Prime Insights Issue October 2020 by Prime Insights

Genesis Risk Mitigation Services (GRMS): Trusted Fraud Management to Make Hiring Process Risk Free Spiritech Company: Reconciling Faith And Technology

NETSTAIRS – Revolutionizing Digital Economy in Real-Time BuildzeeBuildzee’s etermination to redefine the website building process

Amit Jain

Managing Director

Bits & Bytes Integrators Pvt Ltd: A Brand That’s Creating A Paradigm-Shift In India’s Automation Scenario

Editor’s Note Top 20 Companies That’ve Redefined Customer Experience in 2020

he year of 2020 has been a turning point for several small and large businesses. While many of these businesses hovered on the verge of bankruptcy, some of them emerged as market pioneers in their respective industries. There are a few qualities that were common among all successful businesses, like the ability to adapt to market uncertainties, relentless perseverance and the openness to try unconventional business strategies. Among the victors of the year, 20 Companies showed exceptional performance in their financial as well as philanthropic endeavours. One such name is “Bits & Bytes Integrators Pvt. Ltd” (BBIPL). Not only has the brand scaled new financial heights but also helped the nation in creating a safer, more hygienic environment amid the pandemic. BBIPL has become the first developer of the Intel-Based Smart Thermal Detection and Touchless Sanitizer Kiosks, which would be placed at its kiosk offerings throughout the country. The innovation has set a great example for other tech companies, urging them to integrate sanitary measures with automation for the benefit of humanity. Earning a good reputation in any industry calls for both highlighting your customer successes and accepting their criticism in a constructive spirit. The 20 Power Brands mentioned herein have taught us how to strike the fine balance. I’d urge the readers of Prime Insights Magazine to take inspiration from these brands and imbibe their virtues. In doing so, they’ll not only better their professional lives but also create harmony and integrity in their personal frontiers. Wishing all readers a Prosperous end to the year!

Yash Ananad Editor

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CONTENT

Amit Jain

Managing Director Bits & Bytes Integrators Pvt Ltd:

Amey Kulkarni, Director at GRMS

Genesis Risk Mitigation Services (GRMS): Trusted Fraud Management to Make Hiring Process Risk Free

Akshat Jaiswal

Dhruv Vasani

Buildzeeâ&#x20AC;&#x2122;s determination to redefine the website building process

22 6

Chetan Merchant

Rikin Parekh

Shiva Kumar

Ajay Piramal Ajay Piramal’s Success Story- Inspiration for aspiring entrepreneurs facing troubles in their career journey

Top Indian Entrepreneurs who are former Engineers and never went B- School

Spiritech Company: Reconciling Faith And Technology

Ahamad Moradi

What will be CEO’s strategy for meeting divergent demands the new pandemic era?

CEO’s mandatory efforts for empowering next generation of start-ups

Revolutionizing Digital Economy in Real-Time

Wealthiest Business Tycoon with Wealth reaching 10 Trillion

Have a Look over Ten Richest Personalities of India

Untold Story of Success that is going to inspire you

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COVER STORY

Amit Jain

Managing Director

Bits & Bytes Integrators Pvt Ltd:

A Brand That’s Creating A Paradigm-Shift In India’s Automation Scenario

he IT industry in India has flourished substantially in the last decade. The introduction of innovative store-based technologies like self-service and interactive kiosks, AI, and machine learning has changed the way customers view and perceive technology. In the last few years, many leading companies have adopted these advancements for the growth of their business. Bits & Bytes Integrators Pvt Ltd.(BBIPL)is one of India’s leading Kiosk Manufacturer and Solutions Development firms. Based in Delhi, Bits & Bytes was founded in 2003 by a team of highly qualified, passionate professionals. The intent was to introduce advanced solutions for modern business issues through a single-source technology solutions company. The company offers a wide range of kiosks for various applications like- Information Kiosks that cater to the needs of schools, airports, railways, hospitals, etc, Gaming & Entertainment Kiosks that are designed for Cyber Gaming, Malls, Classrooms, etc, Transaction Kiosks for Payments, Finance, Banks and Institutes, and Touch Screen Podiums for PowerPoint, VCR Tapes, 2D/3D charts, overheads, and objects.

Amit Jain

Managing Director

Bits & Bytes: A One-stop-shop for The company strives to design their products in a userfriendly and aesthetically pleasing manner. Its multimediaAdvanced Technology Solutions based touch screen information kiosks, for example, are easy to install and do not require computing skills to operate.

Bits & Bytes specializes in developing high-end requirementbased automation solutions by offering an expansive range of kiosks for numerous industry segments. Regarded as India’s No. 1 Kiosk manufacturer, BBIPL’s comprehensive CUSS (Common-Use Self Service) has proven to be a revolution in its kind for the Aviation Industry. Through CUSS, the Boarding pass, and Baggage Tag printing are automated which deducts the passenger waiting time considerably. BBIPL provides expert guidance to its client at every stage. The company offers a numerous kiosk project services like Kiosk Manufacturing and deployment, A Hot desk support team for client queries, Remote desk monitoring facilities, dedicated support, kiosk maintenance services, Consultation for the client’s unique Kiosk requirements and many more

BBIPL’s Team of Dedicated Professionals

BBIPL has a team of 100+ proficient and passionate professionals and engineers with over 500 man-years worth of experience in the kiosk industry. The highly-efficient team ensures that every client’s doubts on any technologyrelated topic are clarified immediately by providing the staff with direct access to vital information. The staff then offers suitable solutions that best serve the unique needs of every client, e. g. the company’s design and engineering team experiments and tests the latest prototypes for custom kiosks and new products, the on-site office takes care of the

BBIPL has established more than 50,000 kiosk installations in India, including smart city project solutions. The company caters to the unique needs of various industry segments by offering industry-specific solutions, e.g. Large Format display kiosks in the retail industry, RFID & Barcode solutions in the Automobile Industry, etc.

Bits & Bytes’ Solutions To Different Business Verticals

Different business verticals necessitate different ways of approaching their tech-related challenges. Here is the industry-wise breakdown of BBIPL’s various solutions: Transport Industry: The brand provides high-end kiosk solutions like Boarding pass solutions, Self food-ordering kiosks, and Baggage Tag Solutions at numerous International Airports for the Aviation Sector. Manufacturing Plants: For the Automobile and FMCGbased manufacturing plants in the country, the company offers variously advanced Bar Code based solutions, and RFID-based solutions. Banking & NBFC: Kiosk solutions to the Banking Industry and NBFC include services like Cheque Deposit Solutions, Passbook Printing touch Kiosk, Queue Management Solutions, Multi-Functional Kiosks, Cash Deposit solutions, etc.

BBIPL’s Commitment Towards Reducing Carbon Footprint

Bits & Bytes understands the importance of contributing to the needs of the environment. The company believes in recycling their equipment by offering detailed recycling instructions to the user for each of their products. This instruction manual provides all the necessary information regarding e-waste for its clients. The company is highly aware of its environmental responsibilities which is why it strives to comply with all relevant environmental laws, applicable standards, and regulations initiated to protect the environment. BBIPL has tied up with E-waste Solutions for the collection of all of its e-waste. It aims to tactfully reduce pollution and wastage during the manufacturing process of its products.

company’s software development, sales, support, and the management team, etc. Founder and Managing Director of BBIPL, Mr. Amit Jain states, “ I always aim to create an environment that makes talented people attracted to work for us. With this, I also conduct a top-down analysis of every area before deciding on corporate goals. I ensure that our analysis is extensive and explained clearly.”

