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april 2018

VOL 4 ISSUE 4 panaji goa

goa’s only business magazine

RNI No.: goaeng/2015/59955

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

industry dossier

And the award goes to...

The seventh edition of Goa’s only business awards was celebrated in style and grandeur with 25 awardees taking a bow

News Views Articles Interviews Profiles Focus Analysis Opinions Events Features

contents Cover Story 14

The seventh edition of Goa’s biggest business awards feted 25 high-performers for business and corporate excellence

Focus Goa 24

Industry bodies slam GIDC for rent hike for industrial units. Goa government looks to HC to resolve mining crisis.

Starting Young 26

Wesley Cardozo dreamed of owning a restaurant at the age of 16. Years of hard work later, that dream has been realised


Enterprise 28

Oscar’s Junction is proof that a retail experience can be recreated in a small village

Interview 30

Newly nominated chair of CII Young Indians Goa Chapter, Nikhilchandra Khalap, speaks about his vision for his tenure

Goan Brand 32 28



Aditya Challa’s Susegado Goan Craft Beer is a pioneer in the craft beer segment in Goa

Industry 34

Local automotive bodybuilder Aerocoach constantly upgrades technology to meet market expectations

Lady Power 42

Through her published works, nutritionist Rohini Diniz motivates Goans to eat healthy


Professional Dossier 44

32 72



Homeopath Dr Kirti Naik lives by the motto “spreading smiles all around”

Hospitality 66

Nature Inn is a charming location that captures the essence of Goa. Fortune Miramar appeals to both corporate and leisure needs, making it a property for everyone

Bon Appétit 72 COLUMNS

Latest Recipe at Le Meridien Goa has an extensive menu covering many cuisines

52 People Tree

58 HR Mantra

54 Beyond Classroom

60 Money Matters

Kishore Shah underlines the need for a ‘mass entrepreneurship and innovation’ movement

Pradeep Salgaonkar says that a combination of key strategies helps to acquire and retain customers

R N Misra looks at the conditions under which aggrieved parties can appeal against orders passed by Labour Court or Industry Tribunal before a High Court

V B P Verlekar provides tips on how to file returns, negating the need for a consultant

56 Letter from America

62 Legal Eagle

57 Corporate Citizen

64 Economania

Jay Dehejia writes about BATNA – Best Alternative To a Negotiated Agreement in the current US political context Daniel Albuquerque feels that man-machine and machine-machine interaction will be boosted by the establishment of 5G

Amey Salatry and Ajinkh Phondekar write about the provisions of the Companies Act that relate to striking off of companies and directors’ disqualification Dr Manoj Kamat feels that the manufacturing sector has to perform better to improve the GDP index

08 Editorial 10 Corpo Scan 36 Education 38 Healthcare 40 Campus 40 BG Crossword 41 Book Shelf 46 Events 48 Curtain Raiser 50 Biz Bytes 70 What’s Up Goa 74 Goa Buzz 84 Newsmakers 84 BG Quiz 06 | Business Goa industry Dossier | APRIL 2018

APRIL 2018



RNI No.: GOAENG/2015/59955

POSTAL LICENSE No.: G-2/RNP/Monthly/Goa-19/2018-20



editorial Know your potential

The seventh edition of Goa’s only business awards was celebrated in style and grandeur with 25 awardees taking a bow


april 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 Serilda Coutinho Admin & Accounts

Ashok Kolvekar Sandra Dias Art Director

Govit Morajkar Distribution & Logistics

Mayur Santinezkar Pritesh Naik

Contributors in this Issue

Amey Salatry Daniel Albuquerque Jay Dehejia Kishore Shah Dr Manoj Kamat Dr Pradeep Salgaonkar R N Misra V B Prabhu Verlekar 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.

Every year, besides being a celebration of the best of business in Goa, the Business Goa Awards for Corporate Excellence has been a great learning curve for the sheer pearls of wisdom that are shared with us by the various speakers and awardees at the event. The success of the awards has undoubtedly always been about the sum total of the awardee experience. The Keynote Speaker at this year’s event, Union Commerce and Industry Minister Suresh Prabhu, set the context for the evening by saying that what works in today’s business domain are great ideas – he also went on to equate the idea of Business Goa magazine as a winning proposition. He left the audience in great spirits by announcing his mission to make Goa the startup capital of the country. He backed his vision by accentuating the various positives that Goa enjoys to attract the best startup ideas in the country. As a minister who has also been empowered with the civil aviation portfolio, Mr Prabhu also went on to say that Mopa could be an ideal air traffic hub and a propeller for jobs and commercial opportunities. He also quickly allayed fears of some, by stating that the Dabolim Airport will neither lose its business nor status, with Mopa coming into play. The Entrepreneur of the Year 2018, Shekhar Sardesai, is known for having successfully forging an international alliance with USAbased Kaman Aerospace Group Inc with his Kineco Limited Goa. When asked what the biggest challenge in his entrepreneurial journey – with regards to scaling up his enterprise – has been, Sardessai said that the challenge before every entrepreneur is that of mindset. By this, he meant that every entrepreneur has the ability to go beyond the horizon that he marks as his or her window

08 | Business Goa industry Dossier | APRIL 2018

Harshvardhan Bhatkuly of opportunity. It is mindset that determines ‘can’ and ‘cannot’. This, I believe, is the greatest takeaway for me, on a personal level. Henry Ford famously said, “If you think you can do a thing or think you can’t do a thing, you’re right.” When an entrepreneur sets up shop to do business, the boundaries of the operation, market, product, customers is all driven by his mindset. Not too long ago, I met another first generation entrepreneur, who is known for creating a large set of real estate offerings. He narrated how the founder of a now famous chain of superstores in North Goa came to him to purchase a single shop to start a convenience store. And that he convinced the retailer-to-be to buy 10 stores instead. Unsure about how he would go about multiplying his entrepreneurial vision tenfold, he was advised that the effort and time to run a single store or something ten times its size is pretty much the same. It is only a matter of mindset that makes you leap tenfold or makes you stay ensconced and play in a less-risk format. No doubt, entrepreneurial vision and appetite for risk is a very personal matter. But any entrepreneur, when he steps into the choppy waters of being the master of his own fate, must do some soul-searching and visualise how big the game can get – whether s/he puts it to practice is another issue altogether. But just being aware of one’s own entrepreneurial potential can make one do so many things. With the seventh edition of the annual Business Goa Awards, this magazine has consistently recognized and applauded entrepreneurial excellence. My hearty congratulations to all the awards winners who have walked to the podium over the years

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



Casino owners to feel the heat this summer The state Government has increased various licensing fees by 4.5 times compared to what was charged in the last financial year. This move was taken in order to increase the state’s revenue. The revised fee structure for onshore and offshore casinos came into effect on April 1, 2018. As per the newly rolled out rates, casino owners will have to pay more in terms of application fees for onshore casinos and off shore casinos licenses which has been increased from `20 lakh to `50 lakh. The security deposit (non-refundable) for new licenses for onshore and offshore casinos has been hiked from `20 lakh to `50 lakh. In addition to this, there has also been a hike in the annual recurring fee for onshore casinos based on the available space and the offshore casinos based on its passenger capacity. For onshore casinos with area up

New managing committee for Goa Entertainment Association

The Goa Entertainment Association (GEA), a registered body of Goan entertainers, has elected its new managing committee for 2018-2019 at the elections conducted at JD Hall, Majorda on March 25, 2018. The office bearers elected are Dean D’souza, president; Sebastian Almeida, vice president; Lester Rodrigues, vice president; Irineu Dias, secretary; Lionel Gracias, joint secretary; Orville Lourenco, treasurer; Peterson Gomes, joint treasurer, along with the rest of the members Jurgen Pacheco, Bryan Rodrigues and Francis Menezes. Dr Martin D’Costa, Neeraj D’Aguiar, Sergei Godinho, and Ramiro Sales have been appointed as coopted members by the elected managing committee

to 100 sq ms, the fees have been increased from Rs 4 crore to Rs 10 crore, and the fee for 100-300 sq ms, has been raised from `5 crore to `20 crore. The recurring fee for casinos having space of 300-500 sq ms has been raised from `5.50 crore to `25 crore. The fees for structures with 500-750 sq ms space has been raised to `32 crore from `7 crore. Casinos of 750-1000 sq ms warrant a `36 crore fee, up from `8 crore. The fee for those having over 1,000 sq ms space has been raised from `8.5 crore to `40 crore. For offshore casinos, the annual recurring fees have gone up from `10 crore

to `25 crore for vessels with 200-passenger capacity. For vessels with 200-400 capacity, it has been increased from `11 crore to `30 crore while vessels capable of carrying over 400 passengers have been levied with a `40-crore fee. The government has also increased fees for transfer of license for onshore casinos from `10 crore to `30 crore and it has been increased from `20 crore to `50 crore for offshore casinos. Apart from this, there is a drastic increase in the license renewal fee initiated by the government for both onshore and offshore casinos from `30 lakh to `1 crore

Mines bureau to take legal route

The Indian Bureau of Mines (IBM) has sought legal opinion on the procedure to be undertaken for closure of mines in Goa, given that mining activities were banned in the state following the February 7 Supreme Court order. According to a senior officer, mines cannot be closed completely because, post the auctioning process, mining activities will restart in the state. The apex court recently ordered the cancellation of 88 lease renewals and demanded that the state government initiate steps for grant of fresh leases. The Court further directed mining companies to stop operations in Goa post March 16.

10 | Business Goa industry Dossier | APRIL 2018

As per the Mineral Conservation and Development Rules (MCDR) 2017, mines closure plans have been categorised into progressive and final. Under the progressive mines closure plan, mining companies have to undertake reclamation and rehabilitation even while the mine is in operation and is a continuous series of activities starting from day one of the initiation of the mining project. While the term for review of a mining closure plan is every five years, this differs in the case of the final mines closure plan where mining companies have to submit their plan two years before the intended date of closure. According

Minorities Corporation gets its new chairman The Goa State Minorities Finance and Development Corporation has recently reconstituted its Board of Directors and has appointed a new chairman. This position will be now occupied by Jose Orlando Menezes, who holds a masters degree in Electronics and Political Science, and is also principal of Shri Shantadurga Higher Secondary School, Bicholim. The Corporation will ensure that benefits of all central government schemes for minorities reach the target group in Goa. It will also create awareness among minorities on social evils such as gambling, alcoholism, drugs, smoking so that family life is not destroyed. Some of the aims of the Corporation include giving top priority to uplifting the poorest sections of minorities, helping highly talented minority students by introducing special scholarships, promoting self-help groups among minorities, paying special attention towards health education and employment needs of the differently-abled, visiting other states and studying best practices for minority welfare, upholding human rights of minorities, promoting art and literary talent among the youth, among others. “The welfare of minorities and upliftment of weaker sections is my foremost concern,” said Menezes adding, “I will work hard to alleviate their problems and increase opportunities” to the officer, not a single company had submitted a final closure plan. It was only the progressive plan that was submitted. Hence, the state government has informed the Union mines ministry that 160 mining leases in the state will have to be auctioned when these expire in 2020



Centre set to revise CRZ norms

The MOEFCC has released a draft notification of proposed changes to CRZ rules

The Ministry of Environment, Forests and Climate Change has released a draft notification revising Coastal Regulation Zone (CRZ) norms. According to the draft notification, no-development zones will be opened up for economic and tourism activities. There are also plans to reduce the CRZ limit along rivers. Environmentalists are upset over the proposed changes, saying they are likely to have a significant impact on the coastal belt. The draft notification has been opened to the public for suggestions and objections; submissions of the same must be made by May 18. The Ministry is proposing the reduction of the CRZ, in

the case of rivers, from the existing 100 metres to 50 metres from the high tide line (HTL). In tidally-influenced, it has recommended, “The CRZ shall apply to the land area between HTL to 50 m or width of the creek, whichever is less, on the landward side.” As per the notification, this will continue to apply till the coastal zone management plan (CZMP) is duly approved. The MoEFCC has also introduced more classifications within the CRZ to delineate environmentally sensitive areas such as reefs, mangroves and nesting sites. It is further proposed to permit development in CRZ III (there are three classifications of CRZ) up

Directorate of Fire and Emergency Services to hold training programmes

Focused on citizens which was mentioned with the aim of in the Chief Minister’s providing employment 2017-18 Budget opportunities to speech. Training will young enthusiasts, be provided at the the Directorate of Goa State Fire Force Fire and Emergency Training Centre, St services, under the Ashok Menon Inez Panaji. Having National Skill Development contributed 34 glorious years Corporation (NSDC) titled to the fire department, the ‘Goa Disaster Response Cadet Goa State fire service has Corps’, will be introducing a strived to live by their motto training programme. “We serve to save”. This announcement was According to Menon, made by its Director Ashok the major challenge faced Menon during National Fire by the department is the Service Day at the fire force maintenance and nonheadquarters, Panaji. The compliance of firefighting intent behind the proposal equipment. Another obstacle for Goa Disaster Response faced by the Department is cadet corps (DRCC) is to getting building owners to provide community level implement and maintain support to the organised firefighting systems services of government. The throughout. When the owner volunteer corps will train is given occupancy, they have citizens with certain level the best equipment in place of skills and expertise and but in the long run owners fail the trainees will, in turn, be to maintain their premises. endowed with the required Menon stressed on this skills to seek employment in drawback as he feels it is the the public/private sector. The duty of every owner to ensure Goa Disaster Response Cadet that equipment is maintained Corps (DRCC) is a scheme and used periodically 12 | Business Goa industry Dossier | APRIL 2018

to a distance of 50m from the high tide line, provided the neighbourhood has a population density of over 2,161 per sq km according to 2011 census. The Centre has recommended that these areas form part of a new category – CRZ III (A). The four turtle nesting sites – Morjim, Mandrem, Agonda and Galgibaga mangrove areas – have been classified CRZ I, while city areas are CRZ II and all other areas along the coast are CRZ III. Tourism-related facilities such as toilets, changing rooms, drinking water facilities and shacks, that are temporary in nature, will be allowed on the seaward side of the road in CRZ III areas if the national or state highway passes through it. Hotels and resorts and other tourism facilities will be permitted

on the landward side of such roads in no-development zones in CRZ III areas. According to the notification, these facilities will only be permitted subject to the incorporation of a tourism plan in the approved CZMP. Fishermen with entrepreneurial ambitions can rejoice, as they will be permitted to offer ‘home stay’ facilities to tourists, without changing the plinth area/ design or facade of the existing house. Additionally, local communities will be allowed to repair or reconstruct their dwellings within 20m from the HTL. However, no new construction will be permitted. Unhappy with the proposed changes, greenies have pointed out that these relaxations will have an adverse impact on an already saturated coastal belt

Mining dependents can apply for government work There may be some respite for mining dependent people. The Directorate of Mines and Geology has invited applications from mining dependent people interested in taking up work under the Goa District Mineral Foundation (GDMF). The Foundation has collected a total of `180 crore for their disposal – `93 crore from North Goa and `86 crore from South Goa. Earlier, the High Court had rapped the government for not utilising the funds, which has pressed the Directorate into action. The High Court has also asked panchayats to create awareness about the DMFF so that the projects are taken up. Incidentally, the Goa District Mineral Foundation Rules 2016 came into force as early as January 12, 2015, but the north and south districts were only notified on December 7, 2017. Though the court had passed some orders during the Sonshi potable water crisis, the foundations only

held their first meeting on March 23, 2018. Over time, the Court has passed a lot of orders, the most recent on March 7, 2018 to ensure drinking water to Sonshi and also to lay a supply pipeline. The Court was shocked to find that, despite the availability of funds, there is a similar water crisis in Pissurlem. The High Court pointed out that the fund can be utilised to restore the ecology destroyed by mining and allied activities like health facilities, education, tree plantation, building roads, installing pollution control devices, sewage treatment plants, horticulture, dairy farming, and many more. Other projects could include the various stages of garbage handling and treatment, cleaning public places, making provision for toilets, setting up acoustic and wind barriers through extensive plantation along wind barriers


18 April to 6 May 2018



he seventh edition of the Business Goa Awards for Corporate Excellence was held on April 15, 2018. The best business minds in the state went home with a personalised award plaque amid applause from the crème de la crème of Goa’s business community. The spectacular evening at Goa Marriott Resort and Spa in Miramar witnessed a mammoth turnout of industry bigwigs and associates of Goa’s only business magazine. The chief guest for the

evening was Minister for Commerce and Industry and Civil Aviation Suresh Prabhu. The Minister spoke about Goa’s growing potential in the business sphere and expressed hope that Goa would become the startup capital of the country. The beautiful businessthemed set for the event was designed by Sushant Tari, Managing Director of TPT Productions Pvt Ltd. The evening began with a welcome and introductory speech by publisher-editor of

14 | Business Goa industry Dossier | April 2018

Business Goa, Harshvardhan Bhatkuly, who explained the idea behind the awards and applauded the contribution of all the awardees – 187 of them since 2012 – to Goa’s entrepreneurial domain. “The Awards were introduced by Business Goa magazine to recognize, felicitate and applaud the efforts of the high performers in Goa’s business domain. Over the years, the event has been much looked forward to by the business fraternity in the state,” said Bhatkuly.

The awards are classified under four broad categories – Real Estate & Hospitality, Excellence Awards, Best Companies and Top Honours. The distinguished list of awardees for 2017 included Le Meridien Goa (Best International Hotel), Mum’s Kitchen (Best in Goan Cuisine), The Black Sheep Bistro (Best in Fusion Cuisine), Café Tato (Best Goan Café), Adwalpalkar Constructions & Resorts Pvt Ltd (Real Estate Brand of the Year), Esmeralda – by

Celebrating Business Achievers Of Goa The seventh edition of Goa’s premier business awards was celebrated in style and grandeur with 25 awardees taking a bow. The event drew the who’s who of Goa’s business landscape to the Goa Marriott Resort, for an evening that celebrated excellence in business

The stunning set with “business growth” as a theme was created by ace set designer Sushant Tari (inset)

Naiknavare Developers (Real Estate Project of the Year), Nurallah K Veljee (Real Estate Consultant of the Year). In the Excellence Awards, The One School Goa bagged the award for the Educational Institution of the Year. Adventz Foundation was awarded CSR Initiative of the Year. Taxigo won Social Impact Campaign of the Year; Daniel Albuquerque was honoured (Business Writer of the Year; Dojo de Goa was awarded for Passion Business of the Year while

Ramanata Crisna Pai Raikar was feted for Contribution to Agriculture; Rajkumar Kamat was awarded Business Enabler of the Year. In the best companies category, the following companies were awarded: Airmax (Dealership of the Year), Diet Dr Clinic powered by Harpreet Pasricha (Health and Wellness Company of the Year), Dsouza Biotech (Food Processing Company of the Year), Vogue Luxury Weddings | Occasions (Event Management Company of

the Year), Airsonic (Travel & Tourism Company of the Year), and Numadic (Startup of the Year). The top honours went to Goa Shipyard Ltd (Make in India Award), Ganesh Daivajna (Professional of the Year), Marsha Almeida Coutinho (Young Entrepreneur of the Year); Walter Viera (Lifetime Achievement Award), and Shekhar Sardessai (Entrepreneur of the Year). The presenting sponsor was Vasco-based NRB Group.

The associate sponsor for the event was Fortune Miramar. The powered-by sponsors were John Distillers Pvt Ltd, Mahesh Pai Financial Hub, DNA Goa high speed internet, Copperleaf and Adora de Goa. The creative partner was TPT Productions Pvt Ltd. Radio Indigo 91.9 FM was the radio partner; Adcity Advertising was the outdoor partner; Primeslots was the In-City partner; Goa Marriott Resort was the venue partner. The event was organised by Savoir Faire Advertising

april 2018 | Business Goa industry Dossier | 15



Kaavya Murthy

Suzette and Rony Martins

Sabreen and Prahlad Sukhtankar

Le Meridien Goa

Mum’s Kitchen

The Black Sheep Bistro

Best in Goan Cuisine

Best International Hotel

Pradip Dhuri

Best Goan Café

Café Tato

Mahesh and Sahil Adwalpalkar

Real Estate Brand of the Year

Adwalpalkar Construction & Resorts Pvt Ltd

Nurallah K Veljee

Shantanu Sheorey

Real Estate Consultant of the Year

Educational Intitution of the Year

Nurallah K Veljee

The One School Goa

16 | Business Goa industry Dossier | april 2018

Best in Fusion Cuisine

Amrita Naik and Santosh Rai

Real Estate Project of the Year

Esmeralda by Naiknavare Developers

R Y Patil and Anand Rajadhyaksha

CSR Initiative of the Year

Adventz Foundation



Daniel Albuquerque

Suraj Caculo

Manguirish Pai Raiker

Business Writer of the Year

Passion Business of the Year

Raghu Shetiye

Social Impact Campaign of the Year


Daniel Albuquerque

Dojo De Goa

Contribuition to Agriculture Ramanata Crisna Pai Raikar Education Society

Rajkumar Kamat

Pankaj Joshi

Harpreet Pasricha

Keith D’Souza

Dealership of the Year

Business Enabler of the Year

Rajkumar Kamat

Shruti Tiwari

Event Management Company of the Year Vogue Luxury Weddings | Occasions


Supriya and Pramod Rane

Travel & Tourism Company of the Year

Airsonic Group

18 | Business Goa industry Dossier | april 2018

Health and Wellness Company of the Year

Diet Dr clinic

Luke Sequeira

Startup of the Year Numadic

Food Processing Company of the Year DSouza Biotech

R Adm Shekhar Mital

Make in India Award Goa Shipyard Ltd



Professional of the Year

Ganesh Daivajna

Swapnil Kamat, the host for the evening

Young Entrepreneur of the Year

Marsha Almeida Coutinho

Lifetime Achievement Award

Walter Vieira

Entrepreneur of the Year

Shekhar Sardessai

Mementos presented at the Awards to sponsors and partners (LtoR): Gunjan Malviya of Fortune Miramar; Udit Golecha of Adora de Goa; Mahesh Pai of Mahesh Pai Financial Hub; Abhijit Surlakar of John Distilleries Pvt Ltd; Narayan Bandekar, Angelo Nunes of Adcity and Sushant Tari of TPT Productions Pvt Ltd

Release of the Awards Souvernir: (LtoR) Urvija Bhatkuly, Harshvardhan Bhatkuly, Rohan Khaunte, Suresh Prabhu, Vijai Sardesai and Narayan Bandekar 20 | Business Goa industry Dossier | April 2018


suresh prabhu

Union Minister of Commerce & Industry / Civil Aviation

“Goa can be the startup capital of the country”

