Military to Management Col Sudhir Naphad fROM THE BATTLEFIELD TO COUNSELLING Volume 3, Issue No. 06 / Pages 68 / www.corporatecitizen.in
June 1-15, 2017 / `50
Corporate Stalwart
It’s a Beautiful World Shahnaz Husain on her life story and beauty tips for corporate citizens
WOMAN POWER
Amruta Fadnavis, Associate VP, Axis Bank and First Lady of Maharashtra on her dual role
CII Summit 2017
Rajiv Dube, Director, Aditya Birla Group, on digital marketing
Perspective
Career opportunities in the telecom sector
2 / Corporate Citizen / June 1-15, 2017
June 1-15, 2017 / Corporate Citizen / 67
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Guest Talk / Sam Pitroda
EditorIn-Chief’s Choice
Dr (Col) A Balasubramanian
Pics: Shantanu Relekar
When the radio came for the first time in our house, the only thing you could listen to was radio static as there was no reception. As kids, we found joy even listening to this static whistle
This is the best time in the history of mankind
I
want to take you through a journey through technology. I was born in 1942, almost 75 years ago, in a small tribal village called Titilagarh in Odisha. My parents were educated till the 4th standard only. In our village, there was nothing. No schools, no hospitals and no doctors. My father had migrated from Gujarat to Odisha in search of work. My mother delivered eight kids without any medical assistance. Fortunately, all the kids turned out to be mentally and physically healthy. As a kid growing up in that village, I could never imagine that one day I would see the technological advancements that are present today. In those days, we used to journey in bullock carts. The train was considered a miraculous advancement in that era. I still remember the look of wide-eyed wonderment on my face when I first saw a train. When electricity finally arrived in my village, I had already left Odisha for Gujarat. There I saw the wonders electricity could do for humanity. While growing up we used lanterns at night. The electric bulb felt no less than magic when I first saw it. When the radio came for the first time in our house, the only thing
you could listen to was radio static, as there was no reception. As kids, we found joy even listening to this static whistle. Later we got an antenna and then we could listen to the radio. It still feels surreal, thinking of the first time I heard a voice on the radio. These experiences started my fascination with Physics, and I studied physics as opposed to the more conventional engineering. I always liked mathematics. One fine day, I read in the newspaper that US President John F Kennedy has decided to send man on the moon. I couldn’t believe it. I read this and decided in my youthful naivety that I must go to the US for higher education. I had no money or means to go there. I begged and borrowed money from acquaintances and took a boat from Mumbai which went from Karachi to Aden, from the Suez Canal to Naples and then onto Geneva. I took a train from Geneva to London, and then took a plane from London to New York, and then a bus from New York to Chicago. I reached there in the cold winter in 1964. This was the first time I saw snow in my life, and the experience was enthralling. One of the first things I noticed upon reaching there was doorknobs. I had June 1-15, 2017 / Corporate Citizen / 3
Guest Talk
Once on a trip to India, I tried to make a call to my wife from New Delhi, but the call couldn’t get through. I got irritated and arrogantly thought I would solve this. I met Indira Gandhi and told her that I would fix India’s telecom problem. If I had known the challenges I would face then, I wouldn’t have been so eager. Not knowing something can be an advantage sometimes
never seen one before. I had seen only latches on doors in India. The doorknob seemed like cutting edge innovation to me. In fact, every simple thing I saw there was an innovation to me; mailboxes, cars and telephones. I had never made a telephone call in my life. In those days, there were very few telephones in India and those who did have one, were too rich to be my friends, so calling anyone was out of the question. When I saw the first phone in the US, I felt like a kid with a new toy. I felt the same on seeing a television set. As a technician, I knew how to design one, but had never seen one in person before. This curiosity of a little boy from India grew tenfold once I got to America. Everywhere I looked, I saw an opportunity to invent. Technology is all about problem solving. A lot of people think it is exotic, fancy, urban, elitist and sexy. But at its heart, technology is simple. It is about identifying a problem and solving it. Unfortunately, almost all important technologies in the last 50 years have come from the USA. When I say this to my friends from Japan, Europe, or India, they feel offended. But it is true. There have been only a handful of breakthrough inventions in the last century. The transistor, invented in 1947, TVs, phones, and many more. DNA, which led to biotech and genetic research, was also discovered there. The transistor fixed our exterior problems.
4 / Corporate Citizen / June 1-15, 2017
DNA helped heal us internally. All these inventions came from the West. I went to the USA to get a PhD in Physics. I found out it took seven years to get a doctorate in that subject. I went to my professors and told them I have a girlfriend in India and I don't think I can spare seven years. What could I get in one year? They recommended that I go for a degree in electrical engineering. I got the degree in nine months, and I got a job in Telecom. I didn’t know what telecom meant then. Ignorance is a great asset. Never let it go. Too much knowledge is scary sometimes. Once on a trip to India 15 years later, I tried to make a call to my wife from New Delhi, but the call couldn't get through. I got irritated and arrogantly thought I would solve this. I met Indira Gandhi and told her that I would fix India's telecom problem. If I had known the challenges I would face then, I wouldn't have been so eager. Not knowing something can be an advantage sometimes. The best thing was that, this task gave me purpose. I had made a fair bit of money by then and money didn't interest me. I grew up in a Gandhian environment. I went to a Gandhian school and Bapu was a role model while growing up. All over the world, the best minds are trying to solve the problems of the rich who don't have so many problems
to solve anyway. No one is bothered about the problems of the poor. The problems of the poor are very complex. I started my journey on Telecom in India. I worked with Rajiv Gandhi for a decade and that was the best time of my life. When we talk about Digital India today, everyone thinks it’s a new idea, but it started in the Rajiv Gandhi era. The formation of the National Informatics Centre (NIC) was the digital revolution of those days. Collecting data for every district was a new thing then. Today people think of Polio as an extinct disease, but I know the hard work that went into producing the Polio vaccine in India. I went to Russia and France to get the technology and Rajiv Gandhi agreed to invest $300 Million into the project. It took us 25 years of hard work for us to finally eradicate Polio. When people say nothing happened in India over the last 60 years, they have no idea. When we gained independence, we had nothing. We were robbed by our masters. Our founding fathers had the vision to build laboratories, agriculture research, IITs and IIMs. They had the foresight to build institutions. Things don't happen overnight. We wouldn’t have been the superpower that we are today without those institutions. Unfortunately, people don’t' remember these things. If Rajiv Gandhi were alive today, India would be a lot more different. I have always said that the challenge is to lift 40 crore
people out of poverty in India, not to create more billionaires. American democracy is based on consumption and capitalism. Indian democracy is the great equaliser. The challenge is to use technology for the greater good. When I started in Telecom in India, there were 20 lakh telephone connections and there was a 15 year waiting period to get a new connection. Today, in a short span of 25 years, we have one billion connections and everyone is connected. I get too much credit for this. In reality, I was merely an instrument to achieve this change. It took coordinated efforts and serious political will of Rajiv Gandhi to achieve this result. After independence, the world thought India would not be able to feed herself; that India was a basket case. Today, India not only feeds 1.2 billion people but we have surplus food. Unfortunately 20 crore people still go hungry, but the reasons for that are not shortage of food. The reason is that we haven't used technology and logistics to get that food to the ones who need it the most. Recently, in Bengaluru I visited a laboratory where in a government funded lab, people are growing skin. If your hand is burnt, they can help you regenerate skin using genetic research. This is the real achievement of India. It is not cricket, Bollywood, or social media, which drives India. It is what goes on in these labs which will create a new India. It is the progress at ISRO (Indian Space Research Organisation) which will define India. The sad reality is that those people will never be recognised or get the credit for their work. India’s real achievement is the sacrifice these people make for their country. For the first time in the history of mankind, the world is connected through technology. What does this connectivity means? No one understands. Mankind is connected but people aren’t celebrating it. Today, when I see the world turning towards populism and protectionism, including in India, I see this as a knee jerk to change. They feel threatened, and they use patriotism as prejudice. Technology doesn’t differentiate. Ideas are borderless. It is fear that stops us from embracing this. We need to overcome this fear. This is the best time in the history of mankind to be alive; we just need to open up to the idea of being connected to everyone else. (Satyanarayan Gangaram (Sam) Pitroda, globally renowned Telecom engineer, entrepreneur and the man behind India’s Communication Revolution, talks about Technology and its role in connecting the world at the recently held Maxell awards in Pune).
Technology doesn’t differentiate. Ideas are borderless. It is fear that stops us from embracing this. We need to overcome this fear. This is the best time in the history of mankind to be alive; we just need to open up to the idea of being connected to everyone else
June 1-15, 2017 / Corporate Citizen / 5
Contents 18
Cover story
Corporate Stalwarts 2
It’s a Beautiful World Shahnaz Husain, pioneer and leader of the Ayurveda beauty movement and the Founder, Chairperson and MD, Shahnaz Husain Group of Companies, shares her story of how she empowered herself and gives tips on how to be and remain beautiful
09 COLLYWOOD
Chatpata Chatter from the Corporate World 13 MANAGE MONEY
Dr Anil Lamba on why we must pay Income Tax 14 WAX ELOQUENT Who said what and why... 16 THE TAX MAN COMETH SK Jha, former Chief Commissioner of Income Tax on India’s construction sector and the objectives of Real Estate Regulation Act, 2016 6 / Corporate Citizen / June 1-15, 2017
Volume 3 Issue No. 06 June 1-15, 2017 www.corporatecitizen.in
26 CII SUMMIT Keynote address by Rajiv Dube, Director, Aditya Birla Group, on digital marketing 30 MILITARY TO MANAGEMENT War veteran and retired artillery officer Col Sudhir Naphad on importance of good mental health and his mission founding Paramheet, a voluntary organisation dedicated to counselling, psychotherapy and mental health 35 BEYOND THE BOTTOMLINE Silence is about the silence within
40
14
36
36 CAREERS IN TELECOM Prasad Routray, VP & Business Head, Airtel Business-Mumbai Region, on careers in telecom sector 40 FRANKLY SPEAKING Amruta Fadnavis, Associate VP, Axis Bank and First Lady of Maharashtra on what it is to be a working woman along with playing the role of first lady
30
43 FROM THE WALL Dr Vivek Murthy, on the lessons he learnt as the 19th Surgeon General of USA in 2014 44 ALL ABOARD ABROAD Deepti Gujar travels back in time and recapitulates her memories of Switzerland
26 44
46 CAMPUS EXPERIENCE Princeton graduate student, Sarthak Parikh talks about his early exposure to research, teaching methods and lot more 48 LOVED AND MARRIED TOO Young corporate couple, Charu and Nishant Sharma on the importance of flexibility, prioritizing and planning—to keep it all together
46
48 June 1-15, 2017 / Corporate Citizen / 7
contents
54 Editor-In-Chief Dr (Col.) A. Balasubramanian Consulting Editor Vinita Deshmukh Assistant Editor Prasannakumar Keskar Senior Business Writer Rajesh Rao
50 SURVEY Leading professional services network Grand Thorton, Startup India survey on how startups work and India’s ranking
Senior Sub-Editor Neeraj Varty Sub-Editor Vineet Kapshikar Writers Delhi Bureau Pradeep Mathur / Sharmila Chand
54 HEALTH Meghana Narayan and Shauravi Malik, co-founders, Slurrp Farm, speak on food and health 56 PEARLS OF WISDOM Dada J P Vaswani, on how wellness encompasses all the major areas of our life 58 BOLLYWOOD BIZ We take a look at the history making run of the biggest blockbuster - Baahubali 2
Bengaluru Bureau Sangeeta Ghosh Dastidar
58
54
60 MOBILE APPS Best apps to live stream your favourite content 66 LAST WORD Tenets that can open up the path to innovation and success
Be A Corporate Citizen
How do you like this issue of Corporate Citizen - The Cool Side of Business? Send in your views, news, suggestions and contributions to corporatecitizenwriters@gmail.com. We would love to hear from you! 8 / Corporate Citizen / June 1-15, 2017
Pune Bureau Joe Williams / Suchismita Pai / Kalyani Sardesai / Namrata Gulati Sapra Manager Circulation Mansha Viradia +91 9765387072 North : Hemant Gupta +91 9582210930 South : Asaithambi G +91 9941555389 Circulation Officer Jaywant Patil +91 9923202560 Creative Direction Kiyan Gupta / www.thepurplestroke.com Graphic Designer Shantanu Relekar On Cover Page Shahnaz Husain Photographer Yusuf Khan Website / Online Subscription www.corporatecitizen.in For Advertising, Marketing & Subscription queries Email: circulations@corporatecitizen.in (Corporate Citizen does not accept responsibility for returning unsolicited manuscripts and photographs. All unsolicited material should be accompanied by self-addressed envelopes and sufficient postage) Tel. (020) 69000677 / 69000672
collywood
People in the news
MNCs must create local opportunities: Satya Nadella
In the wake of US President Donald Trump’s ‘America First’ policy, the Microsoft’s India-born chief Satya Nadella has said that multinational companies need to give back to local communities and generate businesses for them to ensure long-term growth at a time when politicians from major countries are harping on nationalism. “Any company that just collects rent internationally will be in trouble,” said Nadella while talking at the company’s annual developer’s conference ‘Microsoft Build 2017’. The Indian-American CEO said it is important for any company’s long-term growth. “One just cannot set-up shop and give nothing back, one has to ‘create local opportunity’,” he asserted. This becomes more relevant at a time when politicians in major countries are stressing on nationalism and challenging the decades-old
globalisation trend. “Every head of state only cares about one thing: it is about their country first. In the US it is about America first, and in Britain it is about Britain first,” he said, referring to US President Donald Trump’s ‘America First’ policy. Trump has vowed to focus his foreign policy on American interests and American national security. In April, he announced a new executive order to promote his America First agenda, ordering the federal government to implement his ‘buy American, hire American’ policies. Trump also called for a review of the H-1B visa programme, saying they should never be used to replace American workers and be must given to the most skilled and highest paid applicants. Nadella emphasised companies must be able to show in terms of what they have done for that country.
Renuka Ramnath to be Chairperson of Tata Comm Renuka Ramnath, doyen of corporate finance and a private equity veteran, has been made Chairperson of Tata Communications. Renuka was independent Director since December 2014, and succeeds Subodh Bhargava whose term at Tata Communications ended recently. After a successful stint in the ICICI Group for close to two and a half decades, she set-up private equity platform Multiples in 2009. Today Multiples is a US $1 billion independent private equity platform that is backed by marquee Indian and global institutions including pension funds, sovereigns and banks.
Krishnakumar to head Coke India
T Krishnakumar, Chief Executive of Hindustan CocaCola Beverages (HCCB), will replace Venkatesh Kini, as President of Coca-Cola’s India and South West Asia unit. After being with the company for over 18 years, Kini called it quits with the company, citing personal reasons. According to the president and Chief Operating Officer, James Quincey, Coca-Cola Company is designing a new operating model to support the next stage of transformation into a growth-oriented, consumer-centred, total beverage company. Urging the need for the change, John Murphy, president of the Asia Pacific Group, The Coca-Cola Company, stated that the key components of this new model are a revitalised organisational capability and better system alignment to ensure that optimum execution multiplies in marketing plans and investment. India is CocaCola’s sixth-largest market by volume sales, and has witnessed stagnant growth in the face of steep excise duty hikes and competition from local players that undercut MNCs with low-cost products.
June 1-15, 2017 / Corporate Citizen / 9
collywood Renu Satti, the new CEO, Paytm payments bank
Online wallet major Paytm coming up with its payments bank, has a crucial change—Shinjini Kumar, the former Reserve Bank of India (RBI) executive and PricewaterhouseCoopers consultant, who was to be in the role of Chief Executive Officer (CEO) of payments bank, has stepped down. Renu Satti, Vice President, business, will take over as the CEO of the payments bank. Satti started as Manager, Human Resources, nearly a decade back in Paytm and has risen up the corporate ladder since. She has headed different teams at the firm, for online marketplace and mobile wallet. The payments bank will launch its banking services initially in Uttar Pradesh (UP) and then expand to north-east. The first branch will be coming up in Noida, UP. The first branch in north-east will be set-up in Guwahati.
Woodrow Wilson award for Chanda Kochhar With many laurels under her belt, the ICICI Bank chief Chanda Kochhar added yet another feather to her cap, as she was conferred with the prestigious Woodrow Wilson Award for Global Corporate Citizenship. In the process she becomes the first Indian woman to be given this award, which was instituted in 1998 by the prestigious Wilson Centre to felicitate individuals’ actions and accomplishments, either in their careers or through service. Kochhar, 55, has joined the elite group which includes former Indian recipients—former President and space scientist APJ Abdul Kalam and IT honcho Narayana Murthy. Kochhar said she is accepting the award on behalf of women of India and the ICICI Group. “Over the years, we have gone beyond our businesses to take up philanthropic projects in diverse areas from education to healthcare to skilling. Today, we have provided skill training free of cost in technical trades, sales and office skills, to over 1,36,000 people who are gainfully employed,” Kochhar said. Previous recipients of the award include former US Vice President Richard Cheney, US Secretary of State Rex W Tillerson as well as four former US Secretaries of State —Henry Kissinger, General (Rtd) Colin Powell, Hillary Clinton and Condoleezza Rice. “As I see the list of past recipients of this honour, I feel inspired to be counted as one among them. It is a distinguished and varied list, reflecting not only the wide range of achievements of these individuals, but also the Woodrow Wilson Centre’s commitment to recognise and honour excellence across every area of human endeavour,” Kochhar said. Kochhar began her career with the erstwhile ICICI Limited in 1984 and was elevated to the Board of Directors of ICICI Bank in 2001 and was instrumental in establishing ICICI Bank during the 1990s. She was conferred with the Padma Bhushan in 2011.
Nirmalya Kumar back to academics, joins SMU Nirmalya Kumar has returned to academia by joining the Singapore Management University (SMU). After an eventful corporate stint in India with the Tata Group, well-known Indian management thinker, Kumar, who has taught at internationally acclaimed management schools including Harvard Business School, London Business School and IMD (Switzerland), has returned to academia. He was the man Fri-
10 / Corporate Citizen / June 1-15 , 2017
day at Tata Sons’ former chairman Cyrus P Mistry’s Group Executive Council (GEC), advising the latter on matters of strategy. The Kolkata-born academician did his MBA from
the University of Illinois and his PhD in marketing from Kellogg Graduate School of Management, in the US. He will assume the position of Lee Kong Chian Professor of Marketing at the university’s business school, which is named after the same Chinese businessman and philanthropist. Concurrently, Kumar is also a distinguished Fellow at the INSEAD Emerging Markets Institute.
Kalaari Cap’s MD Kola snaps deal with Snapdeal
Kalaari Capital’s Managing Director Vani Kola has snapped her deal from the board of online marketplace Snapdeal, according to regulatory filings with the Registrar of Companies (RoC). The Bengaluru-based fund is one of the early backers of Snapdeal and holds about 8% stake in the now embattled company. Kola’s resignation from the Snapdeal board further signals the impending sale of the e-commerce firm to Flipkart and that Kalaari has agreed to a settlement with SoftBank. Kola forwarded her
papers to the board of Jasper Infotech, which runs Snapdeal, asking to be relieved of her duties as a board member immediately, the filings pointed out. Both Kalaari and Nexus Venture Partners, the two largest investors in Snapdeal after SoftBank, were at loggerheads with the Japanese group wanting a better value for the stake they own in the web retailer. The rift has delayed the sale of Snapdeal. Kola’s resignation comes at a time when Nexus too has come on board for the proposed sale.
Target’s Kapoor joins Maersk GSC as global head
Navneet Kapoor of Target India has joined Maersk Global Service Centres (GSC) as the head of its global business. Kapoor, who helped Target with its digital transformation journey, is expected to similarly lead Maersk GSC’s growth. Leading a digital transformation is becoming increasingly necessary across industries and, especially so, for Maersk GSC, which is a global captive for Maersk transport and logistics, a global leader in container shipping and ports. Maersk India officials said Kapoor replaces Soren K Brandt, who is moving back to Maersk headquarters in Copenhagen to be the new head of portfolio and projects in the transport and logistics IT organisation.
Nisaba takes charge from father Adi at Godrej Consumer It’s all a family matter, as Nisaba Godrej takes over from her father Adi Godrej as Executive Chairman of Godrej Consumer Products Ltd, according to the company. Adi will now be chairman emeritus, the company added in a statement to the stock exchanges. The elevation of Nisa, as she is fondly addressed within the company was expected, although the company had not set a time-frame for this. It marks another milestone in the larger Godrej Group’s succession plan. Adi Godrej turned 75 in April. Earlier, in February, he became chairman emeritus of Godrej Properties Ltd, with son Pirojsha Godrej, 35, taking over as Chairman. Adi Godrej remains chairman of the Godrej Group. His eldest daughter Tanya Dubash, 48, is Executive Director, Godrej Industries and also Chief Brand Officer of Godrej Group. Nisaba Godrej, an MBA from Harvard Business School joined Godrej Consumer Products in 2007. She is currently Executive Director of the company. “Nisa has been the key architect of its (GCPL’s) success and has been directly overseeing innovation,” said Managing Director and CEO Vivek Gambhir, while talking about the move, and went on to add, “She will now work very closely with the management to guide our next phase of growth.” Godrej Consumer also recommended a fourth interim dividend worth `12 per share to be paid out by 31 May 2017. This brings the total dividend paid out for the year to `15 per share. The company wasn’t hit as hard as some of its peers were by demonetisation, the government’s decision in November to invalidate old high value currency notes. Since India contributes 50% of the company’s turnover the impact of demonetisation was that much less, an analyst said, asking not to be identified. June 1-15, 2017 / Corporate Citizen / 11
collywood Taranjeet Singh Twitter Country Director Taranjeet Singh has been elevated as the Country Director for India, according to the micro blogging platform Twitter. Singh was earlier leading the charge for sales and marketing support for Twitter’s advertisers in India. In his new avatar, Singh will lead the Twitter India team by driving an integrated business strategy and spearheading cross-functional collaboration, Twitter India said in a statement. He will also focus on accelerating Twitter’s audience and revenue growth in this key growth market. India is among the world’s fastest growing social media markets. It is already among the largest markets for companies like Facebook, WhatsApp and Google. While Twitter does not give
country-specific user numbers, it counts India among its top five audience markets globally. Twitter, which allows users to engage with peers, corporates and governments using 140 characters, has over 319 million users globally. Recently, Twitter had launched a lighter version of its platform, Twitter Lite for users in India, ahead of other markets like Indonesia and the Philippines.