BBIPL’s Noteworthy and Milestones

Achievements BBIPL’s Journey to Being India’s No.1 Kiosk Manufacturer

In 1999, Mr. Amit went on a trip to Singapore after completing his college. The profusion of kiosks in Singapore intrigued him deeply. Back then, he realized that half the world and almost 90% of the Indians weren’t familiar with the concept of kiosks. He thought of the revolutionary shift

Over the years, BBIPL has developed hardware as well as software solutions for a wide range of kiosks such as AIEnabled Kiosks, Touch Screen Kiosk, transactional kiosks, CUSS Terminals (Aviation Sector), Banking Kiosk, SelfService Automation Kiosk, to name a few.

understanding the advanced possibilities in the kiosk industry with the introduction of AI. It constantly searches for new ways to harness the technology to make its services more effective and hassle-free.

the introduction of kiosks would bring about in the market, and then dedicated the next few years to acquaint businesses with the concept and benefits of the kiosk system. By and by, the technological advancements that took place in the market encouraged businesses to embrace the usage of interactive kiosks to increase customer satisfaction levels and profits. Finally, in March 2003, Mr. Amit Jain successfully founded Bits & Bytes Integrators Pvt Ltd with a team of professionals. Today, BBIPL is home to some of the country’s top professionals and engineers. Holding an ambitious vision of metamorphosing India’s automation market, Mr. Amit Jain says, “Our mission is to design User Friendly and Aesthetically pleasing kiosks. Also, kiosk usage will keep on growing every year and the vision of our company is to deliver automated interactive kiosks and enable innovative usage of a wide range of solutions to meet the needs of our customers, business partners, and the community.”

BBIPL’s Passion To Serve During The COVID-19 Pandemic

In the last two decades, BBIPL’s primary focus has been developing self-service Kiosks. Now with the current Covid-19 outbreak, the company has sworn to advance its services to a whole new level. Recently, the company has declared itself to be the first developer of Intel-based Smart Thermal Detection & Touchless Sanitizer Dispensing Kiosk in India, as a means of helping citizens fight the virus safely and effectively.

BBIPL’s Vision For The Future

India has been progressing at a great pace in terms of

How BBIPL Keeps Pace With Dynamic technological and digital advancements. Usage of Robotics Market Trends and Artificial Intelligence has become very popular among BBIPL firmly believes in providing an exceptional customer experience through its products. The company’s interactive kiosk services help it get a thorough understanding of the needs and wants of the customers. To get an idea of the current and prospective trends, it further engages in a consistent interaction with the clients. BBIPL’s R&D department also gives great emphasis on

businesses. BBIPL feels that this industrial overhaul has paved the way for many opportunities in the future. The company plans to keep itself updated consistently whilst expanding its business across the globe. A decade ago, BBIPL aimed to install Kiosks everywhere, from Kashmir to Kanyakumari, but now for next decade its vision is to install kiosks from the North Pole to the South Pole.

Mr. Amit Jain’s Thoughts on Balancing The current pandemic has also put forth numerous challenges for CEOs such as the slowing economic growth, Personal and Professional Life

uncertain business trajectory, high-risk rate for emerging markets, etc. In such tough times too, Mr. Jain believes that CEOs and entrepreneurs must leap in faith regardless of what the outcome may be. Being a CEO himself, he stresses the importance of believing in oneself at every stage. He also believes that taking risks is extremely important to move forward and progress. “We all have some strengths and weaknesses, but we, the CEOs, are the only ones who have strong values, ethics, and morals that hold us to the highest standard.” he added. Mr. Jain believes that every CEO has a unique set of missions, vision, values, direction, and strategy. And so is his/her agenda of combing it together effectively. He feels that in the entrepreneurial world, a CEO has additional responsibilities like developing a network of potential acquisition opportunities, attending industry events, collaborating with peers and mentors to overcome challenges, etc.

Mr. Jain believes that allotting adequate time for both work and personal life is essential, especially during this pandemic. Since most are working from home, it can be tricky to define work hours correctly. He always remembers to give equal priority to other aspects of his life, to maintain a healthy equilibrium between the two. “Work and family, both are equally important. I cannot encroach or cross either and disturb the equilibrium.” he added.

Battling stereotypes and a CEO’s contribution to the Entrepreneurial World

In today’s highly competitive world, aspiring CEOs can get easily disheartened when battling stereotypes. A CEO, during his career, has to wear many hats. Right from being a visionary to a strategic thinker who determines the trajectory of his/her company.

What Keeps Mr. Jain Going Despite Challenges

When asked Mr. Jain what keeps him going, he stated, “I have always believed in myself as a leader and a businessman. The two things I swear by to stay motivated are- focusing on the big picture and adopting daily disciplines.” Focusing on the big picture helps him stay clear on what he wants and his vision for the company. It gives him clarity and dissolves any doubts that may come his way. On the other hand, discipline gives him a sense of control and makes him feel strong internally.

Mr. Amit Jain’s Golden Nuggets For Aspiring Entrepreneurs

Having a rich experience of almost two decades in the industry, Mr. Amit has acquired some timeless wisdom which he’d like to impart to young entrepreneurs. “New Digital Technology is changing the way the world works like the way we interact with each other, and what we look for in products and services. I think the biggest opportunities that the digital world poses for young entrepreneurs are that they can learn about the marketplace using different sources and engage with customers through different channels. There are also new potential value propositions because of fewer barriers to entry across different industries. Digital technology has opened up the field for these young entrepreneurs. Technology with emerging areas such as AI and robotics will help them to rule out the market with many opportunities.”

Genesis Risk Mitigation Services (GRMS): Trusted Fraud Management to Make Hiring Process Risk Free

A company may come across various candidates telling their fake employment history to fetch better jobs, better salary packages, and also better positions. Employment verification in India has become a mandatory process just to verify the credentials of a candidate as mentioned in his resume. The process includes consulting with human resources (HR) department of the previous workplace to precisely conclude the candidate’s work history. When we throw light at employee fraud management in India, there are only selective firms offering authentic employee verification services. At GRMS, the main outline is to enlighten the companies regarding right hiring principles and help them to seek protection from dishonest employees and certify service excellence.

What makes the services of GRMS Unique ?

The main reason for the success of a business is the value it gives to human relationships. It may be the longterm association or new agency-client relationships, but what your stakeholders speak about your company’s culture and brand matters the most. The GRMS follows the tagline “keeping it simple”. It simply possesses a transparent atmosphere and simplified processes and thus its partners working with it always feel at ease. Being an “ISO 27001:2013” certified risk consultancy, it is regularly audited by the internal team as well as external auditors for the system-oriented processes. Each report that comes out is well-documented and also can be traced back to cross-verification as well.

Amey Kulkarni,

Director at GRMS

ach successful business concedes its employees and vendors as its strength. They have a vital role in its growth and achievement. Thus, screening comes as an indispensable process to prevent fraud in the workplace.

marketing initiatives. It’s only the niche service and commitments that assures excellence in service. Delivering real-time results for the clients can be assumed as the best marketing initiatives for GRMS. The company always welcomes one of the biggest brands available in the market to work with.

GRMS matchless customer handling process.

GRMS told that the process is quite simple for them “Do what you promise. Promise only what you can deliver.” It is one of the generous ways of rendering quality services to clients. We conduct numerous meetings with a motto to understand customer’s areas of discomfort and consequently work hard to work on them and offer services exactly as they want. The solutions are mostly tailor-made as per the demands of consumers and the market. The other feature of GRMS that is appreciated by most clients is the readiness to accept new challenges and the willingness to explore the processes accordingly. The company has adopted a major habit of reading, researching, and reshaping its work ethos on a constant basis to stay updated.

Future Business Expansion Plans

At present, its main aim is to be a popular brand pan India. The brand is also trying for global expansion thereby indulging in global business partnerships. The brand is working to seek recommendations and top certifications for risk management services from security and financial Auditors. This in turn is enhancing customer’s trust in its brand and services.

Life Teachings from Entrepreneurship Journey and Advice for Aspiring Entrepreneurs

How GRMS Identifies Its Customers ?

A great reason behind GRMS’s existence in the market is that they assume their clients not merely as customers but as their equal partner in a united aim for mitigating persisting risks as much as possible. Each new client for business plays a role of great opportunity to establish new relationships and exchange mutual knowledge base and produce new prospects to embellish at a professional level. Thus, both compliments each other’s growth as well.

GRMS’s effective marketing promote its services

initiatives

The journey of GRMS has been quite exciting and full of challenges. There were many things to learn from and many to relinquish at the same time. There is great scope for exploring unlimited market opportunities that cannot be waited for more to get into the venture. The brand is planning to be one of the top service providers of India within the next coming years. It is recommended to the coming players at the entrepreneurship platform to be at first genuine, polite, open, and prefer networking a lot. You cannot interpret at the moment, who is going to bring you the next big lead to have great earnings at your business.

