AIRA: This business was started by your father. How did the idea of this business niche come about?

Jaydev Sanghvi: Our journey into technical manpower outsourcing began in 1997, when we were providing engineering consultancy services to companies such as Reliance, HPCL and other industrial organisations.

At that time, Reliance was developing its first refinery at Jamnagar. Since we were already associated with them, they approached us with an interesting proposition: could we deploy our engineers to work as the owner's representatives on the project?

It was a relatively new concept for us. While IT staffing and blue-collar manpower contracting were already established, deploying qualified engineers and technical professionals on a secondment basis for large oil and gas projects was not as widespread.

We initially deputed engineers from our own organisation and subsequently recruited additional professionals from the market. At one stage, we had nearly 300 engineers working on the Reliance refinery project across Mumbai, Jamnagar, Houston and London.

That experience helped us recognise a much larger business opportunity. We realised that this model could serve several industries and should not depend on a single client.

We subsequently approached other major engineering and industrial organisations, and the response was encouraging.

What started as a specific customer requirement gradually evolved into a specialised business model.

AIRA: You are the Second-generation entrepreneur. How has your journey been?

Jaydev Sanghvi: It has been an extremely satisfying and exciting journey. Even today, I genuinely enjoy coming to work and taking on new challenges.

We started with a relatively small operation and a major client relationship. From deploying approximately 300 engineers in our early years, Aarvi has grown into an organisation employing thousands of technical professionals and serving clients across multiple industries and geographies.

Today, we have a pan-India presence and operations in several international markets, particularly in the Middle East.

Being a second-generation entrepreneur gave me the advantage of an established foundation, customer relationships and goodwill created by the earlier generation. However, every generation has to build on that foundation by responding to changing markets, technology and customer expectations.

Over the years, we have expanded our industry coverage, developed professional management systems, strengthened compliance and governance, and taken the company to the stock exchanges.

For me, the greatest satisfaction comes from seeing Aarvi create employment opportunities for engineers while helping clients execute some of the country's most important industrial projects.

AIRA: There is a lot of talk on Indian talent is not employable. What is your take?

Jaydev Sanghvi: I strongly believe that Indian engineers are among the best technical professionals in the world.

If you look at major infrastructure, energy, refinery and industrial projects across the Middle East and other international markets, you will find Indian engineers playing important roles in engineering, project management, construction, commissioning and operations.

They are involved in executing complex, multibillion-dollar projects for Indian as well as international EPC companies.

However, we must distinguish between technical knowledge and industry readiness.

Our engineers generally have a strong technical foundation, but there is room for improvement in communication, interpersonal skills, practical exposure and the ability to work in multidisciplinary and multicultural environments.

Industry also has a responsibility to invest in training and developing young professionals rather than expecting every graduate to be productive from the first day.

AIRA: Every industry we talk to complain that they don't get good people. Yet businesses like yours, work on tight TAT (turnaround time) for fulfilment of manpower requirements. How do you do it?

Jaydev Sanghvi: Finding the right talent is certainly challenging, but I would not say that good talent is unavailable.

In many cases, the challenge begins with defining the requirement correctly. Sometimes organisations are not entirely clear about the experience, technical competencies or responsibilities they expect from a candidate.

Compensation is another important factor. Companies must recognise that skilled and experienced professionals command market-driven remuneration.

At Aarvi, we have built an extensive database of engineering and technical professionals over several decades. We are increasingly using AI-enabled tools to identify suitable candidates, improve matching and accelerate the recruitment process.

However, technology alone cannot solve the problem. Experienced recruiters are essential for understanding client requirements, assessing candidates, managing expectations and ensuring successful deployment.

Our approach combines a large talent database, sector-specific recruitment expertise, technology and close engagement with clients.

AIRA: AI is the elephant in the room. Many experts talk about its impact on employment. We are already seeing some effects with widespread layoffs in the IT sector. How is AI likely to affect manufacturing sector?

Jaydev Sanghvi: Every major technological transformation creates concerns about employment. We saw similar concerns when computers, automation and the internet became widespread.

While certain activities may become automated, technology also creates new opportunities, improves productivity and changes the nature of work.

I believe AI will have a significant positive impact on manufacturing through better quality control, predictive maintenance, production planning, process optimisation and operational efficiency.

