OPINION, P10 WELL BEING Menstrual cups are increasingly gaining prominence, especially in terms of environmental impact and efficacy Page 7 Gujarat: A model not to follow FE LINES Consumer behaviour is about experimentation and self-expression Page 9 Power to people YOUR GREEN PERIOD PARTNER ACROSS THE AISLE , P CHIDAMBARAM SPOTLIGHT Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL. XIX, NO. 13 BOOKYOUR SHOW KOLKATA SUNDAY, NOVEMBER 20, 2022, 16 Pages, `10 (NE States & Andaman `13) P U B L I S H E D F R O M : A H M E D A B A D , FINANCIAL EXPRESS ON SUNDAY B E N G A L U R U , WHAT'S INSIDE C H A N D I G A R H , Legacy musicians Rajasthani artiste Asin Khan Langa, one of the two Indian recipients of the Aga Khan Music Awards this year, talks about playing the Sindhi sarangi and folk music being an identity of his Langa community ■ WORDS WORTH, P4 The ground report First-person accounts of initiatives that heralded change in Indian society make for a worthy read IN THE NEWS CBI chargesheet against ABG ex-chief Agarwal The CBI has filed a chargesheet against former ABG group chairman Rishi Agarwal and others in the ABG Shipyard fraud case, reports PTI. ■ PAGE 3 Special export duties on iron, steel withdrawn THE CENTRE has removed export duties on steel and iron ore products imposed in May, reports fe Bureau in New Delhi. ■ PAGE 3 FTX kicks off strategic review of global assets FTX has launched a strategic review of its global assets and is preparing for sale or reorganisation of some businesses, reports Reuters. ■ PAGE 16 AIR INDIA WILL place ‘historic’ orderswith Boeing,Airbus and engine manufacturers for latest generationaircraft thatwill powerAir India’s medium and long-term growth, CEO and MD CampbellWilson said Saturday. Speaking at an event hosted bythe JRDTata Memorial Trust in Mumbai, Wilson said,“Attheriskofgrossunderstatement,the investmentwill be substantial.” Wilson also said the airline will increase its market share to at least 30% in domestic and international routes. AirIndia is tapping into the capabilitiesofTatagroup companies like Tata Technologies to design and manufacture parts to rid itself of supply chain issues that have crippled its domestic competitors like Indigo and Go First.AirIndia is also in the process of improving the interiors of all of its H Y D E R A B A D , K O C H I , COP27 nears deal on climate finance REUTERS Sharm El-Sheikh, Egypt, November 19 COUNTRIES WERE CONSIDERING adraftforafinalCOP27cli- mate deal on Saturday, with some negotiators saying they were close to a breakthrough in contentious efforts to compensate poor nations already burdenedbycostlyclimateimpacts. The UN climate agency released a new draft of the socalled cover decision on Saturday,but it was not immediately clear if all 197 governments at this year’s summit would back it. Hours earlier, officials from the European Union said they were ready to walk away from the talks if the deal did not advance efforts to curb global warming by requiring that countries take more ambitious action in cutting greenhouse gas emissions. “We’d rather have no decision than a bad decision,” EU climate policy ‘Historic’ Boeing & Airbus orders soon: Air India SWARAJ BAGGONKAR Mumbai, November 19 READ TO LEAD DRAFT RELEASED ● Considers new proposal for ‘loss & damage’ fund ■ LEISURE, P6 C H E N N A I , CAMPBELLWILSON CEO, AIR INDIA ❝ PLANET IN PERIL gaps remain in draft ■ All countries not on board nations want firmer goals on long-term action to meet targets chief FransTimmermanssaid. He expressed concern that some countries were resisting efforts to agree on bolder emissions cuts in this decade.He did not name the countries. The outcome of the two-week conference, which was meant to end on Friday, is seenasatestofglobalresolveto fight climate change, even as a warinEuropeandrampantconsumer inflation distract internationalattention. With countries still divided on a number of key topics on Saturday morning, Egypt’s K O L K A T A , L U C K N O W , M U M B A I , ■ European Union warned that it would walk away from a bad deal, as per its climate policy chief Frans Timmermans COP27 President Sameh Shoukryurgeddelegatesto“rise to the occasion” and unite around a final deal. The latest draft is not the final one, as it containsaplaceholderonfunding arrangements for“loss and damage” — the money demandedbydevelopingcountriessufferingdamagefromclimate-linked events like floods, drought and sea-level rise. But countries said they were near an greement for setting up such a fund. Continued on Page 2 N E W D E L H I , BRAZIL The most successful team with five World Cup titles to its name, it is the top pick. With Neymar, Vinícius Jr and others gunning the attack, the Selecao is the one to watch NEYMAR Just like Ronaldo and Messi, this could be the last chance to see a marquee player like Neymar in the greatest spectacle on Earth. He heads to Qatar with 75 