OPINION, P10 WELL BEING Why getting screened for cancer (even when you are feeling fine) is important Page 9 Maharashtra is the prize FE LINES Make pro-level videos in minutes Page 6 Some AI tools for engaging videos EARLY DETECTION IS KEY TO FIGHTING CANCER ACROSS THE AISLE, P CHIDAMBARAM WORDS WORTH Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM Vol. 17 No. 36 BEING TAYLOR SWIFT OF LIT FINANCIAL EXPRESS ON SUNDAY MUMBAI SUNDAY, NOVEMBER 17, 2024, 14 Pages, `12 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , WHAT'S INSIDE C H A N D I G A R H , C H E N N A I , can either turn green seeing social media pictures of colourful parachutes dotting clearskies as people take to adventure tourism,or head there themselves. The latter is likely the case, as over 70% Gen Zs favour sky sports like paragliding, sky jumping and ballooning while In India, the first meal of the day is as vibrant as it is diverse—a healthy mix of nutrition, flavours and tradition. We take you on a culinary journey exploring nashta across the length and breadth of the country ■ LEISURE, P7 How entrepreneurs from the remote region of India are shaking up the alcobev landscape with their liquor brands, through premium small-batch offerings and product innovations already into its fourth edition of a skydiving festival just got over at Bir-Billing in Himachal Pradesh on vacation. Ujjain in Madhya Pradesh is already deep into its fourth edition of a skydiving festival, even as the paragliding world cup just got over at Bir-Billing in Asian equity markets Taiwan India (Nifty) Singapore Japan Malaysia China Philippines Hong Kong Indonesia Thailand South Korea 32.78 19.60 19.56 15.28 8.56 8.39 8.19 7.45 2.92 1.94 -2.81 Source: Bloomberg Malaysia, China andTaiwan saw declines ranging between 1.7% and 6.2%. — Compiled by Kishor Kadam 23,532.7 Nov 14, 2024 19,675.45 Nov 15, 2023 Nifty L U C K N O W , M U M B A I , N E W D E L H I , P U N E ■ Travel operator 7-14% Skyhigh India gets 120 bookings for Ujjain skydiving fest in less than a week Projected growth of adventure tourism in India over next five years Himachal Pradesh. Adventure tourism is big, and those in the sky have a special thrill. With adventure tourism in the country projected to grow at past two years. Uttarakhand, Himachal Pradesh and Madhya Pradesh are especially prioritising adventure tourism. EaseMyTrip co-founder Rikant Pittie said 72% of the Gen Z population prefers sky adventure tourism. “Sky adventure tourism in India has seen a surge in demand, driven by the growing interest from young India’s millennials and Gen Z population who are increasingly seeking adventure-driven experiences,” also noted Rajeev Kale, president and country head—holidays, MICE,visa,Thomas Cook (India). Growth of individual businesses of sky adventure operators in India in past two years 20% over the next five years, local sky adventure operators also say their individual businesses, especially adventures in the sky, are growing at 7% to 14% since the Continued on Page 2 Good economics is no Safe harbour clause for platforms needs longer bad politics: PM a revisit: Vaishnaw HITTING OUT AT earlier govern- 1-year return in % K O L K A T A , 20% ■ Paragliding world cup PRESS TRUST OF INDIA New Delhi, November 16 India 2nd-best performer among Asian countries K O C H I , ■ Ujjain in MP is ● Modi says his govt staying away from vote-bank politics One for the Northeast DESPITEA10% correction in Indian benchmark equity indices, they remain the second-best performers amongAsian equity markets, delivering a 19.6% return over the past year. Taiwan topped the list with a 32.78% one-year return, while Singapore (19.56%) and Japan (15.28%) were the other two nations to achieve double-digit returns. Following Donald Trump's victory in the US presidential elections, many Asian countries experienced a negative impact on their equity indices. In the Philippines and Hong Kong, equity indices fell by 8% each sinceTrump's win. During the same period, equity indices of South Korea, Indonesia, India,Thailand, H Y D E R A B A D , UPWARD MARCH ● Over 70% Gen Zs favour sky sports like skydiving, ballooning RESIDENTS