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India needs thousands of innovators like Suhas Patil and Anjan Bose
These are "hidden champions" of strategic research and innovation. They are worthy of emulation within Indian industry, and maybe even a Padma!
R Gopalakrishnan Mumbai
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I love low-profile builders of technology-led and 'psychological market share' businesses — hidden champions (Hermann Simon, HBS Press). Businesses and organisations should be designed for Deergha Ayush (long life), which connotes that business is a living entity. The metaphor of life appears in my 2017 book A Biography of Innovations — an idea gets 'conceived' (foetus), the idea goes through 'adaptation' (childhood), then a 'prototype' (adolescence), before emerging as a 'product' (young adulthood), which evolves with updates for continued success (maturity) over its life.
On a recent trip to the United States (US), I reconnected with two contemporaries from the
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Hindustan Times
44 minutes ago
- Hindustan Times
No new excise policy for Delhi, current one to continue till March '26
With no clarity on a new excise policy that has been under preparation for over 33 months, the Delhi government on Friday announced the extension of the existing liquor policy till March 2026 — one of the longest such extension since the scrapping of the 2021-22 excise regime in September 2022 following allegations of irregularities. The last implemented excise policy (2021-22) was withdrawn following allegations of irregularities in September 2022.(Representational) The extension means the city will continue to operate under the 2020-21 policy — which has already been extended five times. The move, officials said, was necessary to ensure uninterrupted liquor supply as the current extension was set to expire on June 30. The last implemented excise policy (2021-22) was withdrawn following allegations of irregularities in September 2022. 'The competent authority has granted approval for continuation of the excise duty-based regime… for the excise year 2025-26 (July 1, 2025 to March 31, 2026),' said a June 27 order issued by the excise department. It confirmed that wholesale licenses (L-1, L-1F), retail (L-2), hotel, club, and restaurant licenses would be renewed on existing terms upon payment of the applicable fees. An excise official said licensees across all categories will need to renew their permits to continue operations, including Delhi government-run liquor vends. The rollout of a new policy has now been stalled for nearly two years. Initially expected in late 2022, its drafting was delayed first due to ongoing probes into alleged corruption in the 2021-22 excise policy and later by the Lok Sabha elections in 2024, and assembly elections in early 2025. Following a CBI inquiry and the arrests of several Aam Aadmi Party (AAP) leaders, including then chief minister Arvind Kejriwal, the government reverted to the 2020-21 regime in September 2022. The continued extensions have created supply issues, with many popular Indian and international liquor brands — especially premium whiskies, vodkas, and wines — frequently out of stock. Industry observers and consumers have urged the government to revamp the policy to match the more liberal excise regimes in neighbouring Uttar Pradesh and Haryana, where private retail players are allowed and customer experience is more robust. Currently, only government-run liquor outlets operate in Delhi. While the current policy technically allows for private participation, no decision has been taken on whether to allow private players until the new policy is implemented. The newly elected Bharatiya Janata Party (BJP)-led government in Delhi has said it is drafting a new excise regime that will focus on 'transparency, quality, and accountability,' with improved consumer experience and safeguards for public health. A high-level committee headed by chief secretary Dharmendra is reviewing practices from other states and consulting stakeholders. Chief minister Rekha Gupta recently told HT that the new policy aims to reduce business flight to neighbouring Gurugram and Noida. 'It will enhance consumer experience while ensuring regulatory checks,' she said. However, this policy appears to have been delayed for now. A separate circular issued Friday added that all existing licenses, including L-6 (government retail), L-6FG (supermarkets), and L-10 (hotels/clubs/restaurants), would be renewed for the nine-month period starting July 2025, subject to compliance with the Delhi Excise Act, 2009, and Delhi Excise Rules, 2010. Vinod Giri, director general of the Brewers Association of India, the extension of the policy should have been extended in entirety. 'Old policy had provision for private retail which is essential for ensuring a consumer friendly and market driven product availability and retailing experience in the city. So we urge the government to ensure that private vends is introduced using existing provisions in the policy as soon as possible which is in the interest of consumers, industry and also the government,' he said.
