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Goa’s Only Business Magazine


MARCH 2014

Fashionable Few 16

Fashion retail is a growing sector in Goa. Meet some of the players in the business of apparels

Andrea Dias

Salome Fernandes Philu Martins

Sparsha Deshpande Monty Sally

Cherylyne Estibeiro Manisha Salkar

Goa Budget focus


Raya Shankhwalker

professional dossier


Manisha Naik lady power


News Views Articles Interviews Profiles Focus Analysis Opinions Events Features


March 2014

36 Goan Brand 40 Event of the Month 43 Professional Dossier 44 Lady Power 54 Bon Appétit Café Central has been serving tasty snacks in Panaji since 1932


The World of Odour: Sensory Analysis and Consumer Perception


12 State Budget

Raya Shankhwalker has built an architectural firm that specialises in contemporary design

Goa’s industry expects Chief Minister Manohar Parrikar to work the magic wand and bring the economy out of the doldrums


Cover Story

Manisha Naik spells out her plans as the Chairperson of GCCI Women’s Wing

Trend conscious people are being served by a new brigade in the fashion business. A profile of the movers and shakers

Spice Studio at Alila Diwa Goa takes you on a culinary journey across the country with every bite

22 Focus Goa 24 Starting Young 26 Enterprise

The auto business needs a shot in the arm to revive enthusiasm


Mayur Dhond is creating culinary delights at his restaurant, Edward’s Yard

Dinesh Sinari, owner of Parijat Traders, one of the most reputed dealers in tyres, talks about his entrepreneurial journey


28 Interview

V. Krishnamurthy of ACGL, speaks about the game changing works that his company has been doing over the last twenty five years





Acoustic Components Pvt. Ltd. has been providing complete genset solutions to some of the biggest players in the industry


38 44

06 Editorial 08 Corpo Scan 42 Campus 42 Book Shelf 42 BG Crossword 50 Interior Design 52 What’s Up Goa 56 Goa Buzz 58 Newsmakers 58 BG Quiz 04 Business Goa

MARCH 2014

Business is all about ideating, says Nandini Vaidyanathan in a sequel to her last month’s column

Blaise Costabir analyzes the logic behind ceaseless price hikes and their repercussions on MSMEs


shrinivas dempo awarded by enterprise asia for exemplary entrepreneurship

45 Antarprerna 46 Reluctant Entrepreneur 47 Letter from America 48 People Tree

48 Cover Pic: aliston dias

Jay Dehejia writes about Indian Diaspora and its contribution to USA

Kishore Shah discusses the issue of organizational stress and suggests measures to counter it



Goa’s Only Business Magazine


MARCH 2014


Fashionable Few 16

Fashion retail is a growing sector in Goa. Meet some of the players in the business of apparels

Salome Fernandes

Andrea Dias

Philu Martins

Sparsha Deshpande Monty Sally

Cherylyne Estibeiro Manisha Salkar

Goa Budget FOCUS


Raya Shankhwalker



Manisha Naik LADY POWER


News Views Articles Interviews Profiles Focus Analysis Opinions Events Features

VOL 5 | ISSUE 9 | MARCH 2014

Editor & Publisher Harshvardhan Bhatkuly Co-Publisher & Group Head Urvija Bhatkuly Advisory Board Datta Damodar Naik Ralph de Sousa Rajiv D’Silva Swapnil Kamat Team Alisha Patel Annalise Gouveia Ashok Kolvekar Govit Morajkar Mayur Santinezkar Monaliza Dias Pritesh Naik Sigmund D’Souza Contributors in this Issue Veeraj Mahatme Nandini Vaidyanathan Jay Dehejia Blaise Costabir Kishore Shah Ajay Sardesai Editorial, Advertising & Administrative Office Business Goa 101/5, Rua Thomas Ribeiro Fontainhas- Mala Panaji, 403001 Goa India Tel.: 0832-2425514, 6456555 Email: 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.

Cab mentality One of the main problems of modern day India is the mismatch of people’s expectations from the powers that be and the dichotomy that such a situation creates with the rule of law and constitutionalism. The curse of my generation and the ones following ours is the utter lack of sensing beneath the surface. We seem to take words as gospel without examining their worth. And such an attitude can create a smokescreen around reality – add to it the power of every half brain worth’s expression on social media. And what we have is confusion confounded. This narrative would sound funny in another situation – but not when the fallouts of it are dangerous to a supposedly forward thinking state like ours. I take strong exception to the way things have panned out regarding the taxi issue in Goa. I do not hold the brief for Ola Cabs, but when everyone and sundry know for a fact that the taxi owners in Goa do not subscribe to prescribed norms of transparency, why is it that the state should cave in to their demands? In a constitutional democracy as ours, it is the right of every citizen to practice any profession, or to carry on any occupation, trade or business. However, under Article 19 (6) of the Constitution, the State can impose reasonable restrictions in the interest of general public. Now my question is whether by disallowing Ola Cabs to function from Goa, we have crossed the legally permissible ground? In my humble opinion, we have. Firstly, allowing the private firm to engage in the business would not tantamount to creation of a monopolistic nature of its trade. Two, there is no public interest that could be at peril should the taxi operator be allowed to set shop in Goa. On the contrary one hears from some who have availed their services elsewhere in the country that it is inexpensive, reliable and transparent – besides convenient. Thirdly, the state hasn’t ‘nationalised’ or taken over the taxi business from the other operators. Then why such protectionism to what is apparently a musclemen driven trade?

06 Business Goa

MARCH 2014

Is the argument that several thousand youth have procured loans from banks and other financial institutions stand the test of logic or of legality? What peeves me is not this one government action or inaction as one would see it. The problem is that in a democracy like ours, precedence is a powerful tool for future negotiations and sadly we have set a bad one in this instance. Time and again, the lobbies of such trades have held the state to ransom. And we must break this trend. My other observation is about dragging the Chief Minister to address every issue – small or big. We know for a fact that the man in overworked and is trying to maintain fiscal equilibrium in a trying economic state. So when I hear that some taxi owner feeling nudged because the Chief Minister can’t attend to him, it rings alarm bells in my head. Public contact and all is fine – but how much? Will Goa’s top constitutional functionary step in to mediate every small issue – and yes, this to me is a small issue. And it should have been handled at the level of the Transport Director. The RTO should create a separate wing and sensitize and streamline the taxi business in a set period of time. The Department should strive to bring in accountability, transparency and put systems in order. In fact, people will thank the government if such systems are put in place. And nobody is stopping taxi unions to come together and compete with the likes of Ola Cabs in the state – not just on price, but on service and customerfriendliness, as well. In the broader scheme of things, we have to move on from being a restrictive economy to being a more competitive and merit driven one. My business runs that way. I earn only if I create value. Is it wrong on my part to feel that other businesses should also function similarly?! The taxi unions may have squeezed out a victory in this case – but clearly this is not a long term solution to the problem and challenges that they are staring at

Griha Aadhar, DSS data will be used for identifying Food Act

corpo scan

The Department of Civil Supplies and Consumer Affairs has claimed that socio-economic caste survey report is not of significance as the committee of Civil Supplies and Consumer Affairs will identify them using data of beneficiaries under Griha Aadhar, and Dayanand Social Security Scheme (DSS). A source from the department revealed, “The deadline for implementing the food legislation is July 1, 2014, it will be difficult to hand over the report to the government within the given timeframe.”

CII Goa initiates the first Faculty Development Program (FDP) CII along with the Government of Goa launched their Program to train the faculty of ITIs in Employability Skills syllabus. The objective of this Programme is to provide soft skills training to the final year students, improving their employability and orienting them to the organizational requirements from the very start and thus making them ‘Industry Ready.’ The course curriculum was designed with inputs from experienced Industry members

Kirit Maganlal, B T Boke, Atul Pai Kane and Aleixo da Costa

and representatives from the industry volunteered as faculties in the conduction of the course. Speaking at the inaugural session of the ‘Two Days Faculty Development Program” held at ITI Panaji, Aleixo Da Costa,

Director, State Directorate of Craftsmen Training, Government of Goa shared his experience on his recent visit to Panasonic Vocational Institute, Japan. He emphasized on the need of soft skills apart from the technical skills for employability. He said that we should try to channelize all our energies in making the youth employable. B T Boke, Convener CII, Labour HR, IR and Skills Development Panel and SeniorGeneral Manager, Dempo Ship

Goa’s GDP growth stunted due to mining ban The closure of mining activity since September 2012 and its fall-out on other sectors has brought down the growth rate of Gross State Domestic Product (GSDP) at constant (2004-05) prices to 8.47% in 2012-13 as compared to a higher growth of 22.10% in 2011-12. As per the economic survey 2013-14, the growth rate of GSDP at constant prices in 200909 and 2009-10 was almost static at around 10%, but had risen significantly to 16.89% in 201011 and still higher to 22.10% in 2011-12. But the economic survey has played down the decrease in growth, pointing out that the mining sector had shown a negative growth rate of (-) 68.33% in 2012-13, as compared to a growth rate of around 25% in 2009-10. As per the quick estimates of

GSDP for 2012-13, the primary sector, which includes mining activity, registered a growth rate of (-) 37.81% with Rs 1386 crore due to ban on this activity. It was the tertiary sector which contributed significantly (Rs 19,310 crores) to the GSDP with a growth registered at 17.06%. But this was also a decrease from the growth of (Rs 16,496 crore) 39.64% in 2011-12. The sector wise growth of GSDP indicates a slow down in all three major sectors in recent years. “The primary sector which registered an upward growth rate from 4.59% in 2008-09 to 13.52% in 2009-10, went down

sharply to register a negative growth rates of 3.43% in 2010-11 and 37.81% in 2012-13 (Q),” the survey states. The secondary sector had growth at 5.70% in 2008-09 and 12.75% in 2010-11, but had a growth rate of only around 4 % in the subsequent two years. The sector wise composition of GSDP at constant (2004-05) prices show that tertiary sector accounted for 64.80 percent of the GSDP followed by secondary sector with 30.55 percent and primary sector with 4.65 percent. In terms of institutional finance, Goa with a 674-strong banking network registered a growth rate of 11.45% in terms of deposits, which stood at Rs 44,203 crore as on June 30,2013. But the growth rate of advances showed a decline with a growth rate of 4.24%, as its level stood at Rs 13,019 crores in June 2013

Sand mining resumption likely to be delayed Even though Supreme Court has stayed all National Green Tribunal’s proceedings on illegal sand mining across the country, in Goa this sector will take some time to re-start as State Government has decided to refloat the tender for conducting Rapid Environment Impact Assessment (REIA) study to assess the impact of sand extraction and related aspects. An official from Goa State Pollution Control Board said 08 Business Goa

MARCH 2014

that despite several agencies accredited to MoEF, there has been poor response to the tendering process. The REIAS is a GIS survey through satellite imageries and studies eco sensitive zones, fish migratory and breeding grounds along river stretches where proposed

sand mining is to be undertaken. It is mandated by the State Environment Impact Assessment Authority (SEIAA) before it gives environment clearance for sand mining permits. Official said that it would take about 90 days for REIA to be completed after it is tendered. REIA study would be then placed before the State Expert Appraisal Committee (SEEC), which in turn would put it up before SEIAA for granting environment clearances

Building and Engineering Pvt. Ltd mentioned about the initiatives undertaken by CII nationally for the skill development. He also informed that the two days training program would cover the “Employability Skills Syllabus”, wherein they will touch on the following modules English Language and Communication Skills, Occupational Safety and Health (OSH), HIV /AIDS, Quality Tools and Entrepreneurship The training was attended by twenty five trainers from ITIs of the state

`300 Cr worth tourism projects in next 3 Years The Government has earmarked tourism projects worth Rs 300 Cr for the next three years with the focus being on developing utilities and infrastructure. He also said that the Government will soon take a decision to invite private investors or take up on its own tourism projects on BOT basis. ‘Buy local tourism products’ will be the focus and several hospitality programmes will be launched including a 25 years Goa Tourism Horizon Master Plan for sustainable development. A financial consultant has been appointed to work on the feasibility of the mega tourism projects, the official source said. For every Rs 10 lakh invested on tourism, it generated 78 plus jobs and for every Rs 5 spent on infrastructure the state benefits on tourism assets. Buying local tourism products such as dolphin and alligator sightseeing, visiting islands, day and evening cruises, locales promoting such tourism products will be given a fillip as it has a huge impact on the local economy. The Tourism Minister Dilip Parulekar said “Goa has witnessed a rise of 9.27 per cent in foreign tourists arrivals that is 3.30 lakhs more than the previous season. Participants to GITM have started bookings, and we are expecting over 1,500 visitors daily. The tourism mart will host forums with hotel and travel trade,” he added

PWD snubbed. GSIDC to carry developmental works

corpo scan

The State Government prefers the Goa State Infrastructure Development Corporation over the Public Works Department. Many developmental works have been taken away after all the formalities for executing them have been completed by the PWD and given to GSIDC. One of the reasons cited was to “ensure” timely execution of works but the works were being executed by the GSIDC at costs which were higher than estimated by the PWD as per the manual.

5.36 lakh tonnes of ore e-auction gets in Rs. 93.81 Cr The Goa Government has e-auctioned the first lot of 5,36,000 (5.36 Lakh) MT of iron ore on 17th Feb 2014. The Government has said that the e-auction was on a trial basis and has been successfully tested. From ten participating bidders, eight have won the bids for iron ore. A section of the bidders had raised concerns about uniformity of quality of ore stacks and jetty charges. The Government has assured uniformity of quality to all the bidders. Out of sixty one stacks, only the ore lying at Mormugao Port Trust (MPT)

was not auctioned. Those who took part in the auction included Fomento, Sesa Sterlite, Chowgule, PTI and Durga Mines from the state while bidders from outside the state included Bagadiya Bros. and Royal Line among others. Domestic steel mills JSW, Jindal Ispat, Mohit Steel, Bharti Steel and some other bidders shied away from the e-auction. The Supreme Court had granted permission for sale of ore through e-auction of about eleven million tonnes stacked iron ore in Goa, under the supervision of

monitoring committee appointed by Supreme Court. The e-auction was conducted by MSTC on behalf of Goa Directorate of Mines and Geology. The sixmember expert committee which will work out an annual cap for extraction of iron ore has submitted an interim report to the Supreme Court. The ban on mining of iron ore in Goa will continue, as the Supreme Court has extended the time by a month for the submission of the final report by the expert panel for suggesting annual cap on extraction of iron ore

Transerve Technologies Pvt. Ltd. launches its new product SmartMu Amarsh Chaturvedi with Damu Naik and Prashant Shinde

Transerve Technologies Pvt. Ltd., a leading geospatial company based in Verna, has officially launched its new product, SmartMu, at the MSME XPO held at Margao. The product was launched in the distinguished presence of Velayudhan, Director MSME-DI, Govt. of India and Prashant Shinde, President, Verna Industrial Estate

Association. The solution has been designed to transform old municipalities into Smart Cities through three easy steps: a mobile application, a web-based GIS dynamic solution and a business analytics integrator. “Municipalities and Urban Local Bodies (ULBs) in India, particularly the small and mid-size ones, face substantial cash crunch situations every year. In order to be ready for the challenges in urban infrastructure improvement, it is essential that the ULBs have sound financial health.” Amarsh Chaturvedi, Director and Co-founder of Transerve Technologies, said. “Property tax and trade tax, along with

signage tax, construction licenses & food licenses form key elements of revenue collection for the ULBs. However an efficient system to track and locate defaulters for these taxes was missing. Our product is aimed at solving this problem by helping these municipalities improve their revenue collection. Indeed, thanks to Transerve’s intervention through SmartMu, the municipalities can now increase their revenues by almost 35-40%” Through an end-to-end approach, Transerve offers GIS solutions and services in several domains – from the field survey and mapping to GIS consulting – and for a diversified client base in the public and private sector, nationally and from overseas

Goa Dairy launches ice cream Goa Dairy recently launched its brand of ice cream in various flavours like vanilla, strawberry, mango, butterscotch, pista, chocolate etc. Goa Dairy offers fresh, pure and reasonably priced ice creams. Present at the launch was Ponda MLA, Lavu Mamledar, Chairman of the Goa State Co-operative Milk Producers Union, Vithoba Dessai, Managing Director Dr. N.C Sawant, former Chairman, Shrikant Naik among others. Speaking at the occasion, Minister for Co-operation, 10 Business Goa

MARCH 2014

Deepak Dhavlikar who launched the ice cream, stated that Goa Dairy should become self sufficient in milk production by having its own cattle farm. He further added that if national milk brands tried to procure milk from the local farmers, then Goa Dairy will have a tough time in

competing in the market. He also emphasized on the importance of a good marketing strategy for better sale of the ice cream and advocated the need for good quality, taste and reasonable rates. “Goa Dairy will have to maintain the quality of ice cream and also offer competitive pricing so that no other brand can compete with them. If this is done, nothing can stop it from becoming popular” he added. Dr. N.C.Sawant, while speaking on the launch said that initially, Goa Dairy will produce

