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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

Five Action Points for July

With the first half of 2025 now behind us, the time for reflection is here. July marks an important turning point in the calendar year. The past six months may have gone by quickly, but the remaining half of the year offers ample opportunity to make meaningful progress toward your financial goals. The beginning of July is an ideal time to move from self-assessment to action.


1. Ensure the Majority of Investments Are in Inflation-Beating Assets

One of the most important principles of long-term investing is ensuring that your portfolio is designed to beat inflation. Inflation, though often gradual and silent, is a constant force that reduces the real value of your money over time. This makes it critical to invest in asset classes that offer the potential for higher, inflation-adjusted returns.


Historically, equity mutual funds, direct stocks, and gold have consistently outperformed inflation over long periods. Invest primarily in these assets for your long-term financial goals. For your short-term goals, you can stick to bank fixed deposits, bank recurring deposits, or debt mutual funds. If a significant portion of your money remains tied up in low-return instruments, consider reshuffling your portfolio.


2. Review SIP Contributions and Increase Them if Income Has Grown

Systematic Investment Plans (SIPs) remain one of the most disciplined ways to build wealth. They encourage consistent investing, regardless of market conditions, and benefit from rupee-cost averaging and the power of compounding. Ensure your SIPs are sufficient - at least 30 percent of your in-hand monthly income.


A common mistake many investors make is failing to increase their SIP amounts in line with their income growth. If you have received a salary increment or changed jobs in the last 12 months, and your SIP contributions remain the same as last year, this is the time to act. Increasing your SIP every year can make a significant difference to your wealth over the next decade. It ensures that your investments match your rising standard of living.


3. Make Lumpsum Investments Alongside SIPs

While SIPs provide investment discipline, they should not be your only investment strategy. Many individuals accumulate idle funds in their savings or current accounts, waiting for the "right time" to invest. Unfortunately, this often results in missed opportunities. Besides SIPs, make it a habit to do additional lumpsum investments frequently.


If you have received a bonus, incentive payout, or any unexpected windfall, consider deploying it as a lumpsum investment. The key is to avoid letting surplus funds remain uninvested for long periods. Staying invested allows your money to benefit from compounding and market growth.


4. Secure Adequate Health and Term Life Insurance Cover

Health insurance and term life insurance are two pillars of your financial planning. Even a single hospitalization can result in substantial expenses if not adequately covered.


Do not rely solely on your employer’s health insurance cover. Buy a sufficient, comprehensive personal health insurance policy with the necessary product features to protect your savings and financial goals.


Similarly, term life insurance ensures that your family’s financial security is protected in case of any unforeseen event. Calculate and invest in a term life insurance plan, taking into account your current income, outstanding loans, and future responsibilities such as your children’s education or other long-term goals.


5. Consult a Qualified Financial Advisor

If you have not yet made a proper financial plan with the help of a financial advisor, this is the right time to do so. Even if you already have a plan in place, it is important to review it with a financial advisor, as financial plans must be reviewed every 6 to 12 months. Consult a well-educated, full-time financial advisor who is an entrepreneur in the field. It takes years of education, wisdom, experience and expertise to write a prescription, don’t self-medicate.


Conclusion

The first half of the year may have passed, but the remaining months offer you the opportunity to realign your financial strategy and make meaningful progress toward your goals. Consistency, timely action, and professional guidance remain the key drivers of financial success.


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

Views personal. He could be reached on 9833133605.)

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