Unique Times November 2023

Vol 13 Issue No.145 Nov - Dec 2023 USD 0.70`50AED 5BD 0.500

GDP May Surpass Estimates Shri V.P. Nandakumar MD & CEO, Manappuram Finance Ltd

Roshni Nadar Malhotra: A Symphony Of Innovation & Impact Chairperson, HCL Technologies

Available at: SAJ EARTH RESORT, Kochi, MANAPPURAM RITI JEWELLERY, All over South India

Chief Mentor Mr. V.P. Nandakumar Director & CEO Jebitha Ajit Editor Ajit Ravi Legal Advisor Latha Anand

B.S.Krishnan Associates bskrishnanassociates@gmail.com Sub-Editor Anusha Varghese Associate Editor Ravi Saini

Athulya Pradip Correspondents Dr. Thomas Nechupadam

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Editorial

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omen are the largest untapped reservoir of talent in the world. - Hillary Clinton In the ever-evolving landscape of global business, there exist a rare few who not only defy conventions but also chart new frontiers for entire industries. Among these luminaries, Roshni Nadar Malhotra, Chairperson of HCL Technologies, shines as a paragon of innovative leadership and unwavering determination. As the pioneering woman at the helm of one of India's leading technology companies, her journey is characterized by resilience, visionary insight, and an unrelenting commitment to catalyzing transformative change. Notably, Unique Times bestowed upon her the distinguished title of Most Powerful Woman, further solidifying her exceptional legacy and influential contributions.

In this edition, we present the cover story about Roshni Nadar, underscoring her indelible mark as a trailblazer in the global business landscape.

Also in this edition, V P Nandakumar, the Managing Director and CEO at Manappuram Finance Limited, shares his perspective on the subject "GDP May Surpass Estimates".

Additionally, apart from the previously mentioned articles, this edition includes our regular sections covering travel, automotive review, beauty, reviews of movies and books, along with motivational and business-oriented articles.

"The entrepreneur always searches for change, responds to it, and exploits it as an opportunity." - Peter Drucker

Happy Reading!

Cover Photograph Roshni Nadar Malhotra Chairperson, HCL Technologies

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CONTENTS

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14

Roshni Nadar Malhotra: A Symphony of Innovation & Impact

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COVERSTORY 20

BUSINESS

GDP May Surpass Estimates

24

Climate Change Needs Mind and Heart Space…

28

Different Types of Neurological Pains How to Tackle

BUSINESS

24

CONTENTS AUTO REVIEW

FINANCE

58

36

36

Most Favoured Nation Has The Favour Gone?

48

Gadgets

50

Gourd-geous Skin and Luscious Locks: Pumpkin's Magic Touch

TRAVELOGUE

BEAUTY

52

52

50

Oaxaca Unveiled: A Journey through Mexico's Cultural Gem

58

BMW iX

UNIQUE DIARY

Narayana Murthy’s 70-Hour Work Advice for People Below 30: Ex-Infosys CFO Cites Data

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mid a heated debate surrounding Narayana Murthy's controversial endorsement of a 70-hour work week, former Infosys CFO, TV Mohandas Pai, defended Murthy's advice by citing data on the average working hours in India, which stood at 61.6 hours per week. Pai emphasized that Murthy's recommendation was primarily directed at individuals below 30 and underscored the necessity of hard work for prosperity. The data, sourced from the Time Use Survey conducted by the Indian government in 2019, revealed that Dadra and Nagar Haveli and Daman and Diu recorded the highest average working hours at 78.6 hours per week, surpassing Murthy's proposed limit. In a podcast hosted by Mohandas Pai, Narayana Murthy highlighted the imperative need for India to enhance its productivity, expressing concerns about the country's low work productivity and bureaucratic inefficiencies. He urged Indian youth to dedicate 70 hours per week to work, drawing parallels with the postWorld War II practices of countries like Germany and Japan.

Indian Airlines to Operate 8% More Weekly Flights This Winter

"The function of leadership is to produce more leaders, not more followers."

Ralph Nader

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November - December 2023

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uring the winter schedule from October 29 to March 30 next year, Indian airlines are set to boost their weekly flight operations by 8%, as per the Directorate General of Civil Aviation (DGCA). Notably, Go First will be absent from the schedule due to ongoing insolvency proceedings. The approved winter schedule involves a total of 23,732 weekly flights to and from 118 airports, with major carriers such as IndiGo and Air India significantly increasing their operations. The plan outlines adjustments for various airlines, with some showing reduced operations while others anticipate an increase. The finalization of the winter schedule comes after the slot conference meeting in September, with clearance received from respective airport operators through the eGCA portal. India continues to demonstrate itself as a rapidly expanding civil aviation market with a notable surge in air traffic.

UNIQUE DIARY

RBI Fines ICICI Bank, Kotak Mahindra Bank for Failing to Report Fraud

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he Reserve Bank of India (RBI) has announced that ICICI Bank has been fined `12.19 crore for breaching regulations concerning the bank's directors' code of conduct and failure to report frauds within the stipulated timeframe. According to the RBI, its inspection reports revealed that ICICI Bank had granted loans to companies where two of its directors also held directorial positions.

Additionally, the bank had sold non-financial products and failed to notify the central bank about detected frauds within the required three-week period. Furthermore, Kotak Mahindra Bank, another private lender, was penalized separately with a fine of `3.95 crore. The inspections found that the bank had imposed interest on certain loans in contrast to the terms of sanction, neglected to conduct an annual review of a service provider, and had breached the RBI's directive by contacting customers between 7 pm and 7 am. These violations were identified during an inspection for the fiscal year concluding in March 2022.

Amazon India Sees Biggest Ever 48 Hours of Shopping with Record 9.5 Crore Customer Visits

"The way to get started is to quit talking and begin doing."

Walt Disney

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November - December 2023

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ccording to Manish Tiwary, Vice President & Country Manager, India Consumer Business, Amazon, the initial 48 hours of the Amazon Great Indian Festival 2023 marked a phenomenal start, boasting the highest number of customer visits, significant Prime membership participation, and an unprecedented surge in transactions and orders. With an overwhelming response from non-metro cities, the event witnessed exceptional same-day deliveries for over 10 lakh customers across the country. Several sellers, especially from tier 2-3 cities, achieved their best sales records, indicating a substantial increase in small and medium businesses' participation. The sale witnessed an impressive demand for various smartphone brands, with OnePlus, Samsung, and Apple leading the pack.

Notably, the event also showcased a remarkable uptake in Amazon Pay UPI sign-ups, with a significant increase in flight and hotel bookings across multiple cities. Additionally, the introduction of over 5,000 new products across different categories further accentuated the success of the festival.

Air India Express to Induct 50 New Boeing 737 Max Planes by December 2024

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ir India Express, which is currently merging AIX Connect into its operations, has outlined plans to include 50 new B737 MAX aircraft within the next 15 months, bolstering its aviation business under the Tata Group. The amalgamated entity of Air India Express and AIX Connect, set to unveil its new brand on October 18, has successfully achieved key integration milestones, including the adoption of a common reservations and check-in system. Presently, the combined fleet comprises 56 aircraft, featuring 26 B737s, 2 B737 MAXs, 5 A320 neos, and 23 A320s. Aloke Singh, the Managing Director of Air India Express and AIX Connect, emphasized the entity's focus on capacity deployment preparedness, with over 800 aircrew and operational personnel undergoing various stages of training. The integrated entity conducts approximately 2,700 weekly flights to 44 destinations, encompassing 14 international locations. With the Tata Group at its helm since January last year, the unified carrier operates as the LowCost Carrier (LCC) for the conglomerate.

India Permits Export of 1 Million Tonnes of NonBasmati White Rice to Seven Countries

"In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later."

Harold S. Geneen

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midst the restrictions imposed earlier to ensure sufficient domestic rice availability, the government has chosen to enable the export of non-basmati white rice to certain nations, considering their specific requests and food security needs. The recent move to allow exports through the National Cooperative Exports Limited (NCEL) aligns with India's commitment to support global food security efforts. The allocated quantities for each country underscore the Indian government's efforts to balance domestic requirements with international obligations, acknowledging the significance of maintaining stable relationships with partner countries. This decision highlights the nuanced approach taken by the authorities to manage the country's food resources effectively, ensuring both domestic stability and cooperative engagement with the global community.

November - December 2023

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UEFA Confirms UK and Ireland as Hosts for Euro 2028 Tournament

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n an announcement by UEFA, the United Kingdom and the Republic of Ireland have been confirmed as the hosts for the 2028 European Championship. This joint bid became the sole contender after Turkey withdrew to concentrate on a joint bid with Italy for Euro 2032, which was also approved. The choice of the UK and Ireland for Euro 2028 followed their decision to step away from being Europe's preferred candidate for the 2030 World Cup. Key venues for Euro 2028 are expected to include London's Wembley Stadium, which is slated to host the final, and Cardiff's Principality Stadium for the opening match. While England has hosted major football tournaments before, this marks the first time that the Republic of Ireland, Northern Ireland, and Wales will host such an event. Matches are planned at various stadiums, including Glasgow's Hampden Park and Dublin's Aviva Stadium.

The Rock Waxwork Museum Makes Skin Tone Fix After Criticism

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he Grevin Museum in Paris proudly showcased a lifesized wax figure of the famous wrestler-turned-actor, but faced backlash for misrepresenting his skin tone, leading to accusations of "whitewashing." The Rock himself expressed disappointment, urging the museum to accurately reflect his dual heritage. Responding promptly, the museum swiftly adjusted the wax figure's skin tone as a corrective measure. Museum director Yves Delhommeau acknowledged the need for further modifications and anticipated The Rock's visit to review the changes. The museum had relied on photographs and videos during the creation process, with artist Stéphane Barret investing extensive effort in perfecting the model, including multiple adjustments to the eyes. Dwayne "The Rock" Johnson, known for his mixed African American and Samoan heritage, comes from a family deeply rooted in wrestling, as his father, Wayde Douglas Bowles, was a renowned wrestler himself.

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November - December 2023

Women’s Champions League: Chelsea Visit Real Madrid in Group Stage Opener

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helsea FC is set to kick off their Champions League journey with an away match against Real Madrid on 15th November. This is the second consecutive year that Emma Hayes' team has been grouped with Real Madrid, having secured a draw away and a victory at home in the previous season. Following their group stage triumph, Chelsea advanced to the 2022-23 semi-finals, whereas Real Madrid failed to progress after finishing third in their group. UEFA released the group-stage fixture dates on 21st October following 20th October’s draw, scheduling matches to take place between 14th November and 31st January. The top two teams from each group will advance to the knockout stages. As the sole British representative in this season's group stages, Chelsea's first home game is against Paris FC on 23rd November, with subsequent fixtures against BK Hacken, both home and away on 14th and 20th December respectively. The team will then host Real Madrid on 24th January and conclude their group stage campaign with an away match against Paris FC on 30th January.

Icelandic Prime Minister Takes Stand on Gender Pay Disparity

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housands of women in Iceland, including Prime Minister Katrín Jakobsdóttir, are participating in a strike, known as "kvennafrí," to protest against the gender pay gap and gender-based violence. Sectors predominantly staffed by women, such as healthcare and education, are being notably affected. This strike is the first of its kind since 1975. The prime minister highlighted the government's efforts to address the undervaluation of female-dominated professions compared to male-dominated fields. While Iceland is globally recognized for its strides in gender equality, challenges persist, and the country ranks 14th worldwide in economic participation. The 1975 strike played a pivotal role in shaping Iceland's path towards gender equality, ultimately leading to the passage of an equal pay law. Former President Vigdís Finnbogadóttir regarded the strike as a crucial milestone in Iceland's progress towards women's emancipation.

For more info: europetimes.co

November - December 2023

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COVER STORY COVERSTORY

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Roshni Nadar Malhotra: A Symphony of Innovation & Impact

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mid the vast, uncharted galaxy where technology, philanthropy and innovation coalesce, lodestars that show the way are few and far.

But without an iota of doubt, one can point to this Indian woman entrepreneur as one of the brightest guiding stars in that constellation.

