Vivo’s V-Shaped Comeback

Price ` 200 May 8, 2020 R N I

R eg. No. M A H E N G /2009/28102

Jayakrishnan T Gautham Prashant Pasupuleti Warier Asimov Robotics Biodesign Qure.ai Innovation Labs Ventures Vs Virus

Suhani Mohan Atul Rai Shashank Mahesh Saral Designs Staqu Technologies Innaumation forbesindia.com / Volume 12 issue 8 april 10, 2020 Ventures Vs Virus A selection of startups that has tweaked its solutions to lend a hand in the battle against the global pandemic

Fixing Meet the Warriors Opportunities the Food on the Covid-19 for Big www.forbesindia.com Supply Chain Frontlines Tech Welcome to the INDIA

Tablet Edition Testing becomes the biggest challenge amid mass movement and community transmission Letter From The Editor

Of Antibodies and Anti-bias

s of April 20, 8 am Indian Standard Time, remodelling existing solutions to ease the pressure on public India had 14,175 active Covid-19 cases, health care. Varsha Meghani and Naini Thaker unearthed 2,546 infected had been discharged and seven such ventures—from one repurposing robots to treat A 543 had died. Those numbers in a country patients of the pandemic to another deploying artificial with a population of 1.35 billion may not ring alarm bells, intelligence and machine learning technology meant for particularly when you compare India with the US (764,265 TB analysis in diagnosing Covid-19. And we have a fine cases and 40,565 deaths), Italy (178,972 and 23,660), Spain collection of other pandemic-related stories, including (198,674 and 20,453) and France (152,894 and 19,718). one that captures the tribulations (and joys) of health Yet, few countries share the complexities of India. workers at the frontlines, and another on the community- One of every six urban Indians is estimated to live in based initiatives to combat the economic fallout. slums (typically 10x10 ft rooms in each of which six In a statement in end-March, Fernand de Varennes, to eight family members or workers live together). the UN Special Rapporteur on minority issues, said that Over two thirds of the population resides in rural “Covid-19 is not just a health issue; it can also be a virus that areas. And the country’s population density is high exacerbates xenophobia, hate and exclusion”. Indeed, across (1,202 per sq m as against the global average of 38). the world—India included—fears around Covid-19 are being Almost 10 percent of India’s population—over 120 exploited to scapegoat communities. The Chinese have been million—is estimated to be migrants from rural areas to obvious targets and, along with the hate, cries to stop buying urban labour markets. Staying put in their rented urban Chinese goods can be heard globally. However, the reality dwellings during a lockdown is a poor alternative for is that China is yet at the fulcrum of the global supply chain, them, as they have no work and have run out of money. particularly for telecom and electronic equipment. The Amid these challenges of mass movement and Indian mobile handset market, for instance, is dominated by 3 community transmission, testing becomes the biggest the Chinese, with Xiaomi at No 1, and Vivo a recent No 2. challenge. Data released by the Indian Council of Our big story this fortnight is on how Vivo came Medical Research shows that a little over 400,000 in from the cold to take that No 2 position. Vivo India samples from 384,000 individuals had been tested as of CEO Jerome Chen tells Rajiv Singh how the brand April 19. As of April 18, India had tested 0.26 people per overcame the initial perception of Chinese players being 1,000; Italy’s ratio of tests performed stood at 22.08. fly-by-night. But will Covid-19 set them back? Chen, no The good news is that private laboratories have joined stranger to crises over the past couple of decades, tells government ones in the testing endeavour. And hundreds Singh: “Our culture as a company has been to overcome of thousands of testing kits had arrived from China. difficult times.” And he has a message for the rabble- India can do with all the help it can in fighting the Covid- rousers: “No matter whether we are in China or India 19 battle. And this fortnight’s Forbes India cover story is or any other country, it is time to have a strong belief on the fascinating innovations of India’s startups, who are that we can all come together and overcome this.”

Stories to look out for Brian Carvalho Editor, Forbes India

[email protected]

Best,

(From left) Jayakrishnan T of Asimov Robotics has created the ‘Karmi- Bot’, which can provide essential services to patients inside isolation wards; Jerome Chen of Vivo India is bullish about the future despite the pandemic

may 8, 2020 • forbes india may 8, 2020 ☛ Volume 12 O n Issue 10 T h e Contents Cover

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Entrepreneurs vs Covid-19 Seven startups that have stuck their necks out, innovated and made the fight against coronavirus a common goal

4

Several startups have come to the rescue of individuals who have contracted Covid-19 and those who are leading the fight against it

FEATURES Pg. 16 Pandemic Impact 34 • The 3D Enterprise Mobilisation 16 • Veni, Vidi, Vici? The unorganised and sluggish Can Chinese smartphone 3D printing sector could have maker Vivo maintain its a windfall gain as companies winning run once the make PPE and other critical Covid-19 dust settles down? equipment

Corporate 38 • The Social Account Network Several crowdfunded and 22 • Window Of community-based initiatives Opportunity have come forward to combat Yes Bank has managed the social and economic to tide over the moratorium fallouts of the outbreak and CEO Prashant Kumar is confident of sailing through the lockdown 44 • Fate Of Food with a digital focus How agritech ventures are attempting to fix the supply chain that collapsed during the pan-India lockdown Vivo India CEO Jerome Chen says customer satisfaction is priority

forbes india • may 8, 2020 Imaginarium

Pg. 34 Pg. 22

3D printing technology is being used for quick prototyping Yes Bank CEO Prashant Kumar wants to regain the trust of customers

R Ravi 48 • Warriors On The 58 • Crank-Up Time Frontline How to get the manufacturing How doctors and nurses along and MSME sector that has Pg. 68 with assorted health activists ground to a halt during the and workers are taking on the lockdown moving crisis head-on 61 • Students On 52 • In The Line Of Fire Furlough With a broken supply chain As top companies defer and and inadequate stocks, health revoke job offers, IITs and care workers face an acute business schools work hard shortage of protective gear to help find placements and 5 move online 55 • A Testing Race Against Time 64 • Cloud Cover After a slow start, will India’s Technology companies see Meals prepared in Kerala's jails are sold in packets made in-house efforts to ramp up testing for opportunities as more clients Sars Cov2 be quick enough? move towards cloud-based, Vaishali Dinakaran remote-working infrastructure Pg. 72 Pg. 58 68 • Stone Walls Don’t Make A Prison The Kerala police is counting on prisoners to make masks, sanitisers and hospital gowns

life 72 • Lockdown Diaries Glimpses of daily life from cities around the world

78 • Tastes From A Temple Town The love of mutton makes Madurai an exception among South Indian religious centres The Potsdamer Platz railway station in Berlin wears a deserted look

regulars ● 8/Leaderboard ● 82/Nuggets ● 84/ Thoughts

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forbes india • may 8, 2020 Tell us about your membership packages and It was my own quest to find the right partner. the eligibility criteria. I got married late by Indian standards. I was We offer two options – Privilege Suite and looking for an individual - someone who Premium. Our membership base, mainly in the would align with my personality, mindset age bracket of 22 to 65 years, includes a swish and value system. I needed assistance in set of well-read and progressive professionals, this search but didn’t find anyone who could businesspersons, celebrities and industrialists. help. Having lived in different parts of the Our largest set of members resides in the US world, I also realised that the challenges are and India, followed by a small number in the same everywhere. The time involved in Europe and Asia. What connects them is the the search, and the frustrations and way they view marriage – as a sacred bond disappointments along the way, led me to rather than a settlement. We follow stringent embark on this journey. More than eligibility criteria that focuses on quality. anything, I wanted to make a positive Maintaining confidentiality is also integral to difference to a person’s life by connecting our process. them with their special someone. Do you guarantee a match? Is it easy to for individuals to find I would love to find a partner for all our like-minded partners? members but unfortunately, I don’t possess a It’s a challenge at any time but more so magic wand. Having said that, my team and I today, as marriage isn’t the first priority for make a promise to every member that we’ll put most individuals. As we grow older, we in our heart and soul into the search. Nothing expect others to fit into our lives seamlessly, makes us happier than seeing a modern love which can lead to unrealistic expectations. story blossom. While the world is shrinking, we’re also getting busier with our lives. Today, it’s tougher to engage in social conversations and sow a meaningful relationship. In such scenarios, one is more likely to find the right partner through arranged introductions rather than depending on one’s limited social circle. LeaderBoard

Top-up for Covid-19 Using the Gender Lens Private sector vs Pandemic Most insurance policies that cover Experts say India needs to Companies and private individuals Covid-19 are useful only if people do adopt a gendered approach to are stepping up to slow the virus’s not have their own health policy P/10 tackle the coronavirus P/12 spread and help find a cure P/14

ECONOMY equally bleak for 2020 as the nationwide lockdown has been extended to May 3. “We believe the existing restrictions on movement are Fut u re Tense causing much more economic damage Growth for 2020 has been virtually written off. For India, the hope than anticipated,” says Rahul Bajoria, is for an additional economic stimulus, and for demand chief India economist at Barclays. in manufacturing and services to pick up Barclays has revised India’s GDP to 0 percent for calendar year 2020 Manufacturing activity has Depression” of the 1930s, with output (from an earlier projected 2.5 percent) come to a halt as the biggest set to shrink by 3 percent in 2020. and a marginal rise of 0.8 percent for factories in the US, Europe There are 20,69,819 coronavirus cases the fiscal ending March 2021. Fitch and China are shut down since and 137,193 deaths because of Covid-19 Ratings in April slashed India’s growth February following the coronavirus as of April 16, according to data from forecast for FY21 to a 30-year-low outbreak. In the services space, the Johns Hopkins University. of 2 percent from 5.1 percent earlier. hundreds of thousands of workers Even as parts of China have The lockdown in March saw India’s across the globe have been furloughed returned to work, a large section of unemployment rate surge three-fold to 8 or have lost their jobs as malls, hotels, the globe continues to face disruptions 23 percent, as of April 5. restaurants and airlines remain closed. in manufacturing supply chains. The government is set to reopen In the US, non-farm payrolls fell by The World Trade Organization has activity in some sectors such as 701,000—its worst in ten years—and estimated that global trade will fall MNREGA works, MSMEs, logistics unemployment rose to 4.4 percent. by 13-32 percent in 2020, worse and ecommerce firms, agriculture This indicates that most economies than what was seen during the 2008 and food procession factories (located are likely to see de-growth possibly financial crisis. China is expected to outside municipal corporations), till the first half of FY21 (April- see a modest low single-digit economic and all central ministries and their September). The International growth in 2020, but the IMF expects departments. However, the lockdown Monetary Fund (IMF) in April growth there to bounce back to 9.2 notifications will continue for forecast that the world will see its percent in 2021. containment zones. With no sales “worst downturn since the Great India’s growth forecasts look and payment from clients delayed, SMEs are struggling to retain staff and

tock labour apart from not having access to affordable finance. The RBI has announced fresh s hutter measures to boost liquidity for small businesses and microfinance firms. But specific economic relief is yet to be announced by the government for sectors hardest hit such as export- oriented firms, hospitality, tourism and airlines. In view of the rising fiscal deficit, the government may not be in a position to come up with an aggressive stimulus. Mid-and-small companies in these sectors will hope that any relief is not too late. ● Salil Panchal

forbes india • may 8, 2020 luxury auto Expect the Unexpected Reverse Gear At Lightning Speed India’s auto sector, already in Experts say coronavirus will damage the modern luxury industry the doldrums, is unlikely to see more than the 2008 recession recovery and demand this year Getty Images The next six India’s automobile sector months are has been pushed to the brink crucial for the and recovery is unlikely this luxury goods industry and year. The Covid-19 crisis has may cause far more pain exacerbated the problems caused by than the Great Recession of the economic slowdown and a push 2008 did. McKinsey toward cleaner engines. “With all the estimates that the global uncertainty now, July could be the industry for personal luxury month when sales begin,” says Puneet goods will shrink by as Gupta, associate director for much as 35 to 39 percent in automotive forecasting and advisory 2020, compared to the at research firm IHS Markit. “For previous year. calendar year 2020, we expect sales ‘It’s true that the House to fall by over 28 percent.” of Chanel survived World According to the Society of Wars, the stock market crash of 1988 on spending sprees to make up for the Automobile Manufacturers (SIAM), and many other world-changing pent-up time. “We could definitely sales of passenger vehicles in India events. So did Gucci, Louis Vuitton see initial splurge post the lockdown fell by 51 percent in March while for 9 and Prada. But the modern luxury in India,” says Abhay Gupta, founder the fiscal between April and March industry as we know it—where brands and CEO, Luxury Connect and 2020, the number was down by 17.82 are multi-billion dollar powerhouses, Luxury Connect Business School. percent. “A lot will depend on the employing hundreds of thousands “Beauty and wellness will witness government stimulus to the industry, of people across the globe—has only raised demand immediately, and and ensuring really existed for the past 30 years,” salons will see a rush. Postponed employment writes journalist Lauren Sherman in wedding orders will be fulfilled. The and jobs,” says a report by The Business of Fashion feel-good factor of retail therapy will Gupta. (BoF) and McKinsey, titled ‘The kick in.” SIAM State of Fashion 2020: Coronavirus For some luxury players, it could reckons the Update’. be a unique opportunity to heighten lockdown “In many ways, the coronavirus customer relationships and leverage is causing a pandemic is the first global crisis that digital channels. In the post-pandemic loss of `2,300 shutterstock will deeply impact the sector since era, the McKinsey-BoF report says crore a day in production turnover. the industry morphed into a virtual consolidation will intensify and we “There would be challenges on the oligopoly,” she adds. “How will it could see a ‘Darwinian shakeout’ that supply and demand side. The issue fare? The short answer: Expect the will eliminate the weak and embolden of availability of finance would expected, and at lightning speed.” strong players. also need to be addressed to bring After the 2008 recession, the “Conspicuous consumption back growth,” says Rajan Wadhera, luxury industry bounced back; this may be replaced with demand for president of SIAM. time, however, consumer spending conscious, responsible luxury,” adds Even when recovery happens, the behaviour was already becoming Gupta. “However, for the hedonist industry could see serious challenges more conscious in the past three or consumer, luxury is a way of life, and in customer preferences. “Consumers four years, and the pandemic will only the benchmarks of sophistication are that buy passenger vehicles or two accelerate that shift. unlikely to change. Public memory wheelers may go one segment or one Another school of thought says that is short, and luxury will return to its variant lower,” consultancy firm PwC in certain markets, consumers in the true levels in due course.” said in a report on April 8. uber-wealthy demographic could go ● Pankti Mehta Kadakia ● manu balachandran

may 8, 2020 • forbes india k c `10 lakh

Proposed coverage for Covid-19 shuttersto LeaderBoard specific insurance policies

sanitisers insurance Hands-on Covid-19 Coverage Dettol and Lifebuoy find new rivals as Emami and Marico Health insurance companies are providing policies to cover coronavirus launch hand sanitisers infections, but most coverage amounts are very low shutterstock FMCG giants Emami and The spread of the Marico are taking on the coronavirus pandemic likes of Dettol and Lifebuoy has led to a range of with BoroPlus and Mediker, their insurance products being respective hand sanitiser brands. The introduced in the market, to coronavirus outbreak has prompted offer a cover that would take several companies to enter the care of hospitalisation and booming hand treatment. Companies such as sanitiser Star Health, ICICI Lombard, market. Future Generali, Digit and “BoroPlus Paytm have introduced Covid- and Mediker 19-specific policies for those have a strong who contract the disease. antiseptic Forbes India's assessment history, one shows that most of these shutterstock in the cream policies—usually for a one-year care of issues such as loss of income segment [Boroplus] and the other term—do not provide adequate during the illness. Most existing in the hair care segment,” says N cover, with the sum insured being health issues and claims would 10 Chandramouli, chief executive officer too small. For example, Star Health get covered by standard existing of Mumbai-based marketing and & Allied Insurance’s Star Novel health insurance plans, as mandated branding agency TRA Research. Coronavirus policy covers for an by the Insurance Regulatory and Sanitisers might open the amount of `21,000 and `42,000 while Development Authority. However floodgates for new entrants to make a ICICI Lombard’s Covid-19 Protection some health policies do not cover for deeper dent in the business of market Insurance Cover provides for a cover epidemics. For buying a policy that leaders. Chandramouli says if the of `25,000. covers Covid-19, a person will have to brands manage to create a mark in For those who do not have any undergo the PCR (polymerise chain the sanitiser segment, they can be health insurance policy, these might reaction) test, but will be covered followed by extensions into soaps, be a good starting point. For others, regardless of the test result. liquid handwash and the likes. a specific Covid-19 policy might “It is important to have a Abraham Koshy, marketing be considered as a top-up to their comprehensive health insurance professor at IIM-Ahmedabad, says existing policy, so that it can take cover with an adequate sum insured,” consumers would be favourably says Amit Chhabra, business head predisposed towards new brands Policies For Covid-19 (health) at PolicyBazaar. The as fatigue with older ones would “adequate” sum insured should at Star Health (Star Novel Coronavirus): have set in due to predictability of Provides lumpsum benefit of `21,000 and least be `10 lakh per person for people marketing and positioning. Also, `42,000 to an infected person requiring living in larger metros. BoroPlus and Mediker enjoy startup hospitalisation Sanjay Datta, chief of underwriting equity, recall and a strong reputation. ICICI Lombard: Insurer will pay entire sum and claims, ICICI Lombard, says, Entering the hand sanitiser market insured (`25,000) to insured person on “We are seeking to help those who first diagnosis of Covid-19, irrespective of also provides these new brands with hospitalisation have mild Covid-19 symptoms. If they strategic opportunities to broaden are quarantined at home or are being Future Generali: Lump sum payment the their appeal. “With the arrival (`50,000) through reimbursement in case treated in hospital, this policy would of two new players, the anitiseptic the person is diagnosed with Covid-19 help mitigate some expenses.” Their market, which was otherwise staid Paytm/Reliance General Insurance: policy claims to pay 100 percent of the and boring, has become more active,” Policy provides 100 percent sum-insured sum insured in a lumpsum, regardless says Koshy. (between `25,000 and `2 lakh) to insured of the hospitalisation expenses. person on testing positive for the virus. ● Rajiv Singh ● Salil Panchal

forbes india • may 8, 2020

mages 65% I etty G What women earn for the same work when compared LeaderBoard to men in India, according to Catalyst.org

Gender jobs, livelihoods, etc,” she says. Experts suggest that applying a gender lens while designing stimulus The Harder-Hit Half packages or schemes will help achieve While governments tackle the health crisis, experts say taking a greater socioeconomic equality and gender-based approach will achieve larger socioeconomic goals opportunity. According to Nikore, the government’s immediate focus must k c be to provide higher wage subsidies for women across formal and informal

shuttersto sectors. “Even the government’s announcement of paying 24 percent EPF support is applicable only for people earning below `15,000 per month. This proportion can be increased by 10 to 15 percent, while replicating the same in the unorganised sector,” she says. Right now, the government provides income support to women whose bank accounts are linked to Jan Dhan accounts. “Income support can be given to women across self- help groups, even if they do not have a Jan Dhan account. Second, women who have lost jobs should be provided 12 unemployment benefits and access to Earlier in April, UN Women or live more close to poverty when reskilling programmes,” says Nikore. published a report titled compared to men. Chakraborty admits that it might ‘Emerging gender data and Another factor impacting women, be difficult to collect and process why it matters’ in which the US- she explains, is the increasing gender- gender disaggregated data related headquartered organisation stated based violence due to extended to the coronavirus because of the that since the coronavirus does not lockdowns and social isolation, and heterogeneity of India’s population, discriminate, governments need to the lopsided burden of unpaid care and because India has not undertaken adopt a “whole-society approach” to and domestic labour that threatens aggressive testing yet. However, understand its differential impact on to revive traditional gender roles. to design comprehensive, gender women and men. “Supporting gender “Having a gendered sensitive public health analysis and sex-disaggregated data is approach will actually metrics, she says one an integral part of a strong Covid-19 help the government "a gendered can take cues from response,” the report said. target beneficiaries approach the International Covid-19 will affect men and more efficiently will help the Classification of women differently in more ways than and design holistic government Diseases codes of one, and the latter are bound to be at a schemes,” she says. target the World Health disadvantage. According to economist According to Lekha beneficiaries Organization. The Mitali Nikore, the government is Chakraborty, an efficiently economist also points primarily focusing on collecting economist and professor and design to the need to ensure health data at the moment, but even at the National Institute holistic women have an equal understanding pre-existing patterns of Public Finance and schemes." representation in of economic data provided by the Policy, India’s approach the decision-making Periodic Labour Force Survey or the to public policy while related to coronavirus. National Sample Survey Office would framing a Covid-19 response is taking “Diversity in perspectives is crucial to indicate that women are likely to feel a sequential, and not a simultaneous, stem the pandemic. Giving priority to a compounded economic impact, path. “But while you are attending women’s perspective will strengthen given that they usually earn less, save to public health, you also need to policy outcomes,” she says. less, hold insecure or informal jobs parallelly look into, say, migration, ● Divya J Shekhar

forbes india • may 8, 2020

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COVID-19 Response ABBVIE North Chicago–based publicly traded pharma firm is collaborating with authorities in the EU, US and China on experimental use of its HIV The Private Sector vs drug Lopinavir/Ritonavir to treat Covid-19.

BIOMÉRIEUX The Pandemic French biotech company, founded by billionaire Alain Mérieux, received emergency Companies and wealthy individuals of all kinds are FDA approval for its subsidiary’s new testing stepping up to slow the virus’s spread and help find a cure kit, which cuts testing times for the virus down to 45 minutes. s e

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14 DIASORIN This Italian biotech company, owned by billionaire Gustavo Denegri, obtained emergency authorisation from the FDA for its new 60-minute testing kit for Covid-19.

EMERGENT BIOSOLUTIONS Maryland pharmaceutical firm is developing treatments derived from antibodies found in the blood of people who have tested positive for the disease. Just as automakers dozen Covid-19 vaccines under famously shifted to make development—smart considering that GILEAD tanks and planes during two of every three vaccines for The California biotech giant initiated clinical trials in March for its antiviral drug Remdesivir World War II, today’s corporations infectious diseases fail, according to a on patients in the US. are retooling their Massachusetts Institute of production lines to make Technology study. MAMMOTH BIOSCIENCES everything from hand T wo out But you don’t need South San Francisco–based biotech startup, sanitisers (LVMH) to to be a multinational or founded by three Forbes 30 Under 30 alums, of three prototyped a rapid test by using the gene- respirators (Ford, GE). In vaccines have billionaire owners editing tool CRISPR to detect the disease. the UK, billionaire inventor made for to pitch in: Italian startup James Dyson announced infectious Takis Biotech, with 25 MODERNA his vacuum cleaner firm diseases employees, is racing to Massachusetts biotech company was the first to begin human trials of its vaccine, on March would start manufacturing fail, says make a vaccine, while 16, in Seattle. ventilators. German MIT study Carbon, a 3D-printing drugmaker BioNTech— outfit in California, will REGENERON PHARMACEUTICALS backed by twins Thomas soon be distributing testing Tarrytown, New York, biotech outfit run by and Andreas Struengmann, swabs. On the right are billionaires Leonard Schleifer and George Yancopoulos is conducting trials of its both billionaires—is working with 11 companies on the coronavirus rheumatoid arthritis drug Sarilumab, Pfizer and Fosun Pharma to develop a frontlines. co-developed with French firm Sanofi, on patients in New York. vaccine. It is one of more than a ● GIACOMO TOGNINI

forbes india • MAY 8, 2020 k

$2.1 bln stoc er tt

The net worth valuation of US President hu LeaderBoard Donald Trump after the pandemic broke out s s Billionaires 6 East 57th Street, New York e imag y tt e Trump’s $1 Billion g Coronavirus Hit

As of March 1, Forbes valued Donald Trump’s net worth at $3.1 billion, following COMMERCIAL REAL ESTATE months of reviewing documents and speaking with more than 50 sources. Then Retail and office space in New York the markets fell apart, and we went back to work. and San Francisco To approximate how much the coronavirus affected the president’s fortune, we looked at Before coronavirus: $1.9 billion the change in price of stocks similar to each segment of his business. Commercial real estate After infection: $1.2 billion Trump’s portfolio includes 125,000 was clearly down, with shares of several companies plunging an average of 37 percent square feet of retail real estate from March 1 to March 18, the date we used to calculate fortunes for the Billionaires list. near Fifth Avenue in Manhattan. With stores shut, retail values have Similar decreases dragged down the value of hospitality companies, apartment owners plunged. and golf businesses. Using those declines as a guide, we applied discounts to Trump’s pre- coronavirus numbers, then reviewed the changes with industry experts. k The bottom line: A net worth valuation of $2.1 billion—a drop of $1 billion in less than a Mar-a-Lago, Palm Beach, Florida stoc month. That will surely change again, as every index performs like an electrocardiogram. er tt hu

But, says New York City real estate broker Eric Anton, “The analysis, it’s as good as any s other way I can think of.” ● DAN ALEXANDER

shutterstock shutterstock shutterstock Trump International Hotel Trump International Hotel Washington, DC Waikiki, Hawaii TROPHIES AND OTHER 15 PROPERTIES Mar-a-Lago, Trump Tower penthouse, Trump Winery and other assets

Before coronavirus: $348 million After infection: $295 million Trump’s shiniest trophy is Mar-a- Lago, the Palm Beach club. It’s still valued more as a billionaire’s toy than an operating business, seemingly leaving it less affected by the sudden downturn.

