TMS Ep615: Wed in India, UPI payments, markets, Karpoori Thakur

With the rising wealth, more and more Indians are choosing exotic foreign destinations to get married. From humble Phuket to exquisite Italy, their favourite holiday spots are now doubling up as wedding destinations. But this trend is hitting the local wedding industry hard. Prime Minister Narendra Modi has repeatedly appealed to affluent Indians to ‘Wed in India’. So what will it take for ‘Wed in India’ to succeed? 

Meanwhile, an altogether different kind of marriage or tie up is promising to make our lives better. Google India and NPCI have joined hands to expand UPI for international payments. Reports suggest that Google Pay makes 26% of all online transactions in the world, and is among the top five mobile payment services. This initiative may therefore give a major push to India’s UPI to emerge as an alternative to the western international payment systems. 

NPCI has recently launched UPI for secondary markets. The aim is to streamline trading and increase security. Speaking of trading, Indian equities are stuck in high volatility as their sharp gains from last year face resistance in the first month of 2024. With foreign selling resuming and geopolitical tensions on a rise, how should you navigate the wild swings in the current market. Should you sell the rallies or buy the dips? 

Last week, Indian stocks saw the biggest outflow of foreign funds in 19 months. Clearly, after a record-breaking rally, investors were booking some profit. After the financial markets, let us now talk about socialism. About 35 years after his death, the government has now decided to honour prominent socialist leader Karpoori Thakur with Bharat Ratna -- the country’s highest civilian award. Listen to this episode of the podcast for answers.