hope on the Goa Government that it would give us land for our project,” he said while addressing the media.
The increase in demand for rail traffic has compelled the KRC to consider the doubling of the track; 55 passenger trains and 40 to 45 goods trains run daily on the KRC track. He said that the KRC has conducted the survey and it is has been found feasible to commence double track rail traffic. Tayal said that the entire KRC line would be taken up for
electrification on built-own-andtransfer basis, adding the KRC has the scope of generating yearly revenue of Rs 100 crore, which would be sent to the parties. He also said that all the KRC stations in Goa will be upgraded with an additional infrastructure and facilities for the commuters, including the commercial spaces, will be created
Goa Tourism bags Safari India Award The Goa Mineral Policy 2013 approved
Goa Tourism has bagged the Safari India National Tourism Award for “Best State for Beach & Culture Tourism” for the year 2013. This award was received by the Deputy Resident Commissioner of Goa in Delhi,
Vatsala Vijayan. Dilip Parulekar, Minister of Tourism, Government of Goa said, “It is a matter of great pride that the state of Goa is being recognized for beaches and culture; and to receive this from the editorial board of an established publication only makes our resolve stronger to make Goa the preferred destination among all tourists, all throughout the year.” Goa Tourism is working towards making the beaches cleaner, safer, beautiful and more secure. This is a part of a bigger plan to boost tourism throughout the year in the state
The Goa Mineral Policy has been approved by the Government of Goa recently. It specifically deals with iron ore, its mining, handling and use either by exports or converting to value added products. The policy outlines its intention to remove illegalities and irregularities in mining, chaotic and unregulated mining and export of unaccounted ore from unidentified source like dumps and tailings. The main features of the policy included scientific and sustainable exploitation of mineral resources and accurate estimation of reserves, reviewing and regulating the existing practice of random exploitation,
Geological mapping of mineral resources and create a database. The handling of the mining dumps has been elaborated in the policy. It details the process of identification of the dumps, its clearance by way of exporting those. The estimated quantity of 700 million tons of dumps are lying in the area - leased out for mining, outside the leased area on owned land / other private land / Government owned revenue land / Communidade land / forest land. A committee headed by the Minister of Mines will be constituted to monitor and periodically review implementation of the Policy
First Russian Charter Flight lands in Goa ISHRAE Goa Chapter hosts TechFest-Goa 2013 Goa’s first Russian Charter Flight ‘Anex Tour’, a new Charter Flight by Thomas Cook, arrived at Dabolim airport on October 13, 2013. The passengers were greeted by Victor Albuquerque, Honorary Consul of the Russian Federation in Goa, M Suresh, Director, Dabolim Airport and Pamela Mascarenhas, Deputy Director - Department of Tourism, Government of Goa. Albuquerque welcomed the first Russian Charter Flight to Goa and said that he expected 600700 more Russian flights to Goa this season. Most of the Russian tourists that arrived were families and couples. He also stated that Goa has seen a tremendous improvement in the quality of tourists holidaying here. Suresh added, “The Charter 08 Business Goa
NOVEMBER 2013
Flight consists of 235 passengers from Russia. We are expecting 1,400 flights this tourist season of 2013-14. To cater to the growing numbers of arrivals, we have increased the number of Customs Officers so that immigration facility is made easier.” Rohit Walter, Head of Charter Operations at both, Travel Corporation (India) Ltd (TCI) and Thomas Cook (India) Ltd is upbeat. “Goa is blessed. The Charter business is moving and the season looks healthy as many new Russian Charters are to land this time. Till September end we have around 3,500 bookings and are expecting over 30 thousand tourists from four countries – Russia, UK, Scandinavia and Germany. We expect 15-18 per cent growth this season,” Walter revealed optimistically
The 8th edition of TechFestGoa was recently held in Goa. The seminar was attended by professionals from the Pharmaceutical and Hospitality sector in Goa, besides several specialists and technical experts from the HVAC&R industry from across the country and abroad. Goa is one of the richest states, with the highest GDP capita – more than two and half times that of the country as a whole, and one of the highest growth rates. Goa’s hospitality sector accounts for 13 percent of all foreign tourists who visit India. With over 3000 hotels, over 100 of which are 4 stars and above in rating, the Hospitality sector is largely responsible for Goa’s continued and steady growth. Over the last decade and a
half, Goa has been emerging as pharmaceutical hub for some of the biggest names in Indian and global Pharma. Over 300 manufacturing units make their home in the state and Goa’s contribution to the national industry is pegged at INR 5000 crores. TechFest-Goa 2013 which was jointly organized by the ISHRAE Goa Chapter and ASHRAE Mumbai Chapter is an annual event for professionals in the Heating, Ventilation, Airconditioning and Refrigeration and user industries (HVAC&R). ISHRAE’s mission is to enable professionals associated with the sector to stay abreast with the latest global trends in the industry and grow technical knowledge and skills through this educational program featuring top speakers from the sector
Government is firm on going ahead with the Mopa Airport: CM
corpo scan
Chief Minister Manohar Parrikar said “some sections of the society were opposing the proposed airport without understanding its importance.” Further stating his “Government would spend Rs.500- 700 crore for different infrastructure works in Pernem Taluka.” The new bus stand will have 10 alighting and departing bays, six waiting bays and two bays for repairs. The estimated cost of the project is Rs 21.34 crore
Bank loan rate cuts brightens festive season, but find few takers Banks in Goa offered lower rates on retail loans for the festive season on instructions from their head offices. However, these rate cuts did not fully stimulate demand given that consumer interest in buying was low. Discounts on interest rates as well as lower processing fee were on offer for loans on automobiles and consumer durables, but bankers had their fingers crossed and hoped for these measures to succeed. Speaking to the media, Deputy General Manager,
Syndicate Bank, Goa said that interest rates may increase or decrease, but recent experiences shows that loan demand is not price sensitive in Goa. According to him, due to mining closure, the income generating capacity of majority of the residents is adversely affected. Therefore, despite the reduction, the possibility is that lending may not pick up. Bankers said that this month was one of the slowest months for retail loans and in fact lending witnessed a year-on-year drop.
They added “that disinterest in availing bank finance cannot be attributed to higher interest rates, prevailing at that time, as there were other factors at play. The reason for the lacklustre response to attractive lending is primarily due to loss of earnings amongst a vast segment of the populace”. Recently, the largest lender among PSU banks, State Bank of India (SBI) decreased its lending rate from 10.75 per cent to 10.55 per cent on car loans and announced lower rate of 12.05 per cent on consumer durable
Travelling by Kadamba buses soon to be paper-free
Worried about long queues or hassles with finding change to buy a ticket on a Kadamba Transport Corporation Limited (KTCL) bus? Not any more. Pre-paid radio-frequency identification (RFID) cards will soon do the trick for KTC commuters. By the end of this year or early 2014, KTCL will set up three ticket vending machine (TVM) booths at the Panaji bus stand to begin with. “With an RFID card, all a commuter needs to do is scan it at the TVM booth and it will
then promptly deduct the fare applicable for the route,” a KTCL official said. Unlike your ATM card, the card will be scanned and not swiped, but it can be recharged with a top-up whenever needed. A passenger will have to recharge the RFID card by buying a top-up voucher from the bus stand. KTCL will issue the cards to its commuters with a minimal fee of Rs.40 after registering for the card online. KTCL plans to set up TVM booths at the bus stands across the state but will start with Panaji. The booths will be similar to cold drink vending machines,” KTCL Managing Director Derrick
Pereira informed. In this case, the commuter is issued a ticket with a scan of the RFID card. Pereira said, “The passenger’s details, the route, etc will be shown on the TVM and the route fare will be charged”. The RFID card will also replace the paper pass. A pass-holder will be able to renew his pass with a recharge from a voucher. The validity of a particular pass can be verified through the TVM and the route can also be modified. The GPRS-enabled, TVM booths will retrieve details about your route, balance amount, validity, etc and will work within a few feet of the card and store the details in a database. The RFID system serves the same purpose as a bar code or magnetic strip on the back of a credit or debit card, giving a unique identity
Verna Industrial Association to launch ‘Kaun Banega Udhyogpati’ Budding entrepreneurs will now get a chance to prove their skills and battle it out among themselves. Verna Industrial Association (VIA) President Prashant Shinde is hoping to launch his maiden entrepreneur quiz this month. The quiz called ‘Kaun Banega Udhyogpati’ is aimed at students who harbour aspirations of starting their own business. The quiz is open for any stream viz IT, farming, MBA, medical, among others. Shinde said the winning 10 Business Goa
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prize will be Rs 1 lakh plus a one year’s free of cost support from Fr Agnel’s incubation centre in Verna to start the business. The Committee will select a batch of 50 would-be entrepreneurs for mentoring. They will have to display a presentation of their business plan, project cost and finances needed. The Committee will select the 10 best enterprising ideas. They will receive advanced mentoring by a corporate head. In December, a mega event will take place where
the 10 best ideas will be judged by a panel of successful corporate enterprises of Goa. “I want to make the event interesting and business informative. The project is set to kick-start in November. This is a great CSR project by VIA and it has always been my dream project to encourage every student towards entrepreneurship. Every student should participate and put their ideas to the test in becoming a ‘udhyogpati’,” says Prashant Shinde
loans for salaried account holders. SBI’s new chairperson Arundhati Bhattacharya said that, “It is something for our customers prior to the festival season.” With SBI’s reduction other banks are expected to follow suit. However, car dealers in Goa said that rate cuts are marginal and will not impact buying decision of the people. A dealer in Panaji said that residents do not postpone or hasten buying because of changes in interest rates, unless the rate difference is significant
Pentair expands its water filtration facility
Pentair Filtration and Process announced the expansion of its existing manufacturing facility in Verna in Goa, increasing its capacity for Polyglass and commercial composite tanks as well as the manufacturing of other products used for water filtration and treatment. The facility was inaugurated by Netha Johnson, Pentair President of Filtration and Process, Mukund Vasudevan, Pentair’s Country Head India and Hari Prasad, Pentair Vice President Filtration and Process. The new facility adds 30 percent more production space enabling it to add new product lines as well as expand capacity for existing product lines. The new state of the art office building will have customer experience center, including a product display gallery and training center. The facility will have industry leading quality and product certificates including ISO 9001, NSF 44 & 61, DWI, WQA, ASMEX and PED. This Goa factory manufactures a diverse set of products, including the Codeline housing used for desalination plants globally
COVER STORY
In Search of New Frontiers Started in 1931, the KDN Group has come a long way and has diversified from Trading to Real Estate, Food Processing and Horticulture, writes ALISHA PATEL
I
n 1931, back when Goa was still a Portuguese colony, Kashinath Damodar Naik a Margao-based trader set shop and established a business venture of trading that has enjoyed unhindered goodwill for over eighty years, He set out with a vision and today, that entrepreneurial dream of his is still alive, thriving and seeking new frontiers on Goa’s business 12 Business Goa
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landscape. The KDN Group ranks high on business ambition and for the respect that it enjoys in the market place; and is today pushing 70 crores in annual turnover. The business basket of the group reads like this: The KD Naik firm is still rooted to its trading traditions but works more as a CNF model by handling prestigious business of Britannia
Industries Ltd, Ferrero Rocher chocolates and V-Guard for the State of Goa. The Group’s other ventures have been developed by the current Managing Director and grandson of K D Naik, Datta Damodar Naik. Datta Naik is a rare businessperson. A graduate in economics and statistics, he joined the family business in 1975. But one look at his profile and
you realise that there is more to this businessman than business. He has authored books – some of which have earned him laurels by way of national awards. He is a known public speaker and social activist. He is also a keen student of management practices and has a diploma in Business Management from IIM, Ahmedabad, no less. Today, he heads the century-year-old
Pics : Marlon Noronha
kashinath damodar naik group
www.twitter.com/businessgoa
Gomant Vidya Niketan (Margao) – the cultural heartbeat of Goa. And yet, the story of seeking new business frontiers has to start with him. Realty on his mind: In the early 1990s, there suddenly came a real estate boom in Goa. Behind Datta Naik’s serene and calm exterior, there is an entrepreneur working hard. Looking at business opportunities. He saw potential in the real estate business and started out with Commonwealth Developers. He brought in his management expertise to the business and laid great emphasis on branding and packaging every project that he unveiled, often launching them with wellcrafted advertising campaigns. While he looked at the business with a concentrated vision – building projects only in and around Margao, employing best business practises and modes of payments, branding, establishing a great rapport with customers, bringing in housing finance companies to help with home loans for the buyers. A vision, that has augured well for the Group as it looks at new business frontiers today. “We are proud that we have a pool of over 1000 satisfied clients and every new client comes to us through reference of old clients or based on word of mouth publicity. We look at housing as a social need and we are very sensitive to the aspirations of our clients. We know that it is a dream of every person to buy her own dwelling unit and we give our clients all the backup including assistance to obtain home loans,” says Datta D Naik Commonwealth Developers Pvt. Ltd. after having completed more than 25 projects in and around Margao, restructured itself a few years back to bring in a new style of real estate development. With CD Monsoon Meadows at Majorda, the
CD Seasons at Fatorda
company shaped 37 high-end, low rise villas, each with luxury finish and specifications. The entire habitat stands testimony to the modern outlook that the company has been striving for. With CD Jade Blue at Fatorda, Commonwealth opened out a contemporary architectural style to city living. Their two ongoing projects – CD Seasons at Fatorda and CD Signature near Margao’s Bolshé Circle, promise to further reinforce the brand’s commitment to upscale residential projects. While CD Seasons is more of a boutique offering, CD Signature is more elaborate – in planning and size and also has commercial spaces on offer. “There is lot of pre-project home work done before any CD project is conceived. Minute attention
With CD Monsoon Meadows at Majorda, the company shaped 37 high-end, low rise villas, each with luxury finish and specifications CD Monsoon Meadows at Majorda is given to details of every aspect of construction, be it engineering or design. The aesthetic elevation of villas and buildings, world class ambience, beautiful landscaping and quality specifications are salient features of CD projects. At Commonwealth Developers, we are very selective and choosy while acquiring properties to develop our project and we ensure that the location of the property is in scenic surroundings and is at a convenient locale,” adds Datta D. Naik. There are 2 more projects on the drawing board, but the Commonwealth brand of business will take charge of them only after the successful completion of the ones
that are taking shape now. There is an old-world thought in their business, after all. Thirst gives way to hunger While India deregulated its private sector in 1991 and opened it for MNCs to enter the fray, the KDN Group was the bottling franchisee of the Duke’s brand of cold drinks. Before the Pepsis and Coca Colas made their bid for our parched throats, one relished in the refreshing taste of Duke’s Mangola or Duke’s Lemonade. Even today, many still consider these cold drinks far superior to their counterparts available in the markets. But the coming in of global players was way too competitive for Devika Beverages (the bottling company of KDN Group) to stand its ground. Rather than fight a losing battle with the big daddies of soft drinks, Datta Naik began to scout for new business options – this time in the food sector. “We realised that there could be a great demand for food. Goans are culturally exposed to bakeries for centuries, yet there was no brand of bakeries that was present across the state. A bakery that would provide fresh, consistent, high-quality NOVEMBER 2013
Business Goa 13
COVER STORY Pics : Brendon Sapeco
With an annual turnover of approximately seventy crores, and a journey that has metamorphosed from distribution of leading FMCG brands to major operations in real estate, food production and logistics; the Group is now looking to enter the hospitality business
Within quick time, the company went about franchising Monginis Cake Shops across Goa
Monginis Cake Shop, Panaji
The manufacturing facility at Verna
and sophisticated fare with latest trends. We got the manufacturing franchise for Goa region from the Mumbai-based Khorakiwala family that owns the Monginis brand in India. We set up a state of the art manufacturing unit capable of meeting high standards of food quality at Verna,” says Datta Naik. New Millennium Bakers was in business in 2000. Making cakes, pastries, gateaux, savouries and living the Monginis mantra as a ‘celebration brand’. Within quick time, the company went about franchising Monginis Cake Shops across Goa. Again the management instincts of Datta Naik took over and there was a period of steady consolidation of the franchisees. Ashish Kejriwal, Marketing Head of
Following strict brand guidelines
New Millennium Bakers who has been with the Group since the ‘Dukes days’ says, “It is no cakewalk to co-ordinate and meet the demands of nearly 50 cake shops across the length and breadth of Goa. Our cakes and savouries have to reach the cake shops fresh. We have special insulated vans that maintain the freshness of the goodies. We are also HACCP (Hazard Analysis and Critical Control Point) certified plant. This ensures the quality of our products and services.” Adequate infrastructure is also maintained at the cake shop level like hot counters, cool counters, microwave ovens and refrigeration units to maintain the freshness of the products. The company has also specialised in making ‘Special Shape Cakes’ for birthdays, anniversaries and other occasions. Besides, Monginis localises its offereings during Christmas with Goan sweets like bebinca and dodol. Left: The K D Naik firm is the CnF agency for Britannia, Ferrero Rocher and V-Guard
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New Wave: “Right from my childhood, my father has groomed me to take over our family business,” says Chirag Naik, Datta’s son and he is the one driving the company in search of new frontiers. But then how many civil engineers enrol to do a course in baking? It is evident that when Chirag attained a Bachelors of Engineering (Civil) from Goa Engineering College, he was training to bring technical expertise to the Commonwealth stable. But he also went ahead to complete a course in baking science and technology from AIB (American Institute of Baking) Kansas, USA, notwithstanding a Post Graduate Degree in Business Management from the prestigious Narsee Monjee Institute of Management Studies, Mumbai; where he specialised in managing ‘family business.’ After completing his academic duties, Chirag was brought on board to “rationalize Monginis Products and upgrade the quality of each and every product”, he says. He did a lot of
experimentation with the sizes, designs, presentation, packaging and price of the product. “This background has given me immense confidence to face any challenge in my business,” he adds. The lure of the lounge The youthful restlessness of Chirag and the sage, calculated experience of Datta Naik were bullish on the food business and wanted to do something more. To have a lounge-like food boutique. Where one could savour good food in a nice ambience. With a wide set menu that would also bring in tasty bites and mini meals. Where the coolness of a coffee shop would go beyond its menu offerings. Cut to 2008. Canapé. Chirag says, “my father always tells me to think of competing with your existing business and you will do wonders.” This shouldn’t give you the impression that Chirag follows blindly what the senior Naik hands out. The young man is full of ideas and more importantly, knows how to manage multiple operations, a commendable trait given his age. Canapé was launched at Fatorda and slowly opened a branch in Margao city and then two more – one in Aquem and the other near Chowgule College. The tried and tested KDN Formula – spot a business opportunity, prospect it well, grow it around your comfort zones and then scale its size is evident in the Canapé growth story. Canapé was launched earlier this year in Panjim at what is rockstar Remo Fernandes’ family home in Miramar. The concept is a total success and has clicked well with the residents of Panaji. It is as if Chirag’s business plan has opened up exactly the way it was supposed to – and the customers have welcomed it wholeheartedly. Today, Canapé has two master kitchens – one in Fatorda and the other in Miramar. The Fatorda outlet caters to the three outlets spread across Margao. As a business model, Canapé is an expensive proposition because of the investments involved in bakery and kitchen equipment. Canapé
Pic: Pantaleao Fernandes
COVER STORY
Keeping with the ideals of their founders who believed in local flavours, New Millennium Bakers have added Goan flavours to their product range. They even formed their own RnD cell to create their own recipes and experiment with flavours and design
Canapé was launched at Fatorda and slowly opened a branch in Margao city and then two more – one in Aquem and the other near Chowgule College. This year, the brand launched itself in Panaji and plans to add more outlets in the capital
Canapé at Miramar
inspired by his travels. Being a civil engineer too, has helped him in creating trendy interiors and landscaped surroundings. As part of their growth initiative, New Millennium Bakers also have been ploughing back substantial parts of their profit in upgrading the factory and logistics. They manufacture over 150 products which involve over 300 raw materials and packing items. Handling the orders and executing them in time, giving two deliveries to the cake shops is a very meticulous task and involves a big challenge to the Management. However an experienced Monginis team
under Chirag’s leadership, has successfully taken this challenge and they are confident that Monginis will reach new heights in years to come.
