Meet five of Nepal’s Generation Next Business Leaders skillfully navigating their companies through today’s complex challenges

Legacy is more than an inheritance; it is a responsibility – a bridge between the past and the future. In Nepal’s business ecosystem, where heritage and innovation often walk hand in hand, the journey of carrying a legacy forward is both a privilege and a challenge.

For many Nepali businesses, legacy is hardwired in family traditions and passed down through generations. Yet, in a world driven by rapid technological advancement, shifting consumer preferences, and global competition, sustaining and evolving requires more than just continuity, it demands reinvention. Today, it’s even more evolved with algorithms and AI driving opinions and shaping behaviour. Thus, transforming generational practices into scalable solutions while integrating cutting-edge technology demands greater adaptability and vision.

This opinion segment brings together the voices of Suryansh Vaidya, CEO, Ather (VOITH); Jai Golchha, Director, Shangrila Motors; Veda Satasha Shrestha, Vice President, Agni Group; Aditya Dugar, Director, Century Group of Companies; and Gaurav Sharda, Director, Sharda Group who are all successfully redefining their inherited businesses to meet the demands of a modern marketplace. Theirs is a challenge of not just giving business continuity successfully but also putting their stamp of individuality into existing business frameworks to stay relevant and ahead of the competition.

 

Can you tell us a bit about your early exposure to the family business? Did you always envision yourself joining the business?

Suryansh Vaidya: Growing up, I always had a strong connection to the office environment and work life. Sundays and occasional afternoons after school were often spent at the office with my family, an experience I remember fondly. I would sit in my parents’ office, doing my homework while they attended meetings. Though I did not fully understand everything at the time, being in that space allowed me to immerse myself in the rhythm of work life in Nepal. As a curious child, I often asked questions after their meetings, trying to grasp what had transpired. They were always patient, taking the time to explain things in a way I could understand which nurtured my early fascination with business and decision-making.

This upbringing shaped my perspective and solidified my interest in the path I am on today.

I often reflect on why I chose this direction, but deep down, it feels like a natural extension of what I have always wanted to pursue. After finishing high school in Nepal, I moved to Boston for my undergraduate studies, graduating in 2020 amidst the Covid 19 pandemic. Like many, I aspired to work abroad, but the hiring freeze and rescinded offers due to the pandemic brought me to a crossroads. Ultimately, I decided to return home and start my career in Nepal; a decision I have never regretted. Since then, I have enjoyed every moment of my work, embracing the challenges and opportunities that come with it.

Jai Golchha: Growing up I was always aware of my predecessors’ contributions in several spheres of business in Nepal, especially in trading and industry. I was only really exposed to the workings of business when I returned to Nepal after completing my undergraduate degree from the US in 2020.

Growing up, I never envisioned myself as a businessperson. I really enjoyed Physics growing up and believed I would do some kind of research or engineering work. However, as I matured, I realised the kind of financial and social freedom businesspeople can attain if they are able to establish successful enterprises. This one fact eventually pushed me to pick up the family business.

Veda Satasha Shrestha: My parents founded Agni Group only a few years before I was born, so I was exposed to the business from a young age and grew up with the company and seeing my parents as working professionals my whole life. This was always inspiring to me. My parents always encouraged my siblings and me to choose a career path aligned with our passions without ever pressuring us to join the family business.

As I was choosing a career path, I knew I wanted to work closely with people. I specialised in Human Resources with this in mind which provided me with the opportunity to work in various industries.

Initially, I had no plans to join Agni Group. However, on returning to Nepal, I decided to contribute to the organisation my parents had worked so hard to build and support them. Before returning to Nepal, I gained valuable experience working at Vivir Healthcare in Melbourne, Australia, in 2016 and at Mahindra & Mahindra in Mumbai in 2017. I believe that gaining that external exposure was essential for enhancing my career and broadening my perspective.

Aditya Dugar: I started off my career working in the Corporate Banking Division of Sunrise Bank wherein I was required to prepare Credit Approval Packages for big corporates seeking debt facilities. Following this brief yet very impactful exposure into the corporate world, I joined the family business in 2018. It was a challenging yet interesting transition into family business because I had a brief idea about how I am going to phase out my exposure into different departments of the company.

It would be practically impossible to oversee the entire business in the initial phase itself so I started off with sales and business development, slowly and gradually getting a hang of the departments and verticals too.

