Hey folks!
Hereās a completely random idea ā move to Bali!
That is, only if youāve got $130,000 (ā¹1.07 crores) in your bank account and you fancy living (and maybe working) on the island.
See, Indonesia has just announced its 10-year visa programme called the āsecond home visaā. And their goal is simple ā attract wealthy folks whoāll contribute to the economy. Bali especially has been hit quite badly as the pandemic nearly killed tourism. And this is just one way to attract digital nomads back to the island.
Now if only I had that kind of moneyā¦
Hereās a soundtrack to get you in the mood šµ
āYou & Meā feat. Sanchal Malhar by Dualist Inquiry
If youāre settled into your favourite couch and sipping a refreshing beverage, letās get groovy this Sunday!
What caught our eye this week š
Pay Equity for women cricketers?
On Thursday, Jay Shah created quite a stir. Heās the Secretary of the Board of Control for Cricket in India (BCCI) by the way. And heād tweeted āWe are implementing pay equity policy for our contracted @BCCIWomen cricketers. The match fee for both Men and Women Cricketers will be same as we move into a new era of gender equality in š®š³ [Indian] Cricket.ā
Thatās big news. Because from now on, both men and women cricketers who play for the national team will get ā¹15 lakhs for each Test match, ā¹6 lakhs for every ODI and ā¹3 lakhs for every T20I they play. Until now, women were paid a measly ā¹1 lakh for any white-ball match and ā¹4 lakh for a Test.
Itās a big step in the right direction indeed.
But maybe there are a couple of more things to change before we can claim true gender equality in Indian cricketā?
For instance, letās look at something called the central contract. Cricketers are typically slotted into various grades and earn an annual fee. For instance, Virat Kohli gets the top grade of A+ which fetches him ā¹7 crores. And thereās grade A which has the likes of Ravichandran Ashwin. This earns a fee of ā¹5 crores.
What about women cricketers?
Well, the top grade isnāt an A+. Itās just an A. And the annual fee for those that get the coveted spot? Just ā¹50 lakhs.
Thatās quite a disparity, isnāt it?
Also, as Siddharth Suresh wrote in The Quint, the BCCI shares 26% of its revenues with cricketers. And while male players get 13% of it, a tiny 2.7% is divvied up among junior cricketers and Indiaās international women stars.
So yeah, maybe we canāt claim āequalityā just yet?
Infographic š
One more thing that caught our eye this week š
Indiaās spice market is heating up
Dabur is splashing a cool ā¹588 crores to buy a 51% stake in spice maker Badshah Masala.
And itās not the only one with a new-found taste in spices. There are rumours that HUL wants a piece of MDH. In 2020, ITC acquired Sunrise Foods for ā¹2,000 crores. And MTR Foods acquired a 67% stake in Kerala-based Eastern condiments too. In fact, between 2018 and 2019, the spices and condiments industry saw 8 PE-VC deals worth over ā¹1,900 crores.
The market has been red-hot for a while now!
But why?
Well, gone are those days when our grandmothers ground up every little ingredient into the perfect spice mix. We donāt have time anymore to make an elaborate meal, let alone grind spices. Weāre ready to pay for the convenience of a perfectly created spice rub for our chicken tikka or to flavour that aromatic biryani.
And as per Abha Agarwal of Avendus Capital ā blended spices used in pav bhaji, tandoori chicken, and sambar, for instance, enjoy gross margins that are ādoubleā that of chilli or turmeric masala. They are also priced higher than regular masalas.
And if you look at Badshah Masalaās portfolio of products, youāll see this playing out. So you can see why Dabur wants to snatch up this established player. It gives them a solid entry into the spice play, it could have huge export potential catering to the Indian diaspora scattered across the world. And maybe it could even use the base to build out new ranges of ready-to-eat curries and pickles?
The possibilities are many.
While the Indian spice market is worth ā¹60,000 crores, the organized segment makes up less than half of that. Itās a massive opportunity thatās still waiting to be tapped by the packaged spices business.
Thatās what Dabur wants a taste of.
Money tips š°
Beware of āfinfluencersā
A few days ago, I came across this Instagram Reel which said, āI used Dividend from IOC to fund my yearly fuel expensesā.
Heās essentially saying that if we buy stocks in a company thatās part of the oil industry, it will dole out dividends (a sort of income) to us. And we can use that to fund our fuel bills!
Quite a smart idea, no?
Especially since all of us have been feeling the pinch of high fuel prices over the past year. That three-digit figure wasnāt a nice sight to see when we pulled up at a petrol pump.
Or hereās another such Instagram video.
This time, another person shared the āsecretā to getting free electricity!
His suggestion? Buying ā¹10 lakhs worth of PTC India, an energy company, that pays out hefty dividends. Which could then fund an electricity bill of ā¹7,500 a month.
Again, sounds brilliant, no?
Youāre earning passive income from your investments. And thatās what every expert recommends you do anyway.
Butā¦hereās the colossal problem with these suggestions.
If you invested ā¹10 lakhs in IOC 5 years ago, youāll be left with just ā¹5 lakhs today.
If youād invested ā¹10 lakhs in PTC India 5 years ago, that would have fallen to ā¹6 lakhs now.
You. Lost. Money.
Need I say more?
So yeah, maybe donāt believe everything you hear and see from Finfluencers on social media?
Source: Dilbert Comics
Readers Recommend šļø
Unexplainable by Vox
Itās a podcast about science. Simple. But itās also quite quirky. For instance, when our reader Darvin Makadiya sent us this recommendation, he mentioned his favourite episode ā āWhat did dinosaurs sound like?ā
Wouldnāt you like to know?
***
Anyway, thatās it from us today.
What did you think of this edition of Sunny Side Up? Is there something we can do better? Let us know by replying to this email (or if youāre reading this on the web, drop us a message: morning@finshots.in)!
Weāll see you next Sunday!
And don't forget to share this edition on WhatsApp, LinkedIn and Twitter