It is time for us to move on to the next panel of the day. Here, our speakers are going to be sharing the secrets of building successful brands for Bharat. I'm sure you're intrigued to know what those secrets are, and the session is going to be moderated.  Thank you so much, Jay for joining us. Welcome Jay on the stage. It is now time for me to call upon Kailash Katkar, MD, QuickHeal Technologies Kailash. Thank you so much. Namrata Chotani, the CEO of Khadim. Thank you so much, Namrata, for your valuable time. Joining them on the stage is Dheeraj Gupta, founder and MD of Jumbu King. Thank you so much, Dheeraj, for joining us. And now inviting on the stage Mr. Rahul Tiwari, CFO Games 24-7. Thank you so much, Rahul, for your valuable time. As we have our dignitaries on the stage, it is time for me to pass on the live bait and to chair to take it forth. Over to you, Jay. Thank you. So first of all, really glad to be your face-to-face after doing lots of panel discussions online. I think it's a privilege to meet people face-to-face. So today's session is essentially on the success stories of brands in Bharat. And before I start discussing with the panelists, what I just want to highlight is that Bharat has suddenly become very important. I don't know how many of you are aware, but the last, I think, 100 million internet users have come from Bharat. COVID has seen the least impact in Bharat. And the government stimulus towards this part of India has been increasing year on year. And so a lot of brands have started looking at this market in a very sort of serious way. And we've got a very eminent panelist with us. And to start the session, I think I'll, like, Nambaratha can start first is, in your opinion, how have you looked at your brand when you're looking at Bharat as a market? Hello. So firstly, thank you for the invitation and it's an honor to be part of this esteemed panel. So I think when we look at Bharat, I think we'll take a step back and divide India into two segments. The first segment being those who stay in the urban markets and the tier one markets who have a higher disposable income, who shop from high streets and malls. They have a lot of much more higher exposure to digital media. They have international travel, which is a huge thing in India. Because we are actually not Bharat. International travelers is actually India. They have a lot of retail experience because they've traveled abroad. They have digital media. They have got e-commerce through exposure. So because of which they demand good product, good service, good VM, packaging, omni, they want the best. That's what we call India. The second segment is the people who stay in the tier two and tier three markets and the rural markets. They shop from small exclusive brand outlets, small retail counters, multi-brand retailers. Their disposable income is increasing there. They have exposure to TV, some exposure to digital media. And they are also demanding fashion today. You can't have a Shalta attitude with them. And we call this market Bharat, which is the future of India. That's how we have categorized Bharat and India. And that's how we have positioned our business to catering to both these markets. And just to ask you a little more, in terms of your priority when we are looking at India and when we break it into urban India and what we are calling at the Bharat right now, how has your priority changed over the years? How important suddenly Bharat has become? Bharat has always been very important to us because just to give you a perspective, we have two main businesses. One is retail, one is distribution. On the retail side, 58% to 60% of our business comes from the tier two, tier three markets, which is predominantly Bharat. On the distribution side, 80% of our business comes from the tier two, tier three markets. So we have almost 550 odd franchisees, out of which 80% would be in the tier two, tier three markets. So we have been a heritage Indian brand with deep roots in these markets. We have 750 odd outters across the country. With that kind of penetration, it's only possible in these markets. So I think I'll discuss in detail over time as to how the businesses are, you know, the products are focused in that direction. But yes, I think that's how we are looking at it, and that's the penetration we have. Kailash, what's your view? How has Quickheel looked at India, as in urban India versus Bharat? So with Quickheel, actually, for Quickheel, the Bharat was important from the day one. And still today, Bharat is our major focus, more than 95% we generate revenue from Bharat. And when it comes to the urban versus the metros and all the same, so Quickheel has reached out to even the downed tier two, tier three cities, the way the computer started moving to these tiers, actually. So Quickheel has reached out to each and every town like a blood with the computer, actually. So wherever the computer went there, the Quickheel reached there automatically. I really didn't have to take big struggle for that. It reached there automatically. Got it. Thank you, thank you. I'll move on to a very interesting role which Dheeraj is doing in our country. Dheeraj, what's your view in terms of how has it evolved for you over the years? I'm sure you would have started somewhere in Bombay, but how has your journey been? Hi, Jay, thank you for the question. So yes, Jammu King started as Vada Pao as we all know. And the idea was to always to create an Indian brand. Of course, the multinationals are there. They have got strong brand recall, very strong systems in place, but how to get an Indian product to be able to scale up. And I think very interestingly, about five years ago, we did some survey and we actually moved away from Vada Pao and started calling ourselves the Indian burger. Because earlier we should think that India, Mumbai also is a part of it. That people don't have enough money. They're trying to buy cheap food, inexpensive