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may 2018

VOL 4 ISSUE 5 panaji goa

RNI No.: goaeng/2015/59955

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

goa’s only business magazine

industry dossier

Jai Ganesh Ispat Industry

Buland Shukla starting young

Daud Electricals enterprise

Prashant Joshi Interview


Bon appétit

The Goa Startup and Innovation Day hosted recently sounded the bugle for the state’s intent to be a preferred startup destination in the country

“Goa will be a preferred startup destination” rohan khaunte

Minister for Information Technology

kickstarting the

startup phenomenon

News Views Articles Interviews Profiles Focus Analysis Opinions Events Features



Cover Story 14

Celebrating Goa Startup and Innovation Day; a day that marks a pivotal point for the entrepreneurial trajectory of the state

Focus Goa 20

The Office of the Commissioner Labour & Employment organised The Conclave, where industry stakeholders were in dialogue with the government

Starting Young 24

Buland Shukla is revolutionising the world of music in Goa through his venture Audiophile Goa

Enterprise 26 28

Daud Electricals led by Shaikh Abdul Majid, is known for its versatile lighting range


Interview 28

In conversation with Prashant Joshi who has been appointed as South Korea’s new Honorary Consul in Goa

Goan Brand 30

Shubhra Shankhwalker’s venture आई’s (Aai’s) strives to preserve the quintessential Goan experience by providing authentic home-cooked meals

60 26

Industry 32

Siddharth Goyal has built Jai Ganesh Ispat from scratch to be a leading steel player in the state. The unit based at Corlim has tie-ups with the best brands in the business

Lady Power 36

Laxmi Kunkolienkar has not only been setting new food goals for herself, but also empowers other women by providing employment opportunities

Professional Dossier 38


With 40 years of experience in the field of engineering, Gerard D’Mello has built a strong reputation for pursuing excellence in his profession

Bon Appétit 66

Orchid at Fortune Miramar; and Goan Tapas at Antares


52 People Tree

Kishore Shah compares the performance rate of family-owned firms and their nonfamily-owned counterparts



38 66

54 Beyond Classroom

Dr. Pradeep Salgaonkar highlights the importance of quality and service in the growth and sustenance of a business

56 HR Mantra

R N Misra discusses the conditions under which contract labourers can seek regularisation

57 Corporate Citizen 62

Daniel Albuquerque emphasizes the system of rules, practices and processes by which a firm is controlled and governed

08 Editorial 10 Corpo Scan 34 Campus 34 BG Crossword 35 Book Shelf 40 Events 44 AutoWorld 46 Biz Bytes 50 Fashion 58 Telecom 60 Real Estate 62 Beyond Boundaries 64 What’s Up Goa 68 Goa Buzz 70 Newsmakers 70 BG Quiz 06 | Business Goa industry Dossier | May 2018

Cover Photo: Prasad Shirodkar

editorial Watershed moment for E-commerce May 2018 Editor & Publisher

Harshvardhan Bhatkuly Co-Publisher & Group Head

Urvija Bhatkuly

Advisory Board

Datta Damodar Naik Ralph de Sousa Rajiv D’Silva Swapnil Kamat Business Head

Annalise Gouveia Consulting Editor

Jonquil Sudhir de Souza Reporters

Anna Fernandes Ramrai Naik Samay Shetti Serilda Coutinho Admin & Accounts

Ashok Kolvekar Sandra Dias Art Director

Govit Morajkar Distribution & Logistics

Mayur Santinezkar Pritesh Naik

Contributors in this Issue

Daniel Albuquerque Dr Pradeep Salgaonkar Kishore Shah R N Misra Editorial, Advertising & Administrative Office

Business Goa

409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 0832-2437822 Email: Unsolicited material may not be returned. The opinions in columns and other stories expressed in Business Goa Industry Dossier are not necessarily that of the publishers and the Publisher/Editor shall not be held liable for any inaccuracy or otherwise. While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.

It was ironic that when Walmart CEO Doug McMillon shook hands with Binny Bansal as Walmart picked up 77 percent stake in what is India’s biggest startup success story, his co-founder and the once public face of the e-commerce industry was absent. Sachin Bansal had quit (or some say, he was asked to) Flipkart. The $16 billion infusion is touted as one of the biggest in the world. What Sachin and Binny did with the idea of e-commerce in India is perhaps stuff that movies are made of. Their funding journey had always made news. Flipkart received their first round of funding of $1 million from Accel Partners in September 2009. It received funding of $360 million in 2013. Flipkart raised $1.4 billion from Tencent, eBay and Microsoft, and acquired eBay India, last year in April. There were enough ‘influencers’ who took potshots at Flipkart for its loss-making spree, although investors never saw it that way. In a less evolved investor pool, one could have attributed this to the ‘sunk cost fallacy’ or ‘greater fool’s theory’. But with Accel, Naspers, Tiger Capital, Morgan Stanley, Sofina, Vulcan Capital and later Softbank, there was reason to believe that the investors were backing the right horse. Hours after the news of Walmart’s investment went public, the Bentonville, Arkansas-based retail major’s stock in the global markets took a hit, causing a 4 percent erosion of the Walmart stock value. For Walmart, Flipkart is another shot it wishes to take with the growing Indian market, four years after it broke its joint venture with Bharti for a cash-and-carry business. While Flipkart has invested billions of dollars of investor money to rapidly grow its business, its main bait has been deep discounts. Walmart’s investment would give Flipkart not just additional funds to fight Amazon, but also arm it with a powerful partner with extensive experience in retail, logistics and supply chain management. Clearly spelling out Walmart’s retail strategy for India. Walmart knows what it is doing. The

08 | Business Goa industry Dossier | May 2018

Harshvardhan Bhatkuly

investment is backed by solid data. To begin with, is the size of India, as the second most populous country in the world behind China. That, and the shifting consumer behaviour of a huge people force. India’s middle class is growing feverishly. Household spending growth is at par with that of China – much faster, than what a much mature market like the United States is growing at. The online shopping market is pulling the consumer from the old economy sellers. Last year, Indian consumers spent $21 billion on e-commerce, pegging it as the tenth biggest e-commerce market globally. The two corners of the online selling space that attract the consumers are the market leader Flipkart and Amazon, which incidentally poured investment of 2600 INR into its Indian arm, a few days before the Flipkart-Walmart deal happened. Investments are made with an eye on the future. And online retail in India is expected to grow 141 percent; more than $50 billion by 2021. This anticipated growth would be a clincher in Walmart’s decision to go ahead with the deal. Amazon’s global e-commerce revenue stands at $108.4 billion. India has overtaken China as Amazon’s most important international market. Having lost out China to Alibaba and, Jeff Bezos’ online venture is bullish about India. Amazon’s chief has committed $5.5 billion to India. In a letter to Amazon’s shareholders, Bezos claimed that Amazon’s India business was the fastest growing marketplace and its website was the most visited site on desktops as well as mobile devices. He also said that the Amazon app was the most downloaded shopping app in India in 2017. As Sachin Bansal had once commented, “The core of any business is to earn money. You have not done your job well until you find a stranger who is willing to open his or her wallet to give you money for the services or products that you are offering.” The Flipkart-Amazon battle for consumers has just begun

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



Deadline to prepare CZMP extended till Oct 30 The preparation and execution of the Coastal Zone Management Plan (CZMP) for Goa is likely to be delayed further, as the state has sought an extension till October 30 to finalise the plan. In November, the National Green Tribunal (NGT) bench headed by chairperson Justice Swatanter Kumar had set a deadline of April 2018 for all coastal states and union territories to submit CZMPs. The Ministry of Environment, Forest and Climate Change was expected to approve the plans by July 30, 2018. Failure to comply with the order will result in a fine of `5 lakh. The fine will be deducted from salaries of officers in charge of readying the plan. The state government delegated the task of preparing the plan to the Chennai-based National Centre for Sustainable Coastal Management (NCSCM),

Goa to be a logistics hub

Officials of the Union Ministry of Commerce and Industry have recently looked at the feasibility of turning the state into a logistics hub as envisaged by the government. Officials are expected to visit the Mopa airport soon to obtain an understanding of the logistic requirements of the airport. A meeting between officials and local stakeholders is scheduled to be held at the secretariat to discuss issues with regard to connectivity. Officials from the Airport Authority of India, Konkan Railway, Mormugao Port Trust, Goa Air Cargo Association, Container Corporation of India Ltd, and members of logistic companies are expected to attend the meeting. The Mopa airport will be commissioned in 2020, and the presence of two airports in the state would help position Goa as a logistics hub

asking the agency to conduct ‘ground-truthing’ to verify the accuracy of coastal maps. The institution submitted a new draft plan to the Goa government on May 9, 2017, making constituency-wise presentations to MLAs, who raised objections to it on various aspects. Sorting out the objections led to the delay. The government had asked for water bodies in the Coastal Regulation Zone (CRZ)IV to be clearly demarcated

as sea, lagoons backwater, creek, bay, estuary. “For such classification of the water body, the terminology used by the Naval Hydrographic Office shall be relied upon,” it had written to the coastal management institute. Following Central Pollution Control Board standards of water quality, the government also wanted fish-breeding areas and water bodies to be clearly marked as per pollution levels

Mining ban: Review Petition before SC The State Government will soon finalize the draft of a review petition to be filed in the Supreme Court, which had nullified the second renewal of 88 mining leases in Goa directing the state government to stop mining operations from March 16, 2018. The draft of the petition will be shaped according to the outcome of the special leave petition filed in the SC by some mining firms over ore transportation. Although some legal opinion had suggested that there would be no chance of obtaining a favourable order if the review petition was filed in the SC, the state government has decided to approach the apex court praying it to allow resumption of iron ore mining operations in the state. Chief Minister Manohar Parrikar, who has been undergoing medical treatment in the United States, has given

10 | Business Goa industry Dossier | May 2018

his consent to the proposed review petition. According to senior government officials, the Chief Minister has suggested three changes to the draft of the review petition that had been sent to him by Chief Secretary Dharmendra Sharma along with the ‘document’ on the opinion given a senior advocate. In its order on February 7, the SC had invalidated the second renewal of 88 mining leases in Goa halting mining operations. A month ago, a three member cabinet advisory committee had recommended that the government should file the review petition against the halt to mining operations even as advocate general Dattaprasad Lawande and additional solicitor general of India Atmaram Nadkarni had opined that there was no other option before the state government other than the auction route

Azgaonkar to oppose Central Govt’s heritage scheme

Manohar Azgaonkar

The ‘Adopt a heritage’ scheme by the central government of handing over Goa’s heritage monuments which includes forts, churches and beaches to a private agency, has come as a surprise to the state government. According to Tourism Minister Manohar Azgaonkar, the state government had received a proposal from the Union Ministry of Tourism for maintenance of some historic forts in the state and the Goa government had given its consent to it presuming that the Centre intended to provide funds for maintenance of these monuments. The minister added that there was no mention in that particular proposal about handling over these heritage monuments to a private agency. Accordingly, five of Goa’s heritage monuments – Old Goa Church Complex, Aguada Fort and lighthouse, Morjim Beach (famous for Olive Ridley turtle nesting sites), and Chapora Fort are listed to be handed over to the private agency Drishti Lifesaving Pvt Ltd under the scheme. Azgaonkar stated that he strongly opposes the Centre’s proposal and that he would not accept the scheme. The state government has now decided to discuss the issue in detail during a joint meeting between tourism department and other concerned authorities to be held soon

RERA Reg. No.- PRGO05180276



Barge owners look out to move out of state

President of The the GBOA members Goa Barge Owners have decided to opt Association (GBOA) for the facilities of IRS Raymond DeSa has and RSV-II for better revealed that barge prospects. owners affiliated with Raymond DeSa DeSa further the GBOA are in the process went on to add that GBOA of moving their barges out members are under crises of the state by registering the due to the closure of mining barges with Indian Registry of activities in the state, Shipping (IRS) class and also following Supreme Court by modifying vessels under order. “The loans availed River Sea Vessel (RSV)-II by barge owners has not yet which will cost ` 50 lakh. been cleared. Most of the DeSa stated that since the barges which were repaired future of the iron ore export by obtaining loans from the in Goa seems bleak some of banks and also by borrowing

loans from the relatives and friends are lying idle on the river banks,” he said. “We (GBOA members) have invested money to restart barges by repairing the same after the state government renewed the leases of the mines. But now again our business has come to a grinding halt with Supreme Court quashing the leases of the iron ore mining firms which has brought miseries on part of the barge owners and exporters,” added DeSa

MOEF okays Dabolim Airport expansion project Dabolim Airport is inching towards expansion following a primary nod from the Ministry of Environment and Forest for its proposed extension. The Airport Authority of India had submitted the project plan to the Ministry of Environment and Forest some time back to which it received permission from the MOEF recently. As the expert committee has identified the project’s terms of reference, AAI can now go ahead with the next stage of work involving expansion of the airport. The project identified as category A requires the AAI to specifically address issues such as justification of land requirement, status report on all compliances from the Goa State Pollution Control Board, layout maps of the expansion indicating runway, airport building, parking, greenbelt area, utilities, cost of project and time of completion, among others. Furthermore, AAI will also have to provide details on the impact of aircraft

emissions in different scenarios of idling, taxiing, takeoff and touchdown. The expansion project involves extension of the existing integrated terminal building towards the east by demolishing the old terminal building; there will have to be internal modifications of the existing integrated terminal building. The expansion also includes the extension of the existing apron towards east to facilitate the parking of code C aircraft. As per current traffic data, the Dabolim airport handled 6.85 million passengers in 2016-17. The existing integrated terminal building which handles both domestic and international passengers is

near saturated therefore it needs expansion to cater to the passengers’ convenience. The airport is expected to handle 11.22 million passengers by 2020-21. This is the second capital expenditure plan of the airport in 2018. In January, the AAI received environmental clearance for a modernization project involving runways. The modernization project costing `183.4 crore will increase the future runaway capacity of the airport and reduce turnaround time for aircraft. The AAI has indicated that expansion of the Dabolim airport will cost it `400 crore. The expansion is expected to ease traffic and help the airport handle more flights and passengers

New Private Forests Review Committee

Forest Department has constituted new Private Forests Review Committee to review Private Forest areas identified by North and South Goa Forest Division Committee which were constituted in November 27, 2012 for identification of private forest and earlier Sawant and Karapurkar committee. It is informed that in view of the grievances received from citizens and NGOs regarding inclusion and non inclusion of certain areas as private forest and in order to ensure an uniform approach towards the issue the new Committee has been constituted by the Forest Department. The new Private Forests Review Committee comprises of Dy. Conservator of Forest, Working Plan Division, Ponda as Chairperson and Director, Settlement and Land records, Panaji, Additional Collector of Revenue Department dealing with land records of North Goa District, Panaji, Additional Collector of Revenue Department dealing with land records of South Goa District, Margao, Asst. Conservator of Forest, Head Quarters of North Goa Division, Ponda, Asst. Conservator of Forest, Head Quarters of South Goa Division, Margao, Sandeep Azrenkar (Environmentalist, Margao) Shirang Jhamble, (Savoi-Verem) are members of the committee, also the Chief Forest Surveyor of Forest Department as Member Secretary

New BoD at Goa State Minority Finance and Development Corporation Ltd Goa State Minority Finance and Development Corporation Limited (GSMFDC) has reconstituted its the Board of Directors. The Board of Directors comprise of Jose Orlando Menezes, as Chairperson,

12 | Business Goa industry Dossier | May 2018

Smt. Ashma Sayed, Margao as Vice Chairperson and the following directors: Salim Isani (Mapusa), Samsher Khan (Ponda), Mustaq Mohiddin Shaikh (Corlim), Antonio Inacia F Froys (Ribandar), Sayyad Nassir,

(Sanguem), Aslam Shaikh, (Margao), Carl D’Souza, (Mapusa), Mustak Ahmed Sheikh (Porvorim), Secretary, Department of Social Welfare and Director, Directorate of Social Welfare


Goa Startup Policy, launched by Minister for Information Tedchnology Rohan Khaunte and Union Minister of Commerce and Industry; and Civil Aviation Suresh Prabhu By samay shetti


oa Startup and Innovation Day marks a pivotal point for the trajectory of this tiny coastal state. On April 2728, 2018 an inaugural was held at Panaji, comprising a high level conference on entrepreneurship. The event was decked with pitches by startups, views of the investors and the unveiling of authoritative documents on the ‘Goa Startup Policy’, ‘Goa Startup Schemes’ and ‘The State of Goa Startup

Ecosystem’. This comes as the first step towards realising the dream of making Goa the most preferred start-up destination in India and also one of the Top 25 startup destinations of Asia by the year 2025. The foremost target of this mammoth initiative is to carve out at least 100 startups from the state in five years. Goa, over the decades, has created a unique identity for itself – just the mention of its name would bring sounds of crashing waves, glimpses of serene hills and wafts of

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the sea breeze to one’s mind, a perfect place to relax and leave the stress of a hectic life behind. Well, that’s exactly what makes Goa uniquely suited for being a cradle for innovation and ideation. In the words of Anil Chikkara, Chairman Startup India Foundation, “If Goa were a startup, the unfair advantage of Goa would be that it is Goa!” Speaking at the inaugural, Union Minister of Commerce and Industry and Civil Aviation of India Suresh

Prabhu shared his views on the growing trend in the nation saying, “I have travelled across the country seeing many startups being created. I have witnessed 17-year-olds come up with phenomenal ideas. I am confident that women will be at the forefront of the startup ecosystem too and will be leading more startups.” He went on to say, “I am sure Goa will be the next destination for becoming the hub of global ideas. Startups will be the ‘new engine’ for the growth

kickstarting the

startup phenomenon The Goa Startup and Innovation Day hosted recently sounded the bugle for the state’s intent to be a preferred startup destination in the country. A host of initiatives have found mention in the Startup Policy and Startup Schemes launched at the occasion by Minister for Information Technology Rohan Khaunte

of Goa.” Prabhu also spoke about Goa being projected as a logistics hub, leveraging its excellent connectivity by rail, road, sea and air. Over the past few years, Goa has seen a tremendous increase in the number of startups and entrepreneurial ventures. A gradual shift in the mindsets of students towards entrepreneurial careers has not missed notice. Taking these into consideration, along with national and global trends, the Government of Goa came up with this ambitious initiative of boosting the startup ecosystem. Towards this purpose, the required infrastructure is being set up and also a network of angel investors and venture capitalists is being created with Dempo Group taking the lead. Rohan Khaunte, Minister of Revenue, IT, Labour and Employment, Government of Goa, who made the Goa Startup and Innovation Day possible, spoke with great enthusiasm and fervour, too. Emphasising the importance of Information Technology, and its allied domains, he stated, “The vision is to develop and to promote the IT sector in Goa, The startup policy is part of the IT Policy.

