Current Affairs Today - Current Affairs 2018

हिंदी करंट अफेयर्स प्रश्नोत्तरी 2018 के लिए यहाँ क्लिक करें.

India ranks 30th on WEF’s Global Manufacturing Index

The World Economic Forum (WEF) has ranked India at 30th position among 100 countries on its Global Manufacturing Index (GMI).

The index was released as part of WEF’s first Readiness for the future of production Report which analysed development of modern industrial strategies and urges collaborative action.

Readiness for future of production Report

The report was developed by WEF in collaboration with A.T. Kearney. It analyses and measures how well positioned 100 countries will shape and benefit from changing nature of production through adoption of emerging technology as part of Fourth Industrial Revolution in production. It calls for new and innovative approaches to public-private collaboration are needed to accelerate transformation.

It has categorised 100 countries into four groups viz. Leading (strong current base, high level of readiness for future), High Potential (limited current base, high potential for future), Legacy (strong current base, at risk for future) or Nascent (limited current base, low level of readiness for future).

Key Highlights of Report

Top 10 countries in GMI: Japan, South Korea, Germany, Switzerland, China, Czech Republic, United States, Sweden, Austria and Ireland.

BRICS nations: China (25th), Russia (35th), Brazil (41st) and South Africa (45th). China was placed among ‘leading countries’. Indian and Russia were placed in ‘Legacy’ group while Brazil and South Africa are in ‘nascent’ ones.

The 25 ‘leading’ countries were placed in best position group to gain as production systems stand on brink of exponential change. No country was placed in frontier of readiness group.

About India: It is 5th-largest manufacturer in world with total manufacturing value added of over US $420 billion in 2016. Its manufacturing sector has grown by over 7% per year on average in past three decades and accounts for 16-20% of India’s GDP. Demand for Indian manufactured products is rising.

India was ranked 9th in terms of scale of production and at 48th place for complexity. It was ranked 3rd for market size. It was ranked poorly (90th or even lower) in parameters like female participation in labour force, trade tariffs, regulatory efficiency and sustainable resources.

Overall, India ranked better than its neighbours Sri Lanka (66th), Pakistan (74th) and Bangladesh (80th). Other countries that ranked below India include Turkey, Indonesia, Canada, Australia, New Zealand, Mauritius and UAE.

World Economic Forum

WEF is independent international organization committed to improving state of world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. It was incorporated as a not-for-profit foundation in 1971. It is headquartered in Geneva, Switzerland.

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IRFC’s green bonds: India INX lists 1st debt security at IFSC

The India International Exchange (India INX) has listed the Indian Railway Finance Corporation’s (IRFC’s) green bonds on its debt listing platform-Global Securities Market (GSM).

With this, IRFC green bonds became first debt security to be listed on exchange at International Financial Services Centre (IFSC) in Gujarat’s GIFT city. India INX’s GSM segment is India’s first debt listing platform. It allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

Indian Railway Finance Corporation

IRFC is finance arm of Indian Railway. It raises financial resources for expansion and running through capital markets and other borrowings. It raises money mainly through financial bonds and from banks and financial institutions. In 2017, IRFC had raised $500 million from 10- year green bond from investors in Asia, Europe and offshore US through listing on the London Stock Exchange (LSE).

Green Bonds

Bonds basically are debt instruments which help issuer to get capital while the investors receive fixed income in the form of interest. In case of Green Bonds, the issuer gets capital from the investors only if investment (capital) is being raised to fund green projects relating to renewable energy or emission reductions etc.

India International Exchange (India INX)

Indai-INX is India s first international exchange at IFSC Gujarat International Financial Tech (GIFT) City, Gandhinagar. It is wholly-owned subsidiary of Bombay Stock Exchange (BSE), through its global bourse. It is one of the world’s most advanced and fastest trading technology platforms with turn-around time of 4 micro seconds. It will operate for 22 hours a day allowing international investors and NRIs to trade from anywhere across globe. It trades in equity derivatives, currency derivatives, commodity derivatives including Index and Stocks. It also offers depository receipts and bonds.

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