ITV

Tag: Moneycontrol

  • Moneycontrol and hBits set to make commercial real estate accessible to all investors

    Moneycontrol and hBits set to make commercial real estate accessible to all investors

    Mumbai:  Moneycontrol, India’s leading financial news and investment platform, has partnered with hBits to transform the landscape of commercial real estate investment through fractional ownership and make it more accessible to a wider audience. This collaboration seeks to democratize access to Grade A commercial real estate properties, enabling potential investors to participate in fractional ownership through Moneycontrol’s platform.

    Moneycontrol, a trusted name in the financial sector boasting 75 million investors, offers an innovative investment service. The partnership introduces a dedicated ‘Invest Now’ tab on the Moneycontrol platform, providing a convenient gateway for potential investors to explore and engage in fractional ownership of commercial real estate. This feature will provide Moneycontrol users with an intuitive and easy-to-use interface to browse and invest in Grade A commercial properties curated by hBits, further enhancing the platform’s utility as a comprehensive financial resource.

    hBits, founded in 2018, has established itself as a pioneer in fractional ownership, offering fractional ownership in Grade A commercial properties. A concept providing lucrative investment opportunities that were previously inaccessible to the everyday investors. Their approach combines trust, transparency, and accessibility, ensuring that real estate investment is no longer the preserve of ultra-high-net-worth individuals and institutions.

    hBits has assets under management worth ~ Rs. 260 Crore and has amassed a significant user base of over 60,000 registered users. Its leadership team, with over 100 years of cumulative experience in real estate and finance, includes notable figures such as Shiv Parekh, the founder and CEO, and Samir Bhandari, the co-founder and CFO, both of whom have impressive backgrounds in global finance and real estate sectors.

    This integration aligns with recent regulatory changes by the Securities and Exchange Board of India (SEBI), supporting fractional and small-medium Real Estate Investment Trusts (REITs). These legal changes are likely to encourage investment and liquidity in the real estate sector, offering an ideal environment for such an innovative collaboration. This strategic alliance signifies a pivotal move for both organizations as hBits gains access to the extensive reach and user base of Moneycontrol, while Moneycontrol expands its offerings, giving users distinctive real estate investment alternatives. This collaboration is poised to open doors to more inclusive and diversified investment avenues for retail investors, marking a significant step towards democratizing access to high-value investment opportunities in commercial real estate market.

    Moneycontrol chief revenue officer Gaurang Shah said, “We are thrilled to announce our strategic partnership with hBits, marking a significant leap in the democratization of real estate investments. The joint platform is set to revolutionize the way people engage with commercial real estate, making fractional investments more accessible than ever before. At Moneycontrol, our commitment has always been to empower investors with innovative solutions, and this collaboration aligns perfectly with that vision. Through this platform, we aim to provide our users with a seamless and user-friendly experience, allowing them to participate in the lucrative commercial real estate sector with ease. Together with hBits, we look forward to opening new doors for investors, enabling them to diversify their portfolios and achieve their financial goals.”

    “We are thrilled to announce our partnership with Moneycontrol, marking a significant milestone in our quest to make commercial real estate investment more accessible to everyone. This collaboration is a game-changer, as it allows us to introduce the concept of fractional ownership of top-tier commercial properties to a broader audience. With Moneycontrol’s extensive network, we’re poised to revolutionize the way people invest in real estate. Our combined efforts will open the doors to premium real estate investments, making them not only accessible but also affordable for everyday investors,” expressed hBits CEO Shiv Parekh.

  • Moneycontrol collaborates with Gap Up by Rigi for expert insights

    Moneycontrol collaborates with Gap Up by Rigi for expert insights

    Mumbai: Moneycontrol, India’s financial news and investment platform has collaborated with Gap Up by Rigi, an innovative platform specialising in investor education and skill enhancement. This groundbreaking partnership introduces an offering to our audience, providing curated advisory from SEBI-registered experts on stock market intricacies and trading strategies.

