Building a Rs 50 lakh business in 7 years, finding opportunities amid COVID-19 – top stories of the week

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Coming from Gwalior, Madhya Pradesh – a city known for its cultural heritage and palaces – Dishi had grown up seeing craftsmen visiting his home to create jewelry for his mother and grandmother.

Since childhood, Dishi has been an art lover. But when she grew up, the hustle and bustle of life and the usual course of finishing school to get a reputable job didn’t leave enough room for her to explore her creative side.

However, in 2015, in something of an epiphany, she quit her cushy job at ICICI Bank after working there for about two or three years to get into entrepreneurship and launch his jewelry brand — Dishis designer jewelry.

“I was not satisfied with my work. Although I did my MBA and was earning very well, art was really missing in my life. I’m a creative person, and a 9am to 5pm job just wasn’t enough for me. My dad didn’t support me when I quit my job, but I found my calling and eventually started my own label.

Dishi launched her label with an initial investment of Rs 5,000. She says her brand was one of the first to start as an online-only platform, showcasing gold, diamond and silver jewelry.

In seven years, she has delivered more than 5,000 creations sold only online. It claims to have an annual turnover of around Rs 50 lakh.

Read the full story here.

Charak Pharma

The COVID-19 pandemic has led to an unprecedented focus on health and well-being – whether mental or physical – thus boosting allied services like the pharmaceutical industry.

According to a report by the India Brand Equity Foundation (IBEF), the pharmaceutical market was worth $42 billion in 2021. It is expected to reach $120-130 billion by 2030.

India has several established pharmaceutical brands, from Himalaya to Emami to Dr Reddy’s. A relatively new space called pharma-tech has also emerged in recent years, which focuses on telemedicine or online sales.

SMBStory spoke to Dr. Ram Shroff, Director of Charak Pharma — a company almost as old as our country – having been established in 1947 by the Shroff brothers DN Shroff and Dr SN Shroff.

Today, Charak Pharma has carved out a place for itself in the Indian and global markets. It offers approx. 106 references in all categories, including dental, gynecology, ortho, and more, and is present in two lakh outlets in India.

charak too exports to more than 30 countries, including USA, UK, Greece, Portugal, Bulgaria, Ukraine, Kazakhstan, Tajikistan, Bangladesh, Sri Lanka etc.

Speaking about the impact of the pandemic on the industry, Dr Ram says: “The pharmaceutical industry has definitely grown in popularity.”

“COVID-19 has been a huge wake-up call that cost a lot,” he said, adding, “It also caused us all to review what we were doing. Sometimes you overlook certain things, but when the going gets tough, you start looking at everything.

Read the full story here.

Other top stories of the week:

the micro, small and medium-sized enterprises (MSME) sector is considered the backbone of the Indian economy. According to the IBEF, India is home to around 6.3 billion MSMEswhich contribute approximately 29 percent to the country’s overall GDP.

MSMEs generate significant employment opportunities and provide livelihoods for people in semi-urban and rural areas.

In fact, the Indian government has launched plans — including Prime Minister’s Job Creation Program (PMEGP), Credit Guarantee Scheme for Micro and Small Enterprises (CGTMSE), Digital MSMEsetc – to improve the sector so that it receives more capital to develop its activities.

Furthermore, India’s startup ecosystem has come forward to help small and medium-sized enterprises (SMEs), especially amid the COVID-19 pandemic, with digitalization, capital, etc.

Here are some Indian startups that are helping SMEs get easy loans to scale their business amid the pandemic.

Read the full story here.

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