 Thank you, Mr. So, we request you to please stay back. I'll invite Mr. Pradeep Rewedi, CEO Sakal, to engage in a question-answer session with you. We've got the chairs lined up here. And a very, very insightful and interesting presentation there talking definitely about the Amul girl. Incidentally, she is 50 years old, recently. And still, everybody doesn't mind being toe-cored by a little girl. And no change of positioning. I think that is pretty destructive in itself because I would probably personally feel that a lot of marketing heads actually join organizations to leave their mark and change positions, spend millions of rupees and then, you know, try to change around exactly what the legacy has been. So kudos for Amul to be, you know, maintaining that brand positioning. And also, having said that, they've also revitalized the brand and extended the brands into various other categories and products. So, Mr. Pradeep Rewedi, of course, CEO of Sakal Media Group and accomplished industry leader with an experience of over 23 years of business management, cutting across functions and industry, is an active participant in many industries or associations such as IAA. Thank you so much for all the tweets, Mr. Rewedi. Also, an honorary secretary and managing committee member and the advertising club of India as a managing committee member. So I would request you to engage in a conversation with Mr. Sodhi and, of course, later on, we will take a couple of questions from the floor. Thank you. Yeah. Good evening, everybody, and thank you so much, Mr. Sodhi, for a really exciting presentation. I think the audience was looking forward to getting some great insights from Amul and I think what you presented is, I think, far beyond our expectations. I had come prepared with a bunch of questions that I wanted to ask you, but in all fairness, I think your presentation has actually covered quite a few ground and I think brought great insights to all of us. So let me ask by, you know, asking you something very different. You lead an organization that leads a very iconic brand and connects both the service providers and the consumers in a very unique way. How do you define leadership? How do you maintain your leadership in a market which is extremely competitive, especially for consumer products? Like I said, I'm leading the blind faith of our two main stakeholders in the brand, that is, our milk suppliers and our consumers. And that we have been doing for the last 70 years and we have never compromised on such hours of the year. That is, giving best price for the milk which farmers are giving and giving best quality, tasty product by using the best technology at value for money. Value for money. And always in business point of view always believe in scale so that efficiency comes in the system and you are able to pass on that efficiency either to the supplier or to the consumer. So you are creating entry barriers so high that you are completely unable to pay. That's really unique. One of the things that has always worked for Brand Amul is that it has always been very fresh and very consistent in the consumers mind. You know, today the segmentation of marketing talks about millennials, talks about new consumers that looks at media and marketing in a completely different way than traditional consumers have looked at. But the brand remains extremely relevant in the eyes of all of these consumers. So how do you keep the brand so fresh? What is the mystery behind it? We give you fresh milk in the morning and you are very fresh. So we start early morning with the milk and you sleep having a cup of ice cream so the whole day we have reviews always the top of the mind is there. But you see, keeping Brand Fresh especially in food products is easy also and difficult. The reason is that if you see your plate or thali, we call it food I am 57 years. I remember what I used to have during my childhood days. Same thing I am having other time. We used to have Alu Pranth, Satya Aayegi, Gobi Pranth, Gambhuli Pranth, Makhan Hoga, first we used to have white butter then we used to have Amul's butter. Girl was there but now curd is back, curd is there. Once in a while, once in a month, once in a week we may try old, we started with North Indian first weekends in Dunechara, South India. Then Chinese came, then Mexican came. I mean, we keep on shifting but main food in the thali is safe. So what is challenge is how to make this food in the thali nowadays fresh, that new consumer you always try to eat. Butter may be 56 years old but whenever you eat it, you always feel very fresh. And same is true in our campaign or brand-newing. But Amul's buttery, delicious campaign, the celebrity or whatever CC is in the girl, she is commenting, which is very very topical, which is latest. So that is why this new feeling is very fresh. So one of the things that a lot of youngsters in the room and I'm sure the audience that is looking at it millions of them through webcast which is happening right now as we speak. The youth of today is inspired by startups going entrepreneurial doing things on their own. When they look at an iconic organization and iconic brand like Amul which has created phenomenal success in India and is our globally recognized brand. What are some of the lessons in organization building that they can draw from you personally and an organization to when they look at creating new products, new services and making a success out of their startups. Firstly let me tell you, startup generally comes to everyone and you can think only about anything which you can do within a room and that too on computer or internet aggregating something. So everybody tries to do that type of thing but let me tell you if you want to have ageless organization or startup you have to see organization we are brick and mortar we have fields there you are interacting with the supplier and consumer. Coming to the food for a young entrepreneur I like to tell you there is immense potentiality investing or building brands in