Can you provide a brief overview of Goldstone Technologies? Which industries are you currently serving?
Goldstone Technologies, a 27-year-old company, is an integral part of the Goldstone Group, which spans into diverse sectors of manufacturing, and technology is a unique niche envisioned by the conglomerate.

Traditionally, Goldstone Technologies has exhibited considerable strength in data and data analytics, particularly in the realms of cloud technology. For example, we proudly hold the top position as a partner for various products in India, including Salesforce Tableau, a business intelligence (BI) data visualisation product, as well as other data analytics tools such as Alteryx and cloud technologies like Snowflakes. We assist these companies in comprehensively analysing, organising, and deriving solutions from their data, leveraging latest AI technologies.

Going back to my initial days with the company, around 12 years ago, it became apparent that business intelligence (BI) and data analytics would be pivotal areas for the company's growth. For all these years, we introduced a lot of BI and data analytics technologies into the company. However, in the past 3-4 years, our attention has shifted towards zero-emission technologies. The overarching goal of the Goldstone Group has consistently been to contribute to contemporary areas in manufacturing, information, technology, and the data analytics landscape. India is making strides towards becoming a digital economy, and as a result, the country is becoming increasingly adept at handling data. Many organisations in India now require assistance in comprehending and harnessing their data effectively. We specialise in crafting tailored data and analytic solutions based on their specific needs, ensuring they receive the support they need to navigate the complexities of their data.

We have a base of almost about 2,000 plus customers, out of which 60 per cent are enterprise customers. Data is relatively industry agnostic. Regardless of the sector, every company possesses data. We have our customers in all kind of industries. But to name a few, it primarily includes companies in the pharmaceutical, information technology, telecommunications, and banking, financial services, and insurance (BFSI) industries.

What are the some latest technologies you are venturing into?
Currently, the global trend is shifting towards electric mobility. We take pride in being pioneers in this movement, having introduced India's first electric bus, Olectra Greentech, as part of our group of companies. Our subsidiary, ETO Motors, specialises in electric three-wheelers. Leveraging ETO Motors as a foundation, Goldstone Technologies has recently shifted its focus to developing applications for zero-emission platforms. This includes creating software solutions essential for electric vehicles, such as fleet management, carbon credits, and insurance-as-a-service.

We've also entered the realm of application development, specifically focusing on creating applications for electric vehicles. To further expand our reach, we recently entered into a joint venture with a German company called Quantron AG. Quantron produces electric and hydrogen trucks in Germany, while Goldstone Technologies is a company based in India that focuses on data analytics and application services. Together, we've announced a joint venture named Roqit, where our collaborative efforts are geared towards building a platform similar to Salesforce. This platform aims to be a zero-emission solution for the entire electric and non-fossil fuel sector. It's an ambitious project that aligns with the growing demand for sustainable and environmentally friendly technologies.

What is Indian markets’ response towards the changing landscape towards digitalisation?
The manufacturing landscape is undergoing significant changes, especially with the Make in India initiative. This transformation isn't limited to major players; even smaller companies are actively participating. These companies are making a lot of effort in terms of bringing in the data maturity within their organisation and have realised the strength of data analytics to be implemented in every region.

This trend is incredibly encouraging, and it's where we're directing most of our efforts to provide enhanced solutions for our customers. Our consultants play a crucial role in understanding the data flow within these companies, analysing data at various intervals—from daily to half-hourly—and offering tailored solutions. Some of these companies are already using business intelligence tools like Zoho or HRMS, but there's no awareness of it. In some cases, this education is also being imparted to them.

In my suggestion, SMEs and MSMEs should refrain from channelling funds into extensive hardware and infrastructure investments and instead maintain them at a basic level. To enhance efficiency, scalability, and cost-effectiveness, a significant emphasis should be placed on investing in cloud technology. While there might be a slight initial premium, many cloud solutions operate on a pay-as-you-go model. Additionally, cloud technology offers enhanced security without the need for dedicated personnel to manage it. Hence, companies should consider adopting this technology as a crucial step in initiating their digital transformation journey.

What are some challenges companies face while adapting to these digital solutions?
I don't see many challenges. However, there are still a few very small, old-fashioned companies that prefer traditional methods. Nevertheless, even they are recognising the potential of data analytics. They understand that leveraging the strength of data analytics can enable them to introduce more products to the market and gather feedback in a more organised and efficient manner.

Also, India is an extremely price-sensitive market. Ultimately, everyone scrutinises the cost of a solution. In the past, around five years ago, companies didn't allocate a budget specifically for business intelligence or data analytics when planning for the next financial year. However, as companies adopt solutions like data analytics, the landscape is changing.

When a finalised product is obtained, it involves various related industries in its production. If a major conglomerate is producing these products then smaller companies become their vendors in the process. Big conglomerates have embraced these technologies and when they see these companies using data analytics or BI tools they get inspiration. In some cases, these larger players are also mandating that most of their vendors have to be compliant with some of these solutions. I see all of this as a very encouraging environment.

What about you overseas operations?
Although our current primary focus is on India, we have recently secured approval for a three-year business plan that involves substantial investments to replicate our solutions in overseas markets. Our expansion will encompass Europe, the United States, and the Middle East, with efforts underway to establish offices in these regions. In India, our offices are situated in Hyderabad, Delhi, Bangalore, and Mumbai, and we are actively exploring the establishment of subsidiary office spaces beyond India.

Presently, India exhibits a relatively low adoption rate of electric mobility, whereas Europe boasts the highest penetration in this regard. As our company operates globally with its headquarters in Europe, our initial emphasis is on targeting and expanding in these markets. While we currently lack insights into how these markets will respond and which solutions customers in these regions will embrace, we anticipate that entering more mature markets will facilitate the implementation of our offerings. Consequently, the upcoming year will witness rapid expansion in these areas as we have laid a robust foundation for growth there.

What are some of you future plans?
We're actively embracing and investing in Business Intelligence (BI) solutions. While this may be considered news for the future, we're gearing up for significant expansion to facilitate inorganic growth. Currently, our focus lies in evaluating numerous smaller companies and startups specialising in AI and technology. This strategic move may result in several acquisitions, making it an area to watch for potential news updates.