Page 1

March 2018

VOL 4 ISSUE 3 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

Powerland ATV Industry

Gladson Mony starting young


goan brand

Lord Karan Bilimoria Interview

Lazy Goose Bon appĂŠtit

state budget

Major thrust on job creation

the government focusses on resolving unemployment

be my guest airsonic group

Pramod Rane is a trailblazer who has made his mark in the travel and hospitality sector

high performing ladies share their stories

News Views Articles Interviews Profiles Focus Analysis Opinions Events Features

contents Cover Story 14

First generation entrepreneur Pramod Rane has set the bar high in the travel and hospitality industry

Focus Goa 20

A detailed look at Goa State Budget 2018-19

Focus Goa 22

A ministerial panel has been given powers to grant approvals while the CM seeks treatment abroad

Women’s Day Special 24

We celebrate trailblazing women who have made their mark in the business world.

Starting Young 36

14 66

Keen to start a business from a young age, Gladson Mony found a winning formula with his Prudent Craft

Interview 38

Lord Karan Bilimoria, founder of Cobra Beer and a member of the House of Lords, speaks on issues affecting India and the UK

Goan Brand 42

Upgrade Enterprises Pvt Ltd (UEPL) manufactures epoxies, polyurethane, polyurea, PU-Krete and other related products


Industry 44

Powerland ATV hopes to introduce its all terrain vehicles in the European market

Professional Dossier 50

36 42

Manguesh Prabhugaonker has made his presence felt in Goa as well as Asia through his incredible work and expertise as a landscape architect


Hospitality 66

AccorHotels in partnership with the Alcon Victor Group launches ‘Novotel Goa Dona Sylvia Resort’, its fourth property in the booming market of Goan hospitality




Bon Appétit 68

Lazy Goose is a cozy restaurant by the River Nerul, serving gourmet delights

56 People Tree

61 Corporate Citizen

58 Beyond Classroom

62 HR Mantra

60 Letter from America

64 Economania

Kishore Shah highlights the importance of mentoring middle managers in order to master the skills they need to succeed

Pradeep Salgaonkar writes on the impact of content marketing in order to engage an audience Jay Dehejia addresses the question of how to negotiate salary and provides tips on how to obtain a good pay package

Daniel Albuquerque looks at how automation is good for youth to develop their careers R N Misra discusses whether canteen workers are employees of the contractor or of the principal establishment Dr Manoj S Kamat laments that lessons are not learned from cases of financial fraud

08 Editorial 10 Corpo Scan 46 AutoWorld 48 Campus 48 BG Crossword 49 Book Shelf 52 Events 54 Biz Bytes 65 Social Connect 67 What’s Up Goa 70 Goa Buzz 74 Newsmakers 74 BG Quiz 06 | Business Goa industry Dossier | MARCh 2018

editorial The world is our oyster

Harshvardhan Bhatkuly

Back in the days, when important business

of creating investment opportunities and a

personalities descended on Goa to speak at

robust economic environment are just er…

some forum or the other, throngs of people

slogans, have begun to live by the dictum ‘the

would attend the event. The reason behind

world is my oyster’.

this was that Goa, being a small city state or

There are Goan manufacturers who

Tier II as is known today, would rarely see big

have joint ventures with leading names in

names share their stories. So this was like a

their domain like aerospace manufacturer,

Urvija Bhatkuly

Haley’s comet occurrence for many Goans.

Kineco. There are manufacturing units like

Advisory Board

Cut to the scene today when you

Power Engineering of the Pai Kane Group,

automatically Google or YouTube people

whose focus on exports is gaining ground.

before you meet them, to check out their

New entrants in the pharma space, like NRB

credentials online. Being a great equalizer,

Pharma have created world class facilities in

the internet has created a level playing field

far-off Zambia by investing top dollar. GMI

across the nation. And, in many ways, the

Zarhak Moulders, which makes the Shakti

idea of small town is nebulous. Stretching the

brand of water tanks, has a manufacturing

argument, it is the people and their exposure

division in Pune. Similar is the case of Borkar

to life which makes a place small town or big.

Packaging, which operates a chunk of its

By that argument, we often find many ‘small

business from Daman and Himachal Pradesh.

town’ thinkers in the so called big towns.

Why the rant, you ask? Quite simply

been sourcing work from across the globe for

because I meet too many people who suddenly

a long time now. Some have even established

want to live and work out of Goa. Ironically, a

offices in more mature IT centres like

lot of them decide to leave their traffic-marred

Bengaluru and even in the United States and

and space-jarred existences in big cities


and head to Goa to lead a ‘chilled out’ life,

somewhere near a beach. But after humming

fabled to be, when it comes to entrepreneurial

march 2018 Editor & Publisher

Harshvardhan Bhatkuly Co-Publisher & Group Head

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

Similarly, the IT companies in Goa have

Goa is no longer the sleepy town it was once

and hawing for a few months, reality starts to

vision and ambition. Goans, once known to

Mayur Santinezkar Pritesh Naik

kick in. And it is time to search for work. The

excel as workmen across the globe, are now

quest for a job and pay that one would enjoy

providing employment in every global centre

Contributors in this Issue

in a metro is a far cry from what is available

that they establish themselves at.

in Goa. Many, after the initial disillusionment,

That said, there is a serious need to

start blaming Goa.

create a bridge to connect with the second

Distribution & Logistics

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

Business Goa

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

A few smart ones know the exact reason

generation of Goan Diaspora so that they can

they have made Goa their home – for the

explore trade and business in their homeland.

lifestyle. They keep their work and business

It is incumbent that they are brought in the

in more lucrative locales. And juggle their life

fold to invest in Goa or get into joint ventures.

and work seamlessly.

The thrust so far has been limited to cultural

But what some Goan entrepreneurs have

exchanges. When business is brought into

done is even more beautiful. By taking stock of

play, we will truly earn the right to call

reality and knowing only too well that slogans

ourselves global citizens

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

08 | Business Goa industry Dossier | march 2018



RIL wins arbitration case against Goa govt In a blow to the Government of Goa, the Anil Ambaniled Reliance Infrastructure Limited (RIL) won an arbitration award of `292 crore in its case against the Goa government. The case was heard by a Joint Electricity Regulatory C ommission-const itute d tribunal. On February 16, 2018, the Tribunal ordered the Government to pay Reliance by April 15, 2018. If they fail to do so, the Tribunal has ordered interest payment at 15% on the total amount per annum. The Tribunal proceedings began in January 2016 and were held for two years over 12 sittings. Arbitration was sought due to prolonged non-payment of dues by the Goa government. The government had not paid for

Mobile Food Testing Lab commissioned by FDA

‘Food Safety on Wheels’ a mobile food testing laboratory commissioned by the Directorate of Food and Drugs Administration (DFDA), was recently inaugurated by Chief Minister Manohar Parrikar in the presence of Minister of Health Vishwajeet Rane. The vehicle stands as a very effective means to carry out spot tests, analysis, awareness programs, and food safety surveillance. Open to the general public as well as food business operators, the services of the mobile lab include carrying out tests like screening of adulterants in milk, masalas, honey, detection of food colouring, analysis of packed drinking water, and so on. The food samples are to be submitted to the mobile laboratory while at camps at set up at various places in the state. Per sample, the fee of milk products for testing is `400, of packaged drinking water is `300 and other food items is `150

power supplied by RIL from 48 MW Goa power plant at Sancoale. The outstanding dues amounted to `278 crore, as on October 31, 2017. The Tribunal has also awarded Reliance Infrastructure interest from October 2017 till the date of the award, which amounts to `14 crore. According to a statement released by RIL, the Tribunal upheld the company’s contention that the rate of

energy for the period from June 2013 to August 2014 was based on the varying prices of fuel and dollar exchange rate as was agreed to by the Goa government. According to the statement released, “The contention of the Goa government that the rated capacity of the plant was to be downrated, right from the second year of operation, for calculation of fixed charges since the parties had already agreed against downrating in 2007, was rejected by the Tribunal.” In response to the order, the government is preparing to challenge the arbitration award. Power Minister Pandurang Madkaikar responded, “We are not happy with the arbitration award and we will challenge it before the High Court”

NIO discovers methane in river basin

National Institute of Oceanography (NIO), Dona Paula has discovered methane gas in the KrishnaGodavari basin. According to a paper published by the NIO, the methane gas could be used in the field of medicine. Reportedly, its bioactive molecules can be used in therapeutics and biotechnology. The study also revealed that methane hydrates are considered an alternative hydrocarbon energy reserve. This discovery will aid scientists in the field of hydrate research and development and unique biodiversity/ecology. Divulging how the discovery was made, NIO Director Sunil Kumar Singh said, “For the first time, a technique was developed and used in

10 | Business Goa industry Dossier | MARCh 2018

the Bay of Bengal and we have found active cold seeps and the methane gas which were bubbling to come up to the surface of the water from a depth of 700 metres. This was unknown till date.” “The estimate of the gas which has been given for the Indian exclusive economic zone is about 1,900 trillion cubic metres of gas hydrate; even if scientists are able to tap 10 per cent of the estimated gas, this could meet our energy requirement for the next 100 years,” he added. NIO used methods such as water column imaging, parasound sub-bottom profiler, and high resolution seismic and precise seabed sampling protocol on board ORV Sindhu Sadhana to locate the active cold seeps in suitable geological environments. This was how NIO scientists discovered several gas flares, which are tell-tale methane ebullition signatures

KTC to start appbased taxi service

Kadamba Transport Corporation Chairman Carlos Almeida recently announced that KTC will soon launch an app-based taxi service in the state to ensure safe and regular transport. Almeida said the Ola and Uber model would be followed, in which there would be tie-ups with existing taxi operators. Almeida revealed that the Corporation is planning on appointing a consultant to aid with this proposal. “Whether the KTC should operate taxis or not will be decided by the people and if the people want the system to be functional in Goa, then we would go ahead with our plan,” Almeida commented. He also added that there was no need for taxi operators to panic. “We don’t want the taxi operators to be displaced. KTC is for the betterment of the people,” he said. “The decision taken by the KTC is a well thought of plan. We will also consider the opinion of the state government in launching the app-based taxi service in the state,” Almeida divulged. “KTC would utilize our own staff and the bus stands,” elaborated Almeida and informed that further staff would not be recruited. He, however, asked that the existing taxi operators be part of the initiative. “The launching of an app based taxi service in the state is in the primary stage and not yet finalized,” added Almeida



Land mutation underway for IT Park at Chimbel

In response to a question asked during the recently concluded session of the Legislative Assembly, IT Minister Rohan Khaunte revealed that the government has completed 60% mutation of the 4.49 lakh sq mts of land earmarked for the proposed IT Park at Chimbel. “Mutation of land measuring 2.69 lakh sq mts has been carried out in the name of the Department of Information Technology, while mutation for the balance 1.79 lakh sq mts of land is in process,” revealed Khaunte on the floor of the House. Responding to a query on the status of the IT Park and the ESDM (electronic system design and manufacturing) electronic city at Tuem, Khaunte claimed that the master plan for Chimbel has been submitted to the Department of Town and Country Planning for

technical clearance in an area measuring 1.33 lakh sq mts. As far as the power and water needs are concerned, Khaunte informed that the IT Park will require a total electrical load of 63.45 MW; the electricity department has been asked to make provisions for power to be supplied. The electricity department has also been asked to shift a 33 KVA HT transmission line passing through the proposed land. The total water requirement for the Chimbel IT park is 4.7 MED and is set to be supplied through an overhead reservoir and underground sump. The Park will be developed in two phases with the first one to be developed as a startup village over 10 acres. Phase II is likely to be developed under a PPP model. With regard to the electronic city at Tuem, Khaunte said the proposal for land conversion for an area

measuring 3.92 lakh sq mts, of the total 5.97 lakh sq mts, has been submitted to the collector, North Goa. The Ministry of Electronics and Information Technology has approved of the electronic city and will be providing a grant-in-aid of `73.8 crore against the approved cost of `16.13 crore. Khuante also disclosed that 5000 sq mts land has been handed over to the electricity department and the PWD respectively for infrastructure work. However, the land acquisition for the road connecting the proposed electronic city to NH 66 was yet to be done. When asked about the companies that are likely to set up in the Park, he revealed that companies Aequs, Optel Vision, GIT Electronics and Smartlink Network Systems have shown interest in setting up units in Tuem

Goa MLAs petition Centre to resolve mining crisis

An all-party delegation from Goa led by Minister for Public Works Ramakrishna Dhavalikar recently met Union Minister for Shipping Nitin Gadkari and Union Minister for Coal Piyush Goyal seeking intervention by the central government in resolving the mining issue. According to sources, both Union ministers assured Dhavlikar that a solution would be found. The delegation travelled to meet Gadkari on March 5 and submitted a memorandum to him regarding the mining

debacle. The delegation also asked that the date to implement the Goa Concessions Abolition Act, 1957, adding that the Act may be made applicable from 1987 instead of 1961 so that leases will get 20 more years of life. “The Centre should issue an ordinance stating that under the Goa, Daman and Diu Mining Concessions (Abolition and Declaration as Mining Leases) Act, 1987, the appointment day means 28th day of December 1961 be read as the date of assent (1987),” the memorandum stated. An all-party delegation consisting of senior minister Dhavalikar, Health Minister Vishwajit Rane, Legislative Assembly speaker Pramod Sawant, BJP MLAs Nilesh Cabral, Rajesh Patnekar, MGP MLA Deepak Pauskar,

12 | Business Goa industry Dossier | MARCh 2018

Sanguem MLA Prasad Gaonkar, Congress MLA Nilkanth Halarnkar and MP South Goa Narendra Sawaikar met Gadkari and explained the circumstances and situation prevailing in the state. At the meeting with Piyush Goyal, leader of opposition Chandrakant Kavlekar also joined the delegation. Goyal was informed of a possible crisis if mining activities are shut down in the state. During the initial meeting, Goyal told the delegation that they could face legal repercussions if decision is taken in favour of mine owners. However, after some time, he again called the members of the delegation to discuss the mining issue. After many rounds of meetings, the delegation was told to return at a later date to meet with Prime Minister Narendra Modi and Union Minister for Mines Narendra Singh Tomar

Agonda beach #1

Agonda beach in Goa has been ranked number one in the Asia list of the annual Travellers’ Choice awards for beaches. A total of five Indian beaches featured in the Asia list of Traveler’s Choice awards for beaches. The other beaches listed were Radhanagar Beach in Andaman and Nicobar Islands (at number 4), Benaulim (15), Mandrem (18) and Palolem (20). The Travelers’ Choice awards for beaches are constituted from reviews to booking on travel site Trip Advisor. Renowned for its three kilometer-long white sand beach with cozy shacks and a breeding site for sea turtles, Agonda beach has also featured at numbers 18 on the top 25 beaches in the world. It has also topped the list of 25 best beaches in the country. Grace bay, Providenciales, Turks and Caicos has been named the world’s best beach followed by Baia do Sancho, Fernando de Noronha, Brazil; Varadero beach, Varadero, Cuba; Eagle beach in Aruba; and Seven Mile beach, Cayman Islands. “It is particularly exciting to see Indian beaches rising in prominence globally, which is clearly evident with Agonda beach taking the top spot in Asia and making it to the global list as well,” Trip Advisor India country manager Nikhil Ganju beamed. He averred that this would attract travelers to the country



ard work has never stopped Pramod Rane from thinking big or creating a business empire with next to nothing in his pocket. His career trajectory has been one of spotting a business prospect, and putting his whole focus into that window of opportunity. No doubt, a courteous nature, honesty, diligence, and a very transparent personality have helped him create a robust business in the travel and tourism space. In quest of a career in travel and tourism As a lanky young lad, set to graduate from Chowgule College in 1976, Pramod Rane took up a job as field officer at Goa Finance Trading

14 | Business Goa industry Dossier | MARCh 2018

be my guest airsonic group

Pramod Rane is a trailblazer who has made his mark in the travel and hospitality sector By harshvardhan bhatkuly

Company while he waited for his final year results to be announced. His performance in a few weeks was so admirable that, in a couple of months, he was promoted to the post of area manager. Young and restless as he then was, his hunger for sales was spotted by Dr P R Redkar who owned a travel agency, Suvina Travels, in Margao. Dr Redkar offered Rane the position of manager. In a short span of five months, Rane generated significant business on airlines like Air India, British Airways, Swissair and others; and could work out tickets for his clients like few could, back then. His enterprise and industry was noticed by the top brass of British Airways

In 1979, Pramod Rane was also one of the two British Airways’ employees selected from India to attend a two-month course at the headquarters in London; and completed the course by topping the class. “My photo appeared in the London Times and, understandably, I was on top of the world,” says Rane and he was offered a role in the British Airways general sales agency (GSA) office in Goa. “In those days, there were no computers and spreadsheets to work on. Ticketing rates, discounting and calculations

had to be done manually… and fast. I learnt this art of ‘fare construction’ quickly and enjoyed the confidence of my bosses at British Airways,” says the soft spoken Rane. In 1979, Rane was also one of the two British Airways’ employees selected from India to attend a two-month course at the headquarters in London; and completed the course by topping the class. “My photo appeared in the London Times and, understandably, I was on top of the world,” says he. Soon, Rane found himself in the Bombay office as a 26-yearold in charge of a special division created to cater to corporate business. In those days, the hegemony of travel agents over corporate clients

was impenetrable. Rane created a network of over 300 new agents, who brought in corporate business for British Airways. This earned Rane the ‘Highest Sales Performance Award’ for five years on a trot. The confidence in Rane’s abilities led to him being given the reins for the Maharashtra and Gujarat business for British Airways. Offices were set up in Ahmedabad, Baroda, Surat and Pune. Rane also cultivated a wide network of influential people in these cities and in Bombay due to his ability to get them tickets to fly international routes at short notice. In those days, things were a far cry from what it is today. “People doubted the success of British Airways when we opened

MARCH 2018 | Business Goa industry Dossier | 15


up in Gujarat; but it was a great success and a bridge for merchants and industrialists to travel internationally.” In 1990, Rane applied for GSA representation of Northwest Airlines for Western India. During the presentation in Tokyo, the Northwest management was so impressed with his achievements with British Airways that they offered him the opportunity to represent the entire country. Northwest Airlines was then ranked second in the world, with its head office at Minneapolis, USA. Rane managed the operation as managing director with 11 branches and a staff of 250 people. During this tenure, he had the privilege of visiting most countries in the world. Master of his own fate “Lack of finance was the only hurdle that stopped me from starting my own venture earlier. As I am a first generation entrepreneur, and grew up in a license regulated era, entrepreneurship was not as fashionable as it is today. In 1988, I started Airsonic Travels, a travel agency which has slowly grown as one of India’s leading IATA Travel agents, specializing in leisure and MICE business. Airsonic has expanded its presence in all major cities in India, becoming the most reliable brand in the corporate world. “We were one of the first


La Cabana Beach and Spa is a popular beach wedding destination venue favoured by international groups as well as Indians

companies to focus on MICE tourism and successfully carried several groups to Goa, Europe and other parts of the world. We were pioneers in starting ‘Holy Land’ group tours to Israel from Goa and successfully carried more than 2000 passengers to Israel in a short span of time,” says Rane. Over the past two decades, Airsonic Travels’ main focus has been to design inspirational travel experiences for customers, moving beyond the ordinary to seek new areas, avenues, ideas, and life-changing customized journeys. Today, Airsonic is a brand name synonymous with the travel and tourism industry. Airsonic guarantees customers specialized and innovative holiday solutions. Under the leadership of its founder, the company has established itself as a provider of superior quality tailormade offerings, satisfying customers across the country and overseas. Making an impact in Australia His first international stint came in 1996 when the Australian Deputy Prime Minister visited Mumbai. The island nation was keen to issue business visas to Indians to develop trade and commercial links between

16 | Business Goa industry Dossier | MARCh 2018

the two countries. Rane was presented with the opportunity to establish an office in Australia. In 1997, Rane opened his office in Sydney. In 1999, Airsonic Australia (Sydney) bagged the ‘Best Corporate Travel Agency of Australia’ Award. Rane inked agreements with the Government of India to jointly market various states like Goa, Kerala, Rajasthan, and Gujarat to promote travel for Australians in India. “We opened up various exotic locales like Goa, Kerala, the golden triangle, to Australians who had never heard about these destinations,” says Rane. Working closely with the Australia India Chamber of Commerce, of which he was an executive committee member for over eight years, Rane played a pivotal role in promoting a business relationship between Australia and India. He was instrumental in inviting a Goa Tourism delegation to Australia in 1999 to work closely with Australia in tourism and other areas. In fact, such was Rane’s influence in the travel business that he was a state invitee from Australia for the ‘Vibrant Gujarat 2006’ conclave that was organized by then chief minister of the state, Narendra Modi! Rane also facilitated

various trade, industry and state delegations to Australia and other parts of the world. He was awarded the prestigious National Platinum Tourism Award by Tony Abbott, then prime minister of Australia, on August 19, 2004 at a ceremony attended by industry leaders, Members of Parliament and ministers. Rane has also been named ‘INDUSTRY LEGEND’ by the Australian Tourism Awards, and been awarded the coveted Gold Medal by the All India Achievers organization. Hospitality beckons The eventual goal for most high performers in the travel and tourism space is to own their own hotel. Rane harboured similar ambitions, but could not give wings to them due to paucity of funds to create a hospitality venture like the one he had imagined. But astute in his investments, he had purchased a lovely beach side property at Ashvem, Morjim way back in 1985. “I fell in love with this lovely beach-facing piece of land. And even though I had no funds and the property had no approach road then, something made me buy it. It took me a very long time to put my ambition to action, but I am happy that I did it,” reflects Rane with great satisfaction. Rane’s desire to start



Pramod Rane receiving the ‘Best Corporate Travel Agency of Australia’ Award for Airsonic Australia from then prime minister Tony Abbott

a beachside resort began taking shape in 2011. La Cabana Beach and Spa started operations in January 2012. A popular destination, the resort is renowned for its exclusive beach, and modern facilities synthesized with relaxation and comfort, a combination often sought but rarely achieved. Blending perfectly with the natural beauty of the beach area, this secluded hideaway offers a great selection of tastefully decorated wooden cottages, beach-facing villas, and luxury tents. La Cabana Beach and Spa at Ashvem, with 51 tastefully curated rooms, is today one of the biggest beach wedding destinations in the state. From catering to international groups to the ‘Big Fat Indian Wedding,’ La Cabana does it all, and does it in style. “We cater to a market that is eclectic. From Europe to USA and Jains, Punjabis, Gujaratis and global citizens, La Cabana is a preferred destination for many to share their vows,” says Supriya, Pramod Rane’s wife and Director, Operations at La Cabana. The décor, access to the beach and the expansive nature of the resort have all led to making the resort a winner from day one. These, in addition to the hospitable virtues the Ranes have brought to their business. In fact, La

Strong business acumen, clear communication, being thoughtful in approach, building trust and relationships and a ‘get-stuffdone-attitude’ has helped us achieve our dreams,” says Supriya Rane on how they

for weddings and convincing the parties involved to comply within set time frames fixed by statutory bodies. To add to it, NGOs have been filing cases that have led to a lot of litigation. A lot of time is thus wasted in meeting and convincing officials that our activities are within the purview of the law,” he says. La Cabana has proudly hosted yoga groups, music festivals, corporate events, seminars, team-building events, staff picnics and reunions besides being a sought-after venue for Bollywood, Tollywood and TV serial shoots. Future plans Pramod Rane is bullish about his business – niche, custommade hospitality. He plans to expand into medical tourism

“Converting Pramod’s dream into a reality was the biggest challenge as both of us do not come from the hospitality industry. We had to quickly learn and constantly deliver better results every year. My corporate background helped navigate issues and build client relationships and team cohesion”

supriya rane

Cabana has hosted close to 50 weddings this season itself. “Turning Pramod’s dream into reality was the biggest challenge as both of us do not come from the hospitality industry. We had to learn quickly and constantly deliver better results every year. My corporate background helped navigate issues and build client relationships and team cohesion. Our main focus is to bring our team members and managers along on the journey, to learn and adapt to the ever-changing competitive world. I have tried to absorb some of the responsibilities and continue to develop and manage our efficient team led by our capable GM Harihar Mhamal. The positive feedback through reviews from our clients is overwhelming and consistent.

