Startups are Changing the Way Business is Done, This Should be Embraced Says this Family Business GenNext
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India has had many robust large cap businesses since the country’s independence. Manufacturing space has been hot, so has been production. Some forward-looking conglomerates experimented with both, one such name is AmbujaNeotia Group.
Founded in 1993, Ambuja Neotia is one of the most prominent corporate houses headquartered in Kolkata. The group has verticals including real estate, hospitality, healthcare and education built under industrialist Harshvardhan Neotia. His son is now ready to take the business forward with the launch of Uno Chicago Bar and Grill in India.
Entrepreneur India caught up with the Group’s GenNext leader, Parthiv Neotia who is just 22 years old, a Babson College pass-out who has been interested in the Indian startup ecosystem from early days of his youth and is determined to bring interesting consumer brands to India along with steering his own original tea brand, which he counts as the first player in the tea startups explosion in the country.
In a chat, Neotia Junior speaks about how his vision is different from his father’s, what he wants to do once he takes over the Group business and his latest fantasy American food brand he is bringing to Delhi NCR.
Same Family, Different Vision
Neotia says he and his father both have different interests to some extent.
“My father is very passionate about real estate, my father is very focused on the product that he makes, he is very passionate about it, I am very much interested in the hospitality industry, renewable and waste management is another hope to enter this industry, it’s the need of the hour with respect to where and what people really want,” Parthiv said.
Parthiv is inclined to take his baby Tea Junction, the QSR brand that started in 2004 forward. “It aims to provide a chilled out place for relaxing and enjoying while savouring the flavour of a delightful cup of Tea, Kolkata – style,” says Parthiv with much gleam in his eyes.
He said the brand is currently only in Kolkata and the East of India and he hoped to expand it to other parts of the country from Delhi to Hyderabad and other premium cities and introduce that Tea from Calcutta in the Kulhad to the rest of India.
The Changing Face of Business
The Group has also started an incubation program that started about one and a half year ago. “I have been passionate about the startup ecosystem, which is taking a very interesting shape in India, of course with all the valuation and the kind of products that people are bringing.
Parthiv thinks fundamentally, innovation is very important for any business and that does not limit to product innovation but also extends to adaptability; he believes Indian startups are shaping the way business now needs to be done so it’s very important to be on track with that.
Entry into Food Business
The AmbujaNeotia Group has brought the famous American food franchise UNO to India. According to Parthiv, American casual dining business is taking shape in India to some extent with eating joints like The Hard Rock Café, Chilis and T.G.I. Friday coming into the market.
“If we can really position the brand in the market really well and create a certain ambience, we can scale much faster also we can pick up the market especially people moving from rural areas to urban areas and more and more cities,” said Parthiv.
A believer in the India growth story, Parthiv says a lot of business opportunity exists in India and it is growing. In food & hospitality, many brands from the United States have established beautifully in India, all you have to do is provide a great ambience to the consumers and position the brand well in the market that will help in capturing the market well thinks the Neotia heir.
He stresses on a lot of unexplored opportunities that await India considering the country’s internet revolution from rural to urban areas and with more cities being created.