VFS Global opens first Germany Visa Application Centre

Monaz Billimoria, Alexander Thielitz and Dean Menezes

The Consulate General of the Federal Republic of Germany in Mumbai extended their collection of visa applications and delivery process to Goa through a Germany Visa Application Centre set up by VFS Global. The centre in Goa at Gera Imperium, Patto, was inaugurated by Alexander Thielitz, Consul and Head of the Consular Section of the Consulate General of the Federal Republic of Germany in Mumbai, Dean Menezes, Honorary Consul of the Federal Republic of Germany in Goa and Monaz Billimoria, Zonal Manager - Western India, VFS Global. VFS Global will be responsible for accepting applications at Germany Visa Application Centre. All applications will continue to be assessed by the Consulate General of the Federal Republic of Germany in Mumbai. The key features of the centre are longer operating hours, dedicated website for easy access, visa information including visa types, applicable fees and application status, professional and responsive staff with local language capability one thousand litres of ice cream a day. “Goa Dairy’s ice cream will be pure and fresh. With more and more customers demanding us to venture into ice cream production, we decided to go ahead with it,” he stated. According to him so far, the Dairy has appointed six stockists, and distributors, who will help to make available the ice cream in the retail market. Vithoba Desai said that people trust Goa Dairy and hence it will be easy for them to reach out to the people

state budget

Many more units are negotiating with GAIL for availing Natural Gas. While Zuari Industries is using Natural Gas as feedstock for its Fertiliser Plant, all other units are using it as cleaner, cheaper, environment friendly

what does the industry want from this budget? Goa’s industry organisations have submitted a long-list for Chief Minister Manohar Parrikar to consider before he stands to present the Annual State Budget this month. What reliefs would Parrikar provide the industry? VEERAJ MAHATME writes


Focus on regulation Few like the word ‘tax’, but it is a necessary evil for running the society. In a competitive business environment, taxes can make or mar industries. The industry hopes that the Government in its role of regulator will grant them relief on this front. Tax exemption under the Value Added Tax Defermentcum-Net Present Value Compulsory payment Scheme, 2005, ended on 5th December 2013. The industry associations strongly urged the Government to extend it further for two years as this extension will benefit the industry greatly. The Government is petitioned to plug some loopholes to bolster its income and save local businesses. An example is the 12 Business Goa

MARCH 2014

File Pic: rosario estibeiro

he mining ban was imposed in September 2012 and mining operations came to a grinding halt. The mining stakeholders and its dependents were adversely affected. The Government itself lost revenues to the tune of 1500 crores which is approximately 25 % of the state’s revenue. Managing the state finances had become a tough task and the Goan Industry, in its solidarity with the Government did not ask for any tax concessions in the 2013 State Budget. However as the mining ban continues, the adverse effects of its closure are being felt by other industry segments in Goa, as well. The industry looks to the 2014 Budget with hope and expectations and wants the Government to support it in sustaining operations in the depressed market conditions as well as invest in infrastructure to ensure business viability and growth in the long term.

Will he bring goodies to the party this time?

bus body building industry. Presently, most of the bus owners are purchasing only the chassis in Goa and getting the body building work done outside the State so as to avoid payment of VAT on the bus body building work. Although local bus body builders are charging 12.5% VAT, it is noticed that bus body

builders from outside the State are neither charging VAT nor issuing any invoice. Consequently, the State is losing revenue and the Bus Body Builders in the State are losing business. Making it compulsory to produce tax Invoice of bus body building at the time of registering the vehicle in Goa

and charging entry Tax on all bus body building work done outside the State will ensure that our State will collect revenue by way of VAT or Entry Tax for all bus body building work of vehicles to be registered in Goa and the local Bus body building industry will get business. Tax differentials across states are affecting industry. The Government should take steps to create level playing field. One example is the perfumes and industrial fragrances manufactured in Goa. The sales are interstate, many by tiny unregistered units who cannot issue C Forms. Therefore the industry has to pay a VAT of 12.5%. The VAT in Maharashtra is 5% rendering the local industry uncompetitive. Another example is of the entry tax on copper, which is 5%. The Madhya Pradesh Government has reduced entry tax on copper to 0%. Consequently it is unviable to manufacture copper wires in Goa. The industry has suggested that the Government reduce the entry tax on feedstock to these units. GAIL has already started supplying about 150mmscm (metric million standard cubic metres) of Natural Gas to companies like Zuari Industries, Reliance Infrastructure Limited and Umicore Anandeya which are all based at SancoaleVasco area. GAIL is also laying a special 28km pipeline to supply gas to Goa Glass Fibre (Binani) at Colvale. Further, many more units are negotiating with GAIL for availing Natural Gas. While Zuari Industries is using Natural Gas as feedstock for its Fertiliser Plant, all other units are using it as cleaner, cheaper, environment friendly alternative to furnace oil. Charging of Entry Tax at high

alternative to furnace oil. Charging of Entry Tax at high rate of 20% will completely upset the product costing for these companies and will have a huge adverse impact on their viability

rate of 20% will completely upset the product costing for these companies and will have a huge adverse impact on their viability. Entry Tax is generally levied to compensate for use of infrastructure created by the State. In this case, the infrastructure (laying of pipeline) is created by GAIL and the concerned unit. Since Natural Gas is a cleaner, cheaper and environment friendly fuel, the state should encourage more and more units in Goa to use it. The industry request that wherever Natural Gas is used as a fuel, it should be charged low entry tax. VAT assessments and refunds is an area that Govt should streamline further. Exporters and other industries prefer to buy raw materials / components from outside the State against “C” form by paying CST @ 2% instead of buying locally and hoping for refund of input tax credit at 5% or 12.5%. As refunds don’t get reimbursed for years together, this becomes an additional cost burden for the unit and makes their product un-competitive. Some firms have two or more units in Goa and the finished product of one unit is the raw material for the other. Entry Tax on transfer of goods from one local area to another is creating much hardship to these firms who have units in different administrative areas of Goa. There is an appeal made to the Government to exempt such transactions with retrospective effect from 2005. Changes in the business environment and to benefit from larger scale of operation, companies need to merge. Such mergers attract stamp duty. The industry has requested the Government to waive this duty where the shareholding of both companies is the same and if there is no sale to third parties. Infrastructure focus As an enabler, the Government creates the environment for businesses to establish and grow

The Goa Industrial Policy, Independent Tourism Board, RoRo train services and improvement of infrastructure are on top of everyone’s mind in the state and can provide a strong impetus. The Industry has expectations from the Government. To look at all the infrastructure needs of the state in a holistic manner, CII is keen that the Government appoints a high powered task force on infrastructure needs of Goa and a task force on logistics. CII seeks logistics hubs at Dharbandora, Pernem and Verna. It also wants a cargo hub for pharma and perishable cargo at Dabolim airport and multimodal logistics park at Verna/Pernem for movement of containers using Konkan and South Western Railway. These hubs will bring in economies of scale and provide facilities that individual firms find too costly to invest in. Goa sources 80% of its power from other states. Such high dependence is a strategic weakness. It will be prudent to set up of a gas based plant that can run on PPP or IPP models to meet about 50% of Goa’s power needs. The Central Electricity Regulatory Commission (CERC) has issued an order that every Distribution Company, Captive

Generators, and Third Party Power Buyers (buying through Open Access) is obliged to buy 6% of power from Renewable Energy. This will be gradually increased to 10% over the years. The State needs to urgently put in place its policy for encouraging Roof-Tops based and Field-mounted Solar Power Generation Plants, by studying the models successfully adopted in Gujarat, Andhra Pradesh, Karnataka and Tamil Nadu. The State must commission a study to map out mini/micro hydro potential of various irrigation dams in the State and create a separate entity to implement and operate viable mini/micro hydro plants. Industries are staffed by people and they have to commute. An efficient transport system will reduce the stress of travelling and decongest the roads. GCCI feels that the construction of an overhead metro railway connecting Business and Commercial Centres in the State is a welcome solution. “The metro railway line should ideally start at Mapusa and go on to Cortalim via Panjim. Cortalim should be a

junction from where metro lines should connect to Vasco via the Dabolim airport and Margao. In future, the line can be extended to Mopa in the north and Canacona in the south,” reads the GCCI pre-Budget memorandum that has been presented to the Chief Minister. An efficient Metro service between Mapuca to Margao / Vasco will possibly help in keeping a large number of buses and huge number of private cars off the road resulting in lesser number of accidents on these routes besides reducing the increasing traffic congestions on these main roads of Goa. Also, at present, all raw materials that come into Goa from the north and are destined for industries south of Zuari River have to follow a circuitous route via Ponda as heavy traffic is not permitted across the Zuari Bridge. While a new bridge is a

GCCI has absolute faith in Manohar Parrikar’s ability to provide a new direction to the Goan economy. From the pre-Budget discussions that we have had with him, we are confident that in his Budget, he will initiate measures that will spur new investments in Goa narayan bandekar President, Goa Chamber of Commerce & Industry

MARCH 2014

Business Goa 13

state budget

Tax exemption under the Value Added Tax Deferment-cum-Net Present Value Compulsory payment Scheme, 2005, ended on 5th December 2013. The industry associations strongly urged the Government to extend it further for two years as this extension will benefit the industry greatly

long term solution, in the short run a RO-RO service across the river will decrease travel and time costs. GCCI feels that the ccapabilities for creating the necessary infrastructure (ramp and road and ferries to carry heavy traffic) within a short time are available within the State. Goa’s waterways can be further developed. Jetties for sea bound or hinterland bound travel can help tourism. Need is felt for setting up of Goa Maritime Board for planning and implementation of development projects, with representative of all stakeholders to assure an integrated approach to maritime projects. On the agricultural front, CII recommends that the Government support food crops that are used as raw material by food processing industry. For example, the Government can support schemes to grow tomatoes to meet Nestle’s demand for producing ketchup. At present the need is met by sourcing the supply from other states. Farmers sell their produce along the roads. CII feels that small markets can be developed in these areas to facilitate buyer seller interaction. Fostering the growth of new industries is important. GSIA wants the Government to notify and implement the Goa Investment Policy immediately. This will attract investment in the Industrial Sector and boost employment for the youth in Goa. GSIA also wants to promote industrial estates with smaller plot sizes for small enterprises who cannot afford to purchase the large sized plots offered by IDC. This, GSIA feels, will help the growth of small enterprises that can grow bigger with time. Tourism Goa is an international tourist destination. The tourism industry consists of many service

providers, big and small. While the industry has flourished, a need is felt for systematic study of many issues related to the industry. The Travel and Tourism Association of Goa (TTAG) in association with Goa Institute of Management (GIM) wants to set up a research and analysis centre to scientifically study various aspects of tourism and advise both – the Industry and Government. It seeks Government support to meet the HR cost and will match funds under CSR. TTAG has also proposed the setting up of vintage car museum in and around Panjim to showcase about 200 vintage cars in Goa. This will add another tourist attraction to Goa. Taxis provide vital local transportation for tourists. Sometimes they can also be the source of unpleasant experiences for tourists. To overcome these issues, TTAG has recommended that GTDC take the lead in organizing taxis into co-operatives. Those who join the co-operatives have to install CCTV, GPS but will be compensated by lesser vehicle taxes and license fees. The growth of tourist infrastructure along the coast has increased the electrical loads in these areas. This can be solved by developing a 220KV corridor parallel to the coast similar to NH17 highway. TTAG also seeks tax holidays, incentives in the form of additional FAR for hinterland, farm and heritage tourism. The industry feels that its wish list is well justified and expects a positive response from the Government on when the Chief Minister rises to present the State Budget

wish list of industry organisations The 108 year old trade and commerce organisation has a multi-sectoral focus. They are bargaining hard to bring economic reforms by lobbying with the government. Key players: Nana Bandekar (President), Sandip Bhandare (Vice President), Manoj Caculo (Vice President), Anil Counto, Victor Albuquerque, Nitin Kunkolienkar, Ralph de Sousa

Having an investment policy for Goa Grant for the incubation centre Continuation of the exemption scheme Mining people relief to be continued New initiatives in tourism and aviation The Association represents the MSME and industrial interest in Goa. With a large member base of small and medium industrialists, they want reforms in the functioning of IDC and to see the Investment Policy come in force. Key players: Shekhar Sardessai (President), Sangam Kurade, Sudin Naik, Rajesh Khaunte, Sanjeev Trivedi

Speedy notification of Goa Investment Policy Modernization of infrastructure at existing Industrial Estates Setting up of Plug ‘n Play gala type Industrial Estates for MSMEs Provision of Building Space for GSIA to manage industrial facilitation centers (Udyog Adhar) in major Industrial Estates The Confederation of Indian Industry (Goa Council) is the policy making arm of its national parent organization. CII, Goa Council is headed by Atul Pai Kane who is the brains behind the Draft Investment Policy and is known to advise the Chief Minister on policy matters. Key players: Kirit Maganlal, Dean Menezes, Martin Ghosh

Infrastructure: Improving infrastructure, setting up a high powered task force for development of logistics Taxes: Grant extension to the Value Added Tax Deferment-cum-Net Present Value Compulsory payment scheme, 2005 by one more year, Lowering the Sales Tax percentage from 12.5%. It will attract many of the potential customers from outside Goa in giving business to industries within Goa and consequently the state of Goa would benefit. Education: Grants to provide computers to all schools, revise the curricula of ITI, Polytechnic and Engineering courses Tourism: Grant of Rs. 3 Crores towards training of 25,000 stakeholders in Tourism industry through a joint initiative with M/s Leap Foundation The Writer is Faculty of Business Administration, MES College of Arts & Commerce

I would like to see the Goa Investment Policy become a reality in this Budget; so as to make Goa an aspirational investment destination for hi-tech manufacturing and high end services which will create well paid jobs for Goans and also create an ecosystem in which new and existing SMEs can flourish and achieve global competence shekhar sardessai President, Goa State Industries’ Assocation

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Fashionable Few MONALIZA DIAS talks to a few fashion entrepreneurs about the glam-biz in Goa


oday, the media promotes a ‘fashionable you’ and ridicules anything or anyone not dressed under the guidelines of the fashion police. If asked who makes these rules? One can never tell, probably the big shot designers in the fashion world. But the media lives by the current collection of designer clothing. Hence people from all over the world pay keen attention to designer wear. India too, has quickly picked up on this trend. For any prized occasion, designer clothing is what we wear. And in Goa, the need to dress fashionably for any occasion has slowly begun to show. Although there is a lot of ground that needs to be gained from the designer’s end in creating individuality and seeking cross border acceptance and from the customer’s point of view – in being more discerning. That said, people have gradually started opening up to homegrown fashion designers who A Philu Martin creation

have gone ahead and created a niche for themselves in the market. Monty Sally, one of Goa’s young and well known fashion faces says, “Fashion is a combination of art and commerce. This idea appealed to me, I took the plunge and here I am today.” The sheer passion of a person towards fashion is what shines through their works as well. Philu Martins, Proprietor of Philu Martins Couture says that she always loved textures, colors and everything related to clothes. From a young age, she had an urge to help people create a balance in their outfits. This led her to start her own fashion business. While Syne Coutinho, who runs her stores in Panaji and Margao and stocks her designs in Mumbai, Bangalore and other metros was introduced to fashion through her interest in art. “I loved anything that made use of my creativity. I also loved dressing up and helping others dress, too. One thing led to another and I am a couturier today. I never had a formal training in devising outfits,

Every year, I bring out a special summer and festive collection. I even showcase my designs for various fashion shows because this puts my creativity on display for everyone to see Philu Martins 16 Business Goa

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it was just my love for clothes that is clearly seen in my work,” she says. Some others see it as a way to fulfill the dreams of their parents, like Andrea Dias, whose mother used to stitch clothes herself. From a young age watching her work intrigued Andrea. Although she could not take it up as a profession as she was expecting another child at the time, Andrea today feels she is fulfilling her Mother’s dreams as well. While still a few never really knew how much they enjoyed it until they bumped into it like Sparsha Deshpande, Owner of Harini Boutique who stumbled upon fashion as she used to design costumes for dance competitions in where she

The boutique is an old concept. I prefer having a larger apartment area wherein you can space out your designs Monty Sally A model showing off a Monty Sally original

would be a participant. Many people noticed her skill and this led her to set up her own boutique. While fashion as an industry in Goa maybe still in the infancy, its practitioners have adopted their own styles towards making it grow faster and better. Be it by having a boutique to display their garments or showcasing their outfits through fashion shows, whichever way they chose, it has proved successful for them. One of the early starters in the fashion business in Goa, Philu Martins says, “Every year, I bring out a special summer and festive collection. Apart from that, I also take custom orders. I have my studio in Panjim and two boutiques in Taleigao and Candolim. I even showcase my designs for various fashion shows because this puts my creativity on display for everyone to see. It is also a way of branding.” Syne looks at fashion as an evolving phenomenon but keeps her signature style intact, while constantly adjusting and innovating according to the latest trends. Monty Sally says that he has adopted a cottage industry scale of operations because he believes in client servicing more

