India now volume1_issue1

IndiaNow
Businessand
EconomyAPRIL-MAY 2014 | Volume 01 | Issue 01
innOVATION CORNER
A patented mosquito trapper
that is eco-friendly and efficient
emerGING ENTREPRENEURs
Serial entrepreneur couple
script their fifth success story
INSIDE
ruRAL UPDATE
It’s a vision of sustainability that
drives their development agenda
Big
India scripts unique e-commerce success story
Online
Bazaar
The

2 april-may 2013 www.ibef.org
2 OCTOBER-NOVEMBER 2013 | www.ibef.org
For updated news analysis on Indian business and economy
Log on to www.ibef.org
India’s internet industry is set to contribute
up to US$ 100 billion to the country’s
GDP and generate 22 million jobs by 2015.
connEcTing THE DoTS

editorial
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www.ibef.org
Volume 01 | Issue 01 | APRIL-MAY 2014
Sangita Thakur Varma
M
alls are passé. For the Indian consumer cyber-
space is the new hangout for window shop-
ping. Here there are no traffic snarls, long
queues to park your cars, dust and grime, or
extremes of weather. You don’t need ready
cash. It’s available at COD (cash on delivery). You can shop from
your car, café, bar, home, office, college…you choose your com-
fort zone, time and space. You don’t need to hop from one brand
store to another to check out the latest—just flick your finger and
choose the right option and zoom! Well, we are talking about
e-commerce. And e-commerce is not just retail therapy but B2B,
B2C, C2C and in multiple formats. With the Indian economy at
the cusp of an e-commerce boom, the world is logged on for a
slice of this exciting pie. Read all about it in our Cover Story.
This couple is a dynamic combination of wit, grit and ambi-
tion. Into their fifth enterprise, serial entrepreneurs Meena and
K Ganesh have again hit the right notes with their homecare
venture Portea Medical. A first in India, this outfit, providing com-
prehensive healthcare at home to patients, is already a startup suc-
cess. We meet them in Emerging Entrepreneurs. What wouldn’t we
do to get rid of those deadly bugs? Yes, with summer at its peak the
mosquito menace is back. We discovered just the right innovation
to combat the growing buzz—MozziQuit. A mosquito trapper that
is cost effective, efficient and eco-friendly. Grassroots development
needs sustainable and replicable initiatives. Here is an enterprise
that has been perfecting the right approach. Drishtee is an inspiring
account of three youngsters and their many endeavours that are
impacting the rural space positively.
This issue we have some insightful stories on India. Discover it.
India’s Golden Era
of Cyber Shoppers
World wants a slice
of the pie.
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Contents
12
Please Recycle
This Magazine
And Remove
Inserts Before
Recycling
Publisher, Printer Monika Choudhry has got ‘India Now Business and Economy’
printed by GH Prints Private Limited, A-256 Okhla, New Delhi-110020; and
published from Apparel House, 519-522, 5th Floor, Sector – 44,
Gurgaon – 122 003 on behalf of India Brand Equity Foundation (IBEF), Ministry
of Commerce, Editor – Anuradha Das Mathur.
APRI L-M AY 2 014
VolumE 01 | Issue 01
CoverDesign:pradeepgnair
Cover Story
18 | India Logs on to Shop
It’s an online festival in India for
consumers, sellers, investors and all
other stakeholders connected to the
e-commerce space as the market is
forecast to grow sevenfold by 2020.
14 | Full speed
ahead Yamaha India knows
what young Indians are looking
for and is supplying it aplen-
ty—style, speed and value for
money. It has the youth chorus-
ing YES! Yamaha in unison.
56 | More than just
paranthasDelhi is the
street food capital of India
tracing its cuisines to history. For
instance, the parantha, a breakfast
staple, has an alley devoted to it
that goes back 150 years.
18
MNC Watch
arts & culture
2 APRIL-maY 2014 | www.ibef.org

48 48 48
20
36
30 | Turning Health to Wealth
Portea Medical is the brainchild of serial
entrepreneur couple Meena Ganesh and
K Ganesh. Their fifth venture, the home
healthcare enterprise, is already a hit.
Emerging Entrepreneurs
SECToral update
10 | “While marketing to Gen-y re-
member to always remain relevant”
Venu Madhav, Director, Cafe Coffee Day, on the
company’s success mantra and future plans.
Interview
52 | The big bug slayer
An effective weapon to fight the mosquito menance
is finally within our reach. It is a patented and
awarded mosquito trapper called MozziQuit.
Innovation Corner
RegulArs
01 | Editorial
04 | National Round-up
08 | india watch
48 | Made in India
60 | Tourism Update
64 | rural update
67 | Bookshelf
38 | insurance:
Policy Success
Phenomenal growth in the last
decade and innovative plans
ensure that the industry will
grow to US$ 280 billion by 2020.
45 | business
aviation: Raring to Go
Economic prosperity has given
wings to the business aviation
sector with Indians increasingly
looking to fly privately.
41 | water: Thirsting
for Success India’s
growing water needs and the
rising opportunitities in all
water verticals make the sector a
global investment destination.
48 4848
30
10
34 | Agrochemicals:
The Right Growth Input
The crop protection industry, growing
at 12 per cent per annum, is an export
success and is experiencing rising
domestic demand.
3www.ibef.org | APRIL-maY 2014

4 april-may 2014 | www.ibef.org
National
Round-up
Voice of A visionary
“I have always been very confident and very
upbeat about the future potential of India. I
think it is a great country with great potential.”
—Ratan Tata, Chairman Emeritus, Tata Sons
India’s
share of
world GDP
Indiathird-largestinPPPTerms
Owns 6.4 per cent of the global GDP
A recent report by The World Bank declared
India the third largest economy in the world,
ahead of Japan, based on purchasing power par-
ity (PPP). This count is done every six years by
measuring economies on the basis of their PPP.
The US is ranked at the top spot followed by
China.
According to the report, PPP is price relative
and shows the ratio of prices in national curren-
cies of the same goods or services in different
economies. Compiled by The World Bank under
the International Comparison Programme (ICP),
it is a worldwide statistical initiative—the largest
in geographical scope. This round (ICP 2011),
covered 199 countries. In the 2005 survey, India
was ranked the 10th largest economy. Based on
the PPP measure, the US controls 17.1 per cent of
the world’s gross domestic product (GDP), while
China has 14.9 per cent and India owns 6.4 per
cent with Japan in the fourth spot with 4.8 per
cent. In the GDP measure, the six largest middle
income economies—China, India, Russia, Bra-
zil, Indonesia and Mexico—account for 32.3
per cent of world GDP, whereas the six largest
high income economies of US, Japan, Germany,
France, UK and Italy account for 32.9 per cent.
Data Briefing
photobythinkstockphotos.in
6.4%

National Round -upNational Round -up
Anticancer Molecule Trials Pact
Aurigene Discovery Technologies, a
Bengaluru baseddrug discovery services
company, has signedanagreementwith
Pierre Fabre, a French pharmaceutical
company, to developinto clinical trials a
newmolecule calledAUNP-12—the first
anticancer molecule licensedby Aurigene.
RESEARCH UPDATE
They
Said it
Jen Psaki
Washington, May 13, 2014
Indiahasorganised“the largest-
ever free andfair democratic
electioninhumanhistory… an
inspiringexample ofthe power
ofthe democraticprocessin
action,andthe UnitedStates,
like somanyothersaroundthe
world,hasgreatadmirationand
respectfor the vibrancy,diversity
andresilience ofIndia’s
democracy.”
India has 54 of World’s Larg-
est Cos In Forbes Global 2000
india is home to 54 of the world’s most powerful and largest companies, as
ranked in Forbes' annual list of the world's 2000 largest and most powerful
public companies. The Forbes ‘Global 2000’ is a comprehensive list of the
world’s largest, most powerful public companies, as measured by revenues,
profits, assets and market value. The US with 564, retained its dominance as
the country with the most Global 2000 companies, while Japan trailed behind
the US with 225 companies on the list.
Mukesh Ambani led Reliance Industries ranked 135 on the list with a market
value of US$ 50.9 billion and US$ 72.8 billion in sales as of May 2014. It was
followed by State Bank of India which is ranked 155 and has a market value of
US$ 23.6 billion. Other Indian companies on the list included Oil and Natural
Gas ranked 176, ICICI Bank (304), Tata Motors (332), Indian Oil (416), HDFC
Bank (422), Coal India (428), Larsen Toubro (500), Tata Consultancy Ser-
vices (543), Bharti Airtel (625), Axis Bank (630), Infosys (727), Bank of Baroda
(801), Mahindra Mahindra (803), ITC (830), Wipro (849) et al. This year’s
companies are from 62 countries, up from 46 in the inaugural 2003 rankings.
— Jen Psaki,
Spokeswoman,US
State Department

National Round -up
Sound bytes
“We held
investor
meetings
in the
US...and the level
of optimism about
India is very high.I
have not seen such
interest in recent
times,we could see
huge portfolio flows.”
“India is
going to
redefine
modern
healthcare…This
is going to be a
game changer...the
solutions found in
the Indian healthcare
market are going to
find their way to the
US and Europe...this
is the most important
entrepreneurial
healthcare market in
the world.”
Jeff Immelt, CEO, General Electric
“The US is
committed
to working
with India
to fully unlock the
true potential of our
economic ties.”
Nisha Desai Biswal, Assistant
Secretary of State for South and
Central Asia, US
India is the cheapest major
economy in the world, says
a survey report of global
prices of products that are
comparable across countries.
The report by Deutsche Bank,
the German banking giant,
said that a weaker Indian
rupee has allowed the country
to remain the cheapest major
economy in the world. The
survey is an overview of
prices and price indices of
a wide array of goods and
services from around the
world. The data was culled
both by directly surveying
prices posted on the internet
and from secondary sources.
The report titled The
Random Walk, Mapping
the World's Prices 2014
found Australia to be the
overall most expensive
India world’s most affordable
market To cross US$ 5 trln by 2025
major economy, while the
United States is the cheapest
developed country. For a
developing country, Brazil was
found to be very expensive.
China on the other hand is very
cheap in some categories like
car rentals, while for a number
of branded goods, it is more
expensive than the US.
Another study by Morgan
Stanley forecasts the
Indian economy crossing
the US$ 5 trillion mark by
2025 with improvement in
macroeconomic indicators
and steady implementation of
policy reforms.
“In our base case, we expect a
steady pace of implementation
of policy reforms, which will lay
the foundation for the country's
real GDP growth to move
higher to an average of 6.75 per
cent over the next 10 years,”
the research report said.
If the report’s projections
come to fruition, India would
join ranks with the US and
China, the only countries to
have crossed the US$ 5 trillion
mark, and become the fifth
largest economy (from 10th
currently) in the world.
The report noted that the
effects of policy measures
over the past 12 months
are beginning to show in
improving macro stability
indicators, adding that the
growth will pick up from FY16
onwards.
The report said that
variables like economic
reforms along with a pickup
in the pace of structural
reforms would be the key
factors for growth.
Shikha Sharma, CEO, Axis Bank

National Round -upNational Round -up
the pharmaceuticals Export
Promotion Council of India
(Pharmexcil) has been working
closely with the Indian embassies
across the globe to promote
pharma exports. This strategic
approach has helped the Council
generate widespread interest in
the international
community on
the important
role of Indian
manufacturers as
global suppliers of
quality generic drugs.
Pharmexcil has
been working with
the Indian embassies
to sensitise and
educate prospective
overseas investors
about the Indian
drug industry.
According to reports following
Pharmexcil’s efforts, Indian
embassies have been working
hard to spread goodwill about the
Indian drug industry by conducting
sensitising seminars and meetings
at concerned local bodies and
associations abroad.
Pharmexcil was keen to generate
greater interest in the Indian drug
industry in a buildup to iPHEX 2014
that was held in Mumbai from May
21–23, 2014. The hard work of the
industry body paid off generously
as more and more
overseas investors
showed keen
interest in doing
business in India.
The government
is also taking steps
to identify and pro-
vide help to those
overseas investors
and delegates who
had brought size-
able business to
India during their
last visit.
Pharmexcil along with India
Brand Equity Foundation (IBEF)
has been leading the global Brand
India Pharma campaign to improve
the global perception of the Indian
pharma industry.
Pharmexcil Promotes Indian
Pharma Ropes in embassies
Industry
update
tourist arriv-
als spiked during the elec-
tion period as more and
more tourists arrived in the
country to watch the Lok
Sabha elections in full swing
under an election tourism
programme launched by
the Election Commission
the country to understand
how the EC microman-
ages the election process.
Election tours included
visits to a campaign rally
and offices of political par-
ties. Representatives from
Nigeria, Namibia, Lesotho,
Malaysia, Mauritius, Nepal,
Uganda, Kenya, Bhutan,
Syria, Egypt, Tunisia, Saudi
Arabia, Morocco, etc., were
part of the campaign.
See India Vote
Election tourism trips
US$
Billion
Pharmaceutical
exports target for
FY 2014-15
of India. Under this initia-
tive—Election Visitors Pro-
gramme—by the Election
Commission of India and
the United Nations Develop-
ment Programme (UNDP),
around 50 officials from
election management bod-
ies of 20 countries toured
tourism Tracker
Investment Tracker
2004 and
2013 India attracted For-
eign Direct Investment (FDI)
to the tune of US$ 198 bil-
lion from European com-
panies. This was revealed
in a report brought out
by the Brussels based
Europe India Chamber of
Commerce (EICC) titled
European Companies in
India: Reigniting Economic
Growth.
The report also pointed
to the huge potential to
boost this investment
inflow. The report was
released at a function by
the head of the EU Delega-
tion to India, Joao Cravinho.
During the same period,
US firms invested US$ 138
billion, while Japan put in
US$ 50.7 billion, according
to the report.
“This gives EU enter-
prises the distinction of
being the largest inbound
investor into India. EU firms
have spent US$ 118 billion
on 2,566 Greenfield proj-
ects. EU companies also
acquired interests in 1,442
companies for US$ 80 bil-
lion,” said Sunil Prasad,
Secretary General, EICC.
The EICC Study was
supported by the EU fund-
ed European Business and
Technology Centre (EBTC).
India has huge potential
to attract FDI from Europe
European Cos largest investors
foreign
between
25

india
watch Area Population Male Female Population Density Urban Population
3,287,263 sq km 1.27 billion 655.8 million 614.4 million 382 per sq km 380.214 million
Key performance
indicators of the
Indian economy
with patterns,
trends and forecasts
India’s Economic Outlook Projection
Fiscal Year 2011-12 * 2012-13 * 2013-14** 2013-14 * 2014-15 **
GDP Growth 6.20% 5% 5.90% 4.80% 6.00%
CPI 8.87% 9.50% 10.40% 8.79% 8.00%
Source: RBI
* Actual
** Projected
Average real GDP growth for
the next five years (2013-14
to 2017-18) and the next
10 years (2013-14 to 2022-
23), is expected to be 6.5
per cent and 7.25 per cent,
respectively.
Mean Probability Pattern of Growth Forecast
Source:SurveyofProfessionalForecasters(Q3:13-14)
2013-14 2014-15
0.6
0.5
0.7
0.8
0.4
0.3
0.2
0.1
0.0
4.0 to 4.4 % 5.0 to 5.4 % 5.5 to 5.9 % 6.0 to 6.4% 6.5 to 6.9%4.5 to 4.9 %
Chart 1: Year-on-Year Growth in IIP
Source:ICRAAnalysis
Apr-10
Oct-11
Jul-12
Jul-10
Jan-12
Oct-12
Apr-11
Oct-10
Apr-12
Jan-13Apr-13
Jul-13Oct-13
Jan-14
Jul-11
Jan-11
16%
12%
8%
4%
0%
-4%
-8%
Chart 2: Year-on-Year Growth in Sectoral Indices
Source:ICRAAnalysis
16%
12%
8%
4%
0%
-4%
-8%
-12%
Mining Manufacturing Electricity
Feb-11
Dec-10
Oct-10
Aug-10
Jun-10
Apr-10
Apr-11Jun-11Aug-11Oct-11Dec-11Feb-12Apr-12Jun-12Aug-12Oct-12Dec-12Feb-13Apr-13Jun-13Aug-13Oct-13Dec-13Feb-14

I nd ia Watch
Source:RBI
Stock Market
Source:RBI
Currency Exchange Rate
Source:ICRAAnalysis(November2013) Key Macroeconomic Indicators
Cash Reserve
Ratio
Source: RBI
M
ar-13
Feb-13
Apr-13
Apr-14
M
ay-13Jun-13
Jul-13Aug-13Sep-13
Oct-13Nov-13Dec-13
Jan-14Feb-14
M
ar-14
Source: RBI
Repo Rate
Reverse Repo Rate
Repo Rate and
Reverse Repo Rate
Nov-12Dec-12Jan-13Feb-13M
ar-13
M
ar-14Apr-14
Apr-13M
ay-13Jun-13Jul-13Aug-13Sep-13Oct-13Nov-13Dec-13Jan-14Feb-14
8
7.8
7.6
7.4
7.2
7
6.8
6.6
6.4
6.2
Sensex %age Change SP CNX NIFTY %age Change
Jul-13 19,709.71 2% 5,909.24 2%
Aug-13 18,641.41 -5% 5,510.44 -7%
Sep-13 19,627.23 5% 5,797.48 5%
Oct-13 20,492.94 4% 6,083.87 5%
Nov-13 20,791.33 1% 6,128.64 1%
Dec-13 21,170.68 2% 6246.87 2%
Jan-14 20,513.85 -3% 6223.16 0%
Feb-14 20,521.34 0% 6,098.74 -2%
Mar-14 21,815.71 6% 6,507.98 7%
Apr-14 22,585.44 4% 6,760.85 4%
INR/USD INR/GBP INR/JPY INR/EUR
Jul-13 63.21 97.87 64.57 84.18
Aug-13 59.78 90.78 60.00 78.20
Sep-13 63.75 101.09 64.26 85.11
Oct-13 61.61 99.20 62.99 84.10
Nov-13 62.63 100.88 62.63 84.53
Dec-13 61.91 101.40 59.83 84.82
Jan-14 60.42 102.29 59.66 84.60
Feb-14 62.25 102.97 61.01 84.96
Mar-14 61.00 101.40 59.61 84.32
Apr-14 60.34 101.00 58.84 83.31
Chart 3: Contribution to IIP Growth
-5%
-4%
-3%
-2%
-1%
0%
1%
4.25
4 4 4 4 4 4 4 4 4 4 4 4 4 4
2.62.62.9
11.1 11.111
2%
3%
Capital -2.5%
Durables -1.3%
Non Durables
0.2%
Intermediate
0.5%
Manufacturing
-3.0%
Mining 0.1%
Electricity,0.9%
YoY Wholesale Price Index (Inflation)
Source:RBI
Manufactured Products
January, 2014
Fuel Power
December, 2013
Primary Articles
November, 2013
All Commodities
7.1
15.3
6.2
5.2
7.5
10.8
Basic 1.5%
Chart 4: FDI and FII Inflows (in US$ billion)
Source:RBI
FII
FDI
Apr-13
M
ay-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
M
ar-13
Feb-13
1.79
4.07
1.521.52
2.32
4.06
1.44
0.90
1.63
-1.85
-1.04 -0.90
4.13
2.06
1.22
2.49
1.63
1.31.10
2.60
2.18
0.12
2.01
1.65 1.40

Venu Madhav, Director, Café Coffee Day, discusses the
company’s business model and how it has managed to stay
relevant over the years in this exclusive interaction with India
Now Business and Economy.
“While marketing to Gen-Y
remember to always
remain relevant...”
Amalgamated Bean Coffee Trading
Company (ABCTL) has successfully
gone the distance from a purely
plantation-focussed business towards
becoming a vertically integrated coffee
conglomerate. What prompted this
massive shift and what are the key
learnings from the company’s
experience?
Venu Madhav (VM): V G Siddhartha,
who belongs to a family of coffee
plantation owners, was selling coffee

C a f é C o f f e e D ay i nte rvi ew
in the international market post the
deregulation of the Coffee Board of
India in the nineties. It was around that
time that he realised the potential that
lay ahead in building a coffee brand
for the Indian market. This is when
Coffee Day was born. The brand’s first
sub brand retail venture was Coffee
Day Fresh n’ Ground, the loose coffee
powder.
In the late 1990s, the company also
found some inspiring trends and
opportunities in the market:
1. Coffee drinking in India was limited
to the South Indian traditionalist, the
intellectual and the five star coffee
shop visitor.
2. These cafes were promoting cyber
culture and were offering internet
access.
3. In the neighbouring international
markets of South East Asia,
there existed a popular culture
of consumers visiting a café for
experiential drinking of coffee in
addition to a glass of beer.
These trends and need gaps inspired
us, and in 1996, we launched the first
cybercafé modelled on our international
learning, replacing beer with coffee.
This was arguably India’s first
commercial cybercafé. Of course, later,
with the mushrooming of cybercafés,
ABCTCL decided to concentrate on its
core strength—coffee.
We believed that a coffee retail venture
would work because we were the first
to fulfil a latent need gap in the market.
With the advent of cable television and
growing consumerism, the Indian
urban youth were looking for a window
of opportunity to connect them to
the way of ‘meeting and greeting’ of
the youth in other countries across
the world. They were seeking a world
class experience rooted in Indian
culture. We chose to fulfil this demand.
Substantiation of our acceptance is
through our present network strength of
1,522 cafes across 186 cities in India.
A key learning while marketing to
Gen-Y is to remember to always remain
relevant, innovative and exciting. We
have been able to cater to our target
customers by revolutionising the
hangout concept at regular intervals.
Can you throw some light on the
best practices followed by ABCTCL,
right from plantation practices to supply
chain management to value addition,
retailing and branding?
VM: ABCTCL’s biggest strength in
coffee retailing lies in the fact that it is
a coffee conglomerate that is involved
from the bean right up to the cup stage.
The retail points have absolute quality
measures and the company can offer the
benefits of pricing to its customers. The
coffee served is procured from 13,000
acres of the company’s own estates plus
another 7,000 acres of managed estates.
The group also sources coffee from
11,000 small growers, making its holder
the largest individual coffee plantation
owner in Asia. The estates are UtzKapeh
certified, which stands for sustainable
farming practices.
Seasonality in supply and demand,
market dynamics, demand for variety
in product and packaging, higher
expectations on product quality and
delivery, all have added extra dimensions
to the challenge.
Though CCD’s core competence lies
in the coffee growing/brewing/serving
areas, the demand for a variety of food
items and beverages has forced it to
diversify and increase the number of
pages in the menu to include various
exclusive offerings customised to
the needs of various geographic and
demographic segments of society. This
means an increased supplier base in
the CCD supply chain. The suppliers
include both domestic and foreign
players. The supplier base is built by
strictly adhering to the QCD metrics
(Quality-Cost-Delivery). CCD has
various Fresh Assembly Centres where
Chatting over coffee: Café Coffee Day stepped in to provide a much needed space for the urban youth to ‘hang out’
with friends and colleagues for some coffee and conversation.

