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Goa’s Only Business Magazine


APRIL 2014

Goa Budget focus 12

Kirit Maganlal Interview 30

Ayuron Implants industry 32

Black Sheep Bistro Bon Appétit 54

Ashank Desai, Founder member and former Chairman of Mastek, is the chief architect of catapulting Mastek into the Top 20 software companies in India 16

Mastering Technology

News Views Articles Interviews Profiles Focus Analysis Opinions Events Features


April 2014

34 Goan Brand 38 Event of the Month 41 Professional Dossier 42 Lady Power



TaxiGo offers customers prompt and affordable round the clock, taxi services

Autobuzz Goa organized a Women’s Day drive to celebrate the spirit of being a woman

12 State Budget

Adv. Francisco Tavora on why he became a lawyer and about his professional journey

In keeping with the mood for the General Elections, Manohar Parrikar presents a ‘please-all’ Budget

16 22

Cover Story

Michelle Fernandes of Goabizzle has created a revolutionary platform for buyers and sellers of property in Goa to come together – online

Mastek, founded by Ashank Desai has risen to become one of the world’s most powerful software companies

54 Bon Appétit

Special Focus

The newly opened Panjim-based The Black Sheep Bistro serves up local dishes with a twist!

A look at the various Schemes up for grabs offered by the Directorate of Industries, Trade and Commerce


26 Starting Young 28 Enterprise

Shopaholic has fast become the go-to place for the latest in fashion



Shiva Baba Naik is working along with some of the biggest names in the film industry to promote Goa as a film hub

43 Antarprerna

30 Interview


Newly installed President of the CII-Goa, Kirit Maganlal talks about his plans for his term


Industry Utpal Parrikar started Ayuron Implants Pvt. Ltd. – a precision equipment manufacturer for the orthopaedic sector and works with global clients




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APRIL 2014

44 Reluctant Entrepreneur 45 Letter from America 46 People Tree Blaise Costabir writes about the legal and procedural complexities of owning a Private Limited Company



06 Editorial 08 Corpo Scan 24 Curtain Raiser 36 Real Estate 40 Campus 40 Book Shelf 40 BG Crossword 50 What’s Up Goa 56 Goa Buzz 58 Newsmakers 58 BG Quiz

Nandini Vaidyanathan writes about the importance of validating business ideas in order to understand the customer mindset to strengthen your business plan

Jay Dehejia examines the education scenario in the United States

Kishore Shah discusses the importance of engaging in newer Human Resource practices to building stronger teams

48 Guest Column

48 Cover Pic: aliston dias

Ashutosh Kharangate talks about the tie up of his firm with Mundiservicos and the growing global opportunities for Goan businesses


Strength of a Woman VOL 5 | ISSUE 10 | APRIL 2014

Editor & Publisher Harshvardhan Bhatkuly Co-Publisher & Group Head Urvija Bhatkuly Advisory Board Datta Damodar Naik Ralph de Sousa Rajiv D’Silva Swapnil Kamat Group Editorial Head Rachel Fernandes Team Alisha Patel Annalise Gouveia Ashok Kolvekar Govit Morajkar Mayur Santinezkar Monaliza Dias Pritesh Naik Sigmund D’Souza Contributors in this Issue Nandini Vaidyanathan Jay Dehejia Blaise Costabir Kishore Shah Ashustosh Kharangate


Editorial, Advertising & Administrative Office Business Goa 409, Citicentre, EDC Patto Plaza, Panaji, 403001 Goa India Tel.: 0832-6456555, 2437822


Business Goa is a monthly magazine dedicated to trade, commerce and business features and news. Editor, Publisher & Printer: Harshvardhan Bhatkuly. Printed At: Printek Printers

Unsolicited material may not be returned. The opinions expressed in Business Goa are not necessarily that of the publishers. While great care is being taken to ensure accuracy of information, the publishers are not responsible for omissions or incorrect information. No part of this publication may be reproduced without the permission of the publishers.

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Recently, the State witnessed a flurry of activity on Women’s Day. These special days, exploited more as marketing and branding platforms rather than espouse the true value behind them, are at the risk of not living up to their ideals. Some are mere dots of tokenism on the calendar. How then can one look at exploring and exploiting such special events and take their celebration at the ‘real’ next level? Let us examine Women’s Day – because that is what sparked this train of thought. Can you name a few women entrepreneurs in Goa? By saying entrepreneurs, I wish to make one thing clear – Entrepreneurism is not about being self-employed. Neither is it about running your family business (unless you are exploring a whole new business idea). Entrepreneurism is not selling insurance or advertising space or setting up a fashion store (the most likely options in Goa). In my opinion, entrepreneurism is about taking an idea – even commonplace, and exploring its business and monetary prospects to a multiple that goes way beyond the much grumbled ‘Hindu Growth Rate’. It is about taking risks and sometimes, wagering your entire holding. It is about building teams and delegating effectively. It is about being passionate and zealous about your business idea – despite the odds. Entrepreneurism is also about cashing out and selling a created business model. It is all about defining and conquering new frontiers at timed intervals. Entrepreneurism is a constant journey. I really don’t want to sound chauvinistic here, but tell me how many ladies in Goa that you can think of who would make the cut? Or, to put matters in better perspective, how many men? As someone who respects actions and results more than rhetoric and gloss, I am of the considered view that women’s empowerment in the field of business in Goa has not even begun. In the flat world that we live in today, one is exposed to a flurry of entrepreneurial changes and innovations from across the globe. America – that hotbed of entrepreneurism or for that matter, Canada, has a very strong feminine presence – not only in boardrooms but in individual spheres of business thought. Ladies like Marrissa Mayers

(Yahoo!), Oprah Winfrey, Sheryl Sandberg (Facebook), Arianna Huffington (Huff Post) have all trailblazed the business domain. In India, the lone figure that comes to one’s mind is Kiran Mazumdar Shaw of Biocon and of course, the leading ladies of our banking sector. India, to her credit, has also created world class co-operatives. A lot of them powered by women like the Shri Mahila Griha Udyog of Lijjat Papad fame, or SEWA run by Ella Bhatt. And the co-operative sector is powered largely by these women-led organizations. Cut to Goa and you will find self-help groups only providing vote banks to politicians or owing allegiance to one of them. How lame and selfdefeating is that. The Women’s Co-operative Bank started by the likes of the feisty Libia Lobo Sardessai has in over 25 years of its existence gone on to add only one more branch apart from its main office at Panaji! What stops the women’s movement from aspiring to be more bullish and more ambitious? Recently, I came across a news article about the Bhartiya Mahila Bank (BMB) being launched in Goa. I read the comments made by the Chief Guest, Manda tai Bandekar of the NRB Group, as to where are the women entrepreneurs in Goa? And that takes me back to my moot inquiry and I echo Manda tai’s question. I think there is an urgent need of constituting a task force – as apolitical and devoid of any other scruples – except empowering ladies to become entrepreneurs, rather than self-employed professionals. The task force should start with an agenda to create 100 lady ‘entrepreneurs’ in a 5 year timeframe. With special funding, space in industrial estates, consultants to manage their business ideas – all working like a large incubator. Unlike us men, women have to manage multidimensional lives – in the personal as well as professional spaces. One has to work around these challenges. So next year, when we celebrate Women’s Day – we should celebrate the idea to empower women to change the way Goa’s business landscape looks

The Crown awarded for excellence

The Crown Goa Hotel in Panaji was presented the Hospitality Excellence Award for ‘Emerging and Preferred Luxury Hotel of the Year’ on the occasion of International Summit from All Indian Economic Survey Council in New Delhi. This Award has been recognized by the Ministry of Commerce and Industry, Govt. of India. The Management of The Crown Goa Hotel said that they accept this Award with great pride and will strive to keep up to its high level of quality and impeccable services.

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ATI to fine tune MLAs, Government servants Legislators and government servants may have to trudge back to school from financial year 2014-15 if the Administrative Training Institute (ATI) proposed by Chief Minister Manohar Parrikar in his budget materializes. Parrikar also proposed the framing of the Goa State Training Policy and said that elected representatives and civil servants will be trained at the ATI on government policies and

how to work in tandem with the bureaucracy. “In order to achieve excellence in administration and to make government efficient, effective, responsible, responsive, competent, forward looking and technology savvy, there is a need to impart suitable training to employees at all levels,” Parrikar said in his speech. The CM informed the House that government has already signed a Memorandum

of Understanding (MoU) with Yeshawantrao Chavan Academy of Development Administration, Pune. “Government also proposed to impart training to elected representatives and officials of loscal self government from city to village level through Rambhau Mahalgi Prabhodini, Maharashtra” he said. Goa has 40 MLAs and over 50,000 government employees. Parrikar announced that in order to make

Menezes Polyclinic celebrates 50 years Medical services everywhere are extremely commercial with large corporate houses being owners of hospitals. It is a scenario even in Goa where new multi-specialty hospital chains are announcing their presence. However, there are some other healthcare providers that are not profit oriented. Speaking at the 50th anniversary celebrations of the Menezes Polyclinic in Altinho, Cesar Menezes, Chairman of Cosme Matias Menezes Memorial Trust, said that the Polyclinic continues to function on non-commercial lines. Its doctors, nurses and staff work

like a family and handle patients in a humane manner. The Polyclinic, he said, works on a no-profit basis treating patients who cannot afford healthcare free of charge. Announcing new facilities and plans for growth, he said that the hospital will continue to run “not as a business, but as a service at a reasonable charge” generating just enough surplus to replenish the equipment from time to time. New facilities in the offing are an upgraded, three-bedded ICU with latest equipment from Goa America Heart Foundation (GAHF), a charitable body set up by Goan doctors and

philanthropists in the US. The ICU is expected to play a key role in providing cardio care at affordable rates. Established in 1964 by the Cosme Group of Companies, the Polyclinic, since inception, was fortunate in getting good doctors and surgeons associated with it, said Menezes. It had visiting doctors coming in from the US who regularly hold camps at concessional rates or free-ofcharge. Others present during the anniversary celebrations were Ralph De Souza, chairman, GAHF; Dr Prakash Nadkarni, director and Dr Peter Carvalho, medical superintended

The Datsun ‘Go’ launched in Goa The much awaited Datsun ‘Go’ was launched recently in Goa through AM Ventures, the sole sales, service and spare providers for Nissan and now Datsun cars in Goa. Datsun cars will be retailed through the existing Nissan dealer network which has a presence in Verna and Porvorim. Datsun is not new to Goa as there was an abundance of Datsun’s in Goa during the Portuguese regime, some of those vehicles are still seen on Goan roads loved by their proud owners. One such owner is Gajanan Tilu Naik, a Datsun customer who has painstakingly maintained his Datsun Bluebird which is now more than half a century old. The new Datsun Go is available in three variants - D, A and T - and in four colours. The 08 Business Goa

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base D trim, priced at `3.12 lakh, is available in two versions, D and D1. The standard features include follow-me-home headlamps, a digital trip computer, gear shift guide, engine immobiliser and a speedsensitive wiper. Power steering, front power windows and central locking, however, are only available on the top T trim. The middle A trim, priced at `3.42 lakh, has air conditioning and a two-speaker audio system with only aux-in compatibility, a mobile phone stand, a USB port for charging only and Jacquard seat upholstery. The top-end Go T, priced at `3.69 lakh, has all the features of the middle A variant and additionally gets front power windows, electric power steering,

body-coloured bumpers, central locking and wheel covers. The top-end Go is priced at `3.69 lakh (ex-showroom, Delhi). The Go is powered by a 1.2-litre, three-cylinder petrol engine mated to a five-speed manual gearbox, and Datsun claims an ARAI-rated fuel efficiency figure of 20.63kpl. This is the largest engine capacity in the segment and customers can look forward to an unmatched driving experience with the ‘Go’. The Go comes with complimentary roadside assistance and two-year unlimited km warranty

the bureaucracy proactive and for management, government propose to induce lateral entry in the administration by engaging experienced trained personnel from Finance, IT, administration and other for short and medium term deployment in the relevant department. Government has also proposed a comprehensive recruitment policy to streamline the process of recruitment across the departments

Govt raises `260 Cr from two e-auctions of iron ore

With the end of the second round of e-auction of the stacked iron ore, the state government has now managed to totally raise `260 crore from the proceeds of the sale, with the March 5 e-auction bringing in approximately `166 crore. Bidders said that the second round of the e-auction went off well with high Fe grade of ore going cheap as compared to the international prices. In some grades, the floor (base) prices of iron ore surged by 40 per cent and 60 per cent during the bidding session and it was fairly acceptable to the bidders and seller, said foreign traders. On an average, the iron ore Fe grade put up for bidding this time was higher than the grade e-auctioned in February when the government had managed to raise `94 crore approximately. Based on the quality of the ore, Fe grade and its expected transportation cost, there was some excitement during the bidding this time. However, for want of more time, the bidding session had to be wound up, leaving 1.25 lakh tonnes of ore for the next e-auction

Zetta cloud backup technology now in Goa

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The Zetta cloud backup technology has been launched in Goa at the hands of Rajendra Arlekar, speaker of Goa Assembly. Zetta cloud backup solution retains the data downloaded online. Tushar Bhagat of G 5 web services has made the alternative solution to keep the data safe by introducing the new software for a complete solution for backup available in the Goa region and Jayendranath Govekar of Yashada Solutions from Bicholim has been nominated as the sole distributor for Goa

Co-operative banks start deducting TDS on FDs Co-operative banks of Goa have started deducting tax at source (TDS) on interest earnings of their fixed depositors for the year ending 31 March, 2014. The tax notice is applicable to seven Goa registered cooperatives and it is for interest earnings above `10,000. Several CEOs said that they have no option but fall in line with the notice as non-compliance will attract penalty as well as “excess paper work on explanations.” The bank said that it will affect deposit holders of Rs one lakh and above. Terming the notice as “discriminatory” they said that the campaign to have uniform tax rules among all players will continue and they will seek an

appointment with Sudha Sharma, chairperson, Central Board of Direct Taxes, Delhi as follow up to an initial petition. According to CBDT rules, interest from FDs of all co-operative banks is exempt from tax. However, about a month back, the Karnataka income tax tribunal in Bangalore passed a judgment against a Belgaum based co-operative bank asking them to charge TDS.

The jurisdiction of the tribunal extends to Goa and local cooperative banks. A senior official of a local co-operative bank said that the income tax order appears to be motivated by the low tax revenues from the state as the department is short of target and is desperately trying to raise money. Tax revenues, they said, have fallen because of mining closure and reflected in less advance tax collections. The tribunal ruling, according to experts, is because FDs in cooperative banks are also by nonmembers who use the exemption benefit to park funds. However, local co-operative banks say that they would not have objected if the tribunal was for all

launches organic fertilizers for Goan farmers

With the Government doing all it can to step up interest in farming, fertilizer companies in India have begun to eye Goa as a potential market. South-India based Coromandel Fertilizer Ltd. recently launched its organic fertilizer range to local farmers in a special meeting between members of farmers’ clubs and company officials. Mukesh Khare,Marketing Head, said that the fertilizers are water soluble and can be used as foliage spray. Urging farmers to try out the company products, he added that organically grown

agri-produce always fetch a better price in the market. Excessive use of chemicals has decreased the natural nutrients of the soil and the ministry of fertilizers in Delhi is trying to promote organic fertilizers through the National Centre for Organic Farming. The fertilizers ‘Godavari Gold and N Rich’ are based on varying mediums such as pressed mud, compost or neem. The meeting was held at the International Trade Centre, Dona Paula where farmers’ clubs from across the state were present. It was organized

by AIMS, a Vasco-based NGO with AIMS representative Anita Karambalkar, who said that organically grown Goan cucumbers are marketed in Karnataka. Coromandel Fertilizer is the second largest producer of phosphatic fertilizer after IFFCO. It has a major presence in Andhra Pradesh, Karnataka, Maharashtra, Chattisghar, Orissa and in the North. The company belongs to the diversified, southbased, Murugappa Group which has interests in engineering, agrochemicals, financial services, confectionary, etc

Samir Surlaker bags Outstanding Concrete Engineer Award

Indian Concrete Institute and bltrateeh organized a glittering function which was attended by over 200 engineering professionals of Goa. Pascoal Noronha, Chairman ICI Goa welcomed the attendants and function was inaugurated by chief guest Radhakrishnan, Secretary General of ICI. Keshav Tayde, VP (West) ICI was the Guest of Honour. Samir Surlaker made a technical presentation on recent advances in construction chemicals. Samir Surlaker is presently President of Construction Chemicals Manufacturers Association, Chairman of ICI, Mumbai and Director of ICACI. He is coauthor of Advance Handbook of Concrete Technology and has presented over 800 Lectures and written over 150 technical papers. An extraordinarily electrifying Award function coordinated by Garg, Samir Surlaker was awarded Outstanding Concrete Engineer Award at the hands of Dr.Manmohan Kalgal - Head Technical Services, Ultratech

Mining upto 27.5 million tons sustainable in Goa

Caculo Mall celebrates third anniversary

The Supreme Court constituted monitoring committee has said Goa can sustain extraction of iron ore to the tune 27.5 million tons annually, but has recommended 20 million tons as the permissible limit. The committee, which analyzed various existing data from different sources and studied the relevant literature, has said that mining at the rate of 20 to 27.5 million tons per annum appears sustainable. The committee in its recommendations, however, has scaled down the permissible limit to 20 million tons per annum with adequate monitoring of impact on different ecological