18 | Business Goa industry Dossier | MARCh 2018

have developed and grown in the hospitality space. Of course, setting up a resort is no easy task, and the challenges that come with it are inevitable. Speaking of the numerous day-to-day obstacles faced, Rane says, “It was a mammoth task to get the initial groundwork, licenses, and bank approvals in place, to set the ball rolling. Electricity fluctuations, water shortage, technology issues, are some of the daily challenges.” Even the most challenging obstacles were weathered with Rane’s trademark resilience, and the cooperation of his management team. “The attitude of different officials at different places is also one of the biggest challenges in the business. It is very frustrating to arrange sound permissions

by setting up a state-of-theart health and wellness resort in association with GIOSTAR from San Diego, USA – with a vision to provide stem cell-based therapy to people in India suffering from degenerative, genetic diseases and traumatic conditions. “The government should be more supportive towards home-grown enterprises. We can do so much more to generate local revenues and create employment,” says Rane. Pramod Rane’s business idea is to look for innovative concepts that customers would love. It’s a very simple thought process that relies heavily on execution and the last-mile challenge. Over the years, this has been finetuned into an art by the Rane couple


Locals complain about Baga-Sinquerim shacks


Residents in the tourist-heavy coastal belt from Baga to Sinquerim are upset over numerous illegalities in the functioning of beach shacks in the area

ocals of the Baga-Sinquerim coastal belt have expressed concerns over activities of beach shacks in the area, pointing out that they often operate beyond the permitted time limit, activities that the authorities have turned a blind eye to, in spite of blatant violation. Some shack owners have leased their shacks to tourists, claimed a local shack operator, adding that this was against the shack policy. He went on to say that since the shacks have been leased out for huge sums of money, the outsiders were resorting to all kinds of activities to make up for the cost. The shack operator further claimed that illegal activities in such shacks range from drug peddling to gambling which happens from midnight till dawn. Besides these, he said, massage service and prostitution also form part of these businesses. The locals also expressed their grievances about loud music being played till the wee hours of the night, in spite of the deadline being 10 pm. Tourism director Menino D’Souza responded to the matter saying, “As per shack

policy, the shacks have to wind up their operations by 11 pm. Some relaxation can be considered, but it should not be a daily occurrence. The department has got information about nefarious activities going on after midnight at the shacks. Loud music is played beyond the permissible time-action will be taken.” According to Calangute Police Inspector Jivba Dalvi, this year, there have been more than 700 cases booked of thefts in the night at the Calangute police station. “Although there have not been any 24x7 strict police bandobast at the beaches, there are 70 constables and three PSIs carrying out duties from Baga to Sinquerim, working in two shifts from

9 am to 6 pm and 6 pm to midnight,” he said. “If the government instructs us to do 24x7 duty, the police are ready to do it.” Sarpanch of Calangute Panchayat, Anthony Menezes stated, “The village is popular because of the beach, but we cannot have 24x7 tourism activities including nightlife in a residential area.” Ex-sarpanch Geeta Parab stated, “We need to think of our children. Nightlife in the name of tourism will have a bad influence on the children.” Calangute parish priest said that youth are getting affected due to nightlife and senior citizens are not able to enjoy sound sleep; even school-going children are facing problems from loud music. A local said, “All activities are happening at some shacks at late hours as the shacks cannot survive just by offering food and drinks. Tables are laid out for candlelit dinners and children are found selling wares till 1-2 am. In Baga, some shacks operate 24x7.” While the Deputy Collector permits the playing of music till 10 pm, the Excise Department has issued a license for a curfew of 11 pm, and an extension of curfew to 2 am that will be issued after paying an additional fee

Ministerial Panel to take charge in CM’s absence

While Chief Minister Manohar Parrikar seeks treatment abroad, a three-member panel comprising of Ramakrishna Dhavalikar, Vijai Sardesai and Francis D’Souza has been empowered to make vital decisions oa Chief Minister Francis D’Souza, taking These proposals will also Manohar Parrikar crucial decisions, where funds have a direct consultation recently left for the United need to be allocated. with the ministry concerned. States for advanced medical For the next six weeks, All reports will be updated treatment. Acting on the Parrikar will attend cabinet to the Chief Minister weekly. advice of his doctors at meetings through video However, there is no clarity Mumbai’s Lilavati Hospital, conference, confirmed at the senior official level the 62-year-old Chief officials. According to sources, whether the Chief Minister Minister decided on further files of all ministries will come has given other administrative medical treatment after being to the ministers’ committee, powers to the three-member unwell for weeks. Prioritizing only where urgent redressal of ministerial committee, or Manohar Parrikar the future of the state before state funds is concerned. The how the state administration he left, the Chief Minister is instructions on urgent and three-member ministerial will function in this regard. reported to have met Chief important matters before committee will look into The new system of Secretary Dharmendra the government. During this proposals and have temporary constituting the ministers Sharma as well as Principal interaction, Parrikar also powers to sanction any work committee to look after the Secretary to the Chief Minister spoke about the formation order up to `5 crore. affairs of the state in the P Krishnamurthy at his of All ministers will have absence of the Chief Minister the three-member residence and discussed the committee consisting of powers to approve proposals is a fairly new concept that government’s administrative PWD Minister Ramakrishna costing up to `50 lakh. Till has never been done before. functioning in his absence, Dhavalikar, date, the ministers had the The officials too are perplexed Agriculture till the time he recovers. The Minister Vijai Sardesai and financial power to sanction as to how to work under the two bureaucrats were given Urban Development Minister proposals of up to `5 lakh. new dispensation


20 | Business Goa industry Dossier | MARCh 2018


Goa State Co-operative Bank back on track


oa’s Apex Co-operative Bank has, after many years, returned to operating with fiscal prudence. The empowered committee, which was given charge of running the affairs of the Bank, has communicated that Goa State Co-operative Bank will not depend on government support for the moment. V B Prabhu Verlekar, senior chartered accountant, under whose leadership the entire empowered committee was established, has focused on recovery of dues and costcutting measures in the short time that he has been in charge. A total of 316 suits to recover money were filed by the bank in various courts across the state. A loan amount of `7.35 crore has been tied up in these cases. Besides that, `44.24 crore is due from 221 borrowers. This

matter has been taken up by the bank before the District Magistrate. Some instances of auctioning of mortgage property are also pending.

Considering the bank’s progress, the CM has committed `15 crore to it. According to V B Prabhu Verlekar, in the next year, the bank will post a minimum of `20 crore profit. The bank will depend on government support, but not on government funds. The bank currently has `1800 crore deposits, of which `1000 crore has been given as loans. On an average, per week, the bank is reported to be sanctioning `10 crore loans with the scale of NPA set to come down from 10 percent to 8.9 percent. The net percentage of the same is said to be 5.6 as of now. Three branches are said to have touched NPA level 0, whereas the ratio of deposits to advance is said to have seen improvement.

Auction notices have crore every week. This been served on certain is done in a transparent borrowers. The auction manner, following all is the last resort for norms of lending. In many banks; this has order to increase the been initiated by Goa bank’s revenue, plans State Co-operative are afoot to rent out Bank. The empowered V B Prabhu Verlekar the conference hall on committee under Verlekar has the top floor of the corporate started work on a transparent office at Patto. and clean slate. They have Similarly, an initiative been supported by various to spruce up the branches managers and staff across across the state is underway, the state. As a result, over the beginning with the Taleigao past five months, the bank has branch. Eight trucks full of been able to wipe out NPA scrap material have been from three branches of the cleared across branches, bank. These branches have freeing much wanted space in been awarded `10,000 as a the premises. cash prize for their efforts. This is a sterling example With regard to employee of how ailing financial issues, various show cause institutions can turn around notices which were served their fortune by appointing ;and stalling of increments right-thinking and selfless have been handled effectively individuals. The new MD by the empowered committee. Anand Chodankar has played Today, the bank advances a vital role in the bank’s an average loan amount of `10 turnaround

MARCH 2018 | Business Goa industry Dossier | 21


Major thrust on job creation

Though the focus of Budget 2018 is to generate employment, concerns have been raised about the lack of a systematic approach to do so



he Government of Goa has been focused on resolving the unemployment problem in the state for a while now. The budget 2018-19 exercise appears to be another step in that direction, laying maximum emphasis on job creation for locals. Chief Minister Manohar Parrikar made an unexpected appearance in the Legislative Assembly to table the revenue surplus budget, projecting a surplus of `144.65 cr. This was the fifth successive revenue surplus budget by the BJP-led government. The total gross budgetary expenditure stands at `17,123.28 crore as against `16,027.01 crore for the year 2017-18, highlighting an increase of 6.84% over the previous year. The budget made no mention of schemes or any other tax announcements. The government’s five months vote on account budget is estimated to be at `7,134 crore. As per a statement released by the government, the total estimated expenditure on Revenue Account is `11,795.40 crore, while the expenditure on Capital Account is `4216.25 crore. There is an increase in the allocation for Capital Account expenditure, by 10.70% compared to the revised estimate for the last year, which stands at `3808.72 crore. Spotlight Since employment generation is the focus, budgetary allocations are greater in sectors that can generate jobs – Industry, Labour and Employment & Information Technology. This stands at `548.89 crore. Similarly, a total of `2442 crore has been allotted for education, which includes medical education. Dr P K Sudarsan, Head of Department, Economics, Goa University opined that if the budgetary provision of six percent of GSDP on education sector is fulfilled, it will be a landmark achievement and can make Goa a model state. “The emphasis on education sector, by way of higher allocation, will have a multiplier effect on the overall economy. Investment in education is a basic ingredient in the development process of an economy. Therefore, this budget is a development-oriented budget. It aims to bridge the gap between academia and industry with a focus on skill formation, entrepreneurship, self employment and job creation.” 22 | Business Goa industry Dossier | MARCh 2018

money for IT, but it is not clear how they spent last year’s allocation. Getting IT companies requires a systematic approach, which our government does not have. There is also no concerted effort to get manufacturing companies. Under the current circumstances, it looks like the government will fall back on mining and casinos,” Kelekar said. Further claiming that the government lacks out-of-the-box thinking, Kelekar said, “Recently, the Karnataka government commissioned the world’s largest solar plant where land has been rented from farmers. The Goa government could have done something on similar lines, but they are not interested,” Kelekar added.

This was the fifth successive revenue surplus budget by the BJP-led government. The total gross budgetary expenditure stands at `17,123.28 crore as against `16,027.01 crore for the year 2017-18, highlighting an increase of 6.84% over the previous year Dr Sudarsan endorsed the government’s decision on doubling of expenditure on Industries, Trade & Commerce, Labour and Employment saying, “It appears that the budget has followed a targeted approach as a part of a long term strategy. Labour is an input to all productive activities, be it goods or services. Long term growth of the economy depends on the availability of skilled manpower.” Mangirish Salelkar, president, Goa Technology Association questioned the incremental IT outlay, “There is still no detailed clarity on how the budget allotted for the IT industry is to be utilized. When they say it’s towards employment in this industry, do they mean they will set up schools to make students industry ready by the time they graduate? Or will they give subsidies to IT & tech startups and companies in order to generate employment opportunities?” Salelkar is waiting for the upcoming IT policy to provide answers. Raising a similar query, Samir Kelekar, IT entrepreneur, wonders how a steep increase in the budget without a planned strategy in place, will revive the industry, “They have slotted more

Concerns It is unknown whether the government has considered the Apex Court’s direction on canceling mining leases in the state before formulating the budget. Prakash Kamat, senior assistant editor, The Hindu, Goa, says, “Tourism allocation has invited flak from the stakeholders who feel that a nine percent increase is too tiny for the industry. Tourism is taking the burden of the state economy when mining is in a total mess.” Kamat revealed that CM Parrikar, in an informal chat, had spoken to him about the resolution over the Supreme Court’s decision and had clearly stated that, there was no requirement for any special packages as his government had plans to handle the interim situation till mining resumed. “Unfortunately, he fell ill and this could not happen. In that sense, the state economy is in a sort of crisis, no doubt about it,” Kamat admits. Dr Sudarsan comments, “Increased expenditure on the education sector will have its impact on the tourism sector too, in the short run as well as long run. Skill formation and entrepreneurship will help the tourism sector in the long run. May be in 2-3 years, we may see a budget which will target the tourism sector.” Ahraz Mulla, NSUI Goa State President, raised concerns about the government’s focus, “Unemployment has been the biggest issue in the country. We were promised a start-up policy, but nothing has been reflected on the ground so far. All the false promises of focusing on employment is clearly another jumla. We have been hearing this for the past six years, but nothing has been done to solve


this issue.” Mulla further comments, “A large number of students who study engineering and are pursuing a future in the mining industry will have a big question mark on their face. The Chief Minister should come up with a constructive solution for this as well.” Key Stats The budget witnessed a significant increase in allotment for Sports and Youth Affairs with `283.06 crore allocation over the previous year’s revised estimate standing at `201.29 crore. Budgetary allocation for health for the year stands at `1002.16 crore. An outlay of `241.55 crore has been made for panchayats and rural development, up from `192.20 crore in the year 2017-18. Tourism sees an allocation of `219.53 crore, a meager increase of `19.59 crore from the previous year. Budgetary expense for Social Welfare including Women, Child and Tribal Welfare stands at `1091 crore, as against `974.74 crore allocated in the year 201718. `2922.36 crore have been set aside

for Public Works, Water Resources and Infrastructure, showing an increase of `143.39 crore from the past year. Electricity and Non Conventional Energy has been budgeted at `2203.61 crore. Budgetary provision of `423.40 crore has been made for Municipal Administration. `453.49 crore has been allotted for Agriculture, Animal Husbandry & Vet Services, Fisheries & Forest, with a rise of `40.85 crore from the previous year. According to the Economic Survey of Goa 2017-18, tabled in the Assembly, the GSDP for the year 2017-18 is provisionally estimated to be `70267 crore. This year, Goa witnessed a 10 percent growth with GSDP estimated at `77171 crore. Public debt receipts stood at `1769.22 crore, resulting in a fiscal deficit of `763.68 crore (nominal). The primary deficit is estimated at `(-) 608.46 crore. The total public debt (progressive) is estimated at `13937.37 crore, which represents a public debt to GSDP ratio of 18.06 The state is reeling under various crises such as severe unemployment, the mining shutdown, declining tourism

“There is still no detailed clarity on how the budget allotted for the IT industry is to be utilized” Mangirish Salelkar

President, Goa Technology Association

Prakash Kamat

Senior Assistant Editor, The Hindu

“Tourism allocation has invited flak from the stakeholders who feel that a nine percent increase is too tiny for the industry”

industry, etc. Goans expect a pro-active government to step in and take action to turn things around. Although the budget shows its intention to resolve some issues, it is ambiguous on others. It also highlights the fact that promises made in previous years are yet to be implemented

MARCH 2018 | Business Goa industry Dossier | 23

Special Feature



omen have come a long way from being just a homemaker. Women have always been able to multitask, but now they are handling family life as well as a successful business empire with dexterity and skill. The women entrepreneurs of Goa are chartering unknown territories unabashedly and fearlessly. Be it in education, travel, fitness, and anything and everything under the sun,

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they are proceeding with gumption and unbridled fervour towards changing the world. To celebrate today’s most influential female trailblazers, we’ve compiled a list of top female entrepreneurs to watch this International Women’s Day! These entrepreneurs are striving to effect social change and change the way of business for the next generation

Archana Bhobe CEO, Snip Salons & Spas


and scrapbooking. rmed with a diploma in Fashion Technology and well established in her career as a qualified fashion “Inspiration is “I’d rather be on a plane – inspiration designer with an eponymous store which garnered everywhere; a sizable client base over eight years of its operation, seek it, find it” is everywhere; seek it, find it,” she says Archana Bhobe noticed a potent market in the luxury with the calmness that only salon segment of Goa. someone who has climbed Thus, Snip Salon and Spa, today one of Goa’s top spas, was the flight of success one born. With classy interiors, and a comfortable ambience, the spa stair at a time, can say. and salon, has been promoting luxury wellness since 1999. From By marrying the usual pedicures and manicures, to the more exotic body creativity with a deep scrub and luxury massages, the spa takes care of every need. The entrepreneurial prowess, idea of introducing a salon of such elegance to Goa was incepted Archana Bhobe has when Archana, along with her husband Sumeet, noticed how seamlessly converted the grooming and wellness space had evolved in other parts of her vision into India and the world. extraordinarily Archana’s background, expertise and experience in the profitable realities. fashion industry came enormously in handy when building Snip Financial pundits as a luxury brand. It is through her vision that Snip was created as say “Don’t mix a chic, upbeat hair salon and day spa offering truly international business with hair and beauty services in a stylish, modern environment. Style e m o t i o n ”. is an essential part of the experience at Snip Salon and Spa. From Archana begs the uniforms of the staff to the products used, it’s safe to say that to differ; Snip is the epitome of style and quality; and it can all be credited according to to Archana. her, business Archana Bhobe is indeed a major voice of style in Goa. is emotion Seamlessly bringing her trendsetting vision and extraordinary style as a fashion designer into the salon and spa domain, Archana reveals that her inspiration comes from travelling 24 | Business Goa industry Dossier | MARCh 2018

Dessert Diva

Pallavi Salgaocar CEO, Desserts & More


allavi Salgaocar is the epitome of strength, fortitude and multitasking. A chartered accountant by profession, Pallavi is the Executive Finance Director of Geno Pharmaceuticals Pvt. Ltd, and director of the Bicholim Urban Co-operative Bank. She is also a member of GCCI Woman’s Wing, a BNI member, and an active Rotarian of the Rotary Club of Panaji Riviera. However, perhaps the most significant of her many responsibilities is her baking venture, Desserts N More. Having started with baking as a hobby, Pallavi was successful in transforming her interest and skill in baking into a full-fledged business. Four years ago, she took the plunge to turn her passion for desserts into a viable business. Pallavi spent a lot of time and effort on branding and market classification. Divided into three segments – Desserts N More, Desserts N More Premia and Wedding Bells – the ventures retail as a part of the bakery division of Geno Pharmaceuticals, named ‘Dainty Delights’. Under her guidance and leadership, Pallavi’s brand Desserts N More has gained a reputation for its top-class quality of desserts, pastries, savouries, cookies, and over the years, has

Head held high


andra Fernandes is a name that requires no introduction in the hotel industry. Director of Menino Group of Hotels, Sandra and her staff have worked very hard, and this has helped them build a strong portfolio for their organization and maintain an impeccable image in the hospitality industry. The Menino Group comprises of Hotel Menino in Ponda and Menino Regency in the heart of Panaji. Being a hands-on boss and possessing a strong will-power, along with a penchant for discipline, has taken Sandra and the Menino Group to the heights of success. From managing both hotels, to being a lecturer, like a true entrepreneur, Sandra seamlessly juggles multiple roles in society. She has also being the PastPresident of The Inner Wheel Club of Ponda and has undertaken many projects for the upliftment of women and children. A hands on entrepreneur she is involved a lot in running of both the properties from designing menus to catering to big events at the hotels. She has also gone above and beyond in organizing Christmas Parties and different competitions for the under privileged children. A freelance journalist, she has published many articles in newspapers over the country. Sandra is a Lecturer

expanded its presence across four outlets – the manufacturing and factory unit in Karaswada, an outlet at Caculo Mall in Panjim, one at the Mall de Goa food court in Porvorim and one at Elite Towers, along the Mapusa Court slope. Pallavi is proof that there is no substitute for hard work. Having a strong understanding of her brand and the products offered and constantly being on top of the new trends in the industry, Pallavi is redefining the world of desserts in Goa. Pallavi feels there is no difference between a male and female entrepreneur, “The effort of being an entrepreneur is the same. But I guess a female entrepreneur needs to multitask more with home, family and career.” As far as challenges are concerned, Pallavi finds manpower difficult to manage. “In the beginning, it was difficult to get a good team together, now I have a great team who work coherently and with the same passion that I have for this business. Also, for someone who multitasks so much, management of time is a major challenge, especially as I have a young son who needs my time”

sandra fernandes Director, Menino Group of Hotels

in Business Studies, Economics and Commerce at Sharada Mandir Higher Secondary School and is also the Coordinator of the Higher Secondary Section. She is also a visiting lecturer in Business Economics for B.B.A at M.E.S. College, Vasco. Elocution being her fort, she trains students for different competitions. Sharing her success mantra, she says, “Accept challenges as they come and see them as opportunities for growth. Let go of the past. Praying and meditating is an effective way of getting rid of stress.” With Sandra’s strong vision and a mission

to improve every second, Menino is fully geared up to set new records in the hospitality industry. When asked what it takes to become a successful woman, Sandra says, “A successful woman in business always has the power to maintain a positive attitude. When the going gets tough, tough women get going. As a woman entrepreneur, I have got the chance to provide opportunities to women. Here, I must say age is just a number. There are ladies in my business who have started late but are thorough professionals today. Tomorrow, when they move on, I know I have made a mark in their lives.” As far as challenges are concerned, Sandra believes that accepting a woman at the helm of affairs is very difficult for the male counterparts. “It has taken a lot of time and effort to get things in order. I feel women have an extraordinary common sense, a sharp intuition and a good focus on people.” “Another challenging aspect is the work-life balance. I call myself a mompreneur for having dual responsibilities to business and family, finding ways to devote time to both is the key to achieving a good work-life balance. When the going gets tough, tough women get going,” she says MARCH 2018 | Business Goa industry Dossier | 25

