WHY INDIA PREFERS FINANCING FROM JAPAN FOR INFRASTRUCTURE PROJECTS INSTEAD OF DOMESTIC FINANCING One of the most important reason is the competitively low AUTHOR DETAILS interest rates but it is just the tip of the iceberg. As it is said, there is nothing called free lunch and Japan does not do a favour to India by providing loans at negligible interest rates. People think it is India who approaches Japan for financing its Infrastructural projects, but most of the time it is the other way round. Banks in Japan are flush with cash. Until 2018, they poured money into China but now China is flush with its own money Aditya Bhaumik and with introduction of new policies for boosting the country’s banking industry, it prefers to invest its own B.Com. Evening money. 1st Year Japan has had negative inflation rates in the recent years. They also have very low interest rates, as low to zero. What St. Xavier’s College this means is that they have the money but very few (Autonomous), Kolkata investment opportunities within Japan. So, they want to invest the money in other countries so that they can get returns. Since Japan is a developed country, so they do not get high interest rates like India by keeping their money in banks. So, they are trying to invest their money in the form of international loans. Since there is not much demand for domestic financing, it has turned out to be a necessity for Japan to finance international projects. Illustration 1 Also, the Japan International Cooperation Agency (JICA) gives loan for 0.5–2% p.a. and it is very feasible for India to take those Japanese money and use for our infrastructure projects. We can invest our money elsewhere which gives us high returns. Thus, it is a win-win situation where both India and Japan benefits.
returns. Thus, it’s a win-win situation where both India and Japan benefits. Illustration 2 From the above chart project financing through Japanese financial institutions is more feasible than from its Indian counterparts. Japan is funding 81% of the Mumbai-Ahmedabad Bullet Train Project with 0.1% interest. So, Japan is offering us a soft loan of $15 billion to help build our high- speed railway infrastructure but there is a catch. Remember that there are no free lunches in this world. It is a simple business strategy and an effective sales pitch. Japan offers us to give a soft loan of $15 billion at a rate of 0.1 percent interest rate but here comes the catch. Japan has offered to meet 80% of Mumbai-Ahmedabad high speed train project cost provided India buys 30% of the equipment including coaches and locomotives from Japanese firms. Presently, facing steep competition from low-cost Chinese High-Speed Rail firms, this move would give a big boost to the Japanese manufacturing sector considering that it would be awarded contracts worth billions of dollars soon when the rail project will be constructed. Why was the loan offered? Economic perspective: Japan, the world’s third largest economy has a declining population rate, and its youngsters are more focussed on their careers than on their personal relationships. So naturally the birth rate declines and their demography ages. The working population falls and there is a stall in consumption and hence demand. The economy undergoes stagnation. The resulting sovereign wealth fund i.e., the excess money (the accumulated forex and savings) of Japan is huge.
So, consider a situation like this – A shop keeper selling high end goods has his sales stagnating. He has accumulated profits over a period when sales were booming. Now his sales are not growing rapidly as they used to as the people in the locality are rich and all their needs are satisfied. So, the shop keeper comes up with an idea to take a particular amount of money from his accumulated profits and give some to a middle-class person as a cheap loan for his marriage ceremony if he buys at least 40% of the marriage requirements from his shop. This is a win-win situation. The middle-class person gets a cheap loan than those available in the market and the shopkeeper gets interest for his money albeit a small one and also increase his sales. Looking at this lucrative deal more persons may approach the said shopkeeper for similar deals. So, in the end the shopkeeper cleverly uses his idle money to gain goodwill, get interest and also increase his sales without losing anything. Similarly, India gets the money required to build its high-speed rail infra and Japanese companies are involved in supplying a substantial amount of equipment. Geo-political perspective: 1. Taming the Chinese Dragon: China has the largest high speed rail network in the planet. Their HSR system is cheaper than the Japanese shinkansen but the Japanese system has more reliability on safety. 2. China has been awarded the feasibility study of the HSR Network between Mumbai and Delhi. So, if there are two shopkeepers instead of one in the above analogy, then more competition results and consequently sweeter deals for India. 3. China has won the contract to build a HSR in Indonesia beating the Japanese. So, Japan hopes that the Mumbai-Ahmedabad deal will be swung in its favour by its soft financing. Japan also views aggressive Chinese investments overseas with suspicion as a tool for growing Chinese dominance in the S.E. Asian region and the financing of India’s bullet train project can be seen as a move to counter China’s dominance in this field. 4. Japan also views aggressive Chinese investments overseas with suspicion as a tool for growing Chinese dominance in the S.E. Asian region and the financing of India’s bullet train project can be seen as a move to counter China’s dominance in this field. The Japan International Cooperation Agency (JICA) is also funding various Metro rail projects in India: Overall, it has extended concessional ODA loans worth over 1 trillion Japanese Yen (approximately INR 60,000 crore) for the development of metro systems in Delhi, Kolkata, Bengaluru, Ahmedabad, Mumbai and Chennai. These concessional
loans were made available through the Japan International Cooperation Agency (JICA), at the interest rate ranging from 0.3% to 1.2% per annum with the repayment period ranging from 15 to 30 years including the grace period. Illustration 3 Things to keep in mind: The loans provided are in JPY, so the interest is not just 0.5–2.0%, it will have inflation difference as well, which may be anything from 2–5%. if we compare India’s and Japan’s inflation rate, there is difference of like 2% and we are supposed to pay back in yen so total interest rate=whatever the bank gives+2% Also, these loans are for specific projects which cannot be diverted for another project. More importantly, they have specific sourcing clauses as in requiring the project to use Japanese components. in other words, these JICA loans are to ensure demand for Japanese manufacturing, hence the low interest rates. References • www.Jica.go.jp • www.in.emb-japan.go.jp • www.quora.com • World Bank data on GDP deflator
FINANCIAL FREEDOM OR EMOTIONAL FREEDOM? At the age of 32, Alexander the Great, on his deathbed said – “My first desire is that my physicians alone must carry my AUTHOR DETAILS coffin. Secondly, I desire that when my coffin is being carried to the grave, the path leading to the graveyard be strewn with gold, silver and precious stones which I have collected in my treasury. My third and last wish is that both my hands be kept dangling out of my coffin.” The citizens, who had assembled there, were puzzled by the Navya Bahety king's unusual requests. No one, however, dared to question his wishes. Alexander's beloved general then kissed his hand B.M.S. and pressing them to his heart asked, “O king, we assure you that your wishes will all be fulfilled. 2nd Year But tell us why do you make such strange wishes?” St. Xavier’s College (Autonomous), Kolkata Taking a deep breath, Alexander replied, “I wwoouullddlilkikeeththeewworoldrldtotkonkownoowf tohfetthheretehlreesesolnessIohnasvIe hjuasvte just learnt. I want my plehayrsnitc.iaInwsatnot cmayrrpyhmysyicciaonffsintobceacraruysme ypecoopffliensbheocualudserepaeloizpelethat no doctor can really csuhroeualdnyrebaoldizye. Tthhaetynaoredpocotwoerrcleasnsraenadllcyacnunroet asnavyebaodpye.rsTohnefyrom the clutches of death. Saroeleptonwoetrplesosplaentdakceanlinfeotfosragvreanatpeedr.sTohnefsreocmontdhewicsluhtocfhsetsreowf ing gold, silver and other rdiecahtehs.oSnotlheet wnoatypteootphle gtarakveelyifaerfdorisgrtaontteeldl. pTehoepsleecothndatwnisoht oefven a fraction of gold will csotrmeweinwgitgholmd,es.ilIvesrpaenndt oatlhlemr ryiclhifees oenartnheinwgaryitcohtehsebguratvceaynarndoitsttaoke anything with me. Let pteellopeleoprleeatlhizaet ntohtaetvietnisa afrsahcteioenr wofagsotledowf itlilmcoemteo wchitahsmeew. eI aspltehn.t And about my third wish oafllhmayvliinfegemarynihnagnrdicshedsabnugtlicnagnnoout ttaokfetahneytchoifnfginw, iIthwmiseh. Lpeetoppeloeplteo know that I came empty hreaanlidzeedthianttiot tishiasswheoerrldwaasntde oefmtipmtey thoacnhdaesedwIegaoltho.uAt nodf tahbiosuwt moryld.” third wish of having my hands dangling out of the coffin, I wish people to know that I came empty handed into this world and empty handed I go out of this world.” Illustration 1
A popular term in our lexicon nowadays is ‘Financial Freedom’. We’ve all seen that captivating ad of a young millennial, on the beachside, who vowed financial freedom if you just purchased his book about how he became financially free by selling financial freedom. So, what exactly is financial freedom? We perceive financial freedom as the ability to make certain decisions without the fear of not being able to support yourself financially. This may include not having to bother about paying bills and groceries, moving out of the house, being able to quit a career that doesn't conform to your aspirations, or never having to work again, depending on your circumstances. What you need to do is determined by how you interpret financial freedom. You might be able to take time off from work if you shore up your savings. It’s freedom, but it’s temporary. So, what do you do if you intend to be financially independent in the long run? It all comes down to non-employment related income. If you want to free up time for other activities, you'll need a source of revenue that is not directly correlated to the number of physical hours you spend working. That means looking for new ways to increase your money, one of which is investing – be it in shares, royalties, bonds, or dividends (or anything else entirely). If you are able to set something up that supplies you with enough income to help you carry on, you're good to go. While a sound investment plan and portfolio will provide a source of income unrelated to your job, all investments come with risks, including the possibility of losing all or part of your capital investment, so you should seek impartial financial and legal advice before making any investment related decisions. Now, let’s talk about emotional freedom. Life is difficult. There is no denying that. We are all subjected to a great deal of pressure in our culture as well as by our society. To quote Buddhism – “pain is inevitable, suffering is optional”. Emotional freedom determines how you deal with or respond to life's challenges. It's a talent that necessitates a high degree of self-awareness as well as a great deal of practice. Gaining emotional freedom might include taking a long, hard look at yourself in order to critically analyse your decision-making processes, defence mechanisms, and all the gritty, painful experiences buried somewhere deep in your mind. But what’s the link between financial and emotional freedom? Your emotional state determines how you see things (including your finances) and whether or not you feel \"secure.\"
If you find your job to be meaningful and rewarding, and you're earning enough money doing things you like, you're unlikely to feel trapped by it. You might even believe you've achieved financial freedom even though you’re working a set number of hours every week. On the other hand, if you loathe your job, you might need to switch or retire entirely before you achieve that feeling of financial freedom. Your capacity to make such decisions can be influenced by your emotional freedom or lack thereof. If you're paralyzed by anxiety or doubt, you may miss out on a great opportunity when it comes your way. If you're feeling ashamed or unsure of who you are and what you desire, you may be hesitant to take the road-less-travelled, even if it aligns with your individual beliefs and goals. In these situations, self-awareness is paramount. Wouldn't you like to know if you're unable to do something because of an emotional block rather than a pragmatic one? Emotional freedom is essential for making the clearest, most well-informed rational decisions possible. If you really wish to achieve financial freedom through investments, you need to be making straightforward, clear and well-informed choices. Illustration 2 Freedom is not an accident. It needs dedication and a strategy. It's a calculated tactic that demands a great deal of effort, thought, and preparation. Since nothing can be taken for granted in this game, you should always be ready to start anew. As difficult as it is to achieve financial freedom, it is much more difficult and beneficial to achieve emotional freedom. What leads us to emotional freedom may also lead us to financial freedom... 1. Eliminate Excess – “You Need Less Than You Think” Nobody should have more than what they truly need. When you are chasing money, you wake up at 6 in the morning and work until you go to bed. You’re in a bad mood all the time – snapping at your family members with no time to see your friends. In fact, you don’t have time to enjoy anything.
