 Mr. Sharma, apart from being an entrepreneur, is also an author. Last year he wrote a book called How to Thrive in a Family Business, which is based on his own journey. And he's given very practical suggestions. So if you may want to read the book, it's published by Penguin Random House. I had the pleasure of reading it around the time of the launch. He sent me an advance copy. So let me, you know, you say you saved the best for the last. We've heard that song, too. Mr. Sharma, first of all, let me start by asking you, what has changed in the business environment in the last 28 months? We'll come to marketing. We'll come to the role of health, immunity. How's that plank becoming? And how's the well-being and the health industry growing? But before that, what has changed in the business in the last 27 months? Specific to my industry? Overall, you can do both. You can talk macro, and then you can talk specific to the domain you're in. I think we all will agree out here that technology has taken the center stage. In industries where it was not so prevalent, it has actually taken center stage. And I think so that is the biggest takeaway what this pandemic has shown for the entire business world. Besides that, definitely there has been a huge awareness which we see on health and wellness. And that's how it brings us on center stage and the center of the mind of most of the consumers that it is highly important to succeed, to stay happy, is to stay healthy. So I guess that is one of the biggest takeaways. Absolutely. So tell me now, this industry is growing. Every brand wants to take the health plank. In every communication, you see the benefits to immunity. Give us a sense of what is coming in the near future that we've not seen in a big way. We know that everyone's talking about health, immunity. Personal care is very important. Sleep is very important. Quitting, smoking, and drinking is very, very important. I know I'm saying this just before the cocktails, but there's no point eating almonds in the morning or having badana chavunpras and then drinking half a bottle of single malt in the night. It doesn't work, right? So what are the trends that are coming in the future? That is very small right now, but will become bigger and bigger as we. So Anurag, like I just said, that the health care industry, and specifically the natural, which I boiled down to the Ayurveda, that has taken the center stage. See, immunity was always talked about by Bairdhanath because we believed in the basic principles of Ayurveda. And the basic principle of Ayurveda is first and foremost prevention. So if you have, we always. I wish I met you 30 years back. I wouldn't have lost my hair. I would have believed in prevention and cure. So Bairdhanath has always been talking about this 360 degree immunity building within. And obviously, out of the entire basket of products which we have, the lead product definitely is Bairdhanath Chawunpras. Of course. And we have two variants out there. One is called Bairdhanath Chawunpras Avley and the other is called the Bairdhanath Chawunpras Special. And the differentiator being that one is for immunity and one is for enhanced or superimmunity. I like immunity. So Bairdhanath Chawunpras Special, the kind of trajectory which we saw in these two like years has actually been mind boggling. The awareness what has come in consumers, the young consumer or I would say across even the rural and the urban. So this is here to stay. People have understood that if you have a strong immunity and especially I'm talking about a 360 degree immunity. See, one can build an immunity against a particular ailment by taking a vaccination for that. Here we are talking about keeping a healthy body. And that is what is going to be the core. The customer like preference, what we are talking about and that is what is translating into this lifestyle wellness. So clearly prevention is better than cure. Definitely. People are not looking just to prevent diseases but enhance the quality of their life by enhancing their health. So first, prevention is better than cure. Second is enhancement through the right nutrition. And third, which you alluded to is because we did a session on data. Today we are a fit bit. We know what is our heart rate, how many steps I walk. You know, how much have I slept? How much of it was deep sleep? So clearly data is helping us in ways that it never has. Data should help us. I think so the last speaker also spoke about it. That don't get bogged down by data. It's don't get bogged down by the numbers. The data should help us. I always encourage the younger generation to understand the intelligence, data intelligence. Insights. That's the highly important. And that's what the speaker was speaking and had soft to him what he was like saying. Yeah. Okay. So let me ask you, are you likely to launch more products? Because, you know, I was in Shillong yesterday and I heard about the turmeric from lamb. I may not pronounce it rightly. Langadong, something