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Pacific University JournalPacific University JournalPacific University Journalofofof

Social SciencesSocial SciencesSocial Sciences

Issue 2 25 May, 2019 UdaipurVol. 3

Indexed in : Scientific Indexing Services | Scientific Journal Impact Factor (4.276)

Continue to be a Green Customer: A Study on Green Management & Sustainable

Practices with Special Reference to Green customers in Retail Industry

Dr. S.K.Dixit, Dr. Bhanupriya Khatri, Puja Jena, Ujjawala Kirti

Microfinance Empowering Well- Being of BPL Families of Udaipur District in

Rajasthan

Prof. S.L. Menaria, Vivek Katara

A Study Between Overseas and Coastal Trade at Indian Major Vs Minor Ports

Dr. Aparna Banerjee, Dr. Sudakshina Gupta

Tax Planning for Refund in Case of Exports Under GST Regime : A Case Study of

Vardhman Textiles Ltd.

Dr. Manpreet Kaur

The New World's BARTER – TETOOTA KYA TOOTA.....

Dr. Khushboo Makwana, Prof. Shaan Malhotra, CA Priyanka Jain

Digital Education: Future Prospects in India

Surbhi Jain

Sustainability of Globalisation and Its Dimensions with Environmental Elements :

Evidence From India

Somnath Das

1

12

18

24

31

34

39

Pacic University Journal of Social Sciences 25 May, 2019, Udaipur

[email protected]

Pacic University Journal of Social Sciences Vol. 3, Issue 2

It is a pleasure to present you before the volume two of third issue of the Pacific

University Journal of Social Sciences and Humanities. This journal covers our

entire spectrum of subjects ranging from management to law to history,

geography, psychology, and many more. As we know, there are a number of

journals which may cover the above specified areas, but this journal is unique

in that it encourages authors to submit their research papers addressing the

scientific aspects together with practical aspects also.

The intrusion of technology and social media in our lives has changed the way

we work the way we socialise, the way we relate to one another in professional

and personal lives. This journal is our way of keeping pace with today’s rapid

changes in education which ultimately will effect all aspects of our life.

Keeping this goal in mind we have accepted research papers from a broad

spectrum of subjects. I am amazed by the sheer number of articles that keep on

coming for the journal, which shows the creative energy and research

enthusiasm of the contributors.

I would like to take this opportunity to thank the editorial board members for

their dedication and commitment to the standards for which the journal

aspires. Finally, I thank all the authors, reviewers and readers for their quality

work, suggestions and support for making this journal a success.

Editorial

Dr. Bhawna DethaDean, Faculty of Social Sciences & Humanities

PAHER University

25 May, 2019, Udaipur

1

Abstract

Green Movement is becoming the buzzword of today's business world. Worldwide, most of the sectors have awakened to the ramifications of the environmentalism boom, resulting in high level public awareness of climate change and energy efficiency. Businesses across the world are developing green strategies and are working towards developing a low carbon landscape and undertaking efforts to optimize the carbon efficiency of existing products and infrastructure. The research has been conducted at different malls of Bhubaneswar. This research study includes 250 sample size and the study has been conducted to examine the green management practices in Retail Industry, choices of customers regarding green management practices, reasons for using green products, preference of sources from which the companies can purchase green products and perspectives of customers regarding green management.

Key words: Green Management, Green Customer, Retail Industry

Introduction

Green management is all about awareness, which indicates environmental, health & safety guidelines. The word “green” means positive vibes towards our environment. According to Sam Ashe-Edmunds “small business that go green save money & improve their corporate images. Switching to an eco-friendly office , plant , store or products can temporarily decrease your profits

Continue to be a Green Customer: A Study on Green Management &

Sustainable Practices with Special Reference to Green customers in

Retail Industry

Dr. S.K. DixitDirector, NIIS Group of Institutions, Bhubaneswar

Dr. Bhanupriya KhatriAssociate Professor, NIIS Institute of Business Administration,

Bhubaneswar

Puja JenaStudent, MPMIR, NIIS Institute of Information Science &

Management, Bhubaneswar

Ujjawala KirtiStudent, MPMIR, NIIS Institute of Information Science &

Management, Bhubaneswar

Pacic University Journal of Social Sciences Vol. 3, Issue 2 25 May, 2019, Udaipur

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& reduce productivity, but small business can make green changes much faster than large corporation, limiting the impact to a relatively short period. Balancing the way you go green minimizes the disadvantages & maximise the benefits of improving your carbon footprint in your community”.

Green business means eradicate the negative impact on the global, community, society then triple bottom line which means businesses must pick up three elements for the sustainability to help the society achieve the interlinked goals of environmental protection & social equity and the most important factors of triple bottom line are planet, people & profit then sustainable Business which means careful usage of resources by businesses , communities & citizens.

