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www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA
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Our Technology
Whom do we serve?
We work for diverse businesses of all sizes right from
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✔ Technology Offshore partnership
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service requirements
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offerings for the existing technology base.
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Who we are?
Techmango is a prominent IT services, consulting,
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Why Techmango is formed?
Started as a small IT service-providing company of just 30 professionals
in 2014 in Madurai, with a strong vision of making a massive difference in
the IT service sector by empowering businesses with top-notch IT
services, Techmango has now emerged as a leading, community-based
IT service-providing organization serving millions of brands across the
globe.
Primarily located in the tier 2 city, Madurai with Offshore Development
Centers (ODCs) in Chennai and Trichy, we also have Overseas offices in
Dubai (UAE), USA - Atlanta (Georgia), and Unionville (Connecticut).




















Entertainment
Real estate
Social Networking
E-commerce
Healthcare
Education
Logistics
Manufacturing
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Kajal Dobhal
Kajal@businessconnectindia.in
Most of our editions spotlight that role of diversity, equity, and inclusion that
stands as cornerstones of effective leadership in the business realm. And worth
mentioning , the modern day businesses realize the significance of fostering
diverse and inclusive work environments that promote belongingness and
empower individuals. Well, this issue is nothing short of similar insights that
would amaze you in most unimaginable ways. For endorsing the overall business
backdrop, it’s imperative to acknowledge the profound impact that emerging
trends are exerting on industry paradigms. The major refinement of the business
strategies is not merely a progression. It is actually a revolutionary shift that
highlights adaptability, innovation, and a better view of consumer behavior.
Now, the budding entrepreneurs are shattering the traditional models with the
help ofdigitalization.Enterprisesthatareactivelyembracingthesetransformative
trends poised for unprecedented success. The decision making process is being
conducted or improvised with the power of AI and data analytics. No doubt, these
advances in business processes cultivate a culture of inclusivity and sustainability.
And in this vein, the enterprises are rewriting the rulebook and opening the
gateway for more resilient businesses that are equally socially responsible. At the
heart of these advancements lies a commitment to agility and foresight, enabling
organizations to anticipate market shifts, capitalize on emerging opportunities,
and stay ahead of the curve.
The cover page is graced with the success narrative of Mindspace Outsourcing
Services Pvt. Ltd., that was established by two industry leaders, Kshitij Jain
and Manish Jindal, who specialize in comprehensive financial outsourcing
solutions. The organisation is making a mark in its respective industry focused
on quality offerings and data security. As a collective vision of two distinguished
entrepreneurs, the company is sparking the talks in the context of accounting
outsourcing that is quite lucrative for businesses.
At last, I would say that we are on the verge of witnessing a remarkable era of
innovation. It’s evident that the businesses thriving amidst these unfavourable
tides are those that dare to challenge conventions, embrace disruption,
and embrace a mindset of continuous evolution. Let’s cherish this edition,
underscoring the transformative power of these new age business trends that
is not merely creating a difference; it’s shaping the very fabric of our economic
landscape. We need to talk of a future defined by ceaseless possibilities and how
the modern business executives can lead this wave of change in the best possible
way.
An attempt to unlock new realms of
business opportunities
Publisher  Editor : Abhishek Kumar Dubey
Vol - 6| Special Edition|March 2024
We are also available on:
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Publisher  Editor : Abhishek Kumar Dubey
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Copyright © 2018 FanzineIndia, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission
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expressed in this publication are not necessarily those of the magazine and according no liability is assumed by the publisher.
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Editorial Team
Kajal Dobhal | Sugandh Bahl | Dr. Amit Mishra | Avishek Singh | Kriti Anand | Geetanjali
Business Head
ASHISH KUMAR
Senior Marketing Manager
Sonia Tiwari
Senior Relationship Manager
Reshmi Mishra
Corporate Team
Satyam Singh | Sunny Pathak | Asha Dudeja | Pradeep Pandey | Reetu Chauhan | Komal Verma
Sudha Gupta | Vikash Kumar | Kazim Barati | Rahul Kumar | Abhishek Mishra | Vijender Saroj |
Kavita Tiwari | Sanyam Bhayana | Deepali Kalra
Co-ordinator (Business Connect-Clients)
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Data Research  Analysis
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COVER STORY
TABLE OF
CONTENT
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16 20
The Success Story of the
App Matching Millions
around the World
Atnest: Bringing the
Most Ideal Co-living
Space Filled Up with
Premium Amenities
SUCCESS ATNEST PVT. LTD.
22 26
5 ways that will shape the
future of work trends
Pioneering Change In
The Pharmaceutical
Landscape Unveiling A
Visionary Strategy
Amid Industry
Challenges
BCM Inhouse BLACK LEO MEDS
28 32
9 Distinct Ways To
Cultivate A Thriving
Workplace
A Growth Catalyst,
Dedicatedly Empowering
The Socio-Economic
Upliftment Of
The Rural Poor
BCM Inhouse END POVERTY
34 38
The Success Story of the
App Matching Millions
around the World
Elevating the Express Global
Logistics Experiences with
Seamless, Reliable, and
Unparalleled Services
BCM INHOUSE QUICKSHIP
GLOBAL EXPRESS PVT. LTD.
Page
MIND SPACE
OUTSOURCING SERVICES PVT.LTD.
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46 50
Venturing Into The Role Of
The Immersive Technologies
In The Modern
Business Realm
TRANDING ‘TRAVEL WITH
SUSMITA’:
Journeys Memorable
Making
52 54
How To Stay Awake
At Work
Shasring the goodness of
yoga with regular practices
and unique techniques
YOGA SANSKAR
SUTRA FOUNDATION
LIFESTYLE
58 60
A Young and Agile Supply
Chain Pioneer, Shaping
the Entire Supply Chain
Network
A Glance Into The
Empowering Innovations
Of Genai Tools
ZEVO TECHNOLOGY
40 44
From Parking To Retail:
How Do Airports
Make Money?
Empowering the Cultivation
of Prawns Naturally
and Locally
TRAVELING RYMA FOODTECH
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Mindspace Outsourcing:
A Prominent Outsourcing Firm Offering a Complete
Spectrum of Bookkeeping, Payroll and Accounting Services
O
ver the past few decades, the accounting sector has experienced a
significant transformation as businesses outsource more tasks to
enhance efficiency. Due to the increasing complexity of financial rules and
the demand for specialised skills, it has become vital for accounting firms
to find the best outsourcing partners that can cater to their distinctive
needs and offer pertinent solutions.
An exemplary player in this arena is Mindspace Outsourcing Services Pvt. Ltd., founded by two industry leaders,
Kshitij Jain and Manish Jindal, specialising in comprehensive financial outsourcing solutions.
Nestled in the beautiful city of Jaipur, Mindspace stands as a truly amazing and trusted firm, effectively serving
clients across diverse sectors, employing knowledge-based approaches, and delivering efficient, value-centric
accounting outsourcing services. Mindspace came into existence in 2008 with a mission to provide tailored financial
solutions that empower businesses and accounting firms to thrive in a dynamic and competitive landscape. Over
the years, the firm has emerged as a prominent accounting firm with an extensive range of services encompassing
bookkeeping, VAT and tax return preparation, payroll processing, accounts production, Xero/QBO migration,
management reports, sales tax return preparation, GST/BAS returns, financial analysis and forecasting, as well as
IFRS and Ind-AS implementation support services.
With ISO 9001 and ISO 27001 certifications, Mindspace emphasises a steadfast commitment to quality and prioritises
data security. The team comprises expert Chartered Accountants, ACCAs, MBAs, and seasoned commerce graduates
who leverage some of the world’s premier accounting solutions to ensure excellence in their offerings.
The Genesis of Mindspace
Mindspace emerged from the collaborative vision of Kshitij Jain and Manish Jindal, both distinguished chartered
accountants with a shared passion for technology. Their paths converged during a data security course, sparking
conversations about their respective strengths and interests. Recognizing the potential to revolutionize client
servicing and accounting outsourcing, they hatched the idea of establishing Mindspace.
Fuelled by a commitment to innovation, Kshitij and Manish decided to focus their efforts on serving clients in the
United Kingdom. This decision marked the inception of Mindspace in 2008, laying the foundation for a journey
characterized by a harmonious blend of financial expertise and technological prowess. Since its founding, Mindspace
has continually evolved to provide cutting-edge solutions in the dynamic realms of client servicing and accounting
outsourcing.
MIND SPACE
OUTSOURCING SERVICES PVT.LTD.
MANISH JINDAL
DIRECTOR  CO-FOUNDER
KSHITIJ JAIN
DIRECTOR  CO-FOUNDER
Cover Story
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• Regular System Upgrades:
• Ensure their internal systems are regularly updated to
benefit from the latest features and security patches.
• Collaborating with technology providers to stay
informed about upcoming upgrades.
• Data Analytics and Reporting:
• Leveraging advanced data analytics tools to provide
clients with in-depth financial insights.
• Offering customizable and interactive reporting features
for better decision-making.
• Environmental Sustainability Initiatives:
• Promoting eco-friendly practices by reducing paper
usage through digital processes.
• Exploring energy-efficient technologies in the
operations.
Mindspace’s Key Focus: Quality
In the pursuit of excellence at Mindspace Outsourcing,
their commitment to delivering top-notch services is
ingrained in every aspect of their operations. Highly
qualified professionals undergo continuous training,
staying updated on the dynamic landscape of accounting
regulations. This proactive approach ensures that the
team is well-equipped to provide services that are not
only accurate but also compliant with the latest industry
standards.
To fortify the reliability of their services, they have
implemented a maker and checker policy. This meticulous
review system involves a dual-layered validation process,
where tasks are initially performed by one team member (the
maker) and rigorously reviewed by another (the checker). This
stringent policy acts as a safeguard against errors, reinforcing
the precision and quality assurance of their deliverables.
Furthermore, their commitment to quality is underscored by
the attainment of ISO 9001 certification. This internationally
recognized standard for quality management reflects their
dedication to implementing rigorous quality control processes.
The adoption of ISO 9001 at Mindspace ensures that their
services consistently meet regulatory requirements, exceed
customer expectations, and align with the highest industry
benchmarks.
These strategic measures not only elevate the standards of their
services but also underscore their unwavering commitment to
delivering exceptional financial outsourcing solutions to their
valued clients.
Clientele and Corporate Ethos: At a Glance
Mindspace caters to a broad spectrum of clientele spanning
diverse industries, such as retail, e-commerce, real estate and
property management, logistics, construction, technology
and IT, healthcare, manufacturing, hospitality and tourism,
education, bars and restaurants, travel, entertainment, law
firms, and consulting firms, etc. Their commitment to a
knowledge-based approach, quality deliverables, and a client-
centric focus has earned the team the trust of their clients.
Confidentiality, accuracy, and timely delivery are the pillars of
their client relationships.
Distinctive Marketing Strategies
Client testimonials and case studies are pivotal components
of the marketing efforts at Mindspace, serving as compelling
narratives that highlight their capabilities and the positive
impact they have had on their clients. These real-life success
stories provide tangible evidence of the value they bring and
contribute to building trust among the current and prospective
clients.The team’s commitment to transparency, coupled with
a focus on showcasing their expertise and client success, forms
the cornerstone of the marketing approach. This strategy not
only reinforces their brand identity but also positions us as
a trusted partner in the realms of accounting and financial
outsourcing.
An Edge Over the Peers
Mindspace Outsourcing Services stands out in the industry
through a combination of distinctive elements that collectively
define their competitive edge. At the core of the success lies
a commitment to cultivating long-term partnerships with the
clients. Grounded in trust, reliability, and mutual success, these
relationships are a testament to their dedication to fostering
enduring connections.
A pivotal component of their strength is the team of seasoned
advisors. Their expertise and collaborative approach contribute
significantly to their ability to deliver exceptional solutions
tailored to the unique needs of the clients. With a focus on
long-term employment, their workforce embodies stability and
continuity, ensuring a consistent level of service excellence.
Setting them apart from industry norms is their proprietary
quality-checking mechanism. Going beyond established
standards, this system ensures the precision and accuracy of
their deliverables, reflecting the unwavering commitment
to quality. Bolstered by 14 years of industry experience,
Mindspace has amassed a wealth of knowledge and insights,
allowing us to navigate complexities and offer effective,
tailored solutions.
Their certifications in leading accounting platforms, including
Xero, QuickBooks, Zoho, and Sage, showcase their commitment
to staying technologically current. This commitment extends
to collaborating with CPAs and businesses across diverse
industries, equipping us with a versatile skill set to address the
unique challenges of each sector.
Keeping abreast of the latest changes in tax laws, regulations,
and compliance requirements is one of their strengths. This
ensures that the clients are always in compliance with the latest
standards, reducing the risk of penalties and issues.
The Visionary Leadership
Kshitij Kenny
With over 18 years of distinguished professional experience
as a Qualified Chartered Accountant, Kshitij Kenny Jain is
an esteemed member of the Indian Institute of Chartered
Accountants, TIE Jaipur, JIIF, JITO, ICAI, and Nasscom. Beyond
his financial acumen, Kshitij is a dedicated coach to numerous
start-ups and an active philanthropist, overseeing the JIIF
Innovation Center. His expertise in management accounting is
exemplified through talks at Management Training Institutes
on outsourcing, business setup, cloud accounting automation,
and digital transformation for accounting companies.
The Initial Team Formation at Mindspace
The Mindspace team comprises highly qualified
professionals, encompassing chartered accountants,
ACCAs, MBAs, and seasoned commerce graduates.
When they initiated their journey, building a proficient
team posed a formidable challenge. As pioneers in
the outsourcing sector, operating under the banner of
Payoneer, they encountered a scarcity of readily available
talent in the market.
Undeterred by the absence of a suitable talent
pool, they undertook the initiative of developing
an extensive in-house training program. Through
strategic efforts, they successfully created a pool
of skilled professionals, nurturing their abilities
and aligning them with the specific requirements
of their clientele. Overcoming cultural challenges
was integral to their success, and they meticulously
crafted a team that not only excelled in technical
expertise but also seamlessly integrated with the
diverse cultures of the clients.
Their recruitment strategy extended beyond
conventional norms, enabling them to harness talent
from varied backgrounds. This proactive approach
not only addressed the initial scarcity but also paved
the way for a diverse and highly skilled talent pool at
Mindspace. This commitment to talent development
and cultural alignment has been instrumental in their
journey to provide top-notch outsourcing solutions
to their clients.
Integrating with the Latest Tech
Evolution
Their commitment to staying abreast of the latest
technological advancements in the market is integral
to providing efficient and innovative services.
Here’s how the company synchronizes with these
advancements:
• Adoption of cutting-edge accounting software:
• They consistently evaluate and adopt the latest
accounting software to streamline bookkeeping
processes.
• Integration of cloud-based solutions for real-
time collaboration and accessibility.
• Automation Implementation:
• Embracing automation tools to expedite
routine tasks such as data entry, invoicing, and
reconciliation.
• Utilizing machine learning and AI to enhance
accuracy and efficiency in data analysis.
• Data Security Measures:
• Implementing robust cybersecurity measures to
safeguard client financial data.
• Regularly updating their systems to adhere to
the latest security standards.
• Digital receipts and documentation:
• Encouraging the use of digital receipts and
documentation to reduce paper usage and
enhance organization.
• Implementing systems for easy retrieval and
storage of digital documents.
• Client Portals and Communication Tools:
• Offering secure client portals for seamless
communication and document sharing.
• Utilizing communication tools that align with
the latest trends, such as video conferencing and
instant messaging.
• Continuous Team Training:
• Investing in ongoing training programs to keep
the team updated on the latest technological
trends.
• Encouraging certifications in relevant software
and technologie
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As the director and co-founder of
Mindspace Outsourcing Services Pvt.
Ltd., Kshitij leads the provision of
exceptional accounting outsourcing
services to firms and businesses in
the US, UK, Canada, Australia, and
UAE. His global impact extends to
participation in international exhibitions
across cities like Las Vegas, New York,
London, Sydney, and San Jose.
Manish Jindal
With over 18 years of distinguished
professional experience as a Qualified
Chartered Accountant, Manish
Jindal serves as the co-founder of the
company, where his primary focus lies
in overseeing client delivery tasks. A
highly accomplished individual, he
holds qualifications such as Certified
Xero, QB, QB Online Proadvisor, DISA,
and AIA (UK) and is a fellow member of
the Institute of Chartered Accountants of
India. Manish specializes in areas crucial
to financial management, including
tax returns, year-end accounting, and
management reporting. His dedication
to excellence and commitment to his
field have earned him recognition,
including being an active member of
BNI.
Nurturing a Proficient and
Productive Team
Mindspace boasts a proficient
team comprising expert Chartered
Accountants, ACCAs, MBAs, and
seasoned Commerce Graduates,
collectively harnessing some of the
world’s premier accounting solutions.
Their dedicated professionals,
predominantly graduates and
postgraduatesinaccountingandfinance,
possess exceptional communication
skills and bring a wealth of industry
experience, ranging from a minimum of
3 years to 15 years.
The accomplished team members are
well-versed in English communication
and boast extensive experience across
various industries, including retail,
e-commerce, real estate and property
management, logistics, construction,
technology and IT, healthcare,
manufacturing, hospitality and tourism,
education, bars and restaurants, travel,
entertainment, law firms, and consulting
firms.
Furthermore, they excel at managing books on multiple platforms, including Xero, QB (Desktop), QB Online, MYOB, Freshbooks, Zoho
books, Sage, WaveApps, FreeAgent, Kashflow, Netsuite, Odoo, Buildium, RenTec, Appfolio, Yardi, Propertyware, RentManager,
Quicken, Gusto, Dext, Keytime, CCH, and more. This comprehensive approach ensures that their services align seamlessly with the
diverse needs and preferences of the clientele.
Mindspace’s Distinctive Tactics for Employee
Motivation
• Recognition: regular acknowledgment of accomplishments
and efforts to boost morale.
• Professional Development: Encouraging ongoing learning
and skill enhancement.
• Team Building: organizing team-building activities to foster
a sense of camaraderie.
• Flexible Work Arrangements: Providing flexibility to
maintain a healthy work-life balance.
• Employee Feedback: Encouraging open communication for
constructive feedback.
• Rewards and Incentives: Recognizing exceptional
performance with tangible rewards.
• Clear Goals: Setting transparent and achievable goals for
individual and team success.
• Social Events: Hosting recreational gatherings to promote a
positive and engaging work environment.
• The Achievements and Accomplishments Along the Way
• Mindspace has garnered notable recognition and
prestigious accolades, underscoring the company’s
remarkable achievements:
• Kshitij Jain and Manish Jindal were honoured with the
Economic Times “Global Indian Leaders Awards 2022.”
• Kshitij Jain was recognized with the “Payoneer Global
India Award” in 2021.
• Mindspace has been recognized as a “Top Finance and
Accounting Outsourcing Company” by the prestigious
Clutch badge.
• Mindspace achieved the status of a Platinum Partner with
QuickBooks Online.
Further demonstrating prowess in the digital
marketplace, Mindspace boasts a commendable
100% success rate on Upwork, reflecting its
proficiency and reliability. Additionally, the
successful completion of over 1,000 projects
underscores the company’s expertise and client
satisfaction.