like that. I bought and it was much more expensive than normal turmeric. Then I bought, you know, black pepper, right? And then I bought some other, you know, such natural things. And I paid almost three times than I normally pay for that. So clearly consumers are willing to pay more because the turmeric from there is supposed to be the best quality of turmeric. It has much better curcumin than the normal turmeric. And maybe, if you want to look like that, then I said finally you should put turmeric. So I thought I'll bring it, but I'm serious not. The consumers are willing to pay more for products. So do you have plans to launch more? I also bought a Kala. You know, I bought a ready-made Kala. You just, it's like powder and you drink. I bought some tea bags, which were Kala tea bags. So clearly I saw new product variants there, come up and I, you know, I have this problem of talking to people at the store and asking them, what sells, what is not selling, why, you know, which is the best selling product, all that I, while I'm buying. So clearly the point again and again, I'm trying to mention is that consumers are willing to pay more for differentiated products and a brand like yours, which has been trusted over the years, built over the years, is a durable brand, is the pride of India. I, do you have plans to launch new product variants, enter new segments? I'd like to know from you. Yeah, definitely. So we at Bayadnath are quite gung-ho with the future, what is evolving. Since the consumer base has become large. When I say large, it also means that the new people who are in, they also have the money to spend. So definitely, and most of the older brands have been mass brands. So there is definitely a stage which we have already evolved to is the luxury segment in Ayurveda, in natural products. And as you can see in the luxury segment, one can get whole kind of organic, you know, GI specific products. Then you'll have, definitely we are going to evolve into the mass stage segment. And subsequently the whole cycle of evolution is going to take place. We are going to have brands which will be dedicated to ingredients or brands which are dedicated to, you know, particular segment or a category like skincare or brand care. So definitely- And I must tell you, I must tell you, every week because of my role both at exchange for media and business world, I'm not exaggerating, I'm under, at least one new organic skincare brand is being launched. At least one, at least the last three months I can say I've come across four or five new because they send me press releases, they want me to meet the founder. So I mean, just in the skincare and beauty domain, every now and then there's a new brand being launched, which is also part of well-being. So clearly I'm just supporting what you're saying. No, so definitely, like I said, at Bethnath we have a huge plan here. So we understand the limitations of the umbrella brand and we are looking at all the segments. Now it is a question of timing and what first. So you have already seen two brands into the market and you're going to see some more segments also being covered through the company, through the umbrella brand, under the umbrella brand, which are going to address the need of the young customer. That was my, I mean, I, you know, Bethnath, I have grown upon the flagship product but the young new millennials, I'm sure they must have seen it then, the kitchen, the parents using it. But what are you going to do to reinvent your brand for the millennials? So you already addressed that in some way. Yeah, Anurag, I mean, you can already see, first and foremost, one will see, you know, a presentation in a different format. The form is going to change. It's not going to be in a children form. You know, it's not going to be a cara form. And like you said, it would be a tea. So developing that, you see, it's very simple to say that o cara is tea, because tea, but you see, the boiling point of each herb is different. Where, see, this is a technical, it is a highly sensitive industry. It's very easy for somebody to come, oh, there's a demand, so let's go, you know, get the data or everybody's asking for this. But now if you have three herbs in a tea bag and the boiling point for all three is different, and while the one has boiled earlier, by the time the third one is giving out the benefits, the first one is already getting, say, rancid. So it's, you know, there's a lot of R&D which has to go through it. And we have managed it by now. In these three years, it has been there. And they're all hitting the market space now. So I would always say that don't just fall for it. But I know everybody's eager. There is a need to improve. There is a need to stay healthy. The importance of, like, well-being, the importance of grooming well. See, these are the things of the future of today, in fact. Like, future would bring in something else probably, you know? So, but don't get- Do you have any product in development which can grow