Innholdsfortegnelse for 17 March 2024 i Business Today

If there ever was a time that is both interesting and challenging for corporate leaders, it is now. Interesting, because of the winds of change sweeping through the business-, economic- and technological landscape, where leaders who are nimble can grab opportunities for growth. And challenging, because seldom has such a cocktail of events manifested itself at the same time—geopolitical tensions and wars, the tendency of global economies to turn more inward-looking, supply chain problems, and more. Just as the world was recovering from the crippling effects of the pandemic, the Russia-Ukraine war and the Israel-Hamas face-off meant that CEOs had to go back to the drawing board, regroup and come up with new strategies. Amidst all this, India, the world’s fastest-growing major economy, stands out as a beacon of hope.…

61% OF CEOs GLOBALLY BELIEVE THE PE SPACE WILL SEE A 5% INCREASE IN HEADCOUNT. AND 56% OF CEOs BELIEVE THAT THE HOSPITALITY & LEISURE, ENGINEERING & CONSTRUCTION AND TECHNOLOGY SECTORS WILL SEE A 5% RISE IN HEADCOUNT 71% OF INDIAN CEOs EXPECT GENERATIVE AI (GEN AI)TO INCREASE EMPLOYEE EFFICIENCY OVER THE NEXT 12 MONTHS NOTE PwC SURVEYED 4,702 CEOs ACROSS 105 COUNTRIES AND TERRITORIES, 79 OF WHOM WERE FROM INDIA. BULLISH OUTLOOK THE MAJORITY (86%) OF INDIA’S CEOs ARE OPTIMISTIC ABOUT THE COUNTRY’S ECONOMIC GROWTH IN 2024 (CEOs’ views on India’s economic outlook) SOURCE PwC’S 27TH ANNUAL GLOBAL CEO SURVEY POSITIVE PROGNOSIS 70% OF INDIAN CEOs ARE CONFIDENT OF THEIR COMPANY’S REVENUE GROWTH PROSPECTS OVER THE NEXT THREE YEARS (CEOs’ views on their company’s revenue growth) SOURCE PwC’S 27TH…

The merger of Reliance’s media business with The Walt Disney Company’s India entities will reshape India’s media landscape The merger consolidates assets, including 100 TV channels, and the Disney+ Hotstar and JioCinema apps, along with rights to sporting events Reliance will own 16.34% stake, Viacom18 will have 46.82%, and Disney’s share will be 36.84% Nita Ambani has been named the Chairperson of the JV, with Uday Shankar, Cofounder of Bodhi Tree Systems, as the Vice Chairperson…

SUNIL BHARTI MITTAL admits to not being the best person to lead a company in peaceful and good times. “That is why I leave it to people like Gopal [Vittal, MD & CEO, Bharti Airtel] to do that. But when there is a crisis, you’ll find me right in the centre of action because I can bring a lot of stability,” he says. Look back at the growth of Mittal’s telecom business, and you note that the Founder and Chairman of Bharti Enterprises has weathered many storms, including regulatory regimes, cut-price competition, and quicksands in Africa. Mittal—whom the jury that decided the BT-PwC India’s Best CEOs picked as the Business Icon of the Year—is the only survivor from the mid-1990s when he was one of the pioneers of mobile telephony…

1983 Apollo Hospitals set up in Chennai; later, it expands to Hyderabad 1991-2000 Expands to Delhi, Madurai, and Visakhapatnam; ISO accreditation for Apollo Hospitals, Chennai 2000-2005 Apollo Hospitals, Delhi, first in India to receive JCI accreditation; expands to Bilaspur, Mysuru, Ahmedabad, and Kolkata; launches nationwide emergency number, 1066 2006-2013 Enters Bengaluru; launches Cyber-Knife robotic surgery system in Chennai; becomes the world’s busiest solid organ transplant centre; performs more than 130,000 cardiac surgeries 2014-2016 Introduces AskApollo and Apollo Diagnostics; launches Apollo Medical College 2017-2023 Completes more than 1,500 bone marrow transplants; launches Apollo ProHealth; delivers 8 million+ vaccinations…

In today’s corporate landscape, fostering inclusion isn’t just a moral imperative; it’s a strategic necessity. At L&T Finance Holdings Ltd. (LTFH), we believe in the transformative power of inclusion, both within our organization and in the communities we serve. Through our businesses like micro loans and impactful CSR initiatives like the Digital Sakhi project, we are committed to empowering women and promoting inclusion at every level. Driving Change Within: Governance and Equal Opportunities At LTFH, inclusion starts from within. Our commitment to diversity and providing equal opportunities is ingrained in the corporate DNA. Through robust governance practices and policy on Diversity, Equity and Inclusion, we ensure transparency, accountability, and fairness in our operations. This commitment extends to our hiring practices, where meritocracy reigns supreme, offering equal opportunities for all individuals…