This is not an unusual situation. In reality, these “I chased money” types of stories are more usual than the stories of the people who make it big. Even millionaires will remind you that money doesn’t buy happiness. Don't chase money, even if you believe it will provide you with financial freedom. It is not worth it if it comes at the expense of your emotional freedom. You always need way less than you think. If you are unhappy with your career, take a step back. Instead of being away from family, move closer and help them through other ways, not only financially but also emotionally, by simply being there. 2. More Money Equals More Problems We believe that more money is the solution to all our problems – “If I could only make some more, all of these problems will go away.” Though that is not how it works. Once upon a time, a very wealthy man said: “The more money you make, the bigger your problems become.” What he meant was that money has a cost. The more investments you make, the more money you risk losing. It's the same when it comes to starting a company. When an organization expands, so do the obligations and challenges. No matter how much money you have, life is never easy because of it. Illustration 3 3. Embrace Discomfort to Become Emotionally Free I don't expect you to shift your perspective towards life, right away, after reading this article. However, I do hope that you choose to strive for emotional freedom over amassing more money. Yes, money will buy you freedom, but you don't need a lot of it to do so. Keep in mind that more money equals more problems. That is why we must be emotionally strong. We can’t flip out at the first sight of real adversity. We must be tough and resilient in the face of discomfort because that is the first step towards living a happy and free life.
The sooner we realize that the ‘X’ on the map is not on some faraway island, but rather in our own hearts, the sooner we can start digging. Alexander the Great’s last words were, “Bury my body, do not build any monument, keep my hands outside [the coffin] so that the world knows the person who won the world had nothing in his hands when dying.” Now, I don’t want you to go out and start tossing your belongings out onto the streets, but do keep in mind that Alexander the Great commanded this to be done upon his death. Stuff doesn’t matter at the end, but that's because it’s the end. Strive for financial freedom, but don’t forget what the greats taught you: emotional freedom is even more liberating! “He has the most who is most content with the least.” — Diogenes References • https://dariusforoux.com/best-articles/#3 • https://www.spaceship.com.au/learn/emotional-freedom-vs-financial-freedom/ • https://medium.com/the-mission/emotional-freedom-vs-financial-freedom-the- philosopher-and-the-king-9eb8e76a3dc7
CHINA’S TECH ROADMAP: GOING FROM IMITATION TO INNOVATION “Has Сhinа surраssed the Teсh Giаnts, esрeсiаlly The U.S. tо beсоme the next biggest thing in the wоrld оf teсhnоlоgy аnd А.I., thаt histоry hаs ever witnessed?” In order to understand this let’s trаvel bасk in time. It wаs nоt long аgо thаt news like “Аlibаbа fасes роssible U.S. lаwsuit аfter fаke gооds rоw”, “Lоuis Vuittоn tаkes Сhinese e-tаiler tо HС оver fаkes”, “Huаwei: US issues new сhаrges оf AUTHOR DETAILS rасketeering аnd theft” аnd mаny mоre feаtured frequently in the heаdlines. Ashana Shanghvi This wаs beсаuse, fоr generаtiоns Сhinа’s strаtegy соmрrised of рlаying саtсh-uр аnd рiggybасking оn the wоrld’s leаding B.M.S. teсh соuntries inventоrs’ teсhnоlоgiсаl аdvаnсes with аn 3rd Year emрhаsis оn underрriсing the соmрetitiоn. Lаrgely knоwn fоr сорying mаrket-рrоven рrоduсts, brаnds аnd business mоdels St. Xavier’s College frоm the west аnd аdарting them fоr the lосаl mаrket with (Autonomous), Kolkata оnly minоr mоdifiсаtiоns, Сhinа eаrned the reрutаtiоn оf а “сорyсаt nаtiоn”. This саme tо be knоwn аs the соnсeрt оf shаnzhаi, а Сhinese term thаt wаs used tо desсribe the соunterfeiting оf соnsumer gооds, sрeсifiсаlly with trаdemаrk imitаtiоns аnd eleсtrоniсs. Соunterfeit рrоduсts in Сhinа reрresent а mаssive industry. A report by the UN office on Drug and Crime said that seventy percent of Chinese market accounted for counterfeit products in 2010. This соnсeрt wаs bасked by the Greаt Firewаll Роliсy whiсh bаsiсаlly соmрrised а соmрlex system оf сensus аnd gаtewаys thаt effeсtively quаrаntined Сhinа’s teсhnоlоgy eсоsystem blосking ассess tо the likes оf Fасebооk, Twitter аnd Instаgrаm. This enаbled the lосаls tо deliver serviсes withоut аny fоreign соmрetitiоn аnd build рlаtfоrms with а unique Сhinese flаvоur. This eventually led to the advent of innumerable business models that shared very similar grounds with that of the west. Sоme оf these inсlude: Bаidu аlsо саlled the “Gооgle оf Сhinа”, Аlibаbа аs the “eBаy оf Сhinа”, аnd Xiаоmi аs the “Аррle оf Сhinа”, just tо nаme а few. There аlsо hаve been саses оf industriаl esрiоnаge being filed аgаinst these Сhinese teсh соmраnies, Mоst рrоminently Huаwei which hаs fасed severаl intelleсtuаl рrорerty theft саses. Some of them are: • Steаling оf infоrmаtiоn аnd а рieсe оf соnfidentiаl T-Mоbile equiрment, fоr Tаррy the Rоbоt teсhnоlоgy. • Fоr аllegedly infringing оn its раtents аnd illegаlly сорying sоurсe соde used in its rоuters аnd switсhes оf the Сisсо Systems, or be it, • The Wind Turbine Саse where Sinоvel Wind Grоuр, а Сhinese соmраny, whiсh wаs соnviсted fоr steаling teсhnоlоgy, the eleсtrоniс brаins thаt run wind turbines, frоm Аmeriсаn Suрerсоnduсtоr Inс.
Illustration 1 Sо hоw did Сhinа mаnаge tо shrug оff this reрutаtiоn? “Fоr yeаrs, Siliсоn Vаlley lооked dоwn оn Сhinа teсh аnd believed it wаs оnly сорying. But tоdаy, there is аwаreness thаt Сhinа is innоvаting аnd getting аheаd in сertаin teсh аrenаs,” Rebeсса Fаnnin, аuthоr оf “Teсh Titаns оf Сhinа,” mentiоned in аn interview. The tаbles begаn turning when Сhinа referred tо its desire tо shrug оff this reрutаtiоn аnd tаke асtive steрs tо imрrоve bоth their rоle in innоvаtiоn аnd their imаge оn the wоrld stаge. By рutting in рlасe new lаws suсh аs the Mаde in Сhinа 2025 whiсh соmрrises а соmрlex аrсhiteсture оf рlаns аnd роliсies аimed аt generаting “innоvаtiоn-driven develорment” аnd “indigenоus innоvаtiоn” tо enаble Сhinа’s “nаtiоnаl rejuvenаtiоn”, Сhinа Stаndаrds 2035- Аlsо саlled the 15-yeаr blueрrint, оutlines its рlаns tо set the glоbаl stаndаrds fоr future teсhnоlоgies аnd а three-steр рrоgrаmme tо beсоme а wоrld leаder in аrtifiсiаl intelligenсe (АI) by 2030. With the rise оf stаrt-uр сlusters like Beijing, Shаnghаi, Shenzen аnd Hаngzhоu, Venture Eсоsystem аnd а lаrge рорulаtiоn оf teсh-sаvvy millenniаls Сhinа is emerging аs а tор threаt tо the Siliсоn Vаlley аnd is bаttling tо beсоme the wоrld’s lаrgest innоvаtiоn hub. Thоugh mаny Сhinese соmраnies stаrted оff аs а mere сорy, they hаve evоlved immensely аnd as a matter of fact give a tough competition to overpower the original ones. While Аlibаbа аdорted аn eBаy-like mоdel in its eаrly yeаrs, there have been several changes in its business models and today it саn best be desсribed аs а соmbinаtiоn оf the mоdels оf аt leаst three internet titаns – Gооgle, eBаy аnd Аmаzоn. Similаrly, Tenсent, whiсh lаunсhed WeСhаt in 2011, а simрle instаnt messenger mоbile аррliсаtiоn thаt grаduаlly evоlved intо а glоbаl “suрer арр”, with оne-stор hybrid feаtures оf Western mоdels suсh аs WhаtsАрр, Fасebооk, Instаgrаm, Skyрe, Uber, Tinder аnd оthers. Tоdаy, WeСhаt hаs 846 milliоn mоnthly асtive users wоrldwide.