I nte rvi ew C a f é C o f f e e D ay
food is assembled before being taken
out to individual cafes. ABCTCL has
been bestowed with ISO 22000:2005
certification by the DNV Business
Assurance Food Safety System for its
management system in cafés. The
company is the first large scale food and
beverage retailer to have received such
an honour with respect to so many key
business units.
How is ABCTCL leveraging its
presence in India, and what key
differentiators would you like to highlight
with respect to ‘Made in India’ coffee?
VM: ‘Made in India’ coffee is at par with
any world standards. We grow very high
quality Arabica beans and have various
single estate coffees that we take great
pride in. For instance the café brand
CCD retails single estate coffees such
as ‘Dark Forest’ and ‘Mysore Royal’.
These are premium coffees. Dark Forest
is a full bodied single origin coffee
which comes from the Kathlekhan
Estate. History is replete with folklore
at Kathlekhan (a word that means dark
forests in Kannada, the local language of
the region) Estates, the origin of which
is traced back to 1832. The coffee berries
are handpicked by a tribe that specialises
in the profession. Single origin coffees
have a uniformity of flavour and
richness, a parameters of quality.
ABCTCL is one of the few fully
integrated coffee conglomerates in
the world. The company not only
grows its own coffee but contributes
majorly to employability in the country
and trains and develops its human
resources. The company also produces
the furniture used in its retail spaces
alongside the coffee makers, etc.
How do you see the rise in the
coffee culture in India, and what is
your perspective on the future potential
of the Indian coffee sector in both Indian
and overseas markets?
VM: We have always believed that the
out of home coffee consumption in
India is fast growing and has
contributed immensely to the growth of
in-home consumption of coffee in the
non traditional markets in our country.
The country currently has around 1,800
cafés and there is scope for 5,000 or so
more outlets. So essentially, the
potential for growth in the
consumption of coffee is huge.
In advanced markets like Austria the
per capita consumption of coffee is at
10 kg and in the USA it is about 5-6 kg.
Currently in India this figure is at about
600g, which is to say that there is still
large scope for growth. We are also
working on increasing this knowledge
on coffee and building the coffee
culture through coffee festivals that
we conduct for consumers across Tier
I and Tier II cities in India. The café
culture is on the rise and this will also
lead to in-home consumption of coffee
and we believe coffee is fast becoming
the beverage of choice for young India.
Tell us about ABCTCL’s presence in
the fresh and ground coffee retail
space through Coffee Day Fresh
Ground. How has the venture progressed,
and how do you see the potential of the
Indian market in this arena?
VM: As the pioneer and leader of an
organised market for powdered filter
coffee, at present Fresh Ground
has 425 unique retail stores across
Karnataka, Tamil Nadu, Andhra
Pradesh, Pondicherry, Kerala and
Maharashtra. Around 95 per cent
of stores are self owned while the
others are franchises which are closely
serviced by Fresh Ground’s strong
supply chain network, ensuring that
the coffee powders are always fresh
(no more than 5 days on shop shelves)
and retain their original aroma. The
price of the Fresh Ground coffee
powders ranges from `220 to `380
(US$ 3.76 to 6.49) per kg.
Coffee powder consumption in
India has been growing at a rate 10–12
per cent in the last few years and will
increase to 20–30 percent in the next
five years. Strong growth opportunities
are forecast, and this is the right time for
the brand to make the most of it through
expansion.
How have the preferences of the
target audience changed over the
past 20 years, and how are you reflecting
them in your hangout zones?
VM: The CCD customer is the
millennial customer: this is a set of
customers who have had their formative
years during the most prosperous period
of Indian economy. The challenge in
reaching out to them is the fact that their
interests are ephemeral. This requires that
they move from a talk mode to a listen
and converse mode with the consumers.
This forced need to listen brings about a
new marketing discipline of living with
and co-creating with the consumers. The
brand CCD, has co-created its existing
look and feel from consumer feedback.
The logo itself is a dialogue box which
stands for conversations between the
brand and its consumers. That adds a
whole lot of responsibility.
“However,
that does
not make
us believe
that the marketer
should also be
millennial. As
long as she or he
has the mindset
required to
market with these
millennials. With
Facebook, Twitter
...these networks
allow you to listen
and co-create.”
—Venu Madhav, Director
Cafe Coffee Day

India is the only country that grows coffee under
a well defined two tier mixed shade canopy.
A SHADE BETTER

MNC WAtch Ya m a h a
COMPANY
DASHBOARD
Company
India Yamaha Motor
Pvt Ltd
Established
Forayed into India in
1985, in 2001 became
100% subsidiary and
in 2008 a joint investor
in IYM
Headquartered in
Surajpur, UP
Area of Focus
Two wheelers
Network
Two facilities
An independent sales
marketing entity
2,000+ employees
Full
Speed
AheadYES! Yamaha captures young
India’s heart. By sanjay ojha

Ya m a h a MNC WAtch
YFZ-R15 and Ray have been the previous
winners. Yamaha entered the scooter
category in 2012 with the Ray which was
aimed towards women. This was soon
followed by the Ray Z that targeted the
male audience.
Aggressive Expansion Plans
India Yamaha created a functionally
independent sales and marketing
entity, Yamaha Motor India Sales Pvt
Ltd (YMIS) located in Chennai, with
the aim to further strengthen sales and
marketing services in India. YMIS has
endeavoured to bring its relationship
with customers closer with its Yes!
Yamaha! campaign (Yamaha Extended
Service [Y.E.S.]) which emphasises on
providing the best 3S experience—
sales, service and spare parts. YMIS
is currently responsible for the sales
and promotion of YZF-R15 Version 2.0
(150cc), Fazer (153cc), FZ-S (153cc), FZ
(153cc), SZ-X, SZ-R SZ-RR (153cc),
SS125 (123cc), YBR 125 (123cc), YBR 110
(106cc), Crux (106cc), Ray (113cc), Ray
Z (113cc) and Alpha (113cc). The import
portfolio includes VMAX (1,679cc),
YZF-R1 (998cc) and FZ1 (998cc).
The ambitious company, in
August 2012, announced its third
manufacturing facility in Chennai and
proposed to invest `1,500 crore (US$
250.3 million) over the next five years,
to expand business locally and also
intensify export in overseas markets.
This investment was in addition to
males choose the company’s sports bikes.
The price range is also a catalyst among
customers,” said Deepak Garg, who runs
a Yamaha showroom in Patna.
Yamaha Ray Z was awarded the India
Design Mark (I Mark) award by the
Indian design council on May 7, 2014.
A prestigious award, the India design
mark is a standard that recognises good
design and is granted to an applicant
after a thorough and systemised process.
The India design mark was initiated by
the council in cooperation with Japan
Institute of Design Promotion (JDP).
This is Yamaha’s third consecutive win.
J
apanese two wheeler
maker, India Yamaha
Motor Pvt Ltd (IYM) is
riding high on its ever-
growing market in India.
The MNC, which entered India in
1985, is upbeat with record two wheeler
sales in the past few years. It has plans
to capture 10 per cent of the market
share by 2016, when the two wheeler
industry is expected to produce about
20 million units.
In order to expand its sales network
across India and take its product closer
to its customer base particularly in
the Tier II and III cities, which are
witnessing strong demand for two
wheelers, the company plans to expand
its dealer network from 400 to 2,000
by year 2018.
IYM produces two wheelers for both
domestic and foreign markets from
its two state-of-the-art manufacturing
facilities in Surajpur in Uttar Pradesh
and Faridabad in Haryana.
The Surajpur plant, which was
established in 1984 and upgraded in
2009, has the capacity to produce
one million motorcycles and scooters
annually. Established in 1965, the
Faridabad plant was upgraded in 2008
for manufacturing of machine parts.
Robust Growth Trend
India Yamaha recorded a growth
of 29 per cent in domestic sales
during March 2014 as compared to
the corresponding period last year.
In the export markets, the company
sold 15,187 units in March 2014 as
compared to 14,691 units sold in the
same month in the previous year,
achieving a growth of 3.4 per cent.
IYM witnessed a fruitful year in 2013
after recording a 34 per cent growth
rate despite a sluggish market. The
company strengthened its position by
clocking sales of 651,487 units in 2013,
compared to 486,810 units in 2012.
“Earlier, we could see very few people
turning towards Yamaha bikes at our
shop, but now the trend in different.
Young girls prefer Ray, while young
“The response that we have been
receiving for RAY and Ray Z are
indeed most positive...Both sold
approximately 150,000 units by end
2013, thanks to the stylish design
and ease of use. We understand the
needs of our customers....”
Roy Kurian
Vice President, Sales Marketing, Yamaha Motor India Sales Pvt Ltd
History in Making
1953 Conceptualised by Genichi
Kawakami, Yamaha’s first President
1954 First model, Yamaha YA-1,
was designed
January, 1955 Hamakita Fac-
tory of Nippon Gakki was built and
production began on the YA-1
July, 1955 Yamaha Motor Co
Ltd was founded. Staffed by 274
employees, the new motorcycle
maker built about 200 units per
month
1956 Second model, YCI, was
ready for production
1958 Yamaha ventured into the
international arena by entering the
US market

MNC WAtch Ya m a h a
measures.
Based on its fundamental belief
that corporate activities originate with
and for people, Yamaha Motor Group
strives to contribute to sustainable
development through business
activities and endeavours to abide by
international laws and regulations. In
accordance with its policy of making
the workplace disabled friendly,
Yamaha Motor has established the
Disabled Employment Promotion
Committee. Led by its Central Safety
and Health Committee, Yamaha Motor
is promoting the establishment of
safer working environments globally
by detecting potential dangers and
initiating measures to mitigate
accidents at workplaces. The company
works to reduce greenhouse gas
emissions from its manufacturing
facilities. In 2013, Yamaha Motor
reduced carbon dioxide emissions per
unit of sales by 14 per cent below the
2012 level.
(Source: Secondary research and
company website information)
brands, while youngsters’ heartthrob
actor Deepika Padukone endorses the
scooter range of the company.
Responsible Social Business
Yamaha India has started an all-
women assembly line for scooters at
the Surajpur plant. The company offers
classroom and on the job training to
200 women, who are undergoing a
three year apprenticeship programme
approved by the UP government. These
women will receive an ITI certification
approved by the UP government after
completing the course. Besides, the
company began a training programme
for female customers throughout India.
IYM has hired more women to work in
customer service and introduced female
customer care programmes with an aim
to improve its customer care service
for women customers. The Yamaha
Children Safety Programme (YCSP),
launched in January this year, is a first of
its kind social initiative by the company
to educate and influence both parents
and children about vital road safety
||||||||||||||||||||||||||||||||||||||||
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
||||||||||||||||||||||||||||||||||||||||
1985
2001
2008
2008
2009
2012 2012
2013
2013
2014
2014
Entered
the Indian
market
Yamaha India
became 100 per
cent subsidiary
of Yamaha Motor
Company Ltd
Mitsui Company Ltd
entered into agreement
with Yamaha to become
joint investor in India
Yamaha Motor Private
Limited (IYM)
Launched superbikes
R1, FZ1 and VMAX, and
also the first sports bike
YZF R15
Launched
its popular
FZ series to
target young
customers
MoU with
Tamil Nadu
government
for setting up
its third plant
in Chennai
Entered the scooter segment
with Yamaha Ray to target
young women
Established Yamaha
Motor India Sales Pvt Ltd
Established fifth global RD
centre in India at Surajpur
after Italy,Taiwan, China,
and Thailand
Launched its first
mascot for children’s
safety programme
Launched
automatic
scooter
Alpha to
target family
customers
the `750 crore (US$ 125.15 million)
being invested in the existing facilities
in Surajpur and Faridabad. The new
Chennai factory is expected to produce
about 400,000 vehicles, the number
set to reach 1.8 million vehicles by
2018.
Yamaha Motor Research and
Development India Pvt Ltd (YMRI) was
established in Surajpur in February
2013 to function as the motorcycle
RD headquarters for Yamaha
Motor Company. This initiative is
in accordance with the company’s
strategy to catalyse the global
competitiveness of its engineering,
manufacturing and marketing
functions in India.
Redefining Models
In March 2014, YMIS launched the
variants of its bestselling Yamaha R15
version 2.0 in vibrant colour schemes
to increase excitement amongst
customers and enhance sales growth.
The company launched its latest
automatic scooter, Alpha, in February
this year, aimed at targeting family
customers. Yamaha’s female scooter
Ray was modified to the new Ray Z
to target male users. Two new model
variations in the Yamaha SZ sports
model series were named the SZ-RR
and SZ-S. Yamaha’s popular FZ series
motorcycle was modelled into FZ-S
and Fazer in August 2013 to target
young customers.
Revving up Customers’ Choice
IYM wishes to establish itself as
the exclusive and trusted brand
of customers by “creating Kando”
(touching their hearts), through
continuously innovating business
processes. The theme of the Yamaha’s
booth at the recently held 12th
Auto Expo was “Revs your Heart”,
with a belief that customers’ hearts
will accelerated to experience the
company’s products.
IYM has chosen Bollywood actor
and popular youth icon John Abraham
as its ambassador for motorcycle
Milestones
in India

Ya m a h a MNC WAtch

cove r story E - c o m m e r c e M a r k e t

India
to Shop
logs
on
e - c o m m e r c e m a r k e t cove r story
From kitchen knives to cars, Indians from Kol-
hapur to Kolkata, Kinnaur to Kanyakumari are
logging on for the instant gratification of hassle
free online buying. As the e-commerce market
reinvents new paradigms to suit its customers’
varied tastes, it scripts an e-gateway to
unprecedented success.
By Sangita Thakur Varma

adhumati Devi in Madhubani district of Bihar has never seen a computer. Nor has she
ever heard of concepts like e-commerce or bought anything online. But the Madhu-
bani painting saris and stoles she makes are selling like hot cakes on a niche e-com-
merce portal that specialises in Indian ethnics. Sunil, her son, has shown her pictures
of her products on the website on his smartphone. He also sports a Calvin Klein (CK)
watch that he bought online and a pair of Reebok shoes. He got them at major bargain
prices, he claims proudly, at the Google Online Shopping Festival (GOSF).
Be it Barabanki in Uttar Pradesh, Amravati in Maharashtra, Asansol in West
Bengal, Kathgodam in Uttarakhand, Bellary in Tamil Nadu, Kameng in Arunachal
Pradesh or any corner of the country, the reach of e-commerce is as wide as tele-
com network services, the rapidly rising numbers of feature rich mobile phone
users in the country and the postal network of pin codes.
It’s boom time then for electronic commerce in India. According to various
reports, India’s e-commerce market will grow sevenfold to US$ 22 billion by 2020,
on the back of improving internet infrastructure which will aid ease of shopping
on the go for the approximately 213 million online consumers of India. According
to a September 2013 report by Internet and Mobile Association of India (IAMAI)
and KPMG, the e-commerce market, growing at an average annual rate of 34 per
cent since 2009, was expected to touch US$ 13 billion by end 2013. By 2017, reve-
nues of e-commerce companies could triple to US$ 8.13 billion, according to Crisil
Research. India’s e-commerce market (sans travel sites) is currently worth US$ 3.1
M-commerce: Booming Market
Source: Accel India
Mobile Traffic %
Mobile Revenue %
23%
27%
10%
33% 33%
9%
India China Japan
Mobile revenue share is lagging
Mobile traffic share in India and China
9%
4%
9.8%
NA
India ChinaRussiaBrazil
India vs rest of BRICS—mobile shopping Gross
Merchandise Volume (GMV) as % of overall GMV
2012
1x 8x 27x
2013 2016
Mobile shopping grew 800% in 2013, expected to
grow at a 150% CAGR upto 2016
Factors leading to major adoption of mobile as a channel:
l 70% of the growth in Indian internet users was mobile only
l Showrooming—a growing habit
Reasons why there is not a 1:1 conversion of traffic to mobile:
l Most e-retailers do not have mobile optimised sites
l Most transactions are for low ticket items
l Mobile marketing budgets are 10% of overall digital marketing
budgets, even though they have increased 100% Y-o-Y, and
even though overall ad spends have increased 20% Y-o-Y

E - c o m m e r c e m a r k e t cove r story
billion annually. According available
statistics of 2011, the online travel sales
division has captured the biggest slice
of the e-commerce market accounting
for 81.4 per cent. An eMarketer report
titled BRIC Travel Markets in Transition:
Trends Influence Overall Ecommerce says
India is expected to register a CAGR
of 30.6 per cent for online travel sales,
surpassing the rate forecast for South
Korea (19.8 per cent), Brazil (18.2),
China (14.1), Russia (9.8), Australia (7.4)
and the US (7.2) during 2011–16.
According to the IAMAI-KPMG
report, in 2013, India had 137 million
internet users and 25 million online
buyers. A subsequent report released in
December 2013 put the figure of inter-
net users in India at 213 million and
the size of the market at US$ 13 billion.
The e-commerce market in the US,
China, and Sri Lanka was estimated at
US$ 224 billion, US$ 220 billion, and
US$ 2 billion, respectively.
Frenetic Growth, Money
Pours In
But what is behind the frenetic pace
of growth? Why are investors lining
up to pump their money into these
e-commerce ventures that are yet to
show profit? Primarily, it is the demo-
graphic profile of the young internet
savvy Indians with higher disposable
incomes who will be the new custom-
ers of e-commerce portals in the next
five years that is behind the gold rush.
The number of internet users in India
could grow to 500 million by 2015,
according to consulting firm McKinsey
Co. As per the IAMAI-KPMG report,
an estimated 828 million Indians will
be below the age of 35 in 2015, with
high disposable incomes and a willing-
ness to shop online. More than half
of the total 1.2 billion population of
India falls in the below 25 years of age
bracket. Also, 65 per cent of India’s
population, representing the working
age group of 15 to 64 years, would aid
the further growth of e-commerce, driv-
“The ecosystem for Indian entre-
preneurs has changed drasti-
cally over the past few years.
Investors are looking for good
entrepreneurs and if you are in
the market with a good idea,
people are willing to invest
in your start-up. Today, the
internet user base in India is sub-
stantial. There is still a long way
to go before we match the scale
of Silicon Valley in the West, but
the good thing is that the first few
steps have already been taken in
that direction.”
Murugavel Janakiraman
Founder CEO
Matrimony.Com
en by their rising disposable income.
Notably, discretionary spending in
India is expected to jump to 70 per cent
by 2025 from 52 per cent in 2005. Also,
the growing inclination towards pur-
chasing online is reflected in the trend
for higher value online transactions.
Shoppers are ready to shop for values
exceeding US$ 500, which earlier hov-
ered in the range of US$ 40–100.
According to agency reports, in
2013, e-commerce business rose by
more than 80 per cent and the growth
momentum will most likely continue
for the next five to six years. Some
forecasts are putting the e-commerce
growth figure in the range of US$
50–70 billion by 2020, piggybacking a
fast improving ecosystem of enablers.
Murugavel Janakiraman, Founder
CEO, Matrimony.Com, one of the first
movers in the internet space knows
this. “The online matrimony market
in India is currently worth `400 crore
(US$ 67.24 million). The industry
has been through a transformational
shift in terms of consumer preference.
Around a decade ago, internet was not
considered a choice for finding a life
partner. It became one of the choices
around five years back. Today, it is the
primary choice for someone looking
for a life partner,” he says. Janakiraman
is confident that with users connected
to the 3G and 4G networks throughout
the day, mobiles will create better facili-
tation of services for companies like his.
Enabling Ecosystem
Smartphones would be the biggest driv-