here? I'm kidding. The most critical thing- It's okay, I don't miss my- It's okay, share shampoo money, a lot of time. No, but see, there is a lot in hair care, too. Like, we always say that you have to start at the prevention level. Absolutely. I mean, after you lose hair and then you come, then you'll only be ending up in a clinic, you know, where there'll be planting it. Good. Now my last two questions before I bring in, one is about, I was talking to the speaker before Salil and we talked about the rise of D2C brand, digital to consumer, direct to consumer and he said, you know, omnichannel is the way. When you launch your new brands, of course, you have a large traditional retail reach. How do you see your media mix and distribution mix to be as you launch a new brand? So currently, what we are grappling with is all the digital space which is available and everybody is doing it. Most of the traditional brands or the old houses, because why keep speaking to everybody, you know, just last night I was speaking to the owner of say Liberty Shoes, I was talking to him, how Adesh, and so we were just discussing, we discussed all the time. So it is a new space. Interesting part is that it is growing extremely fast. When we look at the data of what older brands, how they are performing in a country like U.S. or the U.K., we are actually moving lot faster than that and for established GT brands. So definitely it's going to be and things are changing too fast. And then the entire thing that capturing the sentiment of the consumer is, you know, the feel because we are used to, you know, that the person has to go and pick up the product, try it, but on a screen, how is he addressing that? So it is probably the photography, the matter available on it, experiences of consumers. So it is a huge field and it is actually new for us. You know, just in the shoe space, the new brand like Neemans, which have come from nowhere and kind of, they built a huge business, forget the brand, right? I can give you at least in the shoe space. So clearly, you know, the digital space is creating new businesses, new brands, and they have very little physical retail presence. In some cases, zero retail presence. You know, also a challenge of balancing the online and the offline, you know, for us. There's also a challenge. So they can't be heavy discounting, which is one of the norms. I would not say the only norm, but one of the norm. So definitely it's an interesting area and definitely we'll be able to come through with that. Okay, my last question before I get two, three questions from the audience. He's promised a full year of bed and a seven brush for the best question. So if you want that before your beer, we'll be happy to give it to you. But on a serious note, I read your book on how to thrive in a family business. You shared very practical advice from your own experiences and your own journey on what to do to be able to thrive and make the family business, you know, bring longevity to it, bring vitality to it. So why don't you in a very brief way share with us what you wrote in the book. So actually, this is a culmination of my own experience through a family, which is in business for more than 100 years now. And I'm the third generation. So I did go through all the experiences. Plus then I did a course from from the SP Gen Institute in Mumbai. And that opened up my vision towards this family business and the challenges of the family business. Then when I actually got serious in sharing my experiences, I went down and did a research of 250 odd family businesses, small to big. The culmination of all this data is what my book is. And the core thing where the basis of the book is what not to do. See, it's very easy to preach. But what to say is what not to do. So I definitely say the essence of strategy is choosing what not to do. So I have listed out 30 sins of a family business. They are precisely 30 cents. If you can avoid those sins, you can guarantee the longevity of your business beyond the third generation, as we all know that 82% of family businesses globally do not cross the third generation. So the whole idea was how I can bring down this 80% to 75%. So Anurag, I mean, we had a long chat on this. The sin number one is one of my favorite also is the elder son syndrome. Now, in most of the family businesses, it is a no brainer. And so you make him the head of the business. We don't see the competence. We don't see, you know, where he's educated, would he be able to run if the fit is right? Is he interested in the business? And and more importantly, you know, what I saw that the Baaji or the Lalaji, they all are coming from the background of agriculture. Now agriculture is all about like muscle and strength. It's not about the brain per se. So the if the elder has grown up first, so you just put him in the in the fields, and he's going to take care of the family till the other's come up. But business is not about muscle. It's about intelligence. It's about sharpness. So