    As the financial landscape becomes more intricate, this collaboration aims to bridge the knowledge gap for both new and seasoned investors and traders, establishing Gap Up by Rigi as a trusted market insight partner. This innovative platform is accessible through both the Moneycontrol website and app, providing a diverse range of topics, including options trading, intraday and positional trading, multi-bagger investing, and more.

    For individuals seeking trading advisory from SEBI-registered analysts, Gap Up by Rigi becomes a one-stop shop, offering expertise from renowned market veterans with a wealth of experience of three decades on Dalal Street. The platform includes daily equity futures and options calls and real-time updates on crucial events during market hours, encouraging traders to make informed decisions.

    Rigi co-founder Swapnil Saurav expresses his enthusiasm: “The establishment of Gap Up is driven by Rigi’s ongoing commitment to empower creators. Our partnership with Moneycontrol allows us to expand our outreach to a wider audience, assisting them in making informed decisions and formulating strong trading strategies.”

    Moneycontrol business head Manoj Nagpal said shared his thoughts on the collaboration, saying, “The collaboration between Moneycontrol and Gap Up by Rigi marks a significant milestone in the realm of financial education. It combines the expertise of both platforms to empower investors and traders with the knowledge needed to navigate the dynamic world of stock investing. Moneycontrol has always been committed to empowering its users with information and actionable knowledge. Partnering with Gap Up by Rigi aligns perfectly with its vision to provide a comprehensive suite of learning tools for its diverse user base.”

    With this collaboration, Moneycontrol and Gap Up by Rigi are setting new benchmarks in financial education and user empowerment, ensuring that investors and traders are well-equipped to navigate the dynamic and often challenging world of stock investing.

    To know more visit – https://www.moneycontrol.com/msite/gapup-club

  • TV18 & E18 to merge with Network 18

    TV18 & E18 to merge with Network 18

    Mumbai: Merger of TV18 and NW18 is a serious attempt made to target a larger share in the fragmented M&E market of India, specifically within digital media (search, display, social, e commerce, video, news , audio), which also has a larger set of advertisers spread across SME’s, apart from large verticals. India’s M&E market for TV, print and digital put together is quite large at Rs 1,530bn (CY22); having a bundled offering with a larger target audience/reach will help scalability on revenues and also help a better reach amongst varied set of advertisers. The merger could be a potential win-win for both entities as NW/TV18 have reported a tepid EBITDA margin of a mere 12.3 per cent/13.4 per cent (average of last four years); we believe 1) cost control measures, and 2) synergy benefits will drive efficiencies for the merged business. Further, a bundled offering under the NW18 umbrella, with a subscription plan at discounted price augurs well for a price sensitive market like India, coupled with a large reach of more than 450mn smartphone users by Jio (part of RIL, which is NW18 parent Co.).

    India market is all about aggregation of content across various mediums, which will offer better subscription revenue and visibility over content spends across mediums to create a strong pay/subscription-based model via bundling in a price sensitive market like India; higher subscription revenue can offer better visibility over content costs (across mediums). A superior user experience across all offerings coupled with differentiated and good quality content will be the only factor to drive a potential subscription revenue base. We don’t foresee any negative impact of above for listed peers like Z and SUNTV, as they don’t have presence in the news segment; however, in case of NW18 forming a media super app, providing all variety of content could pose a threat for the M&E ecosystem. Listed news players like TVT could see a negative impact of the above merger as they have digital news assets and TV channels.

    Implications of the event (Impact analysis):

    •  Large market opportunity (TAM)for the merged co., as India’s M&E market for print, TV and digital is at Rs 1,530 (CY22) , poised to grow at a CAGR of 8.2 per cent over CY22-25.

