er. SHARTPRIDE HIGH YIELDS Technology is making inroads into the Indian farm like never before ip and a gold rush of start- ups and venture capialsts “ underway. But can they ‘make areal difference worm economictimes. com | New oe 20 July 19-25, 2! Kishore Biyani didn’t become India’s retail King by playing it safe. Soi, But with the pandemic | politics ss x Dorin devastating retail, the | During ) debt burden has left him with few ‘optionsTax Boonen Tons = 02 zine what's news uorcBankwwne | Govt Lists 7 Chinese Firms with | 2/7sclsc! Rises20x | ‘PLA Links’ Operating in India ‘Audio Clip (ase ternet proirose 20%, dren i theee fold apie treasury fins, bu the bauestbank by flue warned tet the ne tse uncertain de to Pac Ingecomom acivtesDeause of cowat9, anda ikey pera uralchangsinpeopeThebark ‘Sid defaults tod provisions ‘ald oetatheconiagquarers MDPC Banks net ptt rose 10 os8crre, ome 8 crore lee ops peri i lie ‘aleged rector nde ins whoo pies bran Amy PLA) forpoeatal scone ye company of MG Motors, whicsels MG Hector in {eEL OncoftesbnteviesefSACiaNangig ar tompble, wich was predouly avehteservicg ‘nlto LA "tie rea det question mask person familar withthe develop- Ientsald. dana chines ve {ure capital investments in Idan companies are unde the scanner ‘ie tomupicon tthe bent of ‘aan inmraon mig Se ey Ghinasdefenesectoe "The seer comps a ie eareatler Mrovsons bad | edare alba, Teoeen, Huse, Ksnsandcontegences surged | NindlaStdo Ld (emadeed scone to CAM core, whichin» | of thelist ventures between ‘ed 21000 crore for eon | Mae chuna ing cata fences, Treasury gains more | terutlonalGroup stichassetupa funtepledie.s0Scroreasthe ‘overt inbond yiede 0 ‘hens dahingofinrestaes espe ba post proie Ne Irgeret income revenues te or daposts re By lsk wo as.esscrore wom 2M, Scroreayear apdrven ‘manufacturing facy In Chats fe with investment of 1,000 ‘on, Chinanteco (Group Corporation nd SAC Motor Corporation ned (rcet of he ‘male fe popular MG Hear SUV nin. ‘Chinese Wrvestments in Ind ‘ladig nares the Abas sd ‘Tencer,” an ineral goverment roteomthesijet sys Fee tang |The develope comes afer {Gin imeracund’ New Davbanneds3Csiee spe ‘oun. ‘The ChhaRcoomic and Sct ERGOMS elon fy Revew Commision cog Gow ComEETEN Sonat commision of the US ad ‘aide Cinee goverment mle {ancivl fsion poly aims tospur anovaton and eeonomte growth tteoughanarraofplicesandoth er poernment supported mecha ‘sm, wilelereradgthefrts.of ferme sector The UShad in je pt together alicfsuchcompis Incemal sade ofthe government in 2018 ad eae a Weave seoed ion some companies with shown th sme Chinese lvestors hve abeady linkswi heChinese amy butwatacion woud gained contol over etn nian Startups by co Saasme Seantotacsa sneer cwwturou | SCM nnerten ane He Pare ‘snare torent ping Voda Pays 71,000 cr More Towards AGR Dues Exporters Micon wien 503 euneit Teteicainonns | Saemeisiineniewens cucubepuiett Sietopasietasasee | Shoaipesttens sbi tet benpatig ‘heporermentn sve showrense totes “iky exporters” who ve ale aed efinds undertheigrtedgods ander wees tncroaeburae untraceable owe "Thegoverinent nd ‘berprceantbemaner ime ste iuthem tutask ease ‘ts. do notespond the ‘eFrehould nine ston at Pendicanes thei import export ‘de making tbem felgble or Srther expats impors and au thovaesthould inate proceed pqanattietorcser ner ‘mentmoney" EDs ‘aking toa amour pido he ‘Berne arto 7 Aetcoe “Thecinpny etey e syip203) pad fares oF 1000aeretstheDoTowardshe GR as. Thecanparyhaearer epost 2,554 crore nthe ‘ances The company Bas hs [dan agregae amount of 7854 ‘ore towards the AG es," sd ‘hetsenina reat rg onsat ti, "The payment come a fw