food. But what we realize is that actually, India has become extremely aspirational, including Bharat. And the right thing to do for brands is to understand those aspirations and appeal to them. Because the youth especially, they are super vibrant whether they are from Mumbai or from Nasik or from Amravati. And the disposable incomes are rising. And the more we gave out better products, the more we did the entire burgers range. And of course, we had a lot of the Indian flavors. And we started selling combos. And I think students, the younger populations, they really, really loved what was happening. And I think one major thing is the Indian business environment, especially the Bharat environment. It requires a business model, which is where the returns will be commensurate to the potential that that market has. Like typically, an MNC brand would invest three to four crores to put up a store. A jumbocking goes and puts up a store in 30 lakhs, 25 lakhs in those same markets. So the ROIs, the success ratio of the stores automatically increases many fold. Because our franchisees would be very happy doing 25,000, 30,000 rupees a day in sale and make good money. And while in the MNC brands, they would have to do at least a 1 lakh rupees of sale to even break even. So I think as a brand, we understand the inherent strength. We understand Bharat better. And yes, the opportunity is there. COVID, of course, took what has set us all behind by a few years, but now we are heading to go. Thank you. Thank you very much. Rahul, moving on to you. Gaming is seeing a huge boom in India. And I think in our media terminology, we used to talk about TV and digital. And now the whole buzzword is gaming. What's your viewpoint between gaming in urban India versus looking at the Bharat? So I think our experience has been that the company has been created by Bharat. It's a brand that is homegrown. We basically looked at evergreen content that was very popular offline. And we looked at the large market opportunity. And also kind of thought that the entertainment consumption patterns were changing fundamentally. So when you look at the scale of the market, I mean, today, gaming is the largest category for entertainment. 400 million people have consumed digital entertainment through mobile devices. And it's also consumption pattern that's changed fundamentally. So people today are looking for anywhere, anytime entertainment. And they're also looking for entertainment that they have control over. And that is like Bharat speaking, right? Because people want control on what they're consuming. Also Bharat is speaking because they are looking at snackable consumption of entertainment. Today, you can actually go and play a game of Rummy or you can draft a team on a platform, a fantasy team, for as low as like 20 rupees. And out of the 400 million gamers who are here in this country, we think that majority of them come from tier two, tier three cities, semi-urban areas. And they're all engaging with us digitally, which is I think we are very fortunate as a brand to kind of ride this entire wave. And a lot of the environment has helped, the digitization of India has helped, UPI has helped, right? So all of these technology backbone that's been created in the country is benefiting digital brands like we have in gaming. And on that, I think I'll go back to Namrata. What I think will be interesting to know when we are talking about digital, how has digital impacted your business when you look at Bharat versus when you look at urban India? So what role does digital play? What role does offline play? So historically and conventionally, offline media, which is television or print, has always had a higher market share, has much more eyeballs, and has always been a larger, relevant platform for marketing and advertising. But I'll give you some stats of what is available in today's industry numbers. TV has a reach of approximately 850 million. Print has a reach of approximately 450 million. Internet penetration is almost 700 million. Smartphones are approximately 500 or million. So digital media has become much more relevant and significant than something you cannot ignore. Some finer points over there are on the reach side, earlier television ads were more like the way to judge the impact of them used to be based on TRPs and GRVs and high-reach numbers. Today, the success of a campaign is judged by the likes, comments, shares. They are judged by the kind of conversation that is happening around it, viral videos or retweets, or the amount of comments that come on the entire hashtag campaigns that flow by it are becoming a more significant part of digital media. On the content side, fast or rapid content consumption has become the deal of the day. You cannot talk directly to the today's consumer. You have to have an intelligent mechanism to talk to them. Be it in terms of a spot or a series of celebrity posts, talking the same consistent language, or a heartfelt monologue by a celebrity, or a YouTube influencer through a vernacular medium trying to put in a product or a service in their video, integrated. So that's become a smarter way of communicating to them. Video has become a strong brand asset, short video formats are consuming more, brands are developing those kinds of contents to be able to put it to the various platforms that are there today. Given that Bharat has many Bharats within it, vernacular communication or vernacular videos or content has started becoming more relevant. Because as more and more people are developing a voice, democratization of the internet is only helping it. So I think that has become a very, very strong medium for communication and has become relevant to the organizations and brands to keep vernacular in mind. The Raju's and the Rashmi's of the world today are becoming more relevant in terms of communication compared to the larger A-listers. The ROIs are better because the perception