Chhavi Verg, 1st runner-up at Miss USA 2017
“Investing in our Indian management team now is a strong vote of confidence that we believe in the strategic importance of India and that our local business growth strategy is successful,” said Twitter Managing Director Asia Pacific Maya Hari. Before joining Twitter, Singh was sales director, South Asia for BBC Advertising. Prior to BBC, he held various positions at Outlook Publishing.
Twenty-year-old Miss New Jersey 2017 Chhavi Verg, was crowned Miss USA 2017 first runner-up, at a show held on 14 May, at the Mandalay Bay Convention Center, in Las Vegas, Nevada. Verg, was among the 49 other contestants and had won popular vote on social media, but ultimately lost the title to Miss District of Columbia Kára McCullough. Verg is a fitness freak, a certified personal trainer, and a Bharatanatyam dancer. Verg has stated earlier her parents immigrated from India to the US when she was four years old.
Whirlpool says ‘no’ to pricing game Consumer durables maker Whirlpool Corp who entered India in the late 1980s, much before South Korean companies Samsung India Electronics and LG Electronics India set foot in the market in 1995, will never be in the pricing game. Sunil D’Souza, Managing Director of Whirlpool India, said the firm will never play the pricing game, and does not want to get into unrelated product categories like its peers. It will, however, expand into a few related categories, including the premium segment as part of its plans to cross the $1 billion mark by 2020. Whirlpool formed joint ventures, acquired local companies and made itself a household name. But it could not keep pace with the competitive pricing game played by the Koreans. Its market share fell and revenue did not grow, but surprisingly, the company managed to keep its profits 12 / Corporate Citizen / June 1-15 , 2017
growing. In the past one year, the stock price of Whirlpool of India Ltd, the local arm of Michigan-based Whirlpool Corp., surged 64.4% to `1,212 from `737.20 apiece on BSE, outperforming the benchmark Sensex’s 13.68% gain. While announcing its growth in India, D’Souza said that Whirlpool Corp. is looking for growth. There is no better way to find growth than in Asia. India is a priority. The target is to cross $1 billion mark by 2020, but earlier is better. At present, Whirlpool India contributes about 3-4% to Whirlpool Corp.’s global revenue. “We are growing at a high double digit rate. The importance of India as a market is growing simply because the opportunity is
huge, because of the low penetration of consumer durables. The global headquarters is offering the right support that we need for faster growth. Indian government initiatives will help boost growth for appliance makers. Smaller towns are growing faster. By 2019, the government has planned to electrify all villages. That’s going to boost sales of appliance companies. Plus, there’s the 7th Pay Commission money, a part of which will translate into discretionary spends. This will also boost sales in smaller towns where penetration is even lower. There’s a long way to go,” he said. Compiled by Joe Williams. joe78662@gmail.com
manage money Dr Anil Lamba
Tax Planner vs Tax Evader
We must pay Income Tax. If for no other reason then, as a token of thanksgiving to a nation where we occupy the top 2-3 per cent slot, the least we can do is to pay our taxes...
T
axpayers can broadly be classified into two types: tax planners and tax evaders. Who is a tax planner? What is a tax planner trying to achieve? A tax planner is a person who is trying to arrange the affairs in such a way that the tax liability is minimised or
eliminated. What is a tax evader attempting to do? Also trying to minimise or eliminate the tax liability. The end result of the actions of both is that the government loses tax revenue. But the former is considered to be a respectable citizen and the latter a crook.
Why is that so?
The difference obviously lies in the method adopted by them.
How does a tax planner save taxes?
The income tax act provides several avenues of saving money which give tax relief. For instance section 80 C of the Income Tax Act provides that if a tax payer invests in certain specified avenues, for instance, pays life insurance premium or invests in certain Mutual Fund schemes, the tax liability can go down, subject to certain limits. How did the tax planner save tax? By saving and investing money, by taking a life insurance policy etc.
But shouldn’t any rational person be doing this anyhow?
Shouldn’t people be saving for a rainy day and protect their loved ones by insuring themselves irrespective of whether the government gives them tax deduction or not?
Is the government a net loser in this bargain?
Why does the government say that if you do something that you should be doing anyhow, we will sacrifice a certain amount of income tax?
Is the government a net loser or must it also be gaining? Obviously, it must be gaining too.
The government not only wants you to save but also wants to channelise your savings into certain specific areas. If you purchase a National Saving Certificate, the money comes to the government for 6 years; for 15 years or more if you invest in PPF account; perhaps for 20 years if you take an insurance policy from the LIC of India and so on.
What can the government do with this money?
They can further lend it through public financial institutions to industry, which in turn would lead to more employment, more production, more development, and more growth in the GDP. Some calculation must be made by the government as to what will it cost the exchequer to induce taxpayers to save in these areas (loss of tax revenue of up to 30 per cent of the amount invested), and what will be the gain to the nation. The deduction would be provided only if this cost-benefit analysis revealed a net gain to the government. What I’m trying to say is that, when a tax planner saves tax, both the tax planner and the nation are gainers. It would be misplaced patriotism for a person to say, “I am a patriot, I don’t want my country to lose any taxes, therefore I am not going to save a single rupee and pay the full taxes.” It is a moot point whether this person has done a service or a disservice to the nation.
How does a tax evader save taxes?
The modus operandi adopted by a tax evader not to pay taxes is merely to stay quiet and not reveal the income earned. In my opinion, the very fact that a tax evader does not pay taxes is a minor crime. (Even the tax planner did not pay taxes). But this minor crime necessarily leads to a major crime. (to be continued) Dr Anil Lamba is a practising chartered accountant, financial literacy activist and an international corporate trainer. He is the author of the bestselling book ‘Romancing the Balance Sheet’. He can be contacted at anil@lamconschool.com June 1-15, 2017 / Corporate Citizen / 13
wax eloquent
India is the real story
Take a look at what our corporate leaders have to say about recent trends and their experiences in the business world All is well that ends well
“It has taken 70 years for India to become a single national economy. With GST, costs would be lowered. Now, none of these will show immediately as a large chunk in GNP but over time, the economy will get more efficient. The EU created a single market in a shorter time but all is well that ends well.”
Empower people with technology
“To me, the choice that we developers make have profound consequences. I believe we can make these practical design choices that help to enshrine our timeless values. We should empower people with technology…Let’s amplify their capabilities.”
Lord Meghnad Desai,
emeritus professor of economics at London School of Economics), Courtesy: Economics Times
Satya Nadella, chief
executive officer, Microsoft
Courtesy: www.financialexpress.com
Being heart of the business “It is important to really be a part of the business and heart of the business so that people take you along, and treat you as somebody who is (their) problem solver not (their) problem creator. There are companies which will still consider the legal team as the cost centre but it is up to the General Counsel to move up from being a cost centre to a business supporter.” Sameer Chugh, GC (director legal), Bharti Airtel, Courtesy: http://www.legallyindia.com
Combining hard and soft power effectively Low pricing in India
“India might be the most challenging market yet for Ikea. But that’s good for us. Whatever we learn from here, we will take to China, Russia, Europe, new markets. Specially on low pricing in India, if we reach a price in India, we will reach it everywhere. For us, it’s change driver internally.”
Hard power without soft power is bullying, but then soft power alone at the end of the day is a weak force. However, if you can combine both the powers effectively then you have that self vigour, and this is where the Chinese are doing a better job at the moment.” Shashi Tharoor, Senior Congress leader Courtesy: http://economictimes.indiatimes.com
Potential to leverage technology
Henrik Elm, global purchase
“We are able to solve problems in manufacturing that were 15-20 years old, and which nobody could solve. We are able to design products, which no one thought we were able to design. We are able to fix things before they actually break. We are able to predict outcomes and problems before they are actually known.”
Courtesy: www.economictimes.com
Courtesy: http://www.livemint.com
development manager, Ikea
14 / Corporate Citizen / June 1-15, 2017
Noshir Kaka, senior partner, McKinsey and Co, Mumbai
The most attractive market
“The most attractive market we see in emerging markets is India. India, quietly, grows at 6%, 7% a year. There are great companies to invest in, and then in the bond markets, the dollar-denominated government bonds compare very favourably with developed market bonds. India is the real story in terms of growth globally at the moment.” Martin Gilbert, cofounder and CEO, Aberdeen Asset Management Courtesy: http://www.businessinsider.in
India’s got a terrific future
Staying resilient in times of change
“We need to be very agile to keep up with the revolutionary changes. A company of our size and scale has a 93–year–old body. But if we can think like a 16-year-old mind, apply the wisdom of a 60-year-old, have a 30-year-old heart and exude the spirit of a 19-year-old; then we can stay resilient in times of change.”
“India’s future place in the world is huge; it is enormous. Market is one thing, but beyond that you can’t have a billion people and not be important in this world. The better the things develop in India, the better it is for United States. There is so much opportunity in the world and there’s so much brainpower in India. India’s got a terrific future.”
Technology expands jobs
“With technology changing so fast, we may not have traditional factories. We will, however, be marketing all kinds of services like babysitting and catering. Cyber security will become big business. There is no limit to human ingenuity. I don’t see jobs going away. Technology expands jobs. Automation makes things cheaper to produce. So why is it a calamity?”
Warren Buffett,
American business magnate, investor, and philanthropist Courtesy: Times of India
Sanjay Behl, CEO, Raymond
Courtesy:Courtesy: http://cio. economictimes.indiatimes.com
Indian startups + Chinese Jugaad
Sridhar Vembu, co-founder
“Being patient is the key word for investing in India. The final dream comes true via a new model for startups to bloom: Indian startups + Chinese Jugaad. The main challenge lies in identifying good startups and figuring out a fair deal since most startups here are overfunded. One has to understand the limitations of each business vertical keeping in view that (poor) infrastructure is a constraint.”
and CEO, Zoho
Courtesy: www.financialexpress.com
Jason Wang, Chinese entrepreneur and founder, ZDream Ventures,
Gurgaon
Courtesy: www.economictimes.com
Life and time are two important teachers
Failure is a friend
“We tread the path we choose but life changes gears. In the last five years, I have seen success as well as failure. My first movie did phenomenally well; the next film was okay and third one was a flop. Success is a lousy teacher but failure is a friend, philosopher and guide.” Ayushmann Khurrana, actor,
Courtesy: Indian Express
“The simple discipline for startup is: make it well documented. Life and time are two important teachers. I think everything should be very well-documented— even if it is your family. Keep it simple but don’t let things be taken for granted. Be very honest and protect your rights, but in an unbiased and balanced way.” Ashok Maheshwari, entrepreneur Courtesy: Economic Times
Startup scenario has become much more intelligent “The startup scenario has become much more intelligent. Now, people understand that the money would not just follow you. There has to be a reason, there has to be a hard business purpose. I think our startups will be much stronger. We do not lack in intelligence and good and sustainable ideas. This has separated chaff from the wheat.”
Shobana Kamineni, executive vice chairperson, Apollo Hospitals Enterprise Ltd and president, Confederation of Indian Industry (CII) for 2017-18, Courtesy: http://indianexpress.com
India best equity story in emerging markets
“India is the most preferred equity story in the emerging markets universe on a 10 year view. The rest of Indian story under the extraordinary Modi remains as vibrant as ever.” Christopher Wood, MD and equity strategist, CLSA
Courtesy: Business Standard
Compiled by Rajesh Rao rajeshrao.rao@gmail.com
June 1-15, 2017 / Corporate Citizen / 15
The Tax Man Cometh
Construction in for Correction!
by S K Jha
(IRS (retd) and former Chief Commissioner of Income Tax)
The construction and real estate sector, though critical for the economy, has been beset with rampant wrongdoings and murky dealings. Of recent, there have been attempts to regulate the sector, the Real Estate Regulation Act being the most notable and most recent. Is that enough to clean up the sector?
Unlike the regular tax desk which is manned by a tax officer whose job is to levy tax on you, this desk is manned by a non-serving tax officer who wishes to share his experience of 35 years in the tax department, while, discussing tax provisions. It is advantageous to know how the tax department thinks and acts when, as said by Benjamin Franklin, “In this world nothing is certain except death and taxes�
T
he construction sector is an important sector for any country, but for India, it is a sector of prime importance. This sector has grown in good health to provide homes to a major part of our population. But there are plenty who are still either homeless or living in highly unhygienic conditions. Even today, this sector is the second biggest employer after agriculture and it contributes to about 6% of our GDP. But all is not well with this sector. This sector has been perceived as doing all the wrong things.
Promises unfulfilled
Developers are seen cheating buyers on many counts. They do not give possession of the purchased properties to the buyers in time even after they have collected the full money. They demand additional money over and above the prices per the initial agreement, which may be tantamount to black mailing. They do not give the quality of construction initially promised. The amenities advertised to be given to the buyers or to the society are held back to enhance their own profitability. The recent decision of the Supreme Court in the case of Unitech is a testimony of this fact where the court ordered Unitech to pay interest and compensation to the flat buyers. The Economic Offences Wing of the State went further to arrest the managing director of this company for financial irregularities. The company had diverted the money received from the flat buyers to shell companies for money laundering and then for personal use. 16 / Corporate Citizen / June 1-15, 2017
The buyers suffer, as the money invested by them is normally borrowed money, where the interest keeps on getting added while the possession of their purchased property get unduly delayed. Yes, the buyers can go to court, but our legal system is slow and expensive. This situation has been continuing for some time now. The worst victims used to be a section of buyers who had paid a part as unaccounted consideration in cash as per the demand of the builders, and as per the normal practice in this sector. Even in the case of a court order, the consideration paid in cash is lost.
RERA to the rescue
In the background of this prevailing situation a new law has been passed, called the Real Estate Regulation Act, 2016, commonly known in short as RERA. This law was passed by the Parliament in March 2016 and the same became partly effective with effect from May 1, 2016 and now fully effective in all states and Union Territories with effect from 1st May 2017. Time was given to the states to prepare their own rules on the lines of the central legislation before 30th April 2017. This law is meant for the betterment of the construction sector and for the good of all its stakeholders with more emphasis on buyers. In a nutshell, the objects of RERA are: To ensure accountability towards allottees and to protect their interest. To infuse transparency, ensure fair play and reduce fraud and delays. To introduce professionalism and pan-India standardisation. To establish symmetry of information between promoters and allottees. To impose certain responsibilities on both promoter and allottees. To establish a regulatory oversight mechanism to enforce contracts. To establish a fast track dispute resolution mechanism. To provide good governance in the sector, which in turn would create confidence. The important take away from this legisla-
tion is that this sector, which was headless so far, will get a Regulator in each state. Projects including those under construction will have to get registered with the regulator with complete details about the projects, like the nature of the project, its source of finance, completion dates, etc. The Regulator will give a web page on its site to promoters about each registered project wherein it will be mandatory for the promoters to feed details about the project. This page will be accessible to the public so that they can have all information about the project before they decide to invest in a particular project.
Cutting out delays
There are six important provisions under RERA that may prevent builders from delaying the projects: Along with the related sale document, the builders will have to give a written affidavit to the buyers listing his promises. This will strengthen the legal standing of the buyers against the builder. The possession date will be sacrosanct and the same has to be clearly spelt out in the sale agreement. An interest clause in the case of default by the builder will also find a place in the sale agreement. The project has to be built on clear title land. The project has to be free from encumbrances. A separate bank account has to be maintained for each project by the builder, where 70% of the money received from the buyers has to be deposited. Withdrawal from this
“Developers are seen cheating buyers on many counts. They do not give possession of the purchased properties to the buyers in time even after they have collected the full money. They demand additional money over and above the prices as per the initial agreement which may be tantamount to black mailing. They do not give the quality of construction initially promised�
bank account should be to the extent of work completed, as certified by the architect and chartered accountant. This account will be subject to audit every six months. Violation of promise made by the builder will be considered an offence, which may attract imprisonment up to three years or fine up to 10% of the cost of the project or both. RERA also prescribes the scheme of payment of interest in the case of delay in giving possession at the same rate at which the builder will claim from the buyers in the case of default on their side. There will be a state Adjudicating Authority which will hear the cases of disputes and which may also award
compensation based on the facts of each case. Buyers are advised to make purchases only from registered projects. All projects will have to be registered before 31st July 2017 as a three month window period has been given for the builders to comply. Small projects of less than 500 sq metres of eight flats may escape registration. To a large extent people will benefit from RERA as even the quality of construction and the conduct of builders in transferring the constructed project to the housing society of buyers have been considered.
Making housing more affordable
Another legislation benefit passed on to the
construction sector is the insertion of section 80IBA in the income Tax Act by the Finance Act, 2016, and modified by the Finance Act, 2017. This provision has been added to promote affordable housing, and the profits from such projects are tax free, subject to some conditions. The objective behind this new provision is to make housing more affordable for the middle class, lower middle class and the poor. Under this provision, the project should be on a plot not less than 1000 sq metres located within metropolitan cities or within 25 kms (measured aerially) from these cities. In case of cities other than metropolitian cities, the project should be on plots not less than 2000 sq metres. To qualify as affordable housing, June 1-15, 2017 / Corporate Citizen / 17
The Tax Man Cometh
the carpet area of the apartment should not be more than 30 sq metres. It is a well known fact that the profit margin in luxurious apartments is much higher than in the case of small flats, and hence builders do not construct small or affordable apartments. The price of urban property is very high, and the poor cannot afford to buy, and this is the reason for the rise in slum clusters. To some extent, this problem can be eased by the new legislation under 80IBA. The concept of affordable housing is further supported by
big problem is the price of apartments in cities. It is difficult for the middle class to buy a modest flat in big cities, despite the availability of bank loans. In a city like Mumbai, the price tag of even a small flat is always in crores. Builders say that since the land is very expensive, the cost of a flat has to be high. The second big problem is the investment in properties by speculators which keeps the price of flats high, so the real buyers suffer. The construction sector is a wellknown destination of black money and this is also the reason for the high price of flats. There
“The construction sector is a well known destination of black money and this is also the reason for the high price of flats. There are builders who take part of the consideration in unaccounted cash over and above the price mentioned in the sale agreement. Land is the biggest sucker of unaccounted money where the black money component accounts for roughly 80% of the consideration� the administrative direction announced by the Prime Minister on 31st December 2016, of subsidizing the interest burden on small loans for housing. The subsidy will be 4% and 3% of interest on loans amounting up to nine lakhs or 12 lakhs respectively for small income people. In addition, under section 24 of the Income Tax Act, the provision for deduction of interest up to `2 lakhs against income from house property continues. In case of self-occupied property when there is no income, the deduction of interest up to `2 lakhs will give rise to a negative figure which will be available to set off from the other income of the house owner, thus reducing his tax liability. The construction sector has attracted the attention of both the Executive and the Legislature, and legislations have been promulgated along with administrative orders to solve its problems. But it still has a long way to go. One 18 / Corporate Citizen / June 1-15, 2017
are builders who take part of the consideration in unaccounted cash over and above the price mentioned in the sale agreement. Land is the biggest sucker of unaccounted money where the black money component accounts for roughly 80% of the consideration, on average. The construction sector and the real buyers will suffer as long as black money remains an active component. There are provisions in the Income Tax Act, which requires that the transactions should be based on the Ready Reckoner price but the system has failed so far. The government has brought the Benami Property Act and this has to be vigorously pursued to plug the usage of black money in transactions under fictitious names. Another reason for the high price of flats is the ever increasing demand due to our increasing population and rapid urbanisation. People are migrating to cities from rural areas
in search of jobs and this adds to the demand for dwelling units. If jobs are created in the rural areas or in their vicinity, there will be less migration and pressure on houses in cities will also get reduced. A balance in demand and supply of apartments in cities will control the price automatically. There is also a problem of unauthorised construction by some unscrupulous builders where there is no check on the construction quality and there are many instances where such buildings have collapsed, killing people. These constructions attract buyers as they quote less than the market price. To cut down on cost and increase profit, some builders do not spend on safety mechanisms during construction and thus expose the construction labourers to accidents, which are fatal many a times. We all need to contribute if we want this sector to come out of its problems. Legislations and administrative actions are good moves, but they are not enough. We should decide not to participate in the malpractices. We should decide not to pay on-money over the agreement price. We should keep a vigil on the quality of ongoing construction, where we have booked our home. We should not hesitate to fill online complaints to the Regulator under RERA. We should do our duty and then fight for our rights for our sweet homes. CC
tadka
India has 3rd highest number of startup incubators in the world India now has 140 startup incubators, ahead of Israel’s 130, making it the country with third highest number of incubators in the world, as per a report by IT industry body Nasscom and consulting firm Zinnov. China and the US have the highest numbers. The US has more than 1,500 incubators/accelerators.
From My Wall
nation tackle its biggest health challenges, I will be forever grateful for the opportunity to have served. The role of the Surgeon General is traditionally to share wisdom with others, but it was I who learned so much by listening to your stories in town halls and living rooms. In a remote fishing village in Alaska, a church in Alabama, an American Indian reservation in Oklahoma, a school in Virginia, and in so many other places, I watched the grit and grace with which our fellow Americans live their lives.
