Piyush Desai - chairman and managing director, Wagh Bakri tea group

My father gave me the most valuable advice I have received: Never compromise on quality and ethics because they always pay in the long run. He warned me against impressing the consumer by playing tricks or selling half-truths. Ensure that there’s the right balance between competitive pricing and high standards. This applies not just to tea but any other commodity or service one might provide. I could have ignored this and achieved commercial success, say, higher turnover or a few thousand crores more in revenue. But whenever someone suggests cutting corners on quality, saying ‘no one will notice’, or giving more discounts to dealers, I remember what my father told me. In an industry that’s growing at 5% to 6%, our market share is increasing at a rate of 8% to 10% because I have followed his advice. Wagh Bakri takes three to four years to earn profits from a new state because we do not compromise on quality and ethics. A multinational would break even in half that time.”