days ‘hecase on aly 20. Vt bas © yard 1400 rere dest ‘be Depanman of scanmunic Cw rable phone opertrs ke are [AncandVILomake some upton fyneat oan srl hes, before eg alowed fer beret ove seve yeas Tt, Sethe wp cour la a pre (us hearing asd eos mabe ome upioat payment tesa of fy staged payne plan Both {aestae ldhegemmentand ‘the cours that they fad pid what rer they cal sponta "Kian Lessee beaflowed o sage the ance piyment over a maim of 20 peor Team, dea Supecinen (Exrottokceof te taal ‘wstigution Department crime ‘rane, has bo constituted Investigate the mater ltd © ‘ajsthan pola ess reg’ tered by the Specie! Operations {Group tn re, das ofcon- eatnwot reel A Barwa [al sharma eh Say Jinan ‘Union mister Gaendra Singh ‘rementione Whe the Com. ‘gessalloged tt any asa {Bi leader te str party ted the allegation sng he dno conmecton wih he. TnNew Dei, te BP asked it the Congress gverment in Ra Jt root “uncote Sonat meteodstotappoesot pollens end demanded Cl Point whattealdasgsot New F-T Form toHelp in E-Filing: CBDT New Dei: Taxpjes wie able ‘ofleter come renee ‘Pony it nck ar is {ng oh te Fore 5A5, we ‘idan aon! cesom tar ‘nancial amactone In Part ‘hat il be implemented fom 2 sessment year 202024 whi tbe ‘ego Bact yer Te new Sia aes vomsery com ‘ance aracounayandse Stedling overs mapas beeanreald owen Hackers ‘Manipulated’ Staff to Access Accounts: Twitter pomadonFridy. Theyomghadien amy {esos servo went be nane in Sedtheadenewahstussgeanduastaone ‘ih aces Twiter accounts. The acers ‘ueabed ey topped muller Washington Twine yack manip according to Mlk. com, which ov fected account and ef omecfisenpoyastexccssaciunsn moalerserpavanacias, ‘moved the aude, ‘Rigeprol stacks hesedal eda cam We now that they acesed lect accounts nck ‘ary induling bse Democratic esider- welsonly avalblet our ier ‘Mfeced by the hack 2 {hldallergere an andtecheneprenearalsuppertvems tae 30 ‘resuton Mstetose Bonk ‘Teter sane havenowen ested, Posstyingo dope peopleintosendngtbe ont ‘eaernidenSauy, leche wen ecndy bec r¥ lg Port toe 3 “Testa anc (Gun hehatenwireaier reetpaswards og andsend {ety ade he the pe. ‘Sal data op tclauneid ‘eer wes dowtladel Titerloled cout aoup ofan tHends one wha es is ooter=wib take wo stator eranced cole Tene oT for Kit when ig pofieusers became ar {tThehad tassel qustonsdbout Tw fers ety a ere na ewapne or potectahedofRovembersccton Ft {er sid ising the inormaton takes bleu whet cadena re ‘Dellaion sips" wsxure teste, and Tang cophyenagintachatenp “ARPWith disciplined execution, Mukesh Ambanihas turneda petrochemicals business into adigital behemoth designed tomeet every consumer need Sriram hee aoa ine when lacked the Rear decor ‘tageraut woulJsteteanrol oppoddonandeonqaxt Greyrhingin ts path The ndscapelooked spe and initng Competition was weak andseateredand they ‘viously dit have the Mell muse of elance Industries Lad Ly no aithey Fave he product sex ‘ce and pricingoferedby the Dirbhal Aran total company. Relance ws fering fe ncn {ls roc bortoramonthy rates and ee phones ‘Senior an an paymnent tht cal upon ‘bia some of outa ready nowt sn oti shout the ear 2016 oF hela off. The 2002 launch of Reane ind Moblle promised very ‘hing that fo promise in'A6, Cheap service fe ore ‘rely To rced panes massive bandvidih aed aS ‘eration dominate themariet. Te sagewaset the ‘Sstwasreody nal treated wether low ‘Sbedelered Tel happenin2002due‘0anuber brathers~Sieshand nil -on the extents inte tkcombnsines and lod towninbiyto pin aelacounr rate problems dar woudarsewiapid ‘Sgumsionandscling up The hh betwee te bros ‘eth susequent breakup, withthe elecom buses Ingo Al ended sory