The Union Minister wows the audience in his keynote address and drew attention to Goa’s potential as a hub for enterpreneurial creativity. Excerpts of his speech


hen you think of Goa, you don’t necessarily think of business, unless you are in the tourism business. But Goa is a very unique place; despite being such a great tourist attraction, it is also home to different kinds of businesses, and very successful businesses. So that speaks about the kind of entrepreneurship that is available in Goa. Therefore, honouring such leaders who have made Goa also known for business is a great pleasure for me. As minister for industry, I always look forward to every place in India becoming a hub for business, but businesses cannot be built unless we are entrepreneurs and that is why the new challenge we are facing and will be

facing more in the coming years is how to create more and more entrepreneurial activity in India. There was a time, in earlier years when India became independent, the only place where you could find a job was with the government…but we soon realized that the government could not do everything, and we opened up the economy almost 30 years ago. Then we found that the private sector is a great provider of jobs. But again now, we are going to see another big shift into the business atmosphere; and I think we should be really readying ourselves for it. The big change that is going to come is from the businesses that have been growing over time. These business models will

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no longer be valid in the future, unless we revisit each of them – reinvent and try to find new business opportunities. One driver is technology, another driver – and we need to capitalise on this through startups – innovation. Startups give us an opportunity because those who are dominant have to defend; they have to ensure that the entire edifice that has been created should be protected. When we start to talk about early mover advantage, here, we may have a late mover advantage. Startups can provide a great opportunity… All the top venture capitalists came and told me, why don’t you give us these new startups…because when you invest in a startup early enough, you can make

money. Unfortunately, we don’t have a system of finding these early stage startups. We are working with the Goa government on how to make Goa the startup capital of India. Because great ideas are born when you are in close proximity to nature. Therefore, Goa could really be the capital for startups. We are moving from being a $2.5 trillion economy to a $5 trillion economy in the next 7-8 years. We need to explore new markets and new products. So therefore, we are working on a strategy, on how to create our footprint with new products and new markets globally. Incidentally, the biggest global agenda, anywhere in the world is trade. Even Trump wants to fight his war with China not

Narayan Bandekar felicitated by Union Minister Suresh Prabhu. Harshvardhan Bhatkuly, PublisherEditor of Business Goa is also on stage

The Business Goa Awards has established itself as a credible benchmark of Goa’s entrepreneurial talent: Narayan Bandekar


was very happy to be part of the seventh edition of the Business Goa Awards. I wish to congratulate Harshvardhan Bhatkuly and the entire Business Goa team for successfully completing the 9th year of operation and for consistently bringing out a quality publication that showcases the success stories of the Goan business community. Goa is often portrayed as a pleasure destination meant only for tourists; and business in Goa is only an excuse that executives generally give to be here. Goa is slowly shedding this image. It is slowly and steadily emerging as an aspirational business and investment destination for the upcountry as well as foreign investors.

with bullets, but with trade. Therefore, we are working on a strategy. Goa could emerge as one of the strong contenders to benefit from these ideas. Infact, services is a dominant sector in Goa’s economy, besides, of course, natural resources. We will push them for domestic as well as global growth, for which `5000 has been set aside. I would request my two friends who are ministers here to prepare a plan and try to take advantage of this, so that Goa can become a hub for services. The prime concern is that while we develop Goa,

A good amount of credit for this image makeover should also be given to Business Goa, which focuses mainly on the rapidly expanding business fraternity of the state. The Awards, instituted by Business Goa magazine, focus on assessing the performance of Goan businesses in various categories. Within a short span of time, the Business Goa Awards has established itself as a credible benchmark of Goa’s business, professional, managerial and entrepreneurial talent. NRB Group is extremely proud to be associated with the Business Goa Awards.” – Narayan Bandekar, the NRB Group. The NRB Group is based in Vasco,

Goa’s natural beauty should not be lost. Losing the identity of Goa for the sake of so called development may not be the right model. Goa, in my opinion, is best suited to be the leader in many areas. Goa’s human development indices, GDP growth, per capita income, and many other indicators stand out, as opposed to other states. We are working on a multifocal strategy. As commerce and industry minister also, I have had a number of meetings on what can be done for Goa. I am very happy that there

Goa’s industrial port town. The flagship business of the Group is production and export of iron ore through owning mining leases in Goa, with ore export primarily to China and the domestic market. Guided by the vision of Chairman and Managing Director Narayan R Bandekar at the helm of affairs, his sons, Joint Managing Director Nitin Bandekar, (Technical Director) and Amit Bandekar, (Director) the NRB Group has built a reputed brand in Goa with diversification into industrial products, hospitality brands in the hotel and restaurant sector, pharma, fitness, wellness, entertainment and education

is a magazine called Business Goa. And therefore I must compliment the editor and the publisher because to think about a magazine of business for Goa itself is an innovative idea, because you could have thought tourism magazine for Goa is ideal, or else a food and beverages magazine is also another good idea, but thinking about a business magazine itself is a great innovative idea and it has succeeded because it is a great idea. So if you have a great idea it will succeed. You need to be in Goa to think about a great idea! Therefore, I must

congratulate the organisers; and I am sure many of you are going to get awards deservingly and will try to do more to ensure that not only you succeed, but create that success for your state, for your country. I think that’s the greatest thing when Tata built their first steel plant in Jamshedpur, they were not building a steel plant, they were building India. I request all those who have won awards to build their own businesses and work for the nation” To watch the full speech. Long into

April 2018 | Business Goa industry Dossier | 23


Industry sees red over rent hike by GIDC-Goa

The rent hike by Goa IDC has raised several questions with top industry bodies – Goa Chamber of Commerce & Industry; and Goa State Industries Association taking a strong stand against the proposal communicate to GIDC to defer the hike on the lease rentals as of now and also decide to pursue with the Government either to give yearly grants to GIDC to take care of infrastructure or alternatively to take over the maintenance of infrastructure through its own departments like PWD and Electricity Department. The members also expressed strong resentment of failure of GIDC to provide basic facilities to the industry, failure to address industry grievances in time as well as inefficient and lack of L to R: Joseph D’Souza, Sandip Bhandare and Yatin Kakodkar of Goa Chamber of Commerce & Industry transparency in the GIDC functioning. The members also felt that industry was t a meeting organised by Goa by way of different taxes, provisions of being made a soft target to address the Chamber of Commerce and Industry employment to substantial number of financial difficulties of GIDC. to discuss the recent increase in GIDC people in the state, it was the bounden The members decided to unite lease rentals, the members of the duty of the government to support the together along with other industry Chamber and representatives of various industry by taking care of the creation associations to strongly pursue with the Industrial Estate Associations across and maintenance of the infrastructure. Government their demands Goa felt that the recent hike by GIDC The members present decided to has resulted in a huge and manifold increase as compared to the existing “We appreciate Goa IDC’s need for raising lease rent paid by them, thereby slapping additional funds to meet the ever increasing cost a huge financial burden on them. They of maintenance of infrastructure like roads, water questioned the purpose of such high pipelines, street lights, etc. But it would have to increase and felt that the ostensible look at other options like getting road and water reason of maintenance of infrastructure in the industrial estates did not warrant pipelines work done through PWD and streetlight such as increase. The members also maintenance through the electricity department. strongly felt that having contributed the While industry may be amenable to some increase in lease house taxes, infrastructure taxes as well rentals, the IDC will also have to take steps to rationalise various as other charges like water bills, transfer expenditures incurred by it and bring in more efficiency and and sublease charges and such other fees and further considering the contribution bhandare transparency in its working” sandip President, GCCI of the industry to the state exchequer


GSIA to fight “arbitrary” decision

Goa State Industries Association (GSIA) has strongly opposed the hike in rent of plots in industrial estates. GSIA convened a special executive committee and advisory committee meeting, and passed a resolution to fight the decision of the Goa-IDC and termed it “arbitrary”. GSIA members said that GSIDC’s decision to increase the rent rates is unilateral and needs to be strongly opposed as it will send a wrong signal to the investor community. “The sudden increase in land lease rate will also put a

heavy financial burden on early investors in the industrial estates,” said members. GSIA President Rajkumar Kamat commented, “For industry, it is not just a question of variation in lease rent, but the changes being made arbitrarily, without considering the legal lease agreements signed between GIDC and the unit holders. What is the guarantee that, in a year or two, a diferrent set of board members will not come up with another change, leaving inudstry high and dry? Lease rents should be defined on a long term basis and not changed arbitrarily.

“Lease rents should be defined on a long term basis and not changed arbitrarily. The change requires a wider consensus backed by an addendum to the lease agreements signed” rajkumar kamat President, GSIA

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The change requires a wider consensus backed by an addendum to the lease agreements signed.” The industry body, however, has not decided on the action it will take to make the GIDC withdraw its directive. In a board meeting on April 4, the GIDC had decided to raise land lease considerably to earn revenues. The new lease rates for plots is `8 per sq m for plots with area up to 2000 sq m, `16 per sq m for a plot with area between 2,000 sq m and 5,000 per sq m, `24 for plots with area between 5,000 sq m and 10,000 sq m and `32 per sq m for area above 10,000 sq m. The new rates are effective from April 4, and have taken local industry by surprise. The GIDC has also increased the cost of raw water supplied to units in the Verna industrial estate


Mining: Govt takes legal recourse

Government of Goa has filed an affidavit before the Goa Bench of the Bombay High Court asking for consent to transport ore


n a bid to break the deadlock on mining-related activity in the state, the state government filed a lengthy affidavit before the Goa Bench of the Bombay High Court on April 18. The government asked for consent to permit transportation of iron ore – for which royalty has been paid– ore which is stored outside mining lease areas. After considering rejoinders and arguments from petitioners Goa Foundation, the government, and respondents Vedanta Ltd and Chowgule Mining Pvt Ltd to submit rejoinders and arguments, the Court will have its final hearing on the matter on April 24. In its affidavit, Chief Secretary Dharmendra Sharma has underlined the fact that the Supreme Court, through its April 4 order, has allowed transportation

of iron ore extracted and placed at jetties, barges and ports before March 15. The government also pointed out that only 37.84 million tonnes of iron ore was extracted from 2015 to 2018. Following the Supreme Court lifting the mining ban and placing an annual cap on extraction to 20 million tonnes in April 2014, around 10.59 million tones or iron ore was extracted in 2017-2018. The Supreme Court, on February 7, 2018, had quashed the second renewal of 88 mining leases granted by the government and ordered the stoppage of all mining activity from March 16 this year. In that period, 2.25 million tonnes of ore was extracted. In the corresponding period in the previous year, 5.3 million tonnes of minerals was extracted.

The state government claimed that mining companies had not “over exploited” iron ore resources in the six weeks following the Supreme Court order. The Chief Secretary claimed this data serves as evidence that the government and leaseholders did not collude to facilitate over-exploitation of mineral resources in that period. The affidavit was submitted in response to a PIL filed by Goa Foundation claiming that mining companies, in collusion with the state government, had extracted large amounts of iron ore for nearly six weeks. Goa Foundation also alleged that the government had allowed mining companies to transport ore after March 16, violating the Supreme Court order. On March 28, in response to this PIL, the High Court passed an interim order stopping ore transportation. The order was challenged by some mining companies before the SC. On April 4, the Court permitted the mining companies’ plea to export iron ore lying at the jetties, which was excavated prior to March 15. The Supreme Court also said that other issues raised by Goa Foundation would be decided by the High Court. Referring to Goa Foundation’s claim that iron ore transported from mining areas and outside the lease areas from March 16 belonged to the state government and is a public resource, the government stated that it had allowed transportation of royalty paid ore that was stored outside leasehold area before March 15. During the April 18 hearing, the Court asked all parties to file written submissions and were given an hour each to argue their matter at the subsequent hearing on April 20. The final hearing is on April 24

April 2018 | Business Goa industry Dossier | 25



Wesley Cardozo

Keeping the embers of a dream alive Wesley Cardozo director and owner of gastro pub Embers, refused to give up on his dreams

Modern, with an English vibe. The interiors at Embers By SERILDA COUTINHO


dream doesn’t become reality through magic; it takes hard work, determination and sweat, said Colin Powell, former United States National Security Advisor. Wesley Lester Cardozo has lived by these words, setting up his own gastropub – after garnering years of experience from his various jobs – Embers. A younger Wesley witnessed his parents own and run several restaurants in South Goa. More than the food, he was interested in Goa’s nightlife and party culture. Determined to work his way up from the bottom rung, Wesley took up a job in a restaurant at the age of 16. After earning a degree in Hotel Management, the young lad found himself attracted to management roles in the hospitality sector. He soon moved to the UK and secured a management position at Quilon, a Michelin-starred South Indian restaurant under the Taj hotels. He worked there for five years before he went to work at Amaya, a fine Indian dining restaurant in London owned by the MW-Eat group. It was during this stint that Wesley started dreaming

about starting a placed called Embers. He dreamed of providing youngsters and families a place to enjoy music and good food. Sharing his excitement as well as the struggle of starting his first venture, Wesley says, “I got the groundwork done, the papers for the lease and even the team needed to run Embers, but it required massive investment. We struggled to manage finances and eventually had to shut down.” But there is a reason why it is said failures are stepping stones to success. Wesley refused to let his dream die; his positive attitude helped him cope with the struggles that came along his way. His passion to fulfill his dream grew stronger. After closing down his UK venture, Wesley returned to Goa and decided to put his skills to use in his motherland. And, thus, Embers was established at Tonca in Panaji. Initially, a three bedroom apartment, Wesley worked closely on the renovation and design to achieve the modern and relaxing gastropub he was looking for. Revealing the reason behind the name, Wesley says, “According to the dictionary, embers means a small piece of burning or glowing coal or wood in a

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Following his dreams: Wesley Cardozo

Wesley’s passion to fulfil his dream grew stronger. After closing down his UK venture, he returned to Goa and decided to put his skills to use in his motherland dying fire and since we are into grilled foods, where our guests can see the drama happening in the kitchen while the dishes are being cooked on an open fire, the name Embers compliments our food.” Inaugurated this February, Embers specialises in British and Goan cuisine and is known for its live Indie and karaoke events. It also hosts a number of private parties. Embers also has its own inhouse bar, Kopak, which is named after the Konkani term kop, used to describe a peg of alcohol. Some of their unique signature cocktails are Spicy Pornstar, Cucumber and Mint Martini and Pomegranate Caipirinha. Their signature dishes are pork spare ribs, filet mignon (beef steak), veal

escalope and watermelon and feta salad. Explaining the tagline ‘Modern, Live and Healthy’, Wesley says that the ‘modern’ is evident from the interiors. The decor gives the place a British vibe through the paintings of prominent English celebrities like Princess Diana, James Bond and Mr Bean and a lifesize portrait of John Lennon painted by Raja Natraj, an eminent tattoo artist. Embers is also modern in their style of plating and choice of food and drinks. The ‘Live’, of course, is the essence of Embers, and it is this feature that attracts people who want to hang out with friends and family. Whether it is the bands, solo artists, DJs, or the sizzling, grilled food, the most attractive elements of

Embers are ‘live’. ‘Healthy’ is represented by the organic greens used in the food as well as the fresh seafood and meat. Embers organises a number on weekends. They recently hosted Retrospective, featuring live bands Sunset jam, Retro Project and Acoustic pulse, along with DJ Rainman. The Easter ‘Egg’Stravaganza event featured an amazing lineup of Rhythm and blues, Midnight Sunrise and solo artist Emmanuel Antao. In a short time, Embers has received a very encouraging response from its guests. They constantly voice their appreciation on social media platforms like facebook, Instagram page, and also through blogs and yellow pages. Discerning diners can browse through menu options on Zomato and Trip Advisor. Making a mark in a tourist and foodie destination is no

easy task, especially in Goa, where people are constantly looking for a change in food and entertainment. Ready to face these challenges, Wesley says that they have managed to stand out from other established gastropubs in Goa with their non-commercial live Indie music in addition to their food and ambience. He is also proud of the fact that, though they are located in a residential area, neighbours are not disturbed because of the soundproof structure. Apart from this, while coastal areas are ghost towns during the monsoon, Embers attracts locals as well as tourists who prefer to party and dine in the city. Speaking about his future plans, Wesley wants to experiment with his culinary and management skills through fine dining restaurants and gastropubs in Goa as well as out of the country

April 2018 | Business Goa industry Dossier | 27



Oscar’s Junction

Innovation junction


Oscar’s Junction


scar’s Junction is testimony to the fact that a city-like retail experience can be recreated in a small village. Situated in Majorda, OJ supermarket caters to all kinds of local needs. Riding high on its central philosophy of ‘one-stop shopping‘, Oscar’s Junction has grown exponentially over the past decade. In early 2000, founder Oscar Gonsalves took early VRS from a career in education. Due to the lack of grocery stores in the vicinity, residents had to travel to the city for daily needs. Thus, Oscar’s Junction, a grocery store, was opened in 2002. Since its inception, the superstore has gone through a major transition. Sixteen years hence, it has transformed into a fullfledged supermarket. It has also expanded, with another branch in Max Mall, Vasco. Having achieved his goal, Oscar returned to a career in education and handed over the reins of Oscar’s Junction to his son, Ashford Gonsalves. Ashford has been at the forefront of the business ever

Oscar’s Junction’s flagship store in Majorda is spread across a massive 6500 square feet

Oscar Gonsalves

Since its inception in 2002, Oscar’s Junction has gone through a major transition. Sixteen years hence, it has transformed into a full-fledged supermarket. It has also expanded, with another branch in Max Mall, Vasco

since and has adopted modern techniques to revolutionise the mega mart. OJ’s flagship store in Majorda is spread across a massive 6500 sq ft. In terms of basic facilities for a shopping experience, OJ checks in on most fronts. It includes parking assistance, faster checkout, air-conditioned shopping and friendly staff. It houses all kinds of requirements like clothing, school stationary,

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liquor, frozen foods, fish, home appliances, etc. Located in the tourist belt, Oscar’s Junction attracts tourists all round the year. Ashford however, says that locals continue to remain the focus. He wants to create an even better shopping experience that attracts people even from neighbouring villages, towns and Margao city too. OJ has adopted a sales strategy which focuses more on the footfall than any other parameter. “Companies with whom we’re in business with want to know how many people enter the store. They are not concerned if people buy or not as long as they see their brands on the shelves. That’s what matters to most companies. More people entering your store, implies more people are talking about it. Word of mouth helps us a great deal,” informs Ashford. Highly Rated Oscar’s Junction has received positive feedback on online forums and rating websites. They highlight the customer centric-approach and quick response to customer

feedback. “Earlier around 300-400 people used to enter our supermarket every day; now, 2000 people walk in. This transition has happened because we have taken customer feedback and worked upon it. As a brand, we are constantly evolving by trying to understand our customer requirements and are building upon that,” Ashford elaborates, adding that, even healthy criticism helps reform the business. “We are not afraid to admit that we make mistakes. I use criticism as a way to grow and make better decisions going forward… We have to fulfill even small demands of a customer. If a person wants a small pin and I get that pin for him, I might not make a profit but I know that I have earned the customer’s trust. So, in that process, I have retained the customer.” Ashford is involved in every aspect of the business and believes his practical training and experience as well as knowledge of markets has helped him. “I have studied markets abroad; they don’t believe in making quick bucks, but about creating volume turnover – more footfall, with a lesser margin. If you follow that concept, companies are ready to invest in your business.” He adds, “I’m very grateful to my dad for giving me a platform to work on. It gave me reason to return home and build OJ into an established supermarket brand.” Oscar’s Junction has tied up with various brands to provide the supermarket a multi brand retail experience. Their clients include Monginis, Wildcraft, Swiss Military, among others. OJ also has a money transfer facility in partnership with Western Union. With retail competition in the country is at a competitive

high and the entry of global giants like Walmart, Alibaba and Amazon, many local players feel threatened. But Ashford firmly believes that online businesses have to offer heavy discounts to thrive, something that can’t be sustained in areas with less population. Ashford reveals that due to technology, tracking daily sales has become easier and the data collected makes it easier to devise strategies. Billing has also become faster due to the barcode machine. He feels that every entrepreneur should stay informed of new technologies and innovations that can be adopted to stay relevant, “What is critical to success is the ability to create innovative options to deal with obstacles as they occur.” Loyalty Program OJ’s loyalty program has been

Ashford Gonsalves

a game changer. Customers get a minimum of 2% of the loyalty points on every purchase, which can be redeemed in the future. Ashford says that there have been instances when customers have shopped for more than `5000 worth items while redeeming loyalty points. Ashford also believes that the loyalty program

has successfully changed the shopping habits of their customers. They now shop for a one-time bigger basket as they know they will get heavy loyalty points instead of multiple smaller baskets. Oscar’s Junction now plans on revamping the local produce segment as the company sees huge potential in this. “I always notice that

foods which are sourced locally sell faster than what you get from outside,” says Ashford, who opines that product placement needs to change at regular intervals so that customers see something new to buy every time they enter. “We experiment with new products in different places. We have to change shelves constantly to see what is selling better in which area. It all comes at a cost as you lose some business, but at the end of the day it’s worth it,” says Ashford. Offering advice to new entrepreneurs, Ashford suggests that youth shouldn’t be blinded by money. “One can achieve any target if one gets a good package. In the process, true potential is not utilized because a person is not tapping talent, but only chasing money. Follow your dreams, money will follow, says Ashford”

April 2018 | Business Goa industry Dossier | 29


We spoke to the recently nominated Chair of the CII Young Indians Goa Chapter about his vision for the year ahead

and invite achievers and change makers. Young Indians wish to explore, understand and relate to another land’s culture, governance and commerce. For this, we will arrange seminars and meetings with foreign consulates, entrepreneurs and companies of global excellence. We will participate in industrial and trade tours within India and to other countries. Moreover, we

Nikhilchandra Khalap

“Yi wants to be the voice of Goans across the globe”