Painting the Future Canvas of Mindspace
Mindspace Outsourcing Services is set to embark on several
strategic initiatives to elevate its services and establish a stronger
presence in the industry. Here’s an overview of the company’s
upcoming endeavours:
• Partnership with Xero and Intuit: Mindspace Outsourcing
Services is gearing up to forge strategic alliances with
Xero and Intuit, leading players in the financial software
industry. This partnership aims to enhance the company’s
capabilities and provide clients with cutting-edge solutions
for their financial needs.
• Support for CFO and Controller in Larger Businesses: The
company is expanding its service offerings to cater to the
specific requirements of larger businesses. By providing
comprehensive support for Chief Financial Officers (CFOs)
and Controllers, Mindspace Outsourcing Services aims to
establish itself as a trusted partner for enterprises seeking
advanced financial solutions.
• Integration of Power BI: Mindspace Outsourcing Services
is embracing data-driven decision-making by integrating
Power BI into its suite of services. This move is designed
to empower clients with powerful business intelligence
tools, enabling them to extract valuable insights from their
financial data.
• Establishing Physical Offices: In a bid to strengthen its
global presence, Mindspace Outsourcing Services is
planning to establish physical offices in key locations such
as the United States, the United Kingdom, and the East
Coast. This expansion strategy aims to facilitate closer
collaboration with clients and partners in these regions.
• Strategic Geographic Expansion with Multicity Operation
Centers: Mindspace Outsourcing Services is strategically
broadening its operational footprint by establishing state-
of-the-art multi-city operation centers. This expansion not
only enhances operational efficiency but also exemplifies
our commitment to delivering unparalleled financial
services across diverse geographical landscapes.
• Financial Digital Transformation: Mindspace Outsourcing
Services is at the forefront of the financial industry’s digital
transformation. By embracing innovative digital solutions,
the company aims to streamline financial processes,
improve efficiency, and provide clients with a seamless and
technologically advanced experience.
Pearls of wisdom
The visionary leaders wrap up the discussion with a
few key messages to all aspiring entrepreneurs:
• Embrace technology wisely: “Technology is a powerful
ally in the business landscape. Embrace it wisely to
streamline your bookkeeping processes, enhance
accuracy, and free-up valuable time. Leverage technology
to work smarter, not just harder.”
• ClientRelationshipsMatter:“Intheworldofbookkeeping,
trust is paramount. Cultivate strong relationships with
your clients by delivering consistent, reliable, and
transparent financial services. Your reputation as a
trustworthy partner will be your greatest asset.”
• Adaptability is key: “The business landscape evolves,
and so must you. Be agile and adaptable in the face of
change. Whether it’s new regulations or market shifts,
the ability to pivot and innovate will set you apart.
• Continuous Learning: “Never stop learning. The financial
landscape is dynamic, and staying ahead requires a
commitment to continuous learning. Stay curious,
embrace new concepts, and empower yourself with
the knowledge needed to navigate the ever-changing
business environment.”
• Ethical Business Practices: “Integrity is non-
negotiable. Uphold ethical standards in your
bookkeeping practices. Trust is hard-earned and
easily lost; a reputation for integrity will set you
apart in the business world.”
• Persistence and Resilience: “Persistence and resilience
are your greatest allies. In the face of setbacks, keep
going. Learn from challenges, adapt, and persevere. True
success often comes to those who endure.”
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As we wrap up this story, we hope that our readers have got lessons
and inspiration from it. Often visit our site to read such insightful and
interesting stories.
A
nupam Mittal, the renowned entrepreneur and
business leader, is the man behind one of the
most popular online matrimonial platforms,
Shaadi.com. Besides being a prominent leader
in the startup ecosystem, he is the judge on the
Indian business reality show Shark Tak India,
telecasted on Sony TV.
He came up with online matchmaking business ideas
when the international market was not so strong in India.
Anupam had to go through numerous obstacles along the
way, but he never gave up. In this article, we will explore
the inspirational story of Anupam Mittal, his overall
journey, his challenges, achievements, and the impacts he
is creating with his experiences.
Early Days and Family Background
Anupam Mittal was born in December 1971 in Bombay (now
Mumbai). His father’s name is Gopal Krishna Mittal, and
his mother’s name is Bhagvati Mittal. He has two sisters.
In 2013, Anupam got married to his long-term girlfriend,
Anchal Kumar. Anchal is a famous model and Bollywood
actor. They are blessed with a girl, Alyssa Mittal.
Education and Career Journey
Since childhood, Anupam has had exceptional talent and
a keen interest in technology. His passion for technology
pushed him to pursue a degree in computer science from the
Massachusetts Institute of Technology. After graduation,
Anupam worked for various tech firms in the US named
Micro Strategy. During this job, Anupam learned a lot about
software and its applications. He wishes to launch his site,
but it is not clear what kind of site he should come up with.
Anupam worked with this company for four years.
Entrepreneurial Journey: The Path Toward Success
In 2000, .com was busted, and the internet industry went
through a crisis. Anupam then moved back to India, as his
company also faced huge losses.
Anupam’s journey in entrepreneurship began with the
establishment of People Interactive, a company offering
tech solutions to businesses. However, due to the limited
resources and uncertain market, the company faced huge
losses. Anupam dealt with these hurdles smartly and
shifted the company’s focus towards the online material
industry.
Anupam worked with Matchmaker; during his interaction,
he learned a lot. While working with them, he realized
that many NRIs were settled in the USA, UK, Canada,
Germany, France, and other nations, but for marriage,
they wished to find their partners in their homeland. He
thought of coming up with something that could connect
the matching partners. And finally, in 1996, he launched
sagai.com, which was later changed to Shaadi.com.
Since then, this platform has helped over three million
people find their life partners. The company serves
worldwide, with its core markets being India, Pakistan,
and Bangladesh.
Presently, Shaadi.com has more than 5 million subscribers
from across the world. After the incredible success of
Shaadi.com, he founded People Group in 2001 and made it
the parent company of Shaadi.com and his other ventures.
Anupam’s entrepreneurial spirit for innovation encouraged
him to explore new business eras.
He launched a mobile app named mauj.com. This was a
messaging app that used to offer video.
In 2007, he decided to venture into real estate with Makaan.
com. It provides a platform for buyers and sellers to meet
their needs at an affordable price.
He entered the travel industry with XOXO Tours. It is a digital
platform that helps travelers connect with other individuals
and build connections.
Anupam is also the co-founder of IMAI ( Internet and Mobile
Association of India). He invested approximately 1 crore in
Ola and holds a 2% stake. In 2018, he established H2 India
and is an active member of LetsVenture Online and Zepo.
Over the years, Anupam has invested in over 200 startup
ventures, including Cafe Zoe, Ketto, Druva, Pretty Secrets,
TaxSpanner, Peel Works, FarEye, and Prop Tiger, to name
a few.
Awards and Achievements
Anupam Mittal has been honoured with numerous awards
and accolades, including the renowned Ernst  Young
Entrepreneur of the Year Award. He is one of the top 50
business-influential people in India, according to Business
Week.
Anupam Mittal’s Net Worth
The total net worth of Anupam Mittal in
2024 was estimated to be 185 crore.
Overall, Anupam Mittal’s journey from a young, inspiring
entrepreneur to a renowned business tycoon is amazing.
He has given a new shape to the online matrimonial and
real estate industries with his hard work, dedication, strong
business ethics, and market understanding.
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ATNEST
PRIVATE LIMITED
Atnest: Bringing the Most Ideal Co-living Space
Filled Up with Premium Amenities
I
n recent years, there has been a significant
increase in the younger population’s demand
for shared spaces. People are searching for
more flexibility in their living style and
more affordable housing due to the high
rental prices of flats and the strict landlords that
accompany them. Thanks to the concept of co-
living, which provides spaces for people who want
to live hassle-free in the privacy of their own home
or with others who have similar interests,
Emerging as a symbol of quality and affordability in
co-living, Atnest is a viable option for millennials and
Gen Z looking for more flexibility in terms of their
living culture and budget-friendly accommodation.
Atnest is a novel endeavour in the co-living space
initiated by the visionary leader, Nehru Babu,
CEO, with the motto to provide a cost-effective and
healthy atmosphere for long and short stays to its
patrons.
Situated in Hyderabad, one of the world’s largest
hotspots for startups, Atnest offers a range of
services to cater to the needs of its clients, including
IT workers, students, and big corporations. Atnest’s
team of highly driven and experienced leaders gives
the brand an advantage in the rapidly expanding real
estate industry thanks to their ability to improvise
concepts and incorporate technology.
Overcoming several obstacles along the way, this
innovative co-space company has accomplished
remarkable success; it currently has over ten
facilities with a combined capacity of about one
thousand beds, located in Madhapur, Raidurgam,
and Kokapet. Atnest is renowned for its fine
accommodations, food, and friendly service in the
Hyderabad IT corridor. Moving forward, Atnest has
entered serviced apartments and budget hotels and
is striving to make a mark in this segment.
The mission of the company is to establish and operate a
minimum of 10 buildings in each of the metropolitan and
Tier 2 cities in India. This goal demonstrates the company’s
commitment to having an extensive presence and impact, as it
aspires to offer its food and hospitality services throughout the
diverse urban landscapes of the country. The mission clearly
shows Atnest’s strategic objective of attaining substantial
coverage and influence in major cities.
Atnest’s Innovative Journey: Marked by Growth and
Adaptability
Since its inception in 2014, Atnest’s entrepreneurial journey in
the business world has been marked by notable growth and
adaptability. Beginning as a partnership firm, the company has
had incredible success, turning into a professional corporate
entity in 2019.
The year 2018 saw the company’s expansion with the operation
of five facilities in Hyderabad, demonstrating its capacity to
flourish and meet rising demand.However, the entrepreneurial
resilience of Atnest truly came to the forefront throughout the
difficult times brought on by the COVID-19 pandemic.
The corporation rapidly responded to the situation by turning
its buildings into isolation centers, significantly enhancing
the community’s quality of life while continuing operations.
Atnest was instrumental in helping 3000 people receive care
and assistance during the most crucial stage of the epidemic by
working with key hospitals in the city.
Going ahead, the company continues its growth and expansion
trajectory. Atnest aims to operate about 17 facilities in Hyderabad
by the end of May 2024, illustrating consistent expansion and a
significant market presence.
Atnest’s journey exemplifies not only business success and
growth but also a dedication to social responsibility and
flexibility in the face of adversity. fThanks to its community
service and ability to successfully negotiate the demands of the
business world, the company portrays itself as a dynamic and
socially responsible entrepreneurial enterprise.
RD – Driving Innovation and Learning
At Atnest, RD is an essential, ongoing process that propels
learning and innovation. By actively participating in research
projects and remaining receptive to fresh perspectives, the team
is dedicated to maintaining its leadership position in the field.
Their dedication to ongoing research is crucial to their long-term
growth and development strategy since it allows the company
to react to industry shifts and offer customers cutting-edge
solutions.
Marketing and Advertising Tactics
As a bootstrapped startup, Atnest’s key advertising and
marketing strategies revolve around staying closely
connected to their audience and ensuring that the needs of
the customers are consistently met. Their marketing efforts
are primarily concentrated in the digital realm. This includes
online advertising, social media marketing, and search engine
optimization (SEO). They aspire to expand their audience
and raise brand awareness by making strategic use of digital
media. They strive to create loyalty among their audience
through content marketing, social media participation, and
other community-building efforts.
Leadership – An Art of Influencing People
Leadership at Atnest is perceived as the art of constructively
influencing others. Their strategy is based on a strong belief in
the company’s vision, and they go above and beyond to make
sure that every employee is on the same page. Their approach
to leadership is based on creating an environment where all
employees are encouraged to participate and work together.
They create an atmosphere where anyone can reach the top
management by encouraging open communication and making
the leadership team available to all organizational levels.
Fostering Flexibility and Inclusivity at Workplace
Rooted in the principles of a family-like environment, Atnest
fosters unity and collaboration in the team. They take pride in
the diversity of the workforce, with 20% of the employees being
senior citizens and an additional 20% representing the female
workforce.
Their work culture places a strong emphasis on diversity and
flexibility, which aligns with their belief in keeping a very lean
organization. This indicates that they place a high value on
candid communication, delegating tasks to team members, and
fostering a sense of camaraderie. Their dedication to fostering
a family-like environment aims to foster a collaborative,
encouraging environment where each member feels respected
and loved.
Notable Achievements and Milestones
Atnest has accomplished significant milestones and gained
recognition thanks to its dedication to excellence, quality, and
customer satisfaction. The company was recently honored with
the Top 10 Co-living Operators award by a reputed publication.
The company’s ability to draw in new capital highlights both
its appeal to investors and its prospects for expansion. These
investments are instrumental in facilitating the planned
expansion and further establishing Atnest as a prominent player
in the co-living space. The company’s trajectory of growth and
expansion indicates a commitment to continuous improvement
and adaptation to market demands. By increasing both the
number of facilities and available beds, Atnest is positioned to
serve a larger clientele and enhance its market presence.
Future Outlook: At a Glance
Looking ahead to the future of the company, Atnest plans to
expand the growth of the business venture, with an emphasis
on sustainable growth as compared to exponential growth. With
new investments, they will be expanding to 16 facilities with
over 1800 beds by the end of May 2024. Their initial expansion
targets include the Bangalore, Chennai, and Pune markets.
But before they fuel their expansion goals, they are giving top
priority to the development of strong internal procedures,
systems, and technology-related issues. This ensures that they
are well-prepared and equipped to maintain the quality of the
services as they grow.
Final Remarks from the Visionary
Nehru Babu wraps up the discussion with his key message to
all the aspirants: “Recognize the value of mentorship in your
entrepreneurial endeavors. Seek out mentors who can offer
insightful insights, impart their wisdom, and help you navigate
the opportunities and obstacles that life presents. Building a
strong advisory network can be a key differentiator in achieving
sustainable growth and success in the dynamic business
landscape. Stay focused and try to get a little better every day.”
Nehru Babu Ch
CEO
TO WATCH-2024
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• Quiet Hiring: We all are living in an era where talent
acquisition is becoming increasingly competitive,
a shift towards more discreet or “quiet” hiring
practices is the new normal. Globally reckoned
employers are now into exploring methods that
prioritize privacy and minimize bias. This includes
leveraging technology-driven solutions such as
blind hiring platforms or discreet networking
opportunities to focus on skills and potential. It is
the best way to foster a more inclusive and diverse
talent pool in your organizations.
• Flexibility with Hybrid work: We know that
pandemic accelerated the adoption of remote work.
Since this, it has led to a fundamental shift in the
traditional office-centric model. And hydrid work is
the future of business world as it offers employees
immense flexibility and liberty to work from
where they are and how they work. Policies have
been altered to make hybrid work more inclusive.
The management across the globe found that
this is a perfect mix that helps people work well,
together, and allows everyone to choose their work
preferences.
• Employee Expectations: Modern day workforce
comprising Gen Z generation want more than just
a paycheck. They crave purpose, opportunities,
and a supportive work environment. To bring them
onboard, companies are meeting these expectations.
They’re heavily investing in employees’ learning
and growth all the time and giving them ways to
move forward in their careers. They’re also being
more flexible about when people work, giving
strong support for mental health, and making sure
everyone feels included in the company. And this is
how businesses are able to harness the power of the
creative streak of the GenZ employees in favour of
their venture.
• Sustainable Performance: Keeping financial
metrics apart, there’s a growing emphasis on
sustainable performance at present. Businesses
are gradually shifting towards a holistic approach
that measures success not only in profitability but
also in social and environmental impact. Leaders
are focused on integrating sustainability goals into
business strategies while fostering a purpose-driven
work culture, and attracting talent aligned with
these values. Indeed, employers increasingly seek
employers committed to sustainability, influencing
their decision to join or stay with an organization.
• A Push for Agility: As industries face rapid changes
and uncertainties, organizations are prioritizing
agility. The ability to swiftly adapt, innovate, and
respond to market shifts is a major determinant
of success. Now the emphasis is on a workforce to
adapt to the embracing change. They need to be
comfortable with uncertainty, and possess a diverse
skill set. For this, the institutions are fostering
a culture of continuous learning, encouraging
cross-functional collaboration, and empowering
employees to contribute ideas and solutions across
various domains.
Change is the only
constant— a common
phrase we hear
frequently. We know
that the evolution of
work culture is in the
phase of a seismic shift,
driven by a dynamic
blend of technological
advancements, changing
employee expectations,
and a heightened focus
on sustainable practices.
We have observed that
the business landscape
continues to transform
where five key trends
are poised to reshape
the talent pool in the
upcoming decades.
With this article, we
are redefining how
organizations can
effectively attract, retain,
and empower their
respective workforce to
increase the graph of their
business growth.
BCM Inhouse
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5
As a key takeaway,
we would assert that
the future of work isn’t
just about adapting
to the change. The
business world needs
to embrace it, thrive
within it, and leverage
these transformations
to build a workforce
that could use it in
favour of them in the
years to come.
w
ays that
will shape
the future
of work
trends
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BLACK LEO MEDS
PIONEERING CHANGE IN THE PHARMACEUTICAL
LANDSCAPE UNVEILING A VISIONARY STRATEGY
AMID INDUSTRY CHALLENGES
I
n an era rife with uncertainties and challenges, Black Leo Meds emerges as a
beacon of innovation, ready to reshape the pharmaceutical and cosmetics
industry. Founded on the ethos of visionary leadership and inspired by the
legacy of Andrew Carnegie, the company sets out to dominate the market
by strategically acquiring brands and introducing groundbreaking products.
At the helm is Utkarsh Chourasiya, the Co-Founder and MA Director,
orchestrating the company’s journey towards transformative success.
A VISIONARY INVESTMENT GROUP
Black Leo Meds is not your conventional pharmaceutical company. It is an
emerging investment group with a grand strategy – to be a major force in the
industry, determining its future. The company’s focus extends beyond mere
growth; it seeks to acquire brands in both pharmaceuticals and cosmetics,
aiming to revolutionize the industry’s landscape fundamentally.
THE CARNEGIE LEGACY: INSPIRING INNOVATION
The inception story of this groundbreaking venture draws inspiration from the
late Andrew Carnegie. His timeless philosophy, tailored to the 21st century,
serves as the cornerstone for Black Leo Meds. The company
translates Carnegie’s principles into a modern context,
infusing innovation and relevance into its business
model.
CRAFTING A DYNAMIC TEAM THROUGH PASSION
AND PRECISION
Building a team that mirrors the company’s
vision requires precision and passion. Utkarsh
Chourasiya sheds light on the meticulous
process, emphasizing a commitment to
not settling for the status quo. Each team
member is handpicked for their unique
skill set and an unwavering dedication
to realizing the untapped potential
within the industry.
NAVIGATING THE CHALLENGES OF
COVID-19
The company was born in the face
of the COVID-19 crisis, Black Leo
Meds demonstrated resilience
and adaptability. Recognizing
the industry’s seismic shifts, the
company’s pre-existing commitment
to quality standards, such as WHO-GMP
certifications, positioned it as a stalwart. Ensuring
the availability of essential drugs for prevention,
cure, and recovery is an essential part of patient
care and the company stands as a pillar of support
during these challenging times.