"Empathy is the Mother of Excellence" This is the mantra Prof. Nair lives by, it epitomizes his dedication to cultivating a compassionate and growth-focused academic environment, leaving a lasting influence. As the Director of Thapar Institute and the Dean of Thapar School of Liberal Arts and Sciences, he is celebrated for his contributions to research, education, and organizational development. A Legacy of Excellence With a distinguished academic background that includes a Ph.D. from the University of Twente in the Netherlands, a Doctor of Engineering (Dr. Eng.) from the University of Tokyo, Japan, an MBA from Heriot-Watt University in the UK, and an M.Tech in metallurgical engineering from IIT, Kharagpur, India Prof. Nair brings over 33 years of combined experience to his roles. His journey spans diverse domains, from oil &…

The resolve of a developed Uttar Pradesh can only be realized by ensuring full opportunities for women at every level, harnessing the energy of the youth to accelerate progress, providing comprehensive support to the farmers who are the backbone of the nation's food security and addressing the needs and aspirations of the poor. Prime Minister Narendra Modi has already mentioned these four segments in his speeches earlier. With the empowerment and welfare of these four segments, the dream of a 'developed India' by 2047 can be realized. Echoing this vision, dynamic Chief Minister Yogi Adityanath has prioritized the development of four key groups: the poor, women, youth and food providers (annadatas), through a range of development schemes and adequate budget a/locations. Information and Public Relations Department, U.P.…

IT ALL STARTED WITH AN IDEA. For a young Sunil Vachani, the proposition was simple: to set up a company that would specialise in manufacturing electronic components and products on behalf of other firms. And with this idea, he approached his father for funds. But this was the early 1990s, and India then was a different place. Then, electronics manufacturing was confined mainly to television and refrigerators. Moreover, most leading players preferred to keep their production in-house. What we know today as electronics manufacturing services (EMS), was virtually unheard of back in the day. Vachani, however, was confident about its future. Freshly back from London with a graduate degree, the young entrepreneur’s journey took flight in December 1993 when his father finally agreed to back his plan. “He trusted me…

Bharat’s Historic Role in Healing and Health Bharat has historically shown humankind the way forward in the field of healing and medicine. Sushruta is referred to as the “Father of Surgery” in ancient India. His descriptions of surgical techniques laid the foundation for surgery. Charaka was an ancient Indian physician who is referred to as the “Father of Indian Medicine.” His work laid the foundation for Ayurveda and influenced medical practices. Yoga has been a guiding light to health over the millennia. However, for the past two centuries, the field of medicine has largely been dominated by technical advances from the West. But this is fast changing with the new Renaissance in Indian medicine, especially in the advanced field of Regenerative Medicine. Prime Minister’s Vision & Leadership in the Health…

IN THE HEART of Mumbai’s bustling cityscape, 57-year-old Kushal Narendra Desai’s influence reverberates far beyond the confines of his office in APAR House, nestled in Chembur. Dressed in a crisp business suit radiating quiet strength, Desai powers APAR Industries’ empire, which is spread across 140 countries. His demeanour may be soft-spoken and his presence unassuming, but his impact on the nation’s infrastructure is considerable. Through the manufacturing of cables, industrial lubricants, specialty oils, and conductors, his firm is perhaps the silent force behind the grand edifices and sprawling projects that define the landscape. “When one looks at a fancy-looking building, people appreciate the external things like the glass and signage. Our products are all hidden, but we do the bricks, the steel, and the network without which the building can’t…

ABOUT FIVE TO six years ago, Sailesh C. Mehta, Chairman & Managing Director of Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL), sat down with his strategic team with a simple yet loaded question. “What should we do over the next decade with our businesses?” he asked. The reason, in Mehta’s view, was simple. There was too much talk about price, but it was important to make the shift to value. In a simple conference room at his Pune office, the 62-year-old, who is a winner in the Natural Resources (Chemicals and Metals & Mining) category of the BTPwC India’s Best CEOs ranking this year, elaborates on the thought process. “I saw the invaluable knowledge we possessed in areas like fertilisers, industrial chemicals, and mining chemicals picked up over 40 years.…

THE COVID-19 PANDEMIC severely impacted the real estate sector, with the sudden lockdown crippling consumption and causing a steep decline in demand. In this situation, resilient businesses survived solely through determination and grit. Shishir Shrivastava, Managing Director of The Phoenix Mills Ltd., exemplifies this. With nearly 25 years of experience, the 48-year-old Shrivastava, winner in the Real Estate category of the BT-PwC India’s Best CEOs ranking, reflects on those times and says that when the virus threatened livelihoods, he had no choice but to intensify efforts and quietly prepare for the challenges ahead. What did he do? When most of his industry peers were scrambling in search of a survival strategy, Phoenix Mills, under his guidance, launched an upgradation drive for its retail assets. The company’s top line comes mainly…

