New Delhi, Oct 5: Before launching the Emami Group, R S Agarwal and R S Goenka made it sure to study all important
and relevant laws and acts so that they would be able to stay within the purview of the law and yet emerge winners, says a
"Business: The Emami Way", published by HarperCollins India, is a repository of entrepreneurial experience, business
strategy and vision of these two industry doyens which they have collected over for more than 50 years of their
togetherness etching the success story of the Emami Group.
The book is replete with short stories, snippets and quotes.
"When Goenka ji and I decided to launch our business, my first task was to study all the important and relevant laws
and acts that concerned us. I concentrated on the finer points of these laws and acts as we wanted to be on the right side of
the law," says Agarwal.
"At the same time, I took time to read between the lines and study the legal loopholes with utmost care. This practice
allowed me to figure out ways and means to enable us to stay within the purview of the law and yet emerge winners," he
Agarwal, along with his friend Goenka, built the business from scratch, failed, picked himself up and now heads Emami -
a multinational brand Made in India.
The study of law helped them win many cases and save duty also.
"We manufactured various ayurvedic products and marketed them in a unique manner and although we were often sued by
various departments of the government, we managed to win most of the cases because of our thorough knowledge of the law.
"We benefited from this exercise at every step especially when it came to payment of excise duty. In those days, duty
was charged on perfume and not on cream and thus, to save duty, we labeled the product with the words 'Cream Perfume
Sachet'. We paid 12 per cent duty while other companies had to pay nearly 70 per cent or more as duty," Agarwal recalls.