Cement is not just what we all perceive. For a long time, it has been viewed as a commodity. This perception has changed. In the world of intense competition, cement has now become a crucial component of building solutions. So much so, branding has become an inevitable part of cement marketing. After consolidation of cement capacity, top players are shifting focus to position their brands strongly by roping in celebrities and sports stars. Bollywood star Shah Rukh Khan is the brand ambassador for industry leader, Ultratech. Not to be outdone, Damia Cement signed up another Bollywood star, Ranveer Singh, as its brand ambassador. A few years ago, JSW Cement brought on board former Indian cricket captain Sourav Ganguly and captain of India’s national football team Sunil Chhetri as its brand ambassadors. The India Cements, headed by industry veteran N Srinivasan, launched conkrete super king (CSK) as a game-changing cement. It was endorsed and powered by CSK’s iconic captain M S Dhoni’s Power of 7. Dhoni cement, as is called by dealers and influencers, CSK cement has become a hit in the last one year. With the construction activity at its peak on the eve of  Lok Sabha elections, there is bound to be intense  competition among top cement players  to garner more volume and market share . Not just the power of the brands but also the ability of the ambassadors to pull business will be under test now.

Even as farmers in Punjab and elsewhere are flexing their muscles to force the government to fulfil their various demands, their counterparts in Maharashtra and Madhya Pradesh are seeing a tenfold increase in their mean annual income per acre, thanks to the interventions of a Parli, Marathwada-based NGO working in agricultural development. An independent impact assessment study by the Centre for Excellence in CSR of the Mumbai-based Tata Institute of Social Sciences (TISS) has found that 1248 surveyed farmers’ average income had jumped from Rs 38,723 to Rs3,93,986 because of the initiatives of the Global Vikas Trust (GVT). The comprehensive report has been prepared by TISS based on a meticulous survey of these farmers, who represent 15% of a total of 8299 farmers in eight clusters within GVT’s operational domains in the two states. The focal point of the analysis was to assess the tangible effects of the NGO’s work among the farmers. Nearly two in every three of these farmers — 63.9% — had incomes below Rs 25,000, far lower than the average. Covering the project locations of Palghar, Nanded, Beed, Solapur, Osmanabad (Dharashiv) and Jalgaon in Maharashtra and Burhanpur and Dhar/Barwani in Madhya Pradesh, the study was conducted with the specific objective of evaluating the impact of agriculture development initiatives on the rural communities, analysing the stakeholders’ engagement with communities in the areas, and suggesting measures for the effective implementation of GVT’s activities in the focus areas. As the GVT tagline says: “India can wait no more!”

It was an iconic name once upon a time. This Tamil Nadu-based central public sector undertaking Hindustan Photo Films Manufacturing Company Ltd (HPF), however, failed to survive the test of time. HPF has long been consigned to the pages of history. Through the IBC (Insolvency and Bankruptcy Code) route, HPF went into liquidation when the official liquidator invited bids for its sale as a “going concern” with a “disputed leasehold land to an extent of 291 acres” late last year. A fast-emerging Chennai-based group, which is coming up rapidly in the healthcare space, is reported to have successfully acquired land and other properties owned by HPF through the auction process. This health care company a few months ago signed up to take over another Chennai-based hospital in a over Rs 125-crore deal. HPF was incorporated in 1960 in the backward Nilgiris district in Tamil Nadu. Its main plant is located at Udhagamandalam. The company’s photographic films were sold under the name ‘Indu’. The company’s operations have been at a standstill since June 2013. A combination of factors — from obsolete technology to weak marketing and high input costs — pushed HPF to the brink. The digital revolution proved the last nail in its coffin. The acquisition indeed pictures the propensity for expansion by this healthcare group.

When Santrupt Misra, HR Director of Aditya Birla Group quit his job after 27 years to join the Biju Janata Dal none of his close friends were surprised. Why? He had confided to them a few years ago that he wanted to return back to Odisha some day and was waiting for the right break to change his track. And that break came in 2021 when Odisha chief minister Naveen Patnaik appointed him as the Chairman of Ekamra Kshetra Lingaraj Temple Advisory Committee, an honorary position bestowed on him while he was still working with Birlas. The way Santrupt handled the Temple project — his foresight, strategic thinking, ability to communicate clearly and solving issues impressed Patnaik immensely. Likewise Santrupt was inspired by Patnaik’s vision, ideology and leadership style. For the uninitiated, Misra is Odia and Odisha is home state; he majored at Utkal University before taking the corporate plunge. His track record in the corporate world is impressive. He has worked with JK, TISS, Hindustan Unilever followed by the Aditya Birla Group. Incidentally, his wife Alka, chairman of the World Skill Development Council is based out of Bhubaneshwar. So it made imminent sense for Santrupt to return back to Odisha. Grapevine has it that he may be nominated to the Rajya Sabha seat or may opt for Lok Sabha seat either from Cuttack or Puri.

  Many companies who have got into the electrical vehicle (EV) manufacturing space are looking forward to the music of their cash registers ringing since the government announced its renewed push for such engines. Adding to the euphoria has been the report released in end-January by HSBC Global Research that hybrid vehicles are a practical midterm solution on the decarbonisation road. The smaller players like the Bengaluru-headquartered Altigreen Propulsion Labs, which was a pioneer in hybrids and has announced plans to move towards 100% EVs, is however being cautious in view of the biggies that are already in the field, like Mahindra, Bajaj, Piaggio and TVS. This David is trying to establish its footing in the last-mile transportation space, for electrically-operated cargo as well as passenger delivery vans. Along the way, the company raised Series A funding, which it says is the largest fund-raise from Indian venture and corporate investors by an electric 3W startup. The first investment into the Indian EV sector for all five funders – Sixth Sense, Xponentia, Reliance New Energy, Accurant USA and Momentum Singapore — is a reflection that EVs and last-mile transport have come into their own and are being studied, and investors are willing to take sizeable and long-term bets on them. Of these, Accurant — the investment venture of Bahman of Open Systems International, Inc. — is making its first India investment and promises to be a big player in EV charging infrastructure. As the government moves towards achieving its target of ‘only electric vehicles’ by 2030, will David beat Goliath again as in the original story?

The $ 23 billion JSW Group headed by Sajjan Jindal is making headlines in Odisha for its Rs 40,000 crore investment plans. The Group which has strong presence in Steel, Energy, Infrastructure, Cement, Paints, and Sports is setting up the world’s largest single location electric vehicle and EV battery plant, including component manufacturing to be located between Cuttack and Jagatsinghpur in Odisha. It is learnt that the Odisha government headed by Naveen Patnaik has approved a special incentive package for Jindal Group. Sajjan Jindal who has 35% JV stake in SAIC MG Motor India is likely to increase his stake to 51% stake since Chinese company SAIC MG cannot raise resources and scale operations due to regulatory restrictions imposed by India following strained relationship with China. SAIC MG has signed a JV with JSW to expand India operations. This explains why JSW plans to increase its stake to 51% stake in SAIC MG. Through advance planning and identifying initiatives backed by capital infusion, Jindal is keen to transform MG Motor India operations. JSW Group is spread across India, USA, Europe and Africa, employs nearly 40,000 people.

