India’s Influential Men Leaders Making Waves in the Business- 2024

www.ciolookindia.com

INDIA Disruptive Visionaries How Startups and Unicorns Led by Visionaries are Transforming India's Business Landscape?

Vol 02 Issue 07 2024

India's Influential

Making Waves

in the Business- 2024

Power Players Unconventional Leaders Challenging the Business Status Quo in India

CocoGreen Substrates – Crea ng Eco-Friendly Growing Media for the Global Agri-Hor -Flori Sustainability

Dr Balachandar G CEO Cocogreen Substrates

India's Influential

Making Waves

in the Business- 2024

Editor's

Note

TRANSFORMERS OF THE 21ST CENTURY BUSINESS LANDSCAPE

I

n the dynamic and ever-evolving landscape of Indian business, there exists a cadre of influential men leaders who continue to shape and redefine the trajectory of economic growth and innovation. These leaders, through their vision, determination, and strategic acumen, are not only driving their respective organizations towards success but also leaving an indelible mark on the broader business landscape of the nation. At the helm of various industries, these men leaders exhibit a diverse array of skills and expertise, ranging from technology and finance to healthcare and manufacturing. Their leadership extends beyond the boardroom, influencing policy, inspiring entrepreneurship, and championing social responsibility initiatives that positively impact communities across India. In social engineering, dynamic leaders are driving innovation, efficiency, and sustainability in traditional and emerging sectors. Their commitment to quality, innovation, and responsible business practices is not only driving growth but also contributing to India's position as a global sustainability powerhouse. In the realm of technology, visionary leaders are harnessing the power of innovation to drive digital transformation and reshape industries. In the financial sector, stalwart leaders are navigating

through the complexities of a rapidly changing economic landscape, driving growth, and fostering financial inclusion. Their strategic initiatives in banking, investment, and wealth management are laying the groundwork for a more resilient and inclusive financial ecosystem in India. These influential men leaders are not only shaping the business landscape of India but also serving as role models and mentors for the next generation of leaders. Their leadership, vision, and dedication to excellence serve as a testament to the spirit of entrepreneurship and innovation that defines the Indian business ecosystem. As India continues its journey towards economic growth and development, the contributions of these CIOLook ‘India’s Influential Men Leaders Making Waves in the Business- 2024,’ will remain instrumental in shaping the future of business and driving positive change across industries. Their leadership, resilience, and commitment to excellence serve as a source of inspiration for businesses, entrepreneurs, and aspiring leaders alike, as they navigate through the challenges and opportunities of the 21st century business landscape.

- Gaurav PR Wankhade Managing Editor

Cover Story

CocoGreen Substrates – Crea ng Eco-Friendly Growing Media for the Global Agri-Hor -Flori Sustainability

08

CONTENTS CA Ni n Mi al The Most Effec ve Financial Innovator and Accoun ng Revolu onary

20

P

16

Sunil Raina Making Waves Beyond Smartphones with Lava Interna onal

Jeet Chakarborty Guiding Companies Through the Complexi es of the Digital Realm via iLosung

24 32

R

O

F

I

L

E

S

ARTICLES Disrup ve Visionaries How Startups and Unicorns Led by Visionaries are Transforming India's Business Landscape?

28

Power Players Unconven onal Leaders Challenging the Business Status Quo in India

FOLLOW US ON

LOOK INDIA

www.twitter.com/ciolookindia www.facebook.com/ciolookindia/

www.ciolookindia.com

Pooja M. Bansal

WE ARE ALSO AVAILABLE ON

Editor-in-Chief

CONTENT

Managing Editor: Gaurav PR Wankhade Assisting Editor : Prajakta Zurale

DESIGN

CONTACT US ON

Email [email protected] For Subscription www.ciolookindia.com

Visualizer : Sandeep Tikode Art & Design Director : Rashmi Singh Associate Designer : Sameen Arif

SALES

Vice President : Swapnali Vasaikar Asst. Vice President : Tejaswini Whaval

Copyright © 2024 CIOLOOK India, All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from CIOLOOK India. Reprint rights remain solely with CIOLOOK India.

Sr. Team Leader : Suraj Gadekar BDE : Reetika Sharma TECHNICAL

Technical Head : Prachi Mokashi Technical Specialist: Rajeshwari Avhad Technical Consultant : Tanaji Fartade SME-SMO

[email protected]

February, 2024

Research Analyst : Renuka Kulkarni SEO Lead : Nikita Khadalkar

Cover Price: Rs.300/-

India's Influential

Making Waves

in the Business- 2024

Featuring

Company

Brief

Abhinav Thakur, Managing Director

Accurex Biomedical Pvt. Ltd.

With over 38 years of experience in this industry, Abhinav managed Accurex Biomedical Pvt Ltd is one of the top three producers of superior Clinical Chemistry Reagents and Urinalysis Test Strips in India.

CA Nitin Mittal, Founder and Partner

Nitin Mittal & Co.

CA Nitin Mittal is a Chartered Accountant leading Nitin Mittal & Co. as the best CA firm in India providing a comprehensive range of chartered accountant services.

Dr Balachandar G, Chief Executive Officer (CEO)

CocoGreen Substrates

Dr Balachander is a CEO of CocoGreen Substrates, headquartered in Sivaganga, Tamil Nadu, India, that helps growers around the world with providing high-quality growing medium.

Jeet Chakarborty, Founder and Managing Director

iLosung

Led by Jeet, iLosung specializes in delivering innovative technology solutions to businesses across diverse industries.

Sunil Raina, Managing Director

Lava International Ltd.

Sunil Raina has been with Lava for almost eight years, having held several leadership roles through his tenure, is now leading the company as Managing Director.