Nikhilchandra Khalap has been nominated as the Chair of CII Young Indians Goa Chapter for 2018-19. He is a founding member of the Goa Chapter of CII Young Indians. With a diploma in civil engineering, he has worked as a project manager for M/s Integral Holding and managing director of SDM Logistic and Bardez Bazaar Logistic (BBL). Apart from this, he has also worked as a consultant for Mukund Bazaar Co-op Society, helping them to start their store and logistics centre in Sawantwadi and franchisees in Sindhudurg area. Nikilchandra is currently working as a general manager of Nirmal Agencies, catering to over 500 clients. He is also working as consultant for Mahalaxmi Intrade Pvt Ltd, and Sahyadri Naturals and Phytochemicals Pvt Ltd. Nikhil has been the State Convenor, Congress Seva Dal, Goa; Member of Trans Asian Chamber of Commerce and Industry, Mumbai; and as a member of Rotary Club of Mapusa, where he served as Rotaract Committee Chairman. As the newly elected chair of Young Indians Goa, what are your goals? The objective of Yi is nation-building and we believe that development should be a people’s movement. We have threepoint missions to achieve our goals. For a developed India, we have to: 1) create an efficient and innovation-based economy; 2) work to transform India from the current account deficit to a current account surplus i.e. our exports should be more than our imports; and 3) instill values in a community by creating awareness of subjects of social relevance. We believe that working on this three-point mission at a micro level will one day show greater effect at a collective level. Though India is considered a developing country, more than 30% of the population is skilled, well educated, with good income source and contributes to society in various ways. Many of them are innovators and creative in their field of work. That’s our strength and such assets will further build more assets. We believe we have to acknowledge changemakers, trend-setters, innovators, intellectuals, educationists, farmers and entrepreneurs in India and our local area. We have to be their voice. We will organise learning sessions, meetings and debates to ideate. This year too, we will host the ‘Thought Leadership Conclave’ 30 | Business Goa industry Dossier | april 2018

will organise entrepreneur boot camps, personality development and training session to further our goal of instilling the spirit of entrepreneurship and to create a success mindset. Thirdly, to instill values in a community, awareness is required. The more intense the awareness, the better it will shape character and the nation. Yi runs a number of programmes like ‘Masoom’ to create awareness about child sexual abuse. We will also have programmes on road safety, ‘Swachh Bharat’, and organ donation. We will strive to create awareness on conservation of rivers and growth of forests as well as work with farmers. We have already chalked out plans for this and my team and partner organisations are very excited to execute the work. What objectives do you want to draw attention to in the year ahead? Our objectives are clearly defined and we have made our plans accordingly. Yi Nationals has also directed us to work on policy advocacy for the government. We are also starting the ‘Why Not’ series this year. The plan is to ask relevant questions and initiate discussions on various subjects. For example, why can’t Goa be an export hub of the country? Or, why can’t Goa be a research hub? Or, why

can’t we have uniform civil code in all states? We will be inviting experts on the subjects to discuss them. We are also planning to plant one million trees by way of seed bombs and create awareness on bio-diversity and water conservation through a series of lectures in colleges and other organisations. What are some of Yi’s recent successful initiatives? Through Yi Goa Chapter’s ‘Masoom’, we have sensitised 40,000 children about sexual abuse. We have also conducted a number of entrepreneur boot camps and career counselling sessions for young entrepreneurs and students. We have also successfully conducted financial literacy programmes for lower income groups. We started an awareness drive against use of polythene bags in Mapusa market. We asked people to replace these polythene bags with bucket or bags which can be reused to carry fish and vegetables. We also came up with an innovative idea of starting a kiosk at Calangute beach where people can dispose used plastic bottles and other litter and, in return, they get discount coupons from local restaurants, clubs and retail stores. We successfully experimented with this waste collection model. It created a win-win for the sponsor of the kiosk as he was allowed to advertise his brand, for the outlets and clubs as they got customers, and for the Panchayat and garbage collector who were happy as they didn’t have to collect the litter. Collection agencies were able to collect garbage from one point, thus keeping the area clean. We will soon replicate this model on a greater scale. As the voice of Young Indians globally, what are some of the youth-centric initiatives that Yi will be looking at this year? We are a small group, but we leverage our work by partnering with other organisations and institutes. Some of our partner organisations are colleges like Goa Institute of Management and DMC College. We have our extended arm, ‘Yuva’, in DMC College. We are planning to start more Yuvas in other colleges. Besides promoting Yi initiatives, we are planning industrial visits, career counseling sessions, training sessions and entrepreneur boot camps for them. How successful has Yi Goa been in providing a platform for young entrepreneurs? Yi has provided great exposure and opportunity for networking to its members and young entrepreneurs. We get an opportunity to meet successful


people, innovators and change makers in society. As one of the founding members, tell us about Yi’s progress since its establishment. Has it been able to grow on par with other chapters in the country? Yes, we are growing every year and we are one of the finest chapters in the country. Though Goa is a small state, the efforts we have put into ‘Masoom’ (of sensitising 40,000 children) and in organising Entrepreneur boot camps have been appreciated by the national team. The Thought Leadership Conclave we held last year was a great boost for getting recognition by Yi National and society in Goa. What is Yi’s vision in Goa? Youth leadership, thought leadership and nationbuilding form the bed

rock of Yi. As I said earlier, development should be a people’s movement, which is why we aim to reach out to maximum number of people in Goa. We want Goa to be selfreliant and a developed state contributing substantially to nation development. We have immense potential and opportunity to be a model state in terms of education and research, agriculture and food processing, manufacturing, exports, arts and literature, tourism, forestry and many more. We will be conducting events to churn our thoughts in this direction and continue with our awareness programmes so that Goa awakes to new hope and pride. Our vision and aim is to be “the voice of global Goans”. How successful has Yi Goa been in providing a platform for

knowledge-sharing, nationally and locally? I feel every programme we conduct is a platform for knowledge-sharing. The national team and various chapters, including ours, help each other by sharing ideas, speakers and other content. Yi Nationals has also started the Yi Growth Network for members to connect for business development and Yi Angels to fund startups. Besides this, we have an ever helpful parent organisation CII – a source of ample opportunities to learn. Has Yi Goa had any collaborative projects with the government? We get a lot of support from leaders, government officials, municipalities and panchayats. Every time, they have welcomed us with an open heart. We are working with the Indian Medical

Association on spreading awareness on ‘Gift an Organ’. We work with municipalities and panchayats for ‘Swachh Bharat’ and road safety. We also invite leaders and government officials to our meetings to share their work and thoughts in their respective fields. How would you rate the current government on providing opportunities to young entrepreneurs? I would say that every minister and government official we have met so far deeply desires a developed and green Goa. They are doing everything they can to provide Goan youth with ample opportunities. Just like Yi, government wants more job creators than job seekers. Yi wishes to work with various departments to further their programmes

april 2018 | Business Goa industry Dossier | 31



Susegado Goan Craft Beer

Crafting the Perfect Brew

A pioneer in the craft beer revolution in Goa, Aditya Challa’s brand Susegado Goan Craft Beer has carved out a niche for itself in the Goan market

Aditya Challa... where it all happens.



new industry is brewing. Once merely a cottage industry, today the commercial brewing of beer is a growing global phenomenon. In Goa, however, where cracking open a cold one has become synonymous with having a good time, it’s quite surprising that the craft beer industry is still in its nascent stage. Aditya Challa is on a mission to change that, one batch at a time. A pioneer in the craft beer revolution in Goa, Aditya Challa is a qualified brewer with multi-disciplinary international experience. A computer engineer by training, he went on to pursue an MBA before finding his true calling: beer. The inspiration to venture into the beer industry hit when Aditya began researching possible entrepreneurial avenues and found a market in the brewing and retail of craft beer in the state. In Aditya’s words, “The craft beer industry seemed like the most appealing one to venture into. There was also a clear need for the same in the current Indian market. There weren’t any microbreweries in India at that point and coming from a family with a long history in the agro-business, the decision to venture into brewing and distilling only seemed fitting.” Driven by passion, Aditya went back

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“In 2014, we decided to quit while we were ahead and exit the Singapore market. The costs were getting too high, and there was no clear advantage to brewing in Singapore. We had a good five-year run; it was time to wrap up. We chucked the entire brewery into three containers and moved it to Goa in 2016”

aditya challa

Founder, Susegado Beer

to University to study the art of brewing and distillery in Edinburgh, Scotland. Immediately after, in 2011, he set up Jungle Beer in Singapore. Exploring his own passion and creativity in the industry, Aditya pushed the boundaries when it came to crafting beer. Introducing a range of innovative beers tweaked for the Asian palate, Aditya Challa’s Jungle Beer was a brand name to reckon with. But just when his Singapore-brewed beers started to snag bigger awards at Beerfest Asia, the Kurnool-born entrepreneur let loose a major reshuffle under the public radar, shutting his S$1.5 million brewing plant. “Ultimately, in 2014 we decided to quit while we were ahead and exit the Singapore market. The costs were getting too high, and there was no clear advantage to brewing in Singapore. We

had a good five-year run; it was time to wrap up.” “So, we chucked the entire brewery into three containers and moved it to Goa in 2016. And I moved here almost immediately. There were many issues that needed to be sorted before we could set up in Goa – these included finding a suitable location, sorting out electricity issues, getting the various approvals from the state excise government. Finally, we got our license in May 2017, and we’ve been operational since then.” Located in Baga and sharing the premises with the Mexican restaurant Habanero, Susegado Goan Craft Beer is the first microbrewery to be set up in Goa. Along with his three partners Arjun Gadre, Sameer Gurjer, and Nikhil Gurjer, Aditya Challa has taken Goa’s beer industry by storm. Susegado offers revolutionary and unique flavours tailored to suit the Goan palate. Well received by both locals as well as tourists, the microbrewery has indeed made its mark here. In Goa, beer has a reputation for being a social beverage – the kind of drink that makes for conversation and relaxed afternoons. Derived from Portuguese, the term “susegado”, conveys a feeling of being peaceful, satisfied, and content with life. Staying faithful to its tagline, “the unhurried pursuit of happiness”, Susegado Goan Craft Beer redefines laidback sophistication and embodies the essence of the true Goan vibe. As Aditya states, “The term susegado stands for the Goan way of life – the relaxed enjoyment of life. That’s the message we wanted to express with our beer, with our brand. That is the beer we are making. It’s not the kind of beer that you just chug down mindlessly or one that merely acts as a side drink for a meal. Rather it is the kind of beer that you can take your time with and savour.” Feted for its niche appeal, craft beer stands apart from mainstream lagers that you chug. According to Aditya, “With craft beer, the idea is to brew a variety of beers and not shy away from adding character. The mainstream beer industry, on the other hand, tends to avoid adding flavour or hops, as it alienates those consumers with differing tastes.” Ultimately, craft beer is about creating something that is personal to the brewer rather than meeting a market need or


ticking off a demographic. With a dedication to quality and desire to pioneer the best of flavours, Susegado brews three refreshing delectable variants of beer – two year-round ales, and a seasonal ale. Susegado Dorado is an IPA (India Pale Ale, which is a hoppy beer style within the broader category of pale ale), created by fusing the traditional British style with the American style, giving it a slightly different new-age character. The Susegado Trigo is a Mango Wheat Beer. Available year-round, this ale is infused with hints of mango to bring out the wheat character and balance it off. The third variant, the Susegado Seasonal, offers a rotating selection of beer. From a Vanilla Porter to a Dartmouth Lager, Susegado Seasonal offers the Goan consumer a new and unique world style every month. Susegado Goan Craft Beer primarily strives to capture the quintessential Goan sentiment. “Our beer is brewed specifically to suit the Goan palette. We, therefore, value the feedback we get from the local consumer and that defines how we tweak our beer. As a beverage brand, I feel that keeping the consumers involved

is the only way to create a quality product.” With almost a year in operation, Susegado is currently being served in 15 locations across Goa. “We are a premium beer. So, at the fundamental level, our focus is on providing value. Continually striving to deliver on quality is the core belief of our company, around which everything else is built.” With the quality of their beer being the central priority, Susegado goes the extra mile in ensuring and monitoring this quality across the locations it’s served at. Looking ahead, Aditya states, “Goa is a very new market. We are, currently, the only microbrewery in the state. I am sure the future is looking at a number of microbreweries springing up. In the meantime, we want to continue to focus on the Goan market and on our core value of serving quality.” Standing as a true testament of the creativity and soul poured into their product, while tantalising the taste buds of craft ale aficionados across the state, Susegado has consolidated its position as a trailblazer in the beer industry of Goa, and one that is sure to inspire growth in Goa’s brewing landscape in the near future

april 2018 | Business Goa industry Dossier | 33




A business that hasn’t missed the bus

Over the years, Aerocoach has undergone technological transitions to fulfill the increasing market expectations Greaves, Rosenberger, Diebold, Andrew Telecommunication, Bosch, Lift Control, Infiniti Modules, Nanu Enterprises, Saishiv Boards, and others. Aerocoach also has a special ancillary unit in Honda which supplies components and assemblies to ACGL. Apart from that, it also provides ancillary assistance to Tata Marcopolo Motors Ltd and Tata Motors in Dharwad. In the bus segment, Aerocoach builds buses for KTCL, route operators, tourist operators, corporates as well as government departments which range from AC and non AC luxury coaches, semi-luxury buses, and route buses to ambulances, delivery vans and special purpose vehicles.

Edward Monteiro in front of a bus commissioned by Kadamba Transport Corporation Limited.



mall manufacturers have been struggling to compete with largesized industries. The unstoppable penetration by such industrial giants in the domestic market has forced many small players to give up. Local automotive bodybuilder Aerocoach, however, has stood the test of time against all odds. Aerocoach is an established name for most Goans, with its logo on countless buses and other vehicles which ply on local as well as interstate routes. The company commenced operations in 1993 at Bethora Industrial Estate. It currently operates as a partnership firm between Edward Monteiro and Satish Shinde. It all began when Edward Monteiro started working at Automobile Corporation of Goa Limited (ACGL) soon after completing his Diploma in Mechanical Engineering. After serving ACGL for more than nine years, he was fully acquainted with the industry to venture into entrepreneurship. “At ACGL, I had got sufficient experience and got familiarised with the automobile business. I believed in my

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strengths and it was something I could pursue. I always wanted to own a business. Fully aware that starting a business wasn’t simple, my partner and I took the plunge with minimum investment by way of the meagre savings that we had. Being first generation entrepreneurs, the initial few years were challenging but it got easier,” says Monteiro. In Goa, Aerocoach is also a trusted name in automotive bodybuilding amongst business owners. Clients range from government bodies to private operators to mega corporates. Aerocoach has built numerous buses as well as special purpose vehicles for Kadamba Transport Corporation Ltd (KTCL), Goa Medical College, Sesa Goa, Taj Hotels, Indian Airlines, Salgaocars, Dempos, Chowgules, Inspectorate of Factories and Boilers, Goa State Pollution Control Board, Goa Tourism, Nestle, etc; besides various private operators. Aerocoach’s second unit of Powder Coating and Painting started later and provides services to clients in diverse businesses, which includes multinationals like Siemens, Crompton

Transition Aerocoach began as a small facility in Bethora Industrial Estate. However, as the company grew, they moved to larger premises within the area. They now have the capacity to build 70-80 units a year. The earlier unit has been converted into a special facility for powder coating and painting. Both the units operate in close proximity. Aerocoach has undergone technological and design transitions over the years to fulfill increasing market expectations. “Our clients want aesthetically good looking buses, which must be light yet strong so that it is fuel efficient, has better tyre mileage and is equipped with all safety measures. Keeping that in mind, we have upgraded our designs as well as material selection,” says Monteiro. “We rely heavily on stainless steel and aluminium composite sheets for the interiors. When it comes to exteriors, we use aluminium as it can help withstand the climatic conditions prevailing in Goa, by preventing rusting. In addition to this, we use galvanised iron tubes and sections for structures of the body coupled with high quality polyurethane paints. These buses then look better and last longer,” Monteiro says as he explains the basic transition in the bus-building process. Commenting on the prevalent bus business in the state, Monteiro says, “Currently, business is not the best in Goa and the implementation of GST of 28% vis-à-vis 5% VAT charged earlier has added to our woes. We don’t see many new local players emerging in the future.


We are able to sustain and grow only because of our core competency and long standing in the market.” Monteiro foresees a bright future in the special purpose vehicle market. “Despite buses being the backbone of our business, we want to focus more on special purpose vehicles as bus-building is becoming very competitive with the presence of big players like Tata, Leyland, Eicher and Swaraj Mazda having their own range of buses which are available to the customer off the shelf. Also, special purpose vehicles give us the opportunity to innovate and offer a customised solution to clients, which is more challenging and satisfying.” Aerocoach believes its USP is in its service which comes into play after the sale of the vehicle. A lasting bond with customers helps them retain clients and leads to

referrals. “Anybody can build a bus, but the service that you give after the sale is what a customer looks for. When you customise so many buses, after sale service becomes even more important as customers depend on you.” Expanding in a big way is not on the agenda right now in the body building segment since their present capacity can cater to the demand, but the powder coating unit has been a windfall. Expansion can be expected to meet the increasing demand. Work Philosophy Being an ISO 9001: 2015 certified company, Aerocoach’s philosophy is to achieve “customer delight” by providing products and services that exceed customer requirements in terms of quality, delivery and cost. The company wants to align itself with the pace of

how technology is moving forward. Professionalism is at the core of company ethics here and team management is its style of working. The firm employs more than 200 employees, mostly residing in the local area and believes in the strength of their commitment, which is flexible enough to get the job done. “The most important aspect of our business is safety which includes safe environment of working as well as safety in our products. We have been successful in inculcating the habit of safety in all our employees,” reveals Monteiro. Future Aerocoach has well defined goals for the future. One among them is inevitable – building buses on electric platforms. Monteiro shares his concerns for the environment and the way

ahead, “Zero emissions is the future. Conventional engines releasing toxic emissions have to stop someday so that we can save the environment for our future generations. We have to slowly move from conventional energy to electric. Electric is the future but these vehicles have yet to penetrate the Indian market. The biggest concern is the initial cost and its mileage over a single charge. These issues have to be addressed fast.” Goa is a small state and most of the population is primarily dependent on buses as a mode of transport. The current pace of expansion of road infrastructure has further fuelled the demand for buses. Which is why, after spending more than 25 years in the business, Goa continues to remain a focused market for Aerocoach

april 2018 | Business Goa industry Dossier | 35



Keeping it local

Students at AIFCCS are given hands-on training in state of the art facilities to cater to the growing needs of the hotel industry

In the AIFCCS kitchen



aking students job-ready is a difficult task for many educational institutions, however, the Agnel Institute of Food Crafts and Culinary Sciences (AIFCCS) has been taking it as a challenge and providing youth with opportunities. AIFCCS began operations in 2004 in the Agnel Technical Education Complex in Verna. The institution is recognised by Government of Goa and affiliated to the Board of Technical Education, Goa. It is also approved by the All India Council of Technical Education, New Delhi. Principal Alphonso Pereira explains how, in the past, students had to give up on their dreams to pursue a career in the hotel industry as there were no well recognised institutions in the state, “Goa always needed another premier institution as most of the local students did not get admission in the Institute of Hotel Management in Porvorim (IHM) due to the all India entrance exam. As a result, students had to go to other parts of India like Bengaluru, Bhopal, Hyderabad, Chennai, etc. Some parents weren’t willing to send their children to other states.”

He added, “Even the state government sensed the need for more hotel management institutions, therefore they started working along those lines. They gave us infrastructural grants up to Rs 1.17 crore to set up the institution. This ‘experiment’ was successful, as we now have 99% students from Goa itself.” AIFCCS runs long term as well as short term courses, covering a wide area in the same industry. The most popular course is the three-year diploma in Hotel Management and Catering Technology. It is mandatory for course holders to also take up a parallel BSc degree. Therefore, the students obtain a diploma at the institution while simultaneously pursuing a BSc degree through distance education. The courses are designed in a practical manner. In the first year, students are taught the basics of cuisine. In the following year, the focus is on Indian regional cuisines like Bengali, Kerala, Gujarati, including Goan. In the third year, they are introduced to international cuisines like Italian, Thai, Mexican, Chinese, and Greek. AIFCCS also strives to groom students for the industry through short,

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three-month courses. These include cookery, bakery and patisserie, food and beverage services, housekeeping and bartending. The college has invested a lot in the infrastructure to ensure practical learning. “I always tell my staff – theory is not the important part of our teaching here, but grooming, discipline and practical experience. With these three important elements, a student can build a career,” comments Pereira. “I still remember when we had started in 2004, we had only four students who were from different parts of the country. The following year we had 60 students, which was full capacity. However, our total intake is 63. The additional three students, whose family income is below a specified limit, get a tuition fee waiver,” Pereira informs. Admission to the institution is through a centralised process; candidates have to apply to the Board of Technical Education, Porvorim and are awarded admission based on merit and reservations. Prospects In terms of academic growth, very few students study further. In an industry

which promises immediate employment, a huge chunk of students join cruise liners. Others enter the growing hotel industry in the country and the state. Principal Pereira explains how students secure jobs before they graduate, “More than 12 big hotels participate in our campus placements. Some students get 3-5 job offers and can choose what’s best for them, which is a rare scenario in any other industry,” he told Business Goa. Some of the hotels/groups that frequent their campus placement programmes are Taj Group of Hotels, The Oberoi, Hyatt, Radisson, Ritz Carlton, Marriott, Hilton, ITC Hotels, etc while the restaurant and ancillary chains include Domino’s, McDonald’s, etc. Principal Pereira is now keen on building a cruise ship kitchen galley on the campus. “Currently a large number of Goans are enrolled at the Culinary Academy of India in Hyderabad. It is an institution where cruise companies send their trainees before being taken on ship. We want to create similar infrastructure in Goa so Goan students can train here.” Principal Pereira also

recognises the need for short term vocational courses. He believes that his institution has the much needed capacity building mechanisms for such courses. “The trend of long term courses is slowly dying down because there is an increasing demand for manpower in the industry,” Periera notes. He also informed of his plan to introduce more womencentric courses. An interesting bit of information about the Agnel Technical Education institutions is that all of them have pledged their profits to a philanthropic purpose. Their educational complexes are based in Verna, Assagao, Pune, Vashi, Bandra, Noida, Greater Noida and Delhi. All profits go to a charitable foundation called Konseisanv Balgram in Verna, which looks after more than 180 orphans.