    •  This move will bring all mediums of media by NW18 under one umbrella; Print, TV and other mediums have seen a disruption over the last few years due to consumption moving to digital; this will provide respite to NW18 traditional media assets as it can be bundled with digital offerings

    •  NW18 will be able to cross sell strengths of all media assets and target better advertising revenue with scale over the medium to long term

    •  The merger will be an advantage for driving efficiencies with all operations, employee, and all other expenses (marketing, operations) under one umbrella to enhance portfolio strength and operating leverage

    •  NW18 may be able to offer all services and subscription on a bundled basis – subscription of the print magazines ,premium plan of Jio cinema and Moneycontrol pro

    •  The merged co. can target a larger variety of advertisers who can provide ad budgets to be split across various mediums

    •  A media based super app could also be formed offering all types of media content – 1) digital news 2) TV content 3) sports 4) web series/movies 5) ticket booking, which in turn can have a large customer base and can be used potentially for better ad revenue/monetisation of eyeballs. This kind of app with varied offerings could pose a serious threat to other video/broadcaster OTT apps.

    •  NW18 will also have a big advantage of last mile with Jio having a subs base of more than 450mn smartphone users

    Background of the event

    Network18 Media & Investments Ltd and TV18 Broadcast Ltd have announced a scheme of arrangement under which TV18 and E18, which owns and operates the Moneycontrol website and app, will merge with Network18. The proposed Scheme will consolidate TV and Digital news businesses of the Network18 group in one company and will help create India’s largest platform-agnostic news media powerhouse with the widest footprint across languages, straddling both TV and Digital. The merged entity will comprise the TV portfolio of TV18 (20 news channels in 16 languages and CNBCTV18.com), Digital assets of Network18 (News18.com platform across 13 languages and Firstpost) as also Moneycontrol website and app. Viacom18 with its portfolio of JioCinema and 40 TV channels will be a direct subsidiary of Network18. The appointed date for the merger is set as 1 April 2023 and the share exchange ratio stipulates that for every 172 shares of TV18, shareholders will receive 100 shares of Network18 and for every share of E18, shareholders will receive 19 shares of Network18. Post the merger, promoter shareholding in Network 18 will decrease to 56.9 per cent from 75 per cent while the public shareholding will move up to 43.1 per cent from 25 per cent.

    The credit of this article goes to Elara Capital SVP Karan Taurani.

  • Nalin Mehta has been appointed the managing editor of moneycontrol

    Nalin Mehta has been appointed the managing editor of moneycontrol

    Mumbai: Nalin Mehta has been appointed the managing editor of Moneycontrol. He has been Network 18’s group consulting editor for the past year.

    He has previously held leadership roles like executive editor at The Times of India-Online; managing editor, at India Today (an English TV channel); and consulting editor at The Times of India.

    Prior to Moneycontrol, Nalin was dean and professor at the School of Modern Media, UPES University, where he had conceptualised and conducted courses on digital journalism.

    He has also worked with the UN and international financing institutions like the Global Fund in Geneva, Switzerland; taught and held research positions at various universities and institutions in Australia, Singapore, Switzerland, and India.

    He continues to be a non-resident senior fellow at the Institute of South Asian Studies, National University of Singapore.

    A DFID-Commonwealth scholar, Nalin has done his PhD in Politics from La Trobe University, Melbourne; M.A. International Relations, University of East Anglia, UK, and B.A. Journalism (honours) from University of Delhi.

  • Moneycontrol’s Creator Economy Summit: Empowering Indian content creators for success

    Moneycontrol’s Creator Economy Summit: Empowering Indian content creators for success

    Mumbai: “Self-policing the finfluencer community would be the best for everyone,” Ananth Narayan, whole-time member of the Securities and Exchange Board of India (SEBI) said while speaking at the Moneycontrol Creator Economy Summit at Mumbai on Tuesday.

    “If you want your community to gain, tell us what is going wrong. It gives us a lot of comfort to know that there is a community that is taking care of its problems,” Narayan elaborated saying that the finfluencer community is in the best position to show the bad apples in the industry.

    Narayan said that finfluencers need to communicate and help the market regulator form better regulations. “Help us, come back with feedback. Refer to other jurisdictions and show us the way. Talk to us about how something can slip through the regulations and how we can prevent this,” he asked the finfluencers at the Moneycontrol Creator Economy Summit.