In India the retail industry is one of the most sunrise sectors in the economy. India is said to be one of the largest emerging market, due to its population over 1.3 billion. India is one of the largest economies' in the world in terms of purchasing power and has a strong middle class base of 400 million populations. The main functional areas of green retail organization include Retail supply chain, Customer facing component and Facilities and infrastructure.

Now a days, Customers are more and more worried about environment and their health. Consumers are very much conscious about their environment as well as communities so retailer should look after their needs by adopting green practices.

Review of Literature

In today's marketplace, retailers face growing consumer concerns about climates and how best to protect environment. Ranjith kumar N. & Sakthivel R. (2015) studied the objective of retailing industry is to maximize the wealth of all its stakeholders. In pursing this endeavour of wealth maximization, it tries to maximize the profits. The main intension was that maximise the profit of mass customer base by offering them quality goods and services at an affordable price. It has become difficult for these retailers to survive in the present scenario solely on the basis of marketing mix elements, and to make available the

right merchandise mix for different segments of the consumers', retailers needs to keep the prices on lower side and inform their customers about their efforts regarding lower prices and their concern for other issues like environment and corporate social responsibilities. Retailers need to have social responsibility of going green with respect to the products and services that are supplied by them to the customers. Packaging companies have developed more environment f r i endly packag ing , which i s recyc led , biodegradable, reusable and less bulky in recent years.

Ninlawan C., Seksan P., Tossapol K., and Pilada W (2010) research aims to survey current green activities in computer parts' manufacturers in Thailand and to evaluate green supply chain management. Supply chain management is the coordination and management of a complex network of activities involved in delivering a finished product to the end-user or customer. All stages of a product's life cycle will inuence a supply chain's environment burden, from resource extraction, to manufacturing, use and reuse, final recycling, or disposal. Beyond this, with adding the “green” component, it refers to green supply chain management .The main motto of them that to promote refurbishing and recycling through campaigns/ ac t iv i t i es to ra i se reuse/recyc le awareness in e lec t ronics consumption explore GSCM pressure/ driver within Thai electronics industry is used to obtain survey results. Then suggestions to develop GSCM in electronics industry are presented.

Dr. Chellam V.V. (2016) Increased urbanisation, amplifying disposable incomes and lifestyle changes of resident are changing are transforming malls into retail destination .Retail marketing is the process by which retailers promote awareness and interest of their goods and services in an effort to generate sales from their consumer. Retailing is the interface between the producer and the individual consumer buying for personal consumption. A retailer is one who stocks the producer's goods and is involved in the act of selling is to the individual consumer, at a margin of profit. A retailing is the last link that connects the individual consumer with the manufacturing and distribution chain. By using customer inside software, retailers can see how customer interacts with their brand and


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integrate the customers experience across the channel. It is extremely important for companies to develop rightful and effective green product and marketing strategies which can eliminate the need for green washing and lead to greater profits and consumer assistance. A company that is honest and genuinely committed to sustainability can earn the respect and loyalty of consumers. Many retailers at the world level started for going green retailing.

Sinha R, Chauduri R, Dhumes (2014) studied method of selling goods and services. Retailing is the distribution process In which all the activities are involved in selling the merchandise directly to final consumer. Basically it refers to sale of goods and services from a point of purchase to the end user who is going to use the product. Green Retailing (GR) refers to the managing of retail business that care for the environment and takes advantage of environmentally friendly processes. Green practices have been adapted by most of the retailers having multiple effect of environmental pressure on consumers and suppliers. Retail industry plays an important role in leading production, promoting consumption and enlarging employment to promote the economic and social development. It is an activity that brings demand and supply together and links the production in the upstream to consumption in the downstream. The current rapid growth in the economy and the patterns of consumers' consumption and behaviour worldwide are the main cause of environmental deterioration

M. Alex Syaekhoni, Ganjar Alfianand, Young S. Kwon (2017) had implemented in the retail industry for marketing field, including green product promotion. This study aimed to propose a customer purchasing behaviour analysis as an alternative for supporting decision-making in order to promote green products in retail stores. The main thing of research is green promotion; green marketing; customers' shopping behaviour store analysis; clustering. Green purchasing refers to purchasing products that provide positive environmental benefits and avoiding products that harm the environment . A green product refers to a product that meets customers' needs without harming the environment and contributes toward attaining a more sustainable world.

In a more recent study, green image of retailers was found to inuence store loyalty Yusof, Musa, & Rahman, (2011) The environment aspect of retailing has been much studied as one of the important initiatives of CSR. In fact, among other initiatives, environmental issues were among the most commonly reported by retailers, especially the food retailers. The increase in green consumerism and also regulations by the government, companies are enforced to incorporate the environmental agenda in their strategy.

