In 2008, when the global financial crisis struck, it was a bad year for a lot of developing countries, and it manifested itself in consumer confidence.
We have a company, Geometric Software, which is into engineering services software. We have a company called Nature's Basket, which is into gourmet retailing. Both are specialized companies.
From our group, we've had joint ventures with a lot of international companies: Procter & Gamble, General Electric, Sara Lee, currently with Hershey's and Tyson. We've learned a lot of the best practices.
There must be an opportunity that matches with our strategy. Just because we have a gap, we don't want to go and acquire anything and everything. What we acquire should fit in with our strategy, human resources and market expectations.
If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.
We have very strong succession plans across all group companies. But we do not comment on it. The retirement age is 60 years, but it does not apply to family professionals who work in the business.
I feel the Godrej brand has generally come to signify trust to most consumers. 400 million Indians use one or the other Godrej product on a daily basis, and they have come to accept it. We will, thus, continue positioning Godrej strongly on the trust platform.
I'm not too involved in day-to-day matters. I only supervise at the board level.