Here are some of those lessons, which I will keep with me:
The lesson I learnt as
Surgeon General of the USA
Dr Vivek Murthy whose parents originally hail from Hallegere village in Mandya taluka of Karnataka, was appointed as the 19th Surgeon General of USA in 2014. Dr Murthy posts his feelings on the Facebook, a few hours after he completed his tenure, last month
I
n 2014, I was honoured to be sworn in as the 19th Surgeon General of the United States. For the grandson of a poor farmer from India to be asked by the President to look out for the health of an entire nation was a humbling and uniquely American story. I will always be grateful to our country for welcoming my immigrant family nearly 40 years ago and giving me this opportunity to serve. During my tenure, I was blessed to have an extraordinary team of dedicated public servants who became my colleagues and friends. I was also fortunate to find thousands of dedicated partners in the community from schools and hospitals to faith groups and mayors. Together, we called our country to action to address the addiction crisis in America through the nation’s first Surgeon General’s Report on Alcohol, Drugs, and Health and by urging more prevention, treatment, and humanity in our approach to this chronic illness. We sent letters to millions of health care professionals urging them to join our campaign to Turn the Tide on the opioid epidemic. We issued
a report on e-cigarettes and youth, launched a national effort to get Americans walking, and started a community conversation on food insecurity. We partnered with Elmo, the cast of Mom, and Top Chef to inform the country about vaccines, addiction, and healthy eating. And we worked with thousands of Commissioned Corps officers to protect our nation from Ebola and Zika and to respond to the Flint water crisis, major hurricanes, and frequent health care shortages in rural communities... ...It is important to know that the 6,600 officers in the US Public Health Service Commissioned Corps are one of our nation's greatest assets. Each and every day, our officers wake up ready to serve their country in over 800 locations, responding to natural disasters, countering disease outbreaks, and advancing prevention and treatment in communities. During the last few years, the Corps became my family. I will always remember their dedication and the warmth with which they welcomed me... ...While I had hoped to do more to help our
➊ Kindness is more than a virtue. It is a source of strength. If we teach our children to be kind and remind each other of the same, we can live from a place of strength, not fear. I have seen this strength manifest every day in the words and actions of people all across our great nation. It is what gives me hope that we can heal during challenging times. ➋ We will be successful in addressing addiction and other illnesses when we recognise the humanity within each of us... All of us are more than our worst mistakes. We must ensure our nation always reflects a fundamental value: every life matters. ➌ Healing happens when we are able to truly talk to and connect with each other. That means listening and understanding. It means assuming good, not the worst. It means pausing before we judge... ➍ The world is locked in a struggle between love and fear. Choose love. Always. It is the world's oldest medicine. It is what we need to build a nation that is safe and strong for us and our children. This journey would not have been possible without my incredible family. My wife Alice is my hero. Her resilience, optimism, and love have lifted me up and helped me soar. Our baby boy has been my constant source of inspiration to help create a better world. My mother and father have given me everything and to them I owe everything. And my sister has been an enduring source of support and affection from the time I was born... ...Thank you, America, for the privilege of a lifetime. I have been truly humbled and honoured to serve as your Surgeon General... Our journey for a stronger, healthier America continues. (From (https://www.facebook.com/pg/DrVivekMurthy/photos/) June 1-15, 2017 / Corporate Citizen / 19
Corporate Stalwarts - 2
20 / Corporate Citizen / June 1-15, 2017
Corporate Stalwarts -2
Beautiful World
How do you capture the essence of a woman who has been painted by M F Husain; honoured by President Kalam with the Padma Shri; interviewed by Hollywood actor, Goldie Hawn; has been a confidante to India’s most charismatic Prime Minister, Indira Gandhi; presented the International Star Award in Paris; walked the red carpet twice at Cannes; rubbed shoulders with world celebrities including Princess Diana; was launched by Barbara Cartland at the Galleries Laffayette in Paris and Harrods in London; honoured for Outstanding Innovation at the House of Commons, British Parliament; lectured at Harvard & Oxford; invited to speak at MIT; Case Study at Harvard and now a subject; selected as the United Nations Woman of the Decade; awarded the World’s Greatest Entrepreneur by US based Success Magazine; selected Forbes Woman of the Year and made not just an entire nation, but people across the globe wake up to India’s Vedic system of medicine? Corporate Citizen touches base with Shahnaz Husain, pioneer and leader of the Ayurveda beauty movement and the Founder, Chairperson and Managing Director of the Shahnaz Husain Group of Companies. She shares her story of how she empowered herself and gives tips on how to be and remain beautiful
believe t hat I . y in t s e d in e I do not believ our own destiny. I have y you can make es and have looked at eng welcomed chall opportunities. t hem as
By Vinita Deshmukh Your name is your fame and your foray in the world of herbal beauty products is outstanding. Was it your childhood dream to be what you are today?
It is true that my name has become the brand. Shahnaz Husain is not a faceless brand name or corporate. Everyone knows that the name and face behind the brand is, herself, trained in cosmetology and cosmetic therapy. My dream was to be somebody who makes a difference. But, I had never planned it this way. As is well known, I was married at the age of 15 and was a mother by the time I was 16 years old. Life seemed perfect, but I was bored with the drudgery of endless routine. Then the mental
upheaval began. I was always interested in beauty and in making others beautiful, so I decided on beauty as a career. I was determined to get the best training possible and worked my way to the prized institutions of the West, to learn cosmetic chemistry and cosmetology, by writing articles for the Iran Tribune, as my husband was posted in Tehran at the time.
What inspired you to launch Shahnaz Beauty products? How did you start your enterprise?
During my training in London, I came across instances of damage caused by chemical substances. In a way, this changed my life
and career. It sowed the seeds of my desire to become an entrepreneur. It gave me the idea of introducing a totally new concept. I decided to evolve treatments that are safe and without risks. I was determined to find a natural alternative. The study of Ayurveda convinced me that it could provide the ideal answers to the demands of beauty care. My idea was to provide herbal beauty, based on the principle of “care and cures.” At that time, such a concept did not exist. I knew that the only way I could translate my ideas was by starting my own herbal salon and thus implement my ideas of herbal and customised beauty care. I started my herbal salon in my own home, in a very June 1-15, 2017 / Corporate Citizen / 21
Corporate Stalwarts - 2 small way. I rejected existing treatments and devised my own. I also started formulating my own products, based on Ayurveda. My independence of spirit was an inspiration in itself. I knew that I must have the freedom to implement all my ideas and this can only be done in one’s own enterprise. My innovations and creativity needed expression and the right environment to grow and flourish. This can only happen if one becomes an entrepreneur, because then the sky is the limit. I had the burning desire to create something and to establish my ideas and innovations. This was my guiding inspiration. Translating my dreams and ideas into reality inspired me to become an entrepreneur.
From a beauty boutique in Delhi to having your products worldwide, in some of the most elite shopping arcades, how did
My dream was to be somebody who makes a difference. But, I had never planned it this way. As is well known, I was married at the age of 15 and was a mother when I was 16 years old. Life seemed perfect, but I was bored with the drudgery of endless routine. Then the mental upheaval began. I was always interested in beauty and in making others beautiful, so I decided on beauty as a career you develop this amazing entrepreneurial calibre?
I may have started small, but I always think “big.” I believe that nothing is impossible. I also believed that India has a great deal to offer to the rest of the world. So, I decided to take India’s herbal heritage to every corner of the globe, by blending our ancient system of Ayurveda with advanced techniques, so that it is relevant to the modern world. Apart from establishing customized, natural beauty care, based on individual needs, I also followed unique business strategies. Even at a time, when the demand for the product is sustained through commercial advertising, I have not relied on it. Instead, I relied on “word of mouth” and the fact that a satisfied client is the best advertisement. My products grew out of clinical usage, based on massive client feedback. Initially, I did not retail my products. They were only available at our salons. My system was an integrated one where the treatments and products relied on each other. We formulated a range of therapeutic products that became popular worldwide. That is how the Shahnaz Herbal treatments became known. I extended my salons on a unique franchise system. The Shahnaz Husain franchise is at the core of the success of the brand. Today, it is a 22 / Corporate Citizen / June 1-15, 2017
successful business model, with tremendous international goodwill. All our other ventures have also extended on our franchise system, like spas, retail outlets and beauty training academies. We manufacture over 375 products for Ayurvedic beauty and health care.
Besides your products being herbal, the fragrance and packaging are very attractive. What kind of research has gone into it?
I am closely involved with innovation, Research and Development (R&D), packaging and even marketing of my products. Right from the beginning, I have been very particular about fragrances, developing them to suit our products, keeping them subtle and natural. In fact, the initial R&D was conducted by me. Since then R&D has always received high priority in the organisation. To ensure the purity of raw material, an herb and flower farm was also set-up near Delhi. Thus quality control is exercised right from the raw material stage. This is done through rigorous testing and research. The extraction of essential oils, infusions, decoctions, tinctures and other extracts is carried out by the Group itself. These are made under strict supervision, using the latest technology. Various methods
of soil culture and cultivation are being followed, using superior natural composts and fertilizers, which actually contribute, not only towards the purity and quality of the raw material, but towards actually creating a superior product. Stringent quality control tests are carried out for various dilutions. Thus, by exercising control at each stage, high quality is ensured.
Please tell us about your experience at the pre-Oscar event related to the world-renowned Academy Awards in Beverly Hills where you spoke on ‘Ayurveda, India’s ancient cosmetic science.’
I was invited to a star-studded Celebrity Event at Beverly Hills, California, USA, during the Hollywood Film Festival. I was also invited to a pre-Oscar event, which was a part of the Oscar Awards Ceremonies. I was happy that my relentless efforts have helped to increase awareness in the western world of the dangerous side effects of chemicals in the global beauty and wellness business. In my trips and speeches abroad, I have always highlighted India’s medicinal plant power and our ancient system of herbal healing. There is an ever increasing demand for holistic and organic beauty care in the West. At a time when the western world is staggering under the side effects of synthetics, I have stressed on the fact that Ayurveda is the only natural alternative. My Starlight Range was introduced to Hollywood Stars during the event. It has been specially created for film and television stars, keeping in view their professional stresses, like exposure to bright arc lights and other external aggressors. My dream is to see Ayurveda lead the international beauty industry within the next decade.
I may have started small, but I always think “big.” I believe that nothing is impossible. I also believed that India has a great deal to offer the rest of the world. So, I decided to take India’s herbal heritage to every corner of the globe, by blending our ancient system of Ayurveda with advanced techniques, so that it is relevant to the modern world. Apart from establishing customized, natural beauty care, based on individual needs, I also followed unique business strategies
You mentioned that during your visit to the Cannes Film Festival in 2013, you noticed that people were very excited for all things India has to offer. Could you elaborate?
In 2013, when I walked the red carpet at Cannes, I also attended the celebrations of 100 years of Indian Cinema at Cannes, which was also held that year. It included a formal candle-lit sit-down dinner. The Indian Tourism Minister, as well as leading stars, were present at the event. Indian cinema evokes a great deal of interest and the biggest crowds were seen during the celebration of 100 years of Indian cinema. Everybody seemed obsessed with India! Indian stars were a big attraction. While walking the red carpet, the celebrities were being asked about their dress and the designer brand. When they asked me, I said, “I am wearing a handcrafted Hyderabadi outfit; I am wearing Brand India!”
Tell us a bit about the Starlight Range of your formulations for film and television stars.
The Starlight Range for beauty care was formulated, keeping film and televisions stars and their occupational stresses in mind. Film stars have to counter the damaging effects of exposure to harsh arc lights, sun, pollution, dust, wind and heavy make-up. Stars of the big and
small screens, theatre artists and even models are forced to contend with these constant external aggressors, including heavy make-up, which dehydrates the skin and leads to visible signs of premature ageing. The Starlight Range was formulated to counter these effects. It consists of delicate blends of plant extracts, aromatic essential oils, active vitamins and minerals, which have been handpicked for their potent protective, restorative and healing properties. It comprises of a Make-up Cleanser, Day Cream with Sunscreen, Night Cream, Spotlight Damage Control Moisturiser, Rejuvenating Mask, Cream Shampoo and Ayurvedic Massage Oil. They represent the latest technology in Ayurvedic beauty care.
You have said that ‘my philanthropic work has remained the nerve centre of my entrepreneurial success.’ Please tell us about your philanthropic activities.
I wanted to make a positive contribution towards empowering the less privileged by supporting vocational beauty training for the physically challenged, so that they have the opportunity to be financially independent and self-reliant. I started my free beauty training courses for the speech and hearing as well as the visually impaired over 35 years ago. The learning of different skills not only opens the door to employment, but is also important for the development of the country. We are also involved in the government’s Skill Development projects for Training and Certifying under-privileged women in the beauty and health industry. Our Academy has created Study Material and Class Plan to train the women. The beneficiaries also received Toolkits to help them start their own business from home. Over 40,000 women have been trained. I believe that Skill Development certainly has great social relevance in a developing country like India.
What were your objectives to start Shamute and Shasight? What is the syllabus? What do they learn?
I started Shamute, my free beauty training
CC
tadka
D-Mart CEO richest professional in India The CEO and MD of Avenue Supermarket that runs D-Mart stores, Ignatius Navil Noronha, is the richest professional CEO in India with an aggregate wealth of over `1000 crore, as per the recent report by Prime Database.
June 1-15, 2017 / Corporate Citizen / 23
Corporate Stalwarts - 2
Who has been the greatest influence in your life and why?
My father has been the greatest influence and inspiration in my life. I come from a conservative family, but I was fortunate to have a broadminded, Oxford-educated father, Chief Justice NU Beg, who put me through schooling in an Irish convent and instilled in me a love of poetry and English literature. He also encouraged the right combination of traditional values and progressive ideas and I learnt to love and respect the rich heritage of India. My father inspired me to follow my dreams. When I started my business, he taught me to have faith in my own abilities. When I opened my first herbal clinic in my own home, it was my father from whom I borrowed `35, 000. Behind my success lies my father’s faith that I would succeed. He was a constant source of support. My father also inspired me to start philanthropic causes. He said building up 24 / Corporate Citizen / June 1-15, 2017
Beauty
Tips
course for the speech and hearing impaired in 1984. It was inaugurated by the then President of India, late Dr Giani Zail Singh. Later, in 2008, I started Shasight for the visually impaired. I started these free beauty courses, to equip the physically challenged to be financially independent and self-reliant. Today, Shamute and Shasight are offering free vocational training in beauty and career opportunities. At the end of the course, the students receive the Shahnaz Husain Beauty Diploma, so that they can find jobs and lead meaningful lives. The syllabus at Shamute includes theoretical knowledge, along with the learning of practical skills, like facial, head and body massages and other salon treatments, like waxing, threading, manicure, pedicure, hairdressing, hairstyling and so on. At the end of the training, the students receive the diploma, thus opening career avenues for them. The Shasight Beauty Diploma Course is in Ayurveda Massage, which includes Face, Head, Body, Hand and Foot Massages along with all the different strokes of massage. Knowledge of cosmetics / products for skin and hair care is also provided. The students also learn about specialised Shahnaz Husain treatments and products, along with benefits of herbal care. Practical training is given according to the needs of the physically challenged students. The duration of the training for Shasight students is six months. I have also written a book on beauty, which has been put into Braille for the visually challenged students. The book also serves as a reference book, as they can refer to it. It contains all the details of massage, the various massage strokes and also includes theoretical knowledge of the skin and hair, skin and hair types and problems, clinic management and business management.
Give some special tips to keep your skin glowing.
Include a variety of natural foods, like fresh fruits, raw salads, sprouts, yogurt, fresh fruit juices, leafy green vegetables, ‘dalia’, oats and green tea in your diet. Fresh fruit juices should be diluted with water. Drink plenty of water. Add the juice of a lemon to a glass of water and have it first thing in the morning. It flushes the system and adds a healthy glow. Daily exercise also adds a healthy glow to the skin by improving blood circulation to the surface. After cleansing, tone the skin daily with chilled rose water, or rose skin tonic. Toning stimulates blood circulation to the skin surface and adds a glow. Wipe the skin after cleansing with cotton wool pads soaked in chilled rose water. Then pat the skin. Cleanse the skin daily at night and rinse well with plenty of plain water. This keeps the skin healthy and radiant. Exfoliating the skin once or twice a week works wonders, removing dead cells and brightening the skin. Take sesame seeds (til), dried mint (pudina) leaves and honey. Crush the sesame seeds coarsely and powder the dried mint leaves. Mix them with a little honey and apply on the skin. Leave on for five minutes. Rub gently and wash off with water. Or, mix ground almonds with yogurt, apply it on the face, leave on for 15 minutes, then moisten with water and rub gently. Wash off with plenty of water. Face packs play a vital role in skin care, by completing the cleansing process, dissolving impurities, softening dead skin cells, removing them and adding a healthy glow. Fruit packs are great for adding radiance to the skin. They can also be applied daily. Mix grated apples with ripe papaya pulp and mashed banana. Yogurt or lemon juice can be added to the mixture. Apply it on the face and leave it on for half an hour. Wash off with plain water. It not only adds a glow, but also removes tan and softens the skin.
Women of which country, according to you, keep themselves glowing and beautiful?
I think Indian women are among the most beautiful women of the world. They look exotic and feminine. The quality of femininity is so important. The women of South East Asia also have beautiful skin. This could be due to their diet of seafood and seaweeds. Women of South American countries, like Argentina and Brazil are considered beautiful and continue to win beauty titles.
What is your opinion about Indian women in terms of the care that they take in dressing up and looking after their skin and hair? Today, Indian women have become aware of beauty and beauty treatments. There is more exposure to global trends and higher disposable incomes, due to the increase of working women. Women from the middle class are working and look after their grooming. There are many jobs where the appearance counts, like front office jobs in the hotel industry, in travel and tourism, sales and marketing, fashion and television. A large number of beauty products are available today and the beauty salon business has also seen phenomenal growth. There is also a great degree of awareness that beauty salon treatments provide psychological benefits too, in terms of inducing relaxation, reducing stress and boosting self-confidence.
spiritual goodwill was more important than worldly success. My father gave me some valuable teachings, which really stood me in good stead, especially during times of tragedy and loss. His teachings gave me inner strength and I emerged stronger from times of adversity.
What is your business model, which has brought you national and international laurels?
Our business model is a unique franchise system, which is at the core of the success of the Shahnaz Husain brand. In fact, the fast-paced extension of the Shahnaz Herbal salons is due to this system, by which the franchisee obtains the right to use the Shahnaz Herbal name and treatments, as well as enjoy a margin of profit on the sale of products. The franchisee, in turn, has to acquire training in specialised treatments in Shahnaz Husain’s beauty training academy and also satisfy the stringent requirements of a name that has become internationally known. Apart from strong branding, the Shahnaz Husain franchise offers an established business model with proven success rate and efficacy. The brand name has established tremendous international goodwill. The Shahnaz Husain Signature Salons have become internationally known for path-breaking treatments and innovations, while the Shahnaz Husain organic formulations have taken international markets by storm. The franchisee also derives the benefit of advanced research and development in the Shahnaz Husain R&D units. The franchisee support programme provides Technological Know-how and Support, Marketing Support, Unit Setup Assistance, Administrative Support and Website and Salon Software. The benefits of the Shahnaz Husain franchise have made it a valued business opportunity for entrepreneurs, giving them the golden chance to share Shahnaz Husain’s phenomenal success. Each franchise venture is an integral link in a globally renowned chain.
For a woman in India, to achieve spectacular success like yours is remarkable. What part has your family played in spurring you on?
When I started my first herbal salon, it was in my own home. To that extent, I was always at home for my children and family. I always say that I could never have achieved what I have, without the support and understanding of my family. First of all my father guided me and then my husband became my real inspiration to take up a career. I was also fortunate to have the support and understanding of my family, while I struggled relentlessly to achieve my dreams. As a family, we discussed everything and valued each other’s suggestions. Howev-
Shahnaz Husain and R K Puri walk the red carpet at Cannes
Today, Indian women have become aware of beauty and beauty treatments. There is more exposure to global trends and higher disposable incomes, due to the increase of working women. Women from the middle class are working and look after their grooming. There are many jobs where the appearance counts, like front office jobs in the hotel industry, in travel and tourism, sales and marketing, fashion and television er, along with the recognition and acclaim that success has brought me, I have also experienced the inevitable “other side”……. the lack of time that I can truly call my own, the time which I can spend with my family. But, no matter how hectic and demanding my work was, we used to spend quality time, getting away for vacations and weekends together. These are moments which help understanding within the family and later become times to remember and cherish.
What is your advice to young women entrepreneurs? What are the qualities they must have to make it big in their business?
First of all, professional qualifications and training is the order of the day. So, it is very essential today to acquire professional and vocational training in your field. If you can get advanced training and also specialise in some aspect, it can be an advantage. Believe in yourself and your own abilities. Keep learn-
ing. Have the courage to say “I don’t know this, but I can learn it.” The sky is the limit, but one should have relentless determination to excel and the ability for sheer hard work. Never give up. If you never give up, you cannot fail. Have the ability to adapt and adjust, because one has to adapt to the changing demands of the market and trends. As I did, you may start in a small way, but think “big.” You have to think that nothing is beyond you.
How important is a family value system? How should every woman prioritise it even if she is a working woman?
