Export As Per GDP Lowest In 13 Years

Data from the Centre For Monitoring Indian Economy (CMIE) shows that the botched introduction of Goods and Services Tax (GST) has taken a heavy toll on the exports. Export as per the Gross Domestic Product (GDP) has been the lowest since 2003-04.

According to Livemint, while it can be said that the poor rates of 2017 are due to GST, the numbers for March 2018 are also not an attractive one. The figures could be mostly due to the delay in giving refunds to exporters.

In the last quarter, due to disruptions in the gems and jewellery sector and also because of the Punjab National Bank scam revelation, the sector has not done well.

The engineering sector has not been doing well too. “The engineering sector, which had been leading the basket of goods exports, could manage to grow by a meagre 2.62% in March, making it imperative to redraw our external trade strategy. This is all the more important in the backdrop of more and more protectionism rearing its head. Rising raw material costs, among other factors, have had a crippling impact on the shipments,” EEPC (Engineering Export Promotion Council) India chairman Ravi Sehgal said.

With protectionism increasing in the US, the outlook for exports has been further put in a hazy area. Last Thursday, the US trade representative office said it has launched investigations on whether India was complying with the rules on the Generalised System of Preferences, which could affect the duty-free entry of a host of products from India.

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Written by : Poorbita Bagchi

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This Independence Day, Let’s Free Our Earth Of Plastic

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Indiabulls Housing Finance

“Researchers Find 12,000 Pieces Of Microplastic Per Litre Of Arctic Ice”

“80-Kg Polythene Waste Removed From Cow’s Stomach After A Three-Hour Surgery”

“Pacific Garbage Patch Is Now Three Times The Size Of France”

These are a few news headlines from the past couple of months. No matter how much we try to deny it, over the course of time, plastic has become a part and parcel of our lives and it is destroying the environment and also endangering lives of animals.

While we have been made to believe that plastic is an indispensable part of our lives, it is destroying everything around us. According to UN Environment, about one million plastic drinking bottles are purchased every minute around the world. Also, up to 5 trillion single-use plastic bags are used worldwide every year. This means that almost half of the plastic created in the world is thrown away after a single-use.

All this plastic now ends up either in landfills or in the ocean. The marine life is heavily endangered because of plastic. Reports of aquatic animals dying of plastic pollution are increasing every day. A study from 2015 found around 44,000 incidences of animals getting entangled in plastic debris since 1960s. Plastic, that disintegrates into smaller pieces, are often eaten by smaller fish, which the ultimately ends up in our stomach. That is carcinogenic for human beings.

It is in this context that Indiabulls Home Loans has decided to do its bit and contribute to a plastic free environment. Setting the tone in its own offices, the company has decided to do away with single-use plastic bags and bottles at work.

As a special Independence Day initiatives, they have come up with a beautiful video #PlasticSeAzaadi. In the video, set against the backdrop of an Independence Day celebration at school children discuss the demerits of plastic use and how it is detrimental to the environment.

As with many important matters in life, it is children who recognize the right path and set the example. If they can, then why it is that adult can’t?

The Logical Indian appreciates Indiabulls Home Loans for such a noble and necessary initiative to make our world a better place. We might not realize now, but the effects of excessive plastic could lead to ultimate destruction of Earth. We are ready to give up plastic, are you?

Export As Per GDP Lowest In 13 Years

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