the thinkerbusinessman
entrepreneur. These seemingly varied attributes has also made him a much decorated and read writer in the regional languages – Konkani and Marathi, while he continues to pen his thoughts in English. He is the Past President of CREDAI-Goa and Samaj Seva Sangh and currently serves as the President of the Gomant Vidya Niketan. To his name, he also has numerous publications in both, Konkani and Marathi. Some of his Konkani publications include ‘Kali Ghat Te Karuna Ghat’ (Travelogue), ‘Arabian Days’ (Travelogue), ‘Jai Kai Jui?’ (Short Essays) which was awarded the National Sahitya Akademi Award in 2006. He also authored ‘Phantod Pavali’ (Short Essays) and ‘Jodavim – Yadincho Album’ (Memoirs). His Marathi works include ‘Canacon Ek Sarvangin
A graduate in Economics and Statistics, and with numerous management courses including a condensed course from IIM, Ahmedabad, Datta Naik joined the family business in 1975, Datta Naik bringing to the table three and a half decades of all-round experience Datta Naik is passionate as a conscientious, about Sangod – an organic yet focussed
farm spread over 23 acres of land in Mollem, where he grows coconut, arecanut, cashew, mango and banana plantations. Besides, an intercrop of pepper and local vegetables are cultivated at the farm 16 Business Goa
NOVEMBER 2013
Pic: Edrich George
is a combination of a bakery, restaurant and café; a unique concept developed by Chirag which has no parallel not only in Goa but the rest of the country, as well. Talking about the future of Canapé, Chirag reveals that he is very selective and plans to stick to the urban areas for his expansion plans. “I am hoping to start two more outlets in Panjim this year, one opposite Azad Maidan and the other in Patto. I do have other innovative concepts in mind which will be launched across Goa. Plans for a food court are also on the cards,” he says. He is open to franchising smaller outlets as well, though he reveals that his main outlet in Fatorda will not be franchised. “I am aiming at an eight crore turnover by 2016. More importantly, though, I am aiming for acceptance and appreciation for Canapé by the people,” says Chirag. The Canapé range of products includes puffs, wraps, rolls, burgers, pizzas, sandwiches, mini meals, pastries, gateaux, brownies, sponge cakes, desserts, ice creams, shakes, tea, coffee and a variety of other beverages. Being a connoisseur of food, Chirag often develops new recipes himself. He also adopts dishes
New Frontiers The Group is all set to move into its new corporate headquarters CD Fountainhead at Fatorda. “The new office will be the nucleus of all our growth plans and business expansions,” says Chirag. Besides for New Millennium Bakers, plans are afoot to take the Monginis brand to the Konkan region of Maharashtra as well as Kolhapur and
Belgaum, besides the North Canara areas of Karnataka. This is a giant stride for a Goan company, not just because it is stamping its business on new geographical and cultural arenas, but also because of the setting up of a new food production unit and the logistical strategy that it will have to unravel to meet the demands of a market that is completely different from Goa. But then, for the torchbearers of Kashinath Damodar Naik’s legacy, they will bring in the right amount of management skills and dynamism to make a success out of another business plan
Abhyas’ (Socio economic survey of Canacona), ‘Hote Kurup Vede’ (Socio economic survey of Sattari) and ‘Atmadipo Bhav’ a Book on Management and Personality Development which has been well received by readers in Maharashtra and Goa and within a span of three years has had three editions published. Datta Naik is passionate about Sangod – an organic farm spread over 23 acres of land in Mollem. Professionally developed under the expert guidance of Dr. H Y Karapurkar, former Director of Agriculture, where he grows coconut, arecanut, cashew, mango and banana plantations. Besides, an intercrop of pepper and local vegetables are cultivated at Sangod. There is a Green House, where horticultural plants and decorative plants are grown
FOCUS GOA
Ulhas Jewellers’ whose sales also reach their peak during season, had an added advantage of exhibiting their jewellery at the store. “The exhibition showcased some of the latest designs. We have
FESTIVE SALES
Shopper’s Gala
F
estivities bring a smile to the face of every person; be it a business person or the consumer, everyone looks forward to the season of cheer and joy. With Ganesh Chaturthi, the season has begun lighting up a rather dull and gloomy year, with retailers looking forward to an eventful season ahead. Festivals in India are always celebrated with pomp and grandeur. While the rest of the country is gearing up for a dazzling Diwali, why should Goa lag behind? From electronics to luxury items, everything seems to have a heightened sale. People often wait for the festive season to make purchases, though they may need an electronic device at any point in the year. The consumer tends to look at the ‘shubh’ or auspicious time to invest or even gift their loved ones something that matters. “For obvious reasons the festive season sees a heightened sale of items compared to the rest of the year. Typically the bulk of the sale begins with the festival of Ganesh Chaturthi through Diwali and Christmas, and goes up to the month of March,” says Hari 18 Business Goa
NOVEMBER 2013
Shopping bags normally overflow during the festive season. JANICE RODRIGUES takes a peek at the retail sales during this time.
Kaul, General Manager of the CMM Megastore. It is indeed an auspicious time as profits pour down on some of the enterprises. “During festive seasons like Diwali our sales triple, we normally make a profit of about 60lakhs but during the festive season, we hope to double that figure,” says Felipe Alvares of Prime Electronics. Even luxury goods like high end luxury watches and pens find their way onto shopping lists during the season. Stores dealing in such luxury items like Javeri’s in the capital, have customers lining up to pick their favourite pieces thus increasing sales. “There is a 15-20% increase in sales through the season as
The festive season experiences a heightened sale of items as compared to the rest of the year. The bulk of the sale begins with Ganesh Chaturthi through Diwali and Christmas, and goes up to the month of March Hari Kaul
General Manager, CMM Megastore
We have offers for every season: combination offers as well as offers where you can save 40% and there is a 50% off on Diwali items. This season, we also have a mega offer of a free trip on a cruise liner for any one shopper who shops above Rs.1000 Kirit Maganlal Magson’s Superstore
compared to the rest of the year,” asserts Premal Javeri. With heightened exposure to changing trends in fashion and accessorising, the Goan consumer is not lagging behind in keeping up with newer designs and styles. For an average Indian, what is a festival if you don’t have that new outfit to show off or a new ring to flaunt? Stores like Bharne Creations and Ulhas Jewellers also have increasing sales during this time of the year, “Compared to the rest of the year, our sales double during the Ganesh and Diwali festivals, but during Christmas time the collection normally triples!” remarks Sanjay Bharne of the Bharne Creations. On the
other hand, Ulhas Jewellers’ whose sales also reach their peak during season, had an added advantage of exhibiting their jewellery at the store. “The exhibition showcased some of the latest designs. We have for the Diwali season introduced a list of new collections including kundan, temple jewellery and Goan traditional jewellery. We’ve had an excellent response,” says Vikram Verlerkar of Ulhas Jewellers. There is no festival without a huge spread of food and sweets, and this often works to the benefit of the grocery retailers, supermarkets and sweet marts. With Magsons superstores across the state witnessing an increase of 20% in the sales. This is evidence enough that festivals are not only about the glamour and glitz, but also good food and a sweet tooth. Indian indulgence in sweets is a known fact, and the festive season gives every Indian the perfect excuse to treat their sweet tooth. “Being a sweet mart, there is a wide difference in our sales during the festive seasons from the rest of the year, “says Naroo Purohit of Purohit Niranjan Sweets. The sale of the sweets often reaches an all-time high during Diwali, as people not only order sweets for their family and friends, but there have been corporate orders of 500 to 600 boxes for staff, clients and well-wishers. “We also have a wide variety of special sweets for festive occasions such as Kaju barfi, sweets made out of pure ghee etc,” adds Naroo. Discounts, sales and gifts are some of the techniques used by the retail markets to entice the ‘already aware’ consumer. In fact the consumer often looks forward to the ‘season’s sales’ and keeps track of the best offers, thus forcing the retailers to come up with innovative ideas and offers that ensure the sale of their products. “Apart from offers such as cash back offers
for the Diwali season introduced a list of new collections including kundan, temple jewellery and Goan traditional jewellery. We’ve had an excellent response,” says Vikram Verlerkar of Ulhas Jewellers
As compared to the rest of the year, our sales double during the Ganesh and Diwali festivals but during Christmas time, we look to triple the sales! Sanjay Bharne Bharne Creations
and free gifts, we do have our own festival offers such as free DTH connections for televisions and dry end free for washing machines, these offers have been greatly beneficial,” says Felipe. “We have discount sales from the company and from the store as well on the various items including jewellery, watches, pens etc,” adds Premal Javeri. Ulhas Jewellers is not far behind offering a good 25% off on the production charges of jewellery and a flat 10% off on diamond jewellery, thus ensuring that the Goan population has a glittering
Diwali. Magsons Superstore is going one step further and offering a mega prize apart from regular combination offers, and discounts. “We have offers for every season: combination offers, offers where you can save 40% and a 50% off on Diwali items. This season, we also have a mega offer of a free trip on a cruise liner for any shopper who shops above Rs.1000,” says Kirit Maganlal. While many go all out to entice customers, some sections of the retail market do not feel the need to have any marketing strategies to increase sales. “We do not offer any special discounts and our sales grow a minimum of 60% with no marketing effort,” says a very pleased Naroo Purohit. Like any other year, sales this year have grown during the season, there is a certain gloom around the retail markets, as the initial phase hasn’t been
very encouraging. The mining ban and the rains seem to have had adverse effects in certain areas. From marginal reductions in sales for Javeri’s, to the quite obvious reduction in sales of electronics in the CMM Megastores; this year everyone seems to be in control of what goes out of their pockets. “This year, the mining ban and the rains have dampened shopper’s spirits, indirectly if not directly. It’s not an encouraging time,” says Sanjay Bharne. “It’s not only the Goan economy, but the global economy is at a low and hence there hasn’t been a lot of sales this year. As far as Goa is concerned, yes there has been a down side, the ban has affected all businesses, it’s a vicious cycle,” says Vikram Verlekar. Kirit Maganlal too shares the same opinion. “The mining ban has affected
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sales to a small extent, mainly surrounding the mining belts but the repercussions are felt throughout the state. People are not spending as much, but there is nothing to be worried about,” he says with a hopeful smile. Though there may be a little gloom around the state owing to the mining ban or the erratic weather, the retail sphere continues to thrive in the festive season. The increasing number of discount sales popping around town stand testimony to the fact that the consumer continues to indulge while the festivities are on
We look at the festive season with bated breath as this is the one time that we can make up for any slack in the year’s sales Felipe Alvares Prime Electronics
NOVEMBER 2013
Business Goa 19
STARTING YOUNG Munna Ruknuddin
For Munna, the definition of success is ever-changing. He loves to challenge himself to achieve greater heights and hates to be complacent. The youngster wishes to set bigger and better goals. This motivates him
Bullseye Entertainment
Right on Bulls eye!