One has heard of gold being smuggled, and diamonds too, and drugs, and contrabands, and cough syrups even, but one must be completely nutty to even imagine smuggling nuts into the country. Yes, the Indian authorities are today faced with the daunting task of stopping areca nuts being smuggled into India, through the Indo-Myanmar border. No paan, gutkha or paan masala is complete without the supari — the areca nut or betel nut. The current areca nut market size in India is estimated at $ 0.92 bn, and is expected to touch $ 1.16 bn by 2029. Areca nut is mainly grown in Karnataka, Kerala, Assam, West Bengal, Tamil Nadu, Kerala, Mizoram and Manipur. For areca nut growers it is their only means of survival. Now, the illegal smuggling of the nuts from Myanmar has hit them hard. The reason for it being smuggled is the 100% import duty. And this illegal smuggling has crashed the local market. Earlier, a 50-60 kg bag of fresh areca nuts sold for Rs2,500-2800. Now, it is being sold at Rs 1,085. Complicating the problem is the fact that there is no way to distinguish the Indian nuts from the smuggled ones, in fact there is no competent authority which can differentiate the Indian nuts from the Myanmar-ese ones. And so, while the authorities chew on this nutty issue, the nut growers in India particularly those in Manipur and Mizoram are a distressed lot.

Much water has flown under the bridge since Valli Arunachalam stirred a hornet’s nest when she alleged gender discrimination to board positions at the Murugappa group. After a unilateral public spat, the daughter of late MV Murugappan (who was the chairman of CUMI) smoked a peace pipe with her family members to finally go her separate way after legal negotiations. Is there a gender bias at the Murugappa group? Not really if one were to go by the presentation made by MA Alagappan, chairman of AMM Foundation, which is a corporate social responsibility wing of the Chennai-based Murugappa group. Top women members of the family were prominently featured on the audio-visual which articulated the work of the foundation, which is celebrating its centenary. Each one of the women spoke with passion and in eloquent English. Insiders aver that the ladies at the group are intensely involved in the not-for-profit activities that directly touch upon the lives of the downtrodden. Be it in running hospitals or schools, the women folk in the family are right up there to provide the hand-holding.  “We would like to be felt and not heard,” said Alagappan, pointing to the works of the foundation over the last 100 years. Established in 1924, the foundation manages five hospitals and an equal number of educational institutions. Behind the successful running of the foundation are these ladies who quietly carry on the Good Samaritan work at the Murugappa group.

Interesting things have been happening in Marathwada, one of the erstwhile backward regions of Maharashtra. Industry took hesitant steps into the region’s capital city five decades ago to take advantage of the state government’s concessions for setting up manufacturing units in the backward area, led by Bajaj Auto which set up a full-fledged scooter manufacturing plant. The first problem it faced was getting executives to work in the plant – they needed homes, which it was simple enough to build. But they also had to have good schools in which their children could study. The Marathwada Industries Association – which morphed into the Chamber of Marathwada Industries & Agriculture – was established, and began to take steps to solve these problems. There were a couple of missionary schools, but the newcomers wanted their children to imbibe not just learning but the culture of the country to which they belong. The head honchos of Bajaj, electronics major Videocon, non-stick cookware pioneer Nirlep and paper manufacturer Nath group joined hands to set up what has evolved into a world-class residential school: the Nath Valley School. This was followed by a number of colleges: there are now 22 for engineering alone in Aurangabad and other parts of Marathwada. Along the way came the Marathwada Auto Cluster to cater to the training needs of the host of automotive and automotive companies and their ancillaries that came up in the area. More than 1,000 customers have used the organisation’s facilities to train their workers and students.

Odisha-based public sector giant the National Aluminium Company (NALCO) is one of the largest integrated Bauxite-Alumina-Aluminium-Power Complex in Asia. This 44-year old Navratna is getting into Lithium exploration and mining, the much sought after minerals globally. It is learnt that NALCO is making lead investment in Lithium exploration covering five Lithium blocks in Argentina supporting India’s ‘Atmanirbhar’ strategy. NALCO’s CMD Sridhar Patra was in Argentina recently to finalise the investment plans. NALCO’s move to get into lithium exploration, popularly known as white gold, comes at the back of India’s whopping lithium import bill of Rs 23,171 crore for FY 2023. NALCO in its exchange filing said that these five lithium blocks in Argentina will cover an area of 15,703 hectare will entail an investment of Rs 200 crore. The Indian government-owned Khanij Bidesh India Limited (KABIL) has signed an Exploration and Development Agreement with CAMYEN, a state-owned enterprise of Catamarca province of Argentina, for exploration & mining of five Lithium blocks in Argentina.. Sources say, India’s entry into Argentina is the first strategic move. The larger strategy is to get into the Lithium Triangle through tie-ups, acquisitions, partnerships and long term leasing of lithium reserves spread across Argentina, Chile and Bolivia.

Start-up regional carrier FLY91 has just signed its first agreement with an international operator, Dubai Aerospace Enterprise, to induct its first two ATR 72-600 aircraft. The Dubai-headquartered company is a global aviation services provider with over 35 years of experience, whose leasing and engineering divisions serve over 170 customers around the world. With this deal, signed between FLY91 founder Manoj Chacko — former vice-president of the now-defunct Kingfisher Airlines – and Dubai Aerospace chief executive officer Firoz Tarapore, takes the Indian company a step farther in its aspiration to make air travel accessible to every Indian. The professionally-funded airline’s vision is to enable the next 100 million Indians to take flight, with its focus on regional towns reflected in the selection of the ATR 72-600. These aeroplanes have been specifically chosen to enable efficient and sustainable operations from most regional airports in the country, serving tier-2 and tier-3 towns all over India. This also follows the flight path of the Indian government’s UDAN (Ude Desh ka Aam Nagarik) regional connectivity scheme, which aims to develop smaller regional airports to allow common citizens easier access to aviation services. The commercial operations are expected to begin in February. The airline, headquartered in Goa, was originally scheduled to take off in October 2023, with a plan to go national gradually in only about five years. It has obviously redrawn this plan. Fasten your seat belts!

Two 16-year-old school students, Hrishit Deb of K.R. Mangalam World School, GK-II, New Delhi and Sri Mansi Katuri from Emerson High School, McKinney, Texas, US have developed an app that offers career counselling. Called Kwicon, this app is aimed at empowering students with transformative education, practical experience, mentorship, and networking for personal and professional growth. This app was among top 400 innovations presented at the prestigious ATL Marathon 2022-23 which is Niti Aayog’s Atal Innovation Mission. Significantly, Hrishit pointed out that with Class 10-12 board examinations due in a month, students undergo stress and concerns about the fact that if they can’t get the desired marks what will be their career options. There are an increased number of mental health cases post examinations. A recent survey across schools in India says that a whopping 80% of students are clueless about what they need to do after the board examination.  Only 15% of students between Class 9 and Class 12 are sure of what courses to pursue. The survey also revealed that only 50% of parents have clarity about their children’s career path. Kwicon app allows students and alumni to connect based on shared interests, majors, and career goals.

Since acquiring the distribution business in Odisha three years ago, Tata Power has successfully reduced the AT&C loss levels in the State. Having ushered in an era of distribution reforms, its four discoms in the state are now focusing on community and youth empowerment through focused initiatives.  Under chief minister Naveen Patnaik Odisha is poised to witness exponential economic growth vis a vis increase in power demand. To ensure that this demand is met with reliable and quality power supply enabled by a skilled and industry-ready workforce, the company is focusing on skill development. It is ensuring that STEM students are equipped with relevant technical and operational skills aligned with the power industry’s changing requirements. Recently it signed a MoU with the Skill Development Technical Education Department of Odisha government to impart industry-level training to students enrolled in ITIs. Besides, the company is also empowering women in STEM to shine by offering a variety of roles and opportunities across its functions. Impressed by the work done by the company in MSME space, GRIDCO’s MD Trilochan Panda feels Tata Power’s consumer centric, social approach will create a vibrant socio-economic system in Odisha.  Likewise Tata Power’s T&D President Sanjay Banga is quite excited about focusing on technical education in Odisha. The company which is committed to invest Rs 6,000 crore in Odisha is focusing on developing the EV charging network, microgrids, rooftop and floating solar plants.

