Golyan Group Director Akshay plans to make 5,000 employees stakeholders

Nepal Khabar

When Akshay Golyan was in Spain to pursue his higher studies, Europe’s lifestyle and glittering cities enticed him. He used to think, ‘Life is here’.

He recently completed his MBA from ESADE in Spain. He felt that it is better to live a quality life in Spain or America than returning to Nepal and inheriting the business legacy of his father Pawan Golyan.

“No one remains disenchanted by the lifestyle while studying abroad. I was also attracted,” says Akshay Golyan, “At first I didn’t want to come to Nepal because I wanted to live there.”

However, Father Pawan did not like what his son wanted. He wanted the business empire built by the Golyan family in Nepal to be carried forward by son Akshay, nephew Anant, and Shakti.  

Pawan believed that when he earns, the country should also earn. Therefore, he was drawing the future of his children in Nepal itself.

Pawan, who is almost 65 years old, has established 16 companies under the Golyan Group in the fields of industry, hydropower, agriculture, banking, and construction. Pawan and his brother Basu Dev took over the business started by Sohan Lal Golyan. That is why he wanted his nephew and son Akshay to follow in his footsteps.

However, Akshay, who completed his studies in 2014, spent two years in America and Spain. Pawan wanted Akshay, who was reluctant to come to Nepal, to leave his job and return to his country. He asked his son to come to Nepal.

Akshay returned to Nepal in 2016. Akshay Golyan, who came to Nepal, is now the executive director of the Golyan Group, which is operating 16 companies.

Looking at his father’s business, Akshay thought – it is a family business, it does not require much effort to run it. However, after spending two years at Reliance Spinning Mills and working with the products, management group, and employees, he saw and realized how hard his father had to work.

On the other hand, Akshay’s love for foreign countries gradually died down when he started working hard in Nepal.

“After returning to Nepal, my opinion that one should live a quality life has changed. After seeing the hard work of my father and grandfather in business and realizing how their hard work is having a positive impact not only on the Golyan family but on the country as a whole, I lost my desire to return abroad,” he said.

While completing his SLC from Lincoln School in Kathmandu, Akshay felt that business is only a field to earn money and become rich. However, his opinion, now, has changed. Now he feels that business is the basis for leading the employees and the entire country toward prosperity.

Many say that a person who wants to succeed in business should not be emotional. However, Akshay says that there is always an emotional side to the company.

He says, “When you see the company’s condition is good, you feel happy. When you hear bad things, when the employee is unhappy, you will feel disappointed.”

His companies are doing an annual business of nearly 32 billion rupees. He is trying to stop the young people from leaving the country.

Akshay thinks, “Both the country and the businessmen can become rich only when the youth migration is stopped through business.”

Chairman Pawan and Vice Chairman Basu Dev of Nepal’s renowned business Golyan Group are handing over their professional legacy to the third generation. Basu Dev’s two sons Shakti and Anant are ready while Pawan’s son Akshay is handling the business leadership.

Golyan Group is currently operating industries and banks such as The Residence at Hyatt Place, Reliance Spinning Mills Ltd., Mato, Westar Properties, NMB, Dhago, Pure Energy, Commercial Farming, NIC Asia, Nepal Life, Asian Insurance, Shivam Plastic Industries. Regarding hydropower, this group operates Upper Balephi, Balephi, Mizu Energy, KBNR Isuwa Hydro, Tarap Khola Hydro, Mugu Khola and Upper Mugu Khola Hydro, Namlang Khola and Bhotekoshi Khola Hydro.

Akshay on making employees investors
Akshay feels that since his previous generations have worked hard to grow the business, now the third generation does not have to spend so much time on it. His main objective is to improve the relationship between employees and managers in a business that has already been established and to give employees a sense of ownership.

Akshay is launching a new plan to make more than 5,000 employees feel connected to the company by making them the owners of the company.

“We want to make employees stakeholders as well. Any business can progress easily if skills are combined with the sense of ownership,” he says.

Akshay is of the opinion that if it is possible to make 5,000 businessmen and business owners, the business system of Nepal will change.

“Shares are allocated as employee shares abroad. They can invest there. After getting his money, the company is also losing his money,” he said.

Akshay says that earlier promoter investors were playing a decisive role, in changing the system, the employees have been given the right to make decisions.

“In Nepal too, we are trying to move to a model where employees can remain stockholders of the company,” he said.
 Plan to invest Rs 4 billion more in hydropower in 5 years 
Golyan Group has been investing mostly in the agriculture and energy sector till now. Akshay says that he has invested one billion in the renewable agriculture sector and nearly one and a half billion in hydropower. In the next five years, he is planning to invest about four billion rupees in the hydropower sector alone.

He argues that the government and the private sector have not been able to tap the potential in agriculture and hydropower, where the world has seen immense potential.

He says, ‘There is immense potential in the hydropower sector. We are increasing investment in this sector. In the next 4 to 5 years, we are planning to increase the investment worth five billion.

He said that in the last three years, the government has not entered into a new power purchase agreement (PPA) with the private sector, and the private sector has further collapsed.

He says, ‘In the absence of PPA, investment is at risk. The private sector is disappointed with hydropower because they have to pay only interest.

Akshay sounded a bit disappointed that he could not work as much as he wanted in the agricultural sector. He has seen that the number of people who want to become farmers is decreasing every year because the government is not introducing policies on farmers’ safety.

Akshay says, “It is not possible to develop the agricultural sector unless there is an environment where a farmer’s son can say he will become a farmer.”

He opines that big businessmen should reach out to the farmers themselves and invest. Golyan Group has also been investing in commercial farming in different parts of the country. Akshay also wants to increase investment in agriculture.

“Farmer security is essential for food security. Farmers are not safe among us. Both the government and the private sector need to be aware of this,” he said.

Youth repatriation program
Akshay is urging the youth to return to the country through an awareness program called ‘Feri Bidesh’ (abroad again). He says that Nepali youths who have gone abroad are being urged to return to Nepal due to a lack of skilled workers.

“There is a lack of skilled manpower in the market, if millions of young people who have gone abroad live in Nepal, the business environment here would be different,” he says.

He says that Golyan Group is preparing to provide employment to even the young and inexperienced.

He says, “We are not afraid of new employees. Instead, we work to direct their energy correctly.”

Akshay says they train inexperienced youth for three to four months and provide them with jobs.

This is how the Golyan Group of Companies was born
The Golyan Group was not founded by Pawan and his brother Basu Dev Golyan. Father Sohan Lal Golyan started the textile industry in the 1970s.

This group succeeded in establishing nine hydropower companies by establishing Reliance Spinning Mills in 1994, Shivam Plastic Industry in 2000, and Westar Properties in 2008.

Golyan Group has been doing commercial farming in Jhapa in an area of 200 bighas and has also become the first company to export water to Nepal.

This group has been exporting mineral water called Mato abroad.