MONALIZA DIAS writes about Munna Ruknuddin and his quick growth in the event industry
H
ard work has long-term benefits; very few of us realize this secret ingredient to success. But those who do, reap its benefits. Coming from a humble background, Munna Ruknuddin always knew that he would achieve great things. He worked tirelessly, regardless of the type of job or profit that was to be made, only because he always believed that he would hit gold one day. He says, “I have always enjoyed working and I took up a variety of jobs. I helped run a small family business and thereafter had a few other jobs ranging from sales to hiring people for castings. It was when I started working in the events industry that I realized that this was right for me. I have now been working in events since 2003” After realizing his true calling, Munna would not settle for working under someone else. He says, “Right from an early age I knew that I would someday become an entrepreneur.” Prior to the establishment of Bullseye Entertainment, he worked at Funky Heads, the event management company. He adds, “After working in the events line, it was just a matter of time before I started my own company. Somehow I would never be content working under another person’s command.” To establish a company, you do require finances to make it function. However, this notion did not hinder Munna from seeking what he truly wanted. He says, “It’s hard to believe my company was started with zero capital. It would have taken a toll on me but it was only due to the support of my fiancée; Sharlene Pinto, as well as other friends in the industry that I was able to get work right from the beginning. So it was just a question of making the business grow. They all had and will always have tremendous faith in me and that has kept me going.” Having friends in the 20 Business Goa
NOVEMBER 2013
Munna Ruknuddin
Munna likes to look at business difficulties as learning opportunities, not as problems industry does count in making your business function well. This holds true for Munna who says, “My first client was also my good friend Esha Joshi, the proprietor of Mantra Events. She had a corporate event in Goa for Mahindra & Mahindra. This was also my company’s first event. Although I had already handled numerous such events, knowing that this time my own company was handling it, gave me a great sense of accomplishment and joy. It was an experience that I will never forget.” From his first event three years ago, Bullseye Entertainment has grown leaps and bounds only because of the man behind the scenes who made sure that everything was running perfectly. The proud proprietor of Bullseye Entertainment Munna
Ruknuddin has many renowned events under his belt in a span of just three years. He says, “Some of the major events that I have handled include Goafest, Idea Rocks Concert, Bacardi Blast, etc. My company mainly handles corporate events and large scale weddings. Although we do many major events, they are not known to the general public as they are private functions. He is a true businessman who constantly tries to come up with innovative ideas to improve the image of Bullseye Entertaintment and make it a renowned brand in the industry. Hence he conceptualized Oktoberfest Goa three years back. It is the one event which is very dear to him. Oktoberfest Goa is a 3 day music festival held in Goa. It attracts people from all over the country to witness this event in all its glory. Munna is a humble man who respects everybody he deals with irrespective of their job status. Everyone gets the same amount of respect. And it is goes without saying how special his clients are to him; especially
since they are the very reason for his thriving business. He says, “I have been in this industry since 2003, therefore my clients already knew my capabilities. It was never a question of attaining trust, rather a matter of maintaining that same level of trust. I work on it every day by going the extra mile for my clients. They are all special to me and I need to show it. All the due credit for whatever I have managed to do till today should go to the trust placed in me by my clients. It is only because of them that I am here today.” “In business there will always be hurdles at some point in time. However I choose not to view them as difficulties but I make sure to remind myself that it is just a stepping stone to help me widen my outlook. I like to look upon my difficulties as learning opportunities rather than woes. When you start a business, there are a variety of learning opportunities that you come across; right from finance to handling customers. All these factors help you grow as a businessman and makes you more able to tackle any obstacle, he says.” A true entrepreneur, he does not see himself as successful but keeps certain goals to achieve. He says, “The definition of success is everchanging. I love to challenge myself to achieve greater heights. I do not want to be complacent and consider myself a success. Instead, I wish to achieve my goals and thereafter, set bigger and better goals. This keeps me motivated.” In the future, he plans on expanding Bullseye Entertainment, further and also dreams of making Oktoberfest one of Goa’s biggest yearly events. The saying ‘nothing is impossible’ is fitting in the case of Munna Ruknuddin. He dreamt of something seemingly farfetched, but ended up living his dream. He says, “If you have a dream, you can make it a reality. Love what you do and do what you love”
ENTERPRISE Gajanan Kerkar
www.BestGoaDeals.com is one of the online brands of Best Tourism Deals (I) Pvt Ltd, and is recognized by the Government of Goa, affiliated to GTDC and is also a member of GCCI. The company tries to portray Goa as it truly is – ever welcoming
WWW.BESTGOADEALS.COM
Making Holidays Happen Gajanan Kerkar in conversation with Monaliza Dias about the ever growing trend in online tourism
Gajanan Kerkar
W
hat attracts tourists to Goa? The obvious response would be the sun, sea and sand! No doubt, it has been the main attraction for holiday seekers in Goa. However, at BestGoaDeals.com you will find more than what meets the eye. While the rest of Goa still believes it is the best holiday destination, the fact remains that there are many more reasons why a tourist should come to Goa. Gajanan Kerkar, the CEO of Best Tourism Deals (India) Pvt. Ltd. says, “Goa is a beautiful state, it’s time we appreciate 22 Business Goa
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it and don’t take it for granted. There is a lot of potential in Goa, and if presented appropriately, we can be the most sought after holiday destination.” He explains further, “The only way we can achieve this dream is to offer the right services, for the right prices and with the right attitude.” “I used to work for home appliances before joining the online tourism industry as a hobby; but it grew as a passion. We eventually went full-fledged in this field as the demand through the virtual world is ever increasing. Initially, we had
decided to specialize in our own destination. We started in 2005 with just one website-www. BestGoaDeals.com. As statistics proved that internet users are growing, we began developing more specific service websites. In the initial years, we offered our clients a limited service as most operators were not very professional in offering their services. But gradually everyone realized the potential of our business and supported us very well, he says.” www.BestGoaDeals.com is one of the online brands of Best Tourism Deals (I) Pvt. Ltd., and is recognized by the Government of Goa, affiliated to GTDC and is also a member of the GCCI. They try to portray Goa as it truly is – ever welcoming and always lending a helping hand. The company has developed more than a hundred online brands for various services available in Goa. This website believes in a more personalized travel package and assistance to its clients. Instead of hovering over clients in a bid to make selfish profits, they believe in giving a more humble welcome to their guests. Gajanan says, “At BTD, we believe in supplying the right information to our clients and offering the right options to the guests.” He further explains, “We do not force them to buy our services, but suggest various services that we have on offer. Our key component is ‘customers delight’ and it helps the client choose what’s best for her.” “We need to make sure that the guests feel welcomed and not frightened when they decide to come to Goa or even when they first arrive. The prices, image perception of Goa and the courtesies that we extend matter a lot to our guests,” says Gajanan. In every nook and corner of
Goa, you can find people who offer you car hire services, water based activities, hotel packages, etc. But there is no single person or company which offers you everything on one platform or is able to customize your entire stay. “We understand and put the needs of our clients before the general structured packages. Our company provides them multiple options to make their stay a memorable one.” We also offer the normal 3 nights/4 days package deal to clients because it is what they have heard from their referrals. We also personalize the experience, by adding other activities for them to indulge in while in Goa. 80% of the people that we cater to are domestic tourists, 10% are FITs from abroad and other 10% are from the corporate sectors. We soon plan to branch out with websites such as BestKeralaDeals. com, BestKashmirDeals.com, BestHillstationDeals.com, etc. But we are currently focusing more on Goa as the demand is still very big here.” “The USP of our business has been to have an online presence and provide specialized services. We have a very strong and efficient team that is dedicated to our clients. They assist the travellers and in case of any issues that may occur, come to the rescue personally. This assurance given to the client makes her confident about dealing with us. This is the advantage over travel companies that are based outside Goa.” “We do a lot of marketing, but not in the traditional print or broadcast media. We do digital marketing for our products and services. Our online team work on search engine optimization (SEO) and try to get as much organic presence on the web as possible. We also promote
and always lending a helping hand. BGD has developed more than 100 online brands for various services available in Goa. This website believes in a more personalized travel package and assistance to its clients ourselves on social media platforms for specific services. These marketing strategies have been 90% beneficial whereas 10% of our revenues are generated by our sub-agents based outside the state, who we have groomed over the years. Each client is very important to us and we make it a point to respond to each of their queries. The queries are generated through web, phone and emails. “We also have a lot of repeat clientele with whom we have created a strong bond over the years. They refer a lot of business to us. There are local business networks like BNI, where members have also referred substantial business to us. We ask clients for feedback as we constantly try to improve on what we have to offer.” Clients go back home completely satisfied with the services. They even post testimonials on websites and social media platforms. One such testimonial from A LA MODE Goa
At BTD, they believe in giving the right information to their clients and offer the right options to the guests. The emphasis is not on selling their services, but suggesting the various services that they have on offer. BTD strives to achieve ‘customer delight’ helps the clients choose what’s best for him states, “Earlier I had to face great struggle to find the appropriate hotel with feasible prices for my friends and family who come to this state for a Goan experience. Ever since I started dealing with Best Tourism Deals, most of my
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www.bestgoadeals.com
worries are taken care of, as their team offers a wide range of resorts. Now I can safely say that my referrals can choose from a wide variety of options without any issues. My friends recently stayed at a five star resort, which was booked through Best Tourism Deals. The service courtesies extended to them was really worth appreciating.” Speaking about the growth plans, Gajanan says, “We look forward to get more products
and services in our list. Also to grow and improve our services, as there are many factors in Goa that has not been explored. At Best Tourism Deals, our intention is to create a positive perception of Goa in the minds of our clients. I believe only then it would be fair for us to call ourselves successful. As of now our entire team will work towards giving our clients a comfortable, honest and an amazing trip to the Pearl of the East, Goa”
NOVEMBER 2013
Business Goa 23
INTERVIEW OF THE MONTH
pramit raiker
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There is frequent change in the Government’s policy towards Gold. This is a disturbing trend MARK ALPHONSUS speaks to the President of the Goa Gold Dealers Association, Pramit Raiker about the current scenario in Goa’s gold industry and his plans for revival in the wake of Government price reforms Can you comment on the overall change in the Goan gold market over the years? Due to a significant increase in the population within the state, the overall market has shown considerable improvement. In the past, people used to invest in gold because of its easy liquidity. Ever since banks and other financial institutions have sprung up in large numbers, the concept of buying gold has changed and is now being bought for its ornamental use and not solely for investment or savings. The traditional concept of buying gold in Goa has also changed. People nowadays prefer more lightweight and Westerndesigned jewellery. Stone jewellery is one of the varieties that command extremely large demand in Goa. As President of the Goan Gold Dealers Association, what are your foremost priorities? My primary objective is to create a strong sense of unity among all our members and form a single-minded body that can come together to achieve common goals and intentions. As head of the Goan Gold Dealer’s Association, my foremost priority is to modernize the manufacturing process of making jewellery by adopting the latest techniques in jewellery production. Though the business does look to be extremely lucrative, we still have to face lots of difficulties at different stages in the procurement and mining of the raw material as well as finding fine artisans to work on it. The Association’s objective is going to be to try and improve as well as adapting to the changes in the business as per the modern customer’s needs. Another priority is to open a BIS hallmarking centre in Goa. The BIS Hallmarking Scheme is voluntary and operates under the 24 Business Goa
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My main objective is to unite all our members and to form a single-minded body that can come together to achieve a common goal and intention Pramit Raiker
BIS Act. It functions on the basis of trust and thus it is desirable that various aspects of quality control are built into the system. This system is responsible for managing the quality of the gold. Are there any particular challenges you think you might encounter? One of the problems present in the gold trade at the moment is that there are problems in procuring gold through the official channels due to a number of frequent changes in the Government’s policy towards gold. Additionally, there is a steady inflow of artisans from other states. Unfortunately, this results in the disappearance of the traditional and characteristic Goan art. Soon even the local artisans that produce them may go out of demand. As the Association President, what kind of support are you looking for from the Government? Until now there have been no Government facilities provided to the gold trade in any way, shape or form. I am of the strong opinion that the Government
should lend its support to the process of setting up a number of small scale units with Government-backed financial assistance. The Government should promote the setting up of small and micro units to tide over the ever-increasing problem of unemployment among the educated youth of Goa. This will go a long way in reaching out to the local artisans as well as being fruitful in their task of nurturing traditional Goan art jewellery. The Government should also bear in mind the possibility of making provisions for the same in the new investment policy. Do you feel that the Government is doing enough at present? Unfortunately they aren’t doing as much as is necessary for the industry. Currently there is not enough protection and security given to this trade from the Government’s side. On the part of the Association, we will try to do our utmost to convince the Government to take more initiative on the issue. Do you think the Government has substantial control over
the recent price hikes? In part, yes they do have control. However, due to a considerable hike in the custom duty, the price of gold has increased sharply. What are your views with regard to the RBI’s policy to import a maximum of 350 tonnes of gold in addition to the Government’s import duty hike? Due to the new restriction of gold imports to a maximum of 350 tonnes imposed by the RBI in addition to a simultaneous increase in custom duty, the current account deficit will decrease. This naturally leads to a strengthening of the Rupee’s value in the international market. On the other side of the coin however, there is an increasing fear that there might be a significant decline in gold trading due to the short supply of gold and a considerable upward surge in the price of the metal. This will subsequently cause a domino effect and will definitely affect the people as well as the ancillary service providers who depend on the business. Will there be a significant
There is a huge disparity in gold prices between India and foreign countries, on account of a sudden and dramatic rise in Customs Duty imposed by the Central Government. This creates an unhealthy situation where smuggling is bound to occur impact of the US shutdown on gold demand in the country if the current scenario continues? No, there will not be any substantial change in the market. What is your take on the gold smuggling racket (from Dubai to Mumbai/Goa) being uncovered at Dabolim airport over the recent past few weeks? At the moment, there is a huge disparity in gold prices between India and foreign countries, on account of a sudden and dramatic rise in Customs Duty imposed by the Central Government. This creates an unhealthy situation where smuggling is bound to occur. What would be a realistic prediction for gold sales in the upcoming festival season? As the festive season progresses,
As the festive season progresses, the gold sale is bound to adopt an upward trend due to the increase in demand for gold ornaments for festivals and marriages. Also, with an increase in the inflow of foreign and domestic tourists, the sales are likely to be positive the gold sale is bound to adopt an upward trend due to the conventional increase in demand for gold ornaments for festivals and marriages. In addition, with an increase in the inflow of
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Pramit Raiker handing over cheque of Rs.250000 to Manohar Parrikar towards Chief Minister of Goa Uttarakhand Relief Fund. Also seen is Vikram Verlekar of Ulhas Jewellers (Right)
foreign and domestic tourists, the sales are likely to be positive. Will there be any measures put in place to safeguard jewellers’ assets in the light of the rising rate of gold thefts in Goa? The Association has been putting serious and dedicated effort into convincing the police and other concerned authorities to step up security measures. This needs
to be conducted in separate ways to safeguard and prevent any untoward or objectionable incidents. The Association is currently taking various measures to convince jewellers into adopting adequate security measures such as the installation of CCTV cameras in their shops, deployment of security guards, safe storage and other requisite provisions
NOVEMBER 2013
Business Goa 25
The company’s main client was and still is Mahindra & Mahindra. Sardesai describes the early days of the partnership. “We had to translate a number of French drawings that we obtained when Peugeot tied up with Mahindra
INDUSTRY Sandeep sardesai
vinaya enterprises
Breaking new ground in rubber manufacturing
MARK ALPHONSUS speaks to Sandeep Sardesai about how he set up his own plant and his journey manufacturing essential rubber products
S
andeep Sardesai is a true pioneer in his field. He has been in the rubber production business for over 30 years; has tackled almost everything that has been thrown at him and emerged relatively unscathed. His company – Vinaya Enterprises also holds the proud distinction of being the state’s first ISO 9000 approved company. Born and raised in Bombay, to parents of Goan origin, Sardesai completed his education up to the college level there before deciding to start a business with his brother-in-law. “I returned to Goa in 1984, giving up my business in Bombay as expansion became extremely costly in terms of land prices, power, etc,” he recalls. Goa, in that respect was much cheaper at the time. His first venture into the testing waters of the Goan market began in 1987. His first product in Goa was inner (tyre) tubes for two and four wheelers supplying the market even up to Delhi and Bombay. “We started a unit at Sancoale (his current location in Cuncolim didn’t exist then). There was nothing in Goa that time, no proper roads, no power, no telephone,” he remembers wistfully. “Now, people in Goa take all this for granted. If the electricity goes off for more than two hours people say that they can’t conduct any business. If we had to order raw materials, we had to use the post or book a phone call!” In terms of his business venture, there were no guarantees when it came to the replacement or maintenance of the raw materials as there were hardly any mechanics around to repair any damaged goods that came with the consignments. “I had to go to Bombay almost every week with a huge list of required parts for maintenance,” he says nonchalantly, as if it 26 Business Goa
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The government should realize that they can create thousands of jobs if a single two or four wheeler manufacturing plant is set up in the state
Sandeep Sardesai
were no big deal back then. The infrastructure in the state at the time and lack of required labour proved to be extremely tricky hurdles to overcome. Despite all this, they set up the business, doggedly negotiating all the hardships they came across. Sardesai says that through all the tough times, the belief that this was part and parcel of any person’s experience in the initial stages of setting up a business, gave him the will to push forward. The timing of Sardesai’s return to Goa and the establishment of his business was a bit unfortunate. The trade unions at the time in Goa were extremely ‘militant.’ Since he had set shop in Sancoale, this exposed him and his business to the problems within the unions. “Ours was a part of the Zuari union,” he says. “This created a lot of infighting due to rivalry rather than due to the traditional issues of low-pay,” he explains. Fortunately, he managed to exit that union and move to his
current location at the Cuncolim Industrial Estate in 1995, where he set up Vinaya Enterprises. He began the production of rubber products especially for the automotive industry, including a portfolio that includes O rings, hoses, rubber gaskets and metal bonded rubber parts. Almost all processes involving the production are handled at the factory itself, including the quality assurance (QA) testing of the products. “Our main expertise lies in our in-house compounding which other rubber manufacturers generally outsource to Bombay,” he says proudly. Discussing the company’s products, Sardesai says, “We buy raw rubber in the form of polymer as well as natural rubber. Our main focus is on sourcing synthetic raw material like Nitrile, PVR, EPDM and Silicone.” The raw material rubber is mixed with carbon and other chemicals. They generally make their own rubber formulation by factoring in the
conditions of the environment where the rubber is going to be used based on issues like temperature, oil and chemical resistance as well as tensile strength. “Most of our clients give us their own formulation specifications according to which we produce the rubber products. EPDM is the only one that we import from outside the country,” he says. EPDM is used in producing hoses, washers and ‘O’rings although Sardesai mentions, its primary function (as a roofing material) hasn’t found a market in India. EPDM roofing is extremely popular worldwide, although it is virtually nonexistent in India. It has the properties of being heat and fire resistant as well as being water proof and ozone resistant (prevents rubber cracking). “We have tried to create awareness for EPDM roofing in the market,” he says. “Unfortunately, while the qualities of the material are extremely useful, clients find the cost extremely high.”