This New Year, Tamil Nadu is all set to host The Global Investor Meet on January 7. TN Industries minister Dr TRB Rajaa has conceptualised a number of unusual investor magnets to make this summit not just a meet, greet and eat exotic South Indian cuisine congregation, but a totally new investor experience with a wide spectrum of business choices. The summit will showcase not just big tech, the new energy vistas, green footprint enterprises but also give a ringside seat to TN’s vast rural economy. For starters, the much talked about Village Cooking you tube channel is to participate and present the country’s scrumptious village cuisine, unique to every region, using local ingredients and in season produce, and  drool worthy dishes . A Pudukkottai village, Chinna Veera Mangalam has gained 100 million viewers for its Village Cooking — a start-up launched by six friends in 2018, viewed globally. But for its chief dreamer M Periathambi, it was not a millet cake walk. Initially they had no viewers for the rustic and unfamiliar cuisine. “So they paused, took a look at their mistakes and learned from other cooking channels. From 3 episodes per week, it is only three per month now but fine-tuned, presented with much spontaneity. They earn Rs 10 lakhs per month. According to Vishnu Venugopal from Guidance (a nodal agency for Investor inflows) its aim is to tap the entrepreneurial talent of rural areas. Food is a great leveller, rural or urban. POWERED BY : IDFC FIRST BANK

Different tales, different strokes! This Christmas will be dissimilar for these two. For one, it will be a joyful celebration. For the other, however, this could be a farewell party. Well, we are talking about two iconic five-star hotels in Chennai. Crowne Plaza (formerly known as Adyar Gate Hotel) and Le Royal Meridien. Crowne Plaza will slip into the pages of history shortly. It has a new owner now in Bhashyam, a leading reality firm in Chennai. What the new owner intends to do with the acquired property is still not known. One thing, however, is sure. A prominent landmark — Crowne Plaza — will disappear from Adyar. The tale is different at Le Royal Meridien hotel at Guindy. Armed with National Company Law Tribunal order reversing insolvency process and restoring Appu Hotels to NRI industrialist, Dr Palani G Periyasamy, the two star hotels, Le Royal Meridien Chennai and Le Meridien Coimbatore are decked up and illuminated for a grand Christmas celebration. Periyasamy is set to step into the New Year with a sense of hope and fresh optimism. No doubt, an appeal has been filed in National Company Law Appellate Tribunal by MGM Healthcare which lost the bid for Appu Hotels and the case is slated for hearing on January 12. But it looks Appu Hotels is not in mood to give up the regained control.

This does not operate in an esoteric field. It is engaged in the dairy business. Today, it is a formidable player in Tamil Nadu, in particular, and the South, in general. Yet, this one has a unique record. It remained unaffected by demonetisation or the Covid-19. Much before digitisation became the new normal in the post-Covid world, Chennai-based Hatsun Agro Products Ltd had gone for a cashless transaction model. So much so, the aforesaid extraordinary events did not have any drastic negative impact on its business. Headed by RG Chandramogan, Hatsun was, perhaps, one of the very few companies which largely remained unaffected by demonetisation! Today, this entrepreneur-driven listed company has evolved into a significant name to reckon with in the dairy industry. This over Rs 8000-crore company has several popular brands such as Arun Ice-creams, Arokya Milk, Hatsun Curd, Hatsun Paneer, Hatsun Ghee, Hatsun Dairy Whitener and Ibaco. Its products are exported to 42 countries primarily to America, the Middle East and South Asia. Under a new initiative, Hatsun is eyeing large apartments to facilitate residents buy these brands through vending machines installed in their premises using smart cards supplied by Hatsun. Chandramogan is always on the look-out for markets waiting to be discovered, it appears.

Odisha chief minister Naveen Patnaik and industries minister Pratap Keshari Deb have reasons to feel elated. The state has managed to attract investment worth Rs 84,918.75 crore towards 12 key industrial projects. Some of the companies which have plans to invest big time in Odisha are: Welspun Group, Tata Steel, NTPC, REFL and Sembcorp Green and Ind Barath Energy Utkal. These investments are expected to generate employment opportunities for over 42,000 people. And guess who is leading the investment pack? It is Mumbai-headquartered Welspun Group, an Indian multinational conglomerate led by husband-wife duo Balkrishan and Dipali Goenka. The group has a strong presence in pipes, textiles, Infrastructure, and steel. The Goenkas are investing over Rs 20,000 crore in Odisha covering its business verticals. As part of the plan, Welspun Living has got the Odisha government’s nod for acquiring 350 acres of government-owned Odisha Textile Mills land for setting up an integrated textile and logistic facility at Chowdwar, Cuttack. For this project the group has earmarked over Rs 3,000 crore for this project having employment prospects of over 20,000 employees. Similarly, Welspun’s pipe and pipe coating plant under Welspun Corp at Sambalpur will create another 3,830 employees and its Green Ammonia plant at Sambalpur under Welspun New Energy Ltd will generate another 13,860 employees. Meanwhile, Patnaik has tasked the industry department to find suitable investors for the closed Brajrajnagar Orient Paper Mill spread over 843 acres

Maharashtrians swear by it. Bakarwadi, a quintessential Maharashtrian item, is loved not just all across India but the world over thanks to the Pune headquartered Chitale Bandhu Mithaiwale making it available across India via their franchisee Chitale Express. The second generation Chitale brothers are keen to register their brand’s presence globally. So this 83-year old savoury chain has roped in Bollywood stars to endorse their products — namkeen, sweets and dairy products. Chitales have taken the fullest advantage of the opening up of the USA markets and has made huge penetration in institutional sales by tying up with retail chains like Costco. In the UK, they have discontinued their prime distributor Pandit and Co. and replaced them with three new distributors to cover the entire UK. Recently, Chitale brothers who were in London as part of the Export Promotion Council, took time off to explore the UK market. Like the other big daddies in the dairy business in India, Chitales are hopeful that the new Free Trade Agreement may include easy access to Indian dairy products. Sixty percent of Chitales’ portfolio constitutes dairy products so they are keen that their dairy and dairy-based products are exported to the UK. After Brexit it’s observed that the UK which has huge consumption cannot procure enough to suffice its needs from other European countries thus India is one of the best options that has given hope to the Chitales and their ilk.

An interesting, and exciting new initiative is quietly taking shape in the Indian affordable housing finance space. The venture, which is expected to unravel in early 2024, will be distinct from the existing players in the country, both in terms of its scale and breadth of operation. The new company is expected to be a national player, with aspirations of becoming an institution. The new initiative has already evoked positive response from leading large fund houses who are likely to back the entity. The venture has also piqued the interest of several industry seniors. Led by former HDFC executive Satrajit Bhattacharya, a core team drawn from across the industry to lead the new initiative is presently being put together. Satrajit, himself an industry veteran with over three decades experience, was till recently the senior general manager heading investments and M&A for HDFC which has now been merged with HDFC Bank. Bhattacharya is an M&A and transaction specialist, having led multiple M&A and capital raise transactions, with a strong background in investments, deal structuring and transaction negotiations. He also had a long stint with market regulator SEBI. Besides being a hard-nosed investment banker, Bhattacharya who graduated from Delhi University is also a birding enthusiast who spends most of his non-working time, searching and photographing the avian species across the length and breadth of the country.

