ENTREPRENEURSHIP DEVELOPMENT CONTINUOUS

INTERNAL ASSESSMENT - 1

A STUDY ON ENTREPRENEURIAL COMPETENCIES AND MOTIVES OF

BUSINESSMEN PRE AND POST GLOBAL REFORMS IN INDIA

Submitted to:
Dr Shilpa

Submitted by: 4 FIB A

Naman Agrawal 2123524
Harsh Bhagchandani 2123514
Rushil Khajanchi 2123534
 Table of Contents
SR Topics Page
NO Number

1. Introduction of Mr Dilip Shanghvi 1

2. Entrepreneurial Competencies 3

3. Brief on Sun Pharmaceuticals 5

4. Entrepreneurial motives behind starting the 6

company

5. Introduction of Mr Kunal Shah 8

6. Entrepreneurial Competencies 10

7. Brief on CRED 12

8. Entrepreneurial motives behind starting the 13

company

9. References 15
MR DILIP SHANGHVI, FOUNDER @ SUN PHARMACEUTICALS

Dilip Sanghvi, also known as Mukesh Ambani of the East, is an Indian billionaire
entrepreneur and founder of Sun Pharmaceuticals, one of the largest pharmaceutical
companies in India and the world. He was born in 1955 in Amreli, a small town in the state of
Gujarat, India. He completed his studies from Calcutta University where he received a degree
in commerce. Sanghvi started his career as a distributor for various multinational
pharmaceutical companies. In 1983, he started his own pharmaceutical company, Sun
Pharmaceuticals, which was initially a small operation with just five products. Despite facing
several challenges, he managed to grow the company over the years through continuous
innovation and expanding his product portfolio. Today, Sun Pharmaceuticals is a leading
pharmaceutical company in India and has a presence in over 40 countries around the world.
Sanghvi is known for his simplicity and down-to-earth nature. He is known to be a
workaholic and is often seen in his office early in the morning. Despite his success and
wealth, he still lives a simple life and is known to be a low-key person. He is a vegetarian and
is known to be a fitness enthusiast who likes to go for a walk every morning.

Apart from his work at Sun Pharmaceuticals, Sanghvi is also involved in several
philanthropic activities. He has donated to various charitable organizations and has been a
strong supporter of various causes, including education, health, and the environment. He has
also been a mentor to several young entrepreneurs in India and has provided them with
guidance and support.

Sanghvi’s success is a testament to his hard work, determination, and innovative approach.
He has shown that with hard work and perseverance, anyone can achieve success, regardless
of their background or circumstances. He is an inspiration to entrepreneurs everywhere and
has been recognized as one of the most successful entrepreneurs in India.

One of the most inspiring incidents in Dilip Sanghvi's career was the acquisition of Caraco
Pharmaceutical Laboratories in 2011. This was a turning point in the history of Sun
Pharmaceuticals, as it helped the company to expand its presence in the US market, which is
the largest pharmaceutical market in the world. The acquisition was seen as a bold move by
Sanghvi, as it was made at a time when many other pharmaceutical companies were cutting
back on their operations due to the economic slowdown. Despite the challenges, Sanghvi was
determined to make the acquisition a success and was confident that it would help Sun
Pharma to grow its market share in the US. He invested significant resources into the
integration process and worked closely with the management team at Caraco to ensure that
the acquisition was a success. The acquisition was a major milestone for Sun Pharma, and it
helped the company to establish a strong presence in the US market, which has since become
a key contributor to the company's revenue and profitability.

This incident is an example of Sanghvi's determination and risk-taking ability. Despite the
challenges, he was confident that the acquisition would be a success and was willing to invest
significant resources to make it happen. This shows his unwavering commitment to his vision
and his willingness to take risks to achieve his goals. This incident is a source of inspiration
for entrepreneurs and business leaders, as it demonstrates the power of determination, hard
work, and risk-taking in achieving success.

