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BOMBAY STOCK EXCHANGE BROKERS' FORUM (BBF) | MUMBAI, INDIA

FEBRUARY 2024 | VOLUME: 12 • ISSUE NO. 11 •

FORUM VIEWS - FEBRUARY 2024

FORUM VIEWS - FEBRUARY 2024

EXECUTIVE COMMITTEE

GOVERNING BOARD MEMBERS

BOMBAY STOCK EXCHANGE BROKERS’ FORUM (BBF)

GOVERNING BOARD 2023 - 24

FORUM VIEWS - FEBRUARY 2024

Ajit Sanghvi

MSS Securities

Pvt. Ltd.

Cyrus Khambata

Paytm

Money Ltd.

Ashish Rathi

HDFC

Securities Ltd.

Harin Mehta

M/s. V. C.

Mehta

Kamlesh Jhaveri

Jhaveri

Securities Ltd.

Ketan Marwadi

Marwadi Shares

& Finance Ltd.

Rajiv Kejriwal

SBICAP

Securities Ltd.

Neeraj Choksi

NJ India

Invest Pvt. Ltd.

Parth Nyati

Swastika

Investmart Ltd.

Dr. Pravin Bathe

Angel

One Ltd.

Purav Fozdar

Axiom Share

Broking Pvt. Ltd.

Kranthi Bathini

WealthMills

Securities Pvt. Ltd.

Vivek Gupta

GEPL Capital

Pvt. Ltd.

Virender Mansukhani

Mansukh Securities

and Finance Ltd.

Uttam Bagri

BCB Brokerage

Pvt. Ltd.

Tejas Khoday

Fyers Securities

Pvt. Ltd.

KISHOR KANSAGRA

Chairman | BBF

Pragya

Securities Pvt. Ltd.

KUSHAL SHAH

Jt. Secretary | BBF

Ratnakar

Securities Pvt. Ltd.

RAJIV CHOKSEY

Treasurer | BBF

KR Choksey Shares

& Securities Pvt. Ltd.

ANURAG BANSAL

Vice Chairman | BBF

SMC Global

Securities Ltd.

NIRAV GANDHI

Secretary | BBF

JM Financial

Services Ltd.

Saurabh Jain

SSJ Finance &

Securities Pvt. Ltd.

S. P. Toshniwal

Sunlight

Broking LLP

Roopkishor Bhootra

Anand Rathi Shares &

Stock Brokers Ltd.

Santosh Jayaram

GROWW

Shripal Shah

Kotak

Securities Ltd.

Ajay Kejriwal

Choice Equity

Broking Pvt. Ltd.

FORUM VIEWS - FEBRUARY 2024

Disclaimer: This magazine is meant for information purposes only and does not constitute any opinion or guidelines or recommendation on any course of action to be followed by the reader(s). It is not intended to be used as trading or

investment advice by anybody and should not in any way be treated as a recommendation. The information contained in this magazine does not constitute or form part of and should not be construed as, any offer for purchase or sale of

any product or service. While the information in the magazine has been compiled from sources believed to be reliable and in good faith, readers may note that the contents thereof including text, graphics, links or other items are

provided without warranties of any kind. Bombay Stock Exchange Brokers' Forum (BBF) expressly disclaims any warranty as to the accuracy, correctness, reliability, timeliness, merchantability or fitness for any particular purpose, of

this magazine. Bombay Stock Exchange Brokers' Forum (BBF) shall also not be liable for any damage or loss of any kind, howsoever caused as a result (direct or indirect) of the use of the information or data contained in this magazine.

Any alteration, transmission, photocopied distribution in part or in whole or reproduction of any form of this magazine or any part thereof without prior consent of Bombay Stock Exchange Brokers' Forum (BBF) is prohibited.

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FORUM VIEWS - FEBRUARY 2024

12

Your Questions

Answered

WEAPONS OF MASS

DESTRUCTION, THE ACT AND

ITS COMPLIANCE - A PRIMER

18 Insights

9 PILLARS OF GLOBAL

INVESTMENT DIVERSIFICATION

IN AN UNPREDICTABLE

ECONOMIC LANDSCAPE

20 Feature

COMPLIANCE CALENDAR

30

Regulatory

Compliance

EMBRACING THE PRESENT: UNVEILING THE

TRANSFORMATIVE ESSENCE OF MINDFULNESS

WHEN THE DOCTOR PRESCRIBES - IMAGE MANAGEMENT

INSURING SUCCESS: NAVIGATING THE SPECTRUM

OF INSURANCE POLICIES FOR STOCK BROKERS IN INDIA

08

Global

Insights

EMPOWERING WOMEN:

THE DYNAMICS OF SOCIAL

COMMERCE RESHAPING

MODERN BUSINESS

NEW ZEALAND

ENTREPRENEUR WORK VISA

SHOULD I BECOME AN

INDEPENDENT DIRECTOR?