GRMS possess a dedicated sales team with the smallest size but it takes its work only as it’s one of the greatest

Please Visit:- http://www.genesisrms.com

Buildzee’s determination to redefine the website building process Challenges Faced by Buildzee at its Initial Phase of Business

At first, it was quite difficult to make Indian people aware of the software used for building the customized websites. Use of HTML to develop a website is being taught since childhood days. Pandemic has raised the importance of digital presence for all the businesses to a great extent. People are still anxious about the costly and monotonous process of website-building and to hire a technical person to manage coded website repetitively or an agency. To cater such needs, Buildzee has brought an inventive technology for creating and managing a website effortlessly just without a single line of code. Created by two founders, namely- Dhruv Vasani and Akshat Jaiswal, the brand strictly is of opinion that the purpose of technology does not solve when a user needs technical expertise to operate a particular basic software.

Akshat Jaiswal Co-founder at Buildzee

“You don’t even need to know what H in the HTML stands for. If you understand logic and workflows, then there are enough no code platforms available in the market for a broad range of services” Akshat Jaiswal

How Buildzee is Acquiring Consumer’s Trust and Its Services are Unique? Buildzee earns the trust of its customers distinctively by offering them a magnificent opportunity to build and customize website on their own. Allocating the powers in hands of the crowd (the end users, such as you and me) is the key for gaining such confidence. No more techie issues for website-building will tease further and consumers can dependably handle the website by themselves. Buildzee is not in favor of eliminating the technical experts but is in favour of helping out users who are unable to pay high costs for building a website or lacking any technical expertise to handle the coding chucks. Its target is also to prevent consumer exploitation merely for the lack of technical knowledge. This technology is not only going to empower consumers but also will encourage transparency in the website creation. The brand offers special assistance for agencies and freelancers

uildzee is an indigenous website-builder known for developing professional websites unveiling resourceful features even without the use of coding. Its exclusive integration feature offers a range of website-building tools and SEO tools for allowing your domain and website to rule over the internet. The brand’s fabulous and professional templates help users to get their website ready within an hour. The brand additionally offers free SSL protection to all sort of websites created within the platform they offer. With a tagline of “Redefining the New Cool”, it is constantly following its aim of offering safe, simple, and stunning websites promptly.

working in the web development arena. They may suitably use this platform to receive foundation and use a template for their clients, and then simply create rest of the infrastructure on it. Complex and much customised requirements can be embedded in the platform using necessary code integration. This process seems quite fast and inexpensive.

Dhruv Vasani Co-founder at Buildzee

Buildzee’s In-built Strategy to Identify Potential Customers Buildzee embraces a viewpoint that each person deserves to have a website at current digital age. It may be for personal or business reasons. Few people build a website just to demonstrate a personal portfolio or to highlight hobbies and artworks, or blogging. Whereas, start-ups and small businesses considers a website as an inescapable necessity. Buildzee categorizes the Indian market to contribute around 10% of the target in the sales chart. In the forthcoming months, the brand is willing to fetch nearly 90% of its clients and revenue from the US and EU markets due to major price competitiveness. Buildzee trusts the overseas market, because unlike India, these markets have a higher spending capacity, inelastic to pricing while adopting new technology and their endless enthusiasm to embrace new technological solutions and products.

“We sincerely believe that the No-Code technology will dominate the software market in the coming years as the technology matures” Dhruv Vasani

Buildzee’s Active Marketing Programs for its Brand Promotion

market. Most website builders use WordPress integration which is again pretty complicated to use. Its price is unbeatable in the international market. Thus, being reliable and effective in different ways, the brand is receiving great appreciation for its suitability by several users in India and abroad as well.

Buildzee relies on the digital marketing and B2B marketing for now. The brand has already made its presence in American and European markets by keeping touch with the software marketplaces revealing their products on their platforms. With a generous aim of signing such deals with two of the biggest software market places of the world, Buildzee is willing to grab the overseas audience for its software.

Upcoming Plans of Business Expansion and Prospects The brand mainly aims to develop dynamic software products

How Buildzee’s Astonishing Website for the multitudes. While creating such software products, usability, and productivity factor is always kept in mind Solutions Got Customer’s Appreciation

exclusively for small businesses and mechanization. Apart from this, drag and drop app builder, a drag and drop game builder, and drag and drop software platform are few prospects the brand is looking for to expand in the coming years. Buildzee is of view point that power of providing business function software and services are solely in hands of selective big giants. The brand strongly aims to decentralize the same. The brand is planning to bring a big NO CODE REVOLUTION in the website-building industry and eliminating the obligation to hire technical experts for high charges.

It was never easy for the Buildzee to compete in this industry. But, it’s sharp focus on two core values- “no-code platform” and “matchless pricing” has helped it to emerge in the competitive market. Its competitive pricing policy creates an abundant difference in the market. Being a SaaS platform as a fundamental of the business, it is strategically positioned to give tough competition to GoDaddy and Zoho, who have wideranging hidden fees and high cost of building websites. With the price hike in Wix India’s offerings, Buildzee.com officially becomes the cheapest available website builder in the entire 23

Ajay Piramal’s Success Story

Inspiration for aspiring entrepreneurs facing troubles in their career journey -

Mr. Ajay Piramal is a well-known Indian business person and the chairman of Piramal Enterprises Limited. After facing countless troubles in life, he proved himself as a phoenix. His story is of a remarkable business transformation, from a textile magnet to becoming India’s 4th largest pharmaceutical manufactures.

Currently, he is the chairman of Rs 400 billion groups, comprising Nicholas Piramal, the fourth-largest pharmaceutical company in India, Morarajee Weaving and Spinning, and Gujarat Glass. Under his leadership, Piramal Group has grown on to become a diversified multinational corporation, which has a presence across 100 countries across different sectors such as pharmaceuticals, packaging, financial services, and real estate. Ajay is on the Board of Directors of several companies also, which include – Piramal Enterprises Ltd, Piramal Life Sciences Limited, Piramal Glass Ltd., Allergan India Limited, Indiareit Fund Advisors Pvt. Ltd., IndiaVenture Advisors Pvt. Ltd., Piramal Sunteck Realty Pvt. Ltd., etc.

Ajay Piramal Chairman of Piramal Group

Ajay has done Masters in Management Studies from the Jamnalal Bajaj Institute of Management Studies and has completed his Advanced Management Programme from Harvard Business School (USA).

from Jamnalal Bajaj Institute and had just joined his father’s textile manufacturing unit. Things were moving fairly well, but this was still a very nascent and learning stage for Ajay. The inevitable happened in 1979 when his father died in New York.

The initial phase of life

Ajay had a well-settled family background. Despite this, he had to go through several difficulties, to become what we see today. In the year 1977, when Ajay was 22 years of age, he had completed his MBA

Things worsened when his elder brother too, decided to part ways from the family business in 1980. Only 16 days after the separation, all the textile mills in the city were forced to closed down due to a strike led by

Datta Samant, which went on for over a year. This was followed by another huge tragedy within their family, when his brother, his only support died of cancer in 1982. His brother left behind his young widow and their three children. After all these happenings, he decided to take control of the business and made sure to turn around everything for good. It was in 1984, at the age of 29 – he became the Chairman.

» The acquisition of Ceylon Company Ltd in Sri Lanka in 1999 » The acquisition of Pfizer’s UK manufacturing facility called Morpeth in 2006 » A deal with Merck for development and discovery of new drugs in 2007 » The second drug development deal with Eli Lilly in 2008 » Formation of ‘Piramal foundation’, a philanthropic arm of the group » A name change from Nicholas Laboratories to Piramal Healthcare Limited » Establishingits real estate entity, Piramal Realty » Purchase of a 5.5% stake in Vodafone India for ₹30.07 billion ($618 million). This took their total stake in the mobile telecom firm to 11%, which was eventually sold to Prime Metals, an indirect subsidiary of Vodafone Group in 2014. » In 2012, acquisition of ‘Abacus International’. It is a UK-based global market access solutions company for many of the world’s leading healthcare companies. » Purchasing the brand ‘Caladryl’ (a skincare product) in India by Piramal Enterprises. Caladryl is an anti-pruritic solution for minor skin irritations and itching. However, the biggest announcement had taken place in 2010 when Piramal Healthcare sold its domestic formulations business to US drug maker Abbott for a whopping ₹17,000 crore. The deal was considered to be the most expensive in the industry. Ajay decided to sell this business division that was making revenues worth more than ₹1,800 crores was sole because of the valuations he got.

