February 2014 @ th 17 Issue An initiative by Youth Wing of Global Bhatia Foundation For Private Circulation Only Springboard to Success - Young Leaders Kaushal Sampat, 43 President & CEO – India, Dun & Bradstreet Never Compromise on Integrity You will be faced with situations that challenge your integrity many Shri Kantisen Shroff “Kakaji” (Age- 91 years) was a chief guest on January 26, 2013 at Shri Bhatia times during your career. Do not Balrakshak Vidyalaya –Borivali and he distributed Prizes to the students for their achievements. Kakaji ever give in. Keep distance from remains a great source of inspiration for the youth and selfless social workers. colleagues, leaders and companies that lead you down this slippery slope. Stand Up and be Counted A key attribute managers look for in their team members is initiative. Never hesitate in volunteering for assignments — the tougher the better. Similarly, never hesitate to express your opinion when asked, especially in public forums. Gain Exposure Across Functions It will help you learn more about your company, customers, competitors, and most importantly, help you build relationships with colleagues across the organisation and hierarchy. These relationships will stand you in good stead. The Economics Times Shri Yashwant Sampat (Latwala) felicitated by Ms. Priya Dutt (MP) 7th February 2014 for his Philanthropy for SAVE the children India. Page 1 Editorial Dear Readers, A humble effort made in 2010 to bring all the segments and organisations of Bhatia community together under one common roof and work for the progress of the community as a whole has been yielding positive signs today. Dakshin Bharat Bhatia Mitra Mandal having 6 organisations with them and Samasta Gujarat Bhatia Mahajan having 30 organisations with them have signed an MOU with Global Bhatia Foundation to work together and organise common projects. The committee members at Mundra, Rajkot, Ahmedabad and Nasik have expressed their observations that Revival is happening and all the Bhatia organisations which otherwise were dormant (few) have become active. We wish that every organisation of our community should organise minimum number of events that can include – Annual Get Together and Dinner, Sports for children and prizes for the achievers in all fronts, Picnic-Yatra, Career Counselling and Religious ceremonies. We at the ENewsletter team are quite encouraged by our readers' comments and contributions. Our team works on honorary basis and your pat on our back is a reward for us. Jay Shri Krishna ! Editorial team MLA Shri Gopal Shetty honours Jitendra (Jitu) Merchant MLA Shri Arun Gujarathi honours Pushpak Ashar for Best Photography at Borivali for Best Catering Service at Borivali Inside this issue We are Proud of you 1. Three Musketeers 2. Beyond Education 3. Juthika Roy 4. Know Your Roots ioonns !! 5. Satya Nadella grattuullaatti 6. Marc Zuckerburg Cong 7. Multan Sun Temple 8. Ram Setu 9. Infosys 10. Berlin Melody 11. HSU{ÉÖÅ ¡ÉÉSÉÒ{É ´É¾ÉiÉ´É÷ÖÅ 12. News from Bhatia Org. 13. Fisherman 14. What Readers Say 15. Birthdays of Great Indians Editorial Team Editor Haridas Raigaga Correspondents Nisha Gandhi Charmi Bharat Ashar Sweta Kirti Jesrani CA Final: 26th Rank (Nov 2013) CA Final: 27th Rank (Nov 2013) Design & Layout Dharmesh Gandhi Page 2 The Three Musketeers of E-commerce It was indeed a great pleasure and learning experience to attend and listen to the panel discussion arranged by 'The smart enough to gain experience by working in the start-ups Entrepreneurship Summit 2014' at IIT Bombay; hosted by Mr before launching Myntra.com. He was pleased to see a Ajeet Khurana. No prize for guessing the panellists who shared humungous sign of entrepreneurship within more than 2000 the stage for the first time- - none other than the three people gathered in the Convocation Hall at IIT, Powai, which is Musketeers of E-commerce who habitually wear applause on ultimately positive for the nation's growth. According to him, their sleeves. few things are definitely here to watch out viz. (1) Distribution • Sachin Bansal, Founder and CEO, Flipkart and modern retail, (2) Large brands and how to create online space (3) Social aspect and integrating content. • Mukesh Bansal, CEO and Co-founder, Myntra.com Narrating his views on 'Difference between US and Indian e- • Rohit Bansal, Co-Founder and COO, Snapdeal commerce', he mentioned that difference between the two is E-commerce via Sachin Bansal's eyes in brief: steadily disappearing. US market is very mature whereas Indian Flipkart, started 7 years ago by Sachin Bansal and Binny Bansal, market is pin penned simultaneously. Hiring was difficult alumni of IIT Delhi who gained experience at Amazon.com, is earlier, but now it is all easy with everyone willing to quit their one of the top 