FM Nirmala Sitharaman’s Interim Budget 2024 excluded any update on crypto regulations and taxes. This, while India continues to work alongside the G20 nations to formulate global regulatory framework on cryptocurrency and blockchain. 

The Indian government has been going back and forth with the Indian crypto industry in the past few months to meet some of their demands. 

The crypto industry too didn’t have hopes from this year’s budget considering it is an interim budget, ahead the upcoming elections. In their recommendations, the industry body Bharat Web 3 Association (BWA) asked for regulatory tightening of offshore exchanges, and represented its demand for rationalisation of taxes.

As per reports, BWA said that India leads in grassroots crypto adoption in the world and is the second largest market in terms of transaction volumes in 2023. 

Interim Budget 2024: FM Nirmala Sitharaman excludes update of crypto regulations and taxes

As per reports, BWA said that India leads in grassroots crypto adoption in the world and is the second largest market in terms of transaction volumes in 2023.

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Representational image via Unsplash

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Virat Kohli is a name that resonates with cricket fans worldwide. From his audacious stroke play to his fiery on-field demeanor, Kohli has redefined the game with his sheer passion and commitment. However, Kohli’s is a story of controversy and confrontation, a narrative that has shaped his journey to greatness. Whether it's his heated exchanges with fellow cricketers or his outspoken nature off the field, controversies are no stranger to him. 

Clash with Gautam Gambhir: One of the most memorable incidents involving Virat Kohli occurred during the 2013 IPL match between Kolkata Knight Riders and Royal Challengers Bangalore. As the captain of RCB, Kohli engaged in a heated argument with Kolkata's skipper Gautam Gambhir, resulting in a tense standoff that was eventually diffused by umpires and players.

Middle Finger Incident: During his early days in international cricket, Kohli courted controversy during a tour to Australia when he was seen showing the middle finger to the Sydney crowd. Kohli later explained that his actions were in response to abusive language directed at his family, highlighting his fiercely protective nature off the field.


Outburst at Journalist: The 2015 Cricket World Cup saw Kohli embroiled in another controversy when he lashed out at a journalist whom he believed had written an unfavourable article about him and his then-girlfriend, now wife, Anushka Sharma. 

Umpiring Controversy: In a Test match against Australia in 2017, Kohli accused Australian captain Steve Smith of seeking illegal assistance from the dressing room for a review.


Sunil Gavaskar Controversy: During the 2020 IPL, Sunil Gavaskar made a comment about Kohli’s performance, suggesting that he only practiced batting during the lockdown with Anushka Sharma bowling to him. Sharma’s public response underscored the challenges of being a public figure in the age of social media scrutiny.


As Virat Kohli continues to etch his name in the annals of cricketing history, his journey serves as a reminder of the complexities of success. While controversies may have punctuated his career, they have also been a testament to his unwavering spirit and fierce determination. Kohli's story is not just about cricket; it's about resilience, passion, and the relentless pursuit of excellence. As he continues to push the boundaries of the game, Kohli remains a symbol of inspiration for aspiring cricketers and sports enthusiasts around the world. His legacy is not just in the runs he scores or the matches he wins, but in the indelible mark he leaves on the hearts of fans everywhere.


Virat Kohli: A brief history of controversies and confrontations

Microsoft owned LinkedIn was down for a brief period, impacting thousands of users on Wednesday after a brief outage.


According to outage tracking website Downdetector.com, there were 48,000 reports of outages related to LinkedIn in the US.


March 5 saw the global outage of social media platforms Facebook and Instagram. Following the outage, as per multiple reports, parent company Meta’s chief executive officer Mark Zuckerberg net worth declined by $ 2.79 billion, in a day, to hit $ 176 billion on the Bloomberg Billionaires Index.


However, he continued to maintain his position as the world’s fourth richest person.


The global outage of Meta-owned apps Facebook and Instagram sent users rushing to Twitter now known as X to check about the outage. The apps were not working for users across the globe who experienced problems with Meta's popular apps. #InstagramDown started trending.


Elon Musk, the owner of X (formerly known as Twitter) and Meta boss Mark Zuckerberg’s rival, shared a series of tweets about the outage stating, “we know why you’re all here now”.


Read More: <a href="https://www.storyboard18.com/digital/metas-facebook-instagram-down-for-thousands-of-users-worldwide-25534.htm">Elon Musk reacts to Instagram and Facebook outage</a>

After Facebook and Instagram, LinkedIn sees brief outage

Note to readers: Our latest column Marketing Mocktail breaks down and explains the big ideas, new disruptions and old concepts and marketing practices that matter in the modern age.


The creative brief is one of the most integral parts of advertising.


Yet, of late, briefs have become griefs - sterile and unimaginative.


We keep indulging in the over optimism of giving a bland brief and hoping for exciting creative work in return. Garbage-in, garbage-out.


Putting together a good brief is a dying art which needs to be revived.


From logic to magic


A brief is the inflection point in creating advertising and communication.


It’s the point where logic (the strategy) starts turning into magic (the idea).


It’s where planning ends and creativity begins.


Re-energising the brief


Definition of the brief should read, ‘The most insightful, inspiring, and igniting point in the creation of advertising’.


Insightful - Packed with gems and nuggets that bring the strategy to life.


Inspiring - Makes the creative team go ‘Wow!’ and take ownership of the brief.


Igniting - Triggers the creative to buzz with ideas that they can’t wait to get cracking on.


In fact, a good brief is like ‘an ad for creative people’.


What makes a great brief


While most agencies have their own briefing formats, based on their conceptual frameworks and creative philosophies, the basics of a great brief remain the same.


Here are a few key ideas that can help re-energise creative briefs.


Keep it simple and sharp


Don’t try to impress with mumbo-jumbo or jargon. Make it simple.


Rather than saying, ‘Increase TOM (Top-of-mind awareness) and brand salience’, it’s much better to say, ‘Make the brand famous.’


Instead of ‘Enhance width and depth of consumption’, why not ‘Get more people to use more’.


Also, never overload - stay focused, sharp and crisp. A brief should not be more than a page or two (that’s why it is called a brief).


Pull out little nuggets


Don’t dwell on information, instead dive for gems that bring your strategy to life and tell a story. Embed your brief with evocative and powerful nuggets.


When Taj Mahal tea bags were being launched, the nugget in the brief was to position them as ‘The Walkman of Teas’ to encapsulate the mobility, convenience and modernity of the format.


When Dabur honey was being repositioned as a health food from a home remedy, the brief summed up the challenge as moving the brand from ‘the medicine chest to the dining table’.


Bring your target person to life


One of the biggest sacrileges in briefs is the vague and rather generic definition of the target audience. You really can’t get a handle of who you are talking to until you bring that person alive.


This is how a bland brief will define the target audience for Axe deo:

Young men aged 16-25, who are concerned about their appearance and how they attract the opposite sex. They buy deodorants to smell fresh and feel confident. Axe with its masculine fragrance is the perfect choice to be attractive to girls.


Here’s an inspiring definition of the Axe target person:
Imagine Benjamin… he thinks about women a lot. A lot, a lot. But he’s not dreaming of romance, he’s a dirty boy who can’t stop thinking about sex with extraordinarily welcoming women. Yet in the real world, women are a completely different country - it’s somewhere he’s never been, it may be a while before he gets to go there, and you’re guaranteed he won’t be able to speak the language when he does. 
Deep down he wishes he could just be himself around girls and that it wasn’t so complicated, that he didn’t have to try so hard. What he wants isn’t deodorant at all, but a secret babe-magnet.


Which one do you think created the ‘Axe Effect’?


Dramatise it


A brief is more than just a piece of paper. It’s a piece of theatre.


Once, a bunch of creative people were packed like sardines into a cramped car and were told they were being taken to the client’s office for a briefing. Midway, they were intercepted by the account supervisor, driving a Maruti van (a move that was engineered). 


They were immediately transferred into the more spacious confines of the van and as they sprawled themselves, someone exclaimed, “Guys, this is the brief - travel in space.” How’s that for a powerful demonstration?


Here’s what a leading creative director told me, “I once had an account executive give me a brief with a hole burnt into it. That got me curious. Then I noticed it was for a fiery hot pizza. Right there, she got me.”


It’s time we changed the way we look at briefs, because great advertising is born out of great briefs. It may be a good idea for the industry to introduce an annual award for the best briefs as an incentive to encourage and reward great briefs. 


Can we bring the glory back into briefs? Can we have more briefs than griefs?


Yes, we can!


Anand Narasimha is a corporate turned academician with over three decades of experience spanning Brand Marketing, Advertising, Consulting, and Teaching. He writes the column Marketing Mocktail for Storyboard18. Views expressed are personal.

Marketing Mocktail: Brief or Grief - the creative brief explained

Most brands divide their advertising budget between creative development and media buying in a ratio of 1:10. However, when recalling famous advertising campaigns, it's likely that people remember the creative teams behind the ads, rather than the media planners and buyers who ensure that the ads reach the right audience with the right frequency.

In the past, when advertising was limited to one or two mediums such as TV and print, media planning and buying were relatively straightforward. However, with media becoming increasingly segmented, this is no longer the case. The role of media in the success of any campaign has therefore increased significantly. Without proper alignment between the creative campaign and media plan, the chances of failure are high.