food. I mean Amul last 70 is already there brand is for more than 60 years still we have got only 5% of the market as you can see and only 20% is organized so enough food enough market space for others and also for the existing players to grow but then challenges are also there especially food I have seen maybe in dairy and other food why some of the best brands some of the very good brands they fail I have seen people try to come out with a good product and overnight they want to go national food is a very very regional thing very very local thing so I always tell the young entrepreneur if you want to build a food brand make a good product use latest packaging technology or logistic first establish your brand in your city then your districts then adjoining districts unless you can double figure market share in your local don't expect the next once you have built market a brand in a state then have three stable then think about national but unfortunately what happens is these problems today is our equity market share market again who will invest IPO will be successful if your brand is in national otherwise nobody is going to invest that is why most of and actually so thinly spread so much investments in brand trading and you are not able to pass value either to the suppliers what do you think I think there are fantastic inputs in fact I really appreciate Mr. Soti that being the market leader so much insight to other entrepreneurs who want to look at food process food in dairy products industry sector you are actually inviting competition to come on and do more but I think that's the magnanimity of your heart and you know the approach of your organization that has always done wonders for our time I like where you see in the beginning I said marketing and branding is a tool which we have used our development of the our very producers are the farmers more the people more transparency more competition because the farmer is going to get choice at better price and that will achieve our objective we are not the business of dairy companies we are the business of the development of farmers so if more people need better price we achieved our objective I think that's a very laudable approach before I open up the floor to the audience there is one question that is really bugging me inside what topic of conversation is every marketing, media, industry meeting that you go to these days is there is this whole sense of concern, apprehension what will happen with this demonetization thing you hear marketers talking about the fact that they are pulling out their campaigns, you know, applying breaks you see consumers not only being strapped of cash and hence not being able to buy products but the whole propensity to buy, the willingness to buy has somehow got shaken to the core because consumers are now wanting to hold cash and you know even those 100 rupees they are wanting to keep in their back pocket rather than spend it out how do marketers deal with this phenomenon and what's the way forward you see this demonetization both side of our seed to seed business farmer's side also and consumer's side but let me tell you my answer will be this thing here American trading when this was announced so first few days we also said how farmers will get money for this every week nowadays 450 crore means we are dispersing in cash to the farmers so when this demonetization how to get cash how farmers buy vegetable how they'll pay a fee and just last week I had a board meeting on my board I am the only professional 18 board members of the farmers they are chairsmen of the industry unit but they are built by business they don't understand the increase of business but I thought they'll cry they'll shout about the government because money was not going to the villages it had stopped surprisingly I told you we didn't get 10,000 in one stroke what is that crying that what about money we are paying to the farmers instead of giving cash it should be credited to their bank but due to the vested interest at the very level it was not happening because the village the corporate society fellow he was dispersing cash he had that someone is taking an advance who will get a big deal he will take his interest and money also used to be of the corporate society and whenever we try to push the thing they used to create some obstacles here and there but with this coming when money is not there they were forced to deposit money or credit money and other things more than 50% the farmers already had the account but it was not being the accounts were not being to the bank so they were forced to do it and secondly those farmers who had no accounts suddenly their lives did not get the money until they opened the account so they started to open the account after 8th November and today we have opened more than 3.5 lakh accounts earlier we had 30 lakh accounts and nearly small farmers now getting cash then 24,000 now 15,000 but other farmers there cash is not coming and especially most of the accounts are in district corporate banks but not getting cash so then we have to take up the matter with the army and because of farmers name and Amul name are they agreed to give us through district corporate special money, cash to be discussed for the big big but let me tell you last 3 weeks our total bill may be around 1350 crore rupees only we have seen 3 or 4 crore rupees of cash still there is no event that is the positive impact which we never never expected now what it has got to us is first is transparency the system second is that savings have to be now otherwise we used to keep the payment the farmers used to have full payment they used to spend it here and there now she is going to know what is necessary and third is his or her credit loan from the bank now consumer side which most of the I read in the all the pink papers that 30-30% down may be right but let me tell you and you are the consumer you know in milk or other fresh product not a single cookie production is same some of the description in product ice