Entrepreneurial Competencies of Mr Dilip Shanghvi

1. Quality as Top Priority: It is widely known that sales numbers play a crucial role in the
success of most leading brands and businesses, but Dilip Shanghavi had a unique
perspective. He encouraged those around him to place greater importance on quality
rather than quantity. He initially started with only five products that targeted psychiatric
conditions and gradually expanded into areas like cardiology and digestive health. As a
result, Sun Pharma has now become the largest chronic prescription company in India and
a market leader in fields such as psychiatry, neurology, cardiology, gastrointestinal
medicine, and nephrology.
2. Appetite to take Risk and Calibre to manage it: Taking a "leap of faith" is often
considered a risky or irrational move, but Dilip Shanghvi is not one to make impulsive
decisions. Despite his father's scepticism, he was determined to pursue a career in
manufacturing instead of following in the footsteps of previous generations and joining
the family business. He went against tradition and followed his own instincts. Shanghvi
believed that by increasing supply, demand would follow. This required a substantial
financial investment, but he trusted his years of market research and his gut instincts to
make the right decision.
His risk-taking abilities eventually led him to the success that every entrepreneur aspires
to achieve. Sun Pharma's acquisition of Caraco Pharmaceutical Laboratories and Taro
Pharma, as well as its successful purchase of Ranbaxy, demonstrate Shanghvi's
unwavering determination to expand the company's presence in the US market. These
moves were made with the intention of increasing supply and ultimately boosting
demand, a testament to Shanghvi's business acumen and risk-taking abilities.
3. Persistent: Dilip Shanghvi believed that just because a company was not performing well
did not mean it was inherently bad, and he proved this to be true through his exceptional
leadership skills. Despite the numerous obstacles he encountered, including issues with
FDA drug approvals in the US, Shanghvi remained focused and determined to turn a
struggling company into a profitable one. He never lost sight of his ultimate goal. For
example, when he started Sun Pharmaceuticals, he faced several challenges such as lack
of resources, competition, and limited product portfolio. However, he did not give up and
 continued to work hard to overcome these challenges. Over the years, he has grown the
company into one of the largest pharmaceutical companies in India and the world, which
is a testament to his determination and persistence.
4. Employee-Centric: Dilip Shanghavi had complete trust in his team and the people with
whom he worked. He encouraged them to speak up and freely express themselves. Every
successful entrepreneur must first assemble a team of people whose abilities can be
implicitly trusted, which can only be accomplished if you fully trust them. He was always
respected for being aware of his team's difficulties and, as a result, being one of them. He
strongly believes in the statement "Earn Trust, Build Bonds." He believes that in today's
ever-changing and challenging business environment, a devoted and loyal team is the
backbone of a successful firm. This is one of the most important management principles
he learned at a young age. He believes that it is critical to find and retain employees who,
in addition to having the necessary skills, have the desire (motivation, morale, and
enthusiasm) to help a company survive and thrive.
5. Hard-working and Passionate: Sanghvi is known to be a workaholic and is often seen in
his office early in the morning. He is a true believer in hard work and has shown that
success comes to those who are willing to put in the effort. For example, he is known to
work long hours and is dedicated to his work. He is also a mentor to several young
entrepreneurs and has provided them with guidance and support, encouraging them to
work hard and achieve their goals.
He is passionate about his work and has a deep love for the pharmaceutical industry. He
has dedicated his life to building Sun Pharmaceuticals and has made it his mission to
provide affordable and quality healthcare to people around the world. For example, he has
been involved in several philanthropic activities and has donated to various charitable
organizations, including those focused on healthcare and education.
6. Dynamic: Sanghvi is known for his innovative approach to business. He has been
instrumental in developing new products and expanding the product portfolio of Sun
Pharmaceuticals, making it one of the largest pharmaceutical companies in the world. For
example, he has introduced several new products that have changed the pharmaceutical
industry in India and has also expanded the company’s product portfolio into new areas,
such as oncology and cardiology. He also believes that people should learn to accept
constructive criticism without becoming enraged, as well as send the message that they
are open to what their co-workers/customers have to say and value their effort and
 feedback. "Clearly, I have two distinct positions in my mind - owner and manager," he
once stated. So, like any other Sun Pharma employee, I am willing to assess my
performance as a manager." This statement demonstrates Dilip Shanghavi's flexibility.