cove r story E - c o m m e r c e m a r k e t
2013. The IAMAI-KPMG report puts
an internet penetration of 25 per cent
as the tipping point for e-commerce
growth.
Convergence Catalyst, a research
firm, found that smartphone sales in
India in 2013 almost doubled to reach
41–43 million units with monthly sales
crossing four million units for the
first time in the December quarter.
In September 2013, Avendus Capital
forecast that smartphone penetration
in India would touch 382 million by
2016 while research firm International
Data Corp (IDC) predicted that 155.6
million smartphones would be shipped
to India in 2016 alone.
Mobile phones are proving to be an
important factor in the e-commerce
ecosystem owing to their easy compat-
ibility with the internet. India has
more than 900 million mobile users,
of which around 300 million use data
services. This number is expected to
touch 1.2 billion by 2015. Also, more
than 100 million additional mobile
users are expected to use 3G and 4G
connectivity in the coming few years.
Of the total 900 million mobile users,
a meager 27 million are active on the
internet. Moreover, only 4 per cent of
the active mobile internet users buy
products through mobiles. However,
mobile shopping is on the upswing and
is expected to increase five fold to 20
per cent in the medium term.
Manmohan Agarwal, CEO, Yebhi.
com has been watching this trend
closely too: “One of the top current
trends of e-commerce is the steady shift
towards m-commerce. With a mobile
customer base of 951 million Indians,
portals are expanding and developing
their mobile presence too. Reports have
indicated that 87 million Indians prefer
accessing online shopping through
their smart phones. Yebhi.com is
constantly working towards enhancing
its mobile phone capabilities so that
more shoppers are encouraged to shop
online with us. Currently, we are enter-
taining 35 per cent traffic from mobile
phones, of which 2 per cent converts to
ers of growth of online shopping in the
coming years. India outstripped Japan
to become the world’s third largest
smartphone market in the first quarter
of 2013. A report by market research
firm Mediacells says that India, whose
consumer base is expected to reach 364
million in 2014, will surpass the US in
smartphone usage by year end. As per
the report, India and China alone will
purchase roughly half a billion smart-
phones in 2014, accounting for half of
the total smartphone purchases across
47 nations in the year. India will see
sales of 225 million smartphones, add
207 million new smartphone users and
the smartphone population will double
from 156 million to 364 million in 2014.
“There is a lot of potential in the
smartphone market as there are huge
numbers of consumers waiting to
migrate from feature phones to smart-
phones. If you look at the market, 81 per
cent of mobile consumers use feature
phones and that percentage is set to
go down in the years to come,” says
Manasi Yadav, Senior Market Analyst,
Mobile Phones and Tablets, IDC India.
Pranay Chulet, CEO and Founder,
Quikr, finds, “The advent of other
mobile devices such as tablets and
phablets, increased internet penetra-
tion has created numerous new oppor-
tunities for e-commerce players in
the Indian market. Many e-commerce
players are realising that a one size
fits all strategy will not work and we
now need to ‘think mobile’ rather than
‘adapting for mobile’ and ‘mobile only’
rather than ‘mobile first’.” Chulet’s
observations are based on an IAMAI
and IMRB International report that
internet usage in rural areas had
reached 68 million in October 2013
and was estimated to cross 72 million
by the end of 2013. This report also
observed that the 110 million monthly
user base that was accessing the
internet through mobiles at the time
would rise to 130 million by the end of
“The advent of other mobile
devices such as tablets and
phablets, and increased inter-
net penetration has created
numerous new opportunities
for e-commerce players in the
Indian market. Many e-com-
merce players are realising that
a one size fits all strategy will not
work and we now need to ‘think
mobile’ rather than ‘adapting for
mobile’ and ‘mobile only’ rather
than ‘mobile first’.”
Pranay Chulet
CEO and Founder
Quikr

sales.”
Seeing the opportunities for e-com-
merce, investors are willing to bet big
on startups in the space. Flipkart has
raised nearly US$ 550 million since
2009 from venture capitalists like Tiger
Global, Accel Partners, Iconiq Capital
and Naspers Group. In 2013-14, Flipkart
raised US$ 360 million from existing
investors Tiger Global Management Llc,
Accel Partners and Iconiq Capital, and
MIH (a part of South African media
company Naspers Group); this is the
largest investment in online retail in
India thus far. Flipkart though has out-
stripped any competition in the space
having crossed the magical one billion
dollar gross merchandising value.
Players like Jankiraman are also find-
ing the going good. “The ecosystem
for Indian entrepreneurs has changed
drastically over the past few years.
Investors are looking for good entrepre-
neurs and if you are in the market with
a good idea, people are willing to invest
in your startup. There is still a long
way to go before we match the scale of
Silicon Valley in the West, but the good
thing is that the first few steps have
already been taken in that direction,”
he says.
According to media reports, in the
first quarter of calendar year 2014, 10
transactions worth US$ 288 million
took place in the e-commerce space.
Online retailer Jabong.com raised
approximately US$ 100 million from
CDC Group PLC, a UK government-
backed private equity fund-of-funds
that invests in some emerging markets
and Myntra.com raised US$ 50 million.
Meanwhile, foreign players who had
been eyeing a slice of the e-commerce
pie have joined the party. Amazon.com
Inc. launched its India website in June
2013 and Walmart and eBay are also in
the reckoning for a piece of the action.
Much is anticipated in the online
marketing space with an estimated 16
per cent of disposable income of young
Indians being spent online.
The e-commerce horizon has wid-
ened owing to acceptance of online
shopping as a safe shopping medium.
Of the total 200 million credit and
debit card holders, just about 10 mil-
lion people transact online, indicating
a huge untapped market. A First Data
Corporation and ICICI Merchant
Services report showed that there are
around 150 million users who are will-
ing to shop online.
Ankur Warikoo, CEO, Groupon India,
says, “Indian consumers who were
earlier apprehensive about shopping
online are now browsing more often
Women Influenced GMV
1. Working women segment grew 43%
in 2013 and constitutes nearly 10% of
active internet users in India according to
i-Cube IAMAI
2. Catagories like baby care, home decor,
jewellery, etc., have traditionally been
influenced by women decision makers.
As more choices become available more
women are shopping online.
15% of
market
US$ 122
mn / 1x
US$ 511
mn / 4x
2012 2013 2016P
US$ 3
bn/24x
26% of
market
35% of
market
Source: Accel India
Male Female
Women spend 40% more time on
fashion sites
Male Female
Women spend 60% more time on
jewellery sites than men
Luxury/Jewellery
1.3x
1.1x
1.0x
Apparel Home Furnishings
Women spend upto 30% more time on
luxury sites than on home furnishing

to make high value purchases and
avail experiential offers.” He cites a
ComScore report of December 2013 to
prove his point.“The daily deal websites
comprise India’s fastest growing web
vertical. The coupon business is 13.5 per
cent of the total e-commerce audience
in India, growing at the rate of 62.9 per
cent with 7.6 million unique users a
month,” he says, quoting the report.
Groupon entered the India market
in 2011 and it is today the fastest grow-
ing among its 48 markets. “We have
grown tremendously to reach the No.1
rank in the daily deals category (as per
ComScore data). We have seen a lot of
traction from customers and our repeat
barrier,” explains Chulet. He says there
are a number of players in the market
who have their own unique ways of
reaching out to customers.
Such innovative approach helps
companies tap the equal opportuni-
ties offered by rural India in the
e-commerce space. The unavailability
of attractive offline channels in under-
developed cities has encouraged the
brand aware population to shop online.
Around 3,311 Indian cities were engaged
in online shopping between July 2010
and June 2011, of which over 1,267 were
non metro cities. This reflects how
e-commerce has helped in overcoming
the discrimination factor across cities,
innovations will continue to focus on
better usability of the e-commerce
platform as well as ways and means
to get the products to the customers
faster. These innovations will also serve
the frugal customers, meaning the
huge masses that don’t have access to
smartphones or computers. Several
companies are already finding ways
to reach these customers. Innova-
tions will continue to focus on social
platforms and ways to smartly engage
them to generate more e-commerce
transactions.”
With hundreds of players in the
online space, there is a need for
e-tailers to constantly innovate in order
Source: IAMAI, Aranca Research
Exhibit 1
Growth of e-commerce market in India (US$ bn)
15.00
10.00
5.00
0.00
2007 2008
CAGR 54.6%
2009 2010 2011
Source: Aranca Research
Exhibit 2
Types
Segment information
B2B: Transactions
between two or more
companies
B2C: Transactions
between companies and
customers
C2C: Transactions
between two or more
private individuals or
consumers
C2B: Transactions
between companies and
customers
purchase rate is 48 per cent.”
Innovation is the Key
Quikr India Pvt Ltd, that raised
US$ 90 million from Investment AB
Kinnevik of Sweden, will be utilis-
ing the funds for marketing, talent
acquisition and improving customer
experience. The online player has been
quick to adapt its offerings to Indian
expectations in what Chulet calls “local
innovation.” It has a missed call service
where prospective users of the online
classifieds platform can give the contact
centre a missed call. The company
representatives call them back, taking
down the details and posting the ad for
the user. “This approach combats both
computer illiteracy and the language
facilitating access for consumers from
smaller towns to the same branded and
quality products which earlier were a
distant dream. Companies are working
towards providing more online content
in regional languages to tap the niche
consumer base.
Neetu Bhatia, Co-founder and CEO,
KyaZoonga, not only points to the
need for innovation in the e-commerce
space but like Chulet, she too finds
the Indian e-commerce space a hub of
innovation. “India has already seen the
advent of innovative features such as
cash on delivery and other innovations
in the e-commerce business model.
Technologically, given India’s large
engineering and IT landscape, there is
a lot of potential for innovation. Most
to capture a larger pie of the growing
e-commerce market. Players like
Flipkart have frequently been adding
to their product portfolio to expand the
net of their customers. Snapdeal began
operations as an online group discount-
ing site in 2010 and later converted
into a marketplace with thousands of
products to broaden its consumer base.
Yebhi reinvented itself to tap the
enlarging online marketplace. Agarwal,
talking about the portal’s model says,
“We started out as Big Shoe Bazaar
in 2009, and in 2010, with the core
management deciding to venture into
lifestyle horizontal, we expanded into
other categories like apparels, acces-
sories, home and electronics, under
the name Yebhi.com.” Currently, Yebhi.

com offers shoppers a choice of more
than 500 brands and runs on 85 per
cent assisted marketplace model and 15
per cent pure play marketplace model.
With a 1,00,000 lakh sq ft warehouse
called Fulfillment Centre, Agarwal says,
“It is our distribition network which
ensures systematic inventory, quality
check, storage and dispatch. We have
catalogues for cross border and we are
in international space. We get orders
from UK/US, Europe and others.”
Companies have introduced return
policies ranging from 7–30 days, free
home delivery and the cash on delivery
(COD) model. The last innovation has
led to a lot of momentum in internet
sales and changed people’s perception
of online shopping as shoppers can
now purchase without disclosing their
credit/debit card details. It is believed
that more than 50 per cent of all online
transactions in India are based on the
COD payment methodology. As Indian
consumers are showing increased
interests in the COD mode of payment,
companies are investing to resolve
issues such as refusal to pay cash, ris-
ing inventories and managing returns
in order to provide this facility without
hassles. Yebhi introduced innovations
like One Click Return, wallet and
videos to increase traffic on its portal.
Agarwal says, “Internet buying is a face-
less transaction but customers need
someone to trust. Here lies great busi-
ness opportunity for all e-commerce
firms to realise their potential by ensur-
ing customers’ needs and preferences
are met simply and efficiently.”
A Business Imperative
Kunal Bahl, Co-founder and CEO,
Snapdeal, calls e-commerce “a curi-
ous experiment that has grown to
a full-fledged business reality and
opportunity” in the last five years. His
company is a testimony to this growth
story. Among the largest online mar-
ketplaces in Indian online space, it is
raising US$ 133.7 million from existing
investors, including eBay Inc.
In 2013, the e-commerce sector
saw 57 deals worth US$ 602 million.
Investments in e-commerce firms
rose 258.31 per cent to US$ 805.36
million in 2013-14 from US$224.85
million in 2012. The sector enjoyed
inflow of around US$ 800 million in
2011, up from US$ 110 million in 2010.
Investments made in e-commerce
businesses by PE firms alone more
than quadrupled to US$ 467 million
in 2011 compared to US$ 99 million in
2010. The number of deals increased
to 78 compared to just 22 in 2010. The
robust deal activity continued in 2012,
with US$ 242 million invested during
the January–April period. The trend
over the period reflects that the average
deal size has more than doubled due
to increasing traction in e-commerce
activities, which requires larger invest-
ments for growth.
The FY14 has opened on a grand
note for the e-commerce sector with
the mother of all deals being signed
between two giants in the space. In
the largest consolidation exercise in
e-commerce, Flipkart’s Sachin Bansal
and Binny Bansal bought out Mukesh
Bansal’s Myntra. The combined entity
now pegged at US$ 2 billion is said
to be an attempt to counter growing
competition from the US online major
Amazon.
The reason for the bulking e-com-
merce bandwagon is not only the ease
of doing business but also a business
imperative, according to Bahl. “The
marketplace model is indeed a more
profitable and scalable form of com-
merce for digital players in India. It
offers significantly higher competitive
“India has already seen the
advent of innovative features
such as cash on delivery and
other innovations in the e-com-
merce business model. Tech-
nologically, given India’s large
engineering and IT landscape,
there is a lot of potential for
innovation. Most innovations
will continue to focus on bet-
ter usability of the e-commerce
platform as well as ways and
means to get the products to the
customers faster...will also serve
the frugal customers, meaning
the huge masses that don’t have
access to smartphones.”
Neetu Bhatia
Co-founder and CEO
KyaZoonga

advantages to players in the digital
commerce space as compared to the
conventional inventory based e-tailing
model. The model being inventory
light allows the players to not only
expand the range of their product offer-
ings beyond a fixed set of brands/mer-
chants but also significantly cuts down
customer acquisition cost,” he says.
Explaining why e-commerce is a
necessity in India, Bahl argues, “Only 5
per cent of the US$ 600 billion Indian
retail industry is organised (Source:
The Indian Kaleidoscope: Emerging trends
in Retail, PwC). This unorganised and
fragmented industry faces unique
issues of reach and marketing nation-
ally.”
India is home to 50 million small
and medium business (SMB) units
that account for more than one third
of the country’s GDP. Only 10 million
of them are technology ready (Source:
Zinnov). In order to sustain their busi-
nesses in the increasingly competitive
world, it is now critical that these SMBs
reach out to a wider audience. They
face the challenges of logistics and
retail infrastructure, limited computer
expertise (only about four million
SMBs in the country use PCs in
India), inadequate working capital, low
marketing expertise, and geographic
bottlenecks in doing so.
Bahl says digital commerce or the
online bazaar provides a way out for
these SMBs. “By providing low cost yet
effective solutions, online marketplaces
in India can help out a multitude of
Indian retailers who don’t have the
resources or the know-how to market
their products and services.”
Success in the marketplace model
depends on how effective the platform
is in: a) reaching out to the target audi-
ence (building demand); and b) bring-
ing the best of sellers and their products
onto the platform (creating supply).
Chulet too agrees with Bahl. “Apart
from the obvious B2C element of
e-commerce, what is often overlooked
is the B2B aspect of e-commerce. For
fledgling entrepreneurs and small
businesses, online classifieds sites such
as Quikr act as a nursery of Indian
e-commerce. Setting up a brick and
mortar business with efficient delivery
models to attract a dedicated customer
base can mean a lot of capital infusion
for MSMEs. Various online platforms
are providing these entrepreneurs with
a channel with high margins and zero
upfront investments as their market-
ing outlay reduces significantly and
in some cases, they have to pay only
upon a successful transaction.” With so
many new businesses entering the fray,
there is much opportunity for investors.
E-commerce will be attracting the bulk
of private equity and venture capital
investments for the next few years as
more sectors join the online bandwagon
even as there will be consolidation by
companies to gain depth.
Companies like Evermorestores.com,
a soon-to-be-launched e-commerce por-
tal, will be looking for investors to back
their unique business ideas. Jasminder
Singh Sikka, Proprietor, Evermorestores.
com, is not the usual young tech savvy
e-commerce entrepreneur. Sikka says,
“E-commerce business can be started
with as small an amount as `25,000
(US$ 420.24). There are e-commerce
development agencies. These are mall-
type online agencies. You don’t even
need a portal and you can still be a part
of it. They will promote your products
and that can be cheaper. This is a new
concept in India. However, if you have
a complete portal designed for your
website, then it is expensive.”
Sikka, who entered the corporate
gifting business in 1994, always wanted
to be online, “but didn’t know what
it was”. His journey into e-commerce
started with a book that his friend
ordered for him. “This book was on
a 24-25-year-old guy who was into
online trade and had made a name for
himself.”
Sikka has infused `50–60 lakh (US$
84,047.74–100,857.29) in his startup
“Indian consumers who were
earlier apprehensive about shop-
ping online are now browsing
more often to make high value
purchases and avail experiential
offers. The daily deal websites
comprise India’s fastest grow-
ing web vertical. The coupon
business is 13.5 per cent of the
total e-commerce audience in
India, growing at the rate of 62.9
per cent with 7.6 million unique
users a month.”
Ankur Warikoo
CEO, Groupon India

E - c o m m e r c e M a r k e t cove r story
and knows that to succeed in the online
marketplace “One has to be different.
It’s one thing for sure. There has to be
something that excites the person.”
Currently, the retail division, which
includes online sales of physical and
digital goods, enjoys only a nominal share.
Notably, in this division, e-tailing is the
fastest growing segment capturing 16 per
cent of the market as per IMRB Interna-
tional’s statistics of 2012. According to
a Crisil report, online retail companies
earned revenues of around US$2.24 bil-
lion in the financial year ended on March
31, 2013. This may be just 0.5 per cent
of the total revenues of the fixed format
retail companies, but what is important to
note here is the fact that online retail sales
have been growing faster. As per the Crisil
report, revenue of e-commerce firms
grew by 56 per cent annually between
fiscal year 2008–13.
The Tide is Turning
With such buoyancy visible in the
sector, Prashant Tandon, MD Co-
founder, Healthkart, is bang on target
when he says they have reasons to
be optimistic about the e-commerce
growth story. “The fundamental India
story is on track. The Indian consumer
is demanding quality and is willing to
pay for value. The consumer is now
more aware, more connected and
uses technology to access information,
products and services that enhance life.
Thanks to the growth in our industry
(e-commerce), a person in a village
in India connected to the internet has
access to the highest quality products
delivered at his or her doorstep. In fact,
today at HealthKart, we see one-third of
our transactions come from 500 small
towns and villages that constitute the
Tier IV towns and rural parts of India.”
Agarwal finds the Indian online
consumers “aspirational as the demo-
graphic setup creates lack of acces-
sibility of the products of their choice.”
Online space provides them a platform
with reach to all products at their own
convenience, he says.
Bhatia finds a large urban bias in
the current e-commerce market but
foresees it spanning a wider platform
in the near future. “The market cur-
rently has a significant urban bias but
with improved connectivity and higher
smartphone penetration, the immense
potential of Tier II and Tier III cities is
being realised. Features such as COD
are helping a lot of nervous consum-
ers get their feet wet and comfortable
with transacting online. This growth
is expected to see a lot of new com-
panies jumping onto the bandwagon
to capture a share of the pie. While
we believe the market has enough
space for healthy competition, in the
medium term we expect the industry
to see consolidation. Based on our
very own experience where we have
Source: World Bank, IAMAI, Aranca Research
Exhibit 5
Users by modes to access Internet (%): Internet usage through mobile phones to grow
36%
0% 0% 0% 0%
120%
100%
80%
60%
40%
20%
0%
2007 2008 2009 2010
Work Home Cyber cafe Mobile
2011 2012 2013 2014 2015
36% 37% 34% 9%
43%
58% 67%
73%
30% 26% 23%
37% 32%
24%
19% 16%
14%
27%
19%
13%
9%
7%
34% 38% 40%
29% 32%
14% 10% 8% 6%
Online Travel
E-tailing
Financial Services
Classifieds
Other Online Services
Exhibit 4
Components of e-commerce
market—2012
Source: IMRB International
16%
6%
5% 2%
71%
Exhibit 3
Growth in Internet users versus e-commerce market
150%
100%
50%
0%
2008 2009 2010 2011
Internet users growth E-commerce market growth