Born in a simple, middle class family, Varadhan grew up surrounded by educators and academicians. As a result, the importance of education as a means to progress got ingrained into his psyche. Curiosity became his second nature and going beyond the syllabus, he grew up to be an avid student of the world around him. After completing his school education at Kendriya Vidyalaya ASC Centre, Bangalore, Varadhan went on to graduate in Mechanical Engineering from MNNIT Prayagraj (then Allahabad) in 1983. Later in his career he burnished his credentials with a much needed Management degree from OUBS UK. Varadhan started his professional sojourn with a brief stint in the mechanical maintenance in a Tyre MNC in the early 1980s. He discovered that mastering the marketing function would offer him the…

Born in Dehradun, Silky Jain Marwah is an alumni of Brightlands School and the prestigious Symbiosis Institute of Pune, where she earned a Masters degree in Digital Marketing and Fashion Communication. Joining the Tula Institute of Dehradun when she was just 22, Silky aided her father to transform the institution and steer it to greater heights. This catapulted her into the limelight, as the first woman in Uttarakhand to etch an indelible mark in the historically male-centric realm of education management. Silky’s leadership heralded a transformative era for the Tula Educational Institutions. Teaming up with her younger brother, she pioneered innovative marketing and growth strategies, propelling TIS to emerge as one of India’s premier co-ed boarding schools in record time. Her trailblazing marketing initiatives complemented TIS’s educational excellence, earning it…

Indian firms like Tata group and CG Power are setting up chip testing and packaging units in the country OSAT units require lower investment, less land, and less power than fabrication units, and can become operational in a year and a half By setting up OSAT units, Indian firms can reduce import dependence, and cater to the growing domestic and global demand for chips The HCL and Hiranandani groups also have plans to set up OSATs considering the surge in chip production OSAT units also play a crucial role in semiconductor manufacturing as they package and test the silicon chips In the long run, they could look at advanced packaging and gradually develop their own product $69.19 BILLION OSAT market pegged to reach this figure by 2029, growing at a…

It may be a gloomy winter city with little international connectivity in a cold country where agriculture is a challenge. But Copenhagen, the capital of Denmark, is the undisputed gourmet capital of the world. Much of this is down to just one restaurant: René Redzepi’s Noma. With three Michelin stars, Noma is the most influential restaurant of our era and has been rated the ‘World’s Best Restaurant’ by The World’s 50 Best Restaurants a record five times. Its influence radiates globally, with alumni and former interns finding fame in their home countries (including Indian chefs like Prateek Sadhu, Gresham Fernandes and Garima Arora). The success of Noma has played a pivotal role in propelling Copenhagen to emerge as an adult playground for global gourmets who can afford to jet in…

In the world of investing, the phrase bias for action implies a tendency to act and change your position frequently in the belief that it would improve your chances of success. This is in contrast to inaction, which is an option, and may possibly be the right choice. Human beings often mistake activity for productivity, something which is visible in the tendency to switch lanes in a traffic jam – or trying to honk your way through it. Taking action in complex situations make us feel better irrespective of the outcome. In case of a positive outcome, action bias helps us attribute success to our actions. In case of a negative outcome, we feel that at least we tried! In either case, the story can be spun in our favour.…

LIKE MANY ENGINEERS before him, Satish Pai headed for foreign shores after picking up a degree in mechanical engineering in 1985 from IIT Madras. For 28 years, he worked for the US-based oilfield services company Schlumberger. In 2013, he returned to the country of his birth to take charge of Hindalco’s aluminium business. Working for the Aditya Birla Group, a diversified $65-billion conglomerate, promised to be an interesting experience. And surely, it hasn’t disappointed him, since Pai, Managing Director of Hindalco Industries, has had to navigate the company through many twists and turns across markets. He is looking to position the company as a downstream value-added player, even as it looks to ramp up its play in copper. But Pai, winner in the Super Large Companies category of the BT-PwC…

THE MEGA MERGER BETWEEN the erstwhile IT majors Mindtree and Larsen & Toubro Infotech (LTI) was announced in May 2022; its significance for the diversified multinational conglomerate L&T was visible from the fact that none other than then LTI Chairman A.M. Naik and Vice Chairman S.N. Subrahmanyan announced the merger, addressed the media, and took on the barrage of questions. The two listed entities started operating as a single merged company—now the fifth-largest IT services firm in the country—from November 14, 2022. However, the seeds of the merger were sown much earlier. They had been working together on several deals even before the merger. It was the pandemic that pushed the clock back. “If Covid-19 had not happened, then the merger of LTI and Mindtree would have happened earlier. The…