I always knew that I had to join the family business being the only son, even when I was studying abroad for my Bachelor’s and Master’s. I did try my hand in other part-time work too but it was all just for experience. I knew that family business is truly where my career lies.

Gaurav Sharda: I began my journey in the family business immediately after completing my Bachelor’s degree, working as an intern in the sales and marketing department of our FMCG division. My role involved managing marketing communications, planning budgets and also the development of new brands from scratch with the feedback we received from the customers. This hands-on experience helped me understand the intricacies of the business early on.

After completing my education, I worked closely under my elder brother, who guided me and shared invaluable lessons about business. While I always envisioned contributing to the family enterprise, I took time to solidify my foundation through academic pursuits. My Bachelor’s and Master’s degrees in India provided me with the tools and knowledge to contribute meaningfully to the family business.

I have developed a distinct philosophy for working in Nepal centred on fostering an environment where ideas can come from anyone. I value individuals who take ownership and responsibility beyond their job descriptions, aligning themselves with the company’s vision and actively working toward it.

Suryansh Vaidya

CEO, Ather (VOITH)

What has been the most challenging aspect of transitioning into a leadership role? How do you balance preserving the legacy while driving innovation and change?

Suryansh Vaidya: When I first started working, I did not have many expectations about what work life in Nepal would entail. My prior experience included internships during college and a role with a large international business house after graduation. These opportunities taught me invaluable lessons about leadership, driving results, breaking traditional work habits, and pioneering innovation in industries.

One particularly impactful experience was at Deerwalk Inc where I gained insight into Nepal’s immense potential. Another role in a top international family office gave me a front-row seat to how top global businesses operate and grow. These experiences significantly broadened my perspective and prepared me for the challenges I would face when I returned to Nepal to work.

I have developed a distinct philosophy for working in Nepal centred on fostering an environment where ideas can come from anyone. I value individuals who take ownership and responsibility beyond their job descriptions, aligning themselves with the company’s vision and actively working toward it.

Simon Sinek, the entrepreneur and motivational speaker, often uses the metaphor that businesses should not focus solely on making money. Instead, he likens money to fuel; it is essential to propel the car forward, but the real goal is to reach the destination. I deeply resonate with this philosophy. For me, the objective - as a leader - is to help every member of the team unlock their maximum potential.

Guided by this macro perspective, I have tackled numerous micro challenges but maintaining this broader vision has made it easier to navigate obstacles and stay on course toward achieving our goals.

Jai Golchha: The hardest part about learning to be a leader is to become comfortable with not being sure-footed all the time. I am still learning to develop an appetite for calculated risks because I am inherently not a big risk-taker. Apart from that, putting the right people in the right places and being heavy handed when required are crucial skills I am still picking up.

To be honest, managing a balance between my family’s legacy while bringing innovation and change is not something that is on my mind. I just try to learn all the time and execute to the best of my abilities with the resources available to me.

Veda Satasha Shrestha: I started as a trainee at Agni in 2017 and it has been a long, learning journey, and last year I was given the opportunity to step into a leadership role. These past seven years have been pivotal in understanding the legacy my parents have created while working to enhance Agni’s vision for the present and future.

The transition has been an organic one filled with valuable learnings and immense support from the entire Agni family which has been instrumental in shaping me as a leader.

Balancing the preservation of legacy with the introduction of innovation and change becomes seamless when your vision is clear. Continuous personal development is essential, and it is equally important to ensure the company evolves as well. Innovation and change are constants, and preserving the legacy comes naturally when your core values are deeply ingrained.

Aditya Dugar: Living up to organisational and societal pressure was and is the most difficult part of getting a leadership role. My father, Moti Lal Dugar, is the Chairman of this group of industries while also being active in politics at the same time. When someone reaches a grand stature such as his, it is natural for the child to be expected to conform or exceed this stature. It is more of a psychological challenge than experiential.

Having studied from abroad, I was exposed to a lot of technological and managerial advancements which I was very keen to implement in this organisation. A lot of new technology, software and upgradation were seen in the organisation after I started overseeing the management which increased both efficiency and efficacy in the workplace. But at the same time, it was vital to remain true to the core values and vision of the company; providing international standard of products, put Nepal on the global FMCG map, ensuring a democratic workplace wherein feedback and suggestions are taken from all levels of the workforce.