back in 1979. It was difficult, as the only way I could produce the parts was by decoding the drawings.” This was a gruelling task; especially without the help of internet tools like Google Translate His main client was and still is Mahindra & Mahindra. Sardesai describes the early days of the partnership. “We had to translate a number of French drawings that we obtained when Peugeot tied up with Mahindra back in 1979. It was difficult, as the only way I could produce the parts was by decoding the drawings.” This was a gruelling task; especially without the help of internet tools like Google Translate and it is something that he considers to be one of his finer achievements. Sardesai also touched upon the company’s future outlook as well as its room for future expansion. “Things are slightly sluggish in the market at the moment. For almost 16 years, we have enjoyed growth of almost 20% every year,” he says with great confidence. He considers himself lucky and he goes on to explain how the cycle of positive growth generally lasts for about 12 years. “In this case, we have enjoyed a four
The company’s main expertise lies in the in-house compounding which other rubber manufacturers generally outsource to Bombay. They buy raw rubber in the form of polymer as well as natural rubber
The unit at work
year bonus,” he says with a hearty chuckle, referring to the 16 years of an uptrend in the company’s fortunes. He then clarifies that the scenario does not hold true only for Goa; citing the obvious market trend. “Due to globalization, almost all similar industries over the world are affected in the very same way.” Referring to the years that he has spent in business and
the support of his capable son Prateek in running the show, Sardesai might come across as a little more laidback than his achievements suggest. “The past few years, I have taken a backseat while my son handles the day to day running of the company,” he explains. “I have been doing this for some time and I feel confident in handing over the business to my son.” Also helping out in the management of the factory are two exceptional brothers; Nishant and Vivek Ghodekar.
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“They have been working with me for more than 15 years,” remarks Sardesai, beaming with pride. “Together, the trio maintains control over the dayto-day running of the business, the finances and making sure that we don’t overspend,” he adds. Sardesai also speaks about a topic that he feels is especially important to Goa’s industrial landscape as well as unskilled workers - the dearth of manufacturing units for four and two wheelers within the state. “The government should realize that they can create thousands of jobs if a single two or four wheeler manufacturing plant is set up in the state,” he states. He agrees that it might be down to a lack of awareness; but he also feels that there has been a lack of initiative shown towards a decent project that can create a lot of employment opportunities like assembly line workers and rubber manufacturers and fitters
NOVEMBER 2013
Business Goa 27
GOAN BRAND
Cazulo, when translated into Konkani means firefly. As Hansel explains, the reason behind the name was inspired by the warm feeling you experience when you down a shot of Feni, which Hansel has likened to the warm glow of a firefly
Cazulo
Branding Feni Goodness H Hansel Vaz talks to ALISHA PATEL about how he built his brand of Feni, Cazulo
ow many people does it take to change the way we drink and identify Feni? Just one man. Hansel Vaz. Hailing from a family with various business interests in alcohol, Hansel noticed that the perception of Feni had begun to change over the years. “One of the businesses that my family ran, was a small bottling unit in which we bottled a brand; Dona Maria, since 1983. I grew up surrounded by Feni. Having travelled the world in my professional capacity as a geologist, I have seen how other countries portrayed their signature liquors. When you look at a bottle of feni, you immediately realize that the marketing of the liquor has been forgotten since the 1970s. I always knew that I would have to give up my career and return to run our family business at some point. Rather than take it over, it would be more fulfilling to expand our bottling plant. It also gave me a challenge to re-invent the way in which we perceive and sell Goa’s long lost classic drink – Cashew and Coconut Feni. I wanted to restore the authenticity of what fine Feni actually tastes like and began putting my plans into action,” reveals Hansel. Cazulo, translated from Konkani means firefly – the tiny glowing insect that is found all over Goa. As Hansel explains, “the diffused glow of the firefly is much like the warm feeling of Feni as it worms its way down your chest.” Keeping in mind that branding and repositioning “tastefully” was of utmost importance, Hansel teamed up with a reputed designer from New Zealand; Ryan Marx Design, for the design and packaging. “I wanted something that would showcase our Goan heritage and yet educate the consumer at the same time. A Cazulo bottle 28 Business Goa
NOVEMBER 2013
has subtle elegant touches of embossing and our die-cut paper labels and cork stoppered bottles further strengthen the notion of premium craftsmanship. The central logo of Cazulo, is directly influenced from Indian henna patterns, as I felt it was uniquely Indian and was something even foreigners identified India with,” says Hansel. He further explains that the colours of his bottles too, were inspired by the vibrant red and green colours which are typically associated with the Kunbi and Velip tribes of Goa. He has also included a traditional Matoli design on the border as well as a brief description of Feni and its origins. Acknowledging that it is not only the packaging that makes a complete product, Hansel has paid special attention to the alcohol. “Most Feni brands spend a lot of time and effort coming out with eye catching package designs and less time on the actual drink. The graceful packaging has to be matched with equally fine feni inside.” states Hansel. Like any good manufacturer, Hansel keeps the source of his Feni a closely guarded secret but reveals that he sources some of his Feni from plantations in Quepem. Due to the cumbersome laws on the manufacture of country liquor, Hansel has instead tied up with handpicked traditional master distillers to supply him with Feni made as per his specifications. Hansel also stresses upon the fact that the Feni sold by him is made naturally without the use of plastic at any stage. Also, all the feni is aged in glass carboys for a year before they are bottled. The coconut Feni he reveals, is sourced from two toddy tappers with whom he works very closely. “I have been blessed with a toddy tapper who understands the importance of following traditions and understands where
Besides promoting Cazulo on social media networks, there is a QR code on the bottles, which when scanned with smart phones takes customers to their website which provides them the complete know-how on how to drink Cazulo
Hansel Vaz
I am coming from while making Coconut Feni. He is doing so well, that he has even engaged his brother-in-law to help him with the tapping,” says Hansel. Despite being in the market for less than a year, Cazulo has already won international accolades from CNN Travel who have rated it one of the top seven spirits in Asia. His bottle design even made it to the finals of an international design competition; The New Zealand Best Awards, earlier this year. “For a small home grown brand, to achieve this so early on in my journey was something I never expected and has been the biggest break that I could ever ask for,” exclaims Hansel. Though Hansel feels that he launched his product during the off-season, he feels that the response has been overwhelming. “Cazulo shocked the markets. After I launched my product, a number of five star resorts, bottle stores and restaurants began contacting me with queries for supply. What was most heartening for me, is when I began marketing Cazulo at restaurants. I was pleasantly surprised to have found that they already had them in their bar
shelves. Some even invited me to try a few cocktails, which they had made based around Cazulo,” states Hansel. Cazulo, as Hansel puts it, is more a passion than a business. “I still work overseas to fund my passion, and I dedicate time everyday to look into the operations and flow of sales. With the internet, smart-phone and a very supportive family, nothing is too far,” he reveals. Taking the branding of Feni to the next level, Hansel states that besides promoting Cazulo on social media networks such as Facebook, Twitter and Instagram, there is a quirky QR code on the bottles, which when scanned with smart phones takes customers to their website which provides them the complete know-how on how to drink Cazulo. Hansel is also working hard on the design of a signature Feni glass which is aims to launch and brand in the coming year. Having come this far in just a short span of time, Hansel feels that though the brand has the potential to grow leaps and bounds, he is content for now and as he takes a sip of his signature chilly cocktail “Firefly Fire”, all he can say is ‘Saudes’ to life!
work is worship
The reputation of certain jobs is on a major downscale. These jobs are not appreciated by the public due to varied reasons. We carry a prejudiced perception
They are working. Don’t judge them harshly MONALIZA DIAS unearths common misconceptions surrounding certain jobs
F
avouring white collared jobs has become a trend in recent years. There are also numerous other jobs which could possibly be on the same scale as these jobs when compared to its success ratio, but as far as the way they are perceived by society in general is concerned, it is a major downer. These jobs are not appreciated by the public due to varied reasons. We carry a prejudiced perception of these fields. Hence the people working in these fields are most affected. Although these are justifiable reasons, not all may be true. In order to know the truth we have to look at it from the perspective of people employed in these areas. These are booming industries which give you a shot at making huge money in a span of a few years but only with the added ingredients of dedication, honesty and hard work. Unfortunately they do face criticism for no fault of theirs. Salons & Spas are a booming industry in the state of Goa, as over the years, people have become more conscious of their wellbeing. However, the fact remains that this industry 30 Business Goa
NOVEMBER 2013
There are booming industries which give you a shot at making huge money in a span of a few years but only with the added ingredients of dedication, honesty and hard work has garnered a bad reputation over the years due to the raids conducted at various spas. These raids have brought to light some nefarious activities that some rogue spa owners have been indulging in. However we may choose to see the situation, there are spas which are running as honest businesses, but have to bear the brunt of harsh comments. Priyanka Pereira, Incharge of Tatva Spa Calangute says, “People come to Goa for fun. The view of fun varies from person to person. We cannot change the fact that people come to Goa for ‘wrong reasons’ as well. What we can do is conduct ourselves professionally. So whenever a person walks in with the wrong intention, he/she immediately realizes that this is a
family spa. Whenever somebody speaks ill of this profession all we can do is try to show them the truth by our work ethics.” We generally typecast men working at a salon or spa as homosexuals without a second thought. This stereotypical image of those men preening your hair while you ramble on about your family woes are nothing but gay! Yes, that’s what all of us think. But it’s not always the case. Jessy Chhangte, a massage therapist at Tatva spa says, “Before I joined Tatva Spa people would tell me that working at a Salon & Spa is a dirty business. They even cautioned me when I decided to join. I’ve been working at the spa for over a year now. I know now this isn’t a dirty profession. And yes, people do carry the notion that male employees at a Salon & Spa are homosexuals. It has never occurred to me but I’ve heard these streotypes. We cannot change the way people think. They just have to learn to break the biased roles for both the sexes when it comes to choosing a profession of your liking.” If women can now take up more ‘masculine’ jobs so can
men take up ‘feminine’ jobs. A job is a means of livelihood and should not be subjected to a certain gender. If it pays the bills, that’s all that matters. While the employees of salons & spas are busy all day trying to get back the image of their profession, call centre employees work odd hours and gruelling shifts, a profession that is quite appealing with high incentives and pay. However the pay might not seem worth the price. The tasking shifts at night take a toll on them. If the person has responsibilities other than his job, he is likely to have health issues. And sometimes completely lose out on relationships as their job takes a major chunk of their time. Due to these reasons, many call centre employees leave the job, while only a few determined ones continue with the profession. These employees see it as a means to a better future. The pay that they get at a call centre would be more than any other job. Denver Correia, a call centre employee says, “This is my first job after graduation, although I don’t plan on making a career in this field, it has taught me a few tricks of the trade. And my communication skills have improved tremendously. I would not recommend it as a long term career as it affects your family life and health. But it does help you make a quick buck, that being the reason that I joined. It is a good job in smaller states, it is only the bad reputation from the bigger cities that has rubbed against the image of the call centre as a whole. But we can’t change the way people think. If the job has been beneficial to you, people would notice it and maybe change their perception.” Another profession that comes to mind when you think of being misjudged is the ever tiring job of a salesman. People believe that salesmen are generally not trustworthy, only looking to make
of these fields. Hence the people working in these fields are most affected. Although there are justifiable reasons for being apprehensive and holding prejudices, not all may be true a sale. Many people, especially housewives and older people adopt the humorous view that door-to-door salesmen are making a dry run of houses in the anticipation of robbing them! When we see a salesman at our doorstep we immediately shut the door and answer rather rudely ‘nahi chahiye!’ We do not inquire about the products but just automatically assume it’s nothing but a fraud. Suresh K, a salesman of encyclopaedia books says, “I often feel dejected. As almost every other person does not respond well on seeing a salesman. We sell products which would only benefit the customer. But they don’t quite believe our honesty. They assume us to be thieves on a mission to kill them and steal all their wealth. The only way we could change the way people think is if people start trusting us.” We all dream of flying high. A dream rather far too real for an air hostess who flies across states and countries every day.