Bala CocoGreen Substrates – Crea ng Eco-Friendly Growing Media for the Global Agri-Hor -Flori Sustainability

Leave a legacy of impact, inspire others to dream boldly, and never forget the journey that led you to success. Your story has the power to ignite change and transform lives.

achan ar C

O V E

R

S T

O R Y

Dr Balachandar G CEO CocoGreen Substrates

India's Influential Men Leaders Making Waves in the Business- 2024

T

oday, the world grapples with colossal challenges: the climate crisis, food insecurity, polluted produce, and water scarcity. Yet, amid these daunting hurdles, visionaries like Dr Balachandar G, Chief Executive Officer (CEO) of CocoGreen Substrates, https://www.cocopeatpro.com/ , are crafting transformative solutions to the biggest problems faced by us in terms of the global climate crisis, how to increase worldwide food production, enhance the quality of agricultural produce by making it entirely pollution-free, solve water scarcity, and manage all the available resources sustainably. Through innovative, sustainable products like coco peat and its variety and diversity, India’s most influential leader, Dr Balachandar, isn't just rippling through the agricultural, horticultural, and floricultural industries; he's igniting a global awakening to the potential of sustainable resource management. Being a Leading manufacturer and supplier of 100% natural coconut coir, coco peat and coco fiber products. CocoGreen Substrates produces sustainable, environment-friendly and customer-oriented coco products/substrates for the professional horticulture/floriculture sector. The Pioneers of the Coir Pith/Coco Peat “With over six to eight production facilities, we can cater to our customers' demand in a reliable time. We have a production capacity of around 1200 MT per month,” says Dr Balachandar, who has 15 years of experience supplying Horticulture/Floriculture, and Farming/Landscaping applications globally. He adds, “We are one of the Pioneers of the Coir pith/Coco peat industry with wide presence in USA, Canada, Europe, Japan, South Africa, Chile, Korea and Mexico.” Dr Balachandar’s company ‘Ravi Bala Imports & Exports’ is a 100% family-owned business and has come a long way since its inception in 1994 through its commitment to excellence and innovation. He adds, “From 1994 to 2014, we have been exporting with the label of ‘Ravi Bala Imports & Exports’, a sister concern of CocoGreen Substrates. From 2014, we restructured to operate under CocoGreen Substrates with the diversification to meet varied requirements.” Nestled in the serene environs of Sivaganga, a locale renowned for its picturesque charm and verdant coconut trees lies the company CocoGreen Substrates’ primary factory. This locale, situated approximately 45 kilometers

from Madurai Airport in the southern expanse of Tamil Nadu, India, is the heart of the company's operations. On the Path to Sustainable Success Guided by the visionary leadership of Dr. Balachandar, CocoGreen Substrates has traversed a path of unparalleled success, marked by a comprehensive outlook and profound technical expertise in quality management and manufacturing. The organization's commitment to progress is evident through continuous technological advancements and investment in human capital, ensuring a competitive edge in the industry. With an emphasis on in-house quality control mechanisms and a well-organized export department, CocoGreen Substrates guarantees customers prompt deliveries and competitive prices, reaffirming its dedication to meeting global challenges head-on. Dr. Balachandar, at the helm of CocoGreen Substrates, emphasizes that the company's core strength lies in its profound understanding of customer needs, providing bespoke solutions for their coir requirements. The brand's 100% organic Coconut Coir products, manufactured in their Indian facility, enable CocoGreen Substrates to offer customers competitive pricing consistently throughout the year. The organization's commitment to understanding customer needs and delivering tailored solutions, coupled with its manufacturing capabilities, has solidified CocoGreen Substrates’ standing as a distinguished leader in the industry. Their dedication to quality, customer satisfaction, and competitive pricing underscores their unwavering commitment to excellence and distinguishes them as a leader in organic coir-based products.

Stay hungry for knowledge, humble in your successes, and resilient in the face of failure. The journey of entrepreneurship is as much about personal growth as it is about building a business.

Pioneering Agricultural Sustainability At the forefront of agricultural sustainability, Dr Balachandar's journey into the coco peat industry, catering to agricultural and horticultural applications, was ignited by a profound passion for cultivating sustainable practices and pioneering innovations. Reflecting on the genesis of his expedition, Dr Balachandar reminisces, “The vast potential for transformative impact within this domain spurred me to lend my expertise and vision.” Motivated by a deep-seated desire to introduce pioneering solutions, he aimed to effect tangible improvements in agricultural practices. Moreover, he aspired to immerse himself in an industry that perpetually evolves, playing a pivotal role in shaping the future landscape of global food production and environmental sustainability. Driven by an unwavering commitment to innovation, Dr Balachandar set out to revolutionize agricultural practices, recognizing the profound impact such innovations could wield in bolstering sustainability. His ambition to create meaningful change and embrace the dynamism of an industry poised for evolution fueled his resolve to contribute significantly. By integrating novel ideas and a deepseated dedication to environmental responsibility, he envisioned pioneering solutions that optimized agricultural productivity and championed ecological harmony. Embracing the challenge of steering agricultural sustainability forward, Dr Balachandar's vision embodies a commitment to fostering practices that nurture both the land and future generations. His unwavering dedication to innovation and sustainable agriculture epitomizes a steadfast pursuit of a world where agricultural methods coalesce seamlessly with environmental preservation, ensuring a harmonious balance between productivity and sustainability. Guiding Philosophy Behind Organizational Success At the heart of Dr Balachandar's led CocoGreen's triumph within the coco peat industry lies a guiding philosophy steeped in two fundamental pillars: sustainability and innovation. “Sustainability, as the bedrock of our operations, serves as a guiding principle, prioritizing ecoconscious practices and responsible utilization of resources,” he says, adding that this ethos permeates every facet of their endeavours, underpinning their commitment to tread lightly on the environment while making significant strides in the industry.

We aspire to become the driving force behind eco-friendly agriculture, cultivating a future where every harvest echoes the environmental harmony. He further adds, “Concurrently, innovation is an indispensable driving force propelling our journey.” It fuels their relentless pursuit of enhancing coco peat to cater to diverse applications, particularly agriculture, horticulture, and floriculture. This unwavering dedication to innovation is a catalyst, propelling us toward continuous improvement and evolution in coco peat technology. “We strive to stay at the vanguard of advancements, ensuring our products meet the evolving demands and challenges within these sectors.” This dual philosophy is the cornerstone of Dr Balachandar’s success story of CocoGreen Substrates, fostering a culture deeply rooted in environmental stewardship, perpetual improvement, and pioneering advancements. This commitment to sustainability and innovation not only defines his organization but also propels it toward a future where it leads the charge in shaping a more sustainable and technologically advanced coco peat industry. Uniquely Successful Positioning CocoGreen Substrates has etched its name in the coco peat sector by crafting a distinct identity founded upon innovative technology and an unwavering dedication to customercentric values. “These pillars serve as our Unique Selling Propositions (USPs), anchoring our position as an industry frontrunner, setting exemplary benchmarks, and delivering unparalleled solutions within the Coco peat landscape.” What sets Dr Balachandar and his team apart is their exceptional ability to navigate and anticipate market trends, swiftly adapting to changing landscapes. This agility lies at the heart of their sustained prominence, enabling them to proactively innovate in technological advancements and automation crucial for manufacturing Coco peat products. By perpetually evolving and integrating cutting-edge technologies, they continuously cater to the evolving demands of the market, reinforcing their leadership stature within the industry.