In the mood for a mango-based dessert? A father-and-daughter start-up offers the delectable taste of the world-famous Ratnagiri alphonso mangoes in any season. Prakruto Foods, a private limited company set up by Pune-based entrepreneurs Madhushree and Prasad Dabke last year, is all set to launch its mango powder in the Indian and global markets. Having started production of its GTM (Gradual Thorough & Moderate) dried products at its own automatic plant, sourcing its mangoes from the alphonso-growing Ratnagiri and Devgad areas in Maharashtra, the company has been formally recognised as a ‘startup’ by the Union Commerce & Industry Department for Promotion of Industry and Internal Trade (DPIIT). Its introduction of such a new product has also been recognised as an “innovative venture with great potential to generate employment and create wealth”. Prakruto Foods has been granted BRCGS certification, too: the first standard to be benchmarked under the Global Food Safety Initiative, recognised by leading buyers around the world as a mark of the highest standards in food safety. This international certification, the Dabkes point out, allows food businesses to access all corners of the global market and the company is now qualified to supply to global B2B and B2C customers. The aim is to give a substantial thrust in exports to developed countries, targeting not only overseas Indians and persons of Indian origin, but the western palate for 100% natural products: pure mango, minus the moisture — which is removed gradually, thoroughly, and at a moderate, low temperature – with no added sugar or chemicals, and a long shelf life. There is also a Purios Alphonso Mango recipe book with directions for use in breakfast cereal, milkshakes, lassi, ice creams, cakes, mousse, and a wide variety of Indian delicacies. Purios also offers dried Alphonso mango slices and chunks as a healthy bite-sized snack, perfect for children and adults alike, granules as a topping for milkshakes,...

They are new power couples who quit their high profile jobs to start their own venture. Deven Parulekar, former partner at EY and Tejas Parulekar chief manager at ICICI Bank started SaffronStays that offers unique holiday experiences by offering beautiful, private bungalows situated in exotic locations across India. What started by Tejas in 2016 as a one-employee operation of offering aggregator services of homestays has now grown into a 115-employee operator of homestays. Their USP of offering unique holiday experiences has indeed found lots of takers. Recently, SaffronStays won awards from Make My Trip and Times of India for providing a unique homestay experience. Besides, it finds mention in the Luxebook 100, a listing of India’s top 100 brands. SaffronStays has steadily built an attractive repertoire of over 250 rooms in Pan India. Inspired by Ruskin Bond, their asset at Landour, the abode of a former CEO of 7-star property in the hills of Mukteshwar, and a Tony Stark-styled glasshouse are some of their exciting assets. In the last eight years, SaffronStays has carved a niche for itself. With domestic tourism seeing good traction the Parulekars are confident of touching the Rs 100 crore turnover mark. They are planning to list their company and are also not averse to the idea of selling the brand, in future, if needed.   Powered By : ICICI LOMBARD

Aavin, the largest dairy cooperative controlled by the Tamil Nadu government has hit headlines. Set up in 1981, this popular brand like Amul in Tamil Nadu has stopped distribution of its popular Green pack milk which enjoys 40% market share. Green pack which contains 4.5% fat content has been replaced by lavender coloured Delite which has 3.5 % fat content. This move has sent consumers and Opposition parties into a tizzy of anger. TN’s former CM Edappadi Palaniswami and AMMK’s supremo TTV Dinakaran condemned the move to sell less fat content Delite at the same price. This move is to popularise private milk brands through the back door says BJP leader K Annamalai. It may be recalled a few months when Amul was making inroads into TN, the DMK government raised hue and cry how local brands are being cannibalized. Neighbouring Karnataka during elections time saw similar protests by politicians saying how local brand Nandini was being killed with the entry of Amul. Interestingly, TN’s minister for milk production, Mano Thangaraj has come up with an ingenious justification, “Look how health conscious people are…they don’t want fat in any form. We have public health as our main concern.” Aavin which processes 30 lakh litres of milk every day ranks eight in consumer packaged goods category of 10 most famous brands. Several private sector players have tried to compete but are unable to sustain Aavin’s reach, price point and popularity.

TVS and Murugappa are not just iconic names but also venerable brands in the Chennai business world. TVS has seen the four families, part of the group, go their separate ways legally. Each one of the four families in the erstwhile TVS is now chalking out its own independent business strategy. The Murugappa group, too, has many family branches. This one too appears to be letting the individual families pursue their own business interests. Still, the family holding company is intact and appears to bind the Murugappa families together. The open revolt by Valli Arunachalam, the elder daughter of late MV Murugappan, however, put the spotlight on the Murugappa group. Fortunately, both Valli and the Murugappa group have chosen to smoke the peace pipe. Coming as it does against this backdrop, the decision by Ambadi Investments (the holding company of the Murugappa group) to sell its entire 2.27% stake in EID Parry has set tongues wagging. The open market sale has fetched Ambadi Rs 190 crore. Does the stake sale have any connection with the peace pact with Valli? One tends to quickly correlate the two. Has the Murugappa group chosen to let Valli cash out? That option remains the realm of possibility with the stake sale by Ambadi in EID Parry. Powered by: Powered By ICICI Lombard 

The Indian banking circles in the UK are witnessing dramatic changes at the top level. Pratap Singh, the No 2 in ICICI Bank quit the bank after a 15-year stint to join SBI UK as the Head of Retail & Digital Transformation two months ago. Now, the latest news is that Singh has quit SBI UK. Eyebrows are being raised about his sudden departure. Was it the public sector bank’s work culture, (read rules and regulations) that made it tough for the private sector banker? Going back to ICICI Bank is ruled out as Gaurav Arora has replaced him. Meanwhile the management of ICICI Bank has asked Lok Mishra, MD & CEO, to hold the fort as his replacement Raghav Singhal is yet to get the green signal from the Financial Conduct Authority (FCA). This delay has seen ICICI Bank quietly withdrawing Singhal’s application from FCA.  In another development, Ghanshyam Nabar who was working for West Midlands India Partnership has turned an entrepreneur. He has set up UI Connect offering strategic consultancy between India and the UK and Europe. Shehla Hasan has quit Manchester India Partnership to head CII‘s UK and Europe operations as its Executive Director. MIP and WMIP were set up as a strong “living bridge” between the two nations, but its current defunct states are an ironic reflection of the growing India-UK relations and FTA around the corner.

Two leading Bengaluru-based hospital chains Manipal Hospital and Cloudnine Hospital have signed a MoU with the UK-based BAPIO Training Academy to develop a global training programme for post-MBBS doctors to strengthen training and advance medical education in obstetrics, paediatrics, IVF, gynaecology and foetal medicines. This MoU implemented across 29 hospitals in 12 cities enables doctors for the first time in India to take up the Royal College of Paediatrics and Child Health (RCPCH) and Royal College of Obstetrics and Gynaecology exams in India. BAPIO, The British Association of Physicians of Indian Origin is a voluntary organisation for doctors of Indian sub-continental origin, established in 1996 and based in the United Kingdom. BAPIO UK team led by Dr Prof Parag Singhal signed the MoU with the heads of Cloudnine Hospitals and Manipal Hospitals — Dr R Kishore Kumar, Dr Sudarshan Ballal — signed the MoU in the presence of the British Deputy High Commissioner Bengaluru and Deputy Trade Commissioner for Investment, South Asia Chandru Iyer. The idea behind imparting training programmes is to empower the next generation of medical professionals and make a lasting impact on the future of healthcare in India.

