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<ul><li>The video of Welspun India’s CEO Dipali Goenka dancing with her colleagues, to the tune of Muqabla song from the Street Dancer 3D, has gone viral on the internet </li><li>The 50-year old Joint Managing Director and CEO of the ₹4,500-crore (over $600 million) Welspun India. </li><li>This is just one party on the road to the targeted $2 billion in revenue by 2022</li></ul>The video of Welspun India’s CEO Dipali Goenka dancing with her colleagues, to the tune of Muqabla song from the Street Dancer 3D, has gone viral on the internet. Many industry leaders,<a href="https://twitter.com/Varun_dvn/status/1230035375734784001"> bollywood actors</a> and politicians applauded the 45-sec video giving a glimpse at a ‘happy workplace’. But the 50-year old Joint Managing Director and CEO of the ₹4,500-crore (over $600 million) Welspun India has a lot more to her credit than a viral video. 
	
	<div type="twitter" handle="hvgoenka" handlename="Harsh Goenka" image="http://pbs.twimg.com/profile_images/1100471315016732672/VQXLpkHZ_normal.jpg" favoritecount="13586" retweetcount="2226" status="Rare to see a CEO dance and have fun in an office setting. That’s the way to create a happy culture @DipaliGoenka… https://t.co/DHDlNz8Gy9" createdat="1582045195000" id="1229812801889357824"></div>





 The reason for the celebration: Welspun India, which makes towels, bathrobes, and bedsheet, registered a whopping 55% growth in net profit for the third quarter ending on December 31, 2019, sparking hopes of a turnaround amidst gloomy prospects for the entire sector. This is just one party on the road to the targeted $2 billion in revenue by 2022. Goenka had a tough start as the boss 
 
 <div type="image" title="BCBE8AC1-8420-48A1-A8D7-E84E24DD23EC" msid="74211911" hostid="261"></div> Goenka was a homemaker, and the wife of <keyword id="949657" type="PERSON" weightage="20" keywordseo="Balkrishan-Goenka">Balkrishan Goenka</keyword> (the Chairman of the <keyword id="157753" type="COMPANY" weightage="20" keywordseo="Welspun-Group">Welspun Group</keyword>) until she decided to become an executive back in 2002. She became an entrepreneur with a new business line, Spaces, a brand that targets premium for towels and bedsheets at a domestic level. Nine years ago, in 2011, Goenka shook the textile industry in India when she took charge of the company. Some industry leaders thought the “Welspun has lost its mind” <a href="https://www.thehindubusinessline.com/business-wire/forbes-ranks-dipali-goenka-as-the-16th-most-powerful-businesswoman-in-asia/article8446854.ece">reported Forbes</a>. ‘Is she here because she is a part of the management?” <a href="https://wow.outlookbusiness.com/dipali-goenka/">Goenka told the media</a>. Two years later, she became the joint managing director in 2013. A few years into the business, Goenka proved the skeptics wrong. Welspun India’s annual revenue was nearly ₹5,500 crore last year. In fact, a look at the stock price of Welspun India shows that the real wealth generation for investors happened only after she took over. 
 
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Source: Google Finance Now, the company expects the WelHome and Spaces brands to touch ₹3,500 crore, according to an Edelweiss report, by next year whereas the current market value of entire Welspun India is just ₹4,500 crore. What makes her achievement special is that she has managed to grow the company at a time when the textile industry has been struggling to survive. Particularly, the textile exporters from India have been losing out <a href="https://scroll.in/article/810671/three-charts-show-how-indian-textile-industry-lost-the-race-to-bangladesh-and-vietnam">cheaper competition from Bangladesh and Vietnam</a>. The early setback Sexism was not the only challenge for Goenka. One of the biggest setbacks for the group was in 2016, when Target Corp, second largest value retailer in the US, informed their customers that Welspun India sold them substandard bedsheets. 
 