Utkarsh Chourasiya
Founder  CEO
EMBRACING TECHNOLOGICAL ADVANCEMENTS FOR NOVEL
SOLUTIONS
Staying ahead of the curve, Black Leo Meds synchronizes
with the latest technological advancements. The company’s
commitment to introducing novelty products, a first in
the Indian market, showcases its dedication to marrying
established platforms with innovative interventions, creating
a unique market presence.
ENSURING QUALITY THROUGH DECADES OF EXPERTISE
Quality is non-negotiable for Black Leo Meds. The company
has established robust systems and protocols crafted by team
members with over three decades of industry experience.
This dedication to quality sets the foundation for delivering
superior products and services.
SERVING CLIENTS WITH CONFIDENTIALITY AND CREDIBILITY
While client names remain confidential, Black Leo Meds
serves them with utmost integrity. Timely order fulfillment
and credit-worthy contracts for contract manufacturing
underscore the company’s commitment to building trust.
Physicians and doctors are engaged through the provision
of accurate information and valuable feedback from
prescriptions.
QUANTUM GROWTH THROUGH STRATEGIC RD
Research and Development (RD) and Formulation 
Development (FD) are not just requirements; they are
integraltoBlackLeoMeds’mission.Thecompany’sdedication
to bringing novelty items to the market necessitates extensive
RD efforts, setting it apart from competitors.
BUILDING A BRAND IDENTITY THROUGH STRATEGIC
MARKETING
Black Leo Meds invests in media platforms to create a robust
brand identity. The primary focus is on building relationships
with physicians, offering value, and incorporating their
invaluable feedback into the company’s operations.
COMPETITIVE EDGE: BEYOND REVENUE GENERATION
In an industry driven by Intellectual Property (IP) and
trademarks, Black Leo Meds holds a unique position. Unlike
competitors focused solely on steady growth, the company
aggressively acquires existing brands, saturating the market,
and establishing direct ownership.
NURTURING INNOVATION THROUGH STRATEGIC RD
INITIATIVES
Black Leo Meds’ commitment to innovation is underscored by
its robust Research and Development initiatives. Recognizing
the ever-evolving landscape of pharmaceuticals, the
company invests significantly in cutting-edge RD efforts.
This commitment goes beyond meeting industry standards;
it positions Black Leo Meds as a pioneer, ready to introduce
ground breaking products. By fostering a culture of curiosity
and exploration within its RD teams, the company ensures
a steady stream of innovative solutions, further solidifying its
position as a trailblazer in the industry.
KEY OFFICIALS: LEADERS STEERING THE SHIP
“Utkarsh Chourasiya - Co-Founder/ MA Director; Nirdosh
Arora - Co-Founder/Business Development Director.”
Utkarsh Chourasiya, the Co-Founder and MA Director,
plays a crucial role in securing capital for acquisitions and
structuring deals.
Nirdosh Arora, the Co-Founder and Business Development
Director, is responsible for securing acquisition targets.
Industry experts, kept confidential for now, round out the
team.
EMPLOYEE MOTIVATION AND RECOGNITION
Preventing burnouts and maintaining efficiency, Black
Leo Meds celebrates top performers by recognizing and
rewarding their achievements. The company goes the extra
mile by inviting them and their families to luxurious retreats,
fostering a culture of excellence.
FORGING AHEAD: ACHIEVEMENTS AND FUTURE GOALS
Though an emerging group, Black Leo Meds has secured
relationships with investors and financial institutions. Term-
sheets with various companies for acquisition showcase the
company’s commitment to its vision. Looking forward, the
goal is nothing short of dominating the market, becoming the
largest trademark holder on the continent with over $2 billion
in assets under management.
WORDS OF WISDOM: DREAM BIG AND TRANSFORM
Utkarsh Chourasiya, Co-Founder and MA Director of
Black Leo Meds urges aspiring entrepreneurs, “We never
exceed our wildest aspirations, so dream big and transform
yourselves into that which will turn your dream into reality.
Embrace the journey, and success will follow.”
COLLABORATE FOR INDUSTRY BETTERMENT: A CALL TO
INVESTORS AND BUSINESS OWNERS
The group specializes in forming new relationships with like-
minded entities to collaborate for the industry’s betterment.
Investors seeking visionary partners and company owners
exploring transformative collaborations are encouraged to
connect with Black Leo Meds
SUSTAINABILITY AT THE CORE: ETHICAL PRACTICES AND
ENVIRONMENTAL RESPONSIBILITY
As Black Leo Meds forges ahead on its ambitious journey,
it places a strong emphasis on sustainability and ethical
business practices. The company recognizes its responsibility
to contribute positively to the environment and society.
From eco-friendly packaging solutions to ethical sourcing
practices, Black Leo Meds integrates sustainability into its
core operations. This commitment not only aligns with the
growing consumer demand for responsible businesses but
also positions the company as a conscientious player in the
pharmaceutical and cosmetics industry. In an era where
corporate responsibility is paramount, Black Leo Meds sets
itself apart by prioritizing sustainability as a fundamental
pillar of its business ethos.
In conclusion, Black Leo Meds stands as a testament to the
fusion of a startup’s innovative spirit and an investment
consortium’s strategic acumen. With Utkarsh Chourasiya
steering the ship, the company is poised to redefine the
pharmaceutical landscape, leaving an indelible mark on the
industry’s future.
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DISTINCT WAYS
TO CULTIVATE A
THRIVING
WORKPLACE
9
What is your definition of creating a thriving workplace? Well, it isn’t just about
ping pong tables and free snacks (although those can be nice perks!). Basically,
a thriving workplace is all about fostering an environment that prioritizes the
physical, mental, and emotional well-being of its employees. And we all know
how happy and content employees can create a way to improve productivity,
engagement, and retention.
BCM Inhouse
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29
1. Establish Work-Life Balance: First, make sure to
provide flexible work hours for your team members. To
add a cherry on top of it, offer remote work options,
flexible schedules, and generous paid time off to allow
employees to control their time and meet their personal
needs.
2. Disconnect and recharge: If you wish to see
your business thrive, just allow your employees to set
boundaries and truly disconnect after work hours. This
could involve setting expectations for email response times
and discouraging late-night communication. Moreover, try
to provide access to mental health resources and initiatives
like mindfulness programs or Employee Assistance
Programs (EAPs) to help them process their emotions in an
efficient way while reducing their stress.
3. Prioritize Physical Health and Wellness: Investing
in an ergonomic workplace could do wonders to your goal.
You need to invest in comfortable furniture, adjustable
workstations, and proper lighting to prevent physical
discomfort and injuries. Along with that, you can offer
healthy choices in your own cafeteria or break room, and
encourage breaks for movement and activity. Also, you can
host fitness challenges, health fairs, or on-site fitness classes
to promote healthy habits and employee engagement.
4. Establish open communication and
Psychological Safety: Try to create a culture of open
communication by encouraging employees to voice their
opinions, concerns, and ideas without fear of judgment
or reprisal. But before this, you need to ensure active
listening on your own. Leaders should make time to listen
to employees’ concerns and feedback, and take their input
seriously.
5. Build trust and psychological safety: The
management of your company should focus on team
building activities and social events to help employees feel
connected and comfortable with each other.
6. Recognize and Reward Achievements:
One should regularly acknowledge and
appreciate employees’ contributions under any
circumstances. Either it could be through verbal praise,
written recognition, or performance-based rewards.
7. Offer opportunities for growth and development:
Provide training programs, mentorship opportunities, and
career development resources to help employees reach
their full potential. Alongside this, celebrating successes
together like organizing team outings, recognition events,
or company-wide celebrations to boost morale and foster a
sense of community make a huge difference.
8. Lead by Example: Leaders should set the tone by
taking care of their own health and well-being. This could
involve practicing work-life balance, prioritizing physical
activity, and openly discussing mental health challenges.
Promote a culture of respect and inclusivity. Leaders
should be mindful of their own biases and actively work
to create an environment where everyone feels valued and
respected.
9. Be authentic and transparent: The most
significant one would be leaders being open and honest
with employees concerning the company’s goals,
challenges, and successes. It is a well-asserted fact that
by implementing these strategies companies could create
a work environment that is not only productive but also
supportive, healthy, and fulfilling for their employees.
In this exclusive article, we have brought to you 5 key strategies to cultivate a healthy and balanced work environment for
your team that could bring you phenomenal business success:
The key takeaways
No one can deny the fact that happy and healthy employees are more engaged, productive, and
likely to stay with your company for the long haul. Investing in your employees’ well-being is an
investment in your company’s success. So, start creating a thriving workplace today! We hope this
blog provides valuable insights and actionable steps for companies looking to cultivate a healthy
and balanced work environment. What is worth mentioning is the fact that a thriving workplace is
a win-win for both employees and employers!
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www.businessconnectindia.in | Vol. 3 | Issue 5 December 2020 INDIA 8
siliconindia | |August 2019
19
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A GROWTH CATALYST, DEDICATEDLY EMPOWERING
THE SOCIO-ECONOMIC UPLIFTMENT OF THE RURAL POOR
CELEBRATING 15 YEARS OF TRANSFORMATION: PAVING THE WAY FOR RURAL PROGRESS
In 2009, Mr. Vinod Kaushik, a seasoned professional with over 30 years of experience in the development sector, embarked on a
remarkable journey to navigate the challenges of rural India. His vision and strategic approach have shaped the trajectory of End
Poverty (EP) over the past 15 years, leaving an indelible mark on the lives of thousands.
THE FORMATIVE YEARS OF DEVELOPMENT
End Poverty (EP) commenced its transformative journey in the economically marginalized Mewat Region of Rajasthan, dedicating
over a decade to holistic advancement and addressing the root causes of poverty. In the formative years, EP focused on foundational
education for girls, empowering women through skills in stitching, tailoring, and local crafts, and fostering the formation of Self-
Help Groups (SHGs). Simultaneously, the younger generation received training in computer literacy, insurance, civil construction,
and self-employment.
EP showcased environmental stewardship through a
pioneering geo-hydrological survey, strategically placing
submersible pumps for accessible water sources and
promoting rainwater harvesting. A symbolic horticulture
farm illustrated sustainable practices, while innovations
in dairy farming enriched the landscape. EP also played
a pivotal role in catalyzing governmental infrastructure
projects, crisscrossing the region with road networks and
injecting vitality into Mewat’s aspirations. This initial
journey underscores EP’s unwavering commitment to
creating enduring positive impacts on both individuals and
the community.
SUSTAINING COMPREHENSIVE IMPACT
Over the years, EP’s invaluable insights, multifaceted
engagement, and the support of over 100+ donor entities
have propelled the enhancement of its comprehensive areas
of Dairy Development, Sustainable Agriculture, Climate
Change, Rural Development, and Education programs.
End Poverty, since its inception, has been operating at varied
locations. With the mandate to work across India, it has/had
its presence in 9 states, namely Rajasthan, Madhya Pradesh,
Haryana, Karnataka, Uttar Pradesh, Gujarat, Uttarakhand,
Goa and Delhi. EP firmly believe that for change to take root
truly, it must extend beyond direct interventions and become
a shared aspiration that unites all stakeholders. Hence, its
Model of Change, the blueprint through which it executes,
encapsulates the overarching belief that by nurturing a
receptive mindset, fostering collaborative communities,
building capacity, and leveraging technology, we can create
lasting change within the rural community.
Over the course of its 15 years of operation, EP has diligently
pursued comprehensive and strategic projects aimed at
fortifying community-led development initiatives, thereby
fostering positive transformations in social, economic, and
environmental realms within its operational areas. Through
a holistic approach to development, EP has made significant
strides, touching the lives of over 100,000 rural households.
These efforts have extended across more than 850 villages,
spanning nine diverse Indian states.
On completing 15 years of serving selflessly to society,
Mr Vinod Kaushik, CEO of End, Poverty, reminisces his
journey -
“In my more than thirty years working in the
development field, I’ve learned that the heart of
India’sprogressliesinupliftingitsvillages. Alongwith
this, I also observed the most prominent challenges
which rural communities face, causing a hindrance
in their progress; these are things like jealousy,
price sensitivity, a stagnant mindset, the paradox of
education without relevant skills, lack of diligence,
and limited access to government resources tailored
to the needs of rural populations. That’s why, fifteen
years ago, with the generous support and guidance
of the Gen Initiative, I started End Poverty. With
the only goal to be a catalyst in bringing change in
rural areas by helping individuals and communities
who are eager to improve their lives. Today, as we
celebrate 15 years of this journey, I can proudly say
that we have come a long way, all thanks to my talented
team and wonderful partners. Our aim has always been to
make life better for people in rural areas. And that’s what
we’re going to keep doing.”
EP’s impact resonates deeply in agriculture and dairy farming
communities, where it collaborates closely with six Farmer
Producer Organizations (FPOs). These partnerships have
not only enhanced dairy and agricultural practices but also
empowered farmers with tools, knowledge, and resources
to thrive in their endeavors within the EP’s operational
areas. By strategically engaging with local stakeholders and
leveraging innovative solutions, EP continues to serve as
a beacon of sustainable development, catalyzing positive
change and fostering resilience within the communities it
serves.
In addition to its core focus areas, End Poverty has also been
proactive in addressing issues of Climate Change through
varied programs focusing on groundwater rejuvenation and
the promotion of sustainable agriculture practices among
farmers. By integrating climate change resilience into its
development projects, EP not only mitigates the adverse
effects of environmental degradation but also empowers
communities to adapt and thrive in the face of changing
climatic conditions.
Education is another key focus area for EP, as it recognizes
the transformative power of education in breaking the
cycle of poverty through various initiatives such as school
infrastructuredevelopment.EPhasworkedtoimproveaccess
to quality education in rural areas. By investing in education,
EP aims to empower individuals by providing them with an
environment which can help them harness the knowledge
and skills needed to pursue better livelihood opportunities
and contribute to their communities; development.
Overall, End Poverty’s holistic approach to development,
coupled with its commitment to innovation, collaboration,
and sustainability, positions it as a key player in the field of
rural development in India. With a track record of impactful
interventions and a vision for the future, EP continues to
be a catalyst for positive change, transforming lives and
communities for the better.
As EP celebrates 15 years of transformation this year, it
continues to evolve and adapt to the ever-changing needs of
rural communities, striving to make a lasting difference in
the lives of those it serves. The journey of End Poverty is a
testamenttothepowerofvision,dedication,andcollaborative
efforts in paving the way for rural progress and breaking
the chains of poverty. Here’s to 15 years of transformative
impact and the ongoing commitment to building a brighter
future for rural India.
END POVERTY
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This question has always raised debates across the business world: Does workplace
diversity play an important role in productivity? We all are surviving through a
hypercompetitive landscape, where organizations are constantly searching for
ways to gain an edge. And workplace diversity is a highly discussed factor, but
does it truly translate to a boost in productivity? In response to this, like most
aspects in companies, boosting productivity is complex that comes from potential
pros and cons to consider. We wanted to be the proponents of diverse workplaces
to highlight several potential benefits via this exclusive article:
1. Escalated Creativity and Innovation: Teammates hailing from diverse backgrounds bring together a wider
range of experiences and perspectives to the table. It is said to be leading out-of-the-box thinking and novel
solutions. It is truly amazing that in 2019 one of McKinsey’s studies found that companies with the highest
levels of ethnic and cultural diversity on their executive teams were 36% more likely to outperform the less
diverse teams on profitability.
2. Improved Problem-Solving: It is well elucidated by business leaders that when diverse viewpoints are
represented, blind spots are less likely to be missed. In a collaborative way, it can lead to more comprehensive
and effective solutions to complex challenges.
3. Better Employee Engagement: It goes without saying that if employees feel valued and included regardless
of their background, they tend to be more motivated, engaged, and invested in their work. And better
employee engagement could directly translate to increased productivity and loyalty. Integration and inclusion
are crucial for unlocking the full potential of diversity.
Well, we talked about the pros of having workplace diversity and now we need to talk of the cons. Here are
some potential roadblocks that could cause ruckus too in a work environment of which the management needs
to be in the know:
How does workplace
diversity scale business productivity?
BCM Inhouse
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1. Communication and Collaboration Challenges: Impactful communication and collaboration skills are
essential for diverse teams to thrive along the business trajectory. Training and support can be necessary to
ensure everyone feels heard and understood.
2. Bullying and biasness: Even in diverse workplaces at big establishments, bullying and biased behavior
can rear its head. And this could directly hinder inclusivity and collaboration. Well, if management keeps
addressing and combating bias, it could maximize the benefits of diversity.
3. Measuring the Impact: Quantifying the precise impact of diversity on productivity remains a complex
challenge. Factors like company culture, industry, and leadership styles all play a role.
The takeaways
It is a direct cause-and-effect relationship between diversity and productivity.
And it is difficult to pinpoint with evidence that increasingly supports the notion
that diversity, coupled with effective inclusion practice. Workplace diversity is a
great driver of innovation, problem-solving, and eventually brings business success.
Companies that create diverse and inclusive environments are not only doing the
right thing for their employees but also building a strong foundation for themselves
in this competitive world in the long run. Remember, creating a truly diverse and
inclusive workplace is an ongoing journey, not a destination. By fostering a culture
of mutual respect, open communication, and continuous learning, organizations can
harness the immense power of diversity and unlock their full productive potential.
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QUICKSHIP
GLOBAL EXPRESS PVT. LTD.
Elevating the Express Global Logistics
Experiences with Seamless, Reliable, and
Unparalleled Services
AMAR KHURANA
Founder  Chief Customer Success Officer
L
ook for an express logistics service provider, and you will have
endlessoptions.Butwhenitcomestopartneringwiththecream
of the crop, a company that understands the complexities of
cross-border logistics operations and provides a reliable and
smooth solution is quite tricky. One such efficient logistics company
navigating the complexities of international trade, QuickShip Global
Express Pvt. Ltd., is creating new horizons in cross-border express
courier, cargo, FBA Logistics, and e-commerce fulfillment  logistics
services and unlocking new possibilities for clients.
Headquartered in New Delhi, QuickShip is India’s First digitally
enabled Express Courier  cargo consolidator for DHL, FedEx, TNT,
USPS, Aramex, Inext, Purolator and Canada Post. As a global express
courier, e-commerce  FBA specialist, it is committed to providing
unparalleled services that empower businesses and enhance the
international logistics experience.
The expert behind QuickShip is Amar Khurana, the writer of Amazon’s
best-seller: “Selling Beyond Borders”, the industry leader and award-
winning cross-border logistics and regulatory expert with 24 years of
experience and who established Inext Group 15 years ago.
After the success of Inext Logistics In 2016, QuickShip embarked
on a visionary entrepreneurial journey, which has evolved into an
incredible voyage of creativity, tenacity, and worldwide influence.
Armed with a dedication to quality, QuickShip rapidly adapted to the
changing needs of the business community and Individual clients by
utilising cutting-edge technologies, strategic alliances, and a people-
first approach.
Initially, they focused on building a solid infrastructure on a national
and worldwide level. Beyond establishing a physical presence, they
fostered an in-depth understanding of Global markets, policies, and
the finer points of international trade. This groundwork allowed them
to position themselves.