Gaurav Sharda: The most challenging aspect of transitioning into a leadership role was not only leading a new team but also doing so while venturing into a new trade for the family. When we decided to enter the highly regulated liquor import business, it was completely uncharted territory for us as a family business. Understanding the complexities of regulations, compliance and market dynamics was daunting. Building relationships with brand owners, distribution partners and regulatory authorities added to the challenge.

Additionally earning the trust and respect of the brand owners as a young leader was a significant hurdle. It required demonstrating competence, making thoughtful decisions and showing consistency in my approach. Another challenge was balancing short-term operational demands with long-term strategic planning, especially when establishing a foothold in a highly competitive and heavily regulated industry.

Fortunately, with the invaluable guidance and support of my father and elder brothers, I was able to navigate these challenges. Their mentorship and encouragement helped me overcome initial hurdles and gain confidence in managing the business while laying a strong foundation for its growth.

During the beginning of any kind of strategic planning differing opinions can be agitating. If you allow yourself to engage in dialogue and keep your emotions aside as much as possible, a great idea can be chiselled out of an ordinary thought.

Jai Golchha

Director, Shangrila Motors

How do you manage work-life balance?

Suryansh Vaidya: Balancing all aspects of life is no easy feat. While I am not naturally the best at time management, I have been actively working on improving myself to achieve a more balanced life. I started applying various tools and frameworks that have proven helpful such as time blocking, sprints, and advanced planning on yearly, monthly, weekly and daily levels. These practices have made a noticeable difference in how I manage my time and priorities.

Working with my family has its unique advantages – it creates an environment where conversations about growth and direction are constant, and everyone is aligned on our shared goals. One thing we have established over time is a set of informal rules that help us balance expectations and emotions, allowing us to effectively separate personal and professional life.

Currently, we are taking steps to formalise these practices by developing a framework and a family constitution. This initiative will help us maintain and strengthen the delicate boundary between personal and work life, ensuring that both aspects remain harmonious and sustainable in the long run.

Jai Golchha: For me a little bit of everything is the way to go. Since I live in a joint family there is no shortage of time with my family. Other than that, for my own enjoyment when I am not at work, I am either playing sports, gaming, socialising with cousins or friends and other things along these lines.

Veda Satasha Shrestha: Balancing work and life become increasingly challenging especially when you have personal investment in the organisation you are working under. It is easy to constantly discuss work at home but we have made a conscious decision to have boundaries between work and home. The best way to maintain balance is by making a conscious effort to keep work discussions confined to the office as much as possible. Further, creating a routine where having time for yourself, your health and your loved ones is extremely important to me.

Aditya Dugar: To be honest, I have a fairly simple and subtle way of managing work-life balance. Grind for at least ten hours at work all day and once the work hours are over, all my time goes to family, friends and for my wellbeing. I do not agree with the recent comments made by the Founder of L&T that all seven days should be given to work because in such case there is no time for self and loved ones. One’s mental sanity is at stake. Is there nothing that we learned from the brutal episode of an Ernst and Young employee who was given an abundance of workload and stress which led to an unfortunate and untimely death? All our employees at Century are required to work dedicatedly during work hours but once the shift is over, we do not expect any work-related communication.

Gaurav Sharda: Balancing work and family life is always a challenge, particularly when the lines between personal and professional responsibilities blur. I make an effort to keep work within office hours as much as possible, minimising laptop use and replying to emails once I am home. I also avoid work-related activities on Saturdays to spend quality time with my family.

However, as a business owner, there are times when work demands spill into personal time. I am fortunate to have a supportive wife and children who understand the nature of my responsibilities and accommodate them when needed.

Continuous personal development is essential, and it is equally important to ensure the company evolves as well. Innovation and change are constants, and preserving the legacy comes naturally when your core values are deeply ingrained.

Veda Satasha Shrestha

Vice President, Agni Group

How do you navigate differences in opinions or approaches with other family members when strategising and planning?

Suryansh Vaidya: We are fortunate to have all our family members actively involved in the business, each contributing to our shared goals and vision. My father, Suraj Vaidya, brings invaluable experience and a deep understanding of what the country needs for a brighter future, always prioritising ethics in every endeavour. My mother, Ritu Singh Vaidya, is remarkable at organising and managing operations, ensuring that growth is both sustainable and efficient.