It is within the family that values are learnt, which ultimately helps us to deal with the world. The values within the family help us as parents to raise our children and inculcate the values that will give them the strength to deal with the outside world. The family is also where we can return to recharge our batteries and to get help and support. For the working woman, a family value system helps in managJune 1-15, 2017 / Corporate Citizen / 25
Corporate Stalwarts - 2
The President of India, Shri Pranab Mukherjee with Shahnaz Husain at Rashtrapati Bhavan with the visually impaired students of Shasight
Shahnaz Husain receives Padma Shri Award from late former President Abdul Kalam
Shahnaz Husain with Harvard Professor Geoffrey Jones, she was a Harvard Case Study and is now a Subject
ing the household and yet delegating work to the family. It can even give children a sense of importance, if we rely on them for small tasks at home. The idea of self-help can be inculcated in the family. Discuss the problems with the older children. Ask for suggestions. This also gives them a feeling of self-worth.
You are a stickler for fitness. What is your day’s routine like? Tell us about your diet and fitness regime that keeps you fit.
I am a staunch believer in “internal health for external beauty”. I have a demanding career, with hectic schedules. But, I make it a point to set aside some time for daily exercise. I have found yoga to be an excellent way of relieving stress and strain. I start by doing some breathing exercises. The first step in yoga is learning to breathe better. Yogic Pranayama is probably one of the best exercises of correct breathing. They are of great benefit to overall health, in terms of cleansing the body of toxins and wastes. I have found that it helps me to get rid of both physical and mental fatigue. I follow this up by performing some yogic exercises. Yoga gives the body flexibility and strengthens the spine. An important advantage of yoga is that it can be done anywhere and no elaborate equipment is necessary. Even when I am trav26 / Corporate Citizen / June 1-15, 2017
Shahnaz Husain with Cancer Survivors, speaking on her Chemoline Range for cancer patients
eling abroad, I can perform a few exercises. Another advantage with yoga is that at the end of the exercise routine, there is no fatigue. I find that it makes me feel relaxed and gives me a sense of well being. I do not believe that eating for health and beauty means that one must deny oneself food and suffer pangs of hunger. It is basically a question of developing a positive attitude about choosing the right foods. I start my day with a glass of ‘nimbu paani’ in which I add a dash of honey. It helps to flush the system and is an easy way of taking in essential nutrients. For breakfast, I have fresh fruits and freshly extracted fruit juice. Raw salads and sprouts are kept prepared for me, or I may have oats. I not only have this for lunch, but eat a small bowl of it whenever I am hungry. I am very fond of yogurt. I think it is a wonder food. It is rich in vitamins and minerals and also meets protein requirements. It is easily digestible and can be taken in a variety of ways.
How much of importance should a woman give to her looks, fitness and diet? Please give some tips for them.
Good health and beauty are two sides of the same coin. A beautiful woman has a vitality that comes from sheer good health and fitness. Looking good imparts self-confidence,
so necessary in a competitive world. There are so many jobs today, where appearance counts. Also, for a flawless skin, shiny hair and a slim figure, good health must be on top of the list. Diet, exercise and a healthy lifestyle are necessary to look and feel good. They are the foundations of beauty. Select a diet, which provides the necessary elements. Fresh fruits, raw salads, sprouted grains, yogurt, cottage cheese, leafy green vegetables, daals and beans are foods that ensure an adequate supply of nutrients. Drinking adequate water helps to eliminate toxins and wastes from the system. Add the lemon juice to a glass of water and have it first thing in the morning. Some form of daily exercise is necessary for fitness, a slim and supple figure, good posture and grace. Exercise increases oxygenation, builds up stamina and reduces stress. Walking is a good physical activity, as it exercises all the muscle groups. Stretching is of immense value in improving the figure. You can also learn yoga and practice it daily. Remember to take your doctor’s ‘go ahead’ before taking up any regular exercise programme. Adequate sleep is also essential to beauty. Sleep is a way of restoring energy to the body and is nature’s best cure. It is a beauty treatment in itself.
What does it take to keep a marriage?
I believe that respect and friendship are very
do can solve this problem of lack of time. A brisk walk is a good exercise. Start with a few stretching exercises and deep breathing. This would not only benefit the figure, but also help to induce relaxation and reduce fatigue. Regular exercising and a nutritious diet are bound to help. Beauty care takes only a few minutes of your time. You can cleanse and tone the skin before your bath. Keep ten minutes, during the day, to just lie down and relax. You need to recharge yourself. In fact, you can combine it with a beauty treatment. Dip cotton wool pads in rose water and use as eye pads. Used tea bags also make good eye pads. Eye pads revitalise the skin around the eyes, remove fatigue and add brightness to the eyes. The relaxation certainly helps. A few times in the week go to bed early and catch up on lost sleep, especially if you have a baby. Set aside one day a week to give yourself a manicure and pedicure, condition your hair and apply a facemask. If you can manage to get away to a beauty salon, there is nothing like it.
What is the philosophy of life you live by?
I do not believe in destiny. I believe that you can make your own destiny. I have always had a positive attitude towards life. I have welcomed challenges and have looked at them as opportunities. I always look ahead with optimism and I never stop trying. I can never rest on my laurels. I always look for another frontier to cross and another mountain to climb. My philosophy of life has also been, “Do your best and leave the rest to the Will of God.” This total surrender to the Will of God has helped me to stay grounded and face insurmountable tragedies with inner strength. Happiness and sadness, success and failure are different aspects of life. They are transient and ever-changing. What remains constant is inner spiritual strength. It helps one to remain firm, even when one is buffeted by the tempest of life. vinitapune@gmail.com important in a marriage. Husband and wife should be on an equal footing. After the initial fire of romance dies down, the friendship and respect endure. It is the companionship and unconditional support that one values in a good marriage. Each can be a sounding board for the other, sharing opinions and ideas and also ask for suggestions and advice. It becomes so much easier when one gets unconditional support from the partner. It not only helps in personal growth, but also in furthering careers and ambitions. Life today can be stressful. It is important to recognise this and take steps to reduce stress. I would say that one partner should never take the other for granted. Also, adjustment, consideration, selflessness are some of the qualities, on the
part of both partners, that help the marriage survive and succeed.
Why do women get sloppy and casual about themselves after the birth of a child?
Once married and becoming a mother, many women also tend to let themselves go and don’t give that much importance to their appearance. The result is spreading outlines, dull skin and hair as well as careless grooming. I think efficient time-management is the answer. No matter how demanding housework is, you have to set apart some time for yourself every day. Actually, daily skin and hair care take only a few minutes. So does daily exercise. Getting up half-an-hour earlier than you normally
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2.5 lakh dormant Cos likely to be dissolved As per the recent public notice issued by the regional offices of the Registrar of Companies, it has named about a quarter million (2.5 lakh) companies in India, with no business to show, to be dissolved for not carrying out any business over the last two financial years and failing to apply for ‘dormant’ status.
June 1-15, 2017 / Corporate Citizen / 27
CII-National Marketing Summit 2017
The right approach is, in fact, to make our media mix, catch and resonate with the dynamic ways in which the private audiences are consuming different forms of media
Digital as a new way of life The proliferation of digital technologies over the past two decades has been substantial, marking one of history’s most rapid rates of adoption of new technologies. The majority of today’s consumers are actively personalising their digital experiences and this option of personalisation impacts consumer’s digital behaviour across all industries and verticals. With the accelerated adoption of smart connected devices, the customer buying process has undergone a paradigm shift. The communication game has shifted from delivering a message to delivering a consistent experience throughout the customer journey cycle. Taking the theme “Digital, The New Normal of Marketing” the Confederation of Indian Industry (CII) recently organised its annual flagship event “National Marketing Summit 2017” at Hotel Taj Lands End, Mumbai, aligned to the national agenda of Building National Competitiveness. In his keynote address, Rajiv Dube, Director, Aditya Birla Group, spoke about the emerging roles in the digital world and digital marketing. Corporate Citizen, brings to you the speech that set forth the principal theme for the one day summit By Rajesh Rao 28 / Corporate Citizen / June 1-15, 2017
Rajiv Dube, Director, Aditya Birla Group
Wave that is sweeping the world Given the nature of the subject, I think it would have been more appropriate to have someone who is part of the millennial generation to deliver the keynote address. The fact that you have invited someone whose roots are in hard core manufacturing and general management, is indeed encouraging personally to me. I must confess however that I am a convert and a believer in the wave that is sweeping the world. And I hope I can share with you in the course of my interaction, some of the enthusiasm that I have managed to gather from the millennials that I am surrounded with at my office and at my workplace and also one that stays with me at home.
English poet and playwright, William Shakespeare has said, “There is a tide in the affairs of men, which taken at the flood, leads on to fortune.” I actually believe that what we have right now in India is a digital type and the businesses that take them at the flood, will indeed earn a fortune. Surprises are better than the advances Before we go to the macro picture on digital, let me start with an event that happened with one of the brands of the Aditya Birla Group, which in a way illustrates the power of digital. We all know surprises—surprises
are even better than the advances. Imagine the kind of impression a brand leaves when it does something for you, when you are least expecting it. By picking up a very ordinary tweet, Louis Philippe (a premier Indian brand of men's apparel, a brand of Madura Fashion & Lifestyle, a division of the Aditya Birla Group) tried to create an extraordinary and a very humane experience in their recent ad, of a young girl and her father. And it created, via digital, a way of reaching customers that could never have been done before. It’s a small example of how going digital is turning into an effective way of marketing.
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CII-National Marketing Summit 2017 Indians to accept digital wave We are living in a dynamic digital world with endless digital possibilities surrounding us. Today, we merely need to move our fingers on our smartphone screen to order a cab, book a dinner table, and do shopping. We spend a majority of our waking hours working on smartphones. With the nation’s recent demonetisation move aimed at, among other things, moving towards a cashless Indian economy, the digital wave will only gather further momentum. Organisations are taking multiple actions towards realising the collective dream of a digital India. Digital literacy drives incentives to transact online, with discounts on purchases of fuel, accidental insurance service benefits for railway passengers and cheaper premiums on Life Insurance Corporation of India (LIC) policies. It is a conscious effort to expand the reach and efficacy of the digital infrastructure evident in the form of free Wi-Fi technology that is now available at some railway stations in Mumbai, that will all result in an increased number of Indians to accept digital as a new way of life.
now-making digital not really a choice for any business anymore, but very clearly a mainstay. Digital has the capability Today, most organisations are in their initial stages of their digital journey. There is no doubt that digital has capability to impact the external commercial side of businesses. However, if harnessed properly it can also have a significant impact on the internal operations of the organisations. The benefits of going digital are many. Mainly, the digital marketing goes from planning to execution fairly quickly. Return on marketing can be more easily
channels be it digital or traditional is only a means to an end. We must remember that most important of things at the end of the day, is to deliver a great customer experience.
Delivering a great customer experience The digital marketing debate at the outset used to be seen as a digital versus media debate. Given the behaviour of today’s consumers who seamlessly interact and engage both on offline and online media, it’s a no longer a question of embracing digital and cutting down of traditional. The right approach is in fact to make our media mix, catch and resonate with the dynamic ways in which the private audiences are consuming different forms of media. The
Customer interaction Digital has changed the way brands interact with customers that have been part of customers’ journey, starting from when a need is discovered to when solutions are explored, to when transactions happen, to when usage is initiated, to when experience is shared. Firstly, digital marketing has made it possible to sharpen the identification of need based consumer segments. This, fuelled by data driven analytics, resulting in identifying and communicating with those group of customers, who are most likely of purchasing the company’s product and services. At Idea Cellular, predicting subscriber who propels you to using digital analytics has helped to identify micro segments and market them with high precision. Secondly, it has enabled brands to offer solutions when and where they matter most. Ultratech Cement has platforms called ‘Home Building Basics’, Vastu and virtual home builder, which enable users to understand more about what it takes to build a great home of their choice. The third stage, which is largely benefited by going digital is the stage of making a transaction. Transactions now happen quickly at the convenience of customer’s fingertips. A classic example of this is the active account app by Birla Sunlite Mutual Fund, which enables you to transfer funds from your bank account to a liquid fund, thereby earning you a higher rate of return with just one swipe. The process of underwriting by insurance companies is becoming increasingly seamless. Take medical insurance for example, underwriting happens
Rajiv Dube joined the Aditya Birla Group in July 2010 as Director of the Aditya Birla Management Corporation. His executive responsibilities as Director, Group Corporate Services include oversight of the functioning of select Group corporate functions — Management Services, Information Technology, Business Excellence, Corporate Affairs, Economics, Projects, Consumer Insights and Brand Development and Sustainability. Additionally, he is the Director for Domestic Textiles, Overseas Spinning and Acrylic Fibre businesses besides being on the Boards of Swiss Singapore Overseas Enterprises and Birla Management Centre Services. In an interesting career that spans nearly three
decades, Dube was with the Tata Group, prior to teaming up with the Aditya Birla Group. Beginning his career in 1983, in the commercial vehicle manufacturing operations of Tata Motors, he rose to be the President of its Passenger Car Division. Between 1991 and 1998, Dube was part of the Group Chairman's Office at Tata Industries. Since 1998, he has held various leadership positions within the Passenger Car Business of Tata Motors before assuming overall responsibility of the business in 2005. An erstwhile officer of TAS, formerly known as the Tata Administrative Service, Dube comes with a rich experience in engineering, manufacturing, marketing, sales, service and general management, and has been
when somebody buys a new dress, a picture is posted on Facebook; someone visits a restaurant, a check-in happens; someone is travelling to a new place and a post is put up—digital can be a great enabler in this regard
Clearly a mainstay With the roll-out of 4G and aggressive pricing of smartphones the consumers are becoming all the more spoilt for choice. As per Google, by 2017 the number of mobile phone users will have crossed one billion and the number of internet users in India would reach five hundred million, of which four hundred million will be accessing internet through their mobile phones. The Information Technology Ministry of India expects this to happen in the next five to eight months. This coupled with the fact that new-generation customers check their smart devices every 9.06 minutes or 159 times a day-I am sure some of you are doing it right
About Rajiv Dube
30 / Corporate Citizen / June 1-15, 2017
attempted—digital marketing gives recipients chance to share content more easily. Digital marketing campaigns have a long shelf life. Digital marketing gives a brand sufficient time and space to tell its story.
implemented in all kinds of B2B and B2C areas in healthcare, social care, finance and practically every sphere of life. For the marketer getting the biggest bank for backing the digital marketing obviously starts with defining clear objectives, by defining the tools and being clear about the metrics that one would use. More than that, it involves reimagining the customer value in the digital world and how one can multiply it across the customer journey. Construing the potential of networking collaboration, changing the business model and being completely flexible to options while keeping the co-brand promise clear, brands will make tremendous impact and reach audiences more widely and deeply than ever done before.
on a case to case basis and is typically about three to four hours. But by using information from social media, the process of underwriting can reduce to minutes. For example, a person has posted a picture when she is running or completing a half marathon and it can be a safe assumption that she is healthy and can do with a greater coverage, for a smaller premium. Then there is a stage of using the product on the boards of select companies within the Tata and the Aditya Birla Group. Dube is an ex-Chairman of the Board of the Advertising Standards Council of India (ASCI) and is on the Industry Advisory Council for the S P Jain Institute of Marketing and Research, Mumbai. He has served as the Chairman of the task force on vehicle classification at the Society of Indian Automobile Manufacturers (SIAM) and was member of its passenger car CEO's Council. Dube holds a bachelor's degree in mechanical engineering and with a postgraduation in business management. (Source: http://adityabirla.com/About/rajivdube)
or service and being present with the customer digitally. This is particularly useful, when consumers seek social approval. For example, when somebody buys a new dress, a picture is posted on Facebook; someone visits a restaurant, a check-in happens; someone is travelling to a new place and a post is put up—digital can be a great enabler in this regard. Brands, which can share the thoughts of consumers just after they have initiated usage, gain the most. And finally there is a stage after usage, when a customer wants to interact with the brand of shared experience. Consumers are resolving to tweeting and messaging on social platforms to get their voice heard. It is imperative that the companies have dedicated teams for social listening and for queried resolutions on social media. What next now? The Internet-of-Things (IoT) or telemetrics are no longer the future of digital, they are coming in fast here and now. For example, Caterpillar’s predictive diagnostics, the Vision Link, claims to enable repairs before failure, for its IoT enabled fleet located across countries. Thereby saving millions of dollars of OEMs money on severe path failures. Solutions are being found and
Crucial questions For a business, there are some crucial questions that have been raised digitally. How do you reinvent your organisation and your business ecosystem to truly deliver on digital? This is not the responsibility of any one function that requires a budget-wise seamless work across functions and with speed. How does a culture become truly digital? While retaining the personal touch and trust that must ultimately govern the success of the brand. Finally, how do we combine intelligence, creativity and agility, while ensuring integrity and consistency in a brand? It is certainly challenging, but it is something we need to overcome fairly quickly. That’s why, I feel this conference is focusing on the right issue of digital, being the new normal of marketing. That said, I also firmly believegoing back to the opening quote from William Shakespeare-that the businesses that are able to take the digital tide at the flood that we are now seeing, indeed be the ones to earn a fortune in terms of strong, loyal and growing customer bases—powerful engaged brands and thriving businesses house. rajeshrao.rao@gmail.com
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LIC preferred over private insurers Go East or West, LIC is definitely the best. As per the latest data, state-run Life Insurance Corp, outdid private players with 27% growth, compared to 24% for its rivals, aided by an 84% expansion in LIC’s single-premium revenue for March 2017. Overall, though, things are looking good for everyone with new business premium income of life insurers increasing to 26% last month.
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Mind over matter
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Paramheet
War veteran and retired artillery officer Col Sudhir Naphad is a firm believer in the power of the mind in overcoming difficulties. "When you harness the potential of your thoughts and emotions there is little that you can't overcome," he says. A simple belief that led to his founding Paramheet, a voluntary organisation dedicated to counselling, psychotherapy and mental health, post-retirement in 2005. Even as his career got off to a challenging start as a second lieutenant in the 1971 war, to subsequently going on to command two regiments, including the 164 Field Regiment and the Military Police (Southern Command), Col Naphad has witnessed firsthand, that both an individual and the organisation are a direct thought product of their attitudes, thoughts and approach—all of which come under the gamut of mental health—which he lucidly points out, is much more than the absence of mental disease. "The manner in which we respond to the challenges of day-to-day life, the positivity and sensitivity we show towards those around us, all of this is mental health," he points out. Having traversed diverse territory—both in his personal and professional life—he would know. The loss of a beloved spouse to lung fibrosis, dealing with the issues of his men and motivating them, "to possibly make the greatest sacrifice of all," Colonel Naphad brings both, his life experiences and illustrious military training to the table when it comes to giving back to society through Paramheet. Equipped with an MS in counselling and psychotherapy which he pursued post-retirement and backed by a dedicated team of volunteers from different walks of life, including some of his colleagues in uniform—all of who have done a basic course in counselling, he believes there's a lot of ground to be covered as far as spreading awareness on mental health in a society as layered and complex as India, is concerned. To that end, the Paramheet portfolio is at once diverse and united: 32 / Corporate Citizen / June 1-15, 2017
Way
spreading awareness on the importance of good mental health through awareness programmes in schools, colleges and assorted social forums; parental guidance programmes; workshops on stress-management for both students and professionals, including police officials and PMPL staff; organising discussions or seminars on relevant topics through various experts; training and research in psychotherapy; as well as encouraging educated people to learn the skills of counselling, and further spread the good word. So far, the trust has reached out to more than 10,000 students and about 2500 parents and teachers across 150 schools all over Maharashtra, apart from bringing out eight to ten books on topics pertaining to emotional balance, parenting, soft skills and overall well-being. This is his mission, post-retirement and this is how he tells it By Kalyani Sardesai
Indian society, on the whole, is rather ignorant about mental health. It is not the absence of mental and psychological disorders alone that establishes us mentally sound people, but also the ability to deal with life’s issues positively and rationally, and the sensitivity and grace with which we interact with people
Pics: Yusuf Khan
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Military to Management Tell us how your army background brought you to a field like mental health. Army men are generally seen perceived to be very rough and tough in their "buck up and just do it" attitude! On the other hand, mental health is a delicate and layered subject. How does the twain meet?
early retirement from the services and started working in an Indo-Swiss vocational training trust, which was focused on recruiting and empowering industrial employees through intervention programmes. I couldn't help but notice the vast difference in training methodology between the army and the civilian world. So, I thought: why not bridge the gap? To that extent, I pursued an MS in counselling and psychotherapy from IBMS, a duration that got me in touch with a most interesting set of batch mates. So I pondered over the possibility of starting an institute that would combine the assorted talents of its various trainers (who have retired from different professions) to contribute to the cause of mental health in society. Thus, Paramheet was founded in 2005.
I have always been interested in mental health, and observing how human beings respond to situations. In the army, one is exposed to a potpourri of people from different backgrounds and yet, all of them march together as one. The reason for this tremendous motivation is a deep sense of belonging to one's regiment, as well as an abiding commitment towards one another. If the '71 war with Pakistan taught me one thing as a young officer, it is that the human body is capable of withstanding tremendous emotional and physical stress provided one's mind is focused on a cause that About goes beyond one's self. When Col Sudhir you are in active combat, honNaphad estly, you are more worried about the well-being of your men, than yourself. You feel After graduating from responsible for others and that National Defence Acadis a valuable quality the army emy Khadakwasla and inculcates in each of its men. Indian Military Academy Years later when I took comDehradun, Sudhir Naphad mand, I got to observe at close got commissioned in the quarters the several issues that Regiment of Artillery in my men dealt with simultaneIndian Army. ously: from family pressures to Within a year he got the performing on the job. I'd do opportunity to participate these informal counselling sesin 1971 Indo-Pak war in sions with them and I realised the Western Sector. For that when people share what's the valour shown in this on their mind with others, it is war his regiment was both therapeutic and healing. It awarded battle honour also revved up their professiontitle "Parbat Ali". al output. During his service of In my personal life, the 31 years in the army he manner in which my late wife served on many important Rekha dealt with her lung fiappointments in brigade, brosis taught me a lot, even as division, Corp and comI tried to ensure her end came mand headquarters. about peacefully. I had two He commanded an young daughters in college to artillery regiment in bring up—so those days were a Punjab during anti-terrorist valuable time spent in developoperations. He also had ing coping mechanisms. Grief a couple of successful comes to everyone. It is the tenures as an instructor in manner we deal with it that can School of Artillery, Deolali, make or break us for grief also Nashik. He retired after teaches you lessons not found serving as a commanding in any textbook. officer of a Military Police Around that time, I took an Unit in Pune. 34 / Corporate Citizen / June 1-15, 2017
Tell us more about the backdrop against which awareness of mental health issues becomes so important.