Mоving оn tо the fields оf next-generаtiоn teсhnоlоgy like the Аrtifiсiаl Intelligenсe, Сhinа is giving а tоugh fight tо the high-teсh соuntries fоr teсhnоlоgiсаl suрremасy. In “The Suрerроwer Mаrаthоn” Сhinа is саtсhing uр rарidly. Five yeаrs аgо, twо оf the wоrld’s twenty mоst vаluаble internet соmраnies were Сhinese; tоdаy, nine аre. The “Seven Giаnts оf the АI аge”—Gооgle, Аmаzоn, Fасebооk, Miсrоsоft, Bаidu, Аlibаbа аnd Tenсent—аre sрlit оn either side оf the Расifiс. Here THE BАT соmрrises Сhinа’s Аrtifiсiаl Intelligenсe Рlаtfоrms оf the future- B – Bаidu whiсh is аn АI роwerhоuse with а wide vаriety оf рrоduсts аnd serviсes, аnd асtivities in industries rаnging frоm аutоmоtive tо heаlthсаre. It оffers vаriоus serviсes, inсluding а Сhinese seаrсh engine, аs well аs а mаррing serviсe саlled Bаidu Mарs. А – Аlibаbа whiсh is multinаtiоnаl teсhnоlоgy соmраny sрeсiаlizing in e-соmmerсe, retаil, Internet, аnd teсhnоlоgy. With its gigаntiс user bаse - the рlаtfоrm sаw 726M асtive users. T – Tenсent It is а huge соnglоmerаte hоlding. Whаt stаrted оut in 2011 аs а simрle messаging арр similаr tо WhаtsАрр, hаs in the meаntime аdvаnсed tо аn inсredible digitаl eсоsystem Сhinа dаily life саn’t gо withоut. Likewise, mаjоr breаkthrоugh hаs tаken рlасe in the lаnd оf 5G fоr Сhinа. This next- generаtiоn netwоrk will trаnsmit dаtа оver higher frequenсy signаls, оr wаves, thаt аre сlоser tоgether, trаvel shоrter distаnсes, аnd аre eаsily оbstruсted. It is the next mаjоr milestоne in exраnding the reасh оf mоbile netwоrks frоm соnneсting рeорle tо interсоnneсting аnd соntrоlling mасhines, оbjeсts, аnd рrасtiсаlly every deviсe оut there. It will deliver new levels оf рerfоrmаnсe аnd effiсienсy thаt will emроwer new user exрerienсes аnd соnneсt new industries аnd Сhinа is rоlling it оut mоnths аheаd оf sсhedule. Illustration 2 Huаwei Teсhnоlоgies, the соmраny whiсh filed mоre раtent аррliсаtiоns thаn аny оther соmраny, lаst yeаr, is аt the fоrefrоnt оf this shift. It dоminаtes this field with аn exрeсted 1.5 milliоn 5G bаse stаtiоns tо shiр, the соre building blосks оf 5G netwоrks glоbаlly. Hоwever, the United Stаtes, whiсh расed the wоrld in develорing
аnd deрlоying sо mаny оther trаnsfоrmаtive teсhnоlоgies, is fаlling behind in the 5G rасe, while Сhinа is sрrinting аheаd. While Аmeriса dоesn’t hаve а nаtiоnаl сhаmрiоn соmраny in this field – Quаlсоmm hаs Аmeriса’s lаrgest sрасe in the 5G mаrket – but it needs tо mоve fаst tо саtсh uр. The feаr is thаt the first соuntry tо build 5G netwоrks will hаve а heаd stаrt in develорing the emerging teсhnоlоgies that deрend оn 5G’s lоw-lаtenсy, high- thrоughрut wireless соnneсtivity. Hоwever, due tо the оngоing U.S-Сhinа trаde wаr, Huаwei in раrtiсulаr hаs been саught in the сrоsshаirs. The Сhinese teсhnоlоgy giаnt hаs been рut оn а U.S. blасklist knоwn аs the Entity List whiсh restriсts its ассess tо Аmeriсаn teсhnоlоgy with Рresident Dоnаld Trumр reрeаtedly сlаiming hоw dаngerоus it is tо trust Huаwei with dаtа рrivасy. But this hаs оnly shаrрened its fосus оn trying tо mаke mоre оf the соmроnents аnd sоftwаre it needs. The соmраny hаs been releаsing its оwn рrосessоrs fоr smаrtрhоnes аnd reсently unveiled its оwn орerаting system, in а bid tо beсоme less reliаnt оn the U.S. This Teсh Wаr hаs severаl bаttlefrоnts оther thаn аrtifiсiаl intelligenсe аnd 5G. Аmоng them аre: аviаtiоn, sрасe teсhnоlоgy, biоteсh, quаntum sсienсes, rоbоtiсs аnd militаry teсhnоlоgy wherein Сhinа is рerfоrming well. It is high time thаt the wоrld tаkes nоtiсe оf it sinсe the trend оf “reverse shаnzаi” shаll sооn be рrevаlent internаtiоnаlly аs Сhinа’s innоvаtiоn аnd entreрreneurshiр will thrive tо соntinue. References • https://itif.org/publications/2020/11/30/great-5g-race-china-really-beating- united-states • https://sbi.sydney.edu.au/chinas-copycat-tech-companies-now-ones-beat/ • https://www.cnbc.com/2019/09/30/chinas-70th-anniversary-us-technology- leadership-under-threat.html • https://www.channelnewsasia.com/news/cnainsider/how-china-copycat- technology-giant-rival-united-states-trade-war-11672428 • https://itif.org/publications/2021/01/25/who-winning-ai-race-china-eu-or-united- states-2021-update
THE VIRTUALITY OF AIRING SPORT IN A BUBBLE The global impact of the COVID-19 pandemic brought life across domains to a standstill, with sport being no exception as all leagues and tournaments were consigned to either cancellation or postponement. Given the prevailing limitations enforced by social distancing norms, it is unimaginable to foresee full-strength crowds at any sporting activity in the near future, but considering the commercial AUTHOR DETAILS implications associated with several high-profile tournaments across the world, simply cancelling such events indefinitely would never be viable. And so, sport did return when a Devansh Agarwal semblance of normalcy was restored, albeit at the cost of one of the defining elements of a live match: spectators at the B.M.S. stadium. This posed a unique challenge to the broadcasters in 3rd Year terms of simulating the desired experience for a sports fan both in terms of watching the game on television as well as St. Xavier’s College engaging with him/her akin to the fan attending the match at (Autonomous), Kolkata the stadium. While production teams brainstormed overtime to implement innovative ideas for the same, their reasonable success at retaining and even improving viewership numbers leads us to the question: does the ever-improving television coverage have the potential to replace the experience of watching a match from the stands? Before delving into the broadcast innovations for the new normal, it is worth acknowledging the growth of live coverage of sports in recent years. An unprecedented variety of camera angles, commentary feeds in diverse languages along with extensive presentation of statistics and data at the viewer’s disposal have combined to create an overwhelming yet convenient experience for a fan at the comfort of his couch. There have been attempts to add value to a stadium-going fan’s experience, such as English cricket’s host broadcaster Sky Sports providing headphones to seated attendees with access to the live commentary feed, and while that did please avid watchers of the game, it was definitely no substitute for the holistic television coverage package backed with visuals. The sheer volume and quality of information consumed by a fan watching a match on television has risen to a level that cannot be attained by one attending it at the stadium. Sports broadcasting in the post-pandemic world witnessed a variety of novelties that were received with mixed reactions. To mitigate the absence of a live audience for those watching on television, cardboard cut-outs were placed in the stands for Bundesliga matches, with viewers comparing this visual to ancient versions of FIFA video games. To facilitate fans’ virtual interaction during a live match and capture their reactions to passages of play, fan walls were created at various tournaments that would display fans cheering from their homes. The most noticeable innovation, however, still remains that oof of fake crowd noise to simulate the presence of spectators; while the broadcast gained necessary fervour to prevent the awkwardness of silence on a goal being scored, a six being hit, or a set being secured, the obvious unnatural character of the background cheers was too prominent to go unnoticed across all sports.
gained necessary fervour to prevent the awkwardness of silence on a goal being scored, a six being hit, or a set being secured, the obvious unnatural character of the background cheers was too prominent to go unnoticed across all sports. Illustration 1: Cardboard cut-outs used to replicate fans at Bundesliga matches Meanwhile, several sports venue specialists have also started envisaging how spectators could possibly be restored to stadiums with safety and conformance to social distancing norms. Apart from the precautionary measures and sanitisation provisions, there could be an increased number of loge boxes for isolated viewing while retaining the fans’ ability to feel the atmosphere at least sporadically. An organized entry and movement mechanism at stadiums along with contactless procedures at food stalls and restrooms will become focal points in the imminent future as venues across the world prepare to adapt to post-pandemic sport. Illustration 2: How would stadiums adapt to the post-pandemic requirements?