Naidoo M, Gasparatos A, (2018) emphasized retailers are increasingly required to decrease the internal and external environmental impacts of t h e i r o p e r a t i o n s . T o a c h i e v e t h i s t h e y progressively adopt dif ferent corporate environmental sustainability (CES) actions and strategies. Retailers are increasingly adopting environmental protection initiatives to improve their value chain operations and although there may be a combination of reasons, there is usually a primary motivation for companies to' go green'.

Sikri S & Ms Wadhwa D, (2012) emphasized Retailing is one of the pillars of the economy in India. Over the past few years, the retail sale in India is hovering around 33-35% of GDP as compare to 20% in the US. The Indian retail industry is the fifth largest in the world. The Indian retail industry is currently growing at a great pace and is expected to go up to US $ 833 billion by the year 2013 .In the last four years consumer spending in India has climbed up to 75%. Retailing is one of the biggest sectors and it is witnessing revolution in India. India's retail market is expected to grow tremendously in next few years. According to AT Kearney, The Windows of Opportunity shows that Retailing in India was at opening stage in 1995 and now it is in peaking stage in 2006. The first few companies to come up with retail chains were in textile sector, for example, Bombay Dyeing, S Kumar's, Raymond's, etc. Later Titan launched retail showrooms in the organized retail sector. The report highlights strongly underlying economic growth, population expansion, increasing disposable income and rapid emergence of organized retail infrastructure as major factors behind the forecast growth.


4

Research Methodology

A. Objectives of the Study

1. To study the existing assessment of pedagogy in colleges.

2. To know the pedagogical methods used by academicians.

3. To study the teachers views related to F a c u l t y e x c h a n g e p r o g r a m , Collaborative teaching, Research oriented study and strategies for improvement of the students.

4. To examine the teachers' perspectives related to different pedagogy related tools & techniques.

B. Motivation of the Research

1. Pedagogyis the crucial element in the learning of the students and it directly affects development of the students.

2. Pedagogy is related to teaching and it is the most imperative job in the world.

3. India lacks practical education.

4. The change in pedagogy is not in proportional to change in recent development in business, commerce and industry.

C. Target Group & Target Area: Management andCommerce Academicians of Odisha

D. Sample Size: 250

E. Sampling Method: Convenience Sampling

F. Data Collection Method

Primary Method

1. Online questionnaire was designed for data collection from both Commerce and Management Academicians.

2. Online questionnaire link sent to E-mail Ids of the target groups.

3. In this study, LinkedIn is also used to collect the data as links were sent to the target group straightforwardly.

4. Snowball technique is also used to collect the data.

5. E x p e r i e n c e a n d o b s e r v a t i o n o f researchers.

Link for Questionnaire

https://docs.google.com/forms/d/e/1FAIpQLSd g K i A L Q T P h R d G H f 8 y D Y k -fXDw0_KG6neC7TOwn7mcTZCtbow/viewform

Secondary Method

Journals, Magazines & Internet


Figure 1 : Proportion of Green Management Practices in Retail Industry

Green Management Practices in Retail Industry

I haveseen the

use ofrenewable

sourcelike solarenergy ...

8

1.9323.743.882.644.18842.1962.6723.02Mean

I thinkshopping

mallsneed toadoptmore

green...7

I thinkthat the

employees of the

retailstoresneed...

6

I thinkshoppingmalls are

consumingmore

power &resource...

5

I think thebill for

shoppinggoods/services

should besent as...

4

I haveseen

separatedustbins

forbiodegradable & ...

3

I thinkprices ofthe greenproducts

areappro‐priate

2

I thinkretailers

arefollowingthe greenmanagem

ent...1

Axi

s Ti

tle

4.54

3.53

2.52

1.50

1.932

4.188

2.1962.672

3.022.64

3.88 3.74

Source : Table 1

Data Analysis

Part A: Regarding Green Management Practices in Retail Industry

5


Table 1: Distribution of Green Management Practices in Retail Industry

S.

No.

Statements

Strongly

Agree

Agree

Neutral

Disagree

Strongly

Disagree

Mean

1 I think retailers are following the green management practices in

general.

63

30

20

123

14

3.02

2 I think prices of the green products are appropriate

20

51

56

73

50

2.672

3 I have seen separate dustbins for biodegradable & non

biodegradable waste

18

33

33

62

104

2.196

4 I think the bill for shopping goods/ services should be sent as

sms to mobile despite of wasting papers

125

87

12

12

14

4.188

5 I think shopping malls are

consuming more power & resources as compared to

departmental stores

44

25

44

71

66

2.64

6 I think that the employees of the retail stores need training

regarding the environmental awareness.