Trump National Golf Club Trump Parc East, New York HOSPITALITY HOLDINGS Hudson Valley, New York Hotel in Washington, DC, RESIDENTIAL REAL ESTATE and resort in Miami More than 500 units in five states Before coronavirus: $107 million Before coronavirus: $235 million After infection: $38 million After infection: $148 million During a White House press More lockdowns, travel bans and conference in March, President self-quarantines mean fewer buyers. Trump fielded a question about “Purchasers are unlikely to make the effect of the coronavirus on his their largest financial investment business: “I’m very underlevered GOLF COURSES of their life through a virtual tour,” and everything, so that’s good.” Not HOTEL LICENsiNG AND Ten US golf clubs, three European says Jonathan Miller, a New York necessarily at Trump International MANAGEMENT properties residential real estate expert. Hotel in Washington, DC, and Trump Branding and management National Doral in Miami, however. deals in Hawaii, Uruguay, Before coronavirus: $271 million Deutsche Bank handed Trump $170 India and elsewhere After infection: $217 million CASH million to remodel the DC hotel, and The good news: It’s easy to social Before coronavirus: $160 million another $125 million for the Miami Before coronavirus: $80 million distance on a golf course. The bad After infection: $160 million golf resort, which produced $9.7 After infection: $42 million news: Pricey clubs don’t do well Trump got rid of his stock holdings million of 2018 profit (measured Shares of Hilton, Hyatt and Marriott in recessions. “The first thing that long ago and now keeps an as earnings before interest, taxes, all dropped more than 50 percent in gets cut out of the diet is the golf estimated $160 million safely in depreciation and amortisation). recent weeks. It’s hard to imagine budget,” says Jeff Davis, managing cash accounts—currently the best- “Sounds pretty highly levered,” says the president’s hotel brand is faring director of golf brokerage firm performing part of his portfolio. hospitality analyst Dan Wasiolek. much better. Fairway Advisors.

may 8, 2020 • forbes india Enterprise

16

“Vivo India is the second biggest after China. Over the next five years, our plan is to shift gears from a follower to a leader.”

JEROME CHEN, CEO, VIVO INDIA th a

r Veni, Vidi, Vici? ock appa Vivo capped a splendid performance in 2019 by toppling Samsung to become rst e hu K No 2 in the October to December quarter. Can the Chinese smartphone Mad hutt : S e g & maker maintain its winning run once the Covid-19 dust settles down? a t ivo on m s: V o o

t t By Rajiv Singh o o Ph Ph

forbes india • may 8, 2020 OFFLINE WORKS vivo Brick and mortar retail volume market share

2016 imple things, reckons recovery. In the last quarter of 2019 Q1 3.1% Jerome Chen, are easy (Jan-March) (October-December), Vivo pipped to understand, but quite South Korean rival Samsung to become Q4 8.1% difficult to do. It’s early (Oct-Dec) the second biggest smartphone maker March, Holi is just a few after Xiaomi. For a smartphone maker Sdays away, and the only colour that’s From 7th biggest offline player, Vivo that shunned the online route taken by ended the year by becoming visible across the satellite city of 3rd its rivals such as Xiaomi and opted for biggest Gurugram is blue hoardings of Vivo the traditional brick-and-mortar model smartphones on huge metro pillars. to carve a place for itself, the success Sitting in a café on the ground floor 2017 Q1 13.1% was even more satisfying. The second of the Palms Spring Plaza building, biggest player in India, which occupies just 100 metres from Vivo Sector 53-54 Q4 14.7% the same ranking in its motherland metro station in Gurugram, Chen looks behind Huawei, gets over 90 percent Becomes 2nd biggest offline player bemused. Every day scores of bikers of revenues from offline sales. by the end of 2017 and speeding cars miss the U-turn on Cut to mid-April. India is in the the main road that goes towards Delhi. second spell of lockdown, Vivo Sector A huge signboard reading ‘Slow down 2018 Q1 11.7% 53-54 Metro Station is shuttered for a U-turn’ falls on their blind spot. and, although the roads are deserted, Q4 16.8% “They just need to see the sign and a few swanky cars and bikes can follow it. It’s that simple,” says Chen, Slips to No. 3 in 2018 still be seen speeding on the empty irritation in his voice quite palpable. stretches. “People just need to follow “Simple things,” reinforces the chief the simple rule of staying at home,” executive officer of Vivo India who 2019 Q1 17.5% says Chen, who declined to step out came to the country in August 2014 to for a photo shoot or meet for a follow- Q4 24% set up operations, “are difficult to do.” up interview. “Isn’t it simple? We Three years back, towards the Becomes biggest offline player in just need to stay put wherever we are 17 end of 2017, Chen too was guilty of last quarter unless something urgent pops up,” he oversight, and failing to do simple says. “Well, we can always talk over the things. The writing was on the wall, phone, can’t we?” he says with a laugh. Feb 2020 26.8% but he couldn’t see it. For a company that swears by the philosophy of slow Maintains its top position in offline SLOW IS FAST is fast, over-speeding was turning For Vivo, the beginning was muted. out to be dangerous. In just a year, Source GfK data shared by industry officials For Chen, though, “slow was fast”. For market share had zoomed from 3.6 any Chinese brand, entering India in percent in the second quarter of THE JOURNEY TO No 2 2014 was not difficult. The country 2016 to 12.6 percent a year later. had seen a bevy of brands from Dragon Then, for the next three quarters, Land such as Gionee, and the Indian the inevitable happened. Vivo dipped 2016 or desi clones such as Micromax to a low of 5.8 percent in the first Q1 (Jan-March) 1.3% and Lava who were assembling quarter (January-March) of 2018, its the handsets imported from China. Q4 (Oct-Dec) 9.7% lowest ever. “We grew a bit too fast. Though entry was easy and simple, But we wanted to go at a faster clip,” winning trust was difficult. “People,” recalls Chen. “Kyon hua pata hai (I 2017 Q1 12.1% recalls Chen, “perceived Chinese know why it happened),” he mutters. brands to be of low quality and cheap. He’s picked up a few Hindi words Q4 5.8% Another damning perception was during his five-year stint in India. that the brands from China were in During good times, he underlines, 2018 Q1 5.8% India to make money and run away.”

— r

it’s all the more easy to forget simple JC that’s how Chen is addressed a

Q4 9.6% w things. The company, though, took by his colleagues—decided to tackle pa r a quick U-turn, and started doing the bigger challenge first: Battling ee m simple things by sharply focusing on perception and changing it. He, along a 2019 Q1 12.2% s: s ic four key stakeholders: Customers, with his team of loyal distributors h ap

retailers, shareholders and employees. Q4 20.7% who had come from China, fanned out gr o f n The U-turn led to a V-shaped across India to understand the need I

may 8, 2020 • forbes india Enterprise

of the market. Along with making company of Vivo, Oppo, OnePlus and progress on the retail front, what Realme, way back in 2012 in China. helped Chen was a concurrent slide BBK, then into the business of feature in market share of HTC, Sony and phones, stared at a bleak future when other Chinese brands. The offline the entire Chinese market overnight retailers, consequently, had to try got hooked to smartphones as the new kid on the block. The brand operators distributed handsets for free. spent the first month in India selling Consumers were only asked to pay for around 100 handsets every day. data. “The change happened much What also helped in beefing up faster than anybody’s expectation,” the credibility of the brand was nil recalls Chen, who joined BBK in 2002. consumer complaints. In the third Sitting on a huge stockpile of month, the offtake increased to 1,000 feature phones, which were twice handsets every day, and then there “We believe in as expensive as the newly-arrived was no looking back. The company, doing the right smartphones, BBK was left with only till February this year, was selling one option: Liquidate the stock at a an estimated 71,000 units per day. things, and then heavy discount. Retailers, along with Back in 2014, retailers lapped up doing the things the company, took a massive hit. But the generous margin offered by Vivo— right. It’s simple.” all stayed together. And when BBK an estimated 13-15 percent, much entered into smartphones later on, all more than the 7-8 percent offered by Nuip n Marya these retailers became an integral part most other brands. The third factor dic re tor, brand strategy, of the company. “This is the culture that helped cement a strong retail Vodiaiv In of the organisation that helped it to footprint was a dedicated team to look survive the crisis,” contends Chen. into distribution. One person was put Vivo’s offline bet, reckon industry 18 in charge of up to 20 shops as against experts, was timely. In 2014, the industry norm of 1:50 or 1:100. THE TOP FIVE IN INDIA IN offline made up over 85 percent Adding more heft to the offline 2019… of the smartphone market. With a strategy was appointing Vivo rapid decline in the fortunes of the 30 29 28 Brand Ambassadors (VBAs): Young Xiaomi 27 Indian players, and a concurrent 26 25 marketing executives, sporting 25 24 preference of all new players from Vivo-branded tees, and placed inside Samsung China opting for online over offline, 20 21 the shops. They soon became the 20 the brick-and-mortar distributors 19 face of the brand, and the first point 17 were left with only Samsung. 16 of interaction with the consumers. 15 “The timing was right, and the 12 12 12 Trust was slowly built, and the retail Vivo market was ripe for Vivo,” says 10 9 footprint was painstakingly expanded. 7 Tarun Pathak, associate director Oppo 8 8 8 But something else also happened, Realme 7 at Counterpoint Research. What 5 which made the other brands sit up Q1 Q2 Q3 Q4 also helped in standing out in a and take notice. Vivo institutionalised Market share figures in percentage cluttered market was Vivo’s focus a decentralised form of structure. on music, even as everybody else Every state in India was headed by …AND THE TOP FIVE IN was flaunting camera. “The gambit a Chinese distributor who had come CHINA worked,” adds Pathak, adding that to India when Vivo entered in 2014. 40 betting on offline distribution won 40 Every state ‘company’—as Chen Huawei the loyalty of the retailers who felt 35 35 35 describes it—was allowed to frame its 34 threatened by the online juggernaut. respective distribution and marketing 30 The icing on the cake, points out strategy, suited to that particular 25 Pathak, was a lucrative retail margin

region. A sense of ownership in 20 19 19 19 offered by Vivo. Being ready with Vivo the company and skin in the game 17 4G handsets also proved to be a big Oppo 18 18 18 15 16 helped fuel the retail machine. Xiaomi 11 14 blessing as the Indian ecosystem 12 The army of retail distributors 10 9 8 was fast moving away from 3G. 9 Apple 6 traces its origin to an existential crisis 5 8 The brand, Pathak, underlines, faced by BBK Electronics, the parent Q1 Q2 Q3 Q4 also took a U-turn last year, in terms

forbes india • may 8, 2020 REVENUES HAVE SOARED…. vivo March March March March 2016 2017 2018 2019 of coming up with a special series 70,000. The excessive VBA flab for online only: U series. Though ` ` was shed—it now stands at 30,000, 11,154 17,201 the company decided to do away crore crore half of what it was during 2018. A `936 `6,030 with the online-only product, the crore crore renewed focus on the Y Series of success of the U series made it realise handsets (those priced between the importance of having a hybrid `8,000 and `12,000) paid dividends. approach in gaining market share. …LOSSES HAVE DIPPED… A sustained omni-channel play Nipun Marya, director of brand March 2016 `158 crore with a presence across all mass strategy of Vivo India, reckons that March 2017 `111 crore price segments also aided in coming following the basics and slogging March 2018 `125 crore back into the game. Being an offline always helps. For any brand coming heavy brand, contends Navkendar March 2019 `20 crore to India, online offers multiple 0 50 100 150 200 Singh, research director at IDC advantages: No need for large India, it continued investments in infrastructure, one can bypass WHAT WENT WRONG IN 2017 the offline channel in the form of distributors, and a lean team will incentives, attractive margins and  Lean portfolio in all price points suffice. “You can just make a product timely settlements of schemes, which and sell it online,” says Marya,  Alarming pace of retail expansion hit the helped maintain positive sentiment quality of offline control who has had stints with Samsung across the channel’s width and depth. and Lava before Vivo. In offline,  Aggressive push by Xiaomi Additionally, it also made a foray into he reckons, hard work is required. the online channel, with the Z and  Vivo was hurt by almost negligible online “That’s why Vivo is a labour of love presence U series. “These were aggressively for all of us,” he says, adding that the priced with high-end specifications brand has a spread across 70,000 and found encouraging response retailers and boasts of 30,000 VBAs. not the right thing to do,” he admits. from online buyers,” says Singh, Marketing experts reckon there is In the rural markets of Uttar Pradesh who quickly adds a word of caution. enough juice left in the offline model. and Odisha, there were retailers Though Covid-19 is going to impact 19 When significant brands such as selling only 30 units per month. “In all brands, what might become more Xiaomi have reached pole position some places even vegetable and shoe challenging for Vivo is an equally largely on the back of online, it takes shops had Vivo branding,” recalls aggressive play by online-heavy brands some boldness to charter an offline JC. All these hit the perception and such as Xiaomi and Realme in their path. “Vivo’s success, therefore, has value of the brand. “We realised we offline push. “The competition in brick a sweetness to it,” says Abraham were doing it wrong. We were too and mortar will intensify,” he warns. Koshy, professor of marketing at IIM eager to gain market share,” he rues. JC, on his part, believes in keeping Ahmedabad. While consumers got There was another chink: A skewed things simple. “We will keep doing the a good “look and feel” of the brand, product portfolio. Vivo focused right things, and in the right way,” he salesmanship of the retailers and VBAs more on higher priced products— says, explaining his approach. Since worked in tandem to convert the sale, over `20,000. The reason was wide the lockdown the company has been and add to consumer stickiness. consumer acceptance. When you conducting extensive online training Aggressive marketing was capped launch a product, explains Marya, of its VBAs. “I don’t care about being by bagging the title sponsorship of which is double the average selling number 1, 2 or 3,” he adds. What the Indian Premier League, rooting price in the industry, and also gets matters most now, he underscores, for kabaddi—the second biggest a terrific response, it means more is satisfaction of four stakeholders: sport in India after cricket—and revenue. What the company failed Consumers, retailers, shareholders roping in Aamir Khan as brand to realise is that 80 percent of the and employees. “It can’t be one ambassador. “Speed or over-speed smartphone market was below at the cost of another,” he says. was the only thing that could have `15,000. “At that time, our low-end When asked if the company has undone all the excellent work,” says products were not as good as the top- enough ammunition to survive the Koshy, hinting at how the company end ones,” confesses Marya. The result Covid-19 crisis, JC keeps his response slipped towards the end of 2017. was a steady slide in market share simple. He smiles ear to ear, in the Back in Gurugram, JC points for over three consecutive quarters. shape of a U, and flashes a V sign out what went wrong. The focus on If the setback was striking, on a Zoom call. Whether we are in market share meant that the retail the comeback last year was China or India, he asserts, it’s time footprint zoomed to over 1 lakh astonishing. The retailer footprint to have a strong belief that we can retailers and 60,000 VBAs. “This was was rationalised—it’s now at overcome this crisis together.

may 8, 2020 • forbes india Enterprise ‘We Want to Change How Consumers View Chinese Brands’

hen you work for ‘Godfather,’ you know how to survive. In fact, survival Wbecomes a part of your DNA. In 2002, when Jerome Chen joined the army of Duan Yongping, the reclusive entrepreneur billed as Godfather of the Chinese smartphone industry, BBK Electronics was into the education electronics and audio-visual segment making VCD and DVD players. Chen was, early on, introduced to the heroic tale of survival of BBK Electronics, when it faced its first major financial crisis in 1997, just two years after the 20 foundation of the fledgling venture. The company somehow survived. Then, in 2012, BBK, now a feature phone maker, was staring at an existential crisis. The Chinese market had overnight shifted to smartphones, and the handsets made by BBK were not only redundant but twice as costly as their smart counterparts. The company again survived. “The crisis made the company stronger and much more mature,” contends Chen, who came to India in August 2014 to launch Vivo, the smartphone brand which, along with Oppo, OnePlus and Realme, traces its “We want to change the perception the consumer is a pre-condition. parentage to BBK. The gritty warrior of us being a Chinese company The profit or the market share is is now confident of fighting the to becoming a global company,” a result of doing the right things Covid-19 setback as well. “We will he says in an exclusive interview for these four stakeholders. Even survive because of the culture of the with Forbes India. Excerpts: when we became No. 1 in the offline company to overcome a crisis.” market, and were overall second in The CEO of the five-year-old On becoming the biggest in India the pecking order last November, smartphone company marshalled his Whether we are No. 2, 3 or 1, we do we didn’t communicate it to the resources to topple South Korean not care about that too much. What media. The news got out from the giant Samsung during the last quarter I only care about is satisfaction for marketing research agencies. of 2019 (October-December) to the four stakeholders: Customers, become second biggest in India. The retailers, shareholders and On the leader versus bigger challenge, though, is neither employees. It starts with satisfaction follower narrative survival nor becoming the biggest. of the consumers. Happiness of It’s very different to be a follower and

forbes india • may 8, 2020 vivo

a leader. When you become number more, it became difficult to cut cakes a manager, the junior most person 1, nobody will teach you. No one is for milestones (laughs). Actually, would meet us. And they would make your competitor anymore. Only you we have never looked at any of our us wait for hours before meeting are your own competitor and only competitors including Samsung. We us. And then these meetings would one thing—how you understand were just doing our basic job: Training finish in five minutes (laughs). the consumer better than anybody the sales team, the promoter’s team, It was also very difficult to find and innovate products to meet their expanding our channel network distributors. Finally, in 2014 some needs—is what would matter. For and ensuring our sales team is distributors agreed to do business us it is more responsibility to be very supportive to the retailers. with us as their business with Sony, number 1 or 2. This means we need HTC and some other Chinese brands to do more innovative things. On meeting two early targets was shrinking. They agreed to try We care more about how we We planned two things. First was to Vivo. Many Indian distributors can improve the brand perception survive for five years. Fortunately, had worked with other Chinese and improve our customers’ we did. We also planned for India to distributors and had heard a little understanding. We are not following become a talent output centre for Vivo bit about this organisation. So they the competitor. We are following agreed to try Vivo. The self-belief the consumer. We are following to succeed was always there. In the culture. We are following our “Whether we are in fact, we even told many retailers business philosophy. We are following China or India or that one day we will be the leader our company’s core values. any other country, here. Nobody believed us then. On the perception of it is time to check On the allegation of Chinese Chinese brands in 2014 our culture and companies burning cash We didn’t have a vision, but had a Frankly, no one can say that we are strong belief that we can change how strong belief that burning money. No brands can be consumers view Chinese brands. we can all come built without investing. And we don’t 21 People at that time had a perception together and think it is burning money. Investment that Chinese products were of bad doesn’t come only from the finance quality, were cheap and that most of overcome this people. Whatever money you spend them came to India to make money. difficult situation.” for building the brand, all this is And once they would make money, investment. I believe this has also they would run away. We wanted been a reason for Chinese companies to change this perception. We also not being successful earlier. They wanted to change the mobile phone global. And this too has happened. The did not take the money they spent industry in India and change opinions Vivo Italy team comes from Andhra here as investment and they always of the retailers who had already Pradesh; the Spain team is from considered it as a spending only. And worked with some of the Chinese Gujarat. We also have a few people on spending you cannot get a return. brands in the past. Most of the Chinese from India at the headquarters in You only get returns on investments. companies in India were doing China. The CMOs for Thailand and short-term business. They just earned Philippines are from India. In fact, the On surviving Covid-19 some profit and ran away. Nobody team in Nigeria is from North East. We can. Our culture as a company wanted to do long-term business has been to overcome difficult times. here. We wanted to change this. On initial challenges Sometimes we do make mistakes. When we came to India, we were But it depends on how you overcome On early aspirations not taken seriously. Many were them and how fast you correct them. We didn’t really target market not ready to attend our events or We never make deadly mistakes. share at that time. We just planned launch primarily because we were No matter good times or crisis, to survive in the Indian market. In a Chinese company. When we gave this company will be stronger and the first month, we used to sell 100 our business cards, many retailers stronger. Now we face a big challenge handsets daily. By the third month, threw them in the bin. In fact, when of finding a cure for the coronavirus. it jumped to 1,000 daily. At that we wanted to have a meeting with No matter whether we are in China or time, we celebrated the milestone companies, we couldn’t meet the India or any other country, it is time by cutting a cake. Over the next few CEO directly. We only got to meet to have a strong belief that we can all months, when the sales became much people from purchasing. Not even come together and overcome this.

may 8, 2020 • forbes india Corporate Account

deposits,” he tells Forbes India. The interaction is hardly a metric to assess the bank’s health, but its Window of newly structured board and Kumar will be breathing easy. After all, the moratorium was lifted two weeks ahead of its scheduled date of April Opportunity 3 once a restructuring plan was approved. Banking operations have Yes Bank has managed to tide over the moratorium resumed as usual for its corporate to find credible investors. The lockdown is the latest and retail customers, and across challenge for the troubled lender, but new CEO Prashant its digital channels. Investor and Kumar is confident of sailing through with a digital focus depositor fears have been assuaged with the infusion of `10,000 crore additional capital into the bank, after By Salil Panchal a reconstruction plan was devised by the RBI and the government. ours after the branches. What he saw at the Marine Yes Bank’s common equity Tier1 Reserve Bank of Drive branch in South Mumbai pleased (CET1), a key matrix, stands at India (RBI) lifted the him. “I was anxious that there would 7.6 percent, against a worrisome moratorium on Yes be a lot of customers. But there was 0.6 percent in December 2019. Bank on March 19, no rush… I saw normal business and Its newest investors are the Hthe troubled lender’s newly appointed a few customers. It was comforting State Bank of India—the largest managing director and CEO Prashant to learn that they were comfortable public lender—housing finance Kumar decided to personally address in dealing with the bank; there were firm HDFC and six private banks: 22 customer concerns at the bank’s no concerns and they had kept their ICICI Bank, Axis Bank, Kotak

