Explore Sri Lanka
No Result
View All Result
  • About Us
  • Home
  • Privacy Policy
  • Terms and Conditions
  • What’s On
  • What’s On April 2024
  • What’s On August 2024
  • What’s On December
  • What’s On July 2024
  • What’s On June 2024
  • What’s On March 2024
  • What’s On May 2024
  • What’s On October 2024
  • What’s On September 2024
  • Home
  • Issues
    • 1983 - 1990
      • 1987
        • May 1987
        • June 1987
        • July 1987
        • August 1987
        • September 1987
        • October 1987
        • November 1987
        • December 1987
      • 1988
        • January 1988
        • February 1988
        • March 1988
        • April 1988
        • May 1988
        • June 1988
        • July 1988
        • August 1988
        • September 1988
        • October 1988
        • November 1988
        • December 1988
      • 1989
        • January - March 1989
        • April 1989
        • May 1989
        • June 1989
        • July 1989
        • August 1989
        • September 1989
        • October 1989
        • November 1989
    • 2010 - 2019
      • 2010
        • January 2010
        • February 2010
        • March 2010
        • April 2010
        • May 2010
        • June 2010
        • July 2010
        • August 2010
        • September 2010
        • October 2010
        • November 2010
        • December 2010
      • 2011
        • January 2011
        • February 2011
        • March 2011
        • April 2011
        • May 2011
        • June 2011
        • July 2011
        • August 2011
        • September 2011
        • October 2011
        • November 2011
        • December 2011
      • 2012
        • January 2012
        • February 2012
        • March 2012
        • April 2012
        • May 2012
        • June 2012
        • July 2012
        • August 2012
        • September 2012
        • October 2012
        • November 2012
        • December 2012
      • 2013
        • January 2013
        • February 2013
        • March 2013
        • April 2013
        • May 2013
        • June 2013
        • July 2013
        • August 2013
        • September 2013
        • October 2013
        • November 2013
        • December 2013
      • 2014
        • January 2014
        • February 2014
        • March 2014
        • April 2014
        • May 2014
        • June 2014
        • July 2014
        • August 2014
        • September 2014
        • October 2014
        • November 2014
        • December 2014
      • 2015
        • January 2015
        • February 2015
        • March 2015
        • April 2015
        • May 2015
        • June 2015
        • July 2015
        • August 2015
        • September 2015
        • October 2015
        • November 2015
        • December 2015
      • 2016
        • January 2016
        • February 2016
        • March 2016
        • April 2016
        • May 2016
        • June 2016
        • July 2016
        • August 2016
        • September 2016
        • October 2016
        • November 2016
        • December 2016
      • 2017
        • January 2017
        • February 2017
        • March 2017
        • April 2017
        • May 2017
        • June 2017
        • July 2017
        • August 2017
        • September 2017
        • October 2017
        • November 2017
        • December 2017
      • 2018
        • January 2018
        • February 2018
        • March 2018
        • April 2018
        • May 2018
        • June 2018
        • July 2018
        • August 2018
        • September 2018
        • October 2018
        • November 2018
        • December 2018
      • 2019
        • January 2019
        • February 2019
        • March 2019
        • April 2019
        • May 2019
        • June 2019
        • July 2019
        • August 2019
        • September 2019
        • October 2019
        • November 2019
        • December 2019
    • 2020 - 2024
      • 2020
        • January 2020
        • February 2020
        • March 2020
        • September 2020
        • October 2020
        • November 2020
        • December 2020
      • 2021
        • January 2021
        • February 2021
        • March 2021
        • April 2021
        • May 2021
        • June 2021
        • July 2021
        • August 2021
        • September 2021
        • October 2021
        • November 2021
        • December 2021
      • 2022
        • January 2022
        • February 2022
        • March 2022
        • May 2022
        • April 2022
        • June 2022
        • July 2022
        • August 2022
        • September 2022
        • October 2022
        • November 2022
        • December 2022
      • 2023
        • January 2023
        • February 2023
        • March 2023
        • April 2023
        • May 2023
        • June 2023
        • July 2023
        • August 2023
        • September 2023
        • October 2023
        • November 2023
        • December 2023
      • 2024
        • January 2024
        • February 2024
        • March 2024
        • May 2024
        • April 2024
        • June 2024
        • July 2024
        • August 2024
        • September 2024
        • October 2024
        • November 2024
        • December 2024
    • 2025-2029
      • 2025
        • January 2025
        • February 2025
