PGPFMB batch 38 regional immersion at Indore

Indore stands as a testament to India’s business hub. Hence PGPFMB 38 visited it for their three-day regional immersion. This extended contact programme was designed to help participants step into a business ecosystem, engage with local industries, reconnect with regional alumni, and uncover strategic opportunities for their own family enterprises.

Day 1: Driving the family foundations

The immersion opened with IGNITE, a dynamic, rotating-table dialogue with local alumni. In small, focused groups, participants discussed real-world business challenges, ranging from the premiumisation of commodity products and the transformation of traditional trades into national brands to the scaling of logistics and the realisation of HR as a core growth driver. The format ensured that as alumni rotated across tables, every conversation added a new layer of understanding regarding market intelligence, brand as an asset, and the necessity of building strong teams to enable professional delegation.

The day concluded with a powerful fireside chat with Mr. Nitin, Mr. Nipun, and Mr. Saksham from the Agarwal family of the PATH Group (Prakash Asphalting & Toll Highways). The discussion highlighted that while business growth requires taking calculated risks, the most enduring foundation remains the family. Participants learned the value of institutionalising family harmony through annual meetings where all members, including women, gather to clarify roles and plan for the future. The core takeaway was that while profit is a necessity, true family wealth is measured by the relationships created and the commitment to bettering society.

Day 2: Understanding operations and industrial scale

Industry engagement took centre stage on the second day with detailed visits to large-scale manufacturing enterprises. Participants explored Symbiotec Pharmalab Pvt. Ltd., gaining practical insights into fermentation plants and the management of high-output, 13-acre facilities. The next visit to Case New Holland and Mittal Appliances allowed students to witness the seamless implementation of Kaizen principles and the maintenance of a strong team culture at an immense scale. A boardroom interaction with Mr. Akhilesh Rathi, Director at the Dainik Bhaskar Group and Managing Director of the Savitt Group, offered a rare multi-generational perspective on leadership.

Day 3: Exploring the historical roots of trade and entrepreneurship

The final day began with an early morning heritage walk through the Chhatris of Holkars, led by Mr. Zafar Ansari, a prominent historian, archivist, and conservationist based in Indore, Madhya Pradesh. This session explored the historical roots of Indore’s economic prosperity, tracing how the Holkar dynasty’s belief in trading and investment attracted merchants from across India to build a ‘golden era’ of trade. This historical context set the stage for a visit to the Yellow Diamond factory, where participants studied the critical role of distribution in retail success, the necessity of automation to manage labour dependencies, and the importance of adapting to market shifts before they become disruptive.

The immersion culminated in a final fireside chat with Mr. Mohit Jain, Co-founder of Kimirica, and Mr. Sawan Laddha, Founder of Workie Office Spaces. The discussion emphasised the need for passionate research, ‘Blue Ocean’ thinking, and maintaining absolute honesty and integrity in business. Both founders shared key frameworks, including the NDFF method (Need, Desire, Fear, Frustration) for understanding customers and the KIT (Keep In Touch) concept for maintaining long-term business relationships. Participants returned with a renewed conviction that systems, ethical leadership, and a culture of continuous improvement build sustainable growth.

About regional immersion module

Regional immersion is a unique pedagogical innovation of the PGPFMB at SPJIMR. The philosophy of the regional immersion is to learn from the context, which involves visiting a Tier 2 city to understand the scope of expansion for family businesses while facilitating the regional development of India. The immersion is a thoughtful mix of industry visits, networking opportunities, and meetings with local business entrepreneurs and regional alumni.