“The trend of long term courses is slowly dying down because there is an increasing demand for manpower in the industry. Our students should stop going out of Goa as there is immense potential here” alphonso pereira

Principal, AIFCCS

Expertise Principal Alphonso Pereira has been at the helm of affairs since inception. Stakeholders attribute the success of the institution to his disciplined and practical teaching. Students have been provided hands-on training to cater to the growing needs of the hotel industry. Pereira is an accomplished chef with decades of industry exposure. Having begun his

career at the Taj Group of Hotels, he served at their chain of hotels across the country. He later worked on the luxury liner Queen Elizabeth II. Before committing himself to academics by joining AIFCCS, he worked at Mandovi Hotel for a few years and had a brief stint at the Taj hotel chain in Goa. Periera shares his concern on the work culture in the hotel industry. “Our students

should stop going out of Goa as there is immense potential here, especially if one wants to start one’s own business. However, they get paid considerably lesser than industry standards. Also labour laws are flouted in the industry. The exploitation in the industry should stop. Sometimes, people are made to work for more than 12 hours a day. If they put the same amount of time and energy in entrepreneurship, the person will earn much more in Goa.” He continues, “Hoteliers believe that labour cost should be minimum, which is why there is unfair treatment of the workforce. I want to invite HR representatives and start a dialogue to discuss these issues so that there is more awareness amongst everyone. At the same time, I believe things are easing now, which is good for the industry”

april 2018 | Business Goa industry Dossier | 37



Satori Healthcare

Integrative route to healthcare Rahul Chandawarkar visits Satori Healthcare in Margao and comes away impressed


he quiet by lanes of Fatorda in Margao got a new neighbour a few months ago with the start of Satori Healthcare, a new healthcare centre in the plush, Asian Costa Pinnacle building near the Arlem circle. The centre is a wonderful place to visit as it is neat, clean and extremely peaceful. As one sits in the plush reception lobby, a pleasant Satori team member will serve you piping hot herbal tea. Sipping the hot beverage and listening to the soft strains of Sanskrit hymns in the background, one instantly begins to de-stress. As the founders of the company will tell you, Satori Healthcare is a trans disciplinary healthcare centre, which takes pride in taking the integrative route to healthcare, offering a number of medical and therapeutic disciplines under our roof. According to Team Satori, their USP lies in their ability to offer effective curative healthcare solutions in a noninvasive manner. The flagship centre in Fatorda offers a number of services ranging from curative

The reception at Satori Healthcare, Fatorda. (Inset) Karan Sajnani, founder

to preventive healthcare. They treat a spectrum of conditions ranging from chronic cases of pain, neurological conditions and neuro-developmental disorders to spinal issues, sports injuries, obesity, addiction, insomnia, mental health issues and a lot more. Their mental health wing is particularly strong, offering the cutting edge methods of practical psychology which is suitable for dealing with complex mental, psychiatric and psychological issues without the use of internal medication. At the other end of the spectrum, Satori offers a wide range of relaxation and de-stressing therapies, and even has a robust beauty programme called ‘Allure’, which works towards women’s health and beauty. As the young and affable, Karan Sajnani, founder, Satori Healthcare says, “Our company’s mission is to improve the quality of life of humanity and future generations to come.” According to Sajnani, his company envisions a future where healthcare is non-

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invasive and highly effective. “What enables us to offer this rare combination is a special integration of ancient Indian healthcare methods and Ayurveda known as BPM Therapy. BPM Therapy is a renaissance of heritage healthcare sciences and is appreciated across the industry for offering faster recovery and rehabilitation in a number of cases,” says Sajnani. This therapy has been licensed by Satori Healthcare for the entire state of Goa from Preventia Healthcare in Mumbai. Satori is a franchise operation. The newly formed healthcare company plans to spread its reach all over the state soon with subfranchises and partnerships across various industries. “We have already partnered with institutes such as Victor hospitals, Norbert’s Fitness and a few organisations in the hospitality industry. In the next few seasons, we are going to work towards developing serious healthcare tourism in the state of Goa,” informs Sajnani. Interestingly, the company

does not want to be a seasonal entity. They are keen to support the community in Goa and present estimates indicate that a majority of their current clientele are locals and people residing in Goa. The company’s therapeutic elements on offer at the flagship centre in Fatorda consist of BPM therapy, yoga therapy, ayurveda, sound therapy, movement therapy, physiotherapy and they have visiting consultants of a number of disciplines as well. “We maintain high quality – keeping the ISO standard, and NABH accreditation which is highly difficult to acquire. We will be the third NABH accredited wellness centre in the country after our license comes through,” informs Sajnani. The company is also hoping to tap into the many opportunities ranging from hosting healthcare and cultural education programmes, to overseas partnerships for medical tourism. Presently the centre offers day-care services, sixdays a week



VMSIIHE felicitates meritorious students

Deepti Salgaocar

V M Salgaocar Institute of International Hospitality Education (VMSIIHE) recently organised their first annual awards ceremony to felicitate the students for their outstanding performance in the past academic year. Thw event was graced by Vice Chancellor of Goa University Varun Sahni, Deepti and Dattaraj V Salgaocar, chairman and MD, VM Salgaocar Corporation Pvt Ltd, Prof Irfan Mirza, director, VMSIIHE, faculty members and students of the institute. During the

ceremony, 45 awards were handed out to deserving students by the Vice Chancellor. The Outstanding Student of the Year Award was awarded to Lionel Noronha. Riya Chandra, Sahil Essani and Lionel Noronha received the Excellent Academic Performance Awards for the First Year, Second Year and Third Year batches respectively. The Annual Award Ceremony at VMSIIHE began with the Director’s Report on the institute’s performance over the past academic years. Later, Prof Irfan Mirza highlighted the achievements of the institute and its students. This year, a group of students will get to travel to France, Holland, Portugal and Switzerland to learn more about hospitality. He further informed that 18 students will be going to Portugal on a paid internship, stay included

GIM students receive MBA

Deepak Parekh of HDFC gives away a prize at the GIM convocation ceremony

Celebrating 25 glorious years, the state’s premier B-school, Goa Institute of Management (GIM) has already began the year-long celebration by hosting its annual convocation ceremony for the PGDBM batch of 2017-18. The ceremony was held at its sprawling campus in Sanquelim, Goa. Deepak Parekh, chairman, HDFC Bank, delivered the convocation address to 298

students who received the coveted MBA diploma. Among these, 249 were full-time PGDM (Post Graduate Diploma in Management) students, 20 were from the PGDM-PT (Post Graduate Diploma in Management – Part Time) programme and 29 students were from the PGDM-HCM (Post Graduate Diploma in Healthcare Management) programme



Jayakanthan and Naveen Kumar win GIM WIZBIZ 2018 GIM WIZBIZ 2018, the flagship event of Goa Institute of Management (GIM), saw corporate teams step out of the boardroom and on to the stage to battle for the top spot at one of India’s popular corporate quizzes. Organised by MECCA – the Marketing Club of GIM, WIZBIZ held at the GIM campus in Sanquelim was a success. The event saw enthusiastic participation, challenging rounds and exciting prizes won by the participants and audience alike. Participants from corporates from across the country travelled to Goa to participate in the 17th edition of the quiz. The audience watched as quizzers clashed amongst each other to win the top spot and prizes worth over `2.5 lakh. Conducted by popular quizmaster Avinash Mudaliar, GIM WIZBIZ witnessed participation from leading

corporate houses like Deloitte, Pidilite, Pepsi, Adjacent Design, TCS, Prototype and Acron, among others. Only the top six teams made it to the finals. After intense rounds, Jayakanthan and B Naveen Kumar from TCS and Sai Mitra constructions respectively emerged winners. Rohan Khanna and YogeshPai from Deloitte and Chennai Silks came second while Saahil Sharma and Krishnamurthy from Cognizant Technology Solutions and ValuePitch respectively took the third spot honours. The winners took home prize money worth `80,000, `50,000, and `30,000 respectively. Members of the audience won prizes worth `1.6 lakh. GIM WIZBIZ was sponsored by ONGC, Goa Tourism, State Bank of India, Aguada Anchorage, Eva, Resort Rio and Sandalwood Resort

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Across: 1. Business being investigated in the PNB fraud case (5,4) 6. Magazine known for its richest list (7) 7. Armed forces of China, in short (3) 8. Company behind most computer processors (5) 11. University of California, Los Angeles – in brief (4) 13. Spaniard who conquered the Aztec empire (6) 14. Popular courier services company (3) 15. The pet beagle in the comic strip Peanuts (6) Down: 1. _____ 50 – Indian stock market index (5) 2. Popular data compression format (3) 3. Where Coke stores its secret formula – in a _____ (5) 4. Chinese smartphone maker with tagline ‘Never Settle’ (3,4) 5. Middle eastern country (6) 9. Popular brand of non-stick cookware (6) 10. What you do when you see a QR code - ____ it (4) 12. Book you will use to study maps (5) 14. Do it Yourself, abbreviated (3) ANSWERS TO CROSSWORD 99 Across 1. Book My Show 5. Union 7. Tram 8. Paper 9. Libor 11. Gaya 13.Vegan 14. Invest Down 1. Bratislava 2. Oprah 3. MOU 4. Shipping 6. Norway 8. Peroni 10. BOGO 12.ACT


Author Walter Mascarenhas MRP `100

Swimming Through Life: Management and Life skills from swimming


hortcomings, in addition to negative thoughts, tend to hinder an individual’s progress and often cause further problems. While you may be struggling to stay afloat, Swimming Through Life provides insight into management and life skills to paddle one’s way to the right track. This book offers lessons through analogies drawn from swimming. How author Walter Mascarenhas has complemented his work experience of over 25 years in m a n a g e m e n t with his share of experiences as a swimming coach makes for intriguing reading. One of t h e

Walter Mascarenhas

catchy lines that instantly grabs the readers’ attention and puts every situation henceforth into perspective is the dedication page that reads, “There are

two kinds of people in this world: those who know to swim and those who don’t. This book is dedicated to both kinds.” The chapter ‘Believe that you can’ draws from Walter’s coaching experience. Only students who believed they could swim would learn faster than the others. Another interesting subject covered is ‘Learn to trust’ – when learning to swim, it is important to trust the water because only when the student feels fearless in water s/he will be able to swim swiftly. A parallel can be drawn to businesses, where trust is pivotal because one cannot run a business if trust is absent. At the end of every chapter, the author poses questions that lead the reader to reflect over. Spaces are provided to pen down responses. Walter’s wise words of advice, compiled in the form of different chapters, serve as food for thought. The content is not only easily comprehensible, but also sends out a positive message to those in dire need of motivation

april 2018 | Business Goa industry Dossier | 41



Inspiring healthy living

Through her books and articles, Rohini Diniz has motivated Goans to Eat Sensibly and Live Healthy!

Rohini Diniz


By Serilda Coutinho

haring her pearls of wisdom on nutrition, consultant nutritionist Rohini Diniz swears by the dictum ‘Eat sensibly, live healthy’. Armed with 19 years of experience, Rohini not only has her own clinic but she is a trusted author on the subject of nutrition. However, it wasn’t the clinical aspect of nutrition, but the theory that caught Rohini’s interest. No wonder then that there is an archive of books and articles written by her on the subject. Her columns in publications have gone a long way in busting food myths, in addition to providing patients and readers the required motivation to embrace a healthy lifestyle by investing in healthy eating habits. Rohini says that it was her love for medicine that introduced her to the world of nutrition. To nurture this fascination, Rohini pursued her BSc in Home Science, specialising in Foods and Nutrition, at the Goa College of Home Science, Panaji. Thereafter, she moved to Mumbai and completed her P G Diploma in Dietetics and Applied Nutrition at the College of Home Science, Nirmala Niketan. Making the most of every opportunity that came 42 | Business Goa industry Dossier | april 2018

her way, Rohini was determined to give her best. The biggest hurdle Rohini faced at the beginning of her career was the lack of awareness about nutrition in Goa. When she returned to Goa in 1988 to practice, she discovered that very few people were aware of the need to follow a balanced, nutritious diet. “People did not take the importance of diet seriously, then. Apart from this, there were no full time jobs. Today, everybody is healthconscious,” Rohini divulges. Despite facing a number of obstacles, it was her thirst for knowledge in this field that landed Rohini her first job as a lecturer. Considering her passion for the subject, her father’s friend Jovito Lopes, then secretary of the Indian Red Cross, suggested that she join the humanitarian movement as honorary consultant dietician and nutrition education lecturer. Rohini paid heed to his advice and began giving nutrition education lectures, which then led to mini workshops for students and teachers. Lopes further suggested that she write a book on nutrition. Her determination to share her knowledge drove her to pen Eat Sensibly, Live Healthy. The book was initially written as a guidebook for Red Cross teachers to spread nutrition education covering topics such as basic concepts of nutrition, body-building foods, healthy eating for adults and meal management. Later, in 2011, Rohini associated with the Nestle Healthy Kids Global Program as facilitator. She conducted nutrition education sessions for adolescent girls and boys in different schools in the state.

It was during this time that she felt the need to write another book. This led to the publication of A Woman’s Guide to Sensible Eating. The book covers women’s nutritional requirements from adolescence till old age. It also includes a section on the importance of breastfeeding and chapters on healthy cooking practices, eating out, physical activity and their benefits, tips for fasting and how to cook healthy foods in your kitchen. Besides instilling healthy eating habits through her books, Rohini was also approached by a number of local dailies to write columns on a daily basis. Presently, she has a regular column ‘Nutri-talk’ in the Zest supplement of the Saturday edition of The Navhind Times and writes regularly for Viva Goa magazine. Since readers made her aware of the inspiration they derived from her articles, Rohini was spurred to write her third book – NutriTalk. The book comprises of 38 chapters, some of which are ‘fructose - a new dietary threat’, ‘local foods for better nutrition’ and ‘eating well during cancer treatments’. Speaking on Goans’ eating habits, Rohini says, “If we analyse the traditional Goan diet, it is nutritious. Our Goan meal consisted of rice, curry and fish. This is a meal high in nutrition value.” She also stressed on the different eating patterns observed among Catholics and Hindus. Sharing an observation, she says, “Traditionally, the Hindu population would eat more vegetables and pulses compared to Catholics who preferred a meat rich meal because of Portuguese influence on their cuisine.” Rohini attributes her success to the constant support of her family and teachers. Offering advice to aspiring nutritionists, Rohini says, “In our field, you do not need to possess good cooking skills; they can be acquired over time. What is necessary is to be passionate and constantly stay updated as the science of nutrition is changing every day.” With her undying urge to reach out to a larger community through her knowledge, Rohini now aims to write a book on nutrition in Marathi cross the language barrier



Service with social responsibility ‘Spreading smiles all around’ is a motto Dr Kirti Naik swears by and being a homeopathic doctor and secretary of Lions Club, Dabolim has given her ample opportunity to do just that Dr Kirti Naik

By Serilda Coutinho


ollowing her father’s footsteps to reach out to a larger community through various homeopathic treatments, Dr Kirti Naik made her father’s motto her dream and is successfully living it today. Kirti’s father, Dr Vishram Naik, was a homoeopathic physician practicing in Belgaum, Nipani and Kolhapur. Sharing her motivational experience that led her to take up homoeopathy as a career option she says, “As a child, I saw patients queuing up at my dad’s clinic, thanking and blessing him for curing them of their illnesses and, slowly, I was encouraged to follow his profession as my career path.” Kirti began her medical journey in her hometown of Belgaum after graduating in Bachelor of Homeopathic Medicine and Surgery (BHMS) from A M Shaikh Homoeopathic Medical College. She later gained hands-on experience practicing under her father for two years. However, Kirti’s journey as an independent homeopathic doctor actually began after her marriage in 1994 when she shifted base to Goa. It was then, aided by ophthalmologist Dr Seema Bandekar, that Dr Kirti got her own space to practice out of Rajtara clinic. From here, she began cementing her base in the profession. Owing to the response she received and the tremendous support from her patients, she established her own clinic at Vasco – Dr Kirti’s Homeocare. Dr Kirti treats her patients by first preparing a detailed case history. Thereafter, based on symptoms in 44 | Business Goa industry Dossier | april 2018

“I believe half of my patients’ health conditions can be attributed to tension and stress over what kind of serious disease s/he may be suffering. I give such patients additional time, so I counsel them and clearly explain the possible causes for their medical problem” addition to case analysis, appropriate medicine is prescribed. An important element of any treatment is getting the patient in the right frame of mind for the medication to work its magic. Dr Kirti’s expertise and people skills go a long way in relieving anxiety and nervousness experienced by most patients who already have preconceived notion of what they could be suffering from. “I believe half of my patients’ health conditions can be attributed to tension and stress over what kind of serious disease s/he may be suffering. I give such patients additional time so that I can counsel them and clearly explain the possible causes for their medical problem.” Kirti feels that the benefit as well as challenge of homeopathic treatment is that, unlike allopathic treatments, two individuals with the same symptoms and medical complaints may not be cured with the same homeopathic medicine. Another challenge is treating patients with a history of chronic ailments and seek medical help after having tried all other possible medical options. Speaking about her determination to tackle such challenges, Dr Kirti says, “I relish taking up such challenges and, fortunately, have many successful case studies of patients who had given up hope of being cured. One such case was of a patient with multiple renal stones in his kidney. Considering the severity of his ailment, he was advised to undergo an urgent surgery.” However, Dr Kirti informs that, after treating him for six months, the patient was cleared of all renal stones.

Dr Kirti has cured numerous patients of leucoderma, asthma, psoriasis and other skin complaints besides gall stone, blood clots in eyes, ovarian cysts, fibroids in breasts and uterus, various allergies, spondylitis, colitis, haemorrhoids, thyroid problems, fistula and warts. Dr Kirti’s desire to fulfill her social responsibility towards society, especially the needy, directed her to Lions Club International. She recalls, “My husband and I often visited local old age homes and orphanages on family anniversaries and birthdays to help the needy in our community. Observing this, a close friend, who was a senior Lion, suggested we join the largest service organisation in the world. She joined Lions Club International in 2010 and is presently secretary of the Lions Club of Dabolim. As part of her duties at Lions Club, Dr Kirti treats underprivileged patients for free. She is also a member of the medical committee of the club and conducts medical camps, along with others on the committee. Dr Kirti manages a perfect balance between work and family life by managing her time strictly, following a day-wise calendar of activities to be done at home and at clinic while also leaving enough time for social work activities and hobbies too. One of these hobbies, for which she has received praise and appreciation from friends and neighbours, is stitching. Dr Kirti designs and stitches her own sari blouses. Apart from this, she has received a number of awards for her on-stage acting performances. She is also a great dancer and singer. Returning to the subject of homeopathy, Dr Kirti Naik expressed concern over the declining number of students opting for the homoeopathic branch of medicine and also those who take up homoeopathy as a last resort. She feels that this trend takes away the passion needed for this profession. She asserts that homoeopathic consultancy requires a lot of time and patience because treatment takes time. Aware of the number of shortcomings faced in this field, Dr Kirti affirms that people have slowly come to understand the benefits of homoeopathy. She proudly says, “As more and more people are now moving towards this treatment, there is phenomenal scope for more entrants to make up for the shortage of sincere homoeopaths”


TEDxPanaji 2018: Against the Tide April 8 started on a thundering note as Goa witnessed pre monsoon showers. However, it also ended on the same at the second edition of TEDxPanaji, which was held at the Entertainment Society of Goa (ESG) in Panaji. This event brought out extraordinary achievements of ordinary people right from a student, sailor, social entrepreneur to a paediatrician. This year, the theme of TEDxPanaji was ‘Against the Tide’ – living up to the theme, it celebrated ideas that challenge popular beliefs and notions. All the speakers spoke from their hearts and inspired the audience to take the unbeaten path in order to make a difference to the community they live in. The event started with a performance by Sai Damodar Group from Margao. This bunch of youngsters from the age group of 14-30 years are passionate and dedicated musicians who are reviving the traditional, devotional

Some of the speakers at TEDxPanaji

and folk music of Goa. IITian Manish Jain, who heads Creative Learning Initiative (CLI) at IIT Gandhinagar, stressed on the importance of making school classrooms more interactive and inspiring children to make things. Raunak Hede, who is a 10th grade student, spoke about coding and emphasised that coding should be introduced to children in school learning. India’s first circumnavigator of the globe, Captain Dilip Donde spoke about his experience of sailing solo

around the globe in 157 days. Behavioural pediatrician Nandita De Souza spoke about an inclusive society, starting from our schools. Founder of Street Providence NGO, Donald Fernandes spoke about various banks which he has started based on humanity and kindness. Naturopath Darryl De Souza gave everyone food for thought by speaking about nutrition and using our five senses while choosing food. Architect Abhijit Sadhale spoke about reviving traditional building

practices and his passion – the living traditions of Bharat. During the event, there was a performance by mime artiste Drupad Gaonkar, who recently made a world record by practicing mime for 50 hours. Several speakers like Manish Jain, Raunak Hede, Dr Nandita de Souza, Capt Donde and others received a standing ovation. TEDxPanaji was not just about talks, but also interactions. So there was an experience zone that showcased ideas from startups, businesses, not for profit ventures, etc

Business Goa powers SEQC Business Quiz Noted quiz master, Rajiv D’Silva hosted Sunday Evening Quiz Club’s annual business quiz. A former Tata Crucible national champion, D’Silva is also known as the quizmaster for the nation-wide Saevus Eco Acheivers Quiz; and The Navhind Times Quiz held in the state. D’Silva kept the audience gripped with an intense quiz fashioned on various board games – albeit, focussed with business only content. Some of the rounds were created on games like Pictionary, where participants had to guess company founders based on the drawing skills of their team mates. A 52-card rack was used as a dashboard for the finale; while a crossword based

Aniruddha Sen Gupta, Julian Fernandes and Srijit Kumar with K Ashwini and Rajiv D’Silva

written round brought top-6 teams up on stage for a hard fought final round. “Business quizzing has been a personal passion for me. And I enjoyed putting this quiz together on a rather unusual card-game format. Nice to see that the contestants enjoyed and quickly got on

46 | Business Goa industry Dossier | april 2018

board with the concept,” said D’Silva Aniruddha Sen Gupta, Julian Fernandes and Srijit Kumar won the first prize by scoring 17 points. Teams comprising Abhijeet Virginkar, Nitish Wagle, Vidyadhar Gadgil; and Akash Kulkarni, Harsh

Hegde, Sahil Ramchandani with 16 points shared the second position. Goa’s only business magazine, Business Goa powered the event with cash prizes for the winning teams. Panjim Convention Centre was the venue partner for the event that saw some of the best quizzing minds vie for top honours. Goa’s premier quizzing outfit, Sunday Evening Quiz Club is an informal, selffunded organisation that is in its tenth year since it was formed in June 2008. SEQC meets on the first Sunday of the month at International Centre, Goa; and on the last Sunday of every month at the Health Centre, Opp Hospicio at Margao. Entry to all events is open to public and free of charge


Goa chapter of EO to be launched this May

Entrepreneurs’ Organization (EO), a global peer-to-peer network of more than 12,000 influential business owners will launch its Goa Chapter on 4th May


he worlds’ largest peerto-peer network of entrepreneurs announced their arrival to Goa with the unveiling of the EO Goa Chapter to be held on 4th May 2018. The theme for the organisation will be ‘GOAL2020’. Entrepreneurs’ Organization (EO) is a global, peer-to-peer network of more than 12,000 influential business owners with 170 chapters in 58 countries. Founded in 1987, EO is the catalyst that enables leading entrepreneurs to learn and grow, leading to greater success in business and beyond. The latest entrant in the South Asia region, EO Goa will be the 21st Chapter of the South Asia region. EO Goa brings to the network a formidable array of entrepreneurs from across sectors: pharma, manufacturing, F&B, IT, automobiles, education & training, hospitality, wellness, event management and real estate. The Chapter is charting a strategic growth plan for the next five years with the aim of bringing more entrepreneurs into the fold. Speaking at the pre-launch meet, Oscar Pereira (Strategic Alliance Chair) said that the organisation was a gateway to connect with 12,000 influential entrepreneurs and high-achievers across the globe. Wellness entrepreneur and Secretary of EO Goa,

L to R: Sumeet Bhobe, Asheen Laljee, Oscar Pereira and Arpit Agarwal at the pre-launch meet of EO Goa

Sumeet Bhobe said, “The idea of EO is to learn and sharpen your business skill-sets with peer engagement. This is not just another organisation where you network to pitch your business.” Arpit Agarwal (MarCom Chair) of EO Goa said, “EO is an international community exclusive for entrepreneurs that enables its members to learn and grow from each other, leading to greater business success and an enriched personal life. I am very happy to share that some of the most influential business leaders of Goa have signed up to be part of this learning community and more members are joining shortly. I strongly urge Goan entrepreneurs to take advantage of the opportunities EO provides, both regional and global.” Asheen Laljee (Learning Chair) of EO Goa spoke about the various learning opportunities that the organisation could provide its members. Other members who