There will be another policy released in a few months that will be for new and existing IT companies that want to set up or expand in Goa.” He went on to add, “Goa now stands for Golden Opportunity Available.” And in his speech, he reiterated why Goa can and should become the ‘Startup Capital’ of the country. Goa seems to be an attractive place specifically for investors and entrepreneurs, also because of the IT infrastructure support for startups, responsive policies by an enthusiastic government, a better quality of life, its central location and good connect with all the metros, ease of doing business and the industry and academia connect. “We have a lot of interest from young engineers to relocate – for freshers below 27, Goa is almost a dream destination to work in,” says Saurabh Nanda, founder of Vacation Labs. The same sentiments were echoed by a number of keynote speakers and panels over the two-day event. According to Madanmohan Rao, research director at YourStory, “Goa has always been known by the three Ss of ‘Sun, Sand and the Sea’, but now it shall include

three more, Software, Silicon, Startups,” adding that, after tourism, the next wave of jobs and creativity will come from the IT sector, electronics, and entrepreneurship. The policies that have been put in place to facilitate this whole endeavour includes schemes for IPR reimbursement, matching grants, R&D reimbursement, skill development, trademark reimbursement, incubation centres, seed capital, coworking space subsidy, and technology fellowship. Other than that, a ‘Startup Promotion Cell’ will also be formed as a nodal agency, along with infrastructure for incubators and accelerators. The conference featured an expert panel on how Sweden, Switzerland, Canada, UK and France have developed innovation capacity and bilateral links for startups in their respective countries. These include fund of funds, startup challenges and competitions, tours to innovation hotspots, and the creation of testbeds for emerging technologies in sectors such as Industry 4.0. The IT and startup sectors have the right profiles for the next wave of Goa’s transformation, according to

Praveen Volvotkar, Deputy Director, Department of IT, Goa. A knowledge-based vision should be part of Goa’s growth, he said. The government will also promote an annual global startup event in Goa, along with a range of infrastructure initiatives including a new high-capacity airport. Partnerships have also been formed with the government of Telangana and T-Hub; this will include, for example, collocation of a leading global blockchain conference in Hyderabad as well as in Goa in August this year. The startup ecosystem in Goa has been growing increasingly benevolent and learning from the successes and challenges of the startup boom in larger Indian cities, the state now leverages its unique strengths to become the next startup hotspot. Speakers from CIBA, Startup India Foundation, Goa Technology Association, T-Hub, iSPIRT, Prototyze and 91Springboard shared insights on how the broader ecosystem for startups now includes industry associations, incubators, accelerators, maker-spaces and co-working spaces. A significant role will

May 2018 | Business Goa industry Dossier | 15

CoverStory also be played by successful startups in India to develop this nascent ecosystem further by setting up a development or design centre in Goa. Such strategies have helped Chennai become the SaaS (software as a service) startup hub of India, for example. Successful Goan investors and entrepreneurs abroad can also give back to their homeland and build ‘silicon bridges’ between Goa and the rest of the world. Funding is always a risky business given the risky nature of many startup ideas, but nonetheless funding plays a major role in entrepreneurship to increase the run and success rate. Representatives from Mumbai Angels, Unicorn India Ventures, Qualcomm Ventures, LetsVenture and Dr Reddy’s Garage 5B shared their views through panel discussions. Investors should be attracted to place bets on startups in Goa and set up regional offices in the city, but investment funds out of Goa can also be created. “Invest in Goa” can dovetail with “Invest from Goa,” according to the panel. The formation of Goa Angels, a network of angel investors from Goa is a


The Goa Startup Policy, Goa Startup Schemes, and a report on The State Of the Startup Ecosystem in Goa. The policy will go a long way in fostering the entrepreneurial ecosystem in Goa

welcome development in this regard. According to the speakers, the best time for startups to raise funds is during the early stages of a tech boom, or after proof of concept has been solidly demonstrated. Effective story pitches to investors should have passion, clarity and unique differentiators. They also discussed, in detail, the qualities they look for in a team when they are approached with a pitch. With a broad ecosystem and policy support, the opportunity for startups in Goa is on the path to rising to the global levels and develop a wave of market-leading businesses. Tips on productmarket fit and unit economics were offered by veteran entrepreneurs from HouseJoy,

Grofers, Umang, and Nucleus Vision. Attitudes towards failure also need to change, so that it is embraced as an important source of learning. The sharing of more such ‘failure stories’ will increase the overall resilience of Goan startups, according to the panelists. Many tech founders also don’t have a clear grasp of unit economics, which can ultimately lead to costly errors or even failure. There should always be a clear line of sight between product, performance, value and profit, they shared. A number of surveys and reports cited by speakers reveal that Indian entrepreneurs have confidence, but need more ambition; they are great at the ideation stage, but need to plough on to scale stage;

they are good at technology, but need to improve in design and business growth. Other speakers also stressed the importance of a more inclusive innovation ecosystem, with adequate representation and support for women entrepreneurs. Along with profit motive, social responsibility and environmental conservation should be key considerations. Entrepreneurship in Goa is on a cusp of change and is poised to climb high; create value, jobs and varied new possibilities. With a brand new policy in place already, the state stands confidently with purpose and promise. With the Goa Startup and Innovation day, the state has witnessed a dawning of a new era; an era where ideas would be celebrated, innovation venerated and both will be smelted and forged into gleaming enterprises. With the stage being set, all that remains is the onset of a barrage of ideas, sane and crazy alike! In Suresh Prabhu’s words, “There are crazy people and then there are lazy people. The crazy ones are those who will succeed. They’re the ones who take the unconventional path and succeed”

Mumbai Angels Network to handhold Goan counterpart Goa has started gearing up towards becoming a startup hub as officials from Mumbai Angels Network (MAN), one of India’s leading angel investing and mentoring network, met up with Goa Angels Network and local industrialists recently. MAN will be providing collaborative support to the Goa Angels Network until it is up and running. In addition, it is also likely that MAN could start a Goa chapter. The meeting was an ‘investor showcase’ event and MAN members shared information on the kind of startups funded by them, the funding process, the returns to investors, and so on.

Goa Angels Network announced at the Goa Startup and Innovation Day 2018, in the presence of Nandini Mansinghka, Purushottam Modani, IT Minister Rohan Khaunte, Ameya Abhyankar, and Union Minister Suresh Prabhu. Also seen are Chief Secretary Dharmendra Sharma, industrialist Shrinivas Dempo and hotelier Ralph de Sousa

MAN chairperson Nandini Mansinghka presided the meeting, which was attended by IT Minister of Goa Rohan Khaunte and IT secretary Ameya Abhyankar. The Goa Angels Network was announced at the Goa

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Startup and Innovation Day 2018 event on April 27-28. Chairman of Dempo Group of Companies, Shrinivas Dempo is the founder member of the network, which is in the formative stage. A top angel investing and

mentoring network, MAN has 250 plus members across six chapters in Mumbai, Delhi, Bangalore, Pune, Hyderabad and Kolkata. The portfolio of startups funded by it is diverse and includes major success stories such as Myntra, InMobi, etc. Speaking to local industrialists, Mansinghka said that payback from investing in startups is attractive with an average internal rate of return of 35 percent. The due diligence team of the network scrutinizes funding requests from about 500-1000 startups annually out of which only 10 percent finally make the grade



“Goa will be a preferred startup destination”

Minister for Commerce and Industry Suresh Prabhu has been saying that Goa has the potential to be the startup capital of the country. We spoke to Goa’s IT Minister Rohan Khaunte at the recently concluded ‘Goa Startup and Innovation Day’ to find out what measures the state government is taking to facilitate this What are the key factors of the recently introduced Goa Startup Policy? Goa is unique; the vision and focus is to be in the first 25 destinations in Asia – as far as startups are concerned – by 2025. With that vision, we have gone ahead and provided the basics like stamp duty, internet, power, salary… There are so many reimbursement incentives that are outlined. The most important is salary reimbursement, which takes care of almost up to `10, 000 or 50% of the salary, whichever is more and, secondly, recruitment. Through recruitment incentives, the industry takes beneficiaries through college; an additional incentive is given at that level. All the things which have been driven out, like creating human capital, or allowing industries to be more vibrant. We already have about 100 registered startups in the state; that does not mean that they are not surviving. But we need to create the ingredients for the system. The policy and schemes are driven for those looking at an angel network, seed funding, a venture capitalist, support from the government… because the government cannot get involved with business, but can only be a facilitator. What are some of the incentives that the government of Goa plans to introduce pertaining to startups? Startup cells have to start. I think April 27-28 is historical for the state as far as the event goes because a new initiative has started. The IT policy is coming in, IT schemes, the Electric Vehicle policy, cluster policy, etc. These systems will drive the ecosystem which has hitherto not existed. All this has been done with two factors in mind – revenue

far as Asia is concerned – this is the vision that we carry. For that, we don’t need numbers, but quality and how many success stories we can create. Because success will breed only out of innovation, and Goa is the place for that.

“we need private entities to be players, as equity investors, or as venture capitalists – to be stakeholders in the ecosystem”

creation and employment generation. So skill development, getting people industry-ready… these are the things the government is looking for. Today, all inputs that have been considered are from private industry. People like Mohandas Pai and Shrinivas Dempo, who have done a lot in their own businesses are on the council – suggesting and advising us how to proceed. For angel networks, Shrinivas Dempo comes forward and is the first anchor to take things ahead. So, there are Goans doing their bit for their state. There is also a need for vision and focus on how to create a vibrant IT ecosystem in the state. In order to do this, one has to consider not only the startup, but also IT infrastructure to support these systems. As far as the syllabus is concerned, we need to start looking at the whole ecosystem in terms of various levels, creating the

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industry for the next 10-20 years. So, it’s not a vision for today or tomorrow; we need to create this space. This space is available; there are opportunities available and Goans should take maximum advantage, as far as policies and schemes are concerned. We need to be job givers, not job seekers. What is the state government’s vision for the tech ecosystem, over the next three years? The first year itself should give us success stories. Goa is a preferred destination. We have a big fraternity of digital nomads coming down, which is unknown, unregistered. But we would like to concretely create an employment scenario of say 5000 in the startup ecosystem in the next five years. We would like to make Goa one of the most preferred startup destinations as far as the country is concerned and as

What are the major challenges that need to be addressed to make Goa the top startup destination? I think exposure is important. We, as the government, are expected to do a lot for startups. That is why we need private entities to be players, as equity players, or as venture capitalists –to be stakeholders in the ecosystem. So when you have whole drivers in place, the policy itself automatically takes a turning point and then you find people entering in the system. Industry expectations are addressed in the policy. Most of them are taken care of; the schemes have been outlined, so I think this is enough of a booster to take Goa to the next level, as far as startups are concerned. As the startup culture grows, the government is flexible and more than willing to accept new ideas, new thoughts, as we believe that we should enter a space which is untapped. We strongly believe that we should make the most of niche segments like 3D, Artificial Intelligence; we need to look into Virtual Reality, augmented reality, and the like. I think these are spaces which have not been focused on as far as the country is concerned. And you have so much of an opportunity here to create employment, at the same time, create a structured industry for these players. I think this is what we will look forward to. What can we expect from the upcoming Goa IT Day next month?


The Goa Government is putting things in place. Things which we want, or should have been done in the past are now being put on paper and being formalised. We put in efforts and work with a passion towards the goal, the ones that makes us smile... and that is seeing a success story. We want to have the right investors interested in this policy. Goa has space constraint so I can’t give you the kind of land available in other states. Which is why we need the right type of investments; we need to look at the right type of investors coming down. We need some labels from Silicon Valley coming down. At the same time, we need to balance ourselves with the ethos and culture and traditions of the state. It’s a balanced approach that we want to use to ensure that the right industries come to the state. And the whole focus area is employment. So

With the vision of making Goa one of the most preferred startup destinations in India and among top 25 of Asia, the Goa Government has drafted a Startup Policy with the following objectives i) To make Goa an aspirational geographical and human resources base for high value startups. ii) To invite the best entrepreneurial minds to make Goa their professional base, and thereby build a robust startup eco-system in the state. iii) To provide assistance to Goan entrepreneurs and local startups. iv) To endeavour to create at least 100 successful startups in Goa in the next five years, targeting generation of employment for at least 5000 Goans. v) To develop minimum 2,00,000 lakh square feet area for technology innovation and

incubation centres in the next five years. vi) To infuse technologyenabled real-world problemsolving skills into the Goan education system through collaboration between industry and academia. vii) To create an eco-system that makes it easy for Goan students to acquire technical skills required for employability and professional growth in the startup space. viii) To ensure continuous evolution of policy measures and creation of a responsive policy framework for accelerating growth of the startup ecosystem. ix) To facilitate creation of dedicated funds for providing various types of support and impetus to startups

direct employment of locals and making them industryready are the drivers. I would look at actually celebrating an IT day next year. This is the start to ensure that we have arrived as far as the startup scenario is concerned. What is your message for Goan startups Innovation, research… anything out of the box can be a startup. I would only say… it’s time for you to kickstart yourself. Look at being an entrepreneur. Look at getting yourself out of the box and try to make yourself sell as a success story which can only say that Goa has something to talk about. Every startup will have issues; the Goa Government has outlined the policy, and I am pretty sure that with the support of the government, there will be success stories and I would be happy if each startup is a part of this story

May 2018 | Business Goa industry Dossier | 19


Building bridges to provide solutions

‘The Conclave – an initiative towards growth in employment for local youth’ had HR officals of industries and government officials sit down to chalk out solutions to deal with employment-related issues

(L-R): Praveen Sabnis, Ramrao Wagh, Blaise Costabir, Jayant Tari, Christopher Fonseca, Rohan Khaunte, Sandip Bhandare, Mangirish Salelkar, Ralph De Souza, Rajkumar Kamat and Harshvardhan Bhatkuly


By samay shetti

he business scape of Goa is witnessing a massive makeover. Since Goa Innovation and Startup Day, cogs and gears have been set in motion. Recently, the Government of Goa – through the Office of The Commissioner, Labour and Employment – came out with an initiative called ‘The Conclave’. Aimed at growth in employment, this conclave brought together general managers and human resource managers of different industrial establishments. Bringing together key people in control of changing scenarios, the idea of the Conclave was to bridge the gap between industry and Government so that—through discussion and sharing of information— various clogs and blocks could be identified and cleared, ensuring the increased efficiency of state machinery and a boost to solve the problem of unemployment. The event saw encouraging speeches by Minister for Labour and Employment Rohan Khaunte and Commissioner, Labour and Employment Jayant Tari. The Minister referred to the present scenario of commerce in Goa and the challenges that lay ahead. Khaunte also emphasised the importance of ‘sharing information’. This was followed by a panel discussion where the esteemed panellists discussed and shared views

on different ways to make the entire machinery more efficient and on how every department and sector of both industry and state can collaborate and contribute towards the purpose. The panellists included representatives from business houses, academia and organisations, who work actively to shape and nourish the business ecosystem in Goa. Names like Rajkumar Kamat, president, Goa State Industries Association; Sandeep Bhandare, president, Goa Chamber of Commerce and Industry; Blaise Costabir, MD, GMI-Zarhak Moulders Pvt Ltd; Ralph De Sousa, executive committee member, Travel and Tourism Association of Goa; Ramrao Wagh, Professor, Goa University; Mangirish Salelkar, President, Goa Technological Association; Christopher Fonseca, president, Goa Trade and Commercial Workers Union were joined by minister for Labour and Employment, Rohan Khaunte. The discussion was moderated by Harshvardhan Bhatkuly, editor, Business Goa. The discussion started with a question directed to the Minister, asking his opinion about pushing forward the whole endeavour ahead and the role of Industries in it. In his response, the Minister touched upon many points. Emphasising the role of the Industries he stated,

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“Industries are the main drivers of any economy.” He added that the government can be a facilitator of business, but cannot get into it, and it will do everything in its capacity to ease and boost the business environment in Goa. He also emphasised that to ensure collaboration and growth, “all policies need reciprocation from the industry.” Khaunte also addressed the false notion that Goans are sussegado, and not enthusiastic about working, which is a gross untruth. To illustrate his statement, the Minister cited the examples of pharmaceutical and IT industries in the state where Goan youth work day and night – in three shifts – diligently, with motivation to prove themselves. The issue of disparity between salaries in some sectors found mention too. He opined that Goans are paid far less for the same work in comparison with their non-Goan counterparts, because of this false notion. Recognising the brain drain, the Minister pointed out that the objective should be to keep Goan talent in Goa by creating a conducive career environment for them in the state itself; and that this must be taken up as a social responsibility by industry. When the discussion veered towards the preference of government jobs vis-àvis the private sector, Sandip Bhandare said, “All over India,

government jobs are attractive as compared to their private counterparts.” He added, “It is to such a degree that it’s not uncommon to see doctors, engineers and sometimes PHDs too applying for government jobs of clerical nature.” He said that this happens because of certain factors and notions, narrowing it down to a sense of certainty and security that a Government job apparently provides. Along with that, another major factor is the pay difference between the two domains. He went on to share an observation on the difference in the way industry looks at the pay scale compared to the employee. He observed, “Industry considers performance and output that the employee will provide and the employee looks at the job from the perspective of his cost of living and aspirations vis-à-vis the pay.” Bhandare further added that it is the duty of industry to reduce this gap by providing apt training to employees to boost performance. Thus, in return for good pay, industry also gets value for money, and the employees stay on board. When questions were raised on the gap between salaries offered by SMEs and MNCs, industrialist Blaise Costabir reiterated the point that locals are second to none as employees. He mentioned that Goans are preferred as employees world over because they are hardworking and honest. Costabir said that SMEs cannot match the salary of MNCs, but what an SME can definitely do is provide experience. Going on to further illustrate the difference between the two, he added, “In an SME, there is a wide variety of jobs that an employee can choose from, as compared to a fixed


profile of an MNC; and no SMEs should try to match the MNCs. The SMEs have their own advantages which they must identify and harness.” This helps the employee to further their career too he added. Costabir said it works both ways, as a person grows, he becomes experienced, expensive, and moves on to an MNC, while a new recruit replaces him. He stated, “SMEs are more like training grounds.” They must go about recognising their strengths and unique placement in the spectrum and this must happen on both the employee side as well as the industry side. Adding to this, Rajkumar Kamat, noted, “There is a need to identify mindsets, and opportunities must be created for those who really want to work.” He further shared an observation that, sometimes it’s the glamour that matters.” Youngsters choose MNCs for

glamour, even if a salary is offered on par to it by an SME. So, while SMEs may not hire the best employees, a good attitude can be inculcated, which can make them the best employees. Kamat also brought attention to the robust and flexible nature of Goan employees. He spoke about the collaborative nature in which Goan youth works and their malleability for being moulded easily into a desired work culture. Ralph De Sousa shared his views on employing more Goans in the tourism and hospitality sector. De Sousa pointed out that tourism in Goa is a growing business as new and newer establishments are coming up. He made an interesting observation, “Goans are naturals at hospitality; they don’t require any training.” He pointed out that, in Goa, hospitality is learned from home, looking at how

cordially guests are treated. He noted that this puts Goa in a very unique position, “There are 43% repeat clients as they know these people on a personal level because of their hospitable nature.” He also spoke of the trend of youth joining the hospitality industry in the state, only to garner experience and then move on to other countries or work on cruise liners. This leads to huge gaps, especially in the production side. These gaps are difficult to fill as there are fewer people who desire to go into production, unless they are from hospitality institutes. In which case, they aim for well known hospitality chains. The discussion then moved towards academia and its role to foster greater employability. Addressing the topic, Ramrao Wagh stated that universities provide education in general, with an expectation from their products to have

application. He added that the most important quality in a student or an employee is the ability to learn. Rather than spoon-feeding them, more emphasis must be laid on self studies and growth in that direction. He noted, “From the traditional model of reading, writing and arithmetic, we need to move to imbibe comprehension, computation and communication – which would have a combined effect on increasing the employability of a student. He also referred to many initiatives in place for the purpose, like community colleges, professional courses and so on. Wagh also suggested use of online courses to enhance the system. He concluded that there cannot be tailor-made job courses for industry as the objectives of a university education are manifold, and that employability is just one

May 2018 | Business Goa industry Dossier | 21

FocusGoa of that. Blaise Costabir added his views on the subject, saying, “Faculties also need to learn as they are also freshers!” He suggested a 3-4 week period of industrial training to enable a better understanding of the requirements. Christopher Fonseca, while speaking on work ethics among Goan employees said, “Goan workers are second to none; there is nothing like susegado.” To illustrate the robustness of Goans as workers and employees, Fonseca cited the growth of the MRF tyre factory in Goa with 90% Goans on board. The growing startup culture in Goa was a point of discussion at the Conclave. Mangirish Salelkar mentioned the first survey conducted by the Goa Technology Association, which uncovered the fact that 150 tech startups were already registered in Goa in the year


2015. He is presently in touch with 180 tech entrepreneurs in the state. Salelkar also brought up the negative trend of startups being formed just because there are no jobs, something that ruins the ecosystem. Further referring to salaries, he pointed out that an engineer should at least receive a basic respectable salary of `10,000 for sustenance, in the beginning. This a criterion addressed in the state Startup Policy. He lauded the enthusiastic government for its part in boosting the ecosystem. Rohan Khaunte spoke about creating taskmasters and frameworks to make graduates industry-ready by collaborating with industry organisations. Also speaking about the upcoming IT Policy, he said that the government aimed at bringing Goan talent back to the state. Additionally, Khaunte

highlighted the importance of counselling in the industry and even before procuring a job to gauge the best fit for the employee rather than the traditional fixed approach. He concluded, “When a support system is created, only then an ecosystem flowers.” Ramrao Wagh added to the discussion, citing his observation of startup fever in campuses. He suggested that students be challenged to come up with solutions for the problems faced by different industries or the government. Stating that this could turn into a business opportunity, Wagh also said the government could perhaps assign students tasks or small contracts. Ralph De Sousa highlighted a few finance schemes floated by the government to boost selfemployment in the state. He referred to schemes like

the Chief Minister’s Rozgar Yojana (CMRY), which is an initiative of EDC. He added that there is a 93% recovery rate from these loans through the beneficiaries. De Sousa said that up to `20 lakh could be funded for self employment and that the same was at really attractive interest rates (4%) and with only 10% self-contribution. Rajkumar Kamat also spoke about the funding and mentoring facilities by GEMS and EDC. More importantly, he spoke about the importance of counselling parents too, to let children follow their passion. He concluded, “A passionate person is a productive person.” The Conclave concluded with a fantastic discussion and sharing of ideas, which Labour Commissioner Jayant Tari said were noted and would be considered