To boost growth, Yes Bank’s newly appointed CEO Prashant Kumar wants to focus more on retail deposits on the liability side

forbes india • may 8, 2020 yes bank

Mahindra Bank, Bandhan Bank, of its term deposits. “It is a long Federal Bank and IDFC First Bank. drawn battle… it will not change During the lockdown on account of overnight,” explains Kumar. coronavirus, about 95 percent of Yes Bank’s 1,135 branches are operational …at the worst possible time and about 80 percent of its staff is Yes Bank is still miles behind as it working from home. Kumar and seeks to go retail. Large banks such about 5,000 employees attend office. as HDFC Bank and Kotak Mahindra With funding and the moratorium Bank have grown in size with retail as concerns behind it, the Yes Bank “I expect a spike in their growth engine, as have mid-sized stock now moves in a narrow band, peers such as IndusInd and RBL. With trading at `24.15 at the NSE—albeit unsecured retail balance sheets and income affected after it was removed from the loans... but at some due to rising bad loans from corporate index Nifty 50 and banking index point, there will lending in previous years, retail had Nifty Bank from March 19. to be the way forward (see chart). be a collective Kumar and his team are trying to turn Going retail… impact on the around the bank at a challenging time. For the reconstruction of a new bank, retail portfolio, India is grappling with the the RBI superseded the previous coronavirus outbreak. And the board and nominated R Gandhi and with rising standstill in economic activity Ananth Narayan Gopalakrishnan unemployment means that growth for the first to join Kumar. The SBI nominated and/or salary cuts.” quarter of FY21 has been written Swaminathan Janakiraman and Partha off; activity may only be for nine Pratim Sengupta to the bank’s board. saswata guha, months or less, depending on how Sunil Mehta, former non-executive director, Fitch Ratings India long the lockdown persists. chairman of Punjab National Bank, The RBI has allowed all banks 23 is non-executive chairman while to offer customers a three-month Mahesh Krishnamurthy and Atul moratorium. So, borrowers can skip Bheda are non-executive directors. in deposits in nearly 12 months: From their monthly instalment payments However, to create a new `227,601 crore in March 2019 to on home, personal, auto, education financial entity, Kumar will need to `137,506 crore as of March 5, 2020. and working capital loans and credit do everything different from what “Our experience shows that it is card dues. Kumar says about 15 its founder-promoter Rana Kapoor not sustainable for a bank to be over- percent of Yes Bank customers have did during the bank’s glory days. dependent on large-ticket lending on opted for the loan moratorium and Between 2008 and 2015, Yes Bank the asset side or bulk deposits on the about 4 percent toward credit card expanded rapidly nationwide and liability side,” says Kumar. “Wherever dues. However, banks are without lent indiscriminately and aggressively there is an adverse economic cycle [as their normal cash flows because of to all, including shadow-lenders and is now], the balance sheet of a bank this. “The incentive to lend is also real estate developers. This led to a will be challenged. We need to move reduced,” says Saswata Guha, director weakening in asset quality, which to a granular portfolio—both on the and team head, Fitch Ratings in India, became a solvency issue because its assets and the liability side—to ensure which does not rate Yes Bank, but capital buffers were diminished due long-term stability for the bank.” monitors its developments. “Loan to persistent high growth, including “Our short-to-medium-term growth will be the biggest casualty [for in the most recent years. It was strategy will be to focus on the asset banks]. Other than working capital, akin speeding without seat belts. side by lending to retail and the micro we expect the incremental demand In 2016 and 2017, the bank and small business enterprises, so for new loans to be quite low.” reported divergences in its gross non- that the risk is well spread,” adds Already, non-banking financial performing assets (NPAs), which led to Kumar. About 43 percent of Yes company Bajaj Finance says it saw falsely inflated profitability. The board Bank’s loan book is towards retail a 22 percent drop in new loans did not take action against Kapoor, and MSMEs, as of December 2019. sequentially, in the March-ended the bank’s auditors or the senior On the liability side, Yes Bank will quarter, to 60 lakh and lost a million management. As loans and credit flow try to focus more on bulk deposits accounts due to the lockdown. worsened in the banking system, Yes from retail. Currently, retail term Yuvraj Choudhary, an analyst at Bank saw a sharp 39 percent erosion deposits constitute 31 percent Anand Rathi Securities, expects banks’

may 8, 2020 • forbes india “Covid-19 has yes bank Corporate Account created fresh uncertainties and credit growth to slow down and strong banks will Toughest Phase asset quality to deteriorate further. sail through. For Yes Bank also has the approval “Loan growth for several banks us, scaling would to raise an additional `15,000 will be in low single digits in FY21,” crore. Of this, the shareholders says Choudhary. Total bank credit continue for some have approved the raising of growth in India is at a 50-year low time. My biggest `10,000 crore. If the remaining of 6.14 percent, according to RBI. challenge will be amount is raised through rights Both Choudhary and Fitch’s Guha issue, shareholder approval is not fear an increase in retail NPAs with to rebuild customer required, says Kumar. This is likely the lockdown extended to May 3. trust.” to happen in the April-June quarter, Unsecured personal loans, two- either through a rights offering or wheeler financing, SME and loan Prashant Kumar, a foreign convertible bond issue. against property are all likely to ceo and md, yes bank Kumar, however, admits that the witness asset quality stress in FY21. bank’s toughest phase is “not over”. “I expect a spike in unsecured “Covid-19 has created fresh retail loans such as personal loans uncertainties and strong banks and credit cards. But at some point, strategy will be to leverage the bank’s will sail th rough. For entities like there will be a collective impact strong digital platform. “We have a us, scaling would continue for on the retail portfolio with rising lot of deposits which flow through some time. My biggest challenge unemployment and/or salary cuts,” our system, including remittances will be to rebuild trust in the bank says Guha. Yes Bank already has or NEFT, RTGS transactions,” among customers,” says Kumar. gross NPAs of 18.87 percent as of says Kumar, adding they will be The CEO has outlined deposit December 2019. Kumar’s retail used to tap new customers. mobilisation as a key focus in the near term. But Yes Bank may find The crowded retail banking space it difficult to strengthen its liability 24 franchise immediately, as customers Deployment of non-food bank credit Housing Credit cards have found more confidence in Personal loans (` billion) Vehicle loans Other personal loans banks such as HDFC Bank and Kotak Mahindra Bank which have seen 13,290 13,165 12,896 12,532 12,687 12,747 strong deposit growth in March. 12000 Strong capitalisation will also

10000 have to be maintained. Indian banks have, historically, been weakly 8000 capitalised and even a moderate 7,173 7,037 6,823 6,758 6,685 6,568 level of stress is enough to impact a 6000 bank’s balance sheet. The stagnation 4000 in economic activity means 2,202 2,136 2,211 that a majority of sectors across 2,067 2,080 2000 2,034 1,109 1,109 1,059 1,059 1,050 994 manufacturing and services will see

0 lower growth even after corporates Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 and businesses are allowed to Source RBI, Centrum Broking resume operations. “We are in an unknown unknown, it is not even Yes Bank: Key Financials known unknown,” says Guha. FY17 FY18 FY19 9MFY20 Kumar’s intentions to go retail Net Profit 3,339 4,233.22 1,709.27 -19,047 and boost deposit growth are Net interest income 5,797 7,737 9,809 5,532 workable, but in a normal economic Total Deposits 1,42,800 2,00,738 2,27,610 1,65,000 scenario. The strength of Yes Bank’s Total Assets 2,15,000 3,12,445 3,80,826 2,90,980 digital banking platform should help Return on Assets (%) 1.8 1.6 0.5 -7.6 it retain customers. If the bank pulls Gross NPAs (%) 2 1.28 3.22 18.87 through this phase, it would help *CET1 ratio (%) 11.4 9.7 8.4 0.61 erase negativity surrounding it. The *CET1 ratio is a measure of a bank’s capital against its assets strength of Yes Bank will be tested Source Yes Bank investor presentations; Moneycontrol; BSE; ICRA; India Ratings & Research ` Crore and seen over the next six months.

forbes india • may 8, 2020

Pandemic Impact

Seven startups that have stuck their necks out, innovated Entrepreneurs and made the fight against coronavirus a common goal vs Covid-19 By Varsha Meghani and Naini Thaker

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forbes india • may 8, 2020 startups

t any rate, the widening coronavirus with low medical staff are ideal use cases for crisis can be characterised as a black this kind of contactless monitoring. Similarly, a swan—an unforeseen event with drastic robotics startup based out of Kerala, repurposed consequences. True to its nature, its androids to serve patients in isolation wards. it has sent markets reeling, stalled A mobile app allows nurses to map the sequence economiesA and brought life to a halt. India’s startup of beds for the food-and-medicine-tray-carrying community, however, is showing no signs of abating. bot to follow. There’s also a Mumbai-based maker A Gurugram-based startup’s offering, for of sanitary napkins who could have carried on example—artificial intelligence-driven monitoring of with business as usual given the essential nature CCTVs in prisons—appears seemingly unconnected of its wares. But when the co-founders learnt to the crisis. Yet the co-founders found purpose that the raw materials used in menstrual hygiene amidst the pandemic. They modified their solution products and surgical masks are similar, they to work on a mobile phone, instead of a CCTV retooled their machines to make the latter. camera; taught the software to recognise a patient A selection of seven companies that is taking coughing instead of a truant prisoner. Hospitals the battle against coronavirus head-on:

Asimov Robotics: Bots To The Rescue

hen Jayakrishnan the sequence of beds, thus mapping T first heard about Asimov Robotics the route for the bot to travel. coronavirus, it took has been getting While serving food, the bot is him back to the inquiries from equipped to prompt patients to Wdifficulties health care workers clean hands using the disinfectant. 27 had to face during the Nipah virus various state It also allows patients to have outbreak, in Kerala in 2018. While and central human interactions with the Nipah was far more dangerous, governments caregivers through the screen containing the spread of coronavirus on the bot, via video calls. “The is not turning out to be easy either. across the world UV rays used to disinfect the Kochi-based Asimov Robotics, for the robot detachable box are only turned however, has been at the forefront, on when the bot is on the move. playing a key role by deploying robots —————— The minute it stops or the box in hospitals. In order to have fewer is opened, the light turns off health workers come in contact with automatically since they [UV Covid-19 patients, Jayakrishnan humans and answer any questions rays] can be harmful for the thought of creating the ‘Karmi- that they had about the pandemic, human skin,” says Jayakrishnan. bot’, which can provide essential using data and information provided The team says in case of an issue, services like food and medication by WHO,” says Jayakrishnan. 85 to 90 percent of the problems to patients inside isolation wards. Currently the Karmi-bot—driven with the bot can be fixed remotely, In March, Jayakrishnan and entirely by artificial intelligence and unless it is a hardware problem. his team deployed two robots in machine learning technologies—has Recently, the first Karmi- nearby offices in Kochi, for about been equipped with “a tray that can bot was deployed at the Cochin 10 days to spread awareness about carry both food and medicines, a Medical College. Asimov Robotics the disease and the precautions that detachable UV-ray disinfectant box has been getting a number of could be taken. “The robot would [to disinfect patients’ used items] and inquiries from various state and play videos created by the World an automatic disinfectant sprayer for central governments across the Health Organization [WHO]… during cleaning hands after eating food,” world for the robot. In order to lunch breaks, it would interact with he says. The bot can be placed near scale up, the team is in talks with the nursing station, where food and some manufacturing facilities, but (Top) Kochi-based Jayakrishnan T of Asimov medicines for up to five beds (about “the lockdown itself is proving to Robotics has created the ‘Karnibot’, which can provide essential services like food and 25 kg) can be loaded. Using a mobile be a hindrance”, says Jayakrishnan. medication to patients inside isolation wards phone application, nurses can select ● Naini Thaker

may 8, 2020 • forbes india Pandemic Impact

or not a person has lung TB can Door-to-door Tests be confirmed by a Genexpert test, Qure.ai: which costs $10 to $30 (`750 to `3,000). However, Qure.ai’s solution can be used as a preliminary test. “Only if the X-ray test turns out to be positive, the patients need to do the Genexpert test. X-rays are cheap anyway,” says Warier. The Qure.ai team realised that making minor tweaks to the technology can help in detection of Covid-19 patients, since it is also a pulmonary condition. According to the company, the technology could be used first to determine the order of treatment, since there aren’t enough test kits, and second to see how a patient is recovering during the course of the treatment. “A mobile van with an X-ray machine can go door-to-door to test patients. The qXR technology can detect an abnormality within seconds. If a person tests positive, a swab could 28 be collected for the PCR [polymerise chain reaction] test, which is required for Covid-19 diagnosis,” says Warier. With this method, the doctor can better understand the extent to which the lungs have been affected. Consequently, the right combination of drugs can be prescribed. “You can reach a much higher population with the same number of kits as well as remote places that might not have the infrastructure to do the [PCR] testing,” explains Warier. Qure.ai—a grantee of India Health Prashant Warier says the qXR technology can be used to conduct preliminary tests for Covid-19 Fund, an organisation seeded by Tata Trusts to identify and support rashant Warier and Pooja have a database of 2.5 million chest breakthrough innovations—is in talks Rao set up Qure.ai about X-rays that has been used to train our with several global organisations and two-and-a-half years ago ML algorithms.” Currently, qXR can governments to use its technology to to make quality health detect 20 types of abnormalities, and ramp up Covid-19 testing. So far, qXR Pcare accessible and affordable by identify and mark out the contours has been deployed in 40 hospitals using technology. They started with of each. “Several publications have in South Asia, Europe and North the most common form of medical shown that our algorithm is more America, and has processed 5,000 imagining technique: X-ray. accurate in interpreting chest suspected Covid-19 cases per week. Qure.ai’s qXR uses artificial X-rays than radiologists,” he adds. In India, Warier says, “The challenge intelligence and machine learning The company first applied this is that the Indian Council of Medical (ML) technologies to interpret chest technology for the diagnosis of Research has not recommended X-rays within seconds. Warier, who tuberculosis (TB) and deployed treatment based on X-rays.” is CEO and co-founder, says, “We it in about 15 countries. Whether ● Naini Thaker

forbes india • may 8, 2020 startups

a preliminary test. Apart from this, Banking On Data the company, which is incubated by Docturnal: Social Alpha, has plans to launch a symptom checker as part of its app. et up in 2016, Hyderabad- With TimBre, the testing is based Docturnal launched controlled by a health worker. For the TimBre—its flagship mobile Covid-19 DIY testing tool, however, phone application—to the Docturnal team is yet to work Sdetect patients with lung TB. The around some challenges. “Data might sound of an individual’s cough is be affected by simple changes in recorded on a third-party microphone parameters. For instance, if the subject by a medical practitioner and is sitting or standing or the distance processed in real time to detect if of the phone from your mouth. A the patient has TB. “We are trying protocol needs to be set for this,” to replicate what a pulmonologist says Pathri, adding that according does. Here, the machine learning to the test guidelines, the individual [ML] model becomes an experienced is to cough while wearing a mask. pulmonologist,” says Rahul Pathri, Rahul Pathri of Docturnal is adapting TimBre The team is awaiting Covid-19 founder and CIO. With the quality to detect Covid-19 from the sound of coughs patient data from various hospitals and quantity of data that has been and ICMR. Once the data is updated collected over the years, the team data for the ML model,” he says. in the ML model, after a short is confident of the application’s However, the technology that trial with ICMR and the required accuracy. It says the same technology was created for TB was a business- approvals, Docturnal is confident of can be used to detect if a person has to-business model, catering to taking the platform to the market. Covid-19 or not, given that it is also hospitals. Docturnal plans to The pricing will be around `100 per a pulmonary disease. “The pre-beta make the application available to test. “Our focus is not the volume 29 trial has been completed. We are now customers, with a ‘do-it-yourself’ of data, but the type and diversity in the beta stage and in talks with (DIY) test—for asymptomatic Covid- of the data that we get,” he says. ICMR to help us with actual patient 19 patients—which could be used as ● Naini Thaker

Innaumation: Masks With A Difference

n 2016, Vishal Rao and Shashank Mahesh set up Innaumation, a medical devices company, to cater to those who lost Itheir voice due to throat cancer. There were devices available in the market that could make them speak, but they were expensive. The duo designed Aum Voice Prosthesis, a device made of silicon, costing about $1 (`70 apiece). The innovation was based on the fact that puncturing the food pipe could turn it into voice box. Incubated by Social Alpha, the company has now created Laryngeal Bibs for its patients. “These patients have a hole in their throat, which means they can’t use regular masks,” explains Rao, co-founder Shashank Mahesh, Innaumation's co-founder, with a Laryngeal bib

may 8, 2020 • forbes india Pandemic Impact

of Innaumation. The company has the throat, creating a bib allows Seeing the rise in demand for designed bibs that function like cancer patients to effectively cover personal protective equipment masks to ensure that patients can their throat, which is their new (PPE) for health care workers, Rao protect themselves during the nose. “One of the main innovation and his team are looking at ways coronavirus outbreak. “Cancer was building a heat moisture to manufacture PPEs as well. patients and elderly people are more exchanger, which can moisturise “We are talking to experts to see prone to coronavirus due to their the lungs. The material used to if we can use the same material to low immunity. In our case, it’s a make the bib is water proof, so manufacture PPEs. We are working double whammy because most of even while they are bathing, the to scale this up and will begin our patients are elderly and have throat is protected,” says Rao. manufacturing the equipment since other illnesses too,” says Rao. The company is ready with it is the need of the hour,” he says. The design team thought of raw materials to expand its “This [the lockdown] is a true test for an innovative idea of creating the production capacity for these any innovator, thanks to the limited design for the bib, which looks like bibs. Currently, it is providing time, financing and manpower.” a scarf. Instead of a regular mask for bibs to patients free of cost. ● Naini Thaker Saral Designs: A New Face

30

Suhani Mohan (right) and Kartik Mehta (behind her) modified their machines to produce 3-ply face masks instead of sanitary napkins

few months ago, Suhani old Mumbai-based, Acumen-funded “Suddenly the Covid-19 crisis Mohan and her co- startup, not only made low-cost, high came to India,” recalls Mehta. And founder Kartik Mehta quality sanitary napkins but also masks were the need of the hour. were pondering over new devised—and sold—the machines Says Mohan, “Surgical masks on Aproduct launches in the hygiene that made them, spawning 30 micro Amazon were out of stock and the space. Saral Designs, their five-year- entrepreneurs across India. cost had increased by almost 10

forbes india • may 8, 2020 startups

times.” Saral’s customers started But the lockdown posed problems. got in touch, extending a lifeline. reaching out to ask whether their “We could not find suppliers who The car-making giant fabricated the sanitary pad-making machines could could fabricate the components that components Saral needed to modify be repurposed to create masks. we needed to modify our machines,” their machines. Saral tested the So the duo, both IIT-Bombay says Mehta, who serves as CTO. components, developed prototypes graduates, began studying how Undeterred, Mohan, the CEO, and, once satisfied, shifted base to surgical masks are made and learnt started shooting out emails to Mahindra’s facility in suburban that the non-woven raw materials everyone she knew. One of them Mumbai for mass production. All this used in sanitary napkins are similar was a junior from her alma mater within a week of Mohan’s shot-in- to those used in masks. Immediately who works at the Mahindra the-dark email. Today, they produce the design team, led by Mehta, got Group. “I wrote to her, saying your and ship 30,000 masks a day to state to work. Within days—working factories will have these tools and governments, via Mahindra’s CSR remotely amid the lockdown—they components that we need… will wing, for distribution to frontline made modifications to their machines it be possible for us to use them?” workers. “This has been a dream so that they could churn out 3-ply says Mohan. Within four hours, collaboration,” smiles Mohan. masks instead of sanitary napkins. the head of Mahindra Automotive ● Varsha Meghani

Biodesign Innovation Labs & AgVa Healthcare: A New Lease Of Life

rior to the Covid-19 which sells ventilators at `1.5-2 outbreak, hospitals lakh, compared to imported across India had versions that cost upwards 31 all of 40,000 of `5 lakh, is responsible for Pventilators, according to the “technology, performance one manufacturer. Of these, and related matters” of the about 20 to 25 percent ventilators, while the carmaker are dysfunctional, leaving will reach out to its suppliers around 30,000 to 32,000 to produce the required functional ventilators. By components as well as “upgrade pumping oxygen into the systems” for the production of lungs of patients, ventilators higher volumes. The partners are critical for those in plan to produce 4,000 units danger of lung failure, in April, and 10,000 units by experienced by about a May. “The aim is to hit 20,000 tenth of Covid-19 patients. ventilators a month as soon as At maximum output, possible,” says Diwakar Vaish, Bengaluru-based Biodesign AgVa’s co-founder and CEO. Innovation Labs (Bild) can Meanwhile, the three-year produce about 400 ventilators old, Birac-supported Bild, which in a month. While AgVa makes automated versions Healthcare, a Delhi-based of manual ventilators costing ventilator manufacturer, `50,000 to `70,000, had been can make 300. But that’s carrying out clinical trials at not going to be enough. various hospitals when the So they called in help. Covid-19 crisis struck. “We AgVa struck a partnership suddenly received a surge with Maruti Suzuki India to of orders,” says Gautham help with mass production. Pasupuleti, CEO and managing According to the terms Gautham Pasupuleti of Bild, which makes automated versions of director. To meet the demand, of the agreement, AgVa, manual ventilators Bild has tied up with Remidio,

may 8, 2020 • forbes india Pandemic Impact startups

a Benguluru-based maker of construction machinery maker JCB mechanical engineering at IIT- ophthalmology devices, to make India for possible partnerships. Bombay. Ventilators themselves 15,000 ventilators over the next 1 But how easy is it to repurpose are not complex devices, besides to 2 months. Bild will transfer the factories that make cars or automobile manufacturing in technology and expertise to them construction machinery to now make India is of “very high quality and and ensure all compliances are ventilators? “Making a ventilator competency. So they can definitely met, says Pasupuleti. The startup is is much easier than making a car,” do the ramping up process”. also in talks with Tata Motors and says Ramesh Singh, professor of ● Varsha Meghani

Staqu Technologies: Contactless Monitoring

n early March when the government issued a guideline that prison inmates and those visiting them must wear masks, IAtul Rai immediately got to work. Staqu Technologies, the Gurugram- based startup he co-founded with three others, was already helping the police in Uttar Pradesh monitor CCTVs in prisons, using artificial intelligence (AI). Nicknamed Jarvis, this AI warden monitors 32 3,000 cameras in 70 prisons across the state. The band of co-founders modified the technology to identify those flouting PPE compliances in prisons because “manually doing so would be impossible”, says Rai. To broad base its use, Staqu further modified the technology to work in places like temporary hospitals where there are no CCTV cameras. “Let’s say this outbreak happens in a huge manner. It’s possible that we might not have enough medical staff to deal with it. In that case, you can use your mobile phone as a streaming device,” says Rai. If a patient coughs, for instance, that will be detected by the adapted Jarvis and relayed to a command centre. A nurse can then Atul Rai of Staqu Technologies, which uses thermal cameras to detect body temperatures tend to the patient. “This allows for contactless monitoring,” says Rai. in the scene,” explains Rai. like the face or hands, rather than Now Staqu has launched an AI- The technology itself is not new; all the objects in the scene. powered thermal camera to detect in factories with heavy mechanical The Indian Angel Network- body temperatures at a range of 5 to operations, it serves as a preventive funded startup is in the process 10 m. “A thermal camera basically maintenance tool to detect overheated of finalising contracts with “some calculates the temperature of the or overloaded components. Staqu airports” looking to leverage whole environment where it is modified the technology to identify this technology to pre-screen placed and gives you the pixel-wise the temperature of the human travellers for Covid-19, says Rai. temperature of each of the objects body, particularly uncovered parts ● Varsha Meghani

forbes india • may 8, 2020

Pandemic Impact

Imaginarium, a Mumbai-based boutique 3D printing firm, whose focus has been on jewellery, furniture and medical implants, is now racing to make PPE face shields and 3D-printed circuit splitters that will allow multiple patients to use a single ventilator

34 The 3D Mobilisation The unorganised and sluggish 3D printing sector could have a windfall gain as companies make PPE and other critical equipment to fight the Covid-19 crisis