104

66

44

18

18

3.88

7 I think shopping malls need to

adopt more green techniques during construction of building

& infrastructure

103

61

39

12

35

3.74

8 I have seen the use of

renewable

sources like solar energy & wind

energy etc. in this shopping mall

11

16

32

77

114

1.932

Source : Primary Data

Inference: Figure 1 shows proportion of green management practices in retail industry, this graph depicts that the mean for retailers are following the green management practices in general is 3.02, the mean for price of the green products are appropriate 2.672, the mean for separate dustbins for biodegradable & non biodegradable waste is 2.196, the mean for the bill for shopping goods/services should be sent as sms to mobile despite of wasting papers is 4.188,

mean for shopping malls are consuming more power & resources as compared to departmental storeis 2.64, the mean for employees of the retail stores need training regarding environmental awareness is 3.88 the mean for shopping malls need to adopt more green techniques during construction of building & infrastructure is 3.74 whereas the mean for use of renewable sources like solar energy & wind energy etc. in shopping mall is 1.932.

6


Part B: Regarding Choices of Customers regarding Green management

Table 2: Distribution of Choices of Customers regarding Green management

S.

No.

Statements

Strongly

Agree

Agree

Neutral

Disagree

Strongly

Disagree

Mean

9 I am a green customer

53

32

25

104

36

2.848

10 I always prefer cloth bag/jute bag despite of polythene bag

58

81

71

32

8

3.596

11 I avoid packaged goods

32

26

38

41

113

2.292

12 I prefer online shopping in comparison to market shopping

68

63

39

47

33

3.344

13 I am used to purchase Eco -

friendly

products

13

37

24

117

59

2.312

14 I am satisfied about the quality and

performance of Green products 116 73 38 11 12 4.08

15 I am ready to pay extra money for

eco friendly products 117 32 12 55 34 3.572

16 I can easily switch the brand because of environment friendly reasons

55 72 32 46 45 3.184

17 I can easily distinguish between eco friendly products &non-

eco friendly

products

22 30 28 51 119 2.14

18 I use to ride bicycle and use public transportation for shopping

10

16

29

82

113

1.912

19 I prefer to see the ingredient

composition & check whether the products are environment friendly

or not

115

72

10

36

17

3.928

20 I used to separate biodegradable &

non biodegradable waste

113

84

18

15

20

4.02


7

Figure 2 : Proportion of Choices of Customers Regarding Green Management

Inference : Figure 2 shows that proportion of c h o i c e s o f c u s t o m e r s r e g a r d i n g g r e e n management. It shows that the mean for people are green customer is 2.848, the mean for preferring cloth bag/jute bag despite of polythene bag is 3.596, the mean for avoiding packaged goods is 2.292, the mean to prefer online shopping in comparison on to market shopping is 3.344 the meanfor purchase of eco-friendly products is 2.312 the mean for satisfaction about the quality and

performance of green productsis 4.08, the mean to pay extra money for eco-friendly product is 3.572 the mean for easily distinguishing between eco-friendly& non eco- friendly products is 3.184,the mean for r id ing b icyc leand use publ i c transportation for shopping is 1.192, 3.928% the mean for looking the ingredient composition & check whether the products are environmental friendly or not is 3.928, the mean for separating biodegradable waste is 4.02 .

Choices of customers Regarding Green Management

I used

to

separ

ate

biode

grada

ble &

non

biode

grada

ble

waste

20

4.02

I

prefer

to see

the

ingredi

ent

compo

si�on &

check

whethe

r the

prod...

19

3.9281.9122.143.1843.5724.082.3123.3442.2923.5962.848Mean

1817161614131211109

4.5

4

3.5

3

2.5

2

1.5

1

0.5

0

Mea

n 2.292 2.312

3.3443.596

2.8483.184

2.141.912

3.928 4.02

3.572

4.08

I am a

green

custo

mer

Ialwayspreferclothbag/jute

te bagdespite

of polyth

enebag

I avoid

packag

ed

goods

I

prefer

online

shoppi

ng in

compa

rison

to

marke

t

shoppi

ng

I am

used

to

purcha

se Eco‐

frien

dly

prod

ucts

I am

sa�sf

ied

about

the

quality

and

perfor

mance

of

Green

produc

ts

I amreadyto payextra

moneyforeco

friendly

products

I caneasilyswitch

thebrandbecauseof

environmentfriendly

reasons

I can

easily

dis�ng

uish

betwe

en eco

frien

dly

produc

ts

& non‐

eco

frien...

I use

to ride

bicycle

and

use

public

transp

orta�on

for

shoppi

ng


Source : Table 2

Yes30%

No19%

Some�mes49%

Source : Table 5

8

Reason for Preferences of New Products

Table 3 : Distribution of preference of using Green Products?