OF SMOG-HIT cities On the breakfast trail READ TO LEAD Adventure tourism reaching for the skies REWATI KARAN New Delhi, November 16 ■ SPOTLIGHT, P5 Rooney at her best— laying bare complicated relationships Page 4 ments for bringing in schemes to please vote banks, Prime Minister Narendra Modi on Saturdaysaid his government’s purpose was miles awayfromvote-bank politics and it was moving aheadwith the mantra of progress of the people, by the people and for the people. Speakingatamediasummit,the PM said the biggest harm caused by the politics ofvote bank that earlier governments indulged in was that the scope of imbalanced inequality in the country kept increasing. He asserted that his dispensation had restored the faith of the people in the government. Recallingtheperiodof90swhen India had five elections in 10 years, Modi said there was so much instability in the country.“Experts, people writing in newspapers,had pre- PM NARENDRA MODI THE APPROACH OF OUR GOVT IS TO SPEND BIG FOR PEOPLE AND SAVE BIG FOR PEOPLE dictedthatIndiawillhavetolivelike this, everything will go on like this in India. But the citizens of India have once again proved such expertswrong,”he said.Noting that uncertainty and instability are being discussedand seen all around theworldwith manycountrieswitnessing change of governments in DISENGAGEMENT OVER, FOCUS ON DE-ESCALATION: EAM every election, Modi pointed out that at such a time, the people of India have chosen his government for the third time. “Earlier we used to often hear a phrase‘good economics is bad politics’. People known as experts used to promote it a lot. But earlier governments used to get an excuse to sit idle. In a way, it had become a medium to cover up bad governance,inefficiency,”Modi said. Earlier, the government was run just to win the next election and a vote bank was created to win the polls with schemes made to please that vote bank, he said in a swipe at thepastgovernmentsledbytheCongress.“The biggest harm caused by this type of politics was that the scope of imbalanced inequality in the country kept increasing. Development boards were installed but werenotvisible.Thisimbalancedsituation,thismodelbrokethepublic’s trust in the government.Today we have restored that trust,”Modi said. “We have decided the purpose of the government. This purpose is thousands of miles away from vote bank politics,”he said. Continued on Page 2 FE BUREAU New Delhi, November 16 AREAS OF CONCERN ■ Fair compensation for content creators THE GOVERNMENT ON Saturday reiterated its stance to revisit the safe harbour clause for social media intermediaries such as X, Telegram, Facebook, Instagram, etc, amid an increase in instances of misinformation and fake news over these platforms. This assumes significance as currently under Section 79 of the InformationTechnologyAct,2000, the platforms have immunity against legal prosecution for content posted by users. However, in case of removal of safe harbourclause orchanges in its contours,suchplatformswillthemselves become directly accountable for the user content and won’t be able to enjoy legal immunity. “Shouldn’t platforms operating in a context as complex as India adopt a different set of responsibilities? These pressing questions underline theneedforanewframework that ensures accountability and safeguards the social fabric of thenation,”informationandbroadcasting, electronics and information technology minister Ashwini ■ Algorithm bias of digital platforms ■ Impact of AI on intellectual property Vaishnaw said while speaking at a National Press Day event. Vaishnaw added that globally, debates are intensifying whether the safe harbour provisions are still appropriate, given their role in enabling thespread ofmisinformation, riots, and even acts of terrorism. The government talked about reconsidering the safe harbour clause last year during consultations on the Digital IndiaAct,which once implemented will replace the decades old ITAct,2000. Continued on Page 2 ● GLOBAL DAY OF ACTION Environmental activists gather during the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, on Saturday, on what is traditionally their biggest protest day during