By Pankti Mehta Kadakia

few days before Prime his brother, Parth, 27. “The next wearer from any contaminated Minister Narendra day, I saw a tweet from a doctor droplets they may encounter. Modi announced in Bengaluru saying there’s a huge Boson has delivered more than the first nationwide requirement for certain products. We 12,000 face shields since, to hospitals lockdown to control immediately set things in motion.” including Jaslok, Kasturba, KEM Athe spread of the coronavirus The Panchal brothers consulted and Cooper in Mumbai. “Four days on March 24, an intern at Boson with physician Dr Swapneil Parikh, ago, our capacity was to produce Machines, an additive manufacturing who has co-authored a book called 800 pieces per day. But now, startup based in Mumbai, pitched The Coronavirus: What you Need to with the help of the Maharashtra an idea: With the situation getting Know about the Global Pandemic. government, we can make 6,000 worse, could 3D printing help? Parikh has helped Boson Machines masks a day,” says Arjun. Until now, the company’s focus develop its core products in response The project is entirely has been on manufacturing the to the Covid-19 crisis: Medical grade crowdfunded—the duo raised close 3D printing machines themselves. face shields made of PVC, with an to `21 lakh in five days ending March Overnight, they found an open source elastic polycarbonate headband 30 on crowdfunding platform Ketto, design and printed a sample of a that has foam cushioning. after running a campaign with social plastic face mask, similar in design Face shields are considered an media celebrity Kusha Kapila. The to the N95 that is in great demand integral part of the PPE (personal state government asked them to at the moment. “That’s what lit the protective equipment) for health amplify production, and fast-tracked spark,” says Arjun Panchal, 25, who care workers, adding a layer over all permissions needed. Boson has co-founded Boson Machines with the face mask and protecting the now developed a network of about

forbes india • may 8, 2020 3d printing

150 3D printing machines, so the face with the PVC fabric, which is also In a worst-case scenario, India shields are being printed at factories used in their cinema screens. will need between 1.1 lakh and from Vasai to Colaba, then brought While they started with an open 2.2 lakh ventilators by mid-May, to their headquarters in Goregaon for source design, they had to tweak it to says a study from US-based think the final assembly and quality checks. suit local needs. “Open source designs tank Brookings Institution. Like Boson, many startups with are a great start point but they are “If people don’t stay home and access to 3D printing facilities have very generic,” he says. “For example, we can’t control this, we’re in deep stepped up to help provide health it’s common in India to have longer trouble,” says Kaushik Mudda, care equipment across the country, hair—in the original design, if the co-founder of Ethereal Machines, using inventive designs—and doctor had a braid tied, the headband which raised $1.25 million last year developing entirely new business would just slip off. We had to make from investors including Bloom models in the process too. the back protected such that it would Ventures, Citrus Pay founder For instance, Bengaluru-based stay in place under any condition.” Jitendra Gupta and others. “It could Harkness Screens, a 90-year-old They have produced 4,000 each take about three months to make company that makes cinema screens of face shields and curtains, and so many ventilators; and those that for the country’s leading multiplexes, should have a total of 25,000 face companies like Mahindra are putting has now taken to 3D printing face shield orders fulfilled by the end their might behind are essential shields, along with PVC aprons and of the month, hoping to escalate to war solutions, but not the complex curtains for doctors and quarantine 1,50,000 in the next order batch. Two ventilators we need to really get centres, which can be sprayed with thousand aprons will be delivered the job done. We started thinking sanitiser and quickly disinfected. after restrictions are lifted. about what the next best thing was Mumbai’s Imaginarium, whose to augment ventilator capacity.” core business is 3D-printed Battle to breathe Ethereal started working on jewellery, has all hands on deck to India is estimated to have 40,000 their solution on the day PM Modi make face shields too. Imaginarium ventilators, of which about 20 to announced the first phase of the is also attempting to produce 25 percent could be dysfunctional; nationwide lockdown. “It’s been 35 circuit splitters for ventilators, so that leaves about 30,000 to 32,000. crazy,” Mudda says. “The first five multiple patients can use the same ventilator—as is Bengaluru-based Ethereal Machines, a deep tech startup that builds CNC (computer numerical control) machines, hardware and software, which control processes such as 3D printing. “I’m a motorcyclist and I’ve always been fascinated by the story of Ducati, which started off making radio equipment until after their factory was bombed in the Second World War,” says Preetham Daniel, senior vice president - Asia, Harkness Screens. “BMW began as a jet engine maker. I’m always fascinated by such stories, and consciously keep them in mind. To me, this situation is nothing less than a war. Companies will need to adapt. Who knows, our future might be in medical grade equipment.” Daniel says he and his company had no prior experience in the field—“I didn’t even know what a face shield was, I was calling it a visor,” he laughs—but they could (From left) Parth and Arjun Panchal of Boson Machines make 3D printers, but are now working leverage their expertise in dealing with hospitals to make face shields, valves for oxygen masks and plastic masks

may 8, 2020 • forbes india Pandemic Impact

days, we were just driving around from hospital to office, without permits, braving it out, hoping that if somebody stopped us, we would explain to them what we were doing and they would let us go.” In the second week, they got permission from government authorities to make ventilator equipment. “We decided to put our deep tech expertise to use,” he adds. As the crisis played out in Italy, when doctors had to pick and choose between patients, the idea of a 3D-printed splitter came to the fore— where an extra attachment is built for the outside of the ventilator, where the oxygen supply goes from. It splits the supply 50:50 amidst two patients. “It’s an extreme, last-resort measure,” cautions Mudda. “When we started talking to doctors here, we realised that the issue on ground is with that 50:50 ratio. Different patients have different 36 requirements, and the equal split often ends up making one patient collapse faster while the other recovers. The actual split required (From left) Kaushik Mudda and Navin Jain of Bengaluru-based Ethereal Machines are making could be 30:70 or 40:60, depending parts for ventilator splitters on the health of each patient.” The other issue is of cross- out results, and time is absolutely As part of Dassault’s open contamination of previous, other essential right now,” Mudda adds. innovation and startup accelerator illnesses between the patients. “We’ve finalised on a design and as programme, the 3DExperience Mudda and his team began working we speak, it’s being tried on a test Lab, Inali began work on a rapid on ‘differential ventilation’ that can lung. But this is one of those few times prototyping system in early April. also prevent cross-flow and claims when I’m hoping someone doesn’t “With permissions in place, we can to have cracked it for the first time have to use what I create—it’s really create 100 ventilators in 15 days,” in the world. “We were no experts an extreme, last-case measure.” says Gade. “3D printing lets us use in ventilators or pulmonology, but The 3D printing technology also simulation and modelling to see we sat with doctors to understand enabled Inali, a non-profit in the how the system will actually behave, how ventilators work. It took us assistive health care field, to quickly without rigorous trials needed. We’ve eight iterations over 10 days to iterate a smart ventilator design. Inali, got permission from local authorities perfect a prototype. That speed which works between Vadodara and to travel for material and research, is thanks to 3D printing.” Pune, has been making affordable and have built our prototype.” Across the world, 3D printing is prosthetic arms for certain upper Inali’s ventilator automatically being used for quick prototyping. It limb disabilities since 2015. It uses measures pressure—giving a doesn’t need expensive, cumbersome 3D printing extensively to create patient extra pressure could kill mould making, and lets you print prototypes. The company’s founder him or her—detects leakage and minimal quantities and modify and CEO Prashant Gade, through a volumes, among other parameters designs down to details. All you need course in Paris, has found mentorship that WHO recommends for to do is then download the design in multinational software firm monitoring coronavirus patients. and procure the material needed. Dassault Systèmes, which specialises The prototype is pending medical “3D printing immediately puts in 3D software and engineering. approval with government

forbes india • may 8, 2020 3d printing

years of existence, 3D printing has not commanded that kind of disruption.” One of the main problems, Rao adds, is that there is no concept of economies of scale in 3D printing. Even in mass production, it could cost about three times as much to produce a single 3D printed face shield (Harkness estimates this cost at about `65), versus that of injection moulding (in which cost could come down to as low as `20 per piece). “However, we choose to leverage the technology’s strengths instead. So as a company, we work on making one-of-a-kind jewellery pieces, or patient-specific implants. For example, every person’s skull is different. If someone has an accident, their skull will need a uniquely shaped implant, and that kind of custom build with biocompatible or implantable material is made possible by 3D printing.” In crises like the current pandemic, such strengths could outweigh the 37 technology’s weaknesses. “Certainly, the global pandemic has given a Preetham Daniel's Harkness Screens usually manufactures cinema screens, but since the crisis began it has pivoted to making face shields and aprons using 3D printers​ tremendous boost to the 3D printing industry,” says Bhavesh Kumar, authorities at the time of writing. Machines, and about 1.5 hours to SIMULIA lead, India, Dassault create a single face shield, says Systemes. “However, if we have Turning point? Panchal of Boson Machines. to make 3D printing successful in The full potential of 3D printing “Unless you have a whole line of 3D India, we first need to build a strong is yet to be seen in India, where printers continuously working, you foundation of know-how. In post- adoption has been largely fragmented. can’t get into the volumes required Covid India, we should see companies According to a 2018 report by Wohlers to address this immediate crisis,” exploring how 3D printing can cater to Associates, a 3D printing market adds Daniel. “In a normal situation, it local demand that was not considered research firm, India makes up 3 would have been fine. But right now, earlier. It is also important to identify percent of total 3D printing units demand is running into thousands a the right demand in the market, in the Asia-Pacific region, while day. Even at about 35 minutes a piece, connect with the right stakeholders China and Japan hold 35 percent it really takes a toll on the machine.” and respond expeditiously.” and 30 percent respectively. Most startups, then—besides Boson, Currently, when logistics are One of the factors is the which has enlisted a wide network of proving to be a huge challenge prohibitive cost of the machines printers that are constantly running— because of the lockdown, 3D printing themselves—the most basic 3D are limiting the use of 3D printing to could help fix the critical supply gap of printer variants can cost between the prototyping stage. Conventional PPE and medical equipment. “Even if `2 lakh and `5 lakh. The second processes like injection moulding, I have the capacity to produce 30,000 factor is time; while the technology instead, prove more cost effective units, I might not be able to distribute is great for rapid prototyping, and efficient to mass produce. them to where they are needed,” adds it is slow to mass produce. “We went from dumbphones to Mudda. “Meanwhile, if someone It takes six to eight hours to smartphones in just about two or three in, say, Kolkata, can download my make one unit of the ventilator years,” says Imaginarium founder design, print and hand it over to a local splitter, explains Mudda of Ethereal Guruprasad Rao. “But even after 30 hospital, it might help save lives.”

may 8, 2020 • forbes india Pandemic Impact The Social Network A number of crowdfunded and community-based initiatives has come forward to combat the social and economic fallouts of the Covid-19 outbreak

By Kathakali Chanda and Divya J Shekhar

Mahesh Venkatasubramanian

38

Residents of Chennai's Zone 13, including Archana Hari (centre), crowdfunded `22 lakh for their neighbourhood's 1,038 conservancy workers t all started with a Facebook elderly, in Bengaluru. The response On March 20, Nagaraj acquired a post. On March 16, as social was overwhelming—the post was new mobile number to operate as a distancing was being advised to shared and re-shared, and requests helpline for Caremongers India. “I contain the spread of Covid-19 poured in from those asking for help was naive enough to believe I could in India, freelance digital as well as those volunteering it. Within handle operations on my own. Once Imarketer Mahita Nagaraj put up a 24 hours, the post snowballed into a the phone number was given out, 800 message on her wall, asking whether Facebook community, Caremongers to 900 calls started coming in a day,” her friends who stayed overseas India, as 200 members joined it from says the 38-year-old single mother. would like her to check in on their across the country; the number rose But even then, the community was near and dear ones, especially the to 3,500 in the next three days. just beginning to grow. The explosion

forbes india • may 8, 2020 community initiatives

Renjen Pavithran happened after the national lockdown was announced on March 24. “About 80 percent of the help requests we got were from senior citizens. They were the most affected by the lockdown, because of their reliance on outside help, be it their maid, driver etc. Now, in under a month, I don’t think there is a single state in the country from which we haven’t received a request,” says Nagaraj. While some Caremongers offer physical assistance by running errands—like delivering medicines to an HIV patient in Noida, or food to a post-operative patient in a Bengaluru hospital after its in-house catering unit shut down overnight due to the lockdown—some others help out in spirit by offering contacts and even calling up to check in on members Mahita Nagaraj, founder of Caremongers India, started a community-based altruistic initiative through the period of isolation. to help citizens, especially the elderly, who are affected by the lockdown “We are so touched by what these has also seen a surge of crowdfunded protective equipment (PPE) kits for youngsters are doing in times of and community-based initiatives frontline health care professionals, need,” says Anju Chopra, a retired to fight the economic and social civil society has stepped forward advertising professional from Kolkata. fallouts of the pandemic. The national to stem the downward spiral. 39 Chopra, 65, is recovering from a lockdown has mandated that most of Sociologist Dipankar Gupta fractured femur, while her 71-year- the people across the country should believes that more people coming old husband is diabetic. Caremongers stay indoors, but a few communities forward to help others indicates allocated an IT analyst to help them and volunteers have been selflessly an increasing collective awareness out with the supply of their weekly stepping out, risking their own that, in the absence of immediate groceries and provisions. “One day health to mitigate the suffering of government help, people will have we were running out of money. I gave the most vulnerable sections. to start doing whatever they can in him a cheque and told him it might Be it running community kitchens their own capacities. “A pandemic take over two days to get encashed. for destitutes or migrant labourers like this reflects the true essence He just got us the cash the next day, who find themselves stranded of people in many ways,” he says. no questions asked,” adds Chopra. as businesses wind down for the Consider that in the five weeks Nagaraj borrowed the concept month or longer, supplying rations that crowdfunding platform Milaap of ‘caremongering’ from a BBC to the underprivileged, looking opened up its channels for Covid- article about the trend in Canada, after abandoned pets and strays, or 19 focussed fundraisers, over where community-based altruistic raising funds to organise personal 68,000 donors have collectively initiatives have seen a spurt in the contributed nearly `72 crore across wake of the pandemic. A play on 900 campaigns (as of April 13) the word ‘scaremongering’, while There's an initiated as much by NGOs and being antithetical in its essence, awareness that corporates as by individuals. fitted the motto of the group: Of in the absence of “Whenever there is a natural building solidarity. That it would disaster or something that impacts escalate into a pan-India movement government help livelihoods, lives, or infrastructure with over 32,000 volunteers by the people will have for a lot of people, we notice a wave second week of April is something to do what they of collective endeavour by the she considers almost a quirk of fate. public,” says Mayukh Choudhury, While the Covid-19 outbreak has can in their own co-founder and CEO, Milaap. “The turned out to be as big a humanitarian capacities first time I saw this was during the crisis as it has been of public health, it —————— Chennai floods in 2015, and it has been

may 8, 2020 • forbes india Pandemic Impact

the same subsequently. Bigger the defence for health care workers— disaster, bigger the public response. HISTORY SPEAKS for St John’s National Academy of We have built our capabilities In the past, civil society around the Health Services in Bengaluru. In based on this phenomenon.” world has often stepped up during under 24 hours of uploading their disasters According to data research fundraiser on Ketto, the duo raised 1985 firm Statista, transactions across `5 lakh; in three weeks, they met Earthquake, Mexico City crowdfunding platforms in India Group of youngsters started rescuing their goal, and then some more. are valued at $1.8 million as of hundreds of people, despite having no “All we did was talk about it and training, experience or equipment. A year later, 2020. The number of fundraising they formed an official search and rescue push it just a little. My husband shared campaigns in India is expected organisation ‘Topos de Tlatelolco’ it on Facebook and LinkedIn, and to increase from approximately 2001 I posted it on my fledgling Twitter 16,000 in 2020 to 24,000 in 2023. September 11 terror attack, USA account. Initially, we had some idea Between 30,000 and 40,000 volunteers While Statista will take into arrived spontaneously at Ground Zero. The Red about who was donating—friends, consideration the specific impact Cross received 22,000 offers of assistance their friends. But after `5-6 lakh, during the first two weeks after the attack of Covid-19 on the country’s we didn’t even know; the campaign crowdfunding segment only in 2009 took on a life of its own,” says Black Saturday bushfires, Australia Q2 2020, all the platforms Forbes Two farmers formed a voluntary organisation Krishnamurti. “The only reason India spoke to have dedicated BlazeAid to clear debris and re-build over I am talking to people about this 400 km of fences in Victoria. Members of the fundraising pages and resources non-commercial social club Four Wheel Drive initiative is I want to put it out there to handle the increasing number delivered caravans to families, cleared debris, that it’s pretty easy to do something re-fenced properties, delivered hay, and helped of people wanting to either run the fire brigade if someone tries. I find it very hard their own campaigns or donate to 2010 to ask people for money, so if I could existing ones during the pandemic. Earthquake, Haiti do it, pretty much anyone can.” Online crisis map set up by the students Help also streamed in once hile platforms like Milaap of Haiti University manually processed, eight residents from Chennai’s crowdsourced and reviewed 1,500 reports 40 and Ketto—where another through an open-source platform called Zone 13 (that stretches from RA 500-odd Covid-19 related Ushahidi; aided and rescued 10,000 people Puram to Thiruvanmiyur along W through their SMS service fundraisers are in progress—have the coast) decided to raise some 2011 waived off the 5 percent fee they Earthquake, New Zealand money to incentivise the locality’s charge on the total amount raised, A student volunteer army and the farming conservancy workers who’ve they also form credible intermediaries community provided an estimated $1 billion maintained a near-complete worth of labour in relief work in the first week between multiple strata whose paths after the disaster in Christchurch attendance despite the lockdown. may not have crossed otherwise. They launched their campaign on 2015 For example, Ketto has helped Sujit Earthquake, Nepal Milaap along with the Janta Curfew Dilip, the proprietor of Rambo In roughly 45 days, crowdfunding sites raised on March 22, when Prime Minister Circus, raise `8.5 lakh to feed his over $20 million Narendra Modi implored citizens team of 90 artistes and a few animals, 2017 to applaud frontline workers by after they were forced to shut since Hurricane Harvey, USA clapping or clanging utensils. GoFundMe raised $41.6 million from 209,000 March 13, when the Maharashtra donors; corpus used to repair and rebuild “We wanted to go one step beyond government ordered a closure of over 600 homes and 420 child care centres, applauding and show our appreciation distribute 26 million meals, provide health care malls, auditoriums, and theatres. “This for over 6,500, and distribute medicine to more in a more tangible way,” says Archana will help us meet the basic expenses than 10,000 patients Hari, a resident of Besant Nagar. through this month. But if this crisis 2019 “Most of these workers come from goes on for longer, it will drive us Australia bushfires slum areas, are breadwinners, and towards extinction,” says Sujit. Over $3.4 million raised by over 65,000 donors earn barely enough to make ends across over 700 pages on GoFundMe. Around Crowdfunding has also enabled 44,000 international donors raised over $1.9 meet in their families. We decided IIM-Bengaluru professor Shankar million on the platform for the Port Macquarie to raise some money for a direct Koala Hospital Venkatagiri and his teacher wife benefit transfer so they have the

war 2019 a

p Sangitha Krishnamurti transform agency to decide how to spend it.” Typhoon Wipha, Hong Kong

eer casual drawing room chatter into The campaign ended with nearly m YouTuber Jason Chau started a crowdfunding action and raise over `20 lakh to buy campaign to help people affected by the `22 lakh from about 618 donors, typhoon, over 4,000 Hong Kongers donated hics: sa hics: ventilators and PPE kits—the former including a 93-year-old grandmother p more than ¥13.8 million

crucial for critical patients and the S ource Media Reports who goaded her entire building and nfogra I latter comprising the first line of her family in the US to contribute.

forbes india • may 8, 2020 community initiatives

The entire corpus was disbursed among 1,038 workers on April 14, on the day of the Tamil New Year. The next day, the local kids gave handmade ‘Thank You’ cards to the workers in their respective localities. “In our regular life, helping others or giving back takes a lower priority, which is normal. But when it comes to a crisis, we see those less gifted than us go through much tougher times. That pushes us to go beyond our routines to see how we can help those affected,” says Archana, who volunteers with a few non-profits.

itching in to fight the pandemic isn’t merely about money, P but also to ensure the social fabric isn’t ravaged by the crisis. Aching loneliness is a recurrent theme that transcends age groups and social classes through times Activist-filmmaker Kasturi Basu and her friends run Radio Quarantine Kolkata from their respective homes, fostering connectedness and cameraderie over airwaves of forced confinement. A group of 10 friends—film-makers, lawyers, “Besides, it’s a medium that makes workers, stranded migrant workers journalists, urban history researchers, people nostalgic as well as gives them and others who make distress calls 41 among them—from Kolkata, who a break from the constant attack for unpaid rations and wages. “We were deeply involved in a number of of images.” The content, mostly in have access to the internet, phones socio-political movements before the Bengali, is a veritable potpourri, and a network where some of us lockdown, grasped the anxiety the ranging from children’s programmes are IAS officers, or some of us isolation caused citizens when their (occasionally hosted by a teacher know someone in the police or the own activities came to a grinding halt. based in Norway) to current affairs administration, or are able to reach On March 24, as Modi announced and analysis, and is rounded off with a local NGOs or political parties. We the national shutdown, they few hours of music that lasts till 2 am. make use of these tools to amplify launched a radio streaming service, Basu is also part of the Public cases and resolve them,” says Basu. Radio Quarantine Kolkata, to foster Monitoring Initiative, a loose network With about 700 volunteers connectedness and camaraderie over operating in West Bengal and operating through a Facebook group, airwaves. Hosted on free web-based beyond that caters to unorganised Basu claims to have reached out to platform ZenoRadio, RQK is a 24x7 over 5,000 workers, bridging the station with a mix of pre-recorded and WHAT'S IN THE POCKET information gap over their allowances repeat programming, and ratcheted and redressal mechanisms. “One Transaction value of crowdfunding up over 5,000 listeners (3,820 around the world (in $mln) of our biggest peeves is that the among them unique) in nine days. government should have disseminated “We thought radio will be an 2017 3979.4 information to these groups in the appropriate medium to reach out, 2018 5319.2 middle of this pandemic, but hasn’t. because, first of all, it’s fairly easy to 2019 6923.6 So we pick up the loose ends.” set up a station even when each of us Making government schemes work 2020 8537.3 is working from our respective homes. for citizens is a motto that drives 2021 9963.2 Also, generating content for radio is Kuldeep Dantewadia, co-founder of not as big a hassle as trying to make 2022 11,113.7 Reap Benefit, a not-for-profit that video content. Creating audio content 2023 11985.6 enables citizens to solve problems is as easy as recording this phone 0 2000 4000 6000 8000 10000 12000 in the local wards, neighbourhoods call,” says Kasturi Basu, documentary S ource Statista; numbers beyond 2019 estimated and communities of Bengaluru. In film-maker and a trenchant activist. 2019, Reap Benefit was building a

may 8, 2020 • forbes india Pandemic Impact

We are so touched by what these youngsters are while her 71-year-old husband

42

Karan Berry (left) and Leon Vaz of​ Karleo, a fashion brand from Mumbai, repurposed its export order for masks and delivered them instead to BMC for its high-risk workers like cleaners and sweepers

hyperlocal dashboard that would crore-plus that have been allocated expanded it to eight cities. allow citizens to reach out to their for schemes introduced by the state It’s a similar sense of the greater local representatives and lobby with and the national governments. And good that prompted a turnaround them to address pressing civic issues. we want to get the civil society and for Karleo, a Mumbai-based Even as the team was prototyping citizens together in helping the fashion brand that specialises it, Covid-19 invaded India, forcing government deliver these schemes in bridal wear. It repurposed its Reap Benefit to transform into to the people who really need it,” mask export orders to the US, Italy a database where people could says Dantewadia, who has already and Lebanon and delivered them crowdsource information about to the Brihanmumbai Municipal infection hotspots, availability The NRAI is Corporation (BMC) instead. The of groceries, medical help etc. civic body governing Mumbai then The dashboard now has over making use of its provided these masks to high-risk 65,000 data points and has impacted infrastructure, workers like cleaners and sweepers. about 30,000 families. In the last manpower and Karleo, whose parent company nine days of March, it had between Elliven Exports clocks a turnover of 13,000 and 15,000 views, of which stocks to serve `3.5-4 crore per annum, had already a fourth were returning users. meals to migrant created the mask prototype in sync “Over the mid-to-long-term, the workers and with export guidelines when the dashboard will become a physical tool, pandemic exploded in India, and it acting like an assisted marketplace to help halt reverse approached BMC with a proposal the government and citizens. We are migration to deliver 5,000 non-medical masks working on mapping all the `2 lakh —————— free of cost. Stitched across five