Meet Roshni Nadar Malhotra, the chairperson of HCL Technologies, one of India’s leading Information Technology behemoths, who is carrying on a glorious patrimony and making strides as an influential leader and innovator in her own right.

Her rare blend of business acumen, leadership skills and farsightedness is taking the MNC to greater heights and is also reshaping the landscape of education, inclusivity, and societal progress. Roshni Nadar has not only been instrumental in the transformation of HCL Technologies but has also left an indelible mark as a powerful woman in India. She rightfully earned the title of the most powerful woman in the country from Unique Times, a testament to her remarkable achievements and influence in various domains. Unique Times takes you on a captivating journey through the multifaceted life and achievements of Roshni, peeling back the layers that have reshaped the boundaries of technology, philan-

thropy, and leadership in more ways than one.

Nurturing a Visionary The scion of the renowned Nadar family, Roshni was anchored to a culture that deeply valued education and technology right from a tender age. Growing up in the nurturing cocoon of the Nadar household as the only daughter of HCL’s founder Shiv Nadar, she was not merely encouraged but rather passionately motivated to explore her own interests and cultivate a strong entrepreneurial mindset.

Roshni is boldly following in the footsteps of her father, who established HCL in 1976. A true rags-toriches story, Shiv began scripting the success saga of this global corporate powerhouse from the humble confines of a rooftop apartment in Delhi.

The company's origins were firmly rooted in hardware manufacturing, marking its pioneering role in producing India's first homegrown computers. Since that humble beginning, HCL has been navigating the ever-evolving sea of technology, riding the waves of innovation and adaptation with the inspiring presence of Roshni at its rudder.

Her formative years were an exquisite blend of intellectual rigour and a hands-on immersion in the complexities of the ever-evolving

technology landscape. This unique environment not only fuelled her intellectual curiosity but also kindled a profound passion for innovation. It instilled in her a belief that technology and education could be formidable tools for driving positive change in society. Roshni's upbringing was a testament to the idea that the potent cocktail of knowledge and technology can be a catalyst for transformation on a grand scale.

Today, according to HCL Technologies' own account, the company has burgeoned into a colossal $12.6 billion revenue, with significant assets totalling $11.4 billion and a dedicated workforce of over 223,400 professionals. This meteoric rise from its modest origins underscores HCL's indomitable spirit and its remarkable odyssey towards becoming a technological titan on the world stage. As the proud torchbearer of this impressive legacy, the rudder of the company is safe in Roshni’s hands and she is confident of steering it through the uncharted waters of the future.

The Architect of HCL's Technological Renaissance Roshni's remarkable journey through the ranks of HCL closely paralleled her unwavering quest for excellence and groundbreaking innovation. Demonstrating an acute

November - December 2023

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COVER STORY COVERSTORY

Growing up in the nurturing cocoon of the Nadar household as the only daughter of HCL’s founder Shiv Nadar, she was not merely encouraged but rather passionately motivated to explore her own interests and cultivate a strong entrepreneurial mindset.

awareness of the ever-changing landscape of the technology industry, she swiftly etched her own distinctive path, occupying influential positions that propelled HCL to the vanguard of technological progress.

The strategist in her coupled with business foresight was the driving force behind expanding the company's global presence and cementing its standing as a pioneering force in the domain of digital transformation. Roshni not only amplified HCL's reach on the international stage but also redefined the frontiers of its reputation as an industry trailblazer, leading the charge toward a future defined by technological advancements and visionary leadership.

Illuminating Pathways to Education and Social Change Corporate achievements apart, what makes Roshni stand head and shoulders above others of her ilk is her unwavering commitment towards the advancement of education and the betterment of society. She achieves this by playing an instrumental role in the Shiv Nadar Foundation. Through a myriad of educational programmes and initiatives aimed at empowering underserved and marginalised communities, she has vividly highlighted the profound

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impact of education in driving sustainable development.

Initially, Roshni did not harbour strong ambitions of becoming deeply involved in HCL Infosystems and HCL Technologies, directing her focus instead towards the realm of social enterprise. Her maiden venture, Vidyagyan School located in Bulandshahr, Uttar Pradesh, extended the gift of free education to children in rural areas, illustrating her firm belief that profit and education should not be intertwined.

In an interview, she eloquently stated, "Money-making and education do not go together," underscoring her unswerving commitment to using education as a force for social good. This pioneering approach not only showcased her dedication to making a meaningful impact on society but also served as a testament to her profound understanding of the transformative potential of education in rewriting the destiny of underserved communities.

Her resolute dedication to nurturing talent and fostering socioeconomic inclusivity has left an indelible mark on a wide spectrum of society. It has ignited a transformative wave of change that resonates throughout the intricate fabric of Indian education. The ripple effect Roshni has created continues to re-

November - December 2023

verberate through the corridors of progress and opportunity. Her commitment to these causes has not only enriched lives but also kindled a beacon of hope for those who have long aspired to attain education as a path to a brighter future.

Pioneering Inclusivity and Diversity in Corporate Culture Roshni's steadfast dedication to cultivating an all-encompassing and diverse workplace has established a compelling model for businesses on a global scale. Through her fervent advocacy for gender parity and diversity within corporate settings, she has altered the chemistry of corporate culture, underscoring the fundamental importance of inclusivity in driving innovation and growth.

Her focus on nurturing an environment that cherishes diversity remains like a golden tassel on the corporate tapestry of HCL. Beyond the confines of the company, it has served as a profound source of inspiration for a generation of aspiring professionals, encouraging them to embrace inclusivity as an integral pillar of comprehensive personal and professional growth. Roshni's visionary approach to fostering inclusivity in the workplace not only enriches the corporate landscape but also serves as a pole star for those who

strive for a world where diversity is celebrated as a catalyst for progress.

Redefining Success Amidst Adversity Roshni's odyssey as the Chairperson of HCL Corporation symbolises a narrative of resilience and adaptability in the face of adversity. Her unparalleled leadership style, marked by a steadfast focus on business impact, has transcended the conventional barriers of gender disparity within the tech industry. While navigating the complexities of an ever-evolving digital era, her unwavering commitment to fostering inclusivity and a collaborative work culture stands as a testament to her transformative leadership. With a keen emphasis on leading by example and cultivating a spirit of continuous learning, she has not only championed HCL's global prominence but has also paved the way for a more dynamic future for women in leadership roles within the tech realm. As she continues to steer HCL through the winds of change, Nadar's journey serves as an inspiration for aspiring leaders, highlighting the significance of resilience, adaptability, and a relentless pursuit of excellence in redefining success amidst challenging circumstances.

Celebrating Multifaceted Excellence Her impactful contributions to business and philanthropy have garnered Roshni an array of prestigious honours and accolades.

In 2014, she won NDTV’s Young Philanthropist of the Year Award. She was conferred the World's Most Innovative People Award for Philanthropic Innovation by the World Summit on Innovation & Entrepreneurship in the year 2015. In the year 2017, she was Vogue India's Philanthropist of the Year. Notably, her inclusion in Forbes' 'The World's 100 Most Powerful Women' list for six consecutive years, alongside her recognition as one of the '25 Most Powerful Businesswomen in Asia', attests to her influential standing in the global arena.

This ace business magnate was ranked 53rd in the 2022 Forbes' 'The World's 100 Most Powerful Women' list. Her dynamic leadership has been further acknowledged through the 'Most Powerful Women in Business 2023' title by Business Today and the esteemed Lewis Institute Community Changemaker Award presented by Babson College

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Roshni Nadar's legacy is not only a testament to her glorious patrimony but also a tribute to her own remarkable abilities and contributions.

in 2017. Recognised as the 'Indian Business Leader of the Year 2019'

by Horasis, she has also contributed significantly as an alumnus of the Forum of Young Global Leaders (YGL, 2014-19), fostering a network of emerging leaders dedicated to catalysing global change.

In tandem with her corporate achievements, Roshni has made notable strides in cultural stewardship, producing the impactful TV series 'On The Brink' for Animal Planet/ Discovery channels since 2019.

The series sheds light on India's endangered wildlife, with the episode on bats earning the prestigious Best Indian National Film Award for Science & Technology in 2022.

Additionally, her production of the poignant children's film 'Halkaa' in 2018, directed by National Awardee Nila Madhab Panda, further underscores her commitment to advocating for societal change and addressing the challenges faced by marginalised communities.

Pillars of Support and Guidance Behind Roshni Nadar's extraordinary journey in the world of technology and business stands a pillar of unwavering support and guid-

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ance from her family. Hailing from a family renowned for their contributions to business and philanthropy, Roshni is the only child of Shiv and Kiran Nadar. Her mother is an avid art collector, philanthropist, and trustee of the Shiv Nadar Foundation, as well as the founder of the Kiran Nadar Museum of Art. Under her father’s stewardship, the company emerged as a central player in India's ascent as an IT hub, a legacy that continues to shape Roshni's path today. Shiv retired from his position at the age of 75, leaving behind a rich legacy of innovation and excellence. Roshni's own diverse interests include classical music, a testament to the multifaceted influences within her family. In 2010, she married Shikhar Malhotra, CEO & vice chairman of HCL Healthcare, and together they have two sons, enriching her journey with the joys of family and parenthood alongside her professional pursuits. The support and encouragement of her family have not only nurtured her entrepreneurial spirit but have also instilled in her the values of integrity, resilience, and innovation, which have been instrumental in shaping her

November - December 2023

path as a trailblazing leader in the tech industry.

Building Bridges for Tomorrow's Innovators In the compelling narrative of Roshni's life, we find an extraordinary blend of leadership, innovation, and unwavering dedication to creating a brighter future. Her sojourn, marked by her profound influence in the realms of technology, education, and social change, serves as an inspiration to all. As we reflect on her saga, we witness the incredible impact one individual can have when driven by a deep commitment to excellence and a vision for positive transformation.

Roshni Nadar's legacy is not only a testament to her glorious patrimony but also a tribute to her own remarkable abilities and contributions. She has redefined the contours of leadership and demonstrated the boundless potential of technology as a force for good. Her commitment to education, inclusivity, and innovation has touched the lives of many. Her journey is a beacon of hope, urging us all to embrace the possibilities of reshaping our world for the better, one visionary step at a time

BUSINESS

What makes me confident in saying that the Indian economy is likely to expand at a faster clip than the forecast is the results of the recently released forward looking survey published by the RBI. Shri V.P.Nandakumar MD & CEO Manappuram Finance Ltd

GDP May Surpass Estimates The recent uptick in most macro-indicators point to a spurt in economic expansion that may beat forecast and expectations.

While IMF has revised India’s GDP growth to 6.3%, RBI is sticking to its forecast of 6.5%

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he Indian economy is most likely to spring a surprise on the upside with the GDP growth beating the Reserve Bank of India’s forecast of 6.5% for the fiscal 2023-24. This is mirrored in the recent upward revision in India’s GDP growth by IMF despite lowering the growth projections for the world economy for the current fiscal. To me, the base case scenario for India’s GDP topping the 6.5% mark looks plausible since the domestic macro-economic constructs are looking upbeat. This is borne out of the fact that the GDP expansion

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in the past few quarters remains well above the historic trend line. And inflation easing consistently monthon-month adds credence to this belief. Though higher-for-longer interest rate inflates the cost of capital, the balance sheets of both financial and non-financial corporates never looked healthier than now is another reason for my optimism.

Let me make my case for the higher-than-expected GDP growth one by one. First and foremost, the synchronised and calibrated policy actions by the fiscal and monetary authorities should be credited for the

November - December 2023

better-than-expected GDP expansion for the current fiscal. Both the Government and the RBI are on the same page when it comes to aligning inflation to the targeted 4%. While, on its part, the Government has maintained its flexibility in reducing taxes of the key petroleum products whenever it found it necessary, the Central Bank has never let down its guard against fighting inflation while ensuring adequate systemic liquidity.

This is a major learning for the policy makers in other countries where the belief that a recession is necessary for taming inflation has become al-

most a dogma. Since I don’t want to sit on judgement about the merits or demerits of other countries’ policy actions, I am deliberately avoiding any references or analogies.

