After having successfully setup business ventures in the domains of hospitality, IT, agro-biotechnology, steel casting, etc., it was my good fortune to be appointed Executive Chairman of Metro project company, MEGA Ltd. way back in April 2011. During the last 2 and half years, it was venturesome, self-satisfying and successful journey of project development virtually from scratch.
In a short span of time I was able to develop the company into a technically competent, fully functional and construction ready entity. Such massive progress in such a short span of time had not been achieved in the past either by the Delhi or Bangalore metros, which are currently operational metros apart from Kolkata metro.
The business environment in the country has taken an adverse turn leading to distress in virtually every industry sector and especially hitting had diversified business groups, My own commitment to the company and its stakeholders including bankers, investors and employees demanded that I seriously reconsider going back into the realm of business. I had mulled over this issue for quite sometime and took the advice of seniors, wise persons, and family and thereafter decided to request State Government to let me move on. I was also inspired by the example of N.R Narayan Murthy and many other great visionary business leaders who have chosen to relinquish their role as mentor and wear a more exacting, executive role in this competitive and adverse economic environment.
My own struggle as a business person in the formative and growth years of business wherein I went through the pain of managing with scarce capital resources and low liquidity has been instrumental in conceptualizing and setting up of an equity fund which will assist entrepreneurs in similar situations. This fund very aptly called LIFE (Let India Fly Forever) will initially raise Rs. 250-300 Cr from investors in India and abroad.
Even though the economic environment is challenging world over, India currently offers long-term investment opportunities of Media & Entertainment, Tourism & Hospitality, Healthcare, and Lifestyle. Besides, the need for equity to support growth and profit oriented small enterprises has been felt as never before. Especially for enterprises in the turnover range of Rs. 20-50 Cr per annum.
The need for taking preparatory steps and applying for regulatory approvals in the name of proposed fund which is being sponsored by myself dictated moving away from any executive position in government as I begin a new journey in an area where very few will dare to tread in the current environment. I seek support and good wishes for this task, which is inherently difficult but most desirable in the ultimate objective of nation building.