
How a 49-year-old Pune co-supports global salmon farming
Image used for representative purpose only
PUNE: What started as a joint venture between Garware Wall Ropes led by the late industrialist Abasaheb Garware and a US based Wall Industries in 1976,
Garware Technical Fibres
, in its new avatar has transformed into a leading supplier of
advanced fishing cages
for global oceanic salmon breeding.
In the early days and even after the Garware family acquired the entire control Wall Industries, the company used to export nylon fibres as commodity and value-added products were not being developed as it was manufacturing oriented rather than innovation led organisation. This changed in around 2010 when the company made some internal changes making it a research focused entity.
"We studied some of the products in fishing business that were exported to the American continent.
We did a lot of deep interviews with the fishing companies and realised that we were giving them the wrong feature. They wanted durability and as opposed to that the company was giving strength. We and we changed the product completely and their response was so good," third generation entrepreneur and CMD of Garware Technical Fibres, Vayu Garware said.
The demand for fish, mainly salmon, is huge in international markets but availability of naturally bred fish population in the oceans is flat if not decreasing.
To address this issue, fishing companies deploy huge fishing cages in the oceans made from advanced synthetic fibre to create a fish farm which are sent to market after harvest.
There is a continuous need to improvise the features of these fishing cages, which can go up to 200 metres in diameter and 60 metres deep in the water. These cages attract predators like sharks around Australia or sea lions found near Chile, Scotland and Canada.
The predators push the cages in order to reach to the salmon and to prevent that the requirement was to make it more durable against the pushing. Many times, the sharks or sea lions push against the cages not to break them but to suck the water along with the salmon from within.
"So, we developed new cages by inserting steel to resist the pushing from the predators. This reduced the losses of fishing companies from 6-7% to almost zero.
A 6-7% loss of fish from the batch translates to millions of dollars to the fishing companies. But this was one of our earlier products and we have kept innovating since then," Garware said. Another problem is that algae and barnacles get deposited on the cages which stifle the growth of fishes as excessive growth of deposits reduces the oxygen supply.
The fishing companies had to deploy large automated machines to clean the cages which again increased the costs.
The practice was to paint the fibres with a coating but later on stopped as it was not environmentally friendly.
Garware said that the company developed recyclable polymer which was also embedded in the twines of the ropes so that the roots of algae and barnacles cannot entrench themselves on the ropes. Among the more recent additions, the company has used internet-of-things (IoT) and sensors in the ropes of the cages so that any damage or stress on the cages is relayed to the fishing companies so that they can send someone for repairs.
These innovations came after putting significant resources including time.
For example, we actually studied the sea lions underwater with cameras and teams of scientists, he said. The company is on the path of continuous innovation and to reduce share of raw exports from its sales. It is aiming that one third of its sales should come from newly developed products that are developed in the last three years.
This will keep all the functions of the company from research to marketing on their toes, Garware said.
Some of the other divisions of the company include geosynthetic business which includes rockfall protection.
There too, it is working on sensor based products which will be able to tell increased load of rocks and debris on the protective mesh so as to prevent accidents. The company earns around 35% of its sales from
aquaculture
business, 20% from food business, 15% from sports vertical and 15% from geosynthetic division.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
2 hours ago
- Time of India
New disputes emerge ahead of US-China meet in London
Beijing: US-China trade talks in London this week are expected to take up a series of fresh disputes that have buffeted relations, threatening a fragile truce over tariffs. Both sides agreed in Geneva last month to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession. Since then, the US and China have exchanged angry words over advanced semiconductors that power artificial intelligence, "rare earths" that are vital to carmakers and other industries, and visas for Chinese students at American universities. President Trump spoke at length with Chinese leader Xi Jinping by phone last Thursday in an attempt to put relations back on track. Trump announced the next day that trade talks would be held on Monday in London. The latest frictions began just a day after the May 12 announcement of the Geneva agreement