In January this year, US forces killed top Iranian general Qasem Soleimani in an airstrike. The incident roiled global markets, but for Jaipur-based Adarsh Mahipal Gupta, who sells auto components under the Autopal brand, it came as a shock. Gupta had appointed a local agent in Iran to sell auto components there and shipped the consignment. The episode led to his payment getting stuck.
Just as the situation was improving in Iran came news about coronavirus outbreak in China. Gupta, who is Director (Finance and Marketing) in the family-run AutopalMPG Group, recalled two of the company’s Indian staffers and laid off two out of four local employees in his Shanghai office. The group, which imports components worth ₹15 crore annually from China, has suspended trade. The lockdown has resulted in almost all its payments getting stuck. It is struggling to pay salaries to 1,100 employees.
Gupta has made up his mind to get into essential items and emerging areas – medical equipment and artificial intelligence – so that cash continues to flow even during a tough business environment. “We plan to enter artificial intelligence and medical equipment. We already have a software firm. We are talking to possible joint venture partners. Regarding making medical equipment, it is easier for us, given that we are already into auto component manufacturing,” he says.
This story is from the May 31, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 31, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Picking Up The Paytm Pieces
Paytm Founder Vijay Shekhar Sharma Is Back In The Trenches After Rbi's Recent Action Left Him Without A Banking Platform. There Are Still Some Opportunities, But He Will Have To Move Swiftly To Grab Them
PMS Vs MF The Big Fight
How do mutual funds and portfolio management services match up? Know the score on structure, rules, entry fees, charges, and tax perks to pick the right path for your financial journey
Four Levers Of Enterprise AI Strategy
Wide-scale private sector AI deployment and new AI-based business opportunities and ecosystems can truly supercharge the Indian economy
"Don't let a unique chance slip by"
JEFF MAGGIONCALDA | CHIEF EXECUTIVE OFFICER | COURSERA
THE INCOMING DISRUPTION
The disruption in the industrial sector is still unknown, but inevitable. Companies need to wake up
THE WHEEL WHISPERER
For Manan Shah, Managing Director of MICL Group, luxury cars are not about showcasing one's wealth or status. It is about personal well-being
TRIPPING WITH TECH
A road trip is an adventure like no other. While you take in the experience, get some peace of mind with these nifty gadgets
Transforming Spaces
WHETHER YOU WANT TO REDECORATE YOUR BEDROOM OR HALLWAY, A GORGEOUS WALLPAPER ADDS FLAIR TO YOUR HOME AND ALLOWS YOU TO STAMP YOUR STYLE IN YOUR NEW ABODE
ALPHATALE
MONEY MANAGERS TO THE AFFLUENT DELIVERED ROBUST RETURNS TO INVESTORS IN THE PAST YEAR, THANKS TO THE BUOYANCY IN THE MARKETS. BUSINESS TODAY DECODES THEIR STRATEGY
"THE ALTERNATIVES SPACE CAN GROW 3X IN FIVE YEARS"
Vikaas M. Sachdeva, MD of Sundaram Alternates, talks about where India's alternative investment industry is headed