Having said that, what makes me confident in saying that the Indian economy is likely to expand at a faster clip than the forecast is the results of the recently released forward looking survey published by the RBI. The survey results unequivocally underscore the growing confidence of various stakeholders in the Indian economy, which remained highly resilient amidst back-to-back global, financial and geo-political shocks. The survey results reveal that consumer confidence has reverted to its recovery path after a brief pause in July with the Current Situation Index (CSI) reaching a four-year high on the back of respondents' better assessment of current general economic situation and employment condi-

tions in September. To me, these findings are revealing since they will add colour to the consumption theme and it is quite reasonable to assume that the private final consumption, which accounts for over 60% of the economic expansion, will keep growing in the remaining months of the current fiscal.

Remember, consumption is the bedrock on which the great `India Growth Story’ has been built.

Further, general economic outlook as well as the prospects for employment, income and spending are expected to improve further over the next one year with the Future Expectations Index (FEI) reaching a four-year high. Above all, as the findings of the survey show that households remain highly optimistic about the future earnings even though their sentiment on current earnings has remained flat. Also important is the outlook on inflationary expectations by the respondents

who say the price level will moderate going forward. Indeed, oil prices remain a wild card given the rising geo-political tensions. According to the forecast by the International Energy Agency, crude prices are unlikely to breach the red line of $100 a barrel level in the current fiscal.

One should also take into account the massive infrastructure spending by the Government which will have a multiplier effect on other sectors since infrastructure has the highest forward and backward linkages with other productive sectors of the economy. The recent pick up in private sector capital spending and robust credit growth are also supportive for the higher-than-expected economic growth thesis this fiscal.

To me, these are necessary and sufficient conditions for the Indian economy to surpass the estimates and clock a world beating and record-breaking GDP expansion in the current fiscal

November - December 2023

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SPEC IAL REPORT

Dr Sumitha Nandan Executive Director Manappuram Finance Ltd

The cumulative effect of recent developments has seen gold prices, which were on the backfoot for some time, firming up with safe haven appeal of the yellow metal swaying investors’ sentiments.

A Friend in Need Gold loan companies may benefit from the tightening credit cycle, higher-than-ever gold prices after the latest geo-political episode in the Middle East and commercial lenders turning cautious in giving unsecured loans

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nce again, households that are in need of cash are finding that the gold loan companies are worth their weight in gold. A peek into the economic history unequivocally reveals that lenders who provide credit against the yellow metal have always provided money to households on time and without too many hassles whenever the credit gets dearer or dries up from other sources. The recent uptick in the volume of gold loans being availed by the households once again underscores this point.

To put it in perspective, credit markets are in a fluid state after major central banks made it clear that the `higher-for-longer’ rate corridor will remain open for an extended pe-

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riod as they believe the inflation fight is a glass half full and there are miles to go before the current rate hiking cycle reverses its course.

The immediate trigger for concern is the grim geo-political condition in the Middle East after the October 7 Hamas attack on Israel triggering the latest cycle of despicable violence in the region. The financial markets reacted by switching to risk-off mode leading to a broadbased sell-off across the equity vertical. Also, enhanced borrowing by the US treasury department to finance the ever-growing budget deficit of the world’s largest economy has landed bond markets in a chaotic state with yield on the benchmark 10-year treasury notes climbing to 5%. To add fuel to the fire, the World

November - December 2023

Bank has warned that the oil prices may top the $150 a barrel mark if the war between Israel and Hamas “leads to a repeat of the full-scale conflict in Middle East witnessed 50 years ago”.

The cumulative effect of these developments has seen gold prices, which were on the backfoot for some time, firming up with safe haven appeal of the yellow metal swaying investors’ sentiments. Gold prices are forecast to trend well above its 200-day moving average (DMA) of $1,933 per ounce and poised to cross the 2020 and 2022 peaks of $2,0702075 per ounce marks, according to projections by various analysts and trading houses.

Turning to the domestic economy, credit situation has never been

so tight as the RBI is sure to maintain the status quo on higher rates for a longer period. It is clear from the MPC minutes that the apex bank will not think about a rate cut any time soon till the inflation returns to the 4%-mark, the upper band of its comfort zone. At the same time, supervisory division of the Reserve Bank of India has flagged the sudden spike in unsecured loans by commercial lenders sending banks into a cautious

mode as they raise their guard against potential slippages in that particular segment of their loan book.

This trifecta of tightening credit cycle, higher-than-ever gold prices after the latest geo-political episode in the Middle East and commercial lenders turning cautious in giving unsecured loans may lead to households in need for money turning to gold loan companies. Since gold loans have

no inherent credit risks provided lenders go through the due process of diligence, I am convinced that this segment of the credit market will gain traction and grow going forward. Also, the higher the gold prices, higher will be the business volume of the gold loan companies since they could offer higher LTV or loan-to-value for customers. To say the least, households are once again finding gold loan companies as their proverbial friend in need

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BUSINESS

Rajesh Nair Partner, Ernst & Young LLP

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November - December 2023

Climate change is a multifunctional issue and it needs us to look at all subjects of our education to understand it.

Climate Change Needs Mind and Heart Space…

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he social discourse of our time constantly changes much like fashion. There is a hot topic of the month, quarter and the headlines have limited news value in a very short period of time because our attention spans are low and we skip onto the next ‘big thing'. But some things need mind and heart space like no other because they question us with the existential questions of not just us but the entire humanity at large.

Sustainability and Climate change is

a similar topic. The vagaries are for us to see – massive climate changes around us, the sweltering heat that gives us shivers when we played out in the sun in our childhoods without worrying about the heat and the urge to cozy in quickly in air-conditioned environs. Floods, which were a phenomenon we saw happening elsewhere in the world are at our doorstep and we see visuals of catastrophes around us like earthquakes quite often. What is needed is a connected engagement with the

Earth around us and what changes are happening. Often, we see these are disconnected events that are happenstance or sheer bad luck to the affected community – but there is a method to the madness.

For understanding this – it is worthwhile to brush up a little science and also perhaps a little geography where we learned about seasons and vegetation. Climate change is a multifunctional issue and it needs us to look at all subjects of our education to understand it. The bulk

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BUSINESS

Corporate social responsibility needs to be about the work they do on a daily basis and not about what environment and social projects they sponsor. of the energy on Earth comes from the sun. Solar radiation permeates through our atmosphere and lands of the the surface of the Earth. In this process, most of it is reflected back into space by layers of the atmosphere. The rest is absorbed by gas molecules in the atmosphere.

Carbon dioxide and several other gases are adept at absorbing solar radiation and converting it into heat.

The fuels are found in the Earth's crust and contain carbon and hydrogen, which can be burned for energy.

Coal, oil, and natural gas are exam-

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ples of what we call fossil fuels.

When fossil fuels are burned, carbon dioxide and other gases, which we call greenhouse gases are emitted back into the atmosphere.

Increasing concentrations of these gases have a greenhouse effect which refers to their innate nature to capture more heat on Earth. Something as simple as the increase of a degree of temperature leads to more frequent and more powerful weather anomalies. All these phenomena are not just confined to Earth but extend to the vast swathes of water around

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the land regions – the seas and the oceans.

All the water bodies around the world absorb the extra heat and get warmer. Warmer oceans cause rising sea levels, increasing temperatures and cataclysmic changes to weather patterns. If you have wondered why there are more incidents of cyclones, droughts, hurricanes – this is a primary reason. There have definitely been more instances in the last two decades than perhaps all of human history. Fundamentally the temperature rise has led to frequent and

stronger tropical cyclones, heat waves, and droughts, hurricanes, heavy rainfall, and floods. Floods and Tsunamis around the coastal regions are due to rising sea levels. A global increase in temperature melts the ice in the Arctic and Antarctic. Melting sea ice, glaciers, and permafrost cause rising sea levels. It heats up the seawater.

If you remember your high school physics – as the water warms up, it increases its volume and sea levels rise, increasing the severity and frequency of coastal floods that affect people living in low-lying coastal areas. Another frequent calamity is the wildfires due to droughts. Increasing temperature leads to more and more importantly longer drought cycles. This will definitely have a huge effect on agriculture too.

The intense wildfires are difficult to extinguish. Wildfires destroy residential areas as well as forests

ruining the green cover around us and our ability to absorb more carbon dioxide from the atmosphere.

Smoke from wildfires causes smog and air pollution and damages the health of people living nearby.

Added to this the storms, like tropical cyclones, hurricanes, and typhoons. Tropical cyclones, hurricanes, and typhoons are getting stronger. As the ocean warms up, more water evaporates from the surface. Hot and moist air triggers the formation of powerful storms.

This is an everyday problem. It is not enough if we leave it to the elected officers of the government to address these issues – we have definitely seen progress after the Paris Conference of 2015, where countries have come together and signed an accord to modify and curtail all development to ensure the temperature rise does not go beyond two degrees. The Paris Agreement's central aim is to strengthen the global response

to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.

Corporates also have a role to play. It is not the minor percent of their profits that the government mandates them to use for projects of social good but it is a way of functioning. Corporate social responsibility needs to be about the work they do on a daily basis and not about what environment and social projects they sponsor.

If we sit back and logically think, it is evidently clear that we have to abide by some of these cautionary principles to save the Earth. While we focus on leaving a better world for our progeny and future generations, if we are not abundantly cautious – there won’t be a world left to bequeath for tomorrow’s generation

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HEALTH

Dr Arun Oommen

Neurological pain is considered one of the most distressing and also one of the most challenging to treat and forms a major chunk of the patients seeking aid in pain and palliative clinics.

MBBS, MS (Gen Surg), MCh (Neurosurgery), MRCSEd,MBA Senior Consultant Neurosurgeon VPS Lakeshore Hospital NH-47, Bypass, Maradu, Nettoor PO, Kochi 682040, India.

Different Types of Neurological Pains How to Tackle

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eurological pain is considered one of the most distressing and also one of the most challenging to treat and forms a major chunk of the patients seeking aid in pain and palliative clinics.

There are a multitude of reasons for neurological pains of which 10 common causes are listed below.

1. Peripheral NeuropathyThese are common types of neurological pain characterized by burning/ electrical sensation in the hands and feet and may be associated with sensory loss and paraesthesia. Feet is more commonly affected than hands. Pain is symmetrical, slow onset, progressive and ascending type. There is no associated neck or

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back pain.

Common causes include uncontrolled diabetes, HIV, certain medications, chemotherapy, B12 deficiency and idiopathic.

Treat underlying cause. Antiseizure and anti-depressant medications can help.

2. Radicular pain down the legs or armsShooting type of pain caused due to nerve root irritation. The pain radiates along the path of the nerve.

It's very common. The most common cause is a disc prolapse which irritates the nerve and produces symptoms. Irritation can be due to direct mechanical irritation or due to an inflammatory reaction caused by the prolapsed material (nucleus

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pulposus containing inflammatory factors as Sub P and NO2). Prolonged irritation and decreasing blood supply make these nerves hypersensitive producing prolonged radicular pain.

Pain is typically burning, electric, sharp and lancinating. Pain aggravates on leaning forward. The affected nerve can be identified by proper neurological examination.

MRI can be used to identify the herniated disc.

Treatment includes epidural steroid injection, medications(antiseizure, antidepressants, opioids), physical therapy, and surgery in refractory cases.

3.Carpel tunnel syndromeMost common cause of pain in

the hand. Caused by compression of the median nerve under the transverse carpel ligament in the region of the wrist. Symptoms seen in the distribution of the median nerve i.e., the thumb, index, middle and half of ring finger are involved. The patient presents with an electric pinful sensation in the hand. Atrophy of hand muscles can occur in severe cases.

Treatment can be by wrist splints that keep the wrist in neutral position, medications(anti-seizure, antidepressant), steroid –LA injection.

Surgery in refractory cases.

4. Trigeminal NeuralgiaMost severe form of neurological pain. Sometimes so severe that it can lead to even suicide. Produces

severe sharp electric pain involving only one side of the face. Pain is precipitated even by mild sensory stimuli like fast-moving air. The cause is due to pathology in the trigeminal nerve supplying the face such as abnormal blood vessels compressing the nerve, etc.

Presentation is typical hence diagnosis is clinical. Produces brief, episodic, stabbing shock-like sensation. Unilateral in the distribution of the nerve never crossing the midline.