goals, just two short of Pele's all-time scoring record for the Brazil national team. ARGENTINA The country has yet to clinch the title since 1986 when Diego Maradona led the side. But it has done well under coach Lionel Scaloni. With Lionel Messi at its core, the Argentines will be looking for their third title. CRISTIANO RONALDO 'Goal machine' Cristiano Ronaldo (the Portuguese captain has scored over 800 official senior career goals for club and country) will be another one to watch out for as he aims for his first World Cup title. LIONEL MESSI The Argentina captain, widely regarded as one of the greatest players of all time, had a fiery start to the season. This may be his last World Cup appearance, as he looks to finally accomplish his biggest goal -- lifting the trophy. Data fine may go past `500 crore JATIN GROVER New Delhi, November 19 THE QUANTUM OF penalties for data breach under the draft personal data protection Bill will be calculated based on the number of people affected, government sources said Saturday.“There is nothing in the language that says that `500 crore is for the entire data breach. The data protection board can take a view that if a thousand people are affected and there are a thousand complainants,thepenaltywouldbe calculatedbymultiplying`500 crorewith1,000,”asourcesaid. Continued on Page 2 Zomato to cut nearly 3% of staff FE BUREAU New Delhi, November 19 THE LAYOFF CRISIS at India’s widebody aircraft, including seats and inflight entertainmentsystems.Nextmonthwill seeAirIndiaoffering premium economy seat options on the long-haul routes to the US. The loss-making carrier, which was taken over by the Tata Group early this year, is undergoingitsbiggestrestructuring exercise. startups seem to be deepening with food-delivery platform Zomato saying on Saturday that it will lay off under 3% of its workforce of around 3,800 people. “There has been a regular performance-based churn of under 3% of our workforce, there’snothingmoretoit,”said a Zomato spokesperson. The layoffs come soon after three top-level exits from the company in the past few weeks. Zomato’s co-founder Mohit Gupta quit the organisationFriday,following exitsof initiatives head Rahul Ganjoo and former head of Intercity Legends service Siddharth Jhawar earlier this month. In May 2020,the company had let go of 520 employees,or 13% of its staff,due to a slowdown in business after the Covid-19 outbreak. Continued on Page 2 Continued on Page 2 Will increase market share to at least 30% in domestic & international routes Wedding biz set to touch new highs ● `3.75-trillion spends expected in this season FINDING A MATCH 83% Caterers by VAISHALI DAR New Delhi, November 19 BIG, FAT WEDDINGS are back after a two-year hiatus.A major rise in demand for hotel bookings, wedding planners and jewellery has set the cash registers ringing this year, as India is expected to solemnise 3.2 million weddings till December 14 with an expected trade of over`3.75 trillion.Last year, around 2.5 million weddings took place in the same period and wedding expenses were estimated at `3 trillion. Praveen Khandelwal, secretary general, Confederation of AllIndiaTraders(CAIT),said,“In This year’s wedding season has seen a rise in demand (y-o-y) for wedding services Searches for banquet halls up by Wedding jewellers by 57% 44% Delhi itself,350,000 weddings will be solemnised with a business volume of `75,000 crore. The 40-daywedding season till December 14 will see a good growth in the sector.” The wedding dates in November are 20, 21,24,25,27,28and30;andin Decemberare 4,5,7,8,9,14. Consequently, business queries for wedding planners have increased.“We have expe- rienced 60% growth in online traffic,aclearindicationthatthe number of people getting married thisyearis increasing,” said Anam Zubair, head of marketing,WeddingWireIndia,aglobal marketplace connecting engagedcoupleswithlocalweddingprofessionals.“Basedonan estimate of over 10-12 million weddings everyyear pre-Covid, the current booking scenario is P U N E As FIFA ‘22 kicks off today, watch out for... FRANCE The holders of the previous World Cup title, all eyes will be on France. But given that no team since Brazil in 1962 has retained the title, it will be interesting to see how France’s performance pans out. ■ Several ■ Some Literary works are often turned into movies or series. But what works and what doesn’t? Page 5 30% jump in overall demand for wedding services; Tier-II cities saw a 48% rise in demand, and Tier-I cities 22% Source: Justdial Consumer Insights report expectedtohavea20%increase in 2022and 2023,” she said. Overall expense or budget for families is also over 15% higher, and total spending increase across cities (upper middle class to HNIs) is about 12%,said ParthipThyagarajan, co-founder&CEO,WeddingSutra,aweddingplannercompany. Continued on Page 2 Kolkata
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