White Knights, co-option, corporate alliances and the like were quite in vogue in former times. They played handy roles in helping companies – especially of the owner-driven ones – to ward off take-over threats. Examples are dime a dozen in the corporate world of Tamil Nadu where they threw ring-fences around vulnerable outfits to check-mate raids by unwanted or undesirable entities. This had indeed helped many stressed outfits from falling into the BIFR fold, thanks to those friends in need who played Good Samaritans. The promoters of Bank of Madura (since merged with the ICICI) sought the help of Kotak Mahindra to ward off takeover threat from AC Muthiah of SPIC fame. Likewise, Pradip Kothari reached out to MV Arunachalam of the Murugappa group to stop the threat of Reliance satellite outfits from taking over of KICL (Kothari Industrial Corporation Ltd). Under new management, KICIL has now sold its fertiliser factory in Chennai to Coromandel Fertilizers of the Murugappa group! Son-in-law of late Raju, promoter of Raasi Cement, looked up to N. Srinivasan of The India Cements to stop raiders on track. Autolec, too, went to Sundaram Fasteners to ward off takeover attempts by multinational firms. In the evolving regulatory environment and following the arrival of IBC (Insolvency and Bankruptcy Code), things have gotten tougher for struggling owners to retain the ventures they have founded. The Good Samaritans of former times are either not there or wary of playing the rescue role in the changed context. Surely, that is hurting some original entrepreneurs in Tamil Nadu. Powered by: Powered By ICICI Lombard 

For somebody who was heading the Retail, SME & Private Banking divisions for the UK and Europe of ICICI Bank to call it quits at the peak of his career and start his own venture requires both conviction and guts. Ashesh Jani seems to have both. In 2021, 50-year old Ashesh co-founded Ribbon PLC, a digital financial services ‘super-app’, intended to offer hyper-personalized multi-currency wallets to NRIs as well as residents of India. Further, the super app also aims to assist Indians who are keen to invest in the global markets. The target clearly is the Indian diaspora. With that in mind, Jani and company have bagged the official sponsor rights for the Gibraltar Cricket team that will play matches in the European League. In his over two decades’ stint overseas that includes both Canada and the UK, he was exposed to all the challenges of financial markets and that’s what made him launch Ribbon. His notable achievements during his time at ICICI UK Plc was becoming a certified staff for the FCA Register. Ashesh’s expertise lies in the multiple top management roles he played in different countries. While in India he worked briefly with Vodafone and Tata Internet Services helping them build their sales and distribution channels. Beyond his professional pursuit, Ashesh is an advocate for sustainability and a promoter of financial literacy among the youth. Powered by: IDFC First Bank

Make way, limos-helicopters for hire are here. The Oxford helipad at Bavdhan, a suburb of Pune city, saw the launch last year-end of a new mode of transport that offers to literally leapfrog the crawling road traffic. On December 11, 2022, former IAF officer Nitin Welde took off on his maiden commercial flight in a helicopter, carrying six passengers who paid an all-inclusive inaugural fare of Rs 5000 each for a 10-minute joyride over the sprawling city of the Peshwas. Group Captain (retired) Welde, who has launched his Mahalaxmi Aviation under the umbrella of 17-year-old construction company Mahalaxmi Developers, has since taken his ‘birds’ on flights for a variety of clientele: for a ‘Pune darshan’ sightseeing trip offering an aerial view of the city’s attractions, a ‘Dev darshan’ temple tour covering pilgrimage destinations like Tuljapur, Shani Shingapur, Shirdi, Mahalaxmi Kolhapur, Pandharpur, Akkalkot and Shegaon in Maharashtra with an option to choose any other spot anywhere in India, and private charters for weddings – including showering the bridal couple and their guests with rose petals – and business trips. In keeping with the current need with elections round the corner all over India, it has flights for political rallies, especially in far-flung areas and outlying rural areas for politicians to address gatherings to explain their agendas. In today’s world, the flier’s website says, a helicopter is not just an enjoyment but is becoming a need in our day-to-day life. The developer’s take-off in the new business is in consideration of the prospects: a “collaborative effort to save time with the use of modern technology”. The aim: to create a sweet spot where belief and devotion meets comfort and luxury. As its tagline says: “#helicopterspreadsjoy” Powered by: IDFC First Bank

Making her country and community proud is Roshini Mukerjee, senior banker-turned- fashion entrepreneur living in the UK for close to two decades. This Indian-British entrepreneur was awarded — Women in Business: Empowering Other Women in India. Roshni is the founder of the brand Myosutra which promises to bring forth culture to couture on sarees to bridge both worlds of Europe and Bengal. She was awarded at the Indo-UK Business meet in the Palaces of Westminster hosted by MP Bob Blackman. She received the award from MP Dean Russel. This is also a recognition of her drive, determination, and vision of entrepreneurship in the UK. Myosutra which was established in 2017 offers handpicked exclusive Bengal Handlooms where each piece is an artwork that reflects both worlds of Europe and Bengal. By setting up this business she has ensured women who suffer domestic violence find both solace and solution and in the process are empowered. Her unconditional love for the Indian craftsmanship has translated into Myosutra promoting Indian ethnic wear like sarees, kurtas, dhotis and accessories. Roshini has been making a conscious effort to showcase Bengal. Her aim is to uplift the women weavers of Bengal and also to make Indian culture and tradition more accessible to the British Indians, the British Asians and the British community.

What’s in a brand? Well, brand is a powerful communicator. Often, it survives its creator and owner. A brand has the capacity to trigger universal appeal. Sometimes, a brand requires to be freed from the clutches of its owners. That’s very important for its longevity. That is easier said than done, however. It takes the owner to think and act beyond personal wishes to make an institution out of his/her brand. Indeed, an owner/creator has to have a strong sense of objectivity and courage. A couple of top brands from Chennai not only survived the test of time but have also become truly national now. In the 90s, scalability issues saw the late S Viswanathan let go Enfield, the company his family founded. His son Kapil has gone to create Krea University. Today, Enfield under Eicher has taken the iconic bike Bullet to a new height. Bullet is a global brand now. Not long ago, the owners of Butterfly had chosen to let Crompton take over the company. Butterfly is a household name in the kitchen appliances spaces in the Southern part of India. With Crompton stepping in, Butterfly has taken a national wing. Being successful in business is one thing. It’s statesmanship in them that tests the longevity of their brands.

Air India to start direct flight between Manchester and Mumbai. Service to commence operations at the end of November or by December this year. To start there will be three flights per week. Earlier, Jet Airways used to operate this route before it closed down operations in 2019 March. North England has a catchment of over 200,000 people of Indian origin who will benefit with this direct flight as Mumbai is further connected to various destinations and passengers avail their 2-check-in bags allowance. Officials say service can start right away as it has got all approvals. What’s delaying is the lack of fleet to be pressed into this sector. The 787 are old and Air India is keen to launch its service with new aircraft.  With Tatas taking over Air India, the management has taken bold decisions to offer direct flights to Goa, Ahmedabad, Cochin and Amritsar from Gatwick, and reserved its slots at Heathrow for Mumbai and New Delhi. Competition at Heathrow to these sectors is fierce as Middle Eastern airlines managed to grab a larger slice of the cake. British Airways has a monopoly at Heathrow thus non-availability of slots compel other service providers to move out to other London Airports.