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Buland Shukla

For the Record

In a bid to popularise the burgeoning trend of vinyl in Goa, Buland Shukla set up Audiophile Goa, a one stop shop for music aficionados

Buland Shukla, Founder, Audiophile Goa, channeling his inner Eric Clapton

By Anna Fernandes


hen Edison invented the phonograph in 1877 after experimenting with scratchy recordings on tinfoil, he created a pursuit that would go down in history as one of the most loved – listening to music, which was considered to be a temporal, fleeting experience, a cherished activity. As technology evolved, so did the methods of listening to music. From the phonograph, the gramophone, and vinyl records to reel-to-reel tape, cassettes, the 8-track, and compact discs, to MP3 files that can fit on a tiny flash drive. Never before has it been as easy or as cheap to access music than it is today. Against this backdrop, an unforeseen development in the music industry has been the recent comeback of vinyl. Those new to the concept may tend to associate vinyl records with this image – “a crackly black-and-white opera singing lady growling through a horn”. But for audio-enthusiasts, the revival of vinyl signifies the dawn of a musical renaissance. A pioneer of this musical renaissance in Goa is Buland Shukla. An architect at the firm Heritage Acoustics that focuses on restorations, a

“I picked up my first record at a flea market almost 15 years ago, not knowing what it was. There was something fascinating about its mechanics, about how a mere scratch on a piece of plastic could produce music” musician for the gypsy jazz band The Banjara Quartet, a consultant for high-end audio setups, and recently the founder of Audiophile Goa, Buland Shukla is indeed a man who wears multiple hats, metaphorically and literally. Through Audiophile Goa, Buland strives to revolutionise the way music is experienced. Experiencing a vinyl record involves owning the physical copy, held in a sleeve with album artwork that you can gaze at whilst the music is playing; sitting with friends by the record player and listening without interruption, giving all your attention to the quality of music; and physically flipping the record when side A finishes. For those looking for such an enriching musical experience, Audiophile Goa is the perfect venue, allowing for

24 | Business Goa industry Dossier | May 2018

the appreciation and attentive listening that those decades before us could enjoy. “I picked up my first record at a flea market almost 15 years ago, not knowing what it was. There was something fascinating about its mechanics, about how a mere scratch on a piece of plastic could produce music.” This fascination, coupled with his intense passion for music, led Buland down a journey that led to the setting up of Audiophile Goa in late 2017. However, as mentioned earlier, with music so easily accessible digitally today, some of us might wonder, why vinyl? Buland paints us a picture, “You know as kids we used to play with Lego blocks. So, let’s say, you make a Lego model of a building, such as the Empire State Building or the Eiffel Tower. Even though we haven’t been to any of these places, in our mind this model is good enough to give us an idea of what building it is. From just a Lego representation, you can tell that it is the Eiffel Tower. But, obviously it is not even half as close as the real thing. That is what digital music is like. It’s just the compressed form of the actual source file.” Analog music represents the actual, continuous sound waves generated by the artists and their equipment, recorded on vinyl as grooves. These meticulously engraved grooves produce a crisper, more authentic sound. The grooves reflect the original sound’s waveforms, resulting in no information loss, and a more accurate and richer sound. So, despite the great deal of inconvenience, and not to mention the greater cost, diehard audiophiles of today are putting in the effort just to experience this

authenticity that digital music has eliminated. Located in the old Latin quarter of Fontainhas in the heart of Panjim, Audiophile Goa’s interior embodies rustic hues and sepia tones, reflecting an old world vibe. This, coupled with the crisp reverberations of the past, offers anyone who wanders in a trip back in time. While the idea of Audiophile Goa was conceptualised years ago, bringing it to life was a long process. The journey of setting up Audiophile Goa was peppered with minor challenges, each of which Buland faced head on, from locating a suitable venue, to sourcing the records, making decisions about the highend equipment and finding investors. Speaking about all the R&D that went into creating this venture, Buland says, “Getting potential investors to back a large capital venture is difficult. Thankfully, we managed to get investors on board who understood the vision I had. We did the best that we could. I spent two years listening to every possible system available in India and abroad and curating a list of products that would be the absolute best value for money. I also started importing records as if it were for my own collection. It was all worth it. Now we are the sole distributors in the country for certain labels, which is amazing.” In the initial days of Audiophile Goa, Buland focussed on creating awareness about the vinyl trend; in particular hosting what was known as Vinyl Club Sundays – low-key listening sessions, for audiophiles to listen to records and discuss the history of the artist and

the context of the record. Originally from Ahmedabad, Buland moved to Goa almost a decade ago. On asked why he decided to set up his venture in Goa, he says, “People tend to look elsewhere for vendors and services, rather than Goa, opting to buy items from Mumbai or Chennai. I want to change this attitude. In fact, this is one of the reasons why we decided to set up a store which would be incomparable to any other establishment in the country, with regard to our services and audio equipment.” One can find vinyl records, turntables, phono stages, tube amps, loudspeakers, high-end cables, cleaning equipment and more here. Audiophile Goa is truly a haven for audio enthusiasts in the state. In just a few months of operation, Audiophile Goa has garnered quite an impressive

An original 1964 pressing of Louis Armstrong’s Hello Dolly

following and reputation. With a clientele that spans different demographics, from millennials who are drawn to the private listening sessions out of curiosity, to the greying population yearning for a chance to listen to the nostalgic tunes of their youth. “Our main clientele is this middle age group between late thirties to late forties, more women than men. Our real spenders are women. I think this is because the appreciation for charm and value for money is more prevalent in women than men. Other clients would be people who already own

records and t u r nt a b l e s . We also get a lot of young adults who want to start listening to vinyl now that they have an option to do so.” In the very nascent stages of Audiophile Goa, when he was still approaching potential investors, Buland was often asked if there was a market for his product. “I hate that question,” Buland says candidly, stating that one needs to create a market rather than trying to cater to a pre-existing market. “The market of a particular society is tied to its culture level. If you try to establish a business that revolves around serving a market that already exists, the culture level remains stagnant. It’s up to you to

create a new market. If you introduce people to new things, they will accept it. And consequently, the culture level of that society evolves. The culture of a society is extremely mouldable,” he adds. Looking ahead, Buland says, “We definitely want to expand to more cities, and secure partnerships with like-minded people who are equally passionate.” With the bustling ecosystem of turntables and records surprisingly close to being mainstream and yearly sales world-over increasing by 70%, the vinyl phenomenon is taking the world by storm, leaving digital music in its dust. It sure looks like the vinyl trend is not just a passing fad, but one that is here to stay. With Buland hitting all the right notes in this business, he is indeed revolutionising the audio world in Goa

May 2018 | Business Goa industry Dossier | 25



Daud Electricals

Leading light

Daud Electricals has been lighting up homes for 80 years now, and third generation entrepreneur Shaikh Abdul Majid has plans to make it shine even brighter

Daud Electricals

“When I first decided to join Daud Electricals, Tahir Daud Carol was my mentor. And although it was first a responsibility; today, it is purely a passion. Now, I even have my own manufacturing unit and finishing studio in Taleigao”



aud Electricals was started in 1938 by Daud Carol in Mapusa. Today, this legacy is being carried forward by a member of the third generation, Shaikh Abdul Majid, who is a light designer. Abdul has introduced quality lighting to Goa, with his innovative approach and advanced designer light fittings available exclusively at Daud Electricals stores across the state. With branches in Mapusa, Margao, Vasco and Panjim, Daud Electricals provides customised light fittings and furniture with lighting while also refurbishing old handmade lamp shades. They also service products at chip level, especially LED lights. Daud Electricals also has a special team for consultation, site inspection, planning and execution. Daud is known for its versatile lighting range, including Indian and imported brands. Some of these brands are Phillips, Wipro, Havells, Greatwhite,

Shaikh Abdul Majid

Anchor and Kolors. In fact, Kolors – a brand of designer switches – was exclusively introduced in Goa by Daud Electricals. Another brand that has been the backbone of this business is Hybec. Abdul is also the official lighting designer for this brand. Apart from this, he is also the contact person for Zumtobel Lights and is working with RIO lights too. Daud’s wide range of products caters to budgets as low as `250 rising up to `25 lakh. Daud Electricals also specialises in customised

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handmade light fittings that have recently made their appearance in Goa through their in-house brand, Marichii-Ray of Light. Launched two years ago, Marichii has already established itself in the market. This is evident by the fact that it supplies more than 10,000 light fittings and has been used in projects consisting of 140 hotel rooms and 45 apartments. Many architects have also approached Daud for their customised lighting and consultancy services. Abdul’s advice for those who

invest in LED lights is that “while choosing LED lights, you should buy only after proper consultation with the electrician depending upon the requirement, just like medicines are taken only when prescribed.” Sharing his biggest achievement of creating his own line of lighting products, Abdul says, “We can make light fittings from wood, glass, fabric, acrylic, metal or refurbished materials to convert them into light fittings. For instance, if you have extra bricks left with you after the house work is done we can incorporate them into the light fittings”. Through their brand, Abdul has also promoted a number of local artists, “I am ready to teach anyone who wants to learn as I also struggled when I started working.” With a background in law, Abdul had no prior knowledge of the technical aspects of lighting. He acquired this knowledge over the years by attending seminars, through books and even through Google – his guide even today. Abdul’s career path makes for an interesting story. He completed his LLM and went to Saudi Arabia as a supervisor, but was accidentally issued a work permit in the ‘Labour’ category. He was relieved when his boss, who interviewed him for the supervisory position, recognised him and asked him to meet him in his office. This incident completely changed Abdul’s life, “I was immediately inducted into their main office and was given charge to supervise six fashion showrooms based in Paris.” Having seen potential in this line as he had worked with his sister who was a ladies tailor, he used his prior experience to adapt and

learn the tricks of the trade. He worked for six years in Paris and later had almost 68 garment showrooms in Saudi Arabia under his charge. Having acquired sufficient experience, Abdul returned to Goa in 2002 and joined his family business, Daud Electricals. Reminiscing over the days he decided to join the business, he says, “I had not thought about starting a lighting showroom, but eventually decided on it despite the competition.” Abdul used his knowledge of colour schemes and entrepreneurship skills to run the business in Goa. Taking pride in the choices he has made along his journey, Abdul says, “When I first decided to join Daud Electricals, Tahir Daud Carol was my mentor. And although it was first a responsibility; today, it is purely a passion. Now, I even have my own manufacturing

Range of decorative lighting at Daud Electricals

unit and finishing studio in Taleigao.” Daud Electricals has managed to spread the reach of their services all over India, including Mumbai, Pune, Nasik, Gurgaon, Delhi, Karnataka and even Kerala. They have also showcased their work abroad through various projects in Dubai and England. Daud Electricals has thrived on word-of-mouth publicity, “I have survived in this market because of my customers. I believe business

ethics also plays a key role in building trust among clients. To augment our business, we were the first to bring the concept of LED lighting in Goa through Hybec in 2007 and the first showroom designed using Led lighting in 2010,” says Abdul, beaming with pride. Talking about designer lighting in Goa, Abdul feels that, despite being a small market, a lot of importance is given to lighting here. He attributes this to Goans being

travel enthusiasts who have explored and experienced different styles of lighting. He says it is important to invest in good lighting as it “cuts down future costs by 20%.” Daud Electricals’ customers say that they patronise the best in lighting, but not willing to rest on achieved laurels, Abdul has bigger plans – to open offices in north and south Goa and provide lighting design consultation services. This go-getter’s future sure looks bright

May 2018 | Business Goa industry Dossier | 27


Prashant Joshi has been appointed as South Korea’s new Honorary Consul in Goa

“It was a golden day in the history of North and South Korea when the leaders of both countries met on April 27, 2018” investments to the state of Goa. South Korea is the world’s 12th largest trading country. This usually involves electronics, solar energy, environmental projects such as garbage treatment plants, recycling of waste water, setting up modern sewerage plants, ship building, etc. Prashant Joshi appointed as Honorary Consul (Goa jurisdiction) of the Republic of Korea, in the presence of Consul General Soungeun Kim in Mumbai

Hailing from one of the oldest business families in Goa with over eight decades of experience in the automobile industry, Prashant Joshi is a dynamic businessman. He is the chairman and managing director of the Joshi Group’s Goa Motors Pvt Ltd, who have been dealers of Hyundai Motor India Ltd in Goa since 1998. Under Joshi’s staunch leadership, Goa Motors Pvt Ltd was the first to set up a third facility in Verna, Goa, which today is an auto hub in the state. Prashant Joshi has seamlessly juggled multiple roles. He was the honorary secretary and president of the Goa Cricket Association for almost 20 years; a member of the governing body of the Sports Authority of Goa during the construction of Jawaharlal Nehru Stadium; a trustee and vice president of the Murgao Education Society; and more. Over the course of his career, Prashant Joshi has secured several accolades and honours. These include receiving the highest state sports award, the Jivba Dada Kerkar Award, by the government of Goa, as the ‘Best Cricket Organiser’ in 1992. He was also the first Goan to receive the honour of being elected vice president of the Board of Control for Cricket in India (BCCI) from 1991-1994. On April 18, 2018, Prashant Joshi was appointed Honorary Consul (Goa jurisdiction) of the Republic of Korea, in the presence of Consul General Soungeun Kim in Mumbai. Business Goa spoke to Joshi on this prestigious appointment. What do you hope to achieve in your role as Honorary Consul of the Republic of Korea? The President of India and the Government of Korea have recognised my appointment as the Honorary Consul of Republic of Korea for the state of Goa with clear guidelines of providing consular services to Korean citizens in Goa; and further promote trade, investments, tourism and cultural exchange between Indian and Korea. I am also supposed to strengthen IndiaKorea bilateral relations and enhance the co-operation between Korea and Goa. How has being a dealer for Hyundai prepared you for the task? 28 | Business Goa industry Dossier | May 2018

I was one of the first Hyundai dealers not only in Goa, but in India. I have been interacting with Koreans from the year 1996. My association with various Korean businessmen and other key officials ultimately played a big role in the Ministry of External Affairs and the government of Korea approving my appointment as the Honorary Consul. How do you plan on strengthening relations with Korea? It is too early to make a commitment on my plan at this stage. However, there is vast scope to promote tourism since Goa is a globally well known tourism destination. There is also scope for inviting Korean

What is the potential for trade and investment between Goa and the Republic of Korea? There is a huge potential for trade and investment. I am sure many Goan entrepreneurs would be interested in Joint Ventures with Korean companies who can offer world class technology. Also import of some sophisticated industrial machinery. A road map for trade with Korean investment in India including the State of Goa would be drawn up shortly. What is the scope for tourism and cultural exchange between the two countries? There is considerable room for tourism in Goa, especially to promote tourism between South Korea and Goa. Cultural exchanges could also be organised with various cultural organisations and the government of Goa. How do you think the trust between the Republic of Korea and the Democratic People’s Republic of Korea will impact relations between the two as well as other countries? It was a golden day in the history of North and South Korea when the leaders of both countries met on April 27, 2018. I expect relations to improve further in the days to come, which will tremendously benefit both countries to grow their trade, investment, transportation links, tourism and especially lead to frequent exchanges of separated families during the Korean War. The improved relations between the two countries would also throw open big opportunities for trade and investment to other countries in the world




A taste of home

आई’s (Aai’s) strives to preserve the quintessential Goan experience by providing authentic home-cooked meals Stuffed Mango Pickle - A traditional Goan recipe, which has been passed on through generations

Ambadyachi Udhamethi - A Goan vegetarian curry made of hog plum

Goan Garam Masala - the best ingredients used to give you the best flavours



homely blend of warm spices, fused with the earthy texture of coconut. Lovingly ground together, this constitutes the base of the quintessential staple of the Goan household. This dish, the Goan fish curry, paired with parboiled rice coupled with the tangy taste of homemade pickles is among those dishes in Goa associated with home and the welcoming embrace of a mother. Starting as an initiative to preserve this traditional and authentic Goan experience, Shubhra Shankhwalker launched आई’s(Aai’s), Goa from home. Shubhra states that the inspiration behind this venture was, not surprisingly, her mother, who loves to cook and is an excellent host. Launched in 2017, Shubhra works along with her mother and mother-in-law as a team to recreate simple, healthy, signature homemade dishes that have passed on from generation to generation. In a world of mass-produced and bland, processed foods with added preservatives, authentic home-cooked meals are always cherished. Aai’s strives to offer this authentic homecooked experience. With a tantalising

30 | Business Goa industry Dossier | May 2018

blend of the finest herbs and spices, the most natural ingredients, and the touch of love and care that only a mother has, Aai’s stays true to its tagline, “Taste a bit of home in every mouthful.” Shubhra has always been a multitasker. A graduate from the Goa College of Art and a graphic designer by profession, Shubhra also owns Tailor Bird – a craft studio and store that caters to innovative arts and crafts. Shubhra used the expertise gained at Tailor Bird to hone her creative skills at Aai’s. From the logo to the stellar packaging, all conceptualised by Shubhra, every product at Aai’s truly showcases her creativity and artistic talent. Environmentally conscious, Shubhra also ensures the use of reusable tiffins, cutting down on the use of plastics, and using glass jars. Much of what defines Goa’s culinary traditions has been

established through generations of its rich culture. The cuisine of our coastal state is a play of flavours, a blend of sweet and spicy. Aai’s offers a range of premium products, from pickles to jams to garam masalas and in particular Saraswat cuisine, served in unique flavour combinations, that are handmade in small batches, from scratch, using allnatural ingredients and no preservatives or additives. Shubhra caters to a niche clientele that craves for a home-cooked meal. Shubhra says, “Our whole concept has been to spread Goan cuisine, and for non-Goans to experience the true and authentic taste of Goa.” With a marketing strategy being predominantly word of mouth, and a significant presence on social media, Aai’s has attracted the right people looking for the right product. “What I try to focus on is good quality and a tremendous amount of care. We are not trying to push our product. I know that the food we serve is good,” she says, candidly. Built on the foundation of honesty, hard work, timely delivery of quality products, Aai’s is making its presence felt in the food service industry. When it comes to competing brands, it’s evident that Shubhra’s belief in hard work and

@businessgoa (Right) Tiffin service provided by आई’s (Below) Baby mackerels (bangdulyo), served best with curry, sukhe and rawa fry

her determination go way beyond any competition. “The more you focus on competition, the less you focus on quality. I have full faith in the quality of our product, so the competition doesn’t really matter.” Shubhra seamlessly strikes a balance between her design venture, Tailor Bird and Aai’s, taking her creative skills and applying them to both ventures. Looking ahead, Shubhra says, “The concept of Aai’s is to eventually get more mothers

involved, more home-makers to share their recipes, to expand our brand and the cuisines we cater to.” For Shubhra, it has always been more about the journey than the destination. Rather than focussing on a far-fetched goal, Shubhra endeavours to nurture her business by living in the moment and focussing on the present, rather than worrying about what’s around the corner. “I’m not in a hurry,” she adds, “We still have a lot to learn. I’m just taking it all one day at a time”

“Our whole concept has been to spread Goan cuisine, and for non-Goans to experience the true and authentic taste of Goa”

Shubhra Shankhwalker

May 2018 | Business Goa industry Dossier | 31



Jai Ganesh Ispat (JGI)