Treatment includes medicines like carbamazepine, pregabalin, baclofen opioids, etc. Trigeminal nerve block in severe pain. Surgery can be tried to tackle any abnormal vessels.

5. Alcohol-induced neuropathyPeople who drink too much may start to feel pain and tingling in their limbs. This is known as alcoholic neuropathy. The peripheral nerves (transmit signals between the body, the spinal cord, and the brain.) have been damaged by too much alcohol use. Thiamine, folate, niacin, vitamins B6 and B12, and vitamin E are all needed for proper nerve function.

Drinking too much can alter levels of these nutrients and alter nerve function. Other symptoms that can be associated with alcohol neuropathy include bowel and bladder problems, impotence and other sexual dysfunction. Fortunately, abstaining from alcohol can help restore your

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HEALTH

Aggressive treatment during the acute outbreak can prevent the progression to PHN. Acyclovir can be helpful. Antiseizures and antidepressants are also useful. nutritional health. This may improve your symptoms and help prevent further nerve damage. However, some alcohol-induced nerve damage is permanent.

The most important thing you can do to treat this condition is to stop drinking. Once alcohol use has been addressed, doctors can focus on the neuropathy itself. Symptom management is important.

Vitamin supplements can improve nerve health. Folate, thiamine, niacin, and vitamins B6, B12, and E are often recommended. Tricyclic

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antidepressants and anticonvulsant medication may both be used to reduce discomfort.

6. Postherpetic NeuralgiaPresents as burning pain across the chest or abdomen following an outbreak of herpes zoster. The Herpes zoster virus harbours in the dorsal root ganglion that is re-activated causing burning pain, tingling or electric sensation and itching alone the nerve distribution usually thoracic dermatome. Sometimes vesicles may be seen.

Aggressive treatment during the

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acute outbreak can prevent the progression to PHN. Acyclovir can be helpful. Antiseizures and antidepressants are also useful. Also, epidural steroids and lignocaine patches can also be tried. Spinal cord stimulators can be tried in refractory cases.

7. Meralgia paraestheticaOccurs due to irritation or compression of the nerve supplying the lateral aspect of the thigh i.e., the lateral femoral cutaneous nerve.

Presents as burning, tingling or paraesthesia in the lateral aspect of the thigh. No back ache or pain below

the knee. Causes can be pregnancy, abdominal tumors, ascites, obesity or trauma. Diagnosed clinically but NCS can help.

Treatment is conservative. Nerve block using steroids or local anesthetic can be useful. Physiotherapy can also be tried. If occurring during pregnancy it subsides after delivery.

8. Neurogenic ClaudicationThis can occur secondary to spinal canal stenosis where the diameter of the spinal canal gets reduced thus compressing the spinal cord and nerves. Spinal canal stenosis occurs secondary to age-related degeneration where there can be thickening of the ligaments in the spinal canal or hypertrophy of the facet joints or central disc herniation. Neurogenic claudication presents as pain and paraesthesia in the back, buttocks and legs and is relieved by rest. Symptoms are usually bilateral with a greater degree of pain in the back than legs.

Symptomatic treatment can be tried but severe compression may require surgery.

9. Radiation-induced neuropathic painRadiation used to treat cancer can cause neuropathic pain. The mechanism for radiation-induced neuropathy can be localized ischemia and subsequent fibrosis due to microvascular insufficiency. Symptoms present 1-30 years following radiation therapy. Usually, the brachial or lumbosacral plexus is involved. Symptoms start distally and progress. Diagnosis is by MRI and EMG. 10. Phantom limbAfter amputation, the patient may experience phantom sensation and phantom limb pain i.e., painful sensation in the absent limb. It is present in about 90% of patients in the first month after amputation and gradually decreases with time.

The complaints are a burning or crushing sensation in the absent limb. Mirror box manipulation is a novel approach to treat phantom limbs.

Anticonvulsants and antidepressants can be helpful. TENS (transcutaneous electric nerve stimulation) placed at the stump of the missing nerve can be helpful.

Other methods are spinal cord stimulation and sympathetic nerve blocks. A multimodal approach to patients' pain including psychological care is strongly recommended

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SPECIAL FEATURE

Manish Tewari's

Candid Conversation: Defending Civil Liberties, Democracy, and the Role of Citizens in India's Future

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n a freewheeling conversation with Elsa Lycias Joel, Manish Tewari talks about his early days, memories of travelling, how capable and visionary governance can complement our diversities to bring about unity and prosperity, why the government must honour the role of a free press only to foster a successful and stable democracy, why the last 9 years or so look like a spectre of undeclared emergency, a few fundamental revisits to ensure the freedom of speech and expression and catalyze the role of governors so that their actions do not become the subject of controversy in addition to avoiding allegations of political partisanship, experts recognizing paper ballots as one of the most important security measures India must switch over to and why each one of us must derive strength from the diversities that surround us, be more inclusive and commit to equal opportunity for all.

Given his credentials as a grass root public, political activist, lawyer, politician and Union Minister, Manish’s conversation weaves around defending civil liberties, the right to privacy and defending fundamental principles.

I guess you got an early understanding of national politics, patriotism, nationalism and national integrity from your father and grandparents. When did you decide to follow in their footsteps?

Elsa Lycias Joel

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I think it was a combination of portentous circumstances that impelled the journey. It wasn't something that was purely out of choice. And I guess the involvement then just kept getting deeper.

If I get a chance to rewind the last 40

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years of life I would do something differently such as giving my all to my profession first.

Unfortunately in the pursuit of public service, I couldn’t give my profession the amount of time it deserves or which ideally I would have liked to give to it.

With umpteen commitments, do you find time for your favorite sporting activities?

Well, it is always a tough act to juggle my various commitments. But yes, I do find the time to keep up with my sporting routine.

There is not much swimming and water polo these days. I hit the gym a lot because I always enjoy sweating it out.

Which responsibility did you cherish the most-International President of NSUI or Indian Youth Congress or Union Minister for Information and Broadcasting?

The three assignments that you refer to came with their own set of challenges.

I became the National President of the NSUI at the age of 22 which gave me a good learning experience. I travelled the length and breadth of the country for 5 years that helped me understand the diversity, meet different people, and experience cultures and customs and the bewildering array of languages and dialects literally was a treat to the ear. The multitude of cuisines are unforgettable. The intrinsic strength of Indian civilization can be seen, heard and felt all over our country. Travelling in a political context, I got acquainted with the political strands that have shaped various regions and sub regions. This diverse yet converging stream with an underlay of Indianness is visible everywhere, if one is willing to observe

without any prejudice.

Any memory fresh…

that

stays

Once in 1989 during the Tamil Nadu assembly elections, I and my colleague got into Trichy so late into the night. Unable to find a hotel, we decided to sleep on the platform at Trichy railway station as the retiring room was full. That night, I wondered about the homeless people who remained unaccounted for and excluded, absence of practical solutions and if dignity is an important variable to consider in understanding the experience of homelessness.

Anybody who has read the Special Marriages Act in juxtaposition with the Indian Succession Act will understand that it is a complete Uniform Civil Code (UCC). While many other directive principles of state policy are overlooked, why is the present government stressing the importance of the need for another UCC? Also, doesn’t this make people wonder why the BJP thinks there is a need for

UCC after 9 long years?

UCC is nothing but a dog whistle, a means of trying to other the otherness of the other. Therefore, when India has a voluntary UCC in terms of the Special Marriages Act in juxtaposition with the Indian Succession Act which you pointed out, there is no need to impose uniformity. In a country like ours, laws cannot be made and enforced by conveniently ignoring different faiths.

Even within the Hindu faith, there is so much diversity of customs and religious usage or traditions. Thus, any attempt to bring about uniformity would be clearly walking through a dangerous minefield suffice to say that it is highly undesirable.

The state has no business transgressing into people’s personal lives.

Metaphorically speaking, the state has no right to trespass into people’s bedrooms.

All said and done, let the BJP come up with a draft of UCC which is actually uniform in character without exempting anybody. I strongly doubt if they have even conceptualized a draft.

Sometime back, the onestep rollout of GST created panic in business, demonetization was another illconceived idea, three farm laws had to be repealed for the simple reason that they aimed at dismantling the MSP system, rules under CAA are yet to be framed and NJAC was struck down as unconstitutional. Thus the government has slipped and fell multiple times.

What makes them assume that they are still doing everything possible to respect the constitution and preserve the nature of Indian democracy?

This question should be better directed at the people in government. I cannot answer on their behalf. Demonetization and badly implemented GST disrupted the fundamentals of the Indian economy. And the rest of the paradigms that you mentioned, whether it was the Jammu Kashmir reorganization or the abrogation of Article 370 or the CAA or for that matter some of

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SPECIAL FEATURE the other actions of the government that transgress and infringe upon civil liberties completely untie the essence and the spirit of the constitution of India.

At present the situation is exactly like what Nina Poblezova, a Muscovite, said about Stalin. Social media is full of insinuations about propaganda gestures, selfcongratulatory talks, selfhypnotized propaganda din so on and so forth. Given the erosion of Press freedom, journalists are unable to talk or write the absolute truth. Sec 150 of the proposed Bharatiya Nyaya Sanhita Bill is an example.

Isn’t it pathetic that, however stringent the laws may be, the enforcers aren’t able to differentiate planted and real evidence, on time?

There never has been any freedom of the press in India. It was always the freedom of the owner of the press and the delegated freedom enjoyed by the manager of the press. Unfortunately one of the biggest failings of the Indian democratic experiment is the failure to create fearless media institutions which can speak truth to power. We saw the media crumbling in 1975 during the emergency. And now again, from 2014 onwards in the spectre of undeclared emergency, we see the media prostrating when expected to bend by the powers that be. Therefore, the inability to groom, and empower independent journalists, and create autonomous media platforms and media houses is a failing of the Indian democratic experiment.

Hopefully, the infinite possibilities the social media offers or the virtual civilization the internet presents would allow for a million flowers to bloom thereby letting a million intellectual mutinies to take place.

What is your take on the eminent intellectuals being

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criticized for returning their awards? Anytime anybody brings up Rajdeo Ranjan, Gauri Lankesh, Kalburgi or Govind Pansare, voices of BJP try to discuss Majrooh Sultanpuri. Post-2014, the killing of progressive secular thinkers, scholars, journalists and writers by persons allegedly connected to the right-wing religious outfit gives us a dark disturbing picture of what freedom of expression is going to look like if BJP continues to govern. Either the independent media players, digital players and news publishers are raided on ridiculous charges or journalists are simply shot down. The government sends the message that it's all-powerful, accountable to none and the henchmen are on the spree knowing they enjoy impunity under the law. Are there ways to protect journalists, at least from legal judicial harassment?

Over the past nine and a half years there has been a general disdain for civil liberties and an erosion of fundamental freedoms.

Even before the first general elections that took place in 1951, the first amendment to the Indian constitution was made to Article 19 undergirding it with reasonable restrictions. Are those restrictions really reasonable? is moot. The right to freedom of speech and expression requires a fundamental revisit because if freedom of speech and expression doesn’t include the right to offend then it’s hollow in both its essence and substance.

Journalists should start behaving like journalists. Sadly, the large media houses in this country have redefined the power equation between themselves and the government by the extreme supplication

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they have demonstrated in the past nine and a half years. When media houses rewrite the rules of the game to their own disadvantage, then obviously they will be treated the way they want them to be treated.

If the mainstream media had shown spine and stood up to the transgressions and arm twisting by the government, not only would they have earned the respect of the countrymen but would have gotten other institutions to willingly stand by them to protect them and their freedom. Thus the mainstream media has no one but itself to blame. It has incentivized the coercion which the government has used both creatively and skillfully.

Of the 187 internet shut downs recorded worldwide in 2022, 84 have taken place in India. Disrupting access, especially during political instability and protests is quashing dissent. Is India’s commitment to freedom of speech and expression under increasing scrutiny?