Traditionally, advertising campaigns were conceptualised by establishing business objectives, which were translated into marketing objectives, and then communication objectives. Based on these, a brief was created, and the creative agency would uncover consumer/category insights and develop a core campaign idea. This idea would be presented alongside the TV commercial script, which formed the centrepiece of the campaign. The campaign idea would also be extended to other media such as print, digital, and OOH.

Although media objectives and planning would also be carried out concurrently, they were often not considered inputs or constraints for the creative agency.

Now, there are three problems that happen with this approach:

1. This leads to some campaign ideas/scripts which are not native to the primary platform as per the media plan. Because of a digital native TG, you might have a media plan which is heavily skewed towards Youtube to build awareness. And the best way to build awareness on Youtube is by using the 15-second non-skippable ad. Now if your hero creative is a 30 sec one and impossible to tell a coherent story in the 15-second cut, the campaign will fail.

2. Sometimes you have a wonderful clutter-breaking script, but it is not going to be registered by consumers when they watch it only once/twice. You might have a budget constraint which will limit the input GRPs in your markets. That would mean that at best you can optimize your plan to maximize reach at a three-plus frequency instead of 5/6. Now if your hero creative is witty/difficult to understand easily, your campaign will fail because of lack of enough number of exposure.

3. You might have a media plan which is skewed towards a certain region, but the core insight/communication might not resonate with that region. For Example, 50 percent of your sales might come from the five Southern States, but your campaign idea/core insight resonates more with the Hindi belt. If the TVC is also conceptualized in Hindi and only translated later to regional languages, the chances of the campaign failing will be higher.

All of these problems could be solved by making only a single change in the approach to rolling out a campaign. Include a tentative media strategy/plan, and the constraints that come with it as part of the brief that goes to the Planning team of the creative agency. This will ensure ideas and creative outputs which fit like a dream with our media strategy and plans.

If you want to use Meta in your media plan, your creative agency will ensure that vertical videos that seem native to the platform( Reels) are part of the creative output. If you have a reach plan to maximize reach at three plus frequencies, your creative agency will ensure that the communication is simple enough to understand in one go. If Kerala is a major market for you, your creative agency might recommend creating a separate campaign altogether conceptualized and taught in Malayalam using insights from the Kerala market.

The real magic happens when creative and media teams work together on a brief right from day one. This used to happen few decades back. Maybe it's time to go back to the same practice to ensure that brands get the highest RoI from their marketing spends.

The writer is the founding member and chief business officer of Atomberg. Views expressed are personal.

The power of collaboration: How including media planning in briefs can improve RoI

MAST

Brand: Oakley

Campaign: Be Who You Are

Agency: Brandmovers India

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Growing up, we were constantly asked to fit into the mould of societal expectations. Somewhere, amongst the increasing noise, doubts, aspirations and constant chatter, ‘being ourselves’ took a backseat. We forgot to focus on ourselves, be comfortable with making mistakes, and taking risks.

The latest commercial by Oakley stays true to its value of “Be Who You Are.” As the ad film rolls on, right from the hopes of 1.3bn people being shouldered by cricketer Rohit Sharma, to the doubts and noise surrounding him, the commercial shows how Sharma does not let the people’s uncertainties stop him from always giving his best. The ad film conveys the message of being your authentic self, and the importance of knowing “Who you are", where every frame of the film radiates courage and confidence. Overall, the ad film gets a thumbs up for its realism on a crucial subject.

MEH

Brand: NutriGlow

Campaign: NutriGlow

Agency: In-house

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For years, most of the ads that touched upon the subject of beauty have either been explanatory in nature, or had a pair of girls dancing to stress upon the brand, and convey positive effects. NutriGlow’s latest campaign follows the same unsatisfactory pattern. Actor Genelia Deshmukh along with a bunch of girls are portrayed as ‘GlowGirls’ who are moving to a beat to highlight NutriGlow’s varied range of products. However, Deshmukh, who serves as the brand ambassador for the brand and is known for her bubbly and fun loving nature could not save the commercial from being a dull and disappointing one to watch. An engaging and different storyline could have prevented a Meh.

Mast 

Brand - Thums Up

Agency - Ogilvy India

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From sitting on tree-tops, listening to radio commentary to gathering around paan shops, Indians have found many unique ways to tune in to their favourite cricket matches. Cola brand Thums Up, plans to provide cricket fans in India with a never seen before, innovative experience through in its feature. The ad featuring Jasprit Bumrah, Umran Malik and Brett Lee, showcases an option that allows you to experience watching an ICC T20 World Cup match through a camera fitted in a wicket. Fans will have to scan a QR code on the Thums Up bottle to get access to the camera feed and become part of this immersive experience. That is as close as one can get to being present at the actual game. If this works, it is bound to leave all cricket fans stumped!

Meh

Brand - Casio India

Agency - In-house

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Are you an over-thinker? Yes? Then Casio’s latest ad is definitely one for you. The film opens with a student, who asks his father to buy him a Casio calculator. When his father asks if he can get any other calculator if he doesn’t find one by Casio, the son starts to overthink a series of probable events and scenarios that might impact his life, all due to the repercussions of using an ordinary non-Casio calculator. While the concept works well on paper, the execution doesn’t translate well onto screens. A great concept, poorly planned and executed resulted in us providing this spot, a meh. 

Mast

Brand: Tata Motors

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Festive ads can seem too filmy and over the top with all the songs, dances and unnecessary drama around festivities. However, sometimes there are ads that truly have a feel good factor to it. The Durga Puja TVC from Tata Motors is a perfect example. The ad features the most celebrated actor of Bengali cinema, Prosenjit Chatterjee for the spot but not in a way you’d normally expect. His presence is subtle. His role is of the narrator who acts like a catalyst, adding a slight hint of glamour to the ad without being completely involved in it. The narrative is clean and well packaged with the integration of car features that seamlessly blend in. In true festive fashion, there is a sweet story, a great song and a product that is being rightfully celebrated. All the fun elements work perfectly in unison which makes this new TVC from Tata Motors a good one to watch. A definite Mast in our books. 

Meh

Brand: Hindware

Agency: In-house

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Hindware has a new TV campaign – ‘Go Larger Than Life’ starring actor Tamanna Bhatia and The Great Khali. This is the first ever TVC from Hindware Italian Collection since the company forayed into the tiles segment. The tiles shown in the spot look beautiful and appealing for sure but unfortunately, the same cannot be said for the spot itself. With an inane narrative and an unnecessary objectification of a tall man being compared to huge tiles is unimpressive and doesn’t leave a good lasting impression. A very poor concept and even poorer execution awards this spot a MEH 

MAST

Brand: Cadbury Dairy Milk

Campaign: Cadbury Dairy Milk Bodyguard – Kissi aur ki Khushi mein shaamil hokar dekhiye

Agency: Ogilvy India

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Tigmanshu Dhulia never fails to impress viewers with his performances. In this spot, his appearance as a politician paints him as a ‘larger than life’ character. Dhulia, who is seen making his way towards the dais along with his bodyguards amidst the cheering crowd, to celebrate the success of one of his guard’s daughters who cleared the medical entrance exam is warm and comforting to watch. He is seen feeding the daughter a piece of Cadbury Dairy Milk as a token of appreciation and celebration. The ad film stays true to its message “Kissi aur ki Khushi mein shaamil hokar dekhiye.” A ‘Mast’ watch in our opinion. 

MEH

Brand: Myntra

Campaign: Myntra Big Fashion Festival

Agency: In-house

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The absence of any fun factor for an ad that aims to be comical is very evident right from the start. The campaign, which aims to promote Myntra’s Big Fashion Festival does not really generate any curiosity to check out how interesting the fashion festival might be. Even the presence of celebrity couple Virat Kohli and Anushka Sharma, does not seem to add any drama to the dulness. Ironically, Myntra’s idea of using ignorance to draw attention not only tanked on screen but also failed to attract audiences in real life. An interesting build up to the story along with some festive cheer to promote the fashion festival could have prevented a Meh.

Mast

Brand: Coca Cola

Agency: In house

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Durga Puja for Bengalis is like a five-day long party. Like any party, food and soft drinks are an important part of this celebration. So if you are telling a Durga Puja story and you add food and soft drinks to it, you definitely make for a good storyteller. This new puja anthem from Coca Cola is a perfect spot for the pre-festive weeks. Casting the OG cool guys of Bengal (read members of Bengali band Chandrabindoo) and the catchy song add to the festive mood and cheer. The ad comes with its share of glam factor too, with Bengali superstar Dev adding spark and being a part of the 39 second screenplay. Overall, Coca Cola has done a great job with capturing the mood of the Bengal market right now with everyone preparing for the upcoming celebrations. 

Meh

Brand: Pantaloons

Agency: Production: KITCHEN, Concept: Ogilvy

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Rap songs and hip/hop as a genre are very popular with millennials and Gen Z. However, when used in an ad, it resonates only if executed and performed well. Unfortunately, this new Durga Puja spot from Pantaloons banks on a below average rap jingle that pulls down the overall vibe of the piece. Moreover, the Bengali voice overs are heavily accented. It could’ve been done on purpose to go with the background score but doesn’t help the tune in any way. It stands out as a noticeable blunder. The song, the script and overall performance of the cast makes this a wannabe number desperate for attention. We’re still on the look out for an ad that captures Gen Z mentality correctly and executes it well. 

