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By:

Quaid Najmi

4 January 2025 at 3:26:24 pm

Modi’s ‘Melody’ diplomacy stuns the world

Overjoyed investors buy shares of a wrong company after the PM’s gift Mumbai: Prime Minister Narendra Modi on Wednesday gifting his Italian counterpart Giorgia Meloni 'Melody' toffees, reviving the light-hearted "Melodi" wordplay associated with the two leaders on social media. Meloni thanked Modi and shared a video on the social media in which she could be heard saying, “Prime Minister Modi brought as a gift, a very, very good toffee - Melody.” Modi, who was also seen in the video, burst...

Modi’s ‘Melody’ diplomacy stuns the world

Overjoyed investors buy shares of a wrong company after the PM’s gift Mumbai: Prime Minister Narendra Modi on Wednesday gifting his Italian counterpart Giorgia Meloni 'Melody' toffees, reviving the light-hearted "Melodi" wordplay associated with the two leaders on social media. Meloni thanked Modi and shared a video on the social media in which she could be heard saying, “Prime Minister Modi brought as a gift, a very, very good toffee - Melody.” Modi, who was also seen in the video, burst into laughter as Meloni jokingly referred to the "Melody" toffee while showcasing the gift. The hashtag "Melodi", a blend of Modi and Meloni's names, was coined by the Italian prime minister during the COP28 in Dubai in 2023 and later went viral on social media following the warm interactions between the two leaders at global events. Modi, who arrived in Rome on Tuesday, is on the final leg of his five-nation tour to the UAE, the Netherlands, Sweden, Norway and Italy from May 15-20. Modi’s gift not only floored the social media, but also earned gushing gratitude from the manufacturer of the sweet candy, Parle Products, in Vile Parle, Mumbai. “Thank You. Hon’ble Prime Minister Shri Narendra Modi for taking Parle Melody to the global stage. A proud moment for all of us at Parle Products to see an Indian favourite being shared across borders,” said a social media post from @ParleFamily, a 97-year-old company. Parle Products describes Melody: “Parle Melody brings to you an irresistible layer of caramel on the outside & a delightful chocolate filling inside. Open & pop it in your mouth & relish the unique experience. It won't be too long before you start asking yourself the age-old question "Melody Itni Chocolaty Kyun Hai?”.” Cong Attacks Modi Congress leader Rahul Gandhi and several other Congress leaders also attacked Modi saying he continues his PR even when the economy is suffering. However, Union Commerce Minister Piyush Goyal hit back at Gandhi, accusing him of "hating India" and refusing to tolerate the "global respect" the country has garnered under Modi's leadership. Gandhi, who is on a visit to his constituency Raebareli and Amethi, said on X, "This isn't leadership, it's a gimmick." At a time farmers, labourers, traders and others in the country are all in tears, the prime minister is laughing and making reels while BJP folks are clapping along, the former Congress president said in his post in Hindi. "An economic storm is raging over our heads, and our prime minister is busy handing out candies in Italy!" he said. Congress chief Mallikarjun Kharge attacked Modi over issues of "rising" prices, unemployment, paper leaks, "dampening" investment and "sinking" Rupee, saying the prime minister continues his PR even as the economy is suffering. Shares turn sweet but the company was mistaken Shares of Parle Industries Ltd saw frenzied buying on Wednesday, surging five per cent to hit the upper circuit limit after Meloni posted the video. Investors wasted no time and flocked to the counter to buy the stock. Shares of the firm jumped to Rs 5.25 - the highest trading permissible limit for the day - on the BSE. On volume terms, 8.57 lakh shares of the firm were traded on the BSE during the day. But, there is a catch! Investors mistook Parle Industries for the maker of Melody toffees. Parle Products, the FMCG major, is the manufacturer of Melody toffees and is not listed on the stock exchanges. Parle Industries Ltd is a diversified commercial services provider, engaged in the business of infrastructure & real estate, and paper, waste paper and allied products. The history of swadeshi toffee is entwined with the country’s Independence and the company, House of Parle was founded in 1928 by Mohanlal Dayal Chauhan, a tailor from Pardi near Valsad, then part of the Bombay Province. As the country was flooded with imported sweets and confectionery, he decided to give it a ‘desi’ touch and flavour, and with a band of 12 workers, he launched the Parle products from a musty old warehouse near Vile Parle east station, when large parts areas of Vile Parle west were still marshes dotted with a few old bungalows and chawls. Later, he visited Germany to master the art of confectionery and returned with machinery worth Rs 60,000 to churn out simple sweets, toffees and locally flavoured Indian confections at affordable prices – willy-nilly challenging the imported British offerings. It was in 1983 that the chocolate Melody toffee. -WITH PTI

Financial Planning For Your Child's Blockbuster Wedding

Updated: Dec 2, 2024

Blockbuster Wedding

As wedding season returns, you may have received numerous invitations, attended weddings and observed the significant costs involved in hosting such events. Weddings are not just emotional milestones but major financial ones as well, and if you have children or plan to have children, preparing for their future wedding expenses is a critical financial goal.


Among the key financial goals to plan for—buying a home, a car, vacations, children's higher education, and your retirement—saving for your child's wedding is also a significant one that requires long-term planning and investment. Weddings often come with substantial costs that cannot be covered from regular monthly income. Hence, you need to start saving and investing specifically for this goal to ensure you are financially prepared.


Setting the financial goal

A financial goal is any large expenditure that cannot be managed from your current monthly income. Given the large sums typically required for weddings, it's essential to begin planning early—starting today.


Let's take a hypothetical example: You have a child who will likely get married in 15 years. If you estimate that the cost of the wedding in today's terms is 30 lakh, you must account for inflation when planning. Assuming an inflation rate of 7% annually, the cost of the wedding in 15 years could increase to around 83 lakh.


How much to save & invest?

To build a corpus of 83 lakh over the next 15 years, investing consistently and staying invested is essential. Assuming an annual return of 12% on a Systematic Investment Plan (SIP) in mutual funds, you would need to invest around 18,000 per month, to reach INR 83 lakhs in 15 years. This SIP should be exclusively for the wedding fund, while other financial goals—like retirement or your child’s education—will require separate SIP amounts earmarked. SIPs are best looked at as “Sapna in Progress”—a dream you're working towards with every monthly investment. By keeping your goals clear and your investments strategic, you can bring your aspirations, like your child's wedding, to life in a financially secure way.


It's important to remember that saving alone won't get you there. For long-term financial goals, only mutual funds, stocks, and gold should be considered. Other investment options may not beat inflation and grow your money optimally.


Planning Ahead

It's important to note that financial planning is not a one-size-fits-all process. Every family's goals, timeframes, and capacities differ. Consulting with a financial advisor is a must. Financial advisors come with necessary education, wisdom, experience and expertise to help you plan, invest and protect your wealth. They can help you calculate your specific needs, tailor your investment strategy, and adjust your plans as necessary to stay on track.

Start early, stay disciplined, and secure your financial future for all of life's major milestones—including your child's wedding.


(The author is a Chartered Accountant and CFA (USA). Financial Advisor.

Views personal. He could be reached on 9833133605. )

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