I would say that Indian society, on the whole, is rather ignorant about mental health. I repeat: it is not the absence of mental and psychological disorders alone that establishes us mentally sound people, but also the ability to deal with life's issues positively and rationally, and the sensitivity and grace with which we interact with people. There is stigma attached to counselling—I wonder why that is so. When you get hurt, do you wait for a scratch to become septic before you seek help and intervention? Then why don't we deal with mental issues and stress before they acquire massive proportions?
Tell us Paramheet's agenda at a glance.
Paramheet is a Sanskrit term that means "the highest joy of life." And what higher joy can there be than peace of mind? While our philosophy and mission clearly states that we strive to create a society in which there is harmony between individuals, thereby setting each of us free to fulfil our own aspirations, we decided initially to focus on youngsters between 13 to 19
years as this is the most impressionable age group of all. To that extent, we approached schools to conduct our 'Ten Point Programme' for class X and XII students that shows the children how they ought to cope with stress, control their emotions and at the same time, utilize their time to study to the optimum. The programme was a success and the rest as they say is history. Till date we have covered over 150 schools across Maharashtra and counting.
Exam phobia, which is the main reason behind your developing The Ten Point Programme, seems to have crossed all boundaries...
Yes, and absurdly so. The reasons for this are twofold: firstly, we attach unfounded prestige to the outcome of examinations, firmly believing that a 'good family' is one in which the kids score high on their academics; and secondly, the lack of information regarding the vastness of the opportunities outside the gates of school and college. To that extent, career counselling becomes important, and that was our next logical step. To this end, we tie up with schools and social institutes like Rotary's and Lion's Club. We also offer career counselling to students who need it. This includes putting them through standard psychometric tests on IQ, aptitude, personality etc, apart from taking inputs from parents and teachers on that individual's assorted interests, family circumstances and so on. That said, it is soon going to be that time of the year when news channels and other mass media will go to town about “The War of the Xth boards” or the “Gladiatorial Arena of Std XII”. What ridiculous terminology and how very misleading! No wonder the children are so stressed—it is us adults who are responsible for promoting their performance as a 'do or die' situation, comparing it to war, no less! How much more prudent it would be if we focused on the joys of learning, instead of the outcome. Call it a game if you please, but not war. In our ten point programme, we ask children to approach their board exams like a game, and accept the outcome sportingly. Young lives are precious; they need to be told repeatedly that there is nothing that is the end of the world. Some months back, I had been invited to do a workshop with the senior students of a school in a village near Gadchiroli. This was followed by a session on career counselling. As I finished for the day, and the students left, a young girl came up to me, and with tears in her eyes thanked me for "saving her life" because she had been all set to take her life that very morning, but something made her attend my workshop. After listening to me, she said, she realized that life was about overcoming obstacles and being strong and patient. Such moments are the most rewarding of all.
parents that better one year lost, instead of a lifetime of frustration! But this is an important and regular challenge in our world. I also have an example of a handicapped student due to polio, who had developed inferiority complex and was not able to pursue his studies successfully. On top of it the constant bickering of his parents and comparison with his younger sister had left him frustrated. About 20 counselling sessions over a period of three months did wonders. Not only did he clear a few papers of his second year B Com degree, but also cleared all the subjects of his final year in one go. There was only a need to make him realize his own mental power and utilize them successfully. Similarly, we felt the importance of teacher's training in helping scale up both the quality of the teaching as well as the motivation levels of the teacher. Recently we tried out a new technique called SQ3R, which means "Survey, Question, Read, Register and Recall" for the teachers of a school. One of them got back saying that this method of organising her day's lesson plan had upped her productivity by as much as 40 per cent. One of our most interesting modules is the combined "Parents-Teacher" workshop, wherein we use different methodology to help them understand each other's positions. We give them various topics on which they come up with plays, in which parents play the role of teachers, and teachers play parents. Not only is this creative and fun, it helps them develop empathy for each other, which to my mind is critical in building camaraderie between these two important pillars of a child's life.
In our Ten Point Programme we ask children to approach their board exams like a game, and accept the outcome sportingly. Young lives are precious; they need to be told repeatedly that there is nothing that is the end of the world Tell us more about the workshops you do for parents and teachers.
We are living in a transitional society, where the tried and tested is increasingly giving way to the untried and untested. This is both good and bad, but parenting against such a canvas becomes even more complex. The joint family system, by and large, does not exist anymore; more often than not, the nuclear family is the core unit and the burden of parenting is entirely on the couple, without the guidance of the family elders. The avalanche of social media, and an increasingly consumerist economy makes it hard to bring up children with the right values. Despite their best intentions, parents end up
making mistakes that can be avoided. To that extent, Paramheet volunteers try to put things into proper perspective. As a society, we are so focused on making doctors, engineers and lawyers out of our children that we tend to forget that we are simultaneously bringing up citizens as well, and that their soft skills are as important as their professional degrees. Parents need to strike that balance in their upbringing. At the same time, they need to know when to back off. I know a student who is clearly not cut out for engineering, but is nevertheless reluctant to cut short his losses, and pursue a regular bachelor's degree, simply because his parents donated a massive sum of money to the college. It's a task to convince the
Paramheet also organises trips to the NDA. Tell us more.
Several members of our organisation are alumni of the National Defence Academy, Khadakwasla. It is one of the premier world-class institutes that trains officers for all three services of the Armed Forces, and it makes sense for us to include it as part of a motivational exercise for youngsters. The NDA authorities, very graciously allow us to take groups of 40-120 school and college students between classes IX and XII to their premises. Apart from a conducted tour of the NDA, the students are acquainted with its august history and all that it stands for.
Any case studies that you'd like to share with us?
Oh yes. Our work regularly takes us to people from different walks of life, and it is a revelation how similar human aspirations are, despite the seeming differences. Everyone wants respect, compassion and understanding. I recently did a workshop with police personnel from the Police Training Academy at Nashik on stress management. They enjoyed it all, the relaxation techniques as well a chance to share all that they June 1-15, 2017 / Corporate Citizen / 35
Military to Management go through. Then there was another workshop on stress handling techniques for employees of PMPL—few people realize how hard it is to driving around Pune all day long and rarely appreciate the staff for all that they do. That's sad. A mere act of going to them and telling them how we appreciate their hard work and would like to help them to manage their stress is so motivating for them. I sincerely wish the superior officers in their respective organisations make some efforts to cheer them up occasionally Paramheet is a social and raise their spirits. public trust registered un-
Paramheet also offers a basic certificate course in psychological counselling. Tell us more.
As part of our objective to promote awareness and understanding, offering a basic certificate course in psychological counselling becomes imperative. The eligibility criteria for admission is Std XII and above 18 years. The course covers vast ground ranging from the developmental aspects of the human being, right from conception to old age. However, these stages are not clear-cut, water tight compartments but overlap each other. The person undergoes certain physical, physiological, emotional and intellectual development in each of these stages and attains a certain amount of maturity. The ability of a person to handle various challenges and make adjustments determines his/her personality. A psychologist must have sound knowledge of this vital aspect of human life. Apart from this, the course covers the psychology of adjustment, crisis management and decision making. To that extent, we take them through the methods and techniques of counselling. The course is modular in nature, and each of the three modules is of two months duration, followed by an assignment. The participant needs to score an average of 45 per cent before being awarded the certificate. We also offer a diploma course for graduate students. The course covers more prac-
der Bombay Public Trust Act 1950, active in the arena of promoting mental health across various strata of society through workshops, interactions, counselling and assorted techniques of psychology, including role play, visualization etc since 2005. Its target groups are largely divided into: students, parents and teachers and teacher training workshops, apart from which its volunteers do stress management workshops for assorted groups. The workshops are conducted in lecture cum interactive discussion mode; the participants would be expected to make individual and group study case presentations. They also carry out career counselling using standard psychometric tests, which help students understand their own potential. The child is then encouraged to collect maximum information on his/her own chosen field. Paramheet also offers a basic certificate and a diploma course in psychological counselling. Paramheet can be contacted at: Flat no. 403, Rambag Society, Kothrud, Pune-38. For guidance and counselling they can be reached at paramheet@gmail.com For more information visit their website www. paramheet. org.
36 / Corporate Citizen / June 1-15, 2017
Col Naphad during his serving days
We are living in a transitional society, where the tried and tested is increasingly giving way to the untried and untested. This is both good and bad, but parenting against such a canvas becomes even more complex tical aspects of counselling, including a project work involving some field work. Apart from this, we offer a modular programme for young adults between 21 years to 40 years, called SEQL, which is short for Self Empowerment for Quality Life. Young adulthood is the most challenging period of our life; various challenges
of completion of our education, seeking good career, choosing life partners, developing new family relationships, challenges of young new parenthood etc create tremendous stress. We forget our own self-development. The programme focuses on realisation of self and its development to cope up with these challenges and make our life more meaningful. In fact, this period helps us to build a good foundation for a meaningful and satisfactory post-retirement life. kalyanisardesai@gmail.com
Beyond the Bottomline
Get busy with quiet time!
T
hinking of the next business move? Here is the latest advice from the top business schools-Stop thinking! Yes, you read that right. If you need to get busy with your next idea, you must do so in silence. What is new about this you ask? Well, the silence is not just about switching off your iPads, iPods, phones and laptops; it is about the silence within. You must switch off the noise you make for yourself. Those thoughts about the next mail, next text or tweet or even just what you plan on saying when you next meet up with your boss/subordinate/business acquaintance. It is time to shush them. Research in the last decade has proved what most of us have grown up hearing; that ‘Silence is golden’. Chronic noise like the whooshing sound of cars and traffic has been associated with high blood pressure and other heart ailments. And while that may be bad news for your body, it may not directly impact
your business sense. What affects your business brain is actually the absence of noise in any way or form. In 2006, a study on the effects of music on the brain led to the discovery that two minute silences between the ‘relaxing’ pieces of music impacted the brain more than the music itself. In a 2013 study at Duke University, the researchers discovered that silence actually made the brain cells in the hippocampus area of the brain grow. Even when you are in a quiet zone but engaged in active goal oriented thought, the brain is experiencing noise. It is only when there is silence in the brain and you let it rest that it integrates the external and internal information into a ‘conscious workspace’. During this period, your brain actually discovers what fits. It enables the brain to think of profound and novel ideas. And as any business guru will tell you, that is the true entrepreneurial skill. paisuchi@gmail.com
How can you do it? • Digital detox. Switch off all devices and screens • Meditate • Insert quiet times in meetings • Nature walks and forest bathing The word “noise” comes from a Latin root meaning either queasiness or pain. Isn’t it time to shed some of the pain for a lot of business gain?
June 1-15, 2017 / Corporate Citizen / 37
NHRDN Career Fest 2017
“you should join telecom because there are multiple things happening in the telecom world, which are not just limited to pure telecom but extend far beyond that�
38 38 // Corporate CorporateCitizen Citizen //June June1-15, 1-15,2017 2017
Careers in
Telecom Today, India is a nation of youth; they are responsible for the country’s well-being. As a result, employability is a key factor towards making our demographic dividend a superpower. Initiatives are required to transform opportunities for India’s youth to use their abilities and work towards development of India. In this context, the National HRD Network (NHRDN) Mumbai Chapter, recently organised a Career Fest at Nehru Centre in Mumbai, bringing together industry and academia, to help the student community make informed career choices. The theme for the fest was “The future of jobs: challenges and opportunities for the youth of India”. Having a rich experience in telecom sector, Prasad Routray, Vice President & Business Head, Airtel Business-Mumbai Region, spoke on career opportunities in the telecom sector. Prasad has an extensive experience in the telecom industry since the last 19 years. His experience spans across various industry verticals such as Marketing and Development, IT, BFSI (Banking, Financial Services and Insurance) across various geographies. This is the fourth in a series—Corporate Citizen brings to you the excerpts from the development session where Prasad shared some pertinent aspects of his profession and took the students through the telecom segment by giving them an insight on how telecom came into picture in India and how it is growing further By Vineet K
The first thing I want you to tell is don’t look at this industry as representing telecom. Telecom, that is the first thing that I really want to put forward. Telecom has moved definitely to once a bigger area to multiple bigger areas and we call it the Information and Communication Technology area — the ICT space. So when you say communication or telecom, it is one part of the ICT platform. What I mean is, communication, yes, telecom companies are involved in communication. Is telecom around technology area? Yes. You will understand how much of technology is being produced, bought, or used in telecom infrastructure; therefore, you know how important that becomes. Regarding the information part of it, I am not saying that we are software companies, or we are the IT part of the
world but definitely anything to do with analytics, artificial intelligence, cognitive analytics, all that, which is across industries—definitely are more or less born and brought up of so called telecom category of companies.
History of telecom
Let us see what has happened in the last 10-15 years in India. We have seen things evolve. From 1995-2000, voice part came into existence, this is purely mobility breakthrough happening, we were moving out of textile part. India adapted to the voice part, and then the first privatisation took place. Later, government decided to put privatisation, therefore telecom industry started to see a series of investments come in, and luckily we were a part of it.
The period between 2002-2008 saw voice moving towards data, voice and data together came in picture; first time anyone heard the technologies like GPRS connections (General Packet Radio Service) and Edge networks—technologies came in. Some of you may not have the chance to look at the old Nokia phones, which were there at that time, then those phones started to move in the smartphone criteria, therefore it became the next move in the telecom industry. The third part from 2013-2014, was about data more than voice. Then you started looking at technologies like 3G, broadband-the wide line side of it, first time in India people talked about Mbps vs Kbps, people talked about more Mbs, 100 Mbs, 1000 Mbs, that actually evolved as a third category. June 1-15, 2017 / Corporate Citizen / 39
NHRDN Career Fest 2017 The one that you are seeing 2015 onwards is actually a ‘new-age’ category like 4Gs and 5Gs that are expected to come and now it is all in Gbs. We are talking data and video. So if there were two ‘V’’s to look at, one is voice from 19952000 onwards to now, video. I am just qualifying data as video, so there is voice and there is video. The entire journey is all about how the human behaviour has been moving around, because of technology, you get interruption in many ways. I don’t know how many of you will agree but, actually the technology is changing the behaviour or the new changing of behaviour to get the technology. It is the other one. There is lot of disruption happening. Therefore, I said that, this industry represents a lot of technological disruption that takes place.
What’s happening in the telecom world
Telecom has now redefined into something called as Information Communication Technology (ICT). So it is no more a telecom platform unless you substantiate. For example, annual turnover of T-Series company is close to 330-340 crores, on the other hand Wynk Music, which is under Airtel, has turnover around 1000 crores, and besides Gaana.com and others. Point being, if you are looking for a career in media or entertainment vertical or services vertical around this media set-up—a company within telecom growing in that manner and is digitally disruptive by saying put your music, put your likes, launch it and it is digital. I don’t know what T-Series is into except producing original voices and therefore why it is the next step as an organisation and that is why it is a part of ICT space. The second thing, which I want to say, is that you might have heard about Airtel Money and Airtel Payments Bank, this is the last 30-day official bank. Entire India starts with about 75,000 to a lakh accounts a day. Payment bank is doing 75,000 accounts a day and that’s just one account in payment banks. Why does that happen is because you are actually going straight with digital nature of the banking ecosystem that is happening, call it demonetisation or whatever. The reality is that banks have moved into mobile phone therefore the depth in which the mobile industry has penetrated—which is about a billion people having phones, and your mobile number is your account number. The pain of giving a photograph, filling of form, giving your details and records, then the bank will open the account in two days, is all gone now. That is what telecom is offering and not just being disruptive in music and media industry part of it. And among rapidly growing companies, we are becoming a fintech company. And it is rapidly going to grow possibly 1000 crore in the six months of the operation—the rapidness from a telecom side that will come. In 40 / Corporate Citizen / June 1-15, 2017
“The youngsters that you are today combined with the kind of opportunities that India creates, vis-a-vis the GDP growth and the growth rate, the important part is that you stay in the country to demonstrate what’s actually going to change and be a part of that change” the current situation, you will find two non-related expansions that telecom companies have done. One is the music, video and the entertainment part the other part is the fintech part, which is the payment part or the banking part.
Telecom is the heart
Genuinely if you look at telecom, one good thing that has happened in the entire world, it is the most penetrated vertical in the world when you look at manufacturing, entertainment, IT,
services, media, or if you look at any other that are peripherals of this entire ecosystem. The heart of all these sectors lies in the telecom. The telecom carries the entire networking. You can’t have Facebook without Airtel or vice versa. If you don’t have a good telecom infra you can’t even use Facebook. In many ways it is actually the highway where many events take place. In the portfolio, I spoke about payments bank that is one category in the telecom side and this is one of the most powerfully driven and most exciting zone. If you are looking for infra set-ups, for example let’s say people who want to join the companies like L&Ts—pretty much not those in range but definitely that kind of approach. Therefore, if you are looking for infra as a category for your career to start, you still have a choice to join telecom and get your career started. And you should join telecom because there are multiple things happening in the telecom world, which is not just pure telecom but beyond that.
tainment and telecom. It is a wide spread career portfolio that you can choose from. We have some of the app ecosystems. The world is now moving towards app ecosystems. On an average, one mobile might have 10-15 apps be it Hike, Paytm, books, or anything else, you will find this only on the mobiles. With all this, mobility becomes your lifestyle; mobility becomes the only equipment in the entire world.
Prepare for digital
I think one important category—this is more to really make you prepare and make us pre-
India’s telecom landscape by 2020
We spoke about the payment part of it; there is Paytm and other fintech companies that are coming in, which I have spoken about. I think more importantly, I will put forward this one as a big weapon. This will create disruption because you have now Aadhar Card so you are authenticated as citizens of India and it is going to be one of the biggest weapons to surge the banking portfolio. There are many other ways to really look at Aadhar Card integration, be it public distribution of Aadhar Card. Seventy per cent of our subscribers are moving towards the smartphone part of it. India is changing— by 2020, people in India will be more educated, smarter, and more available.
Future is you
The youngsters that you are today combined with the kind of opportunities that India creates, visa-vis the GDP growth and the growth rate, the important part is that you stay in the country to demonstrate what’s actually going to change and be a part of that change. The trump card India has is the youth that is under 25 years. Many young countries are rapidly growing ecosystems by technology. India is going to be a $3 trillion economy. I think, all is set for a telecom industry to really utilise the opportunity and therefore combine the last thing I told you—the industry goes to fintech or to digital or to enter-
pare—somewhere the talent that I represent or the generation that I represent cannot be necessarily going forward. What could be relevant is the digital nature of the manpower that you get. I believe that the disruption is two ways. One is that half of the companies will be run almost by robots, which will wipe out the requirement of physical manpower. The other side is, people who run this part which is the craigslist part of the company, therefore the digital talent is very different. If there was a talent score ever asked to HR it would be, what is the digital IQ of a person rather than the usually used IQ score. That’s the nature of things, which will be visible to us.
Multiple features for growth
Just to give you a perspective as an organisation, you have beliefs that we have been very core to our telecom, that it is a career of multipliers. For example, a new person from Unilever says, “I start in the FMCG sector, I start selling soaps, then I will start selling some shampoos”—it is very incremental in nature. Whereas in a career of multipliers, you will be doing a rural market stint in a prepared environment, which is like an FMCG and you suddenly change to the express category of dealing with corporate clients as one category. The other is that you are dealing
with products and services for consumers and then suddenly change to express part. There are many multipliers in terms of giving you the kind of growth you are looking for. Now if you ask the academia on how are they preparing the students, they will say there is an engineering portfolio and therefore there is specialisation. We talk about core technologies and then they actually give a three months, six months in an academy and industry connect. You ask any HR, they will tell that many organisations start rebooting their entire candidates. And if you ever join Tatas they have induction programme for almost a year, because they really have to prepare you for a Tata culture, Tata set-up, Tata products and services and so on. Therefore, imagine what is important for creating future critical skills. And therefore, I will request you that as today case studies are being digitally available, courses and set-ups which I am sure you will be going through, that is something I want you people to adopt. Even though you are from technical background, that doesn’t stop you from understanding what goes in to those case studies. There are a lot of digital portfolios which you can see. For example, there is a book on how flipkart grew. You can really pickup and know how futuristic you are in terms of knowledge and what is expected. You will have organisations, which will have specialised people like doctors and scientists. You can’t really be changing them; in any kind of an organisation or an industry like ours it needs more functional leaders than business leaders, therefore there will be more areas where you will need more functional leaders than business leaders. vineetkapshikar@gmail.com
CC
tadka
Infy to hire 10k Americans IT giant of Indian origin, Infosys, has announced that it will hire as many as 10,000 locals in the USA in the next two years. The move has been initiated keeping in mind the H1B visa issue. Infosys also aims to set up four technology and innovation hubs in the country.
June 1-15, 2017 / Corporate Citizen / 41
Frankly Speaking
Having an
identity
important for me
is
Mini Menon, Immediate Past Chairperson, CII Western Region - Indian Women Network and co-founder and Editor of Indy Network interacted with Amruta Fadnavis, Associate Vice President, Axis Bank and First Lady of Maharashtra on what it is to be a working woman along with playing the role of the wife of Maharashtra Chief Minister, Devendra Fadnavis, at a CII Womenation Conference held recently. Corporate Citizen was on the spot By Vinita Deshmukh
Mini Menon: What made you stay on as Associate VP, Axis Bank even after your husband Devendra Fadnavis became the CM of Maharashtra?