and looked asi Muses A [ans reams orepcaxnginteeco, his he's sucess intheenergy pesochenical busines, Wouldbe stor. Sowhen iL-oeumcedeanier incl decade thai wad ence gia rant lose ad ‘ter mobile phones and high speed tondbereconectviy ied tore 2 hight scepeeal inveor eon pective JULY 125.2020 Consmersand inca aweneverdcak rey ‘tReet 2010 Depending en wae you Fed, Yor migh have bought ck at an ETL petal usp OF ‘Moppedata Vinal butthars about kwrba bust cateredtoctherbusnenes, Pivotto consumer Buthislastdeeadchaschangedthingsso dramatically for IL that as consumer you jut could sridRelnce Rellance Trends ora Reliance Digtal sre, you mig ao have bought 0 Servoe or aHoFT dongle. Now, wh ‘People preferred to waitand wareh, un = Mukesh inherited — obtart, the online shopping platform, Stetertoniddsberasitergan, 28Featbusiness Seopa owen brokerage reports refused to ascribe any from Dhirubhai_ “The over @ lakh crore fundraising by Gheweldcomtanes ttiei andeouldhave xichSiyitlkacasey Seugepeaettegas mumitwithoutany — forlcgt hasnt sty ‘Sock Youcoukibayitburbesuretoselit —MRAJOCHANGES. — fring to tulcand nly some too, But ‘fina fewdarbeadleddsmisiely. | Instead, he chose wisifogsssccsiom ary cfg vcupieiueisicomecysy totransformitand te nlite node Wa business, the widespread consumer a¢- getitcloserto Racebook and Google. ‘cepeance accompantedby die-deap a ordinary “The posablies ere are viral lime Takeerreccaaecay (SEY yan omen santos ‘ons about the telecom business Fund manages rushed tobuy the stock while andupgrade numer abou the roi (yee elec business ua seas dared bythe dats revation ie eadhed by RIL price war. Daa not ny became the nee titi the new gol sacl mec and video wage ‘exploded. The contrast wth 2002 could not hae ben (genta. disciplined, mehodkalroFoutand exciton Stood out instark entras to the chatc and messy ap proachattheturnofthe cee Ager contolon fa Fv ped RL succeed ths tine aroun Sa what doer lo thissncos inthe rou lec anual bres menor ou and me! node werd, owdowsthis change ngs onthe round? Toanower th Intended mect every eorsumer need. ‘rnd servoes, vdeo conferencing, fn yountmek anditsatered. Prom sally plies petro chemicals busier, Relance has now become done stp shop lor every naan fr nay every thngtiatcanbebonghtontine Mapthis apr the pote talconumerappetteover te nent decade andyou Tit idea ofthe sae ofthe opportu 'What Mitesh Ambar has done suse RILsmasve sourcesand fundrasing at to vestin a techno ‘alvsupenerbacibonesndereae ages pore as indispensable to people’ ves. Tes dtc orephiate tecaltolfnescelivecmentand he yeriastaen ‘oaccomplahins Compestion sth mime oad iLhave aca power foundasonto dominate the ene Thi: Bee zine | 03 ‘Great businesses ned toe constant eve nate Suites, mses corse pete ‘ndtwchnologesclenchargeand evolve. Com Panes often become wea ot becawse of one filer preductr techno. They become great orsuccessl because asteady seam ofles ders eros generations ae constantly valved in Tullaganerebutdigtemterie ACL didn Procter Gable 2000%, S32 Nadel doigtsin erst now anda Jamie Pimon nd mes Gorman JPMorgan Sudo tne. repevely Muka Anbun nbd arent uss om iether Dhiba and couddave continued © ‘nitwitheranymajor hangs Insteae hose touransrm and get it loser ordinary com sumer. He may have vel proved with the foundation to dominate he indian business blsapelorsntherdecadecr moze Tablet, Mobile Ransomware Protection npav.net 92.72.70.70.50Ti: Reon Ts 04 big story su 1925.2020 SMART FIELDS, HIGH’ YIELDS Using data from sensorsand satellites, high-tech firms are giving farmers precise, actionable intelligence about their crops. Canit eliminate