Economy of India Current Affairs - 2019
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Chairman of IT major Wipro and philanthropist Azim Premji was bestowed with highest French civilian distinction Chevalier de la Legion d’Honneur (Knight of the Legion of Honour). He was awarded for his outstanding contribution to developing information technology industry in India, his economic outreach in France and his contribution to society as philanthropist through the Azim Premji Foundation and Azim Premji University
Legion d’Honneur (Legion of Honour)
It is the highest civilian award given by the French government to person for his outstanding service to France, regardless of the nationality of the recipients. It was instituted in 1802 by Napoleon Bonaparte. The order (merit for both military and civil merits) is divided into five degrees of increasing distinction: Chevalier (Knight), Officier (Officer), Commandeur (Commander), Grand officier (Grand Officer), and Grand-croix (Grand Cross). President of France is the Grand Master of the Order of the Legion of Honour. Some of the past Indian recipients of this prestigious award include renowned scientist and Bharat Ratna awardee C N R Rao, superstar Shah Rukh Khan, Amitabh Bachchan Amartya Sen, Ravi Shankar, Zubin Mehta, Lata Mangeshkar, JRD Tata and Ratan Tata among others.
Tags: awards • Azim Premji • Business • Civilian Honour • Economy of India • Gujarati people • India-France • Indian people • J. R. D. Tata • Kutchi people • Legion d'Honneur • Legion of Honour • Military awards and decorations of France • Ratan Tata • Wipro
Union Minister of Commerce & Industry and Civil Aviation Suresh Prabhu launched logo and brochure of Logix India 2019 in New Delhi. Logix India 2019 is scheduled to take place in New Delhi from 31stJanuary to 2nd February 2019. It is being organized by Federation of Indian Export Organisations (FIEO).
Logix India 2019
It aims to serve as major initiative to improve logistics cost effectiveness and operational efficiencies for India’s global trade. It will enable effective international trade logistics and help provide efficient and cost-effective flow of goods on which other commercial sectors depend
Over 20 countries are going to participate in this event. Through Logix India 2019, FIEO will also focus on investment opportunities in infrastructure development, technology integration, warehouse consolidation and IT enablement andskilling of manpower at the three-day meet.
Need for integrated Logistics sector development
The logistics cost in India is very high compared to developed countries. High cost reduces competitiveness of Indian goods both in domestic as well as export market. Logistics sector is expected to grow to US $360 billion by 2032 from current US $115 billion. Increasing globalization of Indian economy, along with renewed manufacturing vigour attributed to Make in India Campaign and growth of e-commerce business all forecast rapid growth in Indian logistics sector. India was ranked 44 in World Bank Logistics Performance Index 2018. As per Economic Survey 2017-18, India’s logistics industry which is worth around US $160 billion is likely to touch US $215 billion in the next two years. This sector provides employment to more than 22 million people and is expected to grow at rate of 10.5% over the next 5 years. Logistics is also backbone of India’s international trade and will help in diversification of not only India’s export basket but also of products and countries.
Tags: Business • Economy of India • India • Logistics • Logistics sector • Logix India 2019 • Lok Sabha • Multi-Modal Logistics Parks in India • National • Parliament of India • Suresh Prabhu • Systems engineering