the minds of the consumers are taken more by these influencers because today's consumers are more or today's Gen Zs and millennials are more perceptive and they relate or they consume products or services based on who they relate to now. So I think these factors, brands need to be more humane. They need to be more inclusive. These factors also add to communication on digital media. So from our perspective, though we are a very strong brick and mortar brand and we are also a very strong distribution channel, but we are focusing much more on digital media today than we were focusing on offline. In fact, the majority of our spend will be coming through digital media. So that's how we want it. I think you mentioned some really important things and I'd just like to sort of summarize that. One you spoke about was vernacular. You spoke about short video. And I think the third you spoke about was voice. So and that's what even in our sort of media planning, we keep saying that the three Vs to reach out to the Bharat consumers. I would want you also to give your perspective when it comes to how do you look at it? Because when it comes to say Rahul or Kailash, their brands are completely digital. But for you, how does it make a difference? How would you look at your consumers? Are you still trying to talk to them through offline or is digital playing a big role? I think digital is a reality which we have embraced openly instead of thinking that we are a brick and mortar brand so digital is going to take away from us. And we just feel that it keeps on adding. It opens up a whole new world of how business can grow. So it's an enabler. Technology is an enabler. So for us in the food industry, we are very, very fortunate that we have the swiggies and the tomatoes of the world who have come up, spent crores of money in creating this entire ecosystem around home delivery. And it was an entire segment of business which we used to miss out on. And now it is possible because these players are there. There's a lot of the restaurant industry which is also fighting with the swiggies and the tomatoes. But we feel that they're provided that the margin part, the sharing is taken care of. So it's an example and one of the office or something which has come out of digital. And as far as marketing is concerned, I think we have taken our own sweet time to understand how it works. Earlier we thought that if you have got a half a million or one million Facebook likes, which means you've made it. But we now realize that it does not actually get shown to the people who may have liked what you've done. But so now content is becoming king. And it is actually relevant. So we also understand that whoever understands how to use digital better, faster, is going to win. It's a new medium which has come up. And as I say, it is so we probably to do a national campaign on television, on an annualized basis, you need a budget of at least a minimum of 40, 50 crores. Below that you will be missed. But digitally you can do so much more with 10% of that money. So I think but the transition is going to be gradual. It won't be today offline and tomorrow online. It is going to take its time. And I think the best thing to do is just happily ride the wave, straddle both the things. It will be from an 80, 20, 80 offline, 20% online. And then slowly, slowly it will move to 80%. So I think it's the TV channels and the newspaper guys who have to worry about what to do on digital. We as brands are going to go with what is going to help us reach our consumers faster. If I were to probe you a little more and ask you for a number, what percentage is it currently and what do you expect it to be? Let's say two years hence. The digital spends? OK, so we are spending a lot of money. So I think the food industry is very fortunate to have the swiggies and tomatoes. So for us, they become like newspapers. Traditionally, we would put an ad in a newspaper because everybody's reading the newspaper in the morning. You place your ad there and your product is likely to get bought. The swiggie and tomato is like a newspaper for us. Anybody looking to order online is going over there and searching. So for us, the most important thing is be very easily discoverable on those apps. And it is a straight call to action. We don't have to hope that he will see our ad on Facebook. And somewhere when he's going back home, he's going to remember OJAMOKING has launched a new product. By the way, we launched a new product called Harapara Kabab. We'll try it. So he'll have to remember, OK, I have to go and eat. Over here, there's call to action. Immediately clicks, orders, and business happens. Got it. But we still didn't get a number from you. But I think we'll just move on. So digital is still in the lower 10% of the overall spends. And two years hence, what do you predict? As I said, it will go from 10 to 20, 20 to 30. It is what is going to get better results. Got it. So the offline medium still creates that larger than life imagery. Putting up a hoarding still says a lot about the brand, because not everyone can afford to put up a hoarding. So there is that exclusivity thing. While in digital, it seems like everybody can do digital. So there is that, ABPO sort of premium is attached to offline. So it is very critical. Got it, got it. Moving to, I have another sort of question. How do tech brands look at Bharat? So, Kailash, what would your view be?  