Exhibit 6
Private equity investments in e-commerce
2006
0
100
200
300
400
500
0
20
40
60
80
100
25 27
39
28
22
78
30
2007 2008 2009 2010 2011 2012 (till
April)
Deal value (in US$ million) Average deal size Number of deals
broken all records in ticket sales online
in Tier II and III cities (over 90 per
cent transacted online in cities such as
Indore, Raipur, and year on year mas-
sive increases in online transactions
in places such as Mohali, Pune, Vizag,
etc.), we see massive potential,” he says.
Agarwal too agrees. “With the internet
population poised to reach 500 million
there is huge headroom for growth of
e-commerce in India. Another growing
trend is the increasing traction received
from Tier II and III markets where lies
a large base of untapped customers
that has the access to money but not
too many options.” Yebhi is witnessing
almost 50 per cent of traffic from non-
metro locations. “Our strongest hubs
are Pune, Chandigarh, Ahmedabad,
Jaipur and Indore,” he adds.
Tandon says, “This is when the inter-
net penetration and awareness is pretty
low—driven purely by a need across
this untapped demographic. Just imag-
ine the economic boom that is coming
once these places get more connected—
suddenly 70 per cent of the Indian
population would be brought into the
mainstream! And we see that happen
every day—it is no longer a story 10
years away—I expect the landscape to
fundamentally and disruptively change
in just a couple of years, largely driven
improvement in productivity and
efficiency, he says. “From distributors,
manufacturers, warehousing compa-
nies, logistic providers to the regulator
and the government agencies, we see
a greater push towards streamlining
systems and processes, largely through
use of latest technology tools. Soon all
these are going to not just add up, but
benefits will multiply across the ecosys-
tem,” Tandon is confident.
With a solid demographic story, a
fast evolving backend infrastructure
and the inevitability of mobile internet
connecting the hitherto inaccessible
masses, one can understand Tandon’s
excitement at the prospect of participat-
ing in probably the “biggest economic
story the world would see”. Indian
retail consumers’ “can’t touch, won’t
buy” mentality is finally changing.
(Source: Interviews conducted over a period
of time secondary research)
by internet through smartphone.”
Across the value chain, there will be
enhanced penetration of technology
and thereby a clear and sustained
“The marketplace model is indeed
a more profitable and scalable
form of commerce for digital play-
ers in India. It offers significantly
higher competitive advantages
to players in the digital com-
merce space as compared to
the conventional inventory based
e-tailing model. The model being
inventory light allows the players
to not only expand the range of
their product offerings... beyond
a fixed set of brands/merchants
but also significantly cuts down
customer acquisition cost.”
Kunal Bahl
Co-founder and CEO
Snapdeal

x x x x x x g i n d i a cove r story

E me rgi ng E ntre pre ne urs P o r t e a M e d i c a l

In their fifth serial venture, the Bengaluru-
based entrepreneur couple K Ganesh
and Meena Ganesh displays their
Midas touch yet again. In less than a
year of entering a rather new avenue of
business—home healthcare—they have
once again created a template for startup
success..By Payam Sudhakaran
I
t’s an inspiring story of entre-
preneurial excellence. When
two young and extraordinary
minds come together in the
extremely challenging world
of multi-crore businesses, they set
examples, draft numerous stories of
success and become role models for
many aspiring businessmen.
And that is exactly the story of Portea
Medical, a firm that aims to provide
technology led home healthcare ser-
vices to the Indian consumer. Interest-
award in 2012.
Founder and CEO of Portea Medical,
Meena Ganesh, till February 2013, was
the promoter and board member of
TutorVista and CEO and MD of Pear-
son Education Services, which includes
innovative and successful brands like
TutorVista, leading online tutoring
company, and Edurite, provider of
technology based solutions and digital
content.
The Ganeshes are actively involved
in incubating startups and are strategic
investors/promoters of India based
consumer internet and e-commerce
companies Bluestone.com (online
jewellery), Bigbasket.com (e-grocery),
MustseeIndia.com (travel packages
and content), bookadda.com (academic
focused online books), delyver.com
(hyper local delivery), and onlineprasad.
com (online religion). Portea Medical
is India’s home healthcare pioneer.
They established Portea along with Dr
Manjusha Anumolu, MD (US Board
Certified) in Internal Medicine with 20
years of practice in US and India.
Health
Wealth
Turning
to
ingly, Forbes rated Portea among the top
five startups to watch out for in 2014.
With `48 crore (US$ 8 million) from
Accel Partners and Ventureast, Portea is
currently operational in 12 cities across
India. Its Chairman, K Ganesh, is a
serial entrepreneur with four success-
ful greenfield ventures and exits. His
last venture, TutorVista was acquired
by US and UK listed education leader
Pearson for US$ 213 million. He was
among the top five nominees for the
Economic Times Entrepreneur of the Year
P o r t e a M e d i c a l E me rgi ng E ntre pre ne urs

E me rgi ng E ntre pre ne urs P o r t e a M e d i c a l
Portea, Ganesh’s fifth venture,
operates in Delhi/NCR, Bengaluru,
Chennai, Mumbai, Hyderabad, Pune,
Kolkata, Jaipur, Lucknow, Chandigarh,
Coimbatore and Ahmedabad. The
company offers home visits by doctors,
nurses, physiotherapists, nutritionists,
counsellors, and trained attendants
and focuses on geriatric, chronic and
post operative care patients using latest
technology and tools to make health-
care delivery convenient and affordable.
“Our involvement with Portea Medical
resulted from a deeply personal experi-
ence. A close family member was diag-
nosed with cancer and I saw firsthand,
the difficulties in taking care of a termi-
nally ill person. My wife, Meena, and I,
realised the many challenges involved
and the dearth of options for quality
medical care at home in India. This was
also the time when we had just exited
our previous venture TutorVista, and
were exploring various opportunities.
We found that the lack of affordable and
quality home healthcare in India was
a big pain point and provided a large
‘whitespace’ opportunity that we felt we
could address,” says Ganesh about the
inspiration behind Portea.
“Portea Medical believes in bringing
to customers’ homes affordable medi-
cal services of the highest quality. Our
vision is to ensure that these services
are provided with great compassion
and empathy so that in your moment
of need, you know that you are
being taken care of by the very best
professionals, who use their skill
and their heart, to assist you,”
he explains.
When asked if this was
a new avenue in medical
care, Ganesh says, “Home
healthcare has been in
existence in the US for
more than a century.
In Europe, countries
like the UK have an
established model of
in-home healthcare.
In that sense, the busi-
ness is not completely
new; however, it has
never been attempted
before in India at the
scale at which we are
operating and expand-
ing to.” A postgraduate
from the Indian Institute
of Management, Calcutta,
Ganesh also has a degree in mechanical
engineering from Delhi University. It
was apparent to the duo that theirs was
not an isolated case. “We saw the need
for affordable, quality home healthcare
was universal. There was a genuine
dearth of options for quality medical
care at home in India. We were confi-
dent of building a category leader in the
sector,” Ganesh says.
Meena adds, “Our thinking is that
India is still a great country to invest in.
The domestic market is huge and com-
pletely untapped and the potential is now
even greater than it ever was! The excel-
lent startup story with great outcomes
like JustDial, TutorVista, Redbus shows
people can start a greenfield, scale, cre-
ate value and exit and more importantly
create lasting institutions that world’s top
companies will love and want.”
According to them, the current
healthcare options in India do not offer
sufficient convenient and cost effective
options. Healthcare delivery is also
constrained in many ways by distance to
healthcare facilities and the lack of time.
Travelling all the way to hospital and
waiting in a queue for a procedure or
consultation that often takes a few min-
utes seems illogical and is inconvenient,
especially for the elderly and infirm.
Today, home healthcare is a US$ 3 bil-
lion/year segment in India and is set to
grow rapidly. The opportunity is large
and attractive and being driven by:
a) the large Indian population and
a growing population of elderly (by
2025, one in every five Indians will be a
senior citizen);
b) rise in chronic ailments (which
account for 53 per cent of the deaths in
India) that need to be treated;
c) longevity of the population—dis-
ease management is required over
longer periods of time due to longer
lifespans, and earlier disease detection;
d) lack of an organised, high quality
national player in the space.
The couple also point to the existing
challenges in the home healthcare
sector. For instance, it’s a fragmented
space with several players offering vari-
“Our vision is to ensure
that these services
are provided with
great compassion and
empathy so that in
your moment of need,
you know that you are
being taken care of...”
K Ganesh
Chairman, Portea Medical

P o r t e a M e d i c a l E me rgi ng E ntre pre ne urs
“Our thinking is that India is still a great
country to invest in. The domestic market
is huge and completely untapped and the
potential is now even greater than it was!”
Meena Ganesh
Founder CEO, Portea Medical
ous slivers of services; it needs large
capital and is complex to execute and
rigorous systems and processes need to
be in place to be able to deliver consis-
tently high quality.
Though refusing to divulge the com-
pany’s turnover, Ganesh says, “We do
not make company financials public
but just to give you an idea of our oper-
ations: Portea handles 9,000–10,000
visits a month across India. We current-
ly employ 600+ staff and are recruiting
rapidly to support our growth.”
Portea has a robust set of operational
processes to ensure the best possible
patient experience. With field staff
strength running into hundreds, sched-
ules need to be meticulously coordinat-
ed and supervised; the staff needs to be
provided logistics and technology sup-
port and care plans need to be designed.
Further, inputs from the specialists
treating the patients must be factored
into the treatment plan. “The bottom
line in this business is people—ade-
quately supported by robust systems,
processes and technology to capture,
consolidate and present information, so
that appropriate action can be taken on
an ongoing basis,” adds Meena. Portea
focusses on general primary healthcare,
post hospitalisation care, and chronic
disease management and allied servic-
es. It offers care plans addressing vari-
ous aspects in all areas including doctor
visits, nurse visits, nursing attendants
(12/24 hours a day), and patient activi-
ties of daily living (ADL)–grooming,
brushing, bedcare, etc.
Its annual elder care plan (managed
care) includes a general health check at
the start, a doctor visit every month, a
nurse visit every fortnight to measure
vitals, lipid profile, ECG, sugar
and other vitals checked every
three months, and a nursing
attendant accompanying the
patient on hospital visits as and
when needed. Physiotherapy is
another major thrust area for
Portea services. There are care
plans for diabetes and hyperten-
sion patients as well.
Portea also offers medical equip-
ment on rent such as oxygen con-
centrators, pulse oximeters, bi-level/
continuous positive airway pressure
devices, suction machines, multi-
parameter monitors, wheelchairs, walk-
ers, hospital beds and air mattresses. In
addition, home delivery of medicines
and collection of samples for lab tests
are arranged.
The funding from venture capital
firms, Accel Partners and Ventureast,
the largest ever Series A VC investment
in a home healthcare company in India,
in late 2013, has the company hoping
for more fund infusion for their plans.
“We are looking forward to raise anoth-
er US$ 30–40 million in this fiscal to
fund further expansion,” says Ganesh.
“Portea is expanding aggressively.
From one city eight months ago, we
are now present in 12 cities with more
cities being added to our network. The
intention is to cover the top 50 cities in
India which have a population of over 1
million. We are recruiting aggressively.
Tie-ups with leading hospital chains are
on in order to extend the continuum of
care for their patients at home,” Meena
explains the strategy.
The edge to Portea’s services is provid-
ed by its technology interface. “We have
developed proprietary technology to
manage the entire
delivery remotely
and scalably. Portea staff
carry handheld devices when they visit
patients' homes. The Portea app helps
clinicians access the patient's medical
history, check instructions from the
patient's specialist and provide real-
time update of data from the patient.
We will also implement a system where
data like blood pressure, temperature
and sugar levels are automatically
captured. The idea is to ensure that
patients need not go to hospitals but the
entire gamut of healthcare is brought to
their doorstep—doctors, nurses, phys-
iotherapy, diagnostics and medicines,”
Ganesh says.“But, these are really on
the business side of things—more
important for us is to continue to make
a positive difference in the lives of the
patients and families that we serve,” the
dynamic entrepreneurs sign off.

Sectoral
update
Policy Success: Insurance
taps new opportunities.
Pg 38
Raring to Go: Business
aviation spreads its wings
across Indian skies. Pg 45
Thirsting for Success:
The water sector opens up
investment avenues. Pg 41
Features Inside
The Right Growth Input
The industry looks at growing domestically on the back of
strong export. by sangita thakur varma
Agrochemicals
Building Awareness: Indian
companies have unleashed
a marketing bleitzkreig to
train farmers in the right
use of agrochemicals.

A g r o c h e m i c a l s se c tor al update
T
he Indian agrochemicals
story is one of global suc-
cess underpinning a ris-
ing domestic demand. In
2012, the agrichemicals or
the crop protection market was valued
at US$ 3.8 billion. Exports constituted
about 50 per cent of the crop protection
market with the forecasts indicating
further growth at approximately 12 per
cent per annum to reach US$ 6.8 bil-
lion by FY17.
The spurt in the agrochemicals sec-
tor’s growth though is largely expected
to come from export demand which
is estimated to grow at 15–16 per cent
per annum. Pesticide exports have
been witnessing healthy traction over
the past few years. India continues to
maintain its position as the net export-
er of pesticides in the world. Some
of the major agrochemicals exported
from India over the years include
isoproturon, endosulphan, alumini-
umphosphide, mancozeb, cyperme-
thrin, thiomethaxam, and imidacloprid.
Insecticides and herbicides are the two
largest contributors to pesticide exports
from India.
Driven by rising domestic consump-
tion, domestic demand is also expected
to rise at 8–9 per cent per annum.
According to Ankur Gupta, Head of
Marketing, Ken Research, “India is a
leading producer of pesticides in Asia
with over 400 million acres under
cultivation and over 60 per cent of the
country’s economy dependent on the
agricultural sector. In terms of the sup-
ply of pesticides, India ranks fourth
globally after the US, Japan and China,
thereby indicating the significance of
agrochemical industries in India.”
Mahendra Kumar Dhanuka, Manag-
ing Director, Dhanuka Agritech Limited,
finds the going bright for the sector.
“There is huge growth opportunity in the
sector, as the consumption of crop pro-
tection chemicals in India is one of the
lowest in the world. Only one third of the
farmers in India use agrochemicals.”
Dhanuka makes a strong case to
minimise crop losses due to pests and
diseases by increasing use of crop pro-
tection chemicals, as there is need for
more food to feed the increasing popu-
lation. “Rising income of middle class
has resulted in increasing demand for
food. Even as the population of the
country is increasing, arable land is
shrinking due to increasing urbanisa-
tion,” he reasons.
Pesticide usage has played a domi-
nant role in controlling pests in the
Indian agriculture system for many
years, explains Gupta, adding, “As the
cropping pattern in India is becoming
more intensive, the use of these pes-
ticides in agricultural practices in the
country is also increasing.”
Defining agrochemicals, Gupta says,
“They refer to a broad range of pesti-
cides including insecticides, herbicides,
fungicides, biopesticides, plant growth
regulators and rodenticides. Agro-
chemical or agrichemical is fundamen-
tally an agricultural chemical, a generic
term for chemical based agricultural
products or can be termed as chemical
compounds used for crop protection.”
Growing environmental awareness
has led to the development of eco-
friendly measures of crop protection.
“In this regard, the consumption of
biopesticides has shown significant
progress as witnessed over the past few
years. The application of biopesticides
has been gaining traction on a global
platform for controlling insect pests
and diseases in the farm field,” informs
Gupta.
Some swiftly budding market seg-
ments in the biopesticides space
include bioinsecticides, biofungicides
and bionematicides. “The contribution
of biopesticides in the Indian pesticides
market has witnessed stupendous
growth in revenue terms; the segment
has recorded growth in its share from
2.1 per cent in FY07 to 4.8 per cent
in FY13. The revenue contribution of
biopesticides has witnessed growth at a
relatively high CAGR of 26.4 per cent.
Organic farming is another important
India Pesticides Market
Segmentation FY’ 2013
Generic Patented
71.4%
28.6%
Source: Ken Research
“India is a leading producer
of pesticides in Asia with
over 400 million acres
under cultivation...(in) supply
of pesticides, India ranks
fourth globally...indicating
the significance...”
—Ankur Gupta
Head Marketing
Ken Research

se c tor al update A g r o c h e m i c a l s
protection chemicals in the world, at
~0.5 kg per hectare (world average is 3
kg/ha). It is estimated that India can
save additional `3 lakh crore (US$ 5.12
billion) per annum by adopting assured
plant protection coverage,” Dhanuka
says. The crop loss due to non-use of
pesticides is estimated to be around
US$ 17 billion annually. According to
Ken Research estimates, nearly 30 per
cent of potential crops in India are lost
to insects, weeds and rodent attacks.
“Because only 35 per cent to 40 per cent
of the total farmland in India is under
pesticide treatment, there is a signifi-
cant proportion of the market in India
which is left underserved,” says Gupta.
North America, European Union
and Asia Pacific are among the world’s
highest consumers of agrochemicals,
consuming 75 per cent of the total pro-
duction.
Dhanuka is happy though at the
increasing awareness amongst farmers
(only 25–30 per cent of the farmers are
currently aware of agrochemical prod-
ucts and their usage) about the correct
usage and cost benefit analysis of using
plant protection chemicals, through
on-ground efforts of agrichemicals
companies.
As a corollary, with increasing
awareness of farmers, rising incomes,
availability of better irrigation alterna-
tives and lessening dependence on
monsoon, government initiatives, self-
sufficiency in foodgrains, scientifically
advanced and effective plant protec-
tion products and other conducive
factors, the plant protection chemicals
industry is growing at a rapid pace. The
consumption of pesticides in India,
although low, has thus been gaining a
strong foothold.
The Indian pesticides market is
majorly held by generic products. In
recent years, most Indian technical
manufacturers in the country have
been focusing on off patent pesticides.
The Indian agrichemical industry is
capital intensive and highly regulated.
It is mainly composed of technical
grade manufacturers who usually sell
premium quality chemicals in bulk to
the formulators, who then prepare for-
mulations by mixing the carriers, sol-
vents, surface active agents and other
relevant compounds.
market trend that has provided signifi-
cant impetus to the market,” Gupta
shares some statistics. On the whole,
the crop protection industry in India
has been displaying changing dynam-
ics, with herbicides and biopesticides
showcasing swift growth as compared
to insecticides and fungicides as wit-
nessed over the last few years, he adds.
Dhanuka also insists on the need for
promotion of crop protection practices
to save meagre resources. Food secu-
rity and sustainability concerns have
become much more severe today than
ever before, as the country is facing
several serious challenges for augment-
ing its foodgrain production. India
lags behind the world average in yield
per hectare in many important crops.
“Despite large areas under cultivation of
paddy and wheat, we lag behind in total
production. Insects, fungus and weeds
destroy crops worth billions of dollars
annually,” he emphasises.
He attributes this to many reasons,
including lack of usage of plant pro-
tection chemicals, which results in
massive crop wastage due to various
pests and diseases. “India has one of
the lowest consumption levels of plant
Average Consumption of Pesticides in India
Compared with Other Countries across the
Globe, 2012
Korea
Japan
US
Others
Europe
India
0.0 5.0 10.0 15.0 20.0
0.6
3.0
3.0
4.5
Kg/Ha
10.8
10.8
l Remarkable growth in terms of
volume of pesticides produced over
the last seven years
l India is the fourth largest producer of
pesticides in the world
l Industry is undergoing wide ranging
transformation including increased
role of MNCs, joint ventures of Indian
companies with multinational pesti-
cides companies and consolidations
l Inclining demand for organic food
l Synthetic chemicals will continue to
rule in the chemical pesticide market
Developments and
Milestones

A g r o c h e m i c a l s se c tor al update
In the chemicals sector, the govern-
ment allows 100 per cent FDI. Bayer,
BASF, DuPont, Monsanto, Cheminova,
Syngenta, Makteshim, Isagro and Sum-
itomo are some of the leading foreign
players in the space.
Explaining the dominance of foreign
companies in the space, Gupta says,
“One of the greatest challenges that
Indian pesticides companies face in
capturing a greater patented market is
the registration of the product because
of the high cost of registration in the
US.”
Availability of cheap labour and low
processing costs offers opportunity for
MNCs to set up manufacturing hubs
in India for their export markets. The
sector is also driven by huge opportu-
nity for contract manufacturing and
research for Indian players due to easy
availability of technically skilled person-
nel.
“Another boost for pesticides con-
sumption is from the growing horticul-
ture and floriculture industries,” says
Gupta.
Dhanuka regrets, “There are many
myths and misconceptions about agro-
chemicals in India, resulting in very
low agrochemicals consumption and
very high wastage of crops. This is a
highly regulated industry worldwide.
Vigorous lab tests and field trials have
to be conducted and results have to be
submitted to the Central Insecticides
Board, Department of Agriculture. It
takes almost four years to get a new
molecule registered, before launching
it in India.”
Giving an example he says that of
the 15,321 samples of food commodi-
ties analysed by the concerned govern-
ment department during April 2010
to March 2011, only 188 had pesticide
residues above the maximum residue
limits prescribed under the Preven-
tion of Food Adulteration Act, 1954.
“This goes to prove that most of the
fear in public minds is unfounded and
is resulting in food shortages, starva-
tion, malnutrition and food inflation.”
Global agrochemicals players are scout-
ing Indian shores for profitable busi-
ness collaborations as by 2020 billions
of dollars worth of agrochemical pat-
ents will be expiring. They are seeking
low cost manufacturing expertise. It is
expected that as at least US$ 9 billion
worth of patents for more than 50 agro-
chemical products will be taken off the
patent list, manufacturing will move to
emerging markets like India to tap cost
effective opportunities.
As of now no RD is being done
in India to invent a new molecule, as
the costs are very high. It is estimated
that inventing a new molecule would
require an investment of 5–10 years
and approximately `500–1,000 crore
(US$ 85.38–170.77 million). Most of the
research for new molecules is done in
US Japan.
Japan meanwhile is at the forefront
of foreign nations seeking India tie-ups
and has already started forming alli-
ances with Indian agrochemical firms.
Talks are on between many Indian
agrochemical manufacturers and glob-
al companies and more deal announce-
ments are expected soon.
(Source: Interviews secondary research)
“There is huge growth
opportunity in the sector, as
the consumption of crop
protection chemicals in
India is one of the lowest in
the world. Only one-third of
the farmers in India use it.”
—Mahendra Kumar Dhanuka
Managing Director
Dhanuka Agritech Limited
l The low consumption of agro chemical products
in India accounting for only 0.58 kg/hectare
relative to the world average of 3 kg/hectare
indicates immense growth potential for the pesti-
cides business in India in the coming years
l The share of bio-pesticides segment which pres-
ently forms 4.8% of the total market is expected
to grow to nearly 9.3% in next five years
l The availability of inexpensive labour and low
cost of processing
l Opportunities in horticulture and floriculture sup-
porting demand for pesticides
Investment
Opportunities