MAST

Brand - The Body Shop

Agency - In house

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Breaking the popular notion that young citizens are becoming increasingly apathetic towards societal issues, The Body Shop launches a campaign calling upon policy makers to evaluate lowering the age of candidacy in the Lok Sabha from 25 to 21 years of age. The goal is to get greater youth representation in the Lok Sabha. To spread the message, the brands video campaign features young leaders from across the country including Sudhanshu Kaushik, founder, Young India Foundation (27), Jalandhar High Court lawyer Inderpreet Kaur (24) and Sachin Rathod, independent panch ingalangi (29) talking about their efforts in bringing change in society thereby inspiring others. The ‘Be Seen Be Heard’ initiative is being rolled out through a partnership with Young India Foundation. The WHY25 drive has been launched across India at all The Body Shop stores in September 2022 and will run till end 2024 in over 25 states with offline and online petitions to support the cause. Now, that's what you call a brand with a purpose. A mast ad, definitely a great watch. 

MEH

Brand - Levi’s India

Agency - Spring Marketing Capital

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Levi's India’s series of ads with Deepika Padukone follow a pattern that has become repetitive and boring. In the new ad Padukone is seen in a space that needs to be set up and decorated. The camera follows her doing various chores like pushing a sofa into place, sticking a poster on a wall while ambling around with her friends, etc dressed in a new baggy Levi’s jeans of course. The spot ends abruptly leaving viewers confused. While Levi's baggy collection might be in vogue, its advertising seems really last season! It’s time for a refresh. 


MAST

Brand – Bombae Fuzz Off Trimmer | Painless hair removal for women

Agency/Production House – Talented, StudioFry

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This 30 seconder is an edgy one. It’s probably the only hair removal brand that has shown body hair before women shave/wax/trim it off. Bombae says #FuzzOff to societal expectations. It shows the pain women go through to go hairless and attempts to normalise never-seen-before body hair imageries. An empowering ad that breaks boundaries. It’s a mast watch because it is changing the narrative of the category.


MEH

Brand – Manyavar | Taiyaar Hokar Aaiye

Agency - Shreyansh Innovations

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The hyperactive actor Ranveer Singh for the new commercial of Manyavar is featured as a spunky wedding photographer. For a change, he is dressed perfectly fine. However, he singles out a suit-clad ‘mausaji’ by saying he is ruining the perfect family photo in his western outfit. Okay, we get it, this was all supposed to be in good fun and maybe for the sake of advertising. However, we think the brand could have picked a better line of thought to stitch the script. After all, isn’t fashion a personal choice? Shouldn’t Singh know that better than anyone else?

Mast & Meh: Oakley, Thums Up, Tata Motors, Myntra, Levi's India

The biggest test Indian girls face in their school years is the "beauty test", says Unilever-owned beauty brand Dove in its latest campaign released on International Daughters Day 2022 (25 September). The ad has been viewed by millions of netizens, garnering over 12 million YouTube views in four days. 

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While the campaign gained appreciation for starting a conversation about deeply ingrained beauty biases, a section of audiences also criticised the company for double standards. Unilever sells Glow & Lovely (earlier called Fair & Lovely) which largely hinged its communication equating fair/light skin with success. However, in 2019 Unilever changed the product name and also its advertising strategy to be more inclusive and conscious. 

This is reflected in the new Dove ad as well. 

Made by advertising agency Ogilvy India, the ad shows how young girls are subjected to socially accepted standards of beauty which drastically impact their confidence and self-esteem. The Stop The Beauty Test 2.0 is an extension of its previous campaign that was focused on beauty judgements faced by women during marriage. 

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To be sure, Unilever said that Dove launched a study which stated that 80 percent of Indian school girls have faced unjust beauty tests as a teenager. Hence, this year the conversation has shifted focus from prospective brides to the stage where it all begins – adolescence.

 In an exclusive conversation with Storyboard18, Harman Dhillon, vice president, hair care, Unilever talks about the backlash on its new campaign, changing ideas of beauty and how Dove is striving to stay relevant among Gen Z consumers.

Edited excerpts:

There is a certain set of audience that have criticised the new campaign. How does the brand deal with the negative feedback?

Our intent with #StopTheBeautyTest campaign was clear - to make society aware of a prevailing issue faced by young girls on a daily basis. To bring about a tangible impact with the Dove Self-Esteem Project, we are training teachers to deliver educational modules around body confidence and self-esteem to young minds. Our purpose of the campaign is to create awareness regarding when these beauty biases start, and the impact it has on women. We respect everyone's point of view and hope they see that our objective is to redefine the scope of beauty - celebrating it in its authentic and diverse form.

What kind of research went behind picking the theme for this edition of the campaign?

At Dove, we’re constantly working towards making beauty a source of confidence and not anxiety. Last year, we brought to light beauty-based judgements women especially faced during marriage and the impact it had on their confidence. However, during our research we uncovered a key moment of truth wherein societal standards of beauty are imposed on women much earlier on - as young as adolescence. Capturing this sentiment, we shifted our focus on the root of the problem - moving our communication from prospective brides to teenage girls. At a time when these girls should be concentrating on education, they are being unknowingly subjected to beauty biases by society. We felt that this was a crucial stage of intervention and wanted to bring about a tangible change. Thus, with #StopTheBeautyTest 2.0, we aim to raise the self-esteem of these young girls and break through beauty led stereotypes. 

Where did the inspiration for the execution of the campaign come from?

As always, we wanted to share real stories enacted by real girls and feature the real-life implication beauty judgements have on their self-esteem. So, the brand film is a portrayal of exactly that. We want to highlight how family and peers, in the guise of guidance, are pressuring young girls to fit prescribed beauty standards and how this can lead to body image issues in their young minds - eventually stunting their confidence. The #StopTheBeautyTest movement is an attempt to bring awareness about this issue so we can stop subjecting young girls with beauty-based report cards and grading them on external appearances. The focus instead should be on building their self-esteem so that they can be comfortable in their own skin and realise their potential to the fullest. 



<blockquote>While Dove’s global markets may be slightly more evolved, we’re not far behind where customers are demanding equal representation and opportunity. Brands no longer can superficially support progressive social movement but need to be actively engaged and be true drivers of change.</blockquote>



What is Dove doing to stay relevant among the Gen Z? How do they define beauty and is it different from older consumers?

The Dove Self-Esteem Project is aimed at the Gen Z with a vision to empower 8 million young minds by 2025. As part of the initiative, we partnered with experts in the fields of psychology, health and body image to create educational modules around body confidence and self-esteem which will be delivered by teachers under the life skills curriculum. Through this we will be reaching girls and boys in grades 6, 7 and 8 in selected schools across 8 states.

The ultimate goal is to change ‘beauty’ from its conventional lens and redefine and realign what it means to be beautiful. In comparison to the older generation, the younger audience is demanding an ethical, inclusive and diverse representation of beauty in media and Dove’s Real Beauty motto stands tall to deliver on the ask - ensuring beauty is not defined by shape, size or colour but being beautiful is to be the best version of yourself.

Any unique trends in terms of advertising or consumption you are witnessing among your TG in India? How's it different from Dove's global markets?

The Indian woman has gone through a complete metamorphosis in the recent time, especially when it comes to her portrayal in advertising and media. We’ve come a long way from women being conditioned to believing their self-worth is dictated by the perception of others, to now where they are seen taking charge and having a voice of their own. At Dove, we’re proud to have been one of the leading contributors to this change and are glad that brands across categories are following suit.

Today, our TG makes their own choice and has the spending power. Beyond expecting brands to deliver high-quality products, they also demand the brand drive a thought-provoking dialogue. While Dove’s global markets may be slightly more evolved, we’re not far behind where customers are demanding equal representation and opportunity. Brands no longer can superficially support progressive social movement but need to be actively engaged and be true drivers of change.

How do you measure the success of a campaign now? Has the benchmark changed over the years?

Today, the success of a campaign, especially when it comes to the type of campaigns Dove has been leading, is very different from the benchmarks traditionally set in place. The impact is no longer purely number driven. The campaigns of the current era are heavily driven by the impact they have on people and the type of change we can drive through the efforts of the campaign. 

Are the days of big splash TV campaigns long gone? What works for new gen consumers?

Television is a relevant medium even now, in my opinion. There is still a large set audience in the deeper pockets of our nation who yet rely on television for entertainment as well as information. Thus, given that our target isn’t just the metro markets but pan India, TVC’s are a prime medium for us to bring our narrative alive. On the other hand, speaking about the new generation of consumers, social media has emerged as a stronger medium of communication than most others since it allows a two-way communication unlike TV. Thus, it is essential for us to keep the balance while strategising our media plan.

Exclusive: Unilever’s Harman Dhillon responds to feedback on viral Dove ad

Two years ago, YouTube introduced Shorts in India. Today, Shorts are generating 30 billion views per day, which is four times more than one year ago. Ajay Vidyasagar, Regional Director, APAC, YouTube Partnerships, says the language platter and the content genre is only growing in the market and Shorts is fueling the growth. He also talks about monetization on the platform and more. 

Edited excerpts.

Shorts completed two years in India. How has it been? And what has the growth story been like from where you started to where you are now? 

YouTube as a platform is over 14 years old in India. When we got started, our primary mission was to democratize video creation. Until that point, the world really saw storytelling as being the forte of a few. Our goal was to really, truly, truly democratize this in a manner that anyone who is interested in sharing a story should be able to share it. Our role in that was to use technology to take out all the friction in the operationalization of it and help good stories to be discovered, consumed and engaged with. That is really what we’ve been able to do in scale over these many years.