RECENT DEVELOPMENTS -

IFSC & DOMESTIC FUNDS

HOW PODCASTS CAN HELP BRANDS GROW?

DEMIGODS IN CORPORATES - BOON OR A BANE

THE ROLE OF INTANGIBLE INPUTS IN

ECONOMIC TRANSFORMATION

BAILMENT

KAIVALYADHAMA 100 YEARS

2024 THE YEAR OF THE DRAGON:

EMBRACING AN AUSPICIOUS CYCLE

Leadership,

Empowerment

& Lifestyle

31

Concept, Production and Editorial: Dr. Vispi Rusi Bhathena, PhD (h.c.)

Editor & Publisher: Dr. V. Aditya Srinivas

Design & Layout: Harshad Gajera

th

Publisher’s address: BBF, 808A, 8

Floor, BSE Building, P.J Towers, Dalal Street, Fort, Mumbai - 400 001

st

Printing press: Kshitij Printers, 49 Parsi Panchayat Rd., Ashok Ind. Est., 1 Floor, Andheri (E), Mumbai - 400 069

BBF Steering Committee

Kishor Kansagra (Chairman)

Anurag Bansal (Vice Chairman)

Nirav Gandhi (Secretary)

Rajiv Choksey (Treasurer)

Kushal Shah (Jt. Secretary)

Dr. Vispi Rusi Bhathena, PhD (h.c.)

Chief Executive Officer

Dr. V. Aditya Srinivas

Chief Operating Officer

and Chief Economist

INDIAN ECONOMY: A LEADING FORCE ON THE GLOBAL STAGE: The Indian economy has emerged as a

beacon of strength amidst the current global challenges. Despite the prevailing global headwinds, our

economy has showcased remarkable resilience, achieving a GDP growth of 7.6%, a stark contrast to the

global economy's 3% growth rate. Key macroeconomic indicators signal a rapid uptick in economic activities,

positioning India on the path to becoming the world's third-largest economy.

One significant measure of economic health, the GST collections, consistently hover around Rs. 1.5 lakh crore

over the past 12 months, underscoring sustained fiscal stability. While the Consumer Price Index (CPI)

inflation has marginally increased to 5.69%, it remains below the Reserve Bank of India's target of 6%.

F R O M

T H E

BBF SECRETARIAT

The RBI, anticipating moderate inflation in 2024, has maintained a status quo on the policy rate, potentially

paving the way for a reduction in the cost of capital.

Although the Index for Industrial Production (IIP) growth dipped to 2.4% in November from the previous

month's 11.7%, signalling a temporary setback in manufacturing, the overall performance of the Indian

economy remains robust. Direct tax collections surged by 19%, reaching Rs. 14 lakh crores, showcasing the

buoyancy of revenue generation. Concurrently, GST collections continue to exhibit strength, consistently

surpassing Rs. 1.5 lakh crore monthly.

On the global stage, the US Federal Reserve's indication of potential interest rate reductions starting in 2024

contrasts with the prevailing challenges such as geopolitical tensions and global fragmentation. Despite

these hurdles, India stands out as a torchbearer, drawing confidence from institutions like the IMF and World

Bank, both expressing optimism in India's growth prospects.

Capital markets reflect this positive sentiment, witnessing substantial inflows as the Mutual Funds industry

reaches an impressive AUM of Rs. 50 lakh crores. The monthly SIP, standing at Rs. 16,000 crores, further

emphasizes the faith of retail investors in the narrative of India's economic growth.

In conclusion, the Indian economy not only weathered global challenges but emerged as a guiding force,

garnering confidence domestically and internationally.

FORUM VIEWS, FEBRUARY 2024 edition

From

to You...

BBF

FORUM VIEWS - FEBRUARY 2024

BBF physical interaction meeting series

Chennai, 11 January

Hyderabad, 12 January

FORUM VIEWS - FEBRUARY 2024

n the ever-evolving landscape of digital commerce, social

commerce has emerged as a transformative force,

Iseamlessly integrating social media and e-commerce to

create dynamic online marketplaces. This innovative

approach has not only revolutionized the way businesses

operate but has become a powerful tool for empowering

women in the realms of entrepreneurship, community

building, and financial independence.

Social commerce is not just a trend but a paradigm shift in the

way businesses connect with consumers. At its core, it

involves the integration of social media platforms and e-

commerce functionalities, allowing users to seamlessly buy

and sell products without leaving their favorite social

networks. This fusion leverages user-generated content, peer

recommendations, and interactive features to craft a more

engaging and personalized shopping experience.

