Belgaum is in Maharashtra: Alumnus of IIM-A

The Indian Institute of Management, Ahmedabad (IIM-A) on Sunday released a book that deals with stories of 25 of its alumni who chose the less trodden path to make their mark as successful entrepreneurs.

Stay Hungry, Stay Foolish", written by Rashmi Bansal -- herself an alumnus of IIM-A -- describes how 25 students of the premier B-school chose the path less trodden and successfully built new business and organisations.

Another interesting story included in the book is about a student who chose to set up sugar factories in his native place Belgum in Maharashtra instead of working with some multi-national company.

Narendra Murkumbi, who graduated from IIM-A in 1994, shut down his first company manufacturing bio-pesticides that he started after graduating from IIM-A. The reason for closure, according to Murkumbi, was its turnover of Rs 5 crore (in 1998) was "not large enough".

His second venture -- manufacturing and refining sugar -- earned him a place in a leading business magazine as one of the "new billionaires" of the country.

Shree Renuka Sugars, which the 38-year-old started, today has a turnover of Rs 1,000 crore and has changed lives of over 10,000 framers.

Moreover, five per cent of the company's earnings go to Shree Renuka Sugar Development Foundation, which runs schools for children of laborers who harvest the sugarcane, besides health centre and hospital in the factory.

To all the readers: By no means, I am trying to be pro Marathi or Pro Kannada. I am just sharing things written by learned people. They alumnus of IIM-A, the leading management institute, they should know geography a bit well I guess.

See original NDTV story here