uncertainties in agriculture? = Shelley Singh angarmesh Tot hasbeen farmer for 2oyextandlswellavarecfitetnprefcr each season The 40 ead abo knows ‘hate batouses ml traders nowledge acquired over he years and ‘modernimetods ota hei be faces every seaon. So when he heard aout deploying Ineret otis 7? technology in farming Tako! di not et Tn March, he spent 28,000 to plant ‘The artical ineligence den lor foe Benguhrbced agrees sartp asl early relays informstion oT lows Smarepione le ges updats on went eit the ed when rape ‘ops, what te risk pe aac nd where tous pesiides. Tako om Dressed with hese tat he now Tend eohutll sors crow iso 3e {Grmwherehegror paps rn and drums es eget apy tht bis fate oe ere Ins oe arabes anymore, alanis to Fas "The startup, wiih has 30 employees, ‘Shupenaraarmar,3f¢mar in Dre chatsgarh as deployed Sensors on his 10-acrefarm fr ‘serigaton spray scheaullng “tries to take the guesowork oto frm ingens Arndale CEO. ‘tha ets on hoc sng st snecenginces pubes terete apersandALeparsstartpsIkeFas, ‘ebm Gopnandodies ct tar Thesim pene Tomake Sanchar te idnot poly Sections fargo, Smesermorsn cm Should by ine lots Sen pratyut Borecok, inpriae 1 channels Rae masures could cing ad te Fang + crges LOIN and FM radiosand show govt ina good lant “degree Faheenbeit were taken to Negron, Asam loch tal me “Tagrcaciane pala partes” wheter tou tet ct angpar. emacs COP Rawat, rnc EO EEOFE - provngfodtothe icraynhssanr ah Sacer tecton Commissioner ‘freerationunderthe needy. holding ton eththebrst mao sne 7 heyearthe SeagUan Me Mumalictor tconeansilinos nea "ormer ChieBlecton Oomsioner find, 0? ahaa ana UNA or sehen todoormasscontact So" ihsrean model condocketone: Agta crore —PamTamme IPS —Seiycampaign wort wort in nd, Neca nla Nociposeheernolis policalactivities —feadstoensrea leet plying orth ral No.of pear households —haveonly increased sadoppstion parts. Accra daa uringthe Cid SoutSscrre curt o0 core wc nda chemesinagnidune. period. Congres dow there comes Ltvauan ty he the prowess in coniing he pando, Pt en perial Gongs, becomes dg ecionc Sia nntessrsineedsivurathene oie, couldhavedonelt, | Rpm iemjeiyetiniamecayeingh a ‘eth sales re 16 of hem. The congress ues only 9crore ‘Gittomake an informed choice,” he sys, ading ‘GreeandisapurinerintheMalurssitrgoremiment. No, offarmersinwhase #28Femained ‘atthe government shouldbuytinesiasin pete ‘Senior BP leader and Union Minority Affairs Minister Dank accounts total of irresponsible and ‘television channels and FM radio stations and allot trots hve sped tee chor Dogan adlng deposed a es ‘tuned st cccdonesoastomle Be God trots he sped es ana cae. Ke ‘cette lat decor esto Be Gd SStuponclarsoppelbecoopesimspesangs Uweemonthrsincethe MUKNGYABDASNAQI, neces esa Sint praganne “whats te povdog rd Teckdown Slee metamn "Newoveioaartnun ® Deeds bolingvitalrlicsor ektaigadcorte — SarcePmeumiarsomee nr fornory ara eaanustraatnergcoPlane Facts ~ 1n2017, oman rece wrascnbe he oso acer ln ne tart th yoann thy ester ty ieanaaicets saroco "Bsns iat aha oer sar thet naepisesoras wet ne now es wet aa {chino nby cuted clears irs cna oh er ena flown entire aaron fh nies ‘ewer hash cannts trusts few sures ea we ets srr wet oa ete net yea yas oe Ten yearn september 201.2 nin tranad ena ning rine eae nor Shep soon, Trseousa teeta ene seco meron {rom n90 tana nds ied . Ultimate \ Treasure Hunt isre mites an | rare | ratonare at eater santa Fe US devised a ut or ease wort abut $2 lone gave aye cuesina versealongsie amapin nis ‘eiepalshes mmol he Tritor | «tne rasein 2010 counsess pele |" tea ern some even ost te ves intestine ces ed it od