YouTube Shorts was announced two years ago; we flagged that off in India. The YouTube Partner Program (YPP) program was only available and enabled for long form and mid form content. So, we launched a YouTube Shorts fund, in which we worked closely with content creators to help them see a line of revenue for their work.

While we see a lot of entertaining content on the platform, what is the kind of interest you have seen brands? Are brands using Shorts like they are using other UGC platforms for integrations? Help us understand with some examples.

YouTube has enabled so many different formats to co-exist and speak to one another: long form videos, snappy Shorts, livestreams and deep dive podcasts. Advertisers can, therefore, choose to talk to their target audiences- in as many forms of stories, across as many devices, as many languages and as many times a day - effectively and at scale. 

YouTube Shorts are generating 30 billion views per day globally. India was the first country where we launched Shorts and we’re proud of how quickly YouTube Shorts have become popular in India. Brands are starting to see results too. For instance, Oreo, which started its very first Shorts Challenge in Tamil Nadu with 10 of our top creators in the market to launch Oreo Double Stuf during Pongal last year. With 8 million views on their content, the brand was able to build salience in the market, improving branded searches and household penetration in a key market for them. 

How important is India as a market for YouTube when it comes to Shorts? How does it compare to other markers?

We saw the great potential and engagement short form content has for today’s increasingly mobile viewer. That’s why two years ago, we introduced YouTube Shorts, first in India, to make it easier to watch and create short-form content on YouTube. It was where our journey began, and it’s encouraging to see the adoption and excitement the product brings to both creators and viewers. 

We truly believe that what moves India, has the potential to shape the world. Digital video has become a gateway to the world for millions of Indians. In particular, short form video, which is easy to consume and create, represents opportunity like no other - to be entertained and inspired, to learn and earn, to connect and grow. 

When we introduced Shorts, we knew that we were bringing an important new format for creators and that our creators are leveraging Shorts to help breathe new life into their existing channels or inform a new content and engagement strategy is testament to their creativity.

We’re constantly impressed that creators are getting really innovative with how they use the full breadth of video formats that YouTube offers to meet their personal and business goals: from growing views and subscribers, reaching out to new audiences and growing their earning potential. 

Shorts has helped capture the interest and imagination of mobile-first creators and viewers who from whom a smartphone is a window to a world of opportunity. In India, Shorts is lowering the barriers for under-represented voices to come to the fore and pursue their passions; many of whom may otherwise have not had a platform to do so. We’re seeing creators across languages, socio-economic backgrounds and even India’s hinterlands turn to Shorts to share their passions, grow their channels and build successful careers.

Shorts has introduced a new monetization format. Please help us understand how it will benefit the platform and the creators?

We recently unveiled the next chapter in rewarding creativity on the platform by expanding the platform’s monetization system, YPP, to allow more creators to join the program, introducing new ways for creators to earn revenue through Shorts, and re-imagining the music industry and creator dynamic by opening up ads monetization for those who feature music in their videos. 

Starting in early 2023, Shorts-focused creators can apply to YPP by meeting a threshold of 1000 subscribers and 10 million Shorts views over 90 days. These new partners will enjoy all the benefits YPP offers, including ads monetization across Shorts and long-form YouTube videos. This is another option to the existing criteria where long-form creators can still apply to YPP when they reach 1,000 subscribers and 4,000 watch hours. Creators can choose the one option that best fits their channel while YouTube maintains the same level of brand safety for advertisers. To support creators who are early in their YouTube journey, YouTube will also introduce a new level of YPP with lower requirements that will offer earlier access to Fan Funding features like Super Thanks, Super Chat, Super Stickers and Channel Memberships. 

To reward the new creative class, beginning in early 2023, we’ll be moving away from a fixed fund and doubling down on a unique revenue sharing model for Shorts for both current and future YPP creators. Because ads run between videos in the Shorts Feed, every month, revenue from these ads will be added together and used to reward Shorts creators and help cover costs of music licensing. From the overall amount allocated to creators, they will keep 45 percent of the revenue, distributed based on their share of total Shorts views. The revenue share remains the same, no matter if they use music or not. 

YouTube Shorts came to India at a very opportune time. It came right when UGC was becoming very popular and the market was expanding beyond metros. Throw some light on how you managed to gain footing in the Bharat market?

When you look at all of the digital platforms in the country, YouTube is fueled by voice, video and vernacular. So, because of that, the innate ability for the platform to go to every nook and corner of the country, and be understood, be loved, and be engaged, is very natural. It actually is the easiest form of communication that somebody can get on the digital connected platform.

We started off with a predominantly English language journey and then Hindi language content started to take off from India’s metro cities. If you remember, back in the day a lot of our creators were comedy centric and from urban centers.

Now in the last five to seven years, two very big things have happened with YouTube. The content creation has gone into the heartland of Hindi speaking markets. Hindi has become far more reflective of the evolving user base that has happened. Now it’s no longer a metro phenomenon.

We’re also seeing a host of other languages also doing very well on YouTube. Telugu and Tamil continue to be heavy-use cohorts for us. The richness of the language space has been unbelievable for us. From Punjabi, Haryanvi, Bhojpuri, Bengali, to Marathi, Gujarati, there is just an extraordinary breadth of languages. Shorts has helped these markets as well. We have seen extraordinary volume from these language markets.

Ours is a journey that is really about going wider and deeper and Shorts is helping us fuel that in even more in a significant manner.

Platforms that offer both long form and short format content often see the latter stealing all the limelight. Have you noticed any such pattern?

No creator says that I want to be a short-form creator or a long-form creator. They want to be storytellers and they want to express themselves and tell their stories in different forms. We might think about telling a story today that may need 10 or 20 minutes but tomorrow, we may have a story that may shine in 30 seconds.

Our role as a platform is to give a very versatile toolkit that can help a creator succeed in every format. That’s the core of what we do. When you think about video creation, our job is to give a toolkit that helps any video creator, do what they want to do, and express themselves with the least amount of friction. We do believe that both creators and users do not ever say that I’ll only consume a story, if it is, of this size or this form. They actually want a powerful story. The ability to have that sort of freedom with scale and the best technology is really what we do. That’s what we’re focused on. That’s what we’ll always be focused on.

What are your future plans for the offering? What are the top priorities when it comes to new plans for Shorts in India in FY-23?

Shorts is a natural evolution for us: YouTube Shorts is a new way to create and watch short, mobile videos. If you think about YouTube’s earliest days, we launched with a short 18-second video, ‘Me at the Zoo’. What changed since then is how easy it’s become to create and watch short-form videos. We wanted to make it even easier for people to create short videos on YouTube using their phones, so Shorts is a natural evolution for us. 

We’re building features that are unique to YouTube. We’re bringing all short-form video to YouTube, and all of YouTube to short-form video in a really significant way. There are billions of videos on YouTube - by unlocking those videos for features like remixing so people can sample from those in their own Shorts, we’re creating a real playground of creativity like never before. We have the ability to connect multiple ecosystems - YouTube as we know it today, YouTube Music, and now YouTube Shorts. You can imagine what this might look like in the future - it will allow people to connect more deeply with the content, creators, and artists they’re most interested in. This truly is just the beginning.

EXCLUSIVE: What moves India has the potential to shape the world, says YouTube's Ajay Vidyasagar

Leo Burnett and Jim Beam

Publicis Groupe-owned Leo Burnett has been appointed as the global agency-of-record (AOR) for Beam Suntory’s Jim Beam, an American brand of bourbon whiskey. The account, which was won following a multi-agency pitch, will see the agency develop a new global positioning and creative platform. This is the second time Leo Burnett has been appointed as the AOR for Jim Beam. 2016 marked the year when the agency was first selected as the AOR for the American brand. Recently, Beam Suntory announced that it would invest $400 million in renewable energy systems while boosting bourbon production. 

Hashtag Orange and Signify India

Digital marketing company Hashtag Orange has won the creative mandate for Signify Innovations India, erstwhile lighting division of Philips Eindhoven of Netherlands. Their responsibility would include ideation, development, and execution of the company’s creative campaigns for both online and offline channels. As per a media report published in June, Signify was looking to grow by 18-20 percent during 2022 in India. Last month, Hashtag Orange appointed Shraddha Iyer as the branch head of its Hyderabad office. Further, the agency bagged mandates across several key accounts. They include GMR Hyderabad International Airport, Monte Carlo, Rock-It, Hype Ryno, EDGE by Pearl Academy, HOUSR co-living and Tulips Hygiene.

Carat India and TimesPro

Marketing agency Carat India has won the integrated media mandate of TimesPro, an edtech initiative of Times Group. The responsibility of the agency would include managing TimesPro's omnichannel media services, and this will be handled by the agency’s Mumbai office. The account was won following a multi-agency pitch.