But people see the job as too easy to be taken seriously. Also they are generally expected to be fair, thin, etc. A narrow minded view of traditional beauty has resulted in a dim view of the profession especially among men. People deem them as having fake personalities because their use of makeup and are always immaculately groomed. Many people also believe that they’re not very smart – all they do is act as waitresses and make announcements. Olivia Fernandes, an airhostess of a leading national airline says, “Once I had an outburst of pimples and I was put on off duty for a week. I had to consult a skin doctor who charged one thousand rupees per visit. But in this industry you have to look presentable as not only are you a representative of the airline you work for but this is also a means to ensure that the passengers are pleased with your services. It is a tiring job. You wake up in one city and sleep in another. Not all
people misjudge the profession, but whoever does will change their perception once they see the ground reality of being an air hostess.” Every one of us in professional fields has a certain negative aspect. But we choose to feign ignorance as it’s a highly respected job. There may be cases of corruption within these high profile jobs but it just gets passed under the table. But certain jobs with a few cases of negativity are subjected as inapt by all and sundry. We are not only passing them off as inferior but also demeaning the people working there. There are honest employees who diligently work towards achieving the aim of their job. It is unfair to judge them based on past experiences or rumours. We have to look at the hard work the person puts into his job and not the status of his job. If we all judged on the basis of the outcome, maybe then no job would be a subject of a prejudiced view
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ISSUE 5 PANAJI GOA VOL 5
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Magazine Goa’s Only Business
In Search of New Frontiers
KASHINATH DAMODAR
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Datta Damodar Naik and son Chirag carry the legacy of the KD Naik Group established in 1931. Forward looking in business ideas,is the Group today, growing in the food retail and housing business
NAIK GROUP
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Goa’s Only Business Magazine
PANAJI GOA VOL 5 ISSUE 1
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Chirag Naik
Director, KDN Group
Datta Damodar Naik
MD, KDN Group
51
SHRINIVAS DEMPO
ANJAN CHATTERJEE
Speaks at The Entrepreneur’s Notepad
Sworn in as of Vice Consul Italy in Goa
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NOVEMBER 2013
Business Goa 31
EVENT OF THE MONTH
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BNI Members Day and Awards held at Margao BNI recently hosted its members’ day at the Metropole Hall in Margao. The event saw the guest of honour Atul Pai Kane, Chairman of the Pai Kane Group and President of CII-Goa; and J.V.C. Shreeram, International Training consultant and founder of Aura Leadership Foundation; delivering inspirational speeches to a distinguished audience of entrepreneurs in attendance. The theme of the day was business growth and how to effectively harness it. Rajkumar Kamat delivered the welcome address, shedding light on the growth, achievements and performances of BNI within its Goan context. Through an interactive session with the audience, Atul Pai Kane shared his experiences and his progression from being a Goa-based entrepreneur, who eventually moved on to the international markets. He spoke about the dangers of Goan-
educated entrepreneurs leaving the state to start businesses abroad. “People making money off our USP aren’t giving back,” he mentioned. He also touched upon various facets of achieving profitable growth and how keeping abreast of the market helped his business brave through tough situations. On the topic of managing growth and creating the right atmosphere for business growth, J.V.C. Shreeram focused on the need for re-invention within a business’ hierarchy. In a simplistic yet powerful delivery, he highlighted the important mistakes made by business owners. Citing Nokia’s dramatic fall from grace, from its 40 percent market share and valuation of over $30 billion, to its sale to Microsoft at a paltry $5 billion; he drove home the point that no company, no matter how big, can rest on their laurels. “Change is the only constant;
that which does not change does not grow, and that which does not grow, dies,” he said, in reference to small and midlevel organizations that often face the danger of stagnation. He spoke about managing this growth through the five steps of self introspection, changing systems and hiring people that suit the business, altering priorities, and having at least one non-negotiable policy in the company. He drew attention to
the fact that employers tend to distance themselves from their employees resulting in the hiring of unemployable people who are not adequately fit to do their designated jobs. The event concluded with the presentation of awards to performing members of BNI and respective Chapters, in recognition for performances in the aspects of Maximum Business, Referrals and Traffic Points among other categories
Sneha Bhandare speaks at I, The Entrepreneur The Centre for Innovation and Business Acceleration, Verna invited Sneha Bhandare, founding director of Nirvana T-shirts to speak at their flagship event – I, The Entrepreneur. Speaking at the event, she underlined three main factors that make a successful entrepreneur – innovation, discipline and passion. Sneha and her husband Raj came up with the idea of patronizing Indian goods in response to economic sanctions placed on the country in the wake of the Pokhran nuclear test in 1998. The t-shirts themselves were essentially a hobby which started out as her husband’s artistic impression of himself. She described her t-shirts as a means of breaking barriers and being liberated by ‘clothing yourself in art,’ while simultaneously maintaining a definite ‘cult brand’ following. She wisely remarked about not everyone being a customer, 32 Business Goa
NOVEMBER 2013
You have to start somewhere. Does a baby need experience to learn how to breathe or walk? You have to simply take the plunge! Sneha Bhandare co-founder Nirvana T-shirts on starting your business
“if people not meant for your product are seen with the product, what is the point of the brand?” Sneha stressed on the importance of various factors involved in building a startup. “You have to start somewhere,” she encouragingly advised, when asked by a member of the audience whether a person needs to have prior experience. She added, “Does a baby need experience to learn how to breathe or walk? You have to simply take the plunge!” She
highlighted the importance of using social media as a tool for marketing strategy and even hiring people, describing how the economic situation globally has allowed her to hire artists at a much lower cost. “Always hire people who are hungry to grow, these people will help your business grow too,” she recommends. Sneha also touched upon the idea of entrepreneurship being a passion rather than a job. She spoke about her initial experiences of going from shop
to shop just to get the reactions of different merchandisers to her products. She credits her partnership with her artistic and creative husband for the success of Nirvana. “Figure out your strengths and marry someone who complements those strengths,” she suggested mischievously. A member of the audience Zubin Fernandes, who works in the automotive sector in Kuwait, described the event as incredibly motivational and a significant boost to those looking to start a business. “Many people have gone out of the state or abroad to gain this kind of exposure,” he stated. “It’s a good thing that such an event can be held right here in Goa,” He added
The Voice of Business in Goa
CAMPUS GOA
book shelf
Chowgule College organizes Geographize
RICHARD KOCH
Geographize an intercollegiate event was organised by the Department of Geography at Chowgule College recently. The event was started last year on the occasion of Golden Jubilee year of the College with the purpose of enhancing the geographical knowledge among the students of various colleges across the state. This year, nearly 250 participants from ten colleges namely, Government College, Quepem; GVM’s Dada Vaidya College of Education, Ponda; St. Xavier’s College, Mapusa; Carmel College, Nuvem; Government College, Pernem; Government College, Khandola; Damodar College, Margao; Mallikarjun College, Canacona, Gogate-Jogalekar College,
Ratnagiri, Maharashtra and Chowgule College Margao were a part of this event. GVM’s Dada Vaidya College of Education, Ponda emerged as Winners of Geographize 2013 and Government College, Pernem were the Runner’s-up. The various competitions organised were treasure hunt, quiz, poster making, newsletter making, presentation competition, modelmaking, geography reporter and skit competition. “Geographize is the only one of its kind in the fraternity of Geography, that enables the students to showcase their geographical skills through various events”, stated Dr. Nandkumar Sawant, VicePrincipal and Head, Department of Geography
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The 80/20 Principle: Ten Ways to become a great leader This enlightening read teaches you how to tap into the hidden potential of the 80/20 principle by applying it to life and business. It expands on the idea of delegation, making the workload of a manager lighter. The book is Richard Koch’s system towards optimizing the management of a successful business. It works on achieving goals with a minimum of fuss. The book is in some ways, an ingenious laziness guide to building a firm that ‘works smart’ instead of simply ‘working hard.’ The 80/20 Principle shows how you can achieve more with less effort, time and resources, by concentrating on the all-important 20 per cent. This 20 percent incidentally comprises all the activities that produce 80 percent of your financial rewards. Astonishingly, though the 80/20 Principle has greatly influenced today’s world, this is the first book which depicts it in a systematic and practical way. It helps translate the 80/20 rule into focusing a large portion of your time to your passion and the things you enjoy allow you to live life productively. It encompasses a variety of situations where 20% of the things you do are actually important. The book is an incredible read and provides effective techniques in the quest towards achieving an optimal business Publisher:
BG CROSSWORD 48
Piatkus
QUIZZARE
GCCI and I Create conduct Regional Business Plan Competition The Goa Chamber of Commerce and Industry with I Create conducted a Regional Business Plan Competition in various colleges and institutions across the state. The I Create program was aimed at giving students an alternate career option of taking up entrepreneurship. Fourteen institutions were covered which included, Govt. College (Quepem), Fr. Agnel’s (Pilar), V.N.S.Bandekar (Assagao), Rosary (Navelim), Saraswat SCCCMS (Khorlim Bardez), Shree Damodar (Margao), Narayan Zantye (Bicholim), St. Xavier’s (Mapusa), Shri Mallikarjun (Canacona), MES (Vasco), S.S.Dempo BBA (Panjim), SSIMS (Margao), SRIEIT (Shiroda), R M Salgaonkar HSS (Margao). The competition had 11 participants representing 34 Business Goa
NOVEMBER 2013
their respective colleges with individual business plans. The best business plan award went to Fr. Agnels Pilar for Granny’s Gold Free Range Eggs poultry farm, second place to S.S. Dempo College for NOW (Nutrition on Wheels) fresh food, Third place went to SSIMS College with Bakes, Customized Branded Bread and the Second runner up went to St. Xaviers College with MR. Clean, professional cleaning services. The winners, Silvano Soares from Fr. Agnels Pilar, Disha Juwarkar from S.S. Dempo BBA Panjim and Neelima Dias of SSIMS Margao, and Riddhish Panchigar of St. Xaviers College will now compete with the same plans at the I Create National Business Plan Competition (NBPC) at Jaipur on the 1st of Feb 2014
Across: 1 – Company you would associate with instant photographs (8) 6 – ___ and Yang (3) 7 – Magazine of popular culture, fashion and current affairs (6,4) 9 – Royal ____ race – where everyone wears new hats (5) 11 – Incorporation, in short (3) 12 – Kalanithi _____, chairman of Sun Group (5) 13 – Insurance policy providing coverage for a limited time period (4) 15 – Comptroller and Auditor General, in short (1,1,1) 16 – Old programming language, also a company in the movie Inception (5) Down: 1 – Russian political newspaper (6) 2 – India’s largest date processing company (4) 3 – Oil of ____ – skin care line (4) 4 – Alfred Nobel’s big invention (8) 5 – Greek company specializing in defense system software development (8) 8 – The ship James Cameron brought back to life (7) 10 – Renault car brand (5) 14 – ___ Group – major European TV and radio company (3) answers to crossword 47 Across 1 – Samsung 6 – Usha 7 – Liril 8 – Igate 9 – Noida 10 TDSL 13 – Raider 15 – DTS 16 – Manga Down 1 – Solitaire 2 – Morgan 3 – Unlimited 4 – Gujarat 5 – Cheetos 11 – Dean 12 Luna 14 – IST
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professional dossier dr. suresh dubhashi
Dr Dubhashi says, “I have always been ambitious and the urge to achieve more was always in me; hence I decided to start my own hospital. My dream became a reality in 2002 when I established Vintage Hospital”
vintage hospital
On a life-saving mission
M
y passion has always been medicine. But merely because I had a keen interest in this field did not mean it was easy for me. Passion is never enough, hard work and a bit of luck counts, too. I only got into medicine through great struggle at every point and because of my determined efforts at my college entrance examinations. I see getting into the Royal College of Surgeons in Edinburgh as an achievement in itself as it is one of the most renowned college of surgery. I have also obtained degrees at the Royal College of Physicians & Surgeons Glasgow, UK (FRCS), International College of Surgeons, Great Britain Section, UK (FICS), and The Association of Surgeons of India (FAIS). Today due to my hard work and unflinching dedication, I am an established doctor. I am a general surgeon so that includes various types of responsibilities under my belt. I started my job in cancer surgery. I also specialize in general surgery and even do breast and colorectal surgery. Thirty four years ago, at the beginning of my career, I took up a job with Tata Memorial Hospital in Mumbai; but a monthly salary never attracted me. My first salary was just 50 Rupees. Then, as a surgeon, I was paid 750 rupees. I never felt satisfied working for someone else. I have always been ambitious and the urge to achieve more was always present in me; hence I decided to establish my own hospital. My dream became a reality in the year 2002 when I established ‘Vintage Hospital,’ of which I am the Director. I am where I am today because I have worked hard. My journey in the medical field has been very difficult right from the start. You require commitment and just pure passion for this field. Being a doctor, back in the day would satisfy me; but it hardly does in these modern 36 Business Goa
NOVEMBER 2013
A doctor’s life is all about sacrifices and hard work, says Dr. Suresh Dubhashi
High end equipment at Vintage Hospital
days with corruption lurking around every corner. My prime motto has always been to help people but there are other unsaid factors which are important to me. A doctor always has to sacrifice on aspects of his personal life. It is an irony. On one side you are saving lives but on the other, you are losing some aspects of your own life. A doctor leaves home in the morning looking at his children sleeping and again, when he comes back at night he sees them sleeping. That is literally the only time he gets a glimpse of his kids. In that sense, he misses the opportunity of witnessing some important moments in his personal life. It is difficult for the couple as well. Lady doctors choose to leave their profession because it becomes hard for them to maintain a balance between their personal and professional lives. You can never have a balance if you are a doctor. Your profession should and must be your priority. Although there are other rewards of being a doctor. Saving a life or having improved the life of another human being, puts me at ease over missing out on my personal life. I have faced major struggles in my life. Being an outsider in Mumbai you require a godfather to help you. I had none, so I decided to go abroad. It was not easy. I had the most difficult time getting a job and more importantly, sustaining it. Concurrently, preparing for my examinations was not an easy
task. At that time, the British government had derecognized Indian institutions and India had also done the same. The qualifications which I had achieved in India were of no use. However, the Irish government had not done so. Many of my friends appeared 20 to 30 times but did not get through; but I was fortunate enough to secure admissions. I lived and worked in the United Kingdom for 20 years before coming back to India. There are incidents in my professional life that make me glad that I am a doctor and these allow me to forget all my woes about the profession. One of these instances was a child who fell off the 4th floor of a hotel in Panjim, bearing severe internal damages. Today the child is normal. It is a blessing to be able to save a life. At the same time I should mention that I have also faced difficult experiences which tested my skills as a doctor. I was once doing a caesarian surgery. It was a very complicated case and it happened to be my first. I did not know whether to save the child or the mother. In the end I did make a sensible decision. It was the most nervewrecking case that I ever had and it did help me grow as a doctor.
Nowadays not everybody wants to work long hours. Many want to be able to have the tag of being a surgeon without wanting to go in the operation theatre. You can say that they do it only for the name, fame and money; but the true essence of being a doctor lies in the selfless dedication to serving the patient. As a professional, I have my pet peeves about the way the medical profession carries itself in Goa. There are all sorts of unethical practices. Now private practitioners as well as hospitals are slowly following this heinous trend. I would rather retire and play golf all my life. I believe that I have not reached the peak of success as yet. Ambition is the unfulfilled desire of an individual. Whatever I have achieved should be credited to my wife Medha. She has always been patient with me and my work demands. She has been a wonderful mother to our two kids Saahil and Shaunak and an even more wonderful wife to me
Dr Suresh Dubhashi
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on of i t p m u s n o C urage o c n E o t s e v i cheme. S l Incent a i r e t a M Local Raw For application forms and more information: www.goaditc.gov.in OR Contact: Mrs. Bertha Gracias, Mr. Satish Gaonkar OR Mr. Tushar Sawant AT 0832 2222241
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Directorate of Industries, Trade & Commerce PARTNERING INDUSTRIAL GROWTH
LADY POWER
Baby Basics attracts customers from all over Goa. Madhavi has even managed to bring in imported brands. From its humble birth in a small room that stocked the bare essentials, Baby Basics has expanded to incorporate more rooms, as well as a whole new level above the original store
madhavi verencar
Baby’s Day Out Everyday
Madhavi Verencar
B
aby Basics in Margao is the go-to store where you can find anything and everything needed for a baby. “Here you will find everything you possibly need for a baby except a baby itself,” says store owner Madhavi Verencar mischievously. Madhavi is originally from Panjim but moved to Margao after her marriage in 1992. She is a graduate in Fine Arts but did not pursue a career with oil on canvas, but rather started from scratch to paint the business of her passion. Madhavi set up her shop because of her daughter. “When I was expecting my daughter, I realized that it was very difficult to find garments, shoes and other necessary items for babies. Very few shops in small corners of the market stocked them. One had to go searching around different shops,” she recalls. While on a trip to Mumbai, she noticed that there were numerous shops in the city dealing in baby merchandise. “These shops were doing really well. I realized that this was something Goa needed; especially for single mothers, since it’s even more difficult for them to go shopping with their toddler,” she says. In 1993, Madhavi opened a shop, deciding to name it Baby 38 Business Goa
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Believe in yourself wholeheartedly. If you do that, you can achieve anything. Don’t let anyone or anything put you down, be it big or small. If you want to live your life, live it right Basics. She started off with just a few items as a branch from the former Funny Bunny Company and stocked items from Mumbai that were not produced by them. The shop was not a success from the very start. Madhavi remembers the uphill battle she used to face daily, ‘’It took ten years to finally settle down. I lost a lot of money in the beginning because sometimes there was no business at all.” She adds, “I would worry at night about the business and the dead stock that was accumulating.” But she didn’t give up. She knew that it was part and parcel of any business. Madhavi worked long and hard to make Baby Basics what it is today. Initially, she would do everything herself, “I would wake at dawn and bring the stock from the storage to the
SONIA FERNANDES talks to Madhavi Verencar about how she started and built Baby Basics from scratch
shop. I would open up the boxes and stack them myself.” Baby Basics has now grown manifolds. It presently attracts customers from all over Goa. Madhavi has even managed to bring in imported brands. From its humble birth in a small room that stocked the bare essentials, Baby Basics has expanded to incorporate more rooms, as well as a whole new level above the original store. Some of the items available are garments for new-born to six-month-old babies, feeding bottles, prams, baby cots, and a variety of toys for children. If they don’t have a product in the store, they will do their best to order it. Madhavi credits her business knowledge to her father. “Being a businessman himself, I learnt everything that I needed to run a business from him. If I ever needed advice, I would go to him,” she says. Madhavi has had to face opposition from some quarters of her family, too; but she knew what she really wanted and didn’t let that stop her. She says, “There never was a female in the family that wore jeans or had an occupation – I was the first. But I was sure of myself and what I wanted, so I didn’t let the family’s displeasure deter me.” She took a break when her daughter was born, but continued with the business once her daughter was old enough.” I cook in the morning before I leave for work. I also have a full-time maid who is really good and I am very thankful for that. Also when I get back home, I assess all that has happened during the day and deal with it appropriately. I have never neglected my duties at home,” she says. As for her future plans, Madhavi would like to further expand the business to occupy the whole building. As for now she is content. “For the past 20 years I have given it my all and more. I have done everything on my own – from registering
and filing the stock at six in the morning, to closing the shutters at night. I now feel it’s time for me to lie back a little.” She reiterates her dedication to her store, “I have been my own lone supporter and I have made the business what it is today. That is an extremely great sense of achievement for me.” Madhavi has very straightforward principles when it comes to her business. She says, “Be true to yourself and your customers. You cannot fool them; it eventually comes back to you.” She describes her approach towards dealing with customers, “I rate all my stock reasonably and affordably, I hate the words ‘sale’ or ‘discount’! For all the old items that I have, I make it a point to inform my customers that it is old stock and hence will be going for a lesser price. As for dead stock that doesn’t get sold, I donate it to orphanages and charitable trusts.” Madhavi also doesn’t like to dictate orders when it comes to her workers. She prefers doing the job herself and showing them how it’s done, as opposed to ordering them to do it. “I love to work; It is like my drug,” she says. Madhavi also enjoys the occasional break from the rigours of her vocation, “It’s not all work and no play for me. I am a movie buff, I love watching English movies! I enjoy my night outs with friends too,” she says. As for the philosophy that she lives her life by, Madhavi has some inspiring advice, especially for other women who want to get into the field of entrepreneurship, “Believe in yourself wholeheartedly. If you do that, you can achieve anything. Don’t let anyone or anything put you down, be it big or small. If you want to live your life, live it right.” She shares her business mantra, “When it comes to business there are ups and downs, but always remember, tomorrow is another day. Be confident!”
