Prime Minister Narendra Modi created a viral moment during his visit to Italy when he gifted a Melody toffee to Italian PM Giorgia Meloni. The gesture, combining the PM name Meloni with the Indian candy brand Melody, instantly exploded across social media with memes and reactions flooding every platform.
The stock market reaction was even more remarkable. Within minutes of the video going viral, shares of Parle Industries hit the 5% upper circuit, meaning the stock price reached its maximum allowed increase for the day. However, Parle Industries is a real estate company with no connection to Melody toffee, which is made by Parle Biscuits Private Limited, a separate unlisted company. Investors bought the wrong stock in their excitement.
Opposition leader Rahul Gandhi sharply criticized the gesture, calling it an insult to every Indian and their pain. He pointed out that while Modi advises Indians not to buy gold and use fuel judiciously during an economic crisis, he is abroad distributing candy to foreign leaders. BJP leaders defended the moment, saying a little sweetness only strengthens diplomacy.
Beyond the viral moment, the Modi-Meloni summit carried serious strategic weight. Both leaders signed agreements on AI, defence, clean energy, space cooperation and the India-Italy joint strategic action plan with a trade target of 20 billion euros by 2029. The Italian PM used the Hindi word Parishram meaning hard work to describe the bilateral relationship.