Making money is serious business; any industrialist will tell you that, but their roadmap to success can inspire budding entrepreneurs.
Several industrialists shared their experiences at the convention of micro, small and medium scale industries (MSME) at the Global Investors Summit in Indore on Sunday.
Director of Bend Joints, Govindpura, Uttam Ganguly has a four-point charter. “Respect for everyone, safety of workers, truthfulness in dealings and transparency in policy, has helped us reach where we are,” said Ganguly. “That’s why we have a very low attrition rate,” he said.
Ganguly believes in sharing his profits and distributes 15% of the total profits among his workers. He also believes in empowering women and has employed them as welders. “People call me mad but I do not follow set patterns,” he said.
Cleanliness is also his focus and every second Saturday, he along with his entire staff cleans the factory. “Even Japanese and European industrialists are impressed by the cleanliness standards,” Ganguly said.
CP Sharma’s tale is no less inspiring. He was a boy when his uncle started Daulatram Industries in Bhopal in 1970 for manufacturing washers for a product supplied to BHEL. “Soon we were making the product for which we were supplying the washers. This journey of backward integration has led us to manufacture sophisticated engineering equipment. We plan to set up a locomotive manufacturing plant in Sehore,” Sharma said. He told budding entrepreneurs to think big. “If you are small scale, move up to medium scale and then large scale,” he said and also advised, “never give up three departments–human resources, public relations and research and development–as the work of signing cheques can be done by anyone,” he said.
It was grit and determination that saw CE Fernandez, president and managing director of JEI Industrial Systems, Limited (Bhopal) build up his enterprise. “BHEL asked us to make a product within Rs. 3.25 per piece, which was available for Rs. 7 in the market. I took up the challenge, borrowed Rs. 10,000 and made the product in Rs. 1,” Fernandez said. He had to face many difficulties while attempting to expand his factory but every time his perseverance paid off.
Anand Bangar of Arpit Plastics, Ujjain and Gaurav Aeron, managing director Aeron Group, Pithampur also shared their experiences.
In his inaugural address, industries commissioner, RK Chaturvedi spoke of the facilities given to MSMEs in the state. Small Industries Development Bank of India (SIDBI) deputy managing director NK Maini also addressed the gathering.