So when it comes to the tech brand, digital is the most important factor. And with Quick Hill, actually, we started our e-commerce as well as communication through digital in year 98, actually. So at that given time, even in India, there was not a single payment gateway from any bank. So I have to tie up with one of the American company. And they could even be able to give service to Indian customers also and foreign customers also. But then gradually, ICIC Bank and everyone started. So definitely, when it comes to the commerce as well as the communication part of it, the time has started changing. As you said, just a little bit earlier, that internet users in India has reached 200 million this year. From Bharat? From Bharat, yeah. 100 million have come to Bharat. Yes. And if you look at the Indian population, so there is a still big number of population who is not using internet. So when it comes to the, and for me, the customer is, everyone is the customer. Because people are using computers and all this thing at home, might be not using smartphone. So for us, this thing is very important. When it comes to the digital and offline also, both are equally important. Yes, means if I have to tell you from a number point of view, like a revenue point of view and all this thing, I could say that my almost 95% revenue used to come from offline five to six years back. Today, almost 27% have started coming from digital part of it. But I would say that even the offline part, which I will say that, which goes to the shop and then from shop, the customer comes and buy the product at shop. I'm sitting in my office, so I don't know whether he's paying digitally or cash to the shopkeeper. But for me, it is offline because I don't have that details with me. And I believe that even at shop level also, the digital has gone quite up, actually. So that is what I believe. Looking at this entire gaming part, so how is it that you are tackling the consumer when it comes to Bharat? So how do you reach your consumer? What's the way when you look at a brand like yours? The way we have kind of thought about the mass market is through personalization. And the cornerstone of that strategy is basically data and data science. Our customers, when they interact with us, the entire, if you look at the marketing funnel that we have, it's completely digital. So right from acquisition to activation, retention, monetization, it's entirely digital. It's a challenge in the Indian context. Because when you think about new customers, especially customers that are experiencing internet or a mobile device for entertainment for the first time, there's a lot of apprehension. So we got to develop that trust. And the way we do that is by looking at the digital footprint that the customer is leaving on the platform and using it very, very powerfully for nudging them to engage more and more with the platform. So the entire strategy around communicating with the customer changes, the product has to morph in multiple ways to look at that hyper segmentation of the market. So for example, you and I playing a fantasy sports game on our platform. Maybe the product that you see could be different from the form factor depending on the device, depending upon our understanding of you as a customer can change. So the communication strategy changes. The campaigns, the promotions, they can be hyper-personalized. So we've used data as to our advantage. And we think that we are still on that journey because a lot of people are coming onto the internet for the first time. And they are unfamiliar. What we have done as a strategy is to look at making these new customers better customers. So the way we do that is by nudging them to become better skilled players on our platform. So that's the investment that we do on the platform. The benefit that we get is better stickiness of the customers and a better lifetime value of those customers on our platform. Very interesting, very. Because I always thought personalization was more in urban India. But it's interesting that you've been able to collect a lot of data even when it comes to the smaller towns. That's true because the rural customers are actually looking for that support from a digital brand. And I think we give them that level of trust. For example, one of the things that we did as incremental innovation was we allowed people to withdraw whatever was their wallet balance on our platform instantaneously. So if you pressed a button on the app, you would see that money lying on your bank account within a few seconds. So I mean, these are small little things that we do for the customer. But it does develop that trust in the online brand. Interesting, very interesting. Namrata, this is something which is specifically for you. How has e-commerce hit a role in Bharat? So we all know that it's like today to order anything here, click off a button on Amazon, flip card, everything is there. But what role does that play in terms of delivering the product to the consumer when it comes to Bharat? So e-commerce in every form is very relevant today and something that cannot be ignored. Be it someone purchasing a product from your own website or a marketplace or a B2B kind of a format wherein you're selling two platforms which are actually selling to other retailers to the online platform. From our perspective, almost 50% to 60% of the orders come from the tier two, tier three markets. So that helps to service customers where we don't have physical presence. And you'll make yourself your brand available in those markets. But when we look at e-commerce, we look at sales from all possible online platforms, which also includes omnifying your own stores and utilizing your existing platforms to be able to service a customer through the online platform. What that basically means is we've omnified all our stores. So any customer who walks into our store and doesn't find a color or a size of their choice, the product is delivered to their doorstep. So how that works is that it improves the customer service. It improves the delivery timeline, improves working capital efficiency, reduces logistic cost. So I think we're also servicing the e-commerce orders. We're trying to figure out how to link the e-commerce orders and service them through our company on outlets and our franchises for that matter. But I would also like to add in this, increasing sales is not relatively difficult. It's a relative basis. But one also needs to keep in mind the cost of doing business and the profitability angle.  