Exports... the best medicine

Yogesh Gole

Aurangabad, March 9:

After obtaining Bachelor in Pharmacy Sciences degree from University Department of Chemical Technology, Mumbai in 2006, Harshwardhan Karad acquired master’s degree in International Business from University of Canberra, Australia, his specialisation being in business in Asia pacific region. He received lucrative job offers and could have settled there, but India was beckoning him. “What is the use of my education, if I cannot contribute in development of my country, my people,’’ he asked himself and returned to the motherland. He did a certificate course in private equity and capital markets from IIM, Bangalore understanding how mergers and acquisitions take place and capital markets work. Armed with quality education, he joined the family business of pharmaceutical manufacturing. In a delightful conversation, Harshwardhan said looking back he is sure he took the right decision then.

Q: Tell us about your journey as an entrepreneur.

A: I am Managing Director of Navketan Group, the pharmaceutical company my father and union Minister of State for Finance Bhagwat Karad and uncle Angad Karad started in 1996. From the beginning, I was sure that I did not want to be a doctor. I was inclined to join the family business.

Navketan has two units and makes pharmaceutical formulations like tablets, capsules, liquid oral medicines, creams, ointments, oral gargles and sprinkling powders.

Till I joined in 2009, we were doing job work but when I began handling affairs independently, we concentrated on exports. Hard work of the team meant that our endeavours have yielded good results. I visited more than 27 countries in African continent, Europe, United States and South East Asian nations. We got business opportunities in eleven countries including Ghana, Nigeria, Kenya, Sri Lanka, Myanmar, Cambodia and Thailand. I am very satisfied with the journey from being just a factory to a complete business group. From 16 people, we are today a group that supports 450 families through our business operations.

Generally, it is said social work work should be done after retirement but my father always maintained that social duties and professional work can go hand in hand. I am a Rashtriya Swayamsevak Sangh activist and routinely doing ground level work for people. I am an aspiring politician and state-level executive committee member of the Bharatiya Janata Yuva Morcha.

Q: What do you think was your major contribution in Navketan Group?

A: Pharmaceutical manufacturing is a game of 20-20. One has limited resources, space, manpower and time. Pharmaceutical is a capital intensive business so operating expenses have to be controlled using technology and enhancing efficiency levels. I strongly believe that businesses are run by ideas but behind those ideas are people. I think I am fortunate that I could build a strong team of committed colleagues through solid training and imparting technical, managerial and marketing skills. My team now runs the show though I am working round-the-clock in a different field for my city.

Q: How do you see future of pharmaceutical business in Aurangabad, a city called as pharmaceutical hub?

A: There are more than 75 registered manufacturing pharma companies in Aurangabad working in manufacturing formulations, the end products and also bulk drugs that is raw material (active pharmaceutical ingredients). We also have a well-developed packaging industry. There are multinational as well as Micro, Small and Medium Enterprises (MSME) with good human resources. MSMEs also have expertise to market own products in domestic markets. There is thus a huge scope for further growth in pharma sector here. We are striving to form a pharmaceutical cluster here on the lines of auto cluster to aid collective growth.

Rapid Fire:

The person who influenced your life: My father Dr Bhagwat Karad. He hailed from a small village, used to walk 8 kms for education. Marathwada’s first paediatric surgeon, he could have gone to London but came back for family.

Hobby: I am happy meeting people, going into masses, reading and travelling

*Favourite book: Biographies of great people inspire me. Biography of Dr Keshav Baliram Hedgewar by Na Ha Palkar is my favourite.

*Favourite movie – Swades

*Favorite food – Black rassa of Aurangabad