se c tor al update T ELECOM
I
ndia’s insurance sector is growing from strength to
strength, with its prospects looking bright. The sec-
tor which stood at a strong US$ 72 billion in 2012 has
the potential to grow to US$ 280 billion by 2020. The
growth is being driven by the country’s favourable
regulatory environment which ensures stability and fair play.
This is promoting an insurance market which encourages
foreign investors to tap into the sector’s massive potential.
The Indian insurance sector is successfully charting a course
in different segments.
Life Insurance
Life insurance has witnessed phenomenal growth in the last
decade. Between 2003 and 2012, life insurance premium col-
lections expanded at a compound annual growth rate (CAGR)
of 20.1 per cent. Premiums worth US$ 59.9 billion were col-
lected in 2012. Penetration levels have increased from 2.3 per
cent in 2001 to 3.4 percent in 2012. The opening of the seg-
ment and substantive evolution in distribution channels has
facilitated this expansion.
Life insurance was opened up to the private sector in
2001. The huge potential of the segment soon attracted new
Policy Success
TheIndianinsuranceindustryisreinventingitselfto
tapnewopportunitiesandexpandhorizons. by Charu Bahri
Insurance
entrants. By 2003, a handful of private players had started
operations. Then, they had merely 2 per cent of the market;
by 2012, their numbers had risen to 23 and they had cornered
29.3 per cent of the market.
Public sector giant Life Insurance Corporation (LIC) is the
undisputed segment leader, boasting 70.7 per cent share in
2012. ICICI Prudential follows a distant second, with 4.9
per cent share. Other better known life insurers are SBI Life,
Birla Sunlife, HDFC Standard, Max Life and Bajaj Allianz.
Today, individual and corporate agencies, banks (bancassur-
ance), brokers and direct offline and online sales mediums
vie among themselves for a bigger share of the pie. Together,
they are also working on growing the pie, for which there is
plenty of scope.
“The bank channel has gradually increased its share to
about 35 per cent of the new business premium (or 20 per
cent of the number of policies) of private life insurers in
2012,” observes Shashwat Sharma, Partner, Management
Consulting, KPMG in India. It is a win-win proposition for
life insurance companies, banks and customers. Custom-
ers perceive banks as trusted financial advisors. Insurance
players get access to an existing customer base. Banks can

i n s u r a n c e se c tor al update
tap a new risk free revenue stream and evolve into one stop
shops for financial solutions. In future, KPMG expects
online sales to gain ground for being a low cost channel and
because internet penetration and customer awareness levels
are rising.
Another potentially promising channel is the mobile plat-
form. India is a majorly underpenetrated life insurance mar-
ket. Sales are largely driven by tax incentives on the uptake of
insurance policies. Consumer awareness of insurance poli-
cies as saving devices is low. But this is expected to change.
Per capita and disposable incomes and hence, household
savings, are rising across metros, Tier II and Tier III towns,
creating a new and large insurable class.
According to Binay Agarwala, Executive Vice President,
ICICI Prudential Life Insurance Company Limited, “Life
insurance products have started to compete with other
financial savings products. We believe the pension category
holds a lot of promise. A major plus of life insurance is it
provides the dual benefits of protection and savings. Grow-
ing financial awareness coupled with an increasing work-
force offers a compelling reason for the Indian life insur-
ance industry to grow.”
General Insurance
Both private and public sector insurers occupy the motor,
health, travel and fire general insurance segments, whereas,
reinsurance, credit and crop insurance are currently the
exclusive domain of Indian public sector companies.
Gross written premiums in the non-life insurance segment
registered a CAGR of 19.6 per cent over the last decade. In
2012, US$ 72 billion worth of non life insurance premiums
were collected. As in life insurance, multi delivery mecha-
nisms have become an accepted modus operandi in general
insurance. Online selling, direct sales and telemarketing
have helped bring companies closer to the customer and
grow the industry. Still, the general insurance penetration in
percentage (ratio of premium to Gross Domestic Product) is
merely 0.7 in India vis-à-vis 2.8 globally. The general insur-
ance density, the ratio of premium in US$ to the population,
is 10 in India vis-à-vis 283 internationally, which shows the
enormous scope for growth.
KPMG analysis and the IRDA Annual Report 2012 expect
the Indian general insurance sector to grow at a CAGR of 16
per cent between 2012 and 2020.
Based on last year’s performance, motor insurance enjoys
the largest slice of the general insurance pie, a clear leader
with 43.1 per cent, thanks to rising sales and rising third party
premium rates. Other important segments are health, fire,
marine and engineering insurance.
Bright prospects await all general insurance segments. In
particular, health insurance penetration is expected to more
than double by 2020. It is one of the fastest growing slices,
with the number of persons covered having increased expo-
nentially from approximately 8 million in 2004 to 73 million
in 2012, excluding 160 million individuals covered by the gov-
ernment’s Rashtriya Swasthya Bima Yojna.
KPMG expects the increasing numbers of small and medi-
um enterprise takers and moderate increase in premium
rates to propel the near-term growth of the fire segment. Con-
tinued economic growth and international trade expansion
would drive the marine segment. Individual and livelihood
microinsurance have great potential, provided companies can
surmount the barriers of low rural awareness levels and low
access. Government plans to extend the number of farmers
covered by crop insurance from 30 million to 50 million dur-
ing the 12th Five Year Plan (2012–17).
Favourable Environment
The Indian insurance industry operates in a favourable
regulatory environment from the perspective of driving busi-
“We are taking
the lead in
creating Natural
Catastrophe
Insurance
Pool for the
Indian market...
and a Nuclear
Insurance Pool.”
—Ashok K Roy
Chairman-cum-Managing
Director
General Insurance
Corporation of India
“Growing
financial
awareness...
offers a
compelling
reason for
the Indian life
insurance
industry to grow.”
—Binay Agarwala
Executive Vice President
ICICI Prudential Life Insurance
Company Limited

se c tor al update i n s u r a n c e
price detariffication in 2007, merger acquisition guidelines
in 2011 and third party premium increases and the introduc-
tion of a declined risk pool for motor insurance in 2012.
A number of foreign investors have evinced an interest in
entering this attractive market perforce through investments
in the existing Indian insurance setup in view of current gov-
ernment regulations stipulating that such foreign sharehold-
ings be limited to 26 per cent.
Gopal Verma, Chairman Managing Director, eMeditek,
a TPA, is hopeful that the scope for foreign investments is
expanded to Indian TPAs—“Global insurance companies
and process outsourcing companies would make gains from
outsourcing the processing of insurance claims to efficient
and highly experienced Indian TPAs. Such investments
would bring in best practices in addition to capital invest-
ment.”
Innovations Aplenty
Among innovations which are growing the product range,
and in turn the market, are customisation—the launch of
products designed to match the risk profile of policy holders,
and products with more benefits attached.
The life insurance segment has seen the launch of life-
cum-health protection and other products. Agarwala men-
tions a few innovative products from ICICI Pru—“ICICI Pru
Easy Retirement is for cost-effective retirement planning
and ICICI Pru Guaranteed Wealth Protector, which gives
customers advantageous equity exposure of up to 60 per
cent and protects their investment through a capital guaran-
tee feature.”
Health insurance players are offering policies tailored for
specific disease profiles, such as diabetes cover, cancer cover,
etc. As the segment matures, Verma expects health insurance
policies to integrate wellness, preventive health checks, out-
patient procedures and more services. “I foresee the number
of claims increasing and the role of Third Party Administra-
tors metamorphosing,” he says.
Any new product launched by a direct insurance company
needs extensive reinsurance support, especially in the initial
period. In this, the Indian insurance market has full support
of General Insurance Corporation of India, the sole operator
in the segment. “We have covered recent new launches in the
liability, oil energy, aviation and cyber insurance segments,
and some personal lines like Takaful. Also, we are taking the
lead in creating a Natural Catastrophe Insurance Pool for the
Indian market and setting up an Indian Nuclear Insurance
Pool,” shares Ashok K Roy, Chairman-cum-Managing Direc-
tor, General Insurance Corporation of India.
Nothing will secure the prospects of the insurance industry
as much as companies getting proactive about innovation.
Certainly, the Indian insurance sector is poised to go far.
ness. The Insurance Regulatory and Development Authority
(IRDA) promotes the uptake of insurance through directives
aimed at creating a healthy, competitive and efficient market-
place, populated by responsible players who maintain pru-
dent underwriting standards. Insurance products are covered
under the exempt, exempt, exempt (EEE) method of taxation,
for effective tax benefits of approximately 30 per cent on
select investments.
Regulatory changes made in the last decade have effectively
increased the stakeholders in the Indian insurance industry
beyond insurers, to also include agents (individual and cor-
porate), brokers, surveyors and Third Party Administrators
(TPAs) servicing health insurance claims. The IRDA has per-
mitted life insurance companies that have completed 10 years
of operations and meet other criteria, to raise capital through
initial public offerings. Other notable milestones include the
introduction of standalone health insurance players in 2006,
“Global
insurance
companies
and process
outsourcing
companies
would make
gains from...
Indian TPAs.”
—Gopal Verma
Chairman MD
eMeditek
“The bank
has increased
its share to
about 35 per
cent of the
new business
premium of
private life
insurers...”
—Shashwat Sharma
Partner
Management Consulting
KPMG, India

W at e r Ma r k e t se c tor al update
Thirsting for Success
The Indian water sector is emerging as an
attractive investment opportunity. By Sangita Thakur Varma
Water Market
W
ater, the world over,
is a big concern. It
is scarce and pre-
cious and countries
across the globe
are working towards preserving this
irreplaceable elixir of life. India too
has been working consistently towards
developing its water resources right
since Independence. However, with
only four per cent of water to serve the
needs of a booming 18 per cent of world
population, the country throws up many
ing, “India’s growing population and
economy, combined with the impact
of climate change, is not only making
water scarcity a stark reality in many
parts of the country but is also leading
to the rapid growth and development
in the water sector. It is believed that
the water sector can create potential
investment of approximately US$ 130
billion by 2030. The per capita annual
availability of water is expected to reduce
from the current 1,700 cubic metres to
less than 1,000 cubic metres by the year
challenges (National Water Policy, 2012).
With challenges also come opportuni-
ties in the water sector and in the recent
decades, much interest has been gener-
ated in India’s water management and
the policy related to it.
“Challenges create stronger business-
es,” says Karan Chechi, Research Direc-
tor, TechSci Research, a leading market
research and consultancy organisation,
emphatically.
M H Subramaniam, Editor and COO,
EA Water Private Limited, agrees say-

se c tor al update W at e r Ma r k e t
“ The industry creates
an excellent opportunity
for foreign water
treatment and purification
companies...in the
lucrative Indian market.”
—Karan Chechi
Research Director, TechSci Research
2025. Water recycling, industrial water
treatment and sea water desalination are
some of the big opportunities.” How-
ever, he adds, “Technology would be a
key differentiator and organisations that
develop superior technology and execu-
tion capability, would be the leaders of
the future.”
The current total demand for water in
India is about 800 billion cubic metres
and this is expected to rise to 1,050 bil-
lion cubic metres by the year 2025. Cur-
rently, irrigation consumes over 70 per
cent of the total demand, but industrial
and utility water needs are expected to
grow the fastest.
The water sector in India encom-
passes the multiple techniques for water
conservation and preservation to fight
scarcity, and wastewater treatment and
purification. Rapid urbanisation and
industrialisation have escalated demand
for these services and acted as an impe-
tus for market growth. Other factors
driving the growth of the market are
chronic water shortages due to fluctua-
tions in groundwater level; erratic rain-
fall and lack of infrastructure to store it;
and government initiatives for efficient
water management with private partici-
pation for which it is offering various
incentives and exemptions among other
things.
Chechi throws light on this emerging
water market scenario: “India is grow-
ing, Indian economy is growing and
hence the demand for commodities
is also growing. Water is no different
and India has reported exponential
increase in domestic as well as indus-
trial requirements. The limited water
resources have forced industry players
to opt for recycling and water harvesting
approaches, which germinated a whole
new segment, i.e., water and wastewater
management solutions.”
The growth of the Indian water market
thus is primarily driven by the increase
in demand for fresh water in the urban,
industrial and agricultural sectors.
Further, the growing population, rapid
urbanisation and increasing industrial
activities are constraining fresh water
resources, consequently generating
immense opportunities for the water
and wastewater treatment market,
and advanced treatment technological
systems such as reverse osmosis (RO)
membranes.
According to Subramaniam, “The
water market in India is a loosely
defined combination of a variety of sec-
tors, all linked by their involvement in
the supply of clean water and discharge
of wastewater. Providers to this sector
in India include public buyers such as
central and state governments, public
and private vendors of water related ser-
vices, equipment and consumables, and
industrial and domestic end-users.”
Traditionally a very fragmented mar-
ket, there has been some consolidation
in recent times. “A number of interna-
tional companies from North America,
Europe, Israel, Japan and Korea have
shown a keen interest in the Indian
market. However, there is a need to
have widespread reach and relationship,
which should work to the advantage of
Indian companies in this sector,” Subra-
maniam sums up the market scenario.
The water market is still not clearly
segmented. “The water management
market is slightly ambiguous, as water
treatment is often considered as waste-
water treatment, whereas water purifica-
tion, water treatment and wastewater
treatment sectors are three completely
different verticals,” says Chechi.
However, the wastewater treatment
and purification industry in India clearly
has an edge over the other sub segments
as Subramaniam says it has shown tre-
mendous growth in the last couple of
years. “The industry creates an excellent
opportunity for foreign water treatment
and purification companies to collabo-
rate with Indian players, and generate
revenues in the lucrative Indian mar-
ket.”
Another attractive subsegment is the
membranes market which includes the
RO, UF and MF membranes market.
An attractive venture, opportunities here
expand to include the water treatment
sector, such as desalination and water
purifying. This segment is dominated by
MNCs. There are other niche segments
India Second largest
water consuming country
Source: Business Initiatives and Opportunities
in India in the water sector, EIRC
Indian
water
sector
Industrial
Waste
water
Municipal
Drinking
water
Municipal
Waste
water

W at e r Ma r k e t se c tor al update
and capital intensive sectors such as
wastewater treatment plant installation,
equipment, mobile wastewater treat-
ment, etc., that are a big draw.
Opportunity lies in almost every
subsegment of the water sector. While
some are witnessing average growth, a
few others are reporting an aggressive
growth rate. The water treatment chemi-
cals segment is one of the most lucrative
segments witnessing the active involve-
ment of industry players of all sizes
including international companies. It is
a high profit margin subsegment where
companies are operating at minimum
15–20 per cent profit margins.
The lack of clear division has in no
way impacted the market. According to
the India Water Market Report by Every-
thingAboutWater, the current size of the
water and wastewater market is US$ 12
billion and is expected to grow at a rate
of 10–12 per cent annually. Government
projects contribute over 50 per cent of
revenues in this market while the pri-
vate sector contributes the rest. “Some
segments of the market like industrial
water treatment, wastewater recycling,
sea water desalination and residential
water purification should be growing at
faster rates,” Subramaniam forecasts.
The wastewater treatment segment
alone, which is still in the nascent
stages, is worth US$ 3 billion, “There
are a lot of latent opportunities that need
to be explored and are still unfolding,”
says Chechi. The overall wastewater
treatment market is growing at a CAGR
of around 14 per cent though some seg-
ments might vary 1–2 per cent depend-
ing on the involvement of Indian and
Chinese players.
An improvement of a mere 7 per cent
was recorded in wastewater treatment
levels in India in the last one decade—
a statistical proof of the vast pool of
untapped opportunity in the market.
Chechi presents an analysis of the
existing opportunities. In 2003-04, dif-
ferent sectors in the country were pro-
ducing about 26 billion litres per day of
wastewater, of which, all the ETPs (efflu-
ent treatment plants) and STPs (sew-
age treatment plants) could treat only
7 billion litres per day. This converts to
27 per cent of the total wastewater gen-
erated. However, a decade later (2011-12),
the percentage of treated water slightly
improved to 32 per cent of the total
wastewater produced per day. With only
60 per cent of industrial and 26 per cent
of domestic wastewater being treated
currently, wastewater management has
emerged as a key thrust area.
“Market players are optimistic, the
government is optimistic, and so we do
believe in the growth of the wastewa-
ter treatment market in India, which
according to us is poised to grow at a
CAGR of over 14 per cent over the span
of the next five years,” Chechi sum-
marises the growth avenues.
Under the 12th Five Year Plan (2012-
17), the Government of India has demar-
cated an outlay of US$26.5 billion for
the sector. “The government investment
will largely be concentrated on providing
drinking water to rural and urban mass-
es, but the effort and process to make
water available for its people will divert
funds indirectly to the local and multina-
tional private players in the form of PPP
or BOT or BOOT and plant installation,
to name a few,” Chechi is positive.
According to an EY (formerly Ernst
Young) report, the India water sec-
tor requires an investment of around
US$ 130 billion between 2011 and 2030.
“However, a major challenge for indus-
try players, government and researchers
in the wastewater treatment space is
posed by the lack of exact calculation of
market potential and data availability,”
says Chechi.
At the India Water Forum 2013, Presi-
dent Pranab Mukherjee emphasised the
importance of water management in his
speech: “The National Water Policy 2012
recognises the need to improve effi-
ciency in the use of water resources. The
improvement of water use efficiency
requires innovative tools of promo-
tion and incentives for efficient water
utilisation. At the same time, it calls for
“ The water market in
India is a loosely defined
combination of a variety
of sectors, all linked by
their involvement in the
supply of clean water and
discharge of wastewater.”
—M H Subramaniam
Editor COO
E A Water Private Ltd
Municipal
l Water supply and sanitation
l Treatment and purification
l Pumping and water transportation
l Wastewater treatment and
recycling
Industrial/Building/
Institutional
l Hotels, hospitals, shopping malls,
apartment complexes
l Process water treatment
l Wastewater reatment and
recycling
Residential
l Home purifiers
l Bottled water
Opportunity
Segments

se c tor al update W at e r Ma r k e t
dealing with inefficient water consump-
tion through disincentives and stricter
regulation. In the past, focus was laid
primarily on augmenting the quality of
water available without giving due atten-
tion to the manner in which the water
will be used or managed. A paradigm
shift from ‘water resources develop-
ment’ to ‘integrated water resource
management’ is now necessary. For that,
the existing institutions involved in ser-
vice delivery have to be restructured and
strengthened.”
The year 2013 was declared as “Water
Conservation Year” by the Union Cabi-
net. The National Water Policy 2012 and
the National Water Mission too reiter-
ated the country’s focus on water, and
emphasised the government’s policy
regarding it and the ways it proposed to
ensure water conservation and its equi-
table use.
In 2011, EY brought out a report titled
Water Sector in India-Emerging Invest-
ment Opportunities that brought the spot-
light on the sector. The report pointed to
the consolidated Foreign Direct Invest-
ment (FDI) policy of the Government of
India allowing 100 per cent FDI in both
demand as well as supply segments
of water. This opened up investment
opportunities for foreign investors in the
various water industry segments includ-
ing supply and distribution, sewage and
sanitation where there was limited pri-
vate sector involvement. These opportu-
nities, set to multiply, given the size and
the growing and diverse water needs
of India, have made its water market a
huge investment potential for foreign
companies.
The study found that the Indian
water sector had the capacity to create
investment potential to the tune of US$
130 billion by 2030. With private sec-
tor involvement increasing in India’s
water sector, there would be a need for
efficient water and wastewater manage-
ment to improve operating efficiency
levels. This would lead to increasing
investment in emerging wastewater
technologies such as the Hybrid Reac-
tor and Solid Aquifier Treatment (SAT)
technologies. Urban water demand and
water treatment and recycling space
would become the hot sectors for invest-
ment, the report had forecast.
A 2013 report by Austrade – India team
titled Water – Overview and Opportuni-
ties in India summed up the key drivers
of the burgeoning Indian water mar-
ket under two heads—industrial and
municipal. While India’s rising indus-
trial growth, large infrastructural proj-
ects like SEZs and parks, depletion in
groundwater, stringent pollution control
norms and supportive government poli-
cies will boost the water sector on the
industrial side; on the municipal side
there is a growing demand for water,
need for sanitised water and budgetary
allocation from government that would
drive the sector.
The Austrade report also points to the
US$ 300 million worth investments
under National Water Mission whose
implications for the business sector are
huge. The government has also invested
US$ 20 billion (2012-17) for sewage
treatment, recycling and irrigation, US$
300 million (2013-14) for drinking water
purification and there is US$ 170 mil-
lion PE in the wastewater industry.
For now, the constraints of lack of
accurate data persist in the wastewater
management space. Chechi says, the
latest data available with CPCB (Central
Pollution Control Board) for 2011-12 is of
major indicators, whereas its 2009-10
data is detailed. A few of the contami-
nant levels are not being monitored, and
if monitored, then the samples taken
belong to only a specific location.
The best available actual data on
wastewater treatment is only for Tier I
and II cities. According to Chechi, real
time monitoring of data is important as
the lack of it hampers in policymaking
and as a result companies are unable to
make investment decisions.
“I remember, I was going through a
British government industry whitepaper
on investment opportunity in the Indian
water sector, where they had clearly
mentioned that no concrete market data
is available,” recalls Chechi. He is con-
fident that with the right data scientists
will have the desired set of correct data
indicators and can then suggest to gov-
ernments policies and programmes for
sustainable development.
Numerous innovations are being
attempted in the wastewater treatment
space in recent times in India, but they
require organised and concrete incuba-
tion, says Chechi. In the absence of this,
most such innovations lose applicability
in a constantly changing technosphere.
“TechSci had suggested an innovative
idea for converting treated wastewater to
irrigation water to a multinational com-
pany that wanted to enter India,” says
Chechi recounting an experience where
lack of awareness led to the project
not being permitted. The state govern-
ment, under a misconception that such
a process could harm crops and health
of farmers, turned down the proposal.
It is important for India to be open to
new ideas, he says. “The Indian market
is not ready to accept such inventions.
Some efforts are being made by social
entrepreneurs, but the number of such
entrepreneurs is very low.”
Subramaniam too contends that in
order to organise the highly fragmented
water market, there is an immediate
need for a common trade platform
where buyers and sellers from the water
industry can network and initiate mutu-
ally beneficial business relationships.
Water Requirement By Different
Sectors
Sector 2010 2025 2050
Irrigation 688 910 1072
Drinking Water 56 72 102
Industry 12 23 63
Energy 5 15 130
Others 52 72 80
Total 813 1093 1447
* Data from Ministry of Water Resources.
* All the values in Million KM3