As for my siblings and me, we are carving out our own paths within the business, each bringing unique styles and approaches. We emphasise listening, sharing ideas, and learning from one another, ensuring that our actions align with the overarching vision and mission of our businesses. Together, we strive to move forward as a cohesive unit, building on the foundation of shared values and collective growth.

Jai Golchha: I embrace differences in opinion. I think without there being a little bit of friction in the decision-making process a great idea cannot come to fruition. Of course, during the beginning of any kind of strategic planning differing opinions can be agitating. If you allow yourself to engage in dialogue and keep your emotions aside as much as possible, a great idea can be chiselled out of an ordinary thought.

Veda Satasha Shrestha: In any discussion, there are always different and unique opinions that contribute to a healthy conversation, and the same applies when working with family. We work as a team, and it is crucial to listen to each other’s perspectives while focusing on the overall outcome that benefits the business. Most of the strategising and planning involves conversations that extend beyond just our family, incorporating input from the larger Agni family to ensure the best strategies and plans.

Aditya Dugar: It is natural to have difference in viewpoints and opinions with family not just in family business but in any walk of life. But our approach especially in business is more calculative than sentimental. The pros and cons are compared and contrasted between the family members and the unanimous decision takes the stand. We do not employ an authoritarian approach wherein the head of the business takes all the calls. We also take comments from our HOD’s and then make a decision.

Gaurav Sharda: The best way to navigate differences is through open dialogue. In my experience, most conflicts arise from misunderstandings or lack of communication. I believe in directly addressing concerns by speaking with the involved parties to clarify issues and find common ground to resolve the conflict.

I always strive to create an environment in the workplace that is free from politics, unnecessary partisanship, workload stress and irrational work practices. I firmly believe that our workforce are the pillars of our organisation.

Aditya Dugar

Director, Century Group of Companies

What are three core values you believe are essential for running a successful organisation? How have these values shaped your approach to leadership and decision-making?

Suryansh Vaidya: Teamwork and collaboration. As an avid football fan, I often draw parallels between sports and organisational success. A team of 11 talented players cannot succeed simply by being on the pitch together; they must spend countless hours understanding each other’s roles and responsibilities to perform as a cohesive unit. Similarly, in our organisation, we prioritise fostering empathy and understanding among team members. By putting ourselves in each other’s shoes, we better appreciate each other’s contributions and needs, creating a stronger and more effective team.

Customer and community centric. Listening to and understanding the community we serve makes navigating the path forward much simpler. At Vaidya Energy, the parent company of Ather, we actively involve the Ather Owners’ community in key decisions, such as determining the locations for charging stations and service centres. This approach not only aligns with their needs but also strengthens our relationship with the community. If we were to make these decisions in isolation, assuming we know what’s best, it could have an adverse effect on our brand and its reputation.

Integrity, Honesty and Ethics. In South Asian countries like Nepal, a strong foundation of honesty and integrity is essential, both in the workplace and in the broader business environment. For us, ethics, honesty and integrity are non-negotiable principles that guide decision-making, whether in professional settings or personal life. These values ensure that we build trust, foster sustainability and uphold our responsibilities to all stakeholders.

Jai Golchha: The three core values in running a successful organisation are a strong moral compass, quick imperfect execution over drawn-out perfect planning and execution, and fostering a sense of comradery within any team in an organisation.

These values lie at the heart of how I try to conduct myself as a person and a leader in the making. If you can build a strong team and create an environment in which all the members in the team can thrive any organisation sets itself up for success. All an organisation needs after that are a sound decision making process and some luck.

Veda Satasha Shrestha: If I had to identify three core values that drive me, they would be integrity, curiosity and efficiency; essential for running a successful organisation. I strongly believe in hard work and dedication to refining skills while continuously expanding knowledge through development and upgrading. At the same time, making decisions in a moral and ethical manner is crucial to supporting the organisation’s larger goals. Everything I do is approached with a focus on taking the next step toward achieving a higher purpose.

Aditya Dugar: My core values are aligned with that of the company’s. I discussed about this in the previous question as well. First of all, it is imperative to provide a product to the market which is of the highest standard. There cannot be any compromises in terms of the quality of the product. This also inculcates a safe and hygienic workplace. We are FDA, NS, ISO, Quality Austria and Halal certified which ensures that our production techniques and processes are of the best level.