There is a story behind every stunning outfit. It is difficult to fathom the hard work that has gone into every detail of the outfit. With the lack of proper resources and labour available in Goa, it is a wonder how designers manage to procure materials to create beautiful designs with hardly any help than creating unnecessary hype. However, he does showcase his designs through fashion shows for the audience to get a clearer picture of his creations. “A boutique is an old concept; I prefer having an apartment wherein you can space out your designs,” he says. Acknowledging their growing clientele, couturiers have already begun branching out to cater to them. One such is Cherylyne Estibeiro, Proprietor of Cherylyn Designs who has a showroom in the heart of Margao and due to overwhelming response has recently opened a boutique in Caranzalem. Both these showrooms are backed by well organized modern production facilities with state of the art infrastructure and highly skilled labour, ready to accept new challenges every day. For those who have just established themselves, having their own space to display their collection is a way of recognition. Salome Fernandes, Proprietor of Salome’s Couture feels that ever since she established her brand a year ago, she is constantly growing at a steady pace.” Whereas Sparsha Deshpande who recently launched her label and boutique “Harini Boutique” a few months ago, says she is already receiving a huge response from the public because she has effortlessly promoted it. “I display a new collection every month. Recently I showcased my sari collection for the Mrs. Sakhi Samradni 2014 organised by Lokmat as well as conducted an exhibition in Karnataka,” reveals the youngster. There is a story behind every stunning outfit. It is difficult to fathom the hard work that has gone into every detail of the outfit. With the lack of proper resources and labour available in Goa, it is a wonder how designers manage to procure materials to create beautiful designs with hardly any help. Manisha Salkar of Lisha’s Boutique, who works largely with lycra and chiffons reveals that she gets her raw materials from suppliers in South East Asia because she is guaranteed good quality materials. She further adds that she employs interns

The ‘Little Black Dress’ designed and accessorized by Syne

Syne Coutinho

from the Polytechnic College and three skilled tailors who work along with her to bring her designs to life. India has abundant textile resources; some choose to take advantage of this, Cherylyne sayss, “India is a country rich in textiles. If the materials aren’t available in India, I source them from abroad. I do not believe in sourcing my materials from one particular location, it depends on the availability and quality. I also have specialized help, while hiring them I look into their experience, their methods of working and most importantly their behavior.” Philu, who pays keen attention to every detail of her design, reveals that cotton is sourced from Mumbai, silk from Bangalore, synthetics locally while bridal wear material is purchased from Dubai. She also adds that she hires Karigar tailors for detailed work and finishing. She has also engaged highly skilled tailors from Kolkata, Uttar Pradesh and Delhi. Syne too adds that she sources her materials from Bangalore, Mumbai and a few places abroad, and that she too hires tailors from North India who are trained according to her standards. “I ensure the cut and finish of every design is nothing short of perfection,” she says. There are also those designers who find it hard to get skilled employees yet are able to pull it off brilliantly like Andrea Dias who says that while she sources her materials

from Mumbai or Surat, she does not have any specialized help except her mother, who helps her run the business. “Currently it is just, a tailor, my mother and I who keep the show going. In this industry, every designer faces issues with regards to skilled tailors. They are very few and rarely good. Before hiring any specialized help, I make sure that a person is not carried away with the glamorous aspect of the business. There is a lot of hard work that goes into it. So for me an individual has to be creative, hard working and fast in completing orders” she says. The lack of skilled tailors is a prevalent issue with almost

all designers but a few start ups let it not deter them. Salome Fernandes says, “I get my materials locally and sometimes from Mumbai. Sometimes having to work on the designs myself can be tiresome. But being a trained fashion designer, I can manage to do so. Although I have been trying to employ skilled workers, sadly there are very few to take up these responsibilities.” Despite Goa’s growing reputation as a fashion hub of India, most people perceive them as tailors. We find ourselves wondering what is the difference between a designer and a tailor. After all, they just stitch! Well think again, a tailor just gives you what you ask whereas a designer innovates, pays attention to detail and gives you the best quality. Cherylyne Estibeiro says, “People misunderstand designers as tailors. They expect me to imitate and tailor someone else’s designs which they see over the internet

(Above) A Salome Fernandes creation (Left) Salome wearing her own work

Sometimes having to work on the designs myself can be tiresome. But being a trained fashion designer, I can manage to do so. Although I have been trying to employ skilled workers, sadly there are very few good ones Salome Fernandes MARCH 2014

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or magazine. Sometimes they expect me to create something out of this world, it’s not funny.” Cherylyne is not the only one who faces this predicament. Recently established Sparsha Desphpande agrees saying, “People have a notion of fashion designers as tailors. They do not understand the difference between a fashion designer and a tailor.” There are also those who come with a pre-conceived notions that designer ware is expensive. Manisha Salkar says, “People have a stereotypical image of designer clothing being expensive. But that is not true; there are different designers who price themselves out of the market. Also some clients don’t get the concept of a designer. They come to me suggesting designs worn by celebrities but are unsure of new designs.” Agreeing with her is Salome Fernandes, who says that people believe they overprice their garments. “What they do not realize is the effort and costs that have gone into making that outfit.” Philu Martins is also faced with the same situation as she states that she takes into consideration the client’s budget and does not charge a penny extra. Whereas Monty Sally strongly suggests that Goans should get rid of their pattern book mentality because designers are supposed to create and do not replicate an existing design. With designers facing umpteen number of difficulties from labour to client expectations, it comes as no surprise that fashion practitioners would try and make people aware of the profession through their small efforts towards creating a

Goans are ready to experiment with new styles and designs. Also willing to try out designer clothing as we offer something new every time Sparsha Deshpande

A model dons a vibrant ethnics from Sparsha Deshpande

bigger change in the minds of people. Monty Sally reveals that he did attempt to stock his designs in retail stores. Unfortunately the response was poor due to the difference in pricing between his designs and readymade outfits. “Designer wear does not sell by merely hanging on the mannequin. You require a good salesman who could rightly sell the design. I come up with two collections a year, each collection has eight to ten pieces,” he adds. Philu Martins is already a well known brand name in Goa. Apart from her stores in Goa, she also retails in Hyderabad, Pune, Mumbai, Chandigarh, Bangalore, Kolkata, Surat, Dubai and many more places. While Syne displays her work at her boutiques in Panjim and Margao and she also stocks her designs at Candolim, Morjim, Mumbai and Bangalore. Although new to the field of fashion designing Sparsha Deshpande already has a few tricks up her sleeve. “Every season I display a new collection according to the trend in the market. We also conduct exhibitions and have special

Some people mistake designers for tailors. They expect me to imitate and tailor someone else’s designs which they see over the internet or in a magazine Cherylyne Estibeiro

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offers, discount coupons and gift vouchers available at the boutique itself. I also believe that one has to take the current trends and implement one’s own ideas into them. As in the end, the designs are for the

A Cherylyne Estibeiro design at the Bangalore fashion week

clients and not for yourself,” she says. Also on the same page, Cherylyne says that thorough research goes into seasonal or festive designs. “Ever since I debuted my collection in 2009, I’ve considerably increased my clientele. I’ve also increased our manufacturing facilities. That is why I branched out into producing denims and bridal couture,” she says. Designers like Manisha Salkar and Salome Fernandes focus more on individual customer satisfaction. “I do not bring out new collections for every festive occasion. Instead, I come up with three collections every year. The peak season for me is from November to May,” says Manisha. While Salome adds that she does not launch annual collections because she believes that her client’s needs and likes differ from one another and hence she prefers to put in her attention to each individual design. Despite the Goan designer’s best attempts to be noticed as a creative and individual source, they will continue to be subjected to a stereotypical view, unless the public and the Government give them the recognition they deserve. Monty Sally strongly believes that the Goa Government should promote upcoming Goan designers rather than designers from other states or countries. There is an immense growth in the fashion industry of Goa. Goan designers, he believes, are highly diversified in their designs because of the State’s natural beauty and the influence of both western and Indian culture. “Goan designers are growing to be among the best” he adds. The public so far, have given designers their seal of approval, with more and more people opting for designer wear. Philu states, “Fashion is an extension of one’s intellect and people get this point. People in Goa might have a view of designers as being expensive, but when it comes to festive occasions such as weddings or Christmas, people are willing to splurge.”Andrea too, agrees that Goans are very particular


about dressing up. Every client wants a different garment that no other women in Goa will own. “I strongly believe only a designer can accomplish this by creating rare pieces, and Goans realize this fact,” she asserts. Also agreeing to this is Salome who says, “Goans appreciate designerwear, because it saves them the rigours of finding the right material and pattern for their dresses. Also Goan women dislike other women wearing the same outfit as them. Hence they are guaranteed exclusivity by choosing our work.” Whereas other designers believe Goans are opening up to bolder and better designs. On a positive note, Sparsha says that today Goans are ready to experiment with new styles and designs. Hence willing to try out designer clothing which offers something new every time. Cherylyne feels the same, adding that the response to designer wear has been tremendous. Goans want the best with regards to design, finish and quality. They really don’t compromise as far

as dressing up is concerned. However, there are a few who still believe there is hesitance amongst the locals, as Syne reveals that a majority of her clients are not from Goa and that Goans are still hesitant to opt for designer wear, as they feel that it is expensive. The festive season, however, is an exception and during this time, she is approached by Goans for unique and exclusive outfits. With the Goan public already opening up to the world of fashion, the hurdles that fashion designers have to endure has already reduced. Hence the potential of growth in the fashion industry in Goa is huge. Philu Martins says, “There is a large scope in fashion in this state. Goa has a pool of talent and creativity waiting to be tapped. Of course, there is always criticism and praises, both of which help you grow.” Cherylyne states, “In the field of fashion, the prospects of growth are wide. I would like to have bigger production facilities which would in turn provide employment to the young creative talent and make the fashion industry grow in Goa. This would attract tourist and industrialist from across the world making it an important fashion destination. I myself have grown tremendously from the time I started out.” As a newbie in the fashion industry, Sparsha believes every field has its norms to follow. As she has ventured

An Andrea Dias creation at the Goa Fashion Week

A design by Manisha Salkar

into fashion designing, she has come across criticism which she believes is essential for her growth. Also, the acceptance of a young designer over established designers is quite a task but she has already made up her mind to overcome this. “No growth comes without struggle,” agrees Andrea adding that her clientele has increased over the past few years. Initially, there were struggles, but today, she has a steady list of clients even during the ‘off season’. “Apart from the usual orders that come in during Christmas and the wedding season, I get orders for First Holy Communion dresses, for Indian wear and also for costumes for school concerts,” she says. Goa is fast becoming a more recognized fashion destination with designers sprouting at every end of the State. So what do these designers want to accomplish in the future? Philu says, “Hopefully start supplying my designs to more stores

A tailor, my mother and I – that’s the team! We keep the show going all by ourselves. In this business, every designer faces issues with regards to skilled tailors Andrea Dias 20 Business Goa

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I come up with three collections every year. November to May are very busy months for me Manisha Salkar in India and abroad.” On the same lines Syne says that she is planning on opening more stores if time permits. Cherylyne says that besides stocking her creations in her own stores, she would also like to display them in other stores. “Retailers strive to make consumer lives easier. Retailing my products in other stores would make them available to more people thus increasing the overall growth,” she says. Whereas Sparsha says that she is probably the youngest fashion designer and business woman in Goa. That itself is challenging and rewarding, which she sees as advantageous in the future. Plans are also on her cards to display her collections in different stores as it will reach out to a much bigger and different audience as well as establish an online presence for her boutique. Andrea notices the need of her own space, she says, “I plan on opening a boutique as well as displaying my clothes in other leading boutiques in Goa.” Some of us are content with where are today. So is Salome she says, “I am happy with where I am today. Unless I see the need to expand or try new tactics, I will continue with what I am doing. My clients are happy with my work and I know they will stay loyal to me.” Goa maybe a small state, but it has within its fold some of the most talented and creative designers making a steady mark on the fashion scene



Car Sales running out of gas ALISHA PATEL takes a look at the volatile sentiments in Goa’s Automobile sector


ar sales ran out of gas across the country in 2013 as a slowing economy and poor sentiment, dampened by high interest rates and pinching inflation saw buyers stay away from showrooms despite heavy discounts and attractive freebies. According to data released by the Society of Indian Automobile Manufacturers (SIAM), Domestic passenger car sales declined by 4.52 per cent to 1,32,561 units in December compared with 1,38,835 units sold in the yearago month. While this may be the case across the country, automobile dealers in Goa speak a mixed story with some retailers claim a rise in sales, while others complain of being a part of the nationwide decline. According to figures available with the Department of Transport, Goa, the automobile industry in Goa has been down by seven per cent in the last year. Despite claims from the industry that sales have been on the decline, Pradeep Jhadav of A.M.Nissan proudly states that over the last three months, they have seen a steady rise in the sale of Nissan products, which even prompted them to re launch the Datsun-Go in six variants. 22 Business Goa

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Over at Caculo Ford, Manguesh Dalvi, General Manager, too states that despite the recession, they are doing reasonably well. The Ford Figo, Classic and the newly launched EcoSport being their top sellers. On the contrary, Tejashree Pai of Chowgule Industries Pvt. Ltd. says that over the last year, their sales have been hit by five per cent. While stating that the auto industry crash is not just in Goa, but all over the country, she attributes the fall in Goa to the ban on mining in the State. Darpan from Skoda too echoes Tejashree’s sentiments stating that the market for them has not been steady, but they have managed to sustain with an average of 30 to 32 units sold a month. Commenting on their success story, Pradeep of A.M. Nissan states that as a brand, Nissan is largely concentrated on customer satisfaction and is always looking for new ways to reach out to their customers. Speaking about what keeps them afloat despite times being tough, Manguesh says that over the years, Ford has built a reputation of being a high performance brand. “Customers today are more aware of things like performance of the

vehicle and other specifications. Luckily for us, Ford is both high performing and affordable,” he states. In trying times, our best bet is to reach out to our valuable customers. To do this, many major players have started reaching out to their customers by adopting customer friendly methods of selling their cars. Brands like Nissan have a large slew of promotional offers which are periodically changing to suit the needs of the customer and the season. This, says Pradeep Jadhav, has helped them a lot and they have received a lot of positive feedback as a result of their promotions, which have been converted into sales. Ford too, has concentrated largely on making the customer’s experience of buying a car from them as pleasant as possible with the hopes of a return sale. Taking stock of the recession which has hit sales, the team at Skoda has decided to focus on building their customer base through their existing customers as they feel word of mouth is their best medium of advertising. “Apart from this, we also conduct events as it gets people talking about the brand,” says Darpan. Another side to the coin of

the dwindling automobile sales in the state, are those players which have shut shop in the hope of better prospects. Vishnu Tarcar, a former Tata dealership owner, stated that despite having a good sales record of around 50 units a month, he decided to shut shop, as he felt he could do a lot more within the same space by renting it out as it is a prime location in the city of Panjim. Though they were approached by other automobile brands to host a dealership, he refused on the grounds of dwindling car sales and the risks involved. “Most automobile showrooms are located along the highway as they require a huge amount of space; this was lacking at our showroom which was also another factor which played an important role in our decision to shut down,” he says. Looking ahead, automobile dealers are expressing mixed sentiments about sales in the new financial year. Pradeep is confident of an increase in Nissan’s sales as they will have a wider range of products available. Tejashree, Manguesh and Darpan on the other hand, are skeptical with Tejashree stating that the market is currently in a very volatile state and does not see a change happening in the near future. Lamenting the ban on mining being one of the root causes for the meltdown in the automobile industry in Goa, Darpan says that unless mining resumes, sales will not pick up. Rising petrol and diesel prices too, are making customers shy away from purchasing automobiles. On the same note, Darpan adds that he does not see a major growth in Skoda sales as they have discontinued one of their products. Manguesh too, states that the automobile industry is in a state of turmoil. “Though it is difficult to predict what will happen in this sector, I am confident that Caculo Ford will do well what with new products like Ford Ecosport,” he concludes

Remembering a

Renaissance Man Vasantrao Dempo ( 04 Marc h 1 916 - 0 9 Nove m b er 2 0 0 0 )

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

Management, Officers and Staff of

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




The restaurant is situated at Mayur’s ancestral property, which was looked after by a devoted caretaker, Edward. He treated the place like his own. Every plant and tree was carefully taken care of by him. Hence Mayur decided to name the restaurant Edward’s Yard Edward’s Yard

The yardstick of good food MONALIZA DIAS in conversation with Mayur Dhond about being a young entrepreneur

Mayur Dhond and (inset) interiors of Edward’s Yard


ou are never too young or too old to make your dreams come true. Each dream that we achieve is a pathway for others to achieve theirs. A young man of twenty three is soon to stir the culinary industry in Goa with his new venture Edward’s Yard at Goa Velha. Mayur Dhond, Proprietor of Edward’s Yard reveals that fresh out of college he started the Courtyard in August 2011 at Campal with seven other partners knowing the huge challenge that came along with it such as rent, which was really high. Despite the success, he always knew that he wanted to establish his own restaurant. After a two year spell, Mayur quit the partnership in May 2013 and started Edward’s Yard earlier this year. “I learnt numerous aspects of the industry here including maintaining a clientele relationship at Courtyard, which has helped me in my endeavour,” he says. Sandwiched between lush green fields, with trees towering over you and the gentle breeze caressing you, tucked away from the world, lies Edward’s Yard. A restaurant so meticulously and precisely planned and placed, 24 Business Goa

