PM Modi's Melody gift to Meloni gives Parle a 'Swadeshi' boost

PM Modi's gift of Parle Melody toffees to Italy's Giorgia Meloni was praised by the company as a boost for 'Swadeshi' brands. The viral moment spurred global ambitions for Parle Products and also led to a mistaken stock surge for an unrelated firm.

New Delhi [India], May 20 (ANI): Prime Minister Narendra Modi's gesture of gifting Parle Melody toffees to his Italian counterpart Giorgia Meloni on Tuesday brought a moment of unexpected cheer to the company that manufactures the toffee.

Parle Products' Pride and 'Swadeshi' Push

Parle Products Private Limited's Vice President, Mayank Shah, told ANI, "It's a moment of immense pride for all of us at Parle Products when Prime Minister Narendra Modi gives Parle Melody to world leaders. I think it is a powerful testament of the potential of Swadeshi brands on the global stage. I think it's his nature to promote Swadeshi brands and this is an attempt to promote that....So I think while as a Prime Minister, he has done his job to give us that kind of opportunity, it is now up to us to lap it up."

Spurs Global Ambitions

The viral moment has also incentivised the company to ramp up its global ambitions. "While we are number one here, the attempt now would be to be a significant brand globally. We are available in more than 100 countries. And going forward, I think we will be looking at scaling it up across the globe," Shah told ANI.

Mistaken Identity on Stock Market

The viral moment however sparked unexpected activity on the domestic stock market, pushing up shares of an unrelated listed firm that shares the "Parle" name. Mayank Shah clarified that Parle Products has no link with the BSE-listed company that gained traction. "So there is one listed company by the name of Parle Industries. They are, I think, into construction. But we have nothing to do with them. That's a separate and different company altogether. So I think people are mistaken by the fact that they also have a name, Parle, as a part of their company name, and we are also Parle. But we have nothing to do with each other; that's a construction company," he said.

Shares of Parle Industries Limited, an infrastructure and real estate developer listed on the BSE, hit the five per cent upper circuit on Wednesday. "I think what is happening is people are misunderstanding Parley Industries as this company having Melody, and I think that's the reason why you're seeing a lot of traction in the stock of that particular company today," Shah added.

'Melodi' Moment Goes Viral

The interest in the toffee brand peaked following PM Modi's publicised "Melody moment," when he presented a pack of Melody toffees to Giorgia Meloni. The Italian prime minister posted on X to thank Modi, amid lighthearted online reaction that used "Melodi" to underscore their camaraderie.

Responding to the attention on social media, Parle Products posted on X, "Thank You Hon'ble Prime Minister Shri Narendra Modi for taking Parle Melody to the global stage. A proud moment for all of us at Parle Products to see an Indian favourite being shared across borders." (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)