Fact Box Current Affairs - 2019

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Fact Box: “Factory Asia”

Chief Economic Advisor Raghuram Rajan recently held that India is looking forward to introduce the concept of ‘Factory Asia’ in economy to develop rapid production networks. Factory Asia is concentrated where infrastructure is good and there is a large pool of untapped potentially productive labour.

What is the concept of “Factory Asia”?

The concept works on the model of manufacturing and producing parts and components by various Asian developing economies to utilise resources efficiently which are assembled into finished product and exported to developed economies. Thus, Factory Asia refers to the model of regional production networks connecting different Asian economies, producing parts and components that are then assembled, with the final product shipped largely to advanced economies.

It started with economic liberalization in China in the late 1980s, aided by rapid development of production networks. The group comprises, among others, China, Japan, South Korea and Indonesia.

Objectives:

  • Boost the exports,
  • Increase employment opportunities,
  • Lift millions of population out of poverty.

 As per Rajan there are four challenges that will take India to Factory Asia:

  1. Supply Chain Management: Provide organised infrastructure to smoothen inter and intra state as well as country connectivity Project costing $90 billion initiated to develop the 1483Km DMIC (Delhi-Mumbai Industrial Corridor) which will have six-lane highways, nine industrial townships, three ports and six airports.
  2. Making India Investor friendly: As Indian investors are risk-averse, effort is required to bring awareness of potential growth to investors facilitating utilisation of undeployed resources.
  3. Reforming Labour laws: Easing of stringent labour laws to increase employment rate.
  4. Skill development: Invest in skills, technologies and private sector to move beyond low cost manufacturing and ensure economic growth.

Month: Categories: Persons in News

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Fact Box: Fire Glass

Fire Glass is tempered glass that is used in fireplaces and fire pits to increase vibrancy, reflection and color. It does not burn, but retains heat and refracts light as a result of burning gas.

Why it is used?

Fire Glass is used to enhance the radiance, reflection and color which also adds to the aesthetic value of the fireplace. It is used to replace artificial gas logs or wood logs. A burner pan with fire glass will radiate 3-4 times more heat with its reflective surface than wood or artificial logs.

How safe is it?

The glass is designed for gas fire pits and gas fireplaces to endure high temperatures without melting, burning, popping or discoloring. The glass does NOT create toxic fumes, smoke, ash, or soot. It usually comes in small shards with rounded edges to decrease risk of cuts.

How shards of ordinary glass are different from Fire Glass?

Unlike Fire Glass, ordinary glass can’t be used in fireplace as it can pop or even shoot out shards. Laminated windshield glass will blacken and melt. Tempered windshield glass incorporates a plastic film that will produce a most annoying smoke & odor and depending upon its chemical make up the gas can also be poisonous.

Month: Categories: Science & Technology

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