Forum Views - February 2024
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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
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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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