Since the challenge at hand in these dire times is bringing fans to the stadium, how about bringing the stadium to the fans? The one technology which could make this seemingly extravagant statement a possibility is that of Virtual Reality and its growth in the field of sports broadcasting would hold the key in the near future. It is not an alien concept to sport as it has been explored in the recent past. Star Sports trialled VR 360 at the 2018 Indian Premier League where fans could gain a stadium- like experience from home with a 360o view of the ground; it was cricket’s first attempt at VR and while the move did not prove sustainable, it gave viewers a glimpse into the future. More recently, Sky Sports offered a VR version of the entire Premier League season, and so have some other football tournaments been broadcasted worldwide too. Illustration 3: If fans can’t go to the stadium, the stadium will come to the fans through VR The reason why VR has immense potential to replicate the stadium experience is that it practically places the fan in the stadium itself through access to authentic pitch- viewing angles from the stands and live sound feed from the venue, simply by wearing a VR headset connected to a streaming device. In the audience-deprived and simulated-cheers broadcast, VR can possibly package diverse experiences for the viewer, such as those with and without the audience noise – the latter effectively enabling a fan to watch a match at the stadium as the lone spectator with access to stump mic sounds and player voices throughout the game. The application of VR to sports broadcasting has been a work-in-progress for a few years now without the breakthrough success that would catapult it into commercialization in global events; but its development is likely to gain momentum with the onset of the pandemic as broadcasters and event organizers hustle for ways to accelerate the process of their sports fan regaining his/her ultimate match-viewing experience. However, one must also acknowledge the fact that numerous aspects of physically watching a match at the stadium can neither be replicated by virtual reality, nor be compensated for by oceans of statistics on television coverage. Be it the spontaneous collective decision to get behind the home team through enthusiastic cheers, waving the team flag vociferously, engaging in rounds of Mexican waves and rhythmic claps,
or just the feel of soaking in an atmosphere of people in anticipation of what is to unfold a few metres in front of them- watching a live match at the stadium would remain elusive in its own way even in the face of technological advancements. The day is not far when a die-hard teenage fan of a sports team will request his dad to purchase the premium sports channel subscription instead of season tickets of the club; the convenient yet holistic television coverage of sport is likely to lure more and more avid students of the game towards it. If a technology in the mould of VR gains viability, this shift in preference could become even more rapid given the pandemic- enforced constraints likely to persist in the next few years. But the stadium experience won’t completely lose its relevance and will retain reasonable value particularly for high-stake encounters such as major rivalries and international tournaments; not to mention the traditionalists whose weekend is incomplete without attending a Premier League match or those who attend England’s test matches in a persona to vindicate the sport’s eliteness. The skeptics who might resist such a change must realize that it is not necessarily a negative when television coverage of a sport achieves supernormal growth as eventually a superior quality broadcast would expand the sport’s reach exponentially as compared to the in-house attendance at a match which shall always remain limited to the stadium’s capacity. In the extreme scenario of ticketing becoming a challenge at sports events, there will always be relatively convenient ways for organizers to innovate and attract spectators through on-site engagement. Hence, the rise of a fan’s “virtual stadium experience” must be fostered by all means and purposes as this is certainly the future of sports broadcasting. At a juncture when all sporting activity is confined to a “bubble”, it is now time for fans to revel the optimum sport-watching experience in their own bubble. References • https://darkroom.ribaj.com/1400/c1e9ef245b37cd8f80761d876d4a3804:0d80e45 4d012180e5bd427d36a244c37 • https://images.indianexpress.com/2020/06/virtual-reality-sports.jpg • https://pbs.twimg.com/media/EWdhCq1XkAMjTon.jpg
Inconversationwith SOURAV GANGULY 1.Yourabilityto handleextremepressurewasvindicated throughyoursuccessatthedualroleofbattingandcaptaincy. Canmentalresolveandfortitudebeacquired,orisitanin-born trait? Youlearnwithtime,varioussituationsteachyoutobecomestronger butwhenyou’reyoungletyournaturalinstinctstakeoverandwith experiencesyoulearnhowtohandlesituations.Nothingisaborn trait,situationmakesyouunderstandthings. 2.Accordingtoyou,istheageofplayersperceivedastoo signicantafactorin Indian cricketascompared toother countries? No,Idon’tthinkso.Ithinkitisthesameallover.Ipersonallybelieve thatageisjustanumberandperformancesareimportantbutone mustunderstandafteracertainpointagedocatchupandthereare processesinplaceofbuildingateam whetheryouwanttobringa young playerin,world cupscome in between.So allthose preparationsin uenceaplayer’scareer. 3.Youbelongedtoanerawherefootballwasmorepopularthan cricketinWestBengal.Beingafootballeryourself,howdidthis shifthappenandwhatdidyoulearnfrom footballthatyou appliedincricket? IthinkonceInishedschoolmyfathertookmetocricket.Stillthen footballwasmuchpopularthancricketandIusetojustplaynot thinkingofanything,andtheshifthappenednaturally,Ithink,was selected fordifferentagegroup teamsforthestateand kept performing and then obviouslygotpicked in myinterestgot increasedalotmoreasIkeptplayingthesportandIthinkfrom footballmyballsensedevelopedalot.Ballsenseinsportisvery importantbecausewhetheryouplaycricketortennisorfootball,a ballisinvolvedwhetheritisabiggerballorasmallercricketballora yellowishtennisball,ballsensealsoisveryimportant. 4.Men'scricketinIndiaisabundantinitsrichesofskilldepth andbenchstrength.IntheBCCI'sendeavourtocreatea similartalentpoolforthewomen'sgame,whatarethe stepsbeingimplemented? Ithink itisa very good question,yes,a lotof investmentsaregoingthroughinthewomen’sgame. Yousee,weholdthewomen’sIPL,there’sawomen’s worldcupcomingin‘22,inNewZealand.Ifyoulookat thelastwomen’sworldcup,Indiawenttothe nalsin Australia,86,000peoplewatched that(tournament) watchedthatnalintheMCG.Women’scricketisonthe highandtheBCCIinvestsasmuchastheydoinmen’s crickettodevelopwomen’scricketandIthinkitisa greatprogress,youknow,I’m abigbelieverinwomen powerandhopefullytheywillalsogetbetter. 120
5.IfayoungIndianplayeristochoosebetweenacountystintandan face ofdwindling interestfor testcricketand increased IPLcontract,whatwouldyoursuggestionbe,andwhy? viewershipforlimited-oversmatches? ObviouslyI’mbeingabitselsh,IPLcontractwillbebetteroffbecauseit’s Ithinkallthreeformatswillsurvive.Testcricketisstillthebestformof alotofmoneyinashorterperiodoftimebutasmuchasIsaythat,Ibelieve cricketandit’sarealtestofyourability,T20isfastandquickand thatifyougetanopportunitytoplaycountycricketyoumust.IPL nishes peopleenjoythesixesandthefours,limitedoverscrickethasitsown byMayandcountycricketgoesontillSeptember.So,ifyougetan place.Ithinkallformatswillhavetheirownplaceandwillcontinueto opportunityasayoungplayeryoumustplay. growinthissport. 6.WhilethenewlybuiltNarendraModiStadium atAhmedabad, 10.Whathasbeenyourbiggestmanageriallearningthusfaras boastingofworld-classfacilitieshasmadeeveryIndianproud,onthe presidentoftheBCCI? othersideofthecoinarealmostallothercricketstadiumsinthe Ithinkdelegatingwork.DelegatingworktheCOVIDtimeshasbeen countrythatconsistofpoorsanitationandhygienearrangementsfor challengingsoyoustartedtoworkthroughvideoconferencingand spectators.DoestheBCCIhaveplanstotransform thesanitation meetingsonthecomputerandyourealisethatworkcanstillbedone facilitiesatthesevenuesinordertoenhanceafan'sexperienceof whenyouareindifferentpartsofthecountry.Progressofworktakes attendingamatch? place,soithasgivenanopportunitytostilldoworkand businessoutsideyourownstatepurviewandstillmake Yes,wehaveplanstotransform thesanitationbutalotofthe itsuccessful. stadiumshavebeenupgraded.Ithinkitisabitofamisnomer thatthesanitationfacilitiesarenotgood,actually,youneed tovisitthem tounderstand.ButIagreewithyouthat 11.AsthePresidentofBCCI,areyoucontentwith thechangesthatyouhavebroughtinyourtenure upgradationalwaysisveryveryimportant. sofar.Ifgivenachance,wouldyouhavedone 7.Youplacealotofemphasisonpromotingnon-cricket somethingsdifferently? sportsinthecountry.Whatshouldbedonetoincrease YesIam,butIthinkCOVID hadreallycreated awareness and subsequently augment India's issuesoverthelastoneyearwherealotofthings competitivenessatothersports? evenifyouwantedtodoyoucouldnotdo Ithinkeverysporthasitsownplace.YouseetheISL,the becauseofsafetyandhealthhazards.IthinkI’m happywithwhatIhavedone,butyes,asyou footballwhichhasreallydevelopedoverthelast6-7years saidthereisalwaysscopeofdoingbetter. andI’vebeeninvolvedinitfrom day1.Ithinkthequalityof sportsisveryimportant.Facilities,howmuchtrainingthey getisveryveryimportant.Theadvantagewithcricketis 12.Asalovedandhonouredmember ofthe Xaverian family,we’d be it’smanagedbytheboard,theprivateboard.Ithink obligedifyoucouldsharesome the facilities provided with cricket are phenomenal,you look atthe stadiums words of wisdom with the youthofourcollege. around theworld,around thecountry, theyarealltopclass.Ithinkfootball needsthatsortofaninfrastructure.It’s You know I’ve thoroughly agreatsportforme,football.Tennis enjoyed my time at St. isontheriseinIndia,it’salwaysatits Xavier’s.Itwasagreatschool ownplace.Badmintonisonthe andcollegetobein.Iplayeda wayup,soI rmlybelievethat lotofsportsandstudied.My thereisaplaceforeverysportin sport actually got better ourcountry. because-of-the opportunities the school providedandIthinkallof 8.Given the power India youatayoungageshould holds in the dynamic of usethisfacilitywhetherit’s worldcricket,doyouthink cricket,football,basketball, wehavearesponsibilityof tennis, table tennis any promoting it towards sportyouwanttoplay.For morenationsinthequest me,atayoungagethisisthe ofmakingitatrulyglobal ageofbuildingyourtalent sport? and character and Yes,Iagree butthiswill everything, so, give everythingyouhave,work slowlytaketime.It’snotlike hard,don’t look at easy football, a lot of infrastructure needsto be options,it’sverynaturalthat youknowwhenyougettired createdandwedohelpother ofworking dayin and day nations otherthan the 12 countriesplaying testcricket out.Youlookatshortcutsbut don’tdoitbecausewhatyou and world tournaments,there do now,whatyou investin are so many otherassociating memberswhoareactuallyplaying yourselfnowwillreapbenets foryouthroughoutyourlife.So very well. Countries like, Oman, makesure,youdoeverything Thailand, UAE, Scotland they are associate members,butthey are really properlyatthisstageofyourlife becausethisisthebuildingstage. comeforwardinsportandBCCIdosupport Itisastagewhereyourcharacter them. andcareergrows,soworkveryvery hardsothatyouenjoythebenets 9.How doyouforeseethecoexistenceof fortherestofyourlife. cricket'sthreeformatsinthelongrun,inthe 121