In Uttar Pradesh, education is not just about imparting knowledge; it's about empowering minds and building futures. The state's commitment to inclusive education is evident in Its various Initiatives. • Enrollment of more than 1.92 crore students in the School Chalo campaign • Infrastructure enhancements in 1.40 lakh+ primary/upper primary schools under Operation Kayakalp • A sum of Rs. 1,200 per student is being directly transferred to the bank accounts of parents through DBT for uniforms, school bags, socks, shoes etc. • Establishment of state universities in Azamgarh, Aligarh and Saharanpur • Construction of the Uttar Pradesh State Institute of Forensic Science in Lucknow • Establishment of 15 incubation centers under the startup policy • Dr. Rajendra Prasad National Law University established in Prayagraj • Construction of Major Dhyan Chand Sports University underway in Meerut • Decision to…

The landscape of healthcare in Uttar Pradesh has undergone significant enhancements, marked by a commitment to provide free medicines and improved medical facilities to its residents. This transformative journey is characterized by several key initiatives aimed at bolstering healthcare infrastructure and accessibility across the state. • AIIMS operational in Gorakhpur and Raebareli • Commitment to establish one medical college per district • Expansion of medical education with 65 operational and 22 under construction medical colleges • Implementation of comprehensive medical insurance, covering up to Rs. 5 lakh per family for 9 cro beneficiaries through Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY) and Mukhyamantri Jan Arogya Yojana • Facility of free dialysis across all 75 districts • The number of MBBS seats has surged from 1840 to 3828 in government…

• Facilitation of digital trade worth Rs. 3,468 Crore through the National Agriculture Market (e-NAM) • The food grains production witnessed a growth rate of 5.1% and production of more than 625 lakh metric tonnes of food grains and 21.57 lakh metric tonnes of oilseeds • A total of 4,18,483 Kisan Credit Cards (Animal Husbandry component) have been issued to all farmers engaged in animal husbandry • New green field dairy plants have been established in the districts of Varanasi, Moradabad, Gorakhpur, Kannauj, Bareilly, Lucknow and Ayodhya, and are under construction in Kanpur and Meerut • During the Kharif season of 2023-24, around 50.18 lakh metric tonnes of paddy were procured from 7.50 lakh farmers under the Minimum Support Price (MSP) scheme. An amount of about Rs. 10,856 crore has…

VNEET S. JAAIN has an interesting take on the word “impossible”. To the Managing Director of Adani Green Energy Ltd (AGEL), the word simply means “I’m possible”. To the 53-year-old, the refusal to take calculated risks in favour of a safe path translates to succumbing to failure by default. This mindset inspires his daily routine at work, and it has guided him to a successful career over the past two decades. For instance, after almost one and a half decades with the Delhi-based Jindal Steel & Power Ltd (JSPL), Jaain chose to face fresh challenges, both geographically and professionally, by joining the Adani Group in Ahmedabad in the mid-2000s. “I was in my comfort zone. I was working very closely with the late O.P. Jindal and his sons. I was…

UP signifies 'Unlimited Potential. The State neither lacks 'manpower' nor 'willpower. The state has assimilated respected the Prime Minister's instructions on value addition and framed its policies. Transformation with speed is the new identity of UP. This land is blessed by sages and saints and has received the divine blessings of rivers like Ganga, Yamuna and Sarayu. It is a land of virtue as well as 'enterprise and entrepreneurship. Uttar Pradesh is the blessed land of 'Prakriti' (nature), 'Parmatma' (God) and 'Pratibha' (talent). The 'New Uttar Pradesh', as the growth engine of the country, is transitioning from being 'Uttam Pradesh' to becoming an 'Udyam Pradesh,' in order to evolve into a 'Viksit Pradesh' in alignment with the resolve of a Viksit Bharat. Now people have started saying that Surakshit Nivesh…

IN 2009, WHEN Varun Jaipuria returned to India, fresh from completing his studies in the UK, the idea of diving into his family’s business seemed distant. Instead, he longed to savour a year of youthful freedom and exploration. But destiny wanted him to walk a different path. Hailing from a traditional Marwari family, Jaipuria was tasked with overseeing the family’s bottling business in Sri Lanka. Fast forward 15 years, and as the Executive Vice Chairman of Varun Beverages (VBL) now, he has plenty to celebrate. Steering a family business to unparalleled success is no easy feat, yet Jaipuria has achieved what many second- and third-generation businessmen still strive for. At the age of 36, he is one of the youngest recipients of the BT-PwC India’s Best CEOs award. He has…

ClearMedi Healthcare backed by Morgan Stanley is on the journey of expansion. Currently, operating 4 hospitals in cities of Mysore, Nanded and Gwalior along with 10 partner hospitals. The earlier model of ClearMedi which was focused on oncology is now moving to multispeciality care. They are known to be the pioneers of healthcare in providing care equality in deeper underserved sections of the society. Across India, everyday they have approximately more than 600 patients on couch across all their LINAC sites. They have been operating into locations as far as 7 hrs inside the city of Hyderabad in Nanded at ClearMedi Monark Cancer center, 2hrs inside Baroda at Kailash Cancer Care Centre. What we call as conductors of healthcare – Technology, primary care physicians and specialities, health insurances and hospital…