Internet shutdowns or the potential of the cyber civilization to be able to inflame tense situations is something that cannot be subject to a linear answer. Unfortunately in the troubled parts of the country social media rather than playing a salutary role more often than not plays an incendiary role. So when we juxtapose it against the imperative of maintaining law and order having to ensure calm and tranquility, internet shutdowns seem necessary though they aren’t desirable . Ultimately all freedoms have to be balanced against each other. While I may have the freedom of speech and expression, I must also be conscious and aware of the fact that my freedom ends where another person’s nose starts.

Raj Bhavans turning into BJP office extensions and misadventures of governors in every opposition ruled state is everyday news…

Journalists should start behaving like journalists. Sadly, the large media houses in this country have redefined the power equation between themselves and the government by the extreme supplication they have demonstrated in the past nine and a half years.

Condemn it as “Ignorantia juris non-excusat”! Temptations of post-retirement office do tell upon judicial independence, don’t they?

According to me the institution of governor requires constitutional protection. A governor should be given a fixed term. They should only be removable by a process of impeachment. If they are given the kind of insulation that is required such as those given to other constitutional functionaries, governors would be able to function more independently and not as extensions and instrumentalities of the central government. So therefore the entire structure of the role of a governor including the process of appointment requires a fundamental revisit.

What does 2024 look like?

Can we hope that the General Elections will not be dominated by the three Msmoney, machine and media?

The integrity of the EVMs was challenged way back in

1999 when they were introduced. In 2009, we heard loud voices that challenged the transparency of EVMs. While tech-friendly, major developed countries have switched over to paper ballots, isn’t it time our government introspected a bit about security, accuracy, reliability and verifiability of electronic elections?

I look forward to 2024 with hope. If you expect an answer in the political context, then I am not a psephologist. We must understand that democracy is too precious to be left to technology. That EVMs can be manipulated is not my opinion alone. Be it Prof Vora who raised the issue way back in 2017 or Mr Hari K Prasad, a voting system security researcher who was arrested in 2010 after demonstrating how an EVM could be manipulated or the citizens’ commission on elections, all of them are convinced about the fallibility or vulnerability

of the machines. We have enough reasons to go back to paper ballots.

An EVM is a machine which can be hacked, rigged, interdicted and played around with. More so, the paternalistic obsession of the Election Commission of India with the EVMs bemuses me. Like you mentioned, many developed countries that had once adopted EVMs have gone back to paper ballots to avoid apprehensions about them being interfered with. Hence the 2024 elections must be held on paper ballots.

Is there something that you think citizens should be doing to save India from further disintegration?

India is not disintegrating. It is a misnomer to suggest that India is disintegrating. Yes there are strains and stresses. All of us must work in harmony and in tandem, especially the government to ensure that the intrinsic unity amidst diversity, the civilizational strength of India is augmented or strengthened and not stratified

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FINANCE

Adv Sherry Samuel Oommen: This article is authored by Adv Sherry Samuel Oommen. Adv Oommen, who specializes in constitution, tax and corporate laws has also cleared the final exams of the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India. He has also completed his Masters Degree in Commerce, apart from obtaining a Post Graduate Diploma in Business and Corporate Laws from Symbiosis Pune. The views expressly are personal and should not be construed as a legal opinion.sherryoommen@nashcp.com.

Most Favoured Nation Has The Favour Gone?

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ax treaties have aided in the flow of capital across jurisdictions. Hence, the natural question – What is a treaty? A treaty represents an agreement between two independent countries. Whilst finalizing a tax treaty, the countries evaluate the benefits that a treaty would proffer in comparison with the tax foregone.

Moving on, the clause governing Most Favoured Nation (“MFN”) is unique in various ways in the context of interpretation of tax treaties.

The said clause ensures that a resident of the contracting state receives the same treatment that the other contracting state grants to a resident of the third state. Consequently, if a contracting state provides certain benefits to a resident of a third state, the other contracting state must receive the same treatment subject to

the satisfaction of extant conditions.

As a fortiori, the MFN Clause would essentially provide that if after the signature of a tax treaty/ Double Tax Avoidance Agreement (“DTAA”) with a particular state (say, India signs a treaty with Country A), the said state (ie, India) enters into a tax treaty with another contracting state (say, Country B) which is a member of the Organization for Economic and Development (“OECD”) which provides a beneficial treatment to the said third state (ie, Country B), the beneficial treatment accorded by India to the third state (ie, Country B) could be availed by a resident of Country A. This clause thereby ensures that tax payers are not disadvantaged owing to their residential status in a particular state.

1. What’s the controversy

about?

The key dispute that has culminated in the landmark decision in the case of Assessing Officer (International Taxation) Vs Nestle SA 2023 SCC Online SC 1372 was on whether the MFN Clause of a tax treaty could be invoked when the concerned third country was not a member of the OECD at the time of signing the related DTAA. A further question also involved the determination of whether it is mandatory to issue a notification in order to provide the beneficial tax treatment to the second country (ie, Country A) based on the treatment offered to a third country (ie, Country B).

2.The views of the Delhi High Court The Delhi High Court in the case of Concentrix Services Netherlands BV (2021) 434

In the case of Concentrix, the taxpayers contended that the lower rate of withholding tax of 5 percent applying the India-Slovenia tax treaty, though the India-Netherlands tax treaty provided for a rate of 10 percent.

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ITR 516 held that the lower rate of 5 percent as provided for in the tax treaty between India-Slovenia could be read and applied in the context of the India-Netherlands tax treaty in view of the MFN Clause. For ease of reference, the relevant clause (ie, Clause IV(2) of the Protocol to the India- Netherlands DTAA) that formed the bone of the contention before the Hon’ble Delhi High Court is extracted below: "2. If after the signature of this convention under any Convention or Agreement between India and a third State which is a member of the OECD India should limit its taxation at source on dividends, interests, royalties, fees for technical services or payments for the use of equipment to a rate lower or a scope more restricted than the rate or scope provided for in this Convention on the said items of income, then as from the date on which the relevant Indian Convention or Agreement enters into force the same rate or scope as provided for in that Convention or Agreement on the said items of income shall also apply under this Convention."

In the case of Concentrix, the taxpayers contended that the lower rate of withholding tax of 5 percent applying the India-Slovenia tax treaty, though the India-Netherlands tax treaty provided for a rate of 10 percent. Court upheld the invocation of the India-Slovenia tax treaty which came into force with effect on 17.02.2005 though it become a member of OECD with effect from 21.07.2010.

The High Court held that the word “is” as mentioned in the relevant part of clause IV (2) in the context of the aforementioned third States with which India has entered into a tax treaty after the execution of the India-Netherlands tax treaty describes the state of affairs that should exist not necessarily at the time when the India-Netherlands tax treaty was executed but when a request is made by the taxpayer or deductee seeking for a particular relief applying the MFN Clause.

The High Court whilst applying the principle of “Common Interpretation” took cognizance of a Decree dated 28.02.2012 issued by the Kingdom of Netherlands, which was pub-

lished on 13.03.2012. In the said decree, the Netherlands interpreted the clause IV (2) of the Protocol appended with subject Tax Treaty in a manner that the lower rate of tax in the India-Slovenia Tax Treaty will be applicable on the date when Slovenia became a member of the OECD i.e., from 21.07.2010, although, such tax treaty came into force on February 17, 2005. Therefore, the Decree stated that the participation dividend paid by a company resident in the Netherlands to a person resident in India will bear lower withholding rate of 5 percent having regard to the India-Slovenia tax treaty. On the basis of the Decree, the Hon’ble High Court held as follows, which merits consideration: “17.8 This principle of Common Interpretation is also recognized in private international law with regard to conflict rules. The purpose, it appears, as indicated above, is to allocate tax claims equally between the contracting States. The Courts of the contracting States are, thus, required to ensure that Conventions/ DTAAs are applied efficiently and fairly so that there is consistency in

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FINANCE

The judgment of the Hon’ble Supreme Court has substantially altered one’s thinking on the interpretation of tax treaties. Newspaper reports now appear to be suggesting that this judgment of the Hon’ble Supreme Court would require MNCs to cough up around INR 11,000 crores by way of taxes, retrospectively.

the interpretation of the provisions by the tax authority and courts of the concerned contracting State.

17.9 Having said so, the common interpretation if adopted [whether it concerns a tax authority or a foreign court] should be applied with care and caution having regard to the fact that the view expressed could be unique and/or personal to the tax authority or a Court. An attempt should be made to choose a view that

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finds general acceptance with Courts and authorities….

19. However, the case before us is one where the other contracting State, i.e., the Netherlands has interpreted clause IV (2) in a particular way and therefore in our opinion, in the fitness of things, the principle of common interpretation should apply on all fours to ensure consistency and equal allocation of tax claims between the contracting States.

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19.1 Thus, we are not impressed with the argument advanced on behalf of the revenue that since Slovenia, Lithuania, and Columbia became members of the OECD, not only after the subject DTAA came into force but also after their own DTAA came into force, and therefore, lower rate of withholding tax, i.e., 5% on dividends would not apply to recipients in the Netherlands, who are otherwise covered under the

subject DTAA - as that is not how the other contracting State, i.e., the Netherlands has interpreted clause IV (2) of the protocol appended to the subject DTAA.”

3. The dictum of the Apex Court The Hon’ble Supreme Court whilst reversing the judgment of the Hon’ble Delhi High Court held that the MFN clause can be invoked subject to it being specifically notified under Section 90(1) of the Incometax Act, 1961 (“the Act”).

Further, the fact that a stipulation in a DTAA or a Protocol with one nation, requires same treatment in respect to a matter covered by its terms, subsequent to its being entered into when another nation (which is member of a multilateral organization such as OECD), is given better treatment, does not automatically lead to integration of such term extending the same benefit in regard to a matter covered in the DTAA of the first nation, which entered into DTAA with India. In such an event, the Supreme Court held that the terms of the earlier DTAA require to be amended through a separate notification under Section 90 of the Act. In the context of interpreta-

tion of the expression “is”, the Hon’ble Supreme Court held that for a party to claim benefit of a “same treatment” clause, based on entry of DTAA between India and another state which is member of OECD, the relevant date is entering into treaty with India, and not a later date, when, after entering into DTAA with India, such country becomes an OECD member, in terms of India's practice.

4. Parting thoughts The judgment of the Hon’ble Supreme Court has substantially altered one’s thinking on the interpretation of tax treaties. Newspaper reports now appear to be suggesting that this judgment of the Hon’ble Supreme Court would require MNCs to cough up around INR 11,000 crores by way of taxes, retrospectively.

The judgment also throws light on significant principles of interpretation of Article 253 of the Constitution of India viewed in the context of interpretation of tax treaties which include the following: i. The terms of a treaty ratified by the Union do not ipso facto acquire enforceability; ii. The Union has exclusive executive power to enter into inter-

national treaties and conventions under Article 73 [read with corresponding Entries - Nos. 10, 13 and 14 of List I of the 7th Schedule to the Constitution of India] and Parliament, holds the exclusive power to legislate upon such conventions or treaties. iii. Parliament can refuse to perform or give effect to such treaties.

In such event, though such treaties bind the Union, vis a vis the other contracting state(s), leaving the Union in default. iv. The application of such treaties is binding upon the Union. Yet, they “are not by their own force binding upon Indian nationals”. v. Law-making by Parliament in respect of such treaties is required if the treaty or agreement restricts or affects the rights of citizens or others or modifies the law of India. vi. If citizens' rights or others’ rights are not unaffected, or the laws of India are not modified, no legislative measure is necessary to give effect to treaties. vii. In the event of any ambiguity in the provision or law, which brings into force the treaty or obligation, the court is entitled to look into the international instrument, to clear the ambiguity or seek clarity

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HEALTH & FITNESS

Rajiv Ambat

Lifestyle Disorders Coach & Founder - NuvoVivo About NuvoVivo (www.nuvovivo.com) Rajiv Ambat is the CEO of NuvoVivo, an online health & fitness company that is into medical fitness. He is a well-known speaker and author of the best-selling book - ‘The Midriff Crisis’ and lifestyle expert. Under the guidance of Mr Rajiv, his team at NuvoVivo help their clients manage/reverse lifestyle diseases like diabetes, cholesterol, fatty liver, uric acid, hypertension, PCOS, thyroid disorders, etc.