forbes india • may 8, 2020 community initiatives

clusters in Mumbai—south Mumbai, Worli, Bombay Central, Mira Road and Jogeshwari—the company has deployed work-from-home women and daily wagers, seven to 10 in each cluster, who’ve lost employment due to the complete shutdown of business in the state. “Our whole model is contactless. Once the masks are made, the women pack and seal them, and drop them in a basket in front of their house. We have deputed one person per cluster to pick them up and bring them to our office where we sanitise, iron, pack and hand them over to the BMC,” says designer Leon Vaz. Like Karleo, the National Restaurant Association of India (NRAI), which represents over 5 lakh eateries in the country, Kuldeep Dantewadia, co-founder of Reap Benefit in Bengaluru, started a hyperlocal dashboard is making use of its established to address pressing civic issues​ and has now transformed it into a Covid-19 database infrastructure, its trained manpower and stocked-up essentials to serve areas like north-west Delhi or the sure we get the vehicle passes, the meals to migrant workers and Gurugram-Manesar Road on the personnel passes; even landlords have help halt reverse migration, which other. In the initial days, the supply been helpful in enabling us to open 43 was the biggest worry faced by chain was broken in places but, up our kitchens during the lockdown Vinay Pratap Singh, the municipal Arora claims, the Delhi and Haryana period, with the right permissions of commissioner of Gurugram. governments have ironed out the course,” says restaurateur Zorawar “We have been able to raise details in the subsequent weeks. Kalra, who joined the initiative in over `60 lakh, plus have received “The entire government machinery anguish after watching thousands 6 tonnes of groceries [equivalent has been extremely helpful in making of migrants walk towards the Uttar to nearly 13 lakh meals, valued Pradesh border on the Gurugram- at about `2 crore] from various Faridabad road. “We are in the NGOs, individual restaurateurs and WHAT COUNTRIES DONATE business of feeding people and this housing societies,” says Amit Arora, Value of crowdfunding transactions is the best way we can give back.” (in $mln) before Covid-19 outbreak the Delhi chapter head of NRAI, Like the novel coronavirus that and founder of Buddy Group. The knows no boundaries in who it initiative, which has already served USA France infects, community initiatives too 86 over a million meals, is commendable 782 have bridged gaps to combat its as the F&B industry has set aside China perils. “The big divide [between the worries over its own uncertain future 7,049 new, rich Gurugram and the old] UK and come together to ‘Feed the Canada has been broken. It’s heartening to Needy’, as the campaign is called. 47 100 see the city rise as a community as Brought up in the restive Punjab people from across socio-cultural of the early 1980s, Arora isn’t a S ource S tatista milieus are organising over a lakh stranger to curfews or the template meals a day,” says Vivek Kalia, of cooking communal meals at CROWDFUNDING IN INDIA estate officer, Gurugram and the restaurants; he has replicated the $1.8 million: Transaction value of nodal officer for food distribution model in the NCR region, ensuring crowdfunding campaigns within the city during Covid-19. equitable disbursement of meals on Perhaps in it lies the outbreak’s 16,000: Approximate number of annual either end of the social spectrum— campaigns biggest takeaway. tony neighbourhoods like Greater $112: Average funding per campaign ● With additional reporting Kailash on one hand to far-flung by Mansvini Kaushik

may 8, 2020 • forbes india Pandemic Impact Fate of Food How agritech ventures are attempting to fix the supply chain that has collapsed during the pan-India lockdown

By Naini Thaker

inesh Tomar had been crucial period for us. Poore saal ki the supply chain has most farmers pacing around in his 500 kamai abhi milti hai [we earn for like Tomar worried. With bare sq ft house in Tauli Bhud, the entire year now],” he says. The minimum sale taking place since Uttarakhand, since 9:45 pandemic has proven to be a great the lockdown was announced on am on April 14, 2020. challenge. With no transportation March 24, what will farmers do DIn about 15 minutes, Prime Minister and bare minimum labour, he adds, with the excess supply? And not just Narendra Modi was to address “if the pandemic continues, my farmers, most of the others in the the nation about the coronavirus fear is our wheat will stock up, and supply chain—be it wholesalers or pandemic. While, at the back of his eventually rot”. As expected, Modi retailers—are struggling with either mind, the wheat farmer knew that announced an extension of the a complete stock-out, or oversupply. an extension of the lockdown was lockdown till May 3, with an ease Bengaluru-based agritech venture much needed, he couldn’t help but in some guidelines from April 20. wonder how badly this would affect Although there are guidelines The volume of goods at Azadpur​​ Mandi, in

MD MEHARBAN his crop. “This [April] is the most in place, the current disruption in north Delhi, has halved due to the lockdown

44 food supply chain

Krishihub reckons it has a solution: A non-commercial crowdsourced dashboard that brings together sellers, buyers, agri-machinery providers, ambient and cold-storage providers, logistics service providers, pan-India, by location. The dashboard, called Essential Commodities Exchange, has been created along with SatSure, a data analytics company helping farmers be financially secure and have crop insurance, Numer8, a data- science company, and ThinkAg, a platform for agri and food innovation. “This enables stakeholders to know what is available in which location and with who, and acts as a public Rajiv Mehta (left), an area sales manager ​of Agrostar, delivers bajra seeds to Nilesh Patel, a farmer in Vadodara district, Gujarat good in helping reduce shortages and wastage during the lockdown,” says we are doing our best to get operations existing engine, but it quickly realised Jyotiska Khasnabish, co-founder and up and running so that we can reach as they had to do more because of CTO of Krishihub, a B2B platform many farmers as possible,” adds Sheth. consumers’ limited movements. Some that enables farmers to sell their While Agrostar caters to farmers’ of the solutions that Ninjacart came crops directly to businesses at a better input needs, Bengaluru-based up with within a span of 48 hours, price. “For certain perishable crops, Ninjacart goes a step further, and points out Vasudevan Chinnathambi, farmers are selling their harvest at a helps farmers connect directly to co-founder, Ninjacart, “include taking loss in order to clear their inventory. retailers by placing their orders on our trucks directly to apartments 45 We have also seen the news of grape the Ninjacart app. The company’s and setting up a mobile store. Over farmers dumping their harvests in first priority was to strengthen the the last two weeks we have tried to the ground,” he adds, highlighting make the experience a lot smoother.” why a dashboard like Essential If the good old kirana stores are Commodities Exchange is necessary turning out to be the saviours for many under the current circumstances. during the lockdown, it’s also the Like Krishihub, a clutch of agritech efforts of grocery-focussed business- startups are working on different to-business (B2B) ecommerce

parts of the supply chain, and trying LAKSHMANAN SELVAPRAKASH players that are helping keep the to streamline the process. One that shelves of these mom-and-pop shops is looking at the basics—delivery of stacked. One such venture is the inputs to the farmer’s doorstep—is Bengaluru-based Jumbotail, which Pune-based AgroStar. Founder works with over 25,000 kirana stores Shardul Sheth points to another across Bengaluru and Telangana. challenge. “The sowing for the kharif In the current crisis, Jumbotail crop is to begin soon, especially in has identified about 500 SKUs (a Rajasthan and Haryana. But due to stock-keeping unit is a distinct item the pandemic, farmers are paranoid, “As we control type for sale with a unique code), and refuse to leave their homes. So out of its 3,000+ SKUs as absolutely there is no sowing happening.” That our supply chain, essential items, and are working with impacts AgroStar, which is currently we can make suppliers to make them available. working at about 50 percent of its total changes quickly The company claims to be working at capacity. In the last two weeks, Sheth full capacity despite the challenges. has managed to get permissions from and redeploy Co-founder Ashish Jhina says this is state authorities to begin operations resources.” because of the five-year-old startup’s in Maharashtra and Rajasthan. “So —————— robust supply chain, driven entirely far there has been a 20 percent dip in Ashish Jhina by artificial intelligence and machine demand for inputs from farmers, but co-founder, Jumbotail learning technologies, which allows

may 8, 2020 • forbes india Pandemic Impact

them to serve about 5,000 households general stores, food transportation, daily. “At a time like this, as we are in food processing industries outside control of our supply chain, we have municipal limits and those engaged the ability to make changes quickly in harvesting, procurement and and redeploy resources,” adds Jhina. markets. Still, normalcy in supply At a time when most companies are may be some time away. facing a shortage of labour, Jumbotail Hemendra Mathur, Venture has managed to rope in workers Partner at Bharat Innovation Fund, from non-essential services. “We are an early-stage venture fund that working with non-essential services “Their [farmers'] invests in agri innovation startups companies to utilise their workforce biggest fear is (among other sectors), believes to ramp up delivery capacity. Our fully there’s enough supply but it is the automated in-house supply chain is who will buy supply chain that needs to be fixed. designed for quick onboarding with their produce, “The stock is not moving, which is just 1 to 2 hours of training and we since logistics is why we have seen much reduced are leveraging this to bring in more arrivals over the last two weeks,” pickers and delivery executives not easy at the adds R Ramakumar, Nabard Chair into our system,” adds Jhina. moment.” Professor, School of Development Agritech startups have been doing Studies, Tata Institute of Social their bit in terms of innovating, but —————— Sciences. Krishihub’s Khasnabish Nupur Agarwal existing grocery delivery players F ounder, Kiwi Kisan window says demand for his venture has such as BigBasket, Grofers and fallen as “many of our customers— Amazon have seen unprecedented restaurants, hotels—have shut down growth in the past few weeks. Not of liquidity. “We will have to sell at indefinitely. So we had to move our only has BigBasket started hiring extremely low prices once things get focus to grocery stores, apartment 46 executives to meet this demand, back to normal,” says Khan, adding blocks and housing societies.” they have also tied up with Uber to that he hopes for some ease in the With the demand-supply equation deliver essential services across India. lockdown for farmers like him. going awry, pricing has taken a Other online ventures like Cure. Khan is not the only farm worker hit. Mathur states that given the fit, Zomato and Swiggy have also living on hope. Since the 21-day restrictions on movement, “the prices extended their services to deliver lockdown was announced, the of fruits and vegetables will be much essential commodities to customers. entire food supply chain has been lower, if they are sold closer to the disrupted. Since mid-April, there location of production. And in other housands of kilometres away has been a relaxation for grocery and places, where there is demand but from the sporadic bustle T outside grocery stores in the cities, Shaukat Khan takes stock of his harvest in Kupwara in Kashmir. Since the pan-India lockdown began Khan, who harvests walnuts, almonds and apples, has been sitting on a pile of last year's crop that is steadily rotting away in his backyard. “Wheat and a number of other grains are a part of the minimum support price (MSP, a price the government guarantees farmers for their produce), and so those farmers have the benefit of the government buying their crop, no matter what,” he explains. The harvest season for his current crop begins in June, and the impact of the ongoing lockdown will severely affect A Jumbotail staff member in a Bengaluru warehouse scans a QR code for the drop location of a the next season’s sowing due to lack consignment of grocery and staples to one of the thousands of kirana stores in the city

forbes india • may 8, 2020 SUPPLY CHAIN AND food supply chain CHALLENGES AT EACH STAGE

Farmers  Lack of labour  No transportation restrictions on movement, prices will available agrees it is a necessary measure, increase.” According to data provided  APMC markets shut according to reports, there were 5 by the government’s Agricultural  Excess crop piling up lakh trucks stranded on highways and Marketing Information Network,  No liquidity to buy at state borders as of April 2, 2020. prices of potatoes, for instance, have next season's inputs Like agritech, social entrepreneurs increased across states. In Uttar are also doing there bit to help Pradesh, for instance, they had risen Wholesalers & Processors streamline the supply chain, especially from `1,208.72 per quintal in March  Hotels, restaurants and cafes shut, for farmers. Nupur Agarwal, who set drop in demand to `1,449.51 per quintal by April. The up the Kiwi Kisan Window (KKW) reason for the price rise: Disruptions  Lack of labour in 2017, is now working with farmers in the supply chain, which would take  Excess stocks piling up directly to generate employment by a few more weeks to normalise. “It  Difficulties in transportation procuring fruits, vegetables and grains is not the farmer that is benefitting  Fewer private players as clients from them. She then processes these out of this price rise,” adds Mathur. Transporters at a unit in Vikasnagar, Uttarakhand, “It would be one of the front-end  No drivers available and sells the produce via the KKW players in the supply chain.”  No stocks being transported, apart retail outlets. KKW is providing its Lack of labour during the lockdown from essential goods 3,500 farmers seeds and fertilisers is one big reason for the supply chain  Only 5% of business functioning in these tough times, says Agarwal. disruption. This has had a direct effect  Trucks being stopped at every “Their [farmers'] biggest fear is district border on both transportation and harvesting, who will buy their produce, since where mechanisation levels are Retailers logistics is not easy at the moment.” low. Workers are also needed at the The April 15 guidelines address  Stocks sold out, hence processing units and factories. need to shut down a lot of pain points of farmers.  Due to restricted However, Tiss’ Ramakumar warns, movement, excess stock CRITICAL PERIOD AHEAD rotting away “These [guidelines] maybe look For wheat merchant Umeshbhai good on paper. But there may be  Lack of labour 47 Radadiad of Junagadh-based Om multiple bottlenecks that arise in the Wheat Process, like wheat farmer supply chain at the ground level.” Tomar, these few months are He adds that the state governments extremely crucial. “Unfortunately, Rabi Crop Production (2019) need to fine-tune the guidelines as 2019 YOY growth our business is currently running at Commodity per their conditions, and iron out 25 percent capacity because instead new bottlenecks that arise every day. Wheat 102190 of a staff of 50 to 60 people, we For instance, in some parts of the Barley 1750 2.32% have only 10 people,” he explains, -1.74% country, like Mumbai, despite what reiterating that the farmers would be Millet 10700 the guidelines state, vegetable and 4.90% most affected. “They might sell their Milled Rice 115000 -1.22% fruit vendors continue to remain stock at whatever price they get.” shut due to the severe impact of 0 However, over the last few weeks the pandemic. Local authorities 20000 60000 40000 80000 120000 100000 farmers are finding ways to address Source IndexMundi Unit: 1000 MT also need to be in tune with the the lack of labour: By swapping labour, new guidelines. “For instance, if or getting workers from other non- Most of his truck drivers have gone trucks are full of goods then they are essential sectors like blacksmiths or back to their villages, fearing the allowed [into cities]. But once they relying on the migrant workers who pandemic. Vaghasia adds, “Even to unload the goods and go back empty, managed to leave the big cities. transport agricultural goods [that are they are stopped and harassed.” Transporters too, at the time of categorised as essential commodities], Getting the agri supply chain writing this article, were running we have to convince our drivers to moving again will go a long way in at minimal capacity in the absence go. We assure them of their safety the long haul journey of reviving of drivers, and not enough produce by providing them with sanitisers, the economy, particularly the rural ar

(except for essential commodities) to masks and gloves as precautionary part of it. These are, however, still w pa ferry. Parth Vaghasia, owner of the measures.” Vaghasia’s trucks are early days and eventually it is how

Junagadh-based Parel Transport, currently transporting essential goods much worse the pandemic will sameer says, “Currently we have two to to Delhi, Rajasthan and Maharashtra; get before it gets better that will c: four trucks moving as opposed to at each district border the drivers are determine the fortunes of the various raphi fog

40 to 50 trucks we had earlier.” stopped for checking. While Vaghasia links in the agri supply chain. in

may 8, 2020 • forbes india Pandemic Impact Doctors and nurses are pulling out all stops to treat Covid-19 patients, but some have been Ritesh Shukla / NurPhoto via Getty Images abused by neighbours

48 Warriors on the Frontline How doctors and nurses in hospitals along with assorted health activists and workers on the outside are taking on the Covid-19 crisis head-on and saving lives against all odds

By Naandika Tripathi

fter her shift ends at touch anything, her 15-year-old building gate; her husband is there 6 pm at KJ Somaiya daughter watches from a distance; to help, pressing the lift button to Hospital in Sion, her mother has told her that they take her home. Mini straightaway Mumbai, Mini enters cannot hug each other for some days. heads for a shower and sanitises her two-room home The 48-year-old nursing everything she carries from outside Aon the fifth floor of a seven-storey superintendent has set new rules —her uniform, cap and scarf. “Initially building in Kharghar, on the outskirts in the house; she lives alone in a it was difficult for us to cope with of Mumbai, some 30 km from the separate room and her routine has this new lifestyle, but we don’t have hospital, with tentative and cautious also changed. She doesn’t touch any other option. Not hugging my steps. As she ensures that she doesn’t anything once she walks through the daughter after returning from work

forbes india • may 8, 2020 health care

was hard to digest,” shrugs Mini, her duties. “The entire team whose responsibilities at work approaches me when they face any include delegating nurses to Covid- trouble; if I start crying in front of 19 patients and making sure that them, where will they go? On one the 90 nurses in her team are taking particular day I was so stressed all the precautions as suggested. that I couldn’t understand what KJ Somaiya is one of the many to do... I called up my mom and hospitals doubling up as isolation cried my heart out,” she says. That and quarantine centres for Covid- happened during the initial days of 19 patients. At the time of writing, the pandemic when Covid-19 patients the hospital had over 20 patients were new to the hospital staff. “I who tested positive; one died “PPE is in have overcome all of it now and am because of coronavirus. Mini and shortage, so getting stronger each day,” she adds. her team have been at it for 15 days As the number of deaths, new cases now. “Wearing personal protective we have to use and those testing positive for Covid- equipment (PPE) and a mask for long it judiciously… 19 burgeon by the day in Mumbai, hours is not easy. Plus it is getting working with hospitals are buckling under the virus hotter by the day. My team comes assault. In mid-April, Mumbai Mirror crying to me with dribbles of sweat the suit on and reported that at least 15 hospitals, trickling down their faces. I see the ensuring that you including Saifee, Wockhardt and exhaustion and pain in their eyes. don’t touch your Bhatia in Mumbai, had shut down But we don’t have an option. I keep after health staff contracted the virus. giving them rotational shifts so that face is a task in Dr Jeenam Shah, a consultant they’re not overloaded with work.” itself.” pulmonologist who would practice at Mini has her own moments of —————— these three city hospitals, describes despair, something that she has Dr Jeenam Shah the tribulations of those at the 49 learnt to hide when she performs consulting pulmonologist frontline. “PPE is in shortage, so we have to use it judiciously. Working with the suit on and ensuring that you don’t touch your face is a task in itself,” he says. What’s more, health workers point out that it becomes uncomfortable to move one’s face in the head mask that they have to wear. Those wearing spectacles have a bigger challenge when the glasses get foggy. “And, after wearing PPE, one cannot go to the washroom or eat; if you have to use the washroom, you have to discard everything,” adds Shah. As the novel coronavirus ploughs its destructive path, doctors and nurses leading the battle are not adequately armed and remain vulnerable. From Mumbai to Delhi, Indore, Chennai and Kolkata, among other cities, more and more frontline workers—an estimated 150 health workers at the time of writing—had tested positive. Mumbai is perhaps the worst off, with an estimated 100 health workers getting infected. Apart from shortages of PPE, hospitals

may 8, 2020 • forbes india Pandemic Impact

are being held responsible town in Sangli district of for alleged negligence in Maharashtra. The town had immediately isolating staff who already reported over two carried the virus and went on to dozen Covid-19 cases when spread it. Another reason more Asha workers were told to health workers got exposed conduct the survey. “Due to to the virus is that people hid the unavailability of masks, their travel or contact history. I wrapped a stole around my face while conducting THE AGONY… these surveys. I knew this Dr Shrikanth Srinivasan, was risky, but didn’t have any head of department, critical other option. The sarpanch care medicine, Manipal (village head) warned me not Hospital, Delhi, explains to step out of the house. My the doctor-patient dilemma: family also didn’t support me “The problematic part of this enough. But I fought with disease is that it has such varied everyone and did what I had presentations that one has to to do,” says Patil. The state be always alert to make sure government has instructed that they are dealing with all these Asha workers to patients with similar flu-like check for symptoms and illness with a high suspicion.” advised on precautions That, however, may not be to deal with Covid-19. easy as those being treated may have their own apprehensions, …AND THE ECSTACY 50 tempting them to not reveal It was a proud moment for their complete history and hide 32-year-old Ligin James, parts of it. “So during times Covid-unit in charge at like these, we have to make Global Hospital, Mumbai, sure that we don’t miss out on after the hospital managed taking any precautions,” adds “After getting into this to cure the very first patient Srinivasan, who was also at the situation, I realised the of coronavirus who didn’t forefront when swine flu broke have a travel history. After out in April 2009 in India. value of doctors and testing positive, the patient According to the Centre for nurses in our lives.” plunged into depression as Disease Dynamics, Economics the infection was completely & Policy, India has a shortage of —————— unexpected; he was Nimish Sheth, a patient who recovered about 6 lakh doctors and around from Covid-19 worried about his wife and 20 lakh nurses; the scarcity in children. “We continued supporting medical staff will with his treatment and he be correspondingly larger. That while the figure was 9,000 in the US. tested negative after 10 days... when means losing even a single doctor While doctors and nurses are we informed him that he will be or nurse due to lack of protective dealing with the lack of PPE, many discharged, the expression of joy on equipment or not following the Accredited Social Health Activist his face is something that I will never standard operating procedure in (Asha) workers who are also on forget in my lifetime. It was a fantastic handling Covid-19 cases is reason for the frontline of the Covid-19 battle moment for us. He sent a big thank alarm for the community as a whole. don’t have access to masks and you message. All of us were feeling so After all, don’t forget that countries gloves. Between her door-to-door good because he was our first patient like the US, Spain, Italy, China and visits, 40-year-old Urmila Patil asks with this virus and we cured him. This France, which have superior doctor- people if they have experienced any was a motivating factor to save more patient ratios, have failed to cope symptoms linked to Covid-19 or if such lives,” says James. He pauses for with the spread of Covid-19. As many they have guests from another state a moment and continues, “At times as 27,000 health care workers tested or country. Patil was asked to conduct I get frustrated because wearing the positive for coronavirus in Spain this health survey in Islampur, a small PPE equipment for seven hours on

forbes india • may 8, 2020 health care

the trot and staying inside the ICU her while she was leaving her is difficult. Once we wear the suit, house; after the video went viral, we cannot even use the washroom. the Surat police took strict action But we take it positively and keep and detained the neighbours. working because it is for our safety.” Panigrahi’s ordeal hopefully may Doctors, nurses and health care not be the norm. Dr Prashant Borade, workers are not the only ones fighting critical care consultant at Mumbai's the battle against coronavirus. Other Global Hospital, has been treating key workers who often go unnoticed Covid-19 patients for a month now. “I like the police, security guards, go home every day and take complete pilots, railway staff, utility workers “When he (a precautions so that my family and and garbage collectors continue patient who got people in the surroundings are to work to ensure there’s little safe. I’m not facing any issues in my disruption during the lockdown. infected) tested neighbourhood. In fact my neighbours Experts say the country’s health negative twice and others in the society seek advice care system is not prepared to cope and we informed from me about the precautions the with a massive outbreak. After all, society should take to be safe around 130 million people will head him that he will be from this virus. It's all about to hospitals even if 10 percent discharged, the communicating and making of India’s population is infected. joy on his face is people understand what the virus According to the Organisation is all about, and what precautions for Economic Co-operation and something I will we (doctors) are taking. This Development, India has only 0.5 never forget in my makes things easier,” he says. hospital beds per 1,000 people, one lifetime.” Borade adds that today, the country of the lowest ratios in the world. is a battlefield and the only warriors Containing the outbreak with a —————— are the health workers. “People have 51 Ligin James nationwide lockdown and social Covid unit in charge, started giving us more respect for distancing will play a major role in Global Hospital, Mumbai what we are doing and that gives flattening the curve. Cases in India us the motivation and energy to have drastically shot up in recent days carry on,” he says. Will that persist and these workers are on the ground are dealing with social ostracism and once the pandemic blows over? to ensure people follow the rules so harassment. Dr Sanjivani Panigrahi Dr Om Shrivastava, infectious that they can be safe and sound. is one of those to have been at the diseases specialist at Jaslok Hospital, Nimish Sheth, 57, who recently receiving end. She works at Surat Civil suggests that people need to become recovered from Covid-19 couldn’t Hospital where coronavirus patients more responsible once the pandemic stop praising the health workers who are being treated, but is not deployed subsides. “This is not the first treated him at Wockhardt Hospital in the Covid-19 ward. The 34-year- epidemic that we are seeing, and in Mumbai. Sheth tested positive old doctor was recently physically it is not going to be the last. I think in March-end after returning from attacked and verbally abused by her our way of life will have to change the US. “The doctors and nurses are neighbours in front of her three-year- from now on... we cannot continue our real heroes during this time. My old son. “My neighbours thought I with the kind of lifestyle that we family and I were going through a have coronavirus just because I go were following. I think it's also tough time, but these health workers to hospital every day. They asked important for the policymakers and made sure that our mental health is me to stop going to the hospital and decision makers in any country to sound and stable, and gave proper warned that they will bar my entry prepare the infrastructure to combat counselling. It was my birthday while in the building otherwise. After this kind of a situation because I was being treated and the medical constant mental torture from my all outcomes will depend on what staff got me a cupcake to make me neighbourhood, I tweeted the entire the public health infrastructure feel special. These are small things, incident, tagging all government is in that country,” he says. but they really matter... after getting officials. Thanks to social media, our Shrivastava uses a war metaphor into this situation I realised the value local BJP MLA connected with me to describe the level of readiness of doctors and nurses in our lives.” and immediately sent the police for required. “The more you sweat in However, despite their noble help,” she says. Panigrahi posted a peace, the less you bleed in war. It deeds, several health care workers video of her neighbours attacking is important to be prepared.”

