Rakshay Dhariwal - THE PARTY STARTER

Dhariwal's business portfolio includes Passcode Hospitality, India Cocktail Week (ICW), and Maya Pistola Agavepura

- Jahnabee Borah

It's a busy weekday evening in the corporate and dining hub of Lower Parel in Mumbai when I catch up with Rakshay Dhariwal at his bar, PCO, which feels like an oasis in the chaos of traffic snarls.

Dressed in an indigo-blue collared T-shirt paired with charcoal-grey trousers, the pioneering food and beverage entrepreneur settles down with a glass of water after getting me a cup of coffee.

Dhariwal's business portfolio spans three distinct areas of hospitality: the company Passcode Hospitality, established in 2012, runs 20 bars and restaurants across the country; the events venture India Cocktail Week (ICW), which he set up in 2019; and premium homegrown agave spirits brand Maya Pistola Agavepura, founded in 2022.

Dhariwal tends to be a step ahead of the curve and has a knack for spotting trends—giving him the first-mover advantage in the competitive hospitality landscape of India.

"I am a big believer in going after what the future entails. I have lived in different places and continue to travel a lot, which exposes me to the newest and hottest global trends. Then I ask myself whether they exist here, and if they don't, I bring them. I have developed an instinct for what will and won't work. I feel it's my job to elevate the F&B scene in India," says the 40-year-old.

F&B is a difficult space to crack in India, but the post-pandemic boom in eating and drinking out among consumers has been an encouraging time for entrepreneurs.

In April, United Spirits, the Indian arm of multinational beverage company Diageo, acquired a 15% stake in Maya Pistola Agavepura, whose post-money valuation stands at ₹38 crore. Pass Code Hospitality is valued at ₹345 crore, and ICW at ₹25 crore.

Dhariwal always wanted to run a business. "Children want to be race car drivers or astronauts, but I was pretty certain I wanted to be a businessman," he says.