Cementing her enterprise


Gauri falari Proprietor, Shantadurga Concretes

eing a woman in a predominantly male occupation has never Optimistic, meticulous, and hardworking, Gauri posed a problem for Gauri Falari, proprietor of Shantadurga is indeed an entrepreneur par excellence. She Concretes, who has successfully created a niche for herself in the feels that being a female entrepreneur is “to concrete paver market. be empowered, financially independent, Having completed her Bachelors in Ayurveda, and an idol to your Gauri initially worked as an assistant at the Mapusa “Women children. Undoubtedly Clinic in 2003. After she got married in 2004, she entrepreneurship women entrepreneurship joined her husband Samir in his family business, is a step towards economic Sagar Cashew Industry. This was followed by being is a step towards independence.” involved hands-on in Kwality Blocks, a unit that economic She does, however, undertakes manufacturing of concrete blocks. independence” acknowledge that being a Finally, noticing a potent market in paving products, woman in the male-dominated Shantadurga Concretes was founded. A first-time entrepreneur, concrete industry posed some Falari established her unit under the PMEG scheme and owes challenges. “I wasn’t accepted very its existence to GIDC that assisted and educated her about the well in this domain. But the right scheme. Recognizing her husband Samir Falari’s role in her technical knowledge, a product career, Gauri credits her success to him, along with the constant with a difference, timely motivation and support from family members who have been a delivery, and customizing pillar of strength when she needed it. Now diversifying into the client requirements helped hotel industry, the Falaris have founded Nature Inn, a resort in overcome it all. With Nanoda. Nestled within 20 acres of lush green forest area, just media recognition 20 minutes from Mapusa, Nature Inn, an enterprise of Falari and having won Farms, offers weekend getaways that are unlike anything you numerous awards, have experienced before. Enjoy a stroll around the property, I was able to fish in the pond, play cards, games, or just curl up and read a consolidate my book. Whatever you do, you won’t want to miss the magnificent position in the industry, evenings you can enjoy from anywhere on the property. she says”



anuradha visvanathan Founder, Tea n Tonic

nuradha Visvanathan is an entrepreneur making strides in the highly competitive, fast growing PR industry. Anuradha spent most of her life between India and the UK. Anuradha started working in PR in London in 1997 for clients including Maker’s Mark Bourbon, Smollensky’s on the Strand (hotel), China Whites & Saint (night club) and Tiger Lils (restaurant). She went on to launch the second largest domain registry in the UK, which is dot UK dot com. She later worked for Haymarket Publishing in their Marketing & Circulation department. Inspired by her experiences in this industry as well as her tenure in Haymarket Publishing, Anuradha planted the seed for a new kind of company – one that would redefine the role of public relations – in Goa. Tea n Tonic, a boutique public relations, marketing and events company grounded by its passion for communication, core values and strengthened by its unique independence – has helped several leading brands communicate, engage and build relationships with their target audience. Anuradha has also consulted for restaurants in Pune and was a founding partner of Plug PR and has worked

26 | Business Goa industry Dossier | MARCh 2018

Anuradha Viswanathan is a true talent in the public relations industry. According to Anuradha, being a female entrepreneur is a huge responsibility. “The success “Being an entrepreneur, of our clients and in particular a reflects on us woman in this industry, as a company” it’s quite difficult often to be taken seriously. Even if you know your subject, and you know what you’re talking about, you are often shrugged off. And this is particularly difficult in India more than it is in other places of the world.” “Challenges arose primarily with making people aware of the industry; what PR actually means, because everyone has a misconception of it. As a PR and marketing company, our major challenge was explaining our services to people. Another major hurdle was just putting the word out there. Most of our closely with the press for the last 10 years. clients come from referrals and She also helps run an animal rescue NGO recommendations, and that Is how we called Animal Farm in Pune. Other than have grown as a company over the years. PR, Anuradha has also worked as an To me, success is equal to our clients interior designer and F&B distributor being happy with the services we deliver. under the brand name Jambalaya. The success of our clients reflects on us as Passionate, creative and committed, a company,” she says


Catering to the high flyers


brand name to reckon with in the catering segment of Goa, Amoncar Classic Caterers. was founded in 2008, Amoncar Classic Caterers is the joint venture of Aparna and Pradosh Amoncar. Known as one of the best off-premise, outdoor and indoor caterers in Goa, Amoncar Classic Caterers has an established reputation for exceptional food, creativity and presentation combined with outstanding service. Attuned to the changing tastes and trends in food and presentation, Amoncars’ continually strives to improve their offerings with a variety of delicacies. And a driving force behind this establishment is Aparna Amoncar. Aparna equates the word “empowered” to what it is like to be a female entrepreneur, stating, “We belong to a society where women have very little control over their lives. They are mostly burdened with family responsibilities. I studied law but since the time I started managing and employing my mind in our business, I realised how empowering it feels to be able to control your own life in all possible aspects. Men may have a natural tendency to feel more in control of dealings and management and probably that is more so because of the male-centric social norm. I started with feeling of unfamiliarity when I ventured into business, but the huge responsibilities and challenges that have come up in this short period have taught me to face the worst extremes and

A fine balance


aparna pradosh amoncar Director, Amoncar Classic Caterers at the same time also taught me to be content and satisfied.” Speaking about the challenges she faced along the way, Aparna says, “I was entrusted with multiple responsibilities in our business and the first real challenge before me was to be quick in decision making and reasoning and at the same time to employ my best management skills to balance my home, my family and my business. It is all about having equilibrium between work and family. Mompreneurs have dual responsibilities – to do justice to their business and to their family. Finding ways to devote time to both is the key to truly achieving that work-life balance. It is never a choice between one over the other, it is just the ability to make both co-exist.” In addition, Aparna believes that being an entrepreneur is all about being yourself and having confidence in who you are. “This simply solves the major problems in your life. They say, ‘Behind every successful man, there is a woman’, but I am proud to say that in my case it is vice versa. We both walk hand in hand. Success is achieved by your mind set. There is no need to hide or run away from who you are. We just need to enhance our capabilities. Know that every day is a new day which gives you more challenges and allows you to learn more. Learn as much as you can. Never stop. Be passionate about what you are doing and always give everything. Only those who have seen failure know how to cherish success”

archana pai bir CEO & Advocate

rchana Pai Bir holds a Bachelor of Arts (Economics), from Dhempe College of Arts & Science; and a Bachelor of Law (LLB), from V M Salgaocar College of Law, and was one of the women pioneers to venture into the highly-competitive field of law. Since 2003, Archana has been working for S N Joshi & Associates based in Mala, Panaji Goa as an advocate, making significant contributions to the strategic success of the firm. A confident and resilient advocate, Archana has appeared in the High Court, District Courts (North & South Goa) and other Subordinate Courts (North and South Goa). Archana is a fierce individualist with a mighty work ethic, st rong opinions, a n d stunning 28 | Business Goa industry Dossier | MARCh 2018

successes. Sharing the driving forces behind her many accomplishments, Archana reveals her mantra, “Believe in what you do, accept challenges, face reality, move in the right direction, focus on your growth, do what you love, learn from your mistakes, adapt to the changes, think big, think smart, use your power of dreams and imagination, and you will achieve all your goals in life.” In addition, Archana credits her success to the blessings of Goddess Kamakshi, along with the constant support of her family and loved ones. Through her hard work and resilience, unsurprisingly Archana’s successes have been tremendous. According to Archana, success is not reflected in money or status, “Success

comes as you grow in your field, help others reach their goals, be ethical and professional in your field, and contribute back to the community. As a lawyer, I have spent my own personal time to help those who are needy and cannot afford to pay their legal fees. I believe success comes naturally to those who are dedicated, hardworking and confident about their work. Every challenge you face in your career is a new opportunity to learn, adapt and grow. A balance between your career, personal life and family life is crucial. Support from your family is also important to achieve any goals in your career. You have to believe in yourself, keep doing the good work without any expectations, and enjoy what you do.” As far as challenges are concerned, here’s what Archana has to say, “Giving equal time towards my work and family, was quite a challenge in the beginning. In order to ensure a work-life balance, I had to set manageable goals each day to meet priorities on both sides. This gives a sense of accomplishment and control towards career goals and attention towards home. Being efficient and productive with your time at work and also being flexible are key components of work-life balance”

The fitness expert

jasmine d’souza Certified Fitness and Yoga Instructor


asmine D’Souza’s J’zy Fitness Studio is a mission-driven, holistic wellness and lifestyle brand that aims to spread wellness by being true to the age-old adage ‘a healthy mind, in a healthy body.’ Health and well-being is becoming nothing short of a global movement. Jasmine believes that true happiness lies first and foremost in being healthy and fit – not in mindless materialistic whims such as parties, money and commodities. After a major car accident, Jasmine found herself gaining weight due to the numerous treatments and medication. In her own words, “It is then that I chose this path, to get rid of all the negative thoughts, all my ego and restlessness, and strive to build a happy mind along with a fit body, through the practice of yoga.” With sincere guidance and training from her Guru, Shri Gururaj from Bangalore, she started practicing yoga. In the process, she discovered the true meaning of life, concern, happiness, and well-being. Her quick transformation led her guru to anoint her with a new spiritual name, Prerna, meaning ‘inspiration’, a name that truly resonated with her new life as a yogi. J’zy Fitness Studio was founded on this premise to inspire, and authentically facilitate the internal and external growth of individuals to experience a more fulfilled daily life. J’zy offers certified courses in Yoga Fusion, a concept in fitness that has never been tried before in Goa, that blends yoga poses with other fitness regimens

The correct direction


such as pilates, aerobics, and kickboxing. J’zy Fitness Studio thus intermingles every aspect of fitness and helps develop the three basic dimensions – physical, emotional and spiritual. Through J’zy Fitness Studio, Jasmine continues to invest in her own growth and well-being as an essential part of her entrepreneurship journey. Undoubtedly, her singular focus is on being a better entrepreneur from within. Speaking about her experience as a female entrepreneur, Jasmine says, “It really feels good and I am really privileged to be a female entrepreneur. However, sometimes, it can be a bit of a challenge and I am doing my level best to come out with flying colours.” As far as challenges are concerned, Jasmine says, “When I started my journey, Practicing every there were a lot of hurdles. A day gives me a lot of people doubted I would lot of confidence be able to do justice to my to excel in my studio and whether I had the profession necessary skills to continue and survive in the fitness industry. But due to the support of my family and members of my studio, I was able to prove my critics wrong. Also, I continued with my practice every day which gave me a lot of confidence to excel in my profession and impart my knowledge to all the members who trust me. This motivates me to always be positive and never think of it as a burden. I always look forward to excelling every day of my life, be the best “fitness expert” and be an example to all women who are aspiring to be successful entrepreneurs”

pallavi desai Vastu and Property Consultant

iligent and patient, Pallavi Desai is Pallavi studies the issues and problems an acclaimed Vastu consultant from of her clients and delivers responsible Mumbai. Literally translating to “the suggestions, thus helping them live a science of architecture”, Vastu Shastra, is happy and healthy life. Transparent and an age-old traditional Hindu system of effective suggestions are made without architecture. A highly scientific art, Vastu any demolitions or structural changes. Shastra brings together architecture and Pallavi has earned her reputation as an spirituality, thusly creating havens that authority in Vaastu Shastra due to her nurture the soul. accurate and result-oriented solutions Pallavi is one of the pioneers of the art opening doorways to health, wealth, in the state, having a global presence for peace, prosperity and good relationships. over 12 years. She has travelled Pallavi has diversified into widely in India and abroad to “Women are property dealing. Her major cater to her clients, who are natural multi- areas of operations have been extremely happy with her India and Dubai. She now has taskers” services. plans to further diversify into Pallavi is a treasure trove of construction in Mumbai and Pune, so knowledge when it comes to Vastu that she can construct ‘happy living and Shastra, holding a deep understanding working spaces’ at affordable prices. in pyra vastu, numerology, astrology, Speaking on what it’s like to be an dowsing, chakra balancing, colour entrepreneur, she says, “Being a lady therapy, and meditation. Backed by years entrepreneur has been a very exciting of experience, she has handled many big and rewarding journey for me. Women and small projects in India and abroad. are natural multi-taskers. Support from Her immense understanding of the art family, especially spouse, is extremely has helped change thousands of lives. important, which I am blessed with. I Her projects include both residential and have to essentially maintain a work and commercial spaces. life balance, which is an art that I have As a leading Vastu consultant, learnt over the years.”

“My work requires lot of travelling; and I am an avid traveler. Due to the nature of my work, I am sometimes unable to keep some of my family and social commitments. Initially, my family was concerned when I visited unknown households to carry out vastu inspections. But, luckily, all the people who have consulted me have been extremely good human beings and there were hardly any challenges in establishing myself ”

MARCH 2018 | Business Goa industry Dossier | 29


Robust Restaurateur

Marketing wizard

What is it like being a female entrepreneur? Being an entrepreneur is incredibly empowering and being a female entrepreneur even more so. Women are moving into their own and there isn’t a better time for women to start their own businesses than now, especially in India. The government has some great schemes to encourage female entrepreneurship and the statistics are encouraging. Women are also tougher in my opinion; they don’t give up until they’ve got what they want and are willing to fight hard for it

“I am an entrepreneur and I don’t really look at it as a gender based thing,” says Vaishali Joshi, Founder of The V-Factor, a marketing consultancy. She feels that it is more about being competent and on top of her job, and credis her family for always backing her up and supporting her plans. “My husband Parag, whose entrepreneurial spirit and great leadership abilities have influenced me. My son, Rishabh, a post graduate from the London School of Economics, is also a great influence in terms of new age ideas and suggestions,” says Vaishali. Regarding the challenges faced in her professional journey she says “The V Factor, has not faced too many

sabreen sukhtankar Co-owner, Black Sheep Bistro

The Challenger

marsha almeida coutinho Director, Longuinhos Beach Resort

What is it like being a female entrepreneur? Being a female entrepreneur is easy. I believe that it is all about where you see yourself today and tomorrow, and this has nothing to do with whether one is male or female. What are some of the challenges you faced in your entrepreneurial journey? How did you overcome them? I joined at a point where I did not know much about our business. However,

too. At the end of the day, running a successful business, is definitely not for the faint hearted. What are some of challenges you faced in your entrepreneurial journey and how were you able to overcome them? Running any business is challenging, whether you are male or female. The corporate world was initially built by men and designed to cater to the male perspective. With more women coming into positions of the decision maker, they are changing the work environment to make it more conducive for other women to succeed. We are those women now and we have a great responsibility to work together to help other women reach greater heights than before studying (in relevant courses), and managing our business at the same time, gave me the hands-on practice which not everyone is lucky to have. The biggest challenge, of course, was to bring back Longuinhos to that level where Iloy Almeida Coutinho, my dad, had left it after his untimely demise. Perseverance and the interest to make it large in life always gets you there. People have looked down on me in the past, because I started young. I once overheard someone saying, “What will this 19-year-old kid do?” T h e s e sort of comments haven’t pulled me down. I like my work to speak for me; people will change their perception, in time

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vaishali joshi Founder, The V Factor

obstacles. Even though I am not originally from Goa, the warmth and the love of all Goans has engulfed me. The only trepidation, as a woman is when I travel for business outside Goa. Late evening meetings are something I like to avoid. Also, it irks me when people think that I work for time-pass. Somehow, a woman working because she has an achievement orientation tends to elude some people and that can be very hard to handle.” Vaishali considers herself very lucky to be an entrepreneur in this field as it’s something she’s always been passionate about. She also credits her success to the powers above and her peers for always motivating her

Living her dream morzenia almeida coutinho Director, Longuinhos Beach Resort

What is it like being a female entrepreneur? It’s about taking a step back and actually thinking about the life you want to live, the things you want to achieve. When we do that and we get really clear on what we want our lives to be like, we can all create so much success, every single one of us. Live your dreams; live your dreams out loud

What are some of the challenges you faced in your entrepreneurial journey? How did you overcome them? I have always believed that “the greatest pleasure in life is doing what people think you cannot do”. I recollect, years ago, wanting to associate our brand Longuinhos with various companies or trying to associate with others; there were times when people would bluntly say NO and look down upon me and make me feel so negative about my work. I do not feel the same anymore today, because I have worked on every small thing possible to convert a ‘no’ to a ‘yes’. I think it is very important to be criticized to be able to give it your best

Made for hospitality


neeta brid General Manager, Cidade de Goa

eeta Brid started her career as a chef in La Paz Gardens after graduating from IHM, Goa in 1991. She later joined Majorda Beach Resort as Food & Beverage Manager. Post the birth of her son, she decided to take up a sales profile to balance both professional and personal spheres. She joined Cidade de Goa in 2004 as the head of Sales and Revenues. According to her, it was a very satisfying role in terms of learning and professional growth. In 2008, Neeta was made general manager of the resort, which is her current role. She is responsible for operations, revenues, contributions and marketing of the resort. Speaking about her experience as a woman professional, Neeta says, “I never felt any discrimination. I feel your professionalism and merits speak louder than your gender. Being a woman professional is not something exceptional these days. We are more independent and career-oriented and represent every profession across the board.” With the growing importance of women in every field of the community, we can see that more and more women have made it to senior leadership roles in various verticals. For Neeta, it has been a learning experience throughout. “Even today I feel that I am on a learning curve. As a professional, I never miss out from getting my knowledge updated from any source. Learning can never cease at any level,” she says. As far as challenges are concerned, Neeta speaks about defying social expectations, “In any organization,

Crafting dream weddings


o wish is too big and no demand too wild for wedding planner par excellence, Shruti Tiwari. A name that needs no introduction in Goa’s event planning industry, she is revolutionizing the way people say, “I do”. A journalist by profession, Shruti Tiwari’s love for events coupled with her drive towards making her dreams a reality is the story behind her success as 32 | Business Goa industry Dossier | MARCh 2018

forum or networking social dos, one will always see the ratio of men to women professional is heavily skewed. Women are far lesser in number. I hope to see this ratio rationalize someday. It is important for us to be updated with current affairs, knowledge of various subjects to partake in conversations and discussions. For a woman professional, it is slightly more homework so as to not be written off in such professional engagements and discussions on the sheer basis of gender.” In addition, as is the case with most female entrepreneurs, striking a balance between work and family commitments might prove particularly arduous. Elaborating on this Neeta says, “Work-life balance is a goal of many professionals regardless of their gender, but mothers who are working have to simultaneously run their families and their professions.” With the constant support and motivation of her family, success has always been at Neeta’s fingertips. “I feel proud and great about being counted in a list of successful working professional in the hospitality industry. As I said, you are always recognized for your work output, integrity, loyalty and your merits. I believe strongly that the two ingredients of being successful are a great attitude and an unwavering passion towards your job.” Sharing her success mantra, Neeta says, “The most successful women don’t run from change; they run towards it”

Shruti tiwari Director, Vogue Luxury Weddings - Occasions

head of Vogue Luxury Weddings. Launched on January 4, 2016 Vogue Luxury Weddings – Occasions is a wedding and event planning consultancy providing bespoke, elegant and first-class service to discerning clients. For Shruti, it’s never just about a wedding. A wedding planner is more than just someone who you sign a contract with to execute your big day. They are confidantes, sounding boards, and a gut check as couples navigate the often overwhelming process of wedding planning. Shruti’s clients stand as a true testament that her role as a wedding planner involves a lot more than just planning a party. Even two years after a wedding has been planned, Shruti states that she continues to receive updates from the happy couples about the married life she helped create. Today, as one of the leading wedding planners in Goa, Shruti Tiwari and her team continue to plan and curate experiences for their clients, exceeding expectations, with a keen eye for detail and ability to visualize and execute what their clients want into reality. When asked if being a woman in

business is hard, Shruti says, “Being a female entrepreneur is tough, but it’s the kind of ‘tough’ that I can enjoy. It has taught me so much and has also made me believe that life is about experimenting. When passion meets hard work, success will follow you. Being a woman, in different walks of your life you will meet different people who will do everything they can to put you down or at least try. Getting over that kind of negativity, and doing what I am meant to do was tough. Society expects you to be more committed to your family, but for me it has always been about a balance. Being a female or an entrepreneur hasn’t affected my personal goals and tasks. When you truly love something, be it your relationships or profession, you automatically find time and the energy to do justice to them.” “Often, people only see what they want to see and completely neglect the hard efforts put into something. I’ve faced such situations and ignoring their opinions and doing what I believed in was a task. But the kind of joy that comes when you achieve what you are working for is the answer to all those people”