LAURUS LABS, once a leading manufacturer of antiretroviral (ARV) drugs, is undergoing yet another transformation under Satyanarayana Chava, its Founder & CEO. Until 2011, ARVs—a group of medication used to manage and treat human immunodeficiency virus (HIV) infection—accounted for a substantial portion of the company’s revenue. Then it made a strategic shift towards becoming an active pharmaceutical ingredient (API)-focussed company. Subsequently, the company forayed into the formulations business in 2014, which helped it become an integrated pharma company by 2020. As a result of that shift, the ARV API contributes only 25% of revenues now, while the contract development and manufacturing organisation (CDMO) segment has seen significant growth. The success of these shifts is evident in the numbers. Over the past five years, Laurus Labs, which was founded in 2005,…

LIKE FOR MANY executives across the world, the Lehman moment in 2008 was a big wake up call for Bharat K. Sheth. “We were always conservative as a company. Lehman taught us we were not conservative enough for Black Swan events and that was a huge learning,” says the Deputy Chairman & Managing Director of The Great Eastern Shipping Co. Ltd. It was time to get back to the basics, and that meant revisiting the risk model. From a fundamental point of view, it was about defining risk and how to prepare for the unexpected. “Shipping is a very capex-intensive business, and everything hinges on capital allocation. The question is: What is the leverage within which you are willing to play the game,” explains Sheth. A decision to cut back…

Not for nothing does Dr. Dr. Amarjeet Singh Saluja’s company have a tagline that says – Mazbooti Sab kuch hai. Over the years, Saluja Steel and Power has evolved as a trusted source for Top-Quality, high-grade TMT bars that redefine strength and reliability in the construction industry. Their Saluja Gold TMT bars are renowned for their exceptional and unmatched strength, durability, and flexibility, making them the ideal choice for all construction needs. Established in 1974, Saluja Steel and Power has a production capacity of 30000 metric tons of TMT bars every month. As a leading brand, it commands a healthy market share in Jharkhand, Bihar, West Bengal, Odisha, Jammu & Kashmir and the North East. The 50 year company has consistently delivered products that have transcended generations. At its state-of-art…

Raamdeo Agrawal, Group Chairman and Co-founder of Motilal Oswal Financial Services, is a veteran of the stock markets who has seen many a cycle in his long career. The author of an annual wealth report—which he has been passionately spearheading each year for nearly three decades—the 66-year-old believes that even though this is an election year, the political overhang on the markets has diminished. In an interaction with Business Today’s Ashish Rukhaiyar, Agrawal says that this is a fascinating time for investors to be in the stock markets because volatility has gone down as domestic investors, including retail, are providing huge support to the markets even as foreign investors have turned net sellers again in the current calendar year. Edited excerpts: Q: How do you view the political overhang on the…

PRE-SILICON DESIGN ● FRONT END: SoC design, prototyping and validation ● BACKEND: Physical design, verification, synthesis and timing analysis ● ANALOG & MIXED SIGNAL: Circuit design and layout POST-SILICON VALIDATION AND EMBEDDED DEVELOPMENT ● Post-silicon functional validation, automated test engineering, characterisation and certification ● Embedded hardware and software ● OSAT development AFTERMARKET SUPPORT ● System re-engineering and obsolescence management ● Value engineering and sustenance engineering SOURCE TECH MAHINDRA…

Shops at a spice market in Faridabad, Uttar Pradesh Data as of February 21, 2024 SOURCE: CMIE ECONOMIC OUTLOOK 307% Surge in the average price (wholesale) of garlic in the past year—from ₹4,479 per quintal on February 21, 2023, to ₹18,228 per quintal on February 21, 2024 79% The rise in the average price (wholesale) of ginger during the same period—from ₹4,977 a quintal to ₹8,914 per quintal 70% Jump witnessed in the average price (wholesale) of turmeric in the past year—from ₹6,231 per quintal on February 21, 2023, to ₹10,571 per quintal now…

THE MUCH-AWAITED BT-PwC India’s Best CEOs ranking for this year has winners from diverse fields. It reflects the challenging phase India Inc. has faced, with increasing geopolitical tensions being one of the most prominent risks. This underscores the need for companies to have robust business models that can withstand the shocks. What is clear from conversations with these industry captains is that they place equal emphasis on growth strategy and the need to be agile to face any unexpected event. That event could be a policy change, or a war, or trade-related issues, or even extreme weather events. This is a time when India Inc. is clearly intertwined in the global economy and every decision has ramifications greater than what it was, say, a decade or two ago. Of course, it…