Inference: Figure 3 depicts that 33% prefer green products to save environment, 8% prefers green product just because it sounds good ,2% prefers for status symbol , 57% prefers green products for better health .

Regarding Sources for Buying Green Products

Table 4 : Distribution of Sources or Points from Which You Would Like to Buy Green Products?


To save environment 33%

Sounds good 8%

Status Symbol 2%

For better health 57%


Online 25%

Departmental Store 9%

Mall 58%

Organic Store 7%

Special Agents 1%


Figure 3 : Proportion of Preference of UsingGreen Products

Reason for Preference of Green Products

Source : Table 3

To saveenvironment

33%

Status Symbol2%

Sounds good8%

For betterhealth57%

Figure 4 : Proportion of Sourcesfor Buying Green Products

Online

Departmental Store

Mail

Organic Store

Special Agents

1%

Source : Table 4

Inference : Figure 4 shows proportion of sources for buying green products, it depicts that 25% prefer online source to buy green products, 9% prefers departmental store, 7% prefers organic store, 58% people prefers mall &1% prefer special agents.

Figure 5 : Proportion of Searching on Internet About the Green Products

Regarding Searching on Internet About Green Products

Table 5 : Distribution of Searching on Internet About the Green Products

Yes 32

No 19

Sometimes 49


Search on Internet about Green Products

Inference : Figure 5 shows proportion of searching on internet about the Green Products. It depicts 32% search about green products on internet, 19% does not search about green products & 49% people search on internet.

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Part C: Regarding Perspectives of Customers Preferring Green Management

Table 6 : Distribution of Perspectives of Customers Preferring Green Management

S. No.

Statements

Strongly

Agree

Agree

Neutral

Disagree

Strongly

Disagree

Mean

24

I think government should give subsidies/tax benefits

to the companies who are

manufacturing & selling green products

115 55 25 36 19 3.844

25

I think there should be more

focus upon Green

Management advertisements

97

106

32

15

0

4.188

26

I wish to inspire my family

members & friends to be a Green Customer

73 87 55 23 12 3.744

27

I feel as a citizen that I have

a major role to preserve environment.

119

95

11

13

12

4.184

28

I think stronger environmental laws should

be enforced in India.

162 57 12 16 3 4.436

29

I think a retailer having

green image enjoy competitive advantage in a

price sensitive market.

133

64

26

15

12

4.164


Figure 6: Proportion of Perspectives of Customers Regarding Green Management

I think aretailerhaving

green imageenjoy

competitiveadvantage in aprice sensitive

market

I thinkstronger

environmentallaws should be

enforced inIndia.

I feel as acitizen that Ihave a major

role topreserve

environment.

I wish toinspire my

familymembers &

friends to be aGreen

Customer

I think thereshould be

more focusupon Green

Managementadvertisements

I thinkgovernmentshould give

subsidies/taxbenefits to the

companies who are

manufacturing& selling green

products

4.164

4.436

4.184

3.744

4.188

3.844

Perspectives of Customers Regarding Green Management

Mea

n

4.6

4.4

4.2

4

3.8

3.6

3.4

3.2

3.844 3.188 3.744 4.184 4.436 4.164Series 1

Source : Table 6

10

Inference : It has been noted during data analysis that the mean for people who thinkthat government should give tax/subsidies benefits to the companies who are manufacturing &selling green products is 3.844,the mean regarding c r e a t i n g f o c u s o n g r e e n m a n a g e m e n t advertisement is 4.188,the mean for inspiring members & friends to be a green customer is 3.744,the mean for feeling as a citizen who are to play a major role to preserve environment is 4.184, t h e m e a n f o r e n f o r c e m e n t o f s t r o n g e r environmental laws should be enforced in India is 4.436, the mean forretailer having green image enjoy competitive advantage in a price sensitive market is 4.164

Findings

A. The mean for the statement “I have seen the use of renewable sources like solar energy & wind energy etc. in this shopping mall” is 1.932.The mean for the statement “I have seen separate dustbins for biodegradable & non- biodegradable waste is 2.196” whereas the mean for the statement “I think the bill for shopping goods/ services should be sent as SMS to mobile despite of wasting papers” is 4.188. This depicts that most of the people thinks Green Management Practices in Retail Industry is well distributed.

B. 4.08 is the mean for “I am satisfied about the quality and performance of Green products”. The mean for the statement is “I am ready to pay extra money for eco-friendly products” is 3.572. This depicts that many people choose to be a green customer.

C. The research shows that 57% respondents prefers green product for better health,33% to save environment, 8% respondents just because it sounds good, and 2% for their symbol status. This resembles people are much conscious about their health rather maintaining status.

D. The research shows that 58% respondents prefer malls for buying green products, 25% prefers online stores, 9% prefer departmental store, 7% goes to organic store and 1% contacts special agents. This depicts green products are easily available in malls.

