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E-commerce is 1.6% in India, 15% in China: World Bank report

New Delhi (NVI): Although E-commerce has grown significantly in South Asia, online sales accounted for a mere 1.6 percent of total retail sales in India, compared to 15 percent in China and around 14 percent globally, according to a new World Bank report.

Launched today in Delhi, the report ‘Unleashing E-Commerce for South Asian Integration’ says that increasing the use of E-commerce by consumers and firms in South Asia could potentially help increase competition and firm productivity, and encourage diversification of production and exports.

“E-commerce can boost a range of economic indicators across South Asia, from entrepreneurship and job growth to higher GDP rates and overall productivity,” said Sanjay Kathuria, World Bank Lead Economist and co-author of the report.

“By unleashing its online trade potential, South Asia can better integrate into international value chains, increase its market access, and strengthen commercial linkages between countries across the region,” he said.

A survey of over 2,200 firms in South Asia showed that the top concerns on cross-border e-commerce sales included e-commerce related logistics, e-commerce and digital regulations, and connectivity and information technology infrastructure.

These barriers are significantly higher when trading with other South Asian countries. The main international e-partners of firms in South Asia are China, the United Kingdom, and the United States, and not other South Asian countries.

Small and medium enterprises in the region reported that removing regulatory and logistical challenges to e-commerce would increase their exports, employment, and productivity by as much as 20–30 percent.

To overcome these hurdles, the report proposes reforms in areas such as payments, delivery, market access regulations, consumer protection, and data privacy, at the national, regional, and global levels.

“Some practical steps to strengthen online transactions include leveraging the reputation of large e-commerce platforms to offer consumer protection, return and redress, and data security as an initial substitute for robust contractual and consumer protection mechanisms, and permitting cross-border e-commerce payments,” said Arti Grover, World Bank Senior Economist and co-author of the report. The report also suggests an incremental approach to taking these steps, if necessary, in order to build confidence.

“While cross-border trade within South Asia represents only 5 percent of the region’s total trade, e-commerce has the potential to stimulate regional trade by bridging the gap between buyers and sellers on different sides of national borders,” said Viviana Perego, World Bank Agriculture Economist and co-author of the report. “And apart from firms, consumers in South Asia stand to gain significantly from the potential reduction in costs and availability of a greater variety of e-traded goods and services.”

Violent protests over Citizenship Amendment Act unfortunate: PM Modi

New Delhi (NVI). Amid the reports of violent protests pouring in from several parts of the country Prime Minister Narendra Modi today called upon the nation to maintain peace, unity and brotherhood. He assured that the Citizenship Amendment Act does not affect any citizen of any religion.

In a series of tweets PM Modi said that the violent protests on the Citizenship Amendment Act (CAA) are unfortunate and deeply distressing.

“I want to unequivocally assure my fellow Indians that CAA does not affect any citizen of India of any religion. No Indian has anything to worry regarding this Act. This Act is only for those who have faced years of persecution outside and have no other place to go except India,” PM tweeted.

In his message PM said that the damage to public property and disturbance of normal life have never been a part of Indian ethos. He urged people to maintain peace while indulging in debate, discussion and dissent.

PM appealed everyone to stay away from rumours and defeat the vested interest groups who seek to divide and create disturbances.

“The need of the hour is for all of us to work together for the development of India and the empowerment of every Indian, especially the poor, downtrodden and marginalized,” tweeted PM Modi.

The Citizenship Amendment Act, 2019 was passed by both Houses of Parliament with overwhelming support. Large number of political parties and MPs supported its passage.

Modi lauds Bangladesh’s all-round progress

New Delhi (NVI): Prime Minister Narendra Modi today commended the progress made by Bangladesh in every sector under the dynamic leadership of Prime Minister Sheikh Hasina.

The Indian premier’s praise came when Bangladesh’s outgoing High Commissioner to India Syed Muazzem Ali made a farewell call on him at his office this morning, according to a press statement issued by the Bangladesh High Commission here.

During the 30-minute meeting, Modi conveyed his regards to Hasina and his appreciation for inviting him to Bangladesh for the centenary celebration of the birth of Father of the Nation ‘Bangabandhu’ Sheikh Mujibur Rahman next year.

“I look forward to attending the ceremony,” Modi told the envoy, according to the release.

He also thanked the outgoing high commissioner for the contributions he made in promoting the India-Bangladesh relations, seen as a golden chapter, during his five-year tenure, it added.

The envoy presented the Premier a framed ‘Nakshi Kantha’, which represents a traditional Bengali craft.

FM starts pre-Budget consultations

New Delhi (NVI): Union Finance Minister Nirmala Sitharaman today began pre-Budget consultations with different stakeholders by meeting groups from digital economy, fintech and start-ups.

During the meeting, many speakers suggested giving tax sops to start-ups and nurturing them in the country.