reLUCTANT ENTREPRENEUR
Generally entrepreneurs do not have the luxury of using other people’s money to realise their dreams; even if they are bad dreams. The key message remains: Core Competency is very important
Stick to the Knitting The writer talks about a company’s future growth without the urgency to spread itself too thin by focussing on what it does best
Blaise Costabir The Columnist is a first-generation entrepreneur whose company manufactures water tanks blaise@gmizm.com
O
nce, our brand SHAKTI began establishing itself in the early years, we began to get a lot of offers to either diversify or start greenfield ventures from prospective investors. They felt that since we were successful with one project, we would automatically be able to replicate the same elsewhere. Not believing that either I or my Company were endowed with the proverbial Midas touch, we never ventured into uncharted areas. The Porter model which I was familiar with, mentions the same aspect; a company must do what it does best better and not spread itself so thin that it does worse at what it was doing well. We focus on making good quality rotomoulded products and within that, we are working on becoming the first choice for 40 Business Goa
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customers who need customised technical products. This entire learning experience was recently highlighted once again at the recently concluded AIMA-GMA “shaping young minds” program. First it was the humble Dabbawala whose earthy wisdom actually predates Porter and the famed “core competency” theory. After they finished their simple but highly impactful presentation that focused on customer satisfaction, a question was asked – since you are at the six sigma level of customer satisfaction delivering lunchboxes day in and day out, why do you not consider expanding to other cities or diversify into courier services. Their answer was simple, but illustrates the point very well. Yes, when in Delhi they did do a survey but concluded quickly that the cosmopolitan nature of Mumbai ensures that the different cultures (meaning eating preferences) would not be satisfied with standard canteen fare as was the case in Delhi. In Delhi, the population
was more homogenous. Secondly, the city did not have the geographical advantage of Mumbai; developed along a line. Delhi has developed in a circular manner. They decided to avoid any expansion outside Mumbai. As far as diversifying to courier service as a brand extension, it was dismissed immediately. They deliver dabbas well, let us not do anything which will affect the quality of this service. In other words stick to the knitting. The next session with Rajiv Bajaj was similar. When discussing business risk, he agreed that every business had a risk. The risk factor is addressed by doing what the company knows best. Imagine drinking Lufthansa beer or flying Heineken Airlines. Lufthansa is known for its flying ability, and Heineken for it beer. As long as they stick to that business, they have a view of the risks and how to address them. We know the famous story about beer deciding to fly – Kingfisher Airlines crashed. Of course, it is easier to risk other people’s money than your own. Kingfisher is not the
best example because it is a case of blowing up or risking public money. Generally entrepreneurs do not have the luxury of using other people’s money to realise their dreams; even if they are bad dreams. The key message remains: CORE COMPETENCY is very important. A word of caution. This does not mean that a company cannot diversify. It means that if one wants to diversify or start a new venture, they would have to consider the risks afresh and not assume that because one venture is successful, the new one will automatically enjoy the same level of acceptance or success. The “pin to aviation conglomerate”, house of TATA’s is a good example of diversifying the right way. The humble Dabbawalas are much talked about without them ever reading Michael Porter. I wish that some of our very learned businessmen read Michael Porter or better still, travel one day in a Mumbai local to learn CORE COMPETENCY the practical way from the Dabbawalas
LETTER FROM AMERICA
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned
Government Shutdown and the Debt Ceiling
The writer talks about the reasons behind the US Shutdown and possible solutions
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
T
he US government had to shut down on October 1 and 800,000 ‘nonessential’ federal workers were furloughed. Why did this happen and what does it mean? Have you ever heard of any other government shutting down? Has this ever happened before in the United States? Let me give you a primer on how things work here. The President of the United States delivers the annual budget to Congress. Both Houses review the proposal, and develop budget resolutions of their own. The resolutions are “marked up” in the appropriations subcommittees. The House and Senate vote on the final versions of their respective bills, and go to a conference committee to hammer out their differences; at which point the reconciled versions go to the floor of each house for a final vote. The President signs the reconciled versions, and the budget becomes law. For over 250 years, this process has worked reasonably smoothly; except for a couple of times when Congress and the Executive could not come to an agreement, and the government had to shut down. The last time
this happened was in 1995 when Bill Clinton was President and the Republican Party had a majority in the House of Representatives. The two sides were able to resolve their differences and the US government was back in ‘business’ in 17 days; without any effect on the US and world financial markets. This time around, the President and the majority in the Senate are from the Democratic Party, while the Republican Party has the majority in the House; no different from 1995. The difference this time is that there is a minority of Republicans, belonging to an extreme right wing faction, that call themselves ‘The Tea Party’- a name based on the ‘The Boston Tea Party’ of 1773 when the Americans had to pay taxes to the British. This minority faction was able to torpedo any discussion on the budget since late April this year. As a temporary measure, Congress allowed the government to function after it agreed to a ‘sequester’; a cutback on government expenses across the board. In spite of this reduction of expenses, the government was slowly running out of money and the Treasury exercised their power of using extraordinary funds to continue operations. As there was no resolution to solving the budget issues, the government was forced to shut down. At the time of writing this piece, there does not appear to be any resolution. Now comes an additional twist of the ‘debt ceiling’. The present debt ceiling approved by both houses of Congress is $16.7 trillion. This allows the government to borrow money using Treasury Bonds and continue to pay its bills. The government announced that the debt ceiling would be reached on October 17th, at which time the US government would default on its obligations to pay interest to Bond holders. In addition,
they would stop paying social security, Medicare and Medicaid benefits, or for that matter incur any expenses that have already been authorized by Congress; the legislative branch that had authorized the executive branch to spend the money and incur expenses in the first place. The revenues generated by the government are not enough to pay all its bills. The Republican Party in the House will not allow the government to incur expenses that it had authorized unless the President agrees to defund the Affordable Care Act (ACA) which was passed by the present Houses, President Obama’s signature legislation, similar to President Roosevelt’s New Deal, and President Johnson’s ‘Great Society’, and also agree to reduce future expenses. The President has given a proposal to reduce future expenses but at the same time increase revenue though higher taxes on the extremely wealthy. The House, pressurized by the minority Tea Party faction, will not allow any increase in taxes on the wealthy, and the ACA has to be defunded. At the same time they want entitlements and benefits on the poor and middle class to be reduced or eliminated. Paul Krugman, quoting a senior Treasury official mentions, “Bills, including those for interest due on federal debt, would be paid in the order received, as cash became available. Since the bills coming in each day would exceed cash receipts, this would mean falling further and further behind. This could create an immediate financial crisis, because U.S. debt – heretofore considered the ultimate safe asset – would be reclassified as an asset in default; possibly forcing financial institutions to sell off their U.S. bonds and seek other forms of collateral.” Krugman goes on to say, “And it wouldn’t end there. As the U.S. economy goes into recession,
tax receipts would fall sharply. The government, unable to borrow, would be forced into a second round of spending cuts, worsening the economic downturn, reducing receipts even more, and so on.” Are we facing the prospect of financial turmoil around the world – not just in the United States? What are the options and which one will get approved? The one that president Obama favors is to a) get the government functioning again, b) find ways to increase revenue, and c) reduce future expenses that do not jeopardize the poor. Another approach is to find a way to increase the debt ceiling for a reasonable period of time and begin negotiations between the Republicans and the Democrats in both Houses of Congress by: prioritizing bill payments, paying bond holders first and others as and when the money comes in. This means that the US Government would technically be in default. If none of these work, then many economists and constitutional lawyers have suggested that President Obama use the provision in Amendment 14, Section 4 adopted in 1868 which states, “The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.” This has never been tested in the last 235 years. The Congress could impeach the sitting President, or the law could be tested in the US Supreme Court. All this could take years! Let us hope that the debt ceiling and government shutdown is resolved to the satisfaction of the majority in Congress (as they are elected by the majority of the people). We, in the United States and all of us around the world would rather not find out what happens if the debt ceiling is reached and there is no resolution NOVEMBER 2013
Business Goa 41
PEOPLE TREE
In our pursuit of academic excellence we get entangled into giving instructions which can only produce “Slaves”. It is high time we reinvent educational institutes; organizations become seat of creativity pursuits, enabling EACH one to be ONE
Academic inflation and creative literacy
The author analyzes the flaws in our education system and offers his suggestions for change
Kishore Shah The Writer is a organizational development and talent analytics consultant. He is also the founder sponsor of Goa CSR awards shahkishorem@gmail.com
I
n today’s competitive world, we all somehow fall into the trap of the “Number game” which may lead to physical comforts and materialistic acquisitions but is complimented with a work life imbalance in tow, causing stress and psychosomatic illnesses. Whether it is at industry level or business, almost each one wants to be number 1 and the worst part is that they may try to do so by hook or by crook. If we track the roots, this may start with our unrealistic aspirations which generally are further fuelled through the educational journey, scaling it to an epidemic level. When we enter into organizations also, the success framework is paranoid with numbers! Just walk around and you will find almost everybody seems to be speaking about numbers and numeric comparisons. A glance through the merit list or admission list to an educational institution, to read about academic achievements, will scare you by the amount of crowding in every percentage among those crossing 95% and above. 97.01%, 97.02 %, the margin is so narrow. A difference 42 Business Goa
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of 1 mark and the rank may fall or rise 10 rungs. Isn’t this a form of inflation, to be precise, what I perceive as “Academic Inflation”. All of us tend to contribute to this inflation. Fuelled by insecurities, commercial competitiveness, mismatched aspirations, illogical comparisons, ignorance, maintenance of so called standard, all groups, tutors, parents, and educationists are consciously pushing their children to run the academic track. One should remember that though there is a very small “Success stage “ to accommodate achievers, there seems to be space galore in the cemetery where dreams are easily buried and no one ever cares about the uniqueness the child brought which gets lost, devalued and systematically destroyed in this so called “Academic inflation” Though the intentions of all groups may be noble, we get easily swayed in “Social consensus” or “herd mentality” Looking back at my education through the 70s and 80s era, then and now, nothing seems to have changed except that the syllabus has become voluminous and even today the entire curriculum of educational institutes, seems to pave the way and is prioritized towards ensuring supply to industries. Subjects like science, mathematics are always on top and you will have regular periods in the school time table. Are we becoming head strong and heart weak entities? Art, physical education are on the lower rung and they somehow find space much below with 2 to 3 periods in a week. If the portion needs more time for completion, the first periods to be gobbled up are PE periods. Look at the increasing levels of obesity among children. They cannot even hop properly! Their motor coordination and reflexes
have a long way to go. Fitness is now an issue at school level! Not quite shocking as we tend to treat our bodies like a transport system, to carry the head around, everyday to and from, to schools and offices. When nature allows every unique species to blossom and has enough capacity to nurture them, we are doing exactly the reverse! Why do we focus on commoditizing our children, with efforts knowingly or unknowingly towards mass production? Very few parents or educational institutes seem to develop systems to allow the uniqueness to be expressed. Can a time table be devised with a holistic focus on physical, mental, social and spiritual sensitization and development? Each child is unique and has his or her own strengths and weaknesses. Instead of cribbing on the weaknesses and pushing them towards things they dislike, the child should be encouraged to nurture their strengths and utilize them in the field that they are passionate about. Be it art, sport or science. The point is though under pressure they may stretch themselves to their maximum, crack exams, clinch very high percentages and even manage to get lucrative jobs, they tend to carry the resentment of not following their heart with them and turn out to be future liabilities in the industry like square pegs in round holes. Somewhere down the line they breakdown or
pass on their frustration to their juniors, colleagues, spouses or children. We need more and more ways to enable children / student to explore and enrich themselves. They are smart enough to locate the resonance and relate to their DNA. Once this is done, their career journey will be more joyful and then the hardships will not be burden. Why adversity should be the only trigger for change, we have a “RIGHT” brain which looks like, we have left behind somewhere in our academic inflation. Current academics can in no way help our children to face the future joyfully. In addition to life skills, it needs an equal blending of creative literacy that’s how innovation and evolution takes place. Instead of just transmitting information, loading it in the brains and regurgitation at exams, can thinking be encouraged instead of being made to shut up and fall in line? In our pursuit of academic excellence, we get entangled into giving instructions which can only produce “Slaves”. It is high time we reinvent educational institutes, organizations become seats of creative pursuits, enabling EACH one to be ONE. Can creativity be extended to our thought process and not be just restricted to drawing boards? It’s time creative literacy is measured and the rating is on holistic performance and not just academic inflation!