Venturing into the Pharma Business

Soon after he took control of the business, he realized that he needed to move out of the textile business. Indeed, the textile industry had a good future, but because of the ways, the policies were fashioned, and because it was also an industry where commodity and cost were the major players, large companies just could not be successful. Since he did not have the pertinent knowledge of all the fields, he knew that the only way to grow was to acquire or merge companies in suitable sectors. He started with the acquisition of Gujarat Glass Limited. It is used to manufacture glass packaging for pharmaceutical and cosmetic products. Later, he also understood that the next boom that will happen in India would be in the pharmaceutical industry. Therefore, he went for the acquisition of Nicholas Laboratories. After acquiring Nicholas Laboratories, under this banner itself, the company went on a spree of acquisitions such as the Indian subsidiaries of Roche, Boehringer Mannheim, Rhone Poulenc, ICI, and Hoechst Research Centre. This eventually grew the company to become listed amongst the top five pharmaceutical companies in India. Nicholas had reached the highest valuation in the whole pharmaceutical industry by the year 2010.

Mr. Ajay Piramal has encountered myriad phases of life. He has come out of such miserable circumstances, which is not easy for anyone. Today, when People find him in Forbes rankings amongst the richest Indians they look up at him as an idol. Despite so many hardships, he has faced and how he has come up, he is truly a motivational personality for many.

Expansion of Piramal group

Post staying under the radar for a while, the company made a full-throttle comeback with a range of JV’s, Acquisitions, or for that matter a range of new development. This was done to strengthen and widen their presence even more, over the next decade. Some of these included -

Spiritech Company: Reconciling Faith And Technology with him. E-Puja has organized around 45000 pujas in about seventy countries. The procedure is straightforward. The Puja is done on the particular day, as demanded by the user and the prasdam, which dosen’t perish is sent to the devotee by courier, in the envelope of the temple. The distinguishing features of this service is given as follows. • • •

Chetan Merchant Founder

Epuja has a beneficial web portal, which solves this issue by providing an online booking service for VIP Darshan and Pujas. Besides Puja, ePuja also delivers ePuja Shop for Rudraksh, Astrology, Puja Samagri and Yantra. As per the firm, the online astrology market is anticipated to reach 2.5 billion USD. The firm is planning to deliver services like Brahmin Bhoj, home Pandit and also Gaudan. The firm is also providing additional services like :

Rikin Parekh Founder

•

Amount of access to worship places and temples. Ecommerce facility. Authentic and transparent services.

•

Shiva Kumar Founder

•

any Indian people are turning to ePuja using their smartphone apps and websites, which is as simple as ordering food and pizza. It is very convenient for Hindus living overseas. Users select a puja and the respective temple, pay the concerning fees, and the firm arranges a priest to do the prayers.

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E-Puja : Connect to God in one click. E-Puja is a pioneering India firm, which is dedicated to providing pujas, rituals across three thousand six hundred temples in India. The founder is Shiv Kumar, who spent around four years, meeting priests themselves and asking them to join

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Spirituality Classes: Explaining Hinduism concepts to children. Monthly Puja Boxes: People who do regular home pujas require monthly puja boxes containing all the actual damage. Religious Tourism: If you are living abroad and also if you are engaged in a very top job, then you may not get time to visit temples. Essential puja functions: Conducting and hosting Puja needs a lot of planning. Eco-friendly Ganesh festival: Due to rapidly growing environmental concerns, there is a need to find an ecofriendly Ganesh idol, for reducing the carbon footprint. Donating temple: If you live in a very distant place, it is difficult for you to travel to the temple. Astrology: Consultancy for customized astrology. Building communities: Engaging users to share information

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The platform is customer-friendly: The website of the firm is very user friendly with short loading time, easy GUI, particular categories and subcategories. Excellent pricing: The pricing is very affordable and customized to suit different budgets.

Challenges and Risks Currently, the firm is facing a lot of challenges, as expected in a business model. Since Indians, mostly do not trust online horoscopes and astrology, the challenge is to create a brand, which will be authorized by the customers. But the firm believes that startups in astrology have a bright future—the other main risks, which the firm is facing include. • • •

and connect with things related to spirituality. Kit for portable final rites. Offline store for ePuja Kiosks.

• •

Workings of The Company The country has the highest Hindu population globally, and the spiritual market is expected to reach 60 billion USD. Therefore, online puja booking has become a convenient concept, where users can book the Puja in one click. Using ePuja, the spiritual experience becomes effortless and convenient. Non-Resident Indians( NRI ) are the most significant users of the service. The payment gateway is very authentic. Besides performing Pujas, the online portal also gives data about temples, which provide Remedy Pujas for solving issues ( job issues, issues in conceiving, early marriage ), or to give blessings to a devotee. The firm also offers a lot of homams, yagnas and pujas and also famous temples as per ( Lord Vishnu / Lord Ganesha / Lord Shiva ) pujas and even Navagraha temples to the customer. The temple can be selected as per birth star/zodiac sign, for both annual and single pujas. The network of the firm is vast, with eCommerce facility, and it is connected with more than three thousand six hundred temples with priests. The firm has collaborated with temples trusts, for making and packaging the prasad. The prasad is sent to the customer within three months by courier. Till today, ePuja has done 45000 pujas and around half of them have been booked by Non Resident Indians. Prasad has been delivered to customers in more than seventy nations, in that particular temple’s envelope. Presently, the firm is doing thirty pujas daily and will be doing eighty pujas per day within the first year and is expected to reach 1600 pujas daily, within the successive five years. Epuja commenced online astrology services in October 2019, and it has around three astrologers, which is expected to increase up to 25 astrologers. The primary features of the business are given as follows. • •

•

Security of technology: The firm’s own business is dependent on the portal. All the bookings which consist of Homa / Havan, Puja, VIP Darshan and Samagri. Very high competition: There is very high competition, from unorganized local trusts for temples. Retention of priests is difficult: Due to very high website traffic, it is challenging to keep pace with the priests. Risk of execution: The firm has a lot of collaborations with many travel firms (Thomas Cook, SOTC, MakeMyTrip ), to acquire customers for VIP Darshan. Coordination is challenging if footfall at VIP Darshan places increases very much. Target audience is tough to reach: Older people after the age of 65 like to visit temples, but lack technological awareness and are therefore rely heavily on their children, to attend any Puja or order Puja Samagri.

The Leadership Team. The leadership team encompasses of the following talented individuals. •

•

High quality of services: ePuja is delivering prasad in the particular temple’s envelope, which gives it authenticity. Repeat customers are very crucial: The firm extensively focuses on current customers. Around forty per cent of customers are existing customers.

Shiv Kumar, Founder and Executive Director : Shiv Kumar has around twenty years experience in the field of Sales and Marketing, and has extensive networking skills. He is involved with temples and cultural bodies. He sits in Bangalore office and heads ePuja. Chetan Merchant, Managing Director and Chairman: Chetan Merchant has more than ten years of experience in the field of Marketing and Sales. He was last posted at Development Bank of Singapore at Mumbai, as a leader of Client Acquisitions. He is a part of the prestigious Bhatia Community of Mumbai and is the youngest trust member of the Global Bhatia Foundation. Rikin Parekh, Director – Rikin Parekh is an MBA from the KJ Somaiaya Institute of Management Studies, and has done past work at Notz Stucki & Cie Switzerland fund and has a present firm known as Maverick Equities (since 2006).

Future Plans Epuja plans to make a spiritual mall, where all the requirements of its customers will be handled. 29

Top Indian Entrepreneurs who are former Engineers and never went B- School

ften, we come to hear of the news of graduate engineers being unemployed for several years after graduating. In 2015, as per a survey done by a leading skill assessment agency, Meritrac, only 10 percent of engineers graduating were capable of being hired by IT services companies. The figure for product development firms was even more shocking. Only 6 percent were employable in top firms like Microsoft, Adobe Inc, etc. If you think this is despicable, the worst is yet to come. It is estimated that only 4 percent of the engineering graduates can solve a fundamental mechanical and chemical problem for core and manufacturing firms. No wonder we find highly qualified engineers applying for peon jobs in the Railways. As per leading staffing firms, Teamlease, most graduates have to be trained on the job for at least a year before being deployed on real-time projects. So, firms lose a lot of money in training these fresh hires before extracting the maximum benefit out of them. For the last five years, only 15-20 percent of engineers could obtain campus placement directly, and the rest had to wait almost three years before getting the right kind of job. Therefore, many engineers are starting their businesses and opting for entrepreneurship, instead of focusing only on appointments. Let us list the top five Indian engineers who started great enterprises without acquiring an MBA.