The fusion of innovative technology and a customer-centric ethos distinguishes them and fortifies our position as pioneers within the coco peat sector. “Our commitment to staying ahead of the curve, anticipating shifts, and promptly innovating has been pivotal in solidifying our unique and sustainable positioning in the industry.” This distinct stance ensures that they meet market demands and redefine industry standards, charting the course for sustainable growth and continuous innovation.

balance between operational efficiency and customer satisfaction by implementing streamlined processes and leveraging technology to enhance service delivery. “Additionally, our commitment to continuously gathering and analyzing customer feedback enables us to refine our operations in real-time, ensuring an exceptional customer experience.” This approach enables them to optimize their Coco peat production processes while consistently delivering high-quality products and services that meet and exceed their customers’ expectations.

Relentless Pursuit of Excellence Dr Balachandar’s influential leadership style is often recognized as a driving force behind CocoGreen Substrates' achievements. He shares that his leadership approach is centred on collaborative leadership, aiming to foster innovation and collaboration within the team. “I strongly believe in empowering my team members and cultivating a culture grounded in trust, innovation, and collaboration.” Building a cohesive team entails promoting open communication, recognizing and nurturing talent, and fostering a culture of accountability. The collective effort and synergy within the team propel their achievements, driving innovation in Coco peat technology and ensuring their continued success within the industry. The essence of future transformation lies in innovation, disruptions, and enhancing the end-user experience. In such a scenario, Dr Balachandar says they strike a harmonious

In the startup realm, resilience is the key; treat failures as lessons and not setbacks. Cultivate a diverse network, seek mentorship and understand success is often a marathon, not a sprint. Trust your vision, remain adaptable, and allow challenges to sculpt your entrepreneurial journey.

Integration of Digitalization and Technological Advancements Digitalization and technological advancements are crucial aspects of the modern industrial ecosystem. Dr Balachandar says, “We integrate technology into our operations, invest in R&D for innovative solutions, and promote a culture embracing cutting-edge technology into our core Coco peat production operations.” This keeps them ahead in technological evolution, contributing significantly to an innovative future and continually pushing the boundaries of what's possible in coco peat applications for agriculture, horticulture, floriculture and medical cannabis industries. Highlighting a transformative project that showcases their commitment to excellence and innovation, Dr Balachandar says it was the implementation of an automated Coco peat processing system. This project involved integrating cutting-edge technology to streamline the production process, significantly reducing processing times and improving overall product quality. The introduction of this automated system disrupted traditional manufacturing methods within the coco peat industry and resulted in remarkable efficiency gains, reducing production costs by 30% while maintaining premium product standards. Additionally, it elevated the customer experience by ensuring consistent quality and timely delivery, “Further solidifying our position as an industry leader in Coco peat production and setting new benchmarks for operational excellence.” Fostering a Culture of Growth and Empowerment The workforce is the cornerstone of any successful organization. Believing in this concept completely, Dr Balachandar says their company prioritizes employee growth and empowerment by providing continuous learning opportunities, mentorship programs, clear career development paths, and an inclusive work environment. “We nurture a culture where employees feel valued, motivated,

and empowered to contribute their best, fostering their professional and personal growth.” As a leader in the world's industrial sector, Dr Balachandar and his company have faced their share of challenges. However, he says that during supply-chain disruption, his team showcased resilience and innovation by swiftly reevaluating logistics strategies. Implementing agile methodologies, they optimized alternative supply routes, ensuring uninterrupted operations. “This proactive approach and collaborative effort facilitated a successful resolution, underscoring our team's commitment and adaptability in overcoming the challenge.” At the Forefront of Sustainably Evolved Innovations Similarly, they have made contingency plans for future uncertain events. Post the COVID-19 pandemic, they've developed robust contingency plans by implementing flexible work policies, investing in remote infrastructure, and diversifying supply chains. These measures ensure adaptability during uncertain times, allowing them to maintain operations and serve their customers efficiently. For aspiring entrepreneurs entering the start-up space, Dr Balachandar advises “In the startup realm, resilience is the key; treat failures as lessons and not setbacks. Cultivate a diverse network, seek mentorship and understand success is often a marathon, not a sprint. Trust your vision, remain adaptable, and allow challenges to sculpt your entrepreneurial journey.” Looking ahead, heading into the future, he says their vision is to expand CocoGreen Substrates’ market presence, introduce innovative solutions, and contribute significantly to industry advancements. “We aspire to become the driving force behind eco-friendly agriculture, cultivating a future where every harvest echoes the environmental harmony,” he concludes.

Startups and Unicorns Led by Visionaries are Transforming How

Business Landscape?

www.ciolookindia.com

(16)

February| 2024

Disruptive Visionaries

I

ndia's business landscape is experiencing a seismic shift. In recent years, the country has emerged as a hotbed of innovation and entrepreneurship, fuelled by a wave of startups and unicorns led by visionary leaders. Powered by a potent cocktail of rising internet penetration, a burgeoning young population, and a growing appetite for innovation, startups are no longer fringe players, but the leading edge of disruption.

healthcare, and renewable energy are leveraging disruptive technologies and innovative business models to challenge incumbents and capture market share. The term "unicorn" refers to a privately held startup company with a valuation exceeding $1 billion. These unicorns are not only disrupting traditional industries but also attracting significant investment capital, both domestically and internationally, and driving economic growth and job creation across the country.

At the helm of these ventures stand visionary leaders, individuals with the audacity to challenge the status quo and redefine what's possible. These disruptive visionaries are not only redefining traditional industries but also shaping the future of India's business landscape.

India has witnessed a phenomenal rise in unicorns in recent years, with giants like Paytm, Nykaa, and Zomato leading the charge. These companies, led by visionary founders like Satya Nadella (CEO, Microsoft) and Vijay Shekhar Sharma (Founder, Paytm), are not merely replicating existing models. They are building innovative solutions that cater to the specific needs and aspirations of the Indian market.

The Rise of the Unicorn India's startup ecosystem has witnessed exponential growth in recent years, fueled by a confluence of factors including technological advancements, favorable government policies, and a burgeoning investor landscape. Startups across sectors such as technology, e-commerce, fintech,

www.ciolookindia.com

Visionary Leadership Driving Innovation The success of India's startups and unicorns can be attributed in large part to the visionary leadership of their

(17)

February| 2024

founders and CEOs. These leaders possess a bold vision for the future, coupled with a relentless drive to innovate and disrupt established norms. They are unafraid to take risks, challenge the status quo, and pursue ambitious goals that have the potential to transform industries and improve the lives of millions.