Bharat Media Group and Newell Brands

Newell Brands has appointed Bharat Media Group, a 360 degree marketing agency to handle its brands - Reynolds and Sharpie's strategic and creative duties. The mandate includes co-creating the growth roadmap for both businesses in the Indian market. Three weeks ago, Bharat Media Group was appointed as the Agency-Of-Record (AOR) for Super4, Indian fantasy sports platform. The role of the agency will include overseeing the integrated strategy and media mandate which includes creative, performance and experiential marketing, media planning and buying (across medium, traditional and digital), OOH, and cinema. Bharat Media Group has recently made key hirings including Unilever’s former head of Trading and Partnerships, Rohin Desai, who joined as national buying head in August. Desai will head the group’s entire media buying activities across India. He will be based out of the Mumbai office and will report to Anand Charles, CEO, Bharat Media Group. In May, Debarghya Mitra joined as national head of planning. Mitra was VP of client services and head of South at WPP-owned Essence.

Option Designs and CFS Vision

Creative and digital marketing agency Option Designs won the creative and digital mandate of CFS Vision, an optical retail chain of Center for Sight Group of Eye Hospitals, which is backed by Mahindra Partners. Their responsibility would include developing creative digital branding strategies for the company. By 2027, CFS Vision aims to create 500 retail locations. In the coming years, the brand will also begin manufacturing frames and lenses under the Make in India initiative.

Compiled by Kashmeera Sambamurthy

Biz Moves: Bharat Media Group gets cracking; Carat India, Hashtag Orange and Option Designs win accounts

Dating app Tinder, in a recent survey, reveals that most young adults in India have little or no confidence in navigating consent and find it hard to have conversations on the subject. Amongst those surveyed in Mumbai, more than 64% of young adults are hesitant to give consent, ask for it, and to withdraw consent when dating someone.

When asked about situations when their consent was violated, 65% of young Mumbaikars chose not to speak to their date/partner about it and turned to a friend and looked for resources online, illustrating the need for continuous dialogue on this subject. In fact, 83% of these young adults in Mumbai believe that consent should be discussed more openly with partners.

The findings are based on research conducted by YouGov which surveyed  1,018  young adults (18-30 years) across  Delhi, Mumbai, Bengaluru, Pune, Kolkata, Chennai and Hyderabad.

Young Indians want to learn and discuss consent with 1 in 2 recognizing themselves as the biggest channel for normalizing conversations around consent.

Around 8 in 10 young adults in Mumbai believe that consent should be discussed more openly with partners, 76% want it to be even taught formally in schools and colleges, and 72% have taken steps to personally understand the concept of consent.

More than 7 in 10 young adults in Mumbai seek more resources and safe spaces (both physical and online) on consent to be more educated and aware in their personal settings. Amongst a broad group of stakeholders potentially responsible for normalizing conversations on consent, young people identified parents (55%), themselves (44%), and schools and colleges (39%) as the top three influencers responsible for that conversation.

Across various aspects of consent education, most of the young Mumbaikars are most interested in learning about how to give consent (44%), understanding their own boundaries and limitations (41%),  followed by how to ask for consent (40%), emphasizing the need for consent education in the city.

The survey highlights that there are a myriad of factors that prevent young adults from communicating consent or the lack thereof to their dates or partners. The most frequent reasons include: afraid of hurting the date/partner’s feelings (41%), themselves are awkward having such conversations (36%), not knowing how to say no (33%) and anxious about not being liked (30%).

Young adults in Mumbai also have clear categorisation of widely understood metaphors for warning signs.They listed top three red flags include making fun about your interests/beliefs, asking for personal/intimate pictures, and not being empathetic towards others.

Yet putting them into practice proves harder than imagined: 3 in 5 young Mumbaikars say that they would hesitate to say no to a kiss and an almost equal number say they would hesitate to dismiss intimate advances even though it might make them uncomfortable.

Young adults in Mumbai believe that consent extends beyond intimacy and includes a larger concern for privacy and emotional boundaries.
 
The survey was a part of Tinder’s effort to create awareness around the importance of consent.  The platform is bringing back ‘Let’s Talk Consent’, its initiative to encourage conversations around consent and safe dating. This year, the campaign launches with “We Need To Talk”, a short film that explores the nuances of consent in interpersonal relationships amongst young Indian adults.

This will be followed by a Consent and Safe Dating curriculum, developed by experts and available online and in person in select universities, to give young adults access to appropriate information and a safe space to have a healthy discourse on the subject.
 
''Our Let’s Talk Consent initiative aims to give young adults the tools and resources to understand how consent equates freedom in making choices, mutual agreement and normalizes open discussions on tough topics. Coupled with safety products in the app and initiatives such as these, we are committed to working towards creating a healthy dating ecosystem in the country,” says Taru Kapoor, GM, Tinder & match group, India.

Young adults don’t know how to give, ask or withdraw consent while dating, Tinder study

Sleeping disorders are so common and yet there is not enough awareness about them in India. Obstructive sleep apnea (OSA), for instance, is a disorder caused by the repetitive collapse of the upper airway during sleep which leads to difficulty in breathing while sleeping. While it's one of the most common sleeping disorders, not many people know about it.

To tap this massive gap in the market, medical equipment company ResMed India has launched a campaign featuring singer and rapper Baba Sehgal.

Created by advertising agency Bang in the Middle, ResMed’s #AwakenYourBest campaign is aimed at creating awareness on sleeping disorders like sleep apnea and emphasis on sleeping well.

In the video, Sehgal, in his quintessential rap style, is seen crooning a rap or sleep anthem that talks about taking a simple at-home test to diagnose sleep related disorders. The purpose of the campaign is to create awareness about the importance of good sleep in a full-filled manner.

“There’s a great gap when it comes to talking about sleep disorders and we wish to start the conversation and create awareness,” says Seema Arora, business head - consumer and digital, South Asia, ResMed.

Acute sleep deficit

ResMed conducted a study, speaking to over 5000 people digitally to understand the impact on sleep post-pandemic. The findings show that Indians take a long amount of time (close to 90 minutes) to fall asleep which is far higher than Japan (25 minutes), China (42 minutes) and Korea (30 minutes). The longer duration is equated with extended screen time on devices.

“Data also confirmed a severe pandemic impact on sleeping habits in India. The survey also stated that 62 percent Indians agreed that stress has impacted their sleep during the pandemic as well as post pandemic. Erratic work schedules, excessive digital exposure and unhealthy lifestyle is contributing to poor sleep quality,” shares Arora.

Although ResMed is targeting consumers aged 30-69 years residing in the top 20-25 cities, it is also looking to connect with young Indians (under 25 years) who could be potential influencers in their household.

“We do wish to speak to audiences above the age of 25 years to have the information and encourage their loved ones to take the test and check about the quality of their sleep,” says Arora.

Social media and digital platforms are the likely places where ResMed is hoping to engage with potential customers.

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Market potential

India is a huge market for ResMed. Arora quotes a Lancet Respiratory Medicine 2019 study, which states that an estimated 5.4 percent of all Indians ages 30-69 years (28.8 million) have moderate to severe sleep apnea. The level of sleep awareness continues to remain low in a country like India, with only a handful of sleep labs for a population of over 1.3 billion.

The study states that people are often unaware about sleep issues and even if diagnosed with sleep disorders, they tend to hide them. Hence, there is a need to create awareness about the importance of sleep and sleep related disorders.

“The potential in the India market is huge. 28.8 million people could be dealing with sleep apnea. Diet and workout can have a positive impact but it is not the gold treatment for a sleeping disorder. It requires a proper sleep check-up followed by a CPAP (Continuous positive airway pressure) machine to treat sleep apnea. As we start creating awareness we foresee a demand for these products,” says Arora.  

Currently, there are barely 30,000 to 35,000 odd CPAP devices which are being sold in a year. Compared to the population the penetration of these devices is still less. ResMed is looking to change that.

Agency speak 

Naresh Gupta, co-founder and CSO, Bang In The Middle says that Obstructive Sleep Apnea is a life-threatening condition and it's easy for the brands to be in the zone that is a bit scary.

“All our consumer chats pointed towards the fact that instilling fear doesn't work as well as creating a happier curative story. Baba Sehgal has a unique style of telling the story, we merged it with an interesting way of taking the consumer on a journey with us," says Gupta.  

"The way the music flows and the way the scenes change in the commercial brought the audience into the brand fold,'' he says, adding, "The simple call to action of asking for a Home Sleep Test was made possible with the magic that was weaved through earworm quality of the music." 

ResMed has kicked off its campaign with a song and dance and the hope that its rap track can help Indians sleep well.

ResMed hopes its rap track can help Indians sleep well

When I say something, I mean it because I feel it: FM Nirmala Sitharaman

In an interview with Rahul Joshi, Editor-in-Chief, Network18, Finance Minister Nirmala Sitharaman said that the government continues to be enthusiastic about fintech and would like to engage with more stakeholders in the space, while refraining from commenting on the ongoing crisis at Paytm,

"I wouldn’t want to comment on a particular company. But fintech is an area in which all of us are very enthusiastic. India has contributed a lot to this sector," the finance minister said.

Earlier this week, the Reserve Bank of India (RBI) imposed severe restrictions on Paytm Payments Bank, after noting material discrepancies and non-compliance issues.

<a href="https://www.storyboard18.com/brand-makers/ai-is-forcing-job-seekers-to-develop-new-skillsets-fm-nirmala-sitharaman-21731.htm">Read More: AI is forcing job seekers to develop new skillsets: FM Nirmala Sitharaman</a>

The decision led many stakeholders in the sector, especially fintech startups, to question the regulator's stance towards the sector. Former managing director of BharatPe, Ashneer Grover, said that the central bank “does not want FinTechs in business". 