1) Vishal Shah – Storia Foods and Beverages Vishal Shah is one of the most pioneering businessmen in the field of chemical engineering. He utilized technology to solve the issues of the food industry using innovative products. The latest technologies are utilized to make the process easier, turn the product valuable and healthier. Shah created Storia Foods & Beverages in the year 2016. The mission is to provide convenience and sustainability and lead to a much simpler lifestyle with nutrition products. Storia Foods and Products handles four Stock Keeping Units like coconut water. This was followed by fresh fruit juices, milk powder, and shakes. Within two years, Storia expanded to fifty-two cities in India and having fifty thousand retail stores. The company recorded a turnover of Rs 23 crores in the year 2018-2019.

2) Sumit Agrawal – Vyapar Sumit Agrawal was working for Intuit’s Quick Books, accounting software for small firms. He realized that small firms and MSME’s required a much smaller software, which was much more affordable. In 2016, Sumit commenced Vyapar with savings of eight lakhs. It is a straightforward business accounting and inventory management app for small firms. The app can be used on PCs, smartphones, and downloaded by more than a million MSMEs. Vyapar’s turnover has reached three crores per annum.

3) Vijay Mansukhani – Onida Vijay Mansukhani was working in the merchant navy in the 1970s. After meeting his future wife, Gulu Mirchandani, he jumped the entrepreneurship wagon and launched the first color TV brand ‘Onida’, during the Asian Games in New Delhi, in 1982. The Indian government had announced the entry of color TV. Soon, Onida became the first choice of the Indian consumer. As time progressed, Onida became a 736 crores firm.

4) Zubair Rahman – The Fashion Factory Zubair Rahman, from an Electrical and Electronics engineering background, worked as a lowly CCTV operator at a garment factory in Tirupur. He received an order to install CCTV’s in the eCommerce company office. After realizing the opportunity of starting a fashion business, he left his job, and in 2015, he invested just Rs 10000/- to commence the Fashion Factory in his home. The firm is receiving 200-300 orders daily, and the firm has a turnover of 50 lakhs every month.

5) Ajay Kumar Jaiswal – Urja Gasifiers Ajay Kumar Jaiswal, an engineer by profession, started the firm Urja Gasifiers to make renewable energy and manufacturing eco-friendly products for customers. The firm has established in the areas of pollution control and renewable energy. It is known for high-quality manufacturing. The firm is focussed on making creation systems. The market size of the cremation system exceeds 5000 crores. The firm has a income of more than 1.25 crores.

Conclusion Through this blog, the author has tried to explain the incredible examples of India’s top five engineer turned business people, who have created top-class businesses without actually pursuing an MBA. This dispels the common notion that it is essential to waste tons of money, acquiring a wasteful MBA degree. These success stories also prove the notion that no business school can compensate for a real-time experience. This blog doesn’t intend to demean the value of an MBA in any way. If you acquire a Master of Business Administration from a top-notch school, it holds a lot of weight. Even if you have missed the coveted MBA degree by any chance, you needn’t despair at all. It would help if you utilized this time by gaining valuable experience, which will enable you to imbiibe a lot of new skills like risk-taking, developing new customers, and beautiful habits. You will earn an additional two-year income during all this time, which you would have lost while pursuing an MBA. Lastly, more significantly, young Indian engineers must not always go in for jobs and waste their time searching. They should explore the option of entrepreneurship and take advantage of the enabling environment, which has emerged lately due to the easy availability of working capital and loans.

CEO’s mandatory efforts for empowering next generation of start-ups

offering outplacement services, yet with the job market in freefall, we need to offer alternative options for people, one in which they can create their future by building a startup. This process is tried and tested. Nokia was faced with making over 40,000 job cuts a decade ago. It opened centers in Europe, India and the US to help those faced with redundancy to find a new job, either in the company or outside of it. It had also formed an entrepreneurial stream for employees and named it ‘Bridge’. Ever since it has been formed, Bridge has helped over 1000 startups get their beginning. The bridge scheme is credited for fuelling the rise of the Finnish tech ecosystem, which includes success stories like Supercell and Rovio. The current economic climate is not propitious for startup success and this has kept many CEOs worried. However, they couldn’t be more wrong. When you look back across history, you will find several large companies that have started during times of economic downturns and that’s not a coincidence. Look at the recent examples of Uber and Airbnb. These startups are not the only ones – companies like Microsoft, Disney, and IBM were all founded during deep recessions. It is just because times of rapid disruption provide ample opportunities for startups to take advantage. COVID-19 has presented a perfect

ost COVID-19 pandemic, this world needs startup more than ever for their innovative solutions to pervasive problems, both big and small. But to make sure that this generation, and future generations, of new startups, have what it takes to take up major issues, the world also needs CEOs who can enable the next generation of startups. During these times of global crisis, CEOs are focused on two things – cash flow and runway. Due to some catalytic events such as Covid-19, years of activity is condensed into weeks. Hence, the CEOs across the world need to make time-critical decisions that will make the difference between the company thriving or surviving, all under an incredible intense timeline. It has been estimated by International Labour Organization (ILO) that nearly 400 million full-time jobs have been lost in the world in the year’s second quarter (April-June 2020) due to the novel coronavirus disease (COVID-19) pandemic. The labor organization has also pointed out that job losses in Africa were much more than its earlier estimates, while many more working hours were lost in Asia than earlier predictions. Many companies are implementing cost-cutting measures, including redundancy, due to the pressures of COVID-19. We can see that world over, companies are looking to ease the transition of departing talent by

opportunity and is reshaping every industry, which lowers barriers to entry and provides huge opportunities for startups to tackle new consumer demands.

• Building Partnership: If you are investing in startups you need to make sure that the program is supported with a partnership that will provide the best experience for your people to maximize success. Purchasing a course of Udemy or having an hour’s discussion with a startup coach from an outplacement firm isn’t going to move the needle. Entrepreneurs wanting to build new startups need access to the right training, coaching, and mentoring to develop the right skillset and mindset as well as being given the right kind of introductions to early-stage VCs and Angel investors. • Communicate: This is a prominent strategy and can be used to attract new talent, build stronger relations with the communities and customers. Therefore, you need to have a communication plan to share the impact of this scheme with key internal and external stakeholders, showing that you believe in your employees when they leave the organization just as much as you did when they joined. • Objective: Remember, this is not about unicorn building, but empowering your people to create their future. In the case of the Nokia program, a third was focused on building high-growth startups but two-thirds used it to launch their freelance career or pivot into a new industry altogether. Many People think that timing is the most important factor in success, and whilst that might feel counterintuitive right now, COVID-19 is providing the perfect timing. Global CEOs have the opportunity to play a leading role in reshaping this future, not only through the people the company retains but also in the people it has to let go.

There are several key factors which can help CEOs to pioneer the alternative options to make this a success: • Collaboration within the company: The best startups are those founded with teams that have complementary skill sets – but in a corporate environment the chances are people who work in tech development don’t know sales colleagues, etc. because they work, for example, in different locations. Thus, you need to create a space where employees can meet, make connections, and potentially form teams around common problems they want to solve. During COVID-19, this can be done virtually. However, the key is just to ensure that people correctly identify their skill set and areas of interest. • Involvement with your staffers: You need to be clear on the degree of your involvement – are you prepared to offer access to unused IP, assets or data, or are you just presenting the opportunity to develop the skills and mindset for ex-staff to create a startup, or are you willing to invest in ideas that could help solve your challenges? In the case of Nokia, the company had allocated a fund, and its program enabled ex-staff to pitch for seed capital of €25,000, with up to four exemployees being able to combine to access a potential pool of €100,000. The company, however, needs to build a system for clear governance and measurement, but it also means that the corporate can reap the reward for startup successes.