I guess that is the sin number one, which we in India and also in the larger part of Asia suffer. It's not there now in the West. But in India, we still suffer from the elder son syndrome. I am I'm the second child in my family. Not that my father did any business. So it's safe. I have an older sister. But as I said, this is my last question. I would like to request for two questions from the audience. If there are any questions, please raise your hand. You have Mr. Sharma in Kamna wants to ask a question. Kamna, go ahead. Can we get a mic? Hi, Mr. Sharma, in your in your conversations, how you mentioned, you know, when you're building these brands and when you're going to build this for the younger generation, just, you know, maybe an idea or maybe a question. Like we have a company called the Better India, which built a brand called the Better Home. And that was only about the community. Now in, you know, in your case, you have a, you have all the young millennials who are very much, you know, now we are very much bothered about how we look, how we, you know, how we are doing in terms of health and well being. Do you have any plans or anything in your mind in building a community? And then going forward, you know, building within that community, you know, actually promoting your products as well. So I see, I understand your sentiment. So at this point of time, that's not as per our plan, because like we said that at the top, we don't think that we will be able to actually influence or guide or ask people to change their way of style. Our core job would be to help you get relief from whatever ailment or issues you're facing. So I guess initially we are going to be products and would that be, you know, you can drive conversations instead of leading those conversations, you can maybe be a platform to have those conversations. That'll be like stage two for sure. Like, and I'm just taking back home today from, from the last presentation about the app and how they are going to, you know, the warranty and you get back. So definitely there's, there's something to learn. There's always something to learn in every year. Thank you. Come on there. We have Mr. Gupta and we are the gentlemen here. Can we pass the mic? We'll take two questions and we'll wrap up first this gentleman and we're coming to you, Mr. Gupta. Thank you. Thank you, Mr. Sharma. So my question is on the family business side. I currently work with the family business, which I won't name here. But the question is that, are you the elder son? So, so my question is, as generations progress and the need for money is not much, the focus moves from growing business to more of creating legacy. How do you continue the business continue to move forward? And, you know, especially with the managerial staff looking for opportunities, but the growth ambition at the top level not really being there. So how do you continue moving forward? I hope this is not about your, I know, you told me that you work. By the way, not necessarily, he's not the eldest son, right? No, no, absolutely not. So good. I mean, that's, that's, I don't want to tell you where he works. Okay. But he does work for a promoter who comes from a family business, though the business he started is not a family business. So one of the sins also what I have to like mentioned in my book is that it is a dying need to professionalize the business definitely by the third generation. If you can do it in the first or the second, it's brilliant. So I guess the challenges of how the family, the promoter family is going to behave when they are older and they don't have this zest or the zeal to, to grow the business, that gets over. You see, because the moment you keep hiring newer people to be able to take the brand to another level or the business to another level, I guess then you have answered the question. Thank you so much. Last question. Hi, it's a pleasure talking to you. See you here. And I'm a big fan of bad not as a brand, not as much as a consumer, but being a marketing professional, you know, I love this brand. I have a question regarding how do you guys, because you have facilities in Jhansi, Nagpur, Naini and all these places, when there is a new product launch plan at some place, how it is being adopted with the entire, you know, various locations. And are you with us as I have understood over the years, because I've been visiting some of the companies in Gujarat. And Gujarat was supposed to be the oldest tire weather manufacturing or rather the formulation that are prepared there. How do you guys manage to, you know, maintain the same formula? And is it a, so I, as I look at it as an outsider, it's a big strength to, you know, have these logistically managed very well. But what is inside the family that runs that the same product being imbibed by the other unit also and so on. I had the nail on the head actually. Good. So you see, Ayurveda or any of the natural products, you are based on ingredients which do not grow in all the regions