State Of The Economy 2014

Path to progress

Overcapacity in cement and a crash in dal prices bring the slowdown home to Gulbarga

Soumik Kar

Meet Padam Bajaj. He’s quite a sight, covered in mud from head to toe and wearing a pair of battered, dirty Adidas sneakers — not your average businessman, certainly. But the 33-year-old entrepreneur is unfazed by our startled looks and obvious hesitation before shaking hands. “This is my business and this is how I look at work,” he says easily. Mud is obviously good business — Bajaj is clocking a turnover of ₹12 crore a year, after just six years.