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it makes you wonder all that went into making it such a beautiful place. Mayur recalls, “The restaurant is situated at our ancestral property which was looked after by our devoted caretaker Edward. He treated the place like his own. Every plant and tree was carefully taken care of by him. Hence I decided it would only be fair to him and his work if I named the restaurant Edward’s Yard. The people coming into the restaurant can put a name to the person responsible for making the place what it is today.” However amazing and novel a business may be, every start up has hurdles. For Mayur it is the location. The location he says is both rewarding and challenging because it is situated in the interiors of the village, making it harder for people to notice it from the narrow lane that leads to the restaurant. But once the customer finds the place they are never disappointed. Another challenge is his age. At the tender age of twenty three, where most people are accepting their master’s degree

or gaining experience at that reputed firm they always wanted to work, Mayur is running his own business. “The toughest challenge for me was being the boss. I am younger than most of the employees here which initially did take time for me to adjust to but then you realize you have to do it because without leadership the business will have no direction,” he reveals. Despite age being against him, it has not deterred Mayur from achieving his goal in mind. “Everyday is a challenge and I choose to fight it and grow to be a better person and businessman,” he asserts. So passionate is he about his work that you would notice him in the kitchen spinning up new dishes for you to savour. “I always loved cooking and creating something new. Recently, I invented two new dishes to be served at the restaurant. One being Bombil Schezwan and the other Cheesy garlic prawns. Both of which are very popular with our customers. I am soon to come up with some more creative dishes,” he adds with a smile. With the oh-so-tempting dishes and a serenely beautiful location, one would wonder how big the burn in your pocket would be after you’re done finishing your last morsel of food on the plate. But there is nothing to worry about. Mayur states. “I have kept the rates of my dishes keeping in mind the spending power of my clients. The restaurant is based in between the south and north of Goa. Hence they would have spent a considerable amount of fuel itself. This is the reason my rates are very basic and affordable.” Not only is it affordable but also family centric. Unlike most restaurants, where

the kitchens are off limits, Mayur has opened up his kitchens to the public as he allows his customers to take a look at where the magic happens. His customers are even free to take a look at their poultry section. In order to give the entire family a chance to dine at Edward’s Yard, Mayur even has cradles and cots for families with infants! No Goan can go without an afternoon siesta. Well at least most of the times. This is true for Mayur who says that he loves to work because what he does for a living is his passion. At the same time he is a Goan who requires his afternoon power nap to steer him back into action. Despite this laid back trait, Mayur has faced whatever challenges came his way head-on. “Initially when the restaurant was being constructed there were labour issues, but I did not let it deter me from establishing the place in three months from the day of construction. I also tirelessly worked towards promoting the restaurant. I put up a Facebook page, hoardings and signs on the highway. But what really worked was word of mouth. The locals have been coming here regularly and love what we have to offer. Hence they have been part of the reason for the vast popularity of the restaurant.” he says proudly. We have often been told the young are prone to make mistakes. But there are a few exceptions that rise above this portrayal of the youth and do something worthwhile. Mayur is one of them. There comes no exception when it comes to shouldering responsibility. Mayur does it perfectly well. On a concluding note, he says, “I am immensely grateful to all my teachers, people and my parents for teaching and correcting me where it was required. They are responsible for the person that I am today”

Dinesh already owns two Parijat Traders stores. He is looking forward to open another store soon. With a close friend’s help, he has also branched out into mining with a company called

ENTERPRISE Dinesh Sinari


Putting a wheel to his will MONALIZA DIAS talks to Dinesh Sinari about his business and services


man can sail through life with his own strength, trudging through all his hurdles alone to eventually reach his destination feeling weary. He also has another option before him, of taking help and support of his near and dear ones, who pick him up when he falls and the almighty one always watching over him. Dinesh Sinari always put his faith in his family deity Shri Dattatreya to help him reach his lifelong dream. Today, he is an accomplished businessman. He says, “I started my business Parijat Traders in partnership with my father Late Dinkar Sinari in 1992. Simultaneously I used to do ancillary works for IFB. This business did not hit off well. And I had to shut it down after a while.” Despite the initial set back, Dinesh today believes that Parijat Traders are the best, being the first tyre store in Goa. He says, “We are dealers for MRF, JK, Bridgestone, Michellin, Goodyear, Nankeng and many more imported brands. Our customers can choose from a wide variety of options before them and we offer best services. In tyres, there are many permutation and combinations where we can offer valuable advice. People also come to

us to seek opinion in making a purchase. An added bonus to our customers is the fact that we have well experienced staff to look after their needs.” He further adds, “After a person purchases tyres we not only fix them but also offer other services such as alignment and balancing – a concept pioneered in Goa by Parijat. We also provide free tyre rotation, air and free Nitrogen gas, the only store in India to do so.” People appreciate it when you mean well for them. Reputation and reliability gets built on this. He says, “We not only have Panjimites as our clients, but people from every nook and corner of Goa have been coming to us for our services. This alone shows our position in the market.” Every business at some point will witness an upsurge and a downturn – that could potentially be a turning point for the business, for good or for worse. Just one decision or situation can change the face of your business. Although the circumstances may not be in our hands to change, we can make the best of the situation that we are in. He says, “Fortunately I did not have to face any major struggles. From the day I started

Parijat Workshop

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Dinesh Sinari

till today, my business has been sailing smoothly. This is because when we came into the market, it was still a Greenfield for us to establish ourselves. We brought in automation in the industry which was new in Goa. As mentioned earlier, we were the first to install automatic tyre changer, alignment and also balancing machine services by a tyre store in Goa. Many other stores had similar features but with new machines and services as our hallmark we grew in leaps and bounds. Recently, however, we are forced to see tough times due to recession and the ban on mining. We had invested heavily into stocks and we had to sit on inventory that hurt our books. However, I did not let that affect us, when mining in Goa was not working out, we focussed on our services.” Parijat Traders have over the years built themselves to be one of the most reliable retailers

of tyres. It is today a reputed brand and an irreplaceable part of the sector. Considering the fact that Parijat Traders is one of the oldest and best traders, it can be understood if people start referring to Dinesh Sinari as Parijat. He says, “It is amusing but at the same time it gives me the satisfaction to know such is the popularity of the store. With all my heart I believe it is due to the customer’s loyalty to us that we have managed to keep Parijat Traders thriving in the market. We provide our customers with the best of services; we give them what is right for their vehicle. Hence our business does not need any ‘marketing tactics’ because it is through word of mouth that we have been able to have customers walking in.” A smart businessman is all that is required to have a business running smoothly through all the odds. So far, Dinesh Sinari has managed to achieve quite a lot;

Sinari Ventures from 2004. His company hires out mining machinery. Last year, he ventured into construction launching a new firm, Sinari Developers

this itself speaks for his business intellect. With the success of Parijat Traders, an expansion is obvious. He says, “We already have two Parijat Traders stores in Panaji. We are looking forward to opening another store soon. With close friend Prasad Keni’s help, I have also branched out into mining with a company called Sinari Ventures since 2004. Our company lets out mining machinery for hire. When mining in Goa faced a slump, we moved to other states. Last year, we ventured into construction with a company called Sinari Developers.” Clients are solely responsible for the profits a company makes. In return what do we do for them? Dinesh says, “We do offer clients good bargains if the manufacturers have any offerings. But we have long term clients who don’t just look at an odd discount here and there. They want reliable service and

From the day I started till today, my business has been sailing smoothly. This is because when we came into the market, it was still a novelty and we brought in automation in the industry which was unseen in Goa. We were the first to install automatic tyre changer, alignment and also balancing machine services by a tyre store in Goa a steady vendor relationship. Considering the fact that we give 100 per cent services to our

clients, I would consider Parijat Traders a success. Around 80 per cent of my clients have been with us for a long time. According to me, the satisfaction of our clients and the positive review that we receive from them is the most important thing for us as a business. It is the fulfilment that I receive – knowing that I am doing something to make my clients happy that drives me to achieve more every day.” Dinesh says, “If I had to sum up the whole experience and journey of Parijat Traders, I would say it has been nothing short of wonderful. It was only due to the success of Parijat Traders that helped me venture into mining equipment and construction business. He concludes, “Whatever I have managed to achieve till date should be credited to my mother Shalini Sinari’s inspiration and blessing from our family deity Shri Dattatreya”

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Call Annalise Gouveia on 2425514, 6456555 or email

MARCH 2014

Business Goa 27


V. Krishnamurthi

With rapid industrialization,there is better awareness towards comfort and safety of passengers V. Krishnamurthi, MD, Automobile Corporation of Goa Limited (ACGL) talks to ALISHA PATEL about the journey of the company, on the occasion of its twenty fifth anniversary Share with our readers a brief history of the Automobile Corporation of Goa Limited Automobile Corporation of Goa Limited (ACGL) was established in 1980 as a joint venture between Economic Development Corporation of Goa and Tata Motors Limited. The company was formed with a vision to facilitate rapid industrialization of the state of Goa, generate employment opportunities to the people resident in Goa, enable setting up of ancillary supplier base and be a change agent to improve the economic status of Goans. ACGL was formed as a public limited company and its shares have been listed and actively traded on Bombay Stock Exchange (BSE). The Rs 10 face value shares are currently trading at Rs 210. The company initially manufactured pressed sheet metal parts and sub-assemblies and supplied the same to Tata Motors. Keeping the company’s growth in mind, the management diversified, in 1988, into bus body building business with a technical collaboration from worldrenowned Fuji Heavy Industries, Japan. The bus bodybuilding unit completed 25 years of its operations recently. ACGL is an ISO-TS-16949 certified company which is the highest level of standard for quality requirements. Further, the Bus Body Division is accredited as `A’ grade

Water Leakage Testing Rig

28 Business Goa

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V. Krishnamurthi

manufacturer by Central Institute of Road Transport (CIRT). The `A’ grade certification indicates excellent capabilities for design and manufacture of bus bodies to meet highest level of quality and safety standards. Out of around fifty four bus body building companies in India, ACGL is the only company which has posted profits in the current year. In fact, ACGL is a consistent profit-making and dividendpaying bus body builder for umpteen numbers of years. For the last three years, we have consistently declared twenty five per cent interim dividends and one hundred and fifty per cent final dividends in the last two years.

What are the types of products manufactured by ACGL? ACGL has two manufacturing divisions, namely sheet metal division and bus body division. In the sheet metal division, the company manufactures sheet metal pressed parts, subassemblies and assemblies for reputed Original Equipment Manufacturers (OEMs) of commercial vehicles, engines etc. The sheet metal division which was operating from Goa was shifted in 2010-11 to Jejuri, near Pune to cater to the requirements of customers from close distance. The division produces oil sumps, brake shoes, bed plates, anchor plate assemblies, axle brakes, door posts, stiffeners, assembly floor, cover gear, push rod chamber cover, various reinforcements, cowl structures and so on at its state-of-the-art plant at Jejuri. Components are supplied to customers such as Tata Motors, Tata Cummins at Jamshedpur, USA and Japan and meet all requirements on cost, quality and delivery parameters. The division has received `A’ grade

certifications from our valued customers for the past several years. The Bus body division established in Goa continues to operate from here. Starting modestly by making just thirty three buses in the first year of its operation in 1988, it has graduated to making close to five thousand buses in the year 2010-11. It has a capacity of building thirty thousand buses per annum. We have built buses on various platforms ranging from LCV, ICV and MCV of reputed chassis manufacturers such as Tata Motors, Ashok Leyland, Eicher, Swaraj Mazda and others. We have been building buses for various applications like intra-city, intercity, employee transportation, sleeper coaches, mobile library, Bus Rapid Transportation System (BRTS), mobile blood bank, mobile training van, ambulances, luxury buses, air-conditioned and non-air conditioned buses for private as well as institutional, state transport corporations, fleet operators and various other domestic and overseas customers. Majority of our buses are exported to SAARC countries, Middle East, Sri Lanka, countries in the African continent etc. Apart from Central Motor Vehicle Rules (CMVR) applicable in India, we also build buses meeting stringent overseas regulations such as SASO, SABS, CMT, NTC, PDO etc. As one of the largest manufacturers in your sector, who are some of your customers? One of our major customers is Tata Motors who export buses made by us to various countries across all continents. Apart from the export business, we also manufacture buses for our domestic

“The journey of twenty five years of bus body building was an exciting one for ACGL. The journey of starting with just a few buses in 1988 with a technical collaboration from a Japanese pioneer in the sector to building over five thousand buses per year has been a remarkable� customers, which include Defence forces, Police, National Security Guards, various Airlines, Hotels, soft drink manufacturers and distributors, fleet operators, employee transport contractors, State Transport undertakings, Kadamba Transport Corporation, Pune Mahanagar Parivahan Mahamandal Limited among others. As a manufacturer, what are some of your biggest challenges? With rapid industrialization all over the country, economic growth, focus on tourism and need for people to travel not only within city but also across cities and states, there is a greater awareness towards comfort and safety of passengers. Realizing this, the Government has come out with stringent requirements for bus body design and manufacturing. Certain Government agencies have been entrusted with the job of rating capabilities of

Plant Production Line

all body builders across the country so that customers can choose the best bodybuilder who gives attention to safety of passengers. Similarly, a Bus Code has been announced by the Government to ensure specific requirements keeping the needs of the passengers in mind. ACGL meets all these requirements. If these are implemented, the scenario in the bus industry would change rapidly and for the better. However, this industry is dominated by road-side bodybuilders in the unorganized sector who are averse to meeting these stringent requirements.

ACGL has plans to grow multifold in the next five years. Our vision is to triple the turnover from around Rs 400 crores to beyond Rs 1200 crores and double the profits from around Rs 40 crores to over Rs 80 crores Bus bodybuilding is a labour intensive business which requires skilled manpower in a flexible manner. Business for buses does not remain at a constant level throughout the year and also year after year due to constraints of economic downturns in countries where our buses are exported as also delays or non-allocation of budgets in the domestic markets in case of STUs, fleet operators, individual customers etc. The business is also affected by the economic slowdown in India such as what we are seeing presently. Getting and retaining skilled and experienced manpower in

such scenarios becomes all the more difficult especially with the employment of migratory workmen. How big is the industry that you cater to and what is your turnover? The country has a potential demand for around seventy five thousand buses per year for the next few years. There are requirements of small, medium and heavy buses both in ordinary and luxury segments. Customers’ expectations have been increasing with knowledge and awareness of luxury buses available at international levels coupled with an affordability of passengers due to improved standard of living. We are among the top five bodybuilders in India; our products are highly appreciated for the comfort and safety that is offered to passengers. In fact, many private individual and institutional customers insist on ACGL-made buses. We made a

MARCH 2014

Business Goa 29

INTERVIEW OF THE MONTH record turnover of close to Rs 400 Crores a couple of years back and an all-time high profit of over Rs 40 crores. It would be worth mentioning that even during the present challenging times when the overall demand is under pressure and the entire bus industry is on the downslide, we have been able to turn out good numbers in our financial statements. For the current year (upto December’13), our turnover has crossed Rs 229 crores with profits crossing Rs 19 crores. Out of around fifty four bus bodybuilders in India, ACGL is the only company posting profits. How do you feel the market for bus bodies has grown over the years? We have seen a significant growth in demand for commercial vehicles in the last decade as a result of which many international players have entered the Indian markets. Some of these business houses are also in the process of setting up their

30 Business Goa

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“Out of around fifty four bus body building companies in India, ACGL is the only company which has posted profits in the current year. In fact, ACGL is a consistent profit-making and dividend-paying bus body builder for years, now” own bus bodybuilding facilities. There is a good potential for the bus business over a horizon of the next five to ten years. The bus body building division recently completed twenty five years; how would you describe the journey? The bus body building division was started in 1988 and completed twenty five years of its operations in 2013. The journey of twenty five years of bus body building was an exciting one for ACGL. The journey of starting with just a few buses in 1988 with a technical collaboration from a Japanese pioneer in the sector to building over five thousand buses per year has been remarkable. Fortunately for ACGL, there has been only more and more demand for its buses and the business over these years has shown a continuous growth. We consolidated our bus body building activities, streamlined our processes, developed dedicated suppliers, set up ancillary units in and around

ACGL and recruited local people to start with. The company trained and developed them over the years and the existing skilled and experienced manpower at ACGL is its biggest strength. Our turnover, profits and reserves has been growing phenomenally over the last twenty five years. How would you feel ACGL has grown over the years? ACGL is a part of the conglomerate – Tata Motors Ltd – which is the 3rd largest automobile company in the world. Our capital base is relatively small (Rs 6.42 crores) whereas our reserves have grown over the years to a sizeable amount (Rs 177 crores as at December’13). Our shares are actively traded at the stock exchange and command hefty premium over its face value. We contribute significant amount to the bottom-line of our parent company. We also pay sizeable amounts to the exchequer at state and central government levels; during 2012-13 we have paid an amount of over Rs 102

crores to the Government of Goa and Central Government in terms of various taxes and levies. ACGL is also a good corporate citizen and discharges its duties towards society in which it operates. ACGL spends a part of its profits (over Rs 25 lakhs per year) towards meeting its corporate social responsibility. The company donates books, computers, uniforms etc to the meritorious school children in the nearby villages, builds classrooms for professional schools, distributes scholarships to employees’ children, helps industrial training institutes in acquiring training aids, models and so on. Where do you see ACGL in the next twenty five years to come? ACGL has plans to grow multifold in the next five years. It has a vision to triple its turnover from around Rs 400 crores to beyond Rs 1200 crores and double the profits from around Rs 40 crores to over Rs 80 crores

Continuing in their mission to provide world class genset accessories, Power Engineering developed a Gencon 700 Generator Controller. What makes the Gencon 700 different from other genset controllers

INDUSTRY Swaroop Naik

Acoustic Components

Powering the Genset makers Swaroop Naik of Acoustic Components talks to ALISHA PATEL about how the company develops all round solutions for the Genset industry

Being a genset manufacturer, Kirloskar felt that their product was suffering as the accessories available were not up to mark. When they approached us, they proposed that we manufacture door hinges as well, thus providing them with a complete lock and hinge package for a door Swaroop Naik CEO, Acoustic Components Pvt. Ltd.