Time of India
an hour ago
- Time of India
ITC chairman's salary flat in FY25 after 54% jump in '23-'24
1 2 3 Kolkata: After a 54% jump in salary in 2023-24, the remuneration of ITC chairman Sanjiv Puri remained almost flat in 2024-25, per the annual report of the FMCG, tobacco and agri major. Puri's total remuneration was Rs 25.6 crore in 2024-25, compared to Rs 25.2 crore in 2023-24. In FY25, his basic salary was Rs 3.5 crore, perquisites Rs 73 lakh and performance incentive Rs 21.4 crore. P uri drew a basic salary of Rs 3.1 crore, perquisites and other benefits of Rs 57 lakh and a performance bonus of Rs 21.5 crore from the diversified conglomerate in 2023-24, according to the company's last annual report. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata In 2022-23, his total remuneration was around Rs 16.2 crore, which included a basic salary of Rs 2.9 crore, perquisites and other benefits of Rs 57 lakh and a performance bonus of Rs 12.8 crore. Sources said Puri's salary hike last year was mainly because of long-term incentives from previous years being paid off. "The main difference between the components of 2022-23 and 2023-24 was the performance incentive, while other components remained flat. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Knee pain prices might surprise you Knee pain | search ads Find Now Undo In FY25, the performance incentive remained almost the same and overall, it was flat," said a source. ITC witnessed a 0.8% jump in profit after tax in the fourth quarter of 2024-25 to Rs 4,875 crore from Rs 4,837 crore in the corresponding period of 2023-24 for continuing businesses. The net profit was Rs 19,562 crore for the fourth quarter of FY25 with discontinued business. Meanwhile, ITC launched over 100 new products in the last fiscal year. It was anchored on the vectors of health & nutrition, hygiene, protection, care, convenience & on-the-go, indulgence and others. The FMCG businesses, comprising branded packaged foods, personal care products, education and stationery products, incense sticks (agarbattis) and safety matches, have grown multi-fold over the past several years. ITC's portfolio of over 25 Indian mother brands, largely built through an organic growth strategy leveraging institutional synergies in a relatively short period of time, represents an annual consumer spend of over Rs 34,000 crore and reaches over 260 crore households in India, the report said.
Time of India
an hour ago
- Time of India
Mazagon Dock's Lanka deal to give India big foothold in region
NEW DELHI: In a major development, Mumbai-based defence shipyard Mazagon Dock Shipbuilders Limited is poised to acquire a controlling stake in Sri Lanka's largest shipyard, Colombo Dockyard PLC (CDPLC), in a deal worth almost $53 million. The move marks the first international acquisition by India's largest shipyard that builds submarines, warships and other vessels, and will provide it with a 'strategic foothold' in the Indian Ocean Region (IOR). China, of course, has made deep strategic inroads into Sri Lanka. Chinese Navy's expanding presence in IOR, along with its hunt for additional logistical hubs in the region, has emerged as a major security challenge for India. The $53 million investment will be carried out through a combination of primary infusion and secondary share purchases, including the acquisition of shares from Onomichi Dockyard Co Ltd, the current majority shareholder. Lanka deal to herald our emergence as global player: MDL Upon completion, subject to customary regulatory approvals and closing conditions, Colombo Dockyard PLC (CDPLC) will become a subsidiary of Mazagon Dock Shipbuilders Limited (MDL). Mazagon Dock chairman and managing director Capt Jagmohan told TOI that the proposed acquisition of a controlling stake in CDPLC, which has been approved, is a "gateway" towards achieving the shipyard's ambition of transforming into a regional maritime player first and then into a global shipbuilding enterprise. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Gorgeous Women, Ranked BigGlobalTravel Undo "With CDPLC's strategic location at Colombo port, proven capabilities, and strong regional presence, this step will position MDL as a key player in South Asia and lay the foundation for our emergence as a global shipyard," Capt Jagmohan said. CDPLC has more than five decades of experience in shipbuilding, ship repair and heavy engineering. "It has a track record of delivering complex offshore support vessels, cable-laying ships, tankers and patrol boats for clients across Japan, Norway, France, the UAE, India and several African nations," another MDL official said. CDPLC is currently pursuing a pipeline of orders over $300 million, which includes cable-laying ships, multi-purpose utility ships and newbuild fleet support vessels. "With MDL's support, particularly in technology sharing, access to Indian supply chains, and entry into Indian and allied maritime markets, CDPLC is well positioned for a financial turnaround and long-term growth," the official said. MDL, on its part, continues to do well in India. In partnership with German company ThyssenKrupp Marine Systems (TKMS), MDL is on course to bag the mega project to build six new stealth diesel-electric submarines for the Navy. The initial cost of these submarines, with both land-attack cruise missiles and air-independent propulsion (AIP) for greater underwater endurance, was estimated to be around Rs 43,000 crore when it got the 'acceptance of necessity (AoN)' by the defence ministry several years ago. It will now be around Rs 70,000 crore, as reported earlier by TOI. Another major contract for MDL in the pipeline is the proposed construction of another three French-origin Scorpene submarines with AIP at a cost of around Rs 38,000 crore. These three new submarines, if approved, will add to the six Scorpene or Kalvari-class submarines already built at MDL for over Rs 23,000 crore.