The iconic Air Building at Nariman Point in south Mumbai will soon become one more addition to the Maharashtra government’s scattered offices in the city’s commercial hub. The 23-storey commercial tower, the famous landmark, was once upon a time perhaps the most sought after business address when it began serving as corporate headquarters for Air India from 1974 till 2013. It has nearly 10800 square feet of office space on each floor. Air India vacated the structure a decade ago when its loan burden became unbearable and had been trying to sell it to raise capital. AI then shifted its headquarters to New Delhi, leaving behind precious art treasures and other choice articles. The Maharashtra government had plans ever since Air India moved out to take over the building but due to standard hassles, the proposal never came up for implementation. The state government has rented out vast spaces in and around Nariman Point to house its various offices for a long time. With the AI building in its possession, the space crunch will be eased to some extent. Now that the state government has announced its intent to occupy the structure will soon see the farmers, the poor and the labourer in this posh building, once frequented by leaders, business magnates and corporate honchos. The Maharaja on the AI flag will be replaced by another Maharaja, Chhatrapati Shivaji Maharaj.

Odisha chief minister Naveen Patnaik continues to pursue his dream of making his state, a centre of educational hub. In particular Patnaik is keen educational institutes make students jobs ready. The state already houses reputed institutions like XIMB, IIT, AIIMS, NISER, Utkal University, OUAT and KIIT. In keeping with his goal, the chief minister has roped in the prestigious Mumbai-based NMIMS to set up its branch in Bhubaneshwar, Odisha. Patnaik who is wooing investors in the education space has already overtaken Kolkata as the preferred destination as far as medical centres are concerned. Towards this objective, Patnaik’s government in a cabinet meeting has decided to enter into a MoU with the Mumbai-based Shri Vile Parle Kelavani Mandal (SVKM) for the establishment of a world-class educational campus of NMIMS University in Bhubaneswar. By roping in NMIMS it will have the advantage of a learning centre fostering national and global engagement in the field of education. It is understood that the Odisha Government shall provide SVKM 40 acres of land on lease in Jatni, Bhubaneswar for the establishment of the university to be developed in phases. According to NMIMS sources, the MOU with the Odisha government is expected to be finalised over the next two weeks and there are also plans to commit 30% reservations to Odia students based on merit. 

Maharashtra’s Eknath Shinde government has come in for much flak as the traders from the $ 23 billion big diamond business have started shifting base from Mumbai to Surat Diamond Bourse (SDB). The new diamond market at Surat has attracted attention for indulging in some aggressive marketing, even leveraging their political clout, to coerce Mumbai’s diamond traders to shift there. Even before its scheduled inauguration on December 17, at the hands of Prime Minister Narendra Modi, Mumbai diamond traders were lured with major incentives if they completely shut their shop in Mumbai. All this has not gone well with the Opposition parties in Maharashtra, who view this as part of a conspiracy from the Centre to reduce financial clout of Mumbai and Maharashtra. Maharashtra is already upset at the missed opportunities of Foxconn, Tata Airbus and the bulk drug park projects that moved to Gujarat over Maharashtra. The clear push for industries towards Gujarat over Maharashtra may upset BJP’s dream of wresting 40 out of the 48 Parliamentary seats from Maharashtra. Already, there is much consternation in the ruling alliance as some surveys show that public support is weakening for the BJP despite splitting the Shiv Sena and the Nationalist Congress Party (NCP). Not surprisingly, the chief minister got the industries minister into damage control mode, who announced India’s biggest diamond cluster hub at Navi Mumbai within a year.

After successfully restarting the Indian operation of Enercon GmbH as its chairman and managing director, PKC Bose hung up his boots after five years at the German wind turbine manufacturer and made it a huge success. The man who proved his friends and critics wrong when they told him he was taking on an “impossible task” in bringing Enercon India back on keel, is not one to rest on his laurels, but continues to take on challenges and changes as he has in the last 30 years of his professional life. Believing as he does in doing things differently, Bose has now launched a new venture with his former colleagues. ENREGO (ENdless REnewable Energy to Go) is engaged in wind, solar hybrid, green hydrogen and energy storage management. This answer to his close friends’ questions of why he had decided to step down from Enercon and what he would do next, ENREGO is his next and biggest challenge. With global experts assessing the wind energy market as being poised to grow from $80.42 billion in 2022 to $160.24 billion by 2030 at a CAGR of 9%, the venture is set for a flying future as wind currently contributes just over a third of the total global installations of 121 GW of renewable energy installed by the end of 2022, making India the world’s fourth-largest wind market.

For the first time perhaps, a government is proceeding with a plan of action to promote the sales and consumption of beer in the state. As a result, beer lovers in Maharashtra are soon likely to cheer up each other more spiritedly at a lesser cost. Concerned by the swelling loan burden that is around Rs7 lakh crore now, the declining amount of the excise revenue has created concern for the authorities. Noticing the declining excise recovery from beer, the state has set up a five-member committee to study the beer industry threadbare and recommend ways and means to swell its coffers by promoting the beer swill. The committee, to be headed by an additional chief secretary, has been asked to submit its report within a month. Probably, so that the New Year can be welcomed more spiritedly. Maharashtra and Telangana each have 14% share in the all-India beer market, followed by Uttar Pradesh at 9%. Kerala (6%, Tamil Nadu (7%) and Karnataka (8%) are the other major beer consuming states. The sole non-official member of the Maharashtra committee will be a nominee of the All India Brewers’ Association. The government resolution (GR) dated 16 October 2023 says the beer sales in the state have been going down ever since the excise duty on the brew was increased. The reason for the doddering revenue is that the alcohol content in beer is less as compared with liquor, imported and made indigenously. As a result, the sales of beer are drying up as boozers are not attracted to it due to its higher price. The committee’s report is awaited eagerly.

“Go Green” has become the new mantra. Countries across the globe are striving hard to ensure a cleaner environment. The key here is eco-friendly batteries. Not surprisingly, scientists and researchers alike are burning midnight oil to discover an alternative to Li-ion batteries. “Go Green” can be a realistic endeavour only if an alternative is found to Li-ion batteries. This Chennai-based firm appears to have hit upon a solution. Ram Charan Company Private Ltd has just become the first company to be granted a patent in the solid state battery using sodium as a key material. The proof of concept on solid state sodium silicate batteries has been in development since 2021. Claimed to be a breakthrough work, solid state sodium batteries are likely to be tested in real time applications by 2024-end. The breakthrough initiative could have far-reaching implications for EVs (electric vehicles), space programmes and the like. Can a fully recyclable product sans toxic residue, solid state sodium silicate battery be made commercially in an affordable manner? Ram Charan’s founder Kaushik Palicha feels he can. This Chennai firm – which is doing pioneering work in the area of waste management -rose from obscurity to national limelight when it attracted $4.1 billion investment from a U.S.-based private equity in 2021. Public sector SAIL has, in fact, roped in Ram Charan to manage waste in some of its plants. Well, “Go Green” is set for a big boost.

