“The OTC Industry in India” by Mr. Kedar Rajadnye

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8th September 2017: JBIMS had the pleasure of hosting Mr. Kedar Rajadnye, President and COO of Consumer Products Business, Piramal Enterprises, accompanying him was Mr. Karan Sharma, Chief Manager HR, Piramal Enterprises. The session commenced with light hearted humour about presentations and a classic story about ‘the sage and the bird’ which set the tone for the highly interactive session which followed.

Mr. Rajadnye started with elaboration about the current state of OTC industry in the country. He shared his insights about FMCG and Pharmaceutical companies being equally competitive for gaining market share in this sector. He elaborated on the reasons of the same and shared some examples of successful OTC entrants from the FMCG sector.

Further, he shared the journey of Piramal Consumer Products, the genesis and their rapid growth. Mr. Rajadnye is credited for the consistent growth of Consumer Products division for Piramal Enterprises. He attributed the success to the passion which drives the team; he explained the notion of the passion to be derived from the ‘Hedgehog concept’ from the book ‘Good to Great’.

The session progressed with Mr. Rajadnye sharing the company’s vision for the future and emphasized on the significance of young talent for the prosperity of the firm. This was supported by the fact that the average employee age is 29 years. He shared the 16 choices which encapsulate the company’s strategic goals, emphasizing the significance of right choices for mapping strategies.

As the session advanced, Mr. Rajadnye spoke about the work culture of the company and why investing in people is the important part of its strategy. Further the students witnessed an Audio-visual clip of Piramal Enterprises’ unique employee development program. The program requires management trainees to spend some valuable time in a rural area thus understanding the lifestyle of the people residing in these parts of the country. Towards the end, he stated the logic behind the logo of the company and how it emphasizes that there is always scope for improvement. The session was then followed by Q&A where students asked insightful questions and Mr. Rajadnye gladly answered them in a detailed manner.

The session was very enriching with students gaining lots of information regarding the OTC sector and left with renewed zeal to know more about the sector.