Caculo Mall, Goa’s premier Mall celebrated its 3rd successful year of operation amidst various activities. Among the best liked activities was the “Power of 3”, where in 3 year old toddlers, who are seen as part of the Mall’s invaluable clients or the future, were invited to showcase their talents in various art forms. viz. a fancy dress competition, dance performance (courtesy Little Penguin School, Panaji) and were also part of the workshop for speech and communication

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and environmental parameters, which will also help the committee in its future appraisal. “To eliminate the element of subjectivity, due to the time constraints and limitation of available authentic time series data relating to mineral resources and environmental impact of mining in the state, the committee suggests that mining be permitted to be carried out at the level of 20 million tons,” the report reads. The committee has also said that the capping will continue to be at 20 million tons till the scientific study by them is completed, which may take about 12 months more

conducted by The Sunshine School, Old Goa. The three year cake was cut amongst the presence of all customers, participants their parents, sponsors and family members of the Caculo Family. Also on the occasion, two additional cakes were cut to celebrate birthdays of two children. All the toddlers had an amazing three hours of fun and frolic, and over fifty children participated in the various activities

state budget

The 10,526 crore budget for 2014-15, ensures that everybody is kept content and assures to take care of the mining affected people, Konkani and Marathi language lovers, tourism stakeholders, educationists and

A ‘Please all’ Budget


he best way to find yourself, is to lose yourself in the service of others. With these words of Mahatma Gandhi, Chief Minister Manohar Parrikar presented his Budget for 2014-2015 to the Goa Assembly. Presenting the State Budget, the Chief Minister, who is also the State’s Finance Minister, announced a litany of goodies and subsidies across the spectrum and levied no fresh taxes. The Budget probably comes at a perfect time for the common man to attain its benefits. The 10,526 crore budget for 2014-15, ensures that everybody is kept content and assures to take care of the mining affected people, Konkani and Marathi protagonists, tourism stakeholders, educationists and students, industrialists and unemployed youth, the economically backward classes

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and farmers. It has taken into account women and journalists, as well. Making the speech in Konkani and then switching over to English for the Tax Proposals, Parrikar made attempts to counter criticism from the education, mining, and tourism sectors by announcing various sops and reviewing existing schemes. He announced a second package for the mining sector, while restaurants in the coastal belt and in five municipal areas will be permitted to serve liquor till 4am. In the education sector, the Chief Minister made budgetary provisions for land acquisition for the National Institute of Technology (NIT). With an eye on the voter, he proposed to regularize unauthorized houses that existed before February,

BUSINESS GOA takes a look at the Goa Budget 2014-15

students, industrialists and unemployed youth, the economic backward classes and farmers. It has also taken into account women and journalists

28, 2014 “with conclusive documentary evidence” issued by a Government Department. In 2001, Parrikar had announced a similar scheme to regularize unauthorized houses, but the promise had remained unfulfilled. Replying to questions as to how the Government would implement the Budget proposals when the economy is far from buoyant, Parrikar said that the Government, through additional revenue mobilization (ARM), is expecting to fetch around 600 crore and another 800 crore from mining. For industry, the Chief Minister proposed to take appropriate measures to increase the FAR to industries in industrial estates, besides ensuring release of land originally allotted to SEZs. An Investment Promotion Board (IPB) will also be set up and the Goa Investment Policy 2013 will be implemented soon, Parrikar said. Parrikar began his 100 minute speech by pointing out

The Budget proposes that under the Goa Investment Policy 2013, a ‘Venture Capital Fund’ and ‘Angel Fund’ shall be created to encourage those who have initiative and capacity to take up challenges to build new enterprises through innovative thinking how his Government overcame the challenges of a global economic slowdown and the ban on mining operations. The State exchequer was deprived of revenue receipts of 2,000 crore over the past 18 months, which includes direct revenue on mining royalty of around 1,300 crore and an indirect revenue estimated at 700 crore on account of reduction in taxes. To fight the increasing number of crimes against women, the

Government proposes to form a special women police battalion with 300 personnel. The Government also proposed various schemes to boost agriculture and dairy farming in the State and will take up various infrastructure works such as the construction

of major bridges, widening of national highways and bus stops. It has also proposed to take up beautification of churches and temples. The total gross budgetary expenditure is estimated at Rs 10,526.44 crore as against the Rs 9,446.19 crore of the year 2013-

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state budget

In the education sector, the Chief Minister made budgetary provisions for land acquisition for the National Institute of Technology (NIT)

2014 with a revenue deficit of Rs 9.38 crore and fiscal and primary deficits estimated at Rs 1,610.71 and 639.14 crore, respectively. The fiscal deficit as a percentage to GSDP is estimated to be 3.40%. “I estimate the debt to GSDP ratio to be marginally lower at 20.14% for the year ending 2014-15 as compared to 20.40% for the year ending 2013-14,” Parrikar said. The total receipts for 201415 are estimated at Rs 9,533.38 crore. The increase in revenue is to the tune of 20.32%. The tax revenue is expected to be Rs 5,092.58 crore and non-tax revenue to be Rs 2,380.51 crore. Parrikar said that the Budget has focused on creating employment in the state and that he proposes to make it compulsory for industries employing 100 and more persons, to recruit trainees equivalent to 5% of their strength, who will be paid a stipend of which 80% will be borne by the Government for two years. The Budget also proposes

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that under the Goa Investment Policy 2013 a ‘Venture Capital Fund’ and ‘Angel Fund’ shall be created to encourage those who have initiative and capacity to take up challenges to build new enterprises through innovative thinking. In a bid to encourage selfemployment and professional careers, the Government intends to support individuals during the initial period of the struggle, by granting them a monthly allowance. A scheme will be devised for this and a highlevel expert committee will be constituted to clear individual cases on merit. Those covered under the Varghese Kurien Scheme will also be eligible for these benefits. The Government has increased the rate of tax on tobacco and tobacco products including cigarettes and other tobacco products from 22% to 25%, but had reduced tax on LED bulbs. Government has also marginally increased the excise

Chief Minister, Manohar Parrikar, mentioned in the Goa Budget 2014-15 his plans to relieve mining stakeholders from loans

duty on liquor. The Government continued concessions to local hospitality industry at the rate of 60% of tax liability from June to September but has increased the entry fee to off shore casinos from the existing Rs 500 to Rs 700. The Budget also proposes to increase the library cess payable on various excise duties and fees, as provided under the Goa Public Libraries Act, 1993, from

the existing rate of Rs 1.00 to Rs 1.50 per bulk litre of Indian made foreign liquor, beer and wine manufactured, imported, sold in Goa and exported outside Goa. Parrikar said a ‘Vote on Account’ would be taken for five months and the Budget will be discussed in detail in the Monsoon Session of the Assembly

COVER STORY ashank desai of mastek

Mastering Technology Ashank Desai, founder member and former Chairman of Mastek, is the chief architect of catapulting Mastek into the Top 20 software companies in India


ew Goans have made as big a name in the IT world as Ashank Desai. One of the leading lights of the Indian IT industry, Desai is one of the founder members of Mastek, a globally famed IT solution firms. That apart, he is a Founder Member and ex-Chairman of National Association of Software and Service Companies (NASSCOM). He has been the President of Asian-Oceanian Computing Industry Organization (ASOCIO), an organization founded for the development of IT in the Asia-Pacific region. He was, on two occasions, presented the Honourable Contributor’s Award for his outstanding contribution to ASOCIO’s growth. Born in Goa, Desai was raised by his mother, thus putting quite a bit of pressure on the family financially. Hailing from a family that was involved in the freedom struggle against the Portuguese rule during 1951-52, it became difficult for them to remain in Goa and hence, they shifted to Nagar Haveli. Among all her dreams for him, the most important one for Desai’s mother was that her son should do well for himself. “After completing my postgraduation from IIT Bombay, I began my professional career with the Godrej brand. In 1977, I got into IIM-Ahmedabad. While at Godrej, I worked closely with Jamshyd Godrej and he was keen that I return to Godrej post my IIM-Ahmedabad stint. Hence, they allowed me to keep the job. It was a really generous gesture. It was at IIM-A that the entrepreneurship bug bit me. Interestingly, I also had classmates who were very keen on starting out on their own. One was Ketan Mehta, a young guy from the B.Com stream. He 16 Business Goa

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suggested that we get one or two more like-minded people and venture out on our own. He picked one friend Sundar from his dorm; the three of us would meet in the evenings and discuss our ‘venture’. Another of our classmate Vasan, too, joined in, but left just a few years later. By then, the four of us had started doing some very interesting stuff,” Desai reminisces. Their lack of capital is what inspired the foursome to look at a wide range of possibilities. “We even looked at making voltage-stabilisers, which was a big business back then due to the existing power problems. We looked at market research. In fact, I met Arun Nanda (of Rediffusion Advertising, then known as a hot-bed of creativity), who was also an IIM-A alumnus, and asked if he would help us and he agreed. Finally, we felt comfortable with IT,” he says. The team was together in Desai’s house at that time. Desai, himself, was back at Godrej. “It was decided that at least one of us, should stick to IT. Sundar joined HCL and Ketan went to Nocil and did IT-related work. I also worked in after-sales service with a focus on IT. We left our jobs one after the other to work full-time for the business,” he says. By 1982, the team was in place. Their initial office was at Ghatkopar, a Mumbai suburb, where Ketan was staying. “It was very tough to start business in 1982. We had only Rs.15,000 as capital and no telephone connection. It took 15 long years to get a phone connection back then. Fortunately, there was a jeweller in Ghatkopar who was kind enough to receive our calls, while we made outgoing calls

Mastek chose to not look at the outsourcing market quite consciously and began building capabilities in providing business and information solutions and has been delivering business critical information for over 30 years

It was decided that one of us the founders should stick to IT. Sundar joined HCL and Ketan went to Nocil and did ITrelated work. Ashank also worked in aftersales service with a focus on IT. They all left their jobs one after the other to work fulltime for the business. By 1982, the Mastek team was in place

The founders of Mastek

from public phones. However, when the calls started increasing, the jeweller found it tough to handle and eventually, stopped helping us. We then hired out space in a business centre at Mittal Towers, Nariman Point. The office was a huge 35 sq.ft.! Our fourth colleague Sudhakar Ram joined us in 1984. He was, in fact, our early customer from Rediffusion Advertising,“ Desai recalls “We decided to build a solutions company, which has been our main differentiator even today. Our DNA has always been to build IT solutions. We launched a stock brokers’ product and followed it with a financial accounting product. We were one of the first companies to do such interesting stuff. Our main focus was business solutions for IT and not outsourcing. Also, at that time, there was no outsourcing. We built our business on the domestic market. It was a tough ride. In fact, my good friend Narayana Murthy of Infosys always says this about us, “One thing I like about you’ll is that you came up the hard way. You came from the domestic market.” We didn’t look at export markets seriously in our first decade of existence, as we had neither the money nor the contacts to explore

export markets. However, many others had started exporting eight or nine years before us. That turned out to be a downside of our approach as we could not capitalize on the early boom of software exports of the 90s. On the positive side, however, in India we were providing IT solutions, because here we were not competing on a cost basis. We solved business problems by providing IT Solutions. We could capitalize on this as we could build the capability to ‘move up the value chain’ faster than others,” Desai explains. An exhibition by CSI (Computer Society of India) proved to be a turning point for the company. The PC (personal computer) had just been launched

and Mastek was the only software company to advertise there. In fact, Mastek was one of the first in India to create software products. The company bagged orders from industry biggies including Citibank and Hindustan Lever through its visibility at this event. And thus, Mastek started getting some kind of traction in the market. “Soon enough we were getting repeat orders. Then we got into the software products business. We wanted to do something interesting. One stockbroker asked us to design a software to automate their processes. And as PC costs declined, small businesses began to buy computers. This assignment led us to create a software product for stockmarket brokers and we ended up having the largest number

of installations. We also came out with a financial accounting package. We were doing reasonably well and all this business gave us a little bit of money. By 1989-90, the economy was opening up, so we signed up with a US company to sell some of their software in India. That was a tipping point. People were buying software from abroad,” he adds. Desai admits that one of the defining moments for Mastek’s confidence boost was in their sixth year of operation, when a study done by Dataquest (DQ) magazine included them in the list of ‘Top 20 Indian IT Companies.’ “We were ranked 7 or 8. At that time, our sales turnover was a mere Rs 46 lakh. That was the size of the market back then. The company then went on to start branches in Bangalore, Delhi and Kolkata. We were established domestically and were just getting into exports,” says Desai talking about Mastek’s growth years. In fact, when they went public in 1992, their promise was not exports but the profits made

Our office was at Ghatkopar, a Mumbai suburb, where Ketan was staying. It was very tough to start business in 1982. We had only Rs.15,000 as capital and no phone. It took 15 years to get a phone connection those days. There was a jeweller in Ghatkopar who was kind enough to receive our calls, while we made outgoing calls from public phones ashank desai APRIL 2014

Business Goa 17


Mastek decided to build a solutions company, which has been their main differentiator even today. The company’s DNA has always been to build IT solutions. That is why they launched a stock brokers’ product, a financial accounting product. Mastek was one of the first companies to do such interesting stuff. It was mainly business solutions for IT and not outsourcing

At the Prabhadevi Office

on domestic markets. The big question, however, was ‘how to crack the overseas market?’ “Because everybody then did exports and outsourcing, and Mastek didn’t. The company was too caught up with the domestic market, which was very small. This wouldn’t work if Mastek wanted to grow into a large company,” he says. Slowly they reduced the domestic market focus, which was a very difficult decision to make as they had many clients. But Mastek was already behind by several years. To do business then was tough. Ashank was the first person from the company to go abroad to explore new markets. By the year 2000, powered by strategy, systems and new markets to conquer, Mastek achieved a turnover of Rs 250 crores with 900-1000 employees on board. The growth rate on the export side was 40-45 per cent year on year. Mastek had consistently ranked among top 10-15 companies in the software industry. Mastek’s core strength lay in systems integration and large projects. Hence, this was the positioning the company adopted. And that’s how Mastek bagged the prestigious ‘London Congestion Charge’ project which has been hugely successful. A Londoner will tell you that he or she may not like 18 Business Goa

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the fact that he has to pay eight pounds to enter the city, but will admit that it functions without any problems. Executing and taking full ownership of such a complex project with impact on millions of citizens was a feat unheard for an Indian IT company. “Had we botched up, not only Mastek’s, but the Indian IT industry’s reputation would have suffered,” Desai says in all seriousness. The project, however, was a feather in both, Mastek’s and Brand India’s cap. The success of the ‘London Congestion Charge’ system landed Mastek another giant project in the UK. The ‘Smart Health Data Warehouse’ provides integration across the health economy that supports improved patient care and strategic cost reduction through near real time aggregation of care information. Information is presented using the latest Web 2.0, portal and data on demand capabilities providing multiple user access views for providers, commissioners and even patients. This is a pioneering project in healthcare management that the company has created much to the acclaim and adulation of the mature UK market. Looking back on Mastek’s growth as an IT super power, Desai says that the future belongs to innovation. “We are today

MASTEK’s list of achievements 2000 Among the first to be chosen by Microsoft to beta .NET 2002 Chosen by Forbes as one of the 200 Fastest Growing Companies in Asia Pacific 2003 Successfully completed the world’s largest .Net project –London Congestion Charging 2007 Ranked 11th amongst the leaders of “Global Outsourcing 100 Companies 2007” by the International Association of Outsourcing Professionals, published in Fortune magazine (April 2007). The recognition came for “Methodologies and Innovation” adopted by Mastek 2009 Ranked in the Top 50 global outsourcing providers in “The Black Book of Outsourcing” published by the Brown-Wilson Group and among the leaders of “Global Outsourcing 100 Companies” by the International Association of Outsourcing Professionals, published in

Fortune magazine (2008,2009) 2009 Recognized among the best 20 Leaders by industry focus: Financial Services Banking, Capital Markets and Insurance 2010 Achieved the CMMi Level 5 (version1.2) appraisal by Software Engineering Institute (SEI) 2011 Ranked high in ‘The 2011 Global Outsourcing 100 service providers list’ by The International Association of Outsourcing Professionals (IAOP). 2013 Ranked 67th in the Leader category in the ‘The 2013 Global Outsourcing 100® service providers’ list by The International Association of Outsourcing Professional (IOAP) 2013: Mastek’s Elixir Distribution Management(EDM) solution received the Celent’s XCelent Service Award, 2013

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Mastek’s Direct Benefit Transfer System Suite makes Government Social Welfare Initiatives more effective through innovative information and communication technology

looking at the insurance sector to derive and create value in.” The company chose to not look at the outsourcing market quite consciously and began building capabilities in providing business and information solutions and has been delivering business critical information for over 30 years now. Mastek, today, is a publicly held global software company providing solutions for more than 30 years to insurance, government and financial services organizations worldwide. With over 3200 employees and $160 million of revenues, Mastek has long standing experience of delivering large scale, business-critical

IT solutions successfully. It has four state-of-art delivery centres and operations across North America, UK, and Asia Pacific regions. In North America, Mastek is known as MajescoMastek. Mastek has over 18 years of insurance domain experience with over 100 insurance customers globally. With a dedicated centre of excellence, Mastek’s intellectual property spans across life, annuities and pensions and property and casualty domains. Every month, Mastek insurance solutions are processing around 1 million cheques and 500 thousand bills delivering accelerated return on investments for the customers. Around 1 million agents and 12 million insured are served on Mastek products. Back home, in the Government domain, Mastek has been collaboratively working for over 10 years

with the Central, State and Public Sector units successfully delivering solutions in areas of Tax Administration, Public Distribution, Social Welfare, Education and e-Governance Services. Mastek has around 125 local government customers and has benefited around 14 million students and 13 million citizens across the globe. Mastek’s service portfolio includes application development and outsourcing, legacy modernization, business intelligence and data warehousing, enterprise mobility, testing and portals. Mastek has designed the Direct Benefit Transfer System Suite that makes Government Social Welfare initiatives more effective through innovative information and communication technology. iTAS, a comprehensive IT solution for Central, State and Local Government tax collection/ administration authorities to streamline and simplify tax collection, maximise revenue