good company
If you wish to solely control your business, limiting your liability to your subscription, enjoying a perpetual succession, and demanding a high trust of the public on your business organization; go ahead and set up a “One Person Company”
Setting up “One Person Company” under the new Company Law The writer talks about ‘One Person Company’ and its salient features
Swatee Rane The Columnist is a Practising Chartered Accountant and Member of Institute of Company Secretaries of India caswateerane@yahoo.co.in
A
Company is essentially an association of persons coming together to carry on business to earn profits. The previous Companies Act of 1956, required at least two subscribers to subscribe to the capital of a company. As against this, the new corporate law, which has been enacted on 29th August 2013 (awaiting the President’s assent), permits even a single shareholder to set up a corporate entity. “OPC”, a One Person Company, (which may be set up by a single subscriber and may have a single Director on the Board), has been introduced under the new Companies Act, 2013. To incorporate a One Person Company, a single shareholder has to first get the name of the company approved by the Registrar of Companies. Then, he has to electronically file the Memorandum and Articles of Association, and relevant documents on the MCA portal, and make e-payment of the requisite ROC fees. After the necessary vetting of documents by Registrar of Companies, the incorporation certificate shall be issued by the Registrar. The company law in most of the advanced countries such as the US, UK, China and Australia,
allow the incorporation of one person companies. Most of these one-person enterprises are start-up or sideline businesses. Entrepreneurs such as beauticians, contractors and real-estate agents, or employees who conduct online businesses at nights and on weekends, set up “One Person Companies”. These companies enjoy a separate tax structure which is more efficient than the tax structure of individuals and other corporate entities. The tax benefits enjoyed by the OPCs in these countries are the main motivators for individuals to set up such companies. In India, there is still no separate tax structure for the newly introduced One Person Companies. Hence, the corporate tax rate of 30 % ( basic rate) shall be applicable to these companies. Minimum Alternate Tax at the rate of 18.50% (basic rate) on book profits shall be applicable when the book profits of the company are higher than the taxable income. Additionally, Dividend Distribution Tax of 15% (basic rate) has to be paid by these companies, on the dividend distributed to the shareholders. Against this, for a proprietor, the tax works out to a much lower amount; since the tax is applicable on prescribed rates on slabs of income exceeding Rs. 2 lakhs. For an individual, there is no Minimum Alternate Tax and no tax levied on profits withdrawn for personal use. Hence there appears to be a major tax disparity between the “Sole proprietors” and the “One Person Companies” in India. To ease the tax burden on the OPCs, the Finance Minister may allow some tax concessions for such entities in this year’s Finance Bill. Till this happens, forming a One Person Company may not be an attractive proposition considering the tax perspective. Nevertheless, there are
To incorporate a One Person Company, a single shareholder, has to first get the name of the company approved by the Registrar of Companies some motivating factors of the new legislation, which may still induce the Indian entrepreneurs to set up such entities. Let’s study the case of Amol Jain, who provides financial advisory services to the SME sector and operates from home. His business is a proprietary concern, with no employees and no separate office premises. His bankers, know him personally and he solely manages all the affairs of his business. Why would Amol then want to incorporate as a One Person Company, under the new company law? Limited Liability: What happens if Amol runs into losses and cannot pay his creditors? As a sole proprietor, Amol’s creditors shall have access to his personal assets to recover their dues. This wouldn’t be so, if Amol had incorporated an OPC. His liability would remain limited to his contribution to the unpaid subscription money in his name and his personal assets would be in no danger of being attached. Automatic Perpetual Succession: In the case of a One Person Company, Amol can designate his son, daughter, wife, or even a friend to become a member of the company and be responsible for the running of the company in the event of his death. However, if he opts to run a proprietary concern, the succession is possible only through a will, which again may be challenged
in a court of law. Higher Trust factor: Amol’s business suppliers, clients and bankers will place more trust in Amol’s “One Person Company”. The higher trust factor shall be enjoyed by his OPC, because of its “distinct legal entity”, its perpetual succession which is not terminated by Amol’s death; and the requirement of mandatory filing of the audited accounts with the Registrar of Companies. Mandatory Audit of Accounts: In case Amol chooses to remain a proprietor, he needs to get his accounts audited under the Income Tax law if his sales in the year, cross one crore rupees. But as an OPC, Amol’s company has to mandatorily get its accounts audited under the company law, irrespective of the business it makes in the year. Having set up an OPC, Amol is assured of systematic maintenance of accounting records and its annual verification. However, unlike other corporate entities, his OPC shall be exempt from holding a Annual General Meeting every year. So, if you an entrepreneur and you wish to solely control your business, limiting your liability to your subscription, enjoying a perpetual succession, and demanding a high trust of the public on your business organization; go ahead and set up a “One Person Company” NOVEMBER 2013
Business Goa 43
HR MANTRAS
Hard work is not merely about physical energy. It is also about adrenalin and emotional energy. These are essential ingredients to keep any individual or team going
Work Hard for Success
Success is a function of hard work. The harder you work, the greater your contribution will be
The harder I practice the luckier I become tiger woods golfer
I practice one hundred times to be good while others only practice ten times luciano Pavarotti opera Singer
The Business Step Discuss with your team what hard work means in practice. Encourage them to define it and apply it. The Business Point The harder the competition, the harder the work to be done
U
nless you feel tired at the end of the working day, you have not been working effectively. When you feel tired is the time to stop-but that does not mean that feeling tired is bad or wrong. The trap is to take it easy and avoid the difficult stuff that saps energy. Any success in life-whether completing a marathon, winning a competition, or even writing a book-requires hard work. It means applying concentrated doses of energy to accomplish each intermediate step of the plan as well as to cope with the unplanned. Team leaders who do business have learnt that lesson 44 Business Goa
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and developed a hard-working style. They are so committed and passionate about what they do that they are prepared to put a considerable amount of effort hour by hour and day by day into achieving the desired results. They know that the harder they personally work and the harder the team works, the greater the probability of success in relation to the competition. When in hard work mode they resist any amusing diversions and distractions in order to focus their energies on the desired end result that day, whether it means speaking to 50 customers, meeting 50 employees, or making 50 telephone calls. On rare occasions this means putting in long hours, starting early, finishing late, and working through lunch. But not on every occasion, because that is dangerous. Working hard is not synonymous with long hours. Nor is it synonymous with being a workaholic who never stops. It means putting effort into the time that you are on the job. It is easy to motivate people to work
Any success in life - whether completing a marathon, winning a competition, or even writing a book - requires hard work hard. They just have to have a good reason for doing so-and the boss’s task is to ensure that this reason (the cause) is effectively communicated, is understood, and is subscribed to with a high degree of passion and commitment. Furthermore, people need to enjoy what they are doing. Team members are more likely to work hard when they are having fun doing so and can see more tangible results from their efforts. Hard work is not merely about physical energy. It is also about adrenalin and emotional energy. These are essential ingredients to keep any individual or team going. The will to work hard emanates from the heart, not the mind. Logic will always
step in and say “don’t work as hard” and at times it is right to apply this logic. However, what powers people on and on and on is the adrenalin and the emotional drives asserting that this objective is so important to us that we must devote all our available energies to achieving it. When it comes to improvement, working hard means practice and practice and practice. That is hard work-but it is what the superstars do. Opera singer Pavarotti once said, “I practice one hundred times to be good while others only practice ten times.” Golfer Tiger Woods commented, “The harder I practice the luckier I become.” The more you work hard at practicing and improving what you do, the greater success you will have. Hard Work involves sacrifice. It means going without the easier and more pleasurable things while concentrating your energies on attaining the desired result. The pleasure can come later when you work
what’s up goa Wendell Rodricks launches Gel Bathing Bars for Fiama di Wills Wendell Rodricks’ the Source of Youth collection inspired from his travels to the heart of humanity: Africa. Using a cool, fresh palette, the Source of Youth collection for FIAMA Di Wills show on the 4thday at Wills Lifestyle India Fashion Week, Spring Summer 2014, perfectly highlights the designer theme and the new designer signature bathing gel bar series of FIAMA. The youthful look of the pack designed by Wendell Rodricks ties in splendidly with the collection on ramp. Whites, reds, blues and yellow are highlighted with shimmering gold and black. All colours used in the wrapper! Beyond the theme of the collection is a refined, restrained statement of elegant and youthful ensembles. An Africa that is very different from what is the conceived perception. Here is a new continent fresh
with the promise of youth. Fabric has been textured to look handcrafted and shimmering. The accessories are handcrafted with floral and leaf forms akin to the oats, nut grass and water lily flavours of Fiama. Fashion
Gera Developments launch Gera’s Imperium Green, the next generation green building in Goa Gera Developments, one of the pioneers of the real estate industry and the creators of premium residential and commercial projects in Pune and Goa, announced the launch of Gera’s Imperium Green, the next generation green building of Goa. Located in Mala in Panjim, Gera’s Imperium Green, is Goa’s first commercial property that is powered by Greentelligence and utilizes numerous green parameters of an eco-friendly building. Rohit Gera, Managing Director, Gera Developments speaking at the launch said, “As a responsible real estate developer, the onus is on us to develop properties that are environment-friendly and do not drain the city’s infrastructure and resources. Gera’s Imperium Green is a testament of our commitment to environmentally sensitive development in Goa. We hope that this is the first of many such buildings in Goa, as we believe that the Goan consumer is amongst the most environmentally aware, amongst
property buyers across the country. We hope that property buyers start demanding green features where ever they choose to purchase.” Gera’s Imperium Green will be equipped with its own separate water treatment and sewage treatment plant as well as use fixtures so as to reduce its water requirement from Panjim city by 75%.The building will provide 128% of the requirement with 82 spaces. The objective is to ensure that the owners/occupants use the 64 basement spaces, while visitors have adequate off street parking, thereby reducing the congestion on the streets. Gera’s Imperium Green will have 58 office spaces, exclusively designed for customers looking at sophisticated and streamlined work environments for their office or business. The building’s elegant facade, its strategic location with street facing shop spaces, coupled with the excellent civic infrastructure and great connectivity makes it the perfect business and professional destination in Goa
Designer Masaba Gupta walked the ramp as show stopper. “This time we have used mainly linens and silks, but have brought in the hand quality via a suite of six creative crochet pieces. These are done with a total twist on a crochet technique. The other handwork of importance is the exquisite copper wire and bead accessories that were made by Nadia Dajani (American actress) in Jordan,” the designer said. Applauding the collection from the front row were ambassadors of Portugal, Australia, socialites Nina Gupta, Jaya Jaitley, Shahnaz Husain and fashionistas from the media and fashion elite of the industry. Apart from the “unusual showstopper”, there was also the live performance of African troupe “Shadow Acrobats” from Tanzania
Italian Ambassador visits GIM The Ambassador of Italy to India Daniele Mancini visited the Goa Institute of Management, Sanquelim campus recently and addressed the students in an interactive session as part of his efforts to explore the niches and trending sectors in Goa to strengthen bilateral relations between India and Italy. In his address to the students, he spoke of the need for the students as future leaders to take nothing for granted and to think strategically in a broader scale to create solutions for the rapidly changing world. Exhorting the students of GIM to take charge by considering the fact that “nothing exists that cannot be undone or redone in a different fashion”, the Italian ambassador stated that it is time to ride the megatrends and recognize the game-changers
Oktoberfest Goa 2013 ends on a high note!
One of the biggest home grown music festivals Oktoberfest Goa 2013 held recently was an affair to remember. The three day, high octane music festival featured some of the best DJs performing live from across the country and abroad. Gracing the festival were popular Dutch heartthrob Marco V on Day one. This year, Marco V also created the official Oktoberfest Goa anthem that had everyone grooving to the tune. Day two and three saw a huge gathering of EDM fans that came in for Yves V, Marcel Woods and Roger Sanchez. The impressive line-up of artists from India included the unconventional Ma Faiza, Clement, Priyanjana, Sanjay Datta, Goa’s very own Ajit Pai, Rinton, Ketan and Ryan Britto among others. The festival was organized by Goa based event management agency
Bullseye Entertainment. Festival Director, Munna Ruknuddin said, “to see so many happy smiling faces gives me the zeal to work right away on the next edition. This year the response we got from across all walks of life has been tremendous”. Built to recreate the original Oktoberfest ambience, the festival included wooden seating, appropriate attire, tasty bites of German cuisine and music on the console. Besides bringing in the German element for the fest, live acts by the fire performers along with a tempting range of delicacies from Goa complemented the electrifying set of music played by the artists. With some of the biggest international names in electronic dance music performing, the third edition of the music festival was bigger and better NOVEMBER 2013
Business Goa 45
what’s up goa
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Marriott International in association with SAMHI Hotels Pvt. Ltd. introduces Fairfield brand to Asia
Goan delegation promotes tourism in Israel
Marriott International, Inc in association with SAMHI Hotels Pvt Ltd expanded its brand offering in Asia with the opening of its first Fairfield by Marriott hotel in Bengaluru, India. Talking at the opening, Don Cleary, Marriott International’s COO in Asia said: “The timing is right and the market is primed for a brand like Fairfield. The brand has a long history in service and offers innovative design at an affordable prices across the region.” Commenting on the occasion, Ashish Jakhanwala, Managing Director & Chief Executive Officer, SAMHI Hotels Pvt. Ltd., “SAMHI is pleased to open the first Fairfield by Marriott
A twenty member delegation led by Deputy Chief Minister of Goa, Francis D’Souza, along with Minister of Tourism, Dilip Parulekar met the Tourism Minister of Israel, Uzi Landau recently to promote Goa Tourism. Landau said that he would like to build a very healthy relationship between India and Israel. He added that he would take special measures to promote Goa in Israel and will appoint a nodal officer from his ministry to be a contact person for Goa Tourism. Francis Braganca who led the hospitality players in this 20-member delegation made the presentation and mooted that idea that special packages for the benefit of tourists can be worked out, especially for those who are interested in religious tourism. The visit of the Goan contingent to Israel promises a healthy bi-lateral trade
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in Asia. Fairfield development is an integral part of SAMHI’s strategy as it allows us to capture the fastest growing market segments. We are confident that the combination of a winning product, power of the brand and Marriott’s operating capabilities will establish Fairfield by Marriott as a preferred choice for consumers in India.” We believe that this is exactly the right product for India and the rest of Asia. Fairfield
fills a much-needed gap in the moderate tier with its fresh, contemporary design, service excellence, and quality that comes from being a part of Marriott International,” explained Don Cleary. The Fairfield Bengaluru Rajajinagar in South India offers 148-rooms and Kava, a three-meal-a-day restaurant which will serve authentic Indian cuisine along with Western menu options, featuring both buffet and à la carte options. In addition, the hotel has a functional lobby with a bar lounge and 24/7 Market for drinks and snacks; ample banquet and meeting room space with modern technology, a wellequipped business centre as well as a fitness center and a rooftop pool
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This Diwali get a Tanishq pendant free with Titan’s Nebula watches
Sparkle in your best and celebrate this Diwali with Nebula–18 carat solid gold watches from Titan, which has launched a festive offering for men and women that epitomizes the true characteristics of royalty and Indian celebrations. Drawing its inspiration from traditional celebrations, the men’s timepiece possesses a pave diamond setting on the dial which is perfect for festive dressing. The women’s timepiece is delicately crafted in a tear-shaped gold case enhanced with white enamel and a pearl-adorned bracelet. These are the perfect accessories for this season of festivities and celebrations.