    Even the market regulator can make mistakes and is not perfect, according to Narayan. “Regulators could make errors. First, we let bad things happen. The second error is getting in the way of good things happening, like making regulations so difficult that good people can’t do business”, he added.

    Narayan reiterated that the market regulator is not going to baby sit investors and finfluencers and just wants finfluencers to provide quality education to investors. “Our job is not to create a nanny state. What I would love to see from content creators is high quality education. If you were advising your brother or mother, what advice would you give them? You wouldn’t worry about who is paying you. The best content comes from the industry itself. Things like education and capital formation are too important, and should not be left to the regulator alone” Narayan added.

    When asked whether increasing taxation for derivative trading would be better like taxing gambling ads to discourage excessive trading, Narayan conceded that there is logic in the suggestion, but said that it is out of syllabus and not in his domain to make a decision.

    Hosted by Moneycontrol, foremost financial news platform under the Network18 group, the Creator Economy Summit serves as the definitive platform for discussing vital issues in this sector, including challenges and the future landscape. The theme of this inaugural edition is ‘Creation, Innovation, Monetization,’ aimed at showcasing the optimism and resilience of Indian content creators. 

  • TV18’s news business registers 20 per cent revenue growth in Q2 FY24

    TV18’s news business registers 20 per cent revenue growth in Q2 FY24

    Mumbai: TV18’s news business has registered a solid 20 per cent revenue growth in the second quarter of the current financial year.

    Beating the industry trends, India’s largest TV news network registered a revenue of Rs 3 per cent 7 crore in the first quarter of current fiscal, as compared to Rs 298 crore for the same period last fiscal.

    The increase in the revenue comes on the back of strong viewership gains achieved by the network’s number-one channels. The news network maintained absolute leadership in the largest markets, with an all-India viewership share of 11.4 per cent.

    The digital news business of TV18 and Network18, which includes brands such as Moneycontrol, Firstpost, cnbctv18.com and news18.com, also saw a 20 per cent growth in revenue. It posted a revenue of Rs 104 crore in the second quarter of current fiscal, as compared to Rs 87 crore for the same period last fiscal.

    In Q1 FY24 also, the TV news network registered 26 per cent revenue growth, as compared to Q1 FY23.

    News18 was the highest-reach news network in the country, reaching 190mn consumers on a weekly basis. The network maintained its leadership position in key markets with CNBC TV18, News18 India, and CNN-News18 being number one in their respective genres.

    CNN-News18 was the number one English news channel with 32.8 per cent market share in the genre.

    CNBC TV18 continued to be the undisputed leader in the English Business News genre with 80 per cent overall share and nine per cent per cent plus viewership share during market hours.

    TV18 was also the primetime leader in the Hindi-speaking markets, solidifying its position as the network of choice in the region. The network had leadership in per cent regional markets, including UP/Uttarakhand, Rajasthan, MP/Chhatisgarh. News18 Lokmat, the Marathi language channel, climbed the viewership charts to become the second-ranked channel, driven by the programming initiatives launched over the past year.

    “TV news network delivered a strong growth in advertising revenue despite the continued weakness in advertising environment. The revenue growth was underpinned by the strong viewership share that the network has achieved which has helped it to improve pricing across the network. TV18’s sharp focus on building IP- events business has also helped it drive growth in revenue,” the company said in its results announcement.

     

  • Moneycontrol join hands with Aditya Birla Group

    Moneycontrol join hands with Aditya Birla Group

    Mumbai: Moneycontrol, India’s leading markets and finance platform, has joined hands with Aditya Birla Group to launch ‘1 Minute Investment Pops,’ a one-of-a-kind video series aimed at simplifying wealth creation for young investors.

    ‘1 Minute Investment Pops’ aims to simplify the world of investments, offering viewers a quick and insightful glimpse into various investment avenues in just a minute. In each video, market experts such as CNBC TV18 anchors Nigel Dsouza, Sonal Mehrotra, Sonia Shenoy explain different methods of investing, providing viewers with the essential knowledge to start or continue their investment journey.