E. The research shows 49% people sometimes search internet about green products, 32% says yes for searching and 19% says no .This shows people are creating stronger belief and becoming vigilant regarding green product.

F. “I wish to inspire my family members & friends to be a Green Customer” this statement has the mean 3.744, whereas 4.436 is the mean for the statement “I think stronger environmental laws should be enforced in India. This research shows that people are adapting green management very rapidly.

Recommendations

For Customers :

1. Customers must be positive and proud of being “Green Customers.”

2. Customers must always prefer cloth bag/jute bag despite of polythene bag.

3. Customers must avoid packaged goods.

4. Customers must prefer online shopping in comparison to market shopping.

5. Customers should have the desire to purchase Eco- friendly products.

6. Customers can switch the brand because of environment friendly reasons without reservation.

7. Customers must have knowledge to distinguish between eco friendly products &non- eco friendly products.

8. Customers must ride bicycle and use public transportation for shopping.

9. Customers must develop the habit to see the ingredient composition & check whether the products are environment friendly or not.

10. Customers must separate biodegradable & non biodegradable waste.

11. Customers should feel as a responsible citizen and they have a major role to preserve our environment.


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For Companies :

1. The companies must adopt innovative practices, reducing waste and lowering waste.

2. The retail stores should focus on power saving techniques like LED bulbs.

3. The retail stores should properly manage unnecessary scrap and/or develop re-use process.

4. Proper training should be given to the employees for adopting green retailing.

5. The companies should focus on Three R: Reduce, Reuse & Recycle.

6. Day lightning should be encouraged than artificial lightning.

7. Turn off computers, lights and other power when not required in order to save energy.

8. A culture to save energy, water and resources must be developed.

9. Companies should say “no” to plastic and re-cycle plastic.

10. Long Billing System should be discouraged in order to save paper and ultimately trees.

11. E- recruitment& E- reporting must be encouraged in order to save paper & encourage green management.

12. Companies should adopt green management techniques for the construction of building and other infrastructure.

13. Focus must be on the use of renewable sources of energy.

Conclusion

It is time to critically consider and analyze what we desire to leave behind – a planet full of contamination, exhausted resources, inadequate water and smashed environmentalism, or a plant with adequate resources and good living conditions. We are dependent upon trade and commerce for our day to day living, growth and future too. Major checkmate can be initiated from the level of corporate houses and particularly retail houses who are very much attached with people at large for their day to day living. Initiation should be ignited from retail houses which mostly support in creating garbage for the society and for making

our environment polluted. As many as green marketing mechanism to be developed by leading retail sectors along with the bio-toilet facilitation to induce people to change their habit and to behave like a green customer. The responsibility lies in the hands of corporate, Customers and people at large for making a sustainable development of the economy at large.

References

Chellam V V (2016). Green Retailing- An Emerging Trends in Retail Marketing, Shanlax International Journal of Arts, Science & Humanities 4(1), 144-147.

M. Alex Syaekhoni, Ganjar Alfian and Young S. Kwon, (2017). Customer Purchasing Behavior Analysis as Alternatives for Supporting In-Store Green Marketing Decision-Making, Sustainability, Vol. 6, No. 1, PP 111-13.

Naidoo M, Gasparatos A, (2018), Corporate environmental sustainability in the retail sector: Drivers, strategies and performance measurement, Journal of Cleaner Production 203-188, 125-142.

Ninlawan C., Seksan P., Tossapol K., and Pilada W (2010). The Implementation of Green Supply Chain Management Practices in Electronics Industry, proceedings of the International Multi Conference of Engineering and computer scientist 3.

Ranjithkumar N. Sakthivel R. (2015). Green Retailing in Global Perspective, International R e s e a r c h J o u r n a l o f B u s i n e s s a n d Management , Vol. 8, No. 2, pp-64-73

Sikri S. & Wadhwa D, (2012) Growth And Challenges of Retail Industry In India: An Analysis, Asia Pacific Journal of Marketing 01.1, No. 1, PP 1-14 and Management Review, 1(1), 1-14.

Sinha R, Chauduri R, Dhumes (2014). Green Retailing: Environmental Strategies Of Organized Retailers And Competitive Advantage, Research Scholar, NITIE, Mumbai Vol.6 , No.1, PP. 111-13.

Yusof Md J., Musa R. & Rahman A.S., (2012) The Effects of Green Image of Retailers on Shopping Value and Store Loyalty, procedia- Social and Behavioral Sciences, 710 – 721.