rues, gd ors nd Prec ams wa ial fundin fhe Racy Mounts tis yer =n the vry Sot whore Fern iad urea Ieioyenrsearier ty aparsonwne Cecinered the pm ad oowed them. Taperon dant wart reveal ansafre nsteaa sent enn Apnowoeragn of he ressre Undersea Bounty teas conoored ne nly al of shiparecks wit ol sve mera wor over $17 Bion. & 300-year-o Seansh stig snk 2 bate win Brin ves 708, fring he otto wits ease, ‘etre the rtsh ud reieve The shipwas fay fundin 2015, tg anunmanne water venice Butte dicovery pared asl ‘ver who crs teins witha stim cming tna ound he arco seas eer ‘There caanot be better rein famiy in Naw Yor pce pa white expr hey pt tu franco. These netted tem 3 oo $22 millon. ‘iis Beene TM spread (riagazine) 11 JUL 1928. 2020 Dream Deal oan a garage ale for Sn 2007 Fv eas aes, on the ave of The Do ttre ou was extn ob ver 1.000 ears od, 8 Sbacimn of cise pottery fon Northen sone dynasty. ¢ Army & the Man ‘~ 574 er Yang Dita reds re stein selina parce prt torus mente nearness ve 520) yearol edt tana amy of hvac ot Test trac mars gan ean ot eget O'S Hones an a __ Ship in the City Finding sonkan stios on he oxzan Noor righ exciing trot uncanmon ts ‘alotmaresrpisne wnenyou se tin themicae of Namatn. 2010, workers excavating site for tenet Ward Trae err ome upena rw ot rig timbers Rte outto bea "30 woos hub vse rom he 17005 wn na been Wing uncured | inthe cy eet over 200 Years. : sal ge Weg Sak A Walk to Remember ‘Acupl in thei S0s were waking ter don thc lca beach northeastern England wien ty saw someting ural They had stuido he reals ofa Word War Walraaft whic radbeen covered in sand. Experts Lice tas Bsa Bouter FX which had crashed in 1844 ston ate ten It was a blast from the past. Recently, a restaurant owner in the French Alps chanced upon Indian newspapers, including copies of The Economic Times, from 1966. Revealed by a melting glacier, these are believed to be the remains of an Air India flight that, crashed near the summit of Mont Blanc in January 1966. Here's a look at findings that Were buried in mountains and under the sea and even hidden in plain sight: veka Aravind Finders but Not Keepers ‘Aman wo was ign te function fr sre noose n Hardol Utar raesh chanced upon svar and Jewelry estimated tbe wor 25 Unfortunate for him he hstoturn overs the sures Inaeerarce ‘with te aw When te pe tuned up at is dor after ews of ie acaver spread vogh ne Vilage, he ran Ia ceie i ut ater had to rant ove. Hidden by Design R enaissance ‘ormantorwe rs ters ea, Survivor ‘pers were puzzled bout ne washes ot Conation wasn The mystery wassoWved ten he cartons corn ried 3 3p {hewoos paneling foe ofthe was of is house When they shoved sce sid pe to reveal be oral ciel Re ‘ren smised rat copy was mace and thera hen to prevent he tar rom Feacing be omer estranged wile. Te / Dalnteas fay ster over $15 mon OO ‘sun blip rng the sonar survey fhe ae Soa h2009 gave a into someting unexpected ny cenths ut woul ea cicade before cea plete merged Rebtc Cameras owared oe seabed eee ast {at Was DOU 500 yeas od ut reserved in rermarabl conalon. Teac of yee nthe icy water ad preserved he vss, bout 6D feet Tone, wnkn wot have been sang round the time coumbus wasn is Voyage of ascoery Sauer warren Pos 00 ena ace, Tes ana Che SENSTin: Been T= 12 Magazine cover story su 1925.2020 Final Offer 6 Kishore Biyani didn'tbecome India's retail king by playingit safe. But with the pandemic devastating retail, the debt burden has left him with few options Rasul Ballay & Sagar Malvlya 1 January 5, 2018, Future Group CBO Kishore Biyani Walled ico the Pour Seasons Hoel a Mumba with O22 iat commie Farum. Try wouldbe