    At a time when short, engaging content rules the roost, there’s an opportunity for financial education to adapt and keep up. It’s all about being ‘snackable’ – quick, informative, and right to the point. However, there’s been little to no change in the way in which financial education is presented to beginner-level investors, and that’s the gap ‘1-minute investment pops’ aims to bridge. These bite-sized videos do not overwhelm the user with complex information; they ignite the viewers’ interest in saving and investing in just a minute.

    In the episodes so far, Dsouza has covered a range of investment topics including Hedge Funds, PPF (Public Provident Fund), Health Insurance Plans, and Mediclaim, while Sonal Mehrotra delved into topics like Pension Plans, Endowment Plans, and Term Insurance. Sonia Shenoy has addressed topics such as Bank Fixed Deposits, Post Office Fixed Deposits, and ULIPs (Unit Linked Insurance Plans).

    The digital video series targets mobile-first, new age consumers, and inspires them to adopt saving and investing practices. The simplified digital content enables easy sharing and serves as a valuable reference for informed investment decisions.

    ‘1 Minute Investment Pops’ is exclusively available on Moneycontrol’s digital platforms, including Instagram and YouTube.

    https://www.youtube.com/playlist?list=PLA_tb393dqDds6Toe51tCGcAwsJWreA9i

  • Moneycontrol Mutual Fund Summit 2.0 – Path to 20 crore investors

    Moneycontrol Mutual Fund Summit 2.0 – Path to 20 crore investors

    Mumbai: Moneycontrol, a leading financial website of the Network 18 group, is bringing the second edition of the Moneycontrol Mutual Fund Summit, which will be held in Mumbai on 11 October. The marquee event will see SEBI’s whole time member Ananth Narayan G, as its chief guest.

    The summit will see panel discussions with industry leaders, CEOs, and fund managers, who will deliberate on the challenges and opportunities before the Indian mutual fund industry as it aspires to go from roughly four crore investors at present to 20 Crore in 5-10 years. With inflows into mutual funds through systematic investment plans (SIP) crossing Rs 15,000 crore a month for the first time this year in July, the Indian MF industry is set for a quantum leap in the years ahead. Will the growth in assets under management (AUM) lead to a healthy growth of retail investors in the MF industry? That’s the question we’ll be asking at the second edition of the summit.

    Moneycontrol’s annual mutual fund conclave brings together experts to debate the ways in which the industry can move forward, become the chosen savings and investment vehicle, and increase the number of investors. The summit will also try to address how mutual funds should spread beyond the larger cities. Amid tightening regulations, reduced expenses over the years and stiff competition, the Indian MF industry faces the daunting task of spreading beyond the larger cities. Only four states – Maharashtra, Gujarat, Karnataka, and West Bengal – constitute 61 percent of the industry’s assets. What will it take for the geographical spread to get wider? How can mutual funds become a household name like bank fixed deposits or postal deposits?

    The Moneycontrol Mutual Fund Summit – Path to 20 Crore Investors is Powered by Axis Mutual Fund, Strategic Partner Reliance Industries Limited, and the Associate Partners are HSBC Mutual Fund, Motilal Oswal Asset Management, 360 ONE Asset, IBM, Baroda BNP Paribas Mutual Fund, Mirae Asset Mutual Fund. Meanwhile, new fund houses have entered the industry and still more are expected.

  • “Our dedication to improving educational outcomes for students worldwide is at the core of our existence” Unischolars’s Amit Singh

    “Our dedication to improving educational outcomes for students worldwide is at the core of our existence” Unischolars’s Amit Singh

    Mumbai: UniScholars is a rapidly growing integrated study-abroad platform and a one stop solution for all things study abroad. They play a vital role in fueling and chiselling a student’s ambition of studying abroad, and serve as a one-stop shop for everything students need all through the process, from pre-departure to landing.

    According to a report by Moneycontrol, the funding to Indian startups fell 77 per cent from Jan-July 2023 over 2022 and very few startups were able to secure funding around this time. Despite facing a funding slump, UniScholars not only secured $5 million of funding but also embarked on a journey that has left an indelible mark on their brand and the education industry.