12

Abstract

Microfinance, in basic terms, implies giving financial or budgetary help, as a credit, insurance, saving and deposits, transfer of funds, training and development of the business people and small business units, lacking access to banking and other financial services (Singh, 2014). In the advancement worldview, microfinance has developed as a need-based program for strengthening and mitigation of poverty to the so far dismissed social objective gatherings (rural women, poor, deprived class of the society and so forth). It has additionally gotten one of the best mediations for socio-economic (social, economical, personal, and political) strengthening of poor people (Rajendran, 2012). In this specific circumstance, the present examination centers around the effect of microfinance on the socio-economic and personal ability prosperity of individuals grieving “Below Poverty Line” in the Udaipur District in Rajasthan.

Keywords : Microfinance, Economic Empowerment, Below Poverty Line, Poverty, Well-being

IntroductionMicrofinance has observed gradual improvement of 62% every year in reference to the number of customers served and 88% yearly as far as for gross loans and advance portfolio, somewhere in the range of 2005 and 2010 (M-Cril, 2011) making India the biggest microfinance industry around the globe. Since the mid 1990s, budgetary consideration such as financial inclusion practices and programs, and microfinance have become progressively mainstream and they have reshaped the continuous discussion with respect to poverty alleviation while at the same time keeping trust alive for a definitive objective of destitution destruction. Different programs have been attempted worldwide to fight against the poverty, and the United Nations Millennium Declaration duly marked by all the 191 United Nation Member States, in September 2000 was a stage towards it (World Health Organization, 2016). The revelation was accepted and signed to fight against destitution, hunger, diseases, absence of education, ecological debasement, and victimization or gender discrimination especially against women. It comprised of following eight objectives:


Microfinance Empowering Well-

Being of BPL Families of

Udaipur District in Rajasthan

Prof. S.L. MenariaController of Examinations, PAHER University, Udaipur

Vivek KataraResearch Scholar, Faculty of Management, PAHER University, Udaipur

13

1. Eradication of outrageous poverty and appetite

2. Achieve all inclusive essential education and knowledge standards

3. Promote gender neutrality and equality or balance and women empowerment

4. Reduce Children mortality rate

5. Improve maternal wellbeing and health

6. Creating awareness and fighting against HIV/AIDS, and other different diseases

7. E n s u r e n a t u r a l e c o s y s t e m a n d environmental sustainability

8. Develop a worldwide association for advancement and progression of society and nation in whole

The microfinance and financial inclusion system in India has the accompanied through the following s i g n i fi c a n t p l a y e r s : “ C e n t r a l a n d S t a t e Governments, Microfinance Institutions (MFIs), Non-Governmental Organizations (NGOs), Self Help Groups (SHGs), Banks (Commercial, Rural, and Cooperatives) and Governing/Promoting Agencies like Reserve Bank of India (RBI), NABARD and so forth.” The significant methods of microfinance in India are: “Subsidized Bank Loans, Self-help bunch bank linkages, Microfinance Institutions-Joint Liability Groups, Direct Benefit Transfers and network based microfinance organizations like cooperatives and Post office based plans” (Chidambaranathan et al., 2013).

Small scale credit/ micro-credits, as the good number of studies recommended, has risen as a financial/budgetary technique or practice to offer the loan, and other financial sercices to urban, semi-urban and the rural poor. However, regardless of whether micro scale credit plans s t e e r e d t h r o u g h s e l f h e l p g r o u p s h a v e demonstrated to be an incredible achievement in Udaipur District of Rajasthan as well, as asserted somewhere else, is an issue worth testing. The assessment of the effect of SHGs on the member individuals' has accepted urgent significance in research aspects. As such, regardless of whether small scale credits administered through self help groups in Udaipur locale has helped the

beneficiaries in raising their standard of living as well as overall quality of life through the quest for gainful micro scale ventures, is an issue that benefits point by point study.

In this way, the essential thought for the exploration came after close perception of certainties that microfinance isn't just one of the powerful instruments for lessening poverty yet additionally can possibly make a constructive change in the genera l publ i c as fa r as strengthening of women of different social classes and the financial uplif tment of member individuals dwelling beneath the poverty line.

Review of Literature

As indicated by a definition characterized by NABARD, "microfinance is about the arrangement of thrift, credit and other money related financial services and results of extremely modest quantity to the poor in country, semi-urban and urban territories for empowering them to increase their expectation and standard of living."

Rajendran et al. (2010) in their research work studied the effect of microfinance on the strengthening in psychological, financial and social perspectives and administrative aptitudes of pioneers of SHGs and their frame of mind in Vellore presumed that microfinance can lead a few strengthening in poor class individuals of the general public, for example, psychological, social and monetary strengthening. The research work additionally referenced that the effect of micro scale fund is obviously bringing certainty, mental fortitude, skill advancement and strengthening yet there is no positive effect observed in feasible rural people empowerment particularly reduction in poverty, job openings, and making of other social and financial advantages in provincial territories.