Success of the London Congestion Charge System took Mastek’s image spiralling up in the international market

The biggest investment, which has worked very well, is my IIT and IIM education. You realise that you are not great because the guy next to you is many times better. So you begin to compete and you also build a network of friends ashank desai 20 Business Goa

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collection and predict tax impact is also a Mastek baby. Desai is proud that the company will continue its focus on ‘value creation in providing information solutions – custom made to solving specific problems’. Even after stepping down as Chairman, Desai continues to be chief ambassador of Mastek; He also guides the Mastek Foundation, whose mission is enabling ‘Informed Giving and Responsible Receiving’. Presently, Sudhakar Ram is the Group CEO of Mastek Ltd. Desai is currently serving as Vice Chairman of the Governing Board of Bombay First, and Vice-Chairman of the Society for Innovation and Entrepreneurship (SINE), IIT Bombay. He is a Member of the Governing Trustees and Governing Board of Goa Institute of Management and has just finished his term as Member of the Governing Board of IIM Ahmedabad. He is actively involved with national associations like CII and FICCI at national and regional levels. Desai was also Chairman of Pan IIT Alumni India. IIT, Bombay in 2002 awarded him ‘Distinguished Alumnus’ award for his achievements and contribution to Software Industry. “If I look back at what was important for me to succeed, I would attribute it to three things — education, values and relationships. The biggest investment, which has worked very well, is my IIT and IIM education. You realise that you are not great because the guy next to you is many times better. So you begin to compete and you also build a network of friends. The second is the family environment of values and ethics. Whether it was my mother or my wife, we believe in middle-class values. Obviously, we lead a comfortable life, but we are not living a luxurious one. The third investment was building relationships with colleagues and Mastek founders. We helped and created space for each other to succeed. I couldn’t have done much of this alone,” says Ashank Desai with all humility that has stood good for him in a career



To bolster business confidence MONALIZA DIAS breaks down the various schemes offered by the Directorate of Industries, Trade and Commerce offering incentives. Goa State Financial incentives to the Industries for Certification and Patenting Units which obtain certification/ accreditation by ISI & ISO, or any other international certification and/or patent right on products and/or patent right on products and/or processes, need to be specially encouraged. Such units provide a benchmark of excellence and serve as a model for others to emulate. Under the scheme, a subsidy will be a maximum of `2 lakh per unit. The facility is available only once after permanent registration and all units, existing and new, are eligible.


he Government of Goa’s Industrial Policy of 2003 aims at prioritizing economic development that goes beyond the traditional growth activities of agriculture and tourism. Thus, fresh thrust is placed on the development of industries in the pharmaceutical, bio-technology, food processing and agro based industries and the IT and IT-enabled services sectors. Subsequently, the Government of Goa had announced its Biotech Policy in 2006. The Government’s Directorate of Industries, Trade and Commerce has instituted several schemes in furtherance of these policies. In order to boost industrial and trade development and especially encourage indigenous, small and medium entrepreneurs. The Government has been striving to make the State more economically competent with the rest of the country. Hence the Director of Industries, Trade and Commerce (DITC) has been 22 Business Goa

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initiating various schemes to further the growth o f Goa’s business sector. Currently there are fifteen schemes under the State Government’s DITC. Capital Contribution to Industries scheme This Scheme supports local entrepreneurs and promotes industries in developing special products based on locally developed technology. Also available to units in the tourism sector, except hotels and resorts. Goa State Export Market Development scheme Provides assistance in the form of interest free loans to support industries engaged in exports. Incentives to encourage consumption of Local Raw Material This Scheme envisages encouraging consumption of raw materials by industrial units by

Goa State Employment Subsidy Scheme for the industries. This subsidy is an innovative concept of supporting sustainable employment of local youth. The concept lays great stress on generation of employment and not on capital deployed. It also takes into consideration the fact that employment retained is employment created. All manufacturing SSI units and specified categories in medium and large scale units, including sick units under revival plan, are covered under this Scheme. Interest Subsidy In an effort to boost economic growth in Goa, it is proposed to provide subsidy on interest payable. This will be a great incentive to the investor who could then invest more and seek better returns for himself and for the State. Incentives to Entrepreneurs


This Scheme encourages women entrepreneurs by offering them incentives and subsidies in addition to benefits offered for their specific sector. Share Capital to Local Entrepreneurs and Selfemployed This Scheme encourages local youth preferably of Goan origin to start income-generating activities by providing share capital contribution for all activities related to industrial and self-employment opportunities. Environmental Management Certification ISO 14000 The micro small and medium enterprises (MSMEs) are eligible to obtain Environmental Management Certification ISO 14000. Occupational Health & Safety (OSHAS) certification The micro, small and medium enterprises (MSMEs) which obtain certification are encouraged by the Government. Therefore the financial incentive scheme for obtaining Health & Safety (OSHAS) certification was introduced. Incentives for Micro, Small and Medium Enterprises to obtain Credit rating certification The main objective of this Scheme is to encourage local youth to start income generating activities and to encourage self employment. Individuals or groups of individuals can avail this facility. Reviving Sick Units Recognizing the need to revive and rehabilitate those sick industrial units that are employment oriented, the policy document proposes setting up of appropriate mechanisms for both SSI and large and medium scale industries to identify and help the process of rehabilitation.

These DITC Schemes are highly beneficial to the Goan businessmen trying to keep their business floating in spite of the harsh economical lull A package of incentives is being provided for their revival and rehabilitation. The Government will formulate an “Exit and Closure Policy� for those industries, which are sick and cannot be salvaged. Incentives Schemes under Bio Technology Policy In view of various incentives provided by other States in the country to attract Indian and global companies and entrepreneurs for investment in the biotechnology sector, the Government of Goa also proposes to match such incentives so that potential investors in Goa are not placed at a disadvantage. Tribal areas sub plan i) Scheduled Caste Development scheme. This aims to reduce poverty and um-employment and to create productive assets in favour of Scheduled Tribes to sustain the growth likely to through development efforts. Also

Top 5 reasons as to why an application is rejected 1) Incomplete forms 2) Inadequate documents 3) Incorrect information 4) Incorrect eligibility 5) Inconsistent business plan provide physical and financial security to achieve financial and economic self-reliance by directing benefits of the schemes to individuals or families belonging to the scheduled tribes. ii) Goa Tribal Employment Generation Programme. Through this Scheme, school drop outs, unemployed female and male persons are to take on the challenges of life in the present industrialized economy of the State. They will be guided and provided with monetary and material facilities to come out of poverty and be self employed. State award for entrepreneurs This Scheme aims to appreciate

outstanding, excellence in performance and achievements of Micro, Small and Medium Enterprises of the State in recognition of the contributions made by the enterprises for industrial development, economic progress and generation of employment to the local population. These schemes are highly beneficial to the Goan businessmen trying to keep their business floating in spite of the harsh economical lull. But seldom are people aware of these schemes. The application forms for all DITC schemes are available at the Facilitation Counter of the Directorate of Industries, Trade and Commerce (DITC) at no cost. The form has to be submitted along with all the documentation listed therein. If one finds himself in the midst of a rejection from the DITC, in more cases than one, it is simply due to incomplete forms (See Box). The top 5 reasons as to why an application

is rejected are because 1) the form was incomplete. The Applicant has to ensure the form is complete in all aspects. 2) Inadequate documents. The Applicant has to ensure that basic documents are attached. 3) Incorrect information. All the information provided should be correct. Any discrepancy would lead to an immediate rejection of the application. 4) Incorrect eligibility. Applicants must read scheme documentation closely to ensure all the eligibility criteria are matching. 5) Inconsistent business plan. DITC reserves the right to reject applications on the merit of the business plan (Project Resport as it is generally called) proposed. Applications must cover all aspects of the business plan before applying. Most of us might miss out on availing opportunities in plenty made available to us by the DITC due to our ignorance. In order to be considered, one has to put his best foot forward and present a workable business plan

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Business Goa 23


The Business Goa Awards for Corporate Excellence are back!

The winners of the Business Goa Awards for Corporate Excellence 2013

After its spectacularly successful debut in 2012, the much awaited Business Goa Awards for Corporate Excellence are back. To be held on a different platform this time around, The ‘Bizzies’ aspire to be a centre of excellence. Last year, while the sun set into the Arabian Sea on March 7 2013, businessmen, businesswomen and businesses – 33 of them, took away a personalized award plaque amidst thundering applause and cheering from the Who’s Who of the business fraternity. Here is what some of last year’s winners had to say: I want to thank team Business Goa for honouring me with this Award. We belong to a category (Real Estate Consultancy) that everyone believes is much maligned, but as a company, we have made an attempt to bring some sense of transparency, honesty and professionalism to a field which is not known for that. I have been in this field for seventeen years and have a spotless litigation record and I am pleased that I have been honoured today.

Alan Viegas Real Estate Consultancy of the Year

It is good to have won this Award, on behalf of the Goa Institute of Management. Setting up the new campus and raising GIM to its new standards was a team effort and could not be done by one person and I must credit the whole team at GIM for this Award.

PFX D’Lima Notable Contribution to Education

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I would like to dedicate this Award to the founders of Navhind Papers and Publications and all my colleagues at the company. This is a big appreciation to all our readers. A big thank you to Business Goa!

Pallavi dempo Business Woman of the Year

I think everyone has a leadership quality and everyone has a lot of potential than what they think they have. This potential needs to be explored. I did so, and today I feel that, to some extent I am successful. The credit for this Award goes to my employees who are working with me in different spheres of the business.

Anil counto Businessman of the Year

partnering Excellence I think the Business Goa Awards have filled in the niche to honour professional excellence. I wish that the Awards go from strength to strength.

Atmaram nadkarni Professional of the Year

Today I feel that my hardwork has been recognized by Goa. Thank you very much Business Goa!

sushant tari TPT Productions Pvt. Ltd. Services Company of the Year

I feel great! I am thankful to Business Goa and Harsh for this award

suresh kolvalcar dr. kolwalkar’s galaxy hospital Healthcare Company of the Year

I feel just great! This Award means a lot to me, especially being in the real estate field as real estate persons are not well accepted in society (laughs)

peter vaz Real Estate Personality of the Year

“The NRB Group has been closely associated with Goa’s only business magazine – as advertisers and as an Awardee. In fact, we were the proud winners in the category of “Business Group of the Year” in the maiden Business Goa Awards held in 2012. And our Group holding hotel, HQ won the Award for “Best Dining Experience” in the Hospitality category for the Business Goa Awards held in 2013.” Speaking on the occasion of unveiling the presenting sponsor icon, NRB Group Chairman and Managing Director Narayan R Bandekar said, “I feel that Business Goa Awards have set a benchmark for corporate excellence in the State. There was no business magazine in the State and Business Goa has provided a voice for business, trade and industry since 2009. There were no awards instituted in honour of entrepreneurs and business people in Goa and here too, Business Goa Awards have been hosted by the magazine since 2012. As a businessman and as President of Goa Chamber of Commerce & Industry, I think it is the best platform that encourages excellence in Goa’s corporate space. As a Group, we are keen to tie-up with every centre of excellence and we decided to be the presenting sponsor for this year’s Business Goa Awards. We are sure that the winners at this year’s Awards have worked hard to claim their

title. It is a worthy reward for the trials and tribulations that an entrepreneur and business person endures to take his or her business to greater heights. Goa is at a cusp of change. The State has witnessed trying times economically, but being the optimist that I am, there is no doubt in my mind that Goa will bring back the glory days in business, commerce and industry. I hope that the winners of the Business Goa Awards will, in some significant way, usher in this era of change and create employment in the State and add value to their respective businesses. Their efforts will also help in making Goa known as a business destination of repute from the national and global perspective”

Narayan R Bandekar Chairman and MD, NRB Group

The winners of the Ulhas Jewellers presents Business Goa Awards for Corporate Excellence 2012 APRIL 2014

Business Goa 25


Almost every business has that one feature that they use to their advantage. To Priya and Rhea it was their youth and knowledge of trending styles Priya AND Rhea NORONHA

Sister Act

MONALIZA DIAS discusses with Priya Noronha about her joint venture with her sister Rhea and their goal of making Goa fashion conscious

Priya and Rhea Noronha


s kids, we all dream of doing something out of television such as becoming a superhero or our favourite cartoon character. When we grow a little older, our dreams become more practical – inclining towards our desires and interests. Seldom do these dreams turn to reality. Unless an opportunity surfaces. Priya and Rhea Noronha, sisters and also partners of Shopaholic, a trendy boutique believe that dreams should turn to reality because that could possibly be one of the few things that you would enjoy doing all your life. “I had just returned to Goa after completing my pilot training in Canada. As I had obtained my pilots license from Canada, it had to be converted to an Indian license. The whole process was very time consuming and due to the saturation in the aviation industry, I knew it would be a while before I got a job. Until then I had to find an alternate option. My sister Rhea is currently pursuing her B.Com from St. Xavier’s College, Mapusa. Although she is still young, I consider her to be very mature and business minded. Personally, we both love dressing up and always keep ourselves abreast with the latest trends. Hence starting a boutique was inevitable and was 26 Business Goa

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Our boutique is like no other in Goa. We personally pick each and every item available in the store which is what sets us apart from the rest Priya noronha a childhood dream of ours. We were hell bent on achieving this dream and in September 2012, we opened Shopaholic which has been steadily growing over the last couple of years,” says Priya. Although the zeal to achieve your dreams is the driving force to turn them to reality sometimes you can get your head stuck in the clouds. Priya thinks otherwise; “When you want to start something that you have always dreamed of doing, things such as competition or the likeliness of us surviving in the market did not really matter. The only thing that came to mind was that we would be doing something that we really enjoyed.” She further adds, “Our boutique is like no other in Goa. We personally pick each and every item available in the store which is what sets us apart from the rest. Our customers can be guaranteed that nobody else would be wearing the same outfit bought from our store. Wanting

to achieve your dreams with hardly any financial backing is a tough call but this sister duo managed to pull it off brilliantly! “Initially we had to work on a very small budget. As my sister and I are fairly young we did not have any major amount to utilize towards the business, we loaned eighty thousand rupees from our parents and the rest we extracted from our savings. We had to get a store, furnish it and also get the first batch of products within that amount. It was very tough but somehow we managed,” recalls Priya. She further adds that this tight budget left them without any spare cash to invest in advertising. Hence they turned to freely available social media resources like Facebook and Instagram, which they both say has helped them a lot. Business also picked up through word-ofmouth, as customers who liked what they saw spread the word. Almost every business has that one feature that they use to their advantage. To Priya and Rhea it was their youth and knowledge of trending styles. “We have lots of friends and acquaintances of our age, younger or older to us. So we know how they want to dress and also we know what the trends available in the Goan market are and what are not. This helps us make better choices in our purchases. When we started, we assumed our major clientele would be the younger crowd, but surprisingly a lot of our clients are women from the age group of thirty to fifty. This is because the people of Goa want to dress up. As fashion is not very mainstream in Goa as compared to Mumbai, people tend to get a bit conscious in their dressing options. I strongly believe whatever you wear you have to carry it off well by being comfortable and confident” states Priya. The sisters always fight over the smallest things, be it clothes or the television remote. Priya and Rhea have

found a solution to keep aside the bickering in their joint business venture. Priya reveals, “Since I am free and do not have any other duties constraining me, it is mainly my responsibility to run the business. Rhea makes it to the store after her classes. If there is ever a day that I cannot make it to the boutique I inform Rhea, who makes her arrangements then. I could say our duties are reversible.” These two young and confident entrepreneurs can be considered to be masterminds for being able to use free resources to their best, without having the need to spend a penny on publicity. Priya says, “Last year Shopaholic participated at the Slipdisc Start Up Now!. They asked us a range of questions from the set up to sales. We also put up a fashion show for the event which was a unique use of space. Hence I can say it was due to our creativity that we won the Slipdisc Start Up Now! event last year. After that, we have done quite a few fashion shows mainly for Slipdisc events. This gives us an opportunity to actually do something with our love for clothes besides putting it up at the boutique. It can also be considered a way of promoting our boutique.” These girls have made Shopaholic a reality through hard work and undying determination. No matter where their career takes them, Shopaholic will forever remain because this initiative was not just till their careers picked up, but to give life to a dream so close to their hearts. They do not plan on maintaining just one store but soon plan on venturing further. She concludes, “The goal was to make trending fashion affordable. Today I can say it is. Comparatively our boutique is much cheaper than other boutiques in Goa. Come the high tides or the low, we love this store and we will do whatever it takes to keep this place thriving“


“In terms of infrastructure, Goa does not need much improvement. But in terms of technical support, a lot of improvements need to be made. The Government talks about having a film city in the State, but this is an unfulfilled promise.

