It wasn't long ago that we believed India will become a global service provider, on the back of its strength in software services. And then, prime minister Modi came and raised the pitch on manufacturing all over again, inviting the world to come and Make in India. Unfortunately, neither services nor manufacturing today seem to inspire confidence when it comes to creating jobs that India needs over the next few decades. All the talk about artificial intelligence and robotics taking away jobs in both technology services and manufacturing is becoming a reality, sooner than one expected. This is bad news not only because we are way behind in innovation, but also as we have been slow in adapting to change.
The one thing though that has held India in good stead all these years is the dynamism of Indian entrepreneurs and their unrelenting perseverance. When Outlook Business launched The Power of I in 2012, our intent was to showcase companies that exemplify Indian enterprise. In the first edition, we focused on Indian exporters, in the second, we chose companies that had created globally powerful brands and in the previous edition we had a mix of outstanding companies from seven different sectors.
In this fourth edition, we bring you another assortment of outstanding companies built by first-generation entrepreneurs. Whether it is playing on India’s native strength or breaking new ground, these entrepreneurs have built novel businesses through sheer ingenuity. Of the companies featured, Synthite has become a formidable player in the flavours and fragrances space by supplying to luxury labels such as Giorgio Armani and Ralph Lauren apart from making your favourite Maggi, hot and flavourful.
Then, Shilpa Medicare is remarkable not just because of promoter Vishnukant Bhutada’s foresight to focus on oncology but also for its decision to operate out of his hometown Raichur and contribute to the city's development. While Intas is an even stealthier super-achiever in the pharmaceuticals space, Vini Cosmetics and iD Fresh Food are the envy of multinationals. Vini dislodged Unilever's deodorant brand Axe to become the No.1 and iD Fresh Food cracked a white space that Unilever was eyeing for a long time. We hope that you enjoy reading every story in this special edition.