Youthink Volume XII
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YOUTHINK 2017 | Vol. XII ISSN : 2347-6222 TRANSCENDENCE XAVIER’S COMMERCE SOCIETY CREDITS CONTENTS CHIEF PATRON Rev. Fr. Dr. John Felix Raj, S.J., Principal MESSAGES 04 PATRON EDITORIAL 08 Rev. Fr. Dr. Dominic Savio, S.J., Rector and Deputy Principal EDITORIAL ADVISORY BOARD FEATURE Rev. Fr. Dr. Xavier Savarimuthu, S.J. Rev. Fr. Peter Arockiam, S.J. Of Arms, Ammunition, and Antagonism 09 Dr. Madhusree Mukherjee, Deepshankar Mukherjee Prof. Swapan Banerjee, Dr. Amitava Roy EDITORIAL AND REVIEWER BOARD (STAFF) Myntra's Fashion Faux Pas 14 Dr. Partha Pratim Ghosh, Dr. Saswati Chaudhuri Mohammad Safdar & Mohit Sharma Dr. Shivaji Banerjee, Dr. Samrat Roy, Dr. Arijit Ghosh Prof. Madhu Agnihotri, Prof. Saptarshi Roy, Prof. Santa Ghosal The Great Indian Sale 19 Prof. Soumi Bhattacharya, Prof. Kaushik Chatterjee Tanya Jhunjhunwala Prof. Ramit Roy, Prof. Shaunak Roy, Prof. Tuhina Manna MANAGING EDITOR The Twin Balance Sheet Syndrome 24 Dr. Sumona Ghosh Aakriti Golyan & Yash Vardhan Darolia JOINT EDITORS Adit Patel and Sneha Agarwal The Great Indian Agrarian Tragedy 31 Krishna Kumar & Subham Saurav EDITORIAL BOARD (STUDENT) Faraz Rizvi, Ishmeet Singh Batra, Mehul Agarwal Distorted Reality 36 Soumya Ghosh, Ved Mehta Aman Kedia FINANCE COMMITTEE Aakriti Golyan, Abhishek Daga, Adit Patel, Akankchhit Singh, Survival in the Start-up Spectrum 40 Anubhav Kataruka, Anushka Kuthari, Devika Siotia, Faraz Rizvi, Archisha Singh, Shweta Roy & Trisha Daftary Harsh Kalani, Husein Rangoonwala, Ishmeet Singh Batra, Jatin Kalwani, Mahima Bachhawat, Mayank Rathi, INTERVIEWS Mohammad Safdar, Mehul Agarwal, Monika Bansal, Nikhil Garg, Nikita Chowdhary, Pranay Ramchandani, Sachin Tendulkar 45 Pushkar Shandilya, Raman Agarwal, Rohan Daga, Interview taken by Sneha Agarwal, Rohan Kamdar, Shreyanshi Jain, Shreyashi Basu Roy, Faraz Rizvi, Ishmeet Singh Batra & Siddhant Singal, Sneha Agarwal, Snigdha Agarwal, Somesh Kumar Agarwal, Soumya Ghosh, Sumit Goenka, Mehul Agarwal Supunya Saluja, Tanish Agarwal, Tanushree Agarwal, Ved Mehta, Vedant Kedia, Vedant Marda, Vedika Pincha Amish Tripathi 47 Interview taken by Sneha Agarwal, PHOTO CREDITS Totan Karmakar Ishmeet Singh Batra & Mehul Agarwal Published by the Department of Commerce, St. Xavier’s College A. S. Kiran Kumar 49 (Autonomous) Kolkata. Copyright in the Journal belongs to the Interview taken by Adit Patel, Department of Commerce, St. Xavier’s College (Autonomous) Soumya Ghosh & Ved Mehta Kolkata. Copyright in individual articles belongs to the authors who have asserted their moral rights ©2017. No part of this Shashi Tharoor 51 publication may be reproduced or transmitted in any form Interview taken by Adit Patel, Ved Mehta, without the prior written permission of the publishers. Faraz Rizvi & Soumya Ghosh Information contained in this journal has been obtained from sources believed to be reliable. However, neither the Department of Commerce, St. Xavier’s College (Autonomous) Kolkata nor its contributors guarantee the accuracy of or completeness of any GUEST ARTICLES information published here, and shall not be held for any errors or omissions. Pricing in the Digital Age 53 Prof. Russell S. Winer Printed at The Cybernetics YouThink is a free-distribution journal. NOT FOR SALE. Will the Representatives of the Future work 57 Feedback and suggestions are welcome at on Commission? [email protected] Prakriti Dasgupta & Prof. Rajib Dasgupta YOUTHINK | 2017 | Vol. XII BEYOND PROFESSOR'S DESK A Study on the Fiscal Health of West Bengal 64 Is the Indian economy at 135 Prof. Saswati Chakraborty Bagchi & an inflexion point? Aryan Ghosh Rev. Dr. Dominic Savio, S.J. & Dr. Samrat Roy Is Online Shopping in India killing 72 the Retail Merchants? Decoding Bitcoin 139 Prof. Swaraj Kumar Nandan & Swastik Kotal Prof. Hanzala Awais GST beyond the political jargon 75 GST on Liquidated Damages 142 Dr. Partha Pratim Ghosh & Sayan Banerjee Prof. Oyndrila Ganguly Analysing the Impact of Packaging on 81 Judicial Activism for Protection of 144 Impulse Purchase Behaviour: the Right to Health The case of FMCG consumers in Kolkata Prof. Rinita Das Prof. Shaunak Roy & Siddhant Banthia PROJECTS Demonetization - Journey of 87 Black turning White Neuromarketing - Decoding 149 Dr. Sreemoyee Guha Roy & the Black Box of Consumer Brain Akshay Kumar Sethia Yavantika Malani & Prof. Soma Nath An Empirical study of Mergers and 93 The Paradox of Choice 153 Acquisition in Indian Financial Market Mehak Sekhani & Prof. Santa Ghosal and its Impact Dr. Soheli Ghose & Shiva Sahani Indian Political Marketing 158 Anwesha Sarker & ASCENT Prof. Chandrima Banerjee An Exploration into Customers' Brand 98 Social Stock Exchange: 162 Preferences of Fuel Consumption in India Where Profit meets Purpose Dr. Shivaji Banerjee & Ritoriddha Dasgupta Advika Jalan & Prof. Saptarshi Ray The Rise of Physical Evidence in 102 Income Inequality and Polarization of 169 Restaurants Indian States during 1971-2004 Prof. Soma Nath & Payal Maloo Suchetana Bhattacharya & Prof. Soumi Bhattacharya Credit Management of the Textile Industry - 108 A Case Sudy of Sangam Limited LOOKING BACK Prof. Camellia Burman & Aditya Mohta Coming Together for a New Beginning 175 An Analysis of the performance of 115 Monika Bansal & Pushkar Shandilya SEZs in India Prof. Puja Bhowmik & Vatsal Mohta ACHIEVEMENTS 177 PayTm: From Rags to Riches 121 TRIBUTE 178 Prof. Joyita Banerjee & Bipul Agarwal FUN SECTION 180 Morhping Into Artificial Dimensions 126 Mayank Mohata ADVERTISEMENTS The Pian Trio 131 Prabhav Agarwal YOUTHINK | 2017 | Vol. XII Message | RECTOR AND DEPUTY PRINCIPAL Message From Rev. Dr. Dominic Savio, S.J. Rector and Deputy Principal St. Xavier’s College, Kolkata ‘Our talents are God’s gifts to us. How we use them is our gift back to God.’ Perfection continues to be the lofty ideal of every Xaverian. The Xaverian spirit is that of camaraderie, self-assessment, intellectual pursuit and unflinching modesty. As we celebrate a glorious time in the history of the St. Xavier’s label, it is time that the legacy of the Xaverian spirit leaves a mark on the planet. The questioning spirit, untiring hard work and selfless dedication to responsibility that St. Xavier’s promotes forms the bedrock of our belief that every Xaverian is the epitome of sophistication, and that like in the past, this college shall continue to leave its indelible and humble mark on society. Striking the right balance between academic lives that shape intellect, and co-curricular lives that impart wisdom to use the former continues to be a task we fulfil with pride, and the Xavier’s Commerce Society is a part of this process of maintaining consonance. As part of the true Xaverian legacy, it imbibes within the student all that is needed for a better tomorrow. It fosters governance of the self through its corporate endeavours, leadership in its ranks, loyalty towards the institution, selflessness in its motives, and above all, dynamism in the thought process, structure and work at every step. As the representative society of the Department of Commerce, it seeks to set benchmarks for expression, creativity and knowledge and Youthink is foremost in such endeavours. As men transcend the boundaries of dogmas, class and frivolous divides, industries As men transcend the transcend turbulence, and nations transcend borders, the fundamentals of the inevitability boundaries of dogmas, and power that lies in constant upliftment are being re-visited now more than ever. The spirit of transcendence is truly reflected in Youthink. From a humble beginning, more class and frivolous than a decade ago, the journal has transcended students, themes and time to become a divides, industries brand of its own. With immensely encouraging recognition and re-inspiring efforts by the Xavier’s Commerce Society, the journal has grown from strength to strength. It continues transcend turbulence, to strive to outdo its past edition, setting new benchmarks for authors and readers alike. I and nations transcend commend the editorial team, the students’ body at the Xavier’s Commerce Society and all students and faculty members who contributed to this year’s edition. I also extend my borders, the gratitude to our guest authors. fundamentals of the My heartiest congratulations to the Xavier’s Commerce Society. As a student body that pushes boundaries to limitlessness, the theme this year bears testimony to what it stands inevitability and power for. I wish Youthink another year of transcendence, humility and worthiness. that lies in constant Nihil Ultra. God Bless. upliftment are being re-visited now more than ever. Rev. Dr. Dominic Savio, S.J. 04 YOUTHINK | 2017 | Vol. XII Message | PRINCIPAL Message From Rev. Dr. Fr. Felix Raj, S.J. Principal St. Xavier’s College, Kolkata ‘It is for the mind to see what the heart cannot. It is for the heart to feel what the mind cannot.’ In a college that has undertaken years of dedication to striking the right balance between etiquette and freedom of thought, and academia and application, the Xavier’s Commerce Society makes commendable contribution to keeping the Xaverian flag high. Cogito Ergo Sum. We are the product of all that we perceive and know. The Xavier’s Commerce Society is a wholesome part of our undying initiatives to rise beyond increasing tempests in our bid to create men and women for others, and I am glad that this year’s theme reflects the transcendental journey of our institution. An enduring lesson I gained as a teacher is the importance of the originality of thought. The importance of making the student think as he learns is the beginning of worthy education, the beginning of changing thought, the beginning of change-inducing endeavours, and the beginning of human transcendence. The world is changeable in ways we do not realize. It is in such times that the power of human thought increases manifold, and with it, raises the significance of the right expressions at the right forum. This year, while Youthink reflects upon transcendence, it also partakes in the process of human progress by encouraging thought with purpose and altruism. With surprises in the economy in India and the polity abroad, we stand at crossroads of The world is transcendence.