to "pause" tariffs for 90 days. Live Events The US Commerce Department issued guidance saying the use of Ascend AI chips from Huawei, a leading Chinese tech company, could violate US export controls. That's because the chips were likely developed with American technology despite restrictions on its export to China, the guidance said. The Chinese government wasn't pleased. One of its biggest beefs in recent years has been over US moves to limit the access of Chinese companies to technology, and in particular to equipment and processes needed to produce the most advanced semiconductors. "The Chinese side urges the US side to immediately correct its erroneous practices," a Commerce Ministry spokesperson said. US Commerce Secretary Howard Lutnick wasn't in Geneva but will join the talks in London. Analysts say that suggests at least a willingness on the US side to hear out China's concerns on export controls. China indicated Saturday that it is addressing the concerns, which have come from European companies as well. Economic Times WhatsApp channel )


NDTV
2 hours ago
- NDTV
30-Year-Old Billionaire Still Shops At Shein, Drives Honda Civic: "I Don't Like Wasting Money"
Lucy Guo, the 30-year-old cofounder of Scale AI, recently dethroned Taylor Swift to become the world's youngest self-made woman billionaire. According to Forbes, her net worth is estimated to be around $1.25 billion, thanks to her significant stake in Scale AI, which was valued at $25 billion in a recent tender offer. Despite her vast wealth, Ms Guo lives modestly, favouring free clothes, fast fashion, and the occasional designer dress. She's also been spotted driving a Honda Civic and flying commercial. "I don't like wasting money,' the 30-year-old told Fortune. "In terms of like daily life, my assistant just drives me in a pretty old Honda Civic. I don't care. Everything I wear is free or from Shein… Some of them aren't going to be that great quality, but there's always like two pieces or so that really work out, and I just wear them every day. I still literally buy buy-one-get-one-free on Uber Eats," she added. Guo, now the founder of OnlyFans competitor Passes, also shared a quote that resonates with her approach: "Act broke, stay rich." As one of the few female billionaires under 40, Ms Guo believes that flashy displays of wealth are often a sign of insecurity, typically seen in millionaires trying to prove their success. In contrast, she prefers a low-key lifestyle, dressing down and avoiding extravagant spending. "Who you see typically wasting money on, designer clothes, a nice car, et cetera, they're technically in the millionaire range. All their friends are multimillionaires or billionaires, and they feel a little bit insecure, so they feel the need to be flashy to show other people, 'look, I'm successful. I'm not showing off to anyone, right?" she explained. Ms Guo reflected on her past, noting that many people go through a phase where they're successful but still seeking validation. She believes that billionaires often dress casually because they've reached a point where they no longer need to prove themselves to others. They're confident in their success and don't feel the need to flaunt it. Guo feels she's reached a similar stage, where she's past the need for external validation. "And I think that's kind of how I like feel, where I'm past that hump. I don't really have to prove myself to anyone. No one's going to look at me and point at me like, 'Haha, she's so broke' when I'm pulling up in a Honda Civic because whatever, it doesn't matter," she added. Who is Lucy Guo? Lucy Guo is an American entrepreneur, software engineer, and social media influencer born on October 14, 1994, in San Francisco, California. Raised in Fremont, California, by Chinese immigrant parents who were electrical engineers, Guo showed an early aptitude for technology, teaching herself to code in second grade and building websites by sixth grade. She attended Carnegie Mellon University to study computer science but dropped out in 2014 after receiving the Thiel Fellowship, a $100,000 grant to pursue entrepreneurial ventures. She co-founded Scale AI in 2016 at age 21 alongside Alexandr Wang, who was 19 at the time. Notably, Scale AI provides high-quality training data for AI applications. Though Ms Guo was fired in 2018 due to internal differences, she retained her equity, which significantly contributed to her wealth when the company's valuation reached $25 billion in 2025. Before finding Scale AI, Ms Guo worked as a product designer at question-and-answer firm Quora, where she met Mr Wang. She then left Quora and worked briefly at Snapchat doing product design before she and Mr Wang decided to cofound Scale AI in 2016. After leaving Scale, she started a small venture capital firm called Backend Capital to invest in early-stage companies. Then, in 2022, she started her own business called Passes, a platform for creators and celebrities to connect with fans, who pay for online chats and videos.


India.com
4 hours ago
- India.com
Why is Trump desperate for a trade deal with China? Know the SHOCKING reasons that brought US to its knees due to...