Sitharaman is expected to present the Budget for 2020-21 on February 1.

The main areas of discussion during the meeting included data issues such as use of big data technology, phenomena by analysing large data sets, use of big data technology for SME sector and unleashing the power of big data for public governance, an official relase said.

Other issues which dominated the discussion included digital infrastructure and role of government, regulation of digital economy especially in privacy, financial regulation, ease-of-doing-business environment for start-ups, infrastructure gaps for digital India and taxation issues.

The representatives of digital economy, fintech and start-ups shared their views and suggestions regarding big data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation and incentives for pushing digital penetration in rural areas, the release said.

They also presented their views with regard to corporate guarantee to start-ups for competing with other nations, rationalisation of MAT tax rate, tax exemption for start-up units, creation of specific agency for looking after cross-border financial crimes.

Suggestions about increasing women employment (gender dividend in skill development), training youth in skill development along with international internships and incentivising Research & Development (R&D) within India were also shared by the stakeholders.

While the experts suggested improvements in their respective fields, they also gave a variety of solutions to the sector specific problems.

Coal Ministry to set up cell for eco-friendly mining

New Delhi (NVI): The Coal Ministry has decided to establish a ‘Sustainable Development Cell’ (SDC) to promote environmentally-sustainable coal mining in the country and address environmental concerns during the decommissioning or closure of mines.

The move assumes significance as new private entities are now going to form a significant part of the process to rehabilitate the mines in tune with global best practices, for which a set of guidelines need to be evolved.

“The Sustainable Development Cell envisages to address the environment mitigation measures in a systemic manner and to  provide a better environment to people working and residing in the vicinity of mines,” an official statement said.

The SDC will advise, mentor, plan and monitor the mitigation measures taken by the coal companies for maximising the utilisation of available resources in a sustainable way,  minimising the adverse impact of mining and mitigating it for further  ecosystem services, the  statement said.

It will act as nodal point at Ministry of Coal level in this matter.

This cell will also formulate the future policy framework for the environmental mitigation measures including the Mine closure Fund, the statement said.

The SDC will adopt a systemic approach,starting from collection of data, analysis of data, presentation of information, planning based on information; by domain experts, adoption of best practices, consultations, innovative thinking, site-specific approaches, knowledge sharing and dissemination and finally end with an aim to ease the lives of people and communities in general.

In India, approximately 2,550 sq kms of land is under different coal mines and there are also plans to bring more areas under it. These land masses require both extensive and intensive amelioration measures and will be carried out as per a procedure.

The coal companies would be advised on effective implementation of environmental mitigation measures, like water sprinkling, dust suppression methods and noise barriers.

The plan will suggest ways and also have innovative planning to storage, treatment and re-use of such water for drinking, irrigation, fisheries, tourism, industrial or any other sustainable purpose.

The cell will also check feasibility and suggest measures to reuse, recycle and rehabilitation of over burdened dumps in a sustainable manner.

It will examine and plan out use of overburdened material for use in different infrastructure projects, earthen bunds etc.

The plan will also include exploration and conceptualisation of the beautification and creation of eco parks in the reclaimed areas.

It will include water bodies etc., for re-creation activities and tourism purpose. It will also explore tourism potential and plan it  out in few underground mines.

Sensex and Nifty erase gains, turns red

BSE

Mumbai (NVI): Benchmark indices Sensex and Nifty erased early gains and turned flat during the early morning trade.

The 30-share BSE Sensex was 7.07 points down at 41,002.64. It opened at 41,168.85.

Similarly, The 50-scrip NSE Nifty fell nearly 12 points to 12,074.95

Meanwhile, Indian rupee appreciated by 8 paise to 70.75 against the US dollar in early trade.

On Friday, the 30-share gauge ended 428 points that is 1.05 per cent higher at 41,009.71. While, the Nifty settled 114.90 points or 0.96 per cent higher at 12,086.70.

Delhi air quality remained ‘moderate’

New Delhi(NVI): The overall air quality in national capital today remained in the “moderate” category.

According to System of Air Quality and Weather Forecasting And Research (SAFAR),the Air Quality Index (AQI) in the national capital stood at 156 which falls in the “moderate” category.

The AQI in the Delhi University was in the “moderate” with the PM2.5 of 160, followed by PUSA, Lodhi Road and Mathura Road with the recorded PM 2.5 count of 142, 135 and 170 respectively which also falls in the “moderate” category.

While, the AQI in Chandini Chowk was recorded in the ” very poor” category with PM2.5 of 308.

The neighbouring Noida recorded a PM2.5 of 246 which falls in the “poor” category, SAFAR added.

An AQI between 0-50 is considered “good”, 51-100 “satisfactory”, 101-200 “moderate”, 201-300 “poor”, 301-400 “very poor” and 401-500 “severe”. An AQI above 500 falls in the “severe plus” category.