The Steel Giant S


teel is one industry that enjoys wide application across different sectors. A giant in this business, Jai Ganesh Ispat (JGI) has been covering different grounds in order to become a one-stop source for all the steel requirements in the state. Jai Ganesh Ispat has carved out a name for itself among leading national and multinational companies who have their business operations in Goa. With a strong capacity for innovation, pragmatism and efficiency, the steel supplier has also built a strong presence in real estate, industries and infra-projects in the state. Automobile, hospitality, white goods, pharmaceutical, and defence are among the other sectors JGI deals with. Founder and director Siddharth Goyal, hailing from Haryana, came to Goa in 1996. In 1997, he established a proprietorship concern - Ganesh Sales Corporation. What started as a trading unit was later incorporated as Jai Ganesh Ispat and Ferro Alloys Pvt Ltd in 2004. Generations of Goyals were involved in steel manufacturing, but Siddharth Goyal was the first in the family to get into trading or distribution of steel. Their family business was based in Calcutta where they had rolling mills. Goyal began with a shop in Margao, trading in iron and steel. Initially, he was associated with Steel Authority of India and Essar Steel. Later, along with Sonia Goyal who serves a director in the company, he started dealing in local steel bars. JGI’s extensive product line includes TMT Bars, which is primarily used for infra projects. Also included in their portfolio are Structural Steel, HR Plates, Pipes and Hollow Structures, GP Sheets, Colour coated Galvalume Sheets, CRCA Sheets, etc. The JGI office is currently located in Caranzalem-Panaji, with its factory spread across three acres in Corlim, Old Goa. The company’s annual turnover last year was `250 Cr and Goyal aims to take it forward to `500 Cr over a five year horizon. Vision Goa When asked about his vision while creating an empire, Goyal replies, “We wanted to be the best in steel distribution and mature into a brand synonymous with ‘steel’ in Goa.” Goa has been a focus area for JGI and

32 | Business Goa industry Dossier | May 2018

Siddharth Goyal has built Jai Ganesh Ispat from scratch to be a leading steel player in the state

despite there being statewide footprints in most of the sectors, the steel giant feels there is still more vacuum to fill. Goyal informs, “In the furniture and hospitality industry, we can do a lot more than what we’re doing right now. If the government does away with red tape, we can penetrate many public sector institutions, too.” Commenting on the changing grade of the steel and market requirements, Goyal says, “The grade of steel is constantly changing as per market needs. We have held awareness camps to educate our clients in this regard. Steel, as a product, is also constantly evolving – it is now more light and has more strength. India is still far behind the international standards of steel grade because, for such grades, you also require other materials of higher quality to complement it.” Over the years, JGI have operated in the southern states. There were many geographical constraints supplying to those states. At the same time, the company saw immense potential in Goa – if given its full focus. Therefore, in 2010, it closed down all its operations in other

Siddharth Goyal

states and started to cater only to Goa. “Rather than becoming Jack of all trades, we thought of becoming master of one,” says Goyal. “We have tried to develop the culture of making everyone feel ownership of the firm. We tell everyone to be the owner of their assigned job. They should feel compelled to complete the given work and, while doing so, strive to go to the depth of the issue and try to resolve it,” Goyal said, commenting on the work culture at JGI. Despite manufacturing and customising orders according to client needs, Goyal feels that their job is more service-oriented due to their dedication and punctuality in supplying any job order. The Tie-Up JGI serves as the the distributor for JSW Steel Limited for Goa. JSW is strategically located in Bellary, Karnataka from where JGI is able to source fresh steel within 24 hours and work on its orders. “JSW is one of the top companies in India and it has strong global presence due to its commitment to quality. Every major company wants to deal with us because JSW is one of the most trusted names in the steel industry in India. We have never faced any quality issues They also want to expand our association from just steel to paint and cement in the nearby future,” informs Goyal. “There is a reason why reputed companies prefer branded steel like JSW, especially for infra projects. The overall cost decreases due to application of such genuine steel. It is light, but strong, hence dead weight and labour cost is reduced. It bonds better with cement; its resistance to earthquakes is another of the numerous benefits that come along with it, elaborates Goyal.


Milestones JCI’s first big milestone came when it invested in the Decoiling Unit as it allowed them to customise orders according to client requirements. Previously, the company was only involved in trading. The second biggest milestone came during the tie-up with JSW Steel in 2009. Goyal elaborates on the third turning point, “When my brother Nikhil Goyal came here from Belgium, we had a major change in terms of factory setup. He helped in setting up the entire factory while I focussed on other areas. Even though he was here for two years before moving to the US, his presence led to many changes in how we functioned here,” asserts Siddharth Goyal. Ambitious Projects Some of the ambitious projects that are being built in association with JGI Steel are Zuari Bridge and Mandovi Bridge. Some of their other projects completed in the past include the BITS Pilani Campus, District Headquarters in Margao, Aldona-Calvin Bridge, District Hospital

Jai Ganesh Ispat, Factory Unit, Corlim, Old Goa

“We wanted to be the best in steel distribution and mature into a brand synonymous with the word ‘steel’ in Goa,” says Siddharth Goyal. Goa has been a focus area for JGI and despite there being statewide footprints in most of the sectors, the steel giant feels there is still more vacuum to fill Mapusa, Sports Complex Peddem, Athletic Stadium in Bambolim, among others. With regard to competition, Goyal’s view is to think ahead of the

competitors. He believes that change is constant and hence as a company, they have to constantly evolve and adapt to newer changes in the market to become futuristic in the

Jai Ganesh Ispat’s Annual Dealers Meet The Annual Dealers Meet 2018 was held by the Jai Ganesh Ispat – Distributor of JSW NEO Steel Fe500D Pure TMT bars - Goa Region recently. JSW Group plays a key role in India’s growth story and is ranked amongst India’s top business houses, foraying into the core sectors of steel, energy, cement and infrastructure helping build a new nation. The Annual Dealers Meet commenced with the lighting of the lamp by Siddharth Goyal, Prof K G Guptha, Anish Thomas and Sandesh Shetty. The keynote speaker, Anish Thomas, Regional Channel Manager, JSW, South

India emphasized on boosting the retail sales by spreading awareness of advantages of using JSW Fe500D NEO TMT Steel Bars. The event also included a presentation by K.G. Guptha, PhD (IIT Bombay) Professor and Head, at Goa College of Engineering, showcasing a comparison of JSW Neosteel Fe500D with other manufacturers. The event also featured a talk by Sandesh Shetty who spoke about the global scenario of steel, providing an in-depth knowledge of JSW NEO Fe500D Reinforcement Steel Bars. The Dealers meet also witnessed a live demonstration on ‘bar bending’, a Q&A session and a video showcasing the

true sense. Lastly, he feels humility is very important even while dealing with competitors or customers. JGI has currently invested in a technology that will heavily cut down on steel wastage that takes place due to customised orders. The budget for the same is estimated to be around `10 Cr. Additionally, the company plans to build Goa’s first preengineering building factory setup. The board is also looking for a joint venture with real estate and hospitality companies to cater to Goa. Speaking about the personalities that have inspired him throughout his journey, Siddharth Goyal mentions Sajjan Jindal, Bill Gates and Jack Ma. “We can learn a lot from their experiences, foresightedness and their risk-taking abilities,” he says. Sharing words of wisdom, Goyal expresses, “Don’t take failures personally. They’re a part of business. You have to be able to learn from those failures. Secondly, never do anything half-heartedly. Form a team as you cannot grow alone. Lastly, you have to give your 110% to whatever job you have”

Lighting of the lamp at The Annual Dealers Meet in the presence of Siddharth Goyal, Prof K G Guptha, Anish Thomas and Sandesh Shetty

experience of its dealers, followed by rewards and reorganization. Dealers were presented with a certificate of excellence and trophies. Shri Ganesha Enterprises, Marcel won the trophy for

being the 1st Shoppe Connect of Goa. Star Dealer of the Year 2016-2017 trophies were awarded to Shri Ganesha Enterprises, Marcel, S P Ent, Valpoi, and Jai Ganesha Steel & Hardware respectively

May 2018 | Business Goa industry Dossier | 33



Govt HSS Baina wins kabbadi qualifier

The first ever Western India edition of Red Bull Tashan, a competitive Kabaddi tournament for players at college and club level, successfully kick-started recently with the qualifiers being held at the Campal Indoor Sports Stadium. The qualifier saw colleges like Government Higher Secondary Baina, Vivekanand HSS Bali, Ponda Government HSS, Perne Government HSS, Bicholim Vivekanand HSS, Vidya Prsasarak Mandal among others compete. Government HSS, Baina,

Vasco triumphed and will further compete with the winning teams of the upcoming Sangli and Pune qualifiers at the finals at HotFut, Mundhwa, Pune on May 13, 2018. The best raider of the Goa qualifier was Vishal Rathod from Government Higher Secondary, Baina, Vasco, while Sapnesh Velip from Vivekanand HSS Bali was adjudged the best defender. The tournament is organized in association with the Pro Kabaddi League franchise Puneri Paltan. Open to players between the ages of 16-21, Red Bull Tashan makes strategy a key component of the matches, which run half the duration of Pro Kabaddi League games. Each half consists of 20 minutes, in this tournament, each half consists of only 10 minutes each, making the entire duration of the game 20 minutes

FSAI student chapter installed at GEC The Fire and Security Association of India (FSAI) is a non-profit organisation, established in 2002, representing the Fire Protection, Life Safety, Security, Building Automation, Loss Prevention and Risk Management domains. The FSAI Goa chapter installed on May 26, 2016 has been active in spreading awareness on Fire Safety and Security. The First FSAI Student Chapter of Goa was installed on May 4, 2018 at Goa College of Engineering, Farmagudi, Goa with over 200 students of Goa College of Engineering enrolling as members of the chapter. Sidharth Kuncalienker, chairman of EDC and vice chairman of GSIDC graced the function as the chief guest, appreciated the initiatives of FSAI and Goa College of Engineering and presented the Charter Certificate to Dr V N Shet, principal of GEC. Guest of Honour Ashok

Menon, director of DFES Goa spoke on skill development, opportunities in the field of Fire and Security, appreciated FSAI and GEC for providing a platform to the students and assured them of active support from DFES. He presented the certificate of FSAI student officers to the leadership team of the student chapter. The oath ceremony was conducted by president of FSAI Goa Chapter, K K Sekhar. The leadership team of FSAI Student chapter consists of Sunay V Dharwadkar – president, Vardhan Prasad Kamat – secretary, Janhavi S Athalye – joint secretary, Miguel Costa – treasurer, and Suhail Khan – joint treasurer. Other dignitaries who addressed the students were Dr Sachin Shendokar, FSAI National Chairman for Student Initiatives, Rajkumar Kamat, founder president of FSAI Goa Chapter, and Ganesh Hegde, FSAI Goa Chapter Student Initiatives Chair

34 | Business Goa industry Dossier | May 2018

VMSIIHE invites admissions V. M. Salgaocar Institute of International Hospitality Education (VMSIIHE), one of the leading institutes of hospitality education in India, announces the opening of admissions for the coming academic year 2018–19 for students who want to enhance their career in the field of hospitality. Affiliated to the Goa University and supported by the Marriott Group, VMSIIHE offers a B.Sc. in International Hospitality Management. The threeyear full-time programme at VMSIIHE is designed to equip the students with practical training and necessary skills, with special attention to personality development, professional attitude and leadership qualities, which are requisite to be a global

manager of repute. The programme provides participants with exposure to various facets of the industry, departmental processes related to food and beverage planning, showmanship, front office and housekeeping practices, human resource management and food production operations. It also offers them a leadership programme which inculcates a professional attitude in a holistic learning environment. The course curriculum includes academic learning, practical sessions, an exchange programme to Portugal, a visit to Switzerland and professional internships at starred hotels in India and abroad as well as 100% Placements. Visit for more details



Across: 1. India’s largest cement exporting company (9) 6. Transportation hub in South Korea (7) 8. Private travel company headquartered in Salem (3) 9. Island of Napoleon’s exile (4) 10. Former South African cricket captain Smith (6) 11. Brand of Cadbury chocolate (4) 12. Typical title of the head of an academic institute (4) 13. Popular jeans brand by Arvind Mills (7) Down: 1. Major US airline headquartered in Chicago (6) 2. Fast food chain focusing on Mexican food (4,4) 3. Type of beer (3) 4. Film company associated with the James Bond series (3) 5. McDonalds’ offering which contains a toy (5,4) 7. Type of web browser (5) 11. ___ TV – Tamil satellite television station (3) 12. Insecticide infamous for its environmental impact (1,1,1) ANSWERS TO CROSSWORD 100 Across 1. Nirav modi 6. fortune 8. intel 11. ucla 13. cortes 14. dhl 15. snoopy Down 1. nifty 2. rar 3. vault 4. oneplus 5. israel 9. nirlon 10. scan 12. atlas 14. diy


Published: The Goa State Co-operative Bank Ltd. MRP `500

Handbook on Management of Co-operative Societies


he Goa State Co-operative Bank Ltd is the apex financing agency in the co-operative sector in Goa. Registered in 1963 and commencing banking business in 1964, the bank provides financial services that are on par with nationalized and private sector banks. With a network of 58 branches and facilities of electronic transfers through NEFT/RTGS, ATM & Micro ATMs for instant credits, the bank strives to assist the common man’s financial needs through various effective schemes. The bank grants loans to all types of co-operative societies, self-help groups at special rates and also loans to agriculture sector and business, housing, vehicles, as also personal loans. Apart from this, the bank regularly conducts Financial Literacy Programmes in rural areas of Goa in collaboration with National Bank for Agriculture and Rural Development (NABARD). In service of the co-operative movement, The Handbook on Management of Co-operative Societies,

was published by the Goa State Co-operative Bank Ltd. The release of the handbook coincided with the ‘Workshop on Management of Cooperative Societies’, a one-day workshop held recently, on the management of cooperative societies for persons connected with cooperatives, which includes office bearers, employees, tax consultants, etc. At the helm of the Goa State Cooperative Bank is the chairman CA V. B. Prabhu Verlekar, and members Mohandas V Ramdas and CA Shailesh G.S. Usgaonkar. In their words, “As the Apex Bank, we consider it our duty to provide guidance and help strengthen co-operatives and discharge their responsibilities and support the cooperative movement.” The Handbook on Management of Co-operative Societies was conceptualized with the view to create awareness and guide office bearers, employees and others connected to

cooperative societies with reference to their duties and responsibilities in complying with the various regulatory provisions and provide a basic idea of accounting, financial controls taxation as applicable to co-operative societies. The information on these topics is provided in the handbook in a simple manner for better understanding. Under the objective to supporting co-operatives, the committee has also created a special cell under the Managing Director of the Bank to address the difficulties that cooperatives may face. The co-operative societies may address their queries in writing preferably by emails. The administrative committee went on to add, “In our endeavour to support the co-operative movement, we urge all co-operatives to have their financials and other dwellings as far as possible with other co-operative banks registered in the state of Goa”

May 2018 | Business Goa industry Dossier | 35



Driven by enterprise

Laxmi Kunkolienkar has not only been setting new food goals for herself, but also empowers other women by providing employment opportunities

Laxmi Kunkolienkar


By Serilda Coutinho

axmi Kunkolienkar began her journey as an entrepreneur through her grandfather’s firm where her mother was the proprietor and Laxmi was the managing director. She began by supplying Nescafé coffee and tea machines to corporate houses. She used this experience to nurture her love for food. Recalling how she ventured into business, Laxmi, a lawyer by education, said, “It all began while I was interning at the Supreme Court. I was constantly in search of pocket-friendly food options, which I finally discovered through Nescafe coffee and Maggi noodles. These were favourites among students and easily available in the nooks and corners of Delhi. I decided to introduce these affordable options

in Goa.” That is when she decided to let the foodie in her take over her career. She decided to expand her business, which led to the birth of Kamaxi Foods. Acknowledging the firm’s growth in the food and hospitality sector, Nestle appointed Kamaxi Foods as the authorised food service provider of Nestle Professionals, catering to shacks, caterers, hotels and the hospitality sector. Today, she has more than 300+ vending machines across the state. Kamaxi Foods further expanded their food basket to cover MNC brands like Nilgiris, Veeba Foods, Tropilite Foods, Kesarisaffron, Hyfunn Foods, Swiss Naturen Frozen Foods, Goa Portuguesa Masalas, ADAAYA eco plates, while more are on the horizon. Kamaxi Foods went on to

36 | Business Goa industry Dossier | May 2018

make ready-to-eat chapattis under its brand Kuk’s Suvidha and also promoted a group of women manufacturing LED wax candles through the brand name K-Glow. What is admirable about Laxmi’s journey as an entrepreneur is the fact that she has taken affordable food through the launch of Nescafé Coffee Corners across the state. She now also has Maggi Hotspots in various educational institutions. Having accomplished her dreams at a very young age, Laxmi now has other ideas to put into action. Her recent venture Kuk’s Korner provides various food services. These services are ‘Book-a-cook’, through which patrons can procure a cook of an authentic cuisine to cook a meal for an event/occasion, Sugrann – a home-hosted meal, and FoodGo – an ecofriendly food joint on wheels. The one that has garnered the most interest is Sugrann. com. This website connects tourists as well as Goan foodies with local home cooks and their families over a home-hosted meal. The process that goes into

planning a Sugrann meal starts with compiling a menu with some of the home cooks’ signature dishes (unlimited servings of around 16 dishes) and deciding the cost (per plate) of the meal. During these meals, Laxmi is also careful that the hosts’ privacy is not invaded. Guests are asked to provide ID proof to verify their identities. Once verified, the guests can book their place at the event after making an online payment of `1000-1500. Only once the payment is made, the venue is revealed. Sugrann caters to 10 different cuisines (for now, more are on the anvil); Laxmi has approached a number of skilled home cooks to host meals depending on the need of the occasion. They also have a request-a-date option where a family can choose to relish a meal at the residence of a home cook, limiting the access to their own private group. All Sugrann meals include a non-alcoholic welcome drink, appetisers, main course, accompaniment, and desserts. Speaking about these home lunches, Laxmi says, “The lunch always begins at 12:30 and continues till 5:30, but Sugrann Easter people stay by Meal hosted on as they Edith Da Silva Pereira bond over the meal and become a part of the host’s family.” What is also unique about this authentic d i n i n g experience is that a seat at the dining table is reserved for the

host so that they get an opportunity to interact with their guests. Laxmi also invites one chef from a renowned restaurant to share in the meal with the other guests.Laxmi has taken this initiative so that home cooks get exposure. The chefs who have attended the Sugrann meals include Sunit Sharma from Cidade de Goa and Manjeet Pandey from Holiday Inn. Overwhelmed by the response received through Sugrann, Laxmi says, “I have an extended family now. Every time, the Iyer family cooks anything special in their house I get a call from Mrs Iyer to drop in to take some home.” Some of the success stories born out of Sugrann are of Ajanta Burman who recently received an invitation from Radisson Blu in Goa to cook some of her signature dishes for a Bengali food festival organised by the resort. Another instance

Sugrann meal at the Iyers’

is of Khairunissa who got an opportunity to put up her own food stall during the Serendipity Festival through Odette Mascarenhas, who was impressed with her cooking skills. Sugrann’s home-hosted meals help create a link between the home cooks and the chefs. This way, chefs get to explore various authentic cuisines that add to their cooking skills and home cooks get recognition. Laxmi is ready to set another bench mark in the

food industry through her food truck, FoodGo. Sharing the excitement of her new venture,she says, “This food service will satisfy the hunger pangs of every foodie. FoodGo will have a new menu everyday, with healthy options to choose from. It will also be budgetfriendly as the aim is to price all food items under `150. Her target workforce includes home cooks, especially women who are looking to earn some revenue through their amazing cooking skills. Encouraging entrepreneurs to employ women with such talent, Laxmi says, “There is a need to employ more women as I believe they need

the motivation to get going. If women earn, they will not be discriminated as a weaker section.” Having established a business on her own, Laxmi says, “The biggest challenge for me was to work out my risks in advance and manage my finances as it is a self-funded business.” She also feels that one should accept criticism as it helps one grow. Laxmi sees huge potential in the food sector in Goa and suggests that it is very important to tap the right talent for this purpose. “Business has helped me grow into a stronger woman while working with my competitors. It also helps me phase out the gender bias in society,” says Laxmi while taking pride in being a women entrepreneur. Her only success mantra for women entrepreneurs is,“Focus and keep the focus going”