Sun Pharmaceuticals

Sun
Pharmaceuticals is a multinational pharmaceutical company headquartered in India. It is the
largest pharmaceutical company in India and the fifth largest specialty generic pharma
company in the world. The company was founded in 1983 by Dilip Shanghvi as a small
pharmaceutical business. Today, Sun Pharma has operations in more than 30 countries across
the globe including the United States, Europe, Canada, Israel, Latin America, Africa, China,
and Japan. Sun Pharma manufactures a wide range of medicines, including generic drugs,
patented formulations, biologics, and over-the-counter products. The company's product
portfolio ranges from basic molecules to branded products, and it covers multiple therapeutic
areas such as oncology, cardiology, neurology, respiratory and pulmonary, gastroenterology,
and dermatology. Sun Pharma also has a presence in the active pharmaceutical ingredients
(APIs) and animal healthcare segments. Sun Pharma’s vision is to provide affordable and
accessible medicine to people around the world.

Sun Pharma's product range covers a wide spectrum of therapeutic areas, including oncology,
cardiology, neurology, respiratory and pulmonary, gastroenterology, and dermatology. The
company has established itself as one of the leading Indian pharmaceutical companies with
an impressive track record in market share and product diversification. Sun Pharma has also
developed an extensive research and development network to stay ahead of industry trends.
In addition, the company focuses on expanding its presence in emerging markets. Sun
Pharma also has cutting-edge manufacturing facilities equipped with the latest technologies
and international quality standards. The company’s commitment to quality and affordability
has made it one of the most trusted pharmaceutical companies in India.

Entrepreneurial Motivations to Start Sun Pharmaceuticals

1. Opportunity identification: Dilip Shanghvi saw a gap in the Indian pharmaceutical

industry and identified an opportunity to provide affordable, quality medicines to the
masses. At the time, the industry was largely unorganized and lacked players who could
meet the growing demand for medicines in India. This led Shanghvi to start Sun
Pharmaceuticals, which went on to become one of the largest pharmaceutical companies
in India and the world.
Example: Shanghvi saw an opportunity to provide generic versions of expensive drugs,
which were beyond the reach of the average Indian consumer. He started by producing
and selling generic drugs, which were sold at a much lower price than the brand-name
drugs, making them more accessible to a larger section of the population. This move not
only helped Shanghvi tap into a vast market but also provided a solution to the healthcare
needs of millions of people.
2. Passion for the industry: Dilip Shanghvi had a deep interest and understanding of the
pharmaceutical industry, having worked in a drug distribution business prior to starting
Sun Pharma. He was driven by his passion for the industry and had a clear vision for what
he wanted to achieve through his company. This passion was also partly driven by the
noble motive of bringing a change in the under-developed and help-seeking medical
industry of the country
Example: Shanghvi’s passion for the industry was evident in his relentless pursuit of
excellence. He made sure that Sun Pharma adhered to the highest standards of quality and
was committed to providing the best possible medicines to its customers. This drive to
deliver quality products was a key factor in Sun Pharma’s rapid growth and success.
3. Financial stability: Starting a pharmaceutical company offered Shanghvi the potential to
achieve financial stability and success. He saw the opportunity to build a successful
business that would not only provide him with financial security but also allow him to
give back to society. While entrepreneurship offers a bundle of opportunities and
challenges of its own one of the biggest perks of pursuing it is the fact that it opens the
door to the chance of making immense amount of wealth which is directly proportionate
to the excellence of one’s business acumen.
 Example: Sun Pharma’s success has made Shanghvi one of the richest people in India,
but he has always been mindful of the impact his company has on society. He has been a
strong advocate for affordable healthcare and has invested in research and development to
bring innovative medicines to the market.
4. Independence: Being an entrepreneur allowed Shanghvi to have control over his own
career and make decisions without relying on others. He was able to chart his own path
and pursue his own vision for his company. This motives have driven Shanghvi to
continuously innovate, grow, and make a lasting impact in the pharmaceutical industry.
His strive for making the decisions of the business on his own gave him the absolute
autonomy to take risks, evaluate situations and carry out actions as he deemed fit which
contributed to the huge success tale.
Example: Shanghvi’s independence and entrepreneurial spirit were evident in his
willingness to take risks and make bold decisions. He was not afraid to make investments
in new technologies or enter new markets, even if they were untested. This
entrepreneurial mindset has helped Shanghvi and Sun Pharma to continuously grow and
innovate.
5. Social impact: Dilip Shanghvi wanted to make a positive impact in society by providing
affordable and quality medicines to people in need. He saw his company as a way to
address some of the biggest challenges in healthcare, such as access to medicines and the
high cost of treatment. The nobility as a motive pushed him to take steps which scaled
the rate of operations and consumer reach immensely.
Example: Sun Pharma has been at the forefront of providing affordable medicines to
people in need. The company has been instrumental in making important drugs accessible
to the masses, helping to improve the health and well-being of millions of people.
Shanghvi’s commitment to making a positive impact in society has made him a true
leader in the healthcare industry.
 MR KUNAL SHAH, FOUNDER @ CRED PRIVATE LIMITED