Amruta Fadnavis: I started my banking career when I was twenty three and a half years old. I believe a woman should have her own identity. No matter, whatever she is good in, in whichever sphere she has talents in, she should develop it and hold on to that. So having an identity is very important for me. I have seen my mother working hard, inspired by my father with his roaring practice in ophthalmology. She is a gynaecologist; she still works and manages home. I had an idol before me in her; I had to follow her footsteps.
You have a responsibility to your constituency and now as Chief Minister’s wife, you have to travel a lot. So is it harder for you to do the balancing act?
What you are saying is right – especially after marriage and after having a kid, it is very difficult to hold on to a demanding job. But if you have that burning desire to continue, and you should have that because your kids definitely will grow up and they will back you later in your life, you will hold on. Plus, you have to mentally grow in your life to set an example to your own child. So it is important for you to hold on to the job with some help, maybe even domestic help. Mentally you need help from your partner, from office, at times, you may need to give up one or two pro42 / Corporate Citizen / June 1-15, 2017
motions if need be. I feel you should hold on to what you are best at, because that gives you the right reason to live.
Could you elaborate on your transition from Nagpur to Mumbai?
In fact, it was a cosy life in Nagpur-the distance from home to office was just five minutes and I could go home for lunch. The places were familiar and it was a life I was used to, during the ten years after my MBA. But after coming here, starting from the distances, to the traffic jams, to the new people who met me and they met me with agendas (which I used to come to know later), I was kind of lost. I used to ask myself as to whether I was on the right track. Later I sorted it out myself. I really hit on to my priorities and that helped me regain my composure, so it takes time for any change to get absorbed.
Do you also have fights with your husband regarding issues of work-life balance?
We do not have fights as such, but we have arguments and naturally, I win most of them.
Now that he is Chief Minister, does he have time for his daughter?
In fact, Devendraji doesn’t get to see her, at times for two to three days in a row. This is also because she sleeps early. So for this Father’s Day, she had insisted that at least she would like to see
him in the concert. He too was convinced. With other fathers being there and he not being there would have been a setback for her, so he made it possible and went. Otherwise, he gets less time with her since we have come to Mumbai. She is used to it now or she understands that her father is working for the people and her daadi and naani are there for her, also her mother is there to spend quality time, so she is now used to it, and she has accepted that positively.
They say that there is a woman behind every successful man, but they also say that there are at least three women behind every successful woman− would you agree to that?
I believe a successful woman needs lots of women and men behind her to make her super successful and anyone, who is successful has the right people at the right place. I believe asking for help should not be a problem with women. Wherever we need help, we should ask for it or earn it. So everywhere, as you said, grandmothers are of great help, they are nurturing your children, actually. Today’s working women are not able to give time to their children; it is the daadis and naanis who play a very important role. If it’s possible to stay together happily it is always advisable to have both daadi and naani in one place.
Why is it important for women to work?
We speak about women’s empowerment, we
Pics: Yusuf Khan
my husband-he is nothing else other than the chief minister, so he is doing well. He is doing exceptionally well according to me. I feel that I am happy being a mother, a singer, a banker, social worker but I am not expecting too much from any of these roles. It gives me satisfaction that I am able to pull all these things together.
You travel extensively with your husband in the interiors of Maharashtra. So what is your sense of women there?
In the interiors, even today it is difficult giving birth to a girl child. The mother-in-law, or at times other family members don’t want the girl to be born. To counter that we have schemes like ‘Majhi Sukanya Bhagyachi’ where they are incentivised to have girl children, for which they receive gold coins or certain bank deposits which grow to one lakh rupees when the girl turns 18. Some change can come with such schemes, but finally it is the mindset that has to change. The situation is much better in urban areas, but there are problems of physical abuse, domestic abuseeven in cities. It is all about the mindset. Only women helping women, men standing behind them, strong women standing behind them will make a difference, plus create more examples.
I cannot imagine a better role model for women than you, because you have done such a fine job. What are you thinking when you talk to women in your constituency?
speak about equal rights, how would that come unless we show that we are mentally equal? So we have to keep working, we have to set examples for our children because they have to see their parents working equally, contributing equally, having equal rights in the family. Then only will they grow up as good individuals.
Do you get annoyed when people make the mistake by starting off with talking to you about your husband and not about you?
Generally, I send my resume and tell them to introduce me properly. It’s not a problem.
How did you work out the balance between his and your responsibilities?
To manage this, which is a rare phenomenon, you have to be flexible. I cannot think I can balance my life with him now, like having cosy dinners or going for a movie with him. I keep
no expectations from him. I do my work; I let him do his work. I am there for him whenever he needs me. I try to make up for him whenever he is not there. At this point of time there is nothing like balancing-it is just managing and managing happily.
Recently I adopted a village in Nagpur. That is not in our constituency. I visited that village a few times and I purposely went there in salwar suits. I told them how they should be exposed to life and showed them the dreams. I recently walked for New York Fashion Week as a showstopper for an institute where 50% of the women are daughters of farmers and porters. These girls designed clothes and we presented them at the New York Fashion Week. I tell these girls stories about how well women are doing everywhere, and how they should be inspired. They have fire in their bellies, they need a little bit of push and they can do well.
A lot of young women said you don’t need to balance every day, there are days when our career is more important than our family and days when our family is more important. Do you think it is a generation change?
Do you think one of the main things is also creating the imagery of women role models who are actually not film stars or great Olympians but regular women who are achieving small things in a big way?
I feel when a woman is balancing, she is doing ten things at a time. That does not take you to the top; so personally I can say that I am a jack of all trades. I am not great at banking. I am good at singing, I am good as a mother, but I wouldn’t say I am great and I do not expect that from life. Life is all about expectations. If you want to achieve something, you have to be after it. Like
In fact, we need regular women on the highway. It is because of Shika madam that I did not leave my job when I had my daughter. She was my role model; she was there, so I could strive somewhere. We need women role models with whom women can identify, normal women who can show the way to other working women. vinitapune@gmail.com June 1-15, 2017 / Corporate Citizen / 43
Swiss kiss
All aboard Abroad
The
Though her professional stint in the beautiful country of Switzerland was short, Deepti Gujar believes that it taught her a lot about work code and ethics. She travels back in time and recapitulates her memories of working in the land known for its cheese, chocolates and snow-capped mountains... By Namrata Gulati Sapra
As different as chalk and cheese
“I worked as a software professional in Zurich, Switzerland for almost a year”, Deepti Gujar begins by telling us. Without much ado, she drives home the point that the Swiss work culture is different than the Indian one in every way possible. “The Swiss are celebrated the world over for their punctuality. They value and respect time. People are ready in the meeting room with the necessary equipment such as laptops etc, five minutes before the meeting is to start!” Of the dress culture prevalent in the country, she says, “People usually wear radical western casuals to work as opposed to the conservative dress up we do in India for work. Clients in Switzerland would even show up in very revealing clothes at times, though otherwise, they would usually dress up in a way that reflected sophistication. 44 / Corporate Citizen / June 1-15, 2017
The two countries are worlds apart when it comes to the work timings as well, “People generally leave their office for home by 5 pm. Many of my colleagues also had days when they would leave the workplace at 4 pm for about three days in a week! But as Indian counterparts in the foreign land, we were instructed not to call clients either beyond 5 pm or on weekends. The personal time of an individual is highly respected in Switzerland.” Though she doesn’t say it outright, one can guess what aspect of the Indian work culture she is hinting at. She elaborates on the Indian managers working in Switzerland at her workplace, “Professional growth was possible only if the Indian managers allowed it. The Swiss managers, were somehow, far more encouraging of growth.” Once again, she gives out a piece of information with sheer
frankness that seems to come naturally to her, “The Indian counterparts indulged in a lot of politics and had issues with those that the Swiss managers showed open appreciation to.” What about competition? She quells our curiosity, “There seemed to be more of a sense of collaboration than competition to climb up the corporate or hierarchical ladder.”
Being non-Swiss in corporate Switzerland
She sheds light on an interesting fact and does not mince words while stating it, “The workload in the IT firm that I worked at was decided by the Indian managers. The Swiss managers are way more conscious about keeping the workload light in comparison to their Indian counterparts, who are work-
aholics and always striving to do more in little time.” Switzerland is a melting pot of cultures and it is well known that German is widely spoken in the country. Deepti vehemently validates that, “The German culture is largely present at Swiss offices. Very much in line with the German work culture, professionals are given a dose of criticism with as much honesty as they are provided appreciation. In my personal opinion, just as the criticism was very factual and objective, so was the appreciation.”
Freedom for all
“Our relationship with the boss or superiors was usually a friendlyprofessional one. The superiors would try hard to build rapport with the juniors and seemed genuinely interested in getting to know them”
Deepti is rather appreciative of the open culture prevailing in Switzerland as far as work is concerned, “Our relationship with the boss or superiors was usually a friendly-professional one. The superiors would try hard to build rapport with the juniors and seemed genuinely interested in getting to know them.” She shares an instance from her own personal experience, “I was even invited to participate in singing a jazz song with them in their private band!” Imagine choosing your own working hours. Sounds like a dream, doesn’t it? Well, in Switzerland, it is a reality, as Deepti puts it, “I could choose my working hours provided...” she builds suspense in the atmosphere, “I complete my work and be there for them when my team was working.” Now that is a genuine expectation! If that isn’t enough freedom already, wait till you hear this, “The European counterparts show immense respect for weekends and holidays and follow a no-work policy whatsoever on days like these!” How will a work experience in the country of the Alps add to her professional expertise in India? She replies emphatically, “It is looked up as elite by people in India!” Full points there! namratagulati8@gmail.com
Points to ponder
Got Switzerland on your mind? But if the mention of the country brings Bollywood to your mind, let Deepti acquaint you with the real Switzerland before you land yourself in a sticky situation! Dress to impress “Dress stylishly, paying particular attention to shoes and hair style if you want to work in." Mind the culture
“Indians in general need to understand how to do handshakes well, since there are particular greeting styles for particular countries. For example, my Dutch and French managers gave three kisses on either cheek as a greeting. Indians could learn to build rapport and how to hold general social conversations and pleasantries at the beginning of a meeting because they are going to be working in alien culture, home to many other cultures.”
Leave your emotions home.....
“Another way the culture in the country is very different is the way appreciation and
criticism are given or handled. We must learn how to take and give appreciation as well as criticism without letting emotions get in the way. Remember, you are working with them, so it is only natural for people to be very cut and dry during feedback time. Don't take offense with factbased constructive criticism.” ...And your ego too: If one is in sales, then one has to truly understand the difference between negotiating and bargaining. Indians tend to bargain which is an attitude of “either I win or you win” whereas negotiation is coming to a midpoint where both parties can benefit.” But take your opinion along: “In the country, having opinions is respected-people expect you to have your opinions rather than say a subservient “haanji” or have the yes boss attitude.
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Indians prefer short holidays than big breaks Short holidays have become a norm with Indians with 58.3% respondents of a Yatra. com survey opting for a 5-15 days trip, 27.1% for less than 5 days and 58.3% for 5-15 days. Top three destinations are Himachal Pradesh (15.5%), Goa (14.6%) and Ladakh (8.4%).
June 1-15, 2017 / Corporate Citizen / 45
Campus Experience
A Princeton graduate student reminisces Sarthak Parikh finished his schooling in Delhi from Sardar Patel Vidyalaya and graduated from IISER Pune in 2012. At present, he is pursuing a PhD in theoretical particle physics from Princeton University in USA. He talks about his early exposure to research, teaching methods at Pune and Princeton and a lot more. Excerpts from conversation with alumni-writer By Vikesh
You joined Indian Institute of Science Education and Research Pune (IISER) in 2007, when it was completely new and mostly unknown. Why did you join?
I was very intent on a career in research in physics or math, but coming from a family of mostly non-academics, I did not know much about how one went about with it. I used to dearly hope joining an engineering programme would be the first step in that direction, because I was preparing for the engineering entrance exams! I first read about these new institutes called IISERs, which were starting in 2006 near the end of my eleventh grade, and it really struck a chord with me. So I applied to IISERs through the IIT-JEE stream, but by the time I learnt I had been admitted, it was August and I had already taken admission in Delhi College of Engineering (DCE) and also attended the first day of the term! My parents were a bit uneasy about me cancelling admission to a known engineering college and joining an unknown institute, but very supportive of my choice. When I joined IISER Pune only two weeks later, I was very excited but honestly had no idea how it would all turn out. But I am very glad I chose to come here. IISER Pune is a wonderful, upcoming institute which is getting known more and more with time, and I wanted to do this interview because I hope more students come and join these institutes!
How did you find the course structure?
I think it was good, overall. During my first two years here, the courses were compulsory, and were meant to be introductory, covering the basics in a broad range of subfields in physics, math, biology and chemistry, as well as some interdisciplinary topics, and included labs. The course structure was evolving rapidly during the early stages, as IISER experimented with what worked 46 / Corporate Citizen / June 1-15, 2017
best. For example, our very first course in math was in group theory – shockingly abstract and absolutely unfamiliar to many of us. Not the most welcoming present for us, and many tears were shed! Personally it was a struggle, but it was still a serendipitous early exposure to a beautiful branch of mathematics. Things were very flexible during the third and fourth year – when more advanced courses were offered. You had the freedom to sign-up for any combination of courses from any subject you liked, which fit in the timetable and met the minimum credit requirement. There was also a requirement during the third year of having at least one course from outside the discipline should you choose to take all courses from a single discipline. This was great, I think. Besides the advanced physics courses on offer, I went for an advanced math class and a quantum chemistry class. It was also fun to audit other interesting classes in math. One should still keep in mind that although there were no department specific requirements in Pune, if I wanted to go to graduate school in say physics, I’d be better off having taken all the standard physics courses which were offered.
IISER prides itself as an institute that combines teaching with research, in the later years. Were there some courses that introduced you to research methods and so on?
We were encouraged to join a lab or a theory group and get started with extra reading or research during the first two years. Besides that, in the third and fourth year, students had the choice to credit something called a “theory/ reading project” course. This course provided the perfect opportunity for students to work with faculty members on a semester long reading or research project, while having it counted towards
their credit requirements. This was a great way to learn more about a topic, something you might not have inside a classroom. Also this was a great way to get exposure to research at an early stage. I really liked this and chose this course every semester. In my case I worked with the same faculty member, Sudarshan Ananth every time, so this meant I had two years of official reading projects leading to research, as part of my curriculum. Additionally, the fifth year was devoted entirely to a research project towards an MS thesis, with no required coursework. The students had the freedom to work with any faculty anywhere in the world. I chose to continue working with Sudarshan Ananth. As I had begun doing reading projects with him starting in my second semester, the course structure at IISER gave me a chance to continue working with him for four and a half years in total. This allowed me to spend ample time on reading projects and get a first exposure in research work, at my own pace.
Did your education in Pune play a role towards building a research mindset?
Yes I believe it did. I had little idea about what a PhD was when I joined IISER. The courses at IISER and working with my advisor for over four years during my undergrad really helped me get a flavour of what research can be like. This included tangible things like learning physics, getting a peek
at research in theoretical physics, and helping me plan my next steps towards graduate school after the masters at Pune. There are also many intangible things that I tried picking up over time.
What do you mean by these intangible things?
I think the common undertone could be that research is very different from sitting for an exam, or solving problems from the back of a book – in both cases solutions to the problems are known to exist, well unless you are Stokes asking students to prove what later became known as the Stokes’ Theorem! Let me give three examples. One of them is learning that it’s
month from a problem when I was stuck on one of the steps. Later, when I came back to it with a fresh mind, the solution came to me almost immediately. This is incidentally another benefit of working long-term with the same faculty member – the pressure of finishing something in time can be stressful sometimes and may actually impede further progress. As a third example, another intangible thing I learnt about was the importance of communicating science in general and one’s research in particular, both spoken and written — with your collaborators, your peers, and a broader audience. It’s an essential skill and worth spending time and effort on. These are just some examples.
Here the qualifying exams comprise of three requirements – a minimal course requirement, a preliminary written exam, and an experimental project oral. The preliminary written examination, lovingly called the Prelims, tests you on your advanced undergraduate classical mechanics, electrodynamics, statistical mechanics, and quantum mechanics. These are offered about four months into your first year, and involve solving challenging problems from each subdiscipline in a timed exam setting. I think the coursework at Pune provided sufficient background needed to prepare for this exam. I needed to brush up on my undergraduate knowledge and learn some advanced techniques here and there, but I don’t think any of us firstyear graduate students had to take any undergraduate classes at Princeton to prepare for it. The best way to prepare for the prelims was to solve prelim problems from previous years. We used to work together in groups for that – it really helps!
Once you are done with these requirements for the qualifying exams what happens then in your PhD?
When I joined IISER Pune, I was very excited but honestly had no idea how it would all turn out. But I am very glad I chose to come here okay to experience tough phases when you are working on a research problem and not making significant progress – which happened with me. One must not be discouraged but keep on striving, and hacking at the problem in different ways – maybe one of them will present a way out, maybe there will be none. It takes time, hard work and many failed attempts to build an intuition for what could be a good research problem and devising ways to approach it – and giving up because one is initially struggling is the last thing one should do! A second related example is learning that sometimes it helps to take your mind off a problem and work on something else during that time. For example, I once took a break for a
There are other equally important things such as being honest, learning to be critical of your own work, and learning to enjoy doing research. I was fortunate to get exposed to things like these at IISER and also while working with my advisor on research projects. I think he always led by example, and by being around him I may have picked up some of these by osmosis.
Do you feel the Pune coursework prepared you well for your PhD programme? Most PhD programmes have some kind of qualifying exams, how were yours? Was the Pune coursework sufficient or did you have to take more courses there?
Research. You have begun talking with faculty, and working on projects. There is a great culture in the department, and the graduate students get to talk and work with amazing post-docs and faculty in the department, as well as at the Institute for Advanced Study which is just a mile away. A lot of collaborations take shape and graduate students are encouraged and given the freedom to be an active part of this process. Eventually you want to become an independent researcher, and I think the programme helps you work towards that.
Also as a PhD student, you must be helping out with courses at Princeton. How are the undergraduate courses at Princeton different from the ones at Pune?
I think they are more structured and much more intense than they were in Pune. I’m not really well-versed with the undergraduate course structure at Princeton, but I believe students have a lot of flexibility in choosing courses here. They have a year or two to declare what their major will be. As far as physics undergraduate courses go, I have been a Teaching Assistant (TA) for freshman mechanics and electromagnetism courses at Princeton. These courses are offered at varying degrees of difficulty and depth.
What are your further plans after PhD?
In the short-term, my plan is to be a post-doctoral research fellow after graduate school. In the long run, I wish to have an academic position as a theoretical particle physicist, and continue doing research while possibly also teaching. (This interview is originally published on https:// iiseralumnistories.wordpress.com) June 1-15, 2017 / Corporate Citizen / 47
Loved & Married too It is not often these days that a college romance fructifies into a wedlock. Corporate Citizen unlocks the story of love that has culminated into marriage, for we believe in the stability of a relationship and family unit. We bring to you real-life romances that got sealed in marriage
Prioritizing togetherness Charu and Nishant Sharma on the importance of flexibility, prioritizing and planning to keep it all together: namely rewarding careers, the warm glow of home and bringing up their son Yug By Kalyani Sardesai
It’s
the little things that count, and the small moments that add up. And the cake Charu Sharma cut on their last anniversary says it all: a prettily decorated piece of confectionary featuring all the dates that mean something to the couple... “Such as the day we met, the day we went on our first date and so on,” smiles Charu fondly. But gestures like these are far from uncommon in their marriage, especially from Nishant’s end. “He is involved, creative and very thoughtful. His gifts and gestures go well beyond the materialistic,” she expresses. In other words, keep the romance alive. Married for over nine years, the Sharmas (both 34) are the quintessential young corporate couple, juggling demanding careers, home and their bundle of joy—five year old Yug. Currently based in Noida, Nishant works as Automation Manager with Nestle, while Charu is a project coordinator with Altram Technologies. Even though it’s a demanding time, given that they are a nuclear family with a very young child, the Sharmas point out that everything is manageable with time, effort and planning.
