Vicram Sharma is the director and third-generation stakeholder at Baidyanath, India's iconic family-owned legacy brand of Ayurvedic products. Baidyanath was founded by his grandfather Pandit Ram Dayal Joshi and grand-uncle Pandit Ram Naryan Sharma, in the year 1917 and has, for more than 100 years, been synonymous with authentic, high-quality Ayurveda products. Vicram has spearheaded the transformation of Baidyanath from a home-grown enterprise into a modern business, seamlessly integrating ancient Ayurvedic wisdom with cutting-edge technology to expand its reach and impact.
A Global Education to Drive Indian Traditions
After finishing his schooling at The Doon School, Vicram went on to graduate from the prestigious Sydenham College of Commerce and Economics in Mumbai. This was followed up by a Master's degree in Marketing and Management from the University of Leeds, UK. After completing his Master's, Vicram worked for several years at a Sheffield-based company dealing in medical equipment.
Feeling the need to expand his understanding of the corporate world, he enrolled for a double Master's degree in Industrial Relations and Human Resource Management at the prestigious London School of Economics. He graduated as one of the top performers in his class, in a program known for its high dropout rates, due to its intensity and rigor. "Doing a double Master's from LSE was a tough job," notes Vicram "but it prepared me well for the task ahead."
After completing his studies, Vicram went to work for several years at a prestigious head-hunting recruitment agency in London. This valuable work experience, global exposure, and academic grounding at LSE provided him with the tools and the drive to give shape to his vision for modernizing Baidyanath. After gaining 6 years of work experience in England, Vicram returned to India to assume his responsibilities in the family business.
Modernizing a Traditional Powerhouse
Upon his return, Vicram set about identifying areas of priority that needed revamping. He realized that modernizing a company that represented an ancient science was a delicate and sensitive undertaking and that it was important that innovations did not dilute Baidyanath's core values. He says, "After engaging deeply with the day-to-day running, I realized that the key area where modernization was needed was in HR management. We needed greater decentralization of power, we needed HR best practices to help identify talent, create proper incentive structures, and establish systems for accountability and performance management."
Vicram emphasizes that modernization is an ongoing process: "It's a constantly evolving thing. It takes time to convince the Board, find the right people, and put checks and balances in place."
Quality: The Bedrock of Baidyanath's Success
While instituting modern management systems, Vicram has been supremely vigilant that there be no dilution in Baidyanath's foundational principle - uncompromising quality. "Baidyanath is known for its quality," Vicram states proudly. "That is one of the reasons why we are still very much on top of the game. People demand our products on a remarkably large scale because our quality is amongst the best."
This focus on quality extends to every aspect of production, from sourcing the finest ingredients to the integration of the full supply chain, modernization of the technical aspects of production, and quality checks at every stage of production. Vicram advises aspiring entrepreneurs: "If your quality speaks for itself, you don't have to go crazy with marketing. Of course, you need marketing and promotional activities, but at the end of the day, it is the quality that speaks for itself."
Balancing Tradition and Innovation
Under Vicram's leadership, while Baidyanath has expanded its reach, yet in its production values it remains true to Ayurveda's ancient formulae and methodologies. Vicram sees immense potential in the growing global interest in Ayurveda, especially post-pandemic: "Covid made people realize that it's better to have your immunity so strong that you don't fall sick easily. And if you do fall sick, you recover quickly. The way to do this is through Ayurveda."
Beyond his role as a business leader, Vicram is a man of diverse interests - he is an art collector, an avid traveller, a yoga enthusiast, a hands-on single parent, and the author of a bestselling book on Ayurveda.
His book, 'Ayurveda Advantage', conceived and drafted during the pandemic lockdown, aims to make an Ayurvedic lifestyle accessible to all. "It was the need of the hour to bring out a book that simplifies Ayurveda for everyone, no matter what age group or social segment," Vicram explains.
Looking Ahead
"I want Baidyanath to become a household name not just in India, but in the world," he declares. "We are studying the global markets to understand their specific needs, and to create customized, targeted product lines that are country-specific. I want the world to recognize that this is the Company with the best quality products. That was the vision of our founders.",
Vicram sees Ayurveda as India's unique gift to the world. "It is an inheritance that belongs to all of us, and it is Baidyanath's privilege that we are co-custodians of this priceless legacy. It is our duty and responsibility to preserve, protect, and transition this legacy into the future – intact and unchanged, for the benefit of generations to come."