“I don’t understand RBI. Clearly RBI does not want FinTechs in business - of late all regulations / moves are against Fintechs. Such moves will kill the sector altogether. The @FinMinIndia @nsitharaman @PMOIndia need to step in. Startups have been biggest creators of market cap and employment in last decade. Today IIM and IIT are struggling to place people - we as a country cannot afford such overreach ! Tom-Tom-Ing @UPI_NPCI to the world and punishing pioneers in the space is pure ‘Doglapan’," wrote Grover on X, formerly Twitter.

<a href="https://www.storyboard18.com/brand-makers/we-are-all-very-enthusiastic-about-fintech-fm-nirmala-sitharaman-21743.htm">Read More: We are all very enthusiastic about fintech: FM Nirmala Sitharaman</a>

The finance minister, in the exclusive interview with Network18, hailed the youths' contribution to the sector and assured that the government is enthusiastic about working in the space and encouraging more new-age firms to continue to build.

She further mentions the global recognition of India's fintech innovation, with many looking towards the country for financial technology solutions.

"India’s contribution in the sector has been globally recognised. Today, if people are looking at fintech solutions, they are looking at India. Our youth have contributed a lot in building capacities for themselves. This is an area we would certainly like to work with and encourage," said Sitharaman.

Paytm and Fintech: FM Sitharaman hailed the youths' contribution to fintech; 'Won't comment on a particular company'

“Fintech is an area in which all of us are very enthusiastic,” said Finance Minister Nirmala Sitharaman in an exclusive conversation with Network18’s managing director and editor in chief Rahul Joshi. 

Sitharaman said that India has contributed a lot to the fintech sector. “India’s contribution to the sector has been globally recognised. Today, if people are looking at fintech solutions, they are looking to India,” she added. 

<a href="https://www.storyboard18.com/brand-makers/ai-is-forcing-job-seekers-to-develop-new-skillsets-fm-nirmala-sitharaman-21731.htm">Read More: AI is forcing job seekers to develop new skillsets: FM Nirmala Sitharaman</a>

She went to add that India’s youth has contributed a lot and have built capacities of themselves. “This is an area which we will certainly like to work with and encourage,” the FM said. 

The Minister also said that the Reserve Bank of India (RBI) does tale its own call and she would appreciate if the RBI worked with the stakeholders. “The RBI takes a call keeping growth in mind. They’ve been steady and that they’ll continue to be steady is my expectation and hope,” she said. 

<a href="https://www.storyboard18.com/quantum-brief/fm-nirmala-sitharaman-to-network18-groups-rahul-joshi-this-is-secularism-in-action-21740.htm">Read More: FM Nirmala Sitharaman to Network18 Group's Rahul Joshi: “This is secularism in action"</a>

We are all very enthusiastic about fintech: FM Nirmala Sitharaman

A day after presenting the interim budget, Finance Minister Nirmala Sitharaman spoke exclusively to Network18 Group's Managing Director and Editor-in-Chief Rahul Joshi about how it was a “true vote on account budget”. Sitharaman presented the pre-election budget listing out achievements of the Modi government in the past 10 years while giving a glimpse of the future plans to make India a developed nation by 2047. While presenting the interim budget, Sitharaman said the Modi government covered all aspects of inclusivity. She added that the people of India are looking ahead to the future with hope and options. Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour.

“We treated it like a true vote on account, an interim budget before an election, and also an interim budget which is being presented with the clear understanding that the several programmes which were launched with empowerment of citizens in mind over the last 10 years are reaching the ground and the beneficiaries are already on their own speaking about it,” the FM said.

Read key takeaways from the exclusive interview. 

“This is secularism in action" 

In the exclusive interview, Finance Minister Nirmala Sitharaman told Network18 Editor-In-Chief, Rahul Joshi: “The power of word of mouth is very strong. So when a beneficiary gets truly the benefit, and without any middlemen playing a role in it, they really understand that the intent of the government is what they’ve said is what is getting executed. So I place a lot of trust in the word of mouth, which has helped in schemes like PM Awas Yogana, PM Mudra Yogana, Swanadhi Yogana. All of which have benefited the small households, small people who want to do their business and who don’t have money to give for collateral, no properties to give. 

So this government has actually, because of the vision with which the prime minister is committed to serve this country, is actually serving the common people in letter and spirit, and that is recognized by the people themselves. It’s not as if you are saying and you are showing target numbers, you are showing achievement numbers. No, the people on the ground are saying about it, I’ve got it. And so has my neighbor. So has the neighbor of that household and so on.”

“That is why I have used an expression, and I mean it when I said it, that this is secularism in action. This is where we have not shown any difference between members belonging to this community or that, this religion or that or somebody’s relative or not. No difference. The project reaches the ground to everybody who deserves to get it. And if they are eligible, they get it irrespective of who they are. And therefore, in every way, the principle of empowerment, the Sabka Saath, Sabka Vishwas and Sabka Vikas, has been executed in every way. And that is the sense of confidence that the blessings of the people are not just at the time when we gave promises, but the blessings are coming in abundantly even now to say, yes, you’ve kept up your word,” the FM said.

"Impact of digitisation on rural economy yet to be measured"

The impacts of digitisation and connectivity on the rural economy are not coming through in current economic indicators, FM Nirmala Sitharaman said in the interview with Joshi, Editor-in-Chief, Network18 on February 2.

"Indicators with which we are looking at the rural economy may vary, newer indicators may tell us a different story. FMCG data is one indicator. But better connectivity, digitisation (in rural areas) are yet to be measured," said the Finance Minister a day after she presented the interim Budget. She also said that college recruitments, and hiring in top institutions like IIMs are important, but jobs created in middle and lower order are not being counted when talking about employment in the economy.

"I am not sure I will be able to describe what is happening in the rural economy. Let us recognise there is a lot of shift in employment, let us recognise migration is now looking at redefining itself," she further said.

"AI is forcing job seekers to develop new skill sets" 

The FM spoke about the employment and job market in India. There has been news of students, and freshers not being able to find jobs despite being from the top institutions of the country like IITs and IIMs. According to Sitharaman, discussions on this topic are currently based on limited knowledge and information. There are more companies being registered in India and they obviously cannot operate in a vacuum. Furthermore, lower and middle order jobs are not being taken into account. "Why are companies being registered in higher numbers if jobs are not being offered?," said the FM.

The global slowdown is having an impact on Indian jobs as well, especially at the higher end in IIM’s and IIT’s. Sitharaman said, “because of artificial intelligence, the kind of job requirements expected of recruits is changing. People with old skillsets are expected to have new and additional sets of skills for entering a certain area which until now, didn’t exist.”

Read More: <a href="https://www.storyboard18.com/brand-makers/ai-is-forcing-job-seekers-to-develop-new-skillsets-fm-nirmala-sitharaman-21731.htm">AI is forcing job seekers to develop new skillsets: FM Nirmala Sitharaman</a>

FM Nirmala Sitharaman to Network18 Group's Rahul Joshi: “This is secularism in action"

In an exclusive conversation with Network18's managing director and editor in chief Rahul Joshi, Finance Minister Nirmala Sitharaman spoke about the employment and job market in India. 

There has been news of students, and freshers not being able to find jobs despite being from the top institutions of the country like IITs and IIMs. According to Sitharaman, discussions on this topic are currently based on limited knowledge and information. There are more companies being registered in India and they obviously cannot operate in vacuum. Furthermore, lower and middle order jobs are not being taken into account. "Why are companies being registered in higher numbers if jobs are not being offered?," said the FM. 

<a href="https://www.storyboard18.com/brand-makers/paytm-and-fintech-fm-sitharaman-hailed-the-youths-contribution-to-fintech-wont-comment-on-a-particular-company-21754.htm">Read More: Paytm and Fintech: FM Sitharaman hailed the youths' contribution to fintech; 'Won't comment on a particular company'</a>

The global slowdown is having an impact on Indian jobs as well, especially at the higher end in IIM’s and IIT’s. Sitharaman said, “because of artificial intelligence, the kind of job requirements expected of recruits is changing. People with old skillsets are expected to have new and additional set of skills for entering a certain are which until now, didn’t exist.” 

The interim budget or the ‘Vote of Account’ for 2024 was presented by FM Nirmala Sitharaman yesterday, Feb 1. 

During her Budget speech on February 1, Sitharaman said that through the Skill India Mission, the government has trained 1.4 crore youth, upskilled and reskilled 54 lakh youth so far. The government has "established 3,000 ITIs and large institutions of higher learning including 7 IITs, 16 IIITs, 7 IIMs and 15 AIIMs and 390 universities have been set up."

<a href="https://www.storyboard18.com/quantum-brief/fm-nirmala-sitharaman-to-network18-groups-rahul-joshi-this-is-secularism-in-action-21740.htm">Read More: FM Nirmala Sitharaman to Network18 Group's Rahul Joshi: “This is secularism in action"</a>

In September 2023, the Modi-led government unveiled the Skill India Digital Platform to bring all skilling initiatives under a single umbrella and provide skill development and entrepreneurial support to people. More than 264 skilling courses from 42,623 centres from across the country will be available under the platform, which will also provide opportunities for job exchange, apprenticeship, and entrepreneurship.