Swaroop Naik


he Pai Kane Group that started business from a small garage in Atul Pai Kane’s backyard at Mapusa has grown into one of the most respected companies with over two decades of operations in the manufacture of Gensets under the name of Power Engineers Pvt. Ltd. The company was founded in 1989 with the sole aim of facilitating uninterrupted power supply. A technology driven organization, the company has embarked with missionary zeal to transform Gensets into ‘A’ Class white goods. During the course of the journey of Power Engineers, the company found that maintaining the high standard of the gensets was a challenge, due to the quality of accessories available in the market. After taking stock of the situation, the company in 2003 decided to invest in backward integration and formed Acoustic Components Pvt. Ltd. a firm engaged in the manufacture and assembly of components and assemblies used in gensets and other industries. “We found that among the various accessories required to complete a genset, locks and hinges were 34 Business Goa

MARCH 2014

a major worry for us. If the locks on the doors are not properly fixed, resulting in the doors of the genset not being properly closed, problems ranging from foreign material entering the genset and noise from the genset being released arise,” states Swaroop Naik, CEO of Acoustic Components Pvt. Ltd. Taking stock of these problems, Swaroop and his team identified a few designers to develop locks that could take on a heavy impact. After thorough research, they came out with a product made with SS (Stainless Steel) 304. The locks, called ‘Gen Locks’ were the first of its kind in the industry and were used along with the gensets manufactured for other brands. In the initial stages of manufacturing, they floated close to two thousand five hundred products in the market

Lock Testing facility

which were open to feedback and ever since, the quality of the locks has been constantly improved based on feedback from end users. “Today, we have close to ninety five per cent of users, using single design products and we command a market share of thirty two per cent,” informs Swaroop. In the course of time, Power Engineers were approached by Kirloskars, one of the biggest genset manufacturers in the country, as they felt they had a good product. “Being a genset manufacturer, Kirloskar felt that their product was suffering as the accessories available were not up to the mark required by them. When they approached us, they proposed that we manufacture door hinges as well, thus providing them with a complete lock and hinge package for a door. This entire package then could be sold to the authorized engine manufacturers. Once we began operations in full swing, manufacturing die cast, as well as stainless steel hinges, we grabbed the attention of authorized engine manufacturers of a number of companies and soon we began facing competition from other manufacturers which followed in our footsteps,” says Swaroop. Being in the business of manufacturing gensets, Swaroop and his team identified each and every constraint in the process. One of the critical areas they observed was the fuel tanks of the gensets which were earlier manufactured using MS. Power Engineering proposed that these tanks be built using LLDPE (Linear low-density polyethylene). Adopting this material in production greatly reduced the overall weight of the genset. Today, Power Engineers manufacture a large range of fuel tanks

ranging from sixty five litres to three hundred litres. “Not only did this make servicing of the genset easier, but the tanks were also non corrosive. Our tanks are also UV resistant and have found to exceed the required standards,” reveals Swaroop. Continuing in their mission to provide world class genset accessories, Power Engineering developed a Gencon 700 Generator Controller. What makes the Gencon 700 different from other genset controllers is the microprocessor-based programmable generator controllers provide control features for automatic or manual starting generator engines. They are also equipped with front keypad selecting for automatic, manual, test modes and diagnostic mode. They also have an in built settable line voltage monitor and a universal twelve or twenty four VDC power supply suitable for both ETR and ETS engines. The front facia of the controllers also come with a twenty character LCD Display showing the date, time, and multi data meter of AC Power Supply and DC engine running parameters. They are also compatible with and RS32 serial port which allows users to monitor the running parameters of the genset and diagnostic tools to show the last thirty recorded faults in the controller which can be printed. The company also manufactures Exhaust fans of ¼ HP Motor, and an RPM:1425. 230 V.1 PH. Their fans are also dynamically balanced and have an air delivery of seven thousand cubic feet/min. Steering away from the genset sector, Power Engineering began manufacturing light towers, which were widely used in the mining industry and were previously being

is the microprocessor-based programmable generator controllers provide control features for automatic or manual starting generator engines

Hinge manufactured by Acoustic Components

Hinge Assembly Line

imported from the United States. “Over the course of time, we were approached with various requests for manufacturing infrastructural requirements. The light towers manufactured by us, are nine meters in height and have light fixtures which illuminate up to four and a half lakh sq.ft. Today, there has been a complete turnaround; from previously importing the product, we are now exporting the product to the Middle East and Africa,” says a proud Swaroop. Delving into the process of the

The company held a strong sixty per cent of the market which later dropped to thirty per cent, as the demand for gensets increased due to various power shortages and other players got in the business of manufacturing gensets

manufacturing of locks, Swaroop explains that a stamping machine, known as a Power Press is used, which range from thirty to one hundred ton machines. They also have a sheet metal fabrication unit, where the entire process of shelving, stamping and welding take place. Explaining that Stainless Steel requires special care while handling, Swaroop states that they have installed special fixtures and equipment to ensure that there is minimal human contact with the material. This also helps them to maintain a glossy surface finish to all their products. Their hinges, he explains are type casted and the company has at its disposal over two hundred type cast machines. “With these machines, we are able to produce close to fifty five thousand hinges a month,” says Swaroop proudly. When Acoustic Components first started production, their turnover was 3 Crores. Today

they have touched 11 Crores and are further expecting a higher turnover. The company also held a strong sixty per cent of the market which later dropped to thirty per cent, as the demand for gensets increased due to various power shortages and other players got in the business of manufacturing gensets. Power Engineers, however remained unfazed by this competition as their products were still far superior as an entry level players products and till today have a steady list of growing clientele including Kirloskar and Cummins. Looking forward, Swaroop states that they have already begun investing in Fibre-reinforced Plastic (FRP) industries which will eventually replace Stainless Steel products. “Despite the setbacks that we have faced, our annual growth is roughly twenty two per cent per year” states Swaroop on a positive note

MARCH 2014

Business Goa 35


Café Central was established by A.S. Gayatonde in 1932. It was earlier housed in a building called Residencia Fatima, now known as Jesuit House opposite Muncipal Garden. They were known for serving the most delicious bhaji-puri and other mouth watering savouries


Serving you since 1932

Monaliza Dias talks to Ravindra Gayatonde about the growth of Café Central

Cafe Central in Panjim

Ravindra Gayatonde, Abhijit Gayatonde, Rahul D Bandekar and Kedar D Bhandekar


here is just one place in Panjim that is engraved in the hearts of people since time immemorial. Whenever we have an occasion to celebrate, Café Central is where we head to – to buy sweets and savouries. From the bygone days to date, everybody you know in Panjim will reminisce their moments at Café Central. Ravindra Gayatonde, partner of Café Central says, “Café Central was established by my grand uncle, A.S. Gayatonde in 1932. It was earlier housed in a building called Residencia Fatima, now known as Jesuit House opposite Muncipal Garden. We were known for serving the most delicious bhaji-puri and other mouth watering savouries. Due to poor infrastructure, the building had to be demolished. Café Central lived on, at a new location in the city. Currently we are four partners running the legacy of our founder – my son Abhijit Gayatonde, Kedar D Bandekar, Rahul D Bandekar and I.” It is essentially important that we evolve to the needs of the hour. And Café Central did just that. Following the shift in 1973, Café Central was now more of a bakery which sold mostly breads but by 1980, they had around 20 items on their menu. Currently they have around fifty different 36 Business Goa

MARCH 2014

products. “When I joined the business in 1978 and today, the change in preferences and tastes of people has been tremendous. People expect novelty every now and then in what they eat. Hence we experiment with new products. Every item that we sell is unique by itself and they are invented right here in the café. You would not possibly get the same type or taste of products anywhere else,” says Ravindra with pride. With changing times and better technology, we are bound to be exposed to competition with people offering similar products. So how does Café Central manage to have customers flocking the store from the minute it opens until it closes? He says, “We are an old brand; we play an inseparable role in the lives of people. Our customers have been with us for generations.” He further adds, “We never had to struggle much either besides the day-to-day ups and downs in the sale percentage. We are able to enjoy this freedom and comfort in our business because of the reputation that has been built over years.” There is something that sets the savouries from Café Central apart from others. Something that makes people relish on till the last bit is over. Ravindra says, “Unlike other pastry shops,

Well stocked

whose products are factory made, ours are made at the bakery premises.” Café Central has also received praises from customers for their ‘home made touch’. Besides savouries, Café Central also serves pastries and Indian sweets. Talking more about their products, Ravindra reveals that their most popular products are Paneer Tikki Patties, Mushroom Samosas and their Chocolate Eggless Cakes. He further adds, “To keep up with the tastes of our clients, we recently introduced new products which like Vegetable Corn Patties, Manchurian Rolls and Paneer Makhani Roll. Keeping abreast with the latest concern in the market – of healthy food, we started selling Ragi (Naschne) chips, corn chips, soya chips and wheat flakes which are considered health food products. We also make white bread, whole wheat bread, garlic bread, dinner rolls, buns etc.” With a growing list of sixty savouries Café Central is bound to have customers of various age groups coming in to have a bite. “I believe the reason why Café Central is so well known among the masses is because of the affordability of our products. Everyone can afford it – from office going individuals to college students. People are

automatically inclined towards picking up snacks from us. We do not take the loyalty of our clients for granted. We do everything in our means to maintain the quality of our products. Each day we produce fifty to sixty thousand items. All are sold out by the end of the day. Such is the popularity of our products” adds Ravindra. Café Central boasts of being one of the oldest snack bars in Goa. Hence they enjoy a sense of trust. Besides the menu board displayed prominently, the partners at Café Central have never felt the need to publicize the café. “Our products are of a very high quality and are very good value for money; people realize this. On a yearly basis we make a net profit of ten per cent,” informs Ravindra. When a business is as successful as Café Central, one of the most obvious moves would be to expand. “Now that the younger generations are a part of the business, they are planning on establishing more Café Central outlets at various locations in Goa,” says Ravindra. He furthers says, “According to me an expansion can be done in two ways either by opening a branch at another location or using the very same resources that you currently have to your benefit. When you make one hundred percent use of your current resources, it could also be considered as an expansion of the business.” With such work ethics and painstaking efforts to maintain the quality of their products, it is no doubt then, that no matter what time of the day it is, one will always find a hungry crowd waiting to purchase scrumptious snacks from Café Central. “I would never speak of the success of Café Central. I honestly believe it is up to the customers to decide and not for me to gloat,” Ravindra says with the trademark humility that one can attribute to the brand itself


Entrepreneurship award

Shrinivas Dempo awarded by Enterprise Asia


hrinivas Dempo has just been named to the Outstanding Entrepreneurship Award 2014 India in an Asia-wide survey of enterprise owners. He has been recognised for his stewardship of BSE & NSE – listed Goa Carbon Ltd, India’s secondlargest petroleum coke calciner (Turnover Rs 30205 Lakhs Fiscal 2012-13), operating out of plants in Central and Eastern India and Goa.

The prestigious annual Asia Pacific entrepreneurship awards

are chosen by Enterprise Asia, a growing non-governmental organisation promoting enterprise development and responsible business across Asia, Australia and the Pacific. Shrinivas Dempo, arguably Goa’s best-known entrepreneur, joins a galaxy of past enterprise owner -winners Anil Khanna (Blue Dart), Ashank Desai (Mastek) and Phaneesh Moorthy (i-Gate/Patni) among others, all honoured for having demonstrated fairness, pursued sustainability and created investor and stakeholder value in their businesses at a relatively young age.

The judging process takes in an audit that looks at over 20000 enterprises across the world’s largest continent, with an international jury narrowing down the focus to a short list of names for ultimate choice, none from the same industry or sector. For the third generation entrepreneur Dempo, the honour cannot but resonate personally, what with the glittering award ceremony, featuring India Inc.’s Who’s Who at the J W Marriott, Aerocity, New Delhi, falling on 4th March, the 98th birth anniversary of his grandfather and maker of modern Goan industry, the illustrious Vasantrao Dempo! For those watching the grandson, it’s difficult to escape the idiom, ‘a chip off the older block!’

a bird’s eye view of business in Goa As Goa’s only business magazine we have been focussing on all the major events related to business, trade and commerce in the State. Across sectors, personalities and issues. As an independent media voice 38 Business Goa

MARCH 2014


odournet-sensory experts

The World of Odour: Sensory Analysis and Consumer Perception

Guest of Honour,Ravi Raghavan, Editor Chemical Weekly addressing the delegates at the inaugural function


anaji was witness to a first-of-its-kind symposium in India, organized by Odournet Holding India Pvt Ltd., titled The World of Odour: Sensory Analysis and Consumer Perception held on 19th and 20th February, 2014 at The Mandovi. Welcome to the world of Odour! Our senses help us decide about the desirable and less desirable properties of products and materials: The aroma of freshly cooked food in the kitchen triggers positive emotions and feelings, as much as the smell of rotten eggs can upset one’s mood. The human ability to smell is described as the most primal of the five senses, originally used to seek food and detect danger; yet, it is probably the most undervalued of the senses in our culture. Being closely linked to our emotions, smell can be decisive in consumer decision making. Making sense of sensory S e n s o r y analysis helps to enhance your product both on the level of

Hansruedi Gygax, Scientific Consultant to Odournet

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perception and costs by identifying, assessing and optimising the sensory attributes and monitoring the sensory quality. The determination of odour plays a significant role in many industries: Toys can have a pungent odour which might put off children. The odour of paint should not have a bad impact on the indoor air quality. An antiperspirant should reduce the body odour to a certain degree. And what about flavour and fragrance houses? Textiles? Interior parts of cars? Accredited odour laboratories conduct analyses, research and development in the fields of sampling, assessment and measurement of odours with a view to enhancing your products or demonstrating their effectiveness. Consumer studies in real life conditions are an essential cornerstone of product development to find out if your product shows the expected performance from the consumer’s point of view. While sensory analysis in the Indian food and beverage industry is actively instrumental in product development, improvement and quality control, sensory testing for odours is a pioneering concept in India. This first-of-its-kind symposium in India brought key Odournet experts and their Indian counterparts to the table to interact with the participants, sharing valuable information about the importance of product and material optimization and standardization in the Indian

industry to create awareness about sensory testing. Prof G D Yadav, Vice-Chancellor, ICT, Mumbai, was the Chief Guest at the inaugural function in the presence of the Guest of Honour, Ravi Raghavan, Editor, Chemical Weekly, Mumbai, Anton van Harreveld, CEO, Odournet Group of Companies (who delivered the keynote address on the theme) and Odournet experts from Germany, Switzerland, The Netherlands and India. Also present were a galaxy of renowned persons from the Indian industry. Overview of the Symposium During the symposium, eminent national and international speakers addressed the following topics: How Sensory Analysis affects Consumer Perception, Sensory Assessment Methods and case studies, Fragrance v/s Malodour – the role of the human senses, the Molecular Basis of Odour: an introduction to GCMS and GCO Analysis, Sensory Analysis: The Role of Standardization, Sensory Insights: Challenges faced by the Indian Industry. In-depth discussions were held during the Round Table session, covering the following topics: Fragrance/flavour problems, Consumer goods studies, Product improvement and quality control. It was also a good opportunity for colleagues with similar interests to network. The one-on-one interaction was a unique opportunity to meet experts, including fragrance / flavour expert, Hansruedi Gygax, and the head of Odournet’s Centre of Competence, Product and Material Testing, Björn Maxeiner, to find the right answers to sensory-related questions.

