Rail Frieght Transport Very Poor In India, There Should Be A Vande Bharat-Like Scheme: Gallant Group MD

Ideas of India: Gallant Group chairman Chandra Prakash Agrawal crictised the GST redressal system and flagged red tapism in dealing with the government.

With India aiming to become a USD 5 trillion economy by 2025 and USD 7 trillion by 2030, Chandra Prakash Agrawal, chairman and managing director of Gallant Group of Industries, said on Saturday that the industry had a major role to play in reaching that goal. However, Agrawal said goods traffic movement and handling, which he called an important segment to reach the $ 5 trillion goal, was very poor in India.

Agrawal was speaking at the second edition of ABP Network's 'Ideas of India' on the topic "India Inc: Building Tomorrow's Economy". The two other speakers were Sanjeev Juneja of SBS Group and Suvankar Sen of SENCO Gold and Diamonds.

the Gallant Group chairman said, "India has always been known as an agriculture dominant economy. However, the agriculture-led growth is limited. The indsutry will have a major role to play in India's aim to become a USD 5 trillion economy. Western countries acheived growth before and that is reflected in their lifestyle."

Agrawal further said that while road connectivity had improved tremendously over the past 10 years, goods traffic movement and sea ports handling were areas of concern. He pitched for a Vande Bharat-like scheme in goods train movement. 

"Road, rail, air connectivity, sea ports, skilled labour and power generation have a major role in taking the economy forward. We are much better now in terms of roads network than we were 10 years ago. However, goods traffic movement and handling is not up to the mark. There should be a Vande Bharat-like sceheme for goods movement. Railways should think of this. Sea ports handling is also very poor. More players and comepetion should be encouraged. Monopolisation won't be good," Agrawal said. 

Agrawal also crictised the GST redressal system and flagged red tapism in dealing with the government.

"Returns filing has been made easier after GST. However, the number of tax slabs should be reduced to three. The GST redressal system should be made better. There are no specific guidelines. It will discourage honest tax payers. From Centre to state, I have written to 14 people but have not got a single acknowledgement," he said.

Govt Should Look At Making Indian Jewellery A Global Brand: SENCO Gold MD Suvankar Sen

Meanwhile, Suvankar Sen, MD and CEO, SENCO Gold and Diamonds, asserted that the jewellery industry played an important role in growth of Indian economy. He said that the industry employed around 70-80 lakh people and contributes nearly 7 per cent to the GDP.

Speaking at the ABP Summit, Sen said, "India has always been known for manufacturing, The government should look at making Indian jewellery a brand globally. There are several Indian companies in top 20 diamond firms. Its time Indian jewellery brands start expanding. It will be a matter of time before world starts looking at owning a piece of Made In India jewellery." 

He further said schemes like Digital Gold had made owning jewellery for the younger generation much easier and bridged the gap between customers from urban areas and Tier 2 and 3 cities.

"One can now just purchase gold online, and an equivalent amount of that is kept as physical gold in an insured vault. The minimum amount one can buy is as low as Rs 250," Sen said.

On the changing face of jewellery industry, Sen said gone were those days of "chalta hai" attitude and the younger generation now prefer everything personalised. "People now don't just buy jewellery to keep them in locker but one which they can wear everyday. Saving while consuming is the new mantra," the SENCO Gold MD said. 

Dr Sanjeev Juneja On The Name 'Kesh King' And How To Build A Brand

Dr Sanjeev Juneja of SBS Group threw light on the struggle he underwent while making successful and well known brands like Kesh King and Dr Ortho. Speaking at the ABP Summit, Juneja said no institute can teach the knowledge one learns from struggle.

"One should take one step at a time while walking on the road to success. It is always better to take the road than making a helicopter landing," he said.

Juneja, who is also an investor and philanthropist, is the founder of Ayurvedic firm "Divisa Herbal Care", which is amongst the fastest growing FMCG firms of India.

He is better known in the Indian market as the founder of the "Kesh King" brand. In 2015, he created a history in the FMCG sector by selling the brand to Emami Limited for $262 million, which has been recorded as the second highest paid brand.

On building a brand, Juneja said one should first acheive to make a product result oriented and one that is accepted by the masses.

"The product should be self explanatory. One needs to find that gap and postion in market. A consistent effort is needed to make a product a brand. If product is not result oriented, then too much marketing will kill that product. There should be easy availability of the product to the masses," Dr Juneja said.

On choosing the name 'Kesh King', a hair product, Juneja said, "Women are generous and accept the name 'king'. However, men won't accept Kesh Queen and their ego may get hurt."