Wednesday 1 May 2013

4 Ordinary Indians Who Created Extraordinary Business




Bangalore: One of the renowned authors of India, Shiv Khera said: “Winners don’t do different things, they do things differently”. Yes, this is completely true! To achieve success in life, one doesn’t have to take birth with a golden spoon. Even to be an achiever, it is not always compulsory to have the best education from the best institution.


History has a record of many of the successful people, who, now stands at the peak of success but was once nowhere close to either a rich family or any of the best degrees. These people are called as the ‘extraordinary’ people by the ordinary people.


‘The Economic Times’ has listed four outstanding personalities, who not only excelled in their works but also has set an example to be followed.


1. Kailash Katkar
Founder and CEO, Quickheal Technologies


It is very hard for everyone to believe that the founder CEO of India’s largest internet security provider, Quickheal was once a radio mechanic. It is even harder to believe that in the name of education, the founder CEO has done the basic matriculation with an additional basic computer hardware course.


After completing his matriculation, Kailash Katkar started working in a local radio and calculator repairing shop in Pune. It was in the year 1985, when he was only 19 years old and had no other options other than working for 1,500 per month.


At the age, when most of the teens dreams about the best colleges and the higher degrees, Katkar was sent to Mumbai to have a two months workshop training by the owner of the shop.

Katkar’s strong determination and devotion made him an expert mechanic within a short time and after a few years, he was also keeping all the records of the repairing shop for his employer. Since then, things were going all favorable for Katkar in the repairing shop. The big turn happened to him in 1990, when he moved out of the repairing shop and decided to have his own repairing shop.


15,000 and a leased room in Pune flared the flames of the one-man venture. By the end of the first year, he made a decent profit from his repairing shop and this took him beyond the limits; the hunger of progress forced him to take computer classes. He completed a basic computer hardware course in 1991-92. This was the beginning of the anti-virus giant of India.


Katkar’s first computer break happened to be two personal computers from Pune with an annual fees of 2,000 each. By the next year, he got contracts from ‘New India Insurance’. This got followed by another company. These two contracts finally brought a turnover of 1 lakh by the year end along with four employees for Katkar.


Very shortly, Katkar and his younger brother, who is a computer engineer, started developing antivirus software. They sold their first antivirus for 700 under the name ‘Quick Heal’, which had a much lesser price in comparison to other available antivirus of that time. This made turnover to reach 12.19 lakh.


Since then, there was no looking back and today, Quickheal is the largest internet security provider in India with 610 employees, 23 offices across India and a reach to 50 countries.


2. Pravin Herlekar
Chairman and Managing Director, Omkar Speciality Chemicals


Born and brought up in an Indian middle class family, Pravin Herlekar is an IIT graduate. Like the other middle class kids, Pravin’s life was also the same. Right from his childhood, he was made aware about the very common Indian belief, ‘study hard and you will have a nice life!’


Life was also going the same traditional way for Pravin. Change happened to him, when he was in the final year of his Chemical Enginnering from IIT Bombay and was about to complete his internship. It was in the year 1972, when during his internship, he met the then Managing Director, KC Shroff of Excel Industries, Mumbai. Pravin also gives the credit of all his success to Shroff. The discussion with the MD of Excel Indstries changed Pravin’s life forever.


After the discussion with KC Shroff, Pravin decided to start his own chemical lab. Even though lack of cash and space were the main restraining factors for this determined grad, he did not kept his goals of having a MNC limited to his dreams. To achieve his dreams, he first acquired proper entrepreneurial knowledge from Mumbai University and upon completion of his post graduation he worked with multiple big shots of the corporate market. He worked with State Industrial & Investment Corporation of Maharashtra, FDC, Aegis Chemicals and Milton Group.


While working at Milton, he researched a lot about the chemical market in India and took suggestions from all his friends about what to manufacture. After collecting enough knowledge about the market, he finally quit his job in Milton and started his own chemical lab in his kitchen in the year 1983, which later got incorporated in 2005 and went public in 2011.


He used most of provident fund in researching on deriving new particles and while he was doing all these, hi wife was taking care of the household expenses. The dream came true for Pravin in March, 1983, when he developed ‘molybdenum’ and ‘selenium’ derivatives in his kitchen lab.