“EO is known the world over for creating a strong peer-topeer connect. It is super to see the Goa chapter being formed” Aakash Khaunte

Director, Alcon Anil Counto Enterprise

48 | Business Goa industry Dossier | april 2018

shared their EO experience were Aakash Khaunte of the Alcon Anil Counto Enterprise. He said, “EO is known the world over to create a strong peer-to-peer connect. It is super to see the Goa chapter being formed, and I am happy to be part of it.” Gaurang Suctancar, Managing Director of Risara Properties said, “Many times, you are faced with certain business issues for the first time. It helps discussing these issues and soliciting solutions from a peer group which is similarly placed as you are. I think, this platform is a solutions provider.” Riddhima Singh Bilochpura, who is a resort owner, said that the idea of EO is well established the world over. “I know many friends in metros who are members of EO and feel that it is a great organisation to be part of,” she added. Ashwin Khalap has been nominated Chapter President of EO Goa. Venkat Mupanna is Finance Chair and Rajesh

Dempo is Treasurer of EO Goa. Since 1987, EO has been transforming the lives of entrepreneurs who transform the world. As the global thought leader on entrepreneurship, EO plays an integral role in business, industry and the lives of leading entrepreneurs everywhere. EO undertakes several initiatives across its chapters to foster learning, development and inclusive growth within the entrepreneur community. It has brought together the brightest minds across sectors and sparks intelligent discourse to drive the spirit of success, integrity and continued learning among its members. With once-ina-lifetime experiences and opportunities to engage with industry experts and mentors, EO brings its members closer to success. The launch to be held at Grand Hyatt Goa will attract former Minister of State Milind Deora; and Micromax founder, Rahul Sharma

“It helps to discuss business issues and solicit solutions from a peer group which is similarly placed as you are” Gaurang Suctancar

Managing Director, Risara Properties

“I know many friends in metros who are members of EO and feel that it is a great organisation to be part of” Ridhima Singh Bilochpura Director, Estrela Hotels



Red Fox hotel launched

Carnation Hotels, the wholly owned subsidiary and management arm of Lemon Tree Hotels Limited, has signed an operating agreement for the group’s first Red Fox hotel in Morjim with Unicorn Real Estate. Located within close proximity of Morjim beach, this hotel will occupy another strategic location of North Goa. The Red Fox Hotel will have an infrastructure of 111 rooms and promises to cater to

leisure travellers looking for a pocket-friendly experience. Lemon Tree currently operates three brands – Lemon Tree Premier (upper midscale), Lemon Tree Hotels (midscale), and Red Fox by Lemon Tree Hotels (economy). The group already has two hotels in Candolim – Lemon Tree Amarante Beach Resort, a 65-room midscale resort, and Lemon Tree Hotel, a 34-room hotel. The Red Fox hotel will be refurbished and renovated as per the Lemon Tree brand standards in the next few months and is expected to open its doors to guests by October 2018

Industry must invest now: CII President “CII expects India’s GDP to grow at 7.37.7% during 201819. This is based on strengthening demand in the rural economy, including agriculture and non-farm activities, as well as a better global growth climate”Rakesh Bharti Mittal

Rakesh Bharti Mittal, president of the Confederation of Indian Industry (CII) shared his views on taking charge of this position. Mittal started off with complimenting the government on its wideranging reforms and said that industry should now strategise for investments. He further added that India’s economic environment has begun to improve due to introduction of major reforms such as GST, insolvency and bankruptcy code, fixed term employment and so on. He suggested that industry respond positively and undertake investments to sustain recovery. The new CII President also said that CII has evolved a strong agenda for industry under the theme ‘India RISE: Responsible. Inclusive. Sustainable. Entrepreneurial.’

This theme dovetails with the government’s priorities as per the already completed reforms. New initiatives under each of these sub-themes were outlined. Noting CII’s projections for growth in the coming year, Mittal added, “CII expects India’s GDP to grow at 7.3-7.7% during 2018-19. This is based on strengthening demand in the rural economy, including agriculture and non-farm activities, as well as a better global growth climate. There are some macro challenges like rising oil prices, but that would be more than compensated by improving industrial performance.” Mittal has also welcomed the policy to extend fixed term employment to all sectors, which CII had recommended. He stressed

50 | Business Goa industry Dossier | april 2018

Nitin Kunkolienker felicitated

Nitin Kunkolienker and members of GCCI at the felicitation function

Nitin Kunkolienker, past president of Goa Chamber of Commerce and Industry, was felicitated on the occasion of his 50th birthday at a function organised by his friends and admirers at the Chamber’s Convention Hall. Sandip Bhandare – GCCI President, Cesar Menezes and Manguirish Pai Raiker – both past presidents of GCCI, Dr. Pradeep Salgaonkar, Chairman of Goa Management Association, Blaise Costabir and Parvish Andani Kamat spoke on the occasion about the various contributions made by Nitin in the field of commerce, education, IT, etc through

various leadership roles he played in various industry and other organisations starting with VIA, then his three terms as the youngest and longest serving president of Goa Chamber, moving on to become vice president of Vidya Vikas Mandal and then going to the national level as president of MAIT and now CII National Council. Replying to the felicitations, Nitin exhorted Goa Chamber and other industry associations to prepare Goan trade and industry for tackling the fast paced changes that are happening in the global business world

that in conjunction with this, industry needs to work on retraining and skilling for boosting formal sector employment and should desist from shifting permanent workers to this contract system. CII is also taking up new competitiveness services to assist industry to adopt digital transformation and align with Industry 4.0 technologies. The Digital Transformation Center of Excellence in partnership with Tata Communications will promote Digital India. CII’s Future Business Group is a new initiative to handhold promising enterprises to achieve global scale, said the CII President. Another initiative mentioned by Mittal was launch of ‘export certifications’ which will help enterprises to align with the demands and quality standards of global markets

Fitbit now available in Goa

The much awaited Fitbit range of fitness and app trackers have finally arrived in Goa. They are available for sale exclusively at the Helios Watch Store in Panjim. You can also get your hands on the seven different Fitbits that come with a wide range of colours to choose from. If you are a fitness freak or a style icon, there’s something for you


Sterlite Power wins Goa project Goa Carbon net profit surges 143%

Pratik Agarwal

Sterlite Power has successfully acquired the Goa-Tamnar Transmission Project Limited. The project will deliver an incremental 400kV feed to Goa and scale up the transmission network for power evacuation from generation projects pooled at

Raigarh (Chattisgarh). With fifteen power transmission projects, including three in Brazil, Sterlite Power is poised to significantly increase its current market share of 30% of the PPP market. Commenting on winning the project, the Group CEO of Sterlite Power, Pratik Agarwal said, “We are excited to win this prestigious project, which increases our footprint of inter-state transmission projects to 21 states. We are committed to delivering this project ahead of schedule and improve the quality of power supply across the two states

The Board of Directors of Goa Carbon Ltd (GCL) approved the unaudited results for the fourth Shrinivas Dempo quarter ended March 31, 2018 on April 11, 2018. GCL is a Dempo group company and the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country. Some of the highlights of its fourth quarter results were increased net profits by 143% at `11.83 cr v/s `4.87 cr for the corresponding period.There has been an

increase in revenue that has gone up to `162.37 cr in Q4 FY18 compared to `91.73 cr in Q4FY17, and an increase in the total comprehensive income to `11.70 cr in Q4FY18 v/s `4.92 cr in Q4FY17. These results indicate a visible jump in the annual profit to `53.84cr from `9.49cr in the corresponding year. The board has also announced 100% dividend at `10 per share. Shrinivas V Dempo, Chairman, Goa Carbon Limited has given the credit of these surged profits to the growing demand for aluminum and steel in the country

BNI Goa & Pareto Club host ‘Scale Up & Zoom Off’ seminar

Mahesh Pai, Rajkumar Kamat, Atreya Sawant, Ajay Thakur, V M Prabhudessai and Manoj Patil at the ‘Scale Up & Zoom Off’ seminar

BNI Goa and the Pareto Club recently hosted a seminar called ‘Scale Up & Zoom Off ’ at Hotel Mandovi. At the event, financial advisor Mahesh Pai spoke on ‘Grow your business while reducing work time’. Mahesh Pai underlined the daily business challenges faced by small and medium business owners like staff management, service, complaints, financial management, business competition, mind

management, and so on. He also provided necessary solutions to overcome different issues by way of creating good systems in the office, delegating jobs, regular staff trainings, being open to new ideas and consulting a business coach to guide and monitor business activities. Pai highlighted the fact that every businessman comes across hurdles at some point or the other – whether it’s personal or professional in the form of customer

complaints, loss of a big business order, government regulations, etc. These situations can be handled in two ways – by responding with fear or courage. Though faced with this choice, most people react with fear and this curbs the potential to resolve crises. When handled with courage, your potential multiplies. Mahesh Pai revealed that courageous decisions need to be backed by “right knowledge”. This knowledge can be acquired

through different training modules and through personal business coaches. Pai brought to the fore the fact every human is born with nothing and only a few make an effort to turn that into everything. He stated that only 5% of people give their best while the rest waste their potential. He emphasised and concluded that only desire pushes people to work towards their greatest achievements in life

Advertise with the Voice of Business in Goa Goa’s only business magazine will shortly enter the tenth year of its publishing journey. Over the years, we have featured the best and brightest of business in Goa. And, along with a dedicated and growing list of readers and subscribers, showcased the best brands in Goa. Join the brand-wagon. Advertise in Business Goa Call Annalise Gouveia on 2437822 or Email: | 409, Citicentre, EDC Patto Plaza, Panaji Goa 403001 |

april 2018 | Business Goa industry Dossier | 51

people tree / kishore m shah

Time to innovate! To address the industrial slowdown and challenges caused by our educational system, a ‘Mass Entrepreneurship and Innovation’ movement is imperative


oday, we have a displaced mining community while also witnessing a slowdown of industrial growth. Further exacerbating a bad situation is our complex educational system. All India entrance examinations like IITJEE, NEET, AIIMS, BITSAT, etc are accessible only to a handful percentile of the Goan youth and one has to be at the top of the national merit list; if not, one would then need to have strong affiliations, networks (muscle and money) to sustain in private educational institutions of repute so that the dream of bagging a decent, reliable, sustainable job in an MNC is achieved. The same is needed to fulfill the other dream of migrating for further studies and settling abroad. However, these are all assumptions as the scenario five years from now will be much different from what it is today. But, one thing is for sure – there will be negative growth in traditional jobs. Industries are also losing their elasticity to absorb manpower owing to their own cannibalising projects like automation, robotics, AI efficiency, improvements like TPM, PCMM, etc, which are making humans redundant at a faster rate. The daunting challenge is to provide an economic space for the huge percentile of Goan youth, who are equally but differently talented, who cannot make it to the merit or money-driven elite institutions. Such a vast pool of youth is unfortunately tagged “average or below average”, owing to the current educational system. However, India is not the only country troubled with such issues. Our neighbour China, from whom we have borrowed a lot of tangible items, seems to have managed to turn the huge manpower potential into an asset by simply creating a movement called ‘Mass Entrepreneurship and Innovation’. China saw an upsurge in mass entrepreneurship and innovation in 2015; newly registered enterprises reached 11,600 a day, implying that, every minute, eight new enterprises emerged. The epicentre of mass entrepreneurship and innovation was to promote income 52 | Business Goa industry Dossier | april 2018

distribution reform and social equity, providing young people with more opportunities. In 2015, the State Council released a series of policies on mass entrepreneurship and innovation, with local governments releasing over 2,000 support policies. To encourage undergraduate students to start their own businesses, the State Council issued a guideline for a more flexible education system. Migrant workers were also encouraged to return to their hometowns to start businesses. Significant funds were earmarked for the development of medium and smallsized enterprises. Since 2013, the State Council has cancelled and delegated 537 items for administrative approval – accomplishing the goal that their government promised two years ahead of schedule. In the first three quarters of 2015, the number of newly increased market entities reached 10,655 million; newly increased registered capital exceeded 20 trillion yuan; the number of applications for patents rose to 709,000, from 583,000 the same time last year. China’s innovation-driven development corresponds to the world’s new round of reform in technology and industry, which provides opportunities to China. Much of the work done by their government involves employment, entrepreneurship and innovation. In addition, local governments and ministries have been adjusting policies to give more importance to market rules. The weaknesses in current policies are mainly reflected in finance, talent, and government performance. Banks should make greater efforts in mass entrepreneurship and innovation, but not become the main player in the primary stage. Instead, they should fully leverage the role of capital market,

innovation in financial market and private capital in supporting financing for entrepreneurship and innovation so that the capital chain can match seamlessly with the industrial chain and that entrepreneurs and innovators can get financial support in various developmental stages. We should provide adequate room for scientists and technicians, support more scientific talent to get on the road of entrepreneurship and innovation to make them the leading power of mass entrepreneurship and innovation. Institutions like CDAC, ICAR, NCL, IISc, IISER, IUCAA, etc have to be reoriented towards creating niche for innovationbased mass entrepreneurship. We should steadfastly construct an ecological system for innovation. Entrepreneurship and innovation requires a habitat with optimal soil, air and sunshine. Something may be intangible, but must be available in the system. For instance, to begin with, we quickly need numerous platforms: The Demand Platform Like the market mechanism, competition, information and economic relations are the most important components in this habitat and ecological system. It can be easily done by simply tapping the CSR system. It is not enough to only pressurise existing industries to absorb Goan youth, but additional pressure should be put on industries to commit to providing sustainable business opportunities to Goan startups by pledging certain percentage of their procurement / outsourcing from the startups, along with a handholding phase for each startup. A mandate to publish the requirement (demand) can be digitally released regularly, similar to a gazette allowing registered startups to bid for the business. The Supply Platform Entrepreneurship and innovation work in opposite directions with market mechanism and will meet half way. Only by trusting and relying on the market, diversifying economic components and market entities and building a more compatible social atmosphere can mass entrepreneurship and innovation find soil to grow. It can be done by:


1) Adding a new wing to the existing Goa-IDC called GOA – (Virtual) IDC. The formation of Goa - Incubators Development Corporation would have nodal centres at each taluka with a target objective of creating and sustaining mass entrepreneurship and innovation. The KRA or KPI of the this team will be to ensure that they actively engage in encouraging under graduate Goan youth/students to explore IT-enabled startups in agriculture, tourism, horticulture, fisheries, component manufacturing, culinary skills, etc focussing on the demand. Virtual Goa-IDC will have to provide the exchange ecosystem of big cities because, quite often, big cities are more inviting to innovators and entrepreneurs, a place where more exchanges of thoughts and ideas are

Startup entrepreneurship and innovation is not a bonsai, but a forest of startups that has to grow tough from both local and global competition available. If Virtual Goa-IDC becomes a place which houses several established largescale enterprises and some excellent universities and scientific and research facilities, it would be significant for mass entrepreneurship and innovation. It will help form closely-related industrial links and low-transactioncost economic relations. Interestingly, Goa has all the necessary ingredients to be the first model state for ‘Mass entrepreneurship and innovation’. The Facilitation Platform Goa already has established

institutions /a gencies like GCCI, GEMS, I-CREATE, incubation centres at CIBA, and GCCI convention centre Verna. It is indeed the appropriate time for the board members, founders /office bearers of such institutes to come together and cocreate the ecosystem for ‘mass entrepreneurship and innovation so that required and timely facilitation, traction between demand and supply is assured. We simply cannot afford to work in silos and keep hosting annual events. The need of the hour is to create Goa as a model state for mass entrepreneurship. Practitioners Platform The government will have to revisit and revise staffing policies as bureaucrats with years of traditional work culture will not be able to understand, empathise and drive ‘Mass entrepreneurship

and innovation’. Hence, provisions need to be made to get on board industry practitioners and freelancers on contract basis to drive such initiatives for the government, both for ‘Advisory and Implementation’ domains. Mass entrepreneurship and innovation is not a bonsai, but a forest of startups that has to grow tough from both local and global competition. Competition follows jungle law. Without a fair and competitive environment, it is like trees deprived of water. I am sure fellow Goans will reflect and improvise on the ideas I have suggested but, most importantly, come together and make this happen 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:

april 2018 | Business Goa industry Dossier | 53

beyond classroom / dr pradeep b salgaonkar

How to win customers! For any business to succeed, including startups, acquiring customers and retaining them is essential. A combination of key strategies will go a long way in achieving this feat


tartup is a buzz word today and everywhere one gets to hear about startups in India. The ‘Make in India’ initiative by prime minister Narendra Modi and the slightly improved ease of doing business, coupled with scarcity of jobs in India seems to have motivated youth to take to startups in a big way. However, the hard fact remains that not all startups succeed. According to a study by Harvard Business School, approximately 75% of startups will eventually fail in a few years’ time. The primary reason for failure of most startups is lack of profitability, emanating from startups’ inability to profitably attract and retain customers. No matter how good and innovative the startup idea may be, if it is not able to attract, delight and retain customers, the sustainability of the startup is at stake. All the passion, perseverance, attitude, knowledge, etc – the ‘must have’ qualities of a successful entrepreneur – are of no consequence if the startup is not able to attract its first few customers and delight them. It is not the idea, finance, human resource nor the production and operations, it is the marketing of a startup which is the biggest challenge. A greater challenge is getting those first few customers and winning their trust. Marketing experts and a whole lot of books on marketing suggest that one must offer a product only after ascertaining that there is sufficient demand for it in the market. For this, one has to conduct market research, need analysis, identify target segments and start marketing accordingly. And if you feel that there is no demand for your product, yet you feel you a have an innovative product that will solve customers’ problems or make their lives easy, then create a need and demand by making customers feel uncomfortable, make them feel that they are missing on something as they do not use your product. However, the big question is – how does a startup get its first customers? I remember a friend telling me about the difficult times he faced when he was struggling to get those first few customers. He is a first generation entrepreneur who ventured into manufacturing a construction-related product, the first person to manufacture this product in Goa in the early 90s. He

rate of entrepreneurial intention to 14.9 per cent, compared to nine per cent in 2015-16. The fear of failure rate has decreased to 37.5 per cent from 44 per cent in 2015-16. This shows that an increasing number of startups are going to sprout as more people are going to take to entrepreneurship. Acquiring customers So what could a startup do to acquire its first few customers? Here are a few tips: visited customer to customer, builder to builder throughout Goa with samples of his product to convince customers to buy it. No one believed that he could consistently manufacture and deliver the required quantity and quality of the product required. Moreover, it was hard for people to accept the fact that a Goan entrepreneur could manufacture and supply a quality product, which had hitherto been sourced from Mumbai, Pune and Bangalore. Goods from other states were preferred as everyone doubted the product quality and guarantee of supply. He admitted that it was not easy convincing customers to buy his product. He had to supply the product to distributors and retailers on a consignment basis (i.e. supply the product and receive only after sales). In spite of low pricing and heavy discounting, he found it difficult to secure his first customers. Only after repeated visits and requests, the customers agreed to buy his product when offered long credit periods. Well, in those days technology was not as advanced as today; social networks were absent and the luxury of free advertising and promotion through various social media platforms did not exist. One had to rely on personal selling and personal rapport or costly advertising to market wares. Today, the scenario is different. With technological advancements, ease and speed of communication and various social media platforms, it is much easier for startups to market their offerings. There is a global upsurge in startups and entrepreneurship. The Global Entrepreneurship Monitor (GEM) Survey 2016-17 has observed an increase in the

Utilize your existing network. Exploit your existing network to the fullest. This includes family, friends, personal contacts, offline communities, online communities, social media contacts, etc. Tell them about the startup and its products; ask them to try your products. Then look out for your friend’s friends, and then their friends and ask them to try your product. Introductory freebies. Provide free trials, free samples, discounted introductory pricing and product demonstration would help convince customers to try the product, know more about it and get an opinion about it. Listen to users to get feedback, get positive and negative points, learn in the initial days rather than hard sell and, if required, improve on the product based on customer feedback. Host beneficiary marketing. Tie up with an established business in line with yours. Offer your product to an established organization at a discounted rate. They, in turn, can offer it to your customers as a gift. In this manner, you will get exposure to a large database of customers while the host organisation earns goodwill – a win-win situation. The tie up works better with organisations offering complementary products or completely different products. Educate customers. Especially in the case of a ‘new to the world’ product, where people need to first be made aware of a problem that has a solution, educating the customer is vital. Engage in conceptselling. Make customers realize the problem and make them uncomfortable.

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


Then educate them on how your product is a solution to these problems. Once customers are convinced of the product’s value, you won’t require hard selling; it’s going to be a pull market. Proxy customers. Proxy customers could be of two types. Paid customers – create a set of customers who are paid to buy your product, provide feedback and share experiences. Own set – create a set of your own people, perhaps family members, employees, friends, etc who would speak well of the product to create awareness among customers, creating hype around the product. Display and demonstrate. Showcase and demonstrate products at events, trade fairs, exhibitions, etc. This helps to create awareness and interest. People can examine the product first-hand and respond immediately. Customer testimonials. Use customer testimonials successfully to acquire additional customers. The feedback and comments that customers provide become the best guarantee about the quality, usefulness and value of the

Marketing experts and a whole lot of books on marketing suggest that one must offer a product only after ascertaining that there is sufficient demand for it in the market product and this needs to be sent across to all prospective customers. Testimonials are the best form of marketing for a startup. It is simply a customer vouching for your product, which will provide confidence to other customers to try your product. Carpet bombing. While marketing, one has to be ‘shamelessly positive’ to succeed. Get into cold-calling – call every contact you have, make cold personal calls to every prospective customer, send cold emails and use all possible social media platforms to reach out to every prospective customer that may want the product. Content marketing. Create and distribute original content about the startup, product, community, employees, etc.