Kunal Shah is an Indian entrepreneur and investor. He is the co-founder and CEO of CRED,
an Indian fintech start-up that rewards users for paying credit card bills on time. Shah is a
serial entrepreneur and has previously founded companies such as FreeCharge and Cred. He
is also a well-known angel investor and has invested in several start-ups in India, including
Flipkart, Milaap, and Razorpay. Shah began his career in the technology industry and worked
as a software engineer for several years. He then co-founded FreeCharge, one of India's first
online recharge platforms, in 2010. The company quickly gained traction and was acquired
by Snapdeal in 2015 for a reported $450 million. After the acquisition, Shah took a break
from the industry and travelled the world, exploring different cultures and experiences. He
then returned to the Indian start-up ecosystem in 2018 and founded CRED, a fintech platform
that rewards users for paying their credit card bills on time. The platform has since become
one of India's fastest-growing start-ups and has attracted investment from some of the world's
leading venture capital firms, including Sequoia Capital, Ribbit Capital, and Coatue
Management.

Aside from his entrepreneurial ventures, Shah is also known for his thoughts and insights on
the Indian start-up ecosystem. He is a frequent speaker at industry events and is often sought
after for his opinion on the latest trends and developments in the industry. He is widely
regarded as one of India's leading entrepreneurs and is widely followed on social media for
his insights and observations. Shah's success as an entrepreneur and investor has earned him
several awards and recognition. In 2019, he was named one of the "40 Under 40" most
influential young people in business by Fortune India. He comes from a low-income family
and began working as a youngster due to his parents' financial issues. Kunal loathed studying
for an MBA since it focused on memorizing and writing rather than providing practical
information. As a result, he chose to read up on MBA theory online rather than attend classes.
The MBA, on the other hand, introduced Kunal to the ideas of marketing and consumer
behaviour. He began his first job as a junior programmer in a business process outsourcing
firm after leaving his MBA degree. He was the CEO of many companies from August 2000
until August 2010

One lesser-known funding story of Kunal Shah's was when he raised seed funding for
FreeCharge. He co-founded the company in 2010 with Sandeep Tandon, and the two
struggled to raise seed funding for the company initially. However, after several rejections,
they finally secured seed funding from a group of angel investors, including Mumbai Angels
and TYE (The Indus Entrepreneurs). This funding allowed them to launch the FreeCharge
platform and eventually grow the company into a major player in the Indian digital payments
space. One inspiring incident from Kunal Shah's life was when he turned FreeCharge into a
successful company.