Nebula is an exclusive collection of 18k solid gold jewellery watches from Titan Company Ltd. which is also the perfect means of investment and adornment at this time of the year. To keep the festive spirits high, Nebula is offering its customers a free Tanishq pendant with every purchase. Customers can get a gold pendant on purchase of a Nebula watch priced below Rs. 70,000 and a diamond-studded pendant on purchases above Rs. 70,000. The festive offer is valid up to November 10th and can be availed at all World of Titan and Helios stores across India
British Business Group and GCCI enter into an MoU The British Business Group and Goa Chamber of Commerce and Industries (GCCI) signed a Mou recently for the recognition of Goa as a commercial viability for business and to consider Goa as an option for the same, with increased support of UKIBC/UKTI which was also agreed that the MoU would give them credibility in the promotion of Goa. The Mou was signed by Berryl Nasse of BBG and Narayan Bandekar of GCCI in the presence of Peter Pinto, Vice President of BBG, Ben Aldred, First Secretary, UK Trade & Investment and Kumar Pillai, CEO of Oriyon Moulding and other important dignitaries. BBG Groups will play an active role within this arena offering support and guidance to businesses looking to enter their particular state. This service is also available to Indian companies looking to invest in the UK market. Berryl Nasse said, “I will be working harder
to bring Goa on the forefront. While Ben Aldred supported her thoughts by saying, “The UKTI will support VIP dignitaries’ visit to Goa if a strong proposal is put together which will encourage ministers from the UK to see the opportunities available here,” Peter Pinto, Vice President of BGG said, “MOU between GCCI and BBG is a new chapter of opportunities. Especially for Goans by providing them employment,” Pinto added. Whereas Narayan Bandekar, President of GCCI said, “I will try to arrange an interaction between BBG and young entrepreneurs of Goa.” Berryl Nasse, the secretary of BBG concluded, “The MOU is a much needed boost to our aims” NOVEMBER 2013
Business Goa 47
milestone
Immensely popular in business circles, Vishwasrao Dempo has served as the Founder President of Goa Management Association (GMA)
Vishwasrao Dempo turns 70
S
oiru (Vishwasrao) Vaikunthrao Dempo, the patriarchal figure of the Dempo family celebrated his 70th Birthday, an undoubted milestone of great significance in the life of the person himself, but more so, of significance to his family, friends and those who hold him dear. Born into the illustrious Dempo family, Vishwasrao is blessed to have the presence of his mother, Savitri Vaikunthrao Dempo to this day in his life. Vishwasrao joined the family business group in capacity of a Director and made invaluable contributions, not only to the mining business in Bicholim, but to the other companies set up consequent to diversification of family’s business interests. Immensely popular in business circles, he was the
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Founder President of The Goa Management Association (GMA) To this day Vishwasrao pays tribute and homage to the memory of his late father, Vaikunthrao Shrinivas Sinai Dempo by commemorating his birth anniversary on February 9 each year, by supporting the organization of mega medical camps to provide medical
services to the underprivileged and the needy. Vishwasrao is well known as trustee of the Dempo Charities Trust, which manages and supports five educational institutions providing learning in arts, science and commerce in the State Of Goa. Keen to protect and preserve the cultural roots of Goa, of which
the colonial influence has become an integral and inseparable part, Vishwasrao has recently mooted the idea of awarding scholarships to the students of the Portuguese language. Deeply religious, Vishwasrao is guided in all his actions by the family deity Shri Laxminarayan Mahamaya (Ankola) and His Holiness Shrimad Vidyadhiraj Tirth Shripad Vader Swamiji of Shri Samsthan Gokarn Partagali Jeevottam Math and attributes all his achievements and success to the Divine blessings on his family and himself. The gentle, congenial and pleasant Vishwasrao is wished abundant blessings from the Almighty as he celebrates this momentous occasion amidst adulating loved ones, wellwishers and those who have been recipients of the largesse of this illustrious son of the Dempo family by Dr. Radhika S. Nayak
BON APPÉTIT
THE CURRY LEAF at hotel calangute towers
The Great Indian Curry Trick ALISHA PATEL heads to The Curry Leaf for an authentic Indian afternoon
Mutton Achari and Green Pea Pulao
Warmly lit interiors at the Backyard The Curry Leaf
Kurkure Kebabs
I
deally located at the start of Calangute’s bustling line up of restaurants and tourist shops opposite the Dr. Jack Sequeira Junction, The Curry Leaf at Calangute Towers is a place that you cannot afford to miss out on. If you haven’t visited already, you’re sure to be missing out on an array of scrumptious Indian cuisine that befits royalty. From the famed seafood from the backwaters of Kerala, to the rich Mughlai fare synonymous with North Indian tradition, The Curry Leaf has it all. “What’s special about our restaurant is that we serve Indian cuisine with a twist, as well as a wide range 50 Business Goa
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of Continental dishes,” says executive chef Saket Sharma. He reveals that the cooking is a reflection of the varied tastes of their customers. He declares, “Customer deight is our topmost priority.” After a brief glance at the menu, and the wide array
At the Curry Leaf, we not only serve Indian cuisine with a twist, we also offer a range of Continental dishes Saket Sharma Chef
of dishes available to us, we decided to stick with Saket’s advice and sample an Indian lunch. Try the Kurkure Kebabs,” suggested the Chef, informing us that it was one of their signature dishes; having been uniquely created by the executive chef himself. We also accompanied these with an order of Reshmi Kebabs, which set us off on our Mughlai journey. The Kurkure Kebabs were crisp on the outside and contained a surprisingly creamy texture on the inside. The chickpea filling contained a slight hint of peanut which was a refreshingly unusual surprise to our palates. We expected the Reshmi Kebabs to be like any other that we had tasted, in comparison to their Kurkure counterparts. These, however,
dispelled all preconceived notions that we might have held about the Reshmi Kebab. The dish comprised perfect portions of succulent chicken, coated with a magnificent yoghurt cream and a subtle, yet generous blend of spices. Our appetites, now thoroughly whetted, with two fantastic starters; we could barely contain our eagerness for the main course. Keeping in line with the authentic Indian fare that The Curry House had to offer, we kept it simple and ordered a serving of Mutton Achari to accompany a green-pea pulao. Bursting with spicy flavours, the mutton was cooked to perfection and is highly recommended to anyone looking to lavishly indulge themselves. It perfectly complimented the pulao, transporting us out of the scorching Goan sun and into a bygone Mughal era of bountiful extravagance. For those with a sweet tooth, Calangute Towers offers a wide selection of premium sugar-laden goodies including Tiramisu and other internationally acclaimed desserts. The restaurant regularly hosts a wide variety of food festivals to rope in crowds as well as having regular live music, every night. As Saket wisely advises us, “sit back, relax and let us do all the worrying”
GOABUZZ
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The Entrepreneur’s Notepad hosted by Goa Chamber of Commerce & Industry. Anjan Chatterjee and Dr. Apurva Shah enthral the audience Pics : Tejal Mahambre
SPED (SME Promotion & Entrepreneurship Development) Cell of GCCI recently organized The Entrepreneur’s Notepad. This unique think fest held exclusively for entrepreneurs and business leaders, witnessed two of India’s most renowned leaders in the franchise driven retail expansion in Health Care and Restaurant business. Anjan Chaterjee of the famed Mainland China Speciality Restaurants Ltd and Dr Apoorva Shah of RichFeel Hair Care shared a first time insight into their incredible journey as part of India’s billion dollar retail revolution. They shared their journeys from mere start ups to listing/global private equity in the last decade. The event focused on an entrepreneur’s inimitable ingenuity, skills and strategy to scale up and build a world class enterprise and was well attended by entrepreneurs from all walks of life. The event was conceptualised by CA Gautam Verlekar, Chairman of SPED Committee of GCCI Dr Apoorva Shah and Dr Sonal Shah
Anjan Chatterjee
Nana Bandekar
Atul Pai Kane
Chirag Naik
Sandip Bhandare
Maria Francisca Vaz
Shekhar Sardessai
Manguirish Kunde
Joseph D’Souza
Sudhir Jade
Harshvardhan Bhatkuly
Gautam Verlekar
Deepak Bandekar
Christabel Srivastava
Ramakant Kamat
Milind Prabhu
Satish Shinde
Rajesh Sheth
Asha Arondekar
Tomoko Lobo
Manguirish Salelkar
Vibhav Dempo
P K Mukherjee
Shaunaq Naik
Vikram Verlekar
Sanat Raiturkar
Harin Bhonsle
Prasad Sirsat
Sunil Shrivastava
Manish Gosalia
Michael Lobo Manoj Caculo NOVEMBER 2013
Business Goa 51
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Goa Management Association (GMA) held its Annual General Meeting recently. The meeting was followed by the Annual Day function. Dilip Chenoy, Managing Director and CEO, National Skill Development Corporation (NSDC), New Delhi, was the Chief Guest of the Annual Day function and delivered the keynote address on the topic “Opportunities for Skill Management”. After the annual lecture, GMA conferred the 2013 annual management awards to the winners. In order to promote and recognize managerial talent, GMA has constituted Management Awards, which are given in four categories – Best Manager, Best Young Manager, Best Management Student (Post Graduate level) and Best Management Student (Graduate level). Ashok Chowgule, President, GMA, presided over the annual general meeting and the annual day function. R Krishnagopal, Chairman, GMA and the Executive Committee presented a report on activities conducted during the period 2012-13. Ashok Chowgule was unanimously re-elected as President of GMA for another term
Rajiv Nevgi
Dr. Debashish Patnaik
R. Krishnagopal
Dr. Dhillon Desai
Dr. Pradeep Salgaocar
Sonia Angle
Atreya Sawant
Atul Jadhav
V.B. Prabhu Verlekar
Francisco Lume Pereira
Ghanashyam Halkar
D. Kumar Pillai
Ashok Chowgule
Dr. Sunil Rai
Dilip Chenoy
Vivekanand Phaldessai
Priyanka Prabhu
Lalit Saraswat
Sanjeev Kamat
Anant Prabhu
D. S. Prashant
Amin Ladak
Yogesh Arora
Nitin Kantak
Saish Lawande
Anthony Fernandes
B.T. Boke
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PANAJI GOA VOL 5 ISSUE 5
NOVEMBER 2013
KASHINATH DAMODAR NAIK GROUP
In Search of New Frontiers
Datta Damodar Naik and son Chirag carry the legacy of the KD Naik Group established in 1931. Forward looking in business ideas, the Group today, is growing in the food retail and housing business
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Chirag Naik
Director, KDN Group
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Datta Damodar Naik
MD, KDN Group
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52 Business Goa
ANJAN CHATTERJEE
NOVEMBER 2013
Speaks at The Entrepreneur’s Notepad
SHRINIVAS DEMPO
Sworn in as Vice Consul of Italy in Goa 53
News Views Articles Interviews Profiles Focus Analysis Opinions Events Features
Pics : Tejal Mahambre
Goa Management Association holds Annual General Meeting and prize distribution. Ashok Chowgule re-elected President
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Shrinivas Dempo installed as Honorary Vice Consul of Italy Strengthening ties between Italy and Goa, the crème de la crème of Goan society came together for the installation ceremony of Shrinivas Dempo as Honorary Vice Consul of Italy in Goa. Daniele Mancini, Italian ambassador to India praised Goa for its charm and warmth and stated that that was what made Goa attractive to tourists. Chief Minister Manohar Parrikar said there were tremendous opportunities rising from Goa’s ties with Italy. While speaking at the event, Shrinivas Dempo said that Goa would seek expertise from Italy in areas such as heritage conservation
Cecilia Menezes and Meghna Caculo
Daniele Mancini
Manohar Parrikar
Mohandas Naik
Victor Albuquerque
Dr. Satish Shetye
Antonio Sabido Costa
Ugo Ciarlatani
Dilip Parulekar
Dr. Subodh Kerkar
Sarvesh Timblo
Mauvin Godinho
Wilfred D’Souza
Varun Albuquerque
Durga Shetye
Nandan Kudchadkar
Pallavi and Shrinivas Dempo
Sujay and Pankaj Joshi
Wilfred Mesquita
Thomas Menezes
Le Passage to India hosts season opening celebratory evening Le Passage to India, India’s number one Leisure Travel and Destination Management Company recently held its tourist season opening celebration at Goa Marriott Resort. The celebration saw the stalwarts of the Goa tourism industry converge to meet one another and celebrate the start of another successful tourist season. Arjun Sharma, Managing Director, Le passage to India who welcomed the august gathering, forecasted a 30 to 40 percent increase in tourist arrivals in the coming tourist season. With the present exchange rate being favourable for the European traveller, Goa is set to see a larger number of travellers visiting its sunny shores
Babu Quenim
Carlos Almeida
Francis Braganza
Guitry Velho
Arjun Sharma
Stefan Radstrom
Michael Lobo
Ayesha Barreto
Jack Ajit Sukhija
Verner Costa Fria
Atmaram Nadkarni with CM Manohar Parrikar
Savio Messais NOVEMBER 2013
Leanne
Business Goa 53
NEWSMAKERS Rasika Palekar launches Nero Lazy River Grill at Baga-Arpora
Nero Lazy River Grill was recently launched by Partners Rasika Palekar and Chef Gaurish Madgaonkar. The Grill was inaugurated at the hands of MLAs Michael Lobo and Nilesh Cabral. Nero Lazy River Grill is located near the scenic Baga and Arpora river Creek at Mykonos Blu Resort. The menu consists of Indian, Mediterranean, Goan, and Continental fare. “The dishes that leave you licking your fingers would be our Mediterranean cuisine and grills,” says Rasika. She further adds, “The food and ambience stay true to its name, with the best dishes and a relaxed atmosphere to lighten up your mood.” Coming from a family who have been pioneers in the food industry, under the brand name ‘TATO’, we partners have seen the food industry from very close quarters. “Hence I along with my Business Partner, Internationally trained in specialty cuisine Chef Gaurish Madgaonkar, decided to start our own grill,” says Rasika
A. Parulekar, Uday & Nikhil Divekar create world’s largest Agarbatti Three Goan businessmen have earned the distinction of helping create a Guinness World record. Ashok Parulekar, Uday Divekar and Nikhil Divekar from Panaji were part of a team that hand-crafted the world’s largest incense stick, measuring a whopping 31 ft in length and a circumference of 76 cm. The giant incense stick was created in Queens, New York as a tribute to the late meditation guru Chinmoy Ghose, on the guru’s 82nd birth anniversary. It took 13 days to make the incense stick. “We shipped 200 kilograms of raw material for the incense stick-ingredients sourced from Bangalore, Mysore and Goa to New York in 20 cartons. The fragrance chosen was Nag Champa, a combination of sandalwood and the Champa flower,” said Nikhil Divekar, Director of Mandal Bal Goa Pvt. Ltd. The team was led by 58-year old health store manager Ashrita Furman, who holds the Guinness World Record for the highest number of Guinness world records held by a single individual-164 records
Dr. Jennifer Lewis e Kamat among young Indian entrepreneurs mission to Pakistan
Dr Jennifer Lewis e Kamat, Past Chair Yi Goa Chapter and Director, Kamat Infratech Private Limited, is among 25 young entrepreneurs from India who will represent the country at the Commonwealth Asia Alliance of Young Entrepreneurs (CAAYE) India-Pakistan Young Entrepreneurs Summit. The four-day mission between Lahore and Islamabad will be held in Pakistan this month. The Indian delegation will be led by Rahul Mirchandani, Founder President of CAAYE and Past National Chairman, Young Indians (Yi). The CAAYE India-Pakistan Bilateral Mission is a major step in the pursuit of the Alliance’s goal. Dr Jennifer Lewis e Kamat said that the mission is an attempt to develop ties and friendships between the people of the two countries. Young Indians from various parts of the country are joining in to get a first-hand experience and give a cultural connect from their respective Cities/States 54 Business Goa
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Annurag Batra purchases Business World from ABP Group
Annurag Batra of Exchange4Media and Vikram Jhunjhunwala recently purchased ABP Group owned Businessworld. DD Purkayastha, Managing Director, ABP, said, “Both Annurag Batra and Vikram are buying Businessworld”. Sources close to the deal said that that the new owners are bullish on the online potential of the magazine and plan to turn it into a viable business by utilizing the scope available in this space. Batra operates Exchange4media, a businessto-business portal which covers media, advertising and marketing apart from publishing magazines including Impact and Pitch. It has been almost a year since ABP had put the magazine on the block and was looking for buyers. The management had hoped to clinch a deal by end of the year, failing which the magazine would have been shut. Earlier in February the business magazine was turned fortnightly from a weekly. Currently, of the Rs 1,650 crore Indian magazine industry, business magazines constitute Rs 400 crore. Batra is a first generation entrepreneur and contributes his thoughts to Business Goa regularly
Dr. Shweta Caculo launches Smile Avenue Dental Clinic Dr. Shweta Caculo, a consultant prosthodonist and implantologist recently opened her multispeciality dental clinic, Smile Avenue at Caculo House in Panaji. The clinic was inaugurated by Chief Minister Manohar Parrikar. The main objective of the clinic, says Shweta is good service with latest technology and affordable cost. The facilities at the clinic include dental implant, dentures, full mouth rehabilitation, laminates and veneers, periodontal treatments, braces, cleaning and polishing, oral and maxillofacial prostheses, crowns and bridges and extractions. Suhas Caculo and Caculo family members were also present at the event
quiz
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1. ‘The Creation of Wealth’, a book by R M Lala is about which Indian business family? 2. Maheshwari, Tanchoi, Patola and Paithanee are types of what? 3. Howard Schultz is the CEO of which global brand? 4. Which e-Commerce venture was started by Sachin Bansal and Binny Bansal? 5. “Every Story has a Human Side” is the advertising punchline of which TV Channel? 6. Identify the personality
Answers to BG Quiz 52 1.Nissan 2. Stock Broker 3.Ashish Nanda 4.Google Plus 5.Bookmyshow.com 6.Warren Buffett
Email your entries to businessgoa.media@gmail.com First all correct entry will get 1 year’s subscription to Business Goa