Fortune India - November 2019
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November 2019 issue Digital Access. - Magazine Details
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Family Business:Family Business: AN IN-DEPTH SURVEY of family businesses in India conducted recently has some interesting insights into how such businesses plan to grow in future. The PwC India Family Business Survey 2019 shows that nearly 60% of companies with a turnover of more than $20 million were present in multiple countries in one sector (35%) or multiple sectors (24%), reinforcing the belief that as companies increase in size, a key facilitator of growth is expansion into new markets or territories. The survey points out that this, perhaps, is why 78% of family businesses in India currently export their goods or services and 89% plan to do so over the next five years. “On an average, foreign sales account for 25% of the turnover for companies in India (26% globally) and in five years, this is expected to rise to 34% (33% globally),” it notes. These findings assume particular significance when seen in the context of Bajaj Auto—the world’s third-largest motorcycle company with a top line of `30,000-crore—which is helmed by Rajiv Bajaj, the older son of group patriarch Rahul Bajaj. Bajaj Auto currently exports as much as 40% of its products and, consequently, likes to call itself “The World’s Favourite Indian”, a tagline it chose after decades of using the iconic earlier one, “Hamara Bajaj”. The new tagline reinforces the company’s strategy of exports being a key element of its growth strategy. Rajiv Bajaj tells deputy editor Aveek Datta, who travelled to Pune to piece together the cover story for this issue, that the origins of this export-driven strategy lay in what Rahul Bajaj told him: “Do what you think is best, but be the best in what you do.” In other words, Bajaj Auto should be world class and that could happen when the company exports 20% of its products. There are other interesting stories too. Happy Reading!
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The Most Prepared Woman in Washington
TRAILBLAZING TREASURY SECRETARY JANETYE YELLEN IS RENOWNED AMONG PEERS FOR HER ME TICULOUS RESE ARCH AND RELENTLESS FOCUS. AS THE B IDEN ADMINISTR ATION ’S ECONOMIC POINT PERSON, THE FORMER FEDER AL RESERVE CHAIR IS NOW CHARGED WITH STABIL IS ING AND STIMUL ATING AN ECONOMY R AVAGED BY THE PANDEMIC. AND THAT’S JUST THE BEGINNING OF HER AMBITIOUS AGENDA .
The Conversation AJAY BIJLI
Covid-19 impacted many businesses, with one of the hardest hit being movie halls. This included PVR, India’s largest multiplex chain. However, it was able to raise funds during the pandemic, says chairman Ajay Bijli. The 54-year-old says his company is now in its revival phase and he isn’t overly worried about movies directly releasing on OTT platforms. He also talks about what keeps him going.
THE BRIEF BUSINESS DISTILLED
Boom in the Time of a Pandemic A year after the onslaught of the global pandemic, FPI inflows, corporate performance, and news of the vaccines were key to the Indian equity markets’ immunity against Covid-19. BY RAJIV BHUVA
THE BIG E-SCOOTER
OLA ELECTRIC HAS UNVEILED A S FOR A ME A FACILITY THA WILL MAK ONE E-SCOOTER EVERY TWO SEC NDS. OLA HAS SET I S SIGH S ON CONQUERING THE WORLD, BUT BEFORE THAT, IT HAS TO CON END WITH LOCAL RIVALS AND INDIA’S ANAEMIC ELECTRIC VEHICES LES.
SERVICE BEGINS AT HOME
HOME AND SALON SERVICES PROVIDER URBAN COMPANY’S REVENUES DROPPED TO NEARLY ZERO DURING THE LOCKDOWN. BUT, NOW, BUSINESS IS BOOMING. IT HAS SINCE SERVED 5 MILLION CUSTOMERS, AND HAS ITS EYES SET ON AN IPO IN THE NEXT FEW YEARS.
IT'S BACK TO OFFICE
IN INDIA, THERE ARE MANY FACTORS AT PLAY WHICH MAKES THE OFFICE CRITICAL FOR EMPLOYEES AND COMPANIES. THAT SAID, THE COVID-19 PANDEMIC HAS IRREVERSIBLY CHANGED THE WAY COMPANIES AND PEOPLE VIEW THE OFFICE.
COLD-BLOODED
ELON MUSK IS NOT ABOUT TO LET A FEW ENDANGERED REPTILES THROW A WRENCH INTO TESLA’S PLANS FOR A GERMAN GIGAFACTORY— AND EUROPEAN DOMINATION.
Luxury Hotels To Call Home This Summer
A luxury hill resort can be the perfect summer getaway. Here we bring you a list of some hotels to make your vacation memorable.
Check Into The New Normal
One year after the pandemic hit the hospitality industry like a tsunami, the experience of going to a hotel has radically changed. From extensive usage of technology to ensure a zero-touch policy to completely overhauling old business strategies and making them anew, hotels have imbibed new learnings and are forging ahead.
To Tweet, Or To Koo? That Is The Question
Home-grown microblogging platform Koo—which provides non English speakers a platform to express themselves—is the flavour of the season. But will it prove to be a viable alternative to Big Tech and other domestic platforms?