    A key turning point in UniScholars’ journey was their collaboration with the cricketer Surya Kumar Yadav. His endorsement not only injected fresh energy into their brand but also opened doors to new possibilities.

    Indiantelevision.com caught up with in an email interaction with UniScholars founder Amit Singh, who shared some interesting insights on the company…

    Edited excerpts

    On motivating UniScholars to persevere and seek innovative solutions despite the funding constraints

    The education landscape is evolving rapidly, with increasing demands for personalised learning experiences and digital solutions. According to a market report, the Indian overseas education market is projected to hit $100 billion by 2025. This data signifies substantial growth potential, which we couldn’t afford to overlook.

    Furthermore, our dedication to improving educational outcomes for students worldwide is at the core of our existence. We’ve witnessed firsthand the positive impact our solutions have on students’ academic growth.

    We have also been resourceful in finding alternative funding and partnerships. Through strategic alignment with educational institutions and technology partners, we have gained access to vital resources and expertise, enabling us to sustain our innovation efforts.

    Our motivation to persevere and innovate in the face of funding constraints is fueled by the undeniable market potential in the education sector, the positive impact we have on students’ outcomes, and our ability to forge strategic partnerships. UniScholars remains resolute in its pursuit of improving education through innovation.

    On elaborating the strategic decisions UniScholars made to adapt and grow during this challenging period

    During challenging periods, we made strategic decisions to adapt and grow, ensuring our continued relevance and success in the global education landscape.

    UniScholars significantly invested in data analytics, leveraging data to gain a deeper understanding of user behaviour, learning patterns, and market trends. For instance –  We analysed student application data and uncovered a noteworthy trend: students who received personalised guidance from our advisors in selecting the ideal study abroad destination experienced a 30% higher acceptance rate at their chosen universities compared to those who did not receive such guidance. This data-driven insight prompted us to prioritise and enhance our personalised advisory services, leading to a 25% increase in the overall success rate of our students’ study abroad applications.

    Cost Optimization: During challenging periods, cost optimisation is crucial. We, at UniScholars, underwent a comprehensive review of its operational expenses, identifying areas for efficiency improvements. This allowed us to reduce our operational costs by 15%, ensuring sustainability even with limited funding.

    Strategic Partnerships: Furthermore, we actively sought out partnerships with educational institutions, governments, and non-profit organisations. These collaborations not only provided access to additional resources but also enhanced our credibility in the market.

    On sharing some insights into the development and execution of the marketing campaign and the specific results you witnessed

    Before launching the campaign, we conducted extensive market research to understand the challenges and pain points faced by students looking to study abroad. We realised that the study abroad market was cluttered with numerous players, many of whom lacked transparency and authenticity. This presented an opportunity for Unischolars to stand out as a trustworthy and reliable partner for students.

    Our campaign aimed to establish UniScholars as the premier solution for study abroad challenges, emphasising our unwavering reliability and integrity in a chaotic market.

    Surya Kumar Yadav, renowned for his 360 style cricketing skills, shared a natural synergy with the Unischolars brand. This connection stems from our comprehensive approach, where we assist students in realising their dreams of studying at their desired institutions while also helping them secure essential elements such as loans and accommodations.

    Our campaign message was straightforward and effective: “Unlock #TheRightDoor in the crowded study abroad market with Unischolars.” This succinctly communicated the problem and the solutions we offered.

    The impact of the campaign was significant. We observed an immediate 30% increase in website traffic during the first week of the campaign period, and our social media engagement grew by 40%. More importantly, there was a 25% increase in student inquiries and applications.

    On any other similar plans to collaborate with someone in future

    Our collaboration with Surya Kumar Yadav was a game-changer for Unischolars, and the excitement continues to ripple through our team. As for future partnerships, we’re currently delving into intriguing possibilities that are all about integrity, transparency, and reliability – the very foundations of Unischolars. While I can’t unveil the specifics just yet, rest assured, they’re as promising as they are groundbreaking. 