Innovation at the Core Disruptive startups are transforming industries across the spectrum. Here are some key areas where visionary leadership is making a difference: Financial Inclusion: Fintech startups like Paytm and PhonePe are leveraging mobile technology to bring financial services to the unbanked and underbanked population of India.

One notable example is the e-commerce giant Flipkart, founded by Sachin Bansal and Binny Bansal, which revolutionized online shopping in India and paved the way for the growth of the e-commerce industry in the country. Similarly, Paytm, led by Vijay Shekhar Sharma, has transformed digital payments and financial services, becoming one of India's most valuable startups in the process.

Logistics and E-commerce: Pioneering companies like Flipkart and Zomato are revolutionizing the way goods are delivered, offering convenience and affordability to millions of consumers. Education and Skilling: Edtech startups like Byju's and Unacademy are democratizing access to quality education, making it more personalized and accessible for all.

Driving Economic Growth and Job Creation Startups and unicorns led by visionary leaders are not only driving innovation but also fuelling economic growth and job creation in India. By creating new products and services, expanding into untapped markets, and attracting investment capital, these companies are contributing to GDP growth and fostering entrepreneurship and innovation across the country.

Healthcare: Telemedicine platforms like Practo and 1mg are bridging the gap between patients and doctors, especially in remote areas. Beyond Profits: The Visionary Imperative These visionary leaders are driven by more than just profit margins. They understand the power of business to create positive social impact. Companies like The Akshaya Patra Foundation, a non-profit feeding millions of schoolchildren daily, demonstrate the potential for businesses to be agents of social change.

Furthermore, startups and unicorns are major contributors to job creation, particularly in high-growth sectors such as technology, e-commerce, and fintech. By hiring talented professionals and offering opportunities for career advancement and skill development, these companies are empowering individuals and driving socioeconomic mobility in India.

Challenges and the Road Ahead Reshaping the Business Landscape Despite the remarkable progress, challenges remain. Regulatory hurdles, access to capital, and fostering a culture of innovation within the ecosystem are some key areas that need to be addressed. However, the spirit of the visionary entrepreneur is an unstoppable force. As India marches towards a digital future, these disruptive leaders are sure to play a pivotal role in shaping the nation's economic and social fabric.

The rise of startups and unicorns led by visionary leaders is reshaping India's business landscape in profound ways. These companies are challenging traditional business models, disrupting established industries, and driving competition, which ultimately benefits consumers through greater choice, lower prices, and improved quality of products and services. Moreover, startups and unicorns are fostering a culture of innovation and entrepreneurship in India, inspiring the next generation of founders and leaders to pursue their dreams and create meaningful impact. By nurturing a vibrant ecosystem of innovation, collaboration, and risk-taking, these companies are positioning India as a global hub for entrepreneurship and innovation, attracting talent and investment from around the world.

www.ciolookindia.com

The Inspiring Narrative The stories of India's disruptive visionaries are not just about building billion-dollar companies; they are narratives of resilience, resourcefulness, and the unwavering belief in the power of an idea. They inspire a generation of young entrepreneurs to dream big, embrace innovation, and become the architects of India's future.

(18)

February| 2024

India's Influential Men Leaders Making Waves in the Business- 2024

CA Ni n Mi al The Most Effec ve Financial Innovator and Accoun ng Revolu onary

W

Furthermore, Nitin says they are empanelled with Public Sector Banks, the Registrar of Societies and the Comptroller Auditor General of India. They also work for almost all major PSU banks on different assignments/audits.

henever we think about finance, economy, accounting, tax, and monetary aspects, the first person that comes to mind is a Chartered Accountant. Further, when we want our personal, professional, and business finance, investments, loans, tax, budgets, and wealth managed and monetary regulations and policies adhered to, we always demand an expert, accessible, smart, and professional CA.

The Firm Financials Theirs is an ISO 9001:2015 certified firm. What’s more, NMC is one of the few firms which are peer-reviewed by ICAI.

CA Nitin Mittal, the Founder and Partner of Nitin Mittal & Co. (NMC), not only fits perfectly into the criteria mentioned earlier, but he and his team of stalwarts also go the extra mile to provide you with all services and solutions under one roof.

The firm works for national-level NGOs, societies, listed companies, private limited companies, trusts, foreign corporates, ex-pats, etc. Nitin states, “We have state-of-theart infrastructure, own VPN, own servers, dedicated connectivity, in-house audio/video conference facility, board room with projector system etc.”

In Nitin’s words, Nitin Mittal & Co. or NMC was formed in August 2001 as a Chartered Accountancy firm to provide a comprehensive range of services to various industries, including Finance, IT Enabled /BPO, Consultancy, Manufacturing, FMCG Distributors/Retail etc. With soaring aspirations and zeal to succeed, NMC, as the CA Firm, endeavours to be recognized as a reputed professional managed.

Nitin proudly mentions that they got a good team, including Chartered Accountants, Lawyers, Company Secretaries, retired senior managers and above-rank bank officials, accountants, audit assistants, trainees etc. Tech-Savvy Monetary Pundit

Striving for Your Success

In today's globally competitive and complex business environment, NMC has been playing a small but meaningful role in adding strength to the growth of Corporate India. NMC works diligently to faithfully discharge all implicit and explicit responsibilities to its multiple customers, be it clients, staff, the regulator or society.

www.ciolookindia.com

The Founder and Partner of the firm, CA Nitin Mittal himself, is a veteran with degrees including B. Com (Hons.), FCA, MBA, and LLB under his belt. That is not

‘‘

‘‘

Nitin claims, “We are an innovator in Financial, Management Consultancy, Risk Management, Auditing, Taxation and Corporate Laws. In particular, our office is staffed by people who understand the business culture, management requirements and multiple laws and possess the professional expertise that the market demands.”

NMC is an ISO 9001:2015 cer fied one of the few firms peer-reviewed by ICAI.

(20)

February| 2024

all. A Fellow Member of the Institute of Chartered Accountants of India (Since 2001) having a professional and business experience of two decades, Nitin is a tech-savvy Chartered Accountant with a diverse background with exposure to Accounts, Audit, Budgeting, MIS, Secretarial work, RBI, Taxation, T.D.S., Payroll and Customs. He is an expert on matters related to start-ups. As well as his management responsibilities, Nitin continues to take personal responsibility for several of the firm’s longstanding clients. He assists clients with business and strategic planning, mergers and acquisitions, Due Diligence, internal controls and increasing operating efficiency. He has been responsible for numerous assignments in the multinational tax and transfer pricing areas, corporate-wide reorganizations, coordination of provision of global tax services, representation at various levels at tax authorities and other related tax matters. Currently, he heads up the Income Tax, Management Consultancy division and Startup division of the firm.