5 Steps to Reverse

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Diabetes

s the calendar inches closer to November 14th, the world braces itself to observe World Diabetes Day—a very important day among the medical community, aimed at raising awareness about a health challenge that has stealthily entrenched itself in the lives of millions. Diabetes, often described as a slow poison, has emerged as a growing menace on the global stage.

Nowhere is this challenge more palpable than in India, a country fast earning the dubious distinction of being the diabetes capital of the world.

Various studies indicate that approximately 10-12% of India's population grapples with this metabolic disorder. An intriguing yet concerning revelation is that Kerala, renowned as one of the most literate

states in our country, has a diabetic prevalence that is double the national average. This striking statistic reaffirms the fact that lack of knowledge about managing this disease is NOT an issue. In my opinion, almost every Malayalee who is diabetic knows that one should reduce sugar, increase fiber and protein, and exercise to manage diabetes. Despite this awareness, diabetes continues to be a growing menace. This statistic exposes a systemic gap in the implementation of strategies for managing and reversing diabetes.

The two main types of diabetes are Type 1 and Type 2 diabetes. Type 1 diabetes occurs when the immune system mistakenly attacks and destroys the insulin-producing cells in the pancreas, leading to insufficient insulin production. Type 2 diabetes is characterized by insulin resist-

ance, where the body's cells do not respond effectively to insulin. Type 2 diabetes is the most common type and is often associated with lifestyle factors such as unhealthy diet and lack of physical activity.

Here are the five essential steps to manage and reverse type 2 diabetes -

1. Eat Smart A diet that is low in Glycemic Index is suggested for a diabetic person. The glycemic index (GI) assesses how swiftly a food impacts blood sugar levels. A low-glycemic food, that is high in fiber will take a lot more time to be released as glucose into the blood. This way, the blood glucose levels do not rise quickly, giving more time for our body to absorb the glucose from the blood. Low-GI foods, such as legumes, non-starchy vegetables, and whole grains, are

A regular and sufficient sleep routine is a proactive measure in preparing the body against the complications posed by diabetes.

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November - December 2023

hence beneficial for a diabetic person. But, eating smart is a lot more than merely reducing carbs and increasing protein and fiber.

Before adopting the seemingly simple strategy of adjusting carb intake and boosting protein and fiber, consider a thorough examination of factors like creatinine levels, uric acid and urine albumin. This nuanced approach ensures that the dietary adjustments align with individual health parameters, suiting a personalized and effective approach. In short, eating smart requires being Scientific.

Secondly, eating smart should involve a Sensible approach. For example, while brown bread might be a better option than white bread, the key lies in what you combine it with. A white bread accompanied by sautéed veggies and a protein portion like shredded chicken or eggs may be a far better option than brown bread combined with sugary jam.

Finally, eating smart is also about making Sustainable food choices and fostering a healthy relationship with food. A diabetesfriendly diet doesn't mean resigning to bland meals and relinquishing the occasional joys of life. It's about learning to relish the diversity of flavors while making mindful choices that contribute to overall well-being. One should learn to eat the normal food made at home that fits the cultural eating habits, yet manage the blood sugar levels.

2. Move More While altering one's diet is a crucial aspect of the overall lifestyle change, dietary adjustment only achieves diabetes management and not reversal. This is because dietary change is all about slowing down the release of glucose into the bloodstream and thus giving more time for the body to manage the glucose.

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HEALTH & FITNESS

Lifestyle interventions continue to be an important aspect of diabetes management irrespective of it being type 1 or type 2.

Note that the body continues to be insulin-resistant and is inefficient in absorbing glucose. Diabetes reversal is when we make the body more efficient in absorbing the glucose and that happens only with exercise.

Weight training exercises, in particular, are helpful for diabetic reversal as it improves the ability of muscles to absorb and store more glucose in the form of glycogen.

This enhancement directly impacts insulin sensitivity, contributing significantly to the potential reversal of diabetes. Exercise also increases the number of channels (GLUT4) through which glucose is absorbed into muscle cells.

However, a crucial caveat exists - exercise regimens should be tailored to individual health and physical conditions. Considerations like hernias or piles warrant caution, especially when engaging in weight training. It's vital to acknowledge that walking unless for the geriatric population, should not be solely classified as exercise. The principle here is straightforward: the easier an exercise, the less impactful it becomes. Walking is definitely helpful for overall health and well-being but remember - walking is an activity, not an exercise. Understanding these nuances is important for better management of diabetes.

3. Sleep Well Quality sleep is a fundamental pillar in the holistic management of diabetes. Many studies have consistently revealed the impact of sleep duration and quality on insulin sensitivity. Adequate and restful sleep directly influences hormonal balance, particularly the hormones that

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regulate appetite and stress. Sleep deprivation disrupts the delicate equilibrium, leading to an increase in stress hormones like cortisol and a decrease in insulin sensitivity.

The significance of sleep extends beyond insulin sensitivity as it impacts broader aspects of diabetes management, including weight control and overall well-being. Sleep deficiency disrupts the body's hunger-regulating hormones leptin and ghrelin, resulting in increased cravings for high-calorie, sugary foods. A regular and sufficient sleep routine is a proactive measure in preparing the body against the complications posed by diabetes.

4. Manage Stress In today's fast-paced world, the pressures from work and daily life create a stressful environment that affects both mental well-being and physical health. This stress, beyond being mentally taxing, triggers a physiological response that disrupts the regulation of blood sugar levels.

Chronic stress, a prevalent aspect of modern living, releases hormones like cortisol and adrenaline, leading to insulin resistance. This resistance hampers the body's ability to use insulin effectively, resulting in elevated blood sugar levels. Stress also compounds the challenges and complications of diabetes by contributing to increased blood pressure and hypertension. Breathing exercises, yoga, and meditation are helpful to manage such stress and maintain a physiological balance of hormones.

5. Medicines as Necessary Diabetes, if left unmanaged, poses a substantial threat to vari-

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ous organs, including the kidneys, nerves, and eyes; the damages thus incurred are irreversible. Type 2 diabetes happens because of unhealthy lifestyle factors, and hence the initial line of defense should be a proactive lifestyle change. Relying solely on medications without addressing the root causes through lifestyle modifications is not a smart approach.

However, it's crucial to acknowledge that lifestyle interventions might not be exhaustive in achieving optimal blood sugar levels for everyone. In such cases, therapeutic management through medications becomes a necessary aspect along with lifestyle changes. The choice of medications is decided by your endocrinologist based on the specific needs, chronicity of the condition and responses of the individual.

Maintaining open communication with a medical doctor and a lifestyle expert is extremely important. Self-medication and regulating medicine dosages without a doctor's advice is dangerous and may even lead to life-threatening complications.

In short, effective management of diabetes is multifaceted, with lifestyle modifications as Plan A and therapeutic interventions as Plan B (if Plan A is not 100% successful in containing the blood glucose levels).

This comprehensive approach not only helps in achieving optimal blood sugar control but also mitigates the risks of complications.

Complications of Diabetes Unmanaged diabetes poses grave dangers - kidney failure (diabetic nephropathy), nerve damage (diabetic neuropathy), vision impairment

(diabetic retinopathy), and cardiovascular issues are all major complications of uncontrolled diabetes.

Regular medical supervision, routine check-ups, and a holistic approach to lifestyle modifications and medications are important in mitigating the dangers associated with diabetes.

Routine Health Checks People with diabetes should undergo regular tests to monitor their health and manage the condition effectively. Common tests for diabetes management include the HbA1c test which measures the average blood sugar levels over the last 3 months, the lipid profile which measures the cholesterol levels to assess cardiovascular health and blood pressure, the kidney function test that includes creatinine and glomerular filtration rate (GFR) to monitor kidney health and regular eye exams to check for diabetic retinopathy.

Apart from these, it is also suggest-

ed to monitor liver health through liver function tests and perform routine cardiac assessments, especially if you are 40 years of age or above.

Focusing solely on fasting blood sugar (FBS) tests might not always provide an accurate gauge of overall blood sugar control. Based on my experience, some clients tend to consciously or subconsciously modify their eating habits the day before an FBS test - eating on time and much less carbs and calorie intake, potentially masking the chronicity of their condition.

HbA1c, which reflects the average blood sugar levels over the past 3 months, is a more dependable assessment and comprehensive indicator of long-term glycemic management.

Is Diabetes Reversible?

Before I answer with a YES or a NO, let me explain what is my definition of diabetic reversal! If a person can improve his body's abil-

ity to manage blood glucose levels, that is diabetic reversal. How far can a person improve this insulin sensitivity and reverse diabetes?

That really depends - depends on age, how long has the person been diabetic, associated comorbidities and even genetics. However, a lifestyle change that involves a proper nutrition plan, exercises, sleep and stress management can surely bring improvements in insulin sensitivity in the case of type 2 diabetes.

For example, if such a lifestyle change can bring forth a 25% improvement in insulin sensitivity, it can be considered as a 25% reversal and your doctor may even reduce the medicines.

Type 1 diabetes, however, will require lifelong insulin management. That said, lifestyle interventions continue to be an important aspect of diabetes management irrespective of it being type 1 or type 2

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MOTIVATION

Dolly Maria

Your life should be based on a purpose, with which it would be even more easier and meaningful to follow.

Having a purpose instills the passion to strive more at what you do. You can also adjoin the purpose to a higher cause which will help humanity at large.

Dolly Maria is founder of THE IGNIST, a training company born out of a noble cause and spirit.

She holds a decade long experience being a passionate mentor and entrepreneur.

PASSION IS THE GENESIS OF GENIUS!

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o what you love, and you’ll never work another day of your life.” We have been programmed all these decades to work harder inorder to achieve things and goals, and we were asked to be more emotionless and tougher at it. This mindset has somehow made us oblivious to understanding and feeling the love and passion we need to have for the work we do. Passion for something always propels us miles ahead into the game of achievement. When you are happier at your workplace, you tend to be more productive and result-oriented. And all the more life is too short not to pursue your dreams

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and to waste time doing something that you don’t love. It is your choice to figure out what’s more important to you.

‘Work without love is slavery.’

Sometimes in life, we end up doing things we don't love to do. It could be the internal conflicts, external situations, circumstances or even people that may force us to choose something against our tastes. Infact, it really feels good to love what you do. There are innate abilities, inclinations, skills and talents in us, which if we identify, recognise and nurture, it grows to an enormous level of potential in life. To identify what you love eventually and to have courage to pursue indeed should be

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your substantial objective. Finding it doesn’t come without effort. Also, you might want to experiment with it for some time inorder to make sure you can be consistently stable loving it. There are two sides to it – at times when you start your life figuring things out, you might not really know which path to take and what you really love. So it comes to a point where you have to ‘love what you do’ inorder to eventually reach the end goal of ‘do what you love’. ‘Loving what you do’ is also as important, because you will be able to blend commitment, dedication, gratification, consistent performance improvement, self-motivation and assured results into your chores then.

In case you are forced to continue something on a daily basis without your mental consent, it becomes really difficult to motivate yourself to attain the best. When you are comfortable with what you are doing at work, you're open to receiving and accepting new ideas, opportunities, changes and innovations. You are then being more prone to bring in new creativity and development at what you do. On the contrary, when you do not love what you do, it becomes more of a monotonous chore that gradually becomes tedious and dreary. To coin new ideas and creativity, the job should stimulate you.

Finding a job that makes you wanna literally jump out of your bed every

morning, wanting to be on the field to do what you really want to do, and to dream while you are awake always, is one blissful experience to be in. This feeling keeps you excited and grateful all day long. One of the main aspects to this is "understanding the purpose". Your life should be based on a purpose, with which it would be even more easier and meaningful to follow. Having a purpose instills the passion to strive more at what you do. You can also adjoin the purpose to a higher cause which will help humanity at large.

There is yet another interesting way of looking at this concept – They say IF you love what you do, that means that you can very well

DO it. Beyond your logic and current memory, your body and mind know what comes more innate and natural to you. So if you feel a natural inclination and pull towards a dream, that means that it is definitely meant for you, and that you are very well "capable" of doing that.