What will be CEO’s strategy for meeting divergent demands the new pandemic era?

Crisis Mode

NCs around the world have now had time to adapt to a new way of life. Although, with uncertain prospects for the future, CEOs must avoid growing complacent. Most business leaders are used to dealing with uncertainty but little could have prepared them for the upheaval caused by COVID-19. All of a sudden, CEOs were forced to adapt, setting up their teams to work remotely and, where possible, moving their services and operations online. But now, six months on and with this exceptional situation set to last, how can business leaders continue to operate and meet the often-contradictory demands of employees and the organization? Also, what lessons have they learnt from the early stages of the pandemic that can help?

When the pandemic started, CEOs’ first priority was to protect their people, their company and their customers.Besides this, ensuringbusiness continuity was their main focus, whilst very quickly managing their cost base. Appreciating the scale of the challenge was vital. Althoughrealizing that COVID-19 isn’t going away, CEOs are moving out of crisis mode and considering how best to do business in a new ‘normal’.

Contradictory Challenges

Most often, the demands being placed on CEOs are diametrically opposed, which is pulling them in different directions. The economic environment is quite tough at present,

requiring equally tough decisions. It has been forecasted by OECD that the global economy will shrink by 6-7.6% this year, representing the deepest recession since the Second World War. Several jobs are being axed every day in every sector, with the OECD predicting that “even in the more optimistic scenario for the evolution of the pandemic” the unemployment rate in OECD countries shall exceed to a new high ever since the Great Depression. Despite the fact that CEOs may want to hold on to as many people as possible, they have a cost base to manage and they have to deliver to investors. Hence, their dilemma is how to provide employees with the support they need while optimizing business performance. Also, how to focus on current priorities – grappling with coronavirus-driven shocks to the business – while assessing new opportunities created by the dislocation. There is another challenge to look at which is achieving the right balance between virtual and human interactions. However, CEOs also recognize that connections across their business are starting to fray and that some people’s work-from-home arrangements are less than ideal. So, the leaders need to find out the ways to maintain cohesion when people are physically apart.Also, how can they be understanding of individual circumstances while remaining focused on business performance, is another aspect to look at.

vital. According to André Helfenstein, CEO of Swiss Universal Bank at Credit Suisse, the pandemic brings opportunities that swift decision-making, and the courage to change, can unlock. André further adds that this pandemic situation forces us to more radically question certain businesses, set-ups, processes and investments that previously seemed a given or were changing, but too slowly. Stricter cost management and more efficient ways of operating ultimately free up resources that can be invested in new opportunities and offer potential for improving existing business set-ups and the way we work.

Ability to unify teams

Working from home has allowed organizations to continue to operate, and with companies from Amazon to Zillow extending their remote working policies, many will be doing it for a lot longer. Although reflecting on their early pandemic experience, many CEOs feel that they need to do more to bring their virtual teams together. Going ahead, CEOs should conduct more one-to-one check-ins, establish better methods of linkage – across senior people, functions and projects – to replicate the collaboration facilitated by office life, and enforce black-out times to avoid employee burnout.

Leadership Skills

Long-term thinking

CEOs need to be utmost flexible with a multi-faceted skill set while managing such dilemmas. Driving performance is simply not enough.

It is difficult to plan ahead amidst so much uncertainty, with some organizations putting detailed five-year plans on the back burner. While there are other companiesas well that are continuing with their usual plans, even if they aren’t sure how much faith to have in them. For many CEOs, long-term alignment is a relatively low priority right now and it is hardly surprising, but some level of forward planning is useful. It is recommended to find small amounts of time to focus on it and acknowledge that the uncertainty can be unsettling.

Flexibility

At times CEOs have to deliver complex, yet opposing messages. There are many instances wherein CEOs need to maintain staff morale and keep people informed and then, the next day, having to issue a note about the pandemic’s ruinouseffects on the business and the urgent need to improve performance. It is a delicate balancing act which the CEOs should learn.

Personal Growth

It is expected that for CEOs, the COVID-19 crisis turns out to be the ultimate leadership challenge. Those leaders that make it through will be seeing meaningful jump to their businesses, personal development and in societal terms. It is a galvanizing experience knowing that you are robust enough to survive, and possibly even thrive, in a crisis situation of this magnitude. This shall provide CEOs with the confidence and multi-faceted skillset to weather most future black swan events.

Decisiveness and Innovation

Business leaders were forced to make quick decisions with incomplete information during the initial stages of the pandemic. Likewise, CEOs will need to continue to lead without the visibility they are used to. During this inherently unknowable situation, no amount of analysis can tell them what proportion of their retail outlets will be open by next March or how efficient transport links in their supply chain will be. Meanwhile, innovation is

Ahamad Moradi CEO

Revolutionizing Digital Economy in Real-Time

company with an experience of over 2 decades and with excellent online Video-First Strategies, NETSTAIRS has earned a global name. It manufactures Virtual Private Cloud (VPC) for â&#x20AC;&#x153;Real-Time Digital Economyâ&#x20AC;?. It offers an ecosystem with interactive broadcasting, collaboration and communication (iBCC-PaaS), VPV to meet the need of its clients. The fourth generation time tested mesh enabled WebRTC and HTML5 private cloud service of NETSTAIRS, PIXEL is an intelligent media and video streaming platform. ZIMZIM is an infrastructure based on Selective Forward Unit (SFU) of NETSTAIRS that has been highly optimized to function for 5G services. Its videos are being streamed out for both desktop and mobile secured cloud group web conferencing. Another video platform called LETSCAST.VIDEO shows artificial intelligence to be functional on one player per viewer. Any sort of scheduled event, own selected channels network, live streaming and such other volume chat promoting contents can be setup by publishers working with NETSTAIRS with all protected rights. iCDN.VIDEO allows users to experience a sorted out interactive content delivery networks (iCDN), connected to the leading CDN providers with multiple building players. The DMR or Digital Media Room platforms come with built-in intelligent media streaming with advanced configuration. Group Video Conferencing go in live with meetings and events that are copy-paste embeddable. This makes sharing of content ideal and easier with better team collaboration and communication. Thus, NETSTAIRS provides its users either with consulting (Know-How), Technology (iBCC-PaaS), and or both. 40

clarified his vision towards making something innovative. Based on the company’s size, culture, market value, ethics and business, the role and responsibilities of a CEO varies. He has to cater after some morale responsibilities. Moradi as a CEO has carried out all morale responsibilities to manage the overall growth of the company. Some of them includes – meeting stakeholder’s expectations, work in close association with executive team management, the satisfaction of board members for their support and last but not the least, serving an efficient client base over decades. He has always remained calm, cool, focused and calculative at any perspective. Being aware of the current market trends, the changing technological phases and the impact of technology keeping a fast pace in the ongoing business of concern, he has always been working strategically with prominence. Unlike most CEO’s, he has always set a future framework for NETSTAIRS by introducing incomparable products and launching innovative services that has accelerated the rate of ROI.

The Onset of the Next-Gen Video Creator and Broadcaster NETSTAIRS.COM is a dream-come-true software that was launched with the purpose of video streaming on the Internet in March 2000. There was a time when such things were not possible on the Internet. So, NETSTAIRS’s prime motto was to develop the most innovative video strategies and its services are based on interactive broadcasting with collaboration and communication. CYBERMARCIAL in 2000 was the first introduced service product of NETSTAIRS which was an email video service that formed chains of networks joining all prime global ad agencies with luxurious consumer brands. 2 years later iV8 was introduced with the advent of streaming. Probably, the company’s growth took a toll after discovering this world’s first intelligent media middleware. Furthermore, the company’s growth accelerated on a multi bit-rate encoder server to deliver obstacle-free videos called C-iV8. NETSTAIRS further improved its content delivery service with the advent of mobile streaming even before Android and iOS were launched in the market. Some prominent leading partners for which they have been serving for are Level3, AKAMAI, etc. At present, they provide Virtual Private Cloud (VPC) for Real-Time Video-First Broadcasting. NETSTAIRS has come up gradually with a wide-spread channel network with outstanding digital media rooms that are highly specialized for sharing content and media. Working as a pioneer VPC service provider, today NETSTAIRS has secured a global rank by serving Telecoms, Industries, Publishers, Producers, Enterprises, Exhibitors, Entrepreneurs, TV Affiliates, Governments, Event Promoters, SMB Market and Studios.