After Cipla decided to launch an anti-asthmatic product, Pravin got the big break as he was capable of supplying the ‘selenium’ oxide; which was very costly and had to be imported during those days.


Success started flowing into his hat after getting the deal from Cipla and today, Pravin is the founder Chairman and also the Managing Director of one of the reputed chemical companies in India which has been accepted decently in the global market too.


3. Mitali Kalra
Founder, Zao Foods


Mitali Kalra holds an MBA (finance) degree from INSEAD, France. She completed her MBA in 2008. After completing MBA, she worked in corporate headquarters like Dubai and Singapore for almost one year.


In 2010, Mitali returned back to India and started working with KPMG. After leaving KPMG, she worked with Deloitte. During her working tenure in India, she was blown away with the lack of nutritious food options in India; especially in and around her workplaces in India. This was the beginning of Zao Foods.


While the idea of coming up with a nutritious food café came to her mind, she was having a well established career in investment banking. It was pretty tough for her to change her dream into reality. Even, her parents were not supportive in her initial days of entrepreneurship and asked her to get back to her corporate career.


Finally, fighting against all the odds, Mitali invested 14 lakh from her own savings and registered her company by the name of ‘Zao Foods’ in December, 2011.


After her company got registered, she took a couple of months in deciding the looks of her food café and how the menu will look like. After all the efforts, she gathered a team for her café and launched her first take away outlet in February, 2012 in the Greater Kailash area of New Delhi. Her outlet is named as ‘Crostini’, which means toasted bread with toppings in Italian.


Her café offers a list of healthy and nutritious foods for the food lovers. Her café took a couple of months to come to the notice of the food lovers. With a menu, that offers wholewheat pasta, wraps, soups, salads, low-fat smoothies and shakes, and many more, the list of her customer is increasing with every passing day and she is putting in all her efforts to have the best results.


Within the very first year of becoming an entrepreneur, she has achieved a turnover of more than 
25 lakh and si looking forward to attain more and more.


To keep the vibes of her café alive and fresh, she organizes workshops and different types of events at regular time intervals. She is all set to go for some more outlets for her food business and to offer healthy and nutritious foods to the Indian food lovers.


4. Vijaya Pastala
Founder CEO, Under the Mango Tree (UTMT)


Honey is considered as one of the holy and healthy drinks in India. Honey has more than hundred benefits. Drinking honey on a daily routine, not only assures a good heal, but also keeps people away from several diseases. But for Vijaya Pastala, honey is one of the most important ways of living life; honey is the best way for Vijaya to make profits.


Vijaya Pastala is a graduate from MIT, U.S. After completing her graduation, she returned to India and got engaged in helping the 1993 earthquake people of Latur, Maharashtra. During those times, she had a small team and her office used to be very small room with tin roof. Her office was very congested and thus she moved her office to under the shade of a mango tree.


While continuing her kind service from under the shade of a mango tree, she made plans to name her future ventures, if there comes any as ‘Under the Mango Tree’.

Oil Prices Fall in Asia After Weak U.S. Data


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Singapore: Oil prices eased in Asia today, hit by disappointing manufacturing data and a pipeline closure in the United States, analysts said.

New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in May, shed 15 cents to $96.92 a barrel and Brent North Sea crude for May dropped 12 cents to $110.96.

"Lower prices are mainly a reaction to the weak manufacturing indices (in the United States)," said Ric Spooner, chief market analyst at CMC Markets in Sydney.

"The fact that oil rallied before the Easter break made the market more vulnerable to indicators of moderating economic growth," he told AFP.

The Institute for Supply Management yesterday said its U.S. manufacturing index fell to 51.3 in March from 54.2 in February. While anything above 50 indicates growth, the slower pace raised concerns about the recovery in the economy.

Other analysts said the closure of ExxonMobil's Pegasus pipeline in Arkansas following a rupture Friday also sparked fears that crude oil supply will back up in the U.S. MidWest.

There are concerns the pipeline closure could exacerbate inventory stocks at the Cushing, Oklahoma, delivery point for WTI futures in New York as crude cannot be pushed through to the refineries.

A build-up in stockpiles puts a downward pressure on prices.

"We're seeing a correction of positions after the Easter break as dealers shifted their focus to the United States and a possible boom in oil supply there," David Lennox, resource analyst at Fat Prophets in Sydney, said.

