A two-decade stint with a Calcutta-based automobile company since 1959 helped Iltaf Hussain Hazarika gain experience and extensive knowledge in the business of automobiles.

Born and bred in Jorhat, Hazarika joined Walford Transport Ltd as a manager in Dibrugarh. After a Guwahati posting as departmental head of the company in 1963, he was again transferred to Dibrugarh two years later. However, he left the job after serving as a manager in the Guwahati office in the late seventies. “I left the job in 1978 because of personal reasons. But my association with the automobile company helped me get a toehold in the automobile business. So much so that I did not think twice before venturing into a partnership business,” Hazarika, who is now the managing director of Pibco Enterprise Pvt Ltd, said.

Hazarika and his business partner were among the first Assamese entrepreneurs to venture into automobile business.

“However, to start with, I did not have the requisite capital to invest in a business. The worst part in those days (late seventies-early eighties) was that banks were reluctant to give loans to Assamese entrepreneurs. They were of the notion that we were not capable of returning the money. I faced a lot of difficulties in organising a decent amount of capital to start the business. The situation came to such a pass that I had to sell off some of my personal assets. Fortunately, a nationalised bank helped me get a loan,” Hazarika, a resident of Rukmininagar, said.

Standing tall amidst all odds, Hazarika and his partner set up a Mahindra showroom, Pibco, at Rukminigaon in 1978. After a year, the enterprise that dealt in jeeps and tractors became a private limited company. In 1997, Pibco India Pvt Ltd joined hands with Hero Honda and started a dealership in two-wheelers and four-wheelers. This was a major turning point in his business.

Circumstances, however, prompted Hazarika to go solo in the business. “I separated from my business partner because of personal reasons and set up Pibco Enterprise Pvt Ltd in 2001. But I decided to retain the dealership with Hero Honda (two-wheelers) while the Mahindra dealership went to my partner,” said Hazarika, a member of Guwahati Rotary Club for 38 years and the president of Rukmininagar Unnayan Samiti.

Asked about his entrepreneurial spirit, Hazarika said, “I believe the ability to take risks determines the quality of an entrepreneur. When we started our Hero Honda dealership, the business prospects were not that bright. We used to sell just 25 to 30 bikes a month. But this did not deter me. Rather, I took it as a challenge. Today, sales have soared and we sell around 11,000 to 12,000 bikes a month.”

In 2004, Hussain set up another unit, Pibco Force, a dealership with Force Motors. Pibco Force deals in buses, cruisers, ambulances and Cargo King, among others.

On the market scenario after the separation of Hero and Honda, he said, “Hero has kept its quality intact over the years and improved its supply. People have developed faith in the Indian company.”

Asked about the pre-requisites for a business, the entrepreneur said, “I feel a prior market survey, knowledge of the product and capital are pre-requisites for venturing into a business. The automobile business is improving and I believe its future is bright. About two years back, my daughter-in-law, Anjum H. Hazarika, joined the business in the capacity of a director, giving me immense support to carry forward the business.”

Hussain is open to diversification. 'Of late, we do not have any diversification plans. But we shall remain open to expansion in the years to come,” he added.