As not just a service provider but a true catalyst for business expansion
beyond borders.
In addition to being an express logistics innovator, QuickShip is a
force for transformation, and the experience serves as a witness to the
countless opportunities that await in the dynamic world of Global
business.
Unlocking the Power of Express Courier and Cargo Excellence
The secret to QuickShip’s success is its expertise in express courier and
cargo services, which cover more than 220+ countries. This assures
effective, safe, and timely delivery worldwide. Strengthened by a
self-established network in critical regions, including the UAE, USA,
Canada, Australia, Europe, and the UK, QuickShip’s Express Courier
and Cargo solutions offer a reliable and rapid transit experience,
instilling confidence in businesses to navigate the global
marketplace with ease.
What Makes QuickShip a”Shining star of logistics?
QuickShip is more than simply a service provider;
they are architects of global opportunities, facilitators
of growth, and partners in success. It is a gateway to
global possibilities. QuickShip is your go-to partner for
negotiating the intricacies of international trade, whether
youareanIndianMSMElookingtoexpandinternationally,
a multinational organization or an individual looking for
dependable cross-border solutions. A few distinguishing
characteristics of QuickShip are as follows:
Global Presence: With more than 16 offices strategically
located throughout India, QuickShip has a vast domestic
network that guarantees timely and effective service. They
have dedicated offices in the USA, Canada, and Hong
Kong that enhance their worldwide operations.
Strategic Partnerships: QuickShip takes immense pride
in strategic alliances and partnerships with leading
logistics brands, including DHL, FedEx, UPS, Purolator
Canada Post, Inext, and Aramex. These collaborations
demonstrate their dedication to providing superior cross-
border logistics. Collaborating with industry giants grants
QuickShip access to cutting-edge technologies, extensive
global networks, and best practices, ensuring the highest
service standards.
E-commerce and FBA Logistics: The E-commerce and
FBA Logistics and Fulfillment services simplify cross-
border trade complexities, enabling businesses to tap
into new markets. QuickShip’s solutions are designed to
address the specific needs of online businesses and offer
end-to-end support, allowing sellers and buyers to transact
across international borders.
Digital Portal: QuickShip’s digital platform offers a user-friendly
interface for tracking shipments, getting real-time updates, and
effectively managing logistics operations.
Customer-centric Approach: QuickShip’s success is intertwined
with its client’s success. They adhere to a customer-centric
stance, perceiving each interaction as an opportunity to forge
enduring connections. Their customer-centric approach is
a cornerstone of their identity, and they are committed to
exceeding expectations, understanding individual requirements,
and offering personalized service.
Industry Evolutions: Over the Years
Over time, startups have experienced tremendous shifts,
particularly in the e-commerce and logistics sectors. A visible
trend has favored adopting cutting-edge technology, like
automation, data analytics, and artificial intelligence, to
optimize processes, boost productivity, and promote customer
satisfaction. Additionally, startup companies are increasingly
adopting and incorporating sustainable practices.
People-centric approaches align with evolving market demands
and societal expectations.
Continuous Innovation: The secret behind Quick Ship’s victorious
Journey
Enable QuickShip to remain at the forefront of industry trends,new
market needs, and technological breakthroughs.
Investing in Continuous Innovation  learning allows the firm to
develop and implement cutting-edge solutions that enhance the
efficiency of its logistics services. It empowers them to stay agile
and adapt swiftly to the evolving demands of the global business
environment. Moreover, Continuous Innovation  learning
are essential for improving operating procedures, regulatory
compliance, and sustainability practices. It is consistent with
the mission to provide innovative solutions that benefit both the
industry and the environment, in addition to logistical services.
Amar’s Take on Leadership Approach
Leadership at Quickship is not merely a position; it’s a
dynamic commitment to inspire, empower, and drive team
achievement. It’s about creating an environment that values
creativity, teamwork, and continuous growth. As CMD,
Amar sees leadership as a journey of guiding our team
towards excellence, ensuring every member contributes
their best, and collectively steering Quickship towards new
horizons in the ever-evolving logistics landscape.
A Vibrant Synergy of Teamwork, Creativity, and
Commitment
The work atmosphere at QuickShip is a fusion of teamwork,
creativity, and a shared commitment to quality. They
prioritize creating a culture where teamwork is the key
to success, ideas are welcomed, and each team member is
appreciated.
Quick Ship’s Forthcoming Plans
QuickShip plans to leverage emerging technologies, forge
critical alliances in the logistics industry, and consistently
enhance its service offerings. By 2025, they aspire to establish
their own offices in Australia, Germany, and the UK following
the successful launch of their USA office this year. The potential
of cross-border logistics, expected to develop significantly in
the upcoming years, excites them even more. By utilizing their
vast network, state-of-the-art technology, and dedication to
providing unmatched service, they envision contributing to and
benefiting from the expansion of cross-border logistics. Their
aspiration to become a listed company in the next three years
aligns seamlessly with their ambition to play a pivotal role in
the evolving and flourishing cross-border logistics sector.
Proudest Moments and Milestones
QuickShip has created impactful partnerships with industry
giants like DHL, FedEx, and Purolator. These collaborations
have empowered QuickShip to provide unparalleled services,
ensuring swift, reliable, and seamless logistics solutions for
our clients. Especially noteworthy is their foreign expansion
into the USA, Canada, and Hong Kong, which demonstrates
their determination to create a worldwide presence.
Along with its physical expansion, QuickShip Global Express has strategically partnered with major players in the Australian, German,
and UK logistics industries. Additionally, their partnership with WCA Parcel and Ecommerce Network is a notable accomplishment
that allows them to access an extensive network of logistics experts and bolster their position in the rapidly growing e-commerce
logistics market.
Words of Wisdom to Aspiring
Entrepreneurs
“Embrace challenges as
opportunities, stay innovative,
and surround yourself with a
supportive team. Success lies
in reaching goals, enjoying
the journey, and learning from
every experience. Continue to
be passionate and determined,
and follow your business
drive.”
TO WATCH-2024
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From Parking to Retail:
HOW DO AIRPORTS
MAKE MONEY?
Airports are not just places where planes land and take off. They are complex
businesses with multiple revenue streams. From retail and food concessions
to parking fees and airline fees, airports generate revenue from a variety of
sources. In this article, we will explore how airports actually make money
and provide examples to illustrate the different revenue streams.
What are the sources of income for airports?
Airline Fees
One of the primary revenue streams for airports is airline fees. Airlines pay landing fees, gate fees, and terminal fees to use the
airport’s facilities. Landing fees are based on the weight of the aircraft and the distance flown. Gate fees are charged for the use of
a specific gate, and terminal fees cover the cost of using the terminal facilities. These fees can vary depending on the airport, and
some airports offer incentives to airlines to encourage them to use their facilities.
For example, Hartsfield-Jackson Atlanta International Airport, the busiest airport in the world, charges landing fees based on air-
craft weight and charges a gate fee of $8.60 per 1,000 pounds of maximum gross weight. The airport also charges a terminal fee of
$4.50 per passenger.
Retail and Food Concessions
Airports also generate revenue from retail and food concessions. These businesses pay rent to the airport to operate in the terminal
building. The airport benefits from the rent and a percentage of the revenue generated by the businesses. Retail and food con-
cessions are popular with travelers, who often have time to eat before their flights. This revenue stream has become increasingly
important for airports as airlines have cut back on services such as in-flight meals.
For example, John F. Kennedy International Airport in New York has a variety of retail and food options for passengers, including
luxury brands such as Hermes and Gucci, as well as fast-food chains like McDonald’s and Dunkin’ Donuts. These businesses pay
rent to the airport, and the airport receives a percentage of their revenue.
Parking Fees
Another revenue stream for airports is parking fees. Airports charge passengers for parking their vehicles in the airport parking
lots. The fees can vary depending on the duration of the parking, the location of the parking lot, and the level of service provided.
Some airports offer valet parking and shuttle services to and from the terminal building.
For example, Dallas/Fort Worth International Airport charges $24 per day for parking in the terminal garages and $10 per day for
parking in the remote parking lots. The airport also offers valet parking for $34 per day.
Rental Car Concessions
Rental car concessions are another revenue stream for airports. Rental car companies pay rent to the airport to operate in the airport
terminal building. The airport also receives a percentage of the revenue generated by rental car companies.
For example, Los Angeles International Airport has rental car companies such as Hertz, Avis, and Enterprise operating in the air-
port terminal building. These companies pay rent to the airport, and the airport receives a percentage of their revenue.
Traveling
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Advertising
Airports also generate revenue from advertising. Companies pay to advertise their products or services in the
airport terminal building. The airport benefits from the revenue generated by the advertising For example,
Heathrow Airport in London has advertising space throughout the terminal building, including billboards,
digital screens, and sponsorship opportunities. Companies pay to advertise in these spaces, and the airport
receives revenue from the advertising.
Conclusion
Airports are complex businesses that generate revenue from a variety of sources. Airline fees, retail and food concessions, parking
fees, rental car concessions, and advertising are just a few of the revenue streams for airports. Each revenue stream requires careful
management and planning to ensure that the airport is profitable. Understanding how airports make money is important for pas-
sengers and airline industry professionals, as it provides insight into the challenges and opportunities facing the aviation industry.
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Ryma Foodtech
Empowering the Cultivation of Prawns Naturally
and Locally
I
ndia is the third-largest producer of marine products like fish and
prawns. 7.96% of the world’s total fish production comes from it.
Steadily turning into a significant part of the nation, the sector employs
more than 28 million people. For the past ten years, India’s marine
production has been rapidly increasing, and it is expected to have 100–150%
growth within the next 5 years.
Ryma Foodtech Private Limited, an Odisha-based firm, is empowering the
natural shrimp industry in India with its innovative approach. Established
in 2022, the company has a strong founding team led by a management
expert, Amit Ailawadi, an IT expert, Jyoti Ailawadi, and an Aquaculture
expert, Dinakrushna Nayak.
Backed by a blend of modern technological advancements, principles, and
practical experience in the cultivation of prawns and aquaculture locally in
their own 25 ponds spread across 20 acres of land, Ryma envisions bringing
a ray of hope for the local farmers where they can learn, earn, and grow.
The company is working on this project at various levels.
Ryma strives to break the existing nexus in the aquamarine sector of India.
Farmer’s Dilemma !
Make no mistake: For a small-time farmer, cultivating shrimp is a mammoth
task.
Like any other crop, they require certain elements like ponds, seeds, feed,
medicine, oil, and equipment.
The first step of production is to plant the seeds, the tiny offspring of the
crops, in specific, parameter-maintained water ponds. After the seeds are
planted, it is vital to provide them with feed, frequent medication, and
constant monitoring to ensure that there are no viruses, germs, or other
issues that could affect the crop.
Next, a water-churning device called an “aerator” is used. Churning water
is needed as it provides the fish with sufficient oxygen to breathe and makes
the pond habitat similar to that of the ocean.
These machines run either on oil or electricity. Primarily, wherever these
crops are being produced, like in Odisha or Kerela, they do not have top-
notch infrastructure. People in rural areas mostly use generators because
either there is no electricity or it can’t be relied upon.
Furthermore, in this business, there is a nexus for everything!
For instance, usually farmers lack the funds needed to purchase seeds and
turn to product distributors. The distributors provide them with seeds on the
condition that they get additional money over the actual price of the seeds
(as interest) post-production. Farmers have to make similar arrangements
for other necessities like feed, medicine, and oil.
The exploitation of farmers doesn’t end here. After successfully growing the
crop, they need to sell their harvest.
Then comes the friendly neighbour exporter in
the picture. (Well, not so friendly, actually.)
These exporters provide the necessary additional
funding for the farmers’ crops on the further
condition that the crop, once fully grown, would
be sold to only them at the ongoing prevailing
rate. This rate is decided by none other than the
exporters themselves.
To get a better understanding of how farmers
are exploited in this process, Ryma’s Managing
Director, Amit Ailawadi, explains further through
an example:
Prawn’s Crop is usually grown 2–3 times a year.
The first season or culture is from January to
April. Due to the low life cycle of the crop, farmers
can’t hold it after the fourth month of production.
Amit Ailawadi
Founder
Meet the Leaders
Amit Ailawadi, the Founder of “Ryma Foodtech”, is driving the
achievements of the firm forward and essentially rewriting its
success story. With 22 years of rich experience in Management
and IT, he has a proven track record of spearheading projects
for prestigious firms like Microsoft, Cisco, and Hewlett-
Packard as Global IT head for a multinational company.
He is also the founder of an IT firm, Ryma Technologies, and a
construction company, Rapid Bricks Inc.
In 2020, with the thought of doing something for the welfare
of society, he started research in the interiors and untouched
parts of India. He realised that there are many small,
underdeveloped villages with limited resources. To empower
them, he came up with the idea of Ryma Foodtech and piloted
it in 2022.
Along with
him, his team
is led by Jyoti
Ailawadi and
Dinakrushna
Nayak.
Jyoti is a graduate of Delhi University. With 22 years of
experience, she is the Marketing and Operations head for
Ryma Technologies (USA and Canada), and she has been
actively leading the team to new heights.
Dinakrushna, with 15 years of experience in aquaculture,
is the local face of management for the project in the
state of Odisha.
Ideally, if the crop’s total cost
per kg, including production
and interest, comes to Rs. 250,
the market price of the raw
crop should be Rs. 350. This
ensures a Rs. 100 margin, or
a handsome profit margin of
40%, for farmers per season.
However, since the exporters
know the restriction of farmers
to hold the crop beyond the
given timeframe, they would
smartly reduce the prevailing
price drastically to say Rs. 240
(a price even less than the cost incurred by the farmers).
A farmer at this time would have no choice other than to sell
the crop at a loss and fall back into debt by having to pay a
balance of Rs. 10 along with interest to be adjusted during the
next season.
During the next crop season, the price would normalise
back from Rs. 240 to Rs. 350. Clearing the farmer’s financial
backlog, making them content, and ensuring they would look
forward to planting the third crop as well, not realising that
the exporters are managing the show and keeping them under
their clutches.
It should be noted that the actual retail price at which
the crop is sold overseas after processing comes to
approx. Rs. 5500–6000 per kg (15 to 20 times higher
than the farmer’s selling price) and has little or no
impact on the procurement price for exporters.
The idea of Ryma Foodtech was conceptualised to break this
nexus, and they are doing this by uniting small farmers along
with them.
Mr. Ailawadi says, keeping global demand and the current
growth rate in consideration, this is undoubtedly one of the
most promising and profitable ventures for the near future,
and in the process, their organisation intends to work for the
welfare of the common farmers of the country as well.
So far, in a short span of 8 months since its inception, 200+ small
farmers owning over 275 farms have associated themselves
with Ryma for efficient management, bulk pricing advantages,
and assurance of a fair market price for their respective crops.
“The team contacts the manufacturers directly to
negotiate the best prices for input products like feed,
seed, and medication. This lowers the operating costs
and thus leaves greater room for margins. This is more
like a communal advantage for farmers. So this is the
whole idea,”
adds the visionary leader.
Project Plan: At a Glance
• Phase 1: Initial Self-Farm Creation and Farmer Pool
(Already Complete)
• Phase 2: Focus on Sizeable Production (Currently in
progress)
• Phase 3: Exporting the Product
• Phase 4: Sharing and Replicating the Business Model with
State Governments and Administrative Bodies
• Phase 5: Crowdfunding and Global Expansion
As a part of Phase 4, Mr. Ailawadi and his team are already
in discussions with numerous DMs in the states of Odisha,
Jharkhand, Kerela, and Bihar.
Many of them have agreed to provide land, support, and
subsidies. For Project Phase 5, Ryma intends to utilise the 200
acres of additional land that they own through crowdfunding.
Ryma would offer foreign investors ownership of a geotagged
pond with assured fixed annual returns.
The Investors would just need to pay for the management and
setup, and Ryma’s team would do the rest.
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VENTURING INTO THE ROLE OF THE IMMERSIVE
TECHNOLOGIES
IN THE MODERN BUSINESS REALM
At first, Meta is driving changes with its colossal workforce of 10,000
talented people focused on mixed reality. Whereas Apple, with its 2,000
personnel aimed at extended reality, showcases a sheer commitment of
big tech to immersive technologies. No denial that the market echoes
this enthusiasm and with the immersive technology sector, it is valued
at nearly $28 billion in 2021. And by the end of 2028, it is poised to
skyrocket to over $252 billion.
In the current scenario, customer experiences are palpable. Pointing to
the budding demand, sales of AR/VR-related equipment and software
surged by 50% during the period of 2019 and 2020. In addition to this,
more than half of consumers are willing to rely on AR/VR for product
assessments. This highlights a paradigm shift concerning interactive
retail experiences.
As per the compelling case study in the retail sector, the tangible outcomes of
immersive technologies are at the core. Such as, a make-up retailer using AR for
virtual lipstick trials happened to see customers aligning with the product nearly
twice as many lipsticks compared to traditional in-store trials. Furthermore, AR
users demonstrated long-term browsing and enhanced product engagement. It
allows them to translate into a notable 20% higher likelihood of purchase.
With the launch of ceaseless tech innovations
spread across the business world, numerous
immersive technologies redefine customer
engagement. Be it AR, VR or MR, the tech advances
are at the forefront of this transformative
journey. At present, these are setting new
benchmarks for enhanced interaction and
experience. Driven by heavy investments from
bigwigs like Meta and Apple, the whole business
stage is up for global adoption across several
industries.
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Trending
Now digital platforms are also not left untouched from immersive
technologies that further amplifies consumer engagement. One of the
most popular visual discovery engines, Pinterest has recently forayed in
AR with its “Try On for Home Decor” feature which empowers users
to virtually visualize furnishings within their respective living spaces.
And now, consumers utilizing this feature led to a 5x increase in sales
compared to conventional pins. This example portrays the crucial role
of immersive experiences in the escalation of conversion rates from the
sales perspective.
The holistic concept of the metaverse comes out as the next frontier in
immersive engagement. Gartner’s projections foresee the metaverse
evolving into a virtual nexus for employee interaction, supplanting
traditional video conferencing with avatar-based collaboration. With
estimates suggesting a tenfold increase in metaverse adoption among
workers by 2025, businesses are poised to leverage this transformative
paradigm shift for enhanced connectivity and productivity.
What is worth mentioning is the fact that the metaverse’s potential goes
beyond corporate space. It is now permeating across diverse realms
with innovative applications. Moreover, Duolingo’s mascot, Duo,
spearheaded the company’s metaverse debut. It is epitomizing the
concoction of education and immersive technology within the Duolingo
Game Hub. These initiatives echo a neoteric era where immersive
learning experiences would be prominent. It is expected to transcend
conventional frontiers and support high quality engagement.
Hence, several businesses are turning to adopt
immersive technologies as their growth drivers
relevant innovation and customer-centricity.