“What business entrepreneurs are to the economy, social entrepreneurs are to social change. They are the driven, creative individuals who question the status quo, exploit new opportunities, refuse to give up, and remake the world for the better.” Amidst boundless graphs that the records hold, there happens to exist a life changing graph of the concept which revolutionised the world – the graph of Social Entrepreneurship. Thriving on a unique combination of both business ethics and societal values together, it seeks to etch an impact on the society. While popularized by Gen X, social entrepreneurs have long existed in history. The 19th century happens to treasure innovators like Florence Nightingale and landscape architect Frederick Law Olmsted who were working on social entrepreneurship years ago. What interests a social entrepreneur to start a business is not just the pursuit of profits but also greater social good. They may seek to produce environmental-friendly products, serve an underserved community, or focus on philanthropic activities.Every social entrepreneurship venture revolves around a unique story and here are some stories, worth sharing: GRAMEEN CHARITY BANK WATER charity: water Professor Muhammad Yunus is best Scott Harrison gave up his life of luxury in known for popularizing microfinance New York City to work with Mercy Ships, a and microcredit, two pillars of the Nobel hospital ship charity based in West Africa. prize winning venture, Grameen Bank, The trip was a turning point for Harrison, established in 1983. Grameen Bank is who formed charity water in 2006 to concentrated on the principles of trust provide clean and potable drinking water and cooperation to provide villagers with to people in 28 countries around the the financial resources they need to lift world. The organization had completed themselves out of poverty. According to 51,438 projects in developing countries as the Grameen Bank, women make up 97 of 2020. percent of its 9.31 million borrowers as of SAFE POINT February 2020, and that they repay their loans at a rate of 98 percent. TRUST ASHOKA I N N O V A T O R S Mark Koska redesigned medical instruments, creating a one-time-use, low-cost syringe for use in low-income Bill Drayton is considered one among our clinics. This breakthrough protects generation's most innovative social against the spread of blood-borne entrepreneurs. In 1981, Drayton founded diseases. In 2006, Koska created the Safe Ashok Innovators for the general public, a Point Trust, which used his \"auto-disable\" non-profit organization dedicated to syringes to deliver 4 billion safe injections discovering and helping social in 40 countries. In 2015, Koska was entrepreneurs round the world. Their named one among the Schwab stated mission is \"to shape a worldwide, Foundation's Social Entrepreneurs of the entrepreneurial, competitive citizen Year for his innovative approach to a sector: one that permits social worldwide health issue. Later on, a entrepreneurs to thrive and enables the worldwide policy on safe injections was world's citizens to think and act as announced by the World Health change makers\". Organization (WHO). 126
TOM SHOE HELPSY Alex Husted founded Helpsy in 2017 with a group of friends on the environmental In 2006, Mycoskie, company's chief shoe mission of reducing textile waste by giver and founder, founded Toms Shoes creating greater convenience to recycle by investing $300,000 of his own capital. old clothes. Since its inception, Helpsy TOMS originally promised to donate one has placed 1,800 collection containers pair of shoes for each pair sold, and the throughout the Northeast U.S., and company has since expanded its “One- within the last year they collected over 25 For-One” program to incorporate water, million pounds of garments. They believe hearing, birth, and anti-bullying that 95% of all clothing, shoes and other programs. Mycoskie has raised textiles are often given a second life but awareness about topics like global unfortunately over 85% just finishes up poverty and health through the TOMS within the trash. brand. The organization has delivered 95 million pairs of shoes and 722,000 weeks DEXTERITY of unpolluted water to people in GLOBAL developing countries. Furthermore, the TOMS Eyewear service has helped Born and brought up in Bihar, Sharad, a 780,000 people regain their sight by 26 year old social entrepreneur is on a providing them with prescription glasses mission of connecting children from or surgery. remotest area with best opportunities with a belief that the next generation of SOCIAL leaders are sitting in the classrooms now, WORKS and if given the proper opportunity, can change the entire world. With this AND vision, he founded Dexterity Global at RESEARCH the age of 16, and has provided opportunities to around 1.2 million CENTRE students. Being one among the few Indians to be enlisted within the Forbes Sanjit Roy is on a mission to change the 30 under 30 lists and also one among the concept of poverty and inequity. With few to reject a masters degree from this noble purpose, he formed an NGO Harvard University. Social Works and Research Centre (SWRC). This NGO takes care of the property alleviation across rural areas of the nation. Pure drinking water has always been a persistent crisis. Roy addressed the water problem by training villagers to line up water pumps and its maintenance. In 2013, Roy was felicitated by TIME magazine as one of the world’s top 100 most influential people for his effort in making 3 million villagers accessible to water. 127
@DOMESTICATION The theory of domestication deals The new technology experiences a With the onset of the pandemic, with how technology is accepted, phasewhere it is added to daily the world shutdown and used or rejected by people and routines and becomes of value to everything shifted online. Life took covers analyses and descriptions the user and his/her environment. a monotonous and uninteresting of processes that govern these In simpler terms, it is the process of turn. At this moment in time, new choices. When a new form of adopting the changes in the social media trends became one of media is introduced, it has to be environment and adapting to them. the main sources of first amalgamated into the The year 2020 witnessed entertainment. This led to ‘domestic’ households’ lives. domestication on a whole new domestication in marketing as level. well. Social Media trends have often Companies like Zomato have a given birth to many businesses and penchant to use every popular marketing ideas. Viral and meme meme, viral video, and other marketing were already gaining means of relatable content pace but they became one of the available on social media to most used marketing techniques in promote themselves and reach 2020. Businesses made use of viral their audience in the most videos and posts to promote their receptive possible way. brands. 129
McDonalds, KFC and Burger King marketing stunts of Burger King, have long been “frenemies”. one that stood out the most was a These rival fast-food brands statement posted by the company undertake numerous eye- requesting its customers to eat catching marketing campaigns from its sister food chains, offline, but their tweets are what specifically McDonalds, to support attract the maximum the working staff during the engagement. Among the various pandemic. Apart from viral posts and memes, as an extended branch of the number of influencers and marketing. A lot of service content creators has also providers like “Play Social”, a UK- augmented. Many people took up based social media marketing influencing and content creation company specialising in influencer on social media platforms during marketing, emerged during this the lockdown phase and gained period of media revolution. Play quick popularity- in some cases, Social connects brands with even overnight. Influencer influencers that are most suitable Marketing has gained prominence for their product and/or service. Netflix India collaborated with the most popular content creators of 2020 including Vishnu Kaushal, Niharika NM, Aishwariya Mohanraj, and Krutikato among others to promote the streaming platform’s series and movies through videos posted on their social media page. The continual rise of Artificial following. Lil Miquela, a teenage Intelligence has shown that the Instagram model, was created by usage of computers and bots need Brud, a Los-Angeles based start- not be restricted to just analytics up led by McFedries. Miquela is and research; they can play a role one of the most popular virtual in influencer marketing too. Virtual influencers with 3M followers. influencers have blurred the lines This character has been between reality and fiction- they photographed with many are computer generated human celebrities including Diplo, Millie avatars with a huge social media Bobby Brown, Samantha Urbani, 130
and many more. She has been small businesses reach their most suitable alternative for interviewed by numerous target audience at affordable his/her business.Through its publications such as Vogue, costs. It provides sponsored ads algorithm, Instagram places BuzzFeed, and The Cut, and has in the form of story ads, photo these postsin the news feeds of also collaborated with luxury ads, video ads, carousel ads, the relevant target audiences for brands such as Prada, Calvin Klein collection ads, and ads in the the brand after studying the etc. “Explore” section, each at users’ scrolling patterns and Apart from these established different prices such that the assessing the users’ potential brands, Instagram has helped entrepreneur can choose the interests. On the back of the short video commenced, and it has proved to catching the eye of Instagram application Tiktok being banned be very successful. Instagram users even if they don’t follow a in India, the introduction of the moved Reels to a dedicated space particular creator’s account. “Reels'' feature revolutionized on the user profile page, and now Famous content creators Instagram Marketing. India is the features Reels in its explore including Ammy Virk, Kusha fourth country after Germany, section, if posted by a public Kapila, Komal Pandey,Gippy France, and Brazil where the account. This facilitates the Grewal, RJ Abhinav, Arjun testing of this feature potential of Reels to go viral by Kanungo, Ankush Bahuguna, and Radhika Bangia were roped in influencers who started from media platforms. Trends that topopulate Reels with unique scratch post the TikTok ban. emerged in this period were content. The platform introduced Small business owners use reels unique and diversified from one hashtags such as #feelitreelit and to connect with their audience on another. While the marketing #feelkaroreelkaro that allowed a personal level by creating short industry’s shift from offline to users to follow and see reels videos of them making, packing, online seems likely to persist, it which use these hashtags. This or creating the product. 2020 was remains to be seen which trend also encouraged many the year that revolutionized social retains its relevance in the long run. The content on social media at an unprecedented high, and so sustainable which survive has always been dynamic; what is the demand to consume such obsolescence post the initial makes the crucial difference is content given the remote nature “trending” period and continue to the impact a particular piece of of work and entertainment alike innovate by adding value to the content has on its consumers. in the new normal. Hence only consumer experience. We are at a stage where the those means of engaging on quality of social media content is social media will prove to be 131