Odournet – Sensory Experts since 1980 Odournet is the largest multinational consultancy specialised in odour testing, relying on 30 years of specialist experience with practical knowledge from thousands of studies in all odour relevant sectors. The main focus of their activities in the area of product and material testing is to evaluate the odorous properties of products and materials from a human sensory viewpoint. Their activities cover a wide range of industrial sectors, including automobile parts, personal hygiene, deodorants and sanitary products, incontinence control products, FMCG, building products, food, textiles, packaging, etc. Odournet employs more than 60 specialist staff and operates six accredited odour laboratories, including a specialised laboratory for product and material testing, which is accredited according to EN ISO/IEC 17025. In addition, it owns a dedicated laboratory for molecular odour evaluation using GC/O and GCMS/TOF. As a result of their cooperation in national and international standardisation groups, which stretches back for decades, the process developments and measuring methods for odours have been strongly influenced by the company. Thanks to their consultation and the use of Odournet devices, many official laboratories all over the world have Odournet knowhow available to them, forming the scientific groundwork for the legislation and guidelines for environmental odours of many countries. This experience and expertise has now come to India with the recent establishment of its branch company, Odournet Holding India Pvt Ltd, with its corporate office in Goa

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Drishti - a photo exhibition by GIM


The students of Goa Institute of Management (GIM) organized Drishti, an exhibition of photographs at Kala Academy at Panaji recently. The exhibition showcased photographs in four categories – Nature, Portraits, The Goan Life and Landscapes. The photography exhibition is a creative expression which arose out of the activities of the student group Sprockets who are dedicated to learning photography and film in addition to their business management degree at the Goa Institute of Management. The exhibition is an initiative of the Centre for Creativity, Innovation and Design Thinking centre at GIM. The centre aims to encourage and foster an innovative and creative attitude among budding business students. On display were also photographs clicked by some of the faculty members at GIM.

Speaking on the initiative, Cedric Serpes, Chairman, Center for Innovation and Creativity said “We at GIM, want our students to do things that they have never done before, encourage them to go out of their comfort zone and think out of the box. The Centre for Creativity and Innovation at the Institute has been created to help foster this through the teachings of photography, dance, theatre, art, music, documentary making and other creative mediums.” Present at the exhibition were A G Balasubramanian, Dean, GIM, Cedric Serpes, Chairman for the Centre for Innovation and Creativity, GIM among other faculty and students. Judging the display of 50 photographs at the exhibition were David DeSouza, eminent photographer from Mumbai, Francis de Sousa, a highly skilled and successful artist and Tomoko Lobo, Creative Director, Find All publications. The winners of the photo exhibition for the different categories were Anshuman Singh for Portraits, Rahul Chandan for Landscape, Kunal Parmar for Goan Life and Ankush Mittal for Nature

Chanakya’s 7 secrets of Leadership Chanakya, who lived in India in the 4th Century BC, was a leadership guru par excellence. The treasure of his teachings can be found in his book, The Arthashastra, which deals with good governance based on ideal leadership. The concept of the ideal nation in The Arthashastra, called Saptanga, holds that there are seven pillars of a kingdom: Swami, Amatya, Janpada, Durg, Kosha, Dand, Mitra iti Prakritya. For centuries, Indian rulers have used this concept as a model of successful government. In this path-breaking book, Chanakya’s 7 Secrets of Leadership, author Radhakrishnan Pillai delves into Chanakya’s Saptanga with the real-life example of D. Sivanandhan. Former Director General of Police, Maharashtra, and the archetype of an able administrator, Sivanandhan shares his guidelines for effective management, highlighting those that make him a dynamic leader. In Chanakya’s 7 Secrets of Leadership, theory meets practice, academic research meets vast experience in police supervision and an age-old formula is revealed in a modernday success story. Together, Pillai and Sivanandhan bring Chanakya’s model to life. Anyone can use the seven secrets of leadership to run a kingdom effectively. Apply them in your life, and the magic of Chanakya’s wisdom will transform you into the ideal leader Publisher:


Jaico Books


‘Prime Time’ celebrated by Don Bosco The Department of Mass Media of Don Bosco College, Panaji organized the fourth edition of its annual media fest ‘Prime Time’ this month. The one-day, inter-class event, themed ‘Flashback- A media view of Goan Traditions’ was held in the conference hall of Don Bosco Oratory. The theme dealt with Goan Traditions and culture and an effort to keep them alive. Competitions such as photography, poster advertisements, public service message video, radio jockeying and feature writing were organized. The event commenced by lighting of the ceremonial lamp at the hands of chief guest and speaker of the day Wendy Correa. Principal of 42 Business Goa

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Don Bosco College Marie Raj and coordinator of the mass media department Lata Rajeev were also present on this occasion. A half-day workshop on the topic ‘Effective Communication skills’ by Wendy Correa, a communication skills expert, was the main attraction of the event. Students actively participated in this where they learnt how to communicate effectively in public. The latter half of the day was spent screening videos and listening to RJing competitions by students

Across: : 1.American producer of canned soups (8) 5. _______ & Gamble – consumer products company (7) 7. A consulting or short term project is also called this (10) 11.Member of Legislative Assembly, in short (3) 12. US intelligence agency (3) 14. Emirates Lube Oil company, shortened (4) 15. Arts and Science college based in Madgaon (8) Down: 1. Pharma company based in Mumbai (5) 2.One who follows the teachings of Mao (6) 3. _____ Ipsum – placeholder text used in graphic design (5) 4. Cosmetics co with brands like ‘Anew’ and ‘Advance Techniques’ (4) 6. Switch which turns a mechanism on or off (6) 8. A person like 2Down would consider capitalism ____ (4) 9. Founder of Toyota motors, with a similar sounding name (6) 10. Oil and Natural Gas Corporation (4) 13. Much ___ about nothing, as Holmes would say (3) 14. English Premier League (3) answers to crossword 51 Across 1. Wells Fargo 5. Captive 6. Real 7. Hanes 9. NCPA 11. Ramco 12. NTPC 13. Tours 14. Sting Down 1. Wockhardt 2. Lupin 3. American 4. Opala 8. Encore 10. Aspen

professional dossier raya shankhwalker

“I restored the façade of the Customs House. It was the first time ever that such a project was ever undertaken in the State. I also went on to work on the restoration of the Police Headquarters in Panaji along with senior architect Sarto Almeida”


Spatial Design Guru

Raya Shankhwalker’s architectural firm is known for its contemporary designs


ike every other teenager struggling to figure out what exactly it was they wanted to be, I too wasn’t very sure about my career path. Though there was always a slight inclination towards the field of architecture, I was never passionate about it back then. What drove me towards taking up architecture was that it was a course that was not very theoretical. That kicked up my imagination and that is how I joined the Goa College of Architecture. What followed was a memorable and eventful journey. Initially I knew nothing about the field. The only impression I had of an architect was of a person who designs buildings. I later learnt there was a lot more to the field that I would have ever imagined and my learning experience truly began on the field. Since passing through the portals of the Goa College of Architecture in 1996, the journey I would say has been long and turbulent, but fairly enjoyable. Unlike my contemporaries who chose to move out of Goa for professional gain, I stayed back as Goa is such a beautiful place and I am strongly attached to her. I also believed that I could be a part of the development process of Goa. Though I had a slow start, I was able to sustain. Right from the start, I was very clear that I wanted to build my practice as an architect in a clean and ethical manner. Back then too, people did not understand the value of an architect and were reluctant to pay us our dues as per the specified norms. There were times when I turned down projects because they clashed with the principles that I believed in. At times, I think that because

A project for Adwalpalkars

Raya Shankhwalker

The nightclub, SinQ

I chose this path, it made the journey tougher. During this time, I took up small scale and interior projects which helped me sustain for a few years until I got a few interesting breaks. It was also in this initial stage of my career that I was actively involved in social projects and became a founder member of the Goa Heritage Action Group. I dedicated a good number of years towards building and promoting the Group as well as raising awareness on heritage conservation in Goa. Under the banner of the Group, I

was one of the founder members of the Fontainhas Festival of the Arts and the Goa Heritage Festival. I was also involved in the revitalization plan of the city of Panaji. These years, were the most memorable of my career as they were the most fulfilling, too The first house that I designed was in Mapusa for a cousin. This was one of the first clear greenfield projects. From there on, I designed houses for a number of years before I landed a conservation project in the heart of Panaji. I restored the façade of the Customs House. It was the first time ever that such a project was ever undertaken in the State. I also went on to do the restoration of the Police Headquarters in Panaji in association with senior architect Sarto Almeida. These, for me, were two of my most important achievements because these two projects brightened up the otherwise drab city of Panaji and brought about a process of revitalization of Panaji. Projects like these were a catalyst for bringing back colours to Panaji and paved the way for other restoration movements. Though I haven’t developed a signature style yet, I draw inspiration from the culture and history of Goa. Many times,

clients have approached me with requests to replicate historical buildings. I strongly feel that Goa has landed up creating pseudo heritage in the modern era. I have to turn down requests to replicate heritage buildings, because I build new houses, not replicas. I do however draw inspiration from these buildings and interpret them in a modern manner. In a nutshell, I would describe my style as culture sensitive, modern, tropical architecture. As an architect, I take care to ensure energy conservation at every stage. I have always been conscious about the works that we undertake. I have always stressed on following architectural practices which are eco-friendly. Our projects are energy efficient and we have instances where we have made optimum use of solar heating and LED lighting. Being environmentally friendly in my projects is not something I do for the publicity, but for my conscience. Over the course of my career, I have devoted a lot of my time in making sure that the place I love and live in remains aesthetic for generations to come as well as contributed to the well being and development of Goa. Looking forward, I want to explore other avenues which will give me the same satisfaction that architecture has given me for the last fifteen years. I also want to see my firm evolve into a bigger and vibrant design firm As told to alisha patel MARCH 2014

Business Goa 43


Manisha’s journey began with the Lions Club of Margao where she served for twenty years. The appreciation that she received for her work led her to believe that she could do more and joined hands with the Government to help make a difference to the society

Manisha Naik

Empowering women in the business space ALISHA PATEL in conversation with Manisha Naik, Chairperson of the Women’s Wing, Goa Chamber of Commerce & Industry

Women need encouragement to build their self confidence and build their knowledge banks especially in financial areas manisha naik


or Manisha Naik, social work became her life calling even before she understood what it encompassed. “My Father owned a cloth shop and it was here that the seeds of social work were sown in me. As a child, I often saw him go out of his way to help his customers, even with personal problems. This greatly influenced me and since 1990, I have been actively involved in various social causes but one to mention is the time spent with the deaf and dumb children,” she says. Manisha’s journey began with the Lions Club of Margao where she served for twenty years. The appreciation that she received for her work led her to believe that she could do more and joined hands with the Government to help make a difference to the society. The first break came her way, when she served as the Vice Chairperson of Goa State Horticulture Cooperation for the year 2005-2007 and was then appointed by the Central and Goa Government as the Chairperson of Goa State Social Welfare Board where she served for two terms from November 2007-2013. She expresses her happiness for having been recognized by the Government of Goa by awarding 44 Business Goa

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her Prestigious State Award “Yashodamini Puraskar” in the year 2009. When asked about the various causes that she espouses, Manisha reveals that during her tenure at the Lions Club of Margao, she was elevated to become the first lady President of the Club. She was also the Vice Chairperson of the Indian Red Cross, Salcete from 20022004. In 2005, she was appointed as the Chairperson of the 18th June Kranti Din Committee of which she is still a member. She, being the founder and trustee of Senior Citizens Recreation center, takes pleasure in working with the senior citizens, PeddaMargao also she is the President of Asha Mahal – a short stay home for distressed women and children which is run free of cost. Also on her illustrious list is her association with MARG, an organization which works towards maintaining traffic rules. At present she is the Chairperson of the Women’s Wing of Goa Chamber of Commerce and Industry (GCCI). Speaking about her role as President of the Women’s Wing of GCCI, Manisha says that economic empowerment is the first step towards empowering women and the GCCI has

undertaken several initiatives towards encouraging women. “We organized a mushroom cultivation course for women last year and this year, we are conducting nursing assistantship courses as well as other skill development and awareness courses,” she reveals. She further adds that as the Cell Head, she will personally ensure that the GCCI plays an active role in assisting women to set up their own businesses or seek employment in the industry. “Women need encouragement to build their self confidence and build their knowledge banks especially in financially related areas. The Women’s Wing is in the process of setting up platforms for workshops and other assistance that may be required by women” she also added. On a positive note, Manisha reveals that the ratio of working women is significantly higher in Goa than their compatriots in other parts of the country. However, she feels that as entrepreneurs, it is a whole different ball game. “Women are bringing in the bread nowadays, but when it comes to spearheading their own businesses ventures, they aren’t as encouraged as they should be,” she says. Manisha also says that lack of self confidence is another factor that impedes entrepreneurship among women. In her opinion, talks and other training should be imparted to women to instil in them a sense of self-belief and a sense of self-assurance. Unlike men, women have to walk the proverbial tight rope, balancing their personal and professional lives. So how does Manisha do it? “My day begins at five in the morning with an hour of yoga, followed by breakfast with family. I then head to the office or attend to prior commitments and end my day by seven in the evening or earlier. I find the best

way to unwind is with my family. I feel I have been blessed with a very supportive family. When everyone and everything is on your side, things automatically pan out the way you want and everything balances itself out,” she informs. Taking on the sensitive issue of gender biases, Manisha states that whether we accept it or not, women do suffer gender biases at various levels, at the office and even at home sometimes. “As women, we should have selfrespect, if we are to command respect from others. Our future is bright, but I am still waiting for the day when we will be treated as equals with no reservations. I strongly believe that we have to feel equal to be treated as equals” she states. Revealing that the Women’s Wing of the GCCI has major plans on their cards for encouraging women empowerment, Manisha says that apart from the Nursing Assistantship course, they will also shoulder the responsibility of placements for women who have completed the course. They have also partnered with the Institute of Hotel Management, Catering Technology and Applied Nutrition to hold courses in cooking, bakery and patisserie, waiters training and housekeeping. Recruitments for employment will also be a part of this initiative. The Women’s Wing has also tied up with members of the Green Earth Translogistics Pvt. Ltd. to undertake ‘Women Cab’ projects in the State. “I am trying to bring in new ideas to attract more and more women to participate and avail of our schemes. I hope to carry forward the tradition and ideology of my various Past Presidents while incorporating my ideas and experiences as a social worker so that the GCCI Women’s Wing plays a more positive role in women empowerment throughout the State,” she says

The FSP test is applicable whether you are a startup, running company or family business. If you are a startup, it is crucial because it practically decides your success script


How to choose a business idea Choosing the right business idea can create a blueprint for business success

I 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.

Scalability is purely arithmetic. Size matters. There was a time two decades ago when marketers thought that ‘market’ was a static entity and entrepreneurs had to fight for ‘marketshare.’ Not anymore.

n my last column we discussed the process of ideation. This time, let us examine how to pick that one shark of an idea from a plethora of them. How do you know which idea fits the bill? Check out three parameters. Is it feasible? Is it scalable? Is it profitable? The answer has to be a resounding “YES” to all three questions. You can’t play inky-pinky-ponky here and choose one of them. Your idea has to score high on all three metrics in the FSP test! Feasibility is about the whole process of converting your business idea from a notion in your head to a commercial product that you can take to market. The questions you have to ask here are: Are the resources, both human and capital, available? What would it cost you to access them in terms of time, effort, money? Are there regulatory issues that you have to contend with? E.g. your idea may be something in the field of artificial intelligence for surveillance. Your customer is the Military. People may be few and far between with this kind of domain knowledge. Even if you could lay your hands on them, the cost may be huge. Even if you can mobilize resources to manage those costs, the time taken to build your product and go to market is so enormous that the cost of gestation will write your epitaph. And even if you manage all of it, because your customer is the defence sector, the regulatory policies may become a hurdle. Scalability is purely arithmetic. Size matters. There was a time two decades ago when marketers thought that ‘market’ was a static entity and entrepreneurs had to fight for ‘marketshare’. In the last five years it is pretty much established that market is a dynamic entity and it is the entrepreneur’s vision that not only makes it grow but almost infinite. So today, we talk

Bill Gates and Paul Allen got their business idea right very early on, and Microsoft has been laughing all the way to the bank ever since

of ‘mindshare’, not ‘marketshare’ Mindshare is about becoming an addictive habit for your customer such that if her brand of shampoo is not available in the nearest super market, your customer will either go without washing her hair or walk two miles to the store that stocks it. Coke famously talked of ‘stomachshare’. Coke’s vision was that every tap in every household should have coke coming out of it! E.g. A bunch of enthusiastic first year MBAs decide to start a Chinese restaurant in their business school campus purely for the gastronomic pleasure of the students, faculty and staff of the school. Even if it is a killer of an idea in the sense of huge customer satisfaction, the market is limited. What happens to it once the ideators graduate? Even assuming they have put a team and process in place, as long as its customers are captive, scale is not an option at all. The biggest clincher is of course profitability. The question you have to ask here is: Can my business idea generate surplus? Not once or twice, not sporadically but perennially? When you are defining this metric, it is important to remember that every business necessarily has to make profit, even a social enterprise. The

entrepreneur may decide whether he will take his share out, or use it for the larger good, but generate profit he must. You should also remember that whilst making profit is necessarily on the agenda, it cannot be the sole agenda. If you do all the right things, money flows. Profit has to be the unintended consequence of doing right and not the sole reason. Tricky to hit the right balance eh! The FSP test is applicable whether you are a startup, running company or family business. If you are a startup, it is crucial because it practically decides your success script. Microsoft is still laughing its way into the bank with a single product even after so many years. If you are an established organization, it may catapult you to the next league or become an albatross around your neck. Nokia gave away its commendable success with one bad decision of staying away from the smartphone market five years ago. If you are a family business, it may even decide your survival in the market place. Look at Arvind and the heady success it had with its denim foray! So get your business idea ready for the FSP test!