Brand name. At the onset, have a catchy and uncommon brand name. Or have a very common and relevant to business, but catchy brand name so that people are attracted to it and it’s easy to remember. Secondly, the ‘brand’ is the ‘experience’ you deliver to your customers, which is the outcome of the ‘customer service’ that is delivered by you and your employees to customers. From day one, ensure high levels of customer service to create a strong brand name. While all the strategies to acquire customers may not work with all startups equally well, a good mix of these based on the nature of business, products offered and target customer segment, needs to be worked out with precision. There is no harm in trying any of these strategies independently or in combination to acquire those first few customers. If the startup has to survive, you have to win over customers and to do that, you have to approach them. You won’t be welcomed by all of them, hence consciously practice ‘shameless positivity’ to succeed read your digital copy on>

april 2018 | Business Goa industry Dossier | 55

Letter from America / JAY dehejia

Why is BATNA important? Did President Donald Trump critically think through his BATNA – Best Alternative To a Negotiated Agreement – while fixing trade tariffs?


rade wars are good, and easy to win. So declared the 45th President of the United States in early March when he announced steep new tariffs on all import of steel and aluminum. Following up on that announcement, President Donald Trump imposed tariffs on $60 billion worth of Chinese goods coming into the United States. The US President, who clearly believes that he is one of the foremost deal makers, and possibly a great negotiator, could not have made a bigger blunder. Paul Krugman wrote in the Op-Ed column of the New York Times on March 23, “Actually trade wars are rarely good if you have no idea what you are doing. And boy, do these people not know what they are doing.” He went on to say, “Reducing trade deficit has been a long-term Trump obsession, so you might expect him to learn something about how world trade works…” It is quite amazing to read and watch how incredibly naive the President is about business negotiations and deal-making. Two weeks after the first announcement, the President and his administration removed tariff barriers on Canada and Mexico. At about the same time, the US President agreed to concessions for the countries of the European Union, and South Korea. He left out Japan from such waivers. Was the change of heart because of threats of retaliation or was it because the tariffs would mainly affect allies of the United States? It is interesting to note that the whole process mostly annoyed the allies, and primarily focused on steel and aluminum coming from China and Japan, countries from where just around 2% of the metal comes from. It has been clear to all of us who follow globalization of goods and services that China has played by its own rules. The Chinese government has put pressure on foreign suppliers to set up joint ventures with local (government-owned) companies, and then, in many high-tech industries, forced foreign companies to transfer technologies beneficial to China. It is clear that the Chinese market is huge, but American companies should know better, and consider what is good for them in the long term. But, I digress…. By imposing tariff barriers on products imported from China, the President of

the United States (who claims to take only his own advice!) did not understand the concept of a global supply chain. For example, an iPhone exported from China has components coming from countries around the region including strong allies of the United States. Chinese labour and capital only amount to a very small percent of the final price. Japan, South Korea, and component manufacturers in the United States will have more to lose by barriers announced by the President. The US Administration’s attack on low-cost labour jobs leaving the country comes after the major costs of globalization have already been borne. And it comes just as billions of people who have become integrated into the global economy over the last three decades are starting to become rich enough to become valuable consumers. In short, the anti-globalization drive that is spreading across the Western world may be coming at exactly the wrong time – too late to do much to save the working-class jobs that were lost, but early enough to risk damaging the ability of rich nations to sell advanced goods and services to the rapidly expanding global middle class. “The interesting thing about tariffs on steel or other goods is that it is fighting
the last battle, not the future one,” said Susan Lund, a partner at McKinsey. “Global manufacturing has already
reconfigured itself. That change happened, and the horse is out of the barn. We
don’t think globalization is over, but it has taken a new form.” Homi Kharas, a senior fellow at the Brookings Institution, studies the rise of the global middle class – which in his calculations includes people with income of at least $10 per person per day in 2005 dollars. For a family of four, adjusted to 2018 dollars, that works out

to around $19,000 a year. In 1990, only 23 percent of the world’s population fit that category. Today 45 percent do, meaning an additional 2.3 billion humans are now able to afford the luxuries that the global economy provides: abundant food, motorized transportation, mobile phones and the like. Mr Kharas argues that it is wrong to view these billions of people only as competition for good jobs. As of writing this piece, we see that China has made a strategic first move by threatening to impose $3 billion of barriers to the import of commodities and specific products made in US States that voted heavily for the 45th President in the 2016 elections. At this time, the Chinese government has not blocked Boeing from selling commercial airplanes to China. If the US imposes further sanctions on China, we should expect an all-out trade ‘war’ between the two countries. It is likely to hurt the United States more than China. The question before us is simple. Did President Trump critically think through his BATNA – his Best Alternative To a Negotiated Agreement? His early moves have given China an indication that they believe that the US has made the wrong first move. China appears to have the upper hand at this time, as they believe that they have a better BATNA than the US. So, what is BATNA, and how can we think through our BATNA before the talks begin? When one fails to do so, the possibility of making major mistakes can be high. Setting up trade barriers on steel and aluminum, and then backing down is one such major mistake. Deepak Malhotra, professor at Harvard Business School, in a Negotiation newsletter in 2004, mentioned that to determine your BATNA in a given negotiation, follow four steps. a) List your alternatives. Think about all the alternatives available to you. b) Evaluate your alternatives. Examine each one and calculate the value of pursuing each one. c) Establish your BATNA. Choose a course of action that would have the highest expected value for you – the course you should pursue if the current negotiation fails. And, d) Calculate your reservation value – the lowest value deal you are willing to accept. If the value of the deal proposed to you is lower than your reservation values, you will be better off rejecting the offer

The writer used to be a senior corporate executive. Now social entrepreneur. He spends most of his time between Goa and New York. Email: 56 | Business Goa industry Dossier | april 2018

corporate citizen / Daniel Albuquerque

5G and IoT Business Man-machine interaction will get a major boost once 5G is established


f you have not heard about ‘Echo’, ‘Cortana’, ‘Siri’, ‘Sonos’, ‘ivee’, ‘Triby’, ‘FABRIQ’, ‘Mycroft’, ‘JAM’, ‘Zentally’, and several such odd and weird names then you are of not this generation. In clear terms, these are speakers, the smart music speakers which apart from reproducing music at your bidding, also obey orders like “Alexa, play my favourite numbers” to “turn on the lights”, “read the messages”, “send the messages” etc, like a personal assistant. Now, imagine how just a single product of this kind can mint billions of dollars across the globe! The bigger picture, of course, is larger than the one above. It is too big. It comprises the new world beyond our immediate imagination. This and more is happening. The above is a simple example of wireless technology, and man-machine and machine-machine interaction. Being familiar with the current 4G technology, its economic power, its modernising advance and progress in every sphere of life, one needs to only imagine the exponential power of development when 5G is established in the near future. It is fast moving towards it and by 2020 will be established. Needless to say, it presents business opportunities and another huge prospect for India, which is in the forefront of IT. What has been thus far evolving in communication will be revolutionised with 5G. Internet of Things (IoT) is already happening under 4G in spheres such as home automation, business operations such as ATMs, bluetooth technologies, vending machines, security systems, medical equipment and facilities management, and industrial operations where AI is effectively employed. IoT is about connecting everything to drive businesses, whether big or small. Not very long ago, we thought computers would be the ultimate in information technology. However, now it seems that it has been a herculean human effort to collect and manage data. In other words, all that effort has not resulted in precision data. Imperfect data implies loss of time, energy and money. It is now a twin boon; 5G is a conduit for Internet of Things (IoT). South Korea’s Nak-Jun Sung, Jin Wook Choi, Chul-Hyun Kim, Ahyoung Lee and Min Hong published a research

Being familiar with the current 4G technology, its economic power, its modernising advance and progress in every sphere of life, one needs to only imagine the exponential power of development when 5G is established in the near future

paper in ‘Journal of Korean Society for Internet Information’ (August 2017, Vol. 18/4) titled, ‘Implementation of Badminton Motion Analysis and Training System based on IoT Sensors.’ The old coaching system consisted of following the arduous task of manually showing off the flags and then analysing and coaching players. With IoT, motion analysis is done by sensors which automatically detect and analyse motions of the players and impart direct and effective training. Every weakness of the player is detected instantly so that the coach can correct it and communicate instantly; every strength is also detected and a player can then can build the game competitively. Extend the scheme to the entire sports world! To gauge the extent and importance of IoT, let us consider a few global and Indian companies. The global logistics giant DHL uses IoT to streamline yard management for both inbound and manufacturing logistics. Hitachi, one of the largest global conglomerates, has created Hitachi Vantara to combine a host of enterprises to turn data into intelligent action and has IoT called Lumada to manage the life cycle of business assets from machine and human data to design tools. The Chinese mega telecom company Huawei has adopted IoT for total connectivity between people and things. Enterprise Resource Planning (ERP) has been revolutionised by SAP, the German-based European Software Company taking business management and customer relations to only what IoT can do. Interestingly, good old and reliable Rolls Royce uses IoT enabled sensors to monitor and solve problems

in jet engines, thus ensuring safety even before the actual occurrence of problems. The Government of Austria has already begun to attach sensors to autobahn (expressways) to manage traffic, save time and money. In India, Canopus Infosystems is in the forefront of IoT development. This Gwalior-based pan Indian company develops Bluetooth Low Energy (BLE) devices which are used in healthcare, automobile, home automation, warehouses, sensing and tracking domains. Traxroot, just five years old, based in Bangalore, is a fleet and field management telematics company that aims to improve productivity, safety and efficiency. The solutions are cloudbased software. Hidden Brains InfoTech is a decade-old Ahmedabad-based Web&Mobile Company. Their IoT services include: improving operational efficiencies and creating digital businesses by connecting people, dealing with processes and information. The single and most daunting challenge is the cost of the infrastructure of both connectivity and related devices. Just imagine the music speaker referred to at the beginning of this article. The speaker itself is several times costlier than the conventional one; add to it other costs of compatible lighting and dozens of other equipment in home automaton. Now consider connectivity, devices and hardware. On the darker side, one is aware of the serious and widespread cyber crime. Now multiply its gravity exponentially. Wars, financial scandals, vicious corruption, loss of privacy, economic hardships, loss of trust in humanity... all this and more will befall mankind. On May 17, 2018 a World IoT Summit is being organised in Bangalore. (For registration: http:// Summit_Bangalore_2018/) Its objective is to investigate IoT, which would remodel all our interactions with the real and virtual worlds. Select IoT companies and developer professionals will come together to share ideas, application and utilisation of the subject. The participants are restricted to 100 with tickets ranging from `800010,000. Internet of Things, it is just the beginning of a new tech-world

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


When can the HC intervene? Aggrieved parties often seek to challenge Labour Court or Industry Tribunal orders before a High Court. But there are only conditions under which the HC can intervene


ection 11-A of the Industrial Disputes Act 1947 confers right and discretion on the labour court / Industrial Tribunal to consider the proportion of the punishment imposed by management, only in the case of disproportionate punishment. However, a question that arises is – can the High Court interfere with the award passed by the Labour Court / Industrial Tribunal in exercise of its power vested under Article 226 and 227 of the Indian Constitution and, if so, under what situation? Very often this issue is raised by aggrieved parties. It is, therefore, necessary to understand the settled proposition of law in this regard. This was discussed in the case of K V S Ram Vs Bangalore Metropolitan Transport Corporation, reported vide 2015 (144) FLR 994. Analysing a brief background of this case, the Supreme Court observed that the High Court should not have interfered with the award passed by the Labour Court, while exercising its discretion. In the case of Syed Yakoob Vs K S Radhakrishnan (AIR 1964 SC 477), settled by the Constitution Bench, the Supreme Court observed: “… A writ of certiorari can be issued for correcting errors of jurisdiction committed by inferior courts or tribunals; these are cases where orders are passed by inferior courts or tribunals without jurisdiction, or is in excess of it, or as a result of failure to exercise jurisdiction. A writ can similarly be issued where, in exercise of jurisdiction conferred on it, the Court or Tribunal acts illegally or improperly as, for instance, it decides a question without giving an opportunity to be heard to the party affected by the order, or where the procedure adopted in dealing with the dispute is opposed to principles of natural justice. There is, however, no doubt that the jurisdiction to issue a writ of certiorari is a supervisory jurisdiction and the Court exercising it is not entitled to act as an appellate court. This limitation necessarily means that findings of fact reached by the inferior court or tribunal as a result of the appreciation of evidence cannot be reopened or questioned in writ proceedings. An error of law which is apparent on the face of the record can be corrected by

a writ, but not an error of fact, however, grave it may appear to be. In regard to findings of fact recorded by the Tribunal, a writ of certiorari can be issued if it is shown that in recording the said finding, the Tribunal had erroneously refused to admit admissible and material evidence, or had erroneously admitted inadmissible evidence which has influenced the impugned finding. Similarly, if a finding of fact is based on no evidence that would be regarded as an error of law which can be corrected by a writ of certiorari. In dealing with this category of cases, however, we must always bear in mind that finding of fact recorded by the Tribunal cannot be challenged in proceedings for writ of certiorari on the ground that relevant and material evidence adduced before the Tribunal was insufficient or inadequate to sustain the impugned finding. The adequacy or sufficiency of evidence led on a point and the inferences of fact to be drawn from the said finding are within the exclusive jurisdiction of the Tribunal, and the said points cannot be agitated before a writ court. It is within these limits that the jurisdiction conferred on the High Courts under Article 226 to issue a writ of certiorari can be legitimately exercised.” Similarly, in the case of Iswarlal Manoharlal Thakkar Vs Paschim Gujarat Vij Company Limited and Others (2014 (142) FLR 236 SC), the Supreme Court observed as follows: “We find the judgement and award of the Labour Court well-reasoned and based on facts and evidence on record. The High Court has erred in its exercise of power under Article 227 of the Constitution of India to annul the findings of the Labour Court in its award as it is well settled law that the High Court cannot exercise its power under Article 227 of the Constitution as an Appellate Court or re-appreciate evidence and record its findings on the contentious points. Only if there is a serious error of law or the findings recorded suffers from error apparent on record, can the High Court quash the order of the lower court. The Labour Court in the present case has satisfactorily exercised its original jurisdiction and properly appreciated the facts and legal evidence on record and given well-reasoned order and answered

the points of dispute in favour of the appellant. The High Court had no reason to interfere with the same as the award of the Labour Court was based on sound and cogent reasoning, which has served the ends of justice.” It is relevant to mention that in Shalini Shyam Shetti Vs Rajendra Shankar Patil (2010 8 SCC 329,) with regard to the limitations of the High Court to exercise its jurisdiction under Article 227, it was held in para 49 that: “The power of interference under (Article 227) is to be kept to the minimum to ensure that the wheel of justice does not come to a halt and the fountain of justice remains pure and unpolluted in order to maintain public confidence in the functioning of the tribunals and courts subordinate to the High Court.” It was also held that: “High Courts cannot, at the drop of a hat, in exercise of its power of superintendence under Article 227 of the Constitution, interfere with the orders of tribunals or courts inferior to it. Nor can it, in exercise of this power, act as a court of appeal over the orders of the court or tribunal subordinate to it.” Thus, while exercising the jurisdiction under Articles 226 and/or 227 of the Constitution of India, High Courts are duty bound to keep in mind that the Industrial Disputes Act and other similar legislative instruments are social welfare legislations and the same are required to be interpreted keeping in view the goal set out in the preamble of the Constitution and the provisions contained in part IV thereof in general and Articles 38, 39 (a) to (e), 43 & 43-A in particular, which mandate that the State should secure social order for promotion of welfare of people, ensure equality between men and women and equitable distribution of material resources of the community to sub serve the common good and also ensure that the workers get their dues. Once the Labour Court has exercised the discretion judicially, the High Court can interfere with the award, only if it is satisfied that the award of the Labour Court is vitiated by any fundamental flaws read your digital copy oN

The writer is a visiting faculty to many B-Schools. He is a professional trainer in many PSUs and private sector industries. Email: 58 | Business Goa industry Dossier | april 2018

v b prabhu verlekar / money matters

Time to file returns Follow these tips on how to file your returns, and soon you won’t have to depend on a tax consultant


he season to file income tax returns has begun. The time limit to file return of income for individuals and non-tax audit business entities for the financial year April 1, 2017 to March 31, 2018, which in income tax language is called assessment year 2018-19, is up to July 18, 2018. Do not wait till the last date to approach your tax consultant with the required data. Do your homework by getting all passbooks updated, list out details of all bank deposits, other investments and interest earned thereon, note down details of income from house property, sale of capital assets and shares of companies, as well as redemption of mutual funds. Obtain a salary certificate on Form 16 if you are employed and note payments made towards life insurance premiums, provident fund, mediclaim insurance, and other claims for deductions. Proof of these incomes and payments are not required to be attached to tax returns, but you should preserve these records in case you are called for scrutiny assessments. Also, have a ready explanation for all large deposits and withdrawals made to your bank accounts. Make sure you have not missed out any income. Do not worry if you are unable to obtain TDS certificates as a list of taxes deducted from your income is available in your account on the web site of the Income Tax department. The Income Tax department allows your claim for TDS based on the data uploaded on the web site. Log into your account on the income tax website www.incometaxindiaefiling. with your user ID and password to access information about tax returns, payment of taxes, pendency of assessment, demand status, refund issues, etc from the financial year 2008-09 onwards. Download the tax return form applicable for Assessment Year 2018-19 and try to compute the income for the current year based on tax computation prepared by your tax consultant for the previous year. In the course of time, you will be able to dispense with the services of your tax consultant and file your tax return online in the comfort of your home. Try this even if you have a tax consultant.

Taxable business income is not the same as income as per profit and loss account. It is arrived at after making adjustments for specified admissible and inadmissible expenses and income To better understand tax computation, I will break it down here. The income of a tax payer from all sources is divided under broad five heads: salaries, income from house property, profits and gains from business or profession, capital gains, income from other sources. The income under each of these heads is first required to be computed based on provisions of the Income Tax Act and Rules. For example, income under the head salaries is to be taken as per the Salary Certificate in Form 16 issued by the employer. In case of income from house property, you are entitled to deduction of 30% of the gross rental income. For this, you are not required to incur any expenditure. One house property can be treated as self-occupied with nil income; for other house properties, you are required to calculate deemed rent as per rules, even if they are vacant. From self-occupied house property, you are entitled to deduct interest on amount borrowed for construction/purchase up to `2,00,000. However, for rented properties, there is no such limit. Capital gains are classified as short term and long term. If any capital asset, other than specified securities, is held for more than 36 months before transfer or

The Columnist is a senior Chartered Accountant and has many books to his credit. Email: 60 | Business Goa industry Dossier | april 2018

sale, it is treated as long term. In case of immovable property, the time limit is 24 months. Specified securities are treated as long term if held for more than 12 months. Long term capital gains are taxed at 20% irrespective of the tax bracket. Short term capital gain is added to other income and taxed at the rate applicable to your tax bracket. Long term capital gains from sale of listed company shares and equity mutual funds held for more than 12 months is exempt from tax, while short term capital gains are taxed at 15%. Taxable business income is not the same as income as per profit and loss account. It is arrived at after making adjustments for specified admissible and inadmissible expenses and income. “Income from other sources� is the residual head of income. Any income not specifically taxed under any other four heads of income will be taxed under this head. For example, interest on deposits and securities, dividend from co-operative societies, rent of vacant land, gifts in excess of `50,000 from non specified relatives, other miscellaneous income. There are certain incomes which are completely exempt from tax and are not part of total income. Most common examples are dividends from Indian companies and income from units of mutual funds, interest on PPF, interest from Sukanya Samriddhi Account, postal savings account up to `3,500 and tax free securities issued by the central government, amount received on maturity of life insurance policies, share of profits in a partnership firm. Though agricultural income is completely exempted from tax, if the same is in excess of `5,000 it is aggregated with taxable income for the purpose of determining rate at which nonagriculture income will be taxed. From the gross total income calculated as above, deductions are allowed in respect to various specified payments, investments and expenditure as provided under the Act: a) Under section 80C. Payments made towards life insurance premiums, contributions made to public and other provident funds, deposit in Sukanya Samrudhi account, investment in National Saving Certificates and accrued


interest thereon, payment made towards repayment of loan for a residential house, specified bank fixed deposits, etc. All these are subject to maximum deduction of `1,50,000. b) Contribution made to New Pension Scheme up to `50,000/- u/s 80 CCD. c) Medical insurance premium up to `25,000 and for senior citizen `30,000. d) Interest on saving bank account up to `10,000/-u/s 80TTA. e) Deductions are also available for expenditure incurred for maintenance of disabled dependent, for medical treatment of specified diseases, for specified disabilities under various provisions under section 80. Under Section 5A of Income Tax Act 1961. Goan spouses, who are governed under Communion of Properties as per Uniform

Income Tax Resident Slab Individual < 60Yrs

Senior Citizens >60 yrs

Very Senior Citizens > 80 yrs

Up to `2,50,000












`10,00,000 & above




Civil Code, are entitled to divide their total income except salary in equal shares in the hands of each spouse. Also, each spouse is eligible for above deductions separately. This results in substantial tax savings. On net taxable income arrived at after above deductions, you are required to calculate income tax

liability as per rates the table seen. In addition, you are required to pay Education Cess and secondary and higher education cess at 2% and 1% respectively. In addition, there is surcharge at 12% if total income exceeds Rs 1 crore. In case, the total income is less than Rs 3.5 lakh, you are eligible to claim

a tax rebate of up to `2,500/u/s 87A. From your gross tax liability, you should deduct advance tax paid and TDS. The balance due, if any, should be paid before filing tax returns. The refund due will be credited to your specified bank account directly after your tax return is processed. Before approaching your tax consultant to file your tax returns, work out your income and tax liability. In the course of time, you will be able to dispense with the services. Be glad if you have to pay a lot of taxes. It means you have made lots of money. It is better to pay taxes on income rather than having no income to pay taxes. If paying taxes still hurts, seek solace from the words of Justice Oliver Wendell Homes, â&#x20AC;&#x153;I like to pay taxes; with them I buy civilisationâ&#x20AC;?

april 2018 | Business Goa industry Dossier | 61

legal eagle / Amey Salatry

Clarity on disqualification

Here’s a look at the provisions of the Companies Act dealing with the striking off of companies and directors’ disqualification


here has been much discussion and ambiguity surrounding striking off of companies due to non compliance of Companies Act, 2013, having a consequential effect of director disqualification in a company. This has caused a significant impact on the position of director as the impact of being disqualified as a director in a company for a period of five years even in a nondefaulting company can be significantly damaging. The following are some of the key provisions that relate to striking off, and director disqualification under the Act. PROVISIONS According to Section 248 of the Companies Act, 2013 (‘Act’) which deals with the power of the Registrar to remove a name of company from register of companies: “(1) Where the Registrar has reasonable cause to believe that— (a) a company has failed to commence its business within one year of its incorporation; (b) [omitted] (c) a company is not carrying on any business or operation for a period of two immediately preceding financial years and has not made any application within such period for obtaining the status of a dormant company under section 455, he shall send a notice to the company and all the directors of the company, of his intention to remove the name of the company from the register of companies and request them to send their representations along with copies of the relevant documents, if any, within a period of thirty days from the date of the notice.” Section 248 Vs Section 455 of the Act: Further, Section 455 empowers the ROC to remove the name of a company from the register of members. As per the provisions of Section 455 of the Act, which deals with the provisions of dormant company: “(4) In case of a company which has not filed financial statements or annual returns for two financial years consecutively, the Registrar shall issue a notice to that company and enter the name of such company in the register maintained for dormant companies.