the two-week talks. The demonstration in Baku will be echoed at sites around the world in a global 'day of action' for climate justice that's become an annual event. The protesters are urging world leaders to commit to a strong climate finance deal THE DISENGAGEMENT part of the "problem" with China along the LAC in eastern Ladakh has been put at rest and the focus should now be on de-escalation, EAM S Jaishankar said. ■ PAGE 14 ADITYA BIRLA EYES SCALING BUSINESS ADITYA BIRLA Group has invested about $20 billion, mainly in manufacturing space, as it looks to be among the top two players across the segments it operates in, chairman KM Birla said, adding most of the group's investments are long-term. ■ PAGE 3 ■ REPORTS ON PAGE 14 REUTERS Dzire keeps the sedan flag flying high with consistent sales ● Just-launched new-gen model to further aid numbers VIKRAM CHAUDHARY New Delhi, November 16 SALES OF COMPACT sedans have been dropping over the years at the expense of compact SUVs, but this calendaryear,Maruti Suzuki’s Dzire hassingle-handedlyarrestedthefall. Numbers shared by the Society of Indian Automobile Manufacturers (Siam) show that compact sedan sales dropped just 4.3%— from 236,610 units last year to 226,381 units this year—despite no new launch and a waning inter- est in the segment. Within this, sales of the Dzire have, in fact, increased from 127,545 units during JanuaryOctober2023to139,636unitsduringJanuary-October2024—despite it being an outgoing model. The new-generationmodel,launchedon November11,isexpectedtofurther strengthen sales. Partho Banerjee, senior executive officer, marketing & sales, Maruti Suzuki India, told FE that there are 11 sedan models in India, and the Dzire contributes to more than 50% of sedan sales.“Within the compact or the sub-4 metre sedan segment, the Dzire contributes to 62% sales,”he said. On a per-model average, compactsedansarealmostmatchingup to compact SUVs (which sold a 50% DRIVEN BY DEMAND Compact sedan sales (units) Jan-Oct '23 Jan-Oct '24 236,610 226,381 Share of Dzire in sedan sales 62% Share of Dzire in compact or sub-4 metre sedan sales whopping 1,017,399 units during January-October 2024). For instance, the four compact sedans (Maruti Suzuki Dzire, Hyundai Aura, Honda Amaze, and Tata Tigor ICE plus EV) sold 226,381 unitsYTD (year-to-date)— Dzire sales (units) Jan-Oct '23 Jan-Oct '24 at a per-model average of 56,595 units—and the 1,017,399 units of compact SUVs were made up of 16 models, at a per-model average of 63,587 units. On December 4, Honda will launch the new-generation Amaze, 127,545 139,636 andwiththenewDzireitisexpected to breathe new life into sedans. Safety has become one of the top criteria for car purchase, and the new Dzire is Maruti Suzuki’s first-ever 5-star safety rated car,by Global NCAP.“This rating will defi- nitely bring new customers to the Dzire,”an analyst told FE.“In entrylevel models,good fuel efficiencyis important,and butwe go higherup the price range, the main buying criterion shifts to styling and safety.The Dzire’s 5-starsafetyrating is, in my opinion, its biggest USP,and will attract SUV buyers,as most SUVs are bought as they are ‘perceived’ to be safer than sedans and hatchbacks.” He added that consistent demand in the fleet segment also contributedtosalesoftheDzireand uplifted the compact sedan segment. “Fleet cars mostly run on CNG, and a sedan is much more convenient—as the CNG cylinder easily sits in the boot, without taking up much space, unlike an SUV that has a smaller boot,”he said. “Another reason is that the Dzire—asalsoAura—hasgainedgood word-of-mouth among fleet players as a no-nonsenseCNGvehicle.” Banerjee said that almost onethird of Dzire sales have been coming from the fleet segment. The new Dzire, however, won’t be sold to fleet players,and instead Maruti Suzuki has developed the Tour S sedan for them. But the Dzire and the Amaze, even together, won’t shift Indians en masse to sedans from SUVs. “These new launches will keep the interest in sedans alive, and even give them a marginal uptick in sales,” Gaurav Vangaal, associate director, light vehicle forecasting, S&P Global Mobility,told FE. Continued on Page 2