Yes, it's a platform which no one can ignore because it is only growing. It's also increasing the penetration in the market. It's an ability to virtually improve your brand visibility in markets that you don't have physical presence. So that's something which we are definitely working on. But we are very, very conscious that we need to make money on that. Thank you. Thank you very much. This is a question for all you panellists. And we would definitely want to know from your viewpoint. Like years ago, when the shampoo category was trying to enter into rural India, they realized that you couldn't sell bottles and they came up with one rupee sashes. I think Cavincare was the brand who introduced it to India. So have you seen any such kind of innovations or anything which is happening right now in your mind, which is like, you know, path breaking or which is breaking the clutter to reach out to this consumer? And it's open for all. So I think in our industry, you know, the focus is to how to provide fast fashion at the most reasonable price. It can be, you know, how do you make a Hawaii Chappal at 125 rupees fashionable? How do you make a flip-flop at 299 rupees exciting? How do you make a fine 99 rupees sports shoes or a 699 rupees sports shoes, you know, trendy and fashionable? It's quite an art to be able to... And this is in context of the increasing raw material prices, you know, because at the end of the day, you need to provide the right price, at the right quality to the consumer and at the same time make, you know, the your healthy gross margins and your bottom line margins on it. In fact, you know, in the retail business as well, it's quite an art to be able to provide the kind of fashion at the kind of at this price, at the kind of affordability and still make healthy margins in the high rental market like India, you know. So I think it's to maintain that balance. I think there's a lot which goes on with our production team, with our vendors, to be able to create that kind of, to have that kind of DNA, to be able to provide the product at that price. So I think in, from our context, innovation is predominantly there. Yes, there's also a lot of work that goes on, you know, the packaging in terms of your VM. But in our context, I think it is providing the right product at the right price and still make your healthy margins. That's where the innovation that goes on. And maybe in context of the other industry, I'm quite a fan of those small 10 to 15 rupees pet bottles of soft drinks which are out. I'm quite a huge fan of them. So I think that may be an innovation which may be caught, you know, which we can talk in the FMC industry. Got it. I think Pepsi and Coke will be quite happy to note that. So this is really good question and a good example about such a sample such part of it. So when it comes to the IT, it is very easy to serve the customer.   So what we have done that we knew that there are some customers who are very much price conscious and there are some customers who are much more quality conscious. So in, for a consumer product also, we have created a range between 500 for a, you know, the customer who is looking for cheap, cost effective, the anti-virus software is available for 500 rupees and the customer who is looking for the premium quality service or a protection part of it, the product is available for 2000 rupees. So we have a range of products and then we have bifurcated based on the layer of protections. So somebody who is looking for low cost, then we have three to four layer protection and somebody who is looking for quality product, they have almost 17 to 18 layer of protections for their system. So that way we have bifurcated and we are reaching out to all customers, which is not there with our competitors actually. God. Dheeraj, in your mind. I think the category we are operating in is all about supply chain constraints. So it's all about reaching as in, so for us supply chain is the bottleneck because the products, so like the patty that we sell, it gets made at a factory in Filore, which is near Chandigarh. And from there it comes to Bombay and we use IQ of technology to freeze the product and then it has to come in minus 18 vans. So I think India is still about a decade away from getting very good infrastructure in the Bharat, the way we call it. The vehicles, the cold room infrastructure. And so it is very, very exciting. I was just telling someone that in the US, which is a population of 33 crores, which is, we say is having higher per capita income, India with 130 crore people, even 20% of them is still 26 crores and they have very good, decent per capita income. So we have such a huge population to service. So once these supply chain constraints get resolved, so a brand like Subway having 18,000 stores in the US alone, why shouldn't jumbo king target to have 20, 25,000 stores in India? So, and where will these come from? They will all come because of the tier two, tier three towns where people are looking for entertainment, going out, eating out, youth are becoming more and more aspirational. So I think the next 10 to 20 years, it is just all about staying put, building the brand, putting in the systems in place and remaining focused. Any innovation from your category, outside your category, which has sort of excited you and thought that this is something which a brand has done different? I think we work very closely with Coke as in the Arab average partner. So we observe how they're coming up with the smaller packs and it does well. So like for us on the supply chain side, there are a lot of these changes like, so it's not for the B2C side, the B2B side of our business where we are coming up with smaller packs so that distribution becomes easier. Instead of 12 kg sources, if we can get six kg sources and that those are the kind of innovations which will make servicing Bharat possible. The whole your point of view. So I'm kind of trying to relate back to the sachet marketing concept that you had. And I think that we've tried doing something similar. So if you have like 10 minutes and you have 20 rupees in your pocket, you can entertain yourself. Full entertainment, immersive, interactive entertainment. I mean that's gaming. But I think where we've innovated is that today the Indian consumer is bombarded with all kinds of global games. And India today is also the hottest gaming market. So Indians downloaded more games last year than the US and the Chinese market. Seven billion downloads in the Indian market. So to be able to penetrate that market we had to come up with a sachet strategy, right?  