He co-founded the company in 2010 and faced several challenges, including competition
from established players and difficulties in convincing merchants to adopt the platform.
However, he persevered and eventually grew FreeCharge into a major player in the Indian
digital payments space. In 2015, FreeCharge was acquired by Snapdeal for an undisclosed
amount, making it one of the largest acquisitions in the Indian start-up ecosystem at the time.
It is widely said that Kunal shah is an angel investor with the greatest number of fundings,
with incidents of start-ups raising money through WhatsApp chats in less than a span of 30
minutes for an amount of over 7.5 million rupees.

Entrepreneurial Competencies of Mr Kunal Shah

1. Visionary thinking: Kunal has the ability to see beyond the present and anticipate future
trends, which helped him identify the potential of the digital payments space in India. He
saw the opportunity to create a platform that would make it easier for people to pay their
bills online and that would offer a convenient and efficient way to manage their finances.
This visionary thinking led him to co-found FreeCharge in 2010, a time when digital
payments were still in their infancy in India. Economic reforms are the basic changes
implemented in 1991 with the purpose of liberalizing the economy and speeding up the
rate of economic development. The changes seek to boost private sector engagement in
the Indian economy's expansion plan. Policy reforms were suggested in the areas of
technological progress, industrial licensing, the lifting of restrictions on the private sector,
foreign investments, and international trade. To retain competitiveness in a small number
of selected areas and remove inefficiencies caused by over-diversification in the pre-
reform era, forceful restructuring has mostly concentrated on consolidation.
2. Risk-taking ability: Starting a new business involves taking risks and Kunal
demonstrated the ability to make bold decisions, such as starting FreeCharge in a market
dominated by established players. Despite the competition, he believed in the potential of
his idea and was willing to take the risk of starting a new company. This risk-taking
ability has been a key factor in his success, as it has allowed him to pursue his vision and
bring his ideas to life. Risk-taking and experimentation are essential components of the
entrepreneurial mindset. Be prepared to try new things and to witness their failure. Every
setback presents an opportunity to grow and refine your concepts. He does, however,
meticulously design his experiments such that you can quickly learn something helpful.
You can use these techniques to take calculated risks while you experiment
3. Persistence: Kunal faced several challenges in growing FreeCharge, including difficulty
in raising seed funding and convincing merchants to adopt the platform. However, he
persevered and eventually grew the company into a major player in the Indian digital
payments space. His persistence is a testament to his commitment to his vision and his
determination to succeed, even when faced with obstacles. This persistence has been a
key factor in his ability to overcome challenges and keep pushing forward. Kunal
determined at the age of 16 that if he worked hard enough, by the age of 35, he would be
 so wealthy that he would no longer need to work for a living. He became a successful
entrepreneur as a result of his determination.
4. Strategic thinking: Kunal has the ability to see the bigger picture and make strategic
decisions that have helped FreeCharge stay ahead of the competition. For example, he
was one of the first companies to introduce a mobile wallet in India, which helped him
stay ahead of the curve and position FreeCharge as a leading player in the digital
payments space. His strategic thinking has allowed him to make informed decisions and
ensure the long-term success of FreeCharge. The CRED inventor is altering the way
business owners divide the money. Money control's profile of the individual exposes
previously unreported details about his approach to investing. Shah wishes to alter how
individuals handle their finances and pay their credit card bills. He is also influencing
how entrepreneurs make angel investments.
5. Networking skills: Kunal has strong networking skills and has been able to build
relationships with key players in the Indian start-up ecosystem, which has helped him
grow FreeCharge and secure funding. For example, he was able to secure seed funding
from a group of angel investors, including Mumbai Angels and TYE (The Indus
Entrepreneurs), which provided the initial capital he needed to launch FreeCharge. His
networking skills have also helped him build relationships with key merchants and
partners, which has been critical to the growth and success of FreeCharge. Apart from
this, Shah is also known to have a close circle of venture capitalists and private equity
players which act as a network to spot the best available and budding business
opportunities to invest into in the early stages at extremely lucrative valuations.
6. Inquisitiveness and Balance: Kunal Shah is constantly looking for fresh knowledge. He
is inquisitive and explores ways to expand both his clients and his own businesses.
Entrepreneurs are not preoccupied with what they believe to be correct. Instead, they alter
in response to new information. One aspect of their worldview is their drive to learn. He
believes that work-life balance is ideal for any business. However, I am certain that any
big discovery or breakthrough necessitates a concentrated period of a few years during
which no such balance can be established.
This serves as a spark for many successful businesses. Artists are not the only ones who
may improve their inventiveness. Cred values its employees and has a strong culture of
teamwork and collaboration. The company promotes a supportive and inclusive work
environment and encourages employees to work together to achieve their goals. In terms
 of benefits, Cred offers its employees a competitive salary, generous stock options, and a
range of health and wellness benefits.