Social commerce is proving to be a catalyst for change,

empowering modern women in multifaceted ways. Let's delve

into key aspects where social commerce is contributing to the

Understanding Social Commerce: A Fusion of Social

Media and E-commerce

The Impact on Women: How Social Commerce is Driving

Empowerment

empowerment of women and reshaping the business

landscape.

• According to a study by Shopify, there has been a notable

30% rise in women entrepreneurs leveraging social

commerce platforms for business ownership. These

platforms offer women the tools to initiate and manage

their own enterprises, from selling handmade products to

offering services.

• A survey conducted by Facebook highlights that 70% of

women using social commerce platforms attribute their

participation to flexible work structures. This flexibility

allows women to manage businesses, promote products,

and connect with customers at their own pace, fostering

better work-life integration

Business Ownership:

Work-Life Balance:

EMPOWERING WOMEN: THE DYNAMICS OF SOCIAL

COMMERCE RESHAPING MODERN BUSINESS

Tulika (Garg) Bhatia

Founder

SOROR - The Sisters Edit Pte. Ltd.

Market Expansion:

Networks and Support:

Income Generation:

• Social commerce empowers women to transcend

geographical constraints, reaching a global audience

without the need for extensive marketing budgets. This

opens up opportunities for women-owned businesses to

grow and thrive internationally.

• Insights from LinkedIn reveal a 25% increase in women

forming and contributing to online networks within social

commerce platforms. These networks provide a

supportive environment where women can connect, share

experiences, and foster collaboration and mentorship

opportunities.

• Social commerce serves as a catalyst for women to

generate income independently. Whether through selling

Social commerce is not just a trend

but a paradigm shift in the way

b u s i n e s s e s c o n n e c t w i t h

consumers. At its core, it involves

the integration of social media

platforms and e-commerce

functionalities, allowing users to

seamlessly buy and sell products

without leaving their favorite social

networks.

(Tokyo, Japan)

Global Insights

FORUM VIEWS - FEBRUARY 2024

products, providing services, or engaging in affiliate

marketing, women can contribute significantly to their

financial well-being.

• Social commerce platforms serve as educational hubs,

offering tutorials, product demonstrations, and

informative posts. Women actively access these

resources, enhancing their knowledge and skills across

various areas, contributing to personal and professional

growth.

• Empowered women on social commerce platforms have a

substantial influence on their communities, as indicated

by a Nielsen study. Their recommendations and

endorsements contribute to a notable 35% increase in

brand advocacy among their followers.

• Social commerce allows women to align with businesses

that share their values. Many women-led businesses

incorporate social and environmental responsibility into

their models, providing consumers with the opportunity

to contribute to positive change through their purchases.

Beyond its empowering impact on women, the social

commerce industry as a whole is experiencing remarkable

growth and innovation. The global social commerce market is

projected to surpass $3 trillion by 2025, underscoring its rapid

expansion and increasing significance in the broader e-

commerce landscape.

Over 90% of users make purchases through smartphones,

emphasizing the mobile-centric nature of social commerce

platforms. The accessibility through mobile devices plays a

pivotal role in the widespread adoption of social commerce,

especially among younger demographics.

Influencer marketing within social commerce is thriving, with

businesses earning an average of $6.50 for every $1 spent on

influencer marketing campaigns. This highlights the

effectiveness of influencers in driving engagement and

conversions, shaping consumer perceptions and

preferences.

Leading e-commerce platforms such as Shopify,

WooCommerce, and Magento are integrating social

commerce features. This seamless integration enhances the

shopping experience within social media environments,

bridging the gap between traditional online shopping and the

dynamic, interactive nature of social commerce.

Learning Opportunities:

Influencing Others:

Supporting Causes:

The Social Commerce Industry at Large: A Global

Phenomenon

Mobile Dominance:

Influencer Marketing Impact:

Integration with E-commerce Platforms:

Emergence of Live Shopping:

Cross-Border Commerce:

Personalization through AI:

Conclusion: Shaping the Narrative of Women’s

Participation in the Economy

Live shopping events are gaining popularity, with platforms

like Instagram and Facebook incorporating live video features

for product demonstrations and real-time interactions. This

trend emphasizes the interactive and engaging nature of social

commerce, providing users with a more immersive and

personalized shopping experience.

Social commerce facilitates cross-border commerce, with

approximately 55% of consumers making international

purchases through social media platforms. This global reach

presents significant opportunities for businesses to expand

their customer base beyond borders and tap into diverse

markets.

Artificial intelligence is playing a crucial role in personalizing

the social commerce experience. AI-driven algorithms analyze

user behavior, preferences, and interactions to provide

personalized product recommendations, enhancing user

satisfaction and driving conversions.