Whether it is AR-implemented retail experiences or
metaverse-enabled partnerships, the evolution and
implementation of immersive technologies poses
a great deal of promise to reshape almost every
industry.
www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA
47
48
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49
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MIDSPACE | Business Magazine in india | business magazine

  • 1. www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 1
  • 2. 2 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 3 Our Technology Whom do we serve? We work for diverse businesses of all sizes right from Startups to Fortune companies across all domains and deliver bespoke and next-gen IT services and solutions to help their businesses thrive in this highly competitive digital world. ✔ Technology Offshore partnership ✔ Center of Excellence (CoE) for comprehensive IT service requirements ✔ Committed team/ IT staff augmentation/ Resource offerings for the existing technology base. Our Services Our Specialty What we do ▣ Blockchain Technology ▣ Data Engineering ▣ Generative AI ▣ Robotic Process Automation ▣ Product Engineering ▣ Bespoke Mobile/Web solution Who we are? Techmango is a prominent IT services, consulting, technology services, and digital transformation services provider serving the world’s leading brands with its holistic portfolio of services in consulting, engineering, design, and operations. 400+ Experts 20+ Industries 150+ Global Brands 10+ Countries Upraise your business with bespoke digital business solutions Hungry for digital success? Scan to know more www.techmango.net business@techmango.net +1 (678) 459 2330 +91 99940 23236 Why Techmango is formed? Started as a small IT service-providing company of just 30 professionals in 2014 in Madurai, with a strong vision of making a massive difference in the IT service sector by empowering businesses with top-notch IT services, Techmango has now emerged as a leading, community-based IT service-providing organization serving millions of brands across the globe. Primarily located in the tier 2 city, Madurai with Offshore Development Centers (ODCs) in Chennai and Trichy, we also have Overseas offices in Dubai (UAE), USA - Atlanta (Georgia), and Unionville (Connecticut). Entertainment Real estate Social Networking E-commerce Healthcare Education Logistics Manufacturing
  • 3. 4 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 5 Kajal Dobhal Kajal@businessconnectindia.in Most of our editions spotlight that role of diversity, equity, and inclusion that stands as cornerstones of effective leadership in the business realm. And worth mentioning , the modern day businesses realize the significance of fostering diverse and inclusive work environments that promote belongingness and empower individuals. Well, this issue is nothing short of similar insights that would amaze you in most unimaginable ways. For endorsing the overall business backdrop, it’s imperative to acknowledge the profound impact that emerging trends are exerting on industry paradigms. The major refinement of the business strategies is not merely a progression. It is actually a revolutionary shift that highlights adaptability, innovation, and a better view of consumer behavior. Now, the budding entrepreneurs are shattering the traditional models with the help ofdigitalization.Enterprisesthatareactivelyembracingthesetransformative trends poised for unprecedented success. The decision making process is being conducted or improvised with the power of AI and data analytics. No doubt, these advances in business processes cultivate a culture of inclusivity and sustainability. And in this vein, the enterprises are rewriting the rulebook and opening the gateway for more resilient businesses that are equally socially responsible. At the heart of these advancements lies a commitment to agility and foresight, enabling organizations to anticipate market shifts, capitalize on emerging opportunities, and stay ahead of the curve. The cover page is graced with the success narrative of Mindspace Outsourcing Services Pvt. Ltd., that was established by two industry leaders, Kshitij Jain and Manish Jindal, who specialize in comprehensive financial outsourcing solutions. The organisation is making a mark in its respective industry focused on quality offerings and data security. As a collective vision of two distinguished entrepreneurs, the company is sparking the talks in the context of accounting outsourcing that is quite lucrative for businesses. At last, I would say that we are on the verge of witnessing a remarkable era of innovation. It’s evident that the businesses thriving amidst these unfavourable tides are those that dare to challenge conventions, embrace disruption, and embrace a mindset of continuous evolution. Let’s cherish this edition, underscoring the transformative power of these new age business trends that is not merely creating a difference; it’s shaping the very fabric of our economic landscape. We need to talk of a future defined by ceaseless possibilities and how the modern business executives can lead this wave of change in the best possible way. An attempt to unlock new realms of business opportunities Publisher Editor : Abhishek Kumar Dubey Vol - 6| Special Edition|March 2024 We are also available on: Printed and Published By Abhishek Kumar Dubey on Behalf of FanzineIndia and Printed at Tanuj Process, A 21/27 Naraina Industrial Area, Phase-II, New Delhi - 110028 and Published at RZC 4, A/2, Street No. 21B, Sadh Nagar - II, Palam Colony, New Delhi-110045 Publisher Editor : Abhishek Kumar Dubey RNI No.: DELENG/2018/76695 Copyright © 2018 FanzineIndia, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations, Views and opinions expressed in this publication are not necessarily those of the magazine and according no liability is assumed by the publisher. Corporate Office 701, Vishwasadan Tower, District Centre, Janakpuri, New Delhi- 110058 Ph. 011-41065208 Email: corporate@businessconnectindia.in Registered Office RZC 4, A/2, Street No. 21B, Sadh Nagar - II, Palam Colony, New Delhi-110045 Ph. 011-42636209 Email: info@businessconnectindia.in Editorial Team Kajal Dobhal | Sugandh Bahl | Dr. Amit Mishra | Avishek Singh | Kriti Anand | Geetanjali Business Head ASHISH KUMAR Senior Marketing Manager Sonia Tiwari Senior Relationship Manager Reshmi Mishra Corporate Team Satyam Singh | Sunny Pathak | Asha Dudeja | Pradeep Pandey | Reetu Chauhan | Komal Verma Sudha Gupta | Vikash Kumar | Kazim Barati | Rahul Kumar | Abhishek Mishra | Vijender Saroj | Kavita Tiwari | Sanyam Bhayana | Deepali Kalra Co-ordinator (Business Connect-Clients) Priyanka Gupta Data Research Analysis Mukul Kumar | Gunjan Chaurasiya | Hitesh Kumar | Adarsh Pathak |Prince Banga | Diksha Singhal | Aditya Thakur | Nupur Sharma | Divya | MD Salman Raj Sharma | Akansha Kumari | Roma | Sakshi | Aman Finance Team Gaurav Singhal | Jyoti Creative Director ASHUTOSH OJHA Creative Team Pawan Yadav | Vishant Saroj Legal Affairs Mukesh Kumar Human Resources Nivedita Basu Digital Marketing Manager Anurag Tiwari | Simran Follow us on:
  • 4. 6 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 7 COVER STORY TABLE OF CONTENT 10 16 20 The Success Story of the App Matching Millions around the World Atnest: Bringing the Most Ideal Co-living Space Filled Up with Premium Amenities SUCCESS ATNEST PVT. LTD. 22 26 5 ways that will shape the future of work trends Pioneering Change In The Pharmaceutical Landscape Unveiling A Visionary Strategy Amid Industry Challenges BCM Inhouse BLACK LEO MEDS 28 32 9 Distinct Ways To Cultivate A Thriving Workplace A Growth Catalyst, Dedicatedly Empowering The Socio-Economic Upliftment Of The Rural Poor BCM Inhouse END POVERTY 34 38 The Success Story of the App Matching Millions around the World Elevating the Express Global Logistics Experiences with Seamless, Reliable, and Unparalleled Services BCM INHOUSE QUICKSHIP GLOBAL EXPRESS PVT. LTD. Page MIND SPACE OUTSOURCING SERVICES PVT.LTD.
  • 5. 8 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 9 46 50 Venturing Into The Role Of The Immersive Technologies In The Modern Business Realm TRANDING ‘TRAVEL WITH SUSMITA’: Journeys Memorable Making 52 54 How To Stay Awake At Work Shasring the goodness of yoga with regular practices and unique techniques YOGA SANSKAR SUTRA FOUNDATION LIFESTYLE 58 60 A Young and Agile Supply Chain Pioneer, Shaping the Entire Supply Chain Network A Glance Into The Empowering Innovations Of Genai Tools ZEVO TECHNOLOGY 40 44 From Parking To Retail: How Do Airports Make Money? Empowering the Cultivation of Prawns Naturally and Locally TRAVELING RYMA FOODTECH
  • 6. 10 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 11 Mindspace Outsourcing: A Prominent Outsourcing Firm Offering a Complete Spectrum of Bookkeeping, Payroll and Accounting Services O ver the past few decades, the accounting sector has experienced a significant transformation as businesses outsource more tasks to enhance efficiency. Due to the increasing complexity of financial rules and the demand for specialised skills, it has become vital for accounting firms to find the best outsourcing partners that can cater to their distinctive needs and offer pertinent solutions. An exemplary player in this arena is Mindspace Outsourcing Services Pvt. Ltd., founded by two industry leaders, Kshitij Jain and Manish Jindal, specialising in comprehensive financial outsourcing solutions. Nestled in the beautiful city of Jaipur, Mindspace stands as a truly amazing and trusted firm, effectively serving clients across diverse sectors, employing knowledge-based approaches, and delivering efficient, value-centric accounting outsourcing services. Mindspace came into existence in 2008 with a mission to provide tailored financial solutions that empower businesses and accounting firms to thrive in a dynamic and competitive landscape. Over the years, the firm has emerged as a prominent accounting firm with an extensive range of services encompassing bookkeeping, VAT and tax return preparation, payroll processing, accounts production, Xero/QBO migration, management reports, sales tax return preparation, GST/BAS returns, financial analysis and forecasting, as well as IFRS and Ind-AS implementation support services. With ISO 9001 and ISO 27001 certifications, Mindspace emphasises a steadfast commitment to quality and prioritises data security. The team comprises expert Chartered Accountants, ACCAs, MBAs, and seasoned commerce graduates who leverage some of the world’s premier accounting solutions to ensure excellence in their offerings. The Genesis of Mindspace Mindspace emerged from the collaborative vision of Kshitij Jain and Manish Jindal, both distinguished chartered accountants with a shared passion for technology. Their paths converged during a data security course, sparking conversations about their respective strengths and interests. Recognizing the potential to revolutionize client servicing and accounting outsourcing, they hatched the idea of establishing Mindspace. Fuelled by a commitment to innovation, Kshitij and Manish decided to focus their efforts on serving clients in the United Kingdom. This decision marked the inception of Mindspace in 2008, laying the foundation for a journey characterized by a harmonious blend of financial expertise and technological prowess. Since its founding, Mindspace has continually evolved to provide cutting-edge solutions in the dynamic realms of client servicing and accounting outsourcing. MIND SPACE OUTSOURCING SERVICES PVT.LTD. MANISH JINDAL DIRECTOR CO-FOUNDER KSHITIJ JAIN DIRECTOR CO-FOUNDER Cover Story 10 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 11
  • 7. 12 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 13 • Regular System Upgrades: • Ensure their internal systems are regularly updated to benefit from the latest features and security patches. • Collaborating with technology providers to stay informed about upcoming upgrades. • Data Analytics and Reporting: • Leveraging advanced data analytics tools to provide clients with in-depth financial insights. • Offering customizable and interactive reporting features for better decision-making. • Environmental Sustainability Initiatives: • Promoting eco-friendly practices by reducing paper usage through digital processes. • Exploring energy-efficient technologies in the operations. Mindspace’s Key Focus: Quality In the pursuit of excellence at Mindspace Outsourcing, their commitment to delivering top-notch services is ingrained in every aspect of their operations. Highly qualified professionals undergo continuous training, staying updated on the dynamic landscape of accounting regulations. This proactive approach ensures that the team is well-equipped to provide services that are not only accurate but also compliant with the latest industry standards. To fortify the reliability of their services, they have implemented a maker and checker policy. This meticulous review system involves a dual-layered validation process, where tasks are initially performed by one team member (the maker) and rigorously reviewed by another (the checker). This stringent policy acts as a safeguard against errors, reinforcing the precision and quality assurance of their deliverables. Furthermore, their commitment to quality is underscored by the attainment of ISO 9001 certification. This internationally recognized standard for quality management reflects their dedication to implementing rigorous quality control processes. The adoption of ISO 9001 at Mindspace ensures that their services consistently meet regulatory requirements, exceed customer expectations, and align with the highest industry benchmarks. These strategic measures not only elevate the standards of their services but also underscore their unwavering commitment to delivering exceptional financial outsourcing solutions to their valued clients. Clientele and Corporate Ethos: At a Glance Mindspace caters to a broad spectrum of clientele spanning diverse industries, such as retail, e-commerce, real estate and property management, logistics, construction, technology and IT, healthcare, manufacturing, hospitality and tourism, education, bars and restaurants, travel, entertainment, law firms, and consulting firms, etc. Their commitment to a knowledge-based approach, quality deliverables, and a client- centric focus has earned the team the trust of their clients. Confidentiality, accuracy, and timely delivery are the pillars of their client relationships. Distinctive Marketing Strategies Client testimonials and case studies are pivotal components of the marketing efforts at Mindspace, serving as compelling narratives that highlight their capabilities and the positive impact they have had on their clients. These real-life success stories provide tangible evidence of the value they bring and contribute to building trust among the current and prospective clients.The team’s commitment to transparency, coupled with a focus on showcasing their expertise and client success, forms the cornerstone of the marketing approach. This strategy not only reinforces their brand identity but also positions us as a trusted partner in the realms of accounting and financial outsourcing. An Edge Over the Peers Mindspace Outsourcing Services stands out in the industry through a combination of distinctive elements that collectively define their competitive edge. At the core of the success lies a commitment to cultivating long-term partnerships with the clients. Grounded in trust, reliability, and mutual success, these relationships are a testament to their dedication to fostering enduring connections. A pivotal component of their strength is the team of seasoned advisors. Their expertise and collaborative approach contribute significantly to their ability to deliver exceptional solutions tailored to the unique needs of the clients. With a focus on long-term employment, their workforce embodies stability and continuity, ensuring a consistent level of service excellence. Setting them apart from industry norms is their proprietary quality-checking mechanism. Going beyond established standards, this system ensures the precision and accuracy of their deliverables, reflecting the unwavering commitment to quality. Bolstered by 14 years of industry experience, Mindspace has amassed a wealth of knowledge and insights, allowing us to navigate complexities and offer effective, tailored solutions. Their certifications in leading accounting platforms, including Xero, QuickBooks, Zoho, and Sage, showcase their commitment to staying technologically current. This commitment extends to collaborating with CPAs and businesses across diverse industries, equipping us with a versatile skill set to address the unique challenges of each sector. Keeping abreast of the latest changes in tax laws, regulations, and compliance requirements is one of their strengths. This ensures that the clients are always in compliance with the latest standards, reducing the risk of penalties and issues. The Visionary Leadership Kshitij Kenny With over 18 years of distinguished professional experience as a Qualified Chartered Accountant, Kshitij Kenny Jain is an esteemed member of the Indian Institute of Chartered Accountants, TIE Jaipur, JIIF, JITO, ICAI, and Nasscom. Beyond his financial acumen, Kshitij is a dedicated coach to numerous start-ups and an active philanthropist, overseeing the JIIF Innovation Center. His expertise in management accounting is exemplified through talks at Management Training Institutes on outsourcing, business setup, cloud accounting automation, and digital transformation for accounting companies. The Initial Team Formation at Mindspace The Mindspace team comprises highly qualified professionals, encompassing chartered accountants, ACCAs, MBAs, and seasoned commerce graduates. When they initiated their journey, building a proficient team posed a formidable challenge. As pioneers in the outsourcing sector, operating under the banner of Payoneer, they encountered a scarcity of readily available talent in the market. Undeterred by the absence of a suitable talent pool, they undertook the initiative of developing an extensive in-house training program. Through strategic efforts, they successfully created a pool of skilled professionals, nurturing their abilities and aligning them with the specific requirements of their clientele. Overcoming cultural challenges was integral to their success, and they meticulously crafted a team that not only excelled in technical expertise but also seamlessly integrated with the diverse cultures of the clients. Their recruitment strategy extended beyond conventional norms, enabling them to harness talent from varied backgrounds. This proactive approach not only addressed the initial scarcity but also paved the way for a diverse and highly skilled talent pool at Mindspace. This commitment to talent development and cultural alignment has been instrumental in their journey to provide top-notch outsourcing solutions to their clients. Integrating with the Latest Tech Evolution Their commitment to staying abreast of the latest technological advancements in the market is integral to providing efficient and innovative services. Here’s how the company synchronizes with these advancements: • Adoption of cutting-edge accounting software: • They consistently evaluate and adopt the latest accounting software to streamline bookkeeping processes. • Integration of cloud-based solutions for real- time collaboration and accessibility. • Automation Implementation: • Embracing automation tools to expedite routine tasks such as data entry, invoicing, and reconciliation. • Utilizing machine learning and AI to enhance accuracy and efficiency in data analysis. • Data Security Measures: • Implementing robust cybersecurity measures to safeguard client financial data. • Regularly updating their systems to adhere to the latest security standards. • Digital receipts and documentation: • Encouraging the use of digital receipts and documentation to reduce paper usage and enhance organization. • Implementing systems for easy retrieval and storage of digital documents. • Client Portals and Communication Tools: • Offering secure client portals for seamless communication and document sharing. • Utilizing communication tools that align with the latest trends, such as video conferencing and instant messaging. • Continuous Team Training: • Investing in ongoing training programs to keep the team updated on the latest technological trends. • Encouraging certifications in relevant software and technologie 12 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 13