CRED

CRED is an Indian fintech firm situated in Bangalore. Kunal Shah founded it in 2018 as a
credit card payment software that employs incentives. Cred also provides short-term credit
lines and lets users to pay rent on their properties. CRED is a members-only club that rewards
consumers for paying their credit card bills on time by providing them with exceptional
bargains and premium experiences. Credit card users may manage several cards on this
service, which also offers a credit score analysis. Members with a high Experian or CRIF
score may use the app to pay their credit card bills and qualify for special incentives. CRED's
credit card spend tracking and management function, which provided the user with analysis
of spend tracking and card efficiency, is one of the app's many functions. Kunal Shah began
cred in 2018. By 2021, the company had gained over 5.9 million customers and processed
20% of all credit card bill payments in India. As of April 2021, Cred offers six unique
products: Cred RentPay, Cred Cash, Cred Pay, Cred Store, and Cred Travel Store.

Cred Mint, a peer-to-peer (P2P) lending function aimed to generate money from its 7.5
million clients, began on August 20, 2021. Cred was the official sponsor of the Indian
Premier League from 2020 to 2022. Cred's advertising content and videos starring Indian
celebrities sparked significant debate in news and social media in 2021 due to its uniqueness,
which drew both criticism and appreciation. CRED is a mobile platform designed to reward
users for making their payments on time. It combines features like financial literacy,
gamification and rewards to help users build a credit score and manage their finances better.
The main use of CRED is to help users establish creditworthiness and improve their financial
health.
Entrepreneurial Motivations to Start CRED