(5) A dormant company shall have such minimum number of directors, file such documents and pay such annual fee as may be prescribed to the Registrar to retain its dormant status in the register and may become an active company on an application made on its behalf accompanied by such documents and fee as may be prescribed. (6) The Registrar shall strike off the name of a dormant company from the register of dormant companies, which has failed to comply with the requirements of this section.” The section states the following procedure to be adopted by the dormant company and the RoC: (a) RoC may remove the name of an inactive company from the register of members and put the same in the register of dormant companies. (b) The dormant company shall then comply with the requirements and retain its dormant status or make an application to become an active company. (c) Thereafter, if the dormant company fails to comply with the requirements of the section, then the RoC can finally remove the name of such company from the register of dormant company as well. Hence, there does not seem to be an enabling provision under which the names of the companies are struck off and consequentially directors disqualified. Section 164 (2) of the Act provides as follows: “No person who is or has been a director of a company which— (a) has not filed financial statements or annual returns for any continuous period of three financial years; or (b) has failed to repay the deposits accepted by it or pay interest thereon or to redeem any debentures on the due date or pay interest due thereon or pay any dividend declared and such failure to pay or redeem continues for one year or more, shall be eligible to be re-appointed as a director of that company or appointed in other company for a period of five years from the date on which the said company fails to do so.” Further, Section 167(1)(a) of the Act directs that the office of a director shall become vacant in case he incurs any of the disqualifications specified in section 164 of the Act.

Therefore, reading both the sections, it can be concluded that the directors of such companies will: 1. have to vacate their office, due to the disqualification incurred; 2. not be able to be re-appointed as a director of that company; 3. not be eligible to be appointed in any other companies as well. The second and third effect will last up to a period of five years from the date on which the said company fails to comply with the provisions of section 164 (2) of the Act. Having said so, there arises a further question: ‘Does disqualification to section 164(2) (b) of Act will also apply to directors newly appointed in the company?’ It is important to note the starting lines of section 164(2)(b): “No person who is or has been a director of a company which...” Thus, to attract disqualification under section 164(2)(b), it is important that the individual has to be on the board of the company when the default actually occurred. Therefore, even new directors of such companies will attract a disqualification, in spite of the fact that they were not at all involved in such non-compliance. Essentiality, the intent of law might be to deter companies from defaulting, which would demotivate any new director to join the company. Remedies The following remedies are available to the companies whose names have been struck off the Register of the Companies: a) Appeal filed by any person: Any person aggrieved by the order of the RoC may file an appeal before the Tribunal within three years of the order passed by RoC and if the Tribunal is of the opinion that the removal of name of company is not justified in view of the absence of any of the grounds on which the order was passed by the ROC, it may pass an order for restoration of the name of the company in the register of companies after giving a reasonable opportunity of making representations and of being heard to the ROC, the company and all the persons concerned. The genuine companies which have been struck off will move to file an appeal to

Amey Salatry, partner, and Ajinkh Phondekar, Consultant Company Secretary, form part of the team at Legal Minds LLP. Legal Minds LLP is a boutique law firm 62 | Business Goa industry Dossier | april 2018

the NCLT in this case. (b) Application filed by ROC: The ROC may, within a period of three years from the date of passing of the order dissolving the company under section 248, file an application before the Tribunal seeking restoration of the name of such company if it is satisfied that the name of the company has been struck off from the register of companies either inadvertently or on the basis of incorrect information furnished by the company or its directors. Genuine companies may make representations to prove their innocence or bonafide reason of such non-filings, pursuant to which RoC may, on valid reasons but within a period of three years, restore the name of such companies. (c) Application filed by company or any member or creditor or workmen: The Tribunal, on an application made by the company, member, creditor or workman before the expiry of 20 years from the publication in the Official Gazette of the notice of dissolution of the company, if satisfied that: 1) the company was, at the time of its name being struck off, carrying on business or in operation; or 2) b) otherwise it is just that the name of the company be restored to the register of companies, may order the name of the company to be restored to the register of companies. Further, the Tribunal may also pass an order and give such other directions and make such provisions as deemed just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off from the register of companies. Therefore, in the present situation, it will be best for companies to make representations/ applications to the RoCs proving that the companies are not involved in any fraudulent activities or involved in syphoning of

funds through illicit activities. The representations/ applications may convince the RoC to restore the names of such companies. However, the question remains that in case of the directors who do not intend to revive/restore the struck off companies, what avenues are available with them. The Companies whose names are not struck off from the register of companies, but their directors stand disqualified pursuant to Section 164 (2), the Ministry of Corporate Affairs have come up with a scheme known as CODS 2018 (Condonation of Delay Scheme 2018) vide its General Circular No.16/2017. Under this scheme, the ministry has activated the blocked DIN until March 31, 2018 (extended to April 30, 2018), to complete the pending filing of annual returns and financial statements. This scheme allows the companies to file overdue documents and make good the non compliances. In view of this position, if the Companies are struck off then the most effective remedy is to approach the National Company Law Tribunal, Mumbai (for Goan companies) and seek restoration of the companies. If the companies are not struck off, but the directors are disqualified, then the companies can seek recourse to CODS scheme. Needless to mention, as a director of a company, it is his/her duty to ensure that compliance of all the applicable laws are done in letter and spirit giving preference to compliance of law. Every person who is being appointed as a director on the board of the company must be aware of the basic provisions of law which needs to be adhered to so as to prevent disqualification, which can hamper his/her interest to actively participate in the operations and management of a company april 2018 | Business Goa industry Dossier | 63

economania / dr manoj kamat

Manufacturing needs to pull up its socks

India’s manufacturing sector has to receive a fillip, to improve its performance on the GDP index


he Nikkei India Manufacturing Purchasing Managers Index (PMI) fell to a five-month low of 51.0 points for March 2018, indicating the slowest improvement in operating conditions recorded by the survey since last October. This monthly announced index suggests that India’s manufacturing sector is at the weakest pace now, reflecting fewer gains in new business and a decline in employment growth in these six months. The current PMI level rings a warning bell in the labour market as it seems that manufacturers operating in consumption and the intermediate market group signal no appetite for fresh recruitment. Soggy growth in manufacturing The concern for India is that despite intentions to scale up manufacturing. the sector’s contribution to the GDP isn’t growing. Manufacturing accounts for 16 percent of India’s GDP only while the same is 40 percent for a country like China. On comparison with the newly industrialised countries of Asia, it is found that 35 percent of Thailand’s GDP is from manufacturing, Philippines at 30 percent while Indonesia around 29 percent. From contributing nine percent of India’s GDP in 1950-51, this contribution stagnated at 15 percent for over two decades. The Parliamentary Standing Committee of Commerce (2017) has indicated that the manufacturing sector has grown only by an average of 1.6 percent in the last five years till 2015-16. On the export front, too, there is no gain. India’s manufacturing exports contributes to 17 percent of its GDP. The negative factor is, however, that the Indian imports of manufactured goods are equivalent to of 16 percent of its sectoral GDP. This neutralises the total gain. Not just dampness, there is a waterlog The actual situation on the manufacturing front is much more severe if one critically looks at the Index of Industrial Production (IIP) data. The IIP gives a broad outlook on output of various types of goods like basic, consumer and capital ones, which helps gauge the level of economic progress and investments in the economy. I prefer to say that growth of Indian manufacturing is worse than it actually seems because there have been dramatic changes recently in the data

generating methodology of the IIP. The weightage accorded to the subsectors comprising the IIP underwent revision since May 2017 after the index with new base year of 2011-12 was introduced. Factually, the domestic investment rates declined in India with global slowdowns and were further affected by demonetisation and GST. These factors grossly affected our manufacturing sector too. The aggregate manufacturing value added decelerated from 10.8 per cent in 2015-16 to 7.9 per cent in 201617 and was expected from the IIP which covers the organised manufacturing sector comprising of large units. But slippages and downgrades don’t suit any government preferences. The dampness represented by the data had to be sucked out some way or the other. The rules were then changed. Resultantly, the fear prompted the figures to be dramatised by bringing out a change in computational methodology. The fear of failure prompted the government to demonstrate that the unachieved was achieved. The IIP, instead of actually showing a sharp decline as expected, now showed the IIP appears to have accelerated from 3 per cent growth in 2015-16 to 4.8 per cent in 2016-17. This was possible as the IIP was revised with a new base year of 2011-12 with additions/ deletion in the sub-sectors and the change on weights for measurement. This has led to different estimates of growth than the series with the previous base year of 2004-05. Had the base year change not been made, the IIP figures would have demonstrated a sharp deceleration in the past three years to the point of no growth at all in 2016-17, owing to sharp decline in production of food products, beverages, tobacco products, cement and

apparel. Further, the little jobs available in this sector are woefully low-paying in comparison with other sectors. According to the latest Monster Salary Index, manufacturing has been the lowest paying sector with `211.7 median hourly gross salary in 2016-17. This comes as a jolt at a point where there have been concerted efforts otherwise to make India a manufacturing hub. Despite reasonably good economic growth, the median hourly salary dropped 16 percent for this sector. This daunting phenomenon can pose as a major challenge to attracting talent to the sector. Soggy growth affects jobs It is estimated that India needs to create 10 million new jobs each year outside agriculture to stay at its current unemployment level. Recent data from the Annual Labour Bureau survey, the NSS, and the CMIE indicate that job growth is lower than entrants to the labour force as the youthful labour force between 15 and 29 years saw a very sharp increase of 40 million, from 147 million to 187 million between 2011-12 and 2015-16. To accommodate this growth, the manufacturing sector has to grow. The previous section explains how soggy its growth has been in the past. The share of manufacturing in total employment increased only marginally to 12.2% in the first half of the last decade, but declined severely to 11% in the second half. This indicates disruptions in the steady expansion of our manufacturing sector. If this trend is not reversed, job creation would be difficult. At present, this sector per se accounts for relatively less share of the total national employment compared to the past, increasing our worries on the job front. The country’s manufacturing sector has grown only around 7 percent per year on an average in the past three decades. But the period 2005-2013 was volatile, displaying growth rates as high as 18 percent in 2007-08 and as low as a negative 0.8 percent in 2013-14. In this connection, the results of the Sixth Economic Survey suggests that the number of establishments in manufacturing sector increased by 28 percent over the past eight years while the number of workers in the sector only rose by 19 percent. This

The author has a Post-Doc in Economic Policy and PhD from IIT Bombay in Finance. He contributes popular columns on the subject 64 | Business Goa industry Dossier | april 2018

continued to page 71>


Heritage Hideaway


Nature Inn, an enterprise of Falari Farms, captures the true essence and charm of Goa.

A typical village scene recreated at Nature Inn By ANNA FERNANDES


t is difficult to find tranquillity when you’re navigating through crowds, steering through traffic, and dealing with the overall stress of city-life. From the moment you set foot within the gates of Nature Inn, a kind of tranquillity engulfs you, a kind of tranquillity that seems to deafen the rattle and hoot of traffic that lies merely twenty minutes away. A hidden gem, nestled within 20 acres of lush green forest area in a serene village called Nanoda, Nature Inn, an enterprise of Falari Farms, is the epitome of tranquillity. The ambience exudes the warmth and hospitality of the hosts. The rustic stone pathways winding through the establishment, the cosy nooks amidst the abundance of nature, coupled with the vibrant murals adorning

the walls, lend the place a relaxed vibe. An enterprise of Samir and Gauri Falari, Nature Inn at Falari farms was originally conceptualised in 2010 through a chance conversation between Samir and a few friends. What began as a pipe dream of a starry-eyed circle of friends, has snowballed into a story of immense success. Launched in November 2013, Nature Inn has completed five years in operation. Having started with converting the farmhouse into dormitories, progressing to construction of a rain-dance floor, Nature Inn has been renovated and refurbished over the years to upgrade facilities and amenities. Working with a specialised architect, the Falaris ensured that their design and architectural blueprint would respect the natural topography of the land. The establishment has

been designed in a manner to minimise impact on the natural ecosystems thriving within the estate. The quiet sanctuary that Nature Inn offers, as it seamlessly blends the view of the natural forest cover with Goan hospitality, has proven popular with locals and tourists alike seeking a hideaway. Nature Inn is a popular destination for family outings, educational tours, day-picnics, romantic getaways, social gatherings, conferences, corporate events, weddings, birthday parties and more. The amenities offered are all designed to transport you to an era of unhurried living and youthful exuberance. These include exclusive sitout areas for guests, open-air venues with a stage equipped with a powerful sound system, two pool-party – venues perfect for those warmer

At Sapanar

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After strolling through the property, cool down in the inviting pool.

months, and a rain dance floor ideal for uninterrupted fun set to the rhythm of the music and beats of the rain. An ideal retreat for families and friends to have a cheerful getaway, Nature Inn provides non-AC as well as AC units, and a children’s play area that will keep the little ones busy during their stay. Nature Inn focuses on day-picnics. There are special packages for schools, colleges and corporate organisations, which include lunch and high tea, as well as a multitude of educative and recreational activities. Nature Inn showcases typical Goan food cooked in an authentic Goan style, devoid of any additives or preservatives. Dietary alternatives can also be arranged with prior intimation. Goa is known mainly for its beaches and eclectic nightlife. Little is said about

Savour flavours of Dilli at Novotel Goa Dona Sylvia Chikki Gali Ki Tikki

Kebabs and Kurries restaurant


hink “by-lanes Of Old Delhi”, then head to Kebabs and Kurries. The authentic Indian restaurant at Novotel Goa Dona Sylvia Resort, will take you down Old Delhi streets with its ‘Zaika Purani Dilli’ food festival. Executive Chef Sachin Talwar has put together the most delectable vegetarian and non-vegetarian dishes that capture the essence of old Delhi’s traditional food. Old Delhi is famous for its street

food. The variety consists of mouthwatering snacks, especially chaat, tikkas, parathas, butter chicken, cholebhature, kadichaval and many more. To enjoy it, one has to shed the high attitude to soak in the aromas, flavours and delicacies. The starters include Kishori Mal ka Paneer Tikka, Chikki Gali Ki tikki, Chawari Bazaar ki Bhalla Papadi chaat, Guptajike Samose Kachori chole, “Sweety Sardar Da

Tandoori Chicken”, “Riyaz Bhai’s Fried Chicken”, “Ganesh Di Tali Machchi”: crisp-fried marinated fish flavoured with mustard oil, ajwain and gram flour promises hearty goodness alongside dishes like Bhatti Ki Seekh and Murgh Tikka. The main course comprises of authentic flavours such as Sadar Ka Paneer Makhani, ChurChur Naan, Om Ke Chole Bhature, Purani Dilli Butter Chicken, Noora Nihaari Gosht, Tawe Ki

Keema Kaleji, Khass Chicken Korma, Waris Miyan Ka Mutton Istew and Nawabki Biryani among other options. Desserts would not be complete without old favourites such as Garma Garam Gulab Jamun, Bangali Market Ki Rasmalai, Giani’s Kulfi Falooda and Matka Phirni. The event is on from April 22 to May 10, 2018 at Kebabs and Kurries, Novotel Goa Dona Sylvia Resort, from 7-11 pm Novotel Goa Dona Sylvia

Sweety Sardar Ka Tandoori Chicken

its rich cultural heritage – from the friendly earthiness of village life to the arts, there is much to be explored. Ever since the Indian peninsula was first discovered by the Portuguese, Goa has been enriched with its cultural diversity. Nature Inn offers a glimpse of this cultural diversity, through Sapanar, a heritage house within the establishment. Sapanar, translating to ‘fleet of stairs’ in Portuguese,

is an allusion to the literal fleet of stairs that once led up to Nanoda, but tragically washed away by the wave of urbanisation. Goan villages are the heart and soul of the landscape of this tropical state. Marked by close-knit communities, traditions through the ages, an abundance of natural resources, stories passed through generations, and much more, these villages are unique and an integral part of

Goa’s culture and history. Sapanar is a creative enclave that transports one to a bygone era, through meticulously preserved and collected antique curios, implements, and artefacts – from tools to furniture and utensils. Nature Inn strives to keep Goa’s basic rural social fabric alive, capturing the charm of an idyllic village setting. At Nature Inn, what stands as a tribute to the consistent hard work and

dedication of the Falaris is the appreciation they receive. “Numerous visitors to the property have posted testimonials on our website These are extremely gratifying to read,” says Gauri. The breathtaking estate offering a quiet sanctuary to visitors wanting to steep themselves in true Goan hospitality and its natural forest cover is definitely worth visiting

april 2018 | Business Goa industry Dossier | 67



Five star treatment for all at Fortune Miramar

With exemplary amenities, thoughtful décor and delicious food, tourists and locals alike have found a gem in Fortune Miramar


estled along one of the busiest streets in Panjim and blessed with a hint of nature’s touch, Fortune Miramar is an ideal boutique cum business hotel. Making the best use of its prime location and exposure received as a member of the ITC’s hotel group, the team has managed to set a bench mark not only in the hospitality sector, but also through its active involvement in CSR activities. In terms of proximity, Fortune Miramar’s strategic location – 200 metres away from Miramar beach and 2 kms from Panjim city and Dona Paula Jetty – takes care of guests’ major concern regarding connectivity, especially for those who want to experience luxury within city limits. A feature of the hotel that makes it stand out is the minute detailing work on the façade. The embossed tree on its glass-framed structure adds charm to the look of Fortune Miramar, which is surrounded by thick foliage of rain trees. Flooded with a number of tourists and local guests round the year, this hotel promises to provide its guests with a quiet space in its comfy nooks to unwind from the bustling activity of city life – whether it’s at the alfresco dining

The nature-inspired front facade

tones. The interiors remind guests that they are close to nature in Goa and the strong relationship this place shares with sand, the ocean and greenery is evident from the decor. Comfort with ease is another reason why guests throng to Fortune. From the valet parking to the disability-friendly room and services like holiday packages for every season to exciting food festivals, everything here is designed to give their guests a once in a lifetime experience. The hotel also has pocketModern comfort

A feature of the hotel that makes it stand out is the minute detailing work on the façade. The embossed tree on its glass-framed structure adds charm to the look of Fortune Miramar, which is surrounded by thick foliage of rain trees area of Orchid restaurant, the gym or the third floor swimming pool, by the bar or even if you simply prefer to cocoon in the comfort of your room. The beautifully furnished rooms and suites pander to local sentiments, reflecting Goa’s hues of blues, greens, mustards and earthy

68 | Business Goa industry Dossier | april 2018

friendly services, making it accessible to many more. This includes a hearty buffet, round-the-clock dining, its à la carte menu (Rs 500 for the priciest dish and Rs 350 for a Black Label), and snacking options available exclusively at Orchid, the multi-cuisine restaurant. The deals offered here will make jaws drop given the five-star ambience, spot-on tastes and top quality service. Another unique feature that leverages the popularity of Fortune Miramar is its extended breakfast buffet hours that are 7 am to noon. The hotel is even frequented by women to spend quality time their friends, especially mums who drop their tots to school and enjoy an impromptu kitty party before heading back to

their routine. When it comes to experimenting with food, Fortune Miramar is at the forefront of established five star hotels in Goa. Their innovative menu and promotions have attracted a lot of attention in its first year of operations. One of the hotel’s most successful promotions that took Instagram by storm is the #miramarburger during their Burger Festival. This festival featured Fortune’s signature red and black buns coloured using beetroot and onion powder and roasted to perfection. The hotel also hosted a Beer Meets Food festival in September last year, which incorporated beer in every course – from entrée to dessert. After receiving an overwhelming response from these promotions, Fortune Miramar has now incorporated these signature dishes into their recently launched menu. Added to this, they have also offered an amazing range of International, Indian and Goan cuisine. So be ready to be spoilt for choice! To start off, there are soups and house greens for those looking for healthy options, to international and Indian street fast food for those who can want to treat themselves to a cheat meal. The menu will leave guests spoilt for choice. Some of the signature dishes are Beer and Cheddar Soup (a concoction of hoppy pilsner beer and cheddar cheese with bacon or chicken as option), Dal-e-fortune (black lentils slow cooked with fresh spices cream and butter), and the loved Red, black and sesame burgers offered in vegetarian and non-vegetarian variants. Fortune Miramar has also spread their reach to locals living and working in Panjim, who wish to enjoy their meals within the comfort of their

home or office space. This is possible through the popular Fortune Miramar packed lunches. This packed lunch service offers you an enticing value-for-money option and consists of eight different dishes in a microwaveable compartment box, which also includes a suitable dessert. There are four cuisine varieties, including Goan; the meal is priced at Rs 200. With a minimum limit of five orders, the meal will be delivered. Proving its excellence in the hospitality sector, Fortune Miramar has also contributed towards the environment and society at large. How? Through their well-designed and executed designed waste management strategies that inspire guests to live an eco-friendly lifestyle. The architects behind this beautiful structure have employed green design to save energy, from LED lighting and

Art on a plate: Shahi Aloo Tikki. (Below) The conference room at Fortune Miramar

energy-efficient glass panels that draw in natural light to solar panels for heating water. However, what also

After receiving an overwhelming response from promotions, Fortune Miramar has now incorporated some signature dishes into their recently launched menu

deserves appreciation is the installation of a 150kg organic waste converter that feeds its burgeoning vegetable and

fruit farm. Ricardo D’Lima, general manager of Fortune Miramar, informs us that veggies and fruit from here are sourced for food served in their restaurants and adds that guests can expect more farm-to-table produce in the coming years. This energetic team also constantly works to give back to the community. Fortune Miramar works closely with Peace Haven, a boarding and day school for children with mental challenges. Each year, it hosts a lunch for the students of the school, playing games and spending time with them. They have also hosted events for a section of CCP and for women on International Women’s Day. Thanks to their efforts, innovations, and competitive pricing, Fortune Miramar offers people five star treatment… and it doesn’t cost a fortune!

april 2018 | Business Goa industry Dossier | 69

What’s Up Goa


Summer at Le Meridien Goa Calangute Avi’s Opticians opens 2nd store

This summer, the dedicated recreation team at Le Meridien Goa in Calangute has curated a host of activities that will ignite little minds and set them off on a path of creative expression. Arts and crafts, dance, music, storytelling, creative writing, yoga, swimming and more sessions have been planned to keep the little ones entertained

this summer. It promises to be a creative way to spend the summer. There will also be a special discount on food and beverages for parents. The camp is on till May 13. A weekly session costs `3000 plus taxes while daily taxes cost `500, plus taxes. Sessions include lunch. For enquiries, call +91-7410067643

Avi’s Opticians announced the launch of its second store, in Margao. Following the success of its existing store at Curchorem, the new store offers a wide range of fashion eyeglasses along with an exhaustive collection of sunglasses and cosmetic contact lenses. The new Avi’s Opticians store is more spacious and offers some of the most fashionable merchandise. There is a wide range of frames and sunglasses from well known international brands like Tommy Hilfiger, Carrera, Polaroid, Pierre Cardin, French Connection. Also available is the entire