Shiva Baba Naik

Bollywood masala, Goan flavour! MONALIZA DIAS speaks to Shiva Baba Naik about his plans for a bigger, better film industry in Goa


oa in the last few decades has been gaining ground as the most sought after location for film shoots in India. Nowadays, every other movie is, more often than not, shot in Goa. Sometimes a dance sequence or at other times, the entire movie is filmed in Goa. With its scenic locales, pristine beaches and appealing culture why wouldn’t the State be so popular? Once upon a time, Goa was still a lesser known destination. But all of this was about to change when one of the pioneers responsible for bringing Goa to notice of the film industry took the initiative to make Goa a popular and known destination. Around fifty years back late Baba Naik was one of the first few to get into the field of line production in Goa. His son Shiva Baba Naik, a Line Producer himself says that initially, for him, it was just a hobby since he was very keen on making Goa a prime destination for film makers. But eventually realizing its huge potential he took up this line as a career. There has been a huge growth in business, and since then there has been no looking back. In 1989, Shiva took over management of the business. He says, “I loved every detail of the business. From finding the most appropriate location, to seeing everything you pictured in your head come to life for the whole world to see, is very rewarding. For instance, the blockbuster

I loved every detail of the business. From finding the most appropriate location to seeing everything you pictured in your head come to life, for the whole world to see is very rewarding Shiva Baba Naik

hit film ‘Agneepath’ was shot at Hotel Cidade De Goa, with a ‘Mandovi Village’ setup and the scene turned out to look great! I was quite happy with the results of our hard work.” “Every film that we see is made beautiful by the people behind the scenes,” agrees Shiva. He states, “Everything is done to perfection because we work tirelessly towards giving the film makers what they require. Once the film makers tell us their needs, budget, story and logistics, we accordingly decide upon the most suitable location. A film location is not a spontaneous decision, and a lot of planning goes into deciding upon a particular shoot. It’s not Shiva with Rohit Shetty while shooting ‘Chennai Express’

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always as easy and glamorous as it looks.” He further adds, “Although film makers usually do get their own set up, the minute details in setting up the location is up to us. If something is required immediately, we have to work around their deadline and source the materials. To be able to source materials in Goa is never an easy task, so most of the time we are on our toes doing tedious tasks. We usually have tie-ups with local vendors, which make the work easier, much more convenient and beneficial for both of us. We also try and give film makers the best possible deals.” Goa is most definitely a very popular film destination for the International film industry as well as different film industries within India such as Bollywood and Kollywood. Undoubtedly, Shiva Baba Naik would have an array of films coming his way. He says, “So far I have taken up four hundred projects. In my career span of 25 years, some of the movies I have worked for are ‘Chennai Express’, ‘Singham’, ‘Bourne Supremacy’ and the likes. I have also worked with some of the most renowned

Bollywood Directors such as Rohit Shetty, Rajkumar Santoshi, Priyadharshan as well as actors like Amitabh Bachchan, Ajay Devgn, Kareena Kapoor and others. I have even worked with the South Indian film industry. Since we have the credibility to achieve the desired outcome, we see films coming our way in abundance.” It is possible to say that these film shoots bring in very high revenue to the State. So what are the initiatives that the State Government should take to improve Goa’s scope in the film world? Shiva says “I believe the Government of Goa should acknowledge us because we not only use tourist locations but other hidden gems of Goa. For instance the movie ‘Chennai Express’ was shot at Dudhsagar. Before the film scene was shot there, the number of tourist jeeps taken to the location was just around three hundred. But after the movie was released, there has been a quantum jump in the number of visitors, and now around eight hundred tourist jeeps go to the Falls. The Government has still not appreciated and recognized the contribution of the Entertainment Industry to an extent that it deserves. Currently, we need to arrange for everything from the extras to hardware, locations, lights etc. If the Government took the initiative to help us out, it would reduce our burdens considerably.” Once upon a time, Goa was not in the spotlight. But thanks largely to film shoots in the State, Goa has peaked as a tourist destination. Shiva says, “Previously we would not get many films coming our way. But now the trend is changing. We have a huge flow of films to work with. Sometimes the scenes which are portrayed as Mumbai are in reality shot in Goa.” The State is one of the most

Fortunately, I am on the Governing board of the entertainment society of Goa. We have been in talks with the Chief Minister who is very serious about initializing something for the people in the entertainment industry. I think it will happen soon,” says Shiva preferred destinations, but Shiva Baba Naik feels that there is still scope of improvement. He says, “In terms of infrastructure Goa does not need much improvement. But in terms of technical support, a lot of improvements need to be made. The Government does talk about having a Film City in the State of Goa, but these plans and ideas are yet to be translated into action. Fortunately, I am on the Governing Board of the Entertainment Society of Goa and we have been in talks with Chief Minister Manohar Parrikar, who is very serious about initializing something for the people involved in the entertainment industry. But this is yet to take form.” He further adds, “The Government must realize the power of the entertainment industry. It has the potential to grow manifold. But as the industry grows, the options increase and so do the ‘objections’. This becomes very

hard for us because the film industry is the only industry that we know of. It is this very same industry which provides bread and butter to around 500 families on a normal shooting day. The film industry is directly or indirectly responsible for bringing in additional revenue to Goa. A case in point is how tourism took off in Goa after ‘Dil Chahta Hai’ was released. The approximate turnover of film shoots in Goa is not less than 300 Crore.” In reality, films not only increase revenues for the State, but they also attract larger number of tourists, especially movie-mad Indian fans. However, locals tend to look upon the film shootings as a nuisance. “It is rather difficult to convince the Goan public about the benefits that accrue all around on account of these film shoots laments this local entrepreneur. It is not only about making money, but also about maintaining relationships. I know

A lot of planning goes into deciding on a shoot

this because I am also a Goan and understand the angst of the locals. But it is important for the people to realize that in the long run, these film shoots will only benefit Goa and Goans.” With all the positives and negatives of the showbiz, Shiva chooses to bypass any sort of notion an individual has for the good of the State as a whole. He says, “One of my main motives is to make Goa an entertainment hub in India. I am willing to go to any extent to help the Government achieve this aim. But at the same time, we must preserve the environment in

which we work in. Goa’s natural locations are slowly dying out and they must be preserved and restored.” He further adds, “IFFI being held in Goa is a huge boon to us because international and national film makers come to the State and experience its beauty and are made aware of the State. So naturally, this will help our business here.” He concludes on a positive note saying, “To us line producers, the word “no” is not an option. For the sake of entertainment, we always make anything and everything possible”

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Business Goa 29



The Goa Investment Policy has to roll out fast to bring in far-reaching economic change in the State How does it feel to be the Chairman of the CII? It’s a great responsibility. More so because my strength lies more in the services and hospitality sector rather than manufacture and industry. Fortunately for me, I worked hands-on last year as the Vice Chairman under Atul Pai Kane and it was a great learning experience. Having said that, I think nothing prepares you as much as when one is actually sitting in that chair! What are some of the projects which will be carried forward from the previous term? Last year, we made a number of representations to the Government in the field of Agriculture, Tourism, Health and the development of a Logistics infrastructure in Goa. Most of it has found expression in this year’s State Budget. We need to take these to their logical conclusion. CII has actively worked with the tourism stakeholders in the State to ensure that we bring in world class tourist friendly hospitality skill sets through the internationally acclaimed “World Hosts” programme. We have also actively championed the use of the earlier Dabolim airport to effectively convert it into an aviation hub for low cost carrier operators thereby helping the State with additional revenues and enhanced air connectivity to other cities. Our proposals for creating logistics hubs at Dharbandora, Verna and Pernem have found their place in this year’s budget announcement. We now need to move towards its fructification. What is the focus of your term as Chairman? I am aware that Goa stands disturbingly low on the skills set index. Goa suffers from low workforce participation rate of 30 Business Goa

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46.3 per cent compared to an all-India average of about 52 per cent. Goa will experience labour shortage of 49,710 by the year 2017 of which 9,820 will be in skilled, 20,800 in semi-skilled and 19,100 in the unskilled domain. Our aim is to enhance these skill sets by working together with the ITIs and the Polytechnics in the State to correct these lacunae. We have already successfully concluded a faculty development training programme on ‘Upgradation of Employability Skills’ designed by CII Pune with all the Goa ITI institutions. Our next focus will be to encourage entrepreneurship in the field of agriculture. There are only 1,63,991 hectares of agricultural land which have been scientifically cultivated. We intend promotion of certain vegetables like tomatoes for processing into puree which can be used as a raw material for units in Goa manufacturing tomato ketchup and sauce and who are currently importing their requirements into the State. We will ensure that the pipeline from Dharbandora to Vasco fuel terminals is completed and this would de-congest traffic into the port city. Verna being ideally suited with air, sea, rail and road connectivity would be focussed as the next logistics hub of the region. Tourism and aviation would engage us this year to bring in world class products and services. We are launching a chapter on Indian Women Network, again a fresh initiative of the CII, which proposes and emphasizes on interventions for women to Enable, Engage and Empower them in career mentoring, skill development, gender sensitization and engaging in academia and corporate involvement.

Pic : Ashutosh Parvatkar

Recently installed Chairman of the Confederation of Indian Industries (CII) Goa Council, Kirit Maganlal in conversation with ALISHA PATEL about the various challenges and goals that his term will face

What are some of the policy changes that you would lobby for with the Government? The most important item on our Agenda will be to roll out the State Industrial & Investment Policy that has been presented to the Government by the taskforce headed by my predecessor. The Policy, once it has been notified, will solve most of the ills that are affecting the industrial climate in the State. It will encourage and attract fresh investments in Goa creating more jobs and wealth creation. The next important step is to free up the 36 lakh sq mts of land that is locked in litigation. Issues such as GST, VAT and Entry Tax on some conscientious issues which will have to be seriously addressed.

growth. We look at membership as to what is it that the member can bring to the Confederation. The vision of CII is National inclusiveness and we allow smaller State issues to be addressed by the local associations. Last year, CII serviced over 200 business delegations into India, comprising more than 2000 businessmen and has taken 50 Trade Missions out of India. This exchange has resulted in the signing of 71 MoUs. CII maintains a strong traction with the State and National leaders in politics and trade circles. We shall be very happy to welcome more members from the MSME sector this year and help them grow their businesses.

What initiatives will you take to increase the CII membership base in Goa? CII is not about membership

How is CII different from other trade and commerce organizations? Confederation of Indian Industry

We are launching a chapter on Indian Women Network, again a fresh initiative of the CII, which proposes and emphasizes on interventions for women to Enable, Engage and Empower them in career mentoring, skill development, gender sensitization and engaging in academia and corporate involvement (CII) is a trade association representing the interests of Indian businesses in various sectors, chiefly including engineering, manufacturing, consulting, and services. CII has direct membership of over 7100 organizations and indirect membership of over 90,000, from around 257 national and regional sectoral associations. CII has a national base and has a strong say all the levels whether National, Regional and Local. CII has worked with state Governments like Vibrant Gujarat or Global Investment Summit in Madhya Pradesh. Nationally, we have hosted the Agri-Summit in Nagpur and Partnership Summit in Bangalore. We have international offices and are initializing a lot of bilateral trades with other countries. We also try to focus on future growth areas like City Connect or Young Indians (Yi) for young entrepreneurs which are visionary concepts. Last year, in Goa, we focused on a Logistics Summit as this

The most important item on our Agenda will be to roll out the State Industrial & Investment policy that has been presented to the Govt by the taskforce headed by my predecessor. The Policy, once it has been notified, will solve most of the ills that are affecting the industrial climate in the State industry has great potential to give the impetus to the state economy. There was a talk of numerous pilot projects for the city of Panaji? Where are they headed? Yes, CII initiated the city connect programme called ‘Panjim First. This is an offshoot of the CII’s

India@75 initiative. ‘Panjim First’ aims to bring about a positive change in the urban lifestyle of the city of Panjim in a number of ways. We aim to work along with the CCP, the Government and various well meaning NGOs to help decongest the city roads, improve the city transportation system, focus on city hygiene, create friendlier spaces for people to walk, mix and play and generally make the city life more liveable. We have a strong support here from the Charles Correia Foundation. Recently, under the dynamic initiative of Vijay Hede and Dean Menezes, we brought in nearly 150 titles of popular science and education books to the Central Library in Panjim. We are currently working with the CCP and Embarq India to discuss plans for providing a “Public Bicycle Sharing” Concept for the city. What according to you are the biggest economic challenges in Goa today and

what is the CII’s action plan to combat it? Closure of mining in Goa has economically taken Goa back a number of notches. We are not talking of the environmental benefits here which certainly have been a much needed succour to the State. It must be said here that despite this major setback, Parrikar has led the State administration extremely well. It is certainly difficult to steer your cart with your hands tied behind your back. However, certain delays in policy rollouts have had negative consequences on the State economy. Major industry players are reconsidering their options of expansion plans in the State. We have representations for potential big ticket investments into the State provided the Government is responsive to their just demands. We need to kick start this positive sentiment immediately. We shall need to shift into higher gear immediately after the election results are declared

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Business Goa 31

As a unit, Ayuron receives the designs for the implants from their clients in the United States, following which they work on the prototypes and manufacture according to their requirements. Utpal

INDUSTRY Utpal Parrikar

Ayuron Implants Pvt. Ltd

Precision perfect

Utpal Parrikar talks to ALISHA PATEL about Ayuron Implants Pvt. Ltd. and their operations

State-of-the-art machinery


ome is definitely where the heart is no matter how successful you are. This was especially true for Utpal Parrikar, who despite having a successful career as a computer engineer in the United States decided to move back to Goa to take up entrepreneurship. Though there were plenty of opportunities available in the I.T field itself, Utpal, who had spoken to numerous professionals from the field of orthopaedics decided to invest in this field as there was a lack of experts manufacturing precision implants required for surgeries. Though he ventured into a field completely different from his area of qualification and experience, Utpal reveals that his expertise as a computer engineer is required at every step of the process in his entrepreneurial venture. Though the idea to start Ayuron Implants Pvt. Ltd. began to take shape in 2008, it was only in 2010 that the plant began full-fledged operations with the manufacturing of precision machine components and orthopaedic implants and instruments. Speaking about the decision to manufacture orthopaedic implants, Utpal says that the expertise to manufacture these components was lacking 32 Business Goa

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in the United States. “Over the years, I built a strong contact base of Orthopaedic surgeons in the United States. Through my interactions with them, I found out that they required precision manufactured implants, plates and screws for their surgeries. The manufacturing expertise in the United States was lacking and they often turned to markets like China and India. Taking advantage of this, I decided to venture in Ayuron to provide orthopaedic companies in the United States with these implants and instruments and since then there has been no looking back,” he informs. As a unit, Ayuron receives the designs for the implants from their clients in the United States, following which they work on the prototypes and manufacture according to their requirements. Utpal also states that they are the (Original Equipment Manufacturer) OEM for many reputed orthopaedic companies in the United States as well as manufacture precision machine components for a number of Indian companies. “We are a specialized manufacturing unit. At most, we may manufacture roughly twenty to thirty pieces of each unit. This may seem like a small number, but when you look

at the larger picture of specific components for a specific purpose, it does not seem small. Right now we are manufacturing implants for spinal surgeries, trauma implants as well as other plates and screws as required. When we first began operations, we started with orthopaedic instruments, today we have moved on to implants as well,” he states. Explaining more about the technology used in the manufacturing process, Utpal states that Ayuron is completely run by fully automated CNC machines. “A majority of the products that we manufacture require to be made with high accuracy, which we are able to manufacture perfectly. In fact, the machines used by us are of such

sophistication, that we are among the handful of manufacturers in India to have such machinery – some of which are imported from Japan. Once the raw materials are loaded in the machine, they run continuously which ensures that there is a continuous flow of production.” He also adds that his is a process based industry, a trend which is yet to catch on in Goa, and hence his operations are still in a nascent stage. “As we supply to the United States, we have to maintain a very high standard of products. For this, we have systems in place which are as per international guidelines. We also have to strictly adhere to the local Food and Drug guidelines. Ensuring that the products are world class, Utpal reveals that they work strictly with Titanium alloys as these have been found to be the safest metals on the human body as they are non-reactive. “Working with Titanium can be challenging as it is not a very widely used metal and requires special care and machinery. This makes operations tough at times, but it is nothing that we haven’t been able to handle,” says Utpal. Talking about the growth of the company, Utpal proudly states that though the company is still in its formative stage, they have been doubling their production outputs every year. He is also confident of further growth in the coming financial

Over the years, I have built a strong contact base of Orthopaedic surgeons in the United States. Through my interactions with them, I found out that they required precision manufactured implants, plates and screws for their surgeries Utpal Parrikar

Parrikar also states that they are the OEMs for many reputed orthopaedic companies in the United States as well as manufacture precision machine components for a number of Indian companies year as they have sorted through their processes and are on the right track to accelerated growth. “During the first years of production, we no doubt took some time to adjust to the new systems that we put in place. Now there is no looking back for us. We have also obtained an ISO 9000:1 certification for our products. Our client base too is growing steadily” he adds. Like every industry, Ayuron Implants Pvt. Ltd. too faced its share of struggles, one of the biggest being the lack of human resources to work the


sophisticated machinery. “I remember a time when I myself went on to the production floor and learnt how to operate the machinery and then trained local workers. Setting up all our processes too, was tougher than we expected. Revealing that till date, Ayuron Implants Pvt. Ltd. has not claimed any subsidies from the Government, Utpal is proud of being completely self sufficient. “What happens with availing of Government schemes is that there is plenty of red-tapism and bureaucratic hassles. To avoid this, we have remained self-financed and we operate from the money invested by our clients,” he says proudly. Utpal also laments the lack of an Industrial Policy as he feels there should be clear guidelines concerning industries like his which are non-polluting. “Such kinds of industries need to be promoted as industries like mine are not only non-polluting but

