Hey folks!

Something strange is happening in India’s healthcare sector. Private equity firms are snapping up majority stakes in hospital chains.

For instance, Temasek recently acquired a 59% stake in Manipal Hospitals, while Blackstone took control of CARE Hospitals and Kerala’s KIMS. And this is just the tip of the iceberg. Many more hospital chains are catching the eye of private equity investors.

But why is this happening? And what does it mean for you and me?

Find out in our latest video, right here!

With that out of the way, let’s skip to the rest of the edition.

Ever considered farming as a career or even a post-retirement plan?

Well, turns out David Beckham, the former England football captain, has embraced a passion for it! He’s now growing kale, tending flowers and even extracting honey at home.

But it got us thinking — how do people, especially younger generations, view farming today?

Across the globe, the farming population is ageing without younger replacements. In the US, the average farmer is 58 years old. In Japan, it’s 67. And one-third of European farmers are over 65. The situation is similar in India, where less than 0.5% of undergraduates enrol in agricultural courses.

With older farmers retiring and fewer younger people stepping in, we could face a major food crisis.

But what if the younger generation brought their modern knowledge and skills to farming? Maybe even on a small scale — growing food on your balcony or terrace?

David Beckham’s into it. Maybe you could be next?

Here's a soundtrack to put you in the mood 🎵

Kaala Kaayiso Kade by Charan Raj

You can thank our reader Manvitha for this beautiful rec. Now, let’s get cracking!

A couple of things caught our eye this week 👀

What’s making basmati rice king?

Demand for basmati rice is skyrocketing. And it’s not us saying this. Rice sellers are seeing it!

So, why the sudden rise, you ask?

First off, India is the largest producer and exporter of basmati rice globally. Last year, our basmati exports grew by 15%, hitting a record 52 lakh tonnes and bringing in over ₹48,900 crores. Much of this demand came from countries like Saudi Arabia and Iraq, where basmati was in high demand.

Also, India’s basmati is being preferred in the EU (European Union), especially after Pakistan’s basmati was rejected for not meeting its pesticide residue standards. On the flip side, India’s basmati, with its GI tag, easily meets those standards, boosting its appeal.

Plus, the government has just removed the Minimum Export Price (MEP) for basmati rice. This rule, which was set to protect local supplies and control prices, required exporters to sell at a minimum price. With this rule now gone, the export process for basmati rice will be smoother and faster. And this change also means that farmers have the potential to earn more.

But it’s not just about exports. Basmati rice is flying off the shelves right here in India, and you can thank biryani for that!

Biryani is quickly becoming India’s favourite fast food. In fact, it’s even more popular than pizza! In 2023, Swiggy sold 2.5 biryanis every second, and Zomato saw over 10 crore biryani orders that year, making it the most-ordered dish on both platforms.

And with this biryani craze, restaurants are ordering more basmati rice, leading to a surge in bulk sales. For example, LT Foods, which sells Daawat and Royal brand basmati rice, now gets 22% of its domestic sales from restaurants, hotels and caterers, up from 20% last year. Meanwhile, KRBL Ltd.’s bulk pack (over 30 kg) demand for India Gate basmati rice has surpassed that of consumer packs.

So yeah, whether it’s exports or biryani, basmati rice is having its moment in the spotlight!

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India tops the plastic problem charts. What Now?

India just snagged a title no one wants ― The world’s biggest plastic polluter!

Yup, that’s right. We’re generating a jaw dropping 93 lakh tonnes of plastic waste every year, which makes up 20% of global plastic emissions. For context, China, which once topped the list, is now in fourth place.

So, what’s behind India’s plastic problem?

Well, it’s all about rapid urbanisation, lack of waste collection facilities and our love for convenience ― particularly single-use plastics like bags, bottles and packaging. And the thing with these plastics is that they don’t just disappear. They stick around for decades!

Now you’re probably thinking, “But Finshots, doesn’t India have a 95% waste collection rate?”

That’s true, but it’s mostly in cities. In rural areas, tonnes of waste go uncollected, and sometimes it’s burned, releasing toxic chemicals into the air. Landfills aren’t any better. They often catch fire in the heat, making things worse.