B u s i n e s s Av i at i o n se c tor al update
Business aviation expands its wings across Indian
skies capturing global attention. by Sanjay jha
T
he Indian aviation sector has witnessed a phe-
nomenal growth in the last decade. It registered
a growth of 12 per cent in the past 10 years and is
expected to maintain the pace
in the years to come. Propelled
by India’s growing economy, the industry is
all set to become the third largest aviation
market across the globe by 2020. According
to a FICCI-KPMG report on the Indian avia-
tion sector released in March 2014, India
could become the largest aviation market by
2030, given the large untapped potential for
growth, with 99.5 per cent of the country’s
population still dreaming of flying.
The demand for business jets will grow
in the years to come as they can connect to
destinations not served by scheduled opera-
tors. Earlier seen as a luxury, business jets
are now witnessing high surge in demand
as chartered services for tourism, medical and other pur-
poses.
India has emerged as the biggest fleet owner of business
aircraft in the Asia Pacific (APAC) region
with 15 per cent market share, leaving
behind China. According to a report by
Beechcraft Corporation, a leading manu-
facturer of business aircraft, in the APAC
region, India has a fleet of 254 business
aircraft as compared to 213 in China, 192
in Japan, 150 in Hong Kong, 66 in Malay-
sia, and 53 in Thailand. As per the report,
Indian businessmen purchased 38 per cent
more aircraft during the economic slow-
down period of 2008–12, as compared to
the previous five years.
According to Firestone Management
Group’s first biannual report, Private jet
landscape within the Republic of India,
Raring to Go
Business Aviation
(pilots, crew,
technicians, loaders,
maintenance
staff)
Indirect
(an almost equal
number)
Source: BAOA
Employment Generated
12,000Direct personnel

se c tor al update B u s i n e s s Av i at i o n
released in March 2014, 43 jets were
added in the last three years alone. The
cost of a private jet ranges between US$
4 million and US$ 58 million. The coun-
try has witnessed a significant growth
in the number of non-scheduled airline
operators, from a mere 36 in the year
2000 to over 200 in 2011. From a figure
of fewer than 40 in the year 2005, today
there are around 550 private aircraft in
India, with 50 per cent fixed wing planes.
Enabling Growth Factors
India is located strategically between the
Middle East and Europe on one side and
the East Asian economies on the other,
which fuels the demand of general avia-
tion (GA). The growing economy has resulted in the increase
of wealthy Indians or high net worth individuals (HNIs),
which in turn has spurred the demand for business jets, to
invest in more productive hours.
“The business aviation market, specifically the private jet/
charter market, depends on the size of a country’s economy, the
maturity of its market, and the size and scale of business. With
India witnessing growth over the past decade and an influx of
many foreign players, business aviation has seen a significant
growth,” said Satyendra Pandey, Manager, CAPA India.
Beechcraft, quoting Knight Frank Wealth Report 2013,
said the number of wealthy businessmen (HNIs) in India
would double from 8,481 in 2012 to 17,032 in 2022. In order
to increase their productivity and customise travel, corpo-
rate travelers are looking to buy corporate jets for business
purposes. Besides, owning a private jet has become a status
symbol and therefore many big market players are acquiring
business jets for personal use.
Most business jet and helicopter mak-
ers are upbeat about the lucrative poten-
tial of the aviation market in India. Man-
ufacturers such as Cessna, Gulfstream
and Hawker Beechcraft are either setting
up offices in the country or expanding
their existing businesses.
Tier II and Tier III cities in India have
shown huge potential for the develop-
ment of general aviation as these cities
are fast becoming local and regional
centres for manufacturing, trading and
logistics for many companies.
“It is not just the increasing number of
billionaires that will propel the growth
of the business aviation sector but the
advancement in regional connectivity will ensure its sustain-
ability. Due to flexibility and low cost, general and business
aviation would be providing 60–70 per cent regional con-
nectivity through code sharing with scheduled airlines, which
would provide sustainability to these operations,” opined
Capt R K Bali, Secretary, Business Aircraft Operators Associa-
tion (BAOA), a body that defines the standards of business
aviation in India.
Government’s Proactive Policies
100 per cent foreign direct investment (FDI) is permitted
under the automatic route for MRO, flying training institutes
and technical training institutions. As per the report of the
Working Group of the 12th Five Year Plan, a total investment
of more than `20,000 crore (US$ 333.72 billion) is expected
in general aviation in the plan period. This underlines the
fact that today business jets are no longer seen as a luxury but
0
100
200
300
400
500
600
204
233
279
352
390
462
520
548 551 558 552
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Source: BAOA
Growth in Business Aviation Fleet
as a tool for enhancing productivity.
“Business Aviation in India would
take off when our growth rate takes
off and right policies and infrastruc-
ture is in place. In the contemporary
world the single window system
and e-governance are the norms of
granting clearances, which is now
being planned by the government,”
added Bali.
The Ministry of Civil Aviation in
2011 acknowledged that the general
aviation sector needs more atten-
tion and has been mulling the idea
of appointing a Director for Gen-
eral Aviation. However, the DGCA
has been authorised to expand
safety oversight and general aviation
audits.
l Corporates
l PSUs and state governments
l Tourism—adventure, pilgrimage
l Oil natural gas exploration
l Power
l Mining geological survey
l Medical
l Disaster management
l Remote area connectivity
Sectors Using
Business Aviation
Source: BAOA

B u s i n e s s Av i a t i o n se c tor al update
Ironing Out Rough Edges
A report by CAPA, released in February 2011, projected new
aircraft sales up to US$ 12 billion over the next decade, to
reach 2,000 aircraft in the general aviation fleet. The report
estimated that about 75 per cent of the value of new aircraft
sales is expected to come from the business jet sector. As a
result, the direct and indirect economic contribution of GA
could reach US$ 4 billion annually by 2020.
“The regulator needs to sit with the GA industry and
map a policy that supports the growth of the GA industry
as a whole. Collaborative rule making where the regulator
plays the role of a facilitator to clear barriers to GA growth
is required. Also, the government and industry need to
study the history/growth of GA in the US and Europe,
and use the information to model local (India specific)
requirements to encourage the growth of GA in the short,
medium and long term,” said A M Ganapathy, Managing
Partner Director, Commercial Business Aviation Ser-
vices Private Limited.
There are 150 airports in the country capable of handling
business aviation aircraft. With the spur in demand for
business aviation in India, the government is working on
upgrading and expanding airport infrastructure in Tier II
and III cities.
Race to Capture Market
BAOA says that during the next eight years India needs to
develop as many as 100 additional airfields. The aviation body
estimates that India needs at least 20 new FBOs to cover the
existing main airports and that there is also a case for estab-
lishing as many as 700 heliports around the country.
While US manufacturer Boeing is developing an SEZ
beside the Nagpur airport for setting up an MRO facility in a
joint venture with Air India, Bravia has also acquired around
35 acres of land in Nagpur for building hangars and Mumbai
based Max Aerospace is building a smaller MRO facility in
Nagpur. Air Works has three major facilities in India with
hangars at its base in Mumbai and Delhi dedicated to GA and
plans to acquire at least two more hangars in India.
Dassault Aviation, a part of French aerospace company
Groupe Dassault, which has a majority share in the Indian
business jet market, is looking at setting up an MRO centre
next year. The Zurich based leading global business avia-
tion company VistaJet, which has a strong base in Africa and
Russia, is in discussion with existing business jet operators
to find a domestic partner for its India operations. The busi-
ness jet operator plans to base two of its aircraft in India to
increase its footprint in the growing business aviation market
in the country. Empire Aviation (EA), from the Dubai based
Empire Aviation Group, has outlined a comprehensive range
of business aviation services for private aircraft owners in
India, which includes a one stop shop approach. Metrojet
Ltd, a leading provider of business aircraft services in Asia, is
planning to build a hangar in India as a part of its strategy to
make a hold in the growing marketplace.
l Corporate India recognising business
aviation as a vital commerce tool
l HNI growth, number of billionaires
l Development of tier II and III cities
l Life saving measures for critical
patients and use in disaster man-
agement
l Industrial, business opportunities in
remote areas, in the hinterland
Opportunities
Environment
Source: BAOA
“ With India
witnessing
growth over the
past decade...
business
aviation
has seen a
significant
growth.”
—Satyendra Pandey
Manager
CAPA, India
“ The regulator
needs to sit
with the GA
industry and
map a policy
that supports
the growth
of the GA
industry.”
—AM Ganpathy
Managing Partner Director
Commercial Business
Aviation Services Private Ltd

m ade i n i nd ia W i p r o
W
ipro Ltd, a leading global information technology, consulting
and outsourcing company, achieved a hat-trick in the corporate
governance sphere on March 21, 2014. It was declared the World’s
Most Ethical Company, 2014, for the third successive year by
Ethisphere Institute, an independent centre of research promot-
ing best practices in corporate ethics and governance. So what makes Wipro stand
among the best companies in the world? The companies are judged on five param-
eters: ethics and compliance program
(25 per cent); reputation, leadership and
innovation (20 per cent); governance
(10 per cent); corporate citizenship and
responsibility (25 per cent); and culture
of ethics (20 per cent). Reacting to the
achievement, Anurag Behar, Chief
A Good
CorporateCitizen
Wipro sets new benchmarks in ethical enterprise
as is charts its course across the globe as a top IT
company. By Ravi sagar

W i p r o m ade i n i nd ia
Sustainability Officer, Wipro, said, “At
Wipro, ethics, integrity and responsible
citizenship have always been at the core
of how we think and act.”
Ethics and responsible citizenship are
in the DNA of this global information
technology, consulting and outsourcing
company. Its Chairman, Azim Premji,
is not just a business tycoon but among
the avant-garde philanthropists of the
world. Premji has donated nearly 21
per cent of his stake in Wipro, which is
worth `25,000 crore (US$ 4.27 billion).
The money is invested in a trust that
funds and manages education focussed
philanthropic projects under the Azim
Premji Foundation. Premji is now keen
to establish sustainable models of his
social service ventures on the lines
of Bill Melinda Gates Foundation
and Ford Foundation, where he would
donate to social sector enterprises work-
ing in related fields. Premji is the first
Indian to sign up for The Giving Pledge,
a campaign led by Warren Buffett and
Bill Gates, to encourage the wealthiest
people of the world to make a commit-
ment to give most of their wealth to phil-
anthropic causes.
Wipro’s seeds were sown in the
Indian soil by an illustrious and patri-
otic business family. Founded in 1945
as Western India Vegetable Products
Limited in Amalner, Maharashtra, by
Mohamed Premji, son of the Rice King
of Burma, it was later abbreviated to
2014, its revenues from
continuing operations
were US$ 7.3 billion, an
increase of 16 per cent
YoY, while the revenues
from continuing opera-
tions for quarter ended
March 31, 2014 stood
at US$ 2 billion, an
increase of 22 per cent
YoY. Commenting on the
company performance
Azim Premji, Chair-
man, Wipro, said, “The
steady improvement in
global economy, coupled
with the exciting pace of
technological advancements, presents
us with opportunities to create innova-
tive solutions to help our customers dif-
ferentiate, compete and succeed in their
respective markets.”
It has certainly been a good year for
Wipro. The company was named ‘Lead-
er’ in Worldwide Life Science Manufac-
turing and Supply Chain ITO by tech-
nology global research and advisory firm
International Data Corporation (IDC) in
its report IDC MarketScape: Worldwide
Life Science Manufacturing and Supply
Chain ITO 2013 Vendor Assessment. It
won a five year infrastructure managed
services contract with a Fortune 500
global leader in specialty chemicals; a
seven year engagement with Xoserve, an
organisation which is an integral part of
Established in 1945 as
Western India Vegetable
Products Limited in
Amalner, Maharashtra
IPO for capital in February
1946
Ventured in to the fledgling
IT industry in 1981
Established software
products and exports
subsidiary, Wipro Systems
Ltd in 1983
Pioneered marketing
of indigenous Personal
Computers in 1985
Established a joint venture
with GE in 1989
Entered IT services in
the 1990s—among the
pioneers in developing
the ODC (Offshore
Development Center)
concept
Software business
assessed at SEI-CMM
Level 5 in 1998
Listed on NYSE in 2000
(NYSE:WIT)
The first company in the
world to be assessed
at PCMM Level 5 in
2001
Entered the BPO business
in 2002
Entered the Ecoenergy
business in 2008
Milestones
Wipro. The original busi-
ness was manufacturing
of vegetable and refined
oils under the brand
names Kisan, Sunflower
and Camel. In 1966-67,
the reigns of the compa-
ny passed into the hands
of the 21 years old, Stan-
ford University educated
Azim Premji, son of
Mohamed Premji, upon
the latter’s death. Azim
Premji took charge as
the Chairman and thus
began Wipro’s journey
as the fastest growing
company in the world. Premji diversi-
fied the hydrogenated oil manufactur-
ing business to bakery fats, indigenous
ingredient based toiletries, haircare
soaps, baby toiletries, lighting products,
and hydraulic cylinders.
The decades—1970 and 1980—saw
the company focusing on the emerging
IT and computing industries in India.
In 1977, the company was renamed
Wipro Products Ltd but it was in 1980-81
that it made its mark on the IT horizon
with still another rechristening as Wipro
Ltd.
Today, the company is a global infor-
mation technology, consulting and out-
sourcing company with 145,000 employ-
ees serving over 900 clients in 60
countries. For the year ended March 31,
7.3billion
Wipro revenues
from continu-
ing operations
for year ended
March 31, 2014,
an increase of
16 per cent YoY.

m ade i n i nd ia W i p r o
the restructured gas distribution market
in Britain; a large global bank selected
Wipro as a strategic partner to provide
quality assurance and automation ser-
vices; a leading apparel and footwear
company renewed its multi year engage-
ment with Wipro for application support
services in a managed services model;
it won a deal from a multinational tele-
communications company to manage
IT and network operations for their
enterprise business in India and a large
deal in the Basel II Risk Compliance
domain from a large state owned bank
in India.
In a recent development, Wipro
bagged the over US$ 400 million deal
from Takeda Pharma, the largest Japa-
nese pharmaceutical company. Under
the multi year deal that was described
as “strategic partnership”, Wipro will
develop and support IT requirements of
Takeda Pharma. It will provide IT infra-
structure to the pharma firm. A senior
company executive said the deal will add
to Wipro’s revenues immediately. The
company’s healthcare and life sciences
unit, which accounts for 10.3 per cent of
Wipro’s US$ 6.6-billion revenues from
IT services, is set to get a shot in the arm
from the deal. The healthcare and life
sciences unit grew 14.3 per cent for the
quarter ended March 2014. In the after-
math, the shares of Wipro rallied more
than 3 per cent in intra day trade on the
day the deal was signed.
The businesses of consumer care
products, domestic and commercial
lighting and infrastructure engineer-
ing is being carried out under the Wipro
Enterprises Limited umbrella. This has
two divisions—Wipro Consumer Care
and Lighting (WCCLG) and Wipro
Infrastructure Engineering (WIN).
WCCLG is among the fastest grow-
ing FMCG companies in India with a
strong brand presence in personal care
and skin care categories in South East
Asia and Middle East with significant
market share in identified segments. It
has a global workforce of 8,300 serving
over 40 countries. WIN is the largest
independent hydraulic cylinder manu-
“The steady
improvement
in global
economy
coupled with
the exciting
pace of
technological
advancements
presents
us with the
opportunities
... to help our
customers...”
Azim Premji
Chairman, Wipro
facturer in the world, delivering around
2 million cylinders to OEMs in different
geographies. It has a global workforce
of over 1,700 people, and 14 state-of-the-
art manufacturing facilities across India,
Northern Europe, Eastern Europe, US,
Brazil and China. The two associates of
Wipro Enterprises Limited are Wipro
GE Healthcare Private Limited and
Wipro Kawasaki Precision Machinery
Private Limited.
Recently, in a major sign of approval
of the measures initiated by Wipro CEO
T K Kurien, his salary crossed the mil-
lion dollar mark for the first time this
fiscal, as the company continued to back
his turnaround plans. The chief execu-
tive’s pay, including benefits, increased
from US$ 888,228 in fiscal year 2012-13
to US$ 1.1 million by the end of March
this year, primarily due to the rise in the
variable pay component. The company
also saw its Chairman Azim Premji’s
annual compensation, including salary
and benefits, more than doubling from
US$ 733,827 in fiscal 2012-13 to US$ 1.71
million.
Wipro’s good performance in all its
business verticals is based on its belief
in sustainability. For Wipro sustainabil-
ity means good citizenship for it believes
that corporations are “socio economic
citizens” and their objectives must be
congruent with society’s goals. Compa-
nies have the power to influence social
issues which translates into the “power
to do good”, hence it is a responsibility
incumbent upon them that must trans-
late into well thought out definite action
and not charity.
As a responsible entity the com-
pany tries to make an impact in society
through three clearly defined pillars:
1. Business Integrity: working under
a clearly defined code of conduct with
good corporate governance; 2. Eco-
logical Sustainability; and 3. Social and
Community Initiatives for sustainable
improvement of communities.
Some initiatives taken up by Wipro
under sustainability are Wipro Cares,
Wipro Applying Thoughts in School,
Mission 10XEco Eye and Earthian. In
2012-13 its sustainability accolades
included: Dow Jones Sustainability
Index (DJSI) World member for the
fourth time in a row; DJSI Emerging
Markets Index member for the second
time in a row; one of the seven compa-
nies from the IT sector globally and the
only one from India in Carbon Disclo-
sure Project (2012); ranked first in the
18th edition of the Greenpeace “Guide to
Greener Electronics” rankings in its first
appearance in the list; second globally
and first among IT companies in the
Newsweek 2012 World’s Greenest Com-
panies; featured in the Greenpeace Cool
IT Leaderboard rankings for the third
consecutive year, at No. 5 in 2013; and
rated “Prime” B+ by Oekom, leading
European Sustainability rater: ranked
global No: 1 for the IT services sector.
Wipro is setting new benchmarks in
good corporate citizenship even as its
Chairman raises the bar in meaningful
philanthropy.

W i p r o m ade i n i nd ia

The Big
BugSlayerIt’s the mother of all mosquito killers, trapping
1,000 bugs in a mere two hours. What’s more,
it is free of harmful chemicals, cost-effective
and has a long shelf life. By Binita singh
I nnovation Corne r M o z z i Q u i t

M o z z i Q u i t I nnovation Corne r
T
hat irritating buzz has always been a menace.
Earlier it was malaria, encephalitis and filariasis
that lurked threateningly. Post a monsoon
downpour, a new enemy lurks in the soothing
green potted plants, the puddle of water across the
road or even that bucket of water stored in the bathroom to
tide over perennial water woes—the deadly dengue causing
Aedes Aegypti mosquito. As of now people are arming
themselves with mosquito repellants, sprays, gels, electric
racquets, mosquito nets, and homemade and Chinese
remedies to buzz off the bugs.
But are these remedies really effective? And how eco-
friendly, harmless and cost-effective are they in the long
run? Not a lot as we all know.
MozziQuit may not yet ring a bell for many of us. Blame
it on the lack of commercial hype that usually surrounds
the launch of FMCG products. Yet, this mosquito trap is
an award winning patented innovation by serial innovator
Ignatius Orwin Noronha.
Fifty three year old Noronha is not a scientist by education
or training. It is surprising then that this commerce
graduate has such a keen knack for science and innovation.
His career, in fact, began as an office assistant for a Cypriot
Greek construction company in Bahrain where he worked
for seven years. Thereafter, he moved to Saudi Arabia
and worked for three years as Inventory Controller for a
manufacturing company producing construction chemicals,
fireproofing products and fertilisers as per the formulations
of W. R. Grace Co. of USA.
Noronha’s foray into innovation started about this time.
“As I got acquainted with the manufacturing of various
construction chemicals, in March 1999, I manufactured
waterproofing chemicals and executed waterproofing works
of RCC roof slabs in Mangalore. It was observed that after
first monsoon complete leakage was arrested. Since the
clients asked for 10 years guarantee against waterproofing
works, I carried out limited works in subsequent years to
monitor the results of waterproofing done for the required
period,” says the serial innovator.
The chemicals manufactured by Noronha were used in
place of equivalent products of FOSROC India Ltd, to repair
the deteriorated structure (container handling jetty) of JNPT
Port, Mumbai, above the sea, with polymer modified mortar.
The project was executed in the years 2000 to 2002, and is a
standing testimony of more than 12 to 14 years to Noronha’s
practical innovation in manufactured chemicals of polymer
modified mortar used for retrofitting works of container
handling jetty, that cost less than international products like
those of FOSROC. “The cost is much less as I do not have to
pay any royalty or high administrative costs,” says Noronha
of his innovation.
In 2002, the idea of MozziQuit germinated in Noronha’s
mind when he came across Mosquito Magnet manufactured
by American Biophysics Inc. of US, in Hyderabad, at their
Indian distributor’s facility. The mosquito repellent was
outrageously priced at `1,10,000 (US$ 1849.36) per unit
with a monthly operating cost of `5,000 (US$ 85.38), and
used a hazardous chemical called Oct-o-nel. “This made
me carry out RD on an indigenous economical mosquito
trap at affordable cost for Indians to eliminate mosquitoes,”
says Noronha of his initiative that led to the innovation of
MozziQuit.
Noronha was ready with his first MozziQuit prototype
by November 2002 despite receiving no support. “My first
prototype cost me just `2,000 (US$ 34.,15) and attracted and
trapped more than 1,000 live mosquitoes within two hours
between 6 pm to 8 pm in the evening.”
However Noronha was still struggling with high daily
Giant Killer: MozziQuit Max (left) and Mini (right)
are all-purpose mosquito trappers as they can
be used anywhere, in homes or cowsheds.