AI is forcing job seekers to develop new skillsets: FM Nirmala Sitharaman

On February 1, Finance Minister Nirmala Sitharaman presented the Interim Budget 2024. Several high profile personalities took to X to express their views and the Budget speech received thumbs up from Harsh Goenka, chairperson, RPG Group and Anand Mahindra, chairperson, Mahindra & Mahindra. But Shashi Tharoor, member of the Lok Sabha and an MP from Congress, had a different take. He took to X where he stated, “What does "GDP" stand for on this government's watch? 'G' for "governmental intrusion and tax terrorism", 'D' for "demographic betrayal" and 'P' for "poverty and rising inequality.”

Read More: <a href="https://www.storyboard18.com/how-it-works/harsh-goenka-budget2024-is-a-fighter-that-tames-the-animal-of-recession-21590.htm">Harsh Goenka: Budget 2024 is a Fighter that tames the Animal of recession</a> 

In a video interview to a media organisation, Tharoor said, “It's not just an interim budget but their (BJP government) final budget, and there's no question about it. This is a government that has completely run out of ideas. They have essentially given us a whole rhetoric. It was only the shortest budget speech on records since I started following the budget 15 years ago.”

In the video, Tharoor went on to state that the ‘film was not yet finished’. “Votes can’t be counted until they are cast and the votes will be cast when the time comes. There is still time for the opposition to get its act together,” he said.

Read More: <a href="https://www.storyboard18.com/quantum-brief/budget-2024-the-fiscal-deficit-target-was-better-than-envisaged-prudence-scored-a-decisive-victory-anand-mahindra-21543.htm">Budget 2024: The fiscal deficit target was better than envisaged. Prudence scored a decisive victory: Anand Mahindra</a>

Budget 2024: What does "GDP" stand for on this government's watch?, asks Shashi Tharoor

On February 1, Finance Minister Nirmala Sitharaman unveiled the Interim Budget, weeks before the Lok Sabha prepares to go for elections between April and May. The full Budget of 2024 would be presented in July after the new government comes into power.

Sitharaman has left the tax rates and slabs unchanged for both old and new income tax regimes for 2024-2025. For an income of up to Rs 3 lakh, no tax would be applied, for an income between Rs 3 lakhs - Rs 6 lakhs, a tax of five percent would be applicable. 

Under the new regime tax slabs, for anyone, whose income is between Rs 6 lakh - Rs 9 lakh, Rs 9 lakh - Rs 12 lakh, Rs 12 lakh - Rs 15 lakh and an income of Rs 15 lakh and above, the taxes would be applicable at 10 percent, 15 percent, 20 percent and 30 percent.

Under the old regime tax slabs, income up to Rs 2.5 lakhs is exempt from taxation. For those whose income is in between Rs 2.5 laksh to Rs 5 lakhs, they would be taxed at a rate of five percent. 

Income from Rs 5 lakhs to Rs 10 lakhs would be taxed at 20 percent. Income above Rs 10 lakh is taxed at 30 percent.

Pranjal Kamra, chief executive officer, Finology Ventures said, “If the new tax regime is meant to simplify the complications of the old tax regime by being in existence, it further leads to complications. We all know how important the government thinks that the national pension scheme is. Thereby, it should also get a special provision in the new tax regime the way it got in the old tax regime.”

Edited excerpts


What are your thoughts about the Interim Budget 2024 with respect to the income tax regime?

Mixed thoughts specifically regarding the tax slabs. For example, if inflation is six percent, it means that the common man now has six percent more expenses and by virtue of it, probably six percent higher income. So, slabs should at least be adjusted as per inflation so that I don't end up paying more taxes and glory is taken saying no changes in tax lab.

Compared to Budget 2023, how did Interim Budget 2024 fare? 

For a common man, mostly a budget means whether he or she is getting any additional relief. Even though it's an interim budget, more clarity is (needed on) how we are going ahead in terms of merging the old tax regime and the new tax regime because two regimes existing parallelly doesn't make a lot of sense.

If the new tax regime is meant to simplify the complications of the old tax regime by being in existence, it further leads to complications. We all know how important the government thinks that the national pension scheme is. Thereby, it should also get a special provision in the new tax regime the way it got in the old tax regime.

So I think these were the two minor misses, but I'm sure that further down the year when the full budget is unveiled, this might be corrected. 

2023 has been quite a year for finfluencers. Securities and Exchange Board of India (SEBI) released a consultation paper after ASCI revised its influencer guidelines requiring finfluencers to be registered with SEBI. What sort of an impact have the guidelines had on your modus operandi as a finfluencer? 

It has been a little different for us because we are SEBI registered since 2018. RIA (Registered Investment Advisor) regulations are so tough that comparatively these finfluencer guidelines are nothing. I'm someone who already complies with the RIA regulations. And in comparison to those, I don't feel any additional burden. 

I think there should be some formal regulation for finfluencers because we need to understand the intent behind the RIA regulation. When they came in 2013, it was to actually regulate the mode through which advice was rendered back then. Back then, the primary mode was websites and physical consultations.

Today, the primary mode through which financial awareness or consulting is given is through finfluencers and social media. The existence of those regulations defeat the purpose if now a new regulation does not cover the primary mode of delivering these consultations today. So I welcome these steps and I think not just guidelines, there should be a formal regulation. 

 
SEBI took action against a few of the finfluencers like PR Sundar. How have such incidents impacted the brand collaborations that came your way? 


I take very few brand collaborations offers. In terms of offers also, there has been a reduction. But for the good, because I don't see reputed brands not approaching us. I only see brands that were operating in the regulatory grey area now not being so aggressive.


So I think for some finfluencers, it could have led to some monetary distress. But as a regulated entity, we couldn't touch a lot of brands. So it does not impact us financially.


Could you name some of the brand collaborations that have come your way? 


Previously, we saw a lot of betting, gaming apps, crypto apps, stock market games etc approaching us.


We would receive offers like speaking good things about an IPO. If a quarterly result came, requests like 'could you tweet something good about the quarterly results etc?' would come my way. And I would deny it.

When, the next day, I saw YouTube or social media filled with the same kind of videos or tweets, it did hurt. So, those offerings in itself have reduced. 

But otherwise, safer options like promoting a platform and not promoting a particular scrip or an asset is something we look at. If one wants to buy insurance, I would never promote a particular brand.

So if it's a platform and where the end responsibility is with a regulated entity, say, if I'm buying HDFC life insurance, it shouldn't matter much whether I'm buying it from Paisa Bazaar, Policy Bazaar or some other website. So I'm more comfortable with these marketplaces rather than promoting the end product. 

With the brand collaborations requests that you are receiving, what are the precautionary steps you take to avoid being misled or misguided or coming under the radar of SEBI? 

We are all under the radar and rightfully so. Rather than being fearful or feeling nervous about it, with or without these guidelines, what we have to work with is common sense.

There are three or four basic guidelines that all financial intermediaries follow. As influencers, we should also follow. First, if you are earning by promoting the product, disclose it. So I think disclosure is very basic. In a lot of ways, the guidelines also repeatedly talk about it. 

Second, avoid front running (forward trading or tail-gating). It can't happen that I invest in a particular asset or a company today and then I start promoting it tomorrow. Third, do not do contra trading (multiple buy and sell trades on the same day or the next trading day, as per Westpac). Fourth, do not act on insider trading. 

It's just that the guidelines specifically say finfluencers. But with or without finfluencers, I think dos and don'ts are mostly the same. 


How difficult or easy is the process of being registered with SEBI? 


December 2018 is the time when we got registered. It was seamless for us because it took anywhere between four to four-and-a-half months. All the documents that were required were clearly stated. 


Ours was a RIA (Registered Investment Advisor) license in a corporate structure. What I've heard is that if one is going for an RIA license, the paperwork is even less. 

If the license is not too tough to get, why not comply? The fees are not extremely hard in comparison to what the finfluencers earn and it takes three to four months to get registered. Why not take it and be on the safer side? 


What is your take on Advertising Standards Council of India (ASCI) asking finfluencers to display their educational qualifications or credentials while endorsing products or services? 

Say an engineer developed an interest in finance at a later stage and was not in a position to do an MBA or an MCom, although they should, if they are in this domain. But it's not possible for everyone. Plan B is to incorporate a company and hire a person who has the qualifications, and then take the license in the company's name. 


Finfluencers began to gain attention in 2020. From then until now, how have the opportunities in terms of brand partnerships evolved? 

 
We have never been a sponsorship-oriented business model. We rarely did brand promotions back then. And, we rarely do it today. The only visible trend I see is that no cryptocurrency apps approac (us).

 
Crypto apps were at their peak towards the end of 2020, and they were so desperate to get every finfluencer on board. I was not interested at all. After trying for months, they finally gave me an option wherein they asked me to come to a session with them.

 
They said I could take whatever money was required. They even gave me the option to criticise their brand. Today, I don't see a lot of such examples.

 
With the venture capital (VC) funding also drying up, we are not seeing 50 brands becoming unicorns like it used to happen in 2020 and 2021. It directly affects finfluencers because a lot of brands that come to influencers are actually D2C brands or start-ups wanting to scale immediately through them. If they don't have that kind of funding, I think all influencers get affected.

 

The full Budget 2024 will be read out after the new government is elected this year. What are your expectations then? 

 
There's always a debate between being too populist versus being too pragmatic. Whichever government comes into power, the old tax regime should end and some of its perks should be merged into the new tax regime. Thus, there should be one regime. 

