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Business

Though Vinod Saraf always dreamt of having his own business, he had no inkling that one day he would be helming a billion dollar …

Adding that personal touch

The entrepreneurial world may have become faster and more cutting edge. However, this does not take away from the fact that interpersonal relationships are the basis of any Marwari business. MARWAR speaks to a few people from the community to learn how they juxtapose the essence of human touch with modern profit-making techniques.

Of Old Values and New Methods

Over the last few years, the Marwari community has experienced a greater exposure to global cultures, new business practices, novel ideas and developments. Has this led to a shift from traditional business practices to more modern ones? MARWAR speaks to different members of the community to learn how they balance tradition and modernity, especially when it comes to their business.

In 2013, Shashwat Goenka took up the challenge of turning around the loss-making Spencer’s Retail Ltd., the retail chain of the RP-Sanjiv Goenka Group. Two years later, Spencer’s seems to be hitting its stride with large format stores and a new strategy.
The 25-year-old scion speaks about his journey after taking charge, the skills and ethics learnt from elders and his future plans.

The Marwari Heritage by historian and writer Dr D K Taknet takes readers on a voyage of discovery of Marwaris who migrated from Rajputana, Haryana, Malwa and its adjoining regions to other parts of India. Meticulously researched over five years, the final product—a stunning pictorial book—comprises 511 pages with rich illustrations and rare photographs.

Mumbai owes much of its transformational journey to the cotton merchants who reigned over the city’s flourishing cotton industry from the mid-nineteenth century to the late twentieth century. Among the most illustrious of them was cotton baron Ramnarain Ruia, the founding father of a business empire that survives till today. Sadly, in spite of his enormous contributions, there is little that we collectively remember of him, let alone pay him the tribute he deserves.

In what began as a textile trading business over three decades ago, Mandhana Industries Ltd has come a long way to boast a current top-line of Rs 1,700 crore. At the helm of this tremendous growth have been continual efforts of two successive generations, with the innovative streak of scion Manish Mandhana adding the latest spurt of growth to the ever-expanding business.

Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited, has his eyes set on a new milestone—the 2015 Ferrari Challenge Europe Championship. Singhania, who turned 50 this September, speaks to MARWAR about his ardour for motor sport, his ability to balance work and personal life and his need to live in the moment.

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