People of Britain have cast their vote and the results are out, Britain will leave Europe after 43 years of staying together. Opinions are divided on whether Britain was right to leave Europe. Pro-Business camp felt let down as their products would be hard to sell within Europe and hiring of young immigrant workers from Europe will not be easy now. While others have felt Britain gives a lot as the membership fee to stay in EU without anything much in return.
Taking a step back from all this, what is the potential impact for India?
1. The stock market reacted as expected and wiped away 4 lakh crore of investor wealth. However, given the sizeable amount of forex reserves, low inflation among other strong fundamentals, India is expected to bounce back from this plunge.
2. Indian companies in Britain – All the Indian companies in Britain like Tata Motors and others, their stocks have come crashing down on an average of 7%. Indian investors uncertain over the repercussions of the exit have gone on a selling spree after the news of BREXIT broke out. Indian companies in Britain will have their tasks cut out for the coming future given the partial delinking of Britain from the European market.
3. Countering United States – Asian countries and other small economies all are wary of a unipolar world with the US at the helm, the EU provided the counterbalance to the US for other countries to exploit. The exit of Britain weakens Europe significantly and the chance of a bipolar world. There is every reason for Asian countries to be nervous about BREXIT.
Good news is there as well
4. Borrowing in pounds – For all the companies which had borrowed in pounds, they will have to pay less now given the 10 % slide in the currency.
RBI governor has calmed things down post BREXIT news, while the ruling party has allayed fears over the potential consequences of BREXIT, Congress Jairam Ramesh speaking to The Hindustan Times termed BREXIT as a “suicide” committed by Europe.
“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 Loansfor 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?