MARCH 2014

Business Goa 45


The Government has already recognised the role that MSMEs play in the development of the Indian economy – be it employment generation, the contribution to the tax kitty or more importantly keeping industrialisation vibrant

How should MSMEs deal with price hikes?

The author analyzes the logic behind incessant price hikes and their repercussions on MSMEs

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

I It is believed that MSMEs serve an even more important role – they keep the large units and larger MNCs ticking. It is no secret that if the MSME sector shuts down, not many large units will be able to operate

46 Business Goa

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t is pretty terrible being at the bottom of the food chain. I am not talking about the big fishsmall fish situation in the ocean. My concern is the position that MSMEs occupy in the corporate hierarchy. The Government has already recognised the role MSMEs play in the development of the Indian economy – be it employment generation, be it contribution to the tax kitty or more importantly keeping our industrialisation vibrant. It is believed that MSMEs serve an even more important role – they keep the large units and larger MNCs ticking. It is no secret that if the MSME sector shuts down, not many large units will be able to operate. 99%, if not 100% outsource parts and services from some MSME or other. If the MSMEs are such an important cog in the wheel of commerce, how come they are relegated to the bottom of the food chain, metaphorically speaking?

MSMEs usually have to source raw material from larger companies. In our case, it is the petroleum companies, viz Reliance/IPCL, GAIL etc. These companies announce price hikes as and when they feel. The beauty of their hike is that the price automatically updates in their ERP systems and the next invoice is billed to you at the new price. I once asked a senior GAIL official as to why polymer prices are hiked the same day that crude oil prices are hiked in the North Sea? Would it not take a few days if not weeks for that higher priced crude to come to India to be processed? How come all the Petroleum companies – private and public hike prices in tandem? His answer was absurd, but a reality. “If Reliance or IPCL hiked their price and GAIL did not, a question would appear in Parliament, as to why GAIL’s price was not hiked thereby causing a loss to exchequer. So to avoid answering in Parliament,

we raise the price and customer be dammed.” So the MSME has to buy and supply at the new price. No options available here. Once the raw material supplier hikes the price, the MSME has to approach his large customer for a hike. This is easier said than done. Any large supplier will have systems. The first being that if a Purchase Order is issued at a particular price and particular quantity, the system will refuse to accept any other price. So basically the MSME cannot change the price to its customer just like the raw material supplier did to it. Then comes the part where the customer has to be convinced on the change in price. Why would a price hike be needed? Generally large companies want prices fixed for the whole year. Their business case does not allow for any hikes. The threats follow – “If you insist on a hike we will have to look at alternatives.” The list can go on. Given the current situation where orders are difficult to come by, prices rising on the other hand and fixed costs waiting to be covered. What should an MSME do? If it continues to supply at the old rates it is bound to go under, if it pushes for an increase it runs the risk of losing the order. Hobson’s Choice! My recommendation is that the MSME must take the chance of losing the order. It must work hard at convincing its buyer that a price increase is beneficial for both. If price increase is not offered, the MSME will go under and the buyer will have to look for a new source which will also need an increase. It is a win-win for all concerned if the legitimate rise is given. MSMEs maybe at the bottom of the food chain, but they must avoid getting eaten up. Happy price negotiating


While many Indians have been honoured both in the United States and in India, there are some who have found themselves on the wrong side of the law. For those few the lure of money appears to have brought them down from their lofty positions

Disparate Indian Diaspora The writer talks about Indian origin professionals making news in USA

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


y wife and I returned to New York after spending several weeks in Goa enjoying the spectacular weather and taking in the gentle sound of the calm waves of the Arabian Sea. The relaxed life styles of the Goans whether enjoying a plate of vindaloo or bhaji pao with friends made us appreciate ‘sussegado’. We returned to Manhattan when the temperature was a ‘warm’ minus 5 Celsius! I say warm because New York and the East Coast of America had experienced massive snowstorms and cold winds for a few weeks prior to our arrival. The cold weather has not subsided with ‘mountains’ of ice and snow all along the edge of the roads and along pavements. The fabled groundhog saw his own shadow on February 4th indicating a longer than normal winter weather this year. This cold and dreary February two persons of Indian origin were in the news for very different reasons. Satya Nadella was appointed Chief Executive Officer of Microsoft. Satya, 47 years old, was born in Hyderabad and studied at Manipal Institute of Technology in Karnataka before receiving

his MBA from the Chicago Booth School of Business. Nadella has worked for Microsoft for the past 12 years. All of us applaud this fantastic achievement of reaching the pinnacle of one of the largest companies in the world. The other person in the news is Mathew Martoma previously of SAC Capital, a Hedge Fund. Mathew, 39 years old, grew up in Florida where his father owns a dry cleaning company. He studied at Harvard Law School and subsequently at Yale. Martoma decided to change his name from his birth name of Ajai Mathew Thomas after he was caught cheating on his grades at Harvard. Mathew was well known in the pharmaceutical industry and had many friends who were happy to share information with him. The data and information that he collected helped him and SAC Capital to buy or sell shares of some companies before news on a particular drug was publicly known. SAC Capital is believed to have made a lot of money from such transactions. Martoma also collected money in bonuses from such deals. The New York State Prosecutor Preet Bharara soon chalked up his seventy-ninth convictions for insider trading activities. Two people of Indian origin – Nadella and Bharara – at two ends of the United States were applauded for their great achievement, and Martoma made the headlines for wrong reasons. About three million people of Indian origin (Desis) live in the United States, or around 0.7% of the population. In the last few years, Indians have made news for both – good and not so exciting reasons. Is there a reason for such extremes? Over the last twenty-five years Indians have migrated to the United States to make a better life for themselves. Many came here for higher

Amar Bose was born and raised in USA by Bengali parents. It is a stretch of the imagination to say that Bose, of the famous Bose Speakers was ‘Indian’ education after completing their studies in India. Some of them arrived as their parents brought them here when they were children and have been schooled in this country, while others were born here. Indians have taken leadership roles in diverse fields such as politics, science and technology, education, literature, business and industry, the arts and entertainment. The list is long. While many Indians have been honoured both in the United States and in India, there are some who have found themselves on the wrong side of the law. For those few, the lure of money appears to have brought them down from their lofty positions. Most prominent among this group is Rajat Gupta who got caught in Preet Bharara’s web. A few words about two prominent Indians in the political sphere who have been in the news and are likely to stay in the news till the Presidential elections in 2016. They are Bobby Jindal and Nikki Haley. Jindal is the Governor of Louisiana and Haley is the Governor of South Carolina. Bobby Jindal was born in 1971 in Baton Rouge Louisiana to Hindu parents who immigrated to the United States from Punjab, but he soon converted to Christianity. He studied at Brown University and became a Rhodes Scholar

who majored in Political Science at Oxford, England. Nikki Haley was born Nimrita Randhawa in Bamberg, South Carolina. Her parents are Sikh and emigrated from Punjab before she was born. Haley identifies herself as a Christian while attending both the Methodist church and the Sikh Gurdwara. Both these people are mentioned in the Indian media as ‘Indians’, but I would say that they have Indian parents, but are born and bred Americans, and as such have minimal connection with India. In the field of electronics and education, the one name that stands out is of Amar Gopal Bose. He was born and raised in the United States by Bengali parents. It is a stretch of the imagination to say that Bose, of the famous Bose Speakers was ‘Indian’. Silicon India recently published a list ‘23 IndianOrigin Entrepreneurs in Forbes’ Brightest Young Stars’, giving the false impression that these bright exciting young men and women were from India. Most of them were born here in the United States! On the other hand, the list of Forbes’ list of Indian CEOs of major US companies is very impressive. They include people like Indira Nooyi of Pepsi, Vikram Pandit previously of Citicorp, Surya Mohapatra of Quest Diagnostics, Santanu Narayan of Adobe, and others. Indians and people with Indian names (as one of their parents is Indian) have been making news here in this country. We salute the Indian diaspora who have achieved major heights in this fast-changing New World, just as we are sorry for those who chose to take a different route and ended up behind bars. We urge all of us in the US and in India to recognize and applaud Indians in all walks of life, in large corporations or in mall start-ups, who have excelled and those who will follow them to equally well or better MARCH 2014

Business Goa 47


Look at Sachin Tendulkar when he was made Captain of the Indian squad. Both, his own and the team’s performance dipped. Soon he realized that though it was his desire to be a Captain, however on his personal capacity he was much better off as a player

Tackling burn out

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

No concept, however interesting it may be, can replace the basic requisites of comfort and efficiency of working environment that should get the best out of you


ecently as I was rearranging my book shelf, I happened to see one of my all time favourite books written by Dr. Pestomjee (Retd. Prof. IIM-A), from whom I had the privilege of being taught by during my fellowship. I had some leisure time so I decided to re-read his research papers along with the book. While doing so, my son Aumkar came and sat in front of me engrossed reading his story 48 Business Goa

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book. I noticed the words on his ‘T’ shirt which read as follows “I am not lazy, I am simply motivated to do nothing,” and as I read this aloud to him, both of us burst into laughter. Aumsi, as we call him affectionately is like an inquisitive professor. He peeped into the book that I was reading and after some time asked “Pa, How many of your clients administer stress tests to check the stress and strain level in their organizations?” I knew where this was going as I am bit of a demanding person at home and may be a contributor to his stress. But on hindsight I was dumb struck as “Stress” is one area most of us talk about and practically all use this word in their corporate usage. Do we know what exactly “Stress” is? Or what causes stress? What are the ways to measure and monitor stress and strain in our system? And what are the remedial actions to combat stress? Talking about stress, don’t you think the recent rise of the AAP (Aam Aadmi Party) is a by-product of stress and strain burst amongst voters against popular regime? In this case the “mass stress” was optimized and applied with a good purpose of giving alternatives of hope and change but manifestations of stress and strain may not always be as productive as AAP’s success. In fact, if not managedm stress can be irreversibly counterproductive. A few days ago, I was invited as Principal Consultant to facilitate an integrated intervention for a MNC in Bangalore for their senior management team. As we were facilitating them through an experiential outbound blended with process lab, some interesting data and patterns emerged. Most of the employees of this bank were in their early or late thirties and they were at senior levels. They had an illustrious lineage of management education and

The Writer talks about achieving a stable and stress free success in chaos

a burning desire which earned them heavy pay packages and probably every possible five star work set up. Yet, managing change for them was a struggle, as even the organization was poised at a crossroad and time was literally running out for them. We studied their psychometric data points at two levels, “Adaptive and Natural,” both at individual and group level. At a “Natural” level each individual was unique but at an “Adaptive” level, both at individual and as part of a group, they turned out to be concentrating on one single shade called “Implementers” while their role actually demanded innovation, vision and strategy. Just imagine if the “Thinker” role is done with an “Implementer” attitude, there would hardly be any change. Everyone would work like zombies! How would the Bank compete? How would it present winning products and services and create a USP? As more data points emerged for this group under facilitation processes, we could lay hands on identification of the psychological blocks which were also validated in process, so logically the next step was to scout for causes both internal, external and remedies to combat the blocks. We started to facilitate like how a scuba diver would

do, slowly and systematically taking the process deeper and deeper and we ensured that the equalization issues were sorted out. We all could now see a new psychological world in which most of them were living subconsciously. Senior employees were neck deep into stress and strain and one of the reasons was – there was no career path beyond as they themselves had super accelerated their speeds and reached sort of a dead end! They had reached a level so fast that even the organization had no space beyond to accommodate them. The organization could not afford any further pay revision as it hardly co-related with the work load. There was no visible difference in their contribution vis-à-vis their sub-ordinates. To add to the agony, the opportunities outside were also facing similar issues, so switching companies was also difficult. Someone in that group wisely summed up that “It’s the problem of plenty” and addiction to “Speed” which caused “Burn out”. Sometimes we ignore the simple wisdom on the sign boards on the National Highway one of them aptly fits here “Speed thrills but also kills” The moment this “Burn out” becomes epidemic, the first thing it will do is “trust erosion” and

and remain stress free. Without much ego hassles, he humbly stepped down. He clearly knew his limitations. He often paused for capacity building and that’s how he could play for twenty five years in a game where people have burnt out much earlier force everybody into a “Stressful Adaptive Mode,” like stretching a rubber band – imagine now if you are stretching it beyond its elasticity, it would either break or snap back into a deformed shape. Recently in Goa, I read about a person committing suicide as he was laid off by the organization and it let loose the blame game from either side. One should understand that organizations are designed to be commercial entities and they are meant to extract more than what they pay. Some do it in a humane way while others, in a barbaric fashion. It is our fault that we either tend to be casual and overlook the signals or we have blind trust! Look at Sachin Tendulkar when he was made Captain of the Indian squad. Both, his own and the team’s performance dipped. Soon he realized that though it was his desire to be a

Captain, however on his personal capacity he was much better off as a player and remain stress free. Without much ego hassles, he humbly stepped down. He clearly knew his limitations. He often paused for capacity building and that’s how he could play for twenty five years in a game where people have burnt out much earlier. New financial years bring at times a recipe for burn out through “Goal setting process” in organizations. Yet, here is a formula for stable and stress free success in chaos. SUCCESS = NEED x CAPACITY x DESIRE It’s a 3 step intervention any one zero implies success is also zero 1) NEED Needs wary from time to time, and it is also a self perception. An organization doing well today may become obsolete tomorrow. Read the weak signals and plan

your shift before you sink with it. Maintain the habit of reading any reliable business news paper and keep track of signals. 2) CAPACITY Each one of us has a unique capacity and it comes with limitations. So assess your own self and then plan the exploitation of it over a 25 year span so that you retire naturally such that either your retirement plan is in place or your natural successor is ready to take charge; but remember to keep a healthy overlap of time. The other option is complement and supplement your capacity. 3) DESIRE It’s a double edged sword. It is better to take inputs from professional and true friends at regular intervals as this will act as checks and balances, thus taming and shaping your desires. You could also practice CSR at

your individual level. It will help in creating a larger purpose beyond self. This will also drive out the evil desires and keep the good desire in. Engage in hobbies for energy. We all have to “Burn” but the challenge is “not getting out soon” and this can happen only if you regularly revisit and objectively assess the NEED, CAPACITY and DESIRE and facilitate them with healthy coping mechanisms. Let us illuminate the darkness within by lighting the candle inside us and not just holding it outside

The Voice of Business in Goa

MARCH 2014

Business Goa 49

inTerior design

It may be interesting to note that with the popularity of portable equipments such as laptops or tablets , the concept of a defined workspace may soon be a redundant one

The New Age Office The writer talks about the new age office space resulting in efficient outputs.