nteviewedan Sage rape! ison cs fly sess, Ake abouc hat busines sore were passed on om by bis thee alton towhesenior yan ddnotapprvetaomedl sways“ MY father alwaycursed me because cae thes rns and sate orrowing Hesaid we were airays Tenders and'we fever borrowed” The Bijan are marwar', community now, Feemoneylending wihataccomparyingaverion to det. “Mu ve doy aiden" erewe remake, ert san aeconpishmentoresiec "veleareo ‘eherrow: said yan reryonelaughed ‘Wither borrowing Bon okie verte pain reallempe thr bFuure Group —wili700-puscuset catering ‘indifs msauuble consumer pelt, and 70/000 employes in Tleoverdnee decals ‘But borrowing, andfrtousexpansion athe costo nancial sa tity. lo what tipped up ayant whe seals oa deal with Mules Ambeats Ree Netal fortbeukimatesaeofistfe the fits i's boss bustotes hae Concated bt of {80 crore. ter group companies deasted mn epayments a March, estock pie crashed, rigging margin calls rom ners Iain peemoer strcholingseureacebatng ec sede poston pushed yan tocar he panda seled Ins late ty potential bayer will dea ardbaguin, knee ‘sgoup wl Ends inacrssutenteloan moratorium ceases t theendot Angus Theman whe hooked nda ono eal bags ‘slave ono ardor ago dealer mee How diya endupimthsetuason? ltacren wtha tbe offi carvent and former ellagues sndteoaate revels picture 03 compleeenzeprene the Rise & Fal 160.65 Fuiure Reta Figuring Out Future Group ™ O7as CorsateneritCan _CansalsedReverwe Consltedrott_ Cmsliteest 7. GiL838cr %36,566cr %BS8cr %12,989cr snow 111.10 vee tere manetnetataneonnst is Senatnmenanewionarecesisooumes ——" AEZAZOIE 736.2000 What Worked for Biyani What Didn't Work Firstmover aovantage starting eSlg_SabsesasteDinot dep Ecommerce nitive, which ooped Bazaarnypermarketbrngingeverything elcaunting from food to furniture under one root ‘Specialty stores of electronics, home products, shoes, fashion ‘duet its sheer reach ‘The leverage group enjoyed with malls and landlords tspread itself thin by venturing nto non-core ‘inancial services, telecom services, realestate expanded businesses with high levels of debt“Dip Roxiae Tours = cover story Hiagazine | 13 uL¥1925.2020 Growth in Stores Future Group wentonanexpansion nd cquston spre ate sang Partaioons in 2012 From s0Ostors across 9brancs ee in2013.now itopetates 1 739star, Nee con tt ys rang . ‘ton, Afew years ag, he was talking up his 1850 ltteers ie fe prey WER pa aro Blan decinedtobe cervewed forthe ear, 5 ‘mal (meaning high margin) The group ‘dation withina hamradio S000 8 codes inthe country here are about ‘2D.o00pincoes ina stage estore win 2h ofeve- 2y consuming Indian and Have at east 10,000 real doors Byte endo 919, is store network neariy quadrupled 1,340 ‘rom 450'n200. "It we alk abou mind tomarke, hes ery fst. Anything he wanted to Joe ould deer very ul. remember te time when mal were coming to indi and ‘Kishore sid be wanted a have 100 mal ‘Athacme,be ad hr Bll heading ‘oreaetateiesment rand watt ayearthey hadsiged up 100 al", 153 Nagesh, noncececutve chalrman of Shoppes stop. though Reads fal re tal business, Rapes sys ie has mown ‘Biyant since 195, and competion hat fashion etal busines Pantloons tthe ‘ever comein the ay thet bende ‘ayaa eo o pare debe hat had “this ality todo things fat wat a sxc that so became Koes weak eas comostofit wasnt backed by Bn. 507 875 6630.3 668.1 Man etpneroetire aaah esos en momo . Tatiecec afte rops NOVECGECAIMA pledge F coil > 453 929 «687.9863 SNES dumingwene shen i iihiebyerse wieladdnwn ids RCo ransouvers » 479 97.6 BBG. ‘romours who berow agai thelr GMls¥eyngecrasuicent cat for > E chainsoivtons 5 ret ‘Tachurepicemprup re problem's