In summary, social commerce stands not only as a powerful

force for economic empowerment but also as a catalyst for

reshaping the narrative of women's participation in the

economy. Backed by data-driven insights, it provides

opportunities for women to thrive as entrepreneurs,

community builders, and influencers.

The evolving landscape of social commerce holds immense

potential for further transformative impact. As these platforms

continue to innovate and adapt, they have the potential to

redefine how women participate in the economy on their own

terms. Social commerce is not just a transactional tool; it's a

dynamic space where women are shaping their stories,

fostering collaboration, and influencing the global business

landscape. It's a testament to the power of technology and

connectivity in creating a more inclusive and empowering

business ecosystem.

Tulika Garg Bhatia, the visionary behind SOROR: The Sisters Edit, showcased

on the Founders Page Updates. A woman of diverse talents, she is a mother,

professional, and philanthropist who identified a community void and filled it with

her passion for technology. Graduating with BSc. Statistics Honors from Delhi

University's Lady Shri Ram College for Women, she later pursued an MBA from

the Institute of Management Technology, Ghaziabad. Her decade-long

experience with giants like HSBC Bank & American Express India marked her

professional journey.

However, as she built a loving family, she sensed a loss of personal drive and

passion. This void fueled the birth of SOROR, an empowering platform fostering

sisterhood, understanding, and compassion among women globally. What

started as a blog has evolved into a community connecting millions of women.

She envisions SOROR as a safe space for women to be fearlessly vulnerable,

creating a habitat worth cherishing.

Stay updated with her journey through her newsletter or visit

www.sororedit.com. LinkedIn https://www.linkedin.com/in/tulika-garg/

10

FORUM VIEWS - FEBRUARY 2024

orn and brought up in India, I migrated to New Zealand

in 2001 with my family in my early 30s. Based now in

BHamilton city, it has been one of the best decisions of

my life to relocate to this safe, secure and welcoming society.

In an increasingly global village, it has become easier than ever

before to relocate and start a new life, career or business

anywhere in the world. Inspired by my own journey and

experience, I set up a company to encourage more talented

people from India to migrate to New Zealand and work

towards a prosperous and well balanced life comprising a

good mix of personal and professional endeavors.

I personally look into the high value visa categories such as the

Investor Plus Category Visa and the Entrepreneur Work Visa.

My colleague and co-director Dr Anatole Bogatski who is a

former trade diplomat of the country, gives special attention

and advice to our investor and entrepreneur clients. It is in this

context I share details of how you can consider one of these

options called the Entrepreneur Work Visa (EWV) which is

relatively simple and straightforward if you have a good idea

and have enough capital to back it, sometimes as low as

NZ$100,000 (approximately INR 50 lacs) which can be waived

in certain instances. That’s all you need if you are looking at a

new start in one of the most peaceful and welcoming countries

on earth. I will not dwell too much upon the Investor Plus

Category as that involves an investment of NZ$15 million

(approximately INR 25 crores) or above. For those who are

keen to try this pathway, I am happy to talk more about it in a

subsequent article. For the time being, let us stick to the EWV.

New Zealand is open for business and welcomes your

experience, networks and energy to help grow the economy

and build great futures for all individuals and families, residents

of New Zealand. For several years in a row New Zealand has

ranked number one in the world for ease of doing business in

the World Bank Doing Business Report. This report covers the

following criteria:

• Starting a business - procedures, time, cost, and minimum

capital to open a new business

• Dealing with construction permits - procedures, time and

cost to build a warehouse

• Getting electricity - procedures, time and cost required for

a business to obtain a permanent electricity connection for

a newly constructed warehouse

Overview of New Zealand Business Opportunities

NEW ZEALAND ENTREPRENEUR WORK VISA

Arun Jacob

Founder & Director

AJV Global

• Registering property - procedures, time and cost to

register commercial real estate

• Getting credit - strength of legal rights index, depth of

credit information index

• Protecting investors - indices on the extent of disclosure,

the extent of director liability, and ease of shareholder suits

• Paying taxes - number of taxes paid, hours per year spent

preparing tax returns, and total tax payable as a share of

gross profit

• Trading across borders - number of documents, cost and

time necessary to export and import

• Enforcing contracts - procedures, time and cost to enforce

a debt contract

• Resolving insolvency - the time, cost and recovery rate (%)

under a bankruptcy proceeding

You can start a business in New Zealand, receive an

Entrepreneur Work Visa (EWV), and apply for residence after a

New Zealand is open for business and

welcomes your experience, networks

and energy to help grow the economy

and build great futures for all

individuals and families, residents of

New Zealand. For several years in a

row New Zealand has ranked number

one in the world for ease of doing

business in the World Bank Doing

Business Report.

(Waikato, New Zealand)

Global Insights

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