Spring 11 MASTER.indd - Thunderbird Magazine

india catches its stride
to $5 million to U.S. $10 million to $20 million.
“We had a balance of payments crisis in 1991
where we had to quickly make some policy decisions,
but that threw the doors open to foreign
investment,” he says. “Now, it’s much better doing
business in India. It’s much easier, freer. Except for
a few sectors, enterprise can be successful.”
In 2003 Jangiti launched his own venture, Asterisk
Confidantes, which focuses on mergers and
acquisitions, strategic advice, joint ventures and
raising private capital, with a focus on midsize
markets.
The window of opportunity came when his employer,
ING, decided to acquire a local bank and
make it the company’s main platform in India. He
had an attractive severance and a chance to pursue
his own interests — both work and personal — so
he jumped at the opportunity.
“India is a country that continues to grow, and
over time it will definitely be crossing the growth
rates of China,” Jangiti says. “The market is here.”
NEW DELHI:
Riding technology wave
Samarth Sangal ’08 had a coveted position
as a senior management consultant at Capgemini
Consulting, one of the world’s largest
consulting, outsourcing and professional services
companies. His work spanned the globe,
with projects throughout Europe, India and the
Middle East.
It was also challenging: He was in charge of
finding solutions for telecommunications companies
trying to deal with the recession, update
their technology and remain competitive.
While Sangal enjoyed his position at Capgemini,
he longed for the freedom of starting his
own company — something he had aspired to
do since childhood.
“My father started his own business after
working in a bank for more than 20 years,” he
says. “It’s in my blood. I was on the lookout for
an idea or a gap to fill.”
India’s rapidly growing demand for online
businesses gave Sangal his start. After realizing a
gap existed between supply and demand for economical
Web design and development for small
and midsized businesses, he founded Maverick
Web Solutions, an online services and consulting
firm.
Maverick allows small businesses anywhere in
the world the ability to contract highly skilled
website developers and designers
at competitive prices. When the
business became profitable, he left
Capgemini.
“Today, young people do not shy
away from leaving a corporate job
at a multinational corporation and
starting something they believe
in,” Sangal said. “Just a few years
ago, it was difficult for someone
who was settled in a corporate job
to do so because of socioeconomic
factors — but not anymore. Society
respects your decision and encourages
you to go on your own.”
Realizing another need existed in India’s
booming textile industry, he founded www.textilestock.in,
an online platform for buying and
selling textile surplus goods. Its model was inspired
by Global Sources, the business-to-business
trading company founded by Thunderbird
alumnus Merle Hinrichs
’65.
So far, the site has
been successful in India,
and within five
years Sangal wants to
make the brand recognized
as the online
trading platform for
buyers and sellers of
surplus goods from India.
He also has several new business ideas in the
works to capitalize on India’s rapid Internet
growth.
“Online business is still catching up in India,
but the younger generation is adapting to the
online business model very rapidly,” he says.
“With meteoric growth in the Indian telecom
sector, Internet access is no longer a luxury but
a necessity, with almost all industries making an
effort to interact with their customers online.”
HYDERABAD:
Bursting with optimism
Narasimha Reddy ’11 could have gone on a
Winterim this year in a number of exotic locations
in Africa, South America or Europe. Instead
he chose a course in India that went right
through his hometown of Hyderabad, one of
the country’s major technology hubs.
Reddy had strong motivation for being Thun-
Samarth Sangal ’08
“Today,
young
people do
not shy
away from
leaving a
corporate
job and
starting
something
they believe
in.”
thunderbird magazine 33