CA Nitin Mittal, Founder and Partner, Nitin Mittal & Co. (NMC)

He also runs an NGO, Shanti Devi Mittal Foundation imparting skills and education to the underprivileged benefitting 600+ persons annually. A Legacy of Business Bloodline Sharing his inspiration behind venturing into the financial sector as a CA, Nitin reveals they are from a business family and finance is their bloodline. “This profession allows me to develop analytical thinking and progressive decision-making skills and to demonstrate my proficiency in accounting, maths, critical thinking, communication, and budgeting,” he believes. A finance professional gets allaround development. Highlighting the USPs of NMC, Nitin says they continuously update and upgrade to cope with new laws, regulations, regimes, developments with training, conferences, etc., to stay one edge above others. There is an excellent team of professionals, including Chartered Accountants, Lawyers, Company Secretaries, retired senior www.ciolookindia.com

(21)

February| 2024

managers and above-rank bank officials, accountants, audit assistants, and trainees who understand the business culture, management requirements, and multiple laws and possess the professional expertise that the market demands.

any industry. “We must use the technology to save time and effort while increasing efficiency,” he explains. There are various software tools available that not only enhance efficiency and productivity but also ensure accuracy.

“We also invest in technology to keep us way ahead to cope with ever-changing infra needs, COVID, work from home, data security, backups, the cold backup site etc.,” he adds.

Similarly, investing in hardware helps to adapt to new challenges like work home while maintaining data security, cloud computing etc. Time management, accuracy, productivity, and security will all improve. Accountants will be able to provide better insights. The most effective accountants will be those who are open to change.

Nullifying Challenges However, Nitin’s journey was not all hunky-dory. There were challenges. The initial challenge was onboarding good clientele, which Nitin overcame by guiding his team to build networking and referrals.

Purely Merit-Based Future In his advice to the aspirants willing to venture into the field of CA, Nitin says that this is one of the best courses in India with stability. No Reservations and it is purely merit-based. It gives opportunities to be ready for a job and work as a professional apart from doing business like Mr Aditya Birla. One can have a work-life balance in the profession and can grow steadily.

According to him, this profession is extremely competitive and demanding. It involves much responsibility because you must ensure every detail is right while meeting tight deadlines. The challenges now include keeping abreast of everchanging laws, training and retaining a good team and ensuring meeting deadlines while maintaining quality and integrity. Nitin says, “We organize training sessions, the balance between work and home and deploying various tools for smooth and efficient working.”

On envisioning scaling NMC’s scope and offerings in future, Nitin divulges that they have been expanding the range of services to include new areas of practice like due diligence, start-ups, forensic audits and advisory etc. “We are also focusing on overseas markets to provide bookkeeping solutions gaining time and forex difference,” he closes.

Techno-Efficient Precision Being an experienced leader, Nitin also shares his opinion on how technology is transforming the Chartered Accounting sector and what advancements can be expected in the future. He says that technology is a key element of www.ciolookindia.com

(22)

February| 2024

Jeet Chakarborty Guiding Companies Through the Complexi es of the Digital Realm via iLosung

I

n the dynamic landscape of India's SAP and ERP technology industry, Jeet Chakarborty stands out as a visionary leader, making waves as the Founder and Managing Director of iLosung Private Limited, iLosung Middle East, iLosung SA Pty Ltd, iLosung UK Ltd and iLosung America. With a rich background spanning over a decade in the technology sector, Jeet has consistently demonstrated a commitment to guiding companies through the complexities of the ever-evolving digital realm.

by Jeet's passion and self-motivation to embark on his entrepreneurial journey. The business enthusiast aimed to establish a brand centred around comprehending organizational pain points and delivering top-notch tech solutions, leveraging his expertise. Inception of a Technopreneur Formally conceptualized in 2018, the modest beginnings of iLosung took root in a two-bedroom flat. The young entrepreneur's relentless efforts, hard work, and unwavering determination laid the foundation, marked by securing the first support order on SAP ECC. As SAP projects came on

Individuals with common ideologies and ambitious objectives often conceive brilliant ideas to fulfil their aspirations. Similarly, the inception of iLosung was fuelled

www.ciolookindia.com

(24)

February| 2024

India's Influential Men Leaders Making Waves in the Business- 2024

board, the company commenced full-fledged operations in Mumbai and Pune, establishing itself as a delivery centre. With gradual yet consistent growth, iLosung has recently expanded its footprint to include office space in the U.A.E, signalling its intent to establish a regional office in the region.

The Journey of Digital Aspirations Jeet's journey in the IT sector began in 2010, and since then, he has gained a comprehensive understanding of the field by assuming multiple leadership roles across various industries. His strategic vision and expertise have been instrumental in iLosung's pioneering efforts to drive the growth of software services talent in Asia and Africa through the Global Delivery Model.

As the CEO of iLosung Group, Jeet has played a pivotal role in steering the company towards unprecedented success. iLosung specializes in delivering innovative technology solutions to businesses across diverse industries, tackling the challenges faced by global consulting and IT services in India. These challenges include maintaining competitiveness in the global market, delivering highquality services under client pressures, and adapting to rapid technological shifts.

Reflecting on his leadership journey, Jeet emphasizes the importance of cultivating the right attitude, passion, and a strong work ethic as the keys to entrepreneurial success and fulfilment. In a candid statement, he asserts, “Most people waste time endlessly searching for magic shortcuts when the only real path is paved with the right attitude, passion, and lots of hard work. There's no shortcut to success; we must challenge ourselves to improve daily.”

Under Jeet's dynamic leadership, iLosung has experienced significant growth and has earned a reputation for providing cutting-edge solutions that drive business success. Jeet's entrepreneurial spirit, coupled with his profound understanding of technology, has positioned him as a highly respected figure in the industry, solidifying iLosung's position as a leader in its field.

In terms of offerings, iLosung boasts an extensive portfolio of SAP services. The brand's seasoned team has effectively catered to various clients, from SMEs to enterprises. Over two years, iLosung has achieved notable milestones, including successfully implementing SAP S/4 HANA, SAP Success Factors, and various projects spanning different locations and industries. Jeet proudly mentions, “We have successfully implemented but also gone live.” The Distinctive Benchmark

‘‘

‘

Jeet highlights what sets iLosung apart and underscores the team's strength, emphasizing a familial working environment and a commitment to timely project delivery. He further notes, “Our competitive pricing and a substantial portion of clients acquired through referrals contribute to our success.” To propel the business to new heights, iLosung strategically aligns itself with value-added partners and actively expands its global team to enhance its capabilities.

