Business Today 14th January 2018 - Page 49

tion of world-class technology and learning from the best-in-class plants globally. Today, we are among the top three players globally in this busi- ness. One in every two nail polish bottles sold in the world is manufactured by us. This quest of pursuing Knowledge (Gyan in San- skrit) is evident across many of our businesses. Take, for instance, the Decision Resources Group (DRG), our health care information management business. In our DRG today, 75 per cent of analysts have PhDs and other advanced degrees. It is a highly skilled workforce across the globe, catering to the research and information needs of the global health care in- dustry. Almost all the top 50 global pharma compa- nies have been customers of DRG for over a decade, a testimony to its expertise and domain understanding. The 1990s were the decade when export of Indian pharma products rose. At that time, we were in a di- ` lemma as to whether to follow the example of other Indian pharma companies in exporting generic ver- sions of patented medicines, or whether to stay true to our commitment in letter and spirit to our multi- national partners whose Indian subsidiaries we had acquired. We had assured our partners that we would not copy and export any of their brands, and that we would maintain quality. We chose to honour our commitment and forego our exports income. We set up a new state-of-the-art plant at Pithampur, MP, to maintain and improve the quality of our output. Our investment in our plant then was almost equivalent to the sales of Nicholas Laboratories, which we acquired in 1988. One could argue that these two steps had a negative impact on our sales and profit- ability, but we lived up to our core value of integrity. It paid off in the long run when multinationals exit- ing India looked to us as their preferred partner for January 14 I 2018 I BUSINESS TODAY I 49