I nnovation Corne r M o z z i Q u i t
operating cost of `200 (US$ 3.42) per day. “Since then I
worked hard to bring down the operating cost to less than
5 paisa per day with excellent performance of trapping
mosquitoes.”
It was after several years of persistence that MozziQuit
attained commercial scale. Noronha matter-of-factly states
the reason, “Since there was no support from anyone for my
RD it took more than 12 years for me to release the product
to market.”
For this particular innovation, it was a personal pain point
that proved to be the inspiration for the serial inventor.
“I had made a resolution when I was just a small child,
about five years old, to destroy mosquitoes. It was when my
mother told me the cause for the swelling in one of her legs
was due to mosquito bite (filaria).”
The product comes in two variants—high and low
intensity. MQ-MAX, priced at `2,990 (US$ 50.27), is
The Practical
Innovator
I
n December 1999, Ignatius Orwin Noronha, approached IOCL with his innova-
tive 4” thick fibrous concrete mix design which took just 24 hours of curing for
the driveway of its petrol station at Goregaon East, Mumbai. The conventional
12” thick road concrete took 28 days of curing, and Noronha’s innovation prom-
ised cost saving in concrete material and labour amounting to 8” thick concrete
besides the advantage of allowing movement of traffic 24 hours after concreting.
Since it was a totally new technology, the general manger of IOCL, a civil engi-
neer, requested a 10”x10” sample size of cast on December 10, on which a three
step test was conducted the next day. First, a water tanker with 10 tonne load
capacity was run on it many times. Second, the same 10 tonne loaded
tanker moved at high speed and applied brakes just above the
sample concrete. The third test involved hitting the sample
concrete with a hammer. As the sample concrete
passed all tests, IOCL issued the work order in
March 2000 and the work was completed in April
2000.
After more than 14 years of use, the road
is a living testimony to Noronha’s extraor-
dinarily strong, durable and cost saving
innovation. It has been recognised by the
government, and Noronha, at the inivita-
tion of Oscar Fernandes, the then Min-
ister for Road Transport Highways,
gave a presentation on it to the senior
officials of Indian Roads Congress, in
January 2014.
The technology will save the ex-
chequer more than `7.50 lakh crore
(US$ 126.09 billion) against the
sanctioned 5 lakh kilometer road
works to be concreted during the
12th Five Year Plan period.
Serial Innovator: Ignatius Orwin
Noronha believes in finding
practical low-cost solutions.

the innovator entrepreneur.
MQ-MINI too is in great demand for use in flats and
houses as mosquitoes are ubiquitous, says Noronha.
He adds, “Our success lies in our innovative patented
technology which provides maximum level of health
protection to our customers.”
Comparing the benefits of MozziQuit with other models
he says, “These mosquito traps are harmful to users as
the UV radiation from the UV light installed in their traps
is directly visible which causes skin cancer and affects
eyesight. MozziQuit does not have any UV radiation.”
MozziQuit is being manufactured and marketed by
Leowin Solutions Pvt Ltd. It is a private limited company
that was established by Noronha with a vision to create an
environment that is free of mosquitoes and to innovate,
manufacture and market eco-friendly products. “Presently
we manufacture and market MozziQuit MQ-MAX and MQ-
MINI,” explains Noronha.
A great votary of research and innovation, Noronha
says, “RD enables companies to sustain in the market
against competition. Social responsibility should be made
mandatory for companies so that they encourage innovators
to carry out research and innovation.”
Perhaps this would lead to more such cost-effective, green,
consumer friendly products being innovated.
suitable for use in cowsheds, dog cages and houses where
mosquito density is high. The operating cost of MQ-MAX is
15 paisa per day for power equivalent to a zero watt bulb.
MQ-MINI, the low intensity mosquito trapper, is priced at
`1,500 (US$ 25.61) and is suitable to be used in houses and
flats where mosquito density is low. The operating cost of
MQ-MINI is 5 paisa per day for power equivalent to 3 watts.
The products have longevity and last for more than 10
years unless physically damaged. Noronha says that the
replacement cost of parts would be negligible even after five
years of regular use.
Discussing the details of MozziQuit, Noronha explains,
“Food grade proprietary additives are added to the plastic
raw material, among the few components, while producing
them through injection moulding machine. These additives
in combination with light and temperature equivalent to
body temperature which are generated by the MozziQuit,
attract mosquitoes towards the trapping zone of the device.
Once mosquitoes get attracted and start flying near the
trapping zone of MozziQuit, they are vacuumed into the
removable collection container through the instant killing
zone of perforated holes. The dead mosquitoes are then
collected in the removable collection container and can be
disposed.”
The process patent for MozziQuit was granted to Noronha
in May 2010. He has also received 11 Design Registration
Certificates since 2009, which have been granted by the
Indian Patent, Designs Trademark office.
Though MozziQuit is yet to become a household name
like other smaller commercial mosquito related products,
Noronha has found considerable commercial success and is
in the process of scaling his enterprise.
In Mangalore, as he claims, “Assistant Director of
Veterinary Hospital/Animal Husbandry has issued a
validation report confirming trapping of thousands of
mosquitoes every day resulting in increase in milk yield
as the cows get enough rest at night without mosquito
menace.” This certificate was issued after testing MQ-MAX
at various locations in and around Mangalore under the
supervision of veterinary doctors and senior medical
inspectors.
“We have completed test market on both the models,” the
innovator adds, “and in fact, MQ-MINI has been redesigned
based on the feedback received from the test market.”
Bolstered by the test market reception, Noronha is gung-
ho about the next phase of the MozziQuit journey—the large
scale commercial launch. “We expect to supply more than 10
million units in India to all the cow owners/farmers through
the membership network of dairies at subsidised price as
the central government is ready to release subsidy amount to
all the states to support increase in production of milk,” says
Awards
Accolades
• Gold Medal Award in DST-Lockheed Martin India Innovation
Programme 2010
• ISA Best Electronic Product of the Year 2010 in the health-
care category
• Approval issued by National Institute of Malaria Research
after testing MozziQuit
• Validation from Assistant Director of Veterinary Hospital/Ani-
mal Husbandry after testing MozziQuit
• One of the six finalists in Samsung Innovation Quotient Sea-
son 2 held on August 17, 2012
• One of the 12 contestants of Bloomberg UTV’s business real-
ity TV show Pitch for `5 crore (US$ 0.85 million)
M o z z i Q u i t I nnovation Corne r

Living Legacy: (Top) A
complete meal of paranthas,
pumpkin, homemade
pickles, chutnies and raita;
(Left) the oldest restaurant;
(Below) The gali has an
efficient ecosystem.
More than
Just Paranthas
Taste a slice of history along with
scrumptious paranthas here. By binita singh
T
here is an eponymous film dedicated to its essence and aroma.
It has been covered by international press like The Wall Street
Journal. Celebrities—Indian and foreign—make it a point to
drop in here for a taste of the famed cuisine. Yet, residents
here are as indifferent to the tinsel and glare of media flash-
bulbs as they are to the constant humdrum of life surrounding them.
Welcome to Paranthe Wali Gali or Gali Paranthe Wali, the
gourmet destination of all foodies, tourists and travelers look-
ing for a taste and feel of authentic Delhi. The ‘Alley of Flat-
breads’ as it has been nicknamed for the English speaking audi-
ence, is a treasure trove of aromas and historical flavours.
Tucked away in one of the nooks of the walled city, off the main street, you
may pass it by but for the mouthwatering aromas wafting out of the alley.
For this culinary journey of discovery it makes sense to ditch motor trans-
port and take a walk down the crowded streets
of Chandni Chowk. This is where Old Delhi
really lives, as does the true essence of India.
Walk down the Shri Digambar Jain Lal Mandir,
Gauri Shankar temple and Sisganj gurdwara—
all heritage sites that you can explore—you
will be guided by your nose and the amused
smiles of the hawkers, rickshaw pullers and
auto drivers to whom you throw your query
for direction to the narrow alley. At the corner
is a famous sweet shop, stocking the famed
Karachi Halwa and Sohan Halwa of Delhi.
As you walk down the narrow lane, wide
enough for one way two wheeler traffic that
arts
culture

F o o d art s and culture
often whirrs past just inches away, you can see
the shack like restaurants tucked chock-a-block.
There is the odd sari shop, but by and large the
lane is home to the eponymous paranthas and
lassi, rabri and malai khurchan shops. The lat-
ter two are famous milk based sweets served as
desserts to polish off your heavy parantha meal.
Along with the lassi, they add to the gastronomic
delight of the mouthwatering paranthas.
The parantha, a fried, flat wheatbread, is part of
every Indian cuisine. A household staple, many
mornings, especially in north Indian households,
begin with a sumptuous breakfast of stuffed
paranthas, especially in winters, topped with a tall
glass of lassi. What then is the secret ingredient
of the Paranthe Wali Gali that makes this humble
staple a world favourite remains a mystery.
Perhaps, it is not just the parantha but a slice
of history that is served along with it that makes
the taste so unique. The paranthawalas who
hail from Bhind in Madhya Pradesh, have been
living here for the last six generations in most
cases. There is no written history of the gali,
but the oral history, along with the delicious
recipes, has been passed down generations.
Ravi Sharma is a student of English at Ramjas
College, University of Delhi. “I am the sixth gen-
eration in this business,” he proclaims proudly
as he takes up the platform just vacated by his
father. It is just past 4 pm. Nicknamed ‘Paran-
tha’ by his friends, Ravi says this is his routine.
“Every day I come at around 4 pm from college
and relieve my father.” He has been coming to
the shop through his teenage years and would sit
with his father, Suresh Sharma, to get a feel of the
place. Speaking fluent English, while handling
customers and the staff with equal finesse, Ravi
displays a maturity beyond his age. The softspo-
ken youth has also learnt the family trade and can
dish up a mean parantha. He smiles, “I am proud
to be a part of one of the most famous streets in
Delhi.” He has grown up on the stories of past
glories of Chandni Chowk. “My father spoke
about a tram that used to run here,” he says. Even
at this late afternoon hour in May (there was
an unexpected duststorm and drizzle), there is
Taste of India: With
around 40 varieties of
paranthas to choose
from between the
three shops to the
accompaniments of
vegetables, chutnies
and pickles—all made
with family recipes—the
lassi from the next door
stores to wash the
food down and yummy
malai kurchan or rabri
as the sweet finale to
the meal, there is really
a royal choice awaiting
in Paranthe Wali Gali. It
is a cultural awakening
of the taste buds.
The paranthawalas
fear no competition
from either kin or
others. Working with
recipes perfected
down generations,
all their preparations
are in desi ghee, and
the shops have a no
onion-garlic policy.
City of Paranthas
If Hyderabad has its biryani,
Bihar its litti chokha, Mumbai
its pao bhaji, what does
Delhi, the capital of street
food, have? Sorry, it's not the
dahi bhalle or gol gappe but
the ubiquitous paranthe that
make Delhites roll up their
sleeves at a roadside stall
for a hearty meal. Be it the
Ganga Dhaba of Jawaharlal
Nehru University, a legend
for the lip-smacking aloo
paranthas and egg bhurjis or
the Moolchand Paranthewala
at the corner of Vikram
Hotel behind Lady Shri Ram
College; each corner of Delhi
boasts its own paranthewala.

art s and culture f o o d
a rush of customers, which according
to Ravi is low. “In winter there is a big-
ger rush.” It includes foreign tourists
and often Indian celebrities, he laughs.
“Ranbir Kapoor and Sheila Dikshit have
come here. Vidya Balan also came.”
Though Pandit Babu Ram Devi
Dayal Parathe Wale (sixth gen-
eration) are also in the business of
electrical goods, for Ravi, his heart
resides in Paranthe Wali Gali.
The street gained mindshare in the
Indian consciousness with Indian film
actor Akshay Kumar’s revelation of
having spent some years of his life on
the street and his extreme attachment
to it. While his film Chandni Chowk to
China used a recreated Gali Paranthe
Wali, Vidya Balan, Cyrus Broacha
and Salman Khan could not resist the
temptation of a slice of the real thing.
On the walls of Pandit Gaya Prasad
Shiv Charan’s shop hangs a framed
photograph of famous political per-
sonalities—Pandit Jawaharlal Nehru,
Indira Gandhi, Babu Jagjivan Ram and
Vijyalaxmi Pandit sharing a table and a
meal of paranthas. Former Chief Minis-
ter of Delhi, Sheila Dikshit, is also being
served in another photograph. Pandit
Babu Ram Devi Dayal Parathewala
has played host to former Prime Min-
ister Lal Bahadur Shashtri, whose
photograph adorns their shop wall.
Suresh Sharma is candid. “We
don’t know much about history and
only remember what we were told by
our past generations. We are reap-
ing the benefits our elders’ efforts.”
The efforts started in 1872 with Pan-
dit Gaya Prasad, who left his home
in Tehsil Bagh in Agra in search of
work and came to Delhi. He set up a
shop in a lane entering Kinari Bazaar
in what was then known as Dariba
Kalan and started serving his mouth-
watering paranthas. Soon enough his
fame grew so wide and his clientele
so huge that he had to seek help from
his brothers. The business spread in
the lane with the brothers opening
separate shops, all serving paranthas.
Originally there were around 18 shops,
of which only three remain today. But
the fame has refused to die down.
“We are all from one family… all shops
are owned by relatives here. There are
18 shops of one extended family but
not of paranthas. They are into other
businesses now,” says Suresh. “We
are 42 brothers,” he continues adding,
“Some are into milk business, some
run hotels; but making paranthas is
in our blood,” he gives a loud laugh,
twirling his thick mustache. People call
him Panditji as they do the other older
generation paranthawalas around.
The shop of Pandit Gaya Prasad Shiv
Charan (sixth generation) was estab-
lished 1872. It is claimed to be the first
among the surviving lot. Anil Sharma,
of the current generation, was busy
roasting the paranthas, oblivious to
the heat. “My grandfather belonged
to Madhya Pradesh. Of four brothers,
he was the one to come here as there
was no work in the village. He estab-
lished the shop,” he recounts. Anil
concedes that he does not have much
knowledge of family history. Refus-
ing to disclose financials, he said, “We
receive 200–300 customers on an aver-
age, enough to sustain our family.”
He does not know about the future of
his legacy. “My children are not inter-
ested in the shop. They have opted for
other careers.” He shrugs philosophi-
cally and smiles. Despite the fame and
other people trying to capitalise on
their famous format and recipes (Mela
restaurant, UK, and Only Paranthas of
Mumbai among others), they have not
thought of opening a branch in a more
posh New Delhi locality. The reason,
as Anil says is, “The high rentals.”
Jai Hind Paratha Bahwan was estab-
lished in 1875 by Pandit Kanhaiyalal
Durgaprasad. He is Abhishek Dikshit’s
“dadaji’s dadaji”. Dikshit has never
thought of venturing into another busi-
ness. Busy rolling out paranthas, this
fifth generation paranthawala is unsure
if his children will carry on the family
business. Dikshit’s elder brother chose
to settle down in London. A Delhi Uni-
versity graduate, his day begins at 9 am
and ends at 11 pm, only after the last cus-
tomer is served. The Dikshits are from
Uttar Pradesh unlike the Sharmas of the
other two parantha restaurants, though
they are all related, as Suresh claimed.
The turnover of Dikshit’s shop is `36
to `50 lakh annually. Talking about
customers he says, “Earlier they were
mostly businessmen, but now it’s a
mixed crowd.” Asked if the staff too
are legacy, Dikshit says, “Each of the
shops has only five to six impermanent
staff.” Yet, all the shops are doing well.
As he says, “Customers choose their
shops.” It’s the aromas that help.
Love in the Food Street: Paranthe Wali Gali, the film, captures the essence of the eponymous food street
through the eyes of the protagonists, especially the female lead who just loves the paranthas sold here.

s c u l p u r e art s and culture
India will be one of the fastest growing travel tourism
markets between 2013-23.
BooMing ToURiSM MARKET

A
s a little girl growing up in Gaya, home to the famous centre
of Buddhism, Bodh Gaya, I was intrigued by the Anglo
Indian population in missionary schools. They were from
some place called McCluskieganj, a place I believed to be in
Britain that was home to ‘foreigners’.
Recently, when I met a gentleman from the US who has been living in India
with his entire family for the past 14 years, it brought back a flash of childish
memories when he mentioned his home was in McLeod Ganj, Dharamshala.
The similarity in their names also set me on a journey of discovery—of McLeod
Ganj. The bonus was the summer weekend getaway’s proximity to Delhi.
Of course not much is in common between the two places except their
obvious prefixes. While McCluskieganj, now in Jharkhand, was an Anglo
Indian colony, McLeod Ganj, popularly known as Little Lhasa, a village in
Discovering
Tibet!
A visit to Little Lhasa or McLeod
Ganj is enriching. By binita singh
the suburbs of Dharamshala, is situated in the
hilly terrains of Kangra district in Himachal
Pradesh and is a popular Tibetan colony.
Choosing not to miss out on the scenic drive to
Himachal Pradesh, we boarded the bus at Majnu
ka Tila in North Campus, Delhi, which inciden-
tally is a Tibetan hub. If inclined you may even
board the twice daily flight from Delhi or catch
the daily train. While the about 12 hours’ bus ride
took us directly to the tiny hamlet nestled in the
lap of the Dhauladhar range, a ridge of southern
update Colour Coordinated:
One of the newer
Buddhist monasteries
to add to the Tibetan
cultural ambience
at McLeod Ganj.
Prayer Notes: Prayer
wheels at McLeod
Ganj monasteries
are as a ritual turned
daily by the monks.
Picture Perfect:
A view of one of the
streets in McLeod
Ganj that is among the
many vantage points
providing a picturesque
view of the village.
Tourism
McLeod
ganj
photos:Abhishekbali

M c L e o d G a n j touri sm update
outer Himalayas, the air route leads to Daggal, a
town near McLeod Ganj. There are more than 10
trains that will take you to Chakki Bank, a small
station near Pathankot, from Delhi. This is the
nearest point to the village via railroad.
McLeod Ganj is a suburb of Dharamshala, the
main township of Kangra district. As we neared
our destination, the sight of the picturesque snow
clad peaks of the Dhauladhar ranges framed
against the blue sky acted as the perfect antidote
for our tired bodies and jaded urban eyes. Unbro-
ken yards of green fields, tall rows of dense pine,
thick deodar forests and white rivulets of numer-
ous streams form a picture postcard scenario—the
whole area exudes a dreamlike calm and freshness.
Take a deep breath—can you feel the difference?
The fresh mountain air is uniquely scintillating.
Situated in what is known as the upper
Dharamshala (1,830m), McLeod Ganj is bus-
tling with life yet serene and calm. In the upper
recesses at 1,770m is the residence of His Holi-
ness, The Dalai Lama. The lower Dharamshala
(1,380 m), in contrast, is a busy commercial hub.
Make your way to one of the many budget
hotels, homestays or guesthouses tucked into the
narrow alleys depending on your purse and taste.
Most offer clean, tastefully furnished accom-
modation with views to refresh the soul. Worth
mentioning for a stay are the Tibetan themed
ones that resonate with its culture. From décor to
hospitality, all have a distinct flavour and bring
Little Lhasa a little closer to the visitor in spirit.
For a short weekend jaunt, it’s going to be a
packed schedule. As the bus reaches early in the
morning, you can make a head start after a bath
and hearty breakfast or head out to the popular
bakeries or cafés after freshening up, for a
first luxurious look of the Kangra valley over a
leisurely breakfast. You can take your pick from
over 40 restaurants, cafés and bakeries that dot
this place. While on food, and if you are a fan
of the factory made momos that have become as
natural to Delhi as its dahi bhalle, do try delica-
cies like chetze, thukpa, kothe and of course
momos at one of the Tibetan eateries here for an
authentic taste of Tibet.
If by now your interest in Tibet has been
piqued further by the frequent sightings of
maroon robes on the streets, you would be natu-
rally inclined to drink in the peaceful ambience
of the Buddhist culture that somehow seems
so complementary to the serene natural sur-
roundings. Your feet, of their own volition, lead
you down the hill from the main square to Tsug
la Khang or The Dalai Lama’s temple, which
is central to the life of McLeod Ganj. A busy
place throughout the day—the Namgyal Mon-
astery and the shrine are situated within this
complex—it defies logic as it exudes peace and
calm while bursting at the seams with visitors,
devotees, lamas, monks, nuns and the residents.
Explore the temple, check out Ling Khor, the
long meditation trail, and hang a prayer flag
or two beside the thousands of colourful ones
already swaying in the breeze on the hillside.
If you plan to do all things Tibet first in Little
Lhasa, take a spiritual and educational tour to
deepen your knowledge of their unique culture.
Head to the Tibet Museum situated beside Tsug
la Khang. The Library of Tibetan Works and
Archives is another treasure trove of Tibetan
literary works, barely 20 minutes down the hill
from Tsung la Khang. It is located at Gangchen
Kyishong, right in the centre of McLeod Ganj
and Kotwali Bazar. You can learn about the his-
tory of this land and its people from the ongo-
ing exhibition or riffle through the stacks of
reference books and photographs on the shelves
that take you on a pictorial reconstruction of
the history of Tibet. The library is a renowned
destination for scholars, historians and students
from across the world keen to discover Tibet.
For more detailed understanding of Buddhism,
stop over at Tushita Meditation Centre, a little
above McLeod Ganj, set amid the idyllic charms
of Dharamakot village. The village is located in the
midst of tall pine and rhododendron forests and
offers a bountiful view of the Dhauladhar range.
It is three km north of McLeod Ganj, and is a cen-
tre for the study and practice of the Mahayana
form of Buddhism. Norbulingka Institute
Festive Colours: The Dharamshala Film Festival at
Tibetan Institute of Performing Arts is a big draw.
Five Key
Highlights
McLeod Ganj has a place
for everyone. Here, a
foreign tourist plays the
didgeridoo on a village
street for some money.
The view of Mother Nature
from any point in McLeod
Ganj is of boundless
beauty, pristine pure.
Tibetan jewellery and
garments can be bought
at the local flea market.
Dharampur is 2 km from
McLeod Ganj.
1. Welcome All
2. Nature’s best
3. Knick Knacks
3. In Paradise
5. In Sync
A conversation
with the
monks
can be an
eyeopener.