May 2018 | Business Goa industry Dossier | 37



“To be an engineer is to be a lifelong learner” With 40 years of experience in the field of engineering, Gerard D’Mello has built a strong reputation for excellence in his profession



ngineering is a complex field with many sub-specialities, each requiring specialised expertise. Electrical engineering, along with other engineering specialities, requires critical thinking skills, a willingness to look at problems from varied perspectives to uncover ideal solutions, and exceptional communications skills in order to interface with team members and stakeholders, among others. Gerard D’Mello possesses all these traits and more. Majoring in Electrical Engineering, when he pursued his Bachelor of Engineering from the Goa Engineering College in the late 70s, Gerard shares his inspiration behind pursuing this profession. “I have always enjoyed tinkering with electrical and mechanical gadgets. I think this is what pushed me towards pursuing such a career. Even in college, I think I spent more time in the workshop than in the library.” Immediately after graduating with first class honours, Gerard secured a position as a trainee at Zuari Agro Chemicals Ltd. through a campus interview. After 35 years at the company, he retired five years ago from his position as Chief Manager – Projects. One of the leading fertilizer conglomerates in India founded in 1967, the company produces high-quality complex fertilisers of various grades along with seeds, pesticides, micronutrients, and speciality fertilisers. Speaking about his role at the company, Gerard says, “My role in the company was basically in maintenance. I handled the mechanical and electrical maintenance, in various sections of the organization, becoming Chief Manager – Electrical, before taking up the position of Chief Manager – Projects, two years before I retired.” Under his role as Chief Manager – Projects, he actively undertook in-house projects. Some of the major projects he undertook included modernization of the electrical system at the company. He was also actively involved in the detailed engineering of the hundred crore expansion project of a complex fertiliser plant. During his career with ZACL, he has been Vice President of the Jai Kisaan Club and subsequently Vice President of the Management Club. 38 | Business Goa industry Dossier | May 2018

“Engineering professionals require more than just technical aptitude and the right education to be successful. To be an engineer is to have the commitment to grow professionally throughout one’s career – to be a lifelong learner”

Gerard D’Mello

Gerard is also a part of the Institution of Engineers, India, (IEI) an organisation of engineers in India established in 1920 and incorporated by the Royal Charter in 1935. An all-India body, the IEI consists of about 0.7 million members overall, covering 15 disciplines of engineering, with over 120 state and local centres all over the country, as well as 5 Overseas Chapters. “We had a Student’s Chapter when I was in the engineering college, and after a few years of working, I joined the Institution of Engineers as a member. It was only after retiring from Zuari Agro Chemicals that I became more active in it, as I could devote more time. I was elected as Chairman of the IEI, Goa State Centre, for 2014 to 2016” The IEI serves as a bridge between the academia and the practising engineers, organising seminars and conventions in an attempt to bring the two together. The IEI also holds the AMIE (Associate Member of the Institution of Engineers) Examinations, a grade of Corporate

Membership in Engineering and Technology awarded by The Institution of Engineers (India). Students passing Section A&B of the AMIE are considered to be equivalent to degree holders. “Prior to my tenure, only Section A exams were held in Goa, while for Section B, students had to travel to Mumbai or Pune and other states outside of Goa, which was very inconvenient for most of the students. We received many requests asking us to hold the Section B exams in Goa. During my tenure, I managed to get the Section B exams held in Goa, and that greatly benefitted students.” Gerard is presently the chairman of the Basic Infrastructure Committee of the GCCI, a committee that works closely with government departments and agencies for the improvement of basic infrastructure such as power, water supply, and renewable energy. Elaborating on this, Gerard says, “Recently, the government of Goa filed a petition with JERC (Joint Electricity Regulatory


Commission) with the intention to increase the tariff. We studied this on behalf of the Chamber, to see how industries would get affected, and filed a petition. We also organise seminars to make members more aware of JERC regulations and what their role is in shaping the tariff structure or in improving the electricity situation. The Basic Infrastructure Committee earlier worked closely with GEDA in preparing the State Solar Policy.” Apart from this, Gerard seamlessly juggles multiple additional roles in society. In the education sector, he has been a Project Guide for BE and AMIE students, an external examiner for the Polytechnic examinations, conducted training sessions for technical teachers in Goa, and was instrumental in organising numerous technical seminars and

educational workshops. He is also presently a member of the Institute Managing Committee of Panaji ITI. With 40 years of experience, Gerard has built a strong reputation and understanding of the field of engineering. Advising youngsters wishing to pursue a career in engineering, he says, “Engineering professionals require more than just technical aptitude and the right education to be successful. To be an engineer is to have the commitment to grow professionally throughout one’s career – to be a lifelong learner.” Speaking about the boom of engineering colleges and the lack of jobs for graduates, a great cause of concern, he says, “I would say at the moment we have five engineering colleges in Goa, and I feel that it is too much for the job opportunities within Goa.

Students who graduate from here are forced to move out in search of job opportunities. Also, with mining activity decreasing, so are the opportunities for engineers in the state. There is, however, always an opportunity for entrepreneurship.” Gerard also emphasises the need to set up IT firms, electronic and engineering industries in the State. “Instead of forcing our engineers to migrate to other cities in search of better opportunities, we need to create opportunities right here in Goa. Just as we have Make In India, there should be an initiative called Make In Goa. Also, while undertaking development projects in Goa, the Government should encourage entrepreneurs from within the State. This way Goan entrepreneurs will get an opportunity to prove their proficiency”. He added,

“At the same time, we need to keep the ecology of Goa in mind. While development is a necessary requirement, it should not happen at the cost of ruining the ecology of the state.” Concerned with the principles of force, energy and motion, engineers use their extensive knowledge of the same to advance the world around us – enhancing safety, economic vitality and enjoyment throughout the world. Gerard states that apart from his endeavour to contribute to society as an engineer he also devotes his time to other pursuits like the Stuti Choral Ensemble, a choir that focuses on Western Classical Music. This ties up with his interest in music, playing the guitar and mouthorgan, and singing LOG ON TO

May 2018 | Business Goa industry Dossier | 39


BNI Aparant celebrates 8th anniversary

(Top): BNI Aparant celebrates its 8th anniversary; (Right) Chief Guest at the event - Shrinivas Dempo, Chairman of Dempo Group


he Aparant Chapter of BNI, the largest business networking chapter of Goa, celebrated its eighth anniversary on April 25. Being the first chapter of its kind to be launched in the state, members have supported the further growth of BNI (Business Network International) in the state, which has now grown to 11 chapters and over 500 members in Goa. On the occasion, Rajkumar Kamat, Executive Director of

BNI Goa, recalled the many milestones the organisation has celebrated, including the latest achievement of BNI Goa reaching a new milestone of crossing the `1,000 crores of business passed among members. Shrinivas Dempo, Chairman of Dempo Group of Companies, was the chief guest. He reaffirmed the importance of BNI’s core values like givers’ gain, building relationships, lifelong learning and accountability,

that are instrumental to supporting growth and success of any businessman, regardless of size of operation as the business environment is volatile and similarly impacts all. He also emphasised the need to surround oneself with positive people and be genuinely passionate about business towards generating ideas for growth. The meeting was attended by over 150 members and visitors. President Colleen

Sequeira conducted the meeting, showcasing the various businesses that members represented and also acknowledged past presidents like Charter President Manoj Patil, Dinesh Dhulapkar, Vinay Verma, Rasik Naik, Andre Shackleton, architect Rajesh Kenkre, Pravin Sabnis, Suraj Sukhtankar, Sujeet Shetty, Nilkant Raul, Asha Arondekar, Sadashiv Shirsat, Prasad Amonkar, Sharvil Sampat and Rayees Anjum. BNI is the world’s largest referral organisation. It provides a positive, supportive, and structured environment for the development and exchange of quality business referrals. Since the last 30 years, BNI has grown to over 8,300 chapters worldwide with over 232,000 members. BNI members have access to world class training workshops that allow them to grow personally and professionally

CII organises Leadership Development Series for MSMEs

(L-R) Blaise Costabir, Rohitash Gupta, Lalit Saraswat, and Roshan Kumar


he Confederation of Indian Industry recently organised a Leadership Development Series for MSMEs in Goa. The main focus was on the changing trends in business development in India which has, in turn, affected business development in the state. CII has also formed a cell in Goa to address issues related to leadership and HR development. The programme was inaugurated by Lalit Saraswat,

vice chairman, CII Goa State Council and director, Sancole Shipping Ltd; Rohitash Gupta, chief operation officer, eClerx Services Ltd; and Blaise Costabir, managing director, GMI Zarhak Moulders Pvt Ltd. Costabir pointed out that technologies are not only for large scale industries, and should also be adopted into MSMEs, which are affordable and reliable. Saraswat spoke about new Digital Leadership with regard to MSME development.

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During a session called ‘Developing the Next level of Leaders’, Praful Talera, founder, Dynamic Logistics Ltd highlighted the changing trends in the Logistics sector and the advances due to technology in formalising strategies which has made logistics in the country faster and easier in the past 10 years. In the session ‘Role of Banks in the Growth of Small and Medium Enterprises’, Suyash Asthani, DGM, State Bank of India, highlighted the

banks’ role in development and supporting MSMEs by providing various loan and support schemes to business enterprises, without collateral and providing customised loans as per the need of the business. In the panel discussion on sustainable growth strategies through People Management and Technology, the speakers Lalit Saraswat, Rohitash Gupta, Moushmi Kamat – principal solution specialist, Data & AI, Microsoft Corporation India, and Mahendra Wani – general manager, Siemens Ltd discussed technologies that would help improve the small and medium scale businesses. Kamat informed that Microsoft has developed a technology through Artificial Intelligence that helps farmers. Siemens and Microsoft have offered different effective and affordable technologies to help and improve SMSEs



MeitY-ASSOCHAM-Ericsson ICT Startups Awards 2018


e i t Y– A S S O C H A M Ericsson Joint ICT Startups Awards 2018, was held recently in New Delhi on 26th April. Conducted by a collaboration of the Ministry of Electronics and Information Technology, ASSOCHAM and Ericsson the event awards aimed at recognising the best startups in the sector of information and communications technology. The event saw many noted dignitaries with Ravi Shankar Prasad, Union Minister of Electronics & Information Technology as the Chief Guest. In his keynote address, the minister spoke about the growth India has seen in the field of telecommunication and information technology. To illustrate the point, he stated that “Indian mobile manufacturing industry is expected to touch `1,32,000 crore by end of 2018” which comes as no surprise considering the staggering growth seen by the segment since 2014, when the numbers

(L-R) Chairman of ASSOCHAM MSME National Council Manguirish Pai Raiker, Sandeep Jajodia, Union Minister Ravi Shankar Prasad and Monica Magnusson

stood at `54000 Crore in value to `94000 Crore by the end of 2017. In a charged up speech, the Minister touched upon various topics of importance, among which he mentioned the milestones achieved till now and the objectives to be reached by the Government. He spoke about the scale and the volume of gadgets manufactured and the employment the particular industry generates, the number stands around 5 Lakh presently. He went on to talk about the rapid adaptation of BHIM (Bharat Interface for Money) and UMANG (Unified Mobile Application for New-age Governance) apps, the online agricultural

market platform e-NAM among the masses, especially the farmers and also the initiative of e-Hospitals which has already been of benefit to more than 2 Crore people across India. Sharing his views about the IT and allied sectors, he talked about moving the BPOs to small towns with far lesser overhead costs as compared to their urban counterparts, pointing out that already about 86 new BPOs are in operation, excluding digitally rich areas. Furthermore, the minister went on to say that that his ministry is working on a mission mode to make India’s digital sector a $1 trillion economy in the next

five years which has the potential to create 50-70 lakh new jobs. Monica Magnusson, Vice President, IPR Policy and Communication at IPR & Licensing, Ericsson, stated on the occasion, that Ericsson is committed to encourage innovation in the country, as she lauded the growing interest among Indian startups in adding value to ICT innovation. She also declared that the winners of the awards shall be mentored as a part of Ericsson Garage, an open innovation platform on which their technology shall be showcased before a global network of partners and investors. Manguirish Pai Raikar the chairman of ASSOCHAM MSME also shared his views; in his talk he lauded the Startup India initiative, saying that it has given the much needed impetus on youngsters of the country to choose entrepreneurial careers which would effectively tackle the issue of unemployment too

Heather Fernandes Colaco crowned ‘Mrs Goa 2018’


eather Fernandes Colaco was crowned Mrs Goa 2018 at the grand finale held at Terminal Banquet, Panjim. Heather, a journalist by profession, will be representing Goa in the grand finale of ‘Mrs India I am Powerful’ which is scheduled on 15th of May in Goa. Priya Rao was adjudged the First Runner up and Linoshka D’Silva was the second runner up and ‘Beautiful Smile’ subtitle. Aimed to encourage married women and provide a platform for them to showcase their talent, the event by Media Waves was conceptualized and curated by Thasveer M Salim. 12 contestants from different parts of Goa were selected for the grand finale. From the first round of audition, contestants

Title winner of Mrs Goa 2018 Heather Fernandes (middle) with First runner up Priya Rao (left) and second runner up Linoshka D’Silva (right)

competed in the talent round, styling challenge round etc to qualify for the finale. As part of social responsibility, contestants also visited charity homes like orphanages and old age homes. On the final day, contestants walked on casual

42 | Business Goa industry Dossier | May 2018

and evening gowns provided by Shoppers Stop and ethnic round costumes were designed by Syed Sanaullah. To promote the campaign of ‘Beti Bachao Beti Padhao’ campaign, girls from ‘Bethesda Children Home’ walked the ramp wearing

clothes sponsored by Maxx Fashion, Caculo Mall. The subtitle winners were Anita Postwala (Mrs Congeniality); Dr Linoshka D’Silva (Beautiful Smile) Roshni Shaikh (Beautiful Hair) Ditvi Gaonkar (Beautiful Smile), Ritu Puri (Fashion Icon) and Neha S Chodankar (Best Catwalk). Anna Tharakan from Anna Artistry Make up Academy was the main groomer and mentor for Mrs Goa 2018. Jazpreet Kaur, National Head, Mrs India - I am Powerful, was the chief guest and main judge for the finale. Other members of the jury were fashion designer Monty Sally and Sonu Dabral, author of A Social Entrepreneur and founder of ‘Shenergy’ a unique initiative on woman empowerment


Freestyle by Ford: India’s first ‘Compact Utility Vehicle’

Manoj Caculo, Chairman and Managing Director, Suraj Caculo, Jt. Managing Director of Caculo Motors Pvt. Ltd. and Rajveer Caculo


ord has introduced India’s first Compact Utility Vehicle, Ford Freestyle, for Indian consumers at an introductory price, starting from `5,09,000. The global product from Ford combines SUV-like robust design, benchmark performance, innovative technologies and outstanding fuel efficiency. The brand new CUV is available in four variants across two fuel options and six colours – White Gold, Canyon Ridge, Moondust Silver, Oxford White, Smoke Grey and Absolute Black. “The all-new Ford Freestyle is a cool new car for young, new age, emerging Indian customers who aspire to own an SUV-like vehicle,” said Anurag Mehrotra, president and managing director, Ford India. “The compact utility vehicle is yet another segment created by Ford and will complement our existing portfolio of capable SUVs like Ford EcoSport and Ford Endeavour. The Freestyle comes paired with Ford’s all new, three-cylinder 1.2L TiVCT petrol engine that is small, light, strong and delivers

outstanding fuel efficiency. The naturally aspirated engine will generate 96PS of peak power and 120Nm of torque. Consumers will continue to have a choice to opt for Ford’s trusted 1.5L TDCi diesel engine that generates class-leading 100 PS peak power and 215 Nm of torque. Both engines are paired with an all-new, five speed manual transmission that’s sportier, quicker and enhances its funto-drive capabilities. This new manual transmission is almost 15% lighter and helps improve fuel economy while reducing NVH. It requires 40% lesser gear oil than its predecessor. Drivers will experience slicker, more responsive gear shifts, enhancing Freestyle’s sporty appeal. Adding to the list of allnew features and technologies, Ford has introduced innovative and first-inclass intelligent technology, Active Rollover Prevention (ARP) with the Freestyle.The system works with Electronic Stability Control and applies brakes on relevant wheels to decrease engine torque and help prevent any potential

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rollover situations. The Freestyle will continue Ford’s leadership on safety, offering standard dual airbags across the variant line-up. The latest Ford looks modern, aggressive, inviting and ready for action, whether on or off-road. Featuring a striking-look, and a commanding stance, the Ford Freestyle uses design elements common to more expensive mini SUVs. The unique Freestyle grille with three dimensional mesh gives this car a sportier look. The front bumper has sculpted sections that inspire a sense of confidence and add to its SUV-like look and rigidity. The skid plates on the front and rear make the car a perfect companion, whether on-road or off it. Freestyle, with its best in class ground clearance of 190MM, can conquer challenging surfaces with greater ease and feature 15inch tyres with increased track-width and aggressive black alloys to give a SUV stance. The car’s interiors feature sporty, dual tone interiors. Like all Fords, there are 20

storage spaces throughout the cabin and a boot with the 257- litre capacity to easily accommodate two suitcases. The rear leg room of 871 mm and headroom of 959 mm is amongst the best in the hatchback segment. There is extensive use of damping and sound absorbing materials to reduce vibrations or road noise, making the Freestyle’s cabin quietest among its peers. The Ford Freestyle also features Ford’s in-car infotainment system, SYNC 3 with a 6.5 inch touchscreen, which allows drivers to control their entertainment and their connected smartphone with conversational voice commands. SYNC 3 system is also Apple CarPlay and Android Auto compatible. The freestyle is replete with convenience features, including a reverse parking camera, keyless entry and a push start. The automatic climate control on the Freestyle will be among the best in its class, capable of bringing cabin temperature down from 50 degrees to a comfortable 25 degrees in just 15 minutes


MINI Countryman now in India T

he all-new MINI Countryman was launched in India recently. Locally-produced at BMW Group Plant Chennai, the second-generation all-new MINI Countryman will be available in both petrol and diesel variants with deliveries beginning from June 2018. Vikram Pawah, president, BMW Group India, said, “The all-new MINI Countryman is built for adventure and an ideal companion for city trips to country getaways and long journeys. The second generation of the MINI Countryman represents a more distinctive and mature proposition of an ultimate all-rounder with ample space for you and your family. It is a perfect fit for an urban environment offering unique driving comfort, refined interiors and clever

Vikram Pawah, President, BMW Group India with the all-new MINI Countryman

functionality. Every road marks the beginning of a new chapter, whether it’s a winding country road or the bustle of the city, now you can truly unleash your inner adventurer.” The vehicle is equipped with John Cooper Works aerodynamic kit, rear roof spoiler and impressive 18-inch JCW thrill spoke alloy wheels. John Cooper Works influence

continues in the illuminated cockpit with the JCW sports leather steering wheel. The car is equipped with premium features such as the ‘Leather Cross Punch’ Sport Seats, Harmon Kardon Hi-Fi Speaker System, MINI Find Mate and the MINI Wired Package. The MINI Wired Package includes Navigation System Professional and MINI Connected XL 8.8”

screen with Touch Controller and Bluetooth mobile connectivity. With the Automatic Tail Gate, Cruise Control, LED Headlight, Fog Light, Multifunction steering wheel, Centre armrest in front and rear and the Radio MINI Boost 6.5” as standard, the all-new MINI Countryman comes ready for any adventure. The vehicle will be available in five colours: Island Blue, Light White, Chilli Red, Melting Silver and Thunder Grey as well as British Racing Green. The all-new MINI Countryman will be available with Leatherette Carbon Black as standard upholstery and Leather Cross Punch Carbon Black for the all-new MINI Countryman Cooper S JCW Inspired

May 2018 | Business Goa industry Dossier | 45




Shivangi Walke brings mentoring initiative to Goa

Panel Speakers and participants present at The Goa #MentorHer event

GCCI – Young Entrepreneurs’ Forum, along with Thrive with Mentoring, a global non-profit initiative, organised The Goa #MentorHer, an innovative development option to women entrepreneurs and professionals in Goa, on April 16, 2018. Shivangi Walke, founder of Thrive with Mentoring, and Vaijayanti Khare, a renowned industry leader, were speakers at the event. During her keynote speech, Walke spoke about the importance of mentoring to ensure development of women in their businesses and careers. The event was attended by women professionals and

Shivangi Walke

entrepreneurs. The session was interactive, especially with the panel of mentors who participated in the event including cosmetologist Edna R, Goa University

professor Nirmala, SpanishIndian entrepreneur Natalia Alvarez, executive coach Anita Sachdev, and life coach S Vijaylaxmi. The Goa #MentorHer event was a pre-cursor to the Thrive mentor-mentee matching event, which will be led by Tejashri Pai, CEO Chowgule Industries, and will be launched in Goa in July 2018. More details about this event and registration for the event will soon open under www.thrivewithmentoring. com/join-thrive/. As a leadership development practitioner, Shivangi had the opportunity to introduce formal

mentoring programmes to several corporate, but most of the mentors were male. With the purpose of helping female leaders grow, she launched Thrive. Thrive with Mentoring matches senior, successful women with junior, emerging talent in a yearlong mentoring relationship. Thrive offers mentors and mentees guidance and a framework under which this mentoring relationship can blossom. Thrive was launched in multiple cities in Switzerland, and in April went to five cities in India – Delhi, Bengaluru, Hyderabad, Mumbai and Goa