There's no shortcut to success; we must challenge ourselves to improve daily.

www.ciolookindia.com

iLosung's extensive range of services, including SAP solutions such as Rise with SAP, SAP Hybris, SAP Success Factors, SAP Analytics Platform, and more, showcase the company's commitment to excellence. Jeet affirms that iLosung offers a repertoire of SAP services, including Implementation, Upgrade, Support, and on-call services. The company's recognition as one of the premier professional services providers is a testament to its proficiency in managing complex projects.

(25)

February| 2024

Positioned as an all-encompassing technology solutions provider, iLosung extends its services across diverse sectors, including oil and gas, manufacturing, retail, automotive, engineering, FMCG, distribution and logistics data, and more. The company has played a pivotal role in catalyzing significant transformations, contributing to India's ascendancy as a global hub for software services talent. iLosung stands out as a pioneer of the Global Delivery Model, earning recognition as one of the premier IT companies originating from India.

Making an Impact Numerous businesses have adopted SAP ERP due to its proficiency in managing financial transactions, facilitating collaborative decision-making, overseeing product life cycles, and orchestrating supply chain activities. However, the implementation of SAP is commonly perceived as a complex undertaking involving the integration of SAP with other technologies, customization to align with specific customer needs, and incorporation of data into various databases. Regardless of the enterprise's size, the sheer volume of data processed through the SAP database is extensive and challenging to analyze. Additionally, the effective implementation of SAP is a resource-intensive and prolonged process, demanding a highly skilled workforce and substantial financial investment.

Providing the Solutions, You are looking For Leveraging its extensive expertise overseeing intricate SAP projects, iLosung offers a comprehensive suite of SAP solutions, including SAP GRC, SAP Ariba, SAP Hybris C4C, SAP SuccessFactors, and OpenText Solutions. With a strong foothold in SAP S/4HANA Implementations, Support, Conversion and Cloud Services, and Success Factors, iLosung emerges as a specialized SAP service provider and a distinctive brand in the industry. Operating as a privately held entity, the company maintains its corporate headquarters in Mumbai, Maharashtra, India, and has expanded its operations across EMEA, ANZ, UAE, USA, and APAC regions.

“This is where we at iLosung are making all the difference by helping businesses in developing and implementing industry-specific personalized and customized SAP solutions,” concludes Jeet Chakarborty, whose leadership and iLosung's innovative solutions continue to leave a lasting impact in a landscape characterized by constant technological advancements. It makes Jeet and his team an integral player in India's technology-driven business landscape in 2024.

SAP has recently introduced its public cloud solution named S/4HANA Cloud, foreseeing India's ascent as one of the leading global markets for cloud services with a projected reach of a market size of US$9,220 million in 2024. Furthermore, per the projections for the ERP Software Market in India, it is anticipated that industryspecific ERP solutions will secure a market share of 25% by the year 2027. According to SMR's research findings, SAP commands an approximately 3.71% share of the overall ERP software market. SAP's ERP product portfolio spans analytics, expense management, human capital management, and customer relationship management, offering a versatile suite that can be tailored and implemented to meet diverse enterprise requirements.

www.ciolookindia.com

(26)

February| 2024

Unconven onal Leaders Challenging the Business

Status Quo in India

I

ndia's boardrooms are no longer just for the silverhaired elite. In the dynamic and rapidly evolving business landscape, a new breed of unconventional leaders is emerging, challenging the traditional norms and redefining the rules of the game. These “power players” are not bound by convention or constrained by the status quo; instead, they bring a fresh perspective, innovative thinking, and bold strategies to the table. A new generation of leaders, armed with unconventional approaches and a willingness to disrupt, is shaking up the business landscape. These power players are challenging the status quo, proving that success can be achieved outside the traditional mould.

Power Players www.ciolookindia.com

(28)

February| 2024

Flat Hierarchies: They believe in fostering a collaborative environment, empowering employees and breaking down rigid hierarchies.

Breaking the mould: Unconventional Leadership Traits Conventional wisdom dictates that leadership in business adheres to certain norms and conventions. However, the power players of today are breaking free from these constraints, embracing their unique backgrounds, perspectives, and approaches to leadership.

Focus on User Experience: They prioritize customer satisfaction, creating products and services that cater directly to user needs. Data-Driven Decisions: They rely on data analytics to inform strategic decisions, moving away from intuition-based approaches.

Whether they come from non-traditional industries, have unconventional career trajectories, or challenge established business practices, these leaders are proving that there is no one-size-fits-all formula for success in the business world. These leaders defy easy categorization. Here are some characteristics that set them apart:

Embracing Diversity and Inclusion One of the hallmarks of unconventional leadership is a commitment to diversity and inclusion. These leaders recognize the value of diversity in driving innovation, fostering creativity, and enhancing decision-making. By building teams that reflect a diverse range of backgrounds, perspectives, and experiences, they create an environment where every voice is heard, and every individual can thrive. This commitment to diversity and inclusion not only strengthens their organizations but also sets them apart as progressive and forward-thinking leaders in the business community.

Visionary with a Cause: They are driven by a strong purpose, often aiming to solve social or environmental problems alongside building successful businesses. Digital Natives: They leverage technology as a core tool, disrupting traditional industries with innovative solutions.

Disruptive Innovation Unconventional leaders are disruptors by nature, constantly challenging the status quo and pushing the boundaries of what is possible. They embrace innovation, experimentation, and risk-taking, leveraging new technologies, business models, and market trends to drive growth and stay ahead of the competition. Whether they are launching disruptive startups, leading digital transformations, or revolutionizing traditional industries, these leaders are not afraid to shake things up and chart a new course for their organizations.

www.ciolookindia.com

(29)

February| 2024

Sanjiv Mehta (Hinduja Group): Sanjiv revamped the image of the traditional conglomerate, focusing on innovation and adaptability within the Hinduja Group.

Social Responsibility and Impact Beyond driving profits, unconventional leaders are also committed to making a positive impact on society and the environment. They recognize their role as stewards of the communities in which they operate and strive to create value beyond the bottom line. Whether through corporate social responsibility initiatives, sustainable business practices, or advocacy for social causes, these leaders are using their influence and resources to effect meaningful change and leave a lasting legacy for future generations.