CNC Automatic Lathe

also bring in foreign exchange,” he explains. A key factor in the success story of Ayuron Implants lies in the business module. They get their designs directly from the United States and export back to the United States. There is no local competition in their field, barring a few manufacturers of similar products in China. This, according to Utpal, keeps them on their toes and is a constant motivation to work harder to meet and exceed international standards. Looking ahead, Utpal is

confident of doubling the production output as well as the turnover. He also has plans to expand his unit which would make his dream of larger outputs come true. Ayuron is also targeting larger orthopaedic companies including Johnson and Johnson. At the same time, he also reveals that he is not very keen on penetrating the domestic markets as his designs are exclusive to the companies that he deals with in the United States and strategic reasons are keeping him away from the domestic markets

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Business Goa 33


Just a few months into the business, TaxiGo has already built its presence across the State with numerous services offered to all major tourist destinations including markets, temples, beaches, railway stations, airports and other popular destinations like malls and movie theatres

Taxi go

Go everywhere… with TaxiGo! Raghu Shetiye talks about his brand of taxi services TaxiGo to ALISHA PATEL

Raghu Shetiye


fter a close friend was on the receiving end of the heavily taxing, taxi services in Goa, Raghu Shetiye decided it was about time the process of hiring a taxi was streamlined and on August 15, 2013, he gave Goa the solution to their problems with his on call taxi service, ‘TaxiGo’. “Having travelled extensively across the country, I heard umpteen complaints about how the exorbitantly priced taxi services were a dampener to their otherwise perfect holiday in Goa. Something needed to be done,” says Raghu on why he started TaxiGo. With an aim to clear the air surrounding the misconceptions

34 Business Goa

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about taxi operators, Raghu says that it is only because of a few taxi operators, that the whole industry has been branded as unaffordable and arrogant. “The industry over the last few years, has gained a very bad reputation among both – locals and tourists. The aim of TaxiGo is to provide good, honest and affordable services to customers,” he explains. Despite being the in the business for merely a few months, TaxiGo has already built its presence across the State with numerous services offered to all major tourist destinations including markets, temples, beaches, railway stations, airports and other popular destinations like malls and movie theatres. “We even offer special services for hire of taxis for the whole day or half the day depending on the customer’s requirements. Apart from local services, we also offer taxi services to Murudeshwar, Gokarana, Kolhapur, Belgaum and Hubli,” informs Raghu. TaxiGo also aims at targeting the growing corporate sector of the State as well as locals who are otherwise skeptical of hiring taxis. Commenting on the response to this unique service in Goa, Raghu exclaims that the response has been phenomenal! “It is

better than we expected and over the months, I have been flooded with congratulatory messages for starting this much needed service,” he says ecstatically. He also adds that since the start of TaxiGo in August 2013, with a mere twenty cabs, today their operations and reach has multiplied to such a large scale, that they now have over one hundred and seventy taxis under their network. Explaining more about their operations, Raghu mentions that they do not own the taxis in the network and they operate in a different sphere from other operators. “Our main role is that of a booking and managing agency. When a client calls us, we immediately connect them with a taxi operator from the nearest locality at a fixed reasonable rate. This works in everyone’s interest, as local taxi operators business is not hampered, and the customer is assured that they will not be ripped off,” he states. To facilitate the connect, Raghu has invested in systems to track the network. In order to give his customers a peaceful and pleasant journey, the team at TaxiGo personally verify the credentials of each and every driver before hiring them. They also have systems in place to monitor their drivers to make sure their customers are not taken for a ride. “Taxi drivers cannot overcharge customers in such a scenario as we have fixed rates which are cheaper than other operators,” says Raghu. He also adds that what makes TaxiGo the preferred choice of taxi operators in the State is that

they guarantee a customer will receive a taxi within ten minutes of placing their request. This, he attributes to the large network that they have built of taxis located conveniently at every nook and corner of the State. When asked about how he marketed his service, Raghu is quick to reveal that apart from advertising in major newspapers across Western India, he too has invested a lot of time in personally marketing TaxiGo by handing out marketing material about this service as well. “Word of mouth too, has helped a lot,” he adds. Given the recent spate between the Government and taxi operators, Raghu comments stating that as compared to other States, taxi drivers in Goa are much more educated. For many taxi owners, this is their secondary business as they have other business interests. Then there are those who are completely dependent on their vehicles as their means of earning their daily bread. “We help these drivers by tying up with them,” he reveals. Looking ahead, Raghu foresees a bright future; but only with the right support from the Government. “Unfortunately the Government and a large majority of the taxi drivers in Goa do not understand the concept of TaxiGo and view us as a threat. What I want is to help these drivers/ owners. I will even help these drivers to form an association or a co-operative with the right kind of marketing. TaxiGo has a long way to go and I can only see the service and the brand becoming bigger and better” concludes Raghu


Group Priority

Customer Priority at its best! Group Priority have been providing world class services to customers right from the start. Orchid Avenue at Merces


roup Priority, as the name suggests, is a young and vibrant business group established by brothers Parind and Swapneel Nachinolcar. The Group has interests in construction, real estate and automobiles as the core businesses and engage the strength of over one hundred and fourteen employees. Though started a little more than five years ago, the Group finds its roots in a family business involved in the automobile, spare parts and electronics trade since the Portuguese colonial era, initially being the sole importers for Honda Motor Co. Ltd. (Japan), Lambretta (Italy) and Pye Electronics (England) started by the erstwhile generation under the name of M/s Nachinolcar Irmaos Limitada. After liberation of Goa, the business was carried on for some time even venturing into the assembly of Radios and transistors, though eventually the health of its partners forced the business to be wound up. The business was again resumed in the year 2004 by the present generation, foraying into real estate development and construction and subsequently as dealers’ for Kinetic Motor Co. Ltd. for the territory of North Goa. Though it was a bumpy start with a lot of resistance and knotty problems to overcome in the beginning, it provided 36 Business Goa

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the much needed learning and understanding of the system and the trade in general. This then led to the foray into the four wheeler segment by acquiring the dealership for Skoda Auto Passenger cars for the State of Goa. Soon ‘The wings of change’ Honda two-wheelers, was added to the portfolio and the Priority Group was formed. With stateof-the-art infrastructure and a strong team which works in a result oriented way, Group Priority has not since looked back. Its continued efforts to provide prompt and delightful service to the customers has paid off by a regular increase in sales and after sales income for the Group. Priority Construction A major contributor to the Group’s success has been the construction and real estate arm started in 2004. Having completed a number of residential and commercial projects in Taleigao and surrounding areas, it is presently developing a residential project at Merces.

Aptly named ‘Orchard Avenue’, this habitat is set in the midst of serene surroundings close to the city and boasts of all modern amenities which aims to provide a quality home assuring value for money to over one hundred and twenty buyers. Being a project of two and three bedroom apartments, the idea is to construct homes which give you a sense of luxury and convenience. Orchard Avenue has been designed and fitted with premium specifications and finishes keeping in mind customer delight at all times. Catering to the ever increasing need for affordable homes in Goa, Orchard Avenue offers you an excellent opportunity to have a great home with all the facilities of a premium house well within your budget. This is a new concept breaking the old notion that luxury only comes at a price. Orchard Avenue is equipped with elevators for each block, CCTV cameras, in-house gym/clubhouse, jogging track, and dedicated kids play area, badminton and basketball courts

The Priority Group’s exclusive Skoda dealership

The vision of the Group is to provide quality products and services to their clients at affordable prices using modern efficient technologies and design and by creating a brand that will stand for trust and ‘value for money’

surrounded with landscaped gardens, the perfect place for you to raise your family in a secure and comfortable zone. The feeling of living in the midst of greenery accompanied by the melody of chirping birds, yet being close enough to the city to get you to work in time with no hassles, availability of markets and upcoming schools, in close proximity to the newly constructed Lusofonia stadium which will be open to public to enjoy all types of sports, as well as the recently announced convention and exhibition centre where all the future shows and exhibitions will be hosted, just goes to show the locational advantage of the project. The appreciation for an investor will also be huge as all these amenities will be functional by the time the project nears completion. The vision of the Group is to provide quality products and services to clients at affordable prices using modern, efficient technologies and design by creating a brand that will stand for trust and ‘value for money.’ With a healthy land bank of properties lined up for future projects, Group Priority is only looking forward and planning on creating new projects which will help Goa come out of the conventional style of apartments that builders are providing. Timely completion and ‘built to last’ are the founding principles on which the groundwork of the construction business of this Group is laid. With an impeccable track record in the market for giving their customers the best quality and service for their money, it has been the Company’s motto to always keep its customers satisfied. The good business ethics of Group Priority are not only visible to their customers but also prominent with their suppliers and bankers

night of the

business stars

It’s that time of the year when the best and the brightest of business in Goa will enjoy their moment in the arc lights. The NRB Group presents Business Goa for Corporate Excellence 2014 will illuminate Goa’s business space


Autobuzz Goa

Autobuzz Goa hosts Women’s Drive 2014

The participants of Autobuzz Women’s Drive 2014


utobuzzz Goa, Goa’s only auto magazine in association with Quinta De Valadares and Gawin’s, Verna organized an exciting Women’s Drive 2014 Rally on 16th of March, celebrated in honour of Women’s Day. The day which started bright and early, witnessed an overwhelming turnout of thirty cars and over eighty participants and lived up to its promise of being a fun filled event. Post registrations, a speech on Road Safety and Awareness was made by Sandeep Dessai, Assistant Director of Transport, Enforcement – South Goa, followed by flag-off ceremony by Percy Coutinho, Assistant Motor Vehicle Inspector - Margao. As part of the drive, a convoy based drive to Cabo De Rama was held along with a photoshoot

at the picturesque location following which the participants assembled back at Quinta De Valadares for a scrumptious lunch. Leaving nothing to chance, an ambulance provided by the Wockhardt Hospital was on standby at all times, Also on display were test drive cars from Fiat, Tata and Renault. To make sure that the ladies had a good time, various contests were organized which saw the women battle it out fiercely! Spot prizes were awarded for an automobile based Quiz, along-with prizes for categories like ‘Best Dressed Car”, ‘Best dressed participants” etc. Interactive Quiz sessions and test drives with companies like Renault, Tata & Fiat also had the participants winning loads of prizes. The organizers also held an entertaining obstacle course

with timed runs which was designed to test the driver’s skills. Prizes included cash prizes from Team Goa, cash voucher from Performance Stroke, Wine Bottles from Vallonne Wines, meal coupons from Alila Diwa Goa, Martins Corner, Fisherman’s Wharf and Prizes from Karlson and Autobuzz Goa. A total of about Rs.40000 worth of prizes were distributed at the event. Also on display was a Tata Nano provided by Auto Industries Goa as a blank canvas for the Women

The rally being flagged on by Sandeep and Percy, (left) Anunsia and Pradnya

to paint on. With a wide variety of vehicles right from an Audi Q7, a Mini Copper to a Tata Nano taking part in the events, this first of its kind event held in Goa was a fabulous time for all Women to get on the wheel and have some fun as they all eagerly wait for the next Women’s Day Drive

the Voice of Business in Goa

38 Business Goa

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book shelf

St. Xavier’s win National Level Event on Advertising St. Xavier’s College of Arts, Science and Commerce, Mapusa, Goa won first place at the National Level Advertising Event titled “Mad: About Advertising” organized by K.L.E. Society’s CBALC (College of Business Administration, Lingaraj College),Belgaum. The extremely competitive advertising event had 24 BBA Colleges vying for the championship. Riddhish Panchigar, Fred D’Souza, Kyle Ferrao and Ishita Godinho of the BBA Department made St. Xavier’s College proud with their outstanding performance in the various rounds over a gruelling weekend i.e. ‘Strato’ that focused on Strategy and Conceptualization, ‘Creto’ with an emphasis on creativity and advertising design and ‘Medio’ which was based on media

planning and execution. This event is yet another addition to a host of wins at the State and National level achieved by the BBA students this year. The Guest of Honour was Dr. Vishnukanth S. Chatpalli, Chairman of MBA and Special Officer of Rani Chanamma University, Belgaum. The Team Escorts, Prajwal V.C. and Vasanti Budihal showed commendable hospitality which made the Goan team feel comfortable in the foreign environment. The Event Coordinator Nitin Patil helped ensure that the event turned out to be a success

Donald Wayne Hendon

The Way of the Warrior in Business Discover hundreds of powerful out-of-thebox tactics to help you develop the killer instinct that turns you into a powerful Business Warrior who wins big and wins often. You’ll learn how to apply the military strategies and tactics of Sun-Tzu, Mao Tse-Tung, the US Army, and others to attack your competitors, invade attractive markets and defend market share to maximize your sales and profits. The Way of the Warrior in Business provides assessment tools, checklists, action plans and other marketing weapons that you can use to: • Win price wars, product wars, promotion wars and channels of distribution wars. • Repel attacks from big-name brands and actually defeat them. • Win the battle for your customer’s mind. • Effectively market your products and services, and yourself. • Plan well – decide on the right things to do and do them right. • Become more creative and out-think your competitors. • Get people to do what you want them to do. Donald Wayne Hendon, PhD, is a bestselling Author, Speaker, Consultant, Coach and Trainer in the fields of Marketing, Management, Negotiation and International Business and a lifetime member of the Vietnam Veterans of America Publisher:


Jaico Publishing House


Chowgule College Open Day concludes with a good turnout

Chowgule College Open Day held at the Campus in Margao saw a very good turnout. Students as well as parents got the opportunity to visit the college and have a look at the facilities available. Open Day is held every year, with the aim of helping students make better career choices. It featured stalls set up by more than 20 various Departments of the College. Prospective students were given a tour of the course structures, evaluation methods and the college infrastructure. Chowgule College has always striven to provide the best to its students, be it in terms of infrastructure, support services, technological input, mentoring or otherwise. Mentoring has always been an 40 Business Goa

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integral part of the education process, with regular Student – Mentor interface, evaluation of progress and planning of academic activities. The core faculty members with their strong credentials strive towards innovative learning, ensuring that the Course is in sync with the latest academic and social requirements. Parvatibai Chowgule College of Arts and Science is the oldest Institution providing instruction in Arts and Science streams up to the Degree and Post Graduate level in the State of Goa. Chowgule College believes in imparting all-round development to its students, hence there is a constant emphasis in sports related activities and extra-curricular facilities. The campus boasts of an artificial turf laid on the foot ball ground, one-of-its-kind in the whole of south Asia, state-ofthe-art Sports and Physiotherapy Center, student shopping centre and a well-designed studentfriendly cafeteria

Across: 1 – Fast food chain selling submarine sandwiches and salads (6) 4 – Private sector bank, formerly known as UTI (4) 5 – Indian entertainment co, which made Kabhie Kabhie and Jab Tak Hai Jaan, among others (4,3) 6 – German F1 driver Schumacher (4) 8 – Australia and New Zealand Army Corps, in short (5) 10 – Magnetic Ink Character Recognition (1,1,1,1) 12 – Former RBI governor Bimal _____ (5) 14 – Third Party Agreement, in brief (3) 15 – Annual cinema event hosted in Goa (4) 16 – American Express, in short (4) Down: 1 – Suiting company “Come home to _______” (7) 2 – _____ Accords – regulations for the banking industry (5) 3 – Short lived OS from Windows (5) 4 – Indian clock manufacturer (6) 7 – Indian hospital chain (6) 9 – Japanese imaging and optical products company (5) 11 – Infrastructure Development Finance Company, in short (4) 12 – Programming language is also a variety of coffee (4) 13 – Texas is known as the ____ star state (4) answers to crossword 52 Across 1 – Campbell 5 – Procter 7 Assignment 11 MLA 12 – NSA 14 – ELCO 15 – Chowgule Down 1 – Cipla 2 – Maoist 3 – Lorem 4 – Cosmetics Avon 6 – Toggle 8 – Evil 9 – Toyoda 10 – ONGC 13 – Ado 14 – EPL

professional dossier Francisco Tavora

Even if given a second chance, it would still be the practice of law for me. In the quest of ensuring that justice is administered without fear or favour and without mincing words, is a facet of life which I find fascinating about the profession


Courting Justice

Advocate Francisco Tavora talks about his long and fulfilling career in the legal profession