There are a few things common about these three. They are all from very illustrious groups in Chennai. All of them had their sunny years in the past. And, all of them are listed entities. WS Industries, Coromandel Engineering and Kothari Industrial Corporation (KICL) were indeed jewels in the crown of Tamil Nadu once upon a time. For assorted reasons, all of them have become a distant memory. But these are names that have tremendous brand equity. Not surprisingly, these three once-upon-a-time iconic companies – nay brands – are now getting a fresh lease of life. Well, all these three companies have seen a change in their ownership. A new management is already in position at KICL, and is trying to bring the yester-year glory back to the Kothari brand. Through a series of initiatives such as getting big into footwear, drones and the like, the new leadership is working at a frenetic pace to reignite the power of Kothari. The much revered Murugappa group, in the meanwhile, has palmed off Coromandel Engineering to affiliate-entities of a top functionary of a ruling DMK party in Tamil Nadu. Coromandel Engineering, in fact, had built some of the iconic structures in Chennai. WS Industries, a leading manufacturing company once upon a time, too, has come under the fold of a group which is into property development. All these three newcomers get listed firms through the inorganic growth route.

Businesspersons in this part of the world are usually perceived to be quiet doers. Often, they are attached with the tag of `conservatists’ by the world outside. But these so-called `conservatists’ were pioneers in very many ways. First corporate school (Thriveni Academy), first corporate film company (GV Films), first leasing firm (First Leasing), first corporate hospital (Apollo), first hostile takeover (of Wendt India by CUMI)…. and several such firsts … all happened in Chennai. This little known company from the city of Chennai attracted $4.1 bn investment from the American fund TFCC International in December 2021 and became a talking point in the business media. Ram Charan Company Private Ltd, founded by Kaushik Palicha, has since gone quietly to pen a pact with the Steel Authority of India (SAIL) to put up a pilot project for carbon capture and utilisation. What has surprised the long-time India business watchers is the fact that a public sector undertaking of the SAIL kind has chosen to take the lead-role in striving to roll out a robust waste management system across its units. If this pilot cooperative initiative succeeds, it is bound to trigger a huge transformation in the way the Indian production environment is managed. If grapevine has to go by, a top industrial house is also picking up a cue or two from the SAIL gambit. Well, innovators and risk-takers are aplenty in Dravadian land it appears.

Twenty-two families occupying residential apartments in the ongoing Rs 2500 crore Slum Redevelopment Authority (SRA) approved project – Rizvi Utopia – in the western suburb of Kalina, Mumbai have to vacate within the week. The directive from the SRA comes in the wake of the finding that ‘C’ wing in the triple-tower complex lacks the requisite Occupation Certificate (OC) despite which possession of 22 of the 25 two-bedroom apartments was handed over to unsuspecting homebuyers. The statutory authority, in its October 18 missive to the project developer Rizvi Land Development Pvt Ltd (RLD) states, “You are hereby directed to vacate all occupied flats in sale wing C of your building immediately… within seven days.” The SRA directive comes in the wake of the report submitted by the Mumbai Fire Brigade in September, 2023, after inspection of all A, B and C wings. The fire brigade report states, “The developer has not obtained an occupation certificate for C wing from the CFO department or SRA. The fixed fire-fighting system is not in working condition.” The SRA action comes as a double jolt to Rizvi builder in particular after he deposited Rs 6 crore with the Bombay High Court over the sale of four commercial office spaces in the realty project without commercial components being part of its approved plans. Why the SRA waited over a month after the fire brigade’s report is another question that remains unanswered?

You may be driving around with an auto brewery syndrome that can land you trouble with cops. Chances are that you will be caught for drunk driving. The breathalyser will beep even if you didn’t consume a drop of liquor! Blame it on your bad gut health which can create this issue and you will never be able to win any argument with the police. You will have to cough up the fine and prove your innocence in the court with the help of a medical certificate. Dr D Nageshwar Reddy, chairman and Chief of Gastroenterology at AIG Hospitals, has narrated this ‘case study’ involving the daughter of a friend of his and how she had a harrowing time. Her stomach had apparently a brewery factory, he said at an event by FICCI Ladies Organisation’s Hyderabad chapter. The gut breaks down the foods we eat and absorbs nutrients that support the body’s functions. Research shows that our gut microbiome can affect every organ in our body. Now, gut health is widely discussed among medical circles the topic of the world as it could be the root cause of many diseases. Human stomach is full of bacteria both good and bad. The intestines have 1000 species. In his friend’s daughter’s case, she acquired bad bacteria in childhood, Dr Reddy said. So, maintain good gut health, have regular medical checks to keep medical bills and police penalties under check!

Sridhar Vembu, the business visionary who set up the multi-billion dollar Zoho Corporation at Tenkasi in Tamil Nadu, plans to replicate the model in rural Kerala. Vembu proposes to set up Zoho Corporation’s R&D centre at Kottarakarain, Kollam, 65 km from Thiruvananthapuram. The unit, which has the blessings of the Kerala government, will provide jobs for 1000 people. Vembu had only one condition to set up the unit in Kerala, when Kerala’s  officials approached him,  “Find a leader to head the operations”, according to Anoop Ambika, CEO, Kerala Start-Up Mission (KSUM). And KSUM was looking to persuade Dr Jayaraj Poroor, Zoho’s former research head who is now an academician, to head the project. In Tenkasi, Zoho converted what was once a nondescript fruit pulp manufacturing unit, into a tech centre par excellence on the world map. Vembu wanted to debunk the idea that location plays an important part in the success of a company. According to Anoop Ambika, once the project takes off, it will not only bring technology and jobs to the local talent pool but also put Kerala on the technology map.

People in Chennai may have read the news item with much emotion. Three young women employees of Writer’s Cafe, Priyatharshini, Parimala and Komala are all set to fly to Dubai for a three month high-end training at its International Centre for Culinary Arts. So what’s special about these women? Time was when none of them could even come out in public and face the world, literally, all victims of severe burns, traumatised by domestic violence or sexual exploitation. They owe their total rehabilitation and entry into a work life of self-esteem to one man — the visionary marketing Guru, international foodie and serial entrepreneur restaurateur who transformed baking from mere bread to Hot Breads. M Mahadevan, founder of Oriental Cuisines which runs bakery chain Hot Breads gives new meaning to CSR and employability to the underprivileged. Mahadevan‘s motto, no expectation of life time allegiance from his beneficiaries. He encourages them to grow wings and find their own space. The story of the three women employees from Writer’s Cafe (started as a partnership with Higginbothams, the iconic book shop) is organised and funded by Mahadevan. Mahadevan assures them, after your return you can start your own enterprise or come back to us. That’s a classic Mahadevan CSR. India has many such societally exploited groups begging on the streets. If more Mahadevans open their hearts and purse, socially shunned and marginalised persons can become self-sufficient.

Kollywood’s Lady Superstar Nayanthara is in the news for many facets …blessed with riveting beauty, she is now talked about for her smart business sense too, even as she launched her beauty brand 9SKIN with elan and style in Malaysia. Fresh off the pan India success of her movie Jawan with SRK, and the just launched psycho thriller Iraivan with Jeyam Ravi. Not many film stars have ventured into an enterprise that brings beauty, skin care and marketing mix in an innovative brand portfolio. If you thought Nayan is cannily cashing in on her filmi status, you are wrong. She is thinking beyond her film star shelf life. Ayurveda and ancient Indian plant based skin care basics like turmeric, essential plant oils, sandalwood are coveted. The saga of Fair & Lovely has cautioned the consumers and entrepreneurs about the dangers of chemical-based skin products. Now, global beauty brands, L’Oréal and Estee Lauder are keen to invest in such home grown enterprises. According to Euromonitor International, the Indian beauty market which was valued at $12 bn in 2018 is projected to jump to $17 bn by 2025. Clearly, Nayanthara knows that her own glass skin is the best blurb for her products.