        • March 2025
        • April 2025
        • May 2025
  • For Digital Subscription
  • About Us
  • What’s On
    slide
No Result
View All Result
Explore Sri Lanka
No Result
View All Result
  • Home
  • Issues
    • 1983 - 1990
      • 1987
        • May 1987
        • June 1987
        • July 1987
        • August 1987
        • September 1987
        • October 1987
        • November 1987
        • December 1987
      • 1988
        • January 1988
        • February 1988
        • March 1988
        • April 1988
        • May 1988
        • June 1988
        • July 1988
        • August 1988
        • September 1988
        • October 1988
        • November 1988
        • December 1988
      • 1989
        • January - March 1989
        • April 1989
        • May 1989
        • June 1989
        • July 1989
        • August 1989
        • September 1989
        • October 1989
        • November 1989
    • 2010 - 2019
      • 2010
        • January 2010
        • February 2010
        • March 2010
        • April 2010
        • May 2010
        • June 2010
        • July 2010
        • August 2010
        • September 2010
        • October 2010
        • November 2010
        • December 2010
      • 2011
        • January 2011
        • February 2011
        • March 2011
        • April 2011
        • May 2011
        • June 2011
        • July 2011
        • August 2011
        • September 2011
        • October 2011
        • November 2011
        • December 2011
      • 2012
        • January 2012
        • February 2012
        • March 2012
        • April 2012
        • May 2012
        • June 2012
        • July 2012
        • August 2012
        • September 2012
        • October 2012
        • November 2012
        • December 2012
      • 2013
        • January 2013
        • February 2013
        • March 2013
        • April 2013
        • May 2013
        • June 2013
        • July 2013
        • August 2013
        • September 2013
        • October 2013
        • November 2013
        • December 2013
      • 2014
        • January 2014
        • February 2014
        • March 2014
        • April 2014
        • May 2014
        • June 2014
        • July 2014
        • August 2014
        • September 2014
        • October 2014
        • November 2014
        • December 2014
      • 2015
        • January 2015
        • February 2015
        • March 2015
        • April 2015
        • May 2015
        • June 2015
        • July 2015
        • August 2015
        • September 2015
        • October 2015
        • November 2015
        • December 2015
      • 2016
        • January 2016
        • February 2016
        • March 2016
        • April 2016
        • May 2016
        • June 2016
        • July 2016
        • August 2016
        • September 2016
        • October 2016
        • November 2016
        • December 2016
      • 2017
        • January 2017
        • February 2017
        • March 2017
        • April 2017
        • May 2017
        • June 2017
        • July 2017
        • August 2017
        • September 2017
        • October 2017
        • November 2017
        • December 2017
      • 2018
        • January 2018
        • February 2018
        • March 2018
        • April 2018
        • May 2018
        • June 2018
        • July 2018
        • August 2018
        • September 2018
        • October 2018
        • November 2018
        • December 2018
      • 2019
        • January 2019
        • February 2019
        • March 2019
        • April 2019
        • May 2019
        • June 2019
        • July 2019
        • August 2019
        • September 2019
        • October 2019
        • November 2019
        • December 2019
    • 2020 - 2024
      • 2020
        • January 2020
        • February 2020
        • March 2020
        • September 2020
        • October 2020
        • November 2020
        • December 2020
      • 2021
        • January 2021
        • February 2021
        • March 2021
        • April 2021
        • May 2021
        • June 2021
        • July 2021
        • August 2021
        • September 2021
        • October 2021
        • November 2021
        • December 2021
      • 2022
        • January 2022
        • February 2022
        • March 2022
        • May 2022
        • April 2022
        • June 2022
        • July 2022
        • August 2022
        • September 2022
        • October 2022
        • November 2022
        • December 2022
      • 2023
        • January 2023
        • February 2023
        • March 2023
        • April 2023
        • May 2023
        • June 2023
        • July 2023
        • August 2023
        • September 2023
        • October 2023
        • November 2023
        • December 2023
      • 2024
        • January 2024
        • February 2024
        • March 2024
        • May 2024
        • April 2024
        • June 2024
        • July 2024
        • August 2024
        • September 2024
        • October 2024
        • November 2024
        • December 2024
    • 2025-2029
      • 2025
        • January 2025
        • February 2025
        • March 2025
        • April 2025
        • May 2025
  • For Digital Subscription
  • About Us
  • What’s On
Home July 1988