5 Most Powerful CEOs of India


Bangalore: India is the powerhouse of some of the leading names in the business world. Names like Reliance, Tata, Aditya Birla, Wipro and many more such names that have a great impact on the world business, have their roots engraved in India.


The CEOs of these companies has played the most crucial role in upbringing their brand names to the global market. From bearing all the rocks to tasting success, from taking crucial decisions to managing the company, these CEOs has been the most effective and the powerful too. ‘The Economic Times’ has listed 10 most powerful CEOs in India during 2012.


1. Ratan Naval Tata


Rank: 1, Age: 75, Chairman, Tata Sons


Ratan Tata started his career with Tata Steel and took official retirement from Tata groups as CEO in December, 2012.


Tata, who says, ‘I don't believe in taking right decisions. I take decisions and then make them right’ has been the best role model for everyone. His dedication and true leadership took the entire Tata group to the peak of success.


After graduating, he was offered a job in IBM. He decided not to join IBM and entered into the family business. Today, Tata has become one of the popular household names in India and a very prominent name in the International Business.


2. Mukesh D. Ambani


Rank: 2, Age: 55, Chairman & Managing Director, Reliance Industries


The senior Ambani brother is the richest Indian at present. His company RIL operates on petroleum, petrochemicals, textiles and retails.


Ambani’s RIL is the largest Indian private sector and his ‘Mumbai Indians’ has been declared as the second largest sports club in the world.


He completed his BE in Chemical Engineering from University of Mumbai and joined Stanford University. However, after one year, he returned back to India to help his father in the family business.


3. Kumar Mangalam Birla


Rank: 3, Age: 43, Chairman, Aditya Birla Group


After the sudden loss of his father in 1995, he became the Chairman of the Aditya Birla Group. He became the youngest Indian to lead a billion dollar company.


Aditya Birla group has hands over almost every sector; retail, financial, tele-communication, insulators, cement, fertilizers and many more.


He completed BCom from ‘HR College of Commerce & Economics’, Mumbai. After graduation, he joined London Business School and completed his MBA.  


Under his leadership, Aditya Birla group became the third largest business group in India.


4. Azim Hashim Premji


Rank: 4, Age: 67, Chairman, Wipro


Azim Premji is a Stanford dropout. The sudden death of his father forced him to return to India and take care of Wipro. During those days, Wipro was a consumer product company.


Today, Wipro is one of the largest IT companies in India and has an equivalent reputation globally. It is also the second-largest hydraulic cylinder company in the world.


He is also one of the most powerful members in the India Inc. He was awarded with ‘Padma Vibhushan’ in 2011.


5. Chanda Kochhar


Rank: 5, Age: 51, Managing Director & Chief Executive Officer, ICICI Bank


Born on November 17, 1961 on Jaipur (Rajasthan), Chanda Kochhar did her schooling in Jaipur. She completed her graduation in 1982 in Arts from ‘Jai Hind College’ in Mumbai. After graduation, she completed her masters in Management studies from Jamanlal Bajaj Institute of Management Studies.


She is currently the CEO and the Managing Director of India’s largest private bank, ICICI Bank. She is one of the leading leaders in India Inc.


She has been awarded Padma Bhushan in 2010 for her glorious work in the banking sector. She is considered as one of the most powerful women around the globe.


The 10 Richest People In The World



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RankNameNet WorthAgeSourceCountry of Citizenship
1

Carlos Slim Helu & family

$73 B73telecomMexico
2

Bill Gates

$67 B57MicrosoftUnited States
3

Amancio Ortega

$57 B77ZaraSpain
4

Warren Buffett

$53.5 B82Berkshire HathawayUnited States
5

Larry Ellison

$43 B68OracleUnited States
6

Charles Koch

$34 B77diversifiedUnited States
6

David Koch

$34 B72diversifiedUnited States
8

Li Ka-shing

$31 B84diversifiedHong Kong
9

Liliane Bettencourt & family

$30 B90L'OrealFrance
10

Bernard Arnault & family

$29 B64LVMHFrance

BSE, S&P Dow Jones Indices launch S&P BSE 500 Shariah index

The new index comprises companies which fit Islamic finance principles such as bans on investing in alcohol, tobacco and gambling-related businesses.

