By Prashant Dongre :
HE EMBRACED entrepreneurship while eruditing in LIT, Nagpur. After spending sleepless nights and carving out his own business strategy, Loksarang D Hardas, President of Awesome Products, is now happily witnessing a turnover of Rs 12,000 crore with 600 odd employees. Interestingly, when the corporate world in US was seeing their balancesheets splattered with red during the first and second strong waves of COVID-19, Hardas’s company--Awesome Products-- due to its strategic location and prompt services to cater to consumer needs in cleaning products, saw his business kissing the ladder of growth. “Every adversity has roots of prosperity,” said Hardas while talking to The Hitavada. He was in city to attend ‘LIT Startup Katta.’ Hardas who was accompanied with his supportive wife Dolly, said, “The success of Awesome Products is not only because our employees are happy, but all these 600 employees had discovered a platform that is necessary to take in charge of there own entreprenerual spirits and ideas in a way for overall growth of the company.”
“After being in consumer products industry for close to 40 years, it’s not what you know that makes you successful, but what you should not do that makes you fail is what is most important,” he said with confidence. The challenges faced by entrepreneurs in US and India were similar during the first and second waves of COVID-19. India was able to handle the situation due to it’s intensive vaccination drive. Present Indian Government’s digital empowerment is exceptional initiative to grow the economy.
“The infrastructure plan to modernise the ports of entry, roads and national highways, laying of new gas and oil pipelines are just few indicators for robust sustainable growth,” he said. “The biggest change that I find in India when I left in early 80s today is the deregulation of economy. The people inclusive growth is not only helping the present generation but will create a path of grow for GeNext,” he felt. With regards to US employment, he said, the pre-pandemic USA employment rate was at 58%. During pandemic, voluntary change in employment was about 25%, but overall turnaround stayed close to rate of employment. “It will take another 8 months to restore normalcy in US,” he hoped. Aggressive rate hike from Federal Reserve will make foreign investors sell there equities in Indian markets. In simple words , the reduction in funds infused by Fed, increase in Fed’s funds rate will impact the availability and cost of overseas finance for Indian companies, Hardas added. During pandemic Federal Reserve induced trillions of dollars into global economy to prevent recession.
“In my view, rupee will devalue in near future as the dollar denominated securities go higher, and when money is pulled from stock market. This could help boost exports once shipping industry stabilises.” Hardas has also taken dive into industrial real estate market. Recently, he purchased 36 acres on which a 56,000 sq ft house is being built in richest Orange County California. “We are also providing rented warehouses to logistics companies, “ he said. For startups, he said, “Don’t be scared of mistake. Mistake is only a mistake if you do not learn from it.” Arun Lanjewar his classmate at LIT, Nagpur who was also present said, Loksarang had always displayed extraordinary leadership skills during college days.