Top brands going head-to-head in public ads create iconic marketing. There is plenty of healthy brand rivalry to watch on a regular basis, from popular rivalries between Coca- Cola and PepsiCo, to an all-out ad battle between many car manufacturers. These opponents can now ask their supporters to weigh in, thanks to the digital and social media age. These wars lasted decades, and some were relatively recent, but they were all very public. The majority of the shots fired were actually published in magazines or shown on billboards. There's nothing like a friendly (or not-so-friendly) rivalry to pique people's attention. Let's take a look at our detailed set of marketing brand wars. Samsung has never been afraid to take potshots at BMW and Audi are known for going at each Apple directly, be it their events or through their other for quite some years now. Whether it is commercials, and they have always been brilliant at it. about car award shows or new car models, they Their ads effectively manage to make fun of the keep throwing jabs at each other. iPhone - highlighting the historic iPhone The most recent \"billboard battle” started when shortcomings, while positioning Samsung Galaxy Audi posted an ad for its latest A4 with the devices as the obvious choice. Samsung’s new headline \"Your Move, BMW\", fueled by bravado. campaign compares its Galaxy S III cell phone with the BMW cleverly countered it with a bold shot of a iPhone 5. Fans of the iPhone have been creating 3-Series and the uber-confident line: parodies of ads from the Samsung campaign including \"Checkmate.\" headlines like “Don’t settle for cheap plastic” and “In Audi, it seems, was not content to lick its high school, it doesn’t take a genius to understand who wounds and had raised the stakes by putting is just a bully.” up a billboard right next to \"Checkmate\" In 2010, Steve Jobs well stated that, “No one is ever featuring its exotic R8 with the slogan \"Your going to buy a big phone” – and Samsung can hardly pawn is no match for our king”. Perhaps, you hold its behavior. By using this quote, they promoted would be expecting the Bavarian boys to show the Galaxy Note 4 with the hashtag #MoreThanBig and off their stunning new electric i8 and declare a the quote - “Guess who surprised themselves and truce with the phrase \"Touche?\" There was a changed their minds”. slim chance. Instead, they took out the zeppelin and flew it over the Audi, tethered it to the R8 board, and announced \"Game Over\" with an F1 car, just as the Germans had done in previous wars. 132
Those even slightly involved in the \"Console Wars\" couldn't help but imagine a situation where Sonic the Hedgehog took on Mario when upstart Sega wanted to go up against newly developed Nintendo, which at the time dominated nearly 90% of the gaming industry. Sega's strategy was especially ingenious in that, while gaming was still considered a juvenile pastime, they sought to corner the market on teenagers who craved more realism, paving the way for games like Mortal Kombat, which developed gaming's first age rating system. Sega, Nintendo, and the Fight That Defined a Generation, showed that the industry could potentially surpass the 60 billion dollars in revenue it generates today. Having a sound rivalry with the opponents is always part and parcel of business strategy. FedEX and DHL are such arch-rivals in the domain of logistics. They inconsistently come up with billboards and promotions that overtly mock one another. One such epic brand war that is worth taking a gander at, is this one. Here is FedEX conspicuously conveying that it delivers faster than DHL. DHL is not one to be silenced and ricocheted back with an epic troll. We can’t say that such exhibitions benefit the business of the companies, but it does engage the customers with the exuded creative distinction applied in these wars but both FedEX and DHL have leveraged such fights to gain more consumers by hitting the right chords and pinpointing their benefit over their adversaries in a clever manner. 133
THE COLOUR CODE AUTHOR DETAILS Illustration 1 (Source: Photo has been created on Canva) Kashish Khemka What if the colours of the McDonald's logo and that of Apple were B.Com. Evening interchanged? Would the white arches in the grey background still successfully lure you in for a quick bite just like the golden-yellow 2nd Year arches with the huge red background do? St. Xavier’s College (Autonomous), Kolkata Well, it may fail to do so. A consumer takes a prima facie decision within 90 seconds which is completely driven by the visual appeal of the product. Each colour evokes a different emotion based on its spectrum location thus making the use of colour psychology pertinent for engendering brand identity. The colour red often raises the heart rate and creates extreme emotions making it perfect for fast- food chains like McDonald's, Pizza Hut, KFC etc. trying to tempt you for a quick lip-smacking bite. The Yellow arches fill the heart with joy thus attracts the kids a lot. The colour grey brings a sense of standard and sophistication making it suitable for high-end companies like Apple. Subway sticks to its 3-colour palette i.e., green, yellow and white as they are symbolic of the brand vision. The colour 'white' is often associated with a clean slate and hence finds a place in the Subway logo as a representative of the customisation the brand offers in making the sub. The green and yellow give the perfectly happy and healthy vibes. Had the yellow been substituted for a bright red, it would fail to create the light-hearted feel the brand opts for. The veritable role colour plays in creating a brand identity and influencing consumer psychology is evident from the extremes that brands have undergone to protect their colour. Cadbury trademarked its signature purple 'Pantone 2685C' for chocolates in bar/tablet form in 1995 and tried extending its cover to other chocolates in 2004. However, it ended up in a legal battle with Nestle and lost the same as it was considered too broad. The world-renowned Tiffany trademarked its bright blue colour named Tiffany Blue which is prominent in their 'Blue Book' in addition to their boxes as the brand considers it to be their distinctive feature. 134
The vibrant pink colour visible in all Barbie products has been trademarked by Mattel to cover more than 100 categories of products. A mere colour change can depict the change in brand persona. McDonald's has been infamous for its unethical and non-environment friendly practices in its raw material procurement and daily operations. After facing pressure from activists and organisations across Europe, it finally started adopting green practices and changed the red with green as a representation of the same. Coca-Cola replaced its red cans with white cans for a month to support the efforts of the World Wildlife Fund for protecting polar bears. Thus, colour branding plays an inevitable role in reinforcing brand identities and creates mental associations which is crucial for creating brand memorability among the consumers and increases the success rate of all other marketing campaigns by effectively portraying the brand vision. Changes in branding colours can communicate the values or campaigns the company supports and acts as an excellent marketing gimmick. So, the next time you see a purple wrapper and you subconsciously associate it with Cadbury or you get lured into the McDonald's outlet, you've probably given yourself up to colour psychology. References • https://blog.hubspot.com/marketing/psychology-of-color • https://econsultancy.com/how-brands-use-colour-psychology-to-reinforce-their- identities/ • https://www.mentalfloss.com/article/27396/9-trademarked-colors • https://www.bobvila.com/slideshow/8-colors-you-didn-t-know-were- trademarked-51732 135
LET POCKETS TALK EQUALITY Do we need any more articles justifying how unjust the society is on grounds of gender? Or how the females are still struggling to take the reins of their own fundamental rights? Our generation has walked way past the debate if women AUTHOR DETAILS deserve equal rights to men. We succeeded in recognising the Rishita Sethia need for equality in laying strong foundations for the society, however, failed to curb its violation. Look around yourself and B.M.S. you’ll find ample instances of such discrimination. From the preliminary right of birth to equal payroll, we know how equally equality is balanced. Over the years, we as a society have lived with this bigotry to 1st Year the extent that it has become a part of our lives. Most of us now even fail to classify this as a discrimination. From St. Xavier’s College relatives advising not to wear something for being too skinny (Autonomous), Kolkata or plump to a politician accusing a woman for wearing a short dress to attract more eyes, we have witnessed liberty and equality. Not just the weather and occasion are determinants for women when it comes to deciding what to wear. Unfortunately, the time and attendees of the event, mode of transportation play a role as well. Do you sense some equality here? The inequality is not limited to being judged for how one dresses but it goes way beyond to how the garments are designed. Forget the greater issues, let’s look into those tiny pockets in female outfits. In a survey conducted on 80 pairs of jeans of different brands, the following facts were highlighted: • On average, the pockets in women’s jeans are 48% shorter and 6.5% narrower than men’s pockets. • Only 40% of women’s front pockets can fit a wallet specially designed to fit in front pockets. • Only 10% of women’s pockets can fit a lady's hand in them. This puts forth a silent conclusion- It’s high time that women clothing walks an extra mile from being visually appealing to being practical and functional. The objective of designing female clothes needs a shift from shapewear to comfort. There is a long history to this pocket discrimination.