Ajay S. Sardesai The writer is a practicing Architect

The new workspace could very well pass off for a resort, a day spa or a recreation centre. In case you imagine the people working there losing their focus with all the fun and frolic next door, that would be far from being true. Some of the biggest IT, Design and advertising firms have explored these concepts with pretty efficient outputs


eed a break? How about a quick shuteye on a lounger or half an hour of video games with a colleague or a barefoot stroll on the lawns or a 50 Business Goa

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quick set of pool – all during your regular office hours? Surprised? Don’t be. Welcome to the new age work space. It’s tough calling it an office without conjuring up images of piles of unkempt files, dusty corridors or drab walls. The new workspace could very well pass off for a resort, a day spa or a recreation centre. In case you imagine the people working there are losing their focus with all the fun and frolic next door, it would be far from being true. Some of the biggest IT, design and advertising firms have explored these concepts with rather efficient results. Office spaces have evolved over the years. They have influenced the way we work and in some curious ways our work culture in turn has influenced the way we shape our offices. I am exploring the basic idea of office space, not limited to a particular size or a function, but different concepts that have evolved over the years. Coming back to the actual working environment, modern offices have evolved in far more unconventional ways. It may be interesting to note that with the popularity of portable equipments such as laptops or tablets, the concept of a defined workspace may soon be a redundant one. Large office spaces have, in recent years started moving in that direction. As more and more offices become paper free, the requirement of hard copy storage space has come down heavily. Online libraries have limited the utility of the physical ones. The need to physically access the information no longer exists as information is available ‘anywhere- anytime’. I have been involved in design of offices either as independent entities or as part of a larger corporate – like a hotel, an institution, a commercial or a manufacturing facility, the number of people housed in

Google offices proudly sport their corporate colours and spell out their ‘un-officious’ ethos

them ranging from 6 to 700. Irrespective of the size of the office space and the number of staff it may cater to, there are a few basic functions it has to perform: Working, interaction and ancillary support activities are three major activity zones in most office spaces. They may be designed as separate identities or may overlap depending on design concepts, space constraints or personal preferences. At a very basic level ‘The Prime Module’ or the primary work space is the unit building block of the office space. Normally it is a work table or a singular workstation and has the primary objective to provide a comfortable and an efficient work space. The dynamics of this space change when it has to perform add-on functions such as being a discussion table or a place to entertain your visitors. Innovative furniture concepts give a certain amount of flexibility to office layouts, as it makes it possible to arrange modular furniture units to be used in various permutations and combinations. Working space may be designed as a stand-alone workstation or a cluster in a open plan, a semi-enclosed cubicle (for one or more people), a work lounge for multiple users with informal interaction with low to moderate levels of confidentiality, a group office for specific duration project involving

a group that needs frequent interaction while maintaining high confidentiality, a private office requiring high levels of confidentiality and concentration, acoustical insulation. Interactive spaces may be enclosed discussion rooms, think pads, meeting rooms, conference rooms or informal lounges for a dozen odd people. It may, at times, necessitate one to be sitting at one’s own table all day for some work to done, yet there are certain preferences I have come across in people. This is true especially in people engaged in a creative profession. It may be anything ranging from limiting yourself to a small enclosure with no disturbance on one hand to sitting amid the buzz of a cafe or an open garden space. Modern Next Gen offices have evolved around this concept. SoHo or Small Office Home Office has people working out of their homes thus having flexible schedules and freedom from driving to office braving heavy traffic. The home and work zones are merged seamlessly. No concept, however interesting it may be, can replace the basic requisites of comfort and efficiency of working environment that should get the best out of you. All said and done a working person spends a sizeable part of his day at the Office, so it better provide the comforts to make work better, productive and stress free

what’s up goa

Fun, Food & Frolic at Goa Marriott

Goa Marriott Resort & Spa invites you to experience the exotic Malaysian Food Festival at your favourite oriental restaurant, Wan Hao, from March 7 to 16, 7 pm onwards. Delight in an explosion of flavours from this land of culinary diversity, as you partake in a gastronomic sojourn of epic proportions! From lip-smacking traditional dishes to contemporary creations, discover the tantalizing tastes and smells from the Land of Glory. Relish the basic Malay flavours embodied in the Sambal, and sample the delicate zest of Asam Laksa, Malaysia’s beloved noodle soup. The rich and succulent Gulai is a treat

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for the palate, while bountiful rice and noodle offerings, including the all-time favourite Nasi Goreng (Spicy Malaysian fried rice), provide the perfect accompaniment. Also featuring a splendid selection of truly authentic Malay cuisine. Just take your pick from a plethora of preparations, and let the awardwinning Chef work his magic. Goa Marriott Resort & Spa also celebrates the fabulous festival of colours amid a splash of sunshine and rain, with ‘Holi at the Beach’ on March 17, from 12 noon to 4pm! Experience an afternoon of sheer fun and frolic like never before! Herald the arrival of spring by reveling with your friends and loved ones at the beach! Go crazy colouring and drenching each other on the sparkling sandy shores. Playfully proclaim ‘Holi Aayi Re!’ at the beach this March, only at the Goa Marriott Resort & Spa!

Goa Tourism set to organize GITM The Goa International Travel Mart (GITM) will be held from April 2 to 4, at Dr. Shyama Prasad Mukerjee Stadium at Taleigao. This year’s GITM is planned on a larger scale than the previous years as it is expected 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. The main aim behind GITM 2014 is to serve as a platform for face-to-face networking among travel-trade, hoteliers and other stakeholders from Goa with leading travel agents from India and abroad. GITM will also reach out to State Tourism Board, District Tourism Centres, Trade

Associations/National Travel Organizations, Airlines,Travel Agents & Tour Operators ,Hotels & 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

John Distillery’s two new single-malt whiskeys launched in Goa Paul John

“We may not have pristine spring water from the Scottish mountains, but Goa’s pure, sweet water is no less, said liquor industrialist Paul John launching John Distillery’s (JDL) two new single malt whiskeys in Panaji recently. Matured in singlecasks at their Goa facility which is a state of art plant started in

the year 2008-09, the new offerings from JDL have won multiple international awards, including whiskey connoisseur Jim Murray’s ‘Liquid Gold award’. Targeting the seasoned Scotch-lover and single malt lover, ‘Paul John Brilliance’ and Paul John Edited’, both with a high 46% alcohol content, were first launched in the United Kingdom in the end of 2012, and have since received rave reviews from across Europe. “Our single malts are made entirely of Indian ingredientsthe barley, yeast and most importantly, the water, which is sourced from Goa,” said Paul John

Nautica Goa Beach Run by Vasco Sports Club Beach Run (inset) Nitin Bandekar gives away prizes

Vasco Sports Club headed by President Nitin Bandekar, Secretary Rakesh Unni and Treasurer Abhijeet Salkar, held the “Nautica Goa Beach Run 2014 India’s First Timed Beach Half – Marathon” at Colva. To promote fitness, bring professionals and locals to merge with a social cause Vasco Sports Club organized this fitness run with a combination of fashion

show, music, and fitness. Nautica Goa Beach Run 2014 had a route along the shoreline of South Goa beaches started at Colva beach, along the beaches of Utorda, Betalbatim, Majorda and Arrosim, all the way to Velsao and back, with more than six hundred participants some from Pune, Bangalore, Mumbai and other parts of india and abroad

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Business Goa 53


Spice studio at alila diwa

Around the Country in one meal Spice Studio takes you on a culinary tour of the country right from the comforts of the Alila Diwa Goa


ver thought of travelling around the country in one night? Seems impossible? Not quite! Spice Studio at Alila Diwa Goa takes you on a culinary voyage of exploration, from the Northern region with its rich Punjabi, Rajasthani, Kashmiri and Awadhi cuisine to the wholesome South Indian cuisine as well as Eastern influences from Assam, Bengal and Orissa and the Western Region including Maharashtrian, Gujarati and our very own Goan fare. Eager to try this multi-award winning restaurant, we set out on our culinary expedition. Set in an elegant, contemporary setting cantered on the authenticity of Indian spices, Spice Studio is located on an elevated platform that spreads naturally around a banyan tree and is surrounded by a water body. No sooner you

Prawn Curry

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walk in, you are submerged with fresh aroma of spices in the air, a gentle preview of the journey that you are about to embark upon. Our journey began with a taste of the North, with the Spice Studio Kebab Platter. A melange of the chef’s selection are a variety of kebabs, the platter had something for everyone. From tender, juicy chicken, succulent lamb and the freshest of fish and prawns, the platter transported us back in time to the days ruled by the Nawabs of Awadh and Hyderabad. The lamb patties, deserve a special mention for their delicateness of flavour. The saffron was just right. Not too little and not too much that it overpowered the lamb. Our next stop was Punjab. Inspired by the cuisine of the North West Frontier Province, the Bhatti ka Subz is a rich assortment of vegetables roasted in a tandoor.

Dhabha ka Gosht

The Goan inspired potato chops too were a treat with the creamy vegetable and cheese filling. The next stop on our culinary journey took us straight to the highways of North India, giving us a taste of their famous ‘dhabha’ food with a Dhabha ka Ghosht. Flavoursome and bursting with whole spices, this dish was a true testament to the name Spice Studio. Our journey continued Northwards with Palak Paneer. Unlike other versions of the dish I have sampled before, this was smooth, creamy and perfectly blended. Despite the Northward bound journey, we couldn’t keep away from our staple cuisine and opted for a Prawn curry and Beef Asado. The Goan cuisine I’m told by the courteous staff, is cooked by a local Goan ‘Auntie’ who has had no formal training in the kitchen and was handpicked from the village of Majorda. Everything that she knows about Goan cuisine, she has learnt at home. And it definitely showed through the dish. Warm, homely flavours of good ol’comfort food. Their Daal Makhani too is worth a

Spice Studio Kebab Platter

try. Made from urad daal in a smooth cream curry, the balance between smooth and spice was perfectly maintained. Our culinary journey across India came to an end on a sweet note. Living up to its name, the Spice Studio has developed a unique range of desserts incorporating spices. The perfect blend of spice and nice. The Star Anise and Orange ice cream paired with warm bebinca was the perfect way to end our journey. Their fennel and cashew ice cream too is definitely worth a try. From working with the freshest produce and spices to serving styles unique to each and every region of the country, every meal at Spice Studio immerses you in a rich experience of India’s culinary traditions and spice history. So what are you waiting for? With a leap in your steps and aroma on your senses take the Spice Studio culinary tour of India


Think Big Cross Borders, an initiative for SMEs to Go Global

Franklin Chagas, Amina Can, Ashutosh Kharangate and Rohit Pinto

To assist Small and Medium Enterprises (SMEs) willing to explore global markets, Mangal Advisory Services (MAS), Goa and MundiServicos, Portugal, co-hosted the seminar ‘Think Big Cross Borders’. Speakers at the event were Narayan Bandekar, President of GCCI, Atul Pai Kane, Chairman CII-Goa Councilr, Shekhar Sardesai, President GSIA and Antonio Sabido Costa, Consul General of Portugal. The strategic partnership between MAS and MundiServicos was announced at the seminar and a combined vision document of both the entities was unveiled. The Seminar highlighted the opportunities and process for SMEs to go global and also mentioned few key points to be taken into consideration while going global

Aakash Counto

Antonio Sabido da Costa

Nana Bandekar

Praveen Kakode

Atul Pai Kane

Shanu Panandikar

Nitin Dessai

Dr Suresh Dubhashi

Parvish Andani Kamat

Shawn Gracias

Rajkumar Kamat

Shekar Sardessai

Michael Lobo

Rajkumar Ghadge

Suresh Zantye’s 75th birthday celebrations Cashew king Suresh Zantye’s 75th birthday was celebrated by friends and well-wishers at his hometown, Bicholim. In a gala event which saw the who’s who of Goa brushing shoulders, guests arrived to wish the soft-spoken industrialist on his milestone birthday. Chief Minister Manohar Parrikar said that Zantye’s contribution to the cashew industry was unparalleled. Chairman of Dempo Group of Companies, Shrinivas Dempo extolled that a successful businessman can also be a down to earth and humble individual as shown to us by Suresh Zantye. Other dignitaries who graced the occasion included Dilip Salgaocar of Geno Pharma, Naresh Sawal, MLA from Bicholim, Vishwasrao Dempo among others

Shrinivas Dempo

Dilip Salgaocar

Pravin Zantye

Vishwasrao Dempo

Siddharth Zantye

Naresh Sawal

Madhavi Bandekar Shetye

Vishnu Tarcar

Jayprakash Dempo

Rajesh Dempo

Shivanand Naik

Paresh Sawardekar

Mahesh Pai

Adv. Ramesh Sardessai

Dr. Shekhar Salkar

Umesh Zantye

Dr. Guruprasad Kapdi

Prasad Pawar

Yogesh Kulkarni

Suresh Zantye Manohar Parrikar

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CII Yi holds Annual Day Young Indians Goa Chapter, an integral part of CII (Confederation of Indian Industry) announced its new team for the Year 2014-15 at their Annual Session. On the occasion, Rajesh Salgaonker was nominated for the position of Chair of Yi Goa Chapter and Narainrao (Nitin) Desai, Co-Chair for the year 2014-15. Speaking at the occasion was Erle Britto, Darshan Mutha, Kirit Maganlal, Nandini Vaidyanathan, Dr. Sunil Rai and Dr. Satish Shetye

Darshan Mutha

Dr. Satish Shetye

Kirit Maganlal

Glenda Britto

Nitin Kenkre

Dr. Sunil Rai

Rupesh Gauns

Rajesh Salgaonker

Geetika Goyal

Erle Britto

Jeet Tolani

Mihir Kakodkar

Tanvi Doshi Sawant

Shweta Desai

Atreya Sawant

Anil Powar

Anil Kher

Ashish Prabhu Verlekar

Aniruddha Dempo

Seenu Kurien

Nikhil Lawande

Lalit Saraswat

Nagraj Honnekeri

Rohit Zantye

K D Bhat

Prita Salgaonker

Cecil Pinto

Aneeha Rajan

Vishwanath Dangi

Nandini Vaidyanathan

Get Set For Goa’s Biggest Awards Show

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Business Goa 57

NEWSMAKERS Shekhar Mital is new CMD of GSL

R. Adm (Retd.) Shekhar Mital NM has assumed charge as Chairman and Managing Director of Goa Shipyard Ltd. recently. He is B.Tech, M.Tech from IIT, Kharagpur and M.Phil in Defence Studies from Naval Defence College, New Delhi. The various senior positions that he has held in his long and distinguished career with the Indian Navy, have provided, R. Adm Mital with a deep and well rounded understanding of the very many facets of shipbuilding. This has been further aided by the practical ground realities of sea faring, garnered in nine years of sea experience in frontline warships of the Indian Navy, which include Taragiri, Rana, Ranvijay, Commissioning Electrical Officer of Delhi and Fleet Electrical Officer of the Western Fleet. As part of the DND (SSG), he has led design, construction and delivery of two major frigates for the Navy

Kishore Shah and son Aumkar to launch their books together Kishore Shah along with his son Aumkar Shah will launch their books “364 days of Transformation” and “The Magical Newspaper and other Stories,” respectively. They also plan on launching the books in other cities of India and Dubai. Kishore Shah’s book gives process insights for reinventing self and organization utilizing all the balance 364 days! It is based on the theory of “Process work” and fundamentals of life and nature. Each chapter has a “list of actionable things/experiments” the reader can try out. Whereas Aumkar’s book glorifies the good old days of the newspapers. He says, “There were times when newspapers would report the good things and inspire people. He aims to bring back the old glory to the newspapers. The book also consists of other stories such as science fiction, imagination, creativity and innovation”

Yogesh Pai and Naveen Kumar win GIM’s WizBiz 2014 Nolan Mascarenhas conferred the WizBiz 2014, the flagship event REX Karmaveer Global Fellowship of Goa Institute of Management which was organised by MECCA – the Marketing Club of GIM, WIZBIZ was a resounding success with enthusiastic participation, challenging rounds and exciting prizes won by the participants and audience alike. Conducted by quizmaster; Avinash Mudaliar, WizBiz witnessed participation from Tata Capital, Chennai Silks, Genpact, Savoir Faire Media, Capgemini, Canara Bank, IBM, Viacom 18 and many others. Only the top six teams made it to the finals and after three rounds of fierce battle of intellect, Yogesh Pai (Chennai Silk) and Naveen Kumar (Sai Mitra Construction) emerged as winners of WizBiz 2014, taking home prize money worth Rs. 70,000. The 1st Runners up were Rohan Khanna (Genpact) and Amit Pandeya (Questa Software) won a cash prize of Rs. 40,000. Ameya Mardolkar (Splash communications) and Parind Phadte (Creative Capsule Infotech) were the 2nd Runners up

Nolan Mascarenhas received a fellowship and Karmaveer Chakra for his commendable work for the society. He received the fellowship in New Delhi at the exclusive awards function which was a part of “iCONGO’s REX Conclave. The whole idea of the Fellowship is to recognize people who have the courage of conviction to think differently and walk the path less trodden and to act on alternative/ innovative ideas which may make a difference in our world. Nolan Mascarenhas holds a double master’s degree holder in English literature and Business administration from the prestigious JBIMS, Mumbai and currently in pursuit of his PhD. He is an avid photographer who uses the power of his lens to convey document and express moments as a vessel to raise money for causes close to his heart


Prahlad and Sabreen Sukhtankar open The Black Sheep Bistro The Black Sheep Bistro, recently opened by Prahlad and Sabreen Sukhtankar is one of the city’s premier modern and social restaurants, delivering delicious cuisine, great wines and innovative cocktails in a fun and welcoming atmosphere for its guests. The BSB serves “globally inspired” cuisine made with high quality, locally sourced, seasonal produce. The lounge serves innovative, hand-crafted cocktails made from the freshest seasonal ingredients. It also features exclusive wines, spirits and beer lists hand-picked by the Managing Partner and Sommelier, Prahlad Sukhtankar. “We try and source our produce, including seafood within 100 miles from the restaurant. It is healthier, fresher and a much better option than imported fish or vegetables, that have had to travel several days to get to your plate also sourcing local ingredients empowers our guests to support local farmers and helps us work towards increased sustainability of our rivers, seas and farmlands,” says a passionate owner, Prahlad 58 Business Goa

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1. “Inspire the Next” is the advertising punchline of which white goods manufacturer? 2. Blender’s Pride is a brand of spirits from which alcohol maker? 3. Chanda Kochhar is the MD and CEO of which Indian bank? 4. Which social media messenger service was acquired by Facebook for 19 billion US$? 5. The Golden Lion is the top prize at which global advertising awards (name of the city)? 6. Identify this artist/businessman

Answers to BG Quiz 56 1.Snickers 2.Puma 3.Air India Maharajah 4.Kurl On 5.Omni 6.Anil Ambani 7.Satya Nadella

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

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March 2014 issue check out the best of business in Goa

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