Tata Motors new Asean plant on hold


 

 
Tata Motors, India's largest auto maker, has put on hold plans to set up a greenfield plant in the south east Asian region for lack of a sizeable demand, according to reports.


Last year the Mumbai-based company said that is was considering a new assembly plant worth about THB 10 billion (Rs 1,800 crore) in either Thailand or Indonesia. This plant could have had a capacity to produce 50,000-60,000 units per annum.


Karl Slym, managing director, Tata Motors, said, "Our sales should amount to at least 20,000 units per year to be worth investment in the new assembly plant's construction". Slym was speaking to reporters at a conference held in Thailand.


During last financial year ended March 31, Tata Motors (Thailand) reported sales of 4,597 units, a minor increase from 4,586 sold in the year previous to last. The company majorly sells the pick-up range in the Thai market.


Tata Motors also has a joint venture with Thonburi Automotive in Thailand and would now focus on the export plans from this plant.


"The company now says it would rather focus on kicking off its export plan out of its Samut Prakan assembly plant, which is a joint venture with Thonburi Automotive Assembly Plant Co. The Thai unit expects sales growth of 10% this year, boosted by the healthy Thai economy and a plan to kick off exports to Malaysia in the second half", said a report in Bangkok Post.


Tata Motors also plans to expand annual production capacity to 9,000 vehicles from 8,000 adding 250 employees to its current 450, the report added.


The company also intends to add Thailand to the list of international markets for the Nano after Sri Lanka and Nepal. The Nano could be launched in the Thai market in the third quarter this year with changed specifications suited for the Thai market, stated the report.

Budget 2013 Impact



The label, from the house of French company Cattier, also found its place in Oprah’s favourite things for 2011.
The label, from the house of French company Cattier, also found its place in Oprah’s favourite things for 2011.
NEW DELHI: American rapper Shawn Corey Carter, popularly known as Jay Z, once sent a bottle of Armand de Brignac champagne toOprah Winfrey who apparently liked it so much that she in turn sent out 25 cases of the luxury beverage to friends she wanted to pamper.

The label, from the house of French company Cattier, also found its place in Oprah's favourite things for 2011.

The Cattier brand, which is sold in 120 markets around the world, will debut in India soon at a minimum price tag of Rs 40,000 per bottle, along with other champagne brands from Cattier, a family engaged in the business for over 250 years.

Cattier, a privately-held company based in Chigny Ies Roses village in France, has appointed a distributor in India to retail the sparkling wine, starting with a price tag of Rs 6,500 a bottle (for the other labels).

"India as a market for luxury champagne is growing very fast and now is the right time to bring our brands here," says Jean Jacques Cattier, president, Cattier.

The company has joined hands with Sri Lanka-based Global Brands to launch in South Asia, including markets such as India, Maldives and Sri Lanka. Global Brands has appointed an Indian company as the key distributor.

"We are targeting the movers and shakers of India who like to splurge on expensive champagnes," says Rahul KashyapSouth Asia representative of Cattier. Those who throw lavish farm house parties for celebrities will be the customers here, he says.

With annual sales of 16 million euros, the company sells one million bottles across the globe. Forty percent of the total production is consumed in France followed by Australia, Japan and China.

"In India, we plan to sell about 12,000 bottles in the first year," he said.

India's relation with champagne goes back a long way, when the beverage was an important part of royal life. It is said that so much champagne flowed in celebration of the birth of the late Bhawani Singh, erstwhile ruler of Jaipur, that the new heir was nicknamed "Bubbles".

"Even in the modern context, champagne is synonymous with celebration and it's a way of life," says Rajiv Singhal, India representative of Comite Champagne, an organisation that promotes sparkling wines from the Champagne region across the world. Last year, 3.48 lakh bottles of champagne were imported in India, a growth of 20% compared to 2011.

"With the growth in luxury consumption and increase in spending on expensive products by the new age consumers, the demand for champagne is growing at a healthy rate," says Singhal.

The Champagne region in France has about 12,000 registered brands, most of which oper-ate in the domestic market. India has 33 champagne brands already present. "Most of the big brands are already doing business here," says Singhal.

These include Moet & Chandon and Veuve Clicquot from the LVMH Group, Mumm fromPernod RicardLouis Roederer and Taittinger.

As per geographical indication, sparkling wine coming from the Champagne region in France is qualified 'Champagne'.