Illustration 1 Illustration 2 Medieval Period In the Medieval period, both men and women carried their bags around their waist or suspended from their belts. However, in the 17th century, criminals and pickpockets rose in number. This ignited the need to conceal these bags and hence marked the birth of POCKETS. These pockets were sewed beneath the different layers of the garments. Men’s pockets were sewn into the linings of their coats, waistcoats and breeches
which were easily accessible. On the other end, women had pockets tied around their waist, between their under- petticoat and petticoat. They had to undress and only then could they access the contents of their pockets. These pockets essentially did not serve the purpose of being able to carry their important articles out. Weren’t these pockets so well designed!? Late 18th Century - The French Revolution In the 1790s, pockets began to disappear from women's fashion. Credits to the French Revolution for glamorising wide skirts that screamed decadence and precious stones in yards of fabric. Skirts pulled in closer to the body and the silhouette narrowed to a slender column. This fashion did not allow women to carry their articles and marked the innovation of another accessory, the reticule. These small decorative bags could barely fit a coin or a handkerchief. There are rumours that during the Revolution, both the external and internal pockets were banished from women’s garments to restrict them from concealing revolutionary material. \"The dress must follow the body of a woman, not the body following the shape of the dress.\" – Hubert de Givenchy This is a testimony of how women were made to depend on their male counterparts for money and necessities. They had negligible access to money or property. Could you hear the pockets talk about equality? 20th Century This century witnessed the emergence of rebellions. There were campaigns led by the Rational Dress Society demanding women’s fashion to be more functional and comfortable. Instruction manuals on how to sew pockets into skirts became popular. In the advent of the World War, women switched to more practical clothing, then trousers and large pockets being the norm. Illustration 3
Back to Square One No, the pocket politics is not yet over. The patriarchy was deep rooted and not even a war could erode it. Post war, women were expected to exude femininity and return to their former dressings. Women clothing was shrinking narrower and pockets were a luxury limited to men again. This paved way for the handbag industry and pockets were no longer seen essential. The War and Revolutions are over but not the pocket inequality. But why? Apparently, we still want women to depend on men outdoors for stuff they can't carry. Or is it so to fuel the handbag industry? Are pockets way too expensive to demand? - A few more inches of material and labour won’t affect the final pricing much or make the garment unaffordable. Pockets are a bad fashion! - Women beauty is still characterised by slim and narrow figures where pockets are a hindrance. Also, aren’t pockets affecting men's fashion? Without any denial, everyone should have the right to dress the way they want. Opting for a garment with or without pockets should also be an independent decision. However, since ages women have been denied this freedom. Perhaps pockets might seem to be a trivial issue but they symbolise the deeply rooted sexist history of this patriarchal society. References • https://lifehacker.com/confirmed-the-pockets-on-womens-pants-are-indeed- bulls-1828371022 • https://pudding.cool/2018/08/pockets/ • https://www.vox.com/2016/9/19/12865560/politics-of-pockets-suffragettes- women • https://medium.com/verve-up/the-bewildering-and-sexist-history-of-womens- pockets-1edf3a98117 • https://www.quora.com/Why-does-womens-clothing-often-have-small-or- nonexistent-pockets
VOICE TURNED VIOLENCE? “People have a moral responsibility to disobey unjust laws.” – Martin Luther King Jr. “A statement or action expressing disapproval or objection” is how the Oxford Dictionary defines the word protest. This definition is quite mainstream generally people underestimate the power that “protest” holds. For instance, AUTHOR DETAILS protest for some might mean to burn down cars or shops or for some others to shatter down the windows and other fragile things such as human bones? And some others go to a next Sayantani Singha level in defining this term by physically attacking others and justifying their hatred as if causing harm to the society would B.Com. (Evening) highlight victimizing the cause more. Regarded as a 1st Year democratic right, protests have now reached new leaps and bounds. They are also looked up as something absurd and St. Xavier’s College (Autonomous), Kolkata cumbersome to another class of society, who would rather prefer zipping up their thoughts and swallowing up whatever injustice has been served to them on a plate. Yes, protests are a way to voice one’s opinion but that does not involve voicing our opinion at the cost of someone else’s health and ultimately causing them financial and physical loss. What starts from an incident of injustice or inhumanity results in causing damage to the entire economy. Banners, parades, fire, commotion and strikes are what define the modern day protest. When we see something around us which is not pleasing to the eye or mind, we tend to say it out loud, be it through writing, speech or drawings. We convey the message that we are not here to tolerate this and it needs to change before things worsen. That is the power that protests give us. They give a voice to the dumb and hope to the victims that the injustice has ended with them and will not be tolerated further. Most importantly, it warns the future culprits of the repercussions that they would have to face if they dared provoke the public. Illustration 1
Now, a question that arises is that have protests always been that way? Have people always been taking out their anger and frustration by way of violence? The answer is No. What might have been solved by hunger strikes in the past decades are being solved by attacking the armed forces in the present day. The evolution of protests is also contributed by the media who like to sugar-coat the information and have created a trend of ornamentalism for selling whatever they can. What might look displeasing on the TV screen are not necessarily the events taking place in that order. Many a time the sentiments of the people are not considered because the media is too busy “selling” news to the mass. In some cases what we see today is not genuine protests but violence driven by aggression and hatred. But whom do we blame here? Is the media at fault? Or is it the people who come out on the streets or the government who refuses to hear those people out? Or is it the circumstances that have led to what protests are today? One historical event that paved the way for protests and more importantly, a democracy was the signing of the Magna Carta where the people rebelled against the unjust King who had to give in to their demands. It marked the beginning of a society where the people had the power to raise their voices and make a change. In India too, the Dandi March, Hunger Strikes and other such protests gave hope to the people to fight for a cause- their freedom from an oppressive government. Today we see protests being organised through social media platforms as well. Facebook pages and posts are created for a cause and everyone across the globe have access to them, to join and show their support. Celebrities also take part in the protests as their presence can reach out far and wide and they believe that joining hands with others would make a difference. Tracing back the evolution again, we also find that the generation gap is also a factor. People like our grandparents or their parents would sometimes associate negativity with protests, where it might be futile to rebel against someone rather than just tolerating it. Our generation is unlikely to agree to that. We believe that someone who is tolerating the injustice is equally to be blamed as much as the culprit. Unless and until a change is made or the ones at fault are not punished, we don’t tend to keep quiet. Illustration 2 Over the years, we have seen a number of protests, conducted regionally or globally.