THE PLAYBOOK IS well worn: (i) Move abroad for higher studies; (ii) work overseas; (iii) identify a problem statement in India and devise a solution; (iv) move back; (v) build a successful company. These are the five steps to success for many recent Indian entrepreneurs. Dr Prathap C. Reddy, 91, winner of this year’s BT-PwC India’s Best CEOs award for Lifetime Achievement, did something similar, but 50 years ago! Reddy completed his MBBS from Chennai’s Stanley Medical College and then trained in the US. He then had a flourishing practice as a cardiologist. One day, a letter arrived from his father, which had a profound impact. Reddy and his family decided to return to India in the early 1970s. Back in Chennai, his practice flourished, but he also faced a stark reality:…

DESPITE A BUSY work schedule, Sanjiv Puri is particular about two things: he begins each day with 30 minutes of meditation and ends it with 45 minutes of yoga, regardless of where he is. The meditation and yoga help Puri, 61, the Chairman and MD of ITC, steer the company’s diverse businesses. Since he took charge as MD in May 2018 and Chairman a year later, ITC has grown rapidly across segments, be it on revenue, profitability, or market share. The ITC stock, which the markets did not warm up to for many years, has surged over the last 24 months by 86.18%. For a company primarily associated with cigarettes, the growth in its FMCG business has placed it in the industry’s top deck. Last year, ITC announced the much-expected…

FIVE YEARS AGO Ramkrishna Forgings Limited (RKFL) found itself navigating a challenging business landscape. Things got worse when the pandemic struck, compelling the founders and the leadership team to reassess their strategies. What precisely led to this downturn? The company’s financials paint a vivid picture of the existential crisis. From a robust bottom line of ₹120.11 crore in FY19, RKFL witnessed a stark decline to ₹9.70 crore in FY20, followed by a modest recovery to ₹20.67 crore in FY21. “The transition of Ramkrishna Forgings started four-five years ago. There are two RKFLs actually—one pre-pandemic and the other one post-pandemic. RKFL had a different kind of working style post the pandem-ic,” says Naresh Jalan, 47, Managing Director of RKFL, who has emerged as the winner in the Emerging Companies category of…

Investments worth lakhs of crores of rupees are pouring into Uttar Pradesh. As an MP from Uttar Pradesh, witnessing developments in my state fills me with immense joy. Today, work is commencing on thousands of projects. These upcoming factories and industries are poised to transform the landscape of UP. I extend heartfelt congratulations to all investors, particularly the youth of Uttar Pradesh. In the last 7 years, culture of "red tape" has been replaced with the "red carpet" for investors. I have full faith in the power of UP and the hard work of the Double Engine Government. - Narendra Modi Prime Minister *At GBC-4.0, Lucknow Information and Public Relations Department, U.P.…

Prime Minister Narendra Modi's visionary leadership has propelled Uttar Pradesh into a new era of development, particularly in enhancing transportation infrastructure. Under Chief Minister Yogi Adityanath's decisive governance, the state has witnessed remarkable progress in highways, expressways and road networks. These initiatives have not only reduced travel times but also significantly improved connectivity between cities and towns, fostering economic growth and enhancing the quality of life for the state's residents. The efforts of the double-engine government have truly transformed Uttar Pradesh, marking a significant milestone in its journey towards prosperity. • 6 expressway operational, 7 under construction• Country's largest rail network• Eastern and Western dedicated freight corridors intersecting at Dadri• Country's.first Inland Waterways connecting the eastern port of Haldia• Highest number of airports with 21 airports 10 operational & 11…

IN SEPTEMBER 2023, Bhargav Dasgupta stepped down from his role as CEO and MD at ICICI Lombard General Insurance Company after 14 long years. During that tenure, he achieved significant milestones that laid the foundation for increased transparency and accountability in the industry. Under his leadership, ICICI Lombard became the first general insurance company to be listed on the bourses in 2017. “We are a listed company, very focussed on transparency and disclosure. The challenge was that most of our competitors were unlisted, and they didn’t have the same demands on them in terms of disclosure and transparency. I strongly believe that companies should list after 10 years because the discipline of listing is good for the industry,” says Dasgupta. For the insurance veteran, the listing was just one of…

ASK K.C. JHANWAR what UltraTech Cement has been doing over the past three years and pat comes the reply: “Our philosophy is to work on a long-term vision and plan, which is value-accretive to all stakeholders.” The company’s Managing Director explains that this includes all spheres of the business from operational excellence to new product development, a high focus on green products and brand building. “None of this can be achieved without having high empowerment and agility across the organisation,” says Jhanwar, a chartered accountant by training. Cement is an intensely competitive business and UltraTech is the largest player—it has an installed capacity of 140 million tonnes per annum (mtpa); the Adani Group, through various entities, is the second largest at around 75 mtpa. “We have been on a significant…