World community lost opportunity at COP25: Guterres

Madrid (NVI): The UN Climate Summit COP25 ended here today without an agreement on the issue of global carbon markets.

Delegates from almost 200 nations had gathered for the meet where the delegates engaged in the longest ever climate talks. However, the Summit ended with modest agreements.

There was no agreement on the key issue of global carbon markets and the matter was deferred until next meet.

Expressing disappointment over the development, UN Secretary-General António Guterres said the international community lost an important opportunity to show increased ambition on mitigation, adaptation and finance to tackle the climate crisis.

“I am disappointed with the results of #COP25,” Guterres tweeted adding “…but we must not give up, and I will not give up.”

In a series of tweets, Guterres reiterated his commitment to achieve carbon neutrality.

“I am more determined than ever to work for 2020 to be the year in which all countries commit to do what science tells us is necessary to reach carbon neutrality in 2050 and a no more than 1.5 degree temperature rise. #ClimateAction,” he tweeted.

J&K targeting to double quantum of milk processing in 2 years 

Jammu (NVI): Jammu and Kashmir is targeting to double the quantity of milk processing in the next years from the current level of 2.5 lakh litres each day.

J&K produces 25.41 lakh MT milk annually.

Lt. Governor G C Murmu, while reviewing the working of Animal and Sheep Husbandry department, called for increase in milk production and development of poultry estates for filling the gap between demand and supply of milk and poultry in the Union Territory.

He stressed the need for involving cooperative societies and encourage the farmers for dairy farming while noting that Animal and Sheep Husbandry is a major sector that caters to the needs of a large chunk of population in Jammu and Kashmir.

During the meeting, the Lt. Governor was informed that there are 2200 veterinary centres across Jammu and Kashmir.

He directed the animal husbandry department to cover the entire J&K under the service of mobile veterinary dispensaries which would be equipped with state-of-the-art facilities.

While reviewing the working of Fisheries Department, the Lt. Governor was informed that the department has imported genetically modified Rainbow Trout Seed from Denmark to boost the production of trout fish, which will also attract the farmers towards the fish farming due to its high returns.

Jammu and Kashmir produces about 600 MT or 71 percent of trout fish in India, the meeting was told.

The Lt. Governor asked the officers to further enhance the fish production to make it a lucrative self-employment option.

The Lt. Governor observed that the poultry industry has remained the most dynamic and fastest growing segment in the animal husbandry subsector. He pitched for involving unemployed local youth in poultry sector and develop poultry estates on scientific lines.

He directed the concerned authorities to ensure better health facilities and vaccination for the livestock so that farmers related to this sector don’t face any kind of problem.

He also emphasised on establishing the wool processing units in Jammu and Kashmir, as despite being the second largest producer of wool, the Union Territory does not have wool processing plants.

The Lt. Governor said that the people be made aware about departmental and welfare schemes launched by the government so that they could avail maximum benefits.

Plans afoot for big campaign to boost J&K tourism

Jammu (NVI): The Jammu and Kashmir government is planning a major campaign within the country and abroad to project the newly-created Union Territory as a top tourist destination.

The campaign will involve conduct of road shows and affiliated activities in a number of cities across the country and some key places in certain foreign countries.

The circuits where the road shows are being planned in the coming months include Ahmedabad-Surat-Baroda, Lucknow-Varanasi-Patna-Ranchi, Bangalore-Mysore, Chennai-Kochi, Mumbai-Pune-Nasik, Nagpur-Indore-Bhopal, Kolkata-Bhubeneshwar-Puri at the domestic level.

At international level, the road shows will be conducted on Thailand-Bangladesh-Indonesia circuit, Dubai-Sharjah-Abu Dabi circuit and Jeddah-Riyadh circuit.

The road shows will also include business-to-business interactions, business-to-consumer interfaces, press conferences and invitions to leading travel and trade fraternity of the visiting cities.

The government of the Union Territory, headed by Lt Governor G C Murmu, is also planning to hold the first Investors’ Summit with an aim of boosting the prospects of employment generation and development.

The summit was first proposed to be held on October 12 but was postponed amid continued restrictions in the UT.  It is now expected to be held in the coming months.

Jammu and Kashmir continues to be under restrictions since its special status, granted under Article 370, was abolished in August and the state was converted into a UT.

Murmu recently said the investor summit would be held soon so that investments pour into the Union Territory for its development and creation of employment opportunities for the youth.

He said about 30,000 to 40,000 employment opportunities would be created for the youth of Jammu and Kashmir.

“We want investments to pour in here so that people get jobs and there is overall development. That is why we are preparing for an investor summit which will take place soon,” the LG said while addressing an event in Ganderbal in Kashmir weeks back.

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