The perfectionist


shreemi pai panandikar Proprietor, Silverline World

esilience is believed to guarantee success. Shreemi Panandikar stands proof of this. She started her journey as an entrepreneur in 2005, with her venture Shreemi Creations, a graphic designing outfit. As a newbie in the entrepreneurial domain, Shreemi was underestimated but it wasn’t long before she earned respect and projects that inspired and motivated her to take a bigger step and start Silverline World. Established in 2005, Silverline World in Margao is a top player in the interior designing sector in the state. This well-known establishment acts as a one-stop solution to all one’s interior designing requirements. Shreemi’s belief that customer satisfaction is as important as the products and services offered have helped her business garner a vast base of customers, which continues to grow by the day, thus establishing a firm foothold in the industry. Silverline World concentrates on interior designing and project execution jobs. Silverline World has expanded to offer interior and exterior branding, ACP cladding, aluminium windows, sliding doors, carpentry, stainless steel/MS railing fabrication, wallpapers, vinyl floorings, laser cutting/engraving on acrylic, MDF board, and other non-metal boards, all types of signage and printing on any media. Silverline has also introduced to Goa, a first of its kind UNIBEND machine that functions along with the laser machine to make aluminium channel box letters which gives signage a more elegant look. Currently, Silverline is looking at

two turnkey projects – rooms renovation at Hotel HQ and reception area renovation at CG Power and Industrial Solutions, Kundaim. The company not only designs the space with the help of reputed architects but also executes the same under their supervision. With each step towards success, the competition around Silverline World has also grown but Shreemi is unfazed. She knows her hard work and determination yields results. According to Shreemi, being a female entrepreneur means being independent in all respects. “Very often, we women depend on our husband, father or brothers for trivial things but I always believe and always practise independence in the true sense.” Speaking about the challenges she has faced along the way, Shreemi says, “I have faced many challenges, but ultimately being true to certain values and principles has always helped me face these problems boldly. Being honest, true to myself and transparent with clients, never tolerating any form of injustice, possessing a hardworking attitude, being committed to my work, holding an inquisitive nature – which helped me upgrade my knowledge, are some of the many beliefs that I have found essential in keeping up with the pace of my competitors. Most importantly, I believe striving for excellence rather than chasing money has helped me overcome all challenges in my way”

Preserving the taste of Goa


rmed with a diploma in Fashion Designing from the Government Polytechnic Panaji, M.Com and B.Ed, Shradha Sawant started her career as a lecturer in Business Studies at the Government Higher Secondary School, Khandola. Over time, she moved to an entirely different line of work. Today, Shradha is spearheading the family business, Star Agro Products; an expanded village industrial unit earlier owned by her mother Ratnamala Parab, under the name of Star Products. Within four years of its

shradha sawant Proprietor, Star Agro Products

formation, Star Agro Products and its entrepreneur, means being independent earlier entity have grown exponentially in all respects. Meeting targets on a dayand spread throughout local markets in to-day basis for the company is what the state. drives her at work. She says There have been problems “You must not there is a picture in her mind along the way – finding a only know your of what needs to be done bigger unit, complaints of product, but be on the next day. And when pollution, legal battles and aware of the she works with a positive so on – but Shradha has approach, she is able to execute competitive tackled them with patience most of the tasks successfully. and perseverance. Speaking environment Providing local women with about the challenges that and cultural employment opportunities arise due to the competitive trends to is what she considers her market, Shradha says, “You assess your biggest achievement as an must not only know your entrepreneur. Workers also get product, but be aware of the business’ place incentives during the festive competitive environment in the market. seasons. and cultural trends to assess I have full faith Star Agro Products your business’ place in the in the quality of has been the proud recipient market. I have full faith in my product.” of a number of awards, most the quality of my product, recently, the COSIDICI so the competition doesn’t National Award under their really matter to me. And this is what flagship self-employment scheme gives Star Agro Products an edge over the ‘Chief Minister Rojgar Yojana’ (CMRY), competition.” for Outstanding Entrepreneur in the For Shradha, being a female Manufacturing Category 34 | Business Goa industry Dossier | MARCh 2018


Against All Odds

swatee shere rane Company Secretary, Chartered Accountant

What is it like being a female entrepreneur? Women are generally more level-headed, practical, are multi-taskers and empathetic. A working woman juggles roles – at work and home. For that matter, every individual – man or woman – does that. But for a woman, there are extra challenges because society looks up to her as a nurturer, caretaker, family maker and a family keeper. What are some of the challenges you faced in your entrepreneurial journey? How did you overcome them? There are many challenges for a working/professional woman because Indian

society lays down many rules for the girl child. It starts right from what she can study, where she can study, where she can work, how she should dress, where she can travel, so on and so forth. As a child, I dreamt of being a surgeon, but I couldn’t enroll in a college offering science as there were none next to my house. Though I chose commerce, it did not douse my zest for excelling in academics. In the midst of this, my father retired and we had to shift residence from Navy Colony in Mumbai to my father’s home town, which was a small district. I kept fighting against all odds (e.g. no access to professional classes, non-availability of

The legal eagle

sujai joshi Advocate, Partner at Hariani & Co.

What does it mean to be a woman professional? People have a bias against women in leadership and we desperately need to correct that. In order to change this bias we need to make a systemic change. If we have female equity in companies, then the work culture would change and there would be fewer men in high level

positions. When a woman heads an organization, people often label her as “aggressive, emotional”. But I think that’s all changing now. I am fortunate to work with an incredible team of people and as I expect a lot from them, I guess they too expect me to guide them and have exemplary leadership qualities

books, travelling to Mumbai to appear for professional exams, etc) and managed to stand second in merit in postgraduation, and also obtain dual professional degrees (Chartered Accountant and Company Secretary). As

a professional, I’ve had to fight other situations but I believe that challenges can either be treated as threats or opportunities. If you are opportunistic, the sky is the limit and it doesn’t matter if you are a man or woman

MARCH 2018 | Business Goa industry Dossier | 35



Gladson Mony

The Prudent choice!

Gladson Mony always wanted to be an entrepreneur. Today, his Prudent Craft is a recognized name in the garment industry

Some of the garments made here are polos, Henleys, sleepwear and atheletic wear for men, women, and children; (Left) Employees hard at work at the state of the art workshop in Tamil Nadu



he son of a scientist and an educationist, one would think that Gladson Mony would have academic

leanings. But Gladson had business on his mind since the tenth standard. Which is why he dropped out of his engineering course to pursue a BBA. In 2011, at the age of 23, Gladson launched Glady Animation, which created architectural walkthroughs and short, animated videos. Unfortunately, the venture did not kick off, so he had to shut shop. But making optimum use of his animation skills, Gladson started tinkering with the idea of an ecommerce space. That’s how, in 2013, he launched Prudent Bay in Goa. Through it, he launched the e-commerce portal, where Goan spices, nuts, and sweets were sold. He then planned on entering the fashion space through an interactive e-commerce platform called desig nersHQ. com, but did not receive the required response from brands and designers. Deciding to venture into the garment industry without support, Gladson launched Prudent Craft on August 1, 2016 in Tamil Nadu. Recollecting

36 | Business Goa industry Dossier | MARCh 2018

the pains taken to finalize a location for his enterprise, Gladson says, “My team and I had planned to launch the venture in Goa earlier and we had approached a number of local brands, but since they were not interested we had to launch our own brand”. During this time, Gladson also visited Bengaluru and Tirupur to create his own brand; this is when he met his current CEO Suresh Subramaniam, who has 18 years experience in the garment industry. At that juncture, Suresh was looking to quit his job and start a business of his own. Thus grew a partnership and Prudent Craft was launched. After the initial, expected hiccups in the entrepreneurial journey, the company has now earned expertise in the field of sourcing, manufacturing and exporting premium quality knitted and woven garments. Prudent Craft began as a buying house and later moved on to manufacturing t-shirts for their in house brands, Modberries and Reindeer Elite club. They also undertake bulk orders for corporate t-shirts, school uniforms and events. The types of garments manufactured include polos, crews, henleys, sleepwear, athletic wear and garments dyed for men, women and children. Their list of corporate clients include the Krishnapatnam port in Andhra Pradesh and Pentair Water India Limited in Goa. With the amount of

success they receive, through the sale of their manufactured garments and via customer feedback, Prudent Craft has now gone a step ahead and taken up the challenge to cater to well known brands within India and overseas as well. Some of these brands are XOYO, Styx and Stone, AMON and Attitude. The presence of Prudent Craft can also be felt in the Indian textile Industry through its outlet Modberries in TexValley mall at Erode, India’s largest wholesale textile market. To make their in-house brands Modberries and Reindeer Elite club accessible to the common man, Prudent Craft has also tied up with multibrand e-commerce websites like Flipkart, Amazon and Snapdeal. The success of Prudent Craft as a manufacturer can definitely be attributed to their incredibly talented team that has more than 15 years experience, as well as their technologically advanced machinery that manufactures high quality garments. Right from their fabric suppliers to their quality check team, they are self sufficient to handle bulk orders as well as small volume orders. The process of handling an order starts from the customer selecting the type of fabric and design they want. Later, the selected fabric is procured from the vendors and the garment is customized according to the customers’ needs with the help

of designers. They also Prudent Craft plans to increase their have in house stitching manufacturing and and designing facilities, has now earned export turnover by except for printing which expertise in the getting into niche is outsourced. Gladson field of sourcing, markets. A key element also planning on manufacturing and islaunching for growth in sales is stylishbay. affordability and Prudent exporting premium com through his Craft’s pricing is cause quality knitted and company, Stylish Folks. for its popularity in the woven garments Stylish Bay will be an market. The price of interactive e-commerce a Reindeer Elite club Polo shirt of platform, exclusively for Stylish premium quality ranges from `750Folks’ in-house brands like Imperial 1500 while Modberries t-shirts range Clan, Ace warrior, Reindeer Elite from Rs `350-500 for non corporate, club, Neotribe and Modberries. This small scale orders. The USP of Prudent portal will enable customers to shop Craft is that they accept small scale for customized garments and also let complex orders. They also cater to the them upload photos of themselves needs of luxury brands that place low to help them figure out the look they quantity orders with a higher budget would like. Customers will also be in to work with. Prudent Craft is also able to customize the logo printed one of the few manufacturers that and place it where they want, with a provide multi-address and worldwide drag and drop option. With a strategic shipping for bulk orders, thus making plan in place, Gladson Mony is all their garments easily accessible set to make his mark in the national around the globe. garment industry In the future, Prudent Craft


MARCH 2018 | Business Goa industry Dossier | 37


Lord Karan Bilimoria, founder of Cobra Beer and a member of the House of Lords was in Goa to speak at the D D Kosambi Festival of Ideas. He spoke to Harshvardhan Bhatkuly on business, bilateral trade, and Brexit

whether it is through networks, government support, or even universities with entrepreneurship initiatives. At the University of Cambridge, we offer programs. These entrepreneurships are not only available at business schools, but for everyone studying at Cambridge. All the students have access to the entrepreneurship projects that are available through the University. The same goes for the University of Birmingham, where I am the chancellor. We have entrepreneurship programs available throughout the university, so it is now central to the UK where entrepreneurship is a part of our economy. I think a similar situation prevails in India with the opening up of the economy and liberalization; entrepreneurship is now flourishing in

grow and emerge as a global economic superpower, Britain should be doing much more bilateral trade in both goods and services. Both countries are also beneficiaries of high inward investments, which is why bilateral investment should also be considered. What would be the ideal sectors in terms of services? From India going into the UK, obviously IT. A number of firms do a lot of work there. There is also manufacturing. Now, Jaguar Land Rover is the biggest manufacturer in the UK; so there is great potential there. There are linkups with accounting firms and lawyers. Unfortunately, foreign lawyers still cannot practice in India, which is absolutely ridiculous. The profession should be

“The British people now see that the Brexit emperor has no clothes” Lord Karan Bilimoria is the founder of Cobra Beer, chairman of the Cobra Beer Partnership Limited, and chairman of Molson Coors Cobra India. Lord Bilimoria is the founding chairman of the UK India Business Council. In 2006, he was appointed Lord Bilimoria, making him the first ever Zoroastrian Parsi to sit in the House of Lords. In 2008, he was awarded the Pravasi Bharti Samman by the President of India. He is an Honorary Fellow of Sidney Sussex College Cambridge and Chairman of the Advisory Board of the Judge Business School, Cambridge University. He is also an alumnus through executive education of the Cranfield School of Management, the London Business School and Harvard Business School. In July 2014, he was installed as the seventh Chancellor of the University of Birmingham, making him the first Indian-born chancellor of a Russell Group University in Great Britain; he is the president of the UK Council for International Students Affairs (UKCISA). What is the potential for a UK-India exchange in terms of business? When I went to the UK in the early 1980s, the UK had no respect for the word ‘economy’. It was seen as the sick man of Europe; it was seen as the country that once had the largest empire the world had ever known, but had been reduced to a ‘has-been’. And then came Margaret Thatcher with numerous reforms to open up the UK economy, to encourage entrepreneurship. Entrepreneurships which were looked down upon in the early 1980s, became celebrated. Now, Britain has evolved into being one of the most entrepreneurial countries in the world. London is one of the most entrepreneurial cities in the world. It is by far one of the best places in the world to have your global headquarters, which we do in Cobra Beer. Entrepreneurship is encouraged, celebrated, and supported 38 | Business Goa industry Dossier | MARCh 2018

the country. The opportunity created for Indian and UK entrepreneurs to collaborate, invest in each other, work with each other, and partner with each other to mutually benefit is infinite! What about bilateral trade? To put it in perspective, 50% of our trade in the UK is with the European Union. Another 20% or so is through free trade agreements the European Union has with over 50 countries around the world, the latest being Canada and Japan. Seventy percent of business trade is with and through the European Union. The second biggest trading partner is USA, a country in which we engage 18% of our trade with. The whole of the Commonwealth including India, Australia, New Zealand and Canada makes up less than 10% of business trade. We could and should be doing so much more with the Commonwealth. As India continues to

opened up, for the benefit of India. Indian lawyers themselves stand to gain from it because Britain has some of the best lawyers in the world. Additionally, when it comes to infrastructure, there is huge potential, as India continues to invest in infrastructure. British firms have expertise in building infrastructure. When it comes to smart cities too, Britain has got a lot of experience. Education is also a strong potential sector. I am the chancellor of the University of Birmingham, and the chair of the Cambridge Business School, one of the top business schools of the world at Cambridge University. Foreign universities cannot open up in India. Again, India needs to open up to foreign universities. If this were to happen, a number of foreign universities around the world, including the UK, will open campuses in India. This will greatly benefit the country and aid its expansion by increasing capacity and quality. This will facilitate exchange of students, exchange of faculty, and research collaboration. There is phenomenal potential. What measures have been taken to ensure that business between the two countries flourishes and there is more give-and-take? Firstly, I think it is important to have a good relationship. And the relationship between Britain and India goes back around 400 years, to 1614. Whenever I show visitors around the House of Lords,


I take them to a mural in which the first ambassador from Britain, Sir Thomas Roe, is seen presenting his credentials to the Mughal emperor Jehangir. That is how far back our relationship goes and I think that closeness is phenomenal. I have accompanied Tony Blair, Gordon Brown, David Cameron, when they were prime ministers, to India. Unfortunately, at the moment, we have issues with immigration where Britain is sending out the wrong signals. For example, President Xi Jinping came on a state visit to the UK and announced that Chinese business and tourist visitors can get a twoyear, multiple entry visa for 85 pounds. When Narendra Modi travelled to Britain, I encouraged the British government to do the same for Indians. It didn’t happen. A two-year multiple entry visa from India costs over 300

pounds. Why should there be discrimination between China and India? I think that is wrong. When it comes to students, we still include students in our net migration figures. We treat them as immigrants. The government has a target to reduce net migration to tens of thousands. Now, if you include students in the migration figures, you are sending out the wrong message that you want to reduce the number of students, which is not the case. We have been fighting parliament to get the government to change this policy. Competing countries like the USA, Canada, and Australia do not include international students in the net migration figures. I understand that this stance was taken because of the perception that international students were overstaying and not returning to their countries. However,

according to statistics released last year, less than 5% students overstay. This is a negligible figure. Secondly, we used to have a two-year post graduation work visa, which I spearheaded in Parliament and helped to introduce 10 years ago. With this visa, any foreign national could stay on for a further two years after graduating to work, earn some money, and gain some work experience. Through this manner, the foreign graduates would contribute to the UK economy, and build bridges for generations. The coalition government did away with it and it was never reintroduced. So we are losing out on a lot; the number of Indian students has halved since 2010. The demand for students from India to study abroad is increasing by 8% a year, and Britain should be ahead of the game and benefit from this.

In terms of perception, how do you think India is judged in the UK? India is seen as one of the fastest growing economies in the world. You will find more and more business and tourist visitors from the UK to India. When I used to travel between the two countries, in the days when I started Cobra Beer 27 years ago, you would hardly see any western faces on the planes. Now there is a minority of Indians, because there are so many people traveling to India, who see India as a growing marketplace to invest in. And the same is the case conversely. You have Indians traveling to London and the UK... To this day, if an Indian is going to travel abroad for the first time, the first place they want to go to is London. That’s wonderful. According to me, London is the greatest of the world’s great cities. And

MARCH 2018 | Business Goa industry Dossier | 39

InterView it is the number one financial center in the world. It is only this wretched referendum, Brexit, that has created issues. Speaking of Brexit, is there no way to turn back the clock? I was the first person to speak in Parliament in the House of Lords after the election in June last year. I was very clear in saying that we will end up remaining in the European Union. I was the first Parliamentarian to say that, and I believe that will happen. Whichever way you look at it, it seems inevitable. I have already explained how 75% of our trade is through the European Union. As a businessman, I think it is complete madness to sacrifice that to go after 25% you may never get. Further, the free movement of people, goods, and services, and of capital should never be taken for granted. In terms of students, the research collaborations are so powerful, and integrated into the European Union. It is not as simple as exporting some goods. Many of our goods move in both directions. With regard to complicated aerospace projects, some parts are manufactured in the UK, and are supplied to countries in Europe, and then return to the UK, afer


which they are again exported to Europe. Now, if there are going to be barriers and tariffs, and bureaucracy in between… I think we are jeopardizing it, like with the issue of the Irish border, Northern Ireland is part of the UK, after the Good Friday Agreement inked 20 years ago. Today, there is no border between Northern Ireland and Ireland. Many Northern Irish citizens have dual citizenships. There is no way we can go back and jeopardize the Good Friday Agreement because of EU Brexit. The British people will not accept it; the Northern Irish will not accept it. And then Scotland will say, well we want special terms as well. So the whole unity of the United Kingdom is threatened by Brexit, let alone the unity of the European Union. Every way you look at it, Brexit is an absolute disaster. In terms of controlling the population, there are three million people from the European Union. Without them, we would have a labour shortage. Currently, unemployment is at the lowest rate in history, at 4.3% in the UK. What would we do without these three million people? The National Health Service and care sector alone employs 1,30,000

people from the European Union. What would we do without them? In many universities, up to 20% of the academics are from European Union countries. In terms of control of laws, the main laws are made in Westminster Parliament. The day-to-day laws, the ones that affect us, taxes, planning laws, education, health, you name it – we make them at Westminster. I think the British people are now waking up to the realities of Brexit, and they’re seeing that the Brexit emperor has no clothes. Then, they will say that we’d much rather remain in the European Union, and that option is available because Article 50 can be withdrawn by us. Furthermore, I have spoken to a senior leader of the European Union just two weeks ago, and he said, “We all want you to remain.” This includes Jean-Claude Juncker (President of the European Commission), Michel Barnier (French politician), and Emmanuel Macron (president of France); they all want Britain to remain in the Union. So if Britain wants to remain, Europe will make it happen. The world wants us to remain, except Canada. In India, everyone I ask, in business, government, civil service, citizens of India, 100% want us to remain in the EU

Business Wisdom at Goa’s Biggest Book Store

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 40 | Business Goa industry Dossier | MARCh 2018


Renaissance Man

Vasantrao Dempo ( 0 4 M a r c h 1916 - 09 November 2000)

Management, Officers and Staff of


Corporate Office: Dempo House, Campal, Panaji, Goa 403001 Tel.: 222 6281/86, 244 1300/457 Fax: 222 5098 / 222 8588 | email:


Everything about Vasantrao Dempo was larger than life. He broke new grounds and trailblazed business arenas like no one before. Industrialist, philanthropist, educationist, builder of modern Goa, Vasantrao Dempo was leadership personified. On his birth anniversary, we at Dempo Group of Companies bow in respect to the memory of our founder.