Francisco Tavora


n my formative years, apart from academics, excellence in sports and music was encouraged in the home. My late dad, Lubé Tavora, who was deeply passionate about the game of football, took immense pride if any of us children excelled in the game. My mom, Imelda Tavora, a disciplinarian, would encourage other activities, but only if grades in school and college were not on the decline. In the mid 1960s till the early 70s, I spent time in a boarding school in Bangalore where preference for admissions were given only to those who had also achieved success in activities beyond the classroom given the intense inter school rivalry prevalent in those days. Wearing the school blazer in any competitive activity was akin to the pride one felt in representing the country. The seeds for a career in law were sown while in school at Bangalore and were nurtured in the years that followed. Having graduated in the Law and having obtained the licence to practice the profession, I joined the Chambers of the late Adv. Vinayak Nevrenkar in Panjim. I am immensely grateful to him

which gave me immense satisfaction was when as a Public Prosecutor I succeeded in bringing As a Public Prosecutor, I to justice members succeeded to bring to justice of an international members of an international network who were network who were involved in trafficking of minor children for involved in trafficking sexual exploitation of minor children for sexual exploitation. The other cases worthy of mention are those that came to be tried by me in my capacity as a Judge when posted in Daman, the place then known to be a haven for smugglers. Daman was so far away from home and being a bachelor at that time, it for having inculcated in me the was a lonely period for me. The attributes of immense patience positive aspect of that time was and painstaking hard work, that I was able to contribute in especially in researching case large measure to the upgradation law, which has stood me in good of the Daman Court premises and stead over the years and even till its infrastructure. So much so date. The efforts put in during my that tourists from neighbouring years as a Junior lawyer gave me Gujarat and Maharashtra began a fair knowledge of the several visiting the Court as if it were branches of the Law and provided some tourist attraction. me with the right impetus to The post Judgeship years overcome challenges that were gave me the freedom to travel to follow viz. clearing the tests with family and friends, both for appointment to the posts of within and outside the country. Assistant Public Prosecutor and The passion for travel has not then Judge/Magistrate. Although diminished despite the fact that the journey in both the capacities both my sons now seem to find was gratifying and extremely it difficult to co-ordinate time rewarding, I chose to opt out to undertake family outings. since ‘transfers’ meant staying Notwithstanding the rigours of away from family for long spells our work, my wife and I make which was taking its toll. time to be part of our sons’ Even if given a second activities. The older boy Nikhil, chance, it would still be the an all rounder par excellence, Law practice for me. The will be graduating in Electronics quest of ensuring that justice Engineering from the BITS Pilani is administered without fear (Goa Campus) this year. The or favour and without mincing younger son Sahil, while studying words, is a facet about the Commerce has also been training profession which I find fascinating and working extremely hard The cases that I have dealt at the game of football and in with either as Judge, Prosecutor his quest to achieve perfection or Lawyer are far too many has even travelled to Brazil and to mention, but a particular England. He also has the honour one that comes to mind and

of being a part of Goa - India Football squad which bagged the coveted gold medal at the recent Lusofonia Games held in Goa. I am assisted by team of very capable Associates. I always believed that ‘delegation’ is the key to achieving positive results. In the process, I am able to devote time and effort to administer the Office more efficiently, as well as conceive fresh ideas to make output in the office setup more productive without compromising on quality. The people whom I feel indebted to for inspiring me to join the profession and achieve success therein are many. My late parents, firstly for having helped me to discover my calling and thereafter encouraging me at every step of the way. My wife Vrida, herself a lawyer, who chose to give up her legal practice to tend to the home and children also takes pride of place. My sons Nikhil and Sahil also deserve accolades for their immense patience and understanding. And last, but not the least, the fabulous lot of my Associates viz. Advocates Linus, Anthony, Dinesh, Chandan, Pritesh, Sherol, Cyndiana, and Jose. My motto most certainly would be to ensure that my Associates carve out a successful career for themselves. The regrets about and the downside of the profession is that often, one finds the justice delivery system in our country is not only ‘blind’ but is also ‘lame’. However, it is heartening to note that with the regular appointment of additional Judges and the framing of Legislation which stipulates a time frame within which a case should be finally disposed off, a day will surely come when the dockets of pending litigation will be considerably reduced if not entirely eliminated As told to MONALISA DIAS

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Business Goa 41


After consulting with experts from the field, Michelle put forth her ideas to Developers who were extremely positive about her venture and were a great source of encouragement. Moving back to Kuwait, Michelle personally took up the challenge of creating her website

Michelle Fernandes

Putting Real Estate on the web Goabizzle website founder, Michelle Fernandes in conversation with ALISHA PATEL


ichelle Fernandes, who has spent fifteen years in the Gulf, always knew that she wanted to be an entrepreneur. While relocating from Dubai to Kuwait, Michelle came down to Goa where she met up with a friend who suggested that she should get into the real estate business. After being given a couple of contacts, Michelle immediately began working towards making her dream come true and began to seriously consider the type of business model that she would adopt. After consulting with experts from the field, Michelle put forth her ideas to Developers who were extremely positive about her venture and were a great source of encouragement. Moving back to Kuwait, Michelle personally took up the challenge of creating her website. “I was no genius in web designing and hosting. Everything that I now know, I learnt from scratch. Eventually, I bought the domain name and was able to put up a simple, yet informative website. From then onwards, there was no looking back for Michelle who worked tirelessly to promote her website. When she first began operations, she remembers working with merely a handful of Builders. “As the popularity of Goabizzle increased, we now have hundreds of properties all over Goa. We specialize in new, under construction and resale properties which include Apartments, Villas, Row Houses, Duplex, Portuguese Houses, plots, commercial as well as exclusive high end properties” she informs. Success has come her way also through the immense support of her husband, who not only conceived the “Efficiency means Business” motto of Goabizzle, but also helped her design her logo. 42 Business Goa

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Goabizzle does not charge buyers any commission on a deal. Our business model is seller-focussed We also developed a “unique, out of the box” mode of operation, where unlike other real estate agents “Goabizzle does not charge buyers any commission on a deal”. She is also grateful to the support that she has received from the Goan community in the Gulf, who helped promote her website through various platforms like newsletters including Gulf-Goans, Bahrain Xitt Koddi Newsletter and NRIQatar Goans. Operating in a sphere where brokers are looked down upon, Michelle acknowledges this fact stating that the biggest challenge in the real estate business today is finding a broker who is efficient, honest, and transparent and principle oriented. “When I founded Goabizzle, my main aim was to bridge the gap between the buyer and seller and to give the buyers the added advantage of not being charged a commission. We also focus on ensuring that the deal is conducted in all fairness, ensuring both the buyer and seller get the maximum value for money,” she states. Being a business venture, generating revenue is a vital part of the operations. Respecting the actuality that everyone works hard for their money, Michelle always wanted to do things differently. She understands how difficult it is for some people to

afford property in Goa and hence her motive has always been to never overcharge her client by charging them commission. She deals sincerely with her customers and is happy to earn her revenue directly from the developer or owner. Having a unique business venture is bound to bring about its share of challenges. Goabizzle too was no exception. From receiving emails from competitors who threatened her to shut shop as she ‘was spoiling’ the Goan market and their business, to having her website frozen, Michelle has seen it all. “I remember the time when a Goan competitor having roots in the United Kingdom thought he had marketing rights to a Developers property and just to get back at me, got my website frozen. Anyway with the kind help of the Developer himself, my website was restored back after fifteen odd days. So yes, launching Goabizzle has not been an easy ride for me. I strongly believe all the hurdles that I have come across in life have just made me stronger, wiser and even more determined to be successful,” says Michelle confidently. Talking about entrepreneurship, Michelle states that while it is definitely not ‘a walk in the park”, it is even more challenging for a woman. She laments that women tend not to be taken seriously and it requires greater efforts to be accepted in the entrepreneurial space and respected for it. “Women are stereotyped as weak and easy to fool and there have certainly been attempts to cheat me. I am sure quite of few of them have been successful too. But we need to live, learn and move on” she states. On the personal front, Michelle opines that for a woman juggling the various roles of entrepreneur, home maker,

Michelle Fernandes

wife and mother is no doubt difficult, but with the right kind of support from her family she has been able to balance all her roles flawlessly. Looking ahead, Michelle reveals that for the moment Goabizzle is based in Kuwait. However, expansion is on her mind and she is already examining the prospects of setting up an office in Goa. She is also in the process of acquiring new projects across the country as well as looking to expand operations to other countries. On a concluding note, Michelle advises aspiring women entrepreneurs to never let go of their dreams. “Believe in yourself and put passion into whatever endeavour you plan. Find something different and go ahead with it. Efficiency is the need of the hour in today’s harsh business world. Respect and value your customers time and money if you want to be successful,” she asserts confidently


Use your network/ecosystem to validate your idea. The eco-system may vary and the network reach may vary depending on whether you are a startup, mature business or a family enterprise. Whoever you are, and whatever it is, leverage it

How to validate your business idea The Columnist writes about the importance of validating business ideas in order to understand the customer mindset that will help you strengthen your business plan

Nandini Vaidyanathan The columnist is the founder of CARMa which mentors startups, mature businesses and family enterprises. She teaches Entrepreneurship in several Ivy League biz schools across the world. Nandini is also author of the best-selling Entrepedia, a step by step guide to becoming an entrepreneur in India.

Most entrepreneurs presume that downloading from Wikipedia is equal to market research. Most decidedly not! There are no shortcuts here. You have to undertake it the good oldfashioned way. Get off your butt, go to the market place, talk to your prospective customer, and establish whether he is willing to put his hands in his pocket, take out his wallet out and pay you for the product that you are offering


n my last column, we talked about choosing that “one shark of an idea” out of the many by putting it through the

FSP (Feasibility, Scalability, Profitability) Test. The beauty about the FSP test is that it is a very commonsensical secondary data based scanning of the market dynamics in which your idea would operate. There is no need for any detailed market research at this stage but I have mostly found what I wanted by trawling the net for relevant blogs. Technorati, Blogpulse, nirandfar, forstartups, are some of my favourites. Even chat rooms are excellent treasure troves of information. For instance, join one which explores the best midsized sedan in India. I promise you it will blow your mind. I came out of one such chat room wondering why there were no car manufacturers present in the chat room and whether they even knew as much as their customers knew about their cars! The next step is validating your idea that has passed the FSP test. Most entrepreneurs presume that downloading from Wikipedia is equal to market research. Most decidedly not! There are no shortcuts here. You have to undertake it the good oldfashioned way. Get off your butt, go to the market place, talk to your prospective customer, and establish whether he is willing to put his hands in his pocket, take out his wallet out and pay you for the product that you are offering. I have heard from many entrepreneurs that they don’t validate their idea because market research is expensive. No one expects a startup to commission an A.C. Nielsen to do market research by paying mega bucks. You can do it by leveraging your own network. At best, it might cost you a few pitchers of beer at your local pub! Don’t forget that we are both producers and consumers. Let’s say my idea is to launch a free car app which will list all the car dealers – city-wise,

their discounts and freebies, price-on-the-road, user rating of cars and dealers, feature richness and comparison, etc that would facilitate an informed “car-purchase decision” for my customer. I want to know whether my prospective customers will download this app, use it, and find it useful. I also want to know what are all the features that I should include in this app that will facilitate a compelling customer experience. How would I go about it? The first thing I would do is to create a small questionnaire on Survey Monkey (free) and mail it to the relevant people in my network. This would consist of colleagues in my present company, my relatives, business associates, drinking buddies, biker group, trekking friends, as well as ex-colleagues. I will choose them based on one criterion only and that is whether they are either first time car owners or frequent car model changers. Basically, people who have cars on their mind. The questionnaire will consist of a simple, self-explanatory multiple choice questions, a maximum of 10 in number. It would go online on Survey Monkey and I will send the mail with a brief explanation of why I’m doing the survey, a request to click on the link, answer and submit them online. Let’s say I send the mail to

about 100 people in my network and let’s say about 50 of them give it a serious thought and respond. The responses give me an insight into some of their expectations and that gives me a kind of a prototype to work on. Let’s say I want to make sure my sample is not contaminated in that they are people who all know me and therefore may have said things they think I want to hear. I therefore want to introduce an element of objectivity. I will then handpick 25 of them from a cross-section and request each one to send it to 10 people in their network whom I don’t know. Let’s say, overall 20% respond. I now have a fairly balanced 100 responses from both the groups to work with. I can widen my databases when I need, by leveraging the secondary and tertiary connections that I have. I can even use FB and LinkedIn to validate my idea. I can do this in an engaging manner either by arousing their curiosity (teasers), by challenging them (quizzes) and/or by rewarding them (two movie tickets). My point is this – use your network/ ecosystem to validate your idea. The eco-system may vary and the network reach may also vary depending on whether you are a startup, mature business or a family enterprise. Whoever you are, and whatever it is, leverage your network. Validate your business idea APRIL 2014

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Today, every Director has to have a DIN (Director Identification No). If you are a defaulter in any way, your DIN is blocked and you cannot transact. The fines and jail terms are much stiffer under the new Act

The Company that you keep The Columnist writes about the legal and procedural complexities of owning a Private Limited Company

Blaise Costabir The Columnist a first generation entrepreneur whose company rotomoulds custom moulded technical parts

T An entrepreneur would be well advised to get the services of a Company Secretary from day one. The law allows smaller companies to self manage. What actually happens is that when you have to get certified by a CS, your paper work is nonexistent or in a total mess

Suggested reading: The Companies Act 2013 44 Business Goa

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hose familiar with the latest fast food addition in Margao, would perhaps mistake “ROC” for “Royal Only Chicken”. A nice place to go to, but keeping the thrust of my column in mind, ‘ROC’ here refers to “Registrar Of Companies.” This ROC is more relevant today with the enactment of the Companies Act, 2013. Way back, when we first started our Company, we opted for a “Pvt. Ltd” form of Company for two reasons. The first was to ensure that at a later stage, the name would not change. The second reason was to allow for capital formation. The first reason is important because one can start a Partnership with just about any name. Subsequently, if one goes to register the firm with the ROC, the first thing you would need to do is to get that name approved. At this time, if you find the name you were using is not available, it can be quite a loss. In the early days, I started two Companies. Today, I would think twice. I would rather set up a Division under the first, rather than incorporate a new one. While we went fast forward running one Company, the other fell on the back burner. We had table space and a registered office in Panaji. Then the owner closed

it. One morning, we received a Court Notice. We had not filed our Returns. Now, believe me, you do not want to be going to Court for not filing returns! It is a criminal matter and personal presence is required in Court. At that time the fine was Rs.500/-. But my other shareholder, who was abroad, had a warrant issued against him for not being present. Today, the rules do permit late filing and one does not have to go to Court though the fines have increased and some offences are coupled with imprisonment of the Directors. So, pay close attention to the Annual Returns. Actually, an entrepreneur would be well advised to get the services of a Company Secretary from day one. The Law allows smaller companies to self manage. What actually happens is that when you have to get certified by a Company Secretary, your paper work is either non-existent or in a total mess. At our company, because of my previous experience, we had the Minutes Book, Statutory Registers, etc. And with the early run-in with ROC, filing Returns was always a priority. The other issue which we had a hard time with, was closing our Company. Initially, we tried amalgamation. This too, proved

to be too costly. So we filed ‘Nil Returns” as it was a cheaper option. Basically, amalgamation is a Court procedure and therefore, it is time consuming. The most expensive part often turns out to be the lawyers’ fees, which both the Companies have to pay. We were fortunate, as the ROC announced an easy exit scheme. Under this, we were able to close shop rather easily. Nowadays, the same Provisions are applicable, so winding up is easier. If you intend to close, liquidate your assets; ensure that all employees’ dues especially statutory ones like P.F., etc. are settled. Buy back your shares and ensure that there are no creditors on the Books. Today, unlike then, every Director has to have a DIN (Director Identification Number). If you happen to be a defaulter in any way, your DIN is blocked and you cannot transact. Surely not a good situation. The fines and jail terms are much stiffer under the new Act. Most of us only hear about the CSR mandate that the Act has now made mandatory for certain types of Companies. It would be wise to get your Companies Act (pun intended) together and pay attention to the ROC’s requirements sooner than later. As it is said, better safe than sorry!


American universities enrolled the highest number of foreign students last year bringing in around 820,000 undergraduate and graduate students. A large number of them come from China, India, and South Korea. Most Chinese and Korean students come to study business or management, while Indians appear to be keen on science, technology, and engineering

The April Blues

The Writer examines the education scenario in the United States

Jay Dehejia The Writer used to be a senior corporate executive, now a social entrepreneur. He spends most of his time between Goa and New York


t is that time of the year again. I am not speaking about the frantic rush to find all the receipts and fill out the US Internal Revenue Service’s Tax form. That deadline is April 15th, and many adults around the country will be burning the ‘midnight oil’ to complete the complicated forms and then rushing to the main Post Office to make sure that their tax returns have been properly stamped ‘Mailed on April 15’. Many post offices stay open all night to ensure that taxpayers get their papers in on time. I refer rather to young adults and their parents waiting at their home mailboxes for the mailperson to deliver their mail. A big envelope means that the high school senior has been accepted at a university, while a thin envelope indicates that the graduating senior has been rejected. As young men and women enter their final year at high school, both the parents and the students go into a high level of stress. Students have to take the Student Aptitude Test (SAT) exams as most universities insist on seeing their scores. The concept of SAT was started in the early 1920s at many universities

so that students in their freshmen year could decide on the course load that they may want to take. Many years later, this has changed into a requirement to apply to a college. In addition to this exam, many students take ‘Advanced Placement’ (AP) exams in three subjects to convince college admissions office that they are better than their colleagues applying to the same campus. And that is not all! Graduating students have to profess to be ‘well rounded’ and have other interests too. They often go to faraway places in foreign countries to volunteer their services. Above everything else, the young student has to prove that he or she is a ‘team player’ by participating in some team sport or musical performance. Being a keen golfer or tennis, both solo games, player does not display the necessary team spirit that universities are supposedly looking for in their in-coming applicants. The whole stressful year intensifies when the student has to write an essay on what it is that makes them especially suitable for a particular university. That is when parents are completely stressed out and hire guidance counsellors to help their ‘bright and gifted’ kid get into a college that they themselves could not get into when they were applying to many years earlier. The real shock comes when they see the price tag of $40,000 or more per year to send their child to school. Another lot of forms are then taken out and filled up with ‘stories’ to convince the college to offer a scholarship or financing for the young person to attend the college of his or her choice. Over three million Americans graduate from high school every year. Of those about sixty percent go on to study at two or fouryear colleges and universities. The enrollment rate for Asians is the highest at over 88%, greater than Hispanics at 70%, whites at