A Successful Entrepreneur of Sri Lanka

by
0
329
SHARES
2.5k
VIEWS
Share on FacebookShare on Twitter
PDF Button

More than half a century ago a 9-year-o/d boy came· with his family to settle in a village in Sri Lanka. Today, at the age of 66, Mr. A. Y. S. Gnanam is one of the leading industrialists of the nation. Shalini Wadhwa of EXPLORE SRI I.ANKA interviews Mr. Gnanam to etch the profile of a man of integrity, vision and rare entrepreneurial skills.

Mr A. Y. S. Gnanam, Director, St Anthony’s Consolidated Ltd.

Mr. Gnanam is definitely not an example of a man born with a silver spoon. His parents could never have imagined that the son born to them in their modest house in South India would one day become a multimillionaire. Hailing from a family of small-scale businessmen (his father ran a grocery shop), Mr. Gnanam considers himself to be without any exceptional talents and a very ordinary man. With no educational background, training in marketing or management qualifications he has proved the age-old adage that “man is his own master”. Recalling the family background and the limited resources he confesses with obvious pride, “I am a selfmade man-this is the result of my enterprise, hard work and honesty.” Educated in a small village school, from a very young age he had dreams of building one day the industries and factories which he now owns. Starting with the collection and export of scrap iron during World War II, he built up his financial resources, and eventually with a paltry sum of Rs. 10,000, considered astronomical in those days, he commenced the import of new hardware items. He took no loans from any bank and all the earnings were recycled back into the business to maintain its cash flow. Later on credit facilities and loans were obtained from financial institutions. “When the company ran the first overdraft of Rs. 25,000, it seemed like a very big amount,” he reminisces. The first investment was made in land, a wise decision it would seem since it was to pay rich dividends later.

Today at the site stands St. Anthony’s Consolidated Building. During Mr. Bandaranaike’s government he was the leading importer of all hardware with 50% of the market share. Most of this business was carried out with England since Japan’s presence was yer to be felt in the world market. However, a difficult time was faced by every business house when ini°positions and restrictions were placed on all imports: later, soon after incentives were offered to entrepreneurs, Mr. Gnanam entered the fledgling field of textiles garments. Alexandra Industries, now the main exporters of sweaters to Germany, France and America, was also set up. He played a major role in the industrialization process gripping the country during Mrs. Bandaranaike’s government, and he declares emphatically: “Any country can develop if the people are disciplined.” Having had the opportunity to travel abroad quite frequently, Japan is his favourite country. “I admire the discipline of its people. The industrial and technological growth is staggering.”

Today Mr. Gnanam’s three sons, all educated abroad, help manage the expanding network of St. Anthony’s Industries, St. Anthony’s Consolidated, Cement Factory, and their textile and garment industries. The first modern spinning mill was established by him, and one of his sons continues to be a director there. Mr. Gnanam’s wealth has, however, made no difference in his outlook and way of life. He continues with his 12 hour a day work schedule managing the affairs of his empire. Modest and humble he has not fallen prey to the weaknesses of the nouveau riche: Mercedes cars, flashy life-styles, shallow principles and deteriorating values. Having suffered heavy losses during the 1983 ethnic riot of the country – when several of his properties were burnt down – there is no visible sign of bitterness, only an unshakeable belief that “if you are good and believe in God, nothing can destroy you. All the problems disappear in the face of your strength and capabilities.” The rebuilt buildings and factories stand testimony to his convictions.

