HERALD: How has it been conducting business in the recent past?
PARAG JOSHI: It has been tough. There are structural changes taking place in Delhi but on the ground it is not kick starting as yet. It is difficult to access funds and the interest rates are very high. In addition payment terms are in excess of 60 or 90 days. We are working without generating profits. The plants cannot stay idle. The only industry I believe which is doing well in this scenario is the pharma industry.
HERALD: What would u like to see the govt do to help industry?
PJ: It would be nice if they could recognise industry as being important for creating jobs. We want infrastructure, we don’t mind the taxes but please give us what we are paying for. The infrastructure tax is a classic example. Adding taxes to the list we are already paying will not help. We need incentives and one has to remember that States around us are offering so much more ad we don’t really have much to offer. In an ideal situation, I would say, let us do our business and please do not interfere.
HERALD: How would you like to see your business in 5 years? Do you plan to go public?
PJ: Ask me this question in a year. Perhaps then I will be able to tell you if it would be possible to double the size of our business. Going public no, but I would certainly not mind looking for some VC funding at the appropriate time.
HERALD: Do you intend to enter into new businesses?
PJ: Not now, there is enough of scope in the packaging business. It is growing at 15 to 17 per cent. There is a lot of business in the market. We are a brand having been in this business for several years and we would now look at growing this business further.