Samena Capital buys 35% stake in Bloom Hotels at INR 330 crore valuation Bloom Hotels is swiftly moving ahead with its expansion plans after a primary capital infusion of `100 crores by Samena Capital in the company’s Series B investment round. The investment values Bloom at 330 crores and will help roll out the company’s innovative affordable brands to all Indian cities. With this investment, Samena Capital has taken a 35% stake in Bloom Hotels. After pioneering its unique hotel concepts across key India markets like Goa, Bengaluru, New Delhi and Gurgaon, Bloom has recently picked up the pace of expansion in pursuit of

its aim to set up 100 hotels across South Asia. The expansion coincides with India becoming the world’s third-largest airline market. Demand growth is also being driven by the emerging middle-income group and growing discretionary consumption. Commenting on the investment, Shirish Saraf, Founder and Vice-Chairman of Samena Capital said “We are delighted to partner with Bloom, a truly differentiated company that can bring transformational change to the industry. Bloom has proven its unique business model by achieving

46 | Business Goa industry Dossier | May 2018

operational profitability across its current portfolio in a very short period of time.” Sanjeev Sethi, COO of Bloom, said, “We are proud to have Samena on board as we grow the Bloom brand across South Asia in quick time. We look forward to benefiting from the Samena team’s proven track record in working with consumerfacing companies at the high growth stage.” As part of the pan India rollout, in February this year, Bloom Hotels opened two properties in Calangute, Goa. This included the official launch of the newly minted BloomSuites brand at a 140-

room hotel. The company has also lined up hotel launches in 20 other locations across the country, from Hyderabad to Kochi to Mumbai. Samena Capital, an investment group focusses on the Subcontinent, Asia, Middle East and North Africa (collectively, the SAMENA region). The firm has raised more than USD1.5 billion of capital since 2008 and has returned USD675 million to investors from over 45 full and partial exits. Samena Capital currently manages the total capital of approximately USD1.0 billion across two primary investment strategies: private equity and credit


@businessgoa ventures into Portugal, a homethe purpose would grown startup based provide services in Margao Goa, such as company has launched its registration in operations overseas. Portugal, birth With its very first documentation, international p a s s p o r t partnership with documentation Lisbon Attorneys services among Corp headquartered Gautami Raikar others. The strategic in Lisbon, Portugal, collaboration with will now assist Lisbon Attorneys Corp will startups to register a business ensure a fast track process as in Portugal too, if they choose the Portuguese associates are to. “The biggest reason situated right in the hub of the for to venture registry offices in Lisbon. The operations in Portugal is to services would be provided provide startup benefits at directly through them to ease Portugal for Indian Startups.” the processes. shared Gautami Raikar, Established in 2016, founder of provides business The step was initiated legal services to startups after the launch of a very across India as of now, with robust and attractive startup specialisation in handling policy by the Portuguese company registration, annual Government recently for their filings and intellectual citizens. The Goan interest in property protection. With the this, being that, the benefits of first step towards expansion the said policy also extends to internationally, Goan entrepreneurs holding now looks forward to expand Portuguese passports. its operations in UAE, USA, towards and UK

Earth Block Goa launched

Earth Block Goa inaugurated at the hands of Pramod Sawant, Sydney Mushanga, and Judith K.K. Kan’goma Kapijimpanga

In a bid to contribute towards a better and greener tomorrow, the construction industry is striving to adapt to and incorporate practices that are pro-earth. One such practice is the use of CSEBs during constructions, to reduce negative impact on mother earth. Compressed Stabilised Earth Blocks (CSEB) shall now be available in Goa. Compressed Stabilized Earth Blocks (CSEB), commonly called, Pressed Earth Blocks, are construction material made using damp soil under high amount of pressure to form blocks. CSEBs are an environmentally friendly alternative to clay bricks that most of the residential construction in India today

uses. Earth Block Goa has started a manufacturing facility in Navelim, Sankhali, Goa. The manufacturing facility was inaugurated on 26th April 2018 at the hands of Sydney Mushanga, Provincial Minister, Central Province, Republic of Zambia. The Guest of Honour was Dr. Pramod Sawant, Speaker Goa Legislative Assembly and The High Commission of the Republic of Zambia to India, Her Excellency, Judith K.K. Kan’goma Kapijimpanga. Other dignitaries present were, Dr. Radhika Nayak, Chairperson Ponda Municipal Council, Manila Gawas, Sarpanch, Naveli Village Panchayat and Bhola Khodginkar, Surla Village Panchayat

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fashion labels

Walk into a weird & wonderful world! A

midst the hustle and bustle of Arpora, located quaintly behind the popular Baba Woods Cafe, lies a fashion and design hub. Armed with a catchy slogan, ‘The Weird and the Wonderful’, one can expect to find a surreal selection of items here. Stroll into Fashion Labels, Arpora to find a series of classy boutique furnishings, designer apparel and accessories. Backed with an extensive background in home design from Home 360, New Delhi, rising Goan entrepreneur Jyoti Jahnavi Saxena dreamed this project into existence with the aim of bringing skilled artisans from across the country together under one roof. As a child and granddaughter to two proud freedom fighters of Goa, Jyoti Jahnavi is a Goan in every sense of the word. Nevertheless, she sought to make a name for herself and spent a good deal of time studying and honing her skills across the country. After heading the Customer Relationship Management unit of a US-based IT firm in Bangalore and thereafter playing the role of assistant producer at Balaji Telefilms, Mumbai, Jyoti looked within herself and sought to find herself through ventures of her own. This thirst for growth and self-fulfillment inevitably

Jyoti Jahnavi Saxena

led her back home to Goa where her entrepreneurial journey began. When she moved to Goa, Jyoti faced a great deal of difficulty in finding furnishing options that would best suit her home. Other friends too confessed facing a similar dilemma and would often ask her to aid them in decorating and making soft furnishing choices for their homes. It is at this juncture that the idea for creating a one-stop-shop for creative home furnishings, Fashion Labels, began to take

root. Unlike your average interior design store, Fashion Labels constantly houses the latest trends in home decor that stay neck-toneck with the industry and change every two months, in keeping with her vision. Apart from this, they also undertake bulk orders for return gifts, wedding hampers and customised gift hampers. Jyoti is also working on interiors projects for several clients from boutique properties to exclusive homes. Her company also designs their own prints for upholstery fabrics. Moreover, touched by cultures from Kashmir to Kanyakumari, Jyoti’s collection does not adhere to any one style alone. Rather, every piece found at Fashion Labels speaks of her experiences, India’s diverse ethnicities and their unique aesthetics

The collection at Fashion Labels ranges from accessories to home furnishing

Diksha & Aniket win Bharne Live Mannequin Challenge


odels from various background and influences came together to put on a great show at the recently held BLM (Bharne Live Mannequin Challenge), which is believed to be one of its kind. In the fifth edition of this competition, Diksha and Aniket emerged winners. BLM promoted by Bharne Group is a monthly event where in Goa’s best talent is chosen, mentored and photographed. These models gain exposure through various photo shoots and ad film contracts. BLM acts as a springboard for Goa’s budding talent. The event was judged by Mrs South India 2014, Jyosthna Venkatesh

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(Top): Samrudh Bharne, Jyosthna Venkatesh and Sanjay Bharne (Right): Winners: Diksha and Aniket

people tree / kishore m shah

It’s time for family startups

Surveys reveal that family-owned firms perform better over various parameters than their non-family-owned counterparts


wo interviews I came across recently made me gravitate to the essence of an age old fundamental, which is unfortunately eroding from our social fabric – family. The word itself conjures emotion, energy, togetherness, evolution, survival, conflicts yet a mystical continuity. A few days ago, Times of India carried an interview of celebrated Iranian filmmaker Majid Majidi. In response to a question, he said, “Family as an institution has always been a very important part of my films. I believe that protecting and preserving this institution is a crucial function of any society. If cracks appear in the institution of the family, it gets reflected in society. Very often, the disorders that we see around us, is a reflection of the state of the family system. I think, before we can build a proper society, we need to put our energies into building a solid family.” Another interview on CNBC featured a consulting firm, Credit Suisse, which had conducted a survey to understand the dynamics and deliverables of a family-run business and the essence was, “Over time, family-owned companies very structurally outperform in every region, every sector, and for small and larger companies.” Several surveys undertaken by reputed firms report that family-owned firms make more money, generate more cash and generally perform better in the financial markets than their non-familyowned counterparts. They have also outperformed most other equity markets. What is considered a family-owned business? Any company where a founder or their descendants owns 20% of the company’s equity. But it’s not just stock ownership. By definition, it also includes those companies where families control more than 20% of the firm’s voting rights, regardless of ownership. Why? Because family control through “day-to-day” management or board membership tends to be more important to the company’s performance than the amount of stock held by family members. Many of us may think family-owned firms are mostly small businesses – and they are. But there are many larger, more well known companies that also fall under this definition such as Alphabet (the owner of Google), Facebook and 52 | Business Goa industry Dossier | May 2018

Alibaba. Most of them, according to analysts, are in it for the long term and aren’t afraid to forego quarterly earnings targets to fund research and development for the future. Regardless of size, why are familyowned firms so much more successful? In the context of competition in the 21st century, family businesses have innate strengths over other forms of ownership, especially corporate. For most of the last century, companies confronted oceans of opportunities, which meant that winning strategies revolved primarily around size. Corporates had a clear advantage in the scale economy; they are especially suited to raising capital. But firms today are no longer looking out at endless opportunities. Instead, they have to struggle for their very survival in an intensely competitive world of slower growth, lower returns, and more frequent economic crises. In this brave new world, the corporate may slowly lose dominance. For family-owned businesses, the story is rather different. The qualities often associated with family businesses that were a handicap in the previous century are turning out to be powerful sources of advantage, giving them the potential to be more adaptive to the increasingly intense competition that all businesses are facing. Specifically, family businesses have the opportunity to achieve sustainable advantages in the following areas: Talent In today’s economy, success depends on finding, empowering, and retaining the most talented people. Businesses need to do more than offer competitive wages and benefits; they have to provide a “higher calling” that makes clear the intrinsic

value of working for their companies. A recent survey study states, “Employees want to work hard because they believe in their company’s mission and values, not just because they hope for a large salary or a fast promotion.” Much has been written about valuebased cultures, but families are the primary carrier of values, and business families can weave their values into the very fibre of the organisational culture. My personal experience has shown that because employees work directly with owners, there is often a pronounced loyalty effect, which augments the important sense of mission. ROTI (Return of Time Invested) Today, the priority has shifted from the quantity to the quality of investment. Outside funds bring with them pressure to achieve short term results that tradeoff with value creation. A recent study found that 78% of the CFOs would be willing to make decisions that destroy value in order to achieve their quarterly earnings targets. Family businesses don’t have these problems because they can obtain “captive capital” that will not easily migrate to other firms. Their owners often think in generational terms – in decades rather than quarters or years. Without external markets to please, they can take a long term perspective and make decisions on the basis of sustainable economic value. What’s more, since the money at stake is their own, family businesses tend to be cautious in their spending, and the discipline that comes from frugality is a tremendous advantage when top-line growth is harder to achieve.


Reputation There was an age where unhappy customers would write a letter. Now, they snap a picture of a defective product, upload it on social media and, all of a sudden, it goes viral. Corporates are often caught unaware, forcing them to stay alert, worrying about their reputation and ways to create personal accountability among a vast pool of employees. Family businesses have a big head start in building a “sustainable footprint.” There is often a personal connection between the family and the communities in which it operates; reputations matter to families. Response time Henry Ford’s company covered the entire value chain from end-to-end, including owning the grazing land for the sheep whose wool was

used to make seat covers. But instead of managing highly complex structures, the greatest organisational challenge of the 21st century is dealing with change. Family businesses are well-suited to dealing with this imperative of “rapid response”. They tend to have nimbler and flatter structures, where information flows quickly and easily in to the leaders and decisions come out. There is also often a more direct connection from the ultimate decision-makers to their employees. While less adept at delegating, they can more quickly and decisively commit the organisation to action. The privacy that family ownership allows also helps executives stay focused on strategy rather than meeting market expectations. Decision-making Decision-making



companies is primarily vested in management, which is generally not composed of majority owners. As a result, ownership of the business is split from day-to-day control, creating massive alignment problems. Efforts to make managers act like owners through stock options have backfired, leading to skyrocketing pay, and opening the door to numberrigging scandals. Family businesses foster engaged ownership. The simple fact is that fewer owners make the oversight of decisions far easier. The corporate has been the dominant model for business enterprises for most of the last century, and this is reflected in the fact that it was the best solution to a particular set of economic circumstances. But those circumstances are changing and family businesses that

manage the five sources of advantage described above are well placed to make it in the current era. So, sure, working in or with family can be trying at times. But one can’t argue with the results and Goa is aptly suited to take the lead both with its legacy of family businesses. With the recent startup and innovation policy being unveiled, the floor is open. The old generation – proficient in several trade, art, skills; and the new generation – armed with IToT – can create a revolution of “Family Mass entrepreneurship”. To me, that would be, in the true sense, Goa, Goan and Goenkarpann! The writer is an organisational development and talent analytics consultant. He is also the founder sponsor of Goa CSR Awards. He is the recipient of Limca Book of Records and Business Goa Award. Email:

May 2018 | Business Goa industry Dossier | 53

beyond classroom / dr pradeep b salgaonkar

Quality or service – what is more important? What is more important for a business to sustain and grow? Is it product quality, pricing, or quality of service?


colleague in academic circles was arguing that if a business has a great, high quality product distinct from the clutter, inferior service or a high price makes no difference to the demand for that product. He opined that the pull created by product quality and no other aspect of the marketing mix has any meaningful impact on demand. In support of his theory, my colleague narrated examples of a restaurant serving finger-licking Goan fish thali and the demand for it in spite of poor service and high pricing; a roadside vendor selling vadas, samosas and a unique capsicum mirchi bhaji and pav; third, a rassomelette vendor doing brisk business for many years. Interestingly, all these three businesses are small in size and in the unorganised sector, with a single outlet managed by the proprietors themselves. The pricing by these businesses may be comparable to other similar businesses, but the service here is poor, whereas product quality is considered the best. And, yes, they are all in business for a few decades now. This, one can say with confidence that these are sustainable businesses. My colleague has a point to make here. But is this phenomenon true in general – for business to succeed and sustain, does the product quality matters most? It made me wonder. What is more important for a business to sustain and grow? Is it the product quality or the pricing? Or is it the quality of service, which normally does not cost anything beyond being courteous and sensible to customers’ needs? To my mind, for any business to succeed, an excellent quality product and excellent service delivery are essential. They are like the two wheels of a bike; product quality is the front wheel whereas customer service is the rear wheel. Both these wheels, in excellent condition, are essential for the bike to perform effectively. Similarly, for a business to thrive, top-notch quality and customer service are imperative. Imagine a situation where one of the wheels of the bike is punctured and the rider is nowhere near a garage. The journey comes to a halt; the rider undergoes undue hardships and will have to take corrective action – either push the bike to a garage or remove the wheel and

take it for repairs. However, if the front wheel that is punctured, (equal to the inferior product quality here), the rider could still take advantage of the little air left in the tyre. He could sit at the rear end of the bike and drive the bike safely to the garage without any damage to the wheel. But if the rear wheel is punctured, (equal to the inferior customer service here), the rider is stuck and will have to take an alternate course of action which is more difficult, costly and timeconsuming. Excellent customer service can sell an inferior quality product easily, but selling a good quality product with poor customer service is difficult. And even if sales are executed in the short run, customer satisfaction and retention in the long run will not be achieved, thus making sustainability of the business impossible. A recent study on customer service indicated that 88% of consumers prefer dealing with a company with strong customer service rather than those with the most innovative product offerings. Only 12% preferred dealing with a company with an innovative product. Another study reported that 69% of customers who disassociate themselves from one business and move on to another do so because of real or perceived poor service. The product quality is a distant second, at 13%. To further support the point that excellent customer service is more important than having a good quality

product and right pricing, here are two instances from the market: Case 1. The Electronics Store In November 2017, Mr Naik, a retired Income Tax officer, wanted to furnish his newly built house with various electronic gadgets. He opted to shop at a store where he could get reputed brands of all his requirements. He didn’t mind paying a higher price for the right quality product and good service. So, as suggested by an acquaintance, he decided to makes his purchases at the Electronic Store. When Mr and Mrs Naik entered the Electronic Store, another customer was being attended to by two salesmen. Another salesman was standing in a corner doing something and the owner was sitting at the cash counter, busy with his work. The Naiks started looking around at various items displayed; nobody acknowledged their presence and attended to them. After a while, Mr Naik approached the salesman, who was checking inventory and told him his requirement. He was shown the required items. It took an hour for them to finalise all their required goods – most were small items, but there were a number of them, all adding up to over `1 lakh. Though Mr Naik was not happy with the behaviour of the salespersons and the owner, he made the purchases as he could get them all under one roof. After paying, Mr Naik requested the

The writer is a professor of marketing, corporate trainer and founder, SALDOTS Academy; and Chairman, Goa Management Association.Email: 54 | Business Goa industry Dossier | May 2018


salesman to put the items in his car, which was parked around 60-65 mts away due to non-availability of parking close by. The salesman refused to do so. Mr Naik then requested the owner to intervene. The owner too bluntly refused. Mr Naik was shocked and told the owner he was wrong to patronise the latter’s store. Under normal circumstances, he would have left the goods behind, collected his money and left, never to return again. But, because he needed the goods urgently on account of his housewarming ceremony and they had already spent a lot of time choosing the items, he was forced to make the purchase. Till date, Mr Naik narrates this bad experience to his friends and neighbours. Case 2. Service at a Restaurant A group of professionals decided to dine at a restaurant well known for excellent quality food, especially seafood. They reached the restaurant at around 8 pm. Although they had reserved a table and had asked for a sea-facing table, they were not provided one. All three sea-facing tables were already occupied by, and they

For any business to succeed, an excellent quality product and excellent service delivery are essential. They are like the two wheels of a bike; product quality is the front wheel, whereas customer service is the rear wheel. Both these wheels, in excellent condition, are essential for the bike to perform effectively had to settle for a table with a poor view. That was the first poor service encounter the group experienced. Moving on, they ordered drinks and snacks. The drinks were served after almost 30 minutes, whereas the snacks were served an hour later. Almost every item that was ordered was served with undue delay. Moreover, the people serving were neither helpful nor courteous. One of the members of the group wanted to know the difference between a masala fry fish and rava fry fish. To which, the waiter plainly replied, “One has masala and the other has rava,” without any

further clarification. Of course, the other group members answered the query, but that’s beside the point. At another point, the waiter took away a diner’s plate... even though he had not finished eating! Overall, the behaviour of the people serving was unprofessional and not courteous. The biggest blunder occurred when the group was given an incorrectly computed bill. The bill was inflated by over `2000 by charging for items that were not ordered. It was brought to the notice of the restaurant manager, after which the bill was corrected. However, no apology was tendered. Although the food was delicious, the service was atrocious. In such circumstances, will customers return to this restaurant? In conclusion, for businesses to satisfy and retain customers, and thus ensure sustainability and growth, it is essential to have an excellent product. But it’s not sufficient to merely have an excellent quality product; it should be backed by excellent customer service, thereby giving customers value for money