may 8, 2020 • forbes india Pandemic Impact In The Line Of Fire With a broken supply chain and inadequate stocks, health care workers face an acute shortage of protective gear and the risk of contracting coronavirus

By Pranit Sarda

hese are unprecedented ostracisation, it has been an uphill and Spain—some of the hardest hit times for those at the task in these stressful times (See by the pandemic—have protested forefront of the battle 'A Dispatch From A Hospital'). against the lack of PPEs, taking to against the coronavirus. The acute shortage of PPE for the streets and to social media. A doctor at a government health care workers is a global issue. With at least three health care Thospital in Kolkata laments the Reports have emerged of extreme workers succumbing to Covid- conditions in which health care cases in India where nurses and 19 in India, and at least 80 more personnel have to work during the health care workers were forced testing positive as of April 12, the pandemic. From using raincoats as to use motorcycle helmets as question remains as to whether they personnel protective equipment (PPE) protective clothing, while others are are being provided with adequate to being told to buy masks themselves compelled to use scarves to cover PPEs. Normally, PPEs are used in at exorbitant rates, and from dealing their faces in the absence of masks. hospitals for surgeries and for treating with the fear of contracting the virus Doctors and health care workers infectious diseases. But now they are as they treat patients to facing social in countries such as the US, Italy a necessity for all heath care workers, 52

imes via G ett y I mages T imes / Hindustan Kumar Yogendra The shortage of PPE for health care workers is a global issue. In India, they have had to use raincoats and scarves in the absence of masks

forbes india • may 8, 2020 PPEs

including those who are conducting expressed their inability to supply door-to-door checks for people with on account of a complete glut in symptoms of Covid-19 infection. stocks and ban of exports by the Utkarsh Sinha, managing director source countries. Only a limited at Bexley Advisors, a boutique quantity was offered and procured investment bank, says, “It is easy to by the procurement organisation have the benefit of a 20:20 hindsight, of the ministry of health and but the sad truth is that our health family welfare (MoHFW).” care infrastructure is stressed, and On January 31, India banned has been for a while. We simply export of all PPEs to ensure enough lack the capacity for providing stocks for use within the country, but adequate care at scale. That said, “We had material on February 8 the ban was revoked there is little more the establishment stranded in on everything except coveralls and could have done to ensure equitable N95 masks. Rajat Garg, co-founder access in this situation.” various parts... of myUpchar, a Delhi-based online According to media reports, by there were health service platform, says between June, India will need 27 million N95 challenges in February 8 and March 19, however, masks and 15 million PPEs, which when the ban was reimposed, Indian include face shields and goggles accessing raw manufacturers exported a large (which are reusable), triple layered materials from amount of PPEs, since at that time medical masks and N95 respirator suppliers who the number of infections in India masks (both reusable until soiled), was low and Indian manufacturers gloves, coveralls and gowns, shoe were unable to wanted to earn high profits. This covers and head covers (all non- work.” led to the existing stock of PPEs in reusable). The demand far exceeds —————— the country being greatly reduced. supply, which has been hit by the Ramesh Ramadurai “A lot of large hospitals have bought 53 lockdown that has been imposed in managing director, 3M India PPE kits for doctors, but not for the several countries around the world, technical staff and nurses. These especially those, such as South Korea, hospitals are asking staff members Singapore and China, from where On March 23, the ministry of to buy PPEs themselves. In smaller India imports PPEs. Procurement of textiles said in a statement, “Such hospitals, even doctors are being asked raw material has become difficult, materials [that fulfil the technical to buy them themselves,” says Garg. as has the movement of goods and standard requirements for The government has also rationed the from one country to another, and coveralls] are manufactured by a distribution of PPEs among health even within the same country. few international companies, who care workers, depending on whether

A Dispatch From A Hospital am a doctor at a government hospital in There were social media articles on what was the same one. Kolkata and I deal with coronavirus happening in China... we didn’t know whether Recently, a postgraduate trainee resident I positive patients, although I don’t get in our government had procured PPE kits or not. doctor who was posted in an isolation ward direct contact with them. Keeping my When cases started surfacing in India, we was given a raincoat to protect himself. identity anonymous is important; recently, I were able to get N95 and surgical masks. When he refused to use it, the ward had to be came to know about a doctor who had This was before the lockdown was closed for three days until supplies arrived. written on social media about raincoats announced. But there was no mention of Since I am in the department of medicine, being provided as personal protective PPEs at my hospital. Doctors of only one all we received from the hospital was a equipment (PPE) and had to face a lot of hospital in Kolkata were using PPE kits. single-layered surgical mask. So I had to legal and police troubles. Even until a few The government guideline indicates that purchase an N95 mask for myself, paying days ago, doctors were using raincoats high-risk workers should get full PPE kits, much more than the MRP. This was because instead of PPEs after some doctors moderate-risk workers should get N95 masks no proper protocol was being followed. The suggested that they will work. But that isn’t and gloves, and low-risk health care workers situation got to a point when we had to write the case, since PPEs have certain standards should get triple-layered masks and optional a letter to the authorities, saying we won’t and quality, which obviously isn’t the case gloves. The guidelines say each mask can be work until we are equipped with proper with raincoats. worn for eight hours, but due to the shortage, masks and PPEs. Now, we are receiving PPEs In the initial stages of coronavirus—when we were using the same mask for a 12-hour at least in the isolation wards after putting it still wasn’t declared a pandemic—we were shift. There were also instances when we pressure on the authorities. not even aware of what needs to be done. were not getting new masks and had to use (As told to Pranit Sarda)

may 8, 2020 • forbes india Pandemic Impact PPEs

they fall in the categories of high output of alcohol-based santiser has risk, moderate risk and low risk. THE PPE CRISIS also increased by 50 percent. “When Hospitals have seen a fall in the lockdown was announced, we revenue as the volume of surgeries, had material stranded in various pathological tests and sale of parts of the country; there were medicines have fallen. Hence, challenges in accessing raw materials they are not keen on spending from suppliers who were unable to additional money on PPEs. In 387,473 work; clearances of imports were some cases, NGOs are supporting PPE kits available delayed. It was also difficult to arrange hospitals by providing them with in India for transportation for our plant PPE kits, as and when required. 1.7 crore employees,” says Ramesh Ramadurai, Garg adds that most vendors Orders placed managing director, 3M India, which for PPEs who provide PPE kits in India take (as of April 9) has plants in Pune, Bengaluru minimum orders of 500 to 1,000 kits. 2.94 lakh and Ahmedabad, and imports While this is not a problem for large PPE kits arranged materials from global subsidiaries. and supplied by the hospitals, smaller hospitals and those government “The major challenge we continue in Tier II and III cities don’t need so (as of April 6) to face is the lack of international many PPE kits. However, they can’t 39 flights and freighters to move Domestic place orders of smaller size. myUpchar manufacturers of PPEs materials, but by and large we is working with vendors to ensure (as of April 10) have not had too many problems supply of orders of five to 10 PPE 80 lakh with the import of materials that kits, although the cost for smaller Orders for PPE kits, support manufacture of masks including N95 masks, orders is higher than for bulk orders. placed with a Singapore- and sanitisers,” he adds. based online platform With a broken supply chain, “there Also, players in related industries is a lot of unpredictability where input 60 lakh and technologies are adapting PPE kits for which 54 costs are concerned”, says Sinha, thus negotiations are on existing infrastructure for the pushing up retail prices. Garg says with China purpose of making PPEs. For the retail price of a PPE kit is usually instance, while coveralls are being `400 to `500, but now manufacturers made by textile hubs in Punjab, are selling them for between `1,100 Gujarat and South India, face and `1,200, while retail prices are shields are being made using 3D between `1,500 and `2,000. “With printing technology by companies low volume, suppliers are not ready to like the Mahindra Group, 3Ding

give you big profit margins,” he adds. Source Ministry of health and family welfare and Groundup Technology. Sinha of Bexley Advisors says, “Several medium and small “It is in the larger interest of the have increased their production manufacturing enterprises are community that there is centralised capacities. For instance, 3M, one working to refocus their capabilities coordination on the procurement of the leading manufacturers of to respond to the crises,” says and adequate distribution of PPEs.” respirators, masks and PPE kits in Sinha. “We are working with To make up for the shortfall in India, is producing about 40 percent several; some have repurposed supply, PPE manufacturers in India more than its normal capacity; its their garment manufacturing lines to create PPEs and masks, while others are realigning their “Some hospitals manufacturing capabilities to create ventilators.” For instance, are asking AgVa Healthcare is partnering with staff members, Maruti Suzuki India, and Skanray including doctors, Technologies with BEL to make ventilators. Detel, an electronic to buy PPEs brand that makes budget mobile themselves.” phones and televisions, has launched —————— a sub-brand called DetelPro to Rajat Garg, make affordable PPE kits. ● ic: sameer pawar h ic: sameer infograp co-founder of myUpchar Additional inputs from Naini Thaker

forbes india • may 8, 2020 rapid testing A Testing Race Against Time After a slow start, will India’s efforts to ramp up testing for Sars Cov2 be quick enough?

By Samar Srivastava and Namrata Sahoo

ntil March 20, the The strict testing definition for later. With a testing criteria narrowly only way to get tested a virus that had been declared a restricted to foreign travel, it’s hardly for Sars Cov2 in India pandemic masked the crucial lack of surprising that India had conducted was if you’d travelled testing capacity. In order to get tested, only 13,316 tests by March 20 with 236 abroad or come in one had to report to a government testing positive. During March, which Ucontact with someone who had and facility and have nasal or throat swabs would later turn out to be a crucial reported a fever, cough or difficulty taken. They were sent to the National month, scores of travellers with in breathing. And even then it was Institute of Virology in Pune and flu-like symptoms slipped through. incredibly hard to get tested. results were made available two days By then the speed of the virus’

55 ages m I tty e G a

In India, phone booth or kiosk testing is being actively explored to contain the spread of cornavirus. Kiosks were installed at Ernakulam Medical

College in Kerala on April 6 / AFP vi CHANDRABOSE ARUN

may 8, 2020 • forbes india Pandemic Impact

spread had taken the world by Laboratories (NABL) and finally surprise. Just like in India, the initial private diagnostics laboratories. At low infection rates in Italy, Spain, the the time of writing in mid-April, there UK and US had lulled governments were 166 government and 70 private into a false sense of calm. “It was the laboratories approved by ICMR. virulent nature coupled with the long But opening up the number of incubation period that allowed the laboratories was only half the battle. virus to spread unhindered,” says Dr There were two other issues that Harish Mahajan, chairman, Center would slow testing. The first was for Advanced Research in Imaging, sample collection. Given the highly Neuroscience and Genomics. This contagious nature of the virus, was unlike Sars, which took three lobotomists had to necessarily wear days to incubate, making it was personal protective equipment (PPE) easier to isolate infected people. suits, which were in short supply. While the government has The swabs had to be transported steadfastly maintained that the lack of “The key in refrigerated containers to avoid testing capacity is not to blame for its advantage of contamination and be tested only decision to restrict the initial rounds in biosafety level 2 laboratories. of testing, interviews with people who [antibody] tests is “These restrictions mean that run laboratories and make testing kits that they can be there are only a limited number of suggest that crucial time was lost in deployed rapidly laboratories in India that can run the February and early March. Had larger tests,” says Arunima Patel, founder of numbers been tested (along with and you don’t iGenetic, which has received ICMR stricter quarantines for international need an expert approval to test for Sars Cov2. She travellers), isolation decisions could to interpret advocates loosening the restrictions. 56 have been taken earlier. “Our (and To avoid the risk of infection (and the world’s) biggest problem was the results.” contamination) for the person that we didn’t have a model to follow —————— collecting samples, innovations and so we had to make things up as Rln Kai as ath, like phone booth testing and drive- we went along,” says the founder m anaging director, CPC Diagnostics through testing have been tried out. of a company that has recently In India, the phone booth or kiosk received approval for testing kits. testing is being actively explored. In a situation where every day early days in understanding the virus; Kiosks were installed at Ernakulam makes a difference in the infection Wuhan had only been locked down Medical College on April 6. curve, the steps taken by the Indian a week earlier. The Indian response Second, the reagents needed to Council for Medical Research was limited to cancelling visas of run the tests arrived slowly. Here’s (ICMR) were incremental. As a result, Chinese nationals. Over the course how the process works. The swabs laboratories are still struggling to of the next 45 days, airports carried collected are put through a thermal get testing kits and deploy them and, out limited screening on incoming cycler also known as a PCR machine. while rapid antibody tests have been passengers. Samples of suspected Through a process known as reverse approved, the earliest deployment is at cases were sent for testing to Pune. transcriptase polymerase chain least a fortnight to a month away. “Our That changed on March 20 when reaction (RTPCR), they amplify aim is to first stop transmission and the speed and geographical spread the DNA to check for the virus—a flatten the curve,” says Dr Rajni Kant, of the virus increased. In a series of process that takes at least six hours. director, planning and coordination, steps, the government progressively PCR machines in laboratories ICMR, pointing to the fact that its widened the definition of 'would be across the country needed reagents containment strategy hasn’t worked. tested' and worked on increasing to check for the virus. These were in the number of testing laboratories. short supply. The initial supply was Testing Infrastructure First, laboratories in state capitals by the government, but the delay in The first reported case of the Sars were brought in, then district granting approval to reagents made by Cov2 virus on Indian shores was government hospitals, then private private companies meant that private on January 31 when three students hospitals with laboratories accredited hospitals and laboratories were not returning from its epicentre Wuhan to the National Accreditation able to offer the tests till the first week tested positive in Kerala. These were Board for Testing and Calibration of April. Even then, they had to rely on

forbes india • may 8, 2020 rapid testing

imports that are also in short supply. a person, the test would produce Two private diagnostic companies a false negative and they would and one supplier of reagents told slip through. Recognising this, the Forbes India that they are only ICMR has mandated confirmatory processing between 100 and 200 PCR tests for positive cases, but samples a day. Netmeds, an online advises them also for negative pharmacy, has tied up with private cases where there is suspicion. laboratories. “The response has Where the antibody tests score been slow partly on account of are in hotpots, allowing civic bodies the costs,” says Jugal Anchalia, to test large number of people vice president, strategy and new quickly and make an assessment initiatives at Netmeds. That is “My estimate is about the percentage infection unlikely to change as a recent that processing levels in a certain area. The lower Supreme Court order has asked 100,000 samples accuracy is compensated for by the private laboratories to provide free ease and speed of testing. “We plan testing only for those eligible under a day should soon to conduct antibody tests to check the Ayushman Bharat health plan. be possible.” the proliferation of the virus and The staggering of approvals for —————— also to identify obvious suspects,” laboratories and companies that Cha andr sekhar Nair, says Kiran Dighavkar, assistant supply the reagents has meant chief technical officer, Molbio commissioner at the Brihanmumbai that India’s testing capacity is still Municipal Corporation. State woefully short and will take at least governments plan to roll these four weeks to expand. The total stock tests out in the next month with of PCR machines in the country can Low Testing Rajasthan and Tamil Nadu placing process 35,000-40,000 samples a day. orders for 100,000-300,000 tests. Private companies are working to Numbers As the race to contain the virus 57 increase that number. “My estimate continues, the real use of antibody is that processing 100,000 samples n Restrictive testing criteria in the tests is likely to come between six initial days a day soon should be possible,” says and 12 months from now. Once a n Stage-wise approvals to laboratories Chandrasekhar Nair, chief technical to test substantial portion of the population officer of Molbio Diagnostics, that gets infected and recovers, they’d n Private companies supplying received approval for its point of reagents approved only on April 2 develop antibodies and would be care PCR platform for testing for n Total testing capacity in India better prepared to handle a second Sars Cov2. In the meantime, some estimated at 35,000-40,000 per day wave of infections. (An important workarounds are being explored. n Rapid antibody tests could provide caveat is that we don’t know if and Samples from areas that have low an effective screening solution how the virus will mutate over the positivity rates are being pooled. Up course of the year.) At that point, to five samples from such areas can rapid testing through point of care be tested at one go. On April 12, the perform and interpret results,” says antibody kits would allow people last date for which data is available, R Kailasnath, managing director at to check for immunity. Think of India tested 16,002 samples a day, CPC Diagnostics, which has received these as point of care tests like a up from 4,346 on March 30. IMCR approval for its antibody tests. diabetes test or a pregnancy test Here’s how they work. A person that could be done at home. Antibody tests infected with Sars Cov2 would Testing quickly for antibodies With the limitation in testing capacity start producing antigens to develop could allow authorities to make quick apparent, the ICMR on April 4 antibodies to the virus. These tests decisions on when to open up or approved antibody tests on anyone have been used successfully for shut down areas as well as allowing showing ‘influenza like illness’. other viruses like dengue and individuals back at workplaces and These serological tests work on a measles, but with Sars Cov2, the in crowded places. These testing kits, blood sample drawn intravenously. long incubation period introduces which may work with just a finger Results are available in 30 minutes. a complication. A person may be prick test are under development “The key advantage of these tests asymptomatic and say five days after and could hold the key to living with is that they can be deployed rapidly being infected, has still not started the virus as well as being prepared if and you don’t need an expert to producing an antibody. For such and when the next one strikes.

may 8, 2020 • forbes india Pandemic Impact Crank-up Time How to get the manufacturing and MSME sector that has ground to a halt during the lockdown moving

By Pooja Sarkar

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illustrations: sameer pawar

forbes india • may 8, 2020 How to get Industry reviving industry Going Again

s the clock strikes 8 of work. It says toll collections in the morning, the won’t start anytime soon. blare of the hooter Mhaiskar believes once the is a common feature lockdown is lifted, activity should start in factories across within 15-30 days, but it will take time Aindustrial townships. But with the to repair the working capital cycle of nationwide lockdown, the hooter has infrastructure companies. “Cash flow fallen silent as factories across the is being preserved and used for better country have come to a standstill. work. The key demand we have made As have the cash flows. is that we require a loan moratorium The coronavirus outbreak couldn’t for one more quarter as our working have hit the country at a worse capital cycle is now stretched,” he says. time. India’s GDP decelerated to  Respective banks must provide moratorium While road companies may get approvals. In many cases, companies are yet to be compensated by the government, other its lowest in over six years during informed on their approvals the third quarter of 2019-20. In sectors don’t have such fallbacks.  Provide sanitation, health care and accommodation January, the International Monetary to labourers on construction sites Down south, airports to power Fund (IMF) cut its global outlook to roads developer GVK Group is  Companies want major injection of capital in the citing slowing growth and India hands of their workers from the government grappling with various challenges. contributed a lion’s share—80  Honour government contracts and make On March 25, the road ministry percent—to the downward revision. payments to contractors; pay pending dues exempted toll collections across the Now, the impact of the lockdown  Announce relief package for industries, especially country affecting toll-road companies, is only set to make things worse. to ease working capital issues including GVK. The company is also “There is not an iota of doubt facing revenue compression as airports that this kind of lockdown will have Holding Ltd’s rating to B3 from B2 are closed. The group continues to a profound impact. The ones that as well as placed it under review for operate two power projects—one are less affected are food, fertiliser, further downgrade. The report says in Uttarakhand, which supplies 59 information technology or those in given the market situation, an upgrade power to Uttar Pradesh, and the which work can happen from home, in ratings is unlikely in the near term. other in Punjab while its other two but sectors like steel, infrastructure, Back in Mumbai, Virendra gas-based power plants are unable cement have come to a complete Mhaiskar, chairman and managing to fire due to unavailability of gas. halt,” says Ravi Uppal, chairman director of highway construction firm “It will take enough and more to and managing director at Steel IRB Infrastructure, says, “As a result bring things back to normal and we Infra Solutions Pvt Ltd (SISCOL). of the lockdown, our construction can only wait and watch. Everyone Uppal, who has previously headed of highway projects has come to a can’t work from home (WFH) as in companies like ABB India and Larsen standstill and toll collections have these sectors there is limited amount & Toubro, now runs five factories been suspended by the government, of WFH, where we are making around Bhilai, an industrial township but we have a regulated concession presentations for banks, NHAI in Chattisgarh—known as the Indian agreement with NHAI.” It is also and AAI asking for moratorium,” steel manufacturing belt. He believes seeking relief under force majeure says A Isaac George, director and that the cash flow crunch will of concession agreements. chief financial officer at GVK. adversely kickstart a chain reaction. Mhaiskar cites the cash While cash flows have dried up “There is no activity after the first compensation paid by NHAI during for almost every core infrastructure 10 days of March, we are saddled demonetisation in 2016 when activity firm, some of the payments for with inventory and the whole value is had come to a standstill. “It will be the operations and maintenance locked in. It is the same with everyone; same compensation is my guess. As an are mandatory to be paid. if you don’t supply, you don’t get industry, it can calculate the average “The toll road is a cash-and-carry paid, if you don’t get paid, you can’t transactions till lockdown and cash business… while it is not generating pay your vendors,” says Uppal. compensate those losses,” he adds. revenues, there are still fixed expenses Ratings agency Moody’s investor IRB Infrastructure, which also that need to be met, including payment service, on April 15 placed Tata Steel has a listed infrastructure investment of wages. There is a working capital Ltd’s Ba2 corporate family rating trust (InvIT), is hoping to restart sanction for airports and we will under review for downgrade and construction from April 20 by dip into it,” George explains. The has downgraded Tata Steel’s wholly writing to the district collectors company is trying to structure salaries owned subsidiary Tata Steel UK for permission for commencement for its senior staff with a deferral of

