The Man with the Midas Touch @ FKCCI

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Sri Ramesh Chandra Lahoti, the new president who has taken charge at Federation of Karnataka Chambers of Commerce & industry (FKCCI) has been part of nation-wide movements in Trade and his story has many life-lessons for the business community.

Born and brought up in Bangalore – and in Central Business District (CBD) – Ramesh Chandra Lahoti proved to be true to his Rajasthani roots with his foray into business.

After completing his B.Sc, Ramesh Chandra Lahoti was intent in pursuing law but fate willed otherwise and he continued his family business, but in a new avatar, christened as Sunil & Co, in the early 1980s, dealing in wholesale pulses, rice & wheat.

The evenings he used to spend in his father, Girdharilal Lahoti’s Jaju & Co, started in the late 1950s, quickly helped him to learn the ropes in his business and soon, his company, Sunil & Co became a familiar name in Old Tharagupet in trade circles.

In a little more than a decade of foraying into business, Ramesh Chandra Lahoti became a passionate voice for traders and served as the Secretary of Bangalore Wholesale Pulses & Food Grains Merchants Association, at the turn of the millennium. A few years later, he became President of the Bangalore Wholesalers Association.

 

Entry to FKCCI

For Lahoti, Millennium 2000 opened the doors to FKCCI, where he has served as MC Member as a representative from Association Centre (2000-2018) and subsequently represented the Large Trade Category. As Chairman, he has ably and appreciably guided various Committees like APMC, GST, Membership, Labour, Internal Trade, International Trade, among others.

Lahoti found his special calling when he formed the APMC Yards Committee, an umbrella body, at Yeshwanthpur, Bangalore.

While his study of the law was short-lived, his tryst with the law was blessed with historic results of lasting significance.

Around 2005 there was a move to open up FDI in Retail, which he opposed tooth and nail, on behalf of the Trading community.

The first BIG Victory

When Metro Cash ‘N Carry was opened first in Bangalore, Lahoti filed a case and horror of horrors, found himself against one of the nationally known legal luminaries, Sri P. Chidambaram!  Unfazed, he along with his lawyer, burnt midnight oil, poring over the minute details of the APMC Act. What ensued was historic: The honourable court stopped Metro Cash ‘N Carry from trading in APMC products. This struggle was an opportunity for Lahoti to network with the biggest names in industry, such as Kishore Biyani and Bharat Kumar Shah, among others.

This gave a huge boost to Lahoti and his fighting skills. He was now not just a successful trader, but a trusted leader of the Trading community.

A Win for APMC

The next major pit-stop enhancing his reputation came around 2008, with the proposed APMC Reforms Model Act. His piloting of the issue as the Chairman of the APMC Committee, FKCCI hit the right notes and soon, the then Chief Minister, Sri H.D. Kumaraswamy invited him to be a part of the Committee for APMC Reforms Model Act. This too took another historic turn, with the Committee prohibiting any market from coming up and operating within 50 km radius of APMC Yard.

Ramesh Chandra Lahoti was now growing in stature and his leadership of the Trading community went on to get a ringing endorsement at the national level with his becoming the Secretary of the Confederation of All India Traders (CAIT), from 2010 till date.

Behind making of 0% VAT

The introduction of VAT in Karnataka around 2014 saw Ramesh Chandra Lahoti once again taking up cudgels on behalf of the Trading community, demanding that essential commodities be kept out of the purview of VAT and be considered at 0%. At the time essential commodities were in the 5% bracket in neighbouring States like Tamil Nadu and Andhra Pradesh. After a sustained agitation, the Government conceded to his plea and all essential commodities were put under 0% bracket – which continues till date – thus benefiting people of not only Karnataka but across the country.

His biggest achievement

The GST proposal in 2016 came with murmurs in trade circles that the move to tax essential commodities at 5% would be back. Ramesh Chandra Lahoti took charge yet again and dashed off emails to no less than the PMO and even spoke to the Government of India’s Chief Economic Advisor, Sri Arvind Subramaniam over a power call! Eventually, his persuasion and persistence paid off with the Centre too relenting to keep essential commodities under 0%.

Crores of Traders throughout India benefited from this movement piloted by Ramesh Chandra Lahoti and as he says, “it was the biggest achievement of my life”.

As part of his CSR activities, Lahoti is involved as an active Committee Member of the Maheshwari Samaj and started a Cooperative Society in Mysore Road.

 

Secret sauce of his successes

With many decades of experience as a successful Trader, Ramesh Chandra Lahoti has become a tried, tested and trusted Voice of Industry, backed by his many triumphs on many issues where the Government(s) of the day found merit and were compelled to accept his stand. So what is the secret sauce behind his successes? It is his ability to work with the policymakers irrespective of which party or who is at the helm of affairs. He does not share the cynicism against the government which broadly people in industry have, and insists that as the biggest stakeholder in the system, they are accountable and equally amenable to the voice of other stakeholders. For him it is about how you present an issue that lets you to prevail over the government.

 

Message to Young Entrepreneurs

Finally, his sage counsel to the prospective and existing entrepreneurs & traders, especially the young generation can be briefly summed up as follows:

 

Never lose your Supplier’s trust, he says, citing his own example of how he got a supply of one ton food grains over a phone call. The operative word is TRUST.
Be honest and show commitment in your finance dealings and book-keeping.
Patience pays. Shortcuts lead you only to failure. Success has no shortcuts. For lasting success, you have to be dedicated, determined and devoted to your business.
Today’s generation is lucky that they have at their fingertips, all the things that we had to struggle for, viz. finance, technology, mentoring, knowledge, etc. But all this can count to nothing without the old-fashioned values like patience, dedication, commitment, and last but not the least, family support, which is critical.
Finally, be an active part of your local Association, or Chamber. It is a great way to learn new things, expand your network and fight for your cause. The advantages are many, and it requires you to only spare a few hours per week or a few days a month.

Ramesh Chandra Lahoti, the Man with the Midas Touch, is now the President of FKCCI, and expectations are high. For a change, it’s time to expect the expected.