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: Can you imagine an entrepreneur with just post-graduation in business management, with no knowledge of the industry he is entering into, little capital in hand, taking a plunge into manufacturing? Amarjit Singh is such a first generation technocrat. He started his company in 1989 to manufacture fans for desert cooler kits in Faridabad and won the best young entrepreneur award in small scale industry in 1998. He had no prior knowledge of the industry but his company Intec Group which had a turnover of Rs6-lakh in 1989 grew to a Rs118-crore turnover company in 2006-07. He is supported by his wife in day-to-day corporate affairs, and his own vast experience in HR and administration sails him through difficult patches.
But there are few entrepreneurs who have not faced any difficulty in running their businesses. For Amarajit finance was one of them. ''In order to have fast and vertical growth in the group a lot of investments are needed. Approaching financial institutions and bankers and preparing all the requisite data was tiring and time consuming''. More than that it was a herculean task to win the confidence of customers. Customers were talking of large volumes, long credit periods which called for major investments in infrastructure to meet their quality and quantity parameters. Initial lack of experience also put the spanner in the works.
Intec Group mainly caters to the white goods and home appliances sector. There has been tremendous growth in this segment and according to Amarjit the boom in Indian economy has triggered an upward trend, with new avenues opening for both domestic and international markets. But when it comes to office and factory floor culture Amarjit insists on tastefully decorating interiors and providing infrastructural facilities to make employees give their best. It improves productivity remarkably, he adds, as people spend longer hours in office to get an edge over competition. Another tectonic shift in value systems has made sure that the average Indian does not look at white goods and home appliances as luxury. It is taken as absolute necessity. ''Price war has become the game of the day. Every FMCG giant is vying to capture the maximum market share by offering special schemes and a host of freebies. On the other hand, the per capita income has been steadily growing at the rate of 8 -10 per cent annually''. The FMCG sector is projected to be growing at...
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