May 2018 | Business Goa industry Dossier | 55


Sham contract vs. sham claim There are only certain conditions under which contract labourers can seek regularisation


ery often, contract labourers – upon engagement for a longer duration – raise a demand for regularisation in absence of registration of the establishment under Section 7 of the CL (R&A) Act, 1970, or in absence of a licence obtained by the contractor under Section 12 of the said Act. Such a contract is usually termed as a “sham” contract and, in such an event, contract labourers raise their demand for regularisation. There have been a couple of judgements by few High Courts as well as the Supreme Court of India in which such claims have been rejected claiming there was an offer and acceptance between the contractor and the company in the matter of supply labour. Once it has been acted upon, the agreement is said to have concluded. Failure to register under Section 7 of the Act by the Company and under Section 12 of the Act by the contractor may certainly expose them to penal consequences. It does not alter the nature of relationship between the company and the contract labourers nor does it make the concerned workmen direct employees of the company. Because of non-registration of the principal employer or the contractor’s failure to procure a licence, an employee cannot be thrust on the principal employer. That does not really confer any right on the concerned employees to claim any regularisation for the lapses on the part of the principal employer or the contractor. The Supreme Court specifically held that if there were no vacant posts such a direction for regularisation would be impermissible. Giving directions to regularise a person only based on the number of years put in by such a worker may amount to back-door entry into the service, which is an anathema of Article 14 of the Constitution. The actual relationship between the principal employer and the concerned workmen needs to be clearly understood while deciding the question of regularisation. In the case of General Manager (OSD), Bengal Nagpur Cotton Mills, Rajnandgaon Vs Bharat Lal & another, (2011) 1 SCC 635, the Supreme Court had the occasion to deal with this issue and the tests which have been propounded were two-fold i.e. who used

to make payments and, in whose hand lay the control and supervision of the contract labourers. In the case of International Airport Authority of India Vs. International Air Cargo Workers’ Union, 2009 (123) FLR 321(SC), it was held by the Supreme Court that if the contract was for supply of labour, the labour so supplied will work under the direction, supervision and control of the Principal Employer; but that would not make the worker and employee of the Principal Employer, if the salaries paid by the Contractor, if the right to regulate him is with the contractor and the ultimate supervision an control lies with the contractor. The principal employer only controls and directs the work to be done by a contract labourer when such a labourer is assigned or allotted to him. It was specifically held that since a worker is an employee of the contractor, the ultimate supervision and control lay with the contractor. The question of regularisation does not arise unless there is a valid employeremployee relationship between the company and the workmen. This view has been affirmed by the Supreme Court in the case of UP Power Corporation Company Vs Bijli Mazdoor Sangha & Others, 2007 (113) FLR 821 (SC). A similar view has been held by the Supreme Court in case of Bilas Sarkar & Others Vs Union of India and others, (1997) 11 SCC 118, confirming that since there was no relationship of master and servant between the workmen and the railway administration, they could not be regularised as railway employees. In the matter of regularisation, neither the period of attachment as contract labour nor working for 240 days in a year as a contract labour has absolutely any bearing. In the case of Accounts

Officer (A&I), APSRTC and Others Vs K V Ramana and others, 2007 (112) FLR 918 (SC), the Supreme Court relied on the case of Secretary, State of Karnataka and Others Vs Uma Devi & Others, 2006 (109) FLR 826 (SC), held that absorption, regularisation or permanent continuance of temporary, contractual, casual, daily wage or ad hoc employees dehors the rules of Constitutional scheme of public employment cannot be granted by courts. Even if contract labourers or casual workers or ad hoc employees have worked for a longer period, they cannot be regularised again dehors the rules for selection. Again, in the case of Union of India and another Vs Arulmozhiniarasu and others, 2011 (130) FLR 1076 (SC), the Supreme Court referred to the case of Secretary, State of Karnataka and others Vs Uma Devi & others (supra) and reiterated the same principles of law. In the case of Hari Nandan Prasad and another Vs Employer I/R II Management of FCI and another, 2014 (141) FLR 74 (SC), the Supreme Court specifically held that if there were no vacant posts, such a direction for regularisation would be impermissible. Giving direction to regularise a person only on the basis of a number of years put in by such a worker may amount to a back-door entry into service, which is an anathema of Article 14 of the Constitution. Therefore, the “contract” cannot be held as “sham” merely because either the company has not been registered under the Act or the contractor has not obtained a licence under the Act. While such violations warrant penal action as stipulated under the Act, it does not confer any right to claim regularisation by the contract labourer. It is the existence of a relationship of employer and employee that matters

The writer is a visiting faculty to many B-Schools. He is a professional trainer in many PSUs and private sector industries. Email: 56 | Business Goa industry Dossier | May 2018

corporate citizen / Daniel Albuquerque

Context of Corporate Governance Business people, like all others, have to be held accountable and are governed by laws. In India, there are laws and institutions to keep businesses in check


he name Ramalinga Raju has become synonymous with massive embezzling of company accounts. He was the founder and chairman of the company Satyam Computers, which had a global reputation equal to the likes of Infosys and Wipro. It all changed when, on January 7, 2009, Raju confessed that his company had manipulated the accounts to the tune of over Rs 14,000 crore, about a billion USD at the time. It was a blow to the IT industry, a shock to the global business community, one which harmed India’s reputation. A CBI investigation was carried out and Raju along with his nine collaborators were found guilty and sentenced to imprisonment in April 2015. PricewaterhouseCoopers, the auditing firm which denied wrongdoing by arguing that it only worked on the information given to it, is presently banned by SEBI from auditing listed companies in its India operations for two years. Satyam itself was acquired in an auction by Tech Mahindra of Mahindra & Mahindra in April 2009 and was later merged with the parent company as Mahindra Satyam. Business corporations are most significant due to their economic power to determine the livelihood of millions of people. The functionaries of these corporations wield enormous influence and exercise control over governments and politicians. However, ultimately, rulers or business persons, have to be accountable to the people, who exercise the real power through the rule of law. Law governs not only citizens, but also corporations, co-operatives, associations and other bodies formed by the people – all equally. Corruption and mismanagement has dominated corporations ever since these came into existence. History’s worst case has been that of the East India Company. To correct the malady, the Crown created a new office called Governor General. Warren Hastings (1773-1785) was the first. The rest is history. He was recalled in 1885 and put on trial in 1888 for corruption and exploitation; thus, proving remedy can sometimes be worse than the disease. For independent India, its colonial history suggested that it must adopt a controlled economy. It continued until

global circumstances forced it to adopt market economy with liberalisation, deregulation and privatisation. India had even dedicated a ministry for the purpose called Ministry of Disinvestment and, presently, it has an even more appropriate name, Ministry of Corporate Affairs. While a company’s objective is to increase its own profits and the value for its shareholders, the law enacted by the government wants to ensure equity and justice to investors, vendors, and other participants in the economy. Thus, it is imperative that the companies’ dealings are fair, transparent and accountable to all stakeholders. Good governance calls for well legislated laws and implementation through a well-equipped regulatory authority. India has both. First, the company law; it has a history as old as that of the East India Company (1600), which has seen several avatars through the centuries; the present one is Companies Act, 2013. Second, the regulatory authority was established in 1988 and was empowered through the enactment of Securities and Exchange Board of India Act, 1992. It is very well known through its acronym SEBI. The scope of the Companies Act 2013 is very large; it comprises the entire enterprise of the nation. It mainly consists of formation and registration of companies through promoters—from large to a one-person company, their governance through duly appointed or elected functionaries, management of people and finances, and disputes settlement and award of penalties. Comparatively, the scope of SEBI is limited to regulate the listed companies on the stock exchanges in the country. Its main function is to safeguard the stability of the financial market. It does so through its powers to issue and implement regulations for good corporate governance. The Companies Act governs all manners of companies: public limited companies, private limited companies, limited liabilities companies, partnership companies and one person companies. Public companies are those whose stock is listed on a registered stock exchange and traded to institutional and individual investors. These companies’ shares are

exchanged and regulated by SEBI. Private companies are owned by promoters, and do not sell shares to institutions and the general public, but hold all shares privately with their own group members or family members and relatives. Although these do not come under the market regulator, they are governed by the Company Act. The Registrar of Companies is their immediate authority. Corporate governance came into existence due to a universal phenomenon of corporate financial scandals and widespread corruption. For instance, USA’s Texaco 10.5 billion dollars oil scam in 1987 and Enron energy giant’s scandal of 63.5 billion in 2001; UK’s Barings Bank collapse in 1995 and several similar incidences that shattered trust in these companies. Similarly, in India, as already illustrated in the case of Satyam, the ‘Big Bull’ Harshad Mehta Rs 4000 crore scam in 1992; and the Cobbler Scam in 1995, where hundreds of crores of rupees were siphoned off from a government scheme in the name of Mumbai’s cobblers by fictitious cooperatives. In India, the Confederation of India Industry (CII) became very conscious of the need for good governance and decided to act on its own. Under the leadership of Rahul Bajaj, chairman of Bajaj Group, a voluntary code was developed in 1998 titled ‘Desirable Corporate Governance’. SEBI, on its part, set up committees seeking recommendations for corporate governance. In 2000, it appointed a committee under Kumaramangalam Birla that distinguished between mandatory and non-mandatory compliances. The Naresh Chandra Committee, in 2002, recommended large scale auditory reforms. The Narayan Murthy Committee focused on the quality of financial disclosures. In 2017, under the chairmanship of Uday Kotak, an extensive and comprehensive report was presented that focused on the directors of the board, their quality, and the evaluation of the board. Having comprehended the context of corporate governance, in the following columns, we will deal with the core of corporate governance – the board of directors, the decision-making body under three aspects: fairness, transparency and accountability

The author is a writer with Oxford University Press and a published author May 2018 | Business Goa industry Dossier | 57



Connecting Goans with high speed internet

Digital Network Associates (DNA) is revolutionising internet services in Goa by connecting every Goan with high speed internet


ntroducing themselves as ‘the leading internet providers in the state in Maharashtra and Goa’, Digital Network Associates Pvt Ltd is a turnkey IT and telecom solution provider, persistent in bringing the world closer through its internet solutions. As an internet service provider, their main focus is on providing internet connectivity and developing customised internet solutions for companies and organisations, and incorporating cost-effective internet technologies in remote areas. Specialising in providing services through state-ofthe-art GPON Technology (FTTH), DNA has established itself as a well known and recognised service provider in the state. With the right infrastructure to support the increasing telecom demand of enterprise customers in Goa, coupled with the vision of connecting every Goan with high-speed internet, DNA Digital Network Associates, in collaboration with the Chandan Group Goa launched low-cost internet services in the state. Since inception, their objective has always been to provide customer-centric and costeffective solutions. Operational since 2006, DNA has been awarded ISP Licenses to operate in Maharashtra and Goa Circle, issued by the Government of India. Over the years DNA has played a major role in building the internet infrastructure in these areas, earning the company a reputation for fast, stable internet access and innovative internet solutions. Today, DNA is instrumental in providing high-speed internet and WIFI services to the entirety of Goa including areas like Panjim, Caranzalem,

Miramar, Patto, St Inez, Taleigao, Altinho, Dona Paula, Bambolim, Chicalim, Porvorim, New Vaddem, Baina, Sada, Mangoor Hill, MPT, Swatantrapath, Vasco, Verna, Colva, Margao, Fatorda, Gogol, Borda, Navelim, Comba, Ponda, Honda, Malbhat, Bicholim, Monte Hill, Aquem, Rumdamol, Tivim, Mapusa, Anjuna, Calangute, Candolim, Guirim, Arpora, Parra, Pilerne, Sangolda, Shanti Nagar, Morod, Canca, Khorlim, Ganeshpuri and Duler. DNA specialises in providing IT solutions to corporates, educational institutions and banking customers. In addition to Goa, the company provides internet services in Mumbai, Thane, Palghar, Pune and Satara district in Maharashtra. Their core competency lies in providing internet bandwidth intranet solutions to enterprise, corporates and educational institutions. With a subscriber strength of more than 80000 subscribers who can access internet and other value added services with a single sign-on, anytime, anywhere be it their residence, office or any corner of these areas, DNA has made their presence felt in the state of Goa and Maharashtra.

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DNA has set up its own Metro Ethernet Network with a capacity of 10Gbps scalable to 40Gbps, and also has a peering agreement with world’s leading content providers like Google, Akamai, Microsoft, Hotstar, Netflix, Facebook and Amazon. Due to this Peering Network, all the websites hosted on these Cloud service providers can be accessed at lowest possible latency. Offering streaming content at 0% buffering to its clients, DNA has established their point of presence even in the remote locations of Goa. It is this type of dependability and reliability that makes DNA stand apart from other Internet Service Providers. Moreover, DNA has deployed Public Wi-Fi Service in Palghar district for Bahujan Vikas Aghadi. The reach of the network was from Naigaon (Mumbai Suburban Station) to Boisar. The Public Wi-Fi covered the busiest locations in Palghar district like railway stations, bus stations, hospitals, markets, courts, corporate offices, colleges and schools etc. A network of a total of 1200 access points was deployed along with SMSbased authentication for each user. The users’ session logs,

as well as URL logs, were also stored for law enforcement agencies. DNA also contributes to providing ample opportunities to Goans and sons of the soil by employing 80% of their engineers and staff locally. Added to its several prestigious projects, is bagging a prestigious work order from Gas Authority of India Limited (GAIL). GAIL has appointed DNA as its official vendor to maintain its state-wide OFC network in Maharashtra. In an industry as diverse and as rapidly changing as the internet, it has become common for customers to switch providers frequently to keep up with their own changing business demands. Against this backdrop, DNA values their client relationships and prides themselves on their client retention rate. DNA aims to grow with their client’s evolving needs. As an internet service provider, DNA’s commitment to providing superior reliability and customer service in addition to their unwavering integrity play a critical role in their continued long-term customer loyalty. Every client is treated like the valued partner they are and is given the time and attention they deserve. DNA makes a point to check in with clients often to make sure that their needs are being met as their businesses evolve and change. DNA continues to be an innovative organisation, striving to drive changes in the internet service industry by taking the lead in providing affordable broadband access to home as well as corporate users. With the objective of providing integrated telecom and IT services, DNA has successfully positioned itself as a trusted technology partner for its customers

Real Estate


Where every day is a staycation

Adora De Goa, a Puruvankara Limited project, promises its residents the resort life...every day

One of Adora De Goa’s ambitious projects – “The Blu”


esiding in a dwelling that gives you a resort experience is the ultimate dream. One that isn’t so far-fetched, thanks to a Puruvankara Limited project – Adora De Goa. With a plethora of landmark projects bearing their name, Puravankara Limited is venturing into the hospitality space for the first time with Adora De Goa. The elegant project is sure to attract home buyers. Over the years, Puravankara has strived to discover the best locations and design residences around them to suit the modern Indian family. This time, the developer has surpassed expectations and raised the bar further by venturing into a project of this calibre. The developer guarantees future residents an experience like no other, a heavenly, resortlike lifestyle with tremendous recreational opportunities

“We are very excited to re-enter the western market with Goa. Adora De Goa is a unique project as it offers an array of amenities catering to the entire spectrum of customers from local population to NRIs and investors alike” Ashish R Puravankara

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Managing Director, Puravankara Limited

that today’s families dream of. Adding to its charm, the 32-acre land is located at Sancoale, near Dabolim, and comes with a beautiful panoramic ocean view and is strategically in central Goa, equidistant to both the lively beach destinations of North Goa and tranquil beaches of South Goa and a 10-minute drive from Goa airport. Despite being in a tranquil and serene location, Puravankara Adora De Goa will offer a unique position from where residents will be able to travel to other important parts of the state via a network of roadways. They will be able to avail public transport to meet daily needs. Children are close to good schools. Professionals working in the nearest business centres will be able to commute very easily. The supermarkets and malls will ensure that the families residing in this complex can

get everything they need to live comfortably. The unique residential project is integrated with features of a resort that resonates with the nature and culture of the state. The property offers residential homes with world-class amenities, retail spaces with high street coffee shops, restaurants, spa and boutiques with an unmatched hospitality and leisure retail experience. The residents can literally look forward to a view of the first of its kind – to possibly India’s biggest man-made lagoon – and will have a 150-degree panoramic view of Bogmalo Beach from the rear. Adora de Goa is a finely crafted project and is testimony to their quality and expertise. With its idyllic charm and accessible business environment, Goa is being viewed as a prime destination for real estate with growing interest from home buyers,

investors and holiday goers alike. Keeping this in mind, in addition to its general features, the project has an ambitious plan to build ‘The Blu’, and hopes to see the zone emerge as one of the must see destinations in Goa. The Blu is an integrated water leisure zone with F&B services for residents. It includes snorkelling zones, sunken bar, lazy-river, an aqua gym, water slides, open-air jacuzzis, private cabanas and a poolside restaurant servicing the area. The architectural design theme was ‘Goan outside and modern inside’. The elements in the development include brightly coloured façades that Goa is popular for, a street size piazza, baroque statues, Portuguese arch windows and canopies, and hand painted tiles outside homes. However, the interiors are deisgned with a modern feel, rain shower digital locking systems and

fixtures from world-class brands. Ashish R Puravankara, Managing Director, Puravankara Limited, says, “We are very excited to reenter the western market with Goa. Adora De Goa is a unique project as it offers an array of amenities catering to the entire spectrum of customers from local population to NRIs and investors alike. Over the years there seems to be a trend amongst buyers to invest in Goa as the residential properties here come with competitive prices, offers scenic locations and spacious homes and buyers intend to invest given the tourism relevance of the state. But we also believe our product will have a significant demand from the local home buyers in Goa and has hence been designed keeping in mind the local sensibilities” Further, he adds, “Adora

de Goa is a part of our commitment of developing over 10 million square feet of affordable housing projects across our important markets. Goa is the second launch in this pipeline following our Bengaluru project launch in January. The near future will see further launch announcements in the western region which will further strengthen our position in the region. Through all our projects, our endeavour is to offer quality luxury housing at an affordable pricing, and with Adora De Goa we want to make home buying an easy and affordable option for everybody who wants a slice of the happy state of Goa.” Striving to prove their excellence in this sector, owning a property in Adora de Goa will be a great investment into a comfortable lifestyle. Prepare to settle down in a state of utmost bliss

The Advertising Agency that assures market success

Download our e-Brochure

409, Citicentre, EDC Patto Plaza, Panaji, Goa 403001 Tel.: 2437822, 6456555

May 2018 | Business Goa industry Dossier | 61


One for the road


Weaving together the culture of Goa and Dubai into a flavourful tapestry, the GoBai Food Truck is truly on the road to success!

Kevin Vaz and Cara Davies

Pulled Lamb Vindaloo Burger

Shrimp Taco



here is no love sincerer than the love of food. Made popular by the Irish playwright George Bernard Shaw, this quotable adage rings particularly true for Kevin Vaz and Cara Davies. Dubai-based entrepreneurs. who have taken their love for Goan food to the next level with the introduction of their GoBai Food Truck. Though people have been selling food on the streets for decades, in recent years, innovative entrepreneurs are setting out in food trucks to promote their creative cuisines. In a city like Dubai, a melting pot of people from every corner of the planet, the street food culture is thriving. Boasting of more than 200 nationalities, each bringing with them a similar number of cuisines, the street food of Dubai is known to exist in an endless variety. However, as noticed by food aficionado Kevin Vaz, there appeared to be a glaring absence of Goan street food. And, thus, a journey began with a vision to introduce a slice of the quaint ‘susegaad’ experience to the bustling city of gold. In

Kevin’s words, “I had the idea of marrying traditional Goan flavours with international menu items – the fusion of the familiar with the unfamiliar, old tastes with new. Think Chicken Xacuti Shawarma, Rechaedo Wings, Pulled Lamb Vindaloo Burger, and so on.” An amalgamation of the words Goa and Dubai, the GoBai Food Truck blends the flavours of Goa with those of the emirate. Aware that replicating Goa’s authentic street food would not be easy, Kevin brought it up with a friend Cara, who loved the idea. They joined forces and, in 2015, Carvin Concepts was incepted, with a goal to introduce different street influences from around the world to Dubai. The first item on the agenda was the launch of GoBai Food Truck, a first-of-its-kind kitchen-onwheels, serving Goan street food in the city. Frequented by Emiratis and expats from the region, much of GoBai’s popularity lies in the fact that it is the only Goan fusion food truck in Dubai! Kevin proudly states, “The reputation of Goa precedes us, and people are automatically attracted. In

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addition, people want to try new things – well, as long as it has some kind of familiarity with the dish! We constantly strive to bring new menu items inspired by our local Goan flavours and based on my exposure to cuisines from different parts of the world.” Drawing on flavours from Goan cuisine – fused with international dishes, GoBai goes above and beyond in concocting uniquely delicious mashups and taking these creations to the streets, where they are eagerly received. “Our bestseller is the Pulled Lamb or Beef Vindaloo Burger which is slow cooked (8 hours) lamb in a medium spicy Vindaloo marinade, pulled and served in lightly buttered potato buns, topped with a Goan lemon vinegar slaw of red and white cabbage, radish, raw mango and pomegranate,” he adds. Very early on in the journey, Kevin and Cara recognised the need to create a community of lovers of good and authentic food in Dubai. Thus, Truckers DXB was created, a network of the best home-grown food trucks in the country with an aim to build the culinary culture of Dubai as well as revolutionise

the food truck movement by hosting several events focussing on food truck businesses. Striving to provide an umbrella of services under a single platform, Truckers DXB eventually evolved into managing F&B operations for major concerts, conferences, business events, etc. They now also engage in a few consulting projects for aspiring entrepreneurs who want to enter the market, and also help businesses come up with quirky ideas for the F&B offerings at events. Over the years, GoBai has grown and evolved as a brand, building quite an impressive reputation and following in Dubai. Emphasising the importance of passion and hard work as the ultimate impetus for success, along with having a great team of people and support verticals to make things happen, Kevin says, “We moved from being a new business with no clue in the F&B space to being awarded the ‘Best Food Truck’ in Dubai by the Dubai Tourism Authority at the recent Dubai Food Festival 2018. We were also nominated for the BBC Good Food Awards in the Best Food Truck category in our first year of operation. So, if you really believe in something and identify or create a need in the market, have the right motivation and ambition to create and execute something great – just do it!” Today, with several accolades to its name, GoBai is thriving. Looking ahead, Kevin says, “We would love to expand the concept to major cities around the world. We think we have a great offering and the only downside of operating in Dubai is that we can’t sell and/or serve pork. Our recipes with the pork offering will be gold in places like the US, UK, Canada, Germany and Australia. So, don’t be surprised if you see us on a street near you!”