Upgrade Enterprises Pvt Ltd

On the Upgrade

After dominating the trading business in the state for four decades, Kakode Trading LLP is now venturing into manufacturing with an aim to widen its influence across the country and globe



ith business being ingrained in the Kakodes, it was only a matter of time before they took the plunge and entered the manufacturing sector. The family’s newly established arm Upgrade Enterprises Pvt Ltd (UEPL) is engaged in the manufacture of epoxies, polyurethane, polyurea, PU-Krete and other related products. Epoxies have a wide-ranging application, right from protective coating to making composites for the manufacturing of aircrafts. Under the dynamic leadership of Pravin Kakode, Upgrade aspires to produce a wide range of epoxy products, if not all. Kakode shares his thoughts on his vision, “We are in the process of building the infrastructure to make our long term vision a reality. The kind of investment needed for this kind of manufacturing is huge and we are going to do it in a phased manner. Even now, at the start of our journey, the products that we have manufactured in the epoxies are truly world-class.” Speaking on the expertise acquired to undertake the manufacturing process, Kakode says, “UEPL is backed by veterans with vast technical knowledge and international exposure in this field. One of them is Vishwas Kenkre, someone who has headed technical departments of several MNCs in the past. He has been a guiding force for us.” The Research and Development team at UEPL has shouldered the responsibility

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of developing niche products in the epoxies. Some of the products on the shelf are high abrasion resistant, highly strong adhesives and those possessing other unique qualities. UEPL’s off the shelf epoxy products include Defender, Black Shield, 3600, Hard Fix and Duo. Brute Koat is a high abrasion resistance coating for high mechanical movement areas. Illuminato is a coating that the company has developed which can be used for marking pathways directions and it absorbs sunlight during the day and lights up almost 8-10 hours at night. Its cleaning chemicals product portfolio covers wide ranging products in housekeeping, kitchen, personal and car care. “There are not many

“At Upgrade, the focus has always been people. We believe that only people-centric industries can make the biggest difference. The rest of the resources can be arranged as and when needed” Pravin Kakode

products in the market on the lines of what we are manufacturing. We are particularly looking at products which add substantial value but also gel with the Upgrade brand. We don’t want to get into the competition of making products which cost less, but want to make quality products which are the best in their class and should be able to sell itself,” Kakode explains. He adds, “We aim to make products which will really perform and are unique. For that matter, we have developed a product which can be coated on wet concrete. Additionally, we have epoxies which can be applied on surfaces which have water as well as oil traces as no other coating will hold there.” UEPL is targeting institutional sales as far as cleaning chemicals are concerned. In the first phase, 20 of these products were introduced. The company is currently making inroads in west and south India by strictly sticking to distributors in the region. “Despite the focus being in South and West India, we are getting a lot of enquiries from other parts of the country as we have lots of associates throughout the country. However, we don’t want to rush it as we are committed to providing a good product at a good price, on time,” informs Kakode. UEPL is confident of covering the rest of the country in 5-7 years. The manufacturer has acquired plots in Cuncolim and Verna industrial estates and has applied for the necessary permissions required to construct a mega shed that will fulfill the growing production demand. Its R&D labs are committed to innovation, which will lead to consistent product improvisation. U E P L’s products have been so wellreceived that they have replaced a few MNCs’ products. “Our strategy is very simple for any product. We give everyone a sample; if the client is satisfied,


he can continue with it,” Kakode explains. Currently, the company is involved in expanding its core team. Explaining the role of the workforce in a people centric-company, Kakode says, “We are trying to get people with good experience because, at the end of the day, if you’re not able to hire the right people for positions, you can’t create magic. At Upgrade, the focus has always been people. We believe that only people-centric industries can make the biggest difference. The rest of the resources can be arranged as and when needed.” UEPL is building resources to cover all manufacturing needs. Kakode elaborates, “One of the advantages we have is that we have created a plant which has different levels of manufacturing. There is lab size equipment for every glass reactor. Any

In the course of time, UEPL is very optimistic about increasing its own product portfolio under the brand name ‘Upgrade’ to fulfill all kinds of customer requirements client who requires a bench size of a smaller quantity can avail of it from us. Most large scale companies refuse such orders. We are specifically moving in this direction to give maximum customized products to all our customers.” In the course of time, UEPL is very optimistic about increasing its own product portfolio under the brand name of Upgrade to fulfill all kinds of customer requirements. Apart from that, the company is showing immense promise in contract manufacturing. “There are certain formulations which most industries want to give

contract manufacturers so that they can be produced in bulk. We are open to such ideas,” Kakode added. “Our longer vision is to ensure there is a Goan MNC and we are already in talks with some clients abroad for manufacturing and supply. We don’t want to rush into exports right now because we want to stabilize production. Initially, we will go to a twoyear-cycle, understand how it all works and then maybe we can decide on future goals, such as exports” elaborates Kakode. Pravin Kakode believes that his company is wellfinanced and is already in talks with a few financial institutions. “Once we cross certain thresholds and take a further leap, then we can look for external investment. Apart from that, we want to get into acquisitions, if some MNCs want to dilute any of their

divisions. We are looking for such opportunities to expand our footprint,” he divulged. UEPL is also involved in marketing, concentrating more on the digital space. The company representative in Mumbai will be monitoring progress on this front. “We have made huge investments in terms of acquiring machinery. We are looking at fantastic innovation that will come out of our company. Some products will be the first of its kind to be manufactured here in India. There will be cutting edge packaging for all our products, truly signifying top notch quality.” With superior products and a methodical, clear approach to business, it doesn’t seem like it will be too long before Upgrade products are distributed throughout the country, and across borders

MARCH 2018 | Business Goa industry Dossier | 43



Powering the auto sector I

Powerland ATV has ambitions not only in the country, but expansion to Europe as well


f you have always dreamed of owning a multi-utility All Terrain Vehicle (ATV), which is road legal in India, look no further. Powerland Agro Tractor Vehicles Pvt Ltd, a Goan automaker, has developed powerful ATV machines, keeping in mind the needs of the domestic market and conditions. Powerland ATV’s founders hail from Margao and are ardent automobile enthusiasts. It is a family business headed by Narayan (Nana) Naik while his sons Tej and Jeet are directors. Powerland’s first product was a diesel farm 900d tractor – the first of its kind in India. It’s a multi-utility versatile tractor that can plough, tow, level and ride in harsh terrain. It is equipped with AV-twin 800cc 20HP liquid cooled diesel engine, which has cleared current emission norms. It also has an on demand fourwheel drive. The tractor’s ECU and electronic fuel governor make it fuel efficient, giving more than 20 kms per litre. It’s a fully tested vehicle that has the certification required to make it road legal in the country. The Powerland 900d features an independent suspension, all round disc brakes, high/low ratio CVT automatic transmission, winch, two-inch tow bar, mobile charging socket, alloy wheels and a multi-functional digital instrument cluster. Powerland has in-house optional attachments for its tractors, which includes PTO drive, three-point hitch, trailer with a towing capacity of 750 kgs and other farm equipment, making it ideal for horticulture and floriculture. It also functions as an effective machine for defence, snow-ploughing, beachpatrolling, fire fighting, forestry, etc. Its latest offering, Powerland 900dS, is a refined design and the quality has been enhanced too. The new projector head lamps and daytime running lights added to the new model give a premium look to an already robust and stylish-looking vehicle. The beginning The founder Narayan Naik has been in the business of making fishing ropes for the last 30 years. His association with the automobile business also dates back to when he became a dealer for BMW in Goa since 2008. Tej Naik, upon

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(L-R) : Narayan Naik, Tej Naik, Jeet Naik

completing management studies in United Kingdom, returned to Goa and started a manufacturing facility for auto accessories. Interestingly, he participated in go-kart races across the country. Narayan Naik expounds on how the idea to manufacture tractors came about, “The idea of manufacturing a farm tractor struck us 10 years ago. Initially, we tried to negotiate with an American company but the Indian market was not ready at the time, nor was the company interested in setting up here. So the project did not kick off. “Later, we decided to revive the idea within India and started working on it. Our main challenge was to get it road legal. Now we have our vehicles and even the American players have entered the domestic market, but they are yet to get road legal status.” Powerland developed the vehicle in such a manner that it is considered a farm tractor as that was the only way to make it ply on roads as the ATV category doesn’t legally exist in India. It took the automaker more than two years to procure the necessary approvals from the International Centre for Automobile Technology (i-CAT) and Automotive Research Association of India (ARAI). Powerland ATV was incorporated in 2014 and by January 2016 the certification process was completed. It established its office in Margao while the assembling work is being done at its industrial unit in Verna Industrial Estate. The product was crafted keeping Indian needs in mind, therefore multi utility, fuel efficiency, and pricing was given maximum emphasis. The vehicle has now gained popularity for its attractive features and they have been getting a lot of enquiries from European

markets. ATV vehicles in the foreign market usually run on petrol engines as it is next to impossible to meet the diesel engine emission standards for a small manufacturer. Powerland has been able to effectively do that despite having limited resources. Tej Naik says that it is difficult for a small company in India to raise capital, “Financial institutions don’t approve loans easily. An entrepreneur has to put all his assets at stake to make his dreams a reality. Which is not an encouraging step for any business.” Powerland is in talks with manufacturers from Bengaluru to develop a tractor equipped with a firefighting mechanism. It will have high pressure pumps fixed with a water container with a carrying capacity of 700800 liters. Tej Naik sees US auto giant Polaris Industries as its main rival in the ATV segment in the domestic market. “While they have entered the Indian market, we are the first to get the government certification. We are focused on the utility side while the US automaker is focusing on the recreational side. They give their customers more speed and power while we offer fuel efficiency, wider application and reasonable pricing. Our vehicle can carry double the load while towing than what the American-manufactured vehicle promises,” Tej Naik revealed. Powerland has its dealerships in Telengana, Maharashtra and Kerala. In other parts, sales are monitored by dedicated agents based in Jammu & Kashmir, Himachal Pradesh and Punjab. Narayan Naik foresees a huge demand for farm tractors in Kerala due to rubber and

coffee plantations. Similarly, he expects demand to scale up in snowy regions due to its wider application. Powerland is currently working on EU certification, which will help it penetrate the European market. They are expecting a successful foray into Europe as their vehicles will be available at half the price of what competitors are offering. They claim they can afford to do this because they have started to source components locally. Speaking about challenges faced before their pathbreaking vehicle was launched, Narayan Naik says they suffered due to demonetisation, an SC ban on vehicles at Bharat Stage III (though it didn’t apply to their product, RTOs refused to register their vehicles, and then the GST implementation. Fortunately, they were

able to clear all hurdles, and the business has stabilized. Upcoming Projects Powerland is now set to launch an electric tractor. If they obtain the licenses required, Tej is confident the vehicle will be on the road in a few months. He expects government subsidies on such electric tractors that can help revive the distressed farming sector in the country,

“We want to keep the pricing similar to the diesel vehicles, however costing will increase since we will be one of the first companies in the world to use lithium-ions in the electric vehicles. Most of the companies use lead acid to cut production cost.” In the near future, Powerland will be entering the mass mobility segment with its electric platform chassis for buses. The

platform will have an electric motor, chassis and battery and will be supplied to bus builders across the country. The promising project will be priced fairly lesser than the international player currently in the Indian market and it will yield 250 kms/charge. “The Goa government is using one such electric bus, which costs `2.5 crore. Our aim is to bring that down to `80-85 lakh for the entire bus. We’re talking to various investors, financial institutions for the funding as it is a massive project. It will take 7-10 months only for government approvals. We will have to send it to three different places for testing. This can happen only with the state government’s support,” comments Narayan Naik, on the project which has the potential to revolutionize public transport in the state

MARCH 2018 | Business Goa industry Dossier | 45


BMW 6 Series Gran Turismo rolls out T

he first-ever BMW 6 Series Gran Turismo has rolled-out of BMW Group Plant in Chennai. Dr Jochen Stallkamp, Managing Director, BMW Group Plant Chennai said, “BMW Group Plant Chennai is proud to roll-out the first-ever BMW 6 Series Gran Turismo in India. The BMW 6 Series Gran Turismo is not only a unique concept, but also makes a significant mark through its advanced engineering, technology and innovations. Now locally-produced in India, it will create a novel segment and set new benchmarks in the Indian luxury car segment. As always, BMW Group Plant Chennai is committed to deliver the best-in-class products for discerning customers who value the highest level of

Dr. Stallkamp (MD, BMW Group Plant Chennai) with the BMW 6 Series Gran Turismo

quality in every detail.” BMW Group Plant Chennai locally produces the BMW 3 Series, the BMW 3 Series Gran Turismo, the BMW 5 Series, the BMW 6 Series Gran Turismo, the BMW 7 Series, the BMW X1, the BMW X3 and the BMW X5. BMW Plant Chennai will

start the local production of MINI Countryman in 2018. Following the approach ‘production follows the market’, BMW Group India has systematically accelerated its localization program in India. It has already strengthened its long-term commitment to the Indian

TVS launches its first 125cc scooter


VS Motor Company, a leading manufacturer of two-wheelers and threewheelers in the world, unveiled its first 125cc scooter, TVS NTORQ 125. Designed for the youth, TVS NTORQ 125 has been developed based on the TVS Racing pedigree and comes with the state-of-the-art CVTi-REVV 3 Valve engine. The scooter also marks the launch of an exclusive technology platform – TVS SmartXonnect, making it India’s first connected scooter. Commenting at the launch event, Aniruddha Haldar, Vice President (Marketing) Commuter Motorcycles, Scooters & Corporate Brand, said, “Its a sporty, stylish, high performance and a technology loaded scooter. This scooter has been concpetualized and engineered for the youth. Apart from being a fantastic ride and overall automotive offering, it is also India’s 1st Bluetooth connected scooter. TVS NTORQ 125

SM Nivasan, General Manager - Sales and Mr Benoy Antony, General Manager Marketing, TVS Motor Company

has all it takes in form style, performance, features and technology to deliver customer delight to the youth of India.” TVS NTORQ 125 embodies an aggressive style with a signature tail and LED tail lamps. The sharp cuts of the scooter accentuate its appeal, lending it a tapering, sporty look. Equipped with

46 | Business Goa industry Dossier | MARCh 2018

a stub muffler, an aggressive headlamp cluster and textured floor board, it has diamond cut alloy wheels which make a distinct style statement. The scooter gets the new generation CVTi-REVV 124.79cc, single-cylinder, four-stroke, three-valve, aircooled SOHC engine that churns out 6.9kW@7500 rpm / 9.4 PS @7500 rpm and 10.5

market by increasing the level of localization at BMW Group Plant Chennai up to 50%. Recently launched at Auto Expo 2018, the firstever BMW 6 Series Gran Turismo has been rolled-out in a locally-produced petrol variant, the BMW 630i Gran Turismo Sport Line. The diesel variant will be launched later in 2018. The first-ever BMW 6 Series Gran Turismo has the distinction of being the founder of its genre. It is a unique concept combining luxurious spaciousness, long distance comfort of a luxury sedan and modern functionality in an alluring coupé style. It combines an exceptionally spacious interior with maximum comfort, without compromising on the trademark driving pleasure

Nm@5500 rpm. The ergonomics of TVS NTORQ 125 is developed with supreme focus on comfort and convenience of the rider. The scooter gets wider 110x80x12 tubeless tyres along with telescopic suspension and least turning radius to facilitate travel across all kinds of terrains. Features such as pass by switch, dual side steering lock, parking brakes and engine kill switch are focused on creating a fulfilling ride experience. To facilitate convenience of use, TVS NTORQ 125 comes with external fuel fill, USB charger, large under-seat storage and TVS patented EZ center stand. Equipped with unique Daytime Running Lamps (DRL), TVS NTORQ 125 is available in the colour selection of Matte Yellow, Matte Green, Matte Red and Matte White. It is loaded with 30 industry-first features. The TVS NTORQ 125 will be available at an attractive price of `60,950



Bio-Entrepreneurship, Grant-Writing, and Funding Opportunities Workshop held at BITS Pilani Industry experts exchange ideas with students


ITS BIRAC BioNEST, at BITS Pilani, K K Birla Goa Campus recently organized a full-day workshop on ‘BioEntrepreneurship, GrantWriting, and Funding Opportunities’. Participants were addressed by Dr Srini V Kaveri, director, CNRS Office in India, Embassy of France, Service for Science and Technology New Delhi; Dr Sangam A Kurade, founder, Zuari Foods & Farms Pvt Ltd, Goa; and Amruta Gore, assistant manager – Impact Projects, Venture Center, NCL Innovation Park, Pune. Faculty Mentors from BITS Pilani – K K Birla Goa campus included Mridula Goel, in-charge, BITS BIRAC BioNEST, and faculty in-charge, CIIE; Sunil Bhand, technical director, BITS BIRAC BioNEST, and dean, Sponsored Research & Consulting Division (University wide); and Srikanth Mutnuri, technical director, BITS BIRAC BioNEST, and partner, Bactreat Environmental Solutions. Dr Srini emphasized, “Research grants should be applied for not only money, but for the prestige associated with it.” He presented a detailed guideline / basic rules to apply for grants. He stressed that having a person specialised in reading the guidelines regarding the project can also be considered. He introduced the students to

different organizations like European Research Council (ERC), National Center for Scientific Research (CNRS) and Sorbonne University, France. The presentation session started with Prof Srikanth Mutnuri, founder of Bactreat Environmental Solutions. His organization works with the objective of isolation and production of specific microorganisms and development of enzymes from lab scale to large scale production and subsequent application for the decontamination of polluted sites. The company provides solutions for treating contaminated sites and has focused on wastewater treatment. Prof Srikanth, in his presentation, drew the 10 steps that every researcher has to pass before reaching to the level where the product can be brought to the consumer. The presentations during the workshop included current research, ideas and projects which the participants wanted to take to the market. Out of 16 participants, nine made their presentations to seek guidance from the experts related to making their researches/projects/ideas more appealing for applying for grants. They looked for advice related to other technical, administrative and management aspects in converting the proposals to

48 | Business Goa industry Dossier | MARCh 2018

entrepreneurial start-ups. Amruta Gore from Venture Center, NCL Innovation Park spoke on current grants available for incubation and innovative products. She explained the role of venture center and NCL Innovation Park

in supporting startups. Gore further provided a comprehensive guideline regarding the DBT-BIRAC’s Biotechnology Ignition Grant (BIG), which greatly benefitted the participants. The sessions were summed up by Dr Sangam A Kurade who said failures are the best teachers. He appreciated the efforts of the participants who presented their ideas and commented on the individual requirements of the projects. Kurade also added that research is a great opportunity and research and business may rarely go hand in hand. He motivated researchers to continue doing research and help entrepreneurs make new products available in the market



Across: 1. Online ticket booking company (10) 5. Organization of workers (5) 7. Public urban transport mode (4) 8. Material with types like banana, bond, book (5) 9. London Interbank Offered Rate, in short (5) 11. Bodh ____ – site of Buddhist enlightenment (4) 13. One who abstains from all animal products (5) 14. Put money into financial schemes with goal of achieving a profit (6) Down: 1. Capital of Slovakia (10) 2. American talk show host and actress (5) 3. Memorandum of Understanding, in short (3) 4. Industry that Aristotle Onassis was associated with (8) 6. Country in which the Svalbard seed vault is located (6) 8. Italian beer brand (6) 10. Buy One, Get One Free – as it is commonly known (4) 12. Broadband & Fibernet provider (3) answers to crossword 98 Across 1. Foodpanda 6. Roe 7. Wizard 8. Toner 9. ACC 10. Jamia 11. Najma 13. Kaya 14. Blu Down 1. Fire 2. Overtime 3. Pawanhans 4. Nazara 5. Air Deccan 10. Jack 12. JMA



Author Ninad Karpe Publisher Popular Prakashan MRP `250

Strategy lessons from the best business gurus C orporate strategies cannot be taught, they are traits that need to be acquired and modified through your understanding of different successful individuals and their incredible work that speak volumes of their successful journey. That is the exposure most B-schools are trying to provide their students through their faculty base that has hands on experience in the field of business. But if you are looking for a simpler option to gain a better understanding of successful business strategies, you will definitely benefit from Ninad Karpe’s storytelling art evident in his book BOND to BABA. Ninad Karpe, director of Aptech Limited and chairman, Western Region at the Confederation of Indian Industry draws corporate strategy lessons from real life examples across entertainment, sports Ninad Karpe

and politics compiling these exceptional success stories and strategies in a single book. Karpe makes parallels with movies featuring James Bond and analyses the brilliant strategies followed by Baba Ramdev. Karpe’s expertise in the corporate world has also managed to throw light on the various events in Baba’s life that management students can learn from. ome strategies that the book touches upon in the entertainment industry is the value of good content that captivates audiences even if the movie is not star-studded, and local content of films that caters to local taste, but has a global market. Quoting the example of Sairat, a Marathi film which

grossed over 100 crore rupees, the author explains how Sairat which originally catered to the local Marathi population through its captivating story saw the film being screened in over 200 theaters outside Maharashtra – in Karnataka, Kerala, West Bengal and even some Gulf countries. Similarly, in Hollywood, movies featuring James Bond too serve an educational purpose. The USP of the book BOND to BABA is that it is light to read yet brings home the strategies that are relevant to the ever changing business ecosystem. It appeals not only to management students, but also to people from different walks of life. The subjects range from the conquests of Alexander the Great to movies like Bahubali, Sairat and those featuring Bond, to games such as kabbadi, football and formula racing. Also touched upon is the meteoric rise and ebb of politicians like Arvind Kejriwal and Hardik Patel