Secondly, I really want to put Nepal on the global FMCG map. It saddens me when I visit international food exhibitions and people ask me where is Nepal and what is it famous for? Do we ask the same about USA or India? Our domestic manufacturers need their voices to be heard on global platforms so we can boost our production of goods and services. Government plays a very key role in ensuring that our voices are heard and acted upon.

Finally, I always strive to create an environment in the workplace that is free from politics, unnecessary partisanship, workload stress and irrational work practices. I firmly believe that our workforce are the pillars of our organisation. Any department that struggles will bring down the entire organisation. So, it is imperative for me to abide by these core values which in turn increase the productivity, morale and goodwill of our company.

Gaurav Sharda: The three core values I consider essential are integrity, trust and respect. Integrity ensures that we operate transparently and ethically, trust fosters strong relationships with employees, partners and customers, while respect creates a positive and inclusive environment.

I lead by example to instil these values within the organisation. For instance, we have an open feedback policy that encourages team members and partners to share their thoughts directly with me. Regular communication and professional training further reinforce these principles across the organisation. These values guide my leadership style and decision-making.

 

 

 

We have an open feedback policy that encourages team members and partners to share their thoughts directly with me. Regular communication and professional training further reinforce these principles across the organisation.

Gaurav Sharda

Director, Sharda Group

What is your vision of taking the business forward?

Suryansh Vaidya: It is crucial for a business to remain agile, no matter how large it becomes. Peter Drucker, often regarded as the father of modern management, famously stated that the two primary pillars of business are innovation and marketing. To stay relevant, businesses must continuously create value for their customers whether through disruptive innovations or incremental improvements. Stagnation, however, is the surest path to decline.

In today’s fast-changing world, businesses must adapt at an unprecedented pace, which is both a challenge and an exciting opportunity. Even in a market like Nepal, staying prepared to pivot while remaining aligned with long-term goals is essential.

Above all, listening to customers, empowering the team that drives the company’s vision, and enhancing the quality of life for all stakeholders are key. By focusing on these principles, businesses can navigate change while building lasting value and impact.

Jai Golchha: The vision is simple, to become an industry leader in whatever sector I choose to pursue as a business in Nepal; for now, it is the automotive sector. The vision is also to build a company where all stakeholders are satisfied with the company and what it stands for.

For a country that has only recently been recognised as a developing economy, the best way to stay relevant is to research and understand what our superpower neighbours are doing right and emulate it here. Another way to stay relevant in an ever-changing environment is to observe competitors and what they are doing well in the local market and learn from them.

Veda Satasha Shrestha: In the past, I was solely focused on the human resource management and development aspects at Agni Group. Now I have turned my attention to our Agni Logistics business where we work with third-party companies beyond our group. I believe that synergy amongst Agni Group companies is crucial to stay relevant in an ever-changing environment. On our part, as a company we need to ensure that we expand our services in the Nepali market, that we can ensure that we are well equipped to handle any sorts of challenges during hard times and that we are reliable in spite of changes in the environment to the services we provide to our customers.

Aditya Dugar: We are constantly evolving as an organisation. We take into account the recent trends and innovations in the global food market and try to inculcate that in our brand with a hint of the Nepali taste. Our research and development team are one of the best in the country and ensures that we are in sync with what the market wants and what we can supply.

Gaurav Sharda: My vision is to integrate innovation and technology into our operations while staying true to the values that define Sharda Group. We are actively working on digitising our processes to leverage data-driven insights and better understand customer preferences. Enhancing customer experiences and upskilling our workforce are also priorities to ensure sustainable growth.

At Sharda Group, we continuously adapt our portfolio to meet customer demand, whether it is in the imported liquor space, the brands we manufacture, or the consumer electronics we represent in Nepal. We are proactive in identifying emerging trends and bringing in the products and services that align with the market needs. This ensures we can offer a diverse and competitive range of products to our customers.

Sharda Group has always been agile and adaptable to market trends. For example, we entered the electric vehicle market to cater to the growing demand for sustainable mobility and also changed our product offering in noodles and snacks category in line with demands of the consumers, further we also began exporting snacks from Nepal to global markets. By staying proactive and responsive to changes, I am confident we will continue to thrive in an ever-evolving business landscape.