At Aarvi, we are already using AI in several internal processes. It helps us improve productivity, accelerate recruitment activities and prepare better-quality documentation.

For example, AI can assist with candidate identification and preliminary screening, while experienced recruiters concentrate on evaluation, client interaction, negotiation and final selection.

Similarly, in manufacturing, repetitive and data-intensive tasks may increasingly be automated, while professionals will be required for more complex problem-solving, decision-making and technology management.

This transition will require continuous reskilling and upskilling.

AIRA: What can be done to bridge the gap between industry expectations and education to ensure talent is ready for the real world?

Jaydev Sanghvi: The collaboration between academia and industry has already begun, but there is considerable scope to strengthen it.

Engineering education provides a strong theoretical foundation. However, practical exposure is equally important.

Internships, industrial training and graduate engineer trainee programmes are valuable because they allow students to understand how engineering concepts are applied in actual projects and manufacturing environments.

Many engineering companies already recruit graduate engineer trainees and develop them through structured training and project assignments.

I believe we should further encourage industry participation in curriculum development, guest lectures, industrial visits and mentorship programmes.

Students should also receive greater exposure to emerging technologies, digital engineering, AI, project execution, safety practices and communication skills.

AIRA: You have a significant presence across many geographies. What are your plans for the future?

Jaydev Sanghvi: We see significant opportunities ahead for Aarvi, both in India and international markets.

India is witnessing substantial investment across energy, manufacturing, renewables and industrial development. These investments will continue to create demand for qualified engineering and technical professionals.

Our strategy is to strengthen our presence in our established sectors, particularly EPC, oil and gas, refineries and engineering services, while expanding our capabilities in emerging sectors such as renewable energy, data centres, manufacturing and engineering Global Capability Centres.

We also see opportunities to move further up the value chain by expanding our engineering services and operations and maintenance capabilities.

Internationally, the Middle East remains an important growth market for us. Large investments in energy, infrastructure and industrial diversification create opportunities for specialised technical manpower and engineering services.

AIRA: You chose to list your business on the stock exchanges. What was the rationale?

Jaydev Sanghvi: We listed Aarvi on the National Stock Exchange's SME platform in 2017 and subsequently migrated to the main board.

One of the important considerations was access to capital to support the growth of the organisation.

Every growing business requires financial resources, and there are practical limits to depending entirely on internal accruals and bank borrowings.

However, the benefits of listing extend beyond raising capital. Being a publicly listed company brings greater transparency, accountability, corporate governance and financial discipline.

For a business like ours, where customers depend on us to manage large numbers of employees, statutory compliance, timely salary payments and long-term service commitments, financial credibility is extremely important.

Listing has also helped strengthen confidence among customers and other stakeholders.

AIRA: Making the business attractive for the second generation is a challenge many SMEs grapple with. What’s your view?

Jaydev Sanghvi: I believe a family business offers a tremendous opportunity for the next generation.

The earlier generation has already invested years of effort in building customer relationships, credibility, business knowledge and goodwill. This provides a strong foundation on which the next generation can build.

However, the next generation must have the interest, capability and commitment to take the business forward.

It is also important that family businesses evolve with changing times. Professional management, delegation, technology adoption and good corporate governance become increasingly important as the organisation grows.

The next generation should be encouraged to bring new ideas, explore new markets and challenge traditional ways of working while respecting the values on which the business was built.

At the same time, joining the family business should be a matter of genuine interest rather than an obligation.

AIRA: What would be your advice to other SME owners that are looking to list their business?

Jaydev Sanghvi: My first advice would be that entrepreneurs should understand that raising money from the public comes with significant responsibilities.

Money does not come free. When you list your company, you are inviting public shareholders to become partners in your business.

They will expect transparency, good governance, consistent performance and a clear long-term growth strategy.

Entrepreneurs must also be prepared for greater regulatory compliance, reporting requirements and scrutiny of their business decisions.

Before considering a listing, I would encourage SME owners to assess whether their organisations have sufficiently strong financial systems, management processes and governance structures.

They should also be clear about why they want to raise capital and how it will contribute to sustainable business growth.

Listing can be an excellent opportunity for a growing company, but it should not be pursued merely for valuation or prestige.