When we speak about India Inc and homegrown conglomerates that have done the country proud. Some names are so familiar. They come to us instinctively. Godrej being one of them. Founded in 1897, the reins of the Godrej Empire are now in the hands of the fourth generation of the family. When you inherit such a deep rooted legacy, along with pride, also comes the pressure of living up to the name and enhancing it. On this episode of buzz by the Bay, Anushka Jagtiani is in conversation with Executive director of Godrej and Boyce, Nyrika Holkar.
Q: It’s been a year since the Godrej Family restructuring or breakup. Your part of the family is in charge of Godrej and Boyce and the other faction has the listed companies. A year later. What's your assessment? Do you think that it was for the best?
Ans: Yes. I'm a strong believer that, you know, everything does happen for the best. And it was, unfortunately, a bittersweet moment. But in the think overall it’s helped both sides focus more on building than breaking. I think that’s important in terms of where India is today And everything that both sides have to do to build up the Godrej brand and I think there we continue to work together.
Q: Have family relations remained intact?
Ans: As a family, our relations - after a time of it being tumultuous - it is now a time for reconciliation and healing.
Q: We’ve seen a lot of family business break ups and it can get pretty nasty. But how did you managed to keep it out of the media glare and keep it amicable?
Ans: I think as a family there's always been a lot of love. And everybody has disagreements and can’t see eye to eye on everything. But the legacy of the brand and what the organisation has stood for is larger than any of us. And I think it’s important for us to remember that we are trustees of a legacy and we have to uphold that.
Q: There is a six year there's a non-compete clause in certain areas, right?
Ans: It's in many different areas. And I think because, both sides have been in very different businesses, I think from that perspective, we operate quite independently. But there is a non-compete on the businesses that each of us are in for a period of six years, that the other side cannot enter the business with the Godrej brand in perpetuity, and can enter the business but under another brand after 6 years.
Q: The Godrej brand is synonymous with trust. Your mother is from the Godrej family. How did it feel growing up belonging to this legacy?
Ans: So growing up, business, was always, brought to the table. We've always discussed it. We always spent weekends together. My grandparents were very involved. And, so I think we always grew up with the context of the company very much at the forefront. And, it's always been, a very important part of our lives. And I think also as a family business somewhere there’s very little separation between family and business. And I think that's a good thing because it's important to, grow up in the ethos. Some things like the values and the approach to business has endured over generations.
Q: Which Godrej values really stand out for you?
Ans: I think integrity is, extremely important.
I think another important value is environmental stewardship. And that is something that has been there since inception. And, also takes us back to the importance of, industry co-existing with nature. Today, as we see, especially in the urban context, somehow nature always gets, characterized as a means to an end as opposed to, being something which is valued in itself. And I think, that’s something that my, forefathers, grandparents, my uncles, my mother, have always instilled in us. That it doesn't need to be a zero sum game and that we we can always ensure, that nature coexists with industry.
Q: Your Godrej Campuses are surrounded by a lot of nature?
Ans: If you see any of our campuses pan-India, that definitely is a striking element and something important for mental health, for a sense of well-being. I always feel happy to come to office in the morning because it's a beautiful place to be in.
Q: When you come from such a deep rooted legacy, there's great pride, of course, but there's also pressure to live up to that name. Does it sometimes seem overwhelming?
Ans: I think that looking back on history, I think it's definitely a history that we can all say we are very proud of, because it started with the whole independence movement and my grandparents, were very involved in the freedom movement and the idea that political freedom is very closely intertwined with economic freedom. Their objective was always to make India economically independent, create a manufacturing base in India. And, I think that when we look back and we see, the first lock, the first safe, the first refrigerator, the first fork lift and typewriter, they were all firsts for India. Importantly, they helped not only to create jobs, but to create, a pride in our own ability to make things. And I think that today is even more important as we strive to become Viksit Bharat. I think the whole small and medium enterprises which form the backbone of supply chains in India really have to, be brought up. And I think that, established industries like us really have a responsibility to bring up the rest of the backbone of India.