Offering Secured Client Service across the Globe NETSTAIRS has signed mutual NDA with agents, channel partners, suppliers and various clients. The company does not disclose its details so as not to lose the integrity of their data. The working partners are always aware of what is getting published and whether they are in consent with the rights management obtained from the source. Currently, NETSTAIRS has been serving diversified client projects at a successful rate for having been working for the last 20 years. The clients from various corners of the world along with their projects and works have been kept confidentially private and secured under the portfolio of NETSTAIRS. Probably, this is why NETSTAIRS has developed an unbeatable phase in securing a range of diversified clients, some of which are given below: • Nivea • Avon • L’Oreal • Coca Cola • Mountain Dew • Hilton • Pepsi • Malibu Rum • WE2.VIDEO • VYPA Corp • Garnier • Proximity and so on.

The Frame Maker of NETSTAIRS The spontaneous, self-disciplined and a man pioneered with excellence – Ahmad Moradi is the Founder and CEO of NETSTAIRS. The years’ long deliverables with accuracy and the management of the pillars of this organization have been possible by the seamless hard work and time management of Moradi. Today, in the era of Covid-19, group watch entertainment and remote work are the new normal. He has maintained a predictive timeline and has been managing between the corporate and client’s vision to achieve the company’s goals and objectives. The concept of remote result-driven management has become the key mission of NETSTAIRS.

The Unmatched Struggles that Made Ahmad Moradi Unique Amongst Others Certain character traits based on knowledge, experience, industry and engineering vary amongst various CEOs of the world. Each CEO has a different story to tell that has 41

Untold Story of Success that is going to inspire you

success story is expanding with the entrance of e-retail and m-commerce stores. It enriches the small vendors to enlist their products on the needed website and allow expansion of the customers-base.

n the year 2010, Indian telecom infrastructure was evolving in a revolutionary way, but Vijay Shekhar Sharma’s investors were not very much relying on the idea that mobile-first consumer service is going to rule the masses later. He did not earn any funding over this idea and made investments himself to prove this to the people. Rest things were historic on its own. Ever since Paytm has started, it has brought a paradigm shift in the retail industry by completely transforming the payment methodology. During its initial years, this online wallet cum e-commerce website was used to make payments for limited utilities such as mobile and DTH recharge and shopping bills. Over the years, this portal has expanded its scope and has brought about anything and everything under the ambit of its operations. Paytm customers are free to recharge metro cards, pay bills for utilities such as electricity and water, book flight, train/ bus tickets, transfer funds to other bank accounts, make hotel reservations, etc. Now, the recent Paytm

Years of Foundation

The inception of Paytm was done in the year 2010 by a visionary alumnus of Delhi College of Engineering (now DTU) Mr. Vijay Shekhar Sharma. Long before the inception of Paytm, in the very first year of this millennium, Mr. Sharma has laid the foundation stone of Paytm’s Parent company One97 communications. Initiated as an online mobile recharge and bill payment platform, Paytm now enables its users to make almost every kind of transaction on the click of a button. In just 8 years, Paytm has over 250 million registered users and counting. Paytm’s major investors include Alipay, Alibaba groups, SAIF partners, Silicon Valley Bank, and Sapphire venture.

Unambiguous Growth

per second which are simply incredible. Such a huge capacity of transactions has been made possible by the implementation of a very simple yet effective and safe payment method. Users can simply pay by either scanning a QR code of the shop or by entering the mobile number of the recipient. Paytm wallet also render options where a user can either safely park his or her money in the application and make the payment from money in the wallet or pay directly from the bank via the application. An increasing number of people are now utilizing Paytm to pay for their daily utilities and other expenses.

Paytm gained abrupt prominence after the startling decision of demonetization by the honorable Prime Minister Mr.Narendra Modi. It became the prime source to run the economy. Since there was a lack of flow of cash, people were lured to use Paytm. During demonetization and thereafter, it became the lifeline for millions of lower-middle-class and middleclass working population. Not only this, but it also became the torch-bearer of the cashless economy (or say less-cash economy). Though the company was doing extremely well ever since its establishment, it was mainly focused on catering to the young millennial. The youth more or less now choose to be technically driven which was the idea that Paytm was working on. The demonetization phase opened a new door of success to the company. It helped the company spread its base among the not-so-educated and digitally aware people like hawkers and street vendors. Many people ridiculed and mocked the idea of Mr. Sharma. But those people themselves became laughing stocks when they started seeing the flyers of “Paytm Accepted here” in the remote areas of the country. This out-of-the-box thinking has helped it gain 100 million registered users. Surveys were depicting that Paytm has surpassed similar payment applications such as Mobikwik, Freecharge, and other eCommerce app developers in the number of users and the revenue generated.

Prospects for Business Expansion

In 2018, Paytm’s market share among the e-payment companies was 26%. Paytm is now planning to look out for new avenues. By 2020, Paytm plans to tap the loan market and disburse small loans to 500 million people. The Paytm Payment Bank was launched in May 2017. There is an imminent need to expand its footprints considering the population of the country and for that, Paytm has set up a board committee to look after the expansion plans of the Payment Banks. There is also planning of launching a chat app by Paytm with more sophisticated features considering the immense opportunity in this space after what WhatsApp has done to the world. In the acquisition front, Paytm has bought Shifu and Near.in to improve and strengthen its offline and online platform and enhance the customer experience. Paytm is a paragon in the field of e-commerce website developers and its meteoric rise in popularity has inspired others to follow suit. The belief, vigor, and determination of its founder have led this company to become a shining star in the business field.

Why Users Should Trust Paytm

Paytm users can trust the company purely for the reason that it is a Reserve Bank of India (RBI)-approved e-wallet, i.e., the user’s money is secured under the Escrow account with a nationalized bank. Paytm has emerged to become the most favored digital payment platform in India simply because of the security feature it provides and an easy to use interface. Paytm uses Verisign-certified SSL (Secure Sockets Layer) 128-bit encryption technology. This has ensured that the online information of the user, i.e., the password and other financial details, is safe, thus providing greater protection to users. The Paytm online payment system is not only secure but also robust. It can handle around 5000 transactions

Have a Look over Ten Richest Personalities of India India, for centuries, has been famous for generating wealth using enterprise. Right from the ancient schedule, there have been countless wealth in India. In the 16th century, India and China-controlled about 40 percent of world trade. The Nizam of Hyderabad was supposed to be the wealthiest monarch in the world. One of the most priceless treasures globally, the Kohinoor diamond, was taken away by the Persian invader, Nadir Shah when he attacked India in the 18th century. The diamond was a part of the famous Peacock Throne, taken to Iran and then, later on, was transported to Great Britain. With time, wealth permeated to different sections of society due to industry and commerceâ&#x20AC;&#x2122;s advancement, instead of the nobility. In present times, there are lots of billionaires in India. Now, let us encounter the top ten wealthiest people in India.

Mukesh Ambani Whenever one thinks of billionaires in India, the first name that comes to the mind is Mukesh Ambani. Mukesh Ambani, the petrochemical giant Reliance Industries chairman, is worth 75.7 billion USD and is fifth on the global richest list. The company has steadily diversified into other areas, away from its core areas like petrochemicals and newer areas like telecom and retail. Reliance Jio is one of the pinnacle telecom networks in the country today, worth 20 billion USD.

Shiv Nadar The founder and head of the IT conglomerate HCL Technologies, Shiv Nadar is 2nd on the list, with 16.5 billion USD. The company is a 23 billion USD firm and has a presence in more than forty-five countries worldwide. HCL Technologies is into both software and hardware.

Radhakishan Damani Radhakishan Damani, the quintessential man with simple habits, is worth a staggering 15.1 billion USD. He has a rank of 110 on the list of wealthiest people globally. He is a stock market investor and is the founder of the giant supermarket store Dmart, which became public in 2017. Due to its fantastic business model, it has grown on to become one of the worldâ&#x20AC;&#x2122;s most valuable supermarket chains. Its parent firm Avenue Supermarkets is much more profitable than its competitors, as per reports.