66%, and blacks at 58%. Asian parents, regardless of their economic status, value university qualification as essential in order to improve their children’s longterm status in society. However the road to acceptance to one of the ‘better’ Ivy League universities for Indian and Asian students is not easy. Ron Unz of The American Conservative, a monthly magazine wrote an opinion column in The New York Times on December 3, 2013: “The last 20 years have brought a huge rise in the number of Asians winning top academic awards in our high schools or being named National Merit Scholarship finalists. It seems quite suspicious that none of the trends have been reflected in their increased enrollment at Harvard and other top Ivy League universities.” It has been reported that enrollment of Asian Americans has fallen from twenty percent in 1993 to sixteen percent in the last couple of years. In the early twentieth century, there appeared to be a high rate of rejection of Jews applying to certain universities (there was a similar unwritten bias in New York housing and many elite clubs), it appears that universities have continued to maintain a quota system for Asians. As a friend at a university mentioned to me “If we were to take in the brightest students we would have an unacceptably large proportion of Chinese and Indians on our campus. We need to maintain the diversity.” Is there some discrimination in college recruitment when it comes to international students? American universities enrolled the highest number of foreign students last year bringing in around 820,000 undergraduate and graduate students. A large number of them come from China, India, and South Korea. Most Chinese and Korean students come to study business or management, while Indians

appear to be keen on science, technology, and engineering. There are now 40% more foreign students studying in the United States than ten years ago. There appear to be two major reasons for this shift. American universities are woefully short of endowment funds and government grants, and as such they are seeking additional revenue from students paying full fees. International students generally have their parents or their governments pay these high fees. These students from abroad add approximately $24 billion to the US economy! The second reason is that there are fewer places for students from India and China in their own countries. With half of India’s population under the age of 25, highly selective universities in the country are overwhelmed and are unable to accommodate them. As an example, IITs in India take in only 2% of the students that apply to them. These bright students (and their parents) have to opt for their second choice and apply to and get admission to US universities. Nida Najar writing in The New York Times of October 13, 2011 quoted Kapil Sibal, the then minister of education of India who said: “The problem is clear. You don’t have enough quality institutions, and there are enough quality young people who want to go only to quality institutions.” American universities are very happy to accept these students who are not only bright but also pay full fees. High school graduating students in the United States apply to an average of six universities hoping to get at least one acceptance package in the mail. For Indian students, these American universities have become their ‘safety schools’! Americans breath a collective sigh of relief after April 15 when tax returns have been filed and after a big fat envelope from a university arrives in their home mailbox APRIL 2014

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Once in a month CDAC gathers employees and they interact with the Executive Director on various themes. Typically they are asked to to express themselves on Post It notes

HR “Enrichment” @ CDAC The Columnist discusses the importance of engaging in newer Human Resource practices to building stronger teams

Kishore Shah The Writer is a organisational development and talent analytics consultant. He is also the founder sponsor of Goa CSR awards

At CDAC, the HR Enrichment Team set to create their own road. They realized that it is time to rejuvenate, refresh and vitaminize people, purely from a human angle and not an HR angle


hen most HR Managers meet, their topics of discussion would invariably revolve around topics related to PMS (Performance Management System), R&R (Reward & Recognition). The HR fraternity is also quick to change labels without actually making changes in the content. Earlier, we had T&D (Training & Development) and now everyone refers to it as L&D (Learning & Development)! Everything else remains the same except the title. Today, it is a world big on jargon! For last few years, mass mindset has been optimized. People put to use every minute of the time they spend in the organization. In fact it is not palatable to hear HR terming its employees as ‘CTC’ (Cost to Company). Definitely very 46 Business Goa

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‘consumerist’ inspite of the fact that organizations are also places of human communities which help all of us in giving meaning to our lives as well! As very aptly depicted in the song ‘Apna kam Banta, ****me jaye janta’ (from the movie ‘Jai Ho’), we all tend to be ‘short term’ focused. Even in our social space, at one end we have Activists who hug roads to overemphasize proximity to the downtrodden. Then on the other side, there are leaders who hypnotize us with their lofty cutouts, face masks and jingles of a great future. After a while all these high decibels only aggravate our intellectual acidity. Everyone is trying to either use us, abuse us, take us for a ride, and/or capitalize on our problems, traumas and practically nobody delivers anything except lofty promises. During a recent trip to Pune, I met Sunil Misar, an old friend and casually asked him about his new assignment. To this he replied, “I am currently the Jt. Director HR–Enrichment’!” I was stunned and laughed, thinking ‘Wow, this seems to be some new jargon in HRD!” But no, how wrong I was! This is what Sunil shared with me. “A few years back, I was called by the Director and Seniors, and given the option of moving out of HR Operations. The Management thought that the meeting would take a long time and I would need convincing. To their surprise I said “Yes” within a fraction of a minute. “I want to and I am ready.” The meeting then moved on to the matter of what would I want to do and how would I achieve this. The proposal was to work on Employee Engagement Interventions, training being the core among many others, along with Strategic HR through DSS and HRMIS. Having got that sorted out, the last discussion at the meeting shifted to what this

would take and what would I expect. All I requested for was just one colleague with experience in the HR domain, direct reporting to the Executive Director and a flexible budget. Happily, this too was granted and out I walked in less than five minutes, getting my wishes fulfilled! That was the birth of the Team called “Human Resources Enrichment”!” Since then, Sunil’s team has worked on some interesting interventions. The theme, was “Recognition to the Employee” and the motto was “Celebrations @ HR Enriches.” Let me share few things which would serve as interesting anecdotes and could perhaps further add value to our efforts in touching lives of co-workers and employees. The CDAC HR Enrichment Team resonated my thoughts about the fact that there is a growing ’cognitive’ overindulgence of jargons and surgical approach in the Organizations. There seems to be feelings of ‘Burnout’, ‘Extraction’, ’Working on people’ ‘Handling people’, etc. There is no time, value or process for the emotive aspects. At CDAC, the HR Enrichment Team set out to create their own road. They realized that it was time to rejuvenate, refresh and vitaminize people, purely from a human angle and not from

an HR angle, because every time any “Intervention Plan” came from HR, it needed to be screened and approved by the “Top Management” and the first question asked by them would generally be “Is it required?” This would be followed by a “Kitna deti hai?” (The popular tagline in Maruti advertisements). Even after hearing all the features, the prospect blows out the excitement by questioning the mileage i.e. what is the ROI? The CDAC HR Enrichment Team also had to go through these ‘agni pariksha’ moments and here are some actions that the CDAC HR Enrichment Team triggered for the ‘Enrichment of people.’ 1) 30 Day 30 App. Development - A team of five software developers were to develop full blown applications in thirty days flat and we get thirty such teams to give thirty excellent applications over a period of thirty days. 2) Innovative Implementable Idea – This covered several thematic areas such as Product development, technology development, cost saving, process improvement, etc. The employees had to write up to ten pages of a full implementation plan of an idea that is novel, innovative, has impact and could be implemented

and paste them on the board. A pattern on the subject emerges from this and serves as an ‘action point’ for the management. For others it is an opportunity to express

3) Know your Peers Intervention on building bonds, getting to know each other, sharing professional perspectives and working collaboratively together. The beauty of these ideas is that they are very unique. Even for the shortest period, the employees are not made to feel that it is a transaction system. Yet the concept of HR Enrichment Ideas at CDAC is still in an infant stage. Soon they should move from ideas and events to processes. Keeping the events intact they should surface unseen, unheard, unshared human process for which they will have to reach deeper levels of emotional engagement. Only then the enrichment will be holistic and soul steering. If we step back and reflect on the life that we are leading today, one can conclude that the several simultaneous impacts coming from Technological innovations

have spiced up the speed factor in whatever we do. Be it transport, communication, diagnostic, lifestyle related, eating habits, “fast foods’, ”fast track careers” and even advertisements which show how quickly one can make, break and gain new friends using a cellular service and social networking sites! At the core we all need peace in pace. From nuclear families we are moving to sub-atomic families. Single parent or single parenting [as the other parent is either too busy or travelling) is further weakening the existing fragile support system. Demands at all levels are ever increasing, be it at schools or offices. Unknowingly, we are inculcating a value system which says ‘Home is place where you should complete all the work either left at school or given by school and this habit is reinforced for 12 years! And when we enter corporates, we simply do the same. Thereby destroying

whatever little time we get to connect with our family! This also makes us cynical as we seem to have lost our natural appetite for appreciation and all we are building is a culture of “Task Orientation.” The CDAC HR Enrichment Team shares an interesting anecdote. “The first intervention was to design a coffee mug with our motto and send it to home of the employee filled with chocolates and a greeting card from the Executive Director. We chose only those employees who were designated with some posts. These were about 100 in a work force of 600. Despite the cynicism, we implemented it. Whenever that mug was delivered in the office, we received only complaints. But whenever it went home, we received a “Thank You! Wow!” Later, we crafted a special C-DAC chocolate and give it to every employee. Once in a

month we gather employees and they interact with the Executive Director on various themes. Typically, we ask them to express themselves on “Post It” notes and paste them on the board. If a pattern on the subject emerges, then that is the action point for us. For others, it is an opportunity to express themselves. This has been very well received. Last month the ‘People Tree” Column was on ‘Burnout’. Little did I know or think about this article. It was an accident to stumble upon the CDAC HR Enrichment Team. The time is right for enriching our lives. If a Government institution, which by definition implies “Bureaucracy” [which also means it is devoid of emotions], can take the lead and experiment, that to with success, then it is time to revisit our assumptions and start to begin enriching thoughts and feelings. The rest will be a story! We wish CDAC success in their HR enrichment endeavours

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Internationalisation differs from exports of products. In exports, a lead can generate the transaction of goods. However, selling continuously can be a problem. Further, exportats does not imply much risk – and hence rewards

Internationalisation Opportunities The Writer talks about the tie up of his firm with Mundiservicos and the growing global opportunities for Goan businesses

Ashutosh Kharangate The writer is a Managing Partner at Mangal Advisory Services


e, Mangal Advisory Services (MAS) recently entered into a tie up with a global Consulting major, Mundiservicos. Mundiservicos is a company headquartered in Portugal having offices in Africa and South America. The company in existence since 1988 commenced internationalization about 15 years back. Through this process of internationalization they provided well informed markets to companies from Europe seeking to go global. The goal of our tie up was also to allow in bound and out bound tie ups of Indian Companies with Companies in Europe, America and Africa. In the experience that we have gained over the past 3 years, we realise that there are several Goan Companies who have an absolutely fantastic product 48 Business Goa

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which perhaps has a limited local market or is ahead of its time. There are also other Companies who commence exports in the name of internationalization, but are not very clear about their long term strategy. Still further, there are several others who invest money into foreign markets without enough knowledge about the markets or a diligence on the venture partner. Even further, there are companies who are struggling to move ahead on account of limited technology and knowhow available at their disposal. The result is, of course, slow degeneration, stagnated business or major financial losses. The purpose of our partnership is to handhold Goan Companies into successfully moving into international markets. There could be three scenarios. In the first case, the entrepreneur is aware of his product line that he would like to take to the international market. In such as case, MAS and Mundiservicos, would assist him to move to the correct market, taking into consideration the economic, social and political scenario of that place. This would enable a long term business vision rather than a windfall gain or loss only for a couple of years. As a second step, Mundiservicos and MAS would provide advice on the best strategy to do business i.e. whether to have only exports, have a JV or even a physical setup at such a place, based on an extensive financial model developed on a case to case basis. If a JV or physical setup is advised, Mundiservicos, due to knowledge of players in each sector, would then profess advice on the most appropriate partner depending on not only the financial parameters but also taking into account the cultural patterns. In the second scenario, of any diversification envisioned by the Entrepreneur, Mundiservicos would advise on the attractive sectors prevailing

at that point in time which have a sustainable market and the rest of the process follows. There could also be an instance of a technology and knowhow transfer into India, to expand into India and other markets. That, of course, brings us to the question of how big these markets are and what are the kind of opportunities existing. But prior to that, let us understand what we imply from internationalization. By internationalization, we imply a long term strategy concerning a new market. It implies strategic planning and answering questions such as: • Where am I today? • Where do I want to go from here? • How will I get there? Internationalisation differs from plain export of products. In exports, a lead can generate the transaction. However, selling continuously can be a problem. Further, exports do not imply much risk. In this article we would focus on a direct approach for Indian Companies who desire to expand business into Europe, Africa, South America or other markets using Portugal as a gateway. Europe is in search of new markets and opportunities. Several business opportunities with Europe and particularly with the Southern countries like Spain and Portugal are yet to be explored. There are several entrepreneurs in these regions who have innovative products but are struggling due to lack of markets in their regions and high cost of manufacture. They are desirous of joining hands with Indian entrepreneurs. Below is a glimpse of the potential market: Portuguese Market : 10.6 Iberia Market : 51 European Market : 494

African Portuguese Speaking Countries (LUSOPHONE) 220 MERCOSUL Countries SADC African markets - The CPLP is an international organization formed by Portuguese speaking countries who seek to deepen mutual friendship and cooperation. The CPLP represents 250 million people. Countries like Angola and Mozambique are growing very fast and are in great need of goods, technology and services due to the lack of players in these regions. The Mercosul Community in Latin America – 275 million inhabitants representing 70% of the total of the South American population belongs to this community. They contribute 83% of GDP of the total of South America. Countries like Chile, Uruguay, Paraguay and Venezuela are developing, stable and open for new businesses. While there are innumerable

market opportunities in each of the regions, one must have a long term strategy prior to entering the markets. • Analyze markets and opportunities in Europe, Africa and South American countries in relation to your existing or dream product. • Define international strategy and business model. • Implement locally in the new market (through partnership with local players after obtaining complete knowledge about them) • Have international – Technically, financially complementary partners for business investments in India to expand markets in India or other places

what’s up goa

The Tara Trust Art Auction held

The Tara Trust Art Auction 2014, was held recently at the Goa Marriott Resort & Spa. The show was inaugurated by Governor of Goa, Bharat Vir Wanchoo, and conducted by one of India’s foremost auctioneers, Angira Arya from Mumbai. Curated by Subodh Kerkar and Dr.Katharina Poggendorf Kakar this has been rated at one of the largest art auctions ever in held in Goa. The funds raised from the auction are to be split with the artists on 50% share and the rest of the 50% shall be used by Tara Trust, to conduct free weekly art workshops at Government and charity schools, orphanages and

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homes, schools of special children in Goa and other parts of India who come from marginalized, underprivileged and low income group backgrounds. The works that got sold at the auction were by Chaitali Morajakar, Kedar Dhondu, Mohan Naik, Vitesh Naik, Suhas Shilker, Ramdas Gadekar, Vijay Bhandare, Shilpa Nasnolkar, Praveen Naik, Seby Akara, Katharina Kakar and Andrew Logan. The Auction also featured works by Balu Sadalge from Belgaum, Amit Lodh from Mumbai, Kanika Shah from Baroda, Kuruchi Dasgupta from Nepal, Rahul Chauhan and Seema Kohli from New Delhi. From the great masters, the auction sold four works of M F Husain, two works of Francis Newton Souza, one each of Krishnaji Howlaji Ara, Ram Kumar, Sailoz Mookherjea, Nandalal Bose and Jamini Roy

Diet Clinic powered by Harpreet Pasricha interacts with MES students The Vasco team of Diet Clinic Powered by Harpreet Pasricha imparted to the 3rd year BBA students of MES College, the value of health and fitness in relation to the goodness of eating right. The 3rd year BBA students have been offered elective courses in health, fitness, dealing with stress, impact of famous people, all very valuable elements to gen next who are on their way into the corporate world. The course has been designed by Lalitha Joshi who took the initiative to include real life and practical knowledge to the students and gave them an extra boost in their development and readiness to walk out into real life. The Diet Clinic team designed a special tailored programme based on the requirements of the college. An interactive quiz started the morning off, setting everyone in the mood to learn

more. A couple of contests were carried out that involved a very good active participation from all the students. While the day was designed to be fun, the information that the students took away with them truly reflected in the final outcome – the food preparation module conducted a few days later. Based on the benefits of numerous ingredients used to highlight the benefits of healthy eating and health management the students had to prepare a dish each as a group activity. As experts in the field Diet Clinic was glad to see that the younger generation is tuned into the benefits of maintaining good health, eating wholesome and good food. Innovative creations like ‘Citrus Salad’ and Oat Honey pancakes loaded with dry fruits and nuts were amongst the few dishes that scored the best in the food preparation module

Cashew Trail 2014 is back

The much awaited Cashew Trail returns! This year, Park Hyatt Goa traces the life journey of Goa’s most beloved fruit, the cashew, through twelve days of festivities from 26th March to 6th April. They have created a whole new dimension to Cashew Trail 2014, from a Cashew Ritual introduced at their award-winning Sereno Spa, to an interesting Cashew Feni Cocktail Master Class, and a dinner where each course is artfully paired with a private collection of Feni, Cashew Trail 2014 offers an imaginative selection of events that is an ode to the Goan way of living.