may 8, 2020 • forbes india Pandemic Impact The Driving Forces reviving industry Sector Contribution Contribution to to GDP (in %) Employment (mln) payments, while junior employees will Apparel and 2 45 One of the biggest segments textiles be kept out of any payment delays. in India is that of MSMEs, which Automobiles 7.1 40 According to an IMF note on April employs nearly 114 million people Auto 2.3 NA 16, the global economy is expected Components and contributes nearly 30-35 percent to contract in 2020 by 3 percent, a of the GDP. Forty-nine percent of Aviation and $72 billion 8 downgrade of 6.3 percentage points tourism the MSMEs are in rural areas and from January and a major revision Tourism 9.2 42.7 the rest in urban localities. A study over a short period. This makes the Consumer, 10 NA by the All India Manufacturers’ Great Lockdown the worst recession retail and Organisation estimates that about a internet since the Great Depression, and far quarter of the MSMEs in India will 30-35 114 worse than the 2008 global financial MSME face closure if the lockdown due to Transport 14 8.27 crisis. Growth in Asia is expected and logistics COVID- 19 goes beyond four weeks. to stall to 0 percent in 2020. This figure is estimated to touch a Metals and 2.4 NA Three other sectors that have been mining whopping 43 percent if the situation

heavily impacted are automobiles Source KPMG report extends beyond eight weeks. and auto components, real estate, and As Saurabh Mukherjea of small and medium enterprises. Real Marcellus Investment Group points estate has been down in the dumps components sector, which contributes out, 91 percent of Indians work in since the fall of shadow banking firm nearly 9.4 percent to the GDP, has set-ups of less than 10 employees ILFS in 2018, and residential real been witnessing a steady fall in sales and with an operating margin of estate-focussed developers are now over the last year and the pandemic nearly 10 percent. “If they have to facing the challenge of negligible sales. is now bringing it to its knees. shut down for one month of the With employers seeking a downward “The mortality rate of a lot of year, their margin for the entire revision of rents, the commercial MSMEs in the automotive sector will year is wiped out. So they will cut property sector, too, is set to see lease be high as there is a lack of working costs and try to survive,” he says. 60 rentals fall over the next few quarters. capital. A lot of effort is required by Mukherjea also believes that In a lot of cases, retailers are calling banks to start giving capital to these sectors like real estate, tourism, for force majeure in their contracts sectors and in this backdrop, recovery leisure and hospitality, which are as they are hit hard by lack of sales. will be a huge challenge,” says Uppal. highly leveraged and are witnessing While in India, malls had seen their Auto sales for March were down stress in cash flow, will face fair share of rental compression by 50 percent and a lot of auto challenges. But this situation will during the 2008 crisis, contracts original equipment manufacturers also work as a cleanser for companies have evolved over the decade in the will be forced to delay launches as facing existential challenges. form of minimum guarantees, rent consumers are expected to cut down With the lockdown, core sharing agreements and relaxed on discretionary expenses. Sunil infrastructure and heavy industries common area maintenance charges. Kant Munjal, author of The Making firms are also finding it difficult to “The current crisis is in a way of Hero, says this is the second time communicate with their employees revisiting the financial crisis, but since Emergency that the Hero Group in far-flung areas. With daily wage during that time there was no (the Hero Cycles business) had shut labourers rushing back home or shutdown and it had to be dealt with down. “Our culture remains the same stranded at borders as they try on a financial basis. It is a different across group companies—we are to make their way home, India ball game now because you have no focussed on planning and forecasting, is set to face labour challenges topline but certain fixed costs that and the teams have a high ability in the coming months. you have to pay, so we all have to to execute. Two weeks before the Until then, it is imperative for work together to find a solution. It shutdown, we started having half the government to step in. “As can’t be a one-sided approach,” says the people work from home. So we governments in the US, Germany Manoj K Agarwal, chief executive had set up process and protocols to and France have extended support, officer at Viviana Mall in Thane. WFH and literally three days before India too needs to think about Agarwal adds that these the shutdown, I had written a letter providing cash support to the negotiations can’t happen over to all our team members telling them manufacturing sector. The wages phone. He says if economic to work from home. We were a little in the manufacturing sector are activity restarts in 2-3 months, the better prepared as we are doing around 10-12 percent of the costs situation will not be as gloomy. morning calls, afternoon meetings and direct cash support is needed for The automobiles and auto and evening reviews in these times.” payment to workers,” says Uppal.

forbes india • may 8, 2020 education & placements

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Up in the Air As top companies defer and revoke job offers, IITs and business schools work hard to help find placements, move online

By Manu Balachandran

may 8, 2020 • forbes india Pandemic Impact

aran Birpali, a final year pandemic and the extreme decline due to the Covid-19 crisis. Already, biotechnology student in oil price. In this environment, it for the first time perhaps, India at IIT Delhi, has secured has become increasingly difficult to has a zero percent Gross Domestic a job with one of India’s provide students with valuable work Product (GDP) forecast—Barclays largest hospitality experience or job opportunities. We emerging markets research on April Kcompanies. He was to join in June have, therefore, taken the difficult 14 cut India’s calendar year 2020 GDP but with the Covid-19 pandemic decision to adjust our job offers in forecast to 0.0 from 2.5 percent earlier. hitting the country, the date has line with business activity. This IIT Delhi and the other 22 IITs been pushed to August/September. means that, due to the challenging in the country, are now planning a Birpali is one of the lucky ones. conditions in which we find special recruitment drive, as endorsed Vidushi Toshniwal, a civil engineering ourselves, we have been forced to by human resource development graduate at IIT Delhi wrote on her reduce and withdraw internships minister Ramesh Pokhriyal, to help LinkedIn profile on April 8. “I am and graduate job opportunities at those whose jobs have been rescinded. a final year B.Tech student from this time,” says Joao Felix, director In addition, the IITs have also set up IIT Delhi (2016-20). I secured a of corporate communications at a task force to look after the mental job offer from a US-based leading Schlumberger in an email response. health of the students in the institutes. global market in oilfield services as Gartner had not responded “Even though my job hasn’t been a Junior Field Engineer. However, to queries from Forbes India at revoked there is a lot of uncertainty due to the ongoing Covid-19 crisis the time of going to press. at the moment,” says Shreya Johri, and some changes in the company's Companies like Google too are a final year biotechnology student policies, the firm has decided looking to slow down the pace of at IIT Delhi. “I have a job offer in to rescind all the job offers.” hiring. In a memo on April 15, CEO the US and my date of joining is in the first week of August. However, there are concerns about visas. In Due to Covid-19, companies that had addition, our course has now been 62 extended to July end. All of that adds flocked to India's top institutions to the confusion and lack of clarity.” to hire talent are now reassessing IIT Delhi had sent its students on their options leave ahead of the lockdown, and will now start the final leg of the —————— courses between June and July after Birpali adds that in as many as Sundar Pichai highlighted areas for which examinations will be held. 10 cases, offers were revoked and cost-cutting and recalibration. "We Not just jobs, internships that were the institution is now working hard believe now is the time to significantly meted out frequently to undergraduate to find jobs for those who have slow down the pace of hiring, while students, and were used as a platform lost out. “They have set up a new maintaining momentum in a small for future hiring in companies, seem portal for the same,” he says. number of strategic areas where to be on hold. “Summer internships As the Covid-19 pandemic sends users and businesses rely on Google are critical because they provide a ripples across the world, both on for ongoing support, and where our whole lot of experience, particularly the health care and economic front, growth is critical to their success. By global experience and also an companies that had flocked to India’s dialing back our plans in other areas, opportunity for job placements later,” top institutions just a few months we can ensure Google emerges from says Aurobindo Saxena, former head ago to hire talent, have been taking this year at a more appropriate size of education practice at Technopak a serious relook at their options. and scale than we would otherwise. Advisors, and an education consultant. Already, research firm Gartner has That means we need to carefully “But, these are unprecedented withdrawn offers that it extended to prioritise hiring employees who times, and many sectors are students at various IITs for the year. will address our greatest user and already feeling the squeeze.” Besides, others such as Texas-based business needs. Your leads will be Where jobs have materialised, Schlumberger, it is learnt, have also in touch with you about how this adjustments and even pay cuts have informed authorities that they will will work for your team," he wrote. been made in view of the lockdown not be able to honour their offers. The decisions by the companies and the crisis. Rishika Jain (name “Schlumberger’s activity and come at a time when India is in the changed), who graduated from the outlook has been severely impacted by middle of a 40-day countrywide Indian School of Business (ISB) and two unforeseen events: The Covid-19 lockdown that started on March 25 has joined her place of work through

forbes india • may 8, 2020 education & placements

an online onboarding programme, during the ongoing situation, Indian economy comes back strongly.” was to earlier join in a different city. companies have reportedly been SP Jain School of Global Considering the travel restrictions, resorting to layoffs as business Management has also been seeing a she has for now been offered the role becomes difficult. Across sectors, sales positive inflow. “With the markets in New Delhi, where she resides. have floundered, and businesses are in US and Europe hit hard, we are “Since I can’t travel, they have also likely to take a long time to recover. seeing a positive inflow,” Nitish Jain, given the option of joining the local “We have to adjust to the new president of SP Jain School of Global office, if the lockdown is extended normal,” says Ramaswamy. “The west, Management says. “Students who further.” Though she did not have to which had been proudly presenting were looking to study in the US are take a pay cut, other classmates have itself as an open world, has begun to now looking for options closer home. been asked to take pay cuts of over 20 look inwards. They are likely to hire And if we can provide premium percent even before joining, she says. more people from their own countries education online, it will help bring The company that Joseph Mathew as they look at a more protectionist about a generational shift in the way (name changed) was supposed to regime post the Covid-19 crisis.” we see education. Until work from join does not have the necessary Students are also having to defer home became the norm, nobody gave infrastructure for online onboarding higher studies due to the uncertainty. it much attention. That’s similarly so his joining date has been pushed to Varuni Sarwal, who is to join the the case in education where online December this year. The ISB graduate, University of California, Los Angeles experience will find many takers.” who has landed a job with one of (UCLA) for her PhD in Computer Saxena adds that this is also India’s many ecommmerce companies, Science is unsure about joining in a good time to recalibrate the has decided to use the delay to upskill September. “The visa offices are education system in India. “We himself. “ISB has been proactively closed, and the website suggests that have been overproducing engineers pursuing recruiters to follow up the latest I can get an appointment for and management graduates but "Classrooms and schools will see a massive shift once social distancing becomes the norm. It's all about going digital." 63 —————— on placements. So far, we have not a visa is in October,” Sarwal says. “In what the country truly needs are had any cancellations,” he says. these times of uncertainty, I can only people across other sectors. With Institutions have been doing their consider a deferred admission and join foreign MNCs unlikely to look for bit. “We all understand that these are in spring instead of the fall season.” people outside their regions, it is difficult times,” IIT Delhi Director, Institutes like Boston University have an opportunity for India to take a V Ramgopal Rao, wrote on Facebook already said they are likely to reopen relook at the education sector.” soon after offers were revoked. their campus only by January 2021. According to the All India “But please be considerate to The move is towards digital and Survey of Higher Education by keep your promises. A few months in some cases, closer home. “People the Ministry of Human Resource of delay may be fine. Please do not assume the education sector isn’t Development, India had 32.9 lakh complicate the lives of these brightest likely to be affected by a recession,” students graduating in the arts, children in an already complex says Ramaswamy. “Classrooms in commerce, science and humanities environment. If at all, they are schools will see a massive shift once streams in 2019. Engineering and capable of getting you out of recession social distancing becomes the norm. MBA graduates accounted for faster than you can imagine.” It is all about going digital now.” around 16 lakh graduates last year. However, Narayanan Ramaswamy, OP Jindal Global University Then there is the massive head of education practices at has moved its entire teaching educational loan sector, which could KPMG, says that the crisis at IITs module to an online platform to see some impact. “Many students and IIMs “has been been rather allow students to take classes start repaying the loans once they are one-sided”. “When there are no online. “We all have to recognise placed with a company. But when jobs offices open and layoffs are taking the extraordinary circumstances," are revoked or delayed, then there place around the country, what says Dr C Rajkumar, founding vice- certainly will be some constraints in can the industry do?” he says. chancellor of the university. "There paying back," says Saxena. "Globally Although the government has is no better time to go back to the too, this is expected to become a asked companies to retain staff universities and study before the major cause of concern.”

may 8, 2020 • forbes india Pandemic Impact

Getty Images / iStockphoto

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Cloud Cover From supporting work-from-home now to strategising for their customers’ long-term shift to cloud-based models, large technology companies see many opportunities amid the pandemic

By Harichandan Arakali

hen the national the safety of their homes, it entailed Since the outbreak, networking lockdown was a move to cloud-based systems. tech provider Cisco has been announced in While the initial rush was to working closely with its customers, the wake of establish the communications systems partners and the industry, says Daisy the Covid-19 and the remote working capability Chittilapilly, managing director, digital Wpandemic, some of the world’s largest needed for hundreds of thousands transformation office, Cisco, India technology companies sniffed a huge of workers, there will be a more & Saarc. The aim has been to equip opportunity in helping customers permanent need in future to accelerate companies with tools and technologies tide over the crisis. As most offices the shift towards the cloud, say some that not only facilitate work from sent their staff to work remotely, from of the top tech executives in India. home in a secure manner but also help

forbes india • may 8, 2020 tech

in quick and easy scaling up of work. for the last five or more years,” “As a result, we have seen a massive says Som Satsangi, MD, Hewlett surge in the demand and adoption Packard Enterprise (HPE) in India. of our cloud-delivered solutions,” HPE customers are reviewing Chittilapilly says. This has been their IT architecture and blueprints across collaboration (via a software to determine the best options—a platform called Webex), security, combination of public cloud, private communication management, and cloud, and edge environments analytics. In March, Cisco registered (meaning the points of networks over 14.3 billion minutes of Webex farthest from the data centres, usage globally. In only one week in “We have been touching individual users) for their March, its security trial requests one of the first data and applications. The best increased by about 40 percent of last solution will be determined by year’s total requests. “These numbers tech companies workloads and their characterisation indicate the rise of a new way of to articulate that of performance, security policies, working, which I believe will become the world will be compliance, data localisation, a norm in the future,” she adds. audit requirements, and cost. While in the short term, hybrid.” IT decision-makers are seeking communications and remote —————— stability and service availability as working have taken centre stage, Som Satsangi a priority. However, at the same much more is in the offing. “Digital MD, Hewlett Packard Enterprise time, some organisations are facing transformation takes on a new severe decreases and others severe meaning during this global crisis. It increases in demand for their will be the new foundation for the seven retailers, six energy and utility products and services. From an IT future, and leveraging the cloud to companies, five of the top 10 banks, perspective, this means there can future proof their organisations and telecommunications companies, be extreme changes in capacity 65 ensure business resilience is more manufacturers, and software demand, and there is the requirement important than ever for customers,” companies are using Google Cloud as to support new workloads says Karan Bajwa, managing part of their business transformation. and services, notably remote director, Google Cloud, India. As people transition to remote applications and virtual interfaces. Google Cloud offers three work, many are looking to build In the short term, this drives important capabilities for digital skills and increase knowledge. changes both in terms of technology transformation: First, high- To help, Google is offering its and flexible IT delivery and scale, highly secured and reliable portfolio of Google Cloud learning financing models. “But these infrastructure, including cutting- resources, including an extensive short-term changes are just edge computing, storage and catalogue of training courses. amplifications of longer-term trends networking through many data Anyone can gain cloud experience which are fundamentally shifting centres—called ‘regions’—around through hands-on labs, and learn organisations’ approach to sourcing the world. Second, a digital how to prototype an app, build and running IT,” says Satsangi. transformation platform to manage prediction models and so on. HPE’s Pointnext services portfolio data at scale, develop and modernise Teams can also build their skills has comprehensive expertise to help applications, understand and analyse through Google’s on-demand customers assess their IT blueprints data, collaborate with people and courses on Pluralsight and Coursera. and build an architecture best suited take advantage of new artificial “Our most popular learning paths, for their workload. HPE’s advisory intelligence capabilities. Third, a including cloud architecture service Right Mix Advisor, through suite of industry-specific solutions and data engineering, are now an immersive dialogue with the IT that deliver new digital capabilities available to all,” Bajwa says. decision makers, guides them towards in health care, retail, media and Still, companies will continue to the best mix of tools customised entertainment, and other industries. use a ‘hybrid’ model of both privately- towards their individual complexities Google is helping thousands of owned and publicly-sourced data and workflows. The company has organisations change themselves. centres. “We have been one of the highly specialised experts in the Worldwide, if one looks at the 10 first tech companies to articulate that Pointnext team to help customers largest companies in different industry the world will be hybrid—we have optimise their use of both Amazon verticals, nine media companies, consistently maintained this outlook Web Services and Microsoft’s Azure—

may 8, 2020 • forbes india Pandemic Impact tech

two of the largest cloud providers. In the move to the cloud, security Satsangi says customers are is an important factor, says Sajan becoming successful in optimising Paul, managing director and country their IT landscapes, reducing manager, India and Saarc, at Juniper complexity and cost while freeing up Networks. “Earlier, it was more of an resources to focus on innovation and operational expenditure discussion other business critical requirements. with our customers. However, now, it Hence, the cloud providers see a has become an important discussion surge in the use of their solutions. as part of their business itself,” he At Microsoft, the company has says. Therefore, Juniper has solutions, seen a 775 percent increase in “While cloud Contrail, which allow customers the number of monthly users for computing was to expand their IT assets across Teams, its collaborative software multiple clouds in a multi-cloud platform, in one month in Italy. on the upswing security scenario. With Juniper’s “We have seen a significant spike earlier, the current Mist and SRX series of products, it in Teams usage, and now have situation has can provide enterprise-grade work- more than 44 million daily users,” from-home infrastructure, he says. the company said. Those users pushed clients Juniper is working with customers generated over 900 million meeting towards it.” to tackle massive distributed and calling minutes daily in a single —————— denial-of-service (DDoS) attacks, week towards the end of March. Sharad Sanghi which slow down the networks Windows Virtual Desktop usage CEO—global data centres significantly. Its new solution in has grown more than 3x. And the and cloud infrastructure (India), collaboration with Corero Network NTT Ltd government’s use of public Power BI, Security offers service providers a data visualisation platform, to share with an intelligent DDoS protection 66 Covid-19 dashboards with citizens has that self-heals the network. surged by 42 percent in the week. and we had anticipated it to be a year Mid-sized Indian IT services Microsoft is implementing a few of accelerated growth in the hybrid companies are also seeing temporary restrictions designed to cloud market.” NTT was prepared opportunity. “We are seeing our balance the performance for all its for growth, he says. To meet the services across infrastructure services customers. It has placed limits on increased demand, NTT is providing and cloud, remote service desk, free offers as well as a few resources clients with simplified end-to-end break-fix services (services as/when for new subscriptions to prioritise cloud management services across needed) and information security, all capacity for existing customers. multiple platforms. It expects more being in demand due to the nature These are ‘soft’ quota limits, and companies to move to the cloud to of the event and the sudden need to customers can raise support requests take advantage of the operational and shift to work-from-home,” says Anand to increase them. If requests cannot cost gains and improved profitability. Ramakrishnan, CEO of Qtek Systems. be met immediately, the cloud “We also hope more on-premises In addition, robotics process vendor recommends that customers customers, who faced challenges automation—the use of software bots use alternative data centres—called during the lockdown, will transition to to automate manual processes—is also ‘regions’ and the company has 54 of the cloud,” says Sanghi. Further, due getting more attention, he says. So far, them live currently—that may have to cash flow and logistical challenges, this was restricted to certain areas of less demand surge. “To manage customers will prefer the cloud rather banking and finance and customer surges in demand, we will expedite than incurring capital expenditure support centres, but Qtek has recently the creation of new capacity in the on buying and shipping IT hardware seen a rise in interest for this service. appropriate region,” Microsoft said. and software assets, adds Sanghi. This is possibly because customers “While cloud computing was NTT is offering customers multiple have begun to realise that automation already on the upswing earlier, the cloud options via both its own public spend today may result in substantial current situation has further pushed cloud—called SimpliCloud—and benefits during times of crises. clients towards it,” says Sharad through partnerships with global “Once Covid-19 comes to Sanghi, CEO—global data centres cloud providers. Its approach an end, we expect to see a lot and cloud infrastructure (India) is to help customers choose the more action around cloud and at NTT Ltd. “The government has most suitable platform for their information security together as a made data localisation mandatory workload and plan the migration. strategy,” Ramakrishnan says.