In the heart of Uttar Pradesh, the ancient city of Mathura awakens each year to a vibrant spectacle of hues and heritage during the Mathura Rangotsav, also known as the Festival of Colors. Under the decisive leadership of Chief Minister Yogi Adityanath, this traditional celebration has blossomed Into a cultural extravaganza that not only rejoices in the timeless love of Radha and Krishna but also beckons tourists from far and wide to witness its splendor. The Mathura Rangotsav, deeply rooted in the region's rich history and mythology as as the birthplace of Lord Krishna, holds a special place in the hearts of Hindus around the world. Chief Minister Yogi Adityanath's commitment to and preserving India's cultural heritage has been promoting Instrumental in revitalizing the Mathura Rangotsav on a national and…

THE WINDS OF CHANGE are blowing all over Torrent Power, which is headquartered in Ahmedabad and is considered one of India’s foremost power utility companies. Spearheading this transformation is 40-year-old Jinal Mehta, the company’s soft-spoken Managing Director and the recipient of this year’s BT-PwC India’s Best CEOs award in the Energy category. And it would be a truism to say that within the rigorous landscape of the power industry, Torrent’s ambitious vision mirrors Mehta’s own unwavering determination to succeed. “The foundation of our strategy is that we are one of the few integrated energy companies. We think a play across the value chain would help in meeting the needs of the energy transition,” outlines Mehta. The eventual plan is clear—to have clean energy round the clock. Mehta envisions that it…

ORCHESTRATING EXCELLENCE IN LEADING HOSPITALS DELVES INTO THE INTRICATE WORLD OF HEALTHCARE LEADERSHIP, EXPLORING THE PIVOTAL ROLES AND INNOVATIVE STRATEGIES OF THOSE AT THE HELM OF THE WORLD’S PREMIER MEDICAL INSTITUTIONS. THIS COMPREHENSIVE GUIDE ILLUMINATES THE MULTIFACETED APPROACH REQUIRED TO NAVIGATE THE COMPLEXITIES OF MODERN HEALTHCARE DELIVERY, EMPHASIZING THE BLEND OF CLINICAL EXPERTISE, VISIONARY LEADERSHIP, AND OPERATIONAL ACUMEN NECESSARY FOR EXCELLENCE. THROUGH INTERVIEWS, CASE STUDIES, AND ANALYSIS, IT OFFERS A DEEP DIVE INTO THEM.…

Dr. Minnie has played an instrumental role in bringing a positive transformation at Wadia Hospitals and shown compassion towards the underprivileged Women and Children of our Nation. With her dedication, excellence, innovation and sustainable vision Wadia Hospitals being charitable semi-government organizations are providing quality, safe and affordable healthcare at par with top corporate hospitals to the underprivileged Women and Children of our nation. Dr. Minnie possesses strong domain knowledge in implementation and execution of business strategies, ensuring high-quality standards in service delivery, identifying control enhancement modules; escalating significant issues identified and proposing resolutions. She is highly experienced in successfully managing diverse groups of people as well as handling union committees. A visionary and ethical enterprise originator, she nurtures and executes new ideas, engages in multiple projects, recreates branding for organisations,…

One of the vital responsibility of the CEO of any given healthcare institution would be to see to it that skills of the entire workforce remains relevant with the ever changing times, meeting all sorts of expectations not only of patients but their attendants also, this includes management of doctors and their approach towards their patients in accordance with the same idea. The CEO plays a crucial role in overseeing the overall management, strategic direction, and day-to-day operations of the hospital. The responsibilities of a CEO in a tertiary care hospital are extensive and varied, encompassing both administrative and strategic responsibilities. Develop and implement strategic plans to ensure the hospital’s long-term success. This involves setting goals, defining objectives, and establishing policies to guide the organization. Oversee the hospital’s financial health,…

Visionary Leadership, Exceptional Growth Dr. Deepak Namjoshi and Dr. Masuuma Namjoshi’s visionary leadership has propelled Criticare Asia to new heights. A stellar team of expert consultants, dedicated junior doctors, and compassionate nursing care, coupled with cutting-edge technology, has been the recipe for their success. Excellence as Standard: NABH Accreditation and Beyond Every Unit of Criticare Asia Hospital proudly boasts NABH accreditation, a testament to their commitment to international guidelines and protocols. It’s not just a hospital; it’s a promise of world-class healthcare. Pinnacle of Expertise: Specialized Surgeries and Breakthroughs From CABG to HIPEC, Neuro and Spine surgeries and groundbreaking Robotic Knee Replacements, complex angioplasties, Transcatheter Aortic Valve Implantation (TAVI), and intricate endoscopy procedures, Criticare Asia is at the forefront of specialized treatments. They’ve not just embraced innovation; they’ve defined it.…