Madcon talks sipemaries were st ie erceae » 7.6 979 224.8 30.3 ifthe sock price drops, the ender de. andthe oherhalfarcugishsacs : mandsmorecoiserlorcashtomakcup Maractwatcersand peopl who Iw pPuweumeave ase 998 aaa 2a4g eras meaty sulle tethered oe 2 asnions y Tatre Rotts oct plummeted fom canemdebicras bat rtneCon open 5 crrapicenead feb otetnmoah demic z ccnp TET) 2 B56. mm fimehnsecine awed “Ono beuary mc, wh iar = Fowl 3841. ture ieayies sock cased too-fiom wih ler working of Future Group, a se ntranogea ets amg [SStiaaee een Ap Win come SyManl ala melts Bneler pur EERETae Fecsue Tir 14 cover story {JULY 19.25.2020 slags anbison. ring the dee ger "When theo thecompany doesnt son dilgenceinevewing pertormance, ‘owntotherursandbot then that sthe Irate (or ruble, hese, onthccon on of anonyny. "Tat was is way of ‘Soin ige He anedothers octane ‘ebt bitkhadthe abort wihourthe ‘Sunny Ths lndangents ess IMikestursofaraalleompany a lypod ‘eatedia aban rom where youborow ‘money to buy stock of goods, then ts a ‘Ready ndeep ute “Croaey realmst ‘nom negative working apa, KB was gdatmakngtrandsbatoein cumming ene" the peso as "There are cre eraicisms of Bans workings ‘resent and past serio excess who woed wihK a Bj known among ‘Bends and employees sy tht be oper ‘aes Ina dtatria fashion, with le ae ountbiywoeer members ote p= ‘moter fai. °Some members of che family dia't soreraurecoiptoespanlino es ‘muchdebt They wanted he gro foci (cco aren cteeall Ba Kore wt =‘ puuiarch and overeonldem. so, bea ‘ways overud them. Rapid expansion ‘was adapt im," say former CEO ‘fa groupies on endon of a- my. ‘erie Byerieasborin Sinatra {ma fay that was int abe ‘eelng busin 1 967, atte age 025, yank verse his amy buses in ‘eadytoear apparel witha ‘el ormedi, Mare Wet ‘xt Lich and ounched Pata Joone forms rosers bra, afer changing the name anealoon Farhione (nds) ad took company pub- ieiatoon Fryers yan Iawhed is esdviadetrowas tora ‘elles and persuaded them {stock Ptloone wh init ff sucess. By then he had ‘eared that ifyeu wanted strike bigyou most bea cee general insurance. Hetriedorepicat tht modein naa by rolling out larger Big Baar stores Sued with food, gneral merchandise, {aation home products sation tye ‘tnd much more. The Wea was simple ~ ‘Swot tothe ore quent on ‘waaly bei, rather than emtomers le Ings store oncein two ree montis Duy apparel or home prods But athe Sametime, he Sores wed o imbibe the ‘hacticelemensoraningian bazar, Wit {garments sewn around on racksandthe Sonate ring of snuncemet Toudepesters an dea so ha the custom rsdn feloutfplaceorgtincmidted Shoppigintiouers ‘rene jel waeroling cig assur ‘utes, he branched tao gecalsed out Feisorshoes, ectonks ome prods {nd various mate sopermatiesand cer tore, “Bazar actually drove the we malbretion tryin (Ba. All al onmers wanted ig far deve ocala verall fallin Indo He belt fd astute strates with 3 tear heart who genuinely Corer about his people ad footer utestha actully ANU) PUT carmen. partners," says Ant) Pu, slomenedandsold oducts ay3s00X rcperythalrman, ANAROCK Proper: foendeonsumer.tni7zhe carats Consults, who has tered ret by aunchngan ‘onked with Bian! for ver '§000sqftPantaloons owen BOyearsand hasbeen prt of ota Insstoreexpansion plan since heb “ThesuccessofPantaloonsprompedBi-ningoflastdecade. ani toset his ots on thelarger pie of Tilia etalng, ane wena ‘sping the Benfi ofthe economic re forms of 9A ange middleclass of con- ‘mers were png up everthing from ‘mobile phoaesto cars Halle out lg ‘enarsoresin quckovecosion The ‘Bazar stoes typical 20,0005, sold ‘ot justgarmentsburao home procs, Daring ists to the UK ae the