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News: World Bank’s chief economist for South Asia has urged India to reduce tariffs and ease Foreign Direct Investments (FDI) to reap full potential of its sophisticated industrial base and skilled labour force.
1. Foreign Direct Investment (FDI): It refers to investing in business or asset in another country, enabling the investor to have significant degree of influence or control over the business operations.
2. Some of the benefits of FDI include: A) Economic Growth B) Technology and Skill Transfer C) Employment Generation D) Human Resource Development
3. In India, FDI comes through the Automatic route or the Government route.
4. Logistics Performance Index (LPI): It is a tool developed by World Bank to evaluate and compare the logistics performance of the countries.
5. It assigns scores to countries on 6 key dimensions: A) Custom Performance B) Infrastructure Quality C) Ease of Arranging Shipments D) Logistics Service Quality E) Consignment Tracking and Tracing F) Timeliness of Shipments
6. India is ranked 38/139 countries in the 2023 Logistics Performance Index (LPI).