Dairy brand Keventers has expansion plans Iconic dairy brand Keventers is all primed to announce its expansion into the vibrant Goan market. Only recently, Goa witnessed the opening of its first Keventers outlet at MG road in Panjim, followed by another one in the Tito’s Lane in Baga. Keventers offers an exciting set of products in its menu, including shakes and pre-packaged food like popcorn, cookies etc in a varied range of unique and delicious flavours to enjoy. Customers in Goa will now have access to the brand’s delicious offerings, including the thick Mint Oreo Crumble, Chocolate Oreo, Tutti-Frutti, Kesar Badam milkshakes, or indulge in some classic butterscotch, strawberry, cold coffee or mango shakes. Keventers also offers fruity shakes such as Luscious Blueberry, Alphonso Mango

shake and Exotic Strawberry. The hot beverages menu will be a mix of warm milkshakes (Balmy Banana, Creamy Chocolate, Soulful Salted Caramel), Tea (Green Tea, Masala Madness), special hot shakes (Kesar Pista Milk, Kashmiri Kahwa, Chocolate Comfort) and hot coffee

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(Espresso, Americano, Café Latte, Cappuccino). The company is now geared to launch 11+ stores in Goa over the next year and envisages Goa to be a prominent western market for the brand. By 2019, Goa will have the fifth largest portfolio for the brand in terms of number of outlets rivalling only Delhi, Mumbai, Bangalore and Hyderabad. By rapidly expanding and focusing the company’s efforts in capturing the coastal regions, Keventers is also eyeing a big chunk of the Goan market and anticipates an overall growth rate of 100% over the next year. With this expansion, the brand also expects the Goan outlets to add `25 crore annually to the company’s revenue and this will include a mix of outlets which will be company owned as well as franchised

range of the world’s most advanced personalised eyeglasses known as ‘eyecode’ and ‘Varilux XCLUSIVE’ from Essilor, France, which takes more than 13 complex eye measurements to provide their customers a limitless vision through glasses. All the products are priced while keeping current market trends in mind. At the launch of the store, owner Ashwin D’Souza said, “It has been our endeavour to enhance customer experience at our stores with superior quality products, service and an overall great shopping ambience that Avi’s Opticians has on offer”

Easter at Kenilworth Kenilworth Resort & Spa hosted a splendid Easter Sunday Brunch with an array of scrumptious meals, complemented by live music to entertain the guests. The Easter-themed games and fun-filled activities engaged all the guests. The brunch had a splendid display of 11 live stations along with an extravagant buffet spread of international cuisine to indulge in. Apart from this, there was a wide range of innovative cocktails and mocktails, skilfully mixed for unlimited feasting. One could also opt for unlimited beers and sparkling wine. The Easter bunny and its troop organised egg-citing games for kids to keep them entertained, while the older guests enjoyed activities like water zorbing, shooting, giant outdoor chess and much more throughout the evening

YUVA Corporate Football Fest on 20th May

Entries invited from all corporates YUVA is organising the first edition of YUVA Corporate Football Fest 2018 on May 20, 2018 at SAG Athletic Stadium, Bambolim, Goa. The idea of the sporting property is to promote sports, fitness and health across the state of Goa. The event will have a knock-out tournament with a series of matches, with attractive prizes and trophies. Football, as the state sport of Goa, has garnered great attention from its villages. This fest will feature 16 local teams/clubs and 16 corporate teams from across Goa and neighbouring states. YUVA is a voluntary association of enthusiastic youth based in Panaji, who want to give something back to society and has done so since its inception in the

year 2012. YUVA has been instrumental in the development of society, specifically youth, women and also in restoration of the environment besides helping youth to mould themselves through good moral behaviour. For their efforts, they have bagged the Goa State Best Youth Organisation Award from Directorate of Sports and Youth Affairs, Govt of Goa as well as Best Youth Organisation award at both North Goa District and State under Nehru Yuva Kendra, Ministry of Youth Affairs and Sports, Govt of India. Recently, YUVA was awarded the prestigious National Award for Best Youth Organisation by Ministry of Youth Affairs and Sports, Govt of India.

Manufacturing needs to pull up its socks <continued from page 64

shows that manufacturing establishments are getting smaller with a decline in average employment per establishment. Similarly, the economic survey data also reports that the total number of workers finding a livelihood in enumerated establishments across all sectors went up by 35 million to 131 million in 2005-2013, but the increase in manufacturing employment contributed just five million to this growth. For India to address the growing demand for job creation, the manufacturing sector must emerge as one of the high growth sectors. If Indiaâ&#x20AC;&#x2122;s manufacturing sector realises its full potential, it could generate

25-30 percent of GDP by 2025, propelling the country into the manufacturing big leagues, along with China, Germany, Japan, and the United States. Along the way, it is estimated that we could create 60-90 million new manufacturing jobs and become an attractive investment destination for our own entrepreneurs and multinational companies. The enormous support countries like Korea, China and Japan have extended to private manufacturing to create enormous capacities, to enhance consumption and export competitiveness must be a model for India to follow. For this, we must learn to address failures rather than fearing them

The organisers have appealed to all corporates to participate in this 16-

team event. For details, call 9420595013 or 9545622528

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Read the best of business books. From influential authors. Thousands of titles to choose from. Come, empower yourself. 1st Floor, Ashirwad Building, 18th June Road, Panaji GOA 403001 Tel:. 0832-6647038 april 2018 | Business Goa industry Dossier | 71


Le Meridien Goa

A meal fit for a king… and his family!

Latest Recipe at Le Meridien Goa will leave you spoilt for choice. From Indian to European, Goan to Asian... they cook to suit every palate Tandoori platter



n the hustle-bustle of Calangute, bursting with entertainment and eateries, a five star property is possibly not the first place that would come to mind while looking for a place to eat in Goa’s most crowded beach belt. But Le Meridien Goa wants to change that. And they’ve certainly got the food to lure the most discerning diner. In operation for less than a year, the hotel attracts tourists staying elsewhere for their massive breakfasts. To get people on holiday to dress up and head to your restaurant for the first meal of the day is no easy feat. The chefs at Le Meridien’s Latest Recipe (incidentally, you will find a Latest Recipe in all Le Meridien hotels across the world) like to incorporate local elements in their dishes and this is evident even in their property here. All dishes in their signature breakfasts have Goan flavours. There is a savoury crepe with mushroom xacuti, Goan choris omelette, poached egg with samarachi kodi and poi and a bebinca tartine with tender coconut ice cream. And if you’re a dessert-forbreakfast person, there are also vanilla and chocolate éclairs in addition to the curious-sounding mango and cashew feni éclair. Even the humble, but much loved ross omelette can be relished here. There are also the set Continental, American, Indian and local breakfasts and the buffet for all those who love a gigantic, leisurely breakfast (guilty!). We stepped into Latest Recipe for an early dinner. This restaurant has a cosy sit-out area with comfortable chairs and a view overlooking the swimming pool and a part of the property, but it was a warm night, so we preferred to dine indoors. The chicly designed restaurant has an inviting setting and I personally

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Mutton xacuti, vegetable peri peri, Goa rice, and the chefs’ take on poie.

love the purple chairs. Executive Sous Chef Vamsi Krishna kick-started our meal with a tandoori platter. I first sunk my teeth into the Gilafi seekh kebabs. This lamb mince kebab was grilled for just the right amount of time. Too often, mince kebabs are cooked till the flavours are sucked out of them. This kebab was moist and juicy. The Murgh Malai Chicken, as the name suggests, was cooked in a cream marinade. These succulent pieces of chicken dipped in the coriander-mint chutney...yum! Among the vegetarian options on the platter was the familiar Royal Hara kebab. But the taste of this spinach, veggie and roasted cashew nut patty was not what I have grown used to. A chef ’s twist, these had a bit of khoya in them. The milk solid normally used in Indian sweets gave the kebab a slightly sweet flavour. The Makhmali seekh was another introduction to me – cottage cheese and vegetable mince cooked on skewers. Even the lightly pickled, marinated in tandoori masala onions on this platter were delicious. They’re just onions, you say? Hey, it’s all about the details. The enthusiastic Sous Chef Jasikaran Gujral brought out The Calangute House Salad – leafy greens, slivers of avocado, water melon, pineapple, melon, papaya, toasted breadcrumbs, throw in together and elevated by raisins soaked in a red wine reduction. The palate refreshed, the Nasi Goreng came next. This sweet and spicy Indonesian stir fried rice – with a fried egg atop – is cooked in a sweet soy sauce (chef Jasikaran likes his Nasi Goreng a little more sweet than spicy), with finely chopped veggies and meats of your choice. This rice was served with prawn wafers especially exported to accompany this dish (those details

again). The chefs at Le Meridien serve this dish along with chicken satay and a peanut sauce, making it a filling course. We hardly swallowed the last bit of chicken, when we were served the Risotto Milanese. A risotto can very easily go wrong. It can be undercooked and unpleasant to eat or gluggy and heavy. This saffron-flavoured Arborio rice was creamy and surprisingly (pleasantly so) light. If you’ve never tasted risotto, I suggest you try this one first. Next came a roast chicken. Cooked sous vide style – in a plastic pouch or glass container on a water bath – this bird retained its moisture. Served with sautéed veggies and a creamy mash, this portion could feed two (unless you’re very hungry; understandably, we were not). Indian, Asian, European... these chefs can cook it all. But we were not done. Out came a Goan platter – mutton xacuti, vegetable peri peri, Goa rice, and the chefs’ take on the poie. The chefs can give themselves a pat on the back because this coconut gravy was redolent of all the robust spices that go into making xacuti an absolute favourite – the tender mutton was a bonus. By now, we had got food sweats (if you have eyes bigger than your stomach, you know what I mean) and dessert seemed like a formality. The dessert table had an array of pastries, all-things-chocolatey, fresh fruit, panacottas and puddings. This was a feast! While we ordered off the menu, the buffet has a number of options – six salads alone – and a variety of cuisines are represented. For `650 plus taxes (lunch) and `850 plus taxes (dinner), it seems like a steal. Warning: you may want to prep your tummy by eating light for a few days prior to your visit



NRB Group presents Business Goa Awards: Night of the business stars On April 15, 2018, the best and brightest of Goa’s business fraternity were feted at the prestigious NRB Group presents Business Goa Awards for Corporate Excellence 2018, held at the Goa Marriott Resort and Spa. The high-powered event saw entrepreneurs, businessmen and prominent citizens rub shoulders. That the Awards is only getting bigger and better was made evident by the presence of Chief Guest, Union Minister for Commerce and Industry and Civil Aviation Suresh Prabhu. The Union Cabinet Minister spoke of Goa’s potential to be the startup capital of the nation while also applauding the editor and publisher of Business Goa for being innovative enough to start a business magazine in a state that is largely seen as a tourism-oriented land. Felicitating 25 awardees across four different categories, the night celebrated the achievements of Goa’s prolific businesspeople. Institutions as well as individuals were honoured for their entrepreneurial excellence

Anil Counto

Sushant Tari

Nitin Bandekar

Dilip Salgaocar

Dr Pramod Salgaocar

V B Prabhu Verlekar

Pravin Zantye

Ralph de Sousa

Datta Damodar Naik

Jyoti Adwalpalkar

Sandip Bhandare

Rajesh Dempo

Nandan Kudchadkar

Parag Joshi

Vaishali Joshi

Mahesh Pai

Swapnil Kamat

Ricardo D’Lima

Vijay Kauthekar

Aakash Khaunte

Narayan Bandekar

Sumeet and Archana Bhobe

Dr Radhika Nayak 74 | Business Goa industry Dossier | april 2018

Vaibhavi and Vitthal Chopdekar

Atreya Sawant

Surendra and Ruth Furtado

Vivek Mendonsa

Suhani Mendonsa

Sujai Joshi

Cmde Sanjay Dâ&#x20AC;&#x2122;Cunha

Sheetal Pai Kane

Sunil Pai Kane

Lata Bhatkuly

Vikram Verlekar

Pallavi Salgaocar

Shefali Caculo

Gaurang Suctancar

Paresh Pai

Roana and Varun Albuquerque

Aniruddha Dempo

Dr Sangam Kurade

Nilesh and Sonali Amonker; Sayee and Rahul Naik

Dr Tosha Kurade

Sudin Naik

Ashutosh Kharangate, Souniya Khurana, Rahul Narvekar

Urvija and Harshvardhan Bhatkuly with Union Minister Suresh Prabhu

Pravin Pai Kakode

Manoj Rajani

Neha and Yogiraj Kamat

Neeta Rajani

Angelo Nunes

april 2018 | Business Goa industry Dossier | 75

Gaurish and Pratima Dhond


Sasmir Colvalcar

Rajesh Colvalcar

Abhijit Surlakar

Rohit Borkar

Rajesh Salgaonkar

Gaurish Dharwadkar

Shweta Desai

Udit Golecha

Denzil and Shalini Xavier

Prashant Kumar

Rajeswer Naidu

Gautam and Seema Amonkar

Marlene Menezes

Carlos Menezes

Satish Shinde

Nahush Joshi

Sanat Pai Raiturcar

Gajanan Karkare

76 | Business Goa industry Dossier | april 2018

Manoj Patil

Nitin Desai

Conrad Stephen

Doura Almeida Coutinho

Pradosh Amoncar

Sandeep and Sonali Verenkar

Rohan and Shruti Bhandare

D Kumar Pillai

Nitin Kenkre

Kanchan Desai

Ketan Kunde

Sammit Wagle

Shivani Sardessai

Dr Putturaju Rohan Khaunte

Monica Baria and Domingos Sousa

Gunjan Malviya

Sanjay Sardesai

Samruddh and Sadhvi Bharne Nikita Adwalpalkar

Ajay Sardesai

Vinesh Pikale

Yogesh Nadkarni

Gauri Nadkarni

Mangirish Salelkar

Pallavi Desai

Rajesh Kenkre

Lisa Menezes

Samira and Saleel Sheth

Rajiv Nevgi

Colleen and George Sequeira

Sonali Trivedi

Dr Sajal Dhond

Amit Palekar

Sairaj Dhond

Dr Pradeep Salgaonkar Priyanka Kamat Shetiye

Sanjeev Trivedi

Sheetal and Anand Palan

D S Prashant

Vineet Rastogi

Dhruv and Neha Madan

K K Sekhar and Muriel Sequeira

Vijai Sardessai

Lalita Joshi

Siddharth Goyal

Dr Milind and Dr Tejashree Colvalcar april 2018 | Business Goa industry Dossier | 77



Medha Pai

Prasad Pawar

Rashme Pawar

Edward Monteiro

Dr Astrid Monteiro

Arman Bankley

Varsha Pai Raikar

Varsha Bhandare

Amey Naik

Nath Laud

Shreyas Nadkarni

Nimisha Kamat Nadkarni

Daji Salkar

Shammi Salkar

Anant Navelcar

Siya Navelcar

Raakhi Karapurkar

Deep Karapurkar

Nitin and Seema Sood

Sapna Sardessai

Girish Sardessai

Kapil and Sonya Angle

Laxmi Bharne

Vartan Mathias

Vivin Mathias

Kishore M Shah

Dr Hemangini Shah

Chetan Malkarnekar

Jeetendra Malkarnekar

B V Kamat

Pradeep Sheldekar

Fauzia Shahid

Sangam Pai Dhungat

Raghuveer Vernekar

Elsa Vernekar

78 | Business Goa industry Dossier | april 2018

Suraj Lotlikar

Tulio de Sousa

Sanjay Bharne

Ramakant S Kamat

Emma Kamat

Dattesh Parulekar

Anurag Walavalkar

Annirudha Walavalkar

Balkrishna Kamat

Virangini Kamat

Devaki Naik

Parvish Andani Kamat

Rajesh Kakodkar

Sonal Kakodkar

Lata Parekh

Yatin Parekh

Leena Kamat

Ashma Kamat

Charudutta Rane

Swatee Shere Rane

Maithili Nadkarni

Rahul Nadkarni

Neha Naik

Rasik Naik

Gautam Verlekar

Tulasidas Pai

Asha Arondekar

Amol Arondekar

Soraya Makhija

Kabir Makhija

Bharat Kamat

Jennifer Lewis Kamat

Savio Ribeiro

Supriya Pilgaonkar

Vinayak Deshpande

Shreemi Pai Panandikar

april 2018 | Business Goa industry Dossier | 79


Tejas Ghanekar

Babuli Ghanekar

Ketan Angle

Ajay Grampoadhye

Venkatesh Kamat Maad

Shivanand Naik

Santosh Tari

Viraj Dhond

K Sudheendra

Aditi Shanbhag

Dr Jyotsna Nayak

Joseph Rodrigues

Gerard Dâ&#x20AC;&#x2122;Mello

Marianne Lobo Dâ&#x20AC;&#x2122;Mello

Manish Karapurkar

Shrivallabh Sardessai

Naveen Bodade

Cidalia Bodade

Kaif Noorani and Natasha Veljee

Ashish Prabhu Ajgaonkar

A K Banerjee

Rajiv Kulkarni

Samir and Gauri Falari

Anant Prabhu

Sonia Kamat

Prannoy Kamat

Ramesh Tiwari

Sharad Sardessai

Richa Sardessai

Tushar Kamat

Sandesh Kundaikar

Edward Fernandes

Nitin Kamat

Freida Meiselbach Albuquerque

Sachin Powar

80 | Business Goa industry Dossier | april 2018


Siddhant Sheorey

Noeline Mendonsa

Samidha & Yogesh Khandeparkar

Charlyne Weiss

Fiola Rego

Rozendo Mendonsa

Vikant Sahai

Siddharth Satardekar

Shradha Paroolkar

Nita Craven

Mandeep Pasricha

Ralph Craven

Kunal and Shraddha Shinde

Arnaldo Rego

(L-R) : Govit Morajkar, Annalise Gouveia, Meenal Bale, Anna Fernandes, Sandra Dias, Serilda Coutinho, Jonquil Sudhir, Ramrai Naik. Top: Aliston Dias and Samay Shetti

Sarita Chavan

Ruby Redkar

Gangaram Morajkar

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Mail this form along with payment drawn in favour of BUSINESS GOA to 409, Citicentre, EDC Patto Plaza, Panaji 403001 Goa INDIA Tel.: 91-832-2437822 Email: 82 | Business Goa industry Dossier | april 2018

NewsMakers Nitin Kunkolienker elected to CII National Council

Nitin Kunkolienker has been elected to the National Council of CII for the term 2018-19. Kunkolienker is currently president of MAIT – ‘Manufacturer’s Association for Information Technology’, India’s top business association committed to mission Digital India. The youngest and longest serving president of the Goa Chamber of Commerce and Industry, Kunkolienker is also the President of Goa Management Association. Kunkolienker; and is a member of the Governing Council and Director of Electronic Sector Skill Development Council of India; and a Member of the high level organising committee for Global Conference on Cyber Space (GCCS), which is headed by Union Minister for IT, Ravishankar Prasad. He is also vice president of Vidya Vikas Mandal and chairman of the Governing Council, G R Kare College of Law in Margao. Recipient of prestigious awards like ‘National Business Leadership’ award by the Economic Growth Society of India in 2013, Goa Management Association’s ‘Best Manager of the Year’ award in 2001, Kunkolienker has been a key speaker at Times Group’s Digital India Summit and at Delhi Economic Conclave 2014 organised by the Ministry of Finance

Rahul Shankhwalker of Studio HBA receives AD100 award

Studio HBA was one of the awardees at the recently concluded AD100 awards. Studio HBA specializes in cutting-edge design solutions for an wide international client base. The firm’s portfolio spans the world with projects in Israel, India, the Middle East, Southeast Asia, Australia, Maldives and Sri Lanka. Studio HBA is based in Singapore and has a well-supported network of efficient offices based in more than 18 different cities across the globe, in key regions: USA, the Middle East, Europe, China, Southeast Asia, Australia, Japan, and India. Founding partner of Studio HBA Rahul Shankwalker received the award. With more than 15 year of experience working in several disciplines of design, Rahul Shankhwalker has a significant body of global built work around the world, all of which embody his passion for design. AD100 is the annual architecture and interior design awards of Architectural Digest (AD) India, the ultimate design bible published by Condé Nast India.This year, the awards evolved from AD50 to AD100, recognizing 100 of the most influential names in architecture and interior design in the Indian subcontinent. This was done to account for the exponential increase in the standard of design in the region. Hosted by Kamal Sidhu, the glittering soiree was held at Grand Hyatt, Mumbai and saw the attendance of some of the best names from the fields of interiors, architecture, art, culture, fashion, and design 84 | Business Goa industry Dossier | april 2018

Honorary membership of CCMA conferred on Samir Surlaker

During the third edition of the International Conference of Suppliers to Construction Chemicals Industry of India (SCC), Samir Surlaker was conferred with honorary membership of the Construction Chemicals Manufacturers’ Association. The Association recognised Surlaker’s dedicated contribution to the industry over the past 40 years. Surlaker, a civil and structural engineer from VJTI, has over 40 years of national and international experience in concrete technology and construction chemicals. He is well published in national and international publications and is co-author of Handbook of Advanced Concrete Technology and is a member of various BIS Committees. He has received numerous awards for contributions to concrete technology (by ICI), and for his contributions as a concrete and CC Engineer

Pollock releases Heartfulness Way

The Heartfulness Way was unveiled in Goa today by co-author Joshua Pollock. The book gives the reader a peak into the Heartfulness techniques and principles which can be used to transform our daily lives. Penned by Kamlesh D Patel, widely known as Daaji, the fourth global guide of Heartfulness, and his student Joshua Pollock, a Heartfulness practitioner and trainer, the book has already been rated number one on Amazon and topped the Hindustan Times/Neilsen Bookscan Service charts for consecutive weeks. Joshua Pollock informs that the book is a dialogue between him and Daaji on the principles, processes of meditation, the meaning of spirituality and the importance of it in our lives

106 1. Which advertising biggie, recently resigned as CEO of WPP, a global advertising powerhouse that he built for over three decades? 2. Which online retailer advertises as ‘India ki Pharmacy’ 3. Which Indian company owns the brands Frooti, Appy, LMN, Hippo and Bailey? 4. Which beer was founded in 1989 by Karan Bilimoria and Arjun Reddy – who thought that Britain needed a smoother, less gassy lager? 5. This brand was incorporated on 15 October 1985 as the Helicopter Corporation of India (HCI), the country’s national helicopter company with the objective of providing helicopter support services 6. Which company was founded on January 25, 1964, as Blue Ribbon Sports, by Bill Bowerman and Phil Knight? 7. Identify the Italian designers Answers to BG Quiz 105: 1.Campbell 2. FedEx 3.Ben Cohen & Jerry Greenfield 4.Suresh Prabhu 5.The Furrow by John Deere 6.Heinz 7.Shobana Kamineni Email your entries to First all correct entry will get 1 year’s subscription to Business Goa

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Business Goa April 2018  

Read the NRB Group presents Business Goa Awards 2018 Special issue. Look at the best and brightest of business in Goa

Business Goa April 2018  

Read the NRB Group presents Business Goa Awards 2018 Special issue. Look at the best and brightest of business in Goa