P r e s s    R e l e a s e

Press Release of Rendezvous with Mr. S T Shah

Mr. S. T. Shah is the founder of S. T. Shah Management Consultants, one of the leading consultants in India. The company has performed consistently since 1979. Started as financial consultancy services, the organization is now into HR Consultancy, General Insurance and Advisory, Turnaround Management and Growth Management. The Chairman speaks to the Marketing Club @ NRIBM.

Why being a professional CA, did you start management consultancy?

As a professional CA I have always been comfortable with financial matters. I passed my CA in 1962 and was in service for 18 years. Throughout these years I was able to search people for my company. What I felt during these years was that there are may CAs to advice on audit and tax problems, but few to guide and advise the clients with financial problems, which trouble their business venture from time to time. Also I feel personally that there are not many business problems as there are people problems. So I started S T Shah & Co way back in 1979 with a capital of Rs. 1,50,000 in khanpur.

What's the difference between Gujarati businessmen and those of other states?

In any other state, you have to teach business to people. Gujaratis have inherited business. People in other states know the business fundamentals but Gujaratis understand business fundamentals. Gujarat has as such a great business acumen and if utilized properly Gujarat can perform far better than any other state of India. Moreover Maharashtra has got only Mumbai, Karnataka has got only Banglore but we have got Ahmedabad, Surat, Baroda, Rajkot and many more.

How can we attract investment in Gujarat, especially FDI?

You don't need to attract businessman to do the business. He himself will come to your state if he finds the right environment and possibilities to earn profit. No body will come to your state if you don't provide Law and Order situation Security is the most important thing and unfortunately I feel that we can't give that assurance now to any outsider businessman.

According to you how has our life changed after liberalization?

We as a customer are benefited a lot after liberalization. Now it's customer who will decide fate of any business. I remember I had to wait 18 years for a Bajaj scooter. Now you know what's the situation. Though the competition is intense, the businessman will also be benefited if he provides right product with right price.

Which governance system is better: Indian or Chinese?

At the first sight communist system looks better. China is a good example of that. Economic indicators of China, lures us towards the communist system. But the other side of the face is very ugly. While democracy is a slow process because it has got it's own balancing system. Though there are people who are misusing out democracy, I am sure we will progress ahead of China.

What is the factor that differentiates S. T. Shah & Co from others?

When I was thinking to start my own business, I once met one Jain Dharma Guru who taught me these principles. Run your business strongly on ethics. Never lie in your life and put your clients ahead of you. From that day I have followed his principles strongly. What is the secret of any business? Is it strategies, vision for long run? No, It's ethics. My client will come to me again and again if he understands my honest towards him, towards my business. I have put client ahead of me. People prefer S. T. Shah & Co not by clientele, by a big office, but by honest business practice.

What advice would you like to give to students?

Hardwork, Hardwork and only Hardwork. By and large living standards in Gujarat is high compared to other states. So here students get all the comforts of life and unfortunately all don't understand it's value. So they don't put up their best efforts in studies. Even parents support this. So I like to say don't ignore studies.