10 websites in India. They formed the company to present jobs for either joining start-ups or to become create differentiation in the customer focus element. E- entrepreneur. “Failure is an essential teacher and so is rejection. commerce has evolved considerably and now is the time for M- Acceptance of failure is necessary. You keep trying and trying Commerce (Mobile Commerce). “Ideas are over-rated and again until you succeed.” Keeping his views assertive on execution is under-rated. A perfect balance of the two is investors, he continued, “We absolutely need capital in the necessary for any venture to succeed.” Execution does hold the company to start. What is lacking in Indian Space is that no one importance but along with it sales should not be neglected when can predict future and the sense of clarity stays blurred even it comes to timing. Once Google was not what it is today. today.” In USA, very few start-up companies made to 15 years. N e gl e c t i n g i n n ova t i o n a n d Social aspect and e-commerce were customers can be risky. For example: not able to create the value at that Failure of Nokia to understand their point in time. customers and the changing trends. The e-commerce industry is worth Speaking about the investors, Sachin somewhere around $2 billion and Bansal stated "Everyone has the the future speaks loud with expected same version in India when it comes value to be $40 billion, or even more. to speaking about investors. They fail Being humble and considerate to understand the business and enough, he jokingly announced, dealing with them is always painful “We consider everyone as our but we understand their approach competition, even the 2,000 plus since it is their money power, which speaks for us. When we first students sitting here in the Convocation Centre too are the jumped into this in 2007, we had a misconception that everybody competition. We might get to see them in the market in few in the market will welcome us with open arms but we fell flat on years.” Various elements in this area are essential for success, i.e. our face as we approached investors. In Valley, investors look experience, trust, information, services, innovation in forward to accepting the deal, whereas in India, they wait on their technology, to name a few. toes to reject the deal. In India, entrepreneurs have more choices His closing remarks connected today's youth instantly.”You all and investors have fewer choices. The balancing between the two are very lucky to have tremendous support of facebook, iphones, will take time.” smart phones, and e-commerce. You have information in your Summing up with one-hour panel discussion, his closing hands. Take enough advantage of the same and build the bright remarks were simple yet motivating. “Internet is transforming future. Entrepreneurship is about discovery, hunger to learn everything. It will decide how to do B2B, farming, more, adapting changes, learning from customers and all the manufacturing, sales, etc. This change will occur surely for the core things you strongly believe in” better. Watch out this space as it has loads of opportunities for Mentioned below are few awards won: you coming soon.” • Myntra.com was announced as a winner of the Red Herring Here are a few awards won: Global 100 award • Sachin Bansal got Entrepreneur of the Year Award 2012-2013 • CNBC - TV18 awarded Myntra.com as one of the Hottest from The Economic Times Internet Companies of the Year at the Mercedes - Benz CNBC - • Flipkart.com was awarded Young Turk of the Year at CNBC TV18 Young Turks Awards TV 18's 'India Business Leader Awards 2012 • Myntra.com won IAMAI's Best E-commerce Website of the • Flipkart.com, secured second position in the List of year award for 2012 at the 7th India Digital Summit, 2013. Cheapest Mobile Store 2013, compiled by Indian e-commerce • Myntra.com also won the Fashion e-Retailer of the Year observer Zoutons.com Award at the Indian e-Retail Awards 2013 organised by Franchise E-commerce via Mukesh Bansal's eyes in brief: India in Delhi. Myntra was established in 2007 by three IIT alumni-- Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena . All three were Page 3 The Three Musketeers of E-commerce Beyond Education E-commerce via Rohit Bansal's eyes in brief: It is said, “The actual learning starts after your education and Snapdeal was incorporated in 2010 by Rohit Bansal, an IIT college days are over.” To set a milestone beyond your education alumnus and his school friend, Kunal Bahl, a Wharton Business zone, IIT Mumbai came up with a strong catalyst event for School graduate to connect suppliers and customers and give students, non-students, professionals, and start- ups: The Entrepreneurship Summit 2014. The Event will be held at IIT them one platform to function.