  • 8. 14 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 15 As the director and co-founder of Mindspace Outsourcing Services Pvt. Ltd., Kshitij leads the provision of exceptional accounting outsourcing services to firms and businesses in the US, UK, Canada, Australia, and UAE. His global impact extends to participation in international exhibitions across cities like Las Vegas, New York, London, Sydney, and San Jose. Manish Jindal With over 18 years of distinguished professional experience as a Qualified Chartered Accountant, Manish Jindal serves as the co-founder of the company, where his primary focus lies in overseeing client delivery tasks. A highly accomplished individual, he holds qualifications such as Certified Xero, QB, QB Online Proadvisor, DISA, and AIA (UK) and is a fellow member of the Institute of Chartered Accountants of India. Manish specializes in areas crucial to financial management, including tax returns, year-end accounting, and management reporting. His dedication to excellence and commitment to his field have earned him recognition, including being an active member of BNI. Nurturing a Proficient and Productive Team Mindspace boasts a proficient team comprising expert Chartered Accountants, ACCAs, MBAs, and seasoned Commerce Graduates, collectively harnessing some of the world’s premier accounting solutions. Their dedicated professionals, predominantly graduates and postgraduatesinaccountingandfinance, possess exceptional communication skills and bring a wealth of industry experience, ranging from a minimum of 3 years to 15 years. The accomplished team members are well-versed in English communication and boast extensive experience across various industries, including retail, e-commerce, real estate and property management, logistics, construction, technology and IT, healthcare, manufacturing, hospitality and tourism, education, bars and restaurants, travel, entertainment, law firms, and consulting firms. Furthermore, they excel at managing books on multiple platforms, including Xero, QB (Desktop), QB Online, MYOB, Freshbooks, Zoho books, Sage, WaveApps, FreeAgent, Kashflow, Netsuite, Odoo, Buildium, RenTec, Appfolio, Yardi, Propertyware, RentManager, Quicken, Gusto, Dext, Keytime, CCH, and more. This comprehensive approach ensures that their services align seamlessly with the diverse needs and preferences of the clientele. Mindspace’s Distinctive Tactics for Employee Motivation • Recognition: regular acknowledgment of accomplishments and efforts to boost morale. • Professional Development: Encouraging ongoing learning and skill enhancement. • Team Building: organizing team-building activities to foster a sense of camaraderie. • Flexible Work Arrangements: Providing flexibility to maintain a healthy work-life balance. • Employee Feedback: Encouraging open communication for constructive feedback. • Rewards and Incentives: Recognizing exceptional performance with tangible rewards. • Clear Goals: Setting transparent and achievable goals for individual and team success. • Social Events: Hosting recreational gatherings to promote a positive and engaging work environment. • The Achievements and Accomplishments Along the Way • Mindspace has garnered notable recognition and prestigious accolades, underscoring the company’s remarkable achievements: • Kshitij Jain and Manish Jindal were honoured with the Economic Times “Global Indian Leaders Awards 2022.” • Kshitij Jain was recognized with the “Payoneer Global India Award” in 2021. • Mindspace has been recognized as a “Top Finance and Accounting Outsourcing Company” by the prestigious Clutch badge. • Mindspace achieved the status of a Platinum Partner with QuickBooks Online. Further demonstrating prowess in the digital marketplace, Mindspace boasts a commendable 100% success rate on Upwork, reflecting its proficiency and reliability. Additionally, the successful completion of over 1,000 projects underscores the company’s expertise and client satisfaction. Painting the Future Canvas of Mindspace Mindspace Outsourcing Services is set to embark on several strategic initiatives to elevate its services and establish a stronger presence in the industry. Here’s an overview of the company’s upcoming endeavours: • Partnership with Xero and Intuit: Mindspace Outsourcing Services is gearing up to forge strategic alliances with Xero and Intuit, leading players in the financial software industry. This partnership aims to enhance the company’s capabilities and provide clients with cutting-edge solutions for their financial needs. • Support for CFO and Controller in Larger Businesses: The company is expanding its service offerings to cater to the specific requirements of larger businesses. By providing comprehensive support for Chief Financial Officers (CFOs) and Controllers, Mindspace Outsourcing Services aims to establish itself as a trusted partner for enterprises seeking advanced financial solutions. • Integration of Power BI: Mindspace Outsourcing Services is embracing data-driven decision-making by integrating Power BI into its suite of services. This move is designed to empower clients with powerful business intelligence tools, enabling them to extract valuable insights from their financial data. • Establishing Physical Offices: In a bid to strengthen its global presence, Mindspace Outsourcing Services is planning to establish physical offices in key locations such as the United States, the United Kingdom, and the East Coast. This expansion strategy aims to facilitate closer collaboration with clients and partners in these regions. • Strategic Geographic Expansion with Multicity Operation Centers: Mindspace Outsourcing Services is strategically broadening its operational footprint by establishing state- of-the-art multi-city operation centers. This expansion not only enhances operational efficiency but also exemplifies our commitment to delivering unparalleled financial services across diverse geographical landscapes. • Financial Digital Transformation: Mindspace Outsourcing Services is at the forefront of the financial industry’s digital transformation. By embracing innovative digital solutions, the company aims to streamline financial processes, improve efficiency, and provide clients with a seamless and technologically advanced experience. Pearls of wisdom The visionary leaders wrap up the discussion with a few key messages to all aspiring entrepreneurs: • Embrace technology wisely: “Technology is a powerful ally in the business landscape. Embrace it wisely to streamline your bookkeeping processes, enhance accuracy, and free-up valuable time. Leverage technology to work smarter, not just harder.” • ClientRelationshipsMatter:“Intheworldofbookkeeping, trust is paramount. Cultivate strong relationships with your clients by delivering consistent, reliable, and transparent financial services. Your reputation as a trustworthy partner will be your greatest asset.” • Adaptability is key: “The business landscape evolves, and so must you. Be agile and adaptable in the face of change. Whether it’s new regulations or market shifts, the ability to pivot and innovate will set you apart. • Continuous Learning: “Never stop learning. The financial landscape is dynamic, and staying ahead requires a commitment to continuous learning. Stay curious, embrace new concepts, and empower yourself with the knowledge needed to navigate the ever-changing business environment.” • Ethical Business Practices: “Integrity is non- negotiable. Uphold ethical standards in your bookkeeping practices. Trust is hard-earned and easily lost; a reputation for integrity will set you apart in the business world.” • Persistence and Resilience: “Persistence and resilience are your greatest allies. In the face of setbacks, keep going. Learn from challenges, adapt, and persevere. True success often comes to those who endure.” 14 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 15
  • 9. 16 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 17 As we wrap up this story, we hope that our readers have got lessons and inspiration from it. Often visit our site to read such insightful and interesting stories. A nupam Mittal, the renowned entrepreneur and business leader, is the man behind one of the most popular online matrimonial platforms, Shaadi.com. Besides being a prominent leader in the startup ecosystem, he is the judge on the Indian business reality show Shark Tak India, telecasted on Sony TV. He came up with online matchmaking business ideas when the international market was not so strong in India. Anupam had to go through numerous obstacles along the way, but he never gave up. In this article, we will explore the inspirational story of Anupam Mittal, his overall journey, his challenges, achievements, and the impacts he is creating with his experiences. Early Days and Family Background Anupam Mittal was born in December 1971 in Bombay (now Mumbai). His father’s name is Gopal Krishna Mittal, and his mother’s name is Bhagvati Mittal. He has two sisters. In 2013, Anupam got married to his long-term girlfriend, Anchal Kumar. Anchal is a famous model and Bollywood actor. They are blessed with a girl, Alyssa Mittal. Education and Career Journey Since childhood, Anupam has had exceptional talent and a keen interest in technology. His passion for technology pushed him to pursue a degree in computer science from the Massachusetts Institute of Technology. After graduation, Anupam worked for various tech firms in the US named Micro Strategy. During this job, Anupam learned a lot about software and its applications. He wishes to launch his site, but it is not clear what kind of site he should come up with. Anupam worked with this company for four years. Entrepreneurial Journey: The Path Toward Success In 2000, .com was busted, and the internet industry went through a crisis. Anupam then moved back to India, as his company also faced huge losses. Anupam’s journey in entrepreneurship began with the establishment of People Interactive, a company offering tech solutions to businesses. However, due to the limited resources and uncertain market, the company faced huge losses. Anupam dealt with these hurdles smartly and shifted the company’s focus towards the online material industry. Anupam worked with Matchmaker; during his interaction, he learned a lot. While working with them, he realized that many NRIs were settled in the USA, UK, Canada, Germany, France, and other nations, but for marriage, they wished to find their partners in their homeland. He thought of coming up with something that could connect the matching partners. And finally, in 1996, he launched sagai.com, which was later changed to Shaadi.com. Since then, this platform has helped over three million people find their life partners. The company serves worldwide, with its core markets being India, Pakistan, and Bangladesh. Presently, Shaadi.com has more than 5 million subscribers from across the world. After the incredible success of Shaadi.com, he founded People Group in 2001 and made it the parent company of Shaadi.com and his other ventures. Anupam’s entrepreneurial spirit for innovation encouraged him to explore new business eras. He launched a mobile app named mauj.com. This was a messaging app that used to offer video. In 2007, he decided to venture into real estate with Makaan. com. It provides a platform for buyers and sellers to meet their needs at an affordable price. He entered the travel industry with XOXO Tours. It is a digital platform that helps travelers connect with other individuals and build connections. Anupam is also the co-founder of IMAI ( Internet and Mobile Association of India). He invested approximately 1 crore in Ola and holds a 2% stake. In 2018, he established H2 India and is an active member of LetsVenture Online and Zepo. Over the years, Anupam has invested in over 200 startup ventures, including Cafe Zoe, Ketto, Druva, Pretty Secrets, TaxSpanner, Peel Works, FarEye, and Prop Tiger, to name a few. Awards and Achievements Anupam Mittal has been honoured with numerous awards and accolades, including the renowned Ernst Young Entrepreneur of the Year Award. He is one of the top 50 business-influential people in India, according to Business Week. Anupam Mittal’s Net Worth The total net worth of Anupam Mittal in 2024 was estimated to be 185 crore. Overall, Anupam Mittal’s journey from a young, inspiring entrepreneur to a renowned business tycoon is amazing. He has given a new shape to the online matrimonial and real estate industries with his hard work, dedication, strong business ethics, and market understanding. 16 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 17
  • 10. 18 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 19 OUR UPCOMING EDITIONS www.businessconnectindia.in NEVER MISS OUR EDITION I would like to subscribe* Business Connect for one year at Rs.1000 (12 issues) I am enclosing the Cheque/DD no. _________________________ dated ___________________ of Rs. ________________ of bank __________________________________________ Branch ______________________________________________ drawn in favour of FANZINEINDIA. My Personal mailing details (IN BLOCK LETTERS): NAME _____________________________________________________ CompanyName_____________________________________________Designation_____________________________________ Address _________________________________________________________________________________________________ _________________________ City _________________________ State ______________________ PIN ____________________ Telephone_______________________________ Email(Required*)__________________________________________________ Age in years _______________ Experience _______________ Industry ___________________ Education __________________ Your feedback about the magazine ___________________________________________________________________________ How did you come to know about Business Connect? ______________________________________________________________ Now you can also subscribe through credit card: visit - http://www.businessconnectindia.in All the payments are accepted in Cheque/DD favouring: FANZINEINDIA, 701, Vishwasadan Tower, District Centre, Janakpuri, New Delhi- 110058 *This offer is valid in India only. Please mention your name and address on the back side of your Cheque/DD. Cancellation and refunds are not allowed. If you have any query, please send us the email to corporate@businessconnectindia.in or call to 011-41065208. Business Connect offers you amazing business stories along with multiple interesting and motivational stories written by our expe- rienced editors. You may grab an opportunity through our special offer : Get 12 Issues by paying just Rs. 1000. BUY NOW FOLLOW NOW SUBCRIBE NOW BUSINESS MAGAZINE INDIA’S FASTEST GROWING Follow us on
  • 11. 20 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 21 ATNEST PRIVATE LIMITED Atnest: Bringing the Most Ideal Co-living Space Filled Up with Premium Amenities I n recent years, there has been a significant increase in the younger population’s demand for shared spaces. People are searching for more flexibility in their living style and more affordable housing due to the high rental prices of flats and the strict landlords that accompany them. Thanks to the concept of co- living, which provides spaces for people who want to live hassle-free in the privacy of their own home or with others who have similar interests, Emerging as a symbol of quality and affordability in co-living, Atnest is a viable option for millennials and Gen Z looking for more flexibility in terms of their living culture and budget-friendly accommodation. Atnest is a novel endeavour in the co-living space initiated by the visionary leader, Nehru Babu, CEO, with the motto to provide a cost-effective and healthy atmosphere for long and short stays to its patrons. Situated in Hyderabad, one of the world’s largest hotspots for startups, Atnest offers a range of services to cater to the needs of its clients, including IT workers, students, and big corporations. Atnest’s team of highly driven and experienced leaders gives the brand an advantage in the rapidly expanding real estate industry thanks to their ability to improvise concepts and incorporate technology. Overcoming several obstacles along the way, this innovative co-space company has accomplished remarkable success; it currently has over ten facilities with a combined capacity of about one thousand beds, located in Madhapur, Raidurgam, and Kokapet. Atnest is renowned for its fine accommodations, food, and friendly service in the Hyderabad IT corridor. Moving forward, Atnest has entered serviced apartments and budget hotels and is striving to make a mark in this segment. The mission of the company is to establish and operate a minimum of 10 buildings in each of the metropolitan and Tier 2 cities in India. This goal demonstrates the company’s commitment to having an extensive presence and impact, as it aspires to offer its food and hospitality services throughout the diverse urban landscapes of the country. The mission clearly shows Atnest’s strategic objective of attaining substantial coverage and influence in major cities. Atnest’s Innovative Journey: Marked by Growth and Adaptability Since its inception in 2014, Atnest’s entrepreneurial journey in the business world has been marked by notable growth and adaptability. Beginning as a partnership firm, the company has had incredible success, turning into a professional corporate entity in 2019. The year 2018 saw the company’s expansion with the operation of five facilities in Hyderabad, demonstrating its capacity to flourish and meet rising demand.However, the entrepreneurial resilience of Atnest truly came to the forefront throughout the difficult times brought on by the COVID-19 pandemic. The corporation rapidly responded to the situation by turning its buildings into isolation centers, significantly enhancing the community’s quality of life while continuing operations. Atnest was instrumental in helping 3000 people receive care and assistance during the most crucial stage of the epidemic by working with key hospitals in the city. Going ahead, the company continues its growth and expansion trajectory. Atnest aims to operate about 17 facilities in Hyderabad by the end of May 2024, illustrating consistent expansion and a significant market presence. Atnest’s journey exemplifies not only business success and growth but also a dedication to social responsibility and flexibility in the face of adversity. fThanks to its community service and ability to successfully negotiate the demands of the business world, the company portrays itself as a dynamic and socially responsible entrepreneurial enterprise. RD – Driving Innovation and Learning At Atnest, RD is an essential, ongoing process that propels learning and innovation. By actively participating in research projects and remaining receptive to fresh perspectives, the team is dedicated to maintaining its leadership position in the field. Their dedication to ongoing research is crucial to their long-term growth and development strategy since it allows the company to react to industry shifts and offer customers cutting-edge solutions. Marketing and Advertising Tactics As a bootstrapped startup, Atnest’s key advertising and marketing strategies revolve around staying closely connected to their audience and ensuring that the needs of the customers are consistently met. Their marketing efforts are primarily concentrated in the digital realm. This includes online advertising, social media marketing, and search engine optimization (SEO). They aspire to expand their audience and raise brand awareness by making strategic use of digital media. They strive to create loyalty among their audience through content marketing, social media participation, and other community-building efforts. Leadership – An Art of Influencing People Leadership at Atnest is perceived as the art of constructively influencing others. Their strategy is based on a strong belief in the company’s vision, and they go above and beyond to make sure that every employee is on the same page. Their approach to leadership is based on creating an environment where all employees are encouraged to participate and work together. They create an atmosphere where anyone can reach the top management by encouraging open communication and making the leadership team available to all organizational levels. Fostering Flexibility and Inclusivity at Workplace Rooted in the principles of a family-like environment, Atnest fosters unity and collaboration in the team. They take pride in the diversity of the workforce, with 20% of the employees being senior citizens and an additional 20% representing the female workforce. Their work culture places a strong emphasis on diversity and flexibility, which aligns with their belief in keeping a very lean organization. This indicates that they place a high value on candid communication, delegating tasks to team members, and fostering a sense of camaraderie. Their dedication to fostering a family-like environment aims to foster a collaborative, encouraging environment where each member feels respected and loved. Notable Achievements and Milestones Atnest has accomplished significant milestones and gained recognition thanks to its dedication to excellence, quality, and customer satisfaction. The company was recently honored with the Top 10 Co-living Operators award by a reputed publication. The company’s ability to draw in new capital highlights both its appeal to investors and its prospects for expansion. These investments are instrumental in facilitating the planned expansion and further establishing Atnest as a prominent player in the co-living space. The company’s trajectory of growth and expansion indicates a commitment to continuous improvement and adaptation to market demands. By increasing both the number of facilities and available beds, Atnest is positioned to serve a larger clientele and enhance its market presence. Future Outlook: At a Glance Looking ahead to the future of the company, Atnest plans to expand the growth of the business venture, with an emphasis on sustainable growth as compared to exponential growth. With new investments, they will be expanding to 16 facilities with over 1800 beds by the end of May 2024. Their initial expansion targets include the Bangalore, Chennai, and Pune markets. But before they fuel their expansion goals, they are giving top priority to the development of strong internal procedures, systems, and technology-related issues. This ensures that they are well-prepared and equipped to maintain the quality of the services as they grow. Final Remarks from the Visionary Nehru Babu wraps up the discussion with his key message to all the aspirants: “Recognize the value of mentorship in your entrepreneurial endeavors. Seek out mentors who can offer insightful insights, impart their wisdom, and help you navigate the opportunities and obstacles that life presents. Building a strong advisory network can be a key differentiator in achieving sustainable growth and success in the dynamic business landscape. Stay focused and try to get a little better every day.” Nehru Babu Ch CEO TO WATCH-2024
  • 12. 22 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 23 • Quiet Hiring: We all are living in an era where talent acquisition is becoming increasingly competitive, a shift towards more discreet or “quiet” hiring practices is the new normal. Globally reckoned employers are now into exploring methods that prioritize privacy and minimize bias. This includes leveraging technology-driven solutions such as blind hiring platforms or discreet networking opportunities to focus on skills and potential. It is the best way to foster a more inclusive and diverse talent pool in your organizations. • Flexibility with Hybrid work: We know that pandemic accelerated the adoption of remote work. Since this, it has led to a fundamental shift in the traditional office-centric model. And hydrid work is the future of business world as it offers employees immense flexibility and liberty to work from where they are and how they work. Policies have been altered to make hybrid work more inclusive. The management across the globe found that this is a perfect mix that helps people work well, together, and allows everyone to choose their work preferences. • Employee Expectations: Modern day workforce comprising Gen Z generation want more than just a paycheck. They crave purpose, opportunities, and a supportive work environment. To bring them onboard, companies are meeting these expectations. They’re heavily investing in employees’ learning and growth all the time and giving them ways to move forward in their careers. They’re also being more flexible about when people work, giving strong support for mental health, and making sure everyone feels included in the company. And this is how businesses are able to harness the power of the creative streak of the GenZ employees in favour of their venture. • Sustainable Performance: Keeping financial metrics apart, there’s a growing emphasis on sustainable performance at present. Businesses are gradually shifting towards a holistic approach that measures success not only in profitability but also in social and environmental impact. Leaders are focused on integrating sustainability goals into business strategies while fostering a purpose-driven work culture, and attracting talent aligned with these values. Indeed, employers increasingly seek employers committed to sustainability, influencing their decision to join or stay with an organization. • A Push for Agility: As industries face rapid changes and uncertainties, organizations are prioritizing agility. The ability to swiftly adapt, innovate, and respond to market shifts is a major determinant of success. Now the emphasis is on a workforce to adapt to the embracing change. They need to be comfortable with uncertainty, and possess a diverse skill set. For this, the institutions are fostering a culture of continuous learning, encouraging cross-functional collaboration, and empowering employees to contribute ideas and solutions across various domains. Change is the only constant— a common phrase we hear frequently. We know that the evolution of work culture is in the phase of a seismic shift, driven by a dynamic blend of technological advancements, changing employee expectations, and a heightened focus on sustainable practices. We have observed that the business landscape continues to transform where five key trends are poised to reshape the talent pool in the upcoming decades. With this article, we are redefining how organizations can effectively attract, retain, and empower their respective workforce to increase the graph of their business growth. BCM Inhouse 22 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 23 5 As a key takeaway, we would assert that the future of work isn’t just about adapting to the change. The business world needs to embrace it, thrive within it, and leverage these transformations to build a workforce that could use it in favour of them in the years to come. w ays that will shape the future of work trends
  • 13. 24 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 25 25