How it all started
This love story dates all the way back to their 48 / Corporate Citizen / June 1-15, 2017
Both have a simple mantra that keeps them going. “Trust, in a relationship, is pretty much everything,” says Nishant. “Everything follows from that space-communication, togetherness and mutual respect”
MBA days at BITM. Both were pursuing their degree in Marketing and Telecom, and as is wont to happen, cupid wasn’t a long way off. “We were both on the student council,” narrates Nishant. “I was the discipline coordinator and she, the placement coordinator. Naturally, we had plenty of opportunity to interact,” he shares. He, especially, remembers the time they went to a faculty member’s birthday party. “I was struck by her openness and simplicity,” he says. For her part, Charu liked him for his maturity and poise. “He is a man of few words, an introvert, but is very disciplined and committed to all that he undertakes. I cherish these qualities in him,” she says. “On the other hand, I am the extrovert, who hits it off with people instantly. As they got talking, they realized the conversation flowed naturally and easily. “We are actuthe two of them are back from office. ally very different people,” says Nishant. “North Weekends, though, are complete family Pole and South Polewould not be a wrong analtimes. “It’s important to give your loved ones ogy. But what is important is that we click well that time,” says Nishant. “Don’t bring work together.” home.” And so, after a formal date together, he Despite the burden of responsibility that inpopped the question. “On message, if you evitably comes with a nuclear set-up, they insist please!” grins Charu. “I asked him, if it wasn’t it’s not too difficult. A shared value system defitoo soon? To which he replied that I had a long nitely goes a long way in ensuring a measure of line of batch mates, and he did not balance and harmony. “What helps want to risk losing me.” is the fact that we have known each other really long. Three years of Taken aback, she nevertheless courtship, followed by almost a told him that she needed more decade of marriage,” says Charu. time. A month and a half-later, she accepted. “I told my mother “Nishant is very much a hands-on straightaway. But he wanted to dad, who helps out with Yug,” she Trust wait until he got placed before adds. Even as he chips in: “Yes, we letting his parents know. He felt were both particular about the fact A relationship it would make more sense that that parenting had to be a joint partgrounded in way,” she says. nership, not just mamma’s problem.” friendship Not much opposition on the To that end, they take turns parental front, either, given that playing with, and baby-sitting Yug Sharing both are North Indians and Brahensuring there’s always a parent responsibilities mins: she hails from Kanpur, around. “For instance, these days, while he’s a Marwari brought up she is pursuing these weekend Prioritizing what’s in Ahmedabad. The duo were wed classes that will go on for the next important at that in Feb 2008. couple of months. So it’s important particular point in to manage my schedule in such a time way that she can pursue her acaThe building blocks of a demic goals too,” says Nishant. marriage Even with all this happening Post marriage, the couple had in their lives, the couple makes it a point to get to endure a year of separation as he was with away—just the two of them—every once in a Nestle, Baroda, and she with Bharati Telesoft, while for an evening out. “It’s hugely important, Mumbai. She joined him a year later, and soon as with a young child, you tend to lose out on the couple moved to Ahmedabad, where Charu time with your partner,” says Charu. worked with The Times of India. Both have a simple mantra that keeps them Post baby, though, she opted for a two and a going. “Trust, in a relationship, is pretty much half year sabbatical. “Yes, it was a break in my everything,” says Nishant. “Everything follows career, but I did not want to leave such a young from that space—communication, togetherness baby in a crèche. Nishant, of course, was very and mutual respect.” supportive—both when I quit, as well as when Apart from which, Charu says it’s hugely I rejoined.” important not to let fights escalate. “Both lose Currently, she’s back at work—a choice made out in such a scenario. It is, therefore, pretty easier considering that Yug is cared for by her important for one partner to stay calm in those mother and brother’s family post school, until
The Pillars of a Marriage
moments when the other is upset over something. Friction is a fact of life and it’s up to us not to make a big deal of it, but to deal with it and move on,” she says. “Avoid carrying fights over to the next day.” So what do the two of them say about the increasing divorce rates today, especially in the corporate world, where relationships are perceived to be short-term and fleeting? “Honestly, it’s up to the couple concerned to decide where to draw the line, and when and where and how to prioritize. And priorities need to change as per the need of the hour. Everything works out provided you are flexible enough to go the distance for your family,” rounds off Nishant. kalyanisardesai@gmail.com
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45,000 Beliebers in Mumbai concert! That the tickets for Justin Bieber’s concert in Mumbai on May 10 sold like hot cakes even for ` 76,000 is a known fact. But can you guess the number of people who showed up at the concert? 20,000? 30,000? Nope, the actual number far exceeds your guess! 45,000 is the correct answer. Needless to say, hours before the concert there was a massive traffic jam.
June 1-15, 2017 / Corporate Citizen / 49
Startup India Survey Startups are all the rage around the world. The entrepreneurship bug is biting everyone hard these days, and India is no exception. But how exactly does a startup work, and where does India figure on the global scale? Leading professional services network Grand Thorton has conducted a Startup India survey to answer there burning questions. Corporate Citizen brings you the findings By Neeraj Varty
Startup is the latest buzzword in entrepreneurship. Most people are familiar with the word, but tend to have a vague idea at best about what a startup actually entails. So what exactly is a startup? A startup is a young company that is beginning to develop and grow, is in the first stages of operation, and is usually financed by an individual or small group of individuals
Definitions of startups
A startup business is defined as an organisation: • Incorporated for three years or less • At a funding stage of Series B or less • An entrepreneurial venture / a partnership or a temporary business organisation
A startup is defined as a business that: • Engages in development, production or distribution of new products, processes or services • New and existence for not more than five years • Revenue of up to INR 25 cr. • Is not formed through splitting or restructuring
According to an Infosys Co-founder, a startup is defined as a business: • Within the first three years of its existence • Employing 50 people or less • Revenue of INR 5 cr. or less
50 / Corporate Citizen / June 1-15, 2017
Ind 3rd i
s k n a r a di s p u t r a t S in
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Startup India Survey Startup financing life cycle A startup usually goes through three stages in its life cycle, before becoming a publicly traded company on the stock market.
Funding by Angel Investors stage Early stage startups rely on angel investors and seed funding • Invest solely into the entrepreneur with an idea • Does not bog down the entrepreneur with any corporate governance formalities
Venture Capital stage • Used to scale the company’s business mode • Comes from larger institutional funds • Focus is on building the sales force and establishing a global presence
Startup funding process Startups require an initial investment, which does not give immediate returns. If the startup is successful, there comes a point where sales of the startup rise to the point of profitability, but the initial investment carries a lot more risk than in any other investment instrument.
Public markets Venture capital
s Sale
stme
Grants
Inve
Angels
nt
Seed funds
Risk
Concept
Startup
Growth
Expansion
52 / Corporate Citizen / June 1-15, 2017
Public Markets Stage • Late stage startups can feel the need to expand more aggressively or actively innovate the product • Private equity funds together with public markets provide large amounts of liquidity to late stage startups
India is amongst the top five countries in the world in terms of startups The US is the country with the largest number of startups at 83,000. China comes second followed by India with over 10,000 startups. The UK and Canada finish the list at 4th and 5th position respectively. Although China is at number 2 when it comes to startup numbers, The US is 8 times bigger than China, and more than twice the aggregate of all the other countries in the world.
3rd Largest
9%
India is 3rd largest startup hub
9% of total startup founders are women
28 Yrs.
800 to 2,000
Average age of startup founders is 28 Yrs.
Current state of Indian startups
Average no. of new tech startups have moved from 480 in 2010 to 800 in 2015. Expected to increase to 2,000 in 2020
4,300 to 11,500 Total Tech startups are expected to increase to 11,500 in 2020 from 4,300 in 2015
India has a large demographic dividend, so the average age of startup founders in the country is 28, which is quite young. When it comes to demographics, 91% of startup founders are male, and only 9% are women.
40%
The number of incubators has grown by 40% to 110 during 2014-15
Metro cities
50% (approx.)
Majority of startups and/or investors are from Metro cities
Approx 50% growth in share of female entrepreneurs in the last 12 months
43% (approx.) # approx 43% of total startups are Tech-based
Stringent regulatory/policy atmosphere
60% (approx.)
Complex tax environment
approx 60% of new jobs were created by SMEs during 1993-2013
Double doubled in the last 12 months
Indian startup industry composition India has 4,300 tech startups and 5,700 non-tech startups. E-commerce is the largest tech startup industry in India, constituting 33% of the total.
India compared to other countries India has the highest amount of tech startups (4,300) after the US (48,500). India also has the biggest red tape, with the set-up days being 30-60, as compared to just 4 in the US. India also has the highest bank lending rate at 10.3% for startups, the highest in the world.
Total startups
10,000 (approx.) Startups
4,300 | 5,700
% Share
43% | 57%
New startups annually
800 | N.A
E-commerce............: 33% B2B.........................: 24% Consumer internet...: 12% Mobile apps............: 10% SaaS.......................: 8% Other.......................: 13%
Technology based startups
Engineering................... : 17% Construction.................. : 13% Agri products................ : 11% Textile........................... : 8% Printing & packaging..... : 8% Transport & logistics..... : 6% Outsourcing & support.. : 5% Other............................. : 32% Non-Technology based startups
India
China Israel
Total no. of startups (~) Tech-based startups Non-tech based startups Set-up a new business (Days)
10,000
10,000
4,750
N.A.
N.A.
83,000
4,300
3,400
4,000
N.A.
N.A.
48,500
5,700
6,600
750
N.A.
N.A.
34,500
30-60
30
13
2
10
4
Corporate tax rate
34%
25%
26%
17% (100% tax exemption for startups)
34%
39%
33
9
TBD
TBD
TBD
11
10.3%
5.6%
3.9%
5.4%
1.2%
3.3%
0.85%
1.90%
4.20%
N.A.
3.40%
2.80%
No. of tax payments by businesses (p.a.) Bank lending rate R&D spending % of GDP (Est. 2014)
Singapore
Japan
US
neeraj.varty07@gmail.com June 1-15, 2017 / Corporate Citizen / 53
Health
Tasty too, healthy too Meghana Narayan and Shauravi Malik are co-founders of a young health food company: ‘Slurrp Farm,’ which is making a business of healthy eating, especially for children. Here’s their take on food, health, and a host of related issues… By Sharmila Chand
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T
They are both mothers of very young children and have experienced the trials and tribulations of feeding them. They are passionate about raising awareness about healthy eating for children. When they had their own children, they said that, they felt an acute need for food options where they could just read the ingredients on the back of the label and trust them to not be junk food. And so ‘Slurrp Farm’ (www.slurrpfarm.com) was born from the kitchen of two mothers who love to cook. “Our mission is to provide healthy snack and meal time options for young children and their parents and we ensure our recipes are high on nutrition, made from whole grain flour, millets, good fats like butter, real fruit and vegetables. Our aim is to revive traditional superfoods such as the vast variety of millets available in India.” Before they started Slurrp Farm together, Meghana used to lead the public health practise at McKinsey India. She has an MBA from Harvard Business School, was a Rhodes Scholar at Oxford University and has an Engineering degree in Computer Science from Bangalore University. Meghana swam competitively for India for many years, including at
to achieve your fitness goals. And it’s not simply about just working out – you need to eat right as well. Shauravi: Just keep moving. Be active and do something every day that makes you sweat.
What keeps you fit and healthy?
Meghana: I really enjoy swimming with my daughter in the summers and I also do yoga regularly with my fitness mentor and ensure I eat clean. Shauravi: I try and work out as often as I can. Between a start-up, a young child and work travel I do find it hard to do it as often as I would like. Also, I ensure I eat mainly home-made food.
Your stress busters?
Meghana: Definitely cooking! Shauravi: Dancing with my girlfriends and watching films.
Your food philosophy?
Meghana: Eat clean as far as possible Shauravi: Eat seasonal and local. Set a weekly meal plan which will ensure you pick up all the right items when you go grocery shopping.
Our mission is to provide healthy snack and meal time options for young children and their parents and we ensure our recipes are high on nutrition, made from whole grain flour, millets, good fats like butter, real fruit and vegetables. Our aim is to revive traditional superfoods’’ the Asian Games and she sincerely hopes that better nutrition for India’s children will result in more Olympic gold medals! Shauravi used to work for Sir Richard Branson’s Group Holding entity at the Virgin Group in London, and in the Consumer, Healthcare and Retail Investment Banking team, as well as the Leveraged Finance and Restructuring Advisory team at JP Morgan in London. She has studied Economics at Cambridge University and at St Stephen’s College in Delhi University. Her most memorable years were the 14 that she spent at her school, Sardar Patel Vidyalaya, which followed a no junk food philosophy way back in the good old 1980s! CC, in conversation with the ‘healthy’ entrepreneurs, on food, health, and a host of related issues…
Your philosophy on fitness
Meghana: I believe fitness is an integral part of our lives, and aim for strong…not skinny Shauravi: I try and make fitness more fun by involving my three-year old son in our daily exercise routine.
Your idea/mantra about keeping fit?
Meghana: No pain no gain – You have to work hard
Your exercise fundamentals?
Meghana: It’s not fun if you’re not sweating Shauravi: Have a routine and stick to it. Make it a nonnegotiable priority.
Your diet fads?
Meghana and Shauravi: Eat wholegrains, good fat, preservative-free food, natural sugars and ensure you get the critical micro-nutrients.
Your yoga (or anything else) regime?
Meghana: I swim regularly in the summers and do yoga four times a week in the morning Shauravi: My husband and I are both into High Intensity Interval Training (HIIT) – I manage to do it twice a week but it’s a bit of a struggle with all the workpressure and travel. Meghana and Shauravi: Our husbands, though, beat us hollow!
Your ‘healthy dose’ parting shots?
Meghana and Shauravi: Always eat your greens and stop asking why healthy is so expensive and start asking why junk food is so cheap. chand.sharmila@gmail.com June 1-15, 2017 / Corporate Citizen / 55
Pearls of Wisdom
By Dada JP Vaswani
Wellness Is A Choice Hippocrates, regarded as the father of modern medicine, lived four centuries before Christ. Even he taught his students to observe the emotional state and the general background of their patients, for he knew that health could be affected by the mind
G
ood health has been described as the complete integration of body, mind and soul. Grey Anderson, an eminent American counsellor calls good health “wellness” – he says “wellness” is a choice, a decision that we all have to make in order to maximise our life’s potential. Wellness encompasses all the major areas of our life – the physical, emotional, social, intellectual, vocational, and spiritual spheres. Wellness sets a new standard for life – it calls for continuing improvement and self-renewal in all areas of our life. Wellness is much more than the absence of illness. It is total well-being in body, mind and spirit. Health and happiness are twin goals that mankind has always pursued. Many of us know that we must be healthy in order to be happy; but very few of us realise that we must strive to be happy in order to be healthy! Since the beginning of the 20th century, we have accepted what is known as psychosomatic unity of the human being. ‘Psyche’ means mind or soul; ‘soma’ means body. Thus, the psychosomatic concept tells us that we are not just bodies – but an entirety that includes body, mind and spirit, functioning in a symbiotic relationship in which a separation is impossible to make. The World Health Organisation (WHO) defines health as “a state of complete physical, mental and social well-being – and not merely the absence of disease and infirmity.” To this we must add, spiritual well-being – without which a feeling of ‘wellness’ is incomplete. The sad fact of the matter is that people take good health for granted. They don’t even think about their health until they are in danger of losing it – when illness and disease begin to threaten. Even then, they go to a doctor or a hospital, and think that this is all they have to do about it. This reminds me of the words of the great 56 / Corporate Citizen / June 1-15, 2017
This reminds me of the words of the great comedian, Charlie Chaplin. He said: “When I fall sick, I go to the doctor. After all, the doctor has to live! The doctor writes out a prescription for me and I take it to the chemist – for the chemist too must live! The chemist gives me medicines – but I don’t take them, for I too must live!
comedian, Charlie Chaplin. He said: “When I fall sick, I go to the doctor. After all, the doctor has to live! The doctor writes out a prescription for me and I take it to the chemist – for the chemist too must live! The chemist gives me medicines – but I don’t take them, for I too must live!” I must offer due apologies to doctors and chemists who are reading this. But I am sure they too will see the point of the joke – you are your own healer. The power of healing is within you. And the time has come when doctors too have realised that they must work not on the disease and its symptoms – but on this principle of healing that is within each one of us.
It was Dr Johnson who said: “To preserve health is the moral and religious duty of us all – for health is the basis of all social virtues. We can no longer be useful when we are not well.” Longevity is not the primary goal of human life. We are told that life expectancy has increased in our times, and this is attributed to better health care and the advances made in medicine and allied sciences. But a longer life is not what all of us seek. A life of pain and disease and affliction can only be a miserable burden, when it is prolonged. Thus, we have the cases of incurable diseases, and people who are ‘clinically dead’ being put on lifesupport systems in the ICU’s of hospitals. This is hardly the kind of treatment or ‘life’ that we aspire to! Take the case of a man who is not really ill. He may not suffer from any disease - but he may feel dull, lethargic and listless. He may be unhappy, and beset by negative emotions. Such a man is not really healthy. True health and well-being encompasses man’s physical, mental, intellectual, and spiritual state. When there is harmony and integrity between all these states, a man is in good health. This is the concept of holistic health that we need now. Throughout history, wise men have been aware of the relationship between right thinking, positive attitudes, good habits and good health. Hippocrates, regarded as the father of modern medicine, lived four centuries before Christ. Even he taught his students to observe the emotional state and the general background of their patients, for he knew that health could be affected by the mind. He taught that to be truly healthy and whole, a person must be at peace with himself and in harmony with the world around him.
CC
tadka
Hospital infections affect 14 out of every 100 patients admitted Of every 100 hospitalized patients at any given time, 7 in developed and 10 in developing countries will acquire health care-associated infections (HAIs). Hundreds of millions of patients are affected worldwide each year. Simple and low-cost infection prevention and control measures, such as appropriate hand hygiene, can reduce the frequency of HAIs by more than 50%. (Source:WHO)
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Bollywood biz
s ’ a m e n i C Indian t u a n r e g g u Biggest J The Baahubali franchise has seen the emergence of the first truly pan Indian film franchise, and the impact it has had on Indian cinema cannot be overstated. This issue, we take a look at the history making run of the biggest blockbuster in Indian History - Baahubali 2 By Neeraj Varty
B
aahubali the beginning was an ambitious film when it released, and it went on to set the box office on fire, collecting `650 crore worldwide in its theatrical run. Perhaps more significantly, it went on to establish a brand new category of films, by becoming the first true pan Indian movie. Before Baahubali, most movies would be hits in 58 / Corporate Citizen / June 1-15, 2017
certain territories, while going unnoticed elsewhere. Superstars like Shahrukh Khan and Rajnikant would set cash registers ringing in their own markets, but would not do business of the same stature throughout the country. Baahubali changed all that, becoming the first Indian movie to unanimously achieve success in all the states of India. It was fitting, then, that Baahubali 2 would become the most anticipated movie in Indian history, and it certainly didn’t disappoint.
Records set by Baahubali 2 1. Highest advance booking EVER
The movie raked in nearly `36 crore through advance bookings alone, beating Aamir Khan's Dangal (18 crore).
2. Largest screen count
The movie got the largest screen space in India, being released to 9000 screens, beating Salman Khan's record with Sultan (4350 screens).
3. Highest opening day occupancy of 2017
The movie beat Shah Rukh Khan's Raees' 70 percent occupancy with a massive 95 per cent.
4. Highest opening day occupancy EVER
Its occupancy matched the likes of those of Prem Ratan Dhan Payo and Dhoom 3, but pulled ahead because of a higher screen count.
5. Highest opening day of 2017
The movie netted `121 crore on its very first day! This blew past Raees's 'measly' 20.4 crore.
6. Highest opening day gross EVER
The movie's `121 crore easily blew past the 50 crore Baahubali: The Beginning pulled in.
7. Fastest to enter the 100 crore club
By entering the club on its very first day, it easily surpassed the time Baahubali: The Beginning took (2 days). Ever since its release on April 28, Baahubali 2 has been busy creating and breaking records. If people queued for hours outside the theatres to get the tickets to the most-awaited film of the year, others went berserk making online bookings days before its release. Such has been the craze around the film that BookMyShow ended up selling 12 tickets per second for this masterpiece. Keeping in mind the huge craze around Baahubali 2, the makers wanted it to be a perfect experience for the fans. And that's the reason that the film was released in 9000 screens across the world, making it the first film to get this big a release. With theatres having as many as 40 shows in a day, the film has been released in 6500 screens in India only. Baahubali 2 became the first film ever to cross `100 crore on its opening day (It grossed `121 crore, the previous record being `45 crore for SRK starrer Happy New Year). The film, which was made in Tamil and Telugu and dubbed in Hindi and Malayalam, shattered records with its opening day collection. It has since become a landmark film at the worldwide box office, by collecting over `1000 crore in 10
8. Highest opening day collection by a Hindi dubbed film
The movie surpassed the first part to claim a record `41 crore on day one with just the Hindi dubbed version.
9. Highest collections through the Tamil, Telugu and Malayalam versions on day one The film earned `80 crore through the Tamil, Telugu and Malayalam versions on day one.
10. First Indian film to top Thursday night preview charts in America
The film even managed to rock the American box-office with $2.5 million, blasting past the likes of Fate of the Furious ($1.9 million), Beauty and the Beast ($661K) and Boss Baby ($562K).
11. Highest Day 2 collection EVER
Baahubali 2 earned a staggering `102 crore on day 2, pulling in a massive two day total of 223 crore.
12. Biggest Day 2 of 2017
The movie easily managed to make its `102 crore the biggest day 2 of 2017.
days. It is the first Indian film ever to touch the magic figure of grossing over 1000 crore worldwide, out of which roughly `800 crore has come from Indian domestic theatricals, and the rest from overseas markets. The Hindi dubbed version of SS Rajamouli's magnum opus collected `41 crore on its opening day making it the biggest opening for a dubbed film. The Hindi version alone has crossed `300 crore and is racing towards `400 crore — a new record for a Hindi film. And the US market, dominated thus far by the three Khans, Baahubali 2 became the first Indian film to do a business of `100 crore. It has beaten Dangal’s $12.4 million to rank as the number one (Indian) film in the US. It had the third-biggest foreign language debut ever in the United States, only behind two Jet Li martial arts films. Baahubali 1 and 2, were both made on a combined budget of `250 crores. Baahubali 1 made `650 crores, and Baahubali 2 has already crossed 1000 crores by day 10, which might make the combined collections of the franchise to cross 2000 crore in total during the lifetime, which makes for a nearly a 10 time return on investment, an unheard of phenomenon in India. Globally, only a few films like Avatar ($2.7 Billion on a $237 million budget), Titanic ($2.17 billion on a $200 million budget), and Star Wars the Force Awakens ($2.06 billion on a $300 million budget) have managed to get such a high return on investment. SS Rajamouli, the director of the Baahubali series, has already hinted at a sequel to Baahubali 2 on the cards. If that materializes, it is sure to become an even bigger blockbuster, making the already biggest movie franchise in Indian history even more humongous. Till then, let’s take a look at some of the records set by Baahubali 2. (in the adjoining box) neeraj.varty07@gmail.com
CC
tadka
B for Baba Can a Baba turn the fortunes of a brand? Obviously not but curiously yes. For, after posting a turnover of `10,561 crore in last fiscal, Baba Ramdev is now targeting a ten-fold jump of ` one lakh crore in next five years for his Patanjali FMCG products. “While foreign firms in India don’t give anything in charity, we donate 100% of our profits for charity,” he claims, adding that he may soon set-up a Cow Research Centre in Gujarat. Though formal announcement will be made on June 21, it seems Ramdev is a better guru not just of yoga but also of branding and strategising.