Gautam Adani The poster boy of Indian entrepreneurship and one of the most successful rags to riches story. Gautam Adani started his journey as a diamond trader in Mumbai in 1978 and then found the Adani Exports Limited, which was later renamed as the Adani group in 1988. Today, he is worth an unbelievable 12.7 billion USD and is fourth on Indiaâ&#x20AC;&#x2122;s wealthiest people. He has a rank of 139, on the most affluent people globally. He owns the largest port in India, the Mundra port, and has activities in various other businesses such as renewable energy power generation, commodities, and transmission, etc.

Insights

Cyrus Poonawala Cyrus Poonawala is one of the pioneers of the Indian pharmaceutical industry. He has a wealth of 11.8 billion USD. The Serum Institute of India was founded in 1966, and currently, it is the largest producer of influenza, polio, and measles vaccines. Now, the firm is also making two vaccines for COVID-19 and is leading the research in this field. He has a ranking of 150th in the list of wealthiest people globally.

Uday Kotak

Uday Kotak is another big rags to riches story. He is an MBA by profession and initiated Kotak Capital Management Finance Ltd. The initial investment was approx 80000 USD. The company has grown to a massive financial services giant, having a net worth of 19 billion USD as of 2014. Kotak Mahindra Bank has grown to be the second-largest bank in India with over 1250 branches. Uday Kotak has total assets of 11.5 billion USD and is at the rank of 155th on the global richest list.

Sunil Mittal Who can forget Bharti Airtel? The brand is synonymous with the telecom revolution in India. It is often said that had liberalization not happened in the 1990s, a company like Bharti Airtel would not have emerged. Sunil Mittal, the founder of this telecom giant, has assets of 11 billion USD. Bharti Airtel is one of the largest and the second-largest telecom company in the country. It operates in over eighteen countries, across Africa and Asia, and has almost 399 million customers. In 2016, Bharti Airtel had a revenue of 14.75 billion USD.

Lakshmi Mittal The steel king, was once, one of the richest men in Britain, even eclipsing Her Majesty Queen Elizabeth. He holds the designation of Chairman and CEO of Arcelor Mittal and has an unbelievable worth of 9.4 billion USD. He is renowned for turning sick steel, making firms into very profitable companies. Just recently, he purchased the bankrupt Essar Steel, which was owned by the Ruia brothers. Today, he has a rank of 192 on the global rich list.

Kumar Birla The poster boy of one of the oldest business groups in India, Kumar Birla is the head of the Aditya Birla Group and has enviable assets worth 8.5 billion USD. He is the ninth richest person in India. The Aditya Birla Group is making cement, aluminum, and retail, financial services, and telecom.

Dilip Sanghvi Dilip Sanghvi is another classic example of rags to riches story, worth a massive 8 billion USD. He is the creator of Sun Pharma, which is the largest maker of generic drugs. Besides, he has also put a lot of money in oil and energy ventures. He holds a rank of 240th position on the global rich list.

Conclusion

In this article, readers will get detailed information about the top ten wealthiest people in India.

Insights

Wealthiest Business Tycoon with Wealth reaching 10 Trillion scratch. The billionaire’s list is highly diversified, with individuals in nearly all the fields like finance, footwear, healthcare, tech etc.

Introduction

The world seems to be getting richer day by day. Even in the times of COVID-19, there seem to be no signs of wealth slowing down, in the hands of ultra-rich. The billionaires, which are spread throughout the whole world, including Asia, the United States, Europe respectively. Most of them are self-made, with the possible exception of the Gulf monarchies, who amassed vast fortunes, due to high oil prices, in the 1970s. The list though hasn’t changed much, with Amazon founder, Jeff Bezos, leading the pack, followed by Bill Gates, stock guru Warren Buffet.

Manufacturing

Starting with Len Blavatnik, who commenced his business, by creating Access Industries in 1986, which is into aluminium extraction and processing. He is also the possessor of Warner Music, which he acquired for 3.3 billion USD. Currently, Blavatnik is estimated to be worth around twenty billion dollars.

The surprise entry this year is Indian petrochemicals tycoon Mukesh Ambani, who has climbed up to the fourth position in the list, with his net wealth soaring up to eighty billion dollars. The fantastic success of Reliance Jio, which is providing the cheapest broadband and the smartphone, worth only 50 USD, has captured the whole Indian market and taken the world by storm. Broadband rates, offered by Reliance Jio, are now the envy of the world. It is as low as 0.07 USD per 1 GB of data. Now, let us examine this record wealth in detail.

Telecom

Perspective

Who can forget the legendary sports shoes ‘Nike’, which is perhaps the largest selling shoe in the market? Its founder Phil Knight started the firm five decades ago, with five hundred dollars. Today, the brand Nike is worth eighty-

One of the wealthiest Chinese origin entrepreneurs, is Ka-Shing, is the owner of Hutchinson Whampoa, which also acquired the second-largest mobile operator, O2 based in Britain. Shing has recently invested twentythree million dollars in egg-replacement and plant-based firm Hampton Creek, with the help of his startup firm Horizon Ventures. Shing has a net worth of twenty-one billion dollars.

Footwear

One of the most invigorating ingredients of this fantastic wealth of billionaires, is that majority of them are selfmade. If you look at all the list of all the twenty-five billionaires, you will find almost all of them started from

six billion dollars. Phil Knight’s net worth more than twenty-one billion dollars.

day. Soros, who migrated to the United States, from Hungary as a Jewish, Second World War refugee, without a penny in his pocket is worth about 25 billion USD today.

Finance

Carl Ichan, the financial tycoon, created Icahn Enterprises, which is a diversified holdings firm, in the year 1987 and is present in almost all the fields like energy and technology. Ichan has assets estimated to be around twenty-three billion dollars.

Technology

The father of the information revolution and probably, the most impactful people in the world, who created the company of the century, information giant, Google are Larry Page and Sergey Brin respectively. Sergey Brin studied PhD in computer science at Stanford University, where he met Larry Page and both created BackRub project in 1996, in their dormitory rooms. Both of them quit Stanford, to start their favourite firm Google. Currently, Brin and Page are worth thirty-one and twenty-nine billion dollars, respectively. The guru of social media, Mark Zuckerberg, made Facebook when he was in his sophomore year at Harvard, and then moved to California to increase the company’s growth. The IPO of Facebook raised sixteen billion dollars in 2012. Today, Zuckerberg and his wife, Priscilla, is worth a hundred billion dollars.

Media

New York’s wealthiest individual, Michael Bloomberg, who is the wealthiest media tycoon, commenced his career at Salomon Brothers as a stock trader and then as a partner. Later he created Bloomberg LP in 1981 and has assets worth thirty-three billion dollars.

Luxury Goods

Today, life is unthinkable and going to any party is inconceivable, without the presence of glasses like Ray Ban, Oakley, Versace, Prada etc. The owner is the legendary Leonardo Del Vecchio, who created Luxottica and is the largest eyewear retailer globally. The firm commenced in 1961 and also made glasses for worldclass luxury brands like Versace, Burberry etc. Vecchio is worth twenty-three billion dollars and recently, gave ten million dollars worth of shares to all his Italian staff, for celebrating his eightieth birthday.

Probably, the most famous billionaire in this list is the founder of Microsoft, Bill Gates, who created the software giant, along with his colleague Paul Allen, in 1975, after dropping out of Harvard. Today, Gates has a fortune of 100 billion USD.

Stock

Despite this year’s COVID pandemic, the wealthiest person on this list Jeff Bezos, wealth has zoomed up to two hundred billion dollars. Tech firms have benefited tremendously, from this pandemic, since more and more people are shopping behind doors and are socialising more.

Another legendary investor, who broke the Bank of England, George Soros, created Quantum Fund, in 1973, which is a hedge fund, as a part of the Soros Fund Management Company. One of Soros incredible moves occurred in 1992, by shorting the British pound, which made the fund earn up to one billion dollars in one

Conclusion

The guru of the stock market, Warren Buffet bought his first stock at the age of eleven, and he is the creator of Berkshire Hathaway, having the highest valued shares in the New York Stock Exchange. He is third most prosperous on the list with around ninety billion dollars.

In this blog, readers will come to know how the wealth of the global billionaires has reached a vast ten trillion dollars.