This is one of the oldest chambers in the country. This industry body is over 100 years old now. The Southern India Chamber of Commerce Industry (SICCI) is indeed an iconic association in Chennai. The SICCI was promoted ostensibly with the idea of serving the Indian business by protecting and promoting its interests at the regional, national and international levels. Indeed, SICCI was the founder-member of the Federation of Indian Chambers of Commerce and Industry (FICCI). SICCI saw eminent industrialists from Chennai such as AC Muthiah, MA Alagappan, A Vellayan and like heading it at one point or the other. Ar Rm Arun, son-in-law of AC Muthiah, is now serving as its president. SICCI has chosen to change. This move put the spotlight on the century-old chamber. SICCI has decided to constitute a Core Advisory Council (CAC). More than its constitution, what has surprised many is the power vested with the CAC to oversee the induction/ replacement of the executive committee members. CAC is also sought to be vested with powers to recommend right candidates for top positions at SICCI, which has hitherto been the domain of the board members. Why CAC at all? With CAC in place, what will be the role of the executive committee? Surely, SICCI is set for interesting times ahead.

This was one of the respected industrial houses in Tamil Nadu. Once upon a time, this group was at the forefront leading the State industrialisation. Brothers DC Kothari and HC Kothari were respected names in the Indian corporate world then. Post their demise, Kothari House was in the news for all wrong reasons. An internecine feud broke out between cousins Pradip Kothari (son of DC Kothari) and Shyam Kothari (son of HC Kothari) when Shyam (son-in-law of Dhirubhai Ambani) bought into Pradip-controlled KICL. The dispute between them took legal overtones. In the end, the case went in favour of Pradip. Several years have gone by since then. Today, KICL has changed quite a bit. A new management is in place under the leadership of J Rafiq Ahmed.  Ahmed is firmly in the saddle with his own set of professionals. He is now working hard to bring the yester-year glory back to KICL. As KICL breaks into new areas such as digital, drones, footwear et al, it is looking to attract overseas investors. A leading investor from an oil-rich nation appears to have been impressed by the initiatives of Rafiq Ahmed. A turning point in the annals of KICL appears on the cards! 

At a time when Cruise services are turning popular in India, Kerala has found a new way to counter the exorbitant air fares to the Gulf. Come December 2023, Malayali expats can travel home in luxury cruises. The Kozhikode-based Malabar Development Council and Indian Association, Sharjah, have planned to ply private luxury cruises between UAE and Kerala. Each cruise will have a capacity of 1300 passengers and the three day trip will cost Rs 10,000 one-way. Each passenger will be allowed to carry baggage of 200 kg. The fare will be 50% lower than the present average airfare between UAE and Kerala. The associations behind the cruise project, have approached the Kerala Government and the Kerala Maritime Board with the proposal. Once the clearances come through, the promoters will approach the Central Government for a formal approval. The Kerala government had earmarked Rs 15 crore to resolve issues faced by expats travelling between UAE and Kerala. The promoters hope that this money could be used as seed money to start the operations. A vessel currently being constructed at the Cochin Shipyard could be diverted for the project. The Andaman and Nicobar Administration which placed the contract for the vessel has now backed out for unknown reasons.

The defining moment started for Shekhar Sardessai, CMD, of the 28-year old Goa-based Kineco Ltd, when the rocket carrying India’s moon lander Chandrayaan-3 took off on 23 August 2023. The next 23 days were very anxious for all 50 people involved in the project.  Having had a long relationship with ISRO, Sardessai and his team should have been more blasé about their latest project, but it was a bag of mixed emotions. Sardessai always had an ambition to be in aerospace and space since 2002, and his first big moment was when we won the bid for supplying 10 antennae for India’s space programme in 2012-13. This project has established the Kineco group’s credentials, rocketing its reputation from being a company that was “too small for this game” to a situation where it is rubbing shoulders with international giants. The opportunities now available to Kineco and other Indian companies are “huge”. This is a very interesting era, in which the next generation of entrepreneurs can give their dreams the power to take them anywhere they want to go.

Tamil Nadu is known for its iconic business families. TVS, Murugappa, Amalgamations, Rane, Spic et al –  the list can go on and on. They are to a large extent responsible for the early industrialisation of the state. The foresight of the elders of these industrial houses has pushed Tamil Nadu into the national forefront. Of course, many multi-nationals have come into the state since then. But these traditional industrial houses have to tackle a problem of an unusual kind. When families expand, fissures creep in. How best are these handled? That is indeed a big challenge. In the not so distant past, the Murugappas have put an end to the internecine quarrel with a female member by penning a peace accord. Some months ago, the four branches of the illustrious TVS group legally went their own ways in an extraordinary arrangement. The Murugappas perhaps are likely to follow the TVS template. What is this TVS model about? According to grapevine, the key to the TVS model is the generosity of big members (in terms of their market capitalisation) who chose to adequately compensate others who were managing businesses that had inherent growth limitations. The early apportionment of businesses among different branches allowed some to get high growth fields and others not-so-high growth businesses. The appreciation to erase the initial disadvantage is the stand-out feature of the TVS model.

The traditional joint family system in India has the unique way of sorting out skirmishes among different branches. An informal red line defines the limit within which each member conducts himself/herself. Ostensibly the objective of this informal understanding is to foster a sense of family unity for generations to come. When a female member of a branch Valli Arunachalam, elder daughter of late MV Murugappan, chose to take the internecine quarrel public and the topic became a discussion subject in social media for long, this Chennai-based industrial group and the estranged female member smoked peace pipe for the larger good. For the elders of the Murugappa group, family unity has all along been paramount. Hence, the daughters have stayed away from the business. They have played no small role in sustaining the unity of the Murugappa family. If grapevine has to go by, daughters are never included as part of the promoters in Murugappa group. Not surprisingly, daughters’ shares aren’t considered as part of the promoters’ holdings. The shareholdings of wives, however, are part of the promoter holdings! This philosophy has worked well for the group since it was founded. No murmurs from daughters all along. The Valli episode appears to be an aberration. A closer reading of the recently-released statement on the peace proposal appears to suggest that the Murugappa family is keen to sustain family unity for generations to come.

Hard copy in this digital age is passe. Today, all communications are in digital or electronic form save for doctors writing their prescriptions. So it was surprising to see Uday Kotak, Managing Director and CEO of Kotak Mahindra Bank Ltd sending a handwritten resignation letter on September 1 to his chairman Prakash Apte. The 3-pageletter captures the journey of Uday Kotak which started in 1985 with three employees in Mumbai’s Fort area. Today, this successful bank which has over a lakh employees has presence all over India and five other countries. Interestingly, Kotak has tweeted his handwritten letter. Generally, handwritten notes are written to add that personal touch and some CEOs do take that extra effort to send a thank you card or good wishes hand written. This gesture conveys that they care. Ratan Tata is known to do that; he sends handwritten letters especially if it is outside business.  He has very good handwriting. This writer has seen some of his handwritten notes. Coming back to Kotak, he has truly built a formidable bank. In his words, “an investment of Rs 10,000 with us in 1985 would be worth around Rs 300 crore today.” All his stakeholders are laughing all the way to the bank.