MARCH 2018 | Business Goa industry Dossier | 49



Looking over a perfect landscape Manguesh Prabhugaonker spends quality time on being an advocate of the architectural profession



s the role of an architect restricted only to designing or does he have a larger role to play in the scheme of things? Architect Manguesh Prabhugaonker is definitely proof of the latter. With an array of prestigious projects, several accolades to his name and a number of academic papers published professionally, Manguesh Prabhugaonker has made his presence felt in the highly competitive industry of architecture not only in Goa, but also the whole of Asia. Speaking about his inspiration to venture into such a competitive industry, Manguesh says, “I have always enjoyed rearranging and reorganizing things at home, in terms of interiors. I have always had an inclination towards art. Art and architecture go hand in hand; and I think I chose to venture into architecture because I wanted to explore my creativity in this field.” Manguesh holds a Bachelor in Architecture from Goa College of Architecture and Master of Landscape Architecture from School of Planning and Architecture, New Delhi. Acquiring as much hands-on and practical experience in the field whilst balancing his academic work is what gave him an edge over others in the profession, as well as helped him jumpstart his career. Right after he graduated from SPA in 1994, Manguesh returned to Goa and set up his firm, Prabhugaonker & Associates. The firm has undertaken projects in Goa, Karnataka, Tamil Nadu, and Pune. Keeping up with universal trends, the firm focuses on emerging forms of digital architecture and e-networking that can operate all over India. Prabhugaonker & Associates thus stands as an architectural design studio with a passionate team divided into architects who design, and those present on site, as well as engineers. The firm’s biggest strength is their deliverability. Working efficiently and methodically through the various steps involved from design to execution, the firm boasts of a 100% deliverability rate on all projects. Prabhugaonker & Associates, under Manguesh’s leadership, is a frontrunner in sustainable, energy efficient architecture, and can also be recognized for avant-garde design and a commitment to architectural education. In contrast to 20-30 years ago, the world of architecture is evolving. The traditional methodologies are being 50 | Business Goa industry Dossier | MARCh 2018

disrupted by the emergence of new trends and, in particular, digital architecture. Manguesh Prabhugaonker’s areas of expertise include preparation of environmental management plans, architectural designs for projects like Amby Valley in Lonavala, IFFI 2004, Grand Hyatt, Aldeia De Goa, and several other projects in the public domain of Goa, enhancement proposals and highway landscaping for highway projects in Gujarat. He has also worked on several important projects funded by international funding agencies like the World Bank and on other projects funded by national agencies and local bodies, like NHAI, State PWDs and others. From leading his firm to executing day-to-day activities, Manguesh still finds time to take on more roles. He is presently the chairman of The Indian Institute of Architects (Goa Chapter); member of ISOLA (India Society of Landscape Architects); associate member of Indian Institute of Interior Designers; chairman of Housing & Real Estate Committee at Goa Chamber of Commerce and Industry. He was also an ex-adjunct professor at Goa College of Architecture, for the past 24 years. As chairman of The Indian Institute of Architects (Goa Chapter), he has been proactive not only in safeguarding the interests of the architectural profession, but has also played a key role in contributing to the various aspects of

planning and development in the state. He was the first chairman in Goa of the Indian Institute of Architects (Goa Chapter) to be awarded the prestigious Best Chapter Award for the state of Goa at a national conference held in Kolkata in December 2015. As chairman of the Housing & Real Estate Committee at GCCI, his role focuses on different initiatives to be undertaken by the government, to understand the methodologies of the real estate industry, which includes, understanding RERA, upcoming planning processes, and other major projects. In this role, Manguesh also addresses different societal issues such as promoting affordable housing and the need to adopt a proper planning approach to slum areas. With over 24 years of varied experience in the fields of architecture and landscape architecture, Manguesh shares his plans for the future, “I would like to continue to work on a roadmap which promotes sustainable development in Goa in terms of emerging building technology by receiving and maintaining the architectural identity of Goa. On a national level, I would like to initiate a mission of sensitizing our architects and various stakeholders by spreading awareness of architects’ social responsibility in issues related to housing, sanitation, power, heritage conservation, disaster management, ethical practices, environmental issues, policies and urbanization.” “Architects have to understand the architectural character, identity, context, cultures, diversity, evolution, historical connections of the past, and sustainable and futuristic forward strategies as needed by our building industries and stakeholders.” He further advises youngsters leaning towards venturing into this highly competitive field to get involved with the practical side as well as the theoretical side of architecture from early on. With his erudite pursuits and grand aspirations, Manguesh Prabhugaonker is definitely an inspiration to those aspiring to follow in his footsteps


Kirti Maujekar is Mrs Gomantak


irti Maujekar was crowned Mrs Gomantak while Aksha Shankar Naik and Indira Paresh Raut were declared runners-up. The contest was organized by Goa’s first Marathi daily, Gomantak, which is celebrating its 55th year. Before the results were announced, Master of Ceremonies Govind Bhagat asked a capacity audience at the Dinanath Mangueshkar Kala Mandir who their choice was and the resounding response was “Number 18”, which happened to be Kirti Maujekar! Hailing from Taleigao, Kirti won `20,000 cash sponsored by Cam Mops & Tools, a crown sponsored by Phorum Jewels, and attractive gifts courtesy Chandraroop Sarees, Kolhapur in addition to special discount coupons from Shree Decor. Porvorim resident Aksha Naik won `15,000 cash from Cam Mops & Tools, a crown and other prizes. Indira Paresh

contest, from which 20 were selected for the final round. At the beginning of the grand finale, the contestants introduced themselves in many innovative ways. They told the Kirit Maujekar (centre) flanked by Aksha Naik and Indira Raut audience about their families, spouse, career Raut won `10,000 cash and selection etc using poetry and other goodies. All the finalists other skills. In the next round, were gifted a one-day stay they presented dances, songs, at Dudhsagar resort by Bay and other talents. In the third Watch resort and Spa. round, the general knowledge Kirti Maujekar was of the participants was tested crowned by Bharat Mevawala with questions covering of Phorum Jewels. Aksha many aspects of life related to Naik was crowned by Pallavi housewives as a companion, Salgaonkar, CEO Desserts person and mother. & More while Indira Raut The contestants were was crowned by Hemant judged by Dr Anupama Nagvekar, Regional Manager Kudchadkar, Asha Arondekar, PMC bank. A total of 150 Sangita Chakravorti, women participated in the

Samiksha Harmalkar Harji, Usha Narvekar and Venkatesh Vasta, who are eminent personalities in their respective fields. Govind Bhagat and Siddhi Upadhye hosted the show with panache. The grand finale was inaugurated by Nikhil Desai, Managing Director of Goa Tourism Development Corporation. Other dignitaries present were Siddhesh Naik of Shree Decor, Sanjiv Karnavat of Chandraroop Sarees, Kolhapur, Anil Lad, editor of In Goa channel, Unnati Shirodkar of Unnati Florist, Umesh Pingle, General Manager Advertising of Sakal Media Group, Kishor Shet Mandrekar, Associate Editor of Gomantak, Dayanand Prabhugaokar, Unit Manager of Gomantak, Harish Hingne, Sr Manager Events of Sakal Media Group, Sachin Powar, Sr Manger Advt Gomantak, and Anil Shelar Sr. Manager Circulation Gomantak

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Joy of Giving Foundation releases ‘Education magazine aspires to act as a bridge Challenge Goa’ magazine The between teachers and students O scar Gonsalves, administrator of Sharada Mandir School and chief trustee of ‘Joy of Giving Foundation’ Utorda unveiled what he called a “dream come true” – a print magazine for the education and learning sector, Education Challenge Goa at the hands of Dr. Mridula Sinha, Governor of Goa. “The human being is an embodiment of body, mind and soul and the development of all these factors together is called holistic development of human which is also required in terms of society, as well,” affirmed Dr. Sinha while speaking as the Chief Guest on the occasion. Dr. Sinha also said that, the relation between students and teachers should be like friends to help develop close affinity among students and teachers so as to enable better communication between them. Dr. Sinha also lauded the magazine Education Challenge Goa, which has set its broad objective to address issues pertaining to education, introducing innovative ideas for the education sector, encouragement to student by awarding

Governor Mridula Sinha releasing Education Challenge Goa, a print magazine for the education and learning sector

scholarship to meritorious students and thereby making its commitment towards a better society. Chairman of the Joy of Giving Foundation and editor of Education Challenge Goa Oscar Gonsalves, in his welcome address, informed that this magazine will address issues of education and explore new ideas so as to enrich the education sector. This magazine, he said will help, guide and motivate the concerned people. The tuition

culture prevalent has blocked the overall development of the student therefore he stressed on the need to inculcate love for agriculture and to develop a civic sense among students. Also present were Immaculate Gonsalves, Sandra Gonsalves, trustees of JGF, Tomazinho Cardozo, Former Speaker of Goa Legislative Assembly and Member of JGF Trust and Prof. Raghuvir Vernekar. Manuel D’Souza compered the function

MARCH 2018 | Business Goa industry Dossier | 53



IDFC Bank launches services in Goa IDFC Bank launched services in Goa, opening its first branch at Swami Vivekanand Road in the heart of Panaji on March 1, 2018. While online banking has been available earlier, with the start of the branch in Goa, customers can now experience the opening of a fully-operational savings account in just four minutes, using Aadhaar-based biometric authentication. The bank will roll out its full suite of products, ranging from savings and current accounts to retail loans and wealth management services. IDFC Bank’s branch at Panaji was inaugurated in the presence of dignitaries including Sidharth Kuncalienker, chairman of EDC Ltd, former MLA of

Amit Kumar, head of Personal banking, and Zonal Head Manish Talwar speaking at the launch

Panaji; Arjuna Awardee and former Indian football captain Brahmanand Shankhwalker; President of the Goa Chamber of Commerce and Industry Sandip Bhandare,; and Founder & Managing Director of Mangal Analytics and Research Consulting Pvt Ltd., Ashutosh Kharangate. Over the past two years, the Bank’s digital framework has nurtured innovations in

product, channel and most importantly, service. These elements come together to create a customer engagement that is unique to IDFC Bank and this experience is now brought in to the residents of Goa. Amit Kumar, Head, Personal Banking, IDFC Bank, said, “Our objective is to offer top-of-the-line banking services to all

customer segments ranging from salaried individuals to merchants and small businesses, as well as the populace in rural locations. We have used technology to make banking easy, create wider reach and anytime access.” IDFC Bank’s offering emphasises convenience and service. Its suite of digital solutions includes paperless opening of savings accounts in 4-minutes, tab-opening of current accounts, a fully simplified mobile app, omnichannel experience, instant loans made possible by an integrated technology architecture, a combined savings and current account and a 24x7 Banker-on-Call service

Bloom launches multiple properties

Beach campaign completes 100 Days

With its cutting-edge hotel concepts and next generation technology driven product the Bloom Hotel Group has been conservative in its growth plans. This, however, seems to be in the past, as the brand has quietly moved their expansion plans into top gear. The much acclaimed and often emulated Bloom Hotels in typical fashion has initiated this plan in a measured and well thought out manner, starting with multiple launches in Goa. The roll-out commenced with the newly minted BloomSuites brand launching a flagship 130-room hotel in the heart of Calangute, followed a few weeks later by a second 52-room hotel under

The #TeraMeraBeach campaign completed 100 days on March 5, 2018, witnessing a large number of tourists and visitors enjoying the fantastic beats of Thaalavattam as the sun set over Miramar beach, one of Goa’s most popular beaches. The public awareness campaign is aimed at educating people on cleanliness and beach management along the coastal stretch. The celebration kicked off in November with tourists and visitors drumming to the rhythmic beats of Djembes, followed by the adorning of the art installation at the beach with various items of waste collected during the clean-up drive.

the Bloomrooms flag in the same market. Bloom Hotel Group’s Vice President of Strategy, Tom Welbury who joined them from Procter & Gamble in the UK, drives a highly disciplined concept development and execution process to ensure Bloom’s internationally recognized brand standards are never compromised. He summarizes the approach, “We are deeply passionate about predicting the future needs of our travelers, helping us truly design superior guest experiences. Now that we’ve got it right in Delhi, Gurgaon and Bangalore, we are very excited to treat travelers to the award-winning Bloom experience in Goa”

54 | Business Goa industry Dossier | MARCh 2018

Richard Dias, MD, Saligao Waste Management Plant spoke on the occasion, “The litter comes from us. We are the reason there is garbage. We need to point the finger at ourselves and say that we are the ones creating garbage. Once we acknowledge this fact, we will be able to reduce the amount of garbage we produce. We need to segregate waste into dry and wet waste and treat the waste accordingly.” Through #TeraMeraBeach Drishti Marine in association with Taal Inc. will educate visitors on waste generation and waste management through music and art to raise awareness on keeping Goa’s beaches clean


UNLIMITED, the family fashion store opens at 1930 Vasco Unlimited, The Family Fashion Store, the valuefashion retail initiative of Arvind Lifestyle Brands Limited, opened its 77th store at 1930, Vasco recently. Located at 1930 Vasco, Unlimited offers on-trend garments and accessories for men, women and kids across a sprawling 12,000 square feet of shopping space with four floors and ample parking space in the basement. The store was officially launched by children from a neighbourhood orphanage in the presence of the Head of Operations, Unlimited Prashant Paul, Vasco MLA Carlos Almeida, Managing Director of NRB Group Narayan R. Bandekar and the Bandekar family. This small act by the brand is Unlimited’s gesture to live up to its image as a neighbourhood fashion destination and be a part of

the city’s social fabric. True to its name, at Unlimited one can choose from over 45,000 garments across departments, in a plethora of the latest fashion for the entire family. Shopping at Unlimited is designed to give a feeling of boundless happiness, for the sheer variety, the excellent ambience and the helpful

staff. Unlimited aspires to be a fashion destination for the entire family, where there is no compromise between product quality and the latest fashion at the best value. At UNLIMITED, the customers get to choose from a mix of both domestic and international labels, at unmatched prices. Shoppers can choose from Ruggers,

Excalibur, IZOD, Colt, SUGR, Cherokee in western wear and youth wear; Elle Studio, Karigari, Anahi and Bronz in women’s wear and Cherokee Kids in kids wear. Apart from these brands, the customer also gets to choose from a selection of well-known premium partner brands – making for quite literally unlimited choice

MARCH 2018 | Business Goa industry Dossier | 55

people tree / kishore m shah

Barbell syndrome! While organizations invest heavily on senior executives, managers, secretaries and civil service officers, midlevel managerial corps is neglected


recently got a call from one of my management students (probably batch of 2005, Department of Management Studies), now working in middle management for an IT MNC, armed with over 10 years experience, a good academic track record, talented and a thorough professional. I was alarmed by her call, so I rescheduled my plans for the day and scheduled a meeting to discuss what was bothering her. As she narrated her dilemma, I gauged that her managers shirked work or were not capable of working efficiently, while a few performers like her slogged, only to be at the receiving end of the blame game from superiors. The promises of career growth also seemed to have been broken, thereby causing unimaginable stress. My former student was, thus, contemplating resigning. As I was listening to her, I recollected the news printed on page 2 of the Times of India that read “Government machinery is running because some people work” (February 10, 2018). The article also included a remark by Chief Minister Manohar Parrikar, “If the existing workforce worked efficiently, we would be able to run the government with 60% of the staff. Instead of 20,000 employees, we could have 12,000.” The interaction with my student and the article in Times of India came one after the other and had something in common – what I see as “Barbell syndrome”. Barbell syndrome implies that organizations – corporate or government – have undertrained, underdeveloped middle managers for years. Too many organizations have invested heavily in training for civil service officers, secretaries, senior executives and new managers at one end and grassroots employees like technicians/ clerks etc at the other end, while paying relatively little attention to the mid-level managerial corps, creating a “Barbell” approach, which is heavy on the ends, and light in the middle. This has exacted a heavy price in terms of underperforming and demoralized middle managers who lack the networking, planning, and team-building skills necessary to excel in organizational structures or government agencies. A new development approach is needed to help middle managers master the skills and mind-set they need

56 | Business Goa industry Dossier | MARCh 2018

officers, program managers, marketing managers, operations managers, administration managers, heads of departments are midlevel managers who are being asked to do more with fewer resources. They are being held responsible for the success of a project, even if they have no direct organizational authority. But even mid-level managers aren’t ready to lead as they are being asked to The most successful middle influence partners, dive into managers must rely on strong unfamiliar channels, and motivate complex networks influencing skills and the ability of global resources to attain to marshal a complex network of results without any handresources to achieve results holding, with inappropriate performance management systems and to succeed. Agility and technological lack of development, leading to increasing competence are a must. Over the past personal insecurity. decade, the workplace has changed Mid-level managers are always the dramatically. Organizations have driving force behind the execution of gotten flatter, more global, and leaner, organizational priorities. They are the with technology taking over almost all nexus connecting far-flung teams. And functions right from online registration yet ongoing restructuring, the dissolution for NEET/AIMS/JEE to almost all day-toof the career ladder, and persistent day activities, be it booking a cab or going job insecurity have eroded mid-level for a movie or buying groceries. This has managers’ sense of loyalty, frequently pushed managers at all levels to do more leaving them feeling demoralized and with fewer resources while coping with de-motivated. These are managers who uncertainty and a rapid, continuous pace are at risk of burning out and leaving of change. their organization – either physically or There is also a rising number of psychologically – unless proper support contract and part-time employees all and development is provided. working together with vastly different Executives depend on middle expectations. The “psychological managers to execute their company’s contract” between workers and vision and strategy, yet companies are organizations – expectations about not providing middle managers the rewards, recognition, amount and quality development they need to succeed in of work, and loyalty – is also changing. their roles. Even when companies do Along the way, middle managers in have middle management development particular are being asked to essentially programmes in place, these programmes reinvent what it means to be a manager. do not seem to achieve their intended For many mid-level managers, their objectives. role no longer entails issuing orders to Unless middle management subordinates. In fact, mid-level managers development programmes are in flat organizations/government agencies strengthened, companies’ leadership may have very few direct reports. The pipeline models will suffer. New mindsets most successful middle managers must and new skills management are so rely on strong influencing skills and the different from individual work that an ability to marshal a complex network of immense personal transformation is resources to achieve results. required to master them. Some managers Middle managers play a critical role have described their transformation into in the ultimate ability of a company to management as a turning point that is as achieve its strategic goals. Government


significant as leaving home for higher studies, getting married, or becoming a parent. This process can take many years and it can be surprisingly, very difficult. Development depends just as much on practice (doing) and changing one’s mind-set (remoulding self) as it does on learning new constructs (knowing). How often does your organization offer such complete opportunities? Suddenly an individual who has spent his/her entire life measuring success according to their own personal accomplishments must now become accustomed to gauging success according to the accomplishments of a team over which they may not even have direct control. The shift can be jarring, but it is an essential step if an individual hopes to grow and mature into an effective and competent midlevel manager.

Are companies/state governments doing enough to help their middle managers master the right leadership mindset? The answer is no. Outdated performance management systems and appraisals also impact the performance of middle managers. On the one hand, we are beating the drum of transparency, but on the other, governments are still using the draconian “CR” (Confidential Report) and memos. Currently, CR and memos are mostly used as a measure to ruin somebody’s career prospects rather than develop it. But there are some progressive organizations/ government agencies ensuring that their leaders/ ministers spend more time participating in experiential, coaching, and collaborative activities. To evolve as leaders, we have to embrace

the idea that leadership is fundamentally different from managing tasks – neither is superior or inferior. Managers must give up outmoded roles and self-perceptions, while adopting new ways of acting, thinking, and feeling. Most successful leaders/ministers look beyond their own narrow individual contributions to discover broader sources of satisfaction and pride in their team’s collective accomplishments. How many times have you heard a minister openly appreciate officers, taking their names and stating their exact contribution or value added to the job? I would guess that it is rarely done. True power derives from a manager’s ability to establish trust from superiors, respect from peers, and acceptance from direct reports. With stronger mid-level management development

programmes in place, the government/companies can improve morale in managerial ranks, thereby increasing retention of top talent and enriching their leadership pipeline. With proper leadership development and support, one can unleash the potential of their midlevel managers to improve morale, foster collaboration, help the organization more quickly, efficiently respond to changing market/socioeconomic conditions and seize strategic opportunities. And when these mid-level managers thrive, they will fill the leadership pipeline and provide organizations with their next crop of seasoned senior leaders! 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:

MARCH 2018 | Business Goa industry Dossier | 57

beyond classroom / dr pradeep b salgaonkar

Content to engage customers Marketers have to ensure their content is relevant and useful in order to engage the audience


ew years ago, in 2009 to be precise, a friend of mine in a casual academic discussion over a cup of coffee, asked me a sensible question (though I considered it senseless at the time, I was at a loss for not acting upon it), ‘Why don’t you write a blog on customer management? And mention that you are researching the subject and want to get into customer management facilitation and consultancy in the long run?’ Looking back, I realize how farsighted my friend was as far as the future of marketing was concerned. He spoke of content marketing then, and I did not take advantage of the situation. Today, content marketing is an absolute necessity and that is why there are blogs and bloggers everywhere offering people free content. It is now a fulltime career! Concept Content marketing is an age old concept used by companies to promote their products, but did not enjoy the hype it does today. Way back in 1888, Johnson & Johnson introduced a publication called Modern Methods of Antiseptic Wound Treatment targeted at doctors who used bandages. The pharmaceutical industry has been using content marketing for ages through product literature, clinical studies, and similar material to keep medical practitioners abreast of developments in the industry. John Deere launched The Furrow in 1895, a magazine that provided information to farmers on techniques of farming and how to increase profits. This magazine, considered the first custom publication, is still in circulation. In 1990, with the arrival of computers and internet, websites and blogs provided companies with the opportunity to use content marketing via email. However, by the beginning of the 21st century, with innovations in information technology and the advent of social media platforms, ‘content marketing’ became the buzz word in marketing circles. It is believed that a business cannot be successful at customer engagement and retention if it fails to include content marketing in its marketing strategy. Content marketing is a strategic marketing approach whereby a marketer creates and consistently distributes valuable and relevant information to a select, targeted audience, usually

Content marketing, if used with dedication and consistency and without expectation of short term benefits, is a great tool for customer engagement adopting a storytelling technique. Products are not promoted; there are no sales pitches. Rather, useful information reinforcing the brand is provided. Content marketing is used very effectively by leading brands and businesses such as Microsoft, P&G, Cisco, etc. It works by indirectly reinforcing the trust and faith in the brand through the content that is circulated to the audience. This content may tell stories pertaining to the brand and information that the audience would like to know, like the history of the organization, its CSR activities, its contribution to the local population, its employee-related stories, etc. Content marketing is very effective as it leads to customer engagement and retention which in turn leads to increased sales, cost savings and more loyal customers. Content marketing is a long term strategy based on creating strong relationships with customers and building trust by providing them high quality, valuable and relevant content. The ultimate goal is to provide as much value as possible to the target audience. Types There are a number of content marketing methods and platforms available for a

marketer today (a) Blogs – blog posts are the easiest way to tell great stories about the company and build a brand. (b) Infographics – information through graphics, statistics, charts etc provide facts that an audience will rely on. (c) Videos – a great way to tell your story. Recorded videos on YouTube do a great job of telling your story to an interested audience. Live streaming videos to showcase your ‘story in action’ is also an excellent idea, whereby the audience will get to witness the scene first hand. (d) Cases, articles and white papers are also great ways to tell stories to audience. (e) Books and e-books, e-newsletters, and printed newsletters are also an excellent way of content marketing. (f) Webinars, webcasts, podcasts keeps an interested audience hooked on for long periods of time, thereby providing marketers a very good opportunity to engage them through the valuable content shared. (g) WhatsApp – this is a much more powerful and effective method. Any form of useful content could be created and distributed to a select audience with ease. Users This reminds me of a few friends and acquaintances who use content marketing for a select audience via social media, specifically WhatsApp. They have created broadcast groups and share content, either created by them, or from the internet, or content shared by others, with the hope that the audience will find it useful, will remember their offerings and get more popularity and business. I wonder whether all of these