  • Moneycontrol exclusive: PM Narendra Modi on G20, global affairs, economy, and more

    Moneycontrol exclusive: PM Narendra Modi on G20, global affairs, economy, and more

    Mumbai: In an exclusive interview to Moneycontrol days before India readies to host the G20 Leaders Summit, PM Narendra Modi spoke at length on global issues, India’s growth prospects and its role in G20 and the overall economy.

    In an hour-long conversation at his 7, Lok Kalyan Marg office with Network 18 editors (Network18’s editor-in-chief Rahul Joshi, Network18 chief content officer Santosh Menon, Network18 managing editor (digital) Karthik Subbaraman, Moneycontrol’s chief content & strategy officer Javed Sayed), the prime minister also shared his views on inflation and the dangers of freebies.

    Talking about the India growth story, the prime minister said, “India’s growth is not only good for Indians but also for the world. India’s growth is clean and green growth. India’s growth is being achieved with a human-centric approach that can be replicated in other countries too. India’s growth helps further the interests of the Global South.”

    It’s the prime minister’s first interview to a digital-only publication in his second term. The full interview will be published on Moneycontrol.com at 7:30 am on Wednesday 6 September.  

    Sharing his views on India’s role in the G20, the prime minister said that India has been advancing the interests of the developing world, including the interests of nations not represented in the G20, such as the countries of the African Union.

    “Perhaps for the first time in the history of G20, the troika is with the developing world—Indonesia, India, and Brazil. This troika can amplify the voice of the developing world, at a crucial time when there are increased tensions due to global geopolitics.”

    The prime minister said that India has been proactive in finding solutions for global issues and the same is also reflected in the country’s agenda for G20. “When we laid out our agenda for the G20, it was welcomed universally, because everyone knew that we would bring our proactive and positive approach to help find solutions for global issues.”

    Prime minister Modi also said that the world is now convinced that India will play a larger role in shaping the global future.

    “When global leaders meet me, they are filled with a sense of optimism about India due to the efforts of 140 crore Indians across various sectors. They are also convinced that India has a lot to offer and must play a larger role in shaping the global future. This has also been witnessed in their support for our work through the G20 platform.”

    Talking about the G20 events and conferences that took place across the length and the breadth of the country in the last few months, the Prime Minister said, “Our democratization of the G20 Presidency is our investment in the capacity building of the people, especially youth, of various cities across the country.”

    Asked about India’s guiding principle for engaging with the world, the prime minister said it was no different from what his government followed at home.” We have followed the approach of Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas in our country over the last 9 years…. This is our guiding principle in global relations as well.”

    Talking about the problem of heightened inflation globally and its impact on India and countries of the Global South, prime minister Modi said, “As far as India is concerned, we have taken a number of steps to control inflation. Even in the face of adversities and global dynamics, India’s inflation was two percentage points lower than the global average inflation rate in 2022. Yet, we are not resting at that and are continuing to make pro-people decisions to boost ease of living. For example, recently on Raksha Bandhan, you saw how we reduced the prices of LPG for all consumers.”

    Sharing his views on debt vulnerabilities and damage to the economy from freebies, “The long-term implications of such policies destroy not only the economy but also society. The poor pay a heavy price. Yet again, the good thing is that people are becoming increasingly aware of the problem,” the prime minister said.

    “In this information age, news about the debt crisis in one country is travelling to many other countries. People are analysing the situation and awareness is spreading. This is helpful for other countries to take precautionary steps to avoid a similar situation in their own countries, with the people’s support. In our own country too, on multiple platforms, I have spoken about the need to be alert against financially irresponsible policies,” he added.

    The prime minister said that India’s political stability is the main reason why every sector could see deep reforms which led to stronger economic prospects for the country. “Due to this political stability, every other sector could see deep structural reforms. The economy, education, social empowerment, welfare delivery, infrastructure – I can keep on mentioning sectors that have seen reforms.”