That's what we have tried to, so kind of just relating back to what you just said. Thanks, thanks, interesting thing. I think in the interest of time, probably one last sort of closing comment from all of you all. Any predictions, anything which you all foresee for Bharat as a market? I think the biggest opportunity, you know, is the sheer size and the untapped volume in this market.  So the shift that will possibly happen is, you know, people buying zero pairs to like one pair, one pair to two pairs, you know, so I think, and that is what possibly gonna grow the market and create the market. The organized segment being 30% only. So the majority of the growth will be coming from this market, just predominantly in the tier two, tier three markets.  It's very fashion, from our perspective, very fashion conscious, and you can't have a complacent attitude towards it. Because as I said earlier, you know, they are well aware, the exposure is huge. You know, we have a very, very strong creative and a designing team to be able to cater to that market.  You know, when we see a lot of companies, you know, providing fantastic products and designs, and irrespective of the brand awareness or not, you know, and there are consumers for it because people are ready to pay for a good product irrespective of the brand recognition. So you've got to be out there, you've got to be on your feet and provide that kind of product to the consumers. Because in my mind, Bharat is the new India and it is converging sooner than we actually expected to. Well, is there any closing comment? I will, I would just like to add to Namrata because I don't want to say same thing now. Yes, India is a very big country and looking at the population of India and looking at the people, you know, the spending capacity. There's a big opportunity here in India. I just wanted to add one more thing here that when it comes to the brand, you know, so definitely people go with the brand and brand is actually what is a brand? Brand is all about trust, which is people are keeping on that product and all this thing. But with this pandemic in last two, two and a half years, you know, the pandemic has taught us lot many things, you know, now people will start gradually shifting like in next 10, 10, 15 years, people will start shifting from a product brand to the solution brand.  And then if you, if you want something free, so you think that I want something free. But if somebody comes and says that, you know, I can make your home automation where everything will be available on your mobile, you know, and then if he says that, okay, Samsung freeze will not work with this automation, LG freeze works with the automation, then you will automatically shift because your priority has become a solution now. Okay, if that Usha fan is not going to be compatible with the automation and the Orient fan is going to be compatible to that automation, the customer shift is going to happen towards the solution part of it. And this is going to happen across industries, actually. This is the future, this is what I want to do. Very interesting. Just quick comment. Yeah, we are short on time. Dirty looks. Yeah. Okay, so just, I just say that don't underestimate Bharat, make aspirational brands. I think a lot of big brands have made the mistake of trying to come up with cheaper products. And I've got stuck because the brand imagery got spoiled. The Bharat is rising up very quickly. So maintain whatever brand positioning you want to, the youth are aspirational. And over the next five years, 10 years, you would have been much more money as a company if you do that. Because changing later on becomes very difficult. I think for interactive digital entertainment, my prediction is that what Bharat is doing today, I think the globe or the world will do tomorrow. And the reason I say that is that the mass of the customers in Bharat is huge just in terms of numbers. It's young and culturally, I think the deepest that you can see globally. So their power to change the narrative for entertainment for the next many years is just very, very formidable. Thank you. Thank you very much. I think we are running over time. So we'll end the thing here. I hope it was very enjoyable. We've got really interesting people, interesting ideas and thoughts. Thank you for your time. Thanks a lot. Thank you. Ladies and gentlemen, a huge, huge round of applause. And may I, with a huge round of applause, welcome Sneha Valki, the Director of Growth and Strategy, E4M, to kindly join us on the stage to give away the mementos to our esteemed panelists. So we just request you, ladies and gentlemen, a huge round of applause as we have our panelists on stage. Let the applause continue, everyone. What an incredible panel this has turned out to be. And I'm sure you've got your key insights to take forth your business ahead from this. And with this, we just request you, please step ahead for a group photograph as this is gonna be a moment for all of us to cherish. Sneha, please join us. Yes, ladies and gentlemen, a huge round of applause as we have our incredible panelists who have joined us on the stage and shot us with their anecdotes and knowledge. Thank you once again.