The writer is a professor of marketing, corporate trainer and founder, SALDOTS Academy; and Chairman, Goa Management Association.Email: 58 | Business Goa industry Dossier | MARCh 2018


guys know what they are doing in reality, i.e. purposefully indulging in content marketing or ignorantly forwarding the posts to promote themselves. I will share examples of three of these content marketers from whom I receive content on a regular basis via WhatsApp broadcast. Incidentally, all three provide service offerings to clients. They operate at different levels as far as content marketing is concerned. I will call them Content Marketer (CM) 1, 2 and 3. CM1: He is a life skills trainer and is generally involved in hard selling all over social media. His content is mostly promotional material like photographs of his programs, reports of topics covered, participants’ feedback, etc. Occasionally, internet links of articles are shares, or forwards from other sources. In general, the content is promotional. It has no value and is forced on to me. This is sheer hard-selling, blowing one’s own trumpet to the maximum. And I am sure most people who receive these posts will share the same feeling. This is poor content marketing and will have adverse effects

in the long run. CM2: He is an independent financial advisor. His content is mixed. It includes infographics, videos, articles, reviews by experts, and similar posts from other sources. His posts also carry his own content, like conceptual clarity for beginners, interpretations, leads, future takes, breaking news, etc. Though relevant and useful, at times this content becomes repetitive. There are times when he hard sells. When a particular timebound scheme is repeatedly posted, it becomes an irritant. Overall his strategy works for him. CM3: He is a corporate coach and a consultant. The content flows to the audience on a consistent basis. Every week, a cubicle poster is shared with an original photograph and a meaningful quote. And every month an e-newsletter is shared which has creative and original content on various topics. These are enjoyable, preserved and further shared with others. Value addition occurs here. Every now and then, he shares short

articles written by him; these are usually critical analyses of concepts explained using real time acts or incidences. These are a thought-provoking read. There is never an element of promotion, either of his services or his organization. This is an example of good content marketing. An audience like me will wait to receive his posts and read with interest, while also sharing the same with others. These three examples of content marketing illustrate what is to be done and what not to push on to an audience, as they are sensitive and look for value in everything. Content marketing, if used with dedication and consistency, without expectation of short term benefits, works wonders and serves as a great tool for customer engagement. It is a long term strategy and one needs to continuously provide value through shared content to the target audience. Marketers have to be cautious about the content, as value and relevance lies in the minds of the consumer and it can be perceived as anything from relevant and useful to nonsense and useless. You need to emphathise with the consumer before pushing content to them

MARCH 2018 | Business Goa industry Dossier | 59

Letter from America / JAY dehejia

Negotiating salary/raise You’ve bagged the job of your choice, now it’s time to negotiate a good package. Jay Dehejia tells you how


ost of us believe that negotiating a salary for yourself, and especially with a multinational company operating in India, is possibly the most stressful time of one’s life. It need not be that way. Think about negotiations as an art, not a science. Think deep and you will realize that you have been a pretty good negotiator from age one! Any time you, as an infant, wanted to be picked up, or wanted your milk, all you had to do was to scream at the top of your lungs. More often than not, you ‘won’ that negotiation; you were picked up, cuddled, and soothing words were said to you, not that you understood anything. But you got what you wanted, what you had set out to get. You are sitting in front of an Indian executive from the Human Resources Department of a multinational company. The person exudes confidence in that nicely decorated office, and possibly shows some of the trappings of having returned from a training program at the company’s headquarters. You, on the other hand, are probably ready to sign up any contract that is handed to you. You have assumed that the multinational company is likely to give you a salary better than an Indian company. You are already dreaming about being sent abroad for international exposure. You are delighted that you have got past all the interviews and are now at the last stage of your negotiation. All that you are looking at is your date of starting at the multinational company. If some of the above is true then you have failed in your ‘homework’! In job and salary negotiations, we sometimes “get our own way,” write Deborah M Kolb and Jessica L Porter in their book Negotiating at Work: Turn Small Wins Into Big Gains (JosseyBass, 2015). We may fail to recognize opportunities to negotiate, focus only on our weaknesses, and make the first concessions in our own heads before the negotiation even begins. These internal dialogues are where the first concessions in the negotiation are made, write Kolb and Porter. Kolb and Porter suggest ways to address the question of how to negotiate salary. Begin by gathering information so that you will feel that what you are asking for is defensible. Prepare to explain the value you would bring to

A good negotiator starts from a feeling of strength. Put yourself in a gift-wrapped box, and then negotiate the best outcome for that beautiful box. You know that you are better able to negotiate for others than for yourself the organization. Develop alternatives to the current negotiation to increase your flexibility at the table, and remember that the other party’s alternatives may be less attractive than yours. When negotiating a salary or a raise, most people become their own worst enemies. A good negotiator starts from a feeling of strength. Put yourself in a giftwrapped box, and then negotiate the best outcome for that beautiful box. You know that you are better able to negotiate for others than for yourself. There are several strategies that you may want to consider before starting negotiations for a salary or a raise. Let us consider some important elements. Harvard Law School’s program on negotiations gives us food for thought. We list some of their key elements below. Do not think about your immediate base salary as the only consideration to accept or reject the offer. Consider your total compensation as a package. Are you likely to get a salary increase based on your performance, or based on corporate or group results? Does the compensation include other benefits like a housing allowance? Would you get an allowance for your transport? Many companies offer subsidized loans to buy a flat. There are others who offer a subsidized meal plan. An important factor to consider is your own ‘happiness factor’. Some corporations, especially consulting firms or financial institutions, offer a better than normal salary. But they also expect you to spend a lot more time working on projects at the office, leaving no time for family or friends. Some institutions expect you to travel away from home for five days a week. Negotiate for your own long-term

success. The job you are about to take is not your final job; think how it will set you up for the next upwardly mobile assignment. Now you can negotiate for the tools you need to grow and thrive, such as resources, a strong support staff, and a title that will set you up for a future career goal. How far into the future should you look? Choose time horizons based
on your age and experience. Recent college graduates and MBA students may want to plan only one or two years ahead until they find their dream career. For more established professionals, five-year benchmarks might make more sense. There are different negotiating strategies for different companies. If you are interviewing at one of the large multinational corporations, they may have relatively fixed plans for salaries, but may be flexible on what you consider your ‘happiness index’. If on the other hand, you are interviewing for a job at a start-up IT firm, you should expect to see a lot of leeway from the employer. It is important to remember that a ‘collaborative’ negotiation style is likely to improve the total compensation plus happiness package, rather than a confrontational way of negotiating. Before you go into the final ‘nuts-andbolts’ of the salary negotiations, consider your BATNA (Best Alternative to a Negotiated Agreement). If this is the only offer you have received, and are unlikely to get another for six months, you may want to have a conciliatory approach. In 2014, the journal on Negotiation Briefings published by Harvard suggested thinking over the results of a 2013 Gallup survey of 230,000 employees in 142 countries that found that only 13% of respondents felt engaged by their jobs. This statistic suggests that while many people are capable of getting a job, it is not necessarily one that they will find enjoyable and fulfilling in the long run. To negotiate for employment that we find more than just tolerable, we must overcome three common traps: (1) not considering what we will truly value in life; (2) holding ourselves back in job negotiations; and (3) failing to recognize our relative bargaining position. We hope you negotiate a total compensation that meets your requirements for the present and the future

The writer used to be a senior corporate executive. Now social entrepreneur. He spends most of his time between Goa and New York. Email: 60 | Business Goa industry Dossier | MARCh 2018

corporate citizen / Daniel Albuquerque

The Automation Mantra

Automation answers numerous needs of our times and provides youth a great opportunity to develop their careers


he Goa Chamber of Commerce and Industry (GCCI) conducted a two-day seminar on Business Process Automation in April 2017. In its characteristically quiet way, Goan industry is making significant contribution in this field. However, we will reflect on this later in this article. First, some concept clarification: For instance, what is the difference between automation business and business process automation? Automation is to eliminate the direct human element in performing a task; for instance, robots working on a car assembly line. Computer-programmed hardware is employed to perform such tasks automatically. This involves two aspects: firstly the hardware; secondly, the software. The commerce in both these is business. Further, you may run this business more efficiently through business automation. It is when running a business is formalized and integrated into software. It is then known as business process automation. When you use another such appropriately formalized and integrated process for robots, it is known as robotic process automation. Further, if you make these robots perform tasks intelligently based on Artificial Intelligence, then it is called as intelligent process automation. This, the final one, we have already dealt in my last column under Artificial Intelligence (AI). Let us consider two examples of multinational companies in the automation business of hundreds of billions of dollars where India contributes significantly: Schneider Electric India (www., headquartered in Gurugram, Haryana, which came to India in 1963 in collaboration with Tata Sons, is presently the leader in industrial and home automation products. Even a cursory look at their website fills you with awe at the range of products. The company’s claim says it all: ‘We create technologies that recreate industries, transform cities and enrich lives.’ It is not a tall claim at all. Their product list is from A-Z that reads like a huge directory. ABB ( is another giant of a global company which began operations in India in 1949, a couple of years after independence. This Swedish firm

founded in 1883 conducts its operations in India from Bengaluru. Among other products, it deals in automation, power and distribution. It describes itself as a pioneering leader in technology, industry, transportation, infrastructure and industrial digitalization. The other noteworthy companies from Mumbai include Titan Automation Solution, founded in 1984 (www. and Voltas Ltd, which was founded in 1954 (www.voltas. com). On the other hand, Business Process Automation (BPA) consists of development of those software systems which facilitate business processes with less or no hands-on interventions. Such Business Process Management (BPM) helps mainly to streamline communication, enforce accountability, and to keep up approval order or hierarchy. SAP SE, ( the German software giant, was founded in 1972 and is present in 180 countries of the world. It is a world leader in Workflow and Business Process Management. In India, it began its operations in 1996 and today operates from all the major cities of the country. There are scores of automation products to help develop business process management. For instance, SAP ABAP workflow streamlines business process entirely from within the SAP server. It is used for procurement, leave, travel and several such approvals. SAP PI BPM is a cross-system integration that processes higher level processes between disparate systems. It is used, for example, to process sales order acceptance, a process where several different systems need to be cross-checked such inventory, availability, date, quantity, etc. There are other systems for workflow management such as user experience, modelling tools to do so; data management processes to avoid duplication, maintain referential integrity and broadcast to customers. ADAGE ( is a Process Analytical Solutions company situated at Verna in Goa. Founded in 2001, it is a very young and fast growing company which not only has a pan Indian presence, but is significantly export-oriented. Its speciality lies in gas analysis that delivers

integrated and engineered solutions to large and mid-sized industries for process optimization. It also deals with safety and emission monitoring applications. It provides services to oil and gas, chemicals, refineries, petrochemicals, gas utilities, power generation, manufacturing and automotive industries. It collaborates with Siemens AG, Germany. Their products are able to deliver complete and comprehensive management services from design to project engineering, from procurement activities to delivery, from testing to commissioning. Chemtrols (www.chemtrols. com), established in 1975 at Kundaim Industrial Estate, Goa, has a well defined portfolio – control of processes in chemical process industries. This consists of process analytics, environment emissions monitoring, flow and terminal automation, steam engineering and utility management systems. It serves mainly the cement, steel, oil and gas, power, fertilizer, chemical and petrochemical industries. For the youth of Goa there is a great opportunity to develop their careers in business process automation. Opportunities are in the offing in the areas of scientific mining, marine science and technology, travel and tourism, apps for business and scores of other openings. There are already some very enterprising youngsters who have come together after their engineering studies in various fields to found start-ups. The problem, as always, lies not in the dearth of talent but in funds, endowments and financiers. Automation answers the needs of our times: a) orchestration for organizations to build systems which provide business process management; b) integration of various functions of the given business; c) minimal human intervention through comprehensive automation. However, I would like to conclude with a realistic quote from Bill Gates: “The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency” read your digital copy on>

The author is a writer with Oxford University Press and a published author MARCH 2018 | Business Goa industry Dossier | 61


Canteen workers’ rights Are canteen workers employees of the contractor or the principal establishment? A Supreme Court judgment provides the answer


ay back in August 2014, the Supreme Court, in an epochmaking decision in Balwant Rai Saluja v Air India Ltd, Civil Appeal Nos 1026410266 of 2013, decided adversely on the claim of the canteen workers for regularization in service of the principal employer. The three-judge bench comprising of H L Dattu, R K Agrawal and Arun Mishra deliberated on whether the workmen engaged in statutory canteens, through a contractor, could be treated as employees of the principal establishment. This came up from a reference made by a two-judge bench of the Supreme Court as contrasting opinions were made by the said bench on the subject. The Supreme Court held that the workers engaged by a contractor to work in the statutory canteen of a factory would be the workers of the said factory, but only for the purposes of the Factories Act, 1948 and not for other purposes; and further for the said workers to be called the employees of the factory for all purposes, they would need to satisfy the test of employeremployee relationship and it must be shown that the employer exercises absolute and effective control over the said workers. In the case, workers of the Hotel Corporations of India Ltd (HCI), a subsidiary of Air India and contractor for canteen of Air India, contended that they should be treated to be the deemed employees of the respondents – Air India Ltd as they work in the canteen established in the Air India Premises and that too for the benefit of the employees of the respondent. The two-judge bench differed in their opinion on the said matter on the aspects of supervision and control exercised by the respondents over the appellants i.e. the issues surrounding the economic dependence of the subsidiary (HCI) on Air India, role of Air India in management and maintenance of the canteen premises, representation of workers, modes of appointment and termination as well as resolving disciplinary issues among workmen. The Court, taking into account the facts of the case and various judgments of the Court, held that the appellants would be workmen of Air India, but only for the purposes of the Factories Act and solely

The Supreme Court held that the workers engaged by a contractor to work in the statutory canteen of a factory would be the workers of the said factory, but only for the purposes of the Factories Act, 1948 and not for other purposes by virtue of this deemed status under the Factories Act; the said workers would not be able to claim regularization in their employment from Air India. The Court, during the course of judgment, relied on earlier decisions of the Court in the following cases. a. Indian Petro Chemicals Corporation Ltd, and another vs Shramik Sena and others 1999 LLR 961 wherein it was held that the Factories Act does not govern the rights of the employees with reference to recruit, seniority, promotion, retirement benefits etc. These are governed by the other statutes, rules, contracts or policies. Therefore, the workmen’s contention that an employee of the statutory canteen ipso facto becomes the employees of the establishment for all purposes cannot be accepted. The workmen of a statutory canteen would be the workmen of the establishment for the purpose of the Factories Act only and not for all other purpose. b. Harishankar Sharma and others

vs Artificial Limbs Manufacturing Corporation and others AIR 2002 SC 226. The employees of the contractor could not set up the plea of their being the employees of the principal employer. The facts and agreement between the contractor and the establishment showed that the control over appointment, confirmation or dismissal from service of workmen was exercised by contractor and not the establishment. Workmen of the statutory canteen are the employees of the contractor and cannot claim to be regular workmen of the establishment. c. Workmen of the Canteen of Coats India Ltd, vs Coats of India Ltd, and others 2004 SCC (L&S) 504. It was held that the workmen of the statutory canteen run by the canteen managing committee through the canteen contractor cannot be considered employees of the company despite the canteen being maintained under section 46 of the Factories Act. d. Haldia Refinery Canteen Employees Union and another vs Indian Oil Corporation Ltd, and others 2005 II LLJ 684. The Supreme Court, after perusing the conditions of the contract, observed that the control of the Respondent employer exercised over the contractor was only to ensure the canteen was run in an efficient manner. It did not mean that the canteen employees, by virtue of such control, were employees of the management. The workmen in a statutory canteen became the workers of the establishment for the purpose of Factories Act 1948 only, not for any other purpose

The writer is a visiting faculty to many B-Schools. He is a professional trainer in many PSUs and private sector industries. Email: 62 | Business Goa industry Dossier | MARCh 2018

economania / Dr. Manoj S. Kamat

The Flat Learning Curve While the Punjab National Bank fraud is now a major talking point across the nation, the outrage will soon fade away...until the next scam


ll hell broke loose after the biggest fraud ever detected in the Indian banking system came to light. Since then, we see our Whatsapp accounts and Facebook walls popping up multiple dispensations from umpteen groups explaining ‘how’ it all happened. Television channels are abuzz with the blame games principal political spokespersons play to justify their pitiable existence. The Conspiracy Nirav Modi (NiMo) and his kith and kin, through their three companies, are allegedly charged with having colluded with employees from Punjab National Bank (PNB) to receive fake Letters of Undertaking (LoUs) to avail buyers’ credit by gaining authorised access to their software to send messages to other banks. The employees allegedly bypassed the core banking system for petty personal gains. The reported fraud at PNB, the second-largest Public Sector Bank (PSB) is of `11,400 crore (initial estimation), at a single branch in Mumbai. This figure is realistically expected to be closer to `20,000 crore including bonafide credit to related firms, which now risk being classified as bad debts. The magnitude of this fraud may be gauged by its value, which works out to more than eight times PNB’s annual net profit of `1,324 crore during 2016-17. Where’s the Learning? The initially estimated fraud value itself accounts for almost 70% of the value of all banking frauds in the last five years. Between January 1, 2015 and March 31, 2017 as many as 5,200 officials of public sector banks have been punished for fraud. On an average, at least one banker is caught and punished for involvement in fraud every four hours, as per RBI data. According to Reserve Bank’s Financial Stability report; during the last five financial years, frauds above the cut off of `1 lakh have increased substantially both in volume by 19.6% from `4,235 to `5,064 and in value terms of loss incurred 72 % from `9750 to `16,700 crore. PNB is not new to the NiMo-type fraud. In the last five years, PNB has been roiled by several frauds by several other jewellers

as well, including Winsome Diamonds and Shree Ganesh Jewellers. Winsome Diamonds was `6,800 crore fraud while Shree Ganesh cost PNB `2,200 crore. This brings us to pertinent issues: why was there no monitoring? What actually happens in the bank’s four-tier audit trail? How effective was the Internal Control System? Which control mechanisms are we leaning on to? The Bloodshed PNB shares slipped for immediately wiping out over `8,000 crore of investors’ wealth in a matter of two trading sessions while other PSU banks lost nearly `20,000 crore in market capitalisation, eight times their 2017 profits. The collective notional loss to investors after the scam is almost three times the value involved in the scam. The total loan exposure of PNB reflected in their books approximates `2790 crore, with `2360 crore classified as fund-based and `430 crore classified as non-fund based. Worst yet to come The PNB fraud has been unearthed at a time when the rating agency CRISIL had revised upwards the outlook on 18 PSBs to ‘stable’ from ‘negative’, and when PNB was on a winning spree bagging awards for excellence in banking vigilance. Yes. Vigilance! Ironically, two of these three awards came in the year 2017 alone. CRISIL had just picked up PNB in its lucky list expecting an improvement in its overall lending performance in the fourth quarter. Truly, when other PSBs were vacating their markets to private players in terms of grabbing market share, PNB’s performance in incremental deposits and incremental advances was ahead of the rest and just second to the SBI. For the nine months ended December 2017, PNB reported a net profit of `1,134.09 crore against the total income of `15,257.50 crore for all PSBs during the same quarter and after a robust 63% increase in sequential growth in net profit in the last September quarter. At the end of December 2017, PNB boasted that its net NPA ratio declined to 7.55% in December 2017 from 8.44 % in the second quarter. PNB provided a ray of hope when the bottom lines of other

PSBs were bleeding. Considering the direct hit of `20,000 crore, the entire amount would have to be written off by the PNB. It is feared that at least 30% of the bank’s tier one capital will be eroded with the book value affecting by `80 or above per share and `6,500 crore in terms of recapitalisation. The stock price has taken a super beating and it will be difficult to stop the exodus of fixed deposits as the depositors will start to be wary about its safety. On February 14, from a trading price of `144 per share, PNB lost to `115 on February 15, washing away the market valuation of around `12,500 crore. This is likely to compromise PNB’s inertia entirely in future. The Bandwagon Effect UCO Bank announced that it has ` 2652 crore exposures while Allahabad Bank of around `2,000 crore by way of LoUs issued by PNB. The country’s largest lender Union Bank’s exposure lay at `1900 crore, and Dena Bank a standalone exposure of `50 crore. SBI claims it has an exposure of `1360 crore in respect to a letter of undertaking issued by PNB. This will supposedly start a new squabble among banks over the liability. Though PNB will have to honour all claims based on LoUs that weren’t rolled over from the original 90 days and challenge the rest, the counterparty banks will contest this. Currently, the entire PSBs are hobbled by close to `1 lakh crore (read the figure again) in bad loans on their books. The new scam is likely to result in an increase in credit provisioning and will have a detrimental impact on the balance sheet of these banks in the coming quarters. The government will now be forced to more than double its `2.11 lakh crore planned infusion in state-run lenders as the level of bad loans is already high. The aggregate amount of notional loss LIC has already suffered is `2400 crore and is expected to be hit significantly in future too as it has the largest institutional holding in PNB, Allahabad Bank and Union Bank. It owns 14 percent stake percent in PNB, and around 13 percent in the later banks respectively, as on January 2018. LIC also owns around three percent stake in NiMo’s Gitanjali Gems. Following

The author has a Post-Doc in Economic Policy and PhD from IIT Bombay in Finance. He contributes popular columns on the subject and was awarded Business Enabler of the Year by Business Goa in 2016 64 | Business Goa industry Dossier | MARCh 2018

SocialConnect Geno Foundation supports Ideal H S


eno Foundation in association with Rotary Club Panaji Riviera has partnered with Eureka Forbes as a CSR activity to install 5 water filters in 5 different schools. The first water filter was installed at Ideal High School, Pilgao by Geno Foundation in association with Rotary Club Panaji Riviera. This is expected to benefit 400 students of the school. The project was inaugurated at the hands of Rotary District 3170 Governor Rtn Anand