touri sm update M c L e o d G a n j
Little Monks: A delightful sight
on McLeod Ganj roads are these
little monks in distinctive attire.
Prayer Time: For the elders of McLeod Ganj and its nearby villages, dusk is the time for
community evening prayers. They sit together in groups and pray wherever they are at the time.
123... That’s the name of this popular café, a
favourite haunt of tourists and locals alike.
should be your next stop for a detailed insight into Tibetan art and craft. It was
established with the specific purpose of preserving and propagating Tibetan
arts and crafts for posterity. You will need to spend a day here but it will be well
worth the effort. The performing arts of Tibet are a sensorial delight. You
can catch some rehearsals or even performances at Tibetan Institute for
the Performing Arts which trains students in opera, folk dance and music.
The institute was set up by the Dalai Lama in 1959.
You may want to pick up a few of the ancient Tibetan remedies from
Tibetan Medical and Astro Institute or Men-Tsee-Khang, located just
some distance down the road from Gangchen Kyishong. Don’t forget to
pay your respects to the martyrs at Namgyalma Stupa located in the heart
of McLeod Ganj. After a leisurely lunch, you can spend the afternoon at
Kangra Art Museum discovering the ancient history of Tibetan and Bud-
dhist cultures since the 5th century.
Your journey of discovery does not end here though. About one-and-a-
half hours’ drive from McLeod Ganj is Masroor Temple. Located atop a
hill, in its backdrop is the Dhauladhar range (snowcapped in winter) and
on the campus a beautiful pond. The temple is a group of 15 monolithic
rock-cut structures and is believed to have been built by the Pandavas in
the epic Mahabharata. It dates back to the 8th century. Another temple
that attracts visitors for its tranquil setting is three km from McLeod Ganj,
in Bhagsu Village. The eponymous temple with pools around it is a tran-
quil paradise especially with the 30-foot high cascading Bhagsu waterfall
as a backdrop during monsoon months. Pack a picnic brunch and stay
the day enjoying nature’s bounty. Amid the towering deodar forests some
3 km from McLeod Ganj is a small lake. This beautiful mid-altitude lake
(1,775 m above sea level) is near a graphically named and idyllic village
called Tota Ran. Do take a detour else you will miss out on one of the most
attractive spots in Dharamshala.
From here head on to Naddi village for some
time away from the hurly burly of McLeod Ganj
and relax in the heart of the Dhauladhar moun-
tains. Return rejuvenated for some trekking at
Triund, a 9,000 foot ridge behind the Dhaulad-
har range. Triund is 11 km from McLeod Ganj, at
an altitude of 2,827m. The snowline starts mak-
ing an appearance just 5km from Triund. Take a
deep breath and open your eyes to a world clad
in snow above you and in green beneath you. It
will leave you gasping.
There are other popular trekking routes,
but we will take the one two kilometers from
McLeod Ganj to just below it near Forsyth Ganj.
It is here that Lord Elgin, the British Viceroy of
India (1862–63) lies buried under the St. John
Church in the Wilderness. The place, a little
beauty amid the deodar groves, hides an impor-
tant bit of the history of India beneath its soils.
Discover it on your stroll.
There are many other treasures to be explored
in this little village-town. But before you depart,
remember to visit Nowrojee and Sons General
Store. It has the history of McLeod Ganj run-
ning through its veins for the last five genera-
tions. Catch up with the history here.

M c L e o d g a n j touri sm update

Roadmap of Sustainable
DevelopmentDrishtee’s vision
of an impactful social enterprise guides
its unique endeavours at the grassroots.
By Sangita thakur varma
D
rishtee, a word
meaning vision
in Hindi, has far
reaching connota-
tions. Drishtee,
the social enterprise for sustain-
able communities, also displays
a vision whose ambit spreads
beyond the immediate to the far
off in the future. So what is this
vision that drives Drishtee?
Siddhartha Shankar, President,
Strategy Business Development,
Drishtee, explains, “The main
objective of Drishtee is to try and
create an impact. There are two
ways by which you can do this—
by creating savings, and there can
be significant savings which are
possible—and the other way is
to create incomes. We now focus
on the latter that is creating liveli-
hoods. To do that there are many
things that you have to do along
the way; one of the things you
look at is creating accessibility.”
Drishtee’s approach towards
rural development hinges on
identifying and creating a number
of milkman routes in a district
through which it caters to a mini-
mum of 20–25 villages by creat-
ing an ecosystem of microenter-
prises run by rural entrepreneurs
with focus on women.
The foundation of Drishtee
is thus built on the principle of
sustainability. It was not that the
founders had a bright idea and
floated a huge outfit pumping
in millions of dollars. It was, in
fact, an evolutionary process, built
brick by brick, through a process
of hits and misses. The founders
went to the grassroots for their
lessons and improved and built
on the basic premise, learning
from their mistakes.
The social enterprise was floated
by three youths around the year
1998-99—Satyan Mishra, Nitin
Gachhayat and Shailesh Thakur—
who decided to get into entre-
preneurship rather than take up
regular jobs.
Satyan, Co-founder and Manag-
ing Director of Drishtee, is an
Ashoka fellow and an MBA in
International Business from Delhi
School of Economics. Mishra, who
is rooted to his rural Bihar back-
ground, was nominated as the
ZDNet Asia’s Technopreneur of the
Year later in 2006 and presently is
a member of international forums
like Clinton Global Initiative and
Young Asia 21 Forum of Rockefeller
Foundation.
Thakur, a graduate of Delhi
University, leads the new business
team as Chief of New Ventures of
Drishtee, while Gachhayat, with an
MBA from FORE School of Man-
agement, is the Strategic Thinker
and Chief of Functions, and has
been mainly involved with the
functional teams responsible for
developing new services and appli-
cations for rural India that can then
be sold through Drishtee and other
kiosk networks.
Satyan Mishra
co-founded
Drishtee with
Nitin Gachhayat
and Shailesh
Thakur in 1998-
99. Managing
Director,
Drishtee, he is
an Ashoka fellow
and an MBA
in International
Business from
Delhi School of
Economics. He
was nominated
ZDNet Asia’s
Technopreneur of
the Year in 2006
and is presently
member of
Clinton Global
Initiative.
RURAL
update

D r i s h t e e RUR AL UPDATE
Shankar throws light on the
trio’s unusual choice: “All the
three had rural connect and pas-
sion.” They got their first major
assignment from the district col-
lector of Dhar in Madhya Pradesh.
The project concerned digitisation
of the records of the district and
implementation of the govern-
ment’s Government to Citizen
Services (GTOC). “This meant
that they had to go to villages,”
adds Shankar.
They did not have enough
money, young as they were, to
start on a massive scale. So they
went to villages and tried to find
entrepreneurs whom they could
train for the project. They found
school dropouts and after elabo-
rate research selected boys who
had passion to serve. They trained
these people and explained the
commercials to them—they
would keep 20 per cent of all
earnings and 80 per cent would
go to the village entrepreneurs
they trained. Very soon the ser-
vices commenced.
“The trio realised very quickly
that they were creating a huge
value for the people of the village,”
says Shankar. He explains, “To
get simple certificates like a birth
certificate, the transaction cost is
tremendous for the villager who
also has to stop his work for some
days. If you provide him such ser-
vices for a fee, it saves him a lot of
money and pain.” Soon these ser-
vices became popular and gained
recognition. It was also a sustain-
able service model because there
were a number of villages requir-
ing similar services.
“If it is sustainable it is repli-
cable,” says Shankar. Word spread
and Drishtee began getting invita-
tions from other districts.“That
is why I call it the first phase of
evolution of Drishtee. It was the
phase of e-governance.”
Shankar points to a key problem
in the rural sector: “One of the
significant issues in villages is
access—to education, to health,
to opportunity, to information,
etc. To create access you need
to leverage tools like technology.
That is the reason why technology
plays a critical role for Drishtee.”
E-governance became a very inter-
esting area, says Shankar. “It was
a unique kind of e-governance. It
was initially called GTOC.”
The second phase of Drishtee’s
evolution involved the realisation
that the sustainability of their
e-governance project was on
shaky grounds as bureaucratic
transfers meant the end of the
project in that particular district.
“We found interesting entre-
preneurs in villages, some in a
remote village who clicked photos,
printed them in dot matrix and
sold each for 50 paise,” reveals
Shankar. From this realisation
sprouted the next phase of evolu-
tion that involved digital photo
studios. Drishtee encouraged vil-
Towards Holistic Empowerment: Drishtee believes
in sustainable development whereby both the rural
people and the organisation are able to work out a
model of transformative and continuous growth.

RUR AL UPDATE D r i s h t e e
lage entrepreneurs to use digital
cameras and ink jet printers. Now
someone needing a passport size
photograph did not have to go to
town. But a bigger realisation for
the organisation was the need
for its own sustainability. “We
realised that entrepreneurs’ sus-
tainability was imperative; and
for Drishtee to be sustainable, the
entrepreneurial chain had to be
sustainable. This photo initiative
was one of the measures,” says
Shankar.
Digital photo service, though
reasonably successful, did not
translate into a revenue sharing
enterprise model for Drishtee.
But there were small entrepre-
neurs who gave village children
basic computer education. Soon
Microsoft came forward to partner
with Drishtee. “We started teach-
ing computers to youth in villages
and that’s the historic connection
with IT,” says Shankar, adding,
“We must have trained 60,000 to
70,000 students by now.”
The Microsoft experience gave
them the realisation that Drishtee
could be the platform for many
private sector services. The next
phase was the telecentre and
kiosks phase of Drishtee. “We
ensured there were private servic-
es, education photography, book-
ing of tickets, etc. ICICI came
forward and gave loan to our
entrepreneurs. There were many
services which each of these
entrepreneurs could offer and
these were services needed and
desired by the community and led
to savings for the farmers. This
became a sustainable model and
impressed the government.”
The Drishtee model came
to be known as the common
services centre and was later
integrated with the government’s
e-governance initiative. However,
Drishtee perceived the danger of
becoming a subsidy model in this
scheme of things.
Shankar, who has been with
Drishtee for eight years now also
joined around this time. He had
left his corporate job of 24 years
with ACC in search of a more ful-
filling experience. His stint with
United Nations too had left him
dissatisfied. While working on
rural marketing for ACC he had
met Satyan and the latter invited
Shankar to spend some time
in the village. “The experience
humbled me and I decided to join
Drishtee,” says Shankar, adding “I
haven’t looked back since.”
At this point Drishtee got into
introspection mode with profes-
sional help pouring in. Shankar
calls introspection the hallmark of
Drishtee. The group realised that
they needed to be a rural based,
dense organisation with a large
number of services and prod-
ucts. As this new line of thinking
dawned, they started linking up
the kirana stores in remote villag-
es to create a hybrid supply chain
of services and products. This led
to the third phase of growth—the
Drishtee
partners with a
number of public
and private sector
organisations
like the State
Bank of India,
TCS, Clinton
Global Initiative,
International
Finance
Corporation,
RICOH, National
Skill Development
Corporation,
IFMR Trust,
Ministry of
Panchayati Raj,
Nestle India,
Nike Foundation,
Ministry of Rural
Development,
Novartis,
Oiko Credit,
Visionspring,
ACC Ltd, etc.
endeavour to optimally utilise
services. “We targeted three
ubiquitous services—computer
education, financial inclusion
and health.” Another round of
introspection at this point made
Drishtee realise that their plat-
form was creating small impact
for a large number of people as
they were becoming a platform
for partner companies. This gave
birth to the 4C model where the
big C is the community and the
three Cs in the circle that connect
to form the triangle are—capacity
for capacity building of the com-
munity; channel for linkages for
an enterprise to survive and capi-
tal to inject into the enterprise.
For now Drishtee is focussing
on being a dense enterprise to cre-
ate maximum impact in the areas
where it operates. From building
a rural BPO, a haat for rural prod-
ucts to tying up with e-commerce
gateways like Jabong, Drishtee
is working with a clear vision
for holistic empowerment of the
rural people in various parts of
India in its focus areas.
Building Ecosystem: Drishtee works towards
developing a rural entrepreneurial system that is self-
sustaining and scalable in the long run and allows more
micropreneurs to join the mainstream.

BOOKsHELF
About the
Author
Author:RashmiBansal
Home Calling A book
that celebrates small town India.
by sangita thakur varma
“Country roads take me home
to the place I belong…” John
Denver immortalised West Vir-
ginia with this hit song in 1971.
But he did more than that. His
folkpop song evoked nostalgia
in the hearts of the many small
town folk who had migrated
to big cities in search of suc-
cess. Rashmi Bansal, whose
book title uses part of Denver’s
song, effectively strokes the
same feeling of yearning for the
country home in our hearts.
Take me Home on the surface
is “the inspiring story of 20 entre-
preneurs from small town India
with big-time dreams”. Scratch
below it and you find layers of
meaning hidden between the lines.
Let’s start with Bansal’s note at
the beginning of the book. How
many of us who hail from Patna or
Patan, Ratlam as in Bansal’s case or
Ranchi, Koduvally or Kasganj and
the many small towns and cities of
India, have not felt a little ashamed
of our roots among our polished
metropolitan counterparts?
That was perhaps also when
we were young and awkward,
businesses in their home soil
and today the branches of these
enterprises are spreading across
the country and the globe. There
are lessons to be learnt from the
struggles of Chandubhai Virani,
the wafers man, who started out
as a canteen boy in a cinema
hall and built a business of chips
and namkeen in Rajkot that com-
mands 65 per cent market share
in five states. Jaipur Rugs, India’s
biggest carpet exporter of hand
knotted carpets that employs
40,000 weavers, had a humble
beginning with two carpet looms
and a few weavers from margin-
alised communities in Churu in
Marwar. Nand Kishore Chaud-
hary is today a globally renowned
social entrepreneur. The story of
Parakramsinh Jadeja of Rajkot, a
school dropout and a budding
sportsman who gave up his ambi-
tion in face of family hardship
and today is the owner of the
`1,000 crore (US$ 170.77) Jyoti
CNC, is a lesson in determination,
honesty, passion and dedication.
So are the others in this section.
In recent years, there has been
fresh out of our cloying restric-
tive backgrounds, drunk on the
heady freedom of a westernised
culture and ready to deny our
own reality. Today, as Bansal
feels, many of us have come to
realise the value of our suburban
upbringing, and perhaps secretly
love and yearn like Denver…for
country roads to take us home.
Bansal’s book is a reiteration of
all the values that you find in the
interiors of India—a celebration
of our cultural heritage. Here
there is no tinsel, no false show,
only hard work, grit, passion
and a hunger to do something.
Through the stories of these 20
entrepreneurs, Bansal is also
demonstrating an economic fact
about India that the world is
taking note of—that real India
lives in its countryside, its small
towns and cities. The tide is
finally turning, as she says.
The first section of the book
is the story of the Sons of the
Soil. These are the individuals
who never felt the urge to leave
home in search of glory. They
set the roots of their humble
Rashmi Bansal
is the author of
five bestselling
books targetted
at young
entrepreneurs
and startups.
Over one million
copies of her
books are in print
and have been
translated into
10 languages.
A writer,
entrepreneur
and youth
expert, Rashmi
is a mentor and
motivational
speaker to
students
and young
entrepreneurs.
She is an
economics
graduate from
Sophia College,
Mumbai and
an MBA from
Indian Institute
of Management,
Ahmedabad.
“Close your eyes and
remember your roots.
You may hear the
whisper...take me home.”

Bookshe lf T a k e M e H o m e
a surge in NRI returnees setting
up businesses in their home
towns. Bansal gets up close and
personal with a few of these
natives and tries to discover the
motives behind their returning
to the motherland in the sec-
tion Return of the Native. For the
returnees who have studied in
the finest institutions abroad
and worked with the best global
companies, it was swadesh call-
ing, a call hard to ignore. Deepak
Dadhoti answered this call
believing in his father’s favourite
quote: “Janani janambhoomi
shachaswarga dapigariyasi (mother
and motherland are greater than
heaven)”. The engineer by train-
ing set up Servocontrols India
in Belgaum, Karnataka, and is
a key supplier of critical compo-
nents to Indian aerospace and
defence. Integra is the story of a
couple who built their outsourced
e-publishing business with just
one computer in Puducherry.
There are stories of Sandeep
Kapoor who left his high paying
corporate job to return home to
Jodhpur and build a business of
perfumes and of Rohith Bhat of
Udupi who has built a `35 crore
(US$ 5.98 million) IT company
in this small town. For the global
Indians returning home it has
been a time of reckoning and
deep introspection, but the call
of the homeland prevailed.
The last section is on the good
men and women in India’s small
cities who have put the interest of
society over personal good. There
are people in small town India
who have a revolutionary take on
life and its mission, much like
A Muruganantham of Jayshree
Industries—thinker, philosopher,
inventor. He is the inventor of
a machine that manufactures
low cost sanitary napkins and
has brought relief to women
across India. Dilafroze Qasi,
who struggled to get a decent
job herself despite her degrees
and certificates, ensured qual-
ity engineering education for
women in Kashmir by setting up
the SSM College of Engineering
and a polytechnic for women
in Srinagar. A campus startup
in Kochi is working on a startup
village to fulfill entrepreneurial
dreams of those like them and
hopes to create a Silicon Coast
in India. It is their dream that
one day as the sun sets at dusk
in Silicon Valley it will rise at
dawn in Silicon Coast in India.
Impossible you may say, but
read the book to find out how
dreams are coming true in small
towns of India. Bansal has kept
the narrative simple with a
liberal sprinkling of Hindi. The
ploy adds an authentic touch
to the stories, for small town
India is not home to the English
speaking, blow dried hair crowd,
but the cousins, aunts and
uncles of whom Bansal speaks,
with oiled hair and speaking
Hindi or the local language.
While the story of each entre-
preneur itself is inspirational for
Gen-Y and an India in the grip
of an entrepreneurial wave, what
adds to the content is the short
postscript appended at the end
of each story. It is much like the
‘moral of the story’ that comes at
the end of the famous Panchat-
antra tales. In Bansal’s book, the
hero of each tale himself provides
a piece of Advice to Young Entre-
preneurs. From Nand Kishore
Chaudhary comes the basic gem
to get one started on the entre-
preneurial journey of self reflec-
tion: “Before you start anything,
understand yourself. What kind
of work do you enjoy and is that
kind of work needed by others? If
yes, you can start that enterprise.”
With this nugget from one
of the “few good men” that
Bansal introduces in the book
you can ruminate on your
crucial startup project before
you decide to take the jump.
Did we hear someone say that
dreaming is what foolish people
do? Well here is a piece of advice
from one of the most successful
natives who returned home to
set up one of the top 10 pub-
lishing BPOs worldwide. “We
must first start dreaming. Have
dreams both in your professional
life and personal life,” advises
Sriram Subramanya of Integra.
Take these sermons and a
journey down memory lane
with Take Me Home, a book
that tugs at the heartstrings.
A good read indeed!
Book
Excerpts
To my surprise
and delight,
I discovered
Robosoft. An
IT company
headquartered
in Santhekatte
(New Udupi)
but thinking and
acting like this
was Bangalore.
Serving global
clients, creating
innovative apps
and games.
Hungry and
foolish and
confident about
achieving much
more.
To any young
man from a
‘middle class’
background, the
world of business
looks like an elite
club. You can peer
over the hedge
and observe the
party....There is
only one way to
join the party –
gatecrash it.
In recent years there has been a surge
in NRI returnees setting up businesses
in their home towns. Bansal gets up
close and personal with a few of
these to discover the motives behind
their returning to the motherland in the
section Return of the Native. For the
returnees...it was swadesh calling, a call
hard to ignore.

T a k e M e H o m e Bookshe lf
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business, industry and economy. The website also offers daily
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