US, Ban ‘adie the ile Walmart stores ope Sted by hi dol Sam Walton. Hes 3 ‘Toco latain Landon tatapreviodoree ‘more th 180,000 of — or more than {hee tne the seo Botta dd = ‘tht sold everything rom fod o fun fue and lrom general merchandise to "rtheman who demonsrsted how to scabedernvealiedianeersanaged tocrackecommerc evens Figear bal business worth over $2 bllon inst Shoutadecaderigit in fonts ‘was forlack of yg tough ‘iyanlnunehed eemares store Pu turebaraarcom even before Piplart in 2007, followed by Big Basar Direc 2013; whichenabed casomersto directly plac orders with appsnted Big Baraat ranchivees: By 201, bot formats were Vibleandless makingbusnessmades Trent Bbanimip lve pe ik Biyani's Journey toer started pataioons Brand omens toma tosers Ase Startedhisretalling ‘venture with Pantaloons stare In alkata aooss Launched ig, ‘Bazaar stores 2008:Rolled out mega department storeconceot calles Central 2008: Big Bazaar initiated Sabse'Saste Din dlscount Drogramme. Launched HomeTown, ahome products chain 200s: Rolled out the 100th Big Bazaar hypermarket 2012:Sold Pantaloons to ‘itya Birla to pare high debt aots: Acquired BhartiRetall ots: Amazon acquired agestakeinFuure of Coupons, the = holding entity of listedFuture Retail Thegrounis bogged down by high debt and record low sales amig ‘the pandemic weight ms hybrid moda, combining ele {hee RetalandfoNert, ‘Blan fscme amazon sfounderJ Bezosat maoor’s Seat heaquartesinfaruary 2008. Beaoswassuiceny impressed wth cat sparceyianttowsetoacqureamanorvsatela ‘inure ough ora porto ‘veto route by Janay 2008. But Aza fn toweat€3.000 crore in Fura etal as ‘opardised when the gorernmenc reed for Gen invesoment guidelines n Deceiver 2015, ‘Shingecommerceenitescannotown staresin companies hat sons platform Ag Tisyear, Amazon ally agreed toaeaure ‘hindrectminaay sake o en Pr ‘urea by prongs sake ‘Fre Coupons, but the vest ‘mentofLs0Derore wash he inisaged amount, somewhat de ‘allegsyantscalaalons Personal Touen “Those who have more ety wih him vouch orto things ~ he does safe oandbetret isemployesand ssocanswel TF ojenit ce, iscermin tat at eet S sifinhonsfled wthhome made food wilartve “fh executes whom wauldbentetng ‘eoceanddurnglunchbousand or obs. “hedarire people, weve rll” asa -utue Groupmettothatallempoyees, present nlp ay reflected ayant spyroch toh ‘man resources, He woud remember names of ‘Sch ofhisstore manages desple having ur ‘red ote “hearrent employe, who hs fore: gone salary currently sparta Sere, pnd ‘Suppor. The mahaspaldan sary {orto yeas. happy support on forsixmontiswithotsalary,rhesays. ‘when Future Groupshitedto thle newheadgquarters in Mumba?’ Vite Toll suburb a decade ago, is aT a Ireatadtnoelestorsjnt top Sgement and prometers. ian, om the stay tel personaly removed pot (and barca. dada sand fr sock di ‘Sittosh Desa, MD of uur rand, abrand consti unit the group, sys Bijan’ ast ‘moving, ike noprisaners approach part of ‘who hes, “cries ie heir own perpectes {ha think atisnecan ently uf ango Sp Mj seae hat chs hat he kves dong ‘hiss the game he playedinowingtat he wat aving tat game He ot he Lind person ‘nh wants dothings by pling and com nuingtoperteandchioa bby. thats Sotthepenonte ts” ‘ages says Biya woud walk:the streets 0 gem consumer shits. says whe other re ‘ies hired expatmanager, Banibelcved > ‘Ganctecuthescouiddelver a welas Theeapatenntepars agent rcs tevin Biyani on stage several nes. “Trementer sing ff Misnensctoner ‘ewhow hegetsiscoo. al ‘Sumer insihs 50 easly ‘She ave to depend ‘onrescreh Hie mtn reply was: is becuse you are an MBA wile T ‘kina eporing hy written ‘SumaLayae emahpaptnagapaat