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To subscribe: sms “Forbes” to 51818 or visit www.forbesindia.com/subscription or call 91-22-40019816 Pandemic Impact Stone Walls Don’t Make a Prison How the Kerala police, led by Rishi Raj Singh, the state’s director general of prisons and correctional services, is counting on prisoners to produce face masks, hand 68 sanitisers and hospital gowns

Text and curation by Mexy Xavier; Photographs by R Ravi

he facts and figures speak for themselves: Kerala’s 54 prisons with around 8,000 prisoners make 20,000 cloth masks every day. About 1,000 of those, priced at T`10 each, are sold every day at the cafeteria of Poojappura central jail in Thiruvananthapuram. The Kerala State Electricity Board has ordered 50,000 masks for its employees in 14 districts. The inmates also make other items crucial to fight the pandemic. For instance, 500 litres of hand sanitisers daily, which are sold at `50 for 100 ml. And Sree Chitra hospital in Thiruvananthapuram has ordered 500 gowns from Poojappura’s gown- making unit. Besides, under the initiative ‘Food for Freedom’, 3 lakh chappatis are rolled and baked, while 550 kg of chicken cooked in the prison kitchens per day. The meals are then packed and sold near hospitals and main junctions across 10 cities. While there is an extensive menu, the cheapest among them, chicken curry and chappatis, comes for `35 a pop, and is bought by the civic authorities to distribute among migrant workers. ​ The gown-making unit at Poojappura central jail makes 25 pieces a day

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Each tailoring unit has one tailor. Since most of the prisoners don’t have the skillset, they are trained to stitch in the jail itself

Hand sanitisers are prepared under the guidance of chemistry professors from colleges across the state, adhering to the norms issued by the drug controller

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forbes india • may 8, 2020 photo feature

The organic farms at the jails cumulatively produce 300 kg of vegetables every day with which the kitchens rustle up an elaborate menu, including Kerala favourites like puttu, appams and parotta. The meals are then sold in packets that are also made in-house

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may 8, 2020 • forbes india ForbesLife life in a lockdown Lockdown Glimpses of daily life from cities around diaries the world

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drawl of the koel, and the sudden rainbow flash Ka u la Lumpur, Malaysia of a dozen blue-tailed bee-eaters flying low. By Charukesi Ramadurai A month ago, at this time of the morning, this

ai arterial road would have brimmed with long queues of cars (im)patiently waiting at the traffic

amadur R s I stand on the balcony of my 18th light. Mothers and nannies would have rushed The silence on the ukesi ukesi floor apartment, I can see an empty children to school; there would have been a road down below. An occasional empty Kuala few walkers with or without a dog on a leash, Lumpur y Char b car zips by, perhaps on its way to a streets along with a handful of perspiring joggers out supermarket or an unmissable medical is broken to get their daily cardio fix before the heat and

hotos hotos only by the P appointment.A The silence is punctuated by the sirens of an humidity became unbearable. Perhaps the roti alarms of either an ambulance or a police car on ambulance man would have gone by, carrying fresh fruit and or a police patrol. There are also new sounds: The chirping of car on patrol popcorn packets, fluffy pav and white bread, all

kuala lumpur: lumpur: kuala starlings and sparrows, the mournful yet melodious wrapped in plastic covers and tied to his bicycle.

forbes india • may 8, 2020 Now, none of them are out on the streets. Malaysia has been under total lockdown since (From top): Health March 18. But people (who could afford to) had workers at a started staying at home as much as possible local hospital check a since early March. My swimming instructor visitor’s cancelled classes around then, while the local temperature; a Kuala bi-weekly farmer’s market shut down until Lumpur mall further notice. There were signs of panic- shut since the national buying—long lines at the supermarkets, and lockdown shelves that seemed to be emptying faster than was declared on March 18 they were being filled. And finally, when the Prime Minister addressed the nation on TV, and advised everyone to stay indoors, it was time for my husband to start working from home too. My husband and I had chosen a strange time to move to Kuala Lumpur from our home in Bengaluru. India was still fairly unconcerned then—in the last week of February—but we flew into an airport where face masks and hand sanitisers were in abundance, with warning notices plastered all over. When we stepped into our hotel late at night, the security guard pointed a thermometer at our foreheads and nodded us in only after ensuring we were not running a fever. Malaysia, hit the hardest in the Southeast Asia region, officially reported its first coronavirus 73 case on January 25. As of today (April 9), there are 3,963 confirmed cases and 63 deaths. To enforce the lockdown, the government promptly sent the police force and—after pleas, threats and spot fines failed to keep people off the streets in the first week—the army. Overall, the planning and execution of the crisis management strategy has been thoughtful, allowing 48 hours for people to go back home, organise As a freelance journalist and travel writer, I work or stock up their kitchens. The supply chain am used to working from home. Surprisingly, continues to be steady, and only the head of the even my husband, an extrovert, who is used to household, which is usually a man, is permitted to working from an office and likes meeting people, step out for groceries or essential shopping. Many seems to have taken to this schedule easily. memes, and even a newspaper article, sprang Some delightful stories, too, emerge in the midst up instantly about Malaysian men now finding of this gloom. Sunandhini Pattabhiraman, my new themselves confronted by a bewildering variety friend and old resident of Kuala Lumpur, describes of meats and masalas. But these strict measures her neighbours coming out to their balconies to seem to have borne fruit, at least halting the sudden sing for children who have birthdays amid the and fierce spread through local transmission. lockdown. And then there is my other new friend, I live in a neighbourhood that serves as a safe S Abdul Shukor, a partner at Malaysian law firm bubble for expatriate workers from the USA to Zain & Co, who facilitated the return of a Lebanese Australia and Germany to India. On an expats’ citizen, stranded at Kuala Lumpur airport, to group on Facebook, I see a wide range of coping Phnom Penh in Cambodia, where he now lives. mechanisms playing out—from panicked calls We are already in the fourth week of the for veterinarians, to even more panicked calls lockdown, bravely coping with all its ups about the availability (or lack, thereof) of alcohol and downs. But irrespective of whether in the stores; from silly memes about the latest the lockdown is lifted or even eased soon, situation, to serious updates from the government. there is a long and hard battle ahead.

may 8, 2020 • forbes india ForbesLife life in a lockdown

Christopher Pike / Bloomberg via Getty Images

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The first big clampdown came on March 4, Dubai, UAE A view of the empty when schools across the city shut with a day’s access notice. Spring break was brought forward and By Chaitali Patel road to the arrival hall schools were told to start lessons online; initially, of Terminal children prepared to study from home for two 3 at Dubai he reverberating sound of a fast car’s International weeks, and then it was extended till June. Parents engine, juxtaposed with the chirping Airport scrambled for devices and tables for children to of sparrows and the shrill calls of work on. A school WhatsApp group I am part of sunbirds, though incongruous, are was abuzz with irate parents, juggling working normal here in Dubai. But things have from home, technology issues and teaching kids. Tchanged. The birds are thankfully still around, After schools, many workplaces asked their but the city of speed has gone eerily silent. employees to work from home. Slowly and steadily, About a month ago, in early March, when as further stringent measures were introduced, I landed at the airport, everything seemed both anxiety and uncertainty spread. People could normal. I felt out of place and silly as I donned exercise outdoors if they maintained adequate my mask before joining the immigration queues. social distance, but gradually all sorts of outdoor Looking at the list of flight arrivals and the activity were stopped. As of today, no one can leave crowds, Covid-19 seemed like a figment of their homes without a permit to visit even the someone’s imagination. The only change was nearest supermarket. We need to fill our personal that everyone exiting the airport had to walk past details on a government website, and the reason heat sensors, monitored by a uniformed man. why we need to step out, and a permit is granted. Fast forward to mid-April. The airport has come It’s a fairly easy and hassle-free experience, but to a grinding halt; except for cargo flights, all aircraft the government gets to monitor our movements. have been grounded till further notice. For a city Even as images of empty store shelves from cities that thrives on being a nodal point connecting far- around the world flooded the internet, in Dubai the flung places across the globe, this is imminent doom. supermarkets are well stocked, and operate normally

forbes india • may 8, 2020 Christopher Pike​ / Reuters while following safety precautions mandated by the government. Customers are instructed to wear masks; many also wear gloves. All trolley handles are given a wipe down before every use, and stickers on the floor indicate the safe distance to maintain from the next person in queue and from the cashier. I feel like an actor getting ready to go up on stage every time I step out of home, as I put on my mask and gloves. My drama, though, is limited to constantly sanitising my hands and every surface I touch, as well as taking a step back and away from the person nearest to me. Strange are these times, and stranger will be the effects they’ll have on us all in the days to come. Whatever my grievances are, there are umpteen blessings to be grateful for. Like most expats in Dubai, we live well in our bubbles with all possible creature comforts, a well-stocked Ahmed Jadallah / Reuters pantry and glitch-less wifi. Worries about family and friends around the world, possible pay cuts or job losses, and other economic fallouts of this pandemic sit somewhere in the recesses of my mind. But, as of now, I choose not to dwell on these. How long this will last is also a question for another time. Over the weeks my worldview has expanded, 75 but my field of view has shrunk. I know what’s happening in far-off corners of the world as I keep track of Covid-19 numbers, but I don’t know what’s happening in the park behind my house, its view blocked by a low-rise building. It’s the time of year when the gulmohar trees will slowly burst to life. These are small markers that give me a sense of rootedness. I know that spring is here as sunbirds flit about the few flowers in our little garden. Soon, cooler mornings and pleasant evenings will become a distant memory as summer sets in. Then, the confinement indoors will be total. demands constant attention to a perennially As someone who works from home, I am (From top): hungry child. Like almost all travel writers, I am Supermarkets used to minimal social interactions and spending in Dubai are grappling with a slew of rejections, lack of demand long hours indoors. However, the indoors I am well-stocked for articles, and a highly uncertain future. despite the accustomed to has transformed. The noises outside lockdown; My husband, who always said he could on the street have reduced, while the commotion citizens never work from home, has adapted to his new exercise while within the four walls of our house has grown. maintaining arrangement extraordinarily well, and clocks in nine I struggle to find my writing zone amidst the a distance hours every day. Our daughter is thriving, with the between many interruptions, from a teething puppy who themselves freedom that the lack of a rigid timetable brings and no extra-curricular activities eating into her time. This confinement is like an extended vacation for her, albeit strange without friends and activity. i know what’s happening in far-off I often wonder how she’ll look back at this countries but i don’t know what’s period of her life when she grows up. Will it just be an aberration or will it leave a deeper happening in the park near my house mark? I go to bed with a stash of unanswered questions and wake up with several more.

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a little bag of essentials—bread, pasta, a large box Bre lin, germany Brandenburg Gate without of multivitamins—on our doorstep. They were By Vaishali Dinakaran the usual standing far enough away to not violate the rules throng of tourists with of kontaktsperre—no contact. So there we stood, selfie sticks first shouting pleasantries at each other, and then e’d been back home for just admonishing them for leaving their homes for a three days, having completed socially-distanced visit. No hugs, no kisses, just lots a 2,000-km drive from and lots of space between us. The new normal. Arvidsjaur in North Sweden to Berlin in Germany. It had he ausgangsperre or “lockdown” in Berlin Wbeen a rather long work trip up north. As we isn’t a complete lockdown. Of course, malls, moved south, travelling away from a cold, harsh T theatres, concert halls, and educational winter into what appeared to be spring, the institutions are closed. And the recommendation sunshine made the prospect of a pandemic a is for people to work from home if they can, little more tolerable. The plan was to follow the which a lot of people are able to manage. No advice: Get home, stay indoors for two weeks, more than two people can be out in public and even after that, continue to observe ‘social together, and you have to maintain a distance of distancing’. Which is why when my husband at least 1.5 metre from others on the streets. inakaran

D Ronny’s phone rang, and I heard him yell, “What When I look out of the window of my apartment do you mean, ‘Come downstairs?!’” I was startled. in suburban Kaulsdorf, I can see some activity. There aishali

V The two of us grabbed our jackets and ran down is a steady stream of traffic going by for two reasons: y b and out the building. Standing on the far side of One is because there’s a hospital less than a kilometre the yard were Ronny’s mother, Irene, and his away, and then, there’s a bus terminal and a local uncle, Willy. They’d motored over to see us, and train station, or S-Bahnhof, nearby. At any rate, other erlin: photos erlin: photos

b make sure we were in good health, and had placed than having a batch of groceries delivered, and in

forbes india • may 8, 2020 a moment of sheer exhaustion, ordering a pizza, I haven’t encountered anyone other than Ronny. Please maintain a The fact that my office is usually wherever my 1.5 m gap, laptop happens to be is something that I’ve been reads a sign on the used to for a while now. So even while all work- floor of a related travel has been cancelled, there are still supermarket articles to be written for various publications, a motorsport section to be put together for a magazine, and some leads to follow. But even this semblance of normality doesn’t really feel normal. Given that I’m on my computer a lot, things are tricky. Endless news—essential, non-essential and morbid—are all just a new browser tab away. I find myself constantly tracking the number of Covid-19 cases in Germany, in India, in France, in Italy. And then breaking it down further into cities, and still further into recoveries and deaths. Into statistics of every imaginable sort. Every time I log onto Twitter, I feel like I’m seeing Tweets from more people who have either lost a loved one, or lost their jobs. By the end of two weeks, I’m feeling miserable, and the effects of cabin fever are setting in.

here’s honestly nowhere that I really need to go. But given that my two weeks of self- T isolation are up, I can go for a short walk. So 77 I’m relieved when my neighbour Miriam suggests we walk to the Kaulsdorfer Seen—twin lakes about 2 km away. The sun is out, and the weather is a pleasant 23°C. When we leave the built-up portion of the neighbourhood behind, and cross into a grassy field, for a moment I forget everything grim and morbid. Miriam’s throwing sticks for Lotte, her dog, people to stand 1.5 m apart. But I’m relieved to see to catch, and we continue down the mostly deserted Family visits that people are only buying what they need, and in the time path to the lakes, where we’re in for a surprise. The of social there’s no dearth of anything. Not even toilet paper. weather seems to have made people forget the global distancing health crisis. A fair number of sunbathers are at the t’s Saturday evening when we decide to drive lake, many of them nude—Germany is famous for through the city. I’m curious to see what Berlin FKK (Frei Korper Kultur, which translates to free I looks like on Easter during a lockdown, and also body culture). Social distancing seems to have been I’ve realised the Indian store in the heart of the city thrown to the wind, so we hightail it back home. I is open for three hours each evening, and I’m out of later learn that not all Berlin parks are similar. My my favourite brand of tea. I’ve never seen the city friend Eleanor Turner tells me that at Gorlitzer like this before. The lawn outside the Reichstag— Park, a famous haunt of the city’s drug dealers, she the German parliament building—usually packed spotted, “drug dealers not only wearing face masks with tourists, now has a few people sitting on it. and maintaining social distance, but also have set up I’ve never been to the Brandenburg Gate before a makeshift hand-washing station for the public.” without nearly getting thwacked with a selfie stick, The next time we leave the apartment, it’s to go to but now it’s nearly empty. The new normal. a nearby supermarket for groceries. It’s the Thursday Berlin is the most energetic city I’ve lived before Easter, which means normally it would be in, besides Mumbai. And to suddenly see it crowded. But now the aisles are sparsely populated. stripped of this is strange. The stillness is There’s hand sanitiser for customers to use before peaceful, but discomfiting, like watching a entering the store. The cafe and baked goods section movie on mute. It isn’t a movie that I’ve seen are empty. And there are stickers on the floor for before. And I don’t know how it ends.

may 8, 2020 • forbes india ForbesLife food

The love of mutton makes Madurai an Tastes from a exception among South Indian religious centres temple town By Rathina Sankari

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remember, as a 10-year-old, waking up even with nothing but salt and pepper, prepared by before the sun had made its presence felt. my grandmother. It was here that I mastered the Although it was too early for the day’s regular art of tapping the bones and sucking the mushy morning routine to have started, downstairs I marrow out from them. She would regularly could hear a babel of voices. As I walked down prepare karikuzhambu (mutton curry) doused Ithe steps, I watched my maternal grandmother with coconut paste, and the kothukarikuzhambu giving instructions to my uncle about the items to (mutton keema curry), which was the perfect be bought from the market. Mutton topped the accompaniment for idlis, dosas, parottas and pooris. list, followed by goat blood and bone marrow. She But try as I might, I could never gather myself to was clear about the cut and quantity, for it was savour the rathaporiyal (goat’s blood stir fry), a no normal day. It was the day of Lakshmi puja. delicacy that would be prepared every Diwali. Meat being prepared on the occasion of Diwali In most religious centres of Southern India, Madurai is might be unheard of in many parts of India. But not home to a such as Udupi in Karnataka, Tirupati in Andhra in the temple city of Madurai and its neighbouring long list of Pradesh and Guruvayur in Kerala, the culture of restaurants towns, where butchers open their shops before the that serve eating meat isn’t popular. But Madurai is home to crack of dawn on this auspicious day. I have fond varied non- a long list of roadside eateries and restaurants that vegetarian memories of biting into the juicy pieces of suvarotti dishes serve varied non-vegetarian dishes. Every part of the (goat spleen), rich in iron, roasted and smeared goat is savoured: The brain, shank, trotters, head,

forbes india • may 8, 2020 photographs: RATHINA SANKARI kidneys, intestines, liver… you name it. “Besides being a temple city, Madurai has for centuries been a commercial hub for trade and commerce,” says Shanmughapriya Thyagarajan, who manages Mystical Palmyra, a heritage tours company. “This distinguishes Madurai from other temple cities, which are primarily pilgrimage centres.” Madurai, the seat of Tamil Sangam (the renaissance of Tamil literature that spanned the 3rd century BC to 3rd century AD) and popular across the globe for the highly revered Meenakshi Amman Temple, is an ancient city with evidence of human occupation for more than two millennia. It finds mention in the writings of ancient Greek historian Megasthenes, who visited India as an ambassador around 3rd century BC. The city also finds mentions in the Greco-Roman accounts of Pliny, Ptolemy and Straboin in the 1st and 2nd centuries AD, as the region traded commodities like pepper, pearls and textiles with the Greeks and Devika Romans. Excavations close to Madurai have also Marivel runs the 40-year- unearthed ancient Roman artefacts, such as coins. old Burma On my biannual visits to the city of my childhood, Idiyappam- kadai in a walk along the concentric streets surrounding the Madurai; temple is a feast for the senses: The woody, creamy A non- vegetarian fragrance of sandalwood paste as you pass by a 79 meal with sandalwood vendor, the waft from the seductive Ayira Meen Kulambu Madurai malli (jasmine) as you cross women wearing served with flowers in their hair, the noise of traffic, the towering, white rice; Meenakshi colourful gopurams (spires) of the temple, the aroma temple, of fresh, soft idlis from roadside corner shops. Madurai The city has many names, each referring to its many legends and attributes: The name Koodal refers to the congregation of scholars during the Tamil Sangam, while the name Madhura refers to the legend that ‘madhura’ or nectar flowed from the matted locks of Lord Shiva into this region; and the people from far and near who visit the city for commercial purposes have given it the sobriquet Thoonga Nagaram, or the city that never sleeps. The vegetable market, fruit market, flower market and fish market function through the night, with cargo being unloaded, packaged, distributed and sold. To cater to these throngs of people, roadside eateries and tea and coffee shops work through the night. “At two in the morning, you can get piping hot biryani, kothuparotta, string hoppers, idli, tea… you name it,” says Praveena Mukunthan, who hosts food trails called Foodies Day Out in Madurai. Both vegetarian and non-vegetarian fare is served in all these restaurants and street food joints. Madurai is also home to numerous joints called ‘mess’. They have their origins in the rustic, makeshift roadside stalls that locals set up to sell Frédéric Soltan / Corbis via Getty Images

may 8, 2020 • forbes india ForbesLife food

home-made food. These soon flourished and moved into permanent, but no-frills, set-ups. Amma Mess, Kumar Mess and Chandran Mess are some of the big names that serve a few vegetarian dishes, and focus more on meat dishes that are pocket-friendly and have a home-made taste. Mutton brain roast, kola urundai (meat balls), liver roast, kaadai (quail) roast, turkey biryani, crab pepper fry, mutton egg parotta, and mutton curry dosa are some of the dishes that typically appear on the menus of these joints. “The region has an abundance of karuvelam trees or Prosopis juliflora, which the goats feed on. Hence the easy availability of mutton,” says Shanmughapriya.

very year in the scorching heat of May, a motley crowd that was my family would E bundle into a state-run bus, which would move at a snail’s pace to my maternal grandfather’s village Lakshminarayanapuram, 60 km from Madurai. The purpose of this trip was to celebrate the kedavettu Pongal, a festival celebrated with goat sacrifices at the Kali Amman village temple. A fun-filled week-long affair, it involved folk dance performances, women carrying mulaipari (nine grains germinated in clay pots) on their heads, 80 preparation of Pongal (sweet rice) by the women, and the sacrifice of goats and chicken to the village deity. The slaughtered goat would be taken back to the courtyard of its owner’s house to be butchered. Some of the meat would be used to make biryani, mutton curry and varattukari (mutton fry), the rest would be salted and dried to make uppukandam, or jerked meat, which has a long shelf life. These would be consumed either as a curry to be had with rice, or fried in oil as a side dish in a traditional Roadside vendors South Indian meal. I would always persuade sell mulu my grandmother to pack large quantities of murungai vadai and uppukandam for me while leaving my hometown. paruthi paal A lover of mutton, on her death anniversary her or cotton- seed milk children continue to prepare different mutton delicacies in her remembrance every year. Such is the love for meat in this region that There is, of course, more to Madurai’s food scene when girls attain puberty, a lavish feast is thrown than meat. The city has a substantial presence of for friends and relatives, which includes rich Saurashtraians, whose ancestors migrated from non-vegetarian fare. When one-year-olds are Saurashtra in Gujarat. In the early 17th century, tonsured at clan temples, and their ears pierced, Madurai was ruled by King Thirumalai Nayaker— Pongal is prepared in earthen pots and a goat is he also constructed a namesake magnificent sacrificed. Guests are served meat dishes for lunch. palace—who invited the Saurashtraians to live in In recent years there has been an influx of the city, thus bringing their expertise in weaving, Western fast food in the city. “But Madurai and giving Madurai the famous sungudi weave. residents still go back to their traditional food as Also called Patnulkarar, or silk weavers, the their go-to food. However rich they might be, they Saurashtrian community has contributed immensely have no qualms about waiting at a roadside stall to the city’s cuisine and culture. On my visits to for their favourite local delicacy,” says Praveena. the city, I often drop in on my father’s friend, a

forbes india • may 8, 2020 century-old Nagapattinam Halwa Shop on Chitrai Street, and the Prema Vilas sweet shop on Town Hall Road. When this gooey sweet made of wheat flour, loaded with ghee, melts and slides down your throat, it is indeed poetry. A packet of this sure does find a place in my bag whenever I visit the city. As you stroll down its streets you are bound to notice many cycle carts mounted with a brass pot containing hot paruthipaal or cotton-seed milk. Mixed with palm jaggery and laced with dried ginger, grated coconut and cardamom, it is said to improve digestion and blood circulation and ensures good functioning of the nervous system. Another highly irresistible drink is the jigarthanda, made with almond resin, china grass, sarsaparilla syrup, basundi, chilled milk, lots of sugar and topped with a scoop of ice cream. This decadent dessert is the perfect antidote for Madurai’s heat. The best place to down a glass of this would be one of the numerous outlets of Famous Jigarthanda that dot the city. About 4 km from the Meenakshi Amman temple is the teppakulam, or the temple tank of the city. Every evening you will find a couple making and selling hot puttu, or steamed rice cakes, from a pushcart beside the tank. This healthy snack is best had by sprinkling 81 sugar or jaggery and grated coconut on it. Whenever I dig into a plate of puttu I am reminded of my paternal grandmother, who would narrate the riveting tales of Lord Shiva’s divine acts, with Madurai as his playground, from the Thiruvilayadal Puranam. One such story The Madurai says that when the river Vaigai flooded the city, malli is synonymous the Pandya king issued an order that a member with the from every family would help in building a bund city; Puttu or steamed rice on the river banks. But Vanthi, a lone woman, cakes find couldn’t take up this work due to old age. Shiva references in the appeared before her in the guise of a young man Thiruvilayadal and agreed to work on her behalf if she fed him Puranam puttu. To this day the city celebrates the festival of puttu every year to commemorate this event. I

AR Saurashtrian. Their puliyodharai, or tamarind rice, I stop by Janakiram, a non-vegetarian restaurant, NK

SA is the calling card of my sojourns. I have had this to relish some of the city’s specialities. I order Ayira

A

IN simple dish in many homes across the state, but Meen Kulambu, a fish curry made with the tiny spiny

RATH nothing beats the preparation of a Patnulkarar. loach that is indigenous to this region and is found To relish the other specialities of the city, in the marshy beds of its dams, lakes and rivers. I head to the roadside stalls opposite Sarveshwarar know it cannot rival my maternal grandmother’s Temple. Mulu murungai vadai (rice-based, deep preparation, but I take the plunge nonetheless. The photographs: photographs: fried savoury snacks made with the leaves of flavours of the dish transport me to her home: I see Erythrina variegata) and ragi vadai (a deep-fried her, clad in a sari, a towering figure, as she stood at snack made of finger millet with shallots and curry the gate talking to the fishmonger, checking the day’s leaves) are served hot and fresh, off the stove in catch mounted on his bicycle with an adept eye. the evenings. The halwa shops of Madurai have Madurai continues to be my favourite contributed immensely to its fame, such as the food playground for life.

may 8, 2020 • forbes india ForbesLife nuggets

A pick of the best, the latest, the greenest, the quirkiest, the most luxurious that money can buy

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may 8, 2020 • forbes india ForbesLife On Challenges thoughts 

Bettmann / Getty Images The challenge is to stay cool enough to handle the pressure in the moment so that you can succeed in the future. —Jurgen Klopp shutterstock The challenge is to The only use of an practice politics as the obstacle is to be art of making what overcome. All that an appears to be impossible, obstacle does with brave possible. men is, not to frighten them, but to challenge —Hillary Clinton them. —Woodrow Wilson Life’s a challenge, but that’s the best part. There is nothing like a —Venus Williams challenge to bring out the best in man. —Sean Connery

We must accept life for what it actually is—a 84 challenge to our quality without which we should never know of what stuff we are made, or grow to our full stature. g es The ultimate measure —Robert Louis Stevenson Getty Ima of a man is not where Why go through life he stands in moments of if you’re not going to challenge yourself? comfort and convenience, —Conor McGregor but where he stands at times of challenge and To my mathematical brain, the numbers alone controversy. make thinking about —Martin Luther King, Jr aliens perfectly rational. The real challenge is to work out what aliens might actually be like. If you cannot understand that there is something —Stephen Hawking

in man which responds shutterstock to the challenge of this mountain and goes out to Even if you have a The challenge of the meet it, that the struggle terminal disease, you unknown future is so is the struggle of life don’t have to sit down much more exciting itself upward and forever shutterstock and mope. Enjoy life and than the stories of the upward, then you won’t I love the challenge of challenge the illness that accomplished past. see why we go. new ideas. you have. —Simon Sinek —Edmund Hillary —Ralph Lauren —Nelson Mandela

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