To elaborate more on this, there are some vocations or businesses that we will automatically be superb with and succeed with less effort than the rest. You won't feel much resistance, defence or uncomfortability in doing those compared to the other monotonous ones. Working towards it, identifying those and becoming better at those can be one goal you can set now. It is always good to build a

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MOTIVATION

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The level of creativity that will fuel up your mind to full throttle when you find your passion and follow it, is another ethereal realm to experience. related network around you for help. It can be your peers, childhood friends, family or another like-minded connection. Two heads are always better than one. Building a winning team can take us that extra mile towards success.

However, to identify and recognise what is your personal purpose and call, is your individual discernment and the onus is on you to arrive at that responsibility.

Having a positive attitude is pertinent to being able to succeed in anything that you do. The way you look at things can greatly impact how it reacts to you. They say, you see what you want to see. Hence if you are able to see your love and passion in what you do, the determination and grit you'll be able to invest in it will be colossally larger to help you to be in the 'flow state'. It can greatly influence your mental health in a much positive way. Remind yourself to add on some extra helping habits like reading inspirational biographies, quotes, keeping a daily journal on your progress and improvements, enjoying rewards for each milestone achievement, taking enough me-time for breaks, meditate and pray for superior contentment, traveling or exploring new hobbies that keeps you enthused throughout. When you love what you do, it feels like you are not really 'working' on a daily chore, but indulging in what you really want to create.

The level of creativity that will fuel up your mind to full throttle when you find your passion and follow it, is another ethereal realm to experience. Once you’ve had a taste of it, then you will never back off from pursuing your love no matter whatever challenges or temptations that comes as hindrance against it. It comes to a point where it is never about money anymore. Money and other material benefits definitely will be added on as a by-product, when you are a connoisseur at what you do. When you are excellent at your work, you will definitely have ardent admirers who come demanding for your products and services. You will feel more fulfilled in your personal and professional life.

You’ll be propelled enthusiastically to learn new things, do less of procrastinating, help elevate your energy and thought-provoking environments will add quality into your life. So, if you love doing something, know that you can certainly do it, with ease - Passion is the genesis of genius!

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GADGETS

Xiaomi 14 Pro

Rs . 56,890 (approximately)

Android v14

6.73 inches (17.09 cm) Display

50 MP + 50 MP + 50 MP

Primary Cameras

32 MP Front Camera

12 GB RAM

256 GBInternal Memory

4880 mAh Battery Capacity

OPPO A2 Pro

Rs. 20,890 (approximately) Android v13 6.7 inches (17.02 cm) Display 64 MP + 2 MP Primary Cameras 8 MP Front Camera 8 GB RAM 256 GB Internal Memory 5000 mAh Battery Capacity

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November - December 2023

Nubia Redmagic 8s Pro

Rs. 45,390 (approximately) Android v13 6.8 inches (17.27 cm) Display 50 MP + 8 MP + 2 MP

Primary Cameras 16 MP Front Camera 8 GB RAM 128 GB Internal Memory 6000 mAh Battery Capacity

vivo S17

Rs. 29,060 (approximately) Android v13 6.78 inches (17.22 cm) Display 50 MP + 8 MP Primary Cameras 50 MP Front Camera 8 GB RAM 256 GB Internal Memory 4600 mAh Battery Capacity

November - December 2023

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BEAUTY

Gourd-geous Skin and Luscious Locks: Pumpkin's Magic Touch

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s the leaves change and autumn approaches, the pumpkin takes center stage. Known for its delicious pies and festive decorations, this vibrant orange vegetable also offers a plethora of beauty benefits for your hair and skin. From pumpkin-based skincare products to DIY treatments, the beauty world is embracing the power of pumpkin like never before. In this article, we'll explore the wonderful beauty benefits of pumpkin and how you can harness its magic for a radiant, autumn-inspired look.

Pumpkin's Nutrient-Rich Profile Pumpkin is more than just a seasonal decoration; it's a nutrient powerhouse. Rich in vitamins, minerals, and antioxidants, this fall favorite can help revitalize and rejuvenate your hair and skin. Here's a closer look at the key components that make pumpkin a beauty

Dr. Elizabath Chacko, MD-Kalpana International

booster: 1. Vitamin A: Pumpkin is packed with vitamin A, which promotes healthy skin cell production, helping you achieve a radiant complexion. It also aids in the repair of damaged skin and supports natural hair growth.

2. Vitamin C: This vitamin is known for its ability to brighten the skin and reduce the appearance of dark spots and fine lines. Vitamin C also promotes collagen production, keeping your skin looking youthful and firm.

3. Beta-Carotene: Responsible for the pumpkin's vibrant orange color, beta-carotene is a powerful antioxidant that helps protect your skin from sun damage and can contribute to a healthy glow.

4. Vitamin E: Vitamin E is an excellent moisturizer, reducing dryness and promoting hair and skin health. It also protects against UV damage and pollution.

5. Zinc: Zinc promotes skin healing, reduces inflammation, and helps control oil production, making it great for acne-prone skin.

Pumpkin for Skin

Mob: 9388618112

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1. Exfoliation: Pumpkin contains natural enzymes that can gently exfoliate your skin, leaving it smoother and brighter. DIY pumpkin masks or store-bought products of-

ten harness this exfoliating power.

2. Hydration: The vitamin E in pumpkin hydrates and nourishes the skin, preventing dryness and flakiness.

3. Anti-Aging: The combination of vitamins A, C, and E, along with beta-carotene, provides powerful anti-aging benefits by reducing the appearance of wrinkles, fine lines, and dark spots.

4. Acne Control: Zinc in pumpkin can help control oil production, making it beneficial for those with acne-prone skin.

Pumpkin for Hair 1. Hair Growth: The vitamins and minerals in pumpkin promote hair growth by nourishing the hair follicles and strengthening

the hair shaft.

2. Moisture: Pumpkin-based hair masks or conditioners can add moisture and shine to dry, damaged hair.

3. Dandruff Control: Pumpkin's zinc content can also help with dandruff control, soothing an itchy, flaky scalp.

DIY Pumpkin Beauty Treatments 1. Pumpkin Face Mask: Mix pumpkin puree with honey and a touch of cinnamon for a nourishing and gently exfoliating mask.

Leave it on for 15-20 minutes, then rinse for a brighter, smoother complexion.

2. Pumpkin Hair Mask: Blend pumpkin puree with yogurt

or coconut oil for a deeply moisturizing hair mask. Apply to your hair, leave it for 30 minutes, and then shampoo and condition as usual.

Embrace the beauty benefits of pumpkin this autumn and revel in the glow of healthier skin and hair.

With its rich nutrient profile and versatile applications, pumpkin can become your beauty secret for the season. Whether you're enjoying pumpkin spice lattes, carving jack-o'-lanterns, or experimenting with homemade pumpkin treatments, let this seasonal superstar transform your beauty routine.

Your skin and hair will thank you for it, and you'll look fabulous as the leaves fall and the air turns crisp

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TRAVELOGUE

From exploring archaeological marvels to indulging in the sensory wonders of local markets, Oaxaca beckons with a myriad of activities that promise to leave an indelible mark on your journey.

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Oaxaca Unveiled:

A Journey through Mexico's Cultural Gem

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estled in the heart of Mexico, Oaxaca is a treasure trove of culture, history, and natural beauty waiting to be discovered. This enchanting state, with its colonial charm and vibrant indigenous traditions, offers a captivating experience for travelers of all kinds.

From its lively markets and ancient ruins to its delectable cuisine, Oaxaca has something to offer every visitor. In this Edition, we'll take you

on a journey through Oaxaca, sharing insights on the best time to visit, top activities, and unique culinary delights that will leave your taste buds craving for more.

Things to Do in Oaxaca: From exploring archaeological marvels to indulging in the sensory wonders of local markets, Oaxaca beckons with a myriad of activities that promise to leave an indelible mark on your journey. With each step, you'll uncover the stories

etched into the city's architectural marvels, savor the vibrant flavors that define its culinary identity, and immerse yourself in the natural beauty that has inspired generations.

Let us delve into the quintessential experiences awaiting you in this enchanting Mexican gem, promising a harmonious blend of cultural immersion and unforgettable adventures.

1. Explore Monte Albán: Step into the ancient world at Mon-

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TRAVELOGUE

te Albán, the historic Zapotec city.

Marvel at the imposing pyramids, walk along the ceremonial plazas, and uncover the intricate tombs that provide a fascinating insight into the region's rich cultural heritage. Let the awe-inspiring ruins transport you back in time, allowing you to appreciate the architectural ingenuity and historical significance of this UNESCO World Heritage Site.

2. Wander Oaxaca City: Lose yourself in the captivating streets of Oaxaca City, where colonial charm meets contemporary vibrancy. Admire the ornate Santo Domingo Church, a testament to the city's architectural grandeur, and soak up the lively atmosphere of the Zócalo square, where street

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performers and local vendors contribute to the vibrant ambiance.

Stroll through the historic center, taking in the intricate details of the well-preserved buildings, and allow yourself to be immersed in the palpable energy of this cultural hub.

3. Immerse in Local Markets: Immerse yourself in the bustling ambiance of Oaxaca's local markets, where a tapestry of colors, scents, and sounds comes together to create an unforgettable sensory experience. At Mercado Benito Juárez and Mercado 20 de Noviembre, sample an array of authentic Oaxacan delicacies, from aromatic tamales to savory empanadas. Engage with local artisans, perusing through hand-

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crafted textiles, ceramics, and traditional artwork, allowing yourself to be captivated by the intricate craftsmanship and cultural narratives embedded in each piece.

4. Experience Natural Wonders: Immerse yourself in Oaxaca's diverse natural landscapes, each offering a unique and unforgettable adventure. Discover the otherworldly beauty of Hierve el Agua, where petrified waterfalls create a mesmerizing spectacle against the rugged terrain. Embark on a trek through the majestic Sierra Norte mountains, traversing lush forests and rugged trails that reveal breathtaking panoramic views. Alternatively, unwind on the pristine shores of the Pacific Coast, basking in the

sun and relishing the tranquility of the azure waters that stretch as far as the eye can see.

5. Embrace Art and Culture: Delve into Oaxaca's vibrant art and cultural scene, where creativity thrives and traditional craftsmanship is celebrated. Explore the Museo de las Culturas de Oaxaca, where an extensive collection of indigenous art and historical artifacts provides a comprehensive overview of the region's rich cultural legacy. Engage with local artisans in Teotitlán del Valle, known for their intricate textile work, and witness the meticulous process of crafting vibrant rugs and tapestries that reflect centuries of indigenous artistry and storytelling. Immerse

yourself in the lively spirit of local art festivals and events that showcase the dynamic fusion of contemporary and traditional artistic expressions, leaving you with a profound appreciation for Oaxaca's enduring cultural heritage.

Unique Cuisines: A Culinary Exploration of Oaxaca Embark on a culinary odyssey through Oaxaca, where a symphony of flavors awaits: • Mole: Indulge in the rich, velvety notes of Mole Negro, a signature dish representing the complexity and depth of Oaxacan cuisine.

• Tlayudas: Explore the tantalizing world of Tlayudas, savoring the crisp texture of the tortil-

las topped with a medley of beans, cheese, and savory meats, creating a delightful fusion of Mexican and Mediterranean influences.

• Chapulines: For the adventurous palate, dare to sample the local delicacy of Chapulines, as the roasted grasshoppers seasoned with chili and lime offer a surprising and unforgettable gastronomic experience.

• Mezcal: Unearth the smoky nuances of Mezcal, Oaxaca's famed traditional Mexican spirit, in a visit to a local distillery, where the ancient craft of distillation meets modern innovation.

• Street Food: Immerse yourself in the vibrant tapestry of Oaxaca's street food scene, where the air is filled with the aromas of

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TRAVELOGUE

sizzling meats, warm tortillas, and the laughter of locals, inviting you to partake in an authentic and immersive culinary journey.

Languages and Local Traditions: A Tapestry of Cultural Diversity Oaxaca's cultural richness is reflected not only in its vibrant festivities and culinary heritage but also in its diverse linguistic landscape.

While Spanish serves as the official language, the region boasts a tapestry of indigenous languages that embody the deep-rooted heritage of various communities. Zapotec and Mixtec are two prominent indigenous languages spoken by many

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in Oaxaca, each carrying its unique history and cultural nuances that contribute to the region's rich cultural tapestry.

