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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make...

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days. Review Your Asset Allocation Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred. Do Sufficient SIPs Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time. Make Lumpsum Investments Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus. Increase Your SIPs Annually As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income. Stay Invested Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely. Health Insurance Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential. Term Life Insurance Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution. Consult a Financial Advisor A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. May this festive season bring abundance and lasting financial peace. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

India’s Research Must Break Its Western Mold

Sep 3, 2025
4 min read

For India to thrive, innovation must spring from its own needs rather than borrowed priorities.

India, like much of the world, has been jostled by the whiplash of American trade policy. Sweeping tariffs under Donald Trump reminded New Delhi of the fragility of global supply chains. The Indian government responded with self-reliance. The mantra of ‘Atmanirbharta’ has been grafted onto everything from chip manufacturing and artificial intelligence to space exploration and weapons systems. While these efforts are laudable, they are also derivative. For all the fanfare about a sovereign research and innovation ecosystem, India is still chasing the trains long since boarded by the West.


Deeper questions

It has missed the bus before. The country was a bystander as the semiconductor revolution reshaped economies, and again when the world moved from 2G to 3G. Today’s push into electric vehicles and AI risks repeating the same error: pouring scarce resources into domains dictated by others, not necessarily aligned with India’s own imperatives. To chart a truly self-reliant course, India must ask a deeper question: what kind of research reflects its demographic, cultural and economic realities?


Western priorities are shaped by conditions alien to India. Rich countries with high per-capita incomes, ageing populations and shrinking workforces seek to automate relentlessly. Their research reflects their anxieties: labour shortages, geopolitical dominance, and the ability to fund projects with decades-long gestation periods. India, by contrast, is young, populous and resource-constrained. Its challenges are of another order.


Consider literacy. India remains far from universal literacy, yet boasts one of the highest mobile- and internet-penetration rates in the world. A semi-literate farmer in Bihar may navigate a smartphone more easily than a book. Add to this the bewildering linguistic diversity of the country, where hundreds of languages jostle for space, and the opportunities for India-centric research become apparent. Machine translation, if designed with cultural nuance, could bridge linguistic divides. A search for a uniquely Indian lingua franca might sound fanciful, but so once did Google Translate.


India’s population profile also demands a very different approach to technology. Whereas German or Japanese firms build robots to replace workers, India’s goal should be to design products and services that create work. A telling example lies in manufacturing. Cars can be assembled by machines with minimal human input. But their servicing remains labour-intensive. With imaginative design, firms could amplify such human involvement rather than eliminate it.


The “use and throw” ethos of the West has saddled the world with waste. In India, products could be reimagined to offer novelty through services by refurbishing, upgrading and customising rather than constant replacement. A car, a sofa or a smartphone could be made to feel new not by discarding the old but by tweaking its appearance or performance. This would create work for semi-skilled labour, reduce environmental footprints and curb the lure of mindless consumption. A genuinely Indian innovation agenda would take this seriously.


Battling Brain-Rot

Another looming challenge is subtler but no less urgent: the erosion of cognitive fitness. “Brain rot,” Oxford’s word of the year in 2024, captures the malaise of overstimulation—too much social media, too many screens, too little critical thinking. For a nation banking on its “demographic dividend,” the risk is stark. An intelligent but distracted youth cohort could prove a liability.


India must innovate not only in classrooms but beyond them. Just as gyms and yoga studios emerged to counter sedentary lifestyles, there is scope for “brain gyms”—platforms, both physical and digital, that exercise memory, logic, and creativity. What sounds gimmicky could become a business in its own right, especially in cities. The state, meanwhile, can nudge educational institutions to build curricula that combat cognitive decline. Such thinking is more relevant to India’s long-term prospects than yet another incremental advance in chip design.


If India’s youth are its future, its past is no less valuable. Traditional knowledge, often dismissed as superstition, deserves a harder look. China offers an instructive example. In 2015, Youyou Tu won the Nobel Prize in medicine for isolating artemisinin, a compound derived from a herb mentioned in ancient Chinese texts, which revolutionised malaria treatment. That breakthrough was not blind traditionalism; it was the rigorous scientific testing of traditional knowledge.


India’s own experience shows the risks of neglecting this trove. In 1995 American researchers sought to patent the medicinal properties of turmeric, a staple of Indian home remedies. India fought the claim by citing traditional use and won. But defensive victories are not enough. The country must test, validate and commercialise its own heritage. Whether in Ayurveda, yoga, or ancient mathematics, India has rich veins of knowledge awaiting rediscovery.


India’s innovation discourse is filled with exhortations not to “miss the bus.” But the more important question is whether the country is chasing the right bus in the first place. Replicating Western priorities risks draining limited resources into projects that do little to solve India’s most pressing problems: literacy, jobs, waste, health and cognitive resilience. A research agenda rooted in India’s own soil, by contrast, could deliver both economic and social dividends.


That requires courage from policymakers, imagination from scientists and support from investors. It also requires a shift in mindset. It is time to stop measuring success by how closely India mimics Silicon Valley or Shenzhen and start defining it by how well research improves the lives of its own citizens.


The West’s research agenda reflects its circumstances. India’s must do the same. Only then can the country stop playing catch-up and start leading in fields that matter to it most.

(Author works in the Information Technology sector. Views personal)

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