Kulkarni and First Lady Ann Dr Rajashree Kulkarni. Also present on the occasion were the Chairman of the school Ramachandra Garde and President of Rotary Club of Panaji Riviera Rtn Yogish Dempo and members of the club Rtns Siddharth Zantye, Colleen Sequeira and Pallavi Salgaocar. The chief guest District Governor Rtn Anand Kulkarni lauded the efforts of Rotary Club Panaji Riviera and Geno Foundation and wished them well in their journey of social initiatives

the crash in share prices of all four institutions, LIC suffered a severe loss. The bandwagon effect is not restricted to financial institutions alone as, if the initial reports are to be believed, as many as 30 companies and 25 individuals who had taken Gitanjali franchises between 2013 and 2017 filed criminal complaints of financial bankruptcy due to breach, criminal conspiracy, violation of agreement and fraud committed on them. The franchisees claim that NiMo firms would either not replenish the stock or send items which were overvalued 3-4 times the actual price. It is also found that the receivables in NiMo’s firm are manipulated and that the amount being billed to customers were much higher and hence not be recoverable. Within a period of just five days from February 14

through February 20, the share price of NiMo’s Geetanjali fell by 50% from `64 to `33 per share. The second episode following the scams has now begun. Political parties will now cut jibes to add a series of arguments of ‘when’ it started and economists will point out laxities in the banking systems. While the regulator is still estimating the losses, newspaper columns and television news will boggle us down with their analyses. Until then, the preparations of litigations will begin to run endlessly. A few months later, we will catch a glimpse of the core conspirators on our channels making merry amidst glamour and international sporting events on foreign shores. Eventually, all will be forgotten till some other scam surfaces. We never learn

MARCH 2018 | Business Goa industry Dossier | 65



Novotel partners with Alcon Victor Group to rebrand Dona Sylvia resort

At the majestic lawns of the Novotel Goa Dona Sylvia Resort, AccorHotels launched its latest Novotel in partnership with the Alcon Victor Group and its fourth property in the booming Goa market

Seagull Restaurant


empting travelers with white sands, water sports, magnificent sunsets, plush rooms and local and international gastronomy, AccorHotels has rebranded the globally known Dona Sylvia Resort to Novotel Goa Dona Sylvia Resort, adding the Novotel brand essence with modern refurbishments and creating a fairytale essence on the sands of Cavelossim Beach. The resort houses 181 well-appointed and spacious rooms, villas and suites. At the press launch, Varun Albuquerque, Director, Alcon Victor Group paid tribute to the acumen and craftsmanship of the

Varun Albuquerque, Vishal Khosla and Jean-Michel Cassé

late Charles Correa who had originally conceptualized and designed the resort. He said, “Dona Sylvia Resort has always resonated with oldworld charm and new-world luxury, creating an authentic Goan ambience along with its perfect location. Today, through the rebranding of the property as a Novotel Resort, we look forward to offering an international standard product to our guests”. Also present on the

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occasion was Jean-Michel Cassé, Chief Operating Officer, India & South Asia, AccorHotels. “The rebranding of Novotel Goa Dona Sylvia Resort strengthens AccorHotels’ presence in the Indian market. With 17 Novotels in the country, we believe this brand is particularly well targeted for the modern Indian traveler and international guests. Novotel is the world’s most recognized hotel brand that offers modern easy

living hotels and resorts located in major international cities, business districts and tourist destinations. We are delighted to partner with the Alcon Victor Group and look forward to bringing our expertise in hospitality to this relationship,” said JeanMichel Cassé The property provides a glimpse into the rich traditional Portuguese culture through a mix of contemporary and local heritage architecture, built like a small luxury village in itself. The resort also offers an eclectic range of spectacular dining options. Seagull, the all-day dining restaurant, serves delectable buffet spreads, scrumptious a la carte meals and offers an impressive dining experience

What’s Up Goa with live cooking stations and plush interiors. Further, guests with an Indian palate can head towards Kebabs & Kurries, the fine dining Indian outlet that presents enticing signature dishes fromthe royal kitchens of India. Mama Mia, the resort’s seasonal poolside grill restaurant, offers guests an appetizing selection of fiery grills prepared by the talented chefs of the eatery. Guests can also pick an assortment of experiences from intimate bar settings to mesmerizing views of the pool at Amalia and Tia Maria, the poolside and lobby bars. Appreciating the needs of today’s travelers, Novotel Goa Dona Sylvia Resort features two

dedicated conference rooms with a capacity to serve about 200 guests. The resort also offers two magnificent Seaside Lawns, making it a perfect setting for glamorous events and black-tie affairs. With a team of skilled professionals, Sohum Spa at the property provides a variety of Indian Ayurvedic treatments, aromatherapy sessions and revitalizing western massages. The property also features an outdoor pool, a fitness centre, an activity area and a shopping centre for its discerning guests. Vishal Khosla,

Victor Albuquerque

Food for the stars at Vivanta by Taj Vivanta by Taj, Panaji held a galactic food fest at Latitude recently. The chefs curated a special menu comprising scrumptious delicacies and the bartenders concocted exotic mixes according to zodiac signs. The fare included a vibrant mix of global and local flavours. The meals were designed to reflect the personality traits of each zodiac sign. The headstrong Aries could feast on fiery Thai and Mexican flavours, while those under the signs of Cancer and Capricorn

enjoyed popular Indian dishes. Sagittarians could gorge on the classic American burger. The bull (Taurus), twins (Gemini) and lion (Leo) were presented with a mix of American, Italian and Spanish delicacies. Authentic Italian preparations were written in the stars of those under Libra, Scorpio and Aquarius while Pisceans relished a traditional Goan dining experience with an assortment of appetizing local delights and Virgos savoured mouth-watering fresh flavours and grills

General Manager, Novotel Goa Dona Sylvia Resort, said, “We seek to offer solace to the #hashtag tired traveler, offering a place where the incessant mobile phone ring can be forgotten and activities indulged in that

bring back fun and laughter, making it into a style of living. At Novotel Goa Dona Sylvia Resort, we aim to host a complete getaway package, where guests can come and enjoy the simple but luxurious pleasures of a resort”

MARCH 2018 | Business Goa industry Dossier | 67

BonAppétit The Lazy Goose, NERul

Down by the river A


breathtaking panoramic view of the River Nerul. Fresh air. The perfect spot to watch the sunset. Some restaurants, I’m sold on because of the ambience alone. And when the chef is known across the culinary world as “The Conductor of Gourmet Symphonies”? It helps. In the past, if you’ve been to Amigos (who hasn’t?!) in search of delectable Goan seafood, you’ll know where The Lazy Goose is. Chef Rohan D’Souza, his sister/colleague Praveena D’Souza and restaurateur Hitesh Keswani have set up their idyllic eatery where Amigos used to be. Below the Nerul Bridge, The Lazy Goose is spacious, and its soothing blue and brown hues, quirky décor (you can’t miss the overturned canoe hanging from the ceiling and the vibrantly-painted paddles) and fun playlist provide a relaxed, easy-going ambience. Seated at a corner closest to the river, we dived into the menu like you would when you start a good book. Full of excited expectation. After all, Chef Rohan D’Souza has quite the reputation. After honing his culinary skills at IHM Hyderabad, and then Southampton City College, Rohan worked under great chefs, including the legendary Marco Pierre White and James Martin. He has opened numerous restaurants (spearheading kitchens at Vii in Dubai, Estella in Mumbai and seven others run by Silver Beach Hospitality) and is consultant for major brands like Etihad Airways. The Lazy Goose is known for their tropical cocktails and with names like Monkey Brains Malibu, banana liqueur, angostura bitters, pineapple, lime), Beach Please (white rum, coconut, guava and apple juices, dried elderflower) and Whisk Me Away (Bourbon, cinnamon, pineapple juice egg white), it’s not hard to see why. And if a glass isn’t enough to whet your appetite (see what I did there?), you can order your cocktail in a fishbowl! *slurp* The vast food menu is divided into small plates, large plates, signature burgers, signature mud crabs and lobsters, signature salads and, if you’re missing the old fare served at this locale, there are “20-year-old classics by Amigos”. There’s something on here to suit every taste and plenty of delicious options for vegetarians. We started our meal with Falafel with Coriander & Pumpkin. Made primarily

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Opened in November 2017, The Lazy Goose is already a crowd favourite and bagged a ‘Times Good Food Award’

River Prawn Al Ajilio

with chickpeas, this deep-fried patty is not easy to perfect. Many don’t get the mix right with a dry result. This falafel, topped with a Turkish yoghurt sauce and quinoa chips was perfectly moist and scrumptious. Next came the River Prawn Al Ajilio. Served in ceramic soup spoons on a tree bark platter, this one is a delight even before you’ve had the first bite. The prawns are cooked in a Spanish style, in their own shells, its juices marrying happily with wine, cherry tomatoes, fresh herbs, and garlic. Yum, yum, yum. A word of advice. Use a fork to bite into the prawn and drink the sauce from the spoon. Emptying the contents of the soup spoon onto your bread plate will lead to you losing that flavour-packed sauce. We saved our final “small plate” for last – Chef Rohan’s flagship dish, the Signature Grilled Tasmanian Scallops. The scallops sat atop miso honey cream and were covered in carrot foam. I must admit I’ve never eaten this saltwater clam before and this certainly won’t be the last. They seemed cooked to creamy perfection and the carrot foam enhanced the flavour, but the heavy serving of miso cream overpowered the seafood. If you’re feeling nostalgic for Amigos’ Goan fare, fret not. These feature on the menu too. Chef Sabita’s recipes are used here in the popular Red Snapper with Racheado Masala, River Prawns, Squid Masala, Chicken Cafreal, Pork Sorpotel, Prawn Curry with Rice. Vegetarians can tuck into the Barbequed Moroccan Green Harissa Baby Potatoes, made with an in-house green herb Harissa paste, red bean salsa and topped with crushed walnuts. There’s also Cheese Fondue with Garlic Bread & Fries, Walnut Hummus with Spinach

Signature Grilled Tasmanian Scallops

Pita, Spinach & Sundried Tomato Risotto Balls. There are also appetizing salads like Raw Papaya & Tender Coconut and Poached Pear and Ricotta. Among the vegetarian large plates too, there is a lot to choose from – even a steak! The Stuffed Cottage Cheese Steak looks promising as does the Ravioli of Roasted Spicy Pumpkin and Wild Mushroom and Truffle Risotto. Having greedily gorged on too many small plates, we decide to share a large plate, opting for the Lazy Goose Surf & Turf. And, boy, was this a LARGE plate! If we had to order individual servings, we would have needed a Great Dane bag. Every single element of this dish was sheer perfection. It may seem odd to wax eloquent about mashed potatoes, but I’m going to! For far too long, the humble mash has been treated as a boring side, dumped on to the plate near the star of the dish. This buttery, well-seasoned truffle mash can hold its own. The veggies, a combo of carrot, baby corn, zucchini and peppers, were good. The beef medallion topped with truffle béarnaise sauce and a beef pepper jus was char-grilled just to the point we wanted it to be – well done on the outside, retaining its moisture and just a wee bit pink on the inside. But those tiger prawns… fleshy, juicy, the hint of smokiness from the grilling. Sigh. Is it possible to fall in love with food? And if the food and view is not enough, you can also enjoy some great music here. The Lazy Goose Tuesdays, Retro Friday Nights, Saturday Afternoon Fun and Sunday Brunch are just some of the many events at the restaurant all through the week. Retro Friday Nights feature local musicians, boat rides, a live grill section and a breathtaking sunset



NRB Group releases the CD of Dr Muktesh Chander’s flute recitations

Dr Muktesh Chander is the Director General of Police in Goa. He is also an authority on cyber security and cyber policing. But few know of the musical genius hidden inside this man in uniform. “I can wield the bamboo in both forms,” joked the DGP, while speaking at the release of the CD of his musical notes. The programme was hosted by Vasco-based NRB Group under the aegis of Manda and Narayan Bandekar Charitable Trust. “It is a pleasant surprise that Goa’s DGP is such a talented musician. His rendition of the flute is enchanting. My wife Manda was a connoisseur of music and a trained classical singer. It is indeed an honour to release the CD from the trust that was established by her to do charitable work and support musical talent,” said Narayan Bandekar, chairman of NRB Group. After the launch of the CD, which was attended by a select audience, DGP Chander performed live, playing a few tunes from the CD. The event was managed by Shreemi Pai Panandikar and D Kumar Pillai

Dr Muktesh Chander

Nitin Bandekar

Nayna Bandekar

Suvarna Bandekar

Amit Bandekar

Madhura Bandekar

Rashmi Bandekar

Harshvardhan Bhatkuly

Shekhar Mital

Ella Mital

Sushanta Naik

Datta Damodar Naik

Ruth Furtado

Surendra Furtado

Chandan Bandekar

Deepa Bandekar

Jyoti Bandekar

Vimla Mehra

Rajendra Singhal

D Kumar Pillai

Amin Ladak

Shreemi Pai Panandikar

Daji Salkar

Sasindran Nair


Jai Amol Naik

Dr Kirti Naik

Shammi Salkar


Felix Fernandes

Narayan Bandekar

Atul Jadhav

Ameya Kare

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Kunal Kare


Gangaram Morajkar


Change of Guard at Yi Goa. Nikhil Khalap is new chair

Yi (Goa Chapter) held its annual session for the year 2017-18 recently. Rupesh Gauns, Chair Yi Goa Chapter, gave the welcome address and highlighted the various activities and unique initiatives undertaken during his tenure. The Yi Goa Chapter Annual Report was released by Atrey Sawant, Chairman, CII Goa State Council. Omkar Kamat Sambary, National Member, Yi Membership & CEO, Ideal Homes introduced Nikhil Khalap, General Manager, Nirmal Agencies, as the Chair of Yi (Goa Chapter) for the year 2018-19. Rohit Zantye is set to be Co-Chair. After this, sessions on various subjects were held. Mementoes were presented to speakers RAdm Shekhar Mital, Chairman & MD, Goa Shipyard Limited; Prasanna Karthik, OSD to Chief Minister, Govt of Goa; and Desmond Nazareth, Founder & CEO, Agave India

Shekhar Mital

Prasanna Karthik

Rupesh Gauns

Sagar Mohbe

Ramakant Khalap

Atreya Sawant

Nikhil Khalap

Pravin Pai Kakode

Erle Britto

Desmond Nazareth

Aniruddh Dempo

Rajesh Salgaonkar

Ashish Machado

Rohit Zantye

Dr Samidha Khandeparkar

Partha Talekar

Omkar Kamat Sambary

Pratiksha Khalap

Shweta Desai

Tulasidas Pai

Dr Gauri Gauns

B K Singh

Laxmi Bharne

Girish Bharne

B V Kamat

B T Boke

Fiola Rego

Arnaldo Rego

Sandesh Kundaikar

Dipti Kundaikar

Asha Arondekar

Dr Pradeep Salgaonkar Navnath Khandeparkar

Amol Arondekar

Vinita Adpaikar

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Rotary Club Panaji Riviera welcomes Dist Governor Anand Kulkarni

Yogish Dempo

Rotary Club of Panaji Riviera welcomed Anand Kulkarni, District Governor of Rotary District 3170, in its unique style. The evening saw Yogish Dempo, president of the club, welcome the gathering. Former Panaji MLA and Chairman of EDC Goa, Siddharth Kuncalienker was invited into the club as honorary member. Two new members, Sandra Fernandes and Maithili Nadkarni, were also brought into the Riviera family. Senior Rotarian Sr Adv Manohar Sinai Usgaocar was present at the occasion. Assistant Governor overlooking club activities, Manoj Patil also complimented the club for its sterling activities. Anand Kulkarni expressed his deep admiration towards Rotary Club of Panaji Riviera for the outstanding work done by the club towards by putting ‘service before self ’. He went on to explain the ideals of the Rotary movement and especially the work done in the field of polio eradication. Kulkarni also placed on record the contribution of various global organizations in the social initiatives of the Rotary International. Anand Kulkarni Priyanka Row and Dr Mahesh Pai compered the function

Bindiya Dempo, Urvija Bhatkuly, Tanvi Sawant

Parag Sardesai

Pallavi Salgaocar

Natty Vaz, Madhavi Shetye, Shalini Xavier

Coleen Sequeira

Vaibhav Vaze

George Sequeira

Siddharth Kuncalienkar Rajashree Kulkarni

M S Usgaocar

Harshvardhan Bhatkuly

Denzil Xavier

Ryan Costa

Clarissa Costa

Clare D’Souza

Siddharth Zantye

Nitin Kenkre

Prasad Pawar

Abhijeet Shetye

Manoj Patil

Sabreen Sukhtankar

Raja Melvani

Dr Sunil Kenkre

Dr Sandeep Kenkre

Dr Mahesh Pai

Bhuvanesh Seth

Laavanya Seth

Akshaya Dempo

Yatish Dempo

Priyanka Row

Viraj Dhond

Angad Singh

Dr Deepa Desai

Rahul Nadkarni

Maithili Nadkarni

Shriniwas Deshpande Sanat Pilgaonkar

72 | Business Goa industry Dossier | MARCh 2018

Sandra Fernandes

NewsMakers Shekhar Mital and Lalit Saraswat take charge of CII Goa Council At

The recently concluded CII Goa Annual Day 2018, RAdm Shekhar Mital, NM, IN (retd) was nominated as the chairman while Lalit Saraswat was named vice chairman to the CII Goa Council. RAdm Shekhar Mital, Shekhar Mital Saraswat NM, IN (retd) is a known expert in the ship building, design and execution of major projects and has been involved with MoD/Navy in strategic policy formulation for over two decades. RAdm Mital took over as chairman and managing director of Goa Shipyard Limited in February 2014. Under his leadership, the Shipyard has won several accolades including the Raksha Mantri’s Excellence Award for ‘Best Performing Shipyard’ for 2015-16 and Scope Award for ‘Best Turnaround’ for 2014-15. Lalit Saraswat is director of Sancoale Shipping Ltd. He is CEO of Sancoale Technologies – a digital marketing company with clients in Europe and Asia. He is also into hospitality and is a distributor for Titan and Fastrack brands, a former member of Rotary Club of Vasco da Gama and Paul Harris Fellow, and has worked with underprivileged schools

Sahil Ramchandani and Harsh Hegde win Tata Crucible Campus Quiz Goa

Sahil Haresh Ramchandani and Harsh Hegde from the National Institute of Te c h n o l o g y (NIT) won the Goa edition of Tata Crucible Harsh Hegde (L) and Sahil Ramchandani with quizmaster Giri Balasubramaniam Campus Quiz 2018. A total of 45 teams participated in the city level finale, held at the Birla Institute of Technology & Science (BITS) Pilani, Goa. Sahil and Harsh took home a cash prize of `75,000 and will compete in the zonal round to qualify for the national finale. “I am elated. It is one of the most famous business quizzes in the country and winning it on the last question just made our day,” said Sahil. Harsh exclaimed, “It was great winning the Tata Crucible Goa Round. These business quizzes are always tough and I’m glad that we took a risk and came out on top. The hard work paid off.” Manu Bhat and Tejan Naresh Naik Karmali from National Institute of Technology (NIT) Goa were declared runners-up, winning a cash prize of `35,000. Prof G Raghurama, Director and Senior Professor, BITS Pilani, KK Birla Goa Campus was the chief guest at the finale. This year, the theme revolved around 150 years of business to mark the 150th year of the Tata group. In keeping with tradition, renowned quizmaster ‘Pickbrain’ Giri Balasubramaniam hosted the quiz in his masterful, inimitable style. The fourteenth edition of India’s biggest campus quiz will run for a little over two months, traversing 38 cities, with five zonal rounds leading to the grand national finale in Mumbai. The winners of the National Finals will receive a Grand Prize of ` 5,00,000 along with the coveted Tata Crucible trophy 74 | Business Goa industry Dossier | MARCh 2018

Nurallah K Veljee featured in ‘Pride of the Nation’ series

Managing Director of Space Deal Pvt Ltd, Nurallah K Veljee, has been featured in the second edition of ‘India’s Greatest Leaders 2016-2017 Pride of the Nation’ series. This book presented by Asia One magazine features leaders from various fields like chairman of Reliance Industry, Mukesh Ambani, real estate icon Niranjan Hiranandani, chief of Biocon, Kiran Mazumdar-Shaw. Ecstatic to be named among other personalities in the book, Veljee said, “It has been my endeavour to build a strong brand throughout my journey in real estate over nearly four decades of tireless work. Today, I am happy that my work is recognized by one of India’s premier research companies.” The process reviewers were Pricewaterhouse Coopers

Rahul Narvekar shares his entrepreneurial journey at GCCI

Startup entrepreneur, former CEO of and India Roots and, most recently, founder CEO of The India Network, Rahul Narvekar delivered an inspirational lecture at Goa Chamber. Narvekar’s is an inspirational story as he grew up in one of Mumbai’s many chawls. To help his family make ends meet, he took up numerous part time jobs when he was in college. Narvekar’s speech was well received by Goan startup owners. Narvekar’s India Network mentors business in tier -1, tier-II, III, IV and V cities and towns. It provides an ecosystem wherein aspiring business people, artists, artisans, students and other likeminded can be connected via a data layer and using technology tools find synergies, connections, business and funding with the best globally

105 1. Which soup can was immortalised by artist Andy Warhol’s series of images painted in 1962? 2. In Robert Zemeckis’ 2001 blockbuster Castaway, which company does Tom Hanks work for? 3. Which famous business duo met in 7th grade gym class in New York (think ice cream)? 4. Which minister has been given the additional portfolio of civil aviation in the Narendra Modi cabinet? 5. _____ is a magazine published by which auto company to connect with farmers, who happen to be its main customers? 6. Complete this famous advertising punchline “Beans means _______” 7. Identify this industry leader Answers to BG Quiz 104: 1.‘Think Different’ 2.Ray Kroc 3. Dr. S Radhakrishnan and Dr B R Ambedkar 4. High Tech Computer 5.Porsche 911 6.Indian Oil 6.Kapil Mohan Email your entries to First all correct entry will get 1 year’s subscription to Business Goa

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Business Goa March 2018  

Read about Pramod Rane's exciting journey in the world of travel and tourism; and how he has created a boutique resort known for destination...

Business Goa March 2018  

Read about Pramod Rane's exciting journey in the world of travel and tourism; and how he has created a boutique resort known for destination...