Through these twelve days guests can also enjoy innovative Feni cocktails - a Goan twist to all-time favourites at their lounge bar and a sinful menu of creative cashew based desserts. The festivities will culminate with an exclusive Feni Master Tasting evening followed by their annual afternoon celebration the Cashew Trail, where besides the food and cocktails being the highlight, to add on to the fun element a cook-off competition will be held, where men get to show off their culinary skills. Madame Rosa Distillery will also launch their Treasure Island, a one year old premium Cashew Feni. The event will also witness an auction by Madame Rosa Distillery, the proceeds of which will go to COOJ (Cause of Our Joy), an organisation that works towards promoting mental wellbeing

Goa Tourism Development Corporation set to organize Goa International Travel Mart 2014

The Goa International Travel Mart (GITM) will be held from April 2 to 4, at Dr. Shyama Prasad Mukerjee Stadium at Taleigao. This prestigious B2B event promises to bring together travel companies, hoteliers, State Tourism Boards and other leisure enterprises under one roof to showcase the tourism investment potential in the state.This year’s GITM expects that over 125 international buyers from across the world will fly down to take part in the event. The event is also highly regarded on the domestic front with over 150 buyers confirming their participation. GITM is also well supported by renowned associations in the industry like TTAG, TAAI, TAFI, ADTOI, ATTOI, & IATO. GITM will also reach out to State Tourism Board, District Tourism Centres, Trade Associations/

National Travel Organizations, Airlines, Travel Agents and Tour Operators, Hotels and Resorts, Adventure Tour Operators, Spice Plantations, Casinos etc. Apart from showcasing the tourism investment opportunities and potential in Goa, this event will also serve as a platform to promote various facets of Goa that reflect the multi-dimensional facets of the state. A special Goa Pavilion will be created to showcase festivals and nightlife, beaches, heritage trails, UNESCO Heritage sites, Wild life, Medical tourism, Monsoon tourism, MICE, Wedding Destination, Spice Farms and Adventure. Elements like promotion and conservation of heritage, arts, crafts, endorsement of hinterland tourism, exhibiting the state’s rich culture and heritage will also be incorporated APRIL 2014

Business Goa 51


Dropping people in the deep end can prove highly motivational, as it sends a clear signal that the company believes in them and trusts them to take risky decisions

Drop People in the Deep End Help team members prove to themselves that they are capable of much more

The worst team leaders allow their people to paddle in shallow water every day. It is pleasant for a while, but ultimately it becomes boring

I The Business Step Create some deep-end experiences for those members of your team who really have potential to excel in their career. For example, send them into the lion’s cage to feed the top cats with some juicy information and proposals. The Business Point The depth of a person’s mind is a function of their willingness to take on deepend experiences.

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t is difficult to swim in shallow water. Furthermore, it is impossible to learn to swim by reading a textbook or attending classroom lectures. Learning to swim is all about pushing back the boundaries of your experience, being submerged, getting your head wet. It is also about eliminating some fairly deep-rooted fears and proving to yourself that most things are possible. The limits on achievement are mostly the limits that we artificially construct in our minds in order to protect ourselves. The worst team leaders allow their people to paddle in shallow water every day. It is pleasant for a while, but ultimately it becomes boring. Meanwhile the competition has learnt to swim in the deep sea and has reached the other side of the bay. Many people are happy to paddle through life and achieve little other than a degree of comfort – and such comfort can lead to complacency.

The best team leaders are aware that dropping team members in the deep end from time to time means that they are more likely to survive than if they remain protected in the shallow end. They will have a deeper experience of a wider range of issues and will be more adept to cope with the pressures of intensifying competition. The deep-end experience provides many more valuable lessons than the shallow end. Inevitably there is a high degree of risk in this deep-end experience. To learn effectively people must take risks and gain from pushing back boundaries. When risk is minimized the experience and learning are minimal, and consequently motivation erodes as people become entrenched in their attitudes and set in their ways. In contrast, dropping people in the deep end can prove highly motivational, as it sends a clear signal that the company believes

in them and trusts them to take risky decisions. That’s the funda. Here are some examples of deep-end experiences into which team leaders can drop their people. A team member can be: Invited to present to the board (When normally the team leader does so). Asked to represent a Director in important negotiations with a customer. Assigned the responsibility of organizing a major event (for example the company’s ten year anniversary celebrations). Asked to deputize for the boss who has been sent on a threemonth assignment overseas. Given a six-figure budget and responsibility for a project to bring a new product to the market. Asked to head up an important new company change initiative. Plucked out of nowhere and asked to be the Chief Executive’s personal assistant for three months. Sent to take charge of the closure of a non-productive factory. Given two days notice to pack and go overseas and hold the fort when a country manager is suddenly taken ill. Effectively it means pushing as many people as possible to their limits – so that they can exceed them and become much more effective as a result. Dropping people in the deep end is exciting and exhilarating and many people relish it. It can be like taking the highest bungee jump in the world. However, it is not for everyone and no matter how much a team leader passionately believes in giving people these phenomenal opportunities, there are always some who hold back, who will not take the risk and prefer to continue with the safety of the mundane. These people probably do not realize that in the long term they are putting themselves at risk, as with fewer skills and less experience they become less marketable than those who have been exposed to and taken advantage of the deep end Subscribe to Goa’s only

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THE black sheep bistro

Globally inspired cuisine, created locally MONALIZA DIAS enjoys a fine dining experience at The Black Sheep Bistro Peanut, chilli and garlic crusted fillet of Chonak

Squid - Prawns Plancha

Patio at the Black Sheep Bistro. Sabreen and Prahlad Sukhtankar (inset)


he Black Sheep Bistro, just as the name suggests is an off-beat and visually appealing restaurant in the heart of the city of Panjim, guaranteeing you a fine wine and dine experience with your family, friends or even a romantic date with your spouse. With cuisine inspired globally but created locally being the theme of the bistro. The theme very well exudes through the traces of cuisine of different continents made available with a blend of local ingredients. The minute you enter, you are welcomed by the warm chatter at the bar area, and the lounge space with the oh so divine wine decorating the room, while the family area right in the middle of the bistro has a very cozy ambience, perfect for a night out with your dear ones. There is also the outdoor area beautifully lit and arranged. If you’re planning on a date, this

is the place to go. Hosts Prahlad and Sabreen Sukhtankar owners of The Black Sheep Bistro take the word ‘hospitality’ to a new level, perhaps bringing their international hospitality experience to the Goan space, and make you feel ‘at home’ almost instantaneously. “We serve authentic cuisine from nowhere. We say this because our menu does not offer your regular cuisine as we just don’t follow the patterned rules,” they say. Indeed, it’s noticeable. Every dish is carefully planned and uniquely created with international standards but served with a dash of ‘local tadka’. They take us on a contemporary journey starting with handcrafted cocktails, Sangria – a blend of red wine, cinnamon, apple, citrus and sparkling water. Not only does it look delicious but tastes just as good. Also the cinnamon whiskey sour, a perfect combination of whiskey, homemade cinnamon sugar and homemade sour mix creates a stir of different flavours exploding in your mouth. Along Tataki

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with our drinks we were served a mouth watering Masahari, a mix of Quail eggs and kismoore butter. The combination felt celestial to our taste buds; each ingredient of the dish complimented the other perfectly. The next stop was one of our best local flavours, the ever famous Choris Pao. But this was not your regular Choris Pao; with shavings of dark chocolate, caramelized onions and homemade poi, you are guaranteed an undeniable mix of sweet and spicy flavours, a little bit of Goa and a little bit of nowhere like the Sukhtankars suggest. Soon after we were served Squid-Prawns Plancha and Crispy prawns – dishes so delicious, you would be left licking up every last morsel of food on the plate. We were also taken through their Japanese cuisine with the dish Tataki, made with local ingredients; a medium rare Frigate mackerel made in the traditional Tataki manner, garnished with citrus gingersoy vinaigrette gives you the unexpected. A refreshing change from our usual rawa fried fish. Just being done with the starters, we were presented with the sea food risotto, which was nothing short of perfection!

With Arborio rice, mushroom, garlic and white wine, the dish transported us to Italy. After a very Italian delight, our very own Goan Chonak made its debut with all its zesty flavours laid down on a plate. The peanut sauce and orange beurre blanc perfectly blended with the fish making each bite an amazing gastronomic experience. Down to the last and best part of our journey at The Black Sheep Bistro were the desserts. It’s true every girl loves her chocolate! Hence the first thing I was served was the Chocolate Lava Cake with a dash of strawberry coulis. You’re reminded again of why you love chocolate so much with just a bite! To add to our indulgence, we were served yet another piece of pleasure, the strawberry delight. Fresh strawberries topped with cinnamon vanilla cream and anglaise s a u c e creating a smooth blend. With this we came to an end with nothing but a happy appetite. Every dish at the Black Sheep Bistro will surprise you and make you desire for more. Not too many places in the city can offer you such a wide variety of a handcrafted menu Strawberry delight


Kishore and Aumkar Shah release books; host award ceremony

Dr. Hemangini Shah

In a unique event where both – a father and son inspired each other to author books, Kishore Shah and his son Aumkar recently released their books titled ‘364 days of Transformation’ and ‘The Magical Newspaper and other stories’ respectively. Ideaz Unlimited, founded by Kishore, in association with Broadway Publishing House, also hosted the ‘364 Days of Transformation’ Awards. The Awards were installed to honour those Goans who are quietly contributing to the society. The winners of this prestigious awards were Harshvardhan Bhatkuly, Editor, Business Goa; Edwin Pinto, of Janota Shoes and Venkatesh Prabhudessai of Mushtifund Aryan Junior College

From left: Ramakant Kamat, Dr Sunil Rai, Kishore Shah, Nana Bandekar, Nandini Sahai, Atul Pai Kane and Aumkar Shah

Aumkar and Kishore Shah

Leena Mehendele

Nana Bandekar

Elvis Gomes

Ramakant Kamat

Khalil Ahmed

Venkatesh Prabhudessai

Fr. Romualdo D’Sousa

Hasuben Maganlal

Nandini Sahai

Piyush Panchal


Prof. Dayanand Rao

Amrut Gaitonde

Edwin Pinto

VERY celebrates Women’s Day As a continuing annual ritual, VERY commemorated the International Women’s Day by felicitating Dr. Sabina Martins. ‘Dia de Womens’ is an annual event by VERY, that is held to celebrate being a woman. Every year, a lady of substance, from any field, is honoured for her unparalleled contribution to society. Dr Sabina Martins, a PhD in Chemistry, LLB and BEd, is the founder member of ‘Bailancho Saad’ which is a non-funded, non-hierarchical, women’s collective. She is also the founder member and present convenor of ‘Goa Bachao Abhiyan’ and has been an active member of the Progressive Students Union

Pallavi Dempo

Lara Godinho

Vinni Timblo

Khushi and Nilesh Dawda Urvija Bhatkuly

Rakhi Salgaocar

Miriam Koshy

Dr. Sabina Martins

Neelam Khaunte

Tejashree Colvalcar

Deviya Rane

Annalisa Mascarenhas

Aparna Khaunte

Sheetal Palan

Preeti Mahatme

Farzana Khan

Soraiya Makhija

Sonia Suctancar

Dawn Mortimer

Namrata Wagle

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CII’s Annual Day; Kirit Maganlal is the new Chairman Kirit Maganlal, Director and CEO, Magsons Network Pvt Ltd was elected Chairman of CII Goa State Council for the year 2014-15. Parag Joshi, Managing Partner of Jutex was elected the Vice Chairman on the Annual day of CII Goa Council held at Panaji. The event was attended by the who’s who of business in Goa including past Chairman Shrinivas Dempo, GSIA President Shekhar Sardessai, and Academician turned mentor Nandini Vaidyanathan. Kishore Sabnis spoke from his heart on taking Goa’s tourism pitch forward. Dr. Joaquim Goes shared his views as an international academician on the way forward for Goan students. Mittu Chandilya of Air Asia and Chetan Tamboli also spoke to the packed audience. As it turned out, the day was outgoing Chairman, Atul Pai Kane’s bithday and there was a surprise celebration thrown for him by the incoming team Gaurapriya Pai Kane, Mittu Chandilya and Atul Pai Kane

Shrinivas Dempo

Kirit Maganlal

Ralph de Sousa

Keshav (Babu) Kamat

Shekhar Sardessai

Dr. Sunil Rai

Parag Joshi

Dr. Joaquim Goes

Chetan Tamboli

Dr. Sangam Kurade

Cmde N Venugopal

Prajay Maganlal

Kaushlendra Sinha

Shakil Manerkar

Kishore Sabnis

Martin Ghosh

Andrea Maganlal

K G Gupta

Atul Jadhav

Vijay Hede

Natarajan Sriram

Sheetal Pai Kane

Hemant Arondekar

Caroline de Sousa

Sharon Ghosh

Raghuvir Vernekar

Rajesh Salgaonker

Harish Melvani

Satish Murthy

Dr Pradeep Padwal

Mishal Maganlal

Atul Naik

Arun Naik

Sunil Pai Kane

Prakash Jalan

Haroon Ebrahim

Sanjay Bhandari

Anil Kher

Manoj Patil

Ghanashyam Halkar

K D Row

Dr Narayan Varde

APRIL 2014

Business Goa 57


Shrinivas Dempo wins Outstanding Entrepreneurship Award

Ramnath Kare named Chairman Emeritus of Vidya Vikas Mandal

Third generation entrepreneur and Chairman of the Goa based House of Dempo, Shrinivas Dempo, has been awarded the Outstanding Entrepreneurship Award 2014 India in an Asia-wide survey of enterprise owners. He has been recognised for his leadership of well-known widely held company listed on the BSE and the NSE, Goa Carbon Ltd, India’s second-largest petroleum coke calciner (Turnover Rs. 30205 Lakhs Fiscal 2012-13), which operates from plants in Central and Eastern India and Goa. The increasingly prestigious annual Asia Pacific entrepreneurship awards are part of the Asia Pacific Entrepreneurship Programme (APEA), chosen by Enterprise Asia, a growing non-governmental organisation promoting enterprise development and responsible business across Asia, Australia and the Pacific

Serving as President of Vidya Vikas Mandal for the past thirty three years, Ramnath Kare recently retired from the prestigious position. He was honoured with the title of ‘Chairman Emeritus’ of Vidya Vikas Mandal for his meritorious contribution at the hands of Goa Governor H E Bharat Vir Wanchoo. Kare has played a huge role in shaping the colleges under Vidya Vikas Mandal such as Damodar College, Kare College of Law, Vidya Vikas Academy and others. Vidya Vikas Mandal today has around five thousand five hundred students and four hundred and fifty teaching and non-teaching staff. Kare, an industrialist, has also served as the President of the Goa Chamber of Commerce and Industry. Senior Chartered Accountant, Ganesh Daivadnya is the new President of Vidya Vikas Mandal, while Nitin Kunkolienkar has been appointed as Vice President

Francisco Braganca re-elected President of TTAG Francisco de Braganca, Director of Double Tree by Hilton, Arpora, was elected unopposed as the President of Travel and Tourism Association of Goa (TTAG) for the term 2014-2016 at a special general body meeting held recently at Panaji in the presence of returning officer Nikhil Desai, Director of Tourism. Also, Nilesh Shah of Purushottam Bhagwan and Associates, Panaji, and Savio Messias of Hotel Bismarck of Vasco de Gama, were elected unopposed as the VicePresidents of TTAG. Braganca reiterated his deep dedication to the Association for the betterment and promotion of tourism in Goa. He said that he considered it a privilege to be the president of TTAG for the second term of two years and thanked the members for reposing their faith in him

Rahul Deshpande’s work wins ‘Best Infrastructure’ Award Rahul Deshpande was recently awarded the ‘Best Infrastructure’ Award of NDTV. An all India architectural competition conducted by the popular news channel NDTV received around nine hundred entries. With regards to the award Rahul says, “NDTV took notice of the projects that I have worked on in the past two years which includes the Valpoi bus stand and the EDC complex, which were the reasons that I was considered for the Award.” He further adds, “It feels amazing to have won an all India competition with a lot of renowned competitors in the fray. It is very humbling to be rubbing shoulders with high profile persons in the field of Architecture.” Rahul Deshpande has been a recipient of many national awards and also the prestigious Aga Khan Award


Anuja Prabhudessai sworn in as Judge of Bombay High Court North Goa Principal and District and Sessions Judge Anuja Prabhudessai was elevated as a Judge of the Bombay High Court. Prabhudessai is the first Goan woman to be elevated to the High Court. She was recently felicitated by her alma mater Kare College of Law. Justice Prabhudessai said “the judiciary as an institution is supreme and it represents the last hope for many and this faith reposed by the public has made the judiciary supreme”. She also pledged to do her best to keep up to the high standards of the Bombay High Court. Hailing from Avede-Kotambi in Quepem Taluka of South Goa, Prabhudessai was appointed as the Judicial Magistrate First Class in 1992. She was elevated as the Principal Judge in 2003. Justice (Retd.) G D Kamat was the Chief Guest at the felicitation programme for Justice Prabhudesai who is an alumna of Vidya Vikas Mandal’s Govind Ramnath Kare College of Law. The College organized the programme at their premises in Margao. Prabhudessai stressed the need to maintain values of fair play and equity and reaching out to weaker sections of society while imparting justice 58 Business Goa

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1. Gujarat Pipavav Port established in 1992 in tie-up with Port of Singapore Authority hold what unique distinction in India? 2. Who presented the first Union Budget for independent India? 3. Daiichi Sankyo, a Japanese firm, bought which Indian company? 4. Who succeeded Bill Gates as Microsoft Chairman? 5.. Which is the largest oil company in the world? 6. Which brand has been endorsed by Sachin Tendulkar, Kapil Dev, M S Dhoni and Virender Sehwag? 7. Identify Answers to BG Quiz 57 1.Hitachi 2.Pernod Ricard 3.ICICI 4.Whatsapp 5.Cannes 6.Walt Disney

Email your entries to First all correct entry will get 1 year’s subscription to Business Goa

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April 2014 issue of Business Goa. Read about Ashank Desai and Mastek. Goa's Budget for 2014. A special focus on the various schemes from DIT...

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