 
Do you think that because of the actions of a few finfluencers which led to stringent actions being taken against them by SEBI, it has caused a negative impact on finfluencers who followed every rule to the T?

 
For people who are not trying to go viral overnight, things haven't changed much. People are more circumspect (unwilling to take risks), but I think that it's good. Because ultimately, not just in finance, but in health, law, and almost in all spheres, it's better if you are a little more circumspect. If SEBI initiates more action, it creates a barrier to entry and in the long run, it reduces competition. 

Read More: <a href="https://www.storyboard18.com/quantum-brief/interim-budget-2024-finfluencers-expect-women-centric-boost-direct-tax-relief-21413.htm">Interim Budget 2024: Finfluencers expect women-centric boost, direct tax relief</a>

Pranjal Kamra: With the election of the new government, the old tax regime should merge into the new tax regime

FM Nirmala Sitharaman has announced her sixth consecutive budget, this time in the form of an Interim Budget ahead of the upcoming parliamentary elections. This matches the record set by former Prime Minister Morarji Desai. Overall, it is looking up. From taxation, to ongoing subsidies and schemes for the rural class, to relaxations for startups and businesses, the budget has covered most gaps. Folks in advertising and marketing too seems to be quite pleased with everything drawn out by the FM in the budget for 2024. Harsha Razdan, CEO- South Asia, Dentsu talks about the prioritisation of the Budget, digital empowerment and more. 

<a href="https://www.storyboard18.com/quantum-brief/budget-2024-punit-goenka-foresees-golden-era-for-media-and-entertainment-amidst-10-billion-zee-sony-merger-turmoil-21567.htm">Read More: Budget 2024: Punit Goenka foresees golden era for media and entertainment</a>

“I'm pleased to see that the government's budget priorities include simplifying processes through digital empowerment. While we await the full budget, the interim one signals a commitment to nurturing strategic long-term investments and inclusive growth. The investment focus towards Infrastructure, Start-ups, Tourism, Women Empowerment, and Green Energy should stimulate consumption, boosting the economy and advertising expenditure. The budget also heralds a promising era for companies leveraging AI and market technology to drive a technology-driven economy,” he said. 

<a href="https://www.storyboard18.com/quantum-brief/budget-2024-pass-or-fail-what-madisons-sam-balsara-and-grapes-shradha-agarwal-think-about-budget-2024-21549.htm">Read More: Budget 2024 - Pass or Fail?: What Madison's Sam Balsara and Grapes' Shradha Agarwal think about Budget 2024</a>

“The focus on digital connectivity promises fresh avenues for innovation and expansion within the industry. The projected economic growth of 6-6.8 percent in the next fiscal year will continue to drive consumption and better advertising spending across diverse industries. However, the Industry was hoping for additional measures to boost rural consumption, and that could dampen advertising spends to an extent,” added Razdan. 

https://www.storyboard18.com/quantum-brief/budget-2024-what-gozoops-rohan-bhansali-and-mad-influences-gautam-madhavan-think-about-budget-2024-21587.htm

Budget 2024: What Dentsu's Harsha Razdan thinks about the Interim Budget 2024

FM Nirmala Sitharaman has announced the Interim Budget or the ‘Vote of Account’ for 2024 today. The Lok Sabha elections, which will be held between April and May, will see the newly elected government present the full budget for FY25. The government allocated Rs. 4,342.55 crore to the Ministry of Information and Broadcasting (MIB) for 2024-25. The figure is marginally lower than the Rs. 4,449.79 crore that was allocated in the previous fiscal year. Of the current allocation, Rs. 2,959.94 crore has been allocated to broadcasting. Rs. 1,088.16 crore has been allocated for Information and Publicity.

Here’s what leaders in advertising and marketing thought about the inclusions in the Interim Budget.

Punit Goenka, MD and CEO of ZEE Entertainment Enterprises Ltd., lauds the government's economic reforms on Budget day.

“The Government’s efforts to boost India’s economy through structured policy reforms will accelerate the development of our nation over the next few years. The steps taken by the finance minister to empower the youth by fuelling the entrepreneurial spirit and fostering innovation in technology through initiatives like the 1 lakh crore research corpus, creates a golden era for sunrise sectors such as media and entertainment,” he said. 

“The combination of youth and technology certainly holds immense potential and can lead to exciting new opportunities for content distribution and monetization, boosting the growth of the M&E sector at large,” Goenka added.

Goenka has been vocal about government initiatives. He even attended the grand Ram Mandir opening on January 22, 2024, the same day the $10 billion Zee-Sony faced termination.

On January 25, 2024, Goenka addressed Zee employees speaking about changing dynamics and opportunities in the media and entertainment space.

“Our industry is witnessing rapid changes, and these winds of change are giving us a new shape. We have to mould ourselves to be well-positioned in order to capitalise on the opportunities coming our way. We have been leaders over the last 3 decades and have delivered value to our stakeholders, year on year.We need to continue building on this momentum and fire on all cylinders,” he said.

Sam Balsara, Chairman, Madison World said, “This was a vote on account budget, so no major proposals were expected or being announced. However, in view of all the positive government actions taken in the last 10 years, I would expect that our consuming class which is already at 450 million should go to 800 million in the next 5 years. Those who take a cue from this and invest heavily in advertising over the next few years to strengthen their brands will reap huge benefits over the next 5 years.”

Harsha Razdan, CEO - South Asia, Dentsu said, “I’m pleased to see that the government's budget priorities include simplifying processes through digital empowerment. While we await the full budget, the interim one signals a commitment to nurturing strategic long-term investments and inclusive growth. The investment focus towards Infrastructure, Start-ups, Tourism, Women Empowerment, and Green Energy should stimulate consumption, boosting the economy and advertising expenditure. The budget also heralds a promising era for companies leveraging AI and market technology to drive a technology-driven economy.”
 
“The focus on digital connectivity promises fresh avenues for innovation and expansion within the industry. The projected economic growth of 6-6.8% in the next fiscal year will continue to drive consumption and better advertising spending across diverse industries. However, the Industry was hoping for additional measures to boost rural consumption, and that could dampen advertising spends to an extent,” he added.

Budget 2024 - Pass or Fail?: Reactions from M&E industry and media agencies

Finance minister Nirmala Sitharaman presented her sixth consecutive budget, matching the record set by former Prime Minister Morarji Desai, just ahead of the Parliamentary elections. Find out what the leaders of Haier, Agoda and Kalyan Jewellers had to say.


Krishna Rathi, Country Director India, Sri Lanka, and Maldives Agoda said, "2023 has been a year of remarkable growth for the Indian travel sector. As a digital travel platform, Agoda is committed to hassle-free and affordable travel experiences; domestically, for Indians traveling internationally, and for tourist visiting India from abroad. Agoda believes in the benefits of a cooperative approach between the travel industry and government bodies at both the state and Union levels. This will help effectively cater to the current travel dynamics. Agoda is enthusiastic about the future of India's travel sector and its potential for growth. We will play our part in helping India's travel sector thrive and are excited about the focus on the recommendations of the G20 working group on Tourism, public-private partnerships for innovation and impact, and the focus on connectivity in this budgetary update."

T S Kalyanaraman, Managing Director, Kalyan Jewellers said, “We welcome the interim budget announced by FM Nirmala Sitharaman, and commend the Government of India’s consistent efforts in ensuring inclusive growth as well as recognizing the pivotal role of women in economic transformation, through a diverse array of initiatives.
 
The country’s phenomenal growth trajectory and economic prowess in the past decade, has been nothing short of extraordinary, particularly the surge in FDI, which witnessed two-fold increase over the past two decades. As we celebrate the golden era, we would like to applaud PM Modi’s commitment and vision for fostering a thriving economic landscape. The ‘First Develop India’ (FDI) initiative, geared towards encouraging foreign partnerships, exemplifies a collaborative spirit towards economic progress. Furthermore, we believe the PM Vishwakarma Yojana is playing a critical role in empowering the India’s artisan community. With benefits extending across 18 trades, it symbolizes the Government of India’s holistic approach towards preserving traditional craftsmanship and contributing significantly to the nation's economic fabric.”

NS Satish, President, Haier Appliances India said, ""Haier India applauds the visionary approach of the interim FY25 budget announced by the Honourable Finance Minister today, particularly its focus on technology and innovation. These align perfectly with our commitment to advancing technology and delivering high-quality appliances. The new housing scheme for the middle class and initiatives to help slum dwellers as well as those living on rent is a welcomed move along with the 2 crore additional houses under the Pradhan Mantri Awas Yojna - Gramin in 5 years. The emphasis on upskilling the youth and creating a conducive ecosystem for business expansion is truly commendable and we are optimistic that this move will aid the industry’s overall growth. Moreover, the heightened focus on manufacturing and infrastructure is anticipated to have a favourable effect on our developmental trajectory. 

This year’s budget’s attention to people, research & development, innovation, and corporate taxation bodes well for the consumer durables sector. As we journey towards a 'Viksit Bharat' by 2047, Haier India remains steadfast in its commitment to ‘Make in India, Made for India’, and helping the country move towards its trillion-dollar economy goal.”
 
-          


Interim Budget 2024: FM Nirmala Sitharaman excludes update of crypto regulations and taxes

As per reports, BWA said that India leads in grassroots crypto adoption in the world and is the second largest market in terms of transaction volumes in 2023.

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