China, on the other hand, tackled its plastic crisis head-on, banning single-use plastics and investing in waste management. It even banned foreign plastic waste imports. Fast forward to today, its plastic waste management is way ahead of India’s.

This isn’t just an environmental crisis for India, it’s hitting our economy too. We’re already spending over ₹9,600 crores annually on waste management. And plastic pollution impacts tourism, fisheries and public health.

The good news, though?

We don’t need to reinvent the wheel. India can simply take a leaf out of China’s book, enforce stricter regulations and tackle this plastic crisis head-on. Because the clock is ticking, and it’s time for both the government and citizens to step up.

Infographic 📊

This Day in Financial History 📜

13th of September, 1985 ― Super Mario Bros. debuts

On this day, Super Mario Bros. made its grand debut in Japan, and took the gaming world by storm!

But it wasn’t always smooth sailing for Nintendo, the gaming company that created the video game franchise. Founded by Fusajiro Yamauchi, it initially made hanafuda, Japanese playing cards commonly used for gambling. But when his grandson Hiroshi took over, he explored various ventures in search of new revenue streams, most of which failed. Until he finally struck gold with video games!

Nintendo’s video games had gained popularity in Japan, and soon, it was eager to crack the American market. However, its game, Radar Scope, flopped. Americans weren’t impressed, as Radar Scope felt too similar to the already popular Space Invaders. This left Nintendo with nearly 2,000 unsold machines. But Yamauchi wasn't about to quit.

Enter Shigeru Miyamoto, the creative genius who took a Popeye-inspired idea and turned it into a legendary adventure. You know, the same Popeye that chomped spinach and saved Olive from the bulky Bluto? Well, Miyamoto swapped them out. Instead of Popeye, we got Mario, a humble plumber rescuing Princess Toadstool from the Mushroom Kingdom’s kidnappers.

And here’s the kicker. Mario wasn’t even meant to be a hero. He actually started as a villain before taking the spotlight in Super Mario Bros., where he teamed up with his brother Luigi to battle enemies. Mario even popped up in random Nintendo games (like as a chair umpire in Tennis), which only fuelled his popularity.

Thanks to Mario, the NES became a pop culture icon and sold over 60 million units, becoming the best-selling console of its generation.

And it doesn’t stop there. The Super Mario franchise is making serious waves in the collectibles market, with people treating vintage games like prized investments. In August 2021, an anonymous collector shelled out a record-breaking $2 million for a copy of Super Mario Bros., originally made for the 1985 console. Talk about Mario’s enduring appeal!

Even today, Mario continues to power Nintendo’s success. In 2022, the company raked in nearly $14 billion in revenue, placing it fourth globally behind only Sony, Microsoft and Tencent.

So yeah, Mario isn’t just a game character, he’s a full-blown legend.

Readers Recommend 🗒️

This week, our good old friend, Nidhi Dhanani is back with another recommendation. She’s giving a shoutout to Commoncog, a blog that dives into the art of mastering business and decision-making.

Nidhi has also picked out some standout stories from the blog that she loved and thinks you might find intriguing too. There’s one on Human Memory Retention that explores how to boost memory through techniques like active engagement, spaced repetition, the memory palace method and pattern recognition. Another gem is Reading Better, which covers how to read different types of books effectively, grasp author perspectives, ask insightful questions and set clear reading goals.

Definitely sounds interesting. Thanks for the awesome recommendation, Nidhi!

Finshots Weekly Quiz 🧩

It’s time to announce the winners of our last two weekly quizzes. And the winners are…🥁

Sarvesh Khajanchi and Subodh Istari Tirpude! Congratulations. Keep an eye on your inbox and we’ll get in touch with you soon to send over your Finshots merch. And for the rest of you, we’ve moved the quiz to our weekly wrapup. So make sure you answer all the questions correctly by 12 noon on September 21, 2024 (Saturday) and tune in here next week to check if you got lucky.

Anyway, that’s it from us this week. We’ll see you next Sunday!

Until then, don’t forget to tell us what you thought of today’s newsletter. And send us your book, music, business movies, documentaries or podcast recommendations. We’ll feature them in the newsletter! Just hit reply to this email (or if you’re reading this on the web, drop us a message: morning@finshots.in).

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