all the time of the year. There is a timing. And at Bednath, years back, we have identified the GI, where the ingredient is the best, which means that you get the best nutrition out of it or whichever molecule you are identified is the highest in that region. So most of these plants, like you took the name of Naini, which is like Alhabad and now Priyagraj as you know. So that is actually the heartland for Avla, is the heartland for Avla. Now we went all the way there just for, because all the Avla products need to be there, because you are going to get the best Avla at the shortest period of time. I mean, there was a time frame, I think so in the 80s, when we used to advertise, paed se pak me chopis gante mein. That was the kind of, you know, the logistics which was there. But now the quantities have gone up and it's physically not possible to do that. So most of these factories and plants, we have approximately about 13 plants across the countryside. And so wherever the fresh ingredient is critical, the plant gets located there for that. I hope it answers. By the way, one of the biggest facts is, you know, farm to fork. I mean, there is, I'm going to Bangalore next month, and I'm going to a restaurant which somebody has recommended, which is like really, they charge 6000 bucks, you have to pay in advance. It's only everything fresh. You have to pay 6000 rupees in advance to be able to do that. So I'm going to borrow that from you, okay? So that was a luxury brand at that time. But now you've become masked because of your turnovers. There's one more question from the gentleman. Ajay Ji, this last connected question that ministry of, I mean, are you... You'll have to pay for the second person who was with me also now. Yes, okay, I'll do that. I'll do that. So Ayush parallels the Yunani as well as the Ayurveda. What is your take on that? Yunani versus Ayurveda. No, I'm just, it's not versus. I'm saying that what is the overall thought process with the government that they created Ayush and where Yunani is also there and... Ayush is a brilliant move. It's a brilliant move. See, with the global figures of health care, the way it is going, with a cagger of 10.8 in the next like 10 to 12 years, if you have to get a share of that, the brands like ours, like Bedanath, are going to make their move and going to get a larger chunk of that pie. But till the government support is not there. See, the moment we talk about the international market and then like the international consumer, you need government support and believe me, this government is dedicated. They are very clear that this is the wealth of the country and this must go out and we should be able to handle much higher exports than what we are doing today. And Ayush ministry is the front for doing this job. I think it's a great initiative and they've made a lot of... Without Googling, can you tell me who's the Ayush minister? You don't know. Last, the first one was Shri Padua. Yesho Nayak from Goa. I met him in a flight, very humble, nice sentiment. And now is the former chief minister of some... So... I mean, trying to pronounce it. So, anyway. Your question, sir. Last question. Actually, I'm going to supplement what... Yes. But keep it short. Give him the mic. You'll still need the mic. Three companies I worked with and they didn't follow both of your principles. One is Amrit Varaspati, second generation, folded up. They didn't want to grow. They didn't want to professionalize. Second is quality ice cream. Second generation. We should get you a right to follow for us. Didn't succeed. On the other hand, Dabal, it's very successful. So, one you said Amrit Varaspati. He used to have chips. Uncle chips. Very successful. I launched that brand. Radio advertising. My friend created it. Sunil created that. Sunil Kumar created that. Yeah, I launched that brand. Do you remember Sunil Kunal? Sunil, who created Radio Jungle. Sunil. He was with FCB Ulkana. That's true. That's true. So, second you said is... Quality. Third, which brand? Third is Dabal, who has done all the right things that you've been talking about. And they are successful. Professionalization. Not giving it to the elder son. Giving it to the professional. Sending it out. Sending the son abroad. The youngest son abroad who's handling the business today. That's what I wanted to say. So, he's saying you have to professionalize. Thank you. And legacy. You know, at the end of the day, Badanath has a richer legacy and a brand. I don't think, to any Indian, you have to tell what Badanath is. You know, really across the country and Spike Lee in the Hindi heartland. So, please wish Mr. Ajay Sharma and Badanath good luck because as they grow, it also means the immunity will grow. Mr. Harbindar Narula, who is the CEO of our BW Wellbeing World and BW Healthcare World is applauding. So, clearly he agrees with you. That's a plug for you, Harbindar. So, all the best. Please give Mr. Sharma a big round of applause. He's made time. Bigger round. Bigger round.