creams, beverages cheese we faced we tell learn in first one week second week became normal third week whatever we lost in the first week so every second week close 2 days back is around 20% higher than last month because you have used consumption any of our daily work you are not used it may have impact the durable principle food or FMC products are there it is not we talk about so your core message to marketers would be to stay positive and keep racing for better times to come ahead I think it is a temporary phase as you pointed out thank you so much Mr. Sodi I think it has been extremely wonderful I think I will open up the floor for maximum of 2 audience questions we are running a little behind schedule in terms of I know you want tons of information and requesting Mr. Sodi please for this keynote address some of you could perhaps meet him later in the evening and you know get that question out of your mind so I will open up the floor to 2 questions thank you so much Mr. Sodi we have got ushras in the room request you to please raise your hand identify yourself in the organization that you represent and ask the pointed question while we wait for questions from the audience I definitely do have one question so so did you say that internationally there is a very strong movement in veganism primarily you know it is also very well supported by the PETA in terms of you know organizations using animals and animal products as far as you know their consumer products are concerned or primary concern with the way animals are literally abused and exploited for you know for profit margins while I understand that Amul isn't cooperated in not really a contradiction but is there any process or any thought that goes into this as far as Amul is concerned in terms of you know good treatment to the animals it was just one and a half month I was in Rotordam international dairy federation conference was there there is a company in USA which is a dairy farm where animals are kept without any cruelty and the lady was promoting that we all should get third party certification that we are keeping animals very nicely and very clean feeding them well and I asked her only one question what are you doing once the cow stops getting big you send it short browse so what do you mean by cruelty I mean you it is like so as far as this thing is you see these things these are the movement movement it comes and go people talk on these things like I mean latest controversy you have been hearing that butter fat or dairy fat is saturated fat is not good cholesterol is bad now everybody is talking there is no linkage of cholesterol the last 50 years people have been selling medicines and other things but in Amur like we done in India as well you know cows and what about as far as so while I appreciate you saying that there is a certain kind of fat which comes across as far as this is concerned but also we can't defy cruelty in terms of how animals are disused and you know I personally see in India many of the family members will go to cover villages farmers are keeping one two cows in their home only they are not names I think that confuses question Amur was one out of the audience so we will have to give one to the audience go ahead thank you for doing this thank you for coming all the way and liking us I have a straightforward improved question something that a lot of people to media have already talked about these days I will be direct this Amur planning to spend cut spend democratizing spend because of demonetization I plan to increase is there some good news for us I think this is a good time to spend more and get double the budget sir actually very difficult to create such conferences I mean I don't think we are spending only 1.8 percent of how much we are cutting there is no need and business is as usual I don't think very much it is found when you get more spend from Amur that's the story considering that Eurom has only one opportunity could you just identify yourself and then ask the question please yes my question is that Amur is a really cooperative organization for the health of the young people so I request out of your CSR maybe the all organized sector open it laboratory in every district to identify what kind of the things are being mixed in the local by the Durudwala maybe the medium maybe the soap maybe the oil so that people become health conscious and they will have more trust and faith in all organizations maybe the Amur sir is there a question or is there a suggestion no I am asking how they are spending the CSR on CSR how does Amur look at yes sir thank you we don't have CSR budget I mean we don't have profits so naturally 2 percent is nothing but the organization is CSR the community's adaptation issue is a very important issue the government has got the machine to check the adaptation etc but as Amur I think it is one of this TV cabinet we have shown what type of work has been done during our whole supply chain first is that the village level is being electronically quality tested for any adaptation second is that and it is immediately cooled in public second is the which is the factory there again it is checked for any adaptation quality because end root is something else then third is before packing and fourth is before dispatching the market we are in 4 stages of checks and that is why it is very important for the brand like Amur so my question is not that for the Amur sir thank you so much I guess we don't have money we don't have money I think that was a good suggestion I think from the approach of Amur's standpoint kind enough to take a lot more questions than what we had anticipated thank you so much for a very enlightening presentation and for taking all the audience questions as well it's been a pleasure so actually please say back we'd like to offer you a total of appreciation and questions to the way they took these hand that over on behalf of the exchange for media group with an out round of applause ladies and gentlemen Mr. R.S. Soli managing director Amur