(File) China Rare Earth Elements: After assuming office for his second Presidential term in January this year, Donald Trump instigated a trade war with China by imposing exorbitant import tariffs on Chinese good. However, nearly six months later, the US President is desperately seeking a trade deal with Beijing to prevent key American industries from collapsing. Here's the reason why Trump made a U-turn on China, and is appeasing the Asian power to seek a China-US trade deal. Why US bent the knee to China? China dominates the global supply of rare earth elements, which are used by the US defense industry to manufacture advanced weapons and defense systems like radar systems, fighter jet engines, etc. According to a report by the South China Morning Post, China controls more than 90 percent of the world's processing and refining of rare earth elements, and also leads in other refining an extraction of other critical minerals like refined gallium, of which it controls 98.8 percent of global production. In recent years, Beijing has leveraged its dominance in critical mineral production and refining as a major negotiating point in trade wars, as well as targeting the defence industries of the US and its allies. The US defense industry is majorly dependent on China for rare earth minerals, but the supply has been nearly halted due to the ongoing US-China tariff war. China has imposed an export ban on rare earth elements to the US, effectively weaking the Pentagon's Pentagon's military preparations and weapons manufacturing capabilities. How China pressured the US into submission? In July 2023, Beijing imposed export controls requiring Chinese exporters to seek permission to ship eight gallium-related and six germanium-related products to other countries. In August last year, the list was expanded to include antimony, and in December, the Chinese Ministry of Commerce imposed export restrictions on gallium, germanium and antimony to the United States, as Beijing anticipated a trade war when Trump assumed office. In April this year, Beijing imposed export restrictions, mandating special export licenses for seven categories of medium and heavy rare earth elements (REEs) – samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium – as well as magnets and other finished products containing these REEs to be shipped out of China. China's sweeping restrictions on REEs brought defense manufacturing to a halt in US and its allied countries, as supplies of rare earth minerals required for weapons' manufacturing rapidly thinned out. Why US requires large quantities of REEs? The United States is world's largest arms manufacturer and its defense sector requires a gargantuan amount of rare earth minerals to manufacture advanced modern weaponry such as precision-guided missiles, stealth fighter jets, naval warships, submarines and advanced radar systems. According to various reports, the US-made F-35 stealth fighter incorporates over 400 kg (900 lbs) of REEs in each unit for its jet engines, avionics, munitions and radar systems. The F-47, US' Next-Generation Air Dominance (NGAD) fighter jet, is expected to contain even larger amounts of critical minerals, due to cutting-edge features like unmanned flight, artificial intelligence integration, and next-gen stealth capabilities. Similarly, US navy warships and submarines require giant quantities of REEs, with Virginia-class submarines requiring 4,200 kilograms and Arleigh Burke-class destroyers needing 2,360 kilograms of REEs for their radars, munitions and other technologies. US Predator drones, Tomahawk missiles, Joint Direct Attack Munition (JDAM) smart bombs, and advanced radar systems all rely on rare earth elements for propulsion, targeting, and guidance. According to experts, more than 80 percent of the Pentagon's weapon system supply chains contain antimony, gallium, or germanium. Does US have REE resources? While the US does have rare earth resources, those pale in comparison to China's gigantic hold on global refining and processing of REEs. The US accounts for around 15 percent of global production of REEs, but its not enough to meet the rare earth needs of US industries, especially the defense sector. Since 2020, the Pentagon has invested $439 million to build domestic supply chains in critical minerals, and a $35 million contract was awarded to MP Materials in 2022 for a heavy rare earth processing facility. However, its supply chain is still miniscule compared to China, and thus needs to import a major chunk of REEs from Beijing. In 2024, MP Materials announced a record production of 1,300 tons of neodymium-praseodymium (NdPr) oxide for producing neodymium magnets, while China produced an estimated 300,000 tons of NdFeB magnets in the same year. China's antimony dominance Additionally, the US does not have any mining facilities for gallium, while China reportedly produced 750 of the 760 tons of primary low-purity gallium produced worldwide in 2024 and is known to have production capacity of up to 1,000 tons. China also holds about 48 percent of the world's mined antimony, controls 98.8 percent of refined gallium production, and is responsible for 59.2 percent of refined germanium production. All these critical minerals are used in the manufacturing of advanced weapons, ranging from armor-piercing bullets, night vision goggles and cables, to nuclear weapons and naval warships.