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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

The Difference Between Being Rich and Looking Rich

The real question is whether income builds assets or merely funds appearances.

Bharath was 29 years old, working at a reputed multinational company in Pune with an annual package of Rs 24 lakh. Among friends and relatives, he was considered highly successful. He drove a luxury car purchased on EMI, upgraded his phone every year, travelled frequently, and regularly posted pictures of expensive cafés and vacations on social media.


From the outside, Bharath looked rich. During a financial consultation, however, a different picture emerged. A substantial portion of his monthly income went toward car EMIs, personal loans, credit card bills, rent, dining, and lifestyle spending. Despite earning well for several years, his investments were minimal. He had no emergency fund, inadequate insurance coverage, and almost no retirement planning.


In accounting terms, Bharath’s income statement looked impressive, but his balance sheet was weak.


Illusion of Wealth

Around the same time, another client, Sameer, visited for tax planning. Sameer earned significantly less than Bharath — around Rs 11 lakh annually. He did not own a luxury car and avoided unnecessary debt. Instead, he consistently invested part of his income into mutual funds, maintained emergency reserves, and purchased adequate health and term insurance early.


Five years later, the financial gap between the two had grown wider than their income gap. Bharath continued earning more, but much of his income went toward maintaining a lifestyle. Sameer, despite a modest salary, had built financial security, a stable investment portfolio, and a growing net worth.


This difference reflects an important reality that Chartered Accountants frequently observe — income creates lifestyle, but assets create wealth.


Many individuals today mistake spending capacity for financial strength. In reality, wealth is not determined by what a person displays publicly but by what they own after liabilities are deducted. A luxury vehicle financed through long-term debt may improve social perception, but financially it remains a depreciating asset with recurring obligations.


The rise of instant credit and EMI-based consumption has further blurred the distinction between affordability and accessibility. Just because a person qualifies for a loan does not mean the purchase strengthens their financial position.


True Financial Health

From a Chartered Accountant’s perspective, true financial health is measured not by outward displays of wealth but by fundamentals such as a steadily growing net worth, disciplined investing, controlled liabilities, adequate liquidity and insurance coverage, and long-term capital creation. These indicators may not always be socially visible, but they determine long-term financial stability.


Bharath’s story is no longer unusual. Across urban India, many young professionals are earning more than previous generations, yet carrying greater financial pressure because lifestyle expansion has overtaken asset creation.


Cost of Appearances

The real difference between being rich and looking rich ultimately comes down to one question: Is income being used to build assets or merely to fund appearances?


(The writer is a Chartered Accountant based in Thane. Views personal.)

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