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 At the time, Target gave about 10% of Welspun India’s billion-dollar revenue every year. Their market cap took a steep fall of 54% — from ₹103.34 billion to ₹46.97 billion between August 19, 2016 and August 30, 2016. Goenka <a href="https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/how-welspun-india-is-emerging-from-a-crisis-that-rocked-its-credibility/articleshow/69706022.cms">took responsibility and met all her customers </a>including JCPenney, Costco, <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> in the US to Sainsbury in Europe. In 2017-18, the company’s gross sales fell by 9%. But the company seems to have recovered from that now. It was ranked as the <a href="http://outlookindia.com/outlookmoney/investment/the-weaver-welspun-india-2122">top home textile suppliers in the US in 2017 </a>and has a distribution network in over 32 countries including US, UK, Europe, Canada and Australia. The good fight Goenka has not only chased her corporate aspirations, she has also strongly backed gender equality. “The biggest change is that the percentage of women has gone up from 7% to 23% in our workforce. IQ is not the only thing that will take an organisation forward. It is also the EQ. And that’s the balance women bring,” Goenka<a href="https://wow.outlookbusiness.com/dipali-goenka/"> told Outlook Business. </a> While prodding other billionaire-owners of big businesses like <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> and <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> to make their workplace more fun, Goenka has also become the face of a changing corporate culture in India. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/article/escorts-share-price-and-inside-story-of-how-market-value-nearly-doubled-in-a-new-book/articleshow/73763872.cms">The inside story of how Escorts turned around to become a nearly ₹10,000-crore company</a> <a href="https://www.businessinsider.in/business/corporates/news/profit-margin-on-jockey-and-speedo-shrinks-shows-page-industries-q3-earnings/articleshow/74119148.cms">Biting slowdown is squeezing Page Industries' profit margin on Jockey and Speedo</a> <a href="https://www.businessinsider.in/business/startups/news/manish-malhotra-ritu-kumar-sabyasachi-and-other-top-designer-clothes-are-available-for-rent-thanks-to-this-indian-startup/articleshow/72326885.cms">Manish Malhotra, Ritu Kumar, Sabyasachi and other top designer clothes are available for rent thanks to this Indian startup</a> <a href="https://www.businessinsider.in/business/news/everybody-needs-a-haircut-says-celebrity-stylist-jawed-habib-who-does-not-fear-the-effect-of-a-slowdown/articleshow/74132791.cms">Star hair stylist Jawed Habib reveals why $30 million franchise hasn't cut prices this slowdown</a>

Welspun CEO Dipali Goenka is more than a dancing CEO⁠— she’s a homemaker-turned-CEO engaged in the good fight

New Delhi, Dec 19 () India Inc leaders, including Bharti Enterprises Chairman Sunil Bharti Mittal, CII President Vikram Kirloskar and Assocham President Balkrishna Goenka, on Thursday asked the government to take measures to augment ease of doing business to "create more freedom for the industry to perform".
 In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
 "I have come here today to discuss only one thing -- make doing business easy in the country. That was what my thrust was," Bharti Airtel Chairman Sunil Bharti Mittal told reporters after the meeting.
 He said some suggestions around mergers and acquisitions (M&amp;As), demerger, NCLT process, about certain sections of income tax which were coming in the way of M&amp;A or slowing them down were made.
 "The idea is to create more freedom for the industry, for them to perform. I think the finance minister received them very well with her associates and secretaries. What we look forward to this Budget is that they unleash the energy of the Indian entrepreneurs to do more," Mittal said.
 Expressing similar views, Assocham President Balkrishna Goenka said for "ease of doing business, states have to play an important role" and last mile issues are there, which need to be resolved. 
 When asked about the meeting, CII President Vikram Kirloskar said, "We talked about ease of doing business, which are the issues concerning many industries."
 RP-Sanjiv Goenka Group Sanjiv Goenka said the discussions "centred around more around what can be done to stimulate growth, to facilitate the ease of doing business".
 "I think the finance minister and her team were extremely open to all suggestions," Goenka said, adding that "it is the first time I have seen this kind of response from the government".
 On the current slowdown and its impact on capacity utilisation across many industries, he said, "We all recognised that it is going to take a couple of quarters, three quarters, four quarters, before this capacity gets utilised. We understand that, and that is the reality of the situation."
 Ficci President Sandip Somany said the industry representatives gave suggestion to the FM "to reduce income tax for those who earn less than Rs 20 lakh in a year so that there is more disposable in the hands of consumers and the economy benefits".
 He further said, "We have also asked the FM to take measures about reducing EMIs, which can happen only if the banks reduce the interest rates on loans."
 Stating that while the RBI has cut 135 bps, banks have reduced only 45 bps, Somany said, "If there can be more transmission of RBI's cut to consumers, then the EMIs will be reduced and it will also improve consumption."
 A finance ministry statement said, "During the interactive session lasting over two hours, prominent industrialists spoke about improving regulatory environment to safeguard investments through ease of doing business, increasing export competitiveness, reviving private investment and kick-starting growth measures."
 In the pre-budget consultations in connection with the forthcoming General Budget 2020-21, industrialists also suggested many ways to boost the rural economy, especially to increase consumption, it added.
 Other suggestions included improvement in insolvency process in relation to NCLTs and banks; faster mergers, acquisitions and demergers processes, ways to reduce time for FDI approval; structural changes in laws for effective and stable business environment; time-bound decisions for augmenting ease of doing business both at the central and state levels.
 The industry leaders also called for new investment of capital for building infrastructure, CAPEX for infrastructure to boost the economy, preventing predatory pricing and dumping in India while facilitating R&amp;D in India to boost Make in India, the statement said.
 They also called for harnessing public-private-partnership (PPP) by leveraging social funding through a new programme and ensure liquidity for NBFCs with focus on the rural economy and ways to increase consumption in the economy, it added.
 Other industry leaders who took part in the pre-Budget consultations were GMR Group CHairman BVN Rao, Ashok Leyland MD and CEO Vipin Sondhi, Wipro Global Chief Financial Officer Jatin Dalal, K Raheja Corp Group Group President Ravi Raheja and Patanjali Ayurved Ltd Chairman Acharya Balkrishan, among others. RSN RKL MKJ

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