1. Problem Solving: Kunal Shah identified a problem in the financial sector where credit
card users were not being rewarded for their timely bill payments. Credit card bills are an
essential aspect of personal finance, and most people do not receive any incentives for
paying their bills on time. This inspired Kunal Shah to create a platform that would
incentivize people to pay their bills on time and reward them for doing so. This would not
only encourage responsible spending but also create a positive customer experience.
Kunal's enterprises are motivated by a desire to tackle real-world challenges. He has an
eagle eye for seeing issues and a knack for coming up with creative solutions. This has
led him to establish businesses that handle a wide variety of issues, from assisting
individuals in saving money on daily costs to making it easier for consumers to manage
credit card rewards.
For example, CRED offers its members rewards such as exclusive access to premium
events, discounts on products and services, and reward points that can be redeemed for
exciting prizes. By incentivizing timely bill payments, CRED solves a problem in the
financial sector and provides a unique customer experience.
2. Innovation: Kunal Shah wanted to bring innovation to the financial sector by creating a
unique platform that would provide value to the customers and create a loyal customer
base. He wanted to create a platform that would not only provide rewards for timely bill
payments but also educate customers on financial literacy and responsible spending.
For example, CRED offers a variety of financial tools such as credit score tracking, bill
reminders, and spending insights to its members. These tools help customers better
manage their finances and make informed financial decisions. Additionally, CRED also
offers educational content on personal finance, which helps customers improve their
financial literacy. By providing a unique combination of rewards and financial education,
CRED brings innovation to the financial sector.
3. Passion: Kunal Shah has a passion for finance and technology, and he wanted to create a
platform that would bring together his expertise in these fields. He wanted to create a
business that would leverage his knowledge and experience to create value for customers.
 Kunal has always had a great ambition to start and build successful businesses and has a
strong enthusiasm for entrepreneurship. He has always been fascinated by the process of
producing something from nothing and has been interested in start-ups since an early age.
For example, Kunal Shah has a deep understanding of financial technology and the
payments ecosystem, which he leveraged to create a platform that would meet the needs
of credit card users. By combining his passion for finance and technology, Kunal Shah
created a platform that provides a unique customer experience and is changing the
financial landscape in India.
4. Opportunity: Kunal Shah saw a huge opportunity in the Indian market to create a
platform that would cater to the needs of the credit card users in the country. He believed
that there was a huge market for such a platform and that he could create a successful
business out of it. He is constantly looking for new possibilities and is fast to see
emerging trends and technology that may be used to establish profitable enterprises. He
has a talent for discovering places where the technology may be used to solve issues and
provide value to the lives of consumers.
For example, India is the second-largest market for credit cards in the world, with over 90
million credit card users. By creating a platform that would incentivize timely bill
payments, Kunal Shah identified a huge opportunity in the Indian market. He believed
that by providing a unique customer experience, he could create a successful business that
would cater to the needs of credit card users in the country.
5. Financial Rewards: Kunal Shah wanted to create a business that would provide financial
rewards to the customers and at the same time, generate profits for the business. He
believed that a win-win situation could be created for both the customers and the
business.
For example, CRED offers rewards such as exclusive access to premium events,
discounts on products and services, and reward points that can be redeemed for exciting
prizes to its members. By providing these rewards, CRED incentivizes timely bill
payments and creates a positive customer experience. At the same time, CRED generates
profits for the business by partnering with companies and providing them access to its
customer base. By creating a win-win situation, CRED provides financial rewards to both
the customers and the business.
6. Legacy and Financial Freedom: Kunal is motivated by a desire to leave a lasting legacy
through his businesses and to positively affect society. He aspires to develop businesses
that will last for many years and have a beneficial influence on people's lives. Kunal
 aspires to acquire financial freedom and fortune through his business enterprises. He
considers the business to be a method of achieving financial stability and living life on his
own terms.

References 
CRED - pay your credit card bills & earn rewards. (n.d.). CRED - Pay Your Credit Card
Bills & Earn Rewards. Retrieved January 31, 2023, from https://cred.club/

How exactly does CRED Work? CRED Business Model & Revenue Model. (2021, November
9). StartupTalky. Retrieved January 31, 2023, from https://startuptalky.com/cred-business-
model/

A. (2022, March 8). Kunal Shah | The success story of founder of CRED. Failure Before
Success. Retrieved January 31, 2023, from https://failurebeforesuccess.com/kunal-shah/

Kunal Shah - Indian Entrepreneur | Founder of CRED. (2023, January 31). The Global
Indian. Retrieved January 31, 2023, from
https://www.globalindian.com/story/entrepreneurship/kunal-shah-entrepreneur-who-went-
from-selling-henna-cones-to-running-billion-dollar-business/

Dilip Shanghvi. (2022, April 4). Forbes. Retrieved January 31, 2023, from
https://www.forbes.com/profile/dilip-shanghvi/ 

Sanghvi, M. (n.d.). Sun Pharma Q3 Results: Profit Rises In Line With Estimates. BQ Prime.
Retrieved January 31, 2023, from https://www.bqprime.com/quarterly-earnings/sun-pharma-
q3-results-profit-rises-in-line-with-estimates 

C. (n.d.). Dilip Shanghvi, Richest Person India, Sun Pharmaceuticals. My Site. Retrieved
January 31, 2023, from https://www.mbarendezvous.com/motivational-story/dilip-shanghvi 

C. (2019, May 15). Biography of ‘Medicine Mogul’ Dilip Shanghvi, the founder of Sun
Pharma, to hit stores soon. cnbctv18.com. Retrieved January 31, 2023, from
https://www.cnbctv18.com/buzz/biography-of-medicine-mogul-dilip-shanghvi-the-founder-
of-sun-pharma-to-hit-stores-soon-3337991.htm