In the heart of local communities, the preservation of ancient languages is intertwined with traditional practices, folklore, and storytelling, serving as a bridge between the past and the present. As you venture through Oaxaca, you may encounter the melodic cadence of these indigenous languages, adding a layer of authenticity to your cultural immersion. Despite the linguistic diversity, many in the tourist-centric areas also possess some proficiency in English, facilitating

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communication and fostering a warm and welcoming environment for visitors from all corners of the globe.

A Lasting Impression of Oaxaca's Treasures As the journey through Oaxaca draws to a close, the memories of its natural wonders, culinary delights, and cultural immersion remain vivid and cherished. From the mystical allure of Hierve el Agua to the intricate craftsmanship of local artisans, Oaxaca captivates the heart and mind, inviting travelers to embrace its treasures and bask in the timeless charm that defines this Mexican cultural gem

AUTO REVIEW

BMW iX

Vivek Venugopal is one of India’s top automotive writers with over a decade’s experience in road-testing and reviewing cars.

He is currently the Editor of Quarter Mile magazine and a columnist in several leading magazines and newspapers. He is also a highly sought after consulting engineer and market analyst for many automobile manufacturers.

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B

MW as a brand is reinventing itself faster than everything else in its segment. Be it their styling, their interiors, the tech, or the new propulsion systems used - the brand has left no stone unturned in the last 2-3 years. And while the newer mainstream models have refined the changes, the BMW iX still looks and feels out of this world, just like the day when it arrived.

The iX is a big SUV, almost the size of an X5 and it looks imposing on the road. The styling is bound to split

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opinions, especially the large grille but that hides a lot of tech inside.

It houses the camera, radar, and other sensors behind a transparent outer layer. That transparent layer is actually a self-healing polyurethane coating which can automatically get rid of minor scratches overnight.

The iX is built on BMW's famous CLAR platform and has a carbon core which is visible in areas such as the door frame and the boot-lid area. The rest of it is high-strength steel and recycled aluminium.

The care for the environment

The care for the environment extends to the interiors where the carpets are made of recycled fishing nets, the wood is from sustainable sources and the leather is dyed using olive oils.

extends to the interiors where the carpets are made of recycled fishing nets, the wood is from sustainable sources and the leather is dyed using olive oils. The dashboard blends modern materials with lots of minimalism and is the blueprint for future BMW and Mini products. The fabric and leather surfaces feel more like they belong to a fancy lounge

than a car interior. There are tasteful wooden surfaces and metal trims inside with a bit of crystal elements for the iDrive controller and starter button. The hexagonal steering wheel looks odd but feels surprisingly comfortable to get used to. The twin screens and the familiar BMW interface make using the iX an easy affair. There are minimal buttons

but the controls are all easy to reach on the touchscreen.

The front seats are wide, adjust in a variety of ways and gets massage functions. The spacious rear seat has no transmission tunnel and is very comfy, save for the low position.

It also has speakers in the headrests for a more immersive audio experience. The cabin has a nice ambi-

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AUTO REVIEW

ance thanks to the large panoramic glass roof. It has another trick up its sleeve and can turn opaque at the touch of a button. The iX is loaded with four-zone climate control, an 18-speaker Harman Kardon audio system, soft close doors, a BMW reversing assistant, gesture control, etc. Boot space is 500 litres.

The iX uses a pair of motors with combined power of 326hp in this iX40 trim. The battery pack is a 76.6kWh unit using prismatic cells, sourced from Samsung and CATL, giving the iX a WLTP range of 425km and an ARAI-certified range of 446km. You can expect somewhere a real-world range of 350-380kms with this car. The battery can be charged from 0-100 percent in 7 hours using an 11kW AC wall box. A 0-80 percent charge

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can be done in 1 hour and 20 minutes using a 50kW DC charger.

Driving it, feels like a BMW. It feels agile and light which is even more surprising when you know the iX weights 2.4 tonnes. The steering though not very great on feel like old BMWs, is still very precise. The heavy battery pack makes it roll in corners, but the active anti-roll bars keep everything in check and there is good amount of grip. The suspension is double wishbone at the front and a five-link unit at the rear. The Indian car doesn’t get air suspension, but we get the nice variable damping from BMW as standard.

Ride quality is excellent and you don’t get jostled around like in most heavy SUVs that have stiffer springs to offset weight.

For the most part, the iX sends

November - December 2023

power only to the rear. Performance on the iX40 we get in India isn’t shatteringly quick and power builds up in a linear, progressive fashion. There is a strong surge as it picks up speed and goes.

0-100kmph takes a little over six seconds and top speed is around 200kmph.

The BMW iX goes up against the Mercedes EQE and Audi Q8 e-tron, two very capable electric SUVs, we have driven and liked.

But when those two look and feel modern, the iX feels like it’s from the future. It also drives better, is loaded with tech and feels very comfortable for a family SUV. While BMW loyalists see it as a big departure from the past, spending some time with an iX has confirmed that it’s a sign of good things to come

MOVIE REVIEW

Leo

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eo, also known as "Leo: Bloody Sweet," is a thrilling cinematic masterpiece that keeps you on the edge of your seat from start to finish. Vijay delivers a stellar performance in the titular role, and his charisma and action sequences are absolutely captivating. Director Lokesh Kanagaraj's vision comes to life in this action-packed Tamil-language film, which is a true testament to his storytelling prowess. The film's supporting cast, including Sanjay Dutt, Arjun, Trisha, and Gautham Vasudev Menon, add depth and intrigue to the plot. The storyline, inspired by "A History of Violence," is both thought-provoking and suspenseful, with unexpected twists that will leave you in awe. "Leo" is a must-watch for action enthusiasts and Vijay fans. It not only lives up to the expectations of being his 67th lead role but also sets a new standard for Indian cinema. It's a sweet blend of action, emotion, and intrigue that will leave you wanting more.

Ganapath

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anapath: A Hero is Born" is an exhilarating cinematic triumph that transports the audience into a gripping dystopian world of 2070. Vikas Bahl's visionary direction and compelling storytelling keep you on the edge of your seat from start to finish. Tiger Shroff's dynamic portrayal of both Guddu and Ganapath is nothing short of remarkable, showcasing his remarkable range as an actor. Amitabh Bachchan's presence lends an air of gravitas to the film, and Kriti Sanon adds depth with her strong character. The action sequences are heart-pounding and choreographed with precision. The film's post-apocalyptic setting is a visual marvel, and the striking cinematography immerses you in a dark and gritty world. With a powerful message of hope and resilience, "Ganapath" is a gripping tale of a hero's journey, and a mustwatch for action enthusiasts and dystopian fans. It's a resounding triumph that leaves you eagerly anticipating the next installment.

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Thank You for Coming

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hank You for Coming" is a delightful and refreshing addition to the world of Indian cinema. With a perfect blend of humor and a touch of sensuality, this sex comedy offers a unique and unapologetic take on love and desire.

Bhumi Pednekar shines in her role as Kanika Kapoor, portraying her character with charm and wit. Shehnaaz Gill, Dolly Singh, Kusha Kapila, and Shibani Bedi deliver fantastic performances, adding depth and humor to the story.

Director Karan Boolani's vision and the sharp writing by Radhika Anand and Prashasti Singh make this film a truly entertaining experience. It's a celebration of liberation and self-discovery, emphasizing the importance of embracing one's desires. "Thank You for Coming" is a bold and well-executed film that will leave you smiling and appreciating its unique take on love and pleasure. Don't miss this enjoyable ride that's sure to entertain and enlighten.

Mission Raniganj: The Great Bharat Rescue

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ission Raniganj: The Great Bharat Rescue" is an exhilarating and heartpounding cinematic masterpiece that pays homage to the incredible real-life hero, Jaswant Singh Gill. Akshay Kumar delivers a stellar performance as the brave mining engineer, capturing the essence of determination and resilience. Parineeti Chopra complements him beautifully, adding depth to the narrative. Tinu Suresh Desai's direction and Vipul K Rawal's script combine to create an emotionally charged rollercoaster that keeps you on the edge of your seat.

The film masterfully recreates the harrowing events of the Raniganj Coalfields collapse, offering a breathtakingly realistic portrayal of the rescue mission. "Mission Raniganj" not only showcases the power of human spirit and heroism but also serves as a reminder of the unsung heroes who selflessly risked their lives to save others. It's a must-watch, leaving audiences inspired and uplifted by the remarkable story it tells.

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BOOK REVIEW

The Leftover Woman Author Price

: Jean Kwok : `1,878 (Hardcover)

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ean Kwok's 'The Leftover Woman' is an emotionally charged exploration of motherhood, identity, and transracial adoption that keeps you engrossed from start to finish. Kwok's narrative beautifully weaves together the lives of Jasmine Yang and Rebecca Whitney, creating a compelling story that delves into their unique struggles and journeys. The novel's thrilling elements added an exciting layer to the plot, keeping me eagerly turning the pages. Kwok's portrayal of Jasmine's character was a standout, with depth and complexity that made her truly relatable. While some secondary characters may have lacked a bit of depth, the overall storytelling and the poignant themes overshadow any minor shortcomings.

'The Leftover Woman' is a gripping read, and Jean Kwok's exploration of these important issues is thought-provoking and impactful, making it a must-read for those who appreciate a blend of drama and suspense in their literature.

Let Us Descend Author Price

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: Jesmyn Ward : `1,912 (Hardcover)

et Us Descend is a breathtaking literary masterpiece that skillfully weaves elements of magical realism into a poignant narrative of resilience and reclamation. Jesmyn Ward's storytelling prowess shines as she takes us on a journey alongside Annis, a young Black girl forcibly marched South into the clutches of slavery. Ward's rich character development and evocative prose make Annis's inner strength and unwavering connection to her African heritage powerfully tangible. The infusion of spirits, both benevolent and malevolent, adds a captivating and thought-provoking dimension to the story. "Let Us Descend" is a powerful reminder of the indomitable spirit of the human soul, the importance of cultural heritage, and the enduring power of hope even in the darkest of times. Ward's unique blend of history, magic, and reclamation makes this novel an absolute must-read, leaving readers with a profound sense of hope and resilience in the face of adversity.

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For trade enquires: +91 9288800999 www.dqueworld.com

BOOK REVIEW

My Darling Girl Author Price

: Jennifer McMahon : `2,005 (Hardcover)

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y Darling Girl by Jennifer McMahon is an enthralling and gripping read that keeps you on the edge of the seat from start to finish. This atmospheric slow-burn horror story is a testament to McMahon's storytelling prowess. The narrative expertly weaves together the complex dynamics of a strained mother-daughter relationship with elements of suspense and the supernatural. Alison's journey to repair her damaged relationship with her terminally ill mother takes a dark and unexpected turn, as she begins to suspect a malevolent force at play. As the story unfolds, you'll find yourself drawn into a thrilling cat-and-mouse psychological game that keeps you guessing until the very end. McMahon's writing is both haunting and evocative, creating a sense of unease that lingers long after you've put the book down. "My Darling Girl" is a masterful exploration of family, redemption, and the darkness that can reside within us all, making it a must-read for anyone who enjoys a spine-tingling, thought-provoking tale.

What We Kept to Ourselves Author Price

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: Nancy Jooyoun Kim : `1,816 (Hardcover)

ancy Jooyoun Kim's 'What We Kept to Ourselves' is an emotionally gripping and brilliantly crafted novel that explores the complexities of family, identity, and the secrets that bind us together. Kim's vivid storytelling takes us on a journey through time and cultural landscapes, immersing us in the lives of the Kim family. The characters are deeply relatable, and the narrative skillfully weaves between past and present, keeping readers engaged and eager to uncover the mysteries that lie at the heart of this multi-generational tale. Kim's prose is both poignant and thought-provoking, allowing us to reflect on the universal themes of love, loss, and the power of connection. With a perfect blend of mystery and familial drama, 'What We Kept to Ourselves' is a testament to Kim's storytelling prowess. It's a compelling page-turner that will resonate with readers long after the final page. A must-read for anyone who appreciates beautifully written, emotionally resonant literature.

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Printed On 09/ 11/ 2023

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