  • 14. 26 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 27 BLACK LEO MEDS PIONEERING CHANGE IN THE PHARMACEUTICAL LANDSCAPE UNVEILING A VISIONARY STRATEGY AMID INDUSTRY CHALLENGES I n an era rife with uncertainties and challenges, Black Leo Meds emerges as a beacon of innovation, ready to reshape the pharmaceutical and cosmetics industry. Founded on the ethos of visionary leadership and inspired by the legacy of Andrew Carnegie, the company sets out to dominate the market by strategically acquiring brands and introducing groundbreaking products. At the helm is Utkarsh Chourasiya, the Co-Founder and MA Director, orchestrating the company’s journey towards transformative success. A VISIONARY INVESTMENT GROUP Black Leo Meds is not your conventional pharmaceutical company. It is an emerging investment group with a grand strategy – to be a major force in the industry, determining its future. The company’s focus extends beyond mere growth; it seeks to acquire brands in both pharmaceuticals and cosmetics, aiming to revolutionize the industry’s landscape fundamentally. THE CARNEGIE LEGACY: INSPIRING INNOVATION The inception story of this groundbreaking venture draws inspiration from the late Andrew Carnegie. His timeless philosophy, tailored to the 21st century, serves as the cornerstone for Black Leo Meds. The company translates Carnegie’s principles into a modern context, infusing innovation and relevance into its business model. CRAFTING A DYNAMIC TEAM THROUGH PASSION AND PRECISION Building a team that mirrors the company’s vision requires precision and passion. Utkarsh Chourasiya sheds light on the meticulous process, emphasizing a commitment to not settling for the status quo. Each team member is handpicked for their unique skill set and an unwavering dedication to realizing the untapped potential within the industry. NAVIGATING THE CHALLENGES OF COVID-19 The company was born in the face of the COVID-19 crisis, Black Leo Meds demonstrated resilience and adaptability. Recognizing the industry’s seismic shifts, the company’s pre-existing commitment to quality standards, such as WHO-GMP certifications, positioned it as a stalwart. Ensuring the availability of essential drugs for prevention, cure, and recovery is an essential part of patient care and the company stands as a pillar of support during these challenging times. Utkarsh Chourasiya Founder CEO EMBRACING TECHNOLOGICAL ADVANCEMENTS FOR NOVEL SOLUTIONS Staying ahead of the curve, Black Leo Meds synchronizes with the latest technological advancements. The company’s commitment to introducing novelty products, a first in the Indian market, showcases its dedication to marrying established platforms with innovative interventions, creating a unique market presence. ENSURING QUALITY THROUGH DECADES OF EXPERTISE Quality is non-negotiable for Black Leo Meds. The company has established robust systems and protocols crafted by team members with over three decades of industry experience. This dedication to quality sets the foundation for delivering superior products and services. SERVING CLIENTS WITH CONFIDENTIALITY AND CREDIBILITY While client names remain confidential, Black Leo Meds serves them with utmost integrity. Timely order fulfillment and credit-worthy contracts for contract manufacturing underscore the company’s commitment to building trust. Physicians and doctors are engaged through the provision of accurate information and valuable feedback from prescriptions. QUANTUM GROWTH THROUGH STRATEGIC RD Research and Development (RD) and Formulation Development (FD) are not just requirements; they are integraltoBlackLeoMeds’mission.Thecompany’sdedication to bringing novelty items to the market necessitates extensive RD efforts, setting it apart from competitors. BUILDING A BRAND IDENTITY THROUGH STRATEGIC MARKETING Black Leo Meds invests in media platforms to create a robust brand identity. The primary focus is on building relationships with physicians, offering value, and incorporating their invaluable feedback into the company’s operations. COMPETITIVE EDGE: BEYOND REVENUE GENERATION In an industry driven by Intellectual Property (IP) and trademarks, Black Leo Meds holds a unique position. Unlike competitors focused solely on steady growth, the company aggressively acquires existing brands, saturating the market, and establishing direct ownership. NURTURING INNOVATION THROUGH STRATEGIC RD INITIATIVES Black Leo Meds’ commitment to innovation is underscored by its robust Research and Development initiatives. Recognizing the ever-evolving landscape of pharmaceuticals, the company invests significantly in cutting-edge RD efforts. This commitment goes beyond meeting industry standards; it positions Black Leo Meds as a pioneer, ready to introduce ground breaking products. By fostering a culture of curiosity and exploration within its RD teams, the company ensures a steady stream of innovative solutions, further solidifying its position as a trailblazer in the industry. KEY OFFICIALS: LEADERS STEERING THE SHIP “Utkarsh Chourasiya - Co-Founder/ MA Director; Nirdosh Arora - Co-Founder/Business Development Director.” Utkarsh Chourasiya, the Co-Founder and MA Director, plays a crucial role in securing capital for acquisitions and structuring deals. Nirdosh Arora, the Co-Founder and Business Development Director, is responsible for securing acquisition targets. Industry experts, kept confidential for now, round out the team. EMPLOYEE MOTIVATION AND RECOGNITION Preventing burnouts and maintaining efficiency, Black Leo Meds celebrates top performers by recognizing and rewarding their achievements. The company goes the extra mile by inviting them and their families to luxurious retreats, fostering a culture of excellence. FORGING AHEAD: ACHIEVEMENTS AND FUTURE GOALS Though an emerging group, Black Leo Meds has secured relationships with investors and financial institutions. Term- sheets with various companies for acquisition showcase the company’s commitment to its vision. Looking forward, the goal is nothing short of dominating the market, becoming the largest trademark holder on the continent with over $2 billion in assets under management. WORDS OF WISDOM: DREAM BIG AND TRANSFORM Utkarsh Chourasiya, Co-Founder and MA Director of Black Leo Meds urges aspiring entrepreneurs, “We never exceed our wildest aspirations, so dream big and transform yourselves into that which will turn your dream into reality. Embrace the journey, and success will follow.” COLLABORATE FOR INDUSTRY BETTERMENT: A CALL TO INVESTORS AND BUSINESS OWNERS The group specializes in forming new relationships with like- minded entities to collaborate for the industry’s betterment. Investors seeking visionary partners and company owners exploring transformative collaborations are encouraged to connect with Black Leo Meds SUSTAINABILITY AT THE CORE: ETHICAL PRACTICES AND ENVIRONMENTAL RESPONSIBILITY As Black Leo Meds forges ahead on its ambitious journey, it places a strong emphasis on sustainability and ethical business practices. The company recognizes its responsibility to contribute positively to the environment and society. From eco-friendly packaging solutions to ethical sourcing practices, Black Leo Meds integrates sustainability into its core operations. This commitment not only aligns with the growing consumer demand for responsible businesses but also positions the company as a conscientious player in the pharmaceutical and cosmetics industry. In an era where corporate responsibility is paramount, Black Leo Meds sets itself apart by prioritizing sustainability as a fundamental pillar of its business ethos. In conclusion, Black Leo Meds stands as a testament to the fusion of a startup’s innovative spirit and an investment consortium’s strategic acumen. With Utkarsh Chourasiya steering the ship, the company is poised to redefine the pharmaceutical landscape, leaving an indelible mark on the industry’s future. www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA
  • 15. 28 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 29 DISTINCT WAYS TO CULTIVATE A THRIVING WORKPLACE 9 What is your definition of creating a thriving workplace? Well, it isn’t just about ping pong tables and free snacks (although those can be nice perks!). Basically, a thriving workplace is all about fostering an environment that prioritizes the physical, mental, and emotional well-being of its employees. And we all know how happy and content employees can create a way to improve productivity, engagement, and retention. BCM Inhouse www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 29 1. Establish Work-Life Balance: First, make sure to provide flexible work hours for your team members. To add a cherry on top of it, offer remote work options, flexible schedules, and generous paid time off to allow employees to control their time and meet their personal needs. 2. Disconnect and recharge: If you wish to see your business thrive, just allow your employees to set boundaries and truly disconnect after work hours. This could involve setting expectations for email response times and discouraging late-night communication. Moreover, try to provide access to mental health resources and initiatives like mindfulness programs or Employee Assistance Programs (EAPs) to help them process their emotions in an efficient way while reducing their stress. 3. Prioritize Physical Health and Wellness: Investing in an ergonomic workplace could do wonders to your goal. You need to invest in comfortable furniture, adjustable workstations, and proper lighting to prevent physical discomfort and injuries. Along with that, you can offer healthy choices in your own cafeteria or break room, and encourage breaks for movement and activity. Also, you can host fitness challenges, health fairs, or on-site fitness classes to promote healthy habits and employee engagement. 4. Establish open communication and Psychological Safety: Try to create a culture of open communication by encouraging employees to voice their opinions, concerns, and ideas without fear of judgment or reprisal. But before this, you need to ensure active listening on your own. Leaders should make time to listen to employees’ concerns and feedback, and take their input seriously. 5. Build trust and psychological safety: The management of your company should focus on team building activities and social events to help employees feel connected and comfortable with each other. 6. Recognize and Reward Achievements: One should regularly acknowledge and appreciate employees’ contributions under any circumstances. Either it could be through verbal praise, written recognition, or performance-based rewards. 7. Offer opportunities for growth and development: Provide training programs, mentorship opportunities, and career development resources to help employees reach their full potential. Alongside this, celebrating successes together like organizing team outings, recognition events, or company-wide celebrations to boost morale and foster a sense of community make a huge difference. 8. Lead by Example: Leaders should set the tone by taking care of their own health and well-being. This could involve practicing work-life balance, prioritizing physical activity, and openly discussing mental health challenges. Promote a culture of respect and inclusivity. Leaders should be mindful of their own biases and actively work to create an environment where everyone feels valued and respected. 9. Be authentic and transparent: The most significant one would be leaders being open and honest with employees concerning the company’s goals, challenges, and successes. It is a well-asserted fact that by implementing these strategies companies could create a work environment that is not only productive but also supportive, healthy, and fulfilling for their employees. In this exclusive article, we have brought to you 5 key strategies to cultivate a healthy and balanced work environment for your team that could bring you phenomenal business success: The key takeaways No one can deny the fact that happy and healthy employees are more engaged, productive, and likely to stay with your company for the long haul. Investing in your employees’ well-being is an investment in your company’s success. So, start creating a thriving workplace today! We hope this blog provides valuable insights and actionable steps for companies looking to cultivate a healthy and balanced work environment. What is worth mentioning is the fact that a thriving workplace is a win-win for both employees and employers!
  • 16. 30 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 31 www.businessconnectindia.in | Vol. 3 | Issue 5 December 2020 INDIA 8 siliconindia | |August 2019 19
  • 17. 32 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 33 A GROWTH CATALYST, DEDICATEDLY EMPOWERING THE SOCIO-ECONOMIC UPLIFTMENT OF THE RURAL POOR CELEBRATING 15 YEARS OF TRANSFORMATION: PAVING THE WAY FOR RURAL PROGRESS In 2009, Mr. Vinod Kaushik, a seasoned professional with over 30 years of experience in the development sector, embarked on a remarkable journey to navigate the challenges of rural India. His vision and strategic approach have shaped the trajectory of End Poverty (EP) over the past 15 years, leaving an indelible mark on the lives of thousands. THE FORMATIVE YEARS OF DEVELOPMENT End Poverty (EP) commenced its transformative journey in the economically marginalized Mewat Region of Rajasthan, dedicating over a decade to holistic advancement and addressing the root causes of poverty. In the formative years, EP focused on foundational education for girls, empowering women through skills in stitching, tailoring, and local crafts, and fostering the formation of Self- Help Groups (SHGs). Simultaneously, the younger generation received training in computer literacy, insurance, civil construction, and self-employment. EP showcased environmental stewardship through a pioneering geo-hydrological survey, strategically placing submersible pumps for accessible water sources and promoting rainwater harvesting. A symbolic horticulture farm illustrated sustainable practices, while innovations in dairy farming enriched the landscape. EP also played a pivotal role in catalyzing governmental infrastructure projects, crisscrossing the region with road networks and injecting vitality into Mewat’s aspirations. This initial journey underscores EP’s unwavering commitment to creating enduring positive impacts on both individuals and the community. SUSTAINING COMPREHENSIVE IMPACT Over the years, EP’s invaluable insights, multifaceted engagement, and the support of over 100+ donor entities have propelled the enhancement of its comprehensive areas of Dairy Development, Sustainable Agriculture, Climate Change, Rural Development, and Education programs. End Poverty, since its inception, has been operating at varied locations. With the mandate to work across India, it has/had its presence in 9 states, namely Rajasthan, Madhya Pradesh, Haryana, Karnataka, Uttar Pradesh, Gujarat, Uttarakhand, Goa and Delhi. EP firmly believe that for change to take root truly, it must extend beyond direct interventions and become a shared aspiration that unites all stakeholders. Hence, its Model of Change, the blueprint through which it executes, encapsulates the overarching belief that by nurturing a receptive mindset, fostering collaborative communities, building capacity, and leveraging technology, we can create lasting change within the rural community. Over the course of its 15 years of operation, EP has diligently pursued comprehensive and strategic projects aimed at fortifying community-led development initiatives, thereby fostering positive transformations in social, economic, and environmental realms within its operational areas. Through a holistic approach to development, EP has made significant strides, touching the lives of over 100,000 rural households. These efforts have extended across more than 850 villages, spanning nine diverse Indian states. On completing 15 years of serving selflessly to society, Mr Vinod Kaushik, CEO of End, Poverty, reminisces his journey - “In my more than thirty years working in the development field, I’ve learned that the heart of India’sprogressliesinupliftingitsvillages. Alongwith this, I also observed the most prominent challenges which rural communities face, causing a hindrance in their progress; these are things like jealousy, price sensitivity, a stagnant mindset, the paradox of education without relevant skills, lack of diligence, and limited access to government resources tailored to the needs of rural populations. That’s why, fifteen years ago, with the generous support and guidance of the Gen Initiative, I started End Poverty. With the only goal to be a catalyst in bringing change in rural areas by helping individuals and communities who are eager to improve their lives. Today, as we celebrate 15 years of this journey, I can proudly say that we have come a long way, all thanks to my talented team and wonderful partners. Our aim has always been to make life better for people in rural areas. And that’s what we’re going to keep doing.” EP’s impact resonates deeply in agriculture and dairy farming communities, where it collaborates closely with six Farmer Producer Organizations (FPOs). These partnerships have not only enhanced dairy and agricultural practices but also empowered farmers with tools, knowledge, and resources to thrive in their endeavors within the EP’s operational areas. By strategically engaging with local stakeholders and leveraging innovative solutions, EP continues to serve as a beacon of sustainable development, catalyzing positive change and fostering resilience within the communities it serves. In addition to its core focus areas, End Poverty has also been proactive in addressing issues of Climate Change through varied programs focusing on groundwater rejuvenation and the promotion of sustainable agriculture practices among farmers. By integrating climate change resilience into its development projects, EP not only mitigates the adverse effects of environmental degradation but also empowers communities to adapt and thrive in the face of changing climatic conditions. Education is another key focus area for EP, as it recognizes the transformative power of education in breaking the cycle of poverty through various initiatives such as school infrastructuredevelopment.EPhasworkedtoimproveaccess to quality education in rural areas. By investing in education, EP aims to empower individuals by providing them with an environment which can help them harness the knowledge and skills needed to pursue better livelihood opportunities and contribute to their communities; development. Overall, End Poverty’s holistic approach to development, coupled with its commitment to innovation, collaboration, and sustainability, positions it as a key player in the field of rural development in India. With a track record of impactful interventions and a vision for the future, EP continues to be a catalyst for positive change, transforming lives and communities for the better. As EP celebrates 15 years of transformation this year, it continues to evolve and adapt to the ever-changing needs of rural communities, striving to make a lasting difference in the lives of those it serves. The journey of End Poverty is a testamenttothepowerofvision,dedication,andcollaborative efforts in paving the way for rural progress and breaking the chains of poverty. Here’s to 15 years of transformative impact and the ongoing commitment to building a brighter future for rural India. END POVERTY www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 33
  • 18. 34 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 35 This question has always raised debates across the business world: Does workplace diversity play an important role in productivity? We all are surviving through a hypercompetitive landscape, where organizations are constantly searching for ways to gain an edge. And workplace diversity is a highly discussed factor, but does it truly translate to a boost in productivity? In response to this, like most aspects in companies, boosting productivity is complex that comes from potential pros and cons to consider. We wanted to be the proponents of diverse workplaces to highlight several potential benefits via this exclusive article: 1. Escalated Creativity and Innovation: Teammates hailing from diverse backgrounds bring together a wider range of experiences and perspectives to the table. It is said to be leading out-of-the-box thinking and novel solutions. It is truly amazing that in 2019 one of McKinsey’s studies found that companies with the highest levels of ethnic and cultural diversity on their executive teams were 36% more likely to outperform the less diverse teams on profitability. 2. Improved Problem-Solving: It is well elucidated by business leaders that when diverse viewpoints are represented, blind spots are less likely to be missed. In a collaborative way, it can lead to more comprehensive and effective solutions to complex challenges. 3. Better Employee Engagement: It goes without saying that if employees feel valued and included regardless of their background, they tend to be more motivated, engaged, and invested in their work. And better employee engagement could directly translate to increased productivity and loyalty. Integration and inclusion are crucial for unlocking the full potential of diversity. Well, we talked about the pros of having workplace diversity and now we need to talk of the cons. Here are some potential roadblocks that could cause ruckus too in a work environment of which the management needs to be in the know: How does workplace diversity scale business productivity? BCM Inhouse 34 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 1. Communication and Collaboration Challenges: Impactful communication and collaboration skills are essential for diverse teams to thrive along the business trajectory. Training and support can be necessary to ensure everyone feels heard and understood. 2. Bullying and biasness: Even in diverse workplaces at big establishments, bullying and biased behavior can rear its head. And this could directly hinder inclusivity and collaboration. Well, if management keeps addressing and combating bias, it could maximize the benefits of diversity. 3. Measuring the Impact: Quantifying the precise impact of diversity on productivity remains a complex challenge. Factors like company culture, industry, and leadership styles all play a role. The takeaways It is a direct cause-and-effect relationship between diversity and productivity. And it is difficult to pinpoint with evidence that increasingly supports the notion that diversity, coupled with effective inclusion practice. Workplace diversity is a great driver of innovation, problem-solving, and eventually brings business success. Companies that create diverse and inclusive environments are not only doing the right thing for their employees but also building a strong foundation for themselves in this competitive world in the long run. Remember, creating a truly diverse and inclusive workplace is an ongoing journey, not a destination. By fostering a culture of mutual respect, open communication, and continuous learning, organizations can harness the immense power of diversity and unlock their full productive potential. www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 35
  • 19. 36 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 37