WITHIN THE TATA ELXSI universe, each customer conversation revolves around the compelling concept of “design as a differentiator,” crafting a business narrative that goes beyond the ordinary. With each passing shift in design, the company has been consistently reinventing itself, always staying ahead of the curve to embrace emerging trends long before they become mainstream. “We have been building our industrial design business for almost 12-13 years; that’s a strong differentiator when it comes to leading conversations with customers using design as a distinguishing factor. Increasingly, now we’re talking of ‘design digital’ as a differentiator as the world moves more and more towards the digital side,” Manoj Raghavan, CEO and Managing Director of Tata Elxsi, says. The Bengaluru-based design and technology services company has been at the forefront of leveraging…

AS ONE OF the oldest-serving employees of Rail Vikas Nigam Ltd (RVNL), Pradeep Gaur, its current Chairman and Managing Director, has seen the rail PSU come into its own. RVNL was incorporated in 2003 with the twin objectives of implementing projects related to creating and augmenting the capacity of rail infrastructure on a fast-track basis and raising extra budgetary resources for SPV (special purpose vehicle) projects. It began operations in 2005, and Gaur, a 1987 batch IRSE (Indian Railway Service of Engineers) officer, joined RVNL soon after. Over the past 19 years, he has seen the company grow and has also played a significant role in its transformation in recent times after he became its chief in 2018. He also oversaw the company’s listing in 2019, when the government sold…

WHEN RAJNI HASIJA took additional charge as the Chairperson and Managing Director of the Indian Railway Catering and Tourism Corporation (IRCTC) in February 2021, the public sector undertaking (PSU) was reeling from the body blow of the pandemic like other entities in the travel and tourism sector. No stranger to the IRCTC, she had served two terms at the PSU in the capacity of Group General Manager, handling the IT business segment, and being overall incharge of an entire zone. She also played a pioneering role in the inception and development of the internet ticketing site of the railways, www.irctc.co.in. But those stints did not prepare her for the unprecedented challenges facing IRCTC—which focusses on rail ticketing, catering, tourism, and bottled water product Rail Neer—in 2021. “When I signed my…

Dr. Satya Vadlamani & Dr. Vijay K. Shastri established Murli Krishna Pharma Private Ltd.(MKPPL) in early 2004. This young and dynamic duo is pioneering NanoSphere Innovations in India, providing a range of effective solutions to optimize the delivery of pharmaceutical products. Nanospheres are a polymeric matrix of spherical shape that ranges in size between 10 and 200 nm in diameter. The drug is dissolved, entrapped, encapsulated, or attached to the matrix of polymers that are biodegradable and biocompatible. Nanospheres have small particle size making them suitable to oral administration, locally and systemically. They can penetrate the tissue and cell gap to reach the target organs. Moreover, attachment of the ligand on the surface of a sphere facilitates site-specific targeting. Reduced toxicity makes them more preferable for drug delivery. When an…

Padmaja Reddy knows the magic that timely finance can do. A domain expert, she has seen how rural and small entrepreneurs miss out opportunities because they are up against the challenge of liquidity. She took over as the Promoter and Managing Director of Keertana Finserv in April 2022. Prior to that, she served as the Managing Director of Spandana Sphoorty Financial Limited, the second largest MFI in India. She shared her thoughts answering questions that were posed to her. WHAT INSPIRED YOU TO START KEERTANA FINSERV? I established a Micro Finance Institution, Spandana in 1998. It became the second-largest Micro Finance Institution by 2009. We were to go public when the Andhra Pradesh (AP) Government implemented an ordinance, bringing microfinance activities in the state to a standstill. The company’s net…

THE RECENT announcement of a partnership between the Taiwanese semiconductor major Foxconn and the HCL Group for setting up an assembly and testing facility has been met with a lot of enthusiasm. Talking to Business Today during the World Economic Forum event at Davos in Switzerland recently, HCL Technologies Chairperson Roshni Nadar Malhotra speaks about that partnership, the world of semiconductor designing, chip manufacturing, and what makes HCL the most suitable company to enhance India’s semiconductor dreams. Edited excerpts: HCL Group has announced a major partnership with Foxconn for chip packaging and testing. What is this about? Let me rewind a little bit. The genesis of HCL, starting from 1976, was in manufacturing and [it] was in creating India’s first indigenous 8-bit processor-based PC. We shipped the same day as Apple, but we were…

Mobile Manager There are times when a CEO may need to take quick decisions on the go. While a top flagship mobile phone can substitute a laptop, there are times when a bigger screen is needed. That’s when you need a foldable like the OnePlus Open. Its 6.31-inch cover screen is ideal for typing and browsing, while the 7.82-inch unfolded display is perfect for Excel sheets and presentations. It automatically resizes apps to make optimal use of the larger screen, enabling efficient work on emails, documents, and collaboration on platforms like WhatsApp. The triple-camera set-up is top notch, and the phone is powered by the robust Qualcomm Snapdragon 8 Gen 2 processor. It comes with a 4,805 mAh battery that lasts more than a day. Although it does not support…