Impact on the Business Landscape The impact of these unconventional leaders is undeniable. They are: Creating New Markets: They are identifying unmet needs and building businesses that cater to them, expanding the overall market size.

Leading by Example Empowering Consumers: Their focus on user experience raises the bar for customer satisfaction across industries.

Perhaps the most defining characteristic of unconventional leaders is their ability to lead by example. They embody the values they espouse, demonstrate integrity, authenticity, and humility in their actions, and inspire others to follow their lead.

Promoting Innovation: Their willingness to experiment and embrace technology is driving a culture of innovation within the Indian business ecosystem.

Through their bold vision, unwavering commitment, and willingness to challenge the status quo, these leaders are not only driving business success but also shaping a new paradigm of leadership that prioritizes purpose, people, and planet.

Inspiring a New Generation: Their stories are inspiring a wave of young entrepreneurs to challenge the status quo and pursue their own unconventional paths to success.

Meet the Disruptors: Examples of Unconventional Leaders

These unconventional leaders also face challenges. Navigating regulations designed for a bygone era, securing funding that embraces their disruptive visions, and building trust with established players are just a few hurdles they must overcome.

Challenges and the Road Ahead

Ritesh Agarwal (OYO Rooms): This young entrepreneur revolutionized the hospitality industry with OYO's innovative hotel aggregation model.

A New Era of Leadership Deepika Garg (PeeSafe): Deepika tackled the taboo subject of menstrual hygiene with PeeSafe, providing affordable sanitary products to millions of women.

Despite the challenges, the rise of unconventional leaders signifies a new era in Indian business. These power players are proving that success can be achieved by challenging norms, embracing change, and prioritizing social impact alongside financial gain. As India continues its economic growth story, their unconventional approaches are sure to play a crucial role in shaping the future of the nation's business landscape.

Bhavin Jain & Divyank Turakhia (BigBasket): They disrupted the grocery shopping experience with BigBasket, offering convenience and quality online deliveries.

www.ciolookindia.com

(30)

February| 2024

SUBSCRIBE

TODAY

Stay in the known. Subscribe to CIOLOOKINDIA Get CIOLOOKINDIA Magazine in print and digital on www.ciolookindia.com

LOOK INDIA

Sunil Raina Managing Director Lava International Ltd

Making Waves Beyond Smartphones with Lava International

I

n the crowded shrills of one-note foreign smartphone giants, Sunil Raina, one of India’s most influential leaders, is shaping the new wave rising in the Indian business landscape, a force rewriting the very definition of mobile technology: Lava International Ltd.

outlook aligned seamlessly with my belief in India's potential to emerge as a global leader in technology. Joining Lava wasn't merely a professional move but a commitment to realizing the dream of establishing a Global Indian Technology Brand. I saw in Lava an opportunity to contribute meaningfully to a cause that resonated with me – the idea that India not only deserves but should lead the way in the technology sector. This conviction drove my decision to become part of a broader vision, one where I could leverage my skills and experience to propel India to the forefront of global technological innovation.

According to Sunil, the Managing Director, Lava isn't just another phone company; it's a trailblazer in innovation, a champion of accessibility, and a driving force behind India's technological revolution. Sunil spoke in an exclusive interview with CIOLook India, the highlights of which are given herein.

I firmly believe that within the Indian talent pool lies the capability and determination to make this ambitious vision a reality. By being part of the Lava family, I am not just shaping a company but contributing to the larger narrative of positioning India as a frontrunner in the global technology arena. The journey so far has been both gratifying and challenging, but the collective talent and determination fuel my optimism for the future.

As a visionary leader in the industry, could you take us back to the beginning of your journey? What motivated you to step into this dynamic ecosystem? My educational background in Electronics was the foundation for my deep interest in technology, a passion that has accompanied me since my early years. This fervour led me to immerse myself in the dynamic world of technology, eventually securing a position with one of the prominent players in the telecom sector.

Lava has emerged as India’s leading transformational company in its niche. Could you share the guiding philosophy that has propelled your organization's success?

Throughout my career, I've contributed to renowned companies such as Tata, Reliance, and Airtel, each of which has played a pivotal role in shaping India's technological landscape. However, the prospect of joining Lava International truly captivated me. The company's visionary

www.ciolookindia.com

Lava attributes its success to a steadfast commitment to customer-centricity. Lava revisited its core principles when

(33)

February| 2024

India's Influential Men Leaders Making Waves in the Business- 2024

faced with challenges arising from the competitive pricing and diverse product portfolios of international brands. The organization re-envisioned its approach, prioritizing delivering an unparalleled customer experience while maintaining affordability. This steady commitment to meeting customer needs has been crucial in Lava's emergence as India's leading transformational company in its niche.

My approach to leadership centers around the union of vision and action. I strive to clear a compelling vision for the future that resonates with the organisation's collective goals. This vision is a guiding beacon, inspiring every team member to contribute their best towards a common purpose. Team building is not merely about assembling a group of individuals but nurturing a diverse and inclusive environment that values each member's unique strengths. Collaboration is encouraged, and open communication channels are maintained to ensure every team member feels heard and valued.

The industrial landscape is continually evolving. Please brief our audience about Lava’s USPs and how you are currently positioned as one of the best transformational companies in its sector.

Recognizing that the industrial landscape is ever-evolving, I advocate for a culture of adaptability and continuous learning. Embracing change is not just a necessity but an opportunity for growth. This ethos trickles down to the entire organization, fostering an environment where challenges are viewed as stepping stones to innovation.

Lava's USP lies in prioritizing an unparalleled customer experience. Unlike other smartphone brands pre-loaded with bloatware, Lava has strategically eliminated this issue from its software experience. The presence of bloatware not only hinders customer experience by restricting the removal of unwanted apps but also poses security risks by storing personal information. In contrast, all Lava smartphones boast a clean, stock, and bloatware-free Android experience.

The essence of future transformation lies in innovation, disruptions, and enhancing the end-user experience. How does Lava strike a balance between operational efficiency and customer satisfaction?

Setting itself apart further, Lava ensures that its entire smartphone portfolio, from budget-friendly devices like Yuva to flagship smartphones like Agni 2, receives regular updates. This commitment extends beyond providing clean Android, as Lava supplements the user experience with timely security updates and upgrades. This dedication to delivering an optimal and secure smartphone experience positions Lava as one of the best transformational companies in its sector.

Lava recognizes that the future of transformation hinges on innovation, disruptions, and elevating the end-user experience. Lava has assembled a team of highly skilled professionals equipped with unique problem-solving abilities to balance operational efficiency and customer satisfaction. The company's strategic approach revolves around a singular, driven agenda: establishing itself as the leading Global Indian Smartphone brand.