  • 20. 38 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 39 QUICKSHIP GLOBAL EXPRESS PVT. LTD. Elevating the Express Global Logistics Experiences with Seamless, Reliable, and Unparalleled Services AMAR KHURANA Founder Chief Customer Success Officer L ook for an express logistics service provider, and you will have endlessoptions.Butwhenitcomestopartneringwiththecream of the crop, a company that understands the complexities of cross-border logistics operations and provides a reliable and smooth solution is quite tricky. One such efficient logistics company navigating the complexities of international trade, QuickShip Global Express Pvt. Ltd., is creating new horizons in cross-border express courier, cargo, FBA Logistics, and e-commerce fulfillment logistics services and unlocking new possibilities for clients. Headquartered in New Delhi, QuickShip is India’s First digitally enabled Express Courier cargo consolidator for DHL, FedEx, TNT, USPS, Aramex, Inext, Purolator and Canada Post. As a global express courier, e-commerce FBA specialist, it is committed to providing unparalleled services that empower businesses and enhance the international logistics experience. The expert behind QuickShip is Amar Khurana, the writer of Amazon’s best-seller: “Selling Beyond Borders”, the industry leader and award- winning cross-border logistics and regulatory expert with 24 years of experience and who established Inext Group 15 years ago. After the success of Inext Logistics In 2016, QuickShip embarked on a visionary entrepreneurial journey, which has evolved into an incredible voyage of creativity, tenacity, and worldwide influence. Armed with a dedication to quality, QuickShip rapidly adapted to the changing needs of the business community and Individual clients by utilising cutting-edge technologies, strategic alliances, and a people- first approach. Initially, they focused on building a solid infrastructure on a national and worldwide level. Beyond establishing a physical presence, they fostered an in-depth understanding of Global markets, policies, and the finer points of international trade. This groundwork allowed them to position themselves. As not just a service provider but a true catalyst for business expansion beyond borders. In addition to being an express logistics innovator, QuickShip is a force for transformation, and the experience serves as a witness to the countless opportunities that await in the dynamic world of Global business. Unlocking the Power of Express Courier and Cargo Excellence The secret to QuickShip’s success is its expertise in express courier and cargo services, which cover more than 220+ countries. This assures effective, safe, and timely delivery worldwide. Strengthened by a self-established network in critical regions, including the UAE, USA, Canada, Australia, Europe, and the UK, QuickShip’s Express Courier and Cargo solutions offer a reliable and rapid transit experience, instilling confidence in businesses to navigate the global marketplace with ease. What Makes QuickShip a”Shining star of logistics? QuickShip is more than simply a service provider; they are architects of global opportunities, facilitators of growth, and partners in success. It is a gateway to global possibilities. QuickShip is your go-to partner for negotiating the intricacies of international trade, whether youareanIndianMSMElookingtoexpandinternationally, a multinational organization or an individual looking for dependable cross-border solutions. A few distinguishing characteristics of QuickShip are as follows: Global Presence: With more than 16 offices strategically located throughout India, QuickShip has a vast domestic network that guarantees timely and effective service. They have dedicated offices in the USA, Canada, and Hong Kong that enhance their worldwide operations. Strategic Partnerships: QuickShip takes immense pride in strategic alliances and partnerships with leading logistics brands, including DHL, FedEx, UPS, Purolator Canada Post, Inext, and Aramex. These collaborations demonstrate their dedication to providing superior cross- border logistics. Collaborating with industry giants grants QuickShip access to cutting-edge technologies, extensive global networks, and best practices, ensuring the highest service standards. E-commerce and FBA Logistics: The E-commerce and FBA Logistics and Fulfillment services simplify cross- border trade complexities, enabling businesses to tap into new markets. QuickShip’s solutions are designed to address the specific needs of online businesses and offer end-to-end support, allowing sellers and buyers to transact across international borders. Digital Portal: QuickShip’s digital platform offers a user-friendly interface for tracking shipments, getting real-time updates, and effectively managing logistics operations. Customer-centric Approach: QuickShip’s success is intertwined with its client’s success. They adhere to a customer-centric stance, perceiving each interaction as an opportunity to forge enduring connections. Their customer-centric approach is a cornerstone of their identity, and they are committed to exceeding expectations, understanding individual requirements, and offering personalized service. Industry Evolutions: Over the Years Over time, startups have experienced tremendous shifts, particularly in the e-commerce and logistics sectors. A visible trend has favored adopting cutting-edge technology, like automation, data analytics, and artificial intelligence, to optimize processes, boost productivity, and promote customer satisfaction. Additionally, startup companies are increasingly adopting and incorporating sustainable practices. People-centric approaches align with evolving market demands and societal expectations. Continuous Innovation: The secret behind Quick Ship’s victorious Journey Enable QuickShip to remain at the forefront of industry trends,new market needs, and technological breakthroughs. Investing in Continuous Innovation learning allows the firm to develop and implement cutting-edge solutions that enhance the efficiency of its logistics services. It empowers them to stay agile and adapt swiftly to the evolving demands of the global business environment. Moreover, Continuous Innovation learning are essential for improving operating procedures, regulatory compliance, and sustainability practices. It is consistent with the mission to provide innovative solutions that benefit both the industry and the environment, in addition to logistical services. Amar’s Take on Leadership Approach Leadership at Quickship is not merely a position; it’s a dynamic commitment to inspire, empower, and drive team achievement. It’s about creating an environment that values creativity, teamwork, and continuous growth. As CMD, Amar sees leadership as a journey of guiding our team towards excellence, ensuring every member contributes their best, and collectively steering Quickship towards new horizons in the ever-evolving logistics landscape. A Vibrant Synergy of Teamwork, Creativity, and Commitment The work atmosphere at QuickShip is a fusion of teamwork, creativity, and a shared commitment to quality. They prioritize creating a culture where teamwork is the key to success, ideas are welcomed, and each team member is appreciated. Quick Ship’s Forthcoming Plans QuickShip plans to leverage emerging technologies, forge critical alliances in the logistics industry, and consistently enhance its service offerings. By 2025, they aspire to establish their own offices in Australia, Germany, and the UK following the successful launch of their USA office this year. The potential of cross-border logistics, expected to develop significantly in the upcoming years, excites them even more. By utilizing their vast network, state-of-the-art technology, and dedication to providing unmatched service, they envision contributing to and benefiting from the expansion of cross-border logistics. Their aspiration to become a listed company in the next three years aligns seamlessly with their ambition to play a pivotal role in the evolving and flourishing cross-border logistics sector. Proudest Moments and Milestones QuickShip has created impactful partnerships with industry giants like DHL, FedEx, and Purolator. These collaborations have empowered QuickShip to provide unparalleled services, ensuring swift, reliable, and seamless logistics solutions for our clients. Especially noteworthy is their foreign expansion into the USA, Canada, and Hong Kong, which demonstrates their determination to create a worldwide presence. Along with its physical expansion, QuickShip Global Express has strategically partnered with major players in the Australian, German, and UK logistics industries. Additionally, their partnership with WCA Parcel and Ecommerce Network is a notable accomplishment that allows them to access an extensive network of logistics experts and bolster their position in the rapidly growing e-commerce logistics market. Words of Wisdom to Aspiring Entrepreneurs “Embrace challenges as opportunities, stay innovative, and surround yourself with a supportive team. Success lies in reaching goals, enjoying the journey, and learning from every experience. Continue to be passionate and determined, and follow your business drive.” TO WATCH-2024
  • 21. 40 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 41 From Parking to Retail: HOW DO AIRPORTS MAKE MONEY? Airports are not just places where planes land and take off. They are complex businesses with multiple revenue streams. From retail and food concessions to parking fees and airline fees, airports generate revenue from a variety of sources. In this article, we will explore how airports actually make money and provide examples to illustrate the different revenue streams. What are the sources of income for airports? Airline Fees One of the primary revenue streams for airports is airline fees. Airlines pay landing fees, gate fees, and terminal fees to use the airport’s facilities. Landing fees are based on the weight of the aircraft and the distance flown. Gate fees are charged for the use of a specific gate, and terminal fees cover the cost of using the terminal facilities. These fees can vary depending on the airport, and some airports offer incentives to airlines to encourage them to use their facilities. For example, Hartsfield-Jackson Atlanta International Airport, the busiest airport in the world, charges landing fees based on air- craft weight and charges a gate fee of $8.60 per 1,000 pounds of maximum gross weight. The airport also charges a terminal fee of $4.50 per passenger. Retail and Food Concessions Airports also generate revenue from retail and food concessions. These businesses pay rent to the airport to operate in the terminal building. The airport benefits from the rent and a percentage of the revenue generated by the businesses. Retail and food con- cessions are popular with travelers, who often have time to eat before their flights. This revenue stream has become increasingly important for airports as airlines have cut back on services such as in-flight meals. For example, John F. Kennedy International Airport in New York has a variety of retail and food options for passengers, including luxury brands such as Hermes and Gucci, as well as fast-food chains like McDonald’s and Dunkin’ Donuts. These businesses pay rent to the airport, and the airport receives a percentage of their revenue. Parking Fees Another revenue stream for airports is parking fees. Airports charge passengers for parking their vehicles in the airport parking lots. The fees can vary depending on the duration of the parking, the location of the parking lot, and the level of service provided. Some airports offer valet parking and shuttle services to and from the terminal building. For example, Dallas/Fort Worth International Airport charges $24 per day for parking in the terminal garages and $10 per day for parking in the remote parking lots. The airport also offers valet parking for $34 per day. Rental Car Concessions Rental car concessions are another revenue stream for airports. Rental car companies pay rent to the airport to operate in the airport terminal building. The airport also receives a percentage of the revenue generated by rental car companies. For example, Los Angeles International Airport has rental car companies such as Hertz, Avis, and Enterprise operating in the air- port terminal building. These companies pay rent to the airport, and the airport receives a percentage of their revenue. Traveling 40 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA Advertising Airports also generate revenue from advertising. Companies pay to advertise their products or services in the airport terminal building. The airport benefits from the revenue generated by the advertising For example, Heathrow Airport in London has advertising space throughout the terminal building, including billboards, digital screens, and sponsorship opportunities. Companies pay to advertise in these spaces, and the airport receives revenue from the advertising. Conclusion Airports are complex businesses that generate revenue from a variety of sources. Airline fees, retail and food concessions, parking fees, rental car concessions, and advertising are just a few of the revenue streams for airports. Each revenue stream requires careful management and planning to ensure that the airport is profitable. Understanding how airports make money is important for pas- sengers and airline industry professionals, as it provides insight into the challenges and opportunities facing the aviation industry. www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 41
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  • 23. 44 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 45 Ryma Foodtech Empowering the Cultivation of Prawns Naturally and Locally I ndia is the third-largest producer of marine products like fish and prawns. 7.96% of the world’s total fish production comes from it. Steadily turning into a significant part of the nation, the sector employs more than 28 million people. For the past ten years, India’s marine production has been rapidly increasing, and it is expected to have 100–150% growth within the next 5 years. Ryma Foodtech Private Limited, an Odisha-based firm, is empowering the natural shrimp industry in India with its innovative approach. Established in 2022, the company has a strong founding team led by a management expert, Amit Ailawadi, an IT expert, Jyoti Ailawadi, and an Aquaculture expert, Dinakrushna Nayak. Backed by a blend of modern technological advancements, principles, and practical experience in the cultivation of prawns and aquaculture locally in their own 25 ponds spread across 20 acres of land, Ryma envisions bringing a ray of hope for the local farmers where they can learn, earn, and grow. The company is working on this project at various levels. Ryma strives to break the existing nexus in the aquamarine sector of India. Farmer’s Dilemma ! Make no mistake: For a small-time farmer, cultivating shrimp is a mammoth task. Like any other crop, they require certain elements like ponds, seeds, feed, medicine, oil, and equipment. The first step of production is to plant the seeds, the tiny offspring of the crops, in specific, parameter-maintained water ponds. After the seeds are planted, it is vital to provide them with feed, frequent medication, and constant monitoring to ensure that there are no viruses, germs, or other issues that could affect the crop. Next, a water-churning device called an “aerator” is used. Churning water is needed as it provides the fish with sufficient oxygen to breathe and makes the pond habitat similar to that of the ocean. These machines run either on oil or electricity. Primarily, wherever these crops are being produced, like in Odisha or Kerela, they do not have top- notch infrastructure. People in rural areas mostly use generators because either there is no electricity or it can’t be relied upon. Furthermore, in this business, there is a nexus for everything! For instance, usually farmers lack the funds needed to purchase seeds and turn to product distributors. The distributors provide them with seeds on the condition that they get additional money over the actual price of the seeds (as interest) post-production. Farmers have to make similar arrangements for other necessities like feed, medicine, and oil. The exploitation of farmers doesn’t end here. After successfully growing the crop, they need to sell their harvest. Then comes the friendly neighbour exporter in the picture. (Well, not so friendly, actually.) These exporters provide the necessary additional funding for the farmers’ crops on the further condition that the crop, once fully grown, would be sold to only them at the ongoing prevailing rate. This rate is decided by none other than the exporters themselves. To get a better understanding of how farmers are exploited in this process, Ryma’s Managing Director, Amit Ailawadi, explains further through an example: Prawn’s Crop is usually grown 2–3 times a year. The first season or culture is from January to April. Due to the low life cycle of the crop, farmers can’t hold it after the fourth month of production. Amit Ailawadi Founder Meet the Leaders Amit Ailawadi, the Founder of “Ryma Foodtech”, is driving the achievements of the firm forward and essentially rewriting its success story. With 22 years of rich experience in Management and IT, he has a proven track record of spearheading projects for prestigious firms like Microsoft, Cisco, and Hewlett- Packard as Global IT head for a multinational company. He is also the founder of an IT firm, Ryma Technologies, and a construction company, Rapid Bricks Inc. In 2020, with the thought of doing something for the welfare of society, he started research in the interiors and untouched parts of India. He realised that there are many small, underdeveloped villages with limited resources. To empower them, he came up with the idea of Ryma Foodtech and piloted it in 2022. Along with him, his team is led by Jyoti Ailawadi and Dinakrushna Nayak. Jyoti is a graduate of Delhi University. With 22 years of experience, she is the Marketing and Operations head for Ryma Technologies (USA and Canada), and she has been actively leading the team to new heights. Dinakrushna, with 15 years of experience in aquaculture, is the local face of management for the project in the state of Odisha. Ideally, if the crop’s total cost per kg, including production and interest, comes to Rs. 250, the market price of the raw crop should be Rs. 350. This ensures a Rs. 100 margin, or a handsome profit margin of 40%, for farmers per season. However, since the exporters know the restriction of farmers to hold the crop beyond the given timeframe, they would smartly reduce the prevailing price drastically to say Rs. 240 (a price even less than the cost incurred by the farmers). A farmer at this time would have no choice other than to sell the crop at a loss and fall back into debt by having to pay a balance of Rs. 10 along with interest to be adjusted during the next season. During the next crop season, the price would normalise back from Rs. 240 to Rs. 350. Clearing the farmer’s financial backlog, making them content, and ensuring they would look forward to planting the third crop as well, not realising that the exporters are managing the show and keeping them under their clutches. It should be noted that the actual retail price at which the crop is sold overseas after processing comes to approx. Rs. 5500–6000 per kg (15 to 20 times higher than the farmer’s selling price) and has little or no impact on the procurement price for exporters. The idea of Ryma Foodtech was conceptualised to break this nexus, and they are doing this by uniting small farmers along with them. Mr. Ailawadi says, keeping global demand and the current growth rate in consideration, this is undoubtedly one of the most promising and profitable ventures for the near future, and in the process, their organisation intends to work for the welfare of the common farmers of the country as well. So far, in a short span of 8 months since its inception, 200+ small farmers owning over 275 farms have associated themselves with Ryma for efficient management, bulk pricing advantages, and assurance of a fair market price for their respective crops. “The team contacts the manufacturers directly to negotiate the best prices for input products like feed, seed, and medication. This lowers the operating costs and thus leaves greater room for margins. This is more like a communal advantage for farmers. So this is the whole idea,” adds the visionary leader. Project Plan: At a Glance • Phase 1: Initial Self-Farm Creation and Farmer Pool (Already Complete) • Phase 2: Focus on Sizeable Production (Currently in progress) • Phase 3: Exporting the Product • Phase 4: Sharing and Replicating the Business Model with State Governments and Administrative Bodies • Phase 5: Crowdfunding and Global Expansion As a part of Phase 4, Mr. Ailawadi and his team are already in discussions with numerous DMs in the states of Odisha, Jharkhand, Kerela, and Bihar. Many of them have agreed to provide land, support, and subsidies. For Project Phase 5, Ryma intends to utilise the 200 acres of additional land that they own through crowdfunding. Ryma would offer foreign investors ownership of a geotagged pond with assured fixed annual returns. The Investors would just need to pay for the management and setup, and Ryma’s team would do the rest.
  • 24. 46 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 47 VENTURING INTO THE ROLE OF THE IMMERSIVE TECHNOLOGIES IN THE MODERN BUSINESS REALM At first, Meta is driving changes with its colossal workforce of 10,000 talented people focused on mixed reality. Whereas Apple, with its 2,000 personnel aimed at extended reality, showcases a sheer commitment of big tech to immersive technologies. No denial that the market echoes this enthusiasm and with the immersive technology sector, it is valued at nearly $28 billion in 2021. And by the end of 2028, it is poised to skyrocket to over $252 billion. In the current scenario, customer experiences are palpable. Pointing to the budding demand, sales of AR/VR-related equipment and software surged by 50% during the period of 2019 and 2020. In addition to this, more than half of consumers are willing to rely on AR/VR for product assessments. This highlights a paradigm shift concerning interactive retail experiences. As per the compelling case study in the retail sector, the tangible outcomes of immersive technologies are at the core. Such as, a make-up retailer using AR for virtual lipstick trials happened to see customers aligning with the product nearly twice as many lipsticks compared to traditional in-store trials. Furthermore, AR users demonstrated long-term browsing and enhanced product engagement. It allows them to translate into a notable 20% higher likelihood of purchase. With the launch of ceaseless tech innovations spread across the business world, numerous immersive technologies redefine customer engagement. Be it AR, VR or MR, the tech advances are at the forefront of this transformative journey. At present, these are setting new benchmarks for enhanced interaction and experience. Driven by heavy investments from bigwigs like Meta and Apple, the whole business stage is up for global adoption across several industries. 46 www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA Trending Now digital platforms are also not left untouched from immersive technologies that further amplifies consumer engagement. One of the most popular visual discovery engines, Pinterest has recently forayed in AR with its “Try On for Home Decor” feature which empowers users to virtually visualize furnishings within their respective living spaces. And now, consumers utilizing this feature led to a 5x increase in sales compared to conventional pins. This example portrays the crucial role of immersive experiences in the escalation of conversion rates from the sales perspective. The holistic concept of the metaverse comes out as the next frontier in immersive engagement. Gartner’s projections foresee the metaverse evolving into a virtual nexus for employee interaction, supplanting traditional video conferencing with avatar-based collaboration. With estimates suggesting a tenfold increase in metaverse adoption among workers by 2025, businesses are poised to leverage this transformative paradigm shift for enhanced connectivity and productivity. What is worth mentioning is the fact that the metaverse’s potential goes beyond corporate space. It is now permeating across diverse realms with innovative applications. Moreover, Duolingo’s mascot, Duo, spearheaded the company’s metaverse debut. It is epitomizing the concoction of education and immersive technology within the Duolingo Game Hub. These initiatives echo a neoteric era where immersive learning experiences would be prominent. It is expected to transcend conventional frontiers and support high quality engagement. Hence, several businesses are turning to adopt immersive technologies as their growth drivers relevant innovation and customer-centricity. Whether it is AR-implemented retail experiences or metaverse-enabled partnerships, the evolution and implementation of immersive technologies poses a great deal of promise to reshape almost every industry. www.businessconnectindia.in | Vol. 6 | Special Edition March 2024 INDIA 47
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