What’s Up Goa


Taste the culinary delights of Maharashtra at Grand Hyatt Goa’s Chulha

Chulha, at Grand Hyatt Goa

The best of Maharashtra in Goa at Chulha, Grand Hyatt Goa Chulha, at Grand Hyatt Goa has continuously endeavoured to exceed culinary expectations through their range of cuisine from different regions. They now introduce delicacies from the land of the Marathas and Peshwas, with an assortment of iconic dishes from different regions of Maharashtra, creating an explosion of flavours that are guaranteed to leave one’s taste buds tingling.

Well-known as an iconic Indian restaurant in Goa, Chulha offers guests the chance to enjoy Indian cuisine amid warm, colonial architecture, all accented by authentic rural touches. The food is simple, with a selection of tandoor-grilled meats, seafood and vegetables prepared live to perfection, and served in clay pots and copper pans, evoking the ambience of a rural setting. The menu features authentic Indian and signature dishes from all its states. Guests can

Annual Mango Fest at Taj Fort Aguada Resort & Spa

King Alphonso Cheesecake

Taj Fort Aguada commences its flagship annual Mango Fest - presenting a huge variety of mango infused cocktails and mocktails in addition to delectable mango desserts specially curated by Executive Chef Hrudananda Behera to beat the summer heat. The festival includes replenishing cocktails and mocktails such as Mango Margarita, MangoPeach Sangria, Mango Tango,

Mango Custard Pot de Cream

Mango Basil Martini and Mango Jalapeno Mojito at a price of INR 650+Taxes. Desserts like King Alphonso Cheese Cake, Fresh Mango Crème Brulée, Mango Custard Pot de Cream, Totapuri Mango Shrikhand, Alphonso Angoori Rabadi and Fresh Cut Mangoes at an affordable price of INR 425+taxes. The festival concludes on 30th May 2018

64 | Business Goa industry Dossier | May 2018

reserve a private dining area, a perfect gathering place for celebrating special occasions such as intimate dinners, engagements and other landmark celebrations. Other features include an exhibition kitchen for guests to interact one-on-one with the chefs for a truly interactive experience. The festival held from the 1 to 15 May 2018, features dishes specially curated by expert chefs, designed to take your palate on a culinary journey from Kolhapur to Nagpur and everywhere in between, right here in Goa. Fused together with its rich variety of masalas, vibrant flavours, delicious staples, and condiments, Maharashtrian cuisine has a lot to offer to food aficionados. The festival highlights the cuisines from various parts of the state, ranging from mildly spiced to fiery hot. The chefs bring out a range of traditional Maharashtrian dishes which include both vegetarian and delectable meats in ambrosial Konkan, Kolhapuri and Malwani preparations. Some of the delicious offerings

included Sabudana Vada, Kaju Kothimbir Wadi, Koliwada Sungta, Kolhapuri Chicken, Rava Fried Surmai, Pithala, Kattachi Amti, Kombdi Pandhara Rassa, Mutton Tambda Rassa, and Bharleli Wangi. For those unable to decide what to choose, the festival offers the thali (vegetarian and non-vegetarian), to get a taste of the entire menu in one plate. To complement the thali, Grand Hyatt Goa showcases the famous Maharashtrian chutneys, like Mirchi cha Thecha, Shengdaneychi Chutney, and Lasoon chi chutney. The array of Maharashtrian cocktails included the Gin Gin Zingaat, Mee Marathi, Kadak Dada Kondke and Laii Bhaari. Also offered were refreshing traditional drinks like Aam Panna, Sol Kadi and Taak. Finally, to end this feast were scrumptious desserts like the famous Puranpoli and Amarakhand. Lunch: 12.30 pm to 3:30 pm. Dinner: 7.00 pm to 11.30 pm For reservations call: 0832 301 1510

Khau Galli at Vivanta By Taj Tandoori Chicken

Give in to your craving for street food with Khau Galli at Vivanta By Taj, Panaji. The Chefs at Caramel have crafted an eclectic menu comprising popular Indian street food delights, continental delicacies, barbeques and a selection of refreshing beverages. Sample the tangy flavours of the appetizing Ragda Samosa, Delhi AlooTikki, Kacchi Dabeli, Papdi Chaat, Bhel Poori, Poochka, Mumbai

Sev Poori, Chana Jor Garam, Makhana Chataka, Kolkata Jhalmoori and the Healthy Wealthy Sprout Chaat. Other delectable items include the Loaded Cheesy Fries Bowl, Potato Swirl, Super over Burger Rawas Peri Peri, and Bbq Sausages. The irresistible collection of cooling shakes includes the Chocolate Overload, Coffee Caramel, Mango Milk Cookie, Kit Kat Malt, Waffle Berry Banana and Almond Thandai


Orchid, Fortune miramar

Fortune favours the hungry

The chefs at Orchid in Fortune Miramar work their magic on traditional flavours to create something new and exciting, but familiar and comforting too Amsol

Seafood clay pot rice



five star hotel is always looked at with a fair amount of curiosity…from a distance. Because while the structures are beautiful and awe-inspiring, they are also intimidating and, let’s be honest, the average person can’t really afford to walk in and indulge. But the Fortune Miramar has set itself apart, beginning with the design itself. The large and pretty print of a large tree engraved on its front façade is very similar to the lovely trees that dot the Campal-Miramar landscape and make it so inviting. It’s been around for a over a year now, and the number of backpackcarrying teenyboppers I’ve seen strolling in has always made me curious. How much pocket money do kids today get anyway?! Or can you enjoy a meal at Fortune…without spending a fortune?! Apparently, you can. And the food festivals at their restaurant Orchid have been so popular that the menu has been revamped to include all the crowd favourites. We headed to Fortune Miramar one sunny afternoon, eager to sample their popular dishes, but also a little apprehensive that the heat would put us off from indulging in heavy eating. (hahaha, how we underestimate our eating abilities). We stepped out of the scorching heat and into the cooler environs of the hotel. With a modern architectural style, Orchid offers an informal dining experience. Glancing through the menu at first, the word that popped out at me was “Locavore”. Not herbivore, carnivore or omnivore. A word used to describe a person who

66 | Business Goa industry Dossier | May 2018

eats locally grown or produced food… I must have been under a rock; how did I not know of this word’s existence? Here, ‘locavore’ is used against dishes that would appeal to those who like local flavours – essentially Goan food with a twist. My eyes instantly sought all the Locavore offerings, deciding which to settle on. Although partial to a well made soup, I tend to avoid ordering it during the first visit to a restaurant, simply because I don’t want to fill my tummy so early on in the meal. But the soups could not be ignored. Unsurprisingly, I opted for the locavore option – a Goan chowder. This rich soup, enriched by the hues and flavours of coriander and turmeric, was an exciting beginning. With the seafood sitting pretty in their shells, the soup was poured into the platter at the table. Silky smooth and creamy (much like a bisque), this chowder packs a flavour punch. Locavore attempt #1 was a win. We also tried the carrot bisque served with croutons – a hearty rendition of a carrot soup. In the future, to make a meal out of a soup, I will try the chef ’s special – the Beer & Cheddar Soup. One of the dishes that has been incorporated because of its popularity, this heavy beercheese combination is served in a bread bowl and can be made with an addition of bacon or chicken. Having sacrificed space for the love of soup, I had to look past the “House Greens” section of the menu (but the Smoked Salmon Cornets and Pear & Blue Cheese Salad are on my mind) and look at the “International Fast Food”. We chose another crowd-pleaser, the Mac n Cheese

Croquettes, and Sheesh Tawook. One of the world’s favourite fast foods, macaroni and cheese, dipped in breadcrumbs and then deep fried. You can’t go wrong with that one. With a Lebanese marinade, the chicken pieces on skewers were perfectly grilled and served with a salad. The Pork & Prawn Skewers are also an interesting option. For the main course, we went through the Indian, Oriental, and Continental sections of the menu. We’ve heard very good things about the biryani here and almost ordered it if it were not for that “locavore” again. I never never order pasta at a restaurant. Because, one, I get my pasta fix at home, and, two, it’s too heavy. But my curiosity got the better of me and I couldn’t resist ordering Amsol with spaghetti. Kokum lends this rich coconut sauce a tangy flavour that I just cannot get enough of. Topped with pieces of fried pomfret and served with garlic toast, this dish represents the best of fusion cuisine. Our second main was a seafood clay pot rice. This dish is a meal in itself. A gravy of mixed seafood and vegetables cooked in oyster sauce on a bed of steaming rice, the Clay Pot Rice needs no accompaniment. A meal like this needed the perfect ending and we sure got it in the Chocolate & Kahlua Fudge, another chef ’s special. This moist, fudgy chocolate brownie came with a Kahlua cream and a scoop of Bailey’s Ice Cream. So sinful, but the food Gods will forgive me for this indulgence. A fabulous lunch and the best part is that Fortune Miramar offers these delicious, innovative signature dishes at a very reasonable rate. Every item on the menu is priced below `500. No wonder students throng the place! The hotel is also offering a very attractive packed lunch meal, for a mere `200 for vegetarian, and an additional `25 for non-vegetarian. With North-Indian Goan, Oriental, and Continental options, each meal comprises of a salad, two gravies, a bread, rice, dessert and another accompaniment. The continental meal has a salad, garlic bread, pasta, potato, stew, rice, and brownie. Making the most of every Goan’s favourite food season, Fortune is also hosting a mango food festival, comprising of dishes heroing mangoes like aam rass pani poori, tikki amchoor roti, and mango mojo-marinated pork kebabs. Phew. I’ve run out of breath listing all the amazing options at Fortune Miramar. When you visit Orchid next, don’t be surprised if you find me sitting in a corner digging into a dish… like a good locavore!


A fresh look at Goan tapas


ntares, Goa’s premier food and entertainment destination, recently joined hands with Nolan Mascarenhas, a notable Goan food blogger to bring their captive audience, an immersive Goan experience like none other. Sarah Todd, curator of Antares is an impassioned chef and connoisseur who made her name on the world stage during the sixth season of Masterchef Australia in 2014. Nolan Mascarenhas’ penchant for mixology, coupled with Sarah’s flair for all things food took the form of a Goan Tapas-Cocktail popup, where the heart of Goa’s food and flavours met in one glorious union of fusion tapas and cocktails. The first Act comprised of a solo cocktail that owed its title ‘Star Fruit Bellini’ to both its

main ingredient, as well as the emblem of its host location. Its composition included Star Fruit puree, champagne, vodka and sweet syrup. The second act was divided and a soft local into two parts. bread. The The tapas for vegetarian this session was canapé was Jack’s Oxtail tambdi bhaji, Bruschetta. along with Jungle Juice feta and olives. was its The first tapas accompanying comprised cocktail, Jack’s Oxtail Bruchetta of mussels served up in its cooked in chorizo, served traditional, rudimentary style: as paella in a tasting spoon. Urrak with green chillies, King’s beer shooters were the Limca, and dashes of rock salt refreshing accompaniment. and lemon. Zavoiche bhaji on Malai Vade Also served was Sarah’s followed suit as a vegetarian personal rendition of Cafreal alternative, coupled with Pao, a timeless Goan favourite an option of either Bimbli made of green curried chicken

Sarah Todd and Nolan Mascarenhas

Ben, Anuki,Priyanka,Netri and Nishant

Tapan Acharya

Monty Sally

Zavoichi Bhaji on vade

Martini or Keiri (green mango pickle mojito). The third set of tapas that were dished out as Kishmoor-infused prawn curry rice arancini with teflan. Its escorting cocktail was a Tamarind kum jaggeryinfused margarita with crushed black salt. The final Act comprised of dark chocolate Bebinca Mille Feuille with roasted coconut garnish. With it, Voodoo comprised of Kahlua, Cabo, and butterscotch schnapps, and a small measure of milk; a fitting end to an enthralling evening

Lokesh and Vaishaali

Jyoti Jahnavi Saxena

Ashish Kapur


Nitesh Katoch and Samiya



Rajesh Malhotra

Priya Hayes

Pranay and Zafar

Jade D’Sa and Rhea Henriques

Imtiaz Ali and Priya

May 2018 | Business Goa industry Dossier | 67



Pic: Aliston Dias

EO Goa takes off in style. Micromax founder enthralls audience Entrepreneurs’ Organisation (EO) launched its Goa chapter amidst great fanfare and panache. The star-studded evening saw eminent personalities from the entrepreneurial, social and political domain share their ideas of peer-support and the way forward. The show stopper was Micromax founder Rahul Sharma, whose journey and insights into building a billion dollar mobile phone company enthralled the audience. Actress and wellness entrepreneur Pooja Bedi shared her ideas about the happiness workshop that she has put together. Former telecom minister Milind Deora spoke about his stint as a policymaker. The EO Goa chapter was formally inaugurated under charter president Ashwin Khalap. Wellness entrepreneur, Sumeet Bhobe is the secretary of EO Goa

Milind Deora

Ambar Timblo

Rohan Khaunte

Shivanand Salgaocar

Vijai Sardesai

Ashwin Khalap

Harshvardhan Bhatkuly

Aparna Khaunte

Aakash Khaunte

Karan Bhatia

Darryl Pereira

Gaurang Suctancar

Rajesh Dempo

Yogesh Goel

Sonali Furtado

Sumeet Bhobe

Fatima Mahdi Karan

Vinay Kyanadi

Oscar and Elaine de Lima Pereira

Anil Agarwal

Abraham Vineeth

Wendell Rodricks

Venkat Mupanna

Ankit Pandit

Pooja Bedi Vishakha Agarwal, Vibhu Muppana, Babita Agarwal 68 | Business Goa industry Dossier | May 2018

Archana Bhobe

Tanveer Kwatra

Ginny Kohli

Asheen Laljee

Dhruv Rajani

Riddhima Bilochpura

Angad Bilochpura

Manek Contractor

Jerome Marrell

Pravin Kakode

Priyanka Dempo Pikale

Vinesh Pikale

Pratiksha Khalap

Aniruddha Dempo

Sandeep Goyal

Navneet Mathur

Tapan Acharya

Pramod Rane

Lucky Singh

Amit Palekar

Anirudh Agarwal

Chiranjeev Mehta

Rahul Sharma

Tony Diwan

Mahesh Khalap

Abhijit Ahluwalia

Ceaser Fernandes

Viraj Dhond

Atreya Sawant

Arpit Agarwal

Lyndon Alves

Chintan Gandhi

Shraddha Salla

Mahesh Pai

Shriniwas Khalap

Shraddha Khalap

Manish Gosalia

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May 2018 | Business Goa industry Dossier | 69


Zinaida Mascarenhas wins Dr Ameya Velingkar first Goan Entertainment Manager Award 2018 Designer Surgeon of the ‘Genuin Goan entrepreneur Zinaida Mascarenhas has won the ‘Entertainment Manager Award 2018’ for the entire Middle East at the TPMEA Awards held recently. ‘Stories by Zinaida’, based in Dubai, is an event management company founded by Zinaida, providing bespoke and elegant service to her discerning clients. The Total Production Middle East & Africa (TMPEA) is a leading global publication for live events, festival and concert touring industry, home to the industry’s biggest networking dinner, the TMPEA Awards. The annual TPMEA Awards is a glittering function that acknowledges some of the year’s outstanding individuals and the top players in the entertainment industry in the Middle East and Africa. TPMEA promises to shine a light on the consistent, worldclass development of these continents and the skills, expertise and creativity behind the companies and the people putting the Middle East and Africa on the live event map

Sameer Kelekar sells 4 US security patents to USA based enterprise

Sameer Kelekar, Goan network security expert and co-founder of Zeno Security Corporation recently sold 4 US security patents to a Silicon Valley based company for an undisclosed amount. Zeno Security Corporation has entered an agreement to sell its portfolio of network security patents (3 issued US Patents, and one pending US Patent Application) to San Francisco based RPX Corporation (NASDAQ: RPXC). Based in Bangalore, Zeno Security Corporation comprises of Goan network security expert Samir Kelekar, inventor and cofounder of Zeno Security Corporation and IIT Bombay alumnus with a PhD degree from Columbia University, Praveer Gupta (Co-founder) and Kapil Talwar. Kelekar stated “I am proud of the fact that this invention was entirely made on the Indian soil on my own. Probably one of the first times patents made in India by an individual inventor are acquired by a top valley company”

Rajesh Phaldessai elected as chairman of Goa Dairy

Rajesh Phaldessai has recently been elected as new chairman of controversy-ridden Goa Dairy. Phaldessai is a first time director on the dairy board. He was elected unanimously in the presence of the elected members at a meeting convened by the Registrar of Cooperative Societies at the dairy premises. On being elected, Phaldessai told media persons at Curti that he will work for the welfare of farmers, promising to resolve all the issues plaguing the dairy society. He refrained from commenting on the controversies surrounding the dairy. Phaldessai is also the sarpanch of Balli 70 | Business Goa industry Dossier | May 2018

Knee System’ Dr Ameya Velingker was honoured as

the first Goan Designer Surgeon of the ‘Genuin Knee System’, the first Indian knee designed and manufactured in India. The design of the Genuin Knee System was finalized approximately 9 years ago after minor changes in the design to solve critical problems affecting the existing knee replacement systems in the market. The final designed prosthesis was tested for several years at ENDOLAB, Germany. Dr Ameya Velingker is one of the youngest joint replacement surgeons to have done his first knee replacement at the young age of 27 years only. He is also the youngest life member of Indian Society of Hip and Knee Surgeons, Indian Arthroplasty Association. He is the First MCh (Ortho) in Goa. He leads in many surgical procedures like RPF knee by Johnson & Johnson, Gender Knee by Zimmer, Durom Surface replacement

Dr Wiseman Pinto honoured in Brazil

The Brazilian Society of Cytopathology (Societdade Brasileira De Citopatologia) honoured and felicitated Dr. R. Wiseman Pinto, professor and head of the Pathology Department, Goa Medical College and the President of Asian Academy of Cytopathology and Histopathology for his immense contribution to the development and advancement of Cytopathology education in India, Asia and internationally, at their XXV Annual Conference held in Balneario, Comboriu, Santa Catarina, Brazil. Dr. Pinto was also invited as a faculty and delivered two talks on cytopathology. Around 250 doctors from Brazil and Peru attended the conference

107 1. The ‘Fortune’ brand of hotels is part of which Kolkata-based business group? 2. Killer, Lawman, Integriti are brands of jeans from which company? 3. ‘Together We Can’ is the advertising punchline of which Indian publicsector bank? 4. Actor Ranbir Singh is the brand ambassador for which brand of oil from Hindustan Petroleum? 5. The Gala family promotes which brand of batteries in India? 6. Doug McMillon is the CEO of which global retail giant? 7. Karnavati Aviation is owned by which Group? 8. Identify this wellness entrepreneur Answers to BG Quiz 106: 1.Sir Martin Sorrell 3.Parle Agro 4.Cobra Beer 5.PawanHans 6.Nike 7.Dolce&Gabbana Email your entries to First all correct entry will get 1 year’s subscription to Business Goa

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Business Goa May 2018  

The Goa Startup & Innovation Day hopes to create a roadmap for the sunrise sector. Read about the best of business in Goa.

Business Goa May 2018  

The Goa Startup & Innovation Day hopes to create a roadmap for the sunrise sector. Read about the best of business in Goa.