During the interview Mr. Gnanam expresses his views on: Economic Philosophy I am a staunch believer in a free economy and the opportunities it offers for growth and development. Man has to be motivated to work for himself and for the country – working for his own gains, he produces more thus benefiting the country as a whole. Capitalism is the only answer for economic development as everybody gets a chance – educated or uneducated. A man of ability and vision can achieve great heights. Having travelled to countries with state controls and repressive economies like China and Russia, I realized that their experiments with communism and socialism have nor worked and controls have stifled enterprise. The quality of life is very poor indeed. However, I also found that having realized their systems are not working, they are now offering more incentives to individuals and more independence to the entrepreneurs.

International and Local Politics

It is my belief that the politicians should be good at heart and have the welfare of the people in mind while formulating policies and laws of the country. The policies adopted should offer opportunities to everybody and be related to shortening the gap between the rich and the poor-lessen the economic difference and open avenues for employment. I feel the solutions lie in learning from the industrialized nations of the world such as Japan. We have to think together as a people, as a nation-overcome our religious, language and caste barriers and look to the future-build our country as a power to be reckoned with and offer the future generations peace and prosperity. Peace is at our doorstep and yet is eluding us. The solutions to our ethnic problems are offered yet not accepted by various groups, as a result the country is suffering. Discipline in thought and action is the key to our country’s success and future. If the people of a nation are not disciplined, the country has no future, no prospects.

Philosophy of Life

We are all born equal. Unfortunately it is man who has created the differences of caste and religion. I envisage man to be the creator and builder of his own fate, his own destiny. The centuries old doctrines and religious expositions that a man is born rich or poor, brahmin or scheduled caste according to his fate and God’s will hinder and retard the achievements and success that man is capable of. I believe in myself, my abilities, my strength and that as a result of my hard work I shall achieve what I want.

Education

Higher education in today’s complex, competitive world of changing technology and industrialization is essential. My very small contribution to this has been the forming of a committee which, on the recommendation of various universities, annually awards 20 scholarships to outstanding students from different sections and communities divided according to regions.

Ambitions and Future Plans

My one unfulfilled ambition is to build a university in the name of my father. I am not materialistic and it is neither my ambition nor my goal to make more money. Yet I want to achieve and create more in my lifetime and to be involved in the continuous process of improving. I hope I am doing so. We opened a new factory in June, but there are no other plans in the offing for the immediate future.

Sri Lanka’s Future

I have ample faith in the future of my country and know that it will be good. I am conscious of the talents and intelligence of our people and know that even the northern and eastern regions wrecked by the crisis of the last few years can develop very quickly once peace is restored. During my visits abroad to Korea; Taiwan and other countries I have met innumerable businessmen who are ready to invest in Sri Lanka because of the low cost and availability of labour. Once we solve our ethnic and racial problems and concentrate on development, we can and shall grow at a tremendous speed.

Business Policies and Ethics

Over the years our organization has built a name and reputation which I value more than money. Our policy is ”Truth and Honesty” in all our dealings­with our clients and our business associates. Customer satisfaction is our priority and people come to us even if they have to pay a little more because they know that we are reliable. Our credibility brings back our clients in spite of the killing competition which is now prevalent in the market. I tell my children to invest in the future name and reputation of the company by being honest and truthful today. 

Tags: businessfeaturedgeneral
Previous Post

In Search of Stamps in Sri Lanka

Next Post

Hikkaduwa’s Holiday Hideaway

Next Post
Hikkaduwa’s Holiday Hideaway

Hikkaduwa's Holiday Hideaway

No Result
View All Result

Categories

exlpore-sri-lanka-logo

Location

20-2/1 Lauries Place Facing R A de Mel Mawatha Colombo 04.

Contact

(+94) 715 134 134

Email

info@btoptions.com

© 2023 BT Options. All Rights Reserved.