Your influential leadership style is often recognized as a driving force behind Lava's achievements. Could you shed light on your approach to leadership and team building within the organization?

Lava undertook an initiative to redefine after-sale service: We introduced industry-first – Free Service and Replacement at Home.

At the heart of our company's achievements lies a leadership philosophy grounded in innovation, adaptability, and a deep commitment to fostering a cohesive and empowered team. I firmly believe that a leader's influence extends beyond setting directions; it involves creating a culture that thrives on collaboration, continuous learning, and resilience. www.ciolookindia.com

(34)

February| 2024

This unified dedication to the principal objective underscores the importance of consistently enhancing customer satisfaction. Lava understands that achieving the status of a Global Indian Smartphone brand necessitates surpassing customer expectations compared to other brands. By fostering a workforce committed to this goal, the company ensures operational efficiency while parallel prioritizing the delivery of an exceptional and satisfying experience for its customers. Digitalization and technological advancements are crucial aspects of the modern industrial ecosystem. How does Lava integrate these principles into its core functioning and contribute to a technovative future? Being at the forefront of technological advancements, our company prioritizes the seamless integration of digitalization into its core operations. We have proactively embraced a tech-centric approach by developing in-house platforms dedicated to our employees. These platforms streamline organisational functions and significantly reduce manual work, enabling accessibility across India from any laptop or smartphone. This is particularly beneficial for our sales team operating in the field.

In response to this insight, Lava undertook an initiative to redefine after-sale service. We introduced industry-first – Free Service and Replacement at Home. This offering brings customer support to their doorstep and extends the service to any location at their convenience. We firmly believe that once a smartphone is purchased, customers should completely control their devices. Our commitment to providing the utmost customer experience at every touchpoint underscores our dedication to pushing the industry's boundaries of excellence and innovation.

Furthermore, our commitment to a technovative future is evident in our proactive steps towards automation. We are actively transitioning towards a complete digital ecosystem by minimising paper use in the workplace. Embracing these principles ensures that our organization remains agile, adaptive, and aligned with the evolving landscape of the modern industrial ecosystem.

The workforce is the cornerstone of any successful organization. How does your company foster a culture of growth, skill development, and empowerment among its employees?

Lava has achieved remarkable success. Could you highlight a transformative project or initiative that showcases your company's commitment to excellence and innovation?

The strength of Lava lies in its dedicated workforce, comprising over 3000 employees across various functions, who serve as the backbone of our organization. Given our end-to-end control over product design, manufacturing, and distribution, ensuring a skilled and empowered workforce is important.

Our commitment to excellence and innovation is symbolized by a transformative project to revolutionise the customer experience. In an era dominated by digitization, where the convenience of accessing services from home is paramount, we recognized a gap in the traditional approach to customer service. Despite the ease of remote accessibility, customers are still required to visit service centres for device issues. www.ciolookindia.com

Lava has implemented several initiatives to foster growth and skill development among our employees. A notable example is our commitment to continuous learning through a company-wide Book Reading program, accessible to employees at all levels. Additionally, a dedicated team is in place to support both professional and personal development,

(35)

February| 2024

ensuring that our workforce is equipped with the skills necessary for their roles.

Recent studies underscore the reality that only eight per cent of startups manage to thrive beyond the crucial Tenyear mark. This low success rate is not due to a lack of innovative ideas or passion; it often comes down to their leadership. My foremost advice to budding entrepreneurs is to invest in enhancing their leadership skills. It's not just about having a brilliant idea; it's about steering that idea through the entrepreneurial journey's challenges.

Furthermore, we encourage a culture of healthy competition through activities spanning all functions within the company. Incentives for the winning team are not solely performance-based; they also encompass factors such as BMI and insights gained from book reading. This approach recognises achievements and encourages personal growth and engagement in the workplace.

Another common drawback observed is the tendency of startups to spread themselves by attempting to do too many things simultaneously. The attraction of grabbing every opportunity can be overwhelming, leading to a lack of clear goals and a loss of focus. Success in the startup ecosystem hinges on maintaining a sharp focus. Define a single, compelling goal that aligns with your vision, and let that goal be the driving force behind every decision and action. Instead of trying to conquer everything, channel your energy into mastering one aspect at a time. This sharpens your focus and enhances the likelihood of sustainable success.

As a leader in the world's industrial sector, Lava has likely faced its share of challenges. Could you share an instance where your team's resilience and ingenuity triumphed over adversity? In 2009, Lava International Ltd. was established, experiencing significant growth until 2014 amid a landscape where over 200 Indian brands were addressing customer needs. However, by 2014, the industry faced a transformative period as foreign brands, armed with competitive pricing, expansive marketing budgets, and unmatched skills and scale, entered the thriving Indian Smartphone ecosystem. This led to disruption, resulting in the decline and closure of numerous Indian mobile brands, catching many off guard.

Looking to 2024, what is your vision for Lava? How do you aspire to continue making a significant impact on India's transformational future landscape? In envisioning the trajectory in 2024, our vision is anchored in sustained innovation, unwavering commitment to customer satisfaction, and continued contributions to India's transformational future landscape. Building upon our past successes, we aspire to further solidify our position as a pioneer in the industry, setting new benchmarks for excellence and ingenuity.

Anticipating the challenges ahead, Lava had strategically invested in developing its design labs and manufacturing plant in India during the early stages. This foresight proved crucial in navigating the disruptions that unfolded. Despite the challenges, Lava's long-term plan to create a robust manufacturing ecosystem in India allowed the company to weather the storm. Today, we find ourselves surviving and thriving in the face of the brands that once posed a threat, competing head-on in the dynamic Indian market. This instance reflects the resilience and ingenuity of our team, demonstrating how strategic planning and a commitment to self-sufficiency can triumph over adversity.

We aim to leverage cutting-edge technologies to enhance the end-user experience and stay ahead of industry trends. Embracing a culture of growth, we will continue fostering the skills and empowerment of our workforce, ensuring they are equipped to navigate the evolving industrial landscape.

Businesses are a way for the Indian industry to pace its economic potential and capacity. What would you advise other budding entrepreneurs who aspire to venture into the startup space?

www.ciolookindia.com

Furthermore, our long-term vision includes expanding our footprint and scaling up in the Indian market. We intend to forge strategic partnerships and collaborations that align with our values and contribute to the industry's overall growth.

(36)

February| 2024

LOOK INDIA

www.ciolookindia.com