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Mobile apps
Best Apps to your Live Stream favourite content As internet speeds become faster in India and life gets busier, a large section of the population prefer streaming their favourite sports, tv shows and films rather than watching them on TV. Now that most mobile networks offer 4G internet at throwaway prices, you can download these apps and live stream your favourite content for free By Neeraj Varty
Hotstar
Zenga TV
Ditto TV
There is no alternative to Hotstar when it comes to streaming Star network channels on Android and iOS. Indian tv channels such as Star Plus HD, Star Sports 1, 2, 3 or Life OK etc are owned by Star India, which also owns Hotstar. Also, Hotstar is the only app which live streams IPL matches. For cricket fans, this is a must. Hotstar is free to use, with a delay of one day to watch tv serials and a delay of five mins in case of live sports streaming. The premium version of Hotstar is free of all such limits.
Zenga TV presents a range of Indian television channels, which plays through your default media player. There is a variety of channels from shopping channels to movie and news channels available. The streams, once loaded are quite clear and the sound in good too. Some channels are in English and some in Hindi. This is perhaps a great app to keep in touch with Indian television on the move, although these are freeto-air channels and no option to get paid-for premium channels.
Ditto TV provides live tv channel streaming for all major channels such as Colors HD, Sony, SAB and Zee TV. The app contains streaming guides too so that you can easily check which channel is trending and tune in to the currently trending programme. Besides this, Ditto TV also provides catch-up of your favourite shows of up to seven previous days, so in case if you even miss an episode or two you can directly stream it from the archives.
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Jio TV Jio TV is perhaps the most youngest and dynamic entry in this list. If it wasn’t just restricted to Jio users then probably it would have been first on the list! Jio TV works on Jio 4g and provides live tv channel streaming of over 300+ Indian tv channels. The app not only includes live streaming of number of channels but it even includes an unlimited catch-up of channels unlike the seven day limit in Ditto TV. Thus, it is practically a library of all the TV shows you want to watch from the start to finish right in your pocket. Jio TV provides live tv channel streaming and catch-up even for local language channels, however the recorded catch-ups aren’t available for movie channels and sports channels. Jio TV is the most comprehensive free live streaming app available.
Claps & Slaps Corporate Citizen Claps Kerala for being the first Indian state to declare Internet access as basic human rights. It is already the most literate state With this attempt to connect one and all, it has now added yet another ‘literacy’ feather to its hat. Kerala is already the most literate Indian state. Food, shelter, education, water and internet are the basic rights for every citizen in Kerala. The state budget in Kerala has made provisions through a project that aims to provide internet connections free of cost to 20 lakh poor families; and at subsidised rates to others. This directive is in line with the UN recommendation that every country should make ‘access’ to internet as ‘Fundamental’ human right. “Internet will now become a right for the people and within 18 months the internet gateway would be set-up through the K phone network at a cost of one billion rupees,” said Thomas Issac, Finance Minister. In the government’s mission for a cashless and digitalised economy, the Kerala government has once again paid heed to the common man’s needs for knowledge via literacy pursuit that is often a change maker in a highly diversified population. The proposed project will be facilitated via a new optical fibre network, dubbed K-FON which would be created parallel to the existing Kerala State Electricity Board’s (KSEB) electric power network at a cost of 1,000 crore. The government’s idea is to deliver internet connectivity with a limited bandwidth to individual households through this optic fibre network. The 18-month duration project would also involve the creation of Wi-Fi transmission centres at government offices, public places, libraries, Akshaya centres and Janasevana Kendras. This attempt at connectivity for all is not a one off agenda by the Kerala government. Kerala government was also the first state in the country to link all its villages with broadband connectivity through National Optical Fibre Network (NOFN) project back in 2016. With Kerala piggy riding on its success points from its literacy drive to its’ latest attempt to digitalise an entire state will most likely ensure to maintain Kerala’s stature as ‘God’s Own Country’ – while ushering in the ‘World’ at its feet.
Corporate Citizen Slaps mob frenzy attacks on foreign nationals in India while condemning racial attacks on Indians in foreign land. Is it mere racial biases that provoke humans to harm and bully others due to a lack of understanding of each other’s cultures in an open world? Do self-believing individuals have the social ‘right’ to reprimand others without following any legal dictate? The recent attacks on African nationals near New Delhi were mentioned as “deplorable” by Indian Foreign Minister Sushma Swaraj who promised an “impartial” inquiry into the attacks. She also assured of a “fair and impartial investigation” into the incident. While senior police officer Sujata Singh mentioned the act as “racially motivated,” this incident was definitely not a standalone stray incident. Reports state that in the past three years in a row, India has been in the news for racist attacks against African nationals. And the reasons for the attack might vary from lack of understanding of ‘cultural’ nuances of foreign nationals who reside in India for business, education or medical treatments. Sadly, the attacks, in which Nigerian nationals were allegedly thrashed on the basis of biases based on stereotyping them perhaps raises a notion on India’s inability to impress upon other countries to prevent race-related attacks on people of Indian origin. Racially driven attacks on Indian nationals cry sore of attention for prevention of such attacks. But, can ingrained prejudices be rectified by documented legislations? The death of an Indian techie from Telangana state who lost his life to gun violence in the US, when he was shot at by a US Navy veteran; who allegedly wanted him ‘to get out of his country’ before firing the fatal bullets, brings in insecurity in a world governed by peace talks. His death came close on the heels of another Indian victim, in California. This is definitely worrying in an era when globalisation is seen more of a ‘technical’ connection which has perhaps left out human ‘bindings’ or mutual respect. While open platforms in a technical world bring information pathways closer – ‘human’ platforms have become bereft of tolerance in a society that demands instant gratification in life and death (committed by others). Whether it was the a Congolese national who was stoned to death in a road-rage dispute in Delhi, in May 2016 or Srinivas Kuchibhotla in Kansas, who was pumped down by the U.S. veteran; the meaning to justice and tolerance need to be sunk deep into the psyche of one and all and until it happens, understanding the lives of victims who succumb to hate-ism and those who inflict it, needs definitely to be ironed out for futuristic international human goals! Definitely not a simple proposition, this? (Compiled by Sangeeta Ghosh Dastidar) June 1-15, 2017 / Corporate Citizen / 61
Dr Dr (Col) (Col) A A Balasubramanian Balasubramanian
From From The The Mobile Mobile
My Mother
This is truly a beautiful piece. For those lucky to still be blessed with your mom, this is beautiful. For those of us who aren't, this is even more beautiful. For those who are moms, you'll love this. The young mother set her foot on the path of life. "Is this the long way?" she asked. And the guide said, "Yes, and the way is hard. And you will be old before you reach the end of it. But the end will be better than the beginning." But the young mother was happy, and she would not believe that anything could be better than these years. So she played with her children, and gathered flowers for them along the way, and bathed them in the clear streams and the sun shone on them, and the young mother cried, "Nothing will ever be lovelier than this." Then the night came, and the storm, and the path was dark, the children shook with fear and cold. The mother drew them close and covered them with her mantle, and the children said, "Mother, we are not afraid, for you are near, and no harm can come." And the morning came, and there was a hill ahead, and the children climbed and grew weary, and the mother was weary.
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But at all times she said to the children," A little patience and we are there." So the children climbed, and when they reached the top they said, "Mother, we would not have done it without you." And the mother, when she lay down at night looked up at the stars and said, "This is a better day than the last, for my children have learned fortitude in the face of hardness. Yesterday I gave them courage. Today, I've given them strength." And the next day came strange clouds, which darkened the earth, clouds of war and hate and evil, and the children groped and stumbled, and the mother said, "Look up. Lift your eyes to the light." And the children looked and saw above the clouds an everlasting glory, and it guided them beyond the darkness. And that night the Mother said, "This is the best day of all, for I have shown my children God." And the days went on, the weeks and the months and the years, and the mother grew old and she was little and bent. But her children were tall and strong, and walked with courage. And when the way was rough, they lifted her, for she was as light as a feather, and at last they
came to a hill, and beyond they could see a shining road and golden gates flung wide. And mother said, "I have reached the end of my journey. And now I know the end is better than the beginning, for my children can walk alone, and their children after them." And the children said, "You will always walk with us, mother, even when you have gone through the gates." And they stood and watched her as she went on alone, and the gates closed after her. And they said, "We cannot see her but she is with us still. A mother like ours is more than a memory. She is a living presence......". Your Mother is always with you.... She's the whisper of the leaves as you walk down the street; she's the smell of bleach in your freshly laundered socks; she's the cool hand on your brow when you're not well. Your mother lives inside your laughter. And she's crystallised in every teardrop. She's the place you came from, your first home; and she's the map you follow with every step you take. She's your first love and your first heartbreak, and nothing on earth can separate you'll. Not time, not space... not even death!
Who is your fallback?
Punny Scientists In response to the invitation for a rather unusual reunion of all-time greats. ☞ Newton said he'd drop in. ☞ Socrates said he'd think about it. ☞ Ohm resisted the idea. ☞ Boyle said he was under too much pressure. ☞ Darwin said he'd wait to see what evolved. ☞ Pierre and Marie Curie radiated enthusiasm. ☞ Volta was electrified at the prospect. ☞ Pavlov positively drooled at the thought. ☞ Ampere was worried he wasn't current enough though alternately none were. ☞ Audubon said he'd have to wing it. ☞ Edison thought it would be illuminating. ☞ Einstein said it would be relatively easy to attend. ☞ Archimedes was buoyant at the thought. ☞ Dr Jekyll declined - he said he hadn't been feeling himself lately. ☞ Morse said, "I'll be there on the dot. Can't stop now, must dash." ☞ Gauss was asked to attend because of his magnetism. ☞ Hertz said he planned to attend with greater frequency in the future. ☞ Watt thought it would be a good way to let off steam. ☞ Wilbur Wright accepted, provided he and Orville could get a flight. ☞ Dr Sigmund Freud couldn't help but give it the slip!
People help you the way they know to help you. To help you to come out of stress, one friend will ask you to drink and another will ask you to meditate. To overcome hurt, one friend will ask you to take revenge and get even, and another will ask you to forgive and get ahead with your life. ‘Who is your fallback’ makes all the difference. Duryodhana’s predicament, in his own words, was, “I know what is right but I am not able to indulge in it. I know what is wrong but I am not able to avoid it.” He needed a fallback. His fallback was his uncle Shakuni, and resultantly, Duryodhana moved from bad to worse. Arjuna’s predicament was different. He was allowing his personal emotions to dominate his sense of duty, and hence wanted to escape from the responsibilities he had towards upholding righteousness. He needed a fallback. His fallback was Krishna, and resultantly, Arjuna was restored to his greatness. Humans we are, at some point or the other, we all need a fallback. ‘Who is your fallback’ makes all the difference. Choose Well. June 1-15, 2017 / Corporate Citizen / 63
astroturf Love makes news this month as your emotional well-being becomes important to you. There is foreign travel and increased earnings. Singles will attract and encounter romantic opportunities.
Aries
Mar 21 - April 20 Greatest days: 8 Hectic days: 3, 4, 10, 11, 12 Honey days: 3, 4, 10, 11 Money days: 3, 4, 10, 11, 13, 14 Profession days: 9, 10, 11, 12 Keep a tab on your moods and emotions and do best to keep yourself positive. Getting a new perspective on your diet will help you a lot. Your love relationships remain strong and supportive of all your plans.
TAURUS
April 21 - May 20 Greatest days: 1, 2, 10, 11 Hectic days: 5, 6, 7, 13, 14 Honey days: 1, 2, 5, 6, 7, 10, 11 Money days: 1, 2, 3, 4, 13, 14 Profession days: 9, 13, 14 Health remains excellent as no short-term planet is stressing you out. Venus moves into your sign which will bring job opportunities. On the 6th mercury enters your money house, a harbinger of many good things happening.
GEMINI
May 21 - June 21 Greatest days: 3, 4, 13, 14 Hectic days: 1, 2, 8, 9, 15 Honey days: 3, 4, 8, 9, 10, 11, 13, 14 Money days: 3, 4, 13, 14 Profession days: 5, 6, 15 Confidence and self-esteem will be at a rise and others get attracted to your persona. Love remains status quo and singles should just enjoy friendships without making any serious commitment. Investing in latest technologies is worth all your pennies.
CANCER
June 22 - July 23 Greatest days: 5, 6, 7, 15 Hectic days: 3, 4, 10, 11, 12 Honey days: 9, 10, 11, 12 Money days: 3, 4, 13, 14 Profession days: 4, 5, 15
(www.dollymanghat.com)
Fortune favours the bold and the lucky
Your attitude is your altitude, says Dolly Manghat, our renowned Astrological expert and believes she helps people create their own prophecies rather than live predictions Do not depend upon others to make the changes that bring happiness for you. It will be much easier to do it in these two months. Later on the situation might change and making changes will actually become difficult.
LEO
July 24 - Aug 23 Greatest days: 8, 9 Hectic days: 5, 6, 7 Honey days: 9, 10, 11, 13, 14 Money days: 1, 2, 3, 4, 13, 14 Profession days: 10, 11 You are entering a period of independence and personal power. It’s nice to have friends and a happy social life but these ties bring in obligations and work. Personal power gets limited. Career remains important.
VIRGO
Aug 24 - Sept 23 Greatest days: 1, 2, 10, 11, 12 Hectic days: 8, 9, 15 Honey days: 5, 6, 10, 11, 15 Money days: 3, 4, 10, 11, 13, 14 Profession days: 1, 2, 13, 14 Your career activities will be intense and the month ahead looks very successful especially from the 6th onwards. Mercury the ruler of your horoscope is at the top of your chart, which gives you confidence to call the shots the way you would like to.
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LIBRA
Sept 24 - Oct 22 Greatest days: 3, 4, 13, 14 Hectic days: 10, 11, 12 Honey days: 4, 5, 10, 11, 15 Money days: 1, 2, 3, 4, 5, 6, 7, 10, 11, 13, 14 Profession days: 3, 4, 13, 14 Career is the main headline this month. Love planet Mars enters 10th house. The Sun’s entry into 10th house shows importance towards social and networking.
SCORPIO
Oct 23 - Nov 22 Greatest days: 5, 6, 7, 15 Hectic days: 13, 14 Honey days: 10, 11 Money days: 3, 4, 8, 9, 13, 14 Profession days: 3, 4, 13, 14 Listen to your body when it prompts that it is enough. It is a great month to pursue those interests and you will experience much success. Good time to get rid of useless material in life.
SAGITTARIUS
Nov 23 - Dec 22 Greatest days: 8, 9 Hectic days: 1, 2, 15 Honey days: 1, 2, 10, 11, 13, 14 Money days: 3, 4, 9, 10, 11, 12, 13, 14 Profession days: 1, 2, 13, 14
CAPRICORN
Dec 23 - Jan 20 Greatest days: 1, 2, 10, 11, 12 Hectic days: 3, 4 Honey days: 3, 4, 10, 11, 13, 14 Money days: 3, 4, 9, 13, 14 Profession days: 3, 4, 10, 11 Mercury is moving very quickly so the health needs will also change rapidly. Venus travels with your financial planet bringing in financial increase and sudden career opportunities.
AQUARIUS
Jan 21 - Feb19 Greatest days: 3, 4, 13, 14 Hectic days: 5, 6, 7 Honey days: 3, 4, 10, 11, 13, 14 Money days: 3, 4, 5, 6, 13, 14, 15 Profession days: 1, 2, 5, 6, 7, 10, 11 On the 6th Venus moves into your 4th house. The planetary power shifts from the East to the West, moving away from you. This is the apt time to let go off self.
PISCES
Feb 20 - Mar 20 Greatest days: 5, 6, 7, 15 Hectic days: 1, 2, 8, 9 Honey days: 1, 2, 10, 11,13,14 Money days: 3, 4, 8, 9, 13, 14, 15 Profession days: 3, 4, 8, 9, 13, 14 Your 4th house of home and family is still strong this month. Continue to focus on home life. Good health these days means good emotional health. Often solution to problems come when you let things go. Address: 143, St Patrick’s Town, Gate# 3, Hadapsar IE, Pune-411 013. Tel.: 020-26872677 / 020-32905748 Email: connect@dollymanghat.com/ info.dollymanghat@gmail.com
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CRADLE OF LEADERSHIP
PROF. SUDHIR K SOPORY, VICE CHANCELLOR, JAWAHARLAL NEHRU UNIVERSITY (JNU) Volume 1, Issue No. 21 / Pages 68 / www.corporatecitizen.in
January 1-15, 2016 / `50
CORPORATE CULTURE
Chanda Kochhar, MD & CEO, ICICI Bank on women in leadership and gender diversity
INTERVIEW
An in-depth interview with Vishal Parekh, Marketing Director India with Kingston Technology and Rajeev Bhadauria, Director, Group HR, at Jindal Steel & Power
Dynamic Duo 21 MEERA SHANKAR AND AJAY SHANKAR
UNFLINCHING SUPPORT
June 1-15, 2017 / Corporate Citizen / 65
the last word
Ganesh Natarajan
Fast, Focused, Flexible, Friendly and Fun The five Fs have always had relevance for individuals and organisations and in today’s world, following these tenets can open up the path to innovation and success despite multiple odds
T
wenty-five years ago, as I entered my first CEO stint at Aptech, our young team decided we needed a cultural framework that would inspire and motivate our employees, franchisees and students. We chose five Fs – Fast, Focused Flexible, Friendly and Fun. That mantra has been my way of leading and managing ever since – ten years at Aptech, fifteen at Zensar and the last one year building an entrepreneurial meta start-up focused on Digital, Skills and Social Enterprises – 5F World! The five Fs have always had relevance for individuals, organisations and societies but in today’s world, buffeted by the multiple forces of protectionism, automation, digitisation and jobless growth, following these tenets can open up the path to innovation and success despite multiple odds. Digital transformation has led to the creation of new customer journeys for most corporations and innovative learning paths have enabled new employee journeys in many firms. New learning journeys are also an imperative for youth who have to retrain themselves for the challenges of a changing world. In such a context, the virtues of thinking and moving Fast and maintaining total Flexibility in approach cannot be overemphasised. Speed is of essence to capture and sustain leadership in existing and new segments
cus on common goals and served as the glue to bind the organisation together to achieve stellar results in key focus verticals like retail and markets like South Africa. Having nailed the core cultural facets that impact business results directly, it’s good to remember that in a high-tension environment, the value of the final two Fs, Friendly and Fun cannot be overemphasised. This culture enables organisations to bind their associates together and generate common bonds of camaraderie and teamwork that are the surest way of building successful organisations. At Aptech, an organisation where the average employee age
of business and openness to new ideas and new desires of digital natives and millennials will create the flexibility needed to adapt business models to new realities. For youth entering the job or entrepreneurial arena in these times, the virtues of Fast and Flexible are equally vital, since it will enable them to look for the right opportunity from a galaxy of options and grab those that offer the most excitement and best likelihood of reward. In this ever-changing environment, what is the value of Focus? While on the face of it, it may seem that being While flexibility keeps too focused will put an individual or organ- one’s mind open and the isation at odds with intent should be there to flexibility, the reality quickly adapt to seize new is that Focus and Flex- opportunities, nothing is ibility are two sides of ever achieved without a the same coin. While strong sense of purpose flexibility keeps one’s mind open and the in- and the ability to focus tent should be there to quickly adapt to seize new opporwas 24, we found myriad ways to tunities, nothing is ever achieved have fun, both at work and beyond without a strong sense of purpose it. The rooftop rain dances every and the ability to focus. In the month where every Aptechite from companies that I have run, it was Chairman to newest trainee would incredible focus that got Aptech let their hair down and bond are to a market leader position in over still the subject of many alumni disforty countries including China cussions and in spite of computer and it was a strong digital and training not being the most sought e-commerce focus that enabled after career options, we were able Zensar to record a market value to inject a sense of joy and purpose CAGR of 44 per cent between into every job and make every em2010 and 2015. Our one Zensar ployee enjoy the process of building initiative got the entire team to foa multi-national organisation in the
66 / Corporate Citizen / June 1-15, 2017
nineties. And at Zensar, our focus on Friendly was what truly enabled this organisation to start from the ashes of an old hardware company and build a culture that has no parallel in the industry. Harvard Business School has written an outstanding case on Vision Communities and the Associate Relations Function at Zensar, both of which were creations of a management team that truly epitomised friendliness and walked the talk when it came to making every one of our eight thousand plus employees and hundreds of customers feel part of one large and cohesive family. Friendly managers and a constant urge to design new dialogue and feedback mechanisms are part of the wish list of every human resource department but getting the formula right and making employees feel truly part of a Fun and Friendly culture make all the hard work needs to be Fast Focused and Flexible truly worthwhile. In every sector of business and industry and also in the young lives of students, there is stress and anxiety in these uncertain times. Inspired leaders will still lead their organisations to success through new strategies and strong orientation towards the success of all stakeholders and if the five Fs are embraced, there is no reason why individuals, corporations and countries cannot find and sustain a winning track! Dr. Ganesh Natarajan is Chairman of 5F World, Pune City Connect & Social Venture Partners, Pune.
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