But certain such incidents happened that left the entire world shaken and wounded. “Black Lives Matter” in 2020 provoked protests which lasted over weeks. It saw the destruction of public property, attacks on the police and people marching on the streets without an end ahead. The slogan has become a trend since 2013 with the innocent killing of Trayvon Martin. It was followed by the killing of two African- Americans in 2014. The movement gathered its peak when George Floyd, an Afro- American was killed by a police officer. He died begging for breath and longing for his mother. The internet was on fumes after that. The coming weeks saw people from different parts of the world marching on the streets, seeking justice and answers. But what was not right was the result of the protests. Police had to arrest people who were not actually connected to the demonstration and caused vandalism. Over the days, tear gas and rubber bullets became a common sight which was an indicator that the protests were not proceeding in a good direction and this caused more concern and unrest among the public who became more aggressive and vengeful. Last year also saw several protests against Mainland China and the bill it proposed which imposed a threat to the Hongkongers. They felt that taking the criminal suspects to China would result in them being exposed to unjust laws and punishments and thus Hong Kong saw one of the most brutal days ahead, where people were stabbed, shot, things were broken and it seemed that it had become more of a “violence show” rather than a “show of non-acceptance”. Xi Jinping, the Chinese President had even warned against more lives being lost if anyone tried to divide China which was even more disturbing. After continued days of unrest in Hong Kong, the bill had finally been withdrawn. Illustration 3 On 26th January 2021, when India was celebrating Republic Day, the Red Fort witnessed an alarmingly destructive protest by the Indian farmers. A protest which was agreed upon to be a non-violent one, conducted on pre-specified routes, saw every possible way to violate the agreement. Angry farmers marched on the streets, attacked the police, broke the barricades, vandalised public property and most importantly, the religious Sikh flag was hoisted near the National Flag which was looked upon as a national insult. The anger was caused by the passing of three Farm bills which could hamper the growth of the farmers. But the protesters deviated from
the agenda and caused harm to property and the nation in general. People all over the country sympathised with the farmers because what had been decided for them was unjust and the bills would mostly benefit the rich, corporate world. But nobody was on the same side with them in regard to how they did the demonstration. Democracy does not mean promoting unrest just because we have the voice and the right to object. Sadly, the debate over bills still prevails. Illustration 4 Speaking numerically, where does the world stand in terms of the number of protests done from 2019-2020? Through the following graph, we see the relative comparison of the two said years. According to sources, the pandemic brought with it hopes that the number of protests would decrease. But it was found that in April already, the number of protests had surged to a high level, approximately one new anti- government protest every four days. The graph here shows that in comparison to 2019 the number of protests has increased almost every month in 2020, by a huge margin. Bulgaria, Chile, Hong Kong, Lebanon, Venezuela and Sudan are some nations that experienced the waves of mass demonstrations over days and weeks. These revolved around police brutality, the government passed bills, corruption and several other social issues. We also saw the rise of several protests related to the pandemic. In Brazil, people went against their president, Jair Bolsonaro, who failed to take the necessary measures to control the virus in the country. The street vendors in Malawi went on to protest against the lockdown fearing that it would shut down the businesses, their only source of livelihood. Looking at the current global trend, it would be safe to conclude that in the long run, the coming months or years are going to face a further increase in the number of protests. “The cure is worse than the Disease” is a famous proverb that we are accustomed to. Certain times when we try to solve a problem, we unknowingly add to it thus making it worse. Protests often turn out to be that way. We see people deviating from the issue and causing health hazards instead. What our generation needs to understand is that breaking or destroying things are not the ultimate solution. Just because we are burning public property and injuring the innocent, justice is not served. Justice must be earned rather than seized. Yes, protests are by far one of the biggest assets that humankind has to make the world a better place. But protests done in the wrong
way can also prove to be the biggest weapon to turn the society into a living hell. On the mission of seeking justice for one person, we are risking the lives of many who get shot, beaten or locked up behind the bars. As the proverb goes, “You cannot clap with only one hand”, that way the protesters are also not the only ones to be blamed. The Government needs to be more democratic and attentive towards social issues, the media needs to stop the way it portrays certain incidents superfluously. Illustration 5 Now, the responsibility of making a decision is completely up to us. Would we look at it from the ‘glass half full’ perspective, i.e., at the brighter side of protests and change its current definition which has become a taboo. Or would we look at it from the ‘glass half empty’ perspective and support the destruction that present-day protests are associated with? Illustration 5 References • carnegieendowment.org • economist.com • www.google.com
INSIGHTS INTO HOW COVID-19 IMPACTED AND CAUSED A SHIFT IN THE SYSTEM OF THE COUNTRY AND IMPACTED THE YOUTH The covid-19 pandemic has impinged the education system of the country, and with it the youth excruciatingly. The pernicious influences of the pandemic have caused series of transformations in the different spheres of the country. This formidable virus is also the reason for the confinement of the people, as well as the closure of educational centres. It has also ensued different emergency policy initiatives such as the AUTHOR DETAILS transfer of face-to-face education to online mode with the use of information and communication technologies, pioneering the use of new and innovative learning styles. Faced with this Prapti Kedia unprecedented virus, teachers who were new to the online platform and were unprepared had to adapt to various new B.M.S. methodological and pedagogical tools at a pace of real urgency, causing situations of high levels of stress, anguish, 1st Year and anxiety. There has been a huge paradigm shift in the St. Xavier’s College Indian education system that goes beyond the merely (Autonomous), Kolkata methodological. This shift from classroom to computers was imperative for the safety of students, instructors, and all the other staff members and so that the teaching and learning process does not come to a standstill. To facilitate the learning process, the education system endeavoured to provide continuity through online classes and create a climate analogous to the schools and promote positive emotions. While the shift seems to be a logical solution, it does have some evident ramifications. Due to the abrupt shift towards online learning, especially in a country like India, where the backbone for online learning was not ready, has created passive and apathetic learners. The knowledge gain from these lengthy online classes is bare minimal, mainly because the tedious and hectic schedule has dwindled their attention span. With these physical classes, many physical exams are also ceased, and the students are expected to participate in online examinations, belying its true purpose. Speaking of examinations, the offline examinations that were conducted when the whole country was following strict covid measures, was unfair to the aspirants who could not step out of their house to give exams. Adding to that, there has been unequal access to information and communication technologies because of the lack of resources, poor training of parents for distance learning, and an increase in the digital divide, thereby leaving a large proportion of students untouched. These deprived students who were dependent on schools for healthy food, no longer have access to mid-day meals during this time and are now subject to economic and social stress. Universities and colleges are facing a huge risk in student recruitment and retention, as the possibility of students dropping out has increased, which has also pushed colleges and universities to change their format. However, this invincible virus has also brought some new opportunities that will transform the higher education system worldwide, especially in a developing country like India.
a developing country like India. Illustration 1 Marvin Minsky once said - \"You don't understand anything until you learn it in more than one way.\" Which holds very true in today’s scenario. The new hybrid model of learning has opened doors for physical learning along with online mode which has become a norm and will also push new ways to deliver quality content. This will also promote openness, collaborations across the nation, and transparency in academics. Teachers after having the required training will become more technology savvy, which brings immense opportunity in curriculum development. It will also prove to be a big shot for companies who have been developing and strengthening learning management systems for the use of schools, colleges, and universities. COVID-19 has upended every aspect of our lives. Even before the onset of the pandemic, social and economic integration was difficult, but now if urgent action is not taken- young people are likely to suffer systematic, deep, and long-lasting impacts with regards to employment, education, and their wellbeing as a whole.it has been daunting for both young women and men, as they are vulnerable to the greater societal shifts and are concerned about their place in the future. It has also inflicted a serious toll on young workers, ravaging their employment and turning them into a bunch of wasted resources. People who were employed, have either lost their jobs, or are working for a pittance. It has led to greater loss in productivity, leading to anguish and depression. Since it was the company’s responsibility to make work conducive, working from home became the future of many youths. In the blink of an eye, people’s couches became their office, with no stringent working hours. They came up with innovative ideas on how to respond to the crisis. Confinement has also increased the risk of domestic violence and other forms of abuse, including child trafficking and online bullying. Adding to that, we know that child labour was a harsh
reality before corona, but the pandemic has exacerbated this reality, as this has become their necessity. All in all, only by working hand in hand with and for the youth of our nation, we can prevent this crisis from not having a potentially long-lasting impact on young people’s lives. Illustration 2 Note: All the infographics used are original. References • https://www.longdom.org/abstract/impact-of-covid-10-pandemic-on-education- system-in-india-and-world-wide-57328.html • https://www.outlookindia.com/website/story/opinion-long-term-positive-impact- of-covid-on-indian-education/377497 • https://www.longdom.org/abstract/impact-of-covid-10-pandemic-on-education- system-in-india-and-world-wide-57328.html • https://government.economictimes.indiatimes.com/news/education/covid-19- pandemic-impact-and-strategies-for-education-sector-in-india/75173099 • https://www.sciencedirect.com/science/article/pii/S2666518220300115 • https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_753060/lang-- en/index.htm • https://www.globalchildforum.org/blog/the-effects-of-covid-19-on-young-people/ • https://timesofindia.indiatimes.com/readersblog/your-souls-muse/impact-of- covid-19-on-india-youth-27234/ • https://www.google.com/url?q=https://m.economictimes.com/news/company/cor porate-trends/companies-see-work-from-home-as-a-viable-long-term-option-if- regulatory-issues-can-be-addressed/articleshow/74985839.cms&usg=AFQjCNF
THE MUSIC STREAMING MARKET: GROWTH AND FUTURE Music is believed to be the voice of God. Music has been one of the forms of art that has gained most recognition. This art is what soothes the mind and the heart, releases stress and even acts as a form of communication. From the gharanas to every home, music has emerged to be an important source of entertainment. Music is also a source of income. The music industry is worth more than 20 billion dollars and in the past AUTHOR DETAILS two decades, Music streaming has seen an unexpected growth. Abhay Ashok Let us begin from the 2000’s when Apple started with the Kansal release of the 1st iPod. Music before that was the monopoly of B.Sc. Statistics the physical market, including CD’s and cassette tapes. But as years passed, the physical market started seeing a decline. 1st Year The golden age of the CD, which generated worldwide revenue, suffered an earthquake when Apple launched St. Xavier’s College iTunes in 2003. The revenue of the market fell by 60 percent (source: IFPI), wiping out more than 15 billion dollars of (Autonomous), Kolkata annual revenue. Excess iPods and MP3 players started gaining markets and this easily carriable property had led to a new dimension in music streaming. But soon in 2008, Spotify, launched itself in parts of Europe. Who knew, Spotify, which started itself with minimum resources would emerge as the most popular music streaming platform with a market of more than 400 million dollars. Apple launched Apple Music in 2015, three years after Spotify who had started acquiring US markets since 2013, and it was the services which Apple offered which made people pay. But making profits in this market was never easy. Spotify made its 1st profit in 2019. But it is not only the companies who are making profits, the consumers too are. Spotify has announced hundreds of plans to spend money amounting to 200 million dollars on podcasts. Podcasts with its exclusive contents help Spotify generate ad revenues. There had been a giant leap in the paid consumers on Spotify during the 2020 COVID pandemic where music streaming subscribers turned out to be more than 400 million with Spotify solely having more than 160 million paid subscribers. The Michelle Obama Podcast was the most listened to podcast in the world in 2020-21. “This is just the beginning” says experts who predict that the market is going to take more leaps. According to a China-based Tencent Music Entertainment group, there has been a 70% increase in its online subscribers. Now, after knowing the broadness of the music streaming market, let us discuss the reasons for the rise in the market, worthy competitors, and future. The reason behind the rise of the industry is the growth in the number of smartphone users. Music is seen as a stress buster and now with increase in career opportunities in this field and music being a necessary part of relaxation has seen a growth. Music is now not only limited to playback singers but also many entertainment groups, artists xx
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