Girabi et al. (2013) in their research work discovered that good percentage of women respondents of the study felt that they were increasingly associated with basic decision making in general family practise than previously. The social respect of women is also improved according to spouses and network after their support in family financial and credit plans. The research also inferred that respondents agreed that


14

their success is because of collaboration from spouses, advertising of the items, laborious work, proficient administration, training and skill development programs, and inhibitory variables were the deficiency of assets, absence of skills and abilities, and high running cost.

Jothi (2010) with the guide of essential information drew out the adjustments in the social and economical parts of the sampled respondents who are the member individuals in SHGs. The example respondents, who were either jobless or occupied with frivolous exercises during their pre-membership period, have become extremely dynamic by getting employed in shifted exercises and along these lines they started earning more. He has inferred that the self help groups contribute considerably in driving the states of the female populace up and through that chip in destitution eradication also.

As per Gobezie (2010), SHG is a socio-economic improvement exercise, which deals with the standards of self-regulation, shared assistance, and co-activity at locale and broad level. He also mentioned that SHGs member individuals make their capital through ordinary investment funds. The plan gives sparing and credit administrations which invigorate member individuals' self assistance limit bringing about social and economical strengthening as a resource for low-salary families, particularly women of rural areas.

As indicated by Singh et al. (2013) the socio-economic empowerment of rural women through SHGs would give advantage not exclusively to the women at singular level yet in addition to the family just as to the network all in all through aggregate activity for the improvement Several examination ponders likewise indicated some fiscal and non-financial benefits stimulating from the support into the Self Help Groups.

The unavoidable issue at global level is whether microfinance is a powerful practice for poverty alleviation and other socio-economic, political, skill related issues of deprived class of society. Different parts of microfinance effects have been examined in the ongoing past. A portion of the perspectives that have gotten huge consideration are: women empowerment and socio-economic strengthening, (Arora et al. (2011) and Selome et al.

(2014)), financial execution (Ngo et al. 2014), poverty reduction, and effort (Abate et al., 2014). In a study Adholiya et al. (2019) revealed that role of SHG in women empowerment is note restricted in their financial upliftment, it also improves their level of understanding for socio-economic issues and financial issue through the use of ICT.


Microfinance practices and programs have been in the discussion at global and national platforms for wrong reasons in the ongoing past. The quest for financial benefit as opposed to concentrate on financial improvement by few MFIs has been referred to as the reasons for the negative meaning encompassing microfinance particularly in India (Haldar et al., 2016). In the wake of secluding such key elements of effect, the examination estimates the recognized measurements inside the Udaipur locale of Rajasthan. So the target of the examination is:

RO: Exploring the important latent variables which are significant in measuring the effect of microfinance on empowering well-being of BPL families of Udaipur district in Rajasthan.

This research work utilizes the mix technique practices of research methodology. Mix research strategies incorporate both subjective (qualitative) and quantitative techniques for information assortment as well as investigation to accomplish a scope of results. A sum of 75 microfinance borrowers were picked as respondents based on BPL card and the utilization of either SHG/JLG credits in the four blocks of the Udaipur District.

Analysis and Result Interpretation

Reliability Test – Cronbach's alpha (α) reliability test statistics for the responses given by the respondents for the presented research work turned out to be .718 which was produced through the dataset produced by the feedback of 75 respondents. This recommends adequate dependability and reliability for sample populace. As the figure .718 is extremely near and higher figure of 0.7, it was viewed as solid.

Factor Analysis - Apart from the inside legitimacy test, the examination investigation additionally


15

comprised of an exploratory factor examination. This was done to affirm the various elements of microfinance sway. The variables incorporate in the Factor Analysis were related to family support, social status, training, saving and income turn ups etc. All the variables incorporate in the PCA is related to the respondents well being which is somehow related with the MFIs practices and methodologies. PCA test statistics is presented below:

From the KMO statistics 0.724 it was identified that sufficient sample adequacy is observed for the responses while the Bartlett's test value 0.000 confirms no significant inter-relationships between the participating variables. So, PCA can be performed over the dataset. From the total variance statistics it was identified that for three components a total variation of 61.483% was explained, where Eigen values of all the three components were greater to 1.


Table 1: KMO Test

Bartlett's Testof Sphericity

Approx.Chi-Square

Df

Sig.

.724

62.837

22

.000

Source: Statistical Output

KMO - Sampling Adequacy

Table 2: Component Matrix

Rotated Component Matrixa

Component

1

2

3

F_S

.512

.623

.223

S_S

.102

.589

.323

M_L

.089

.645

0.408

Tr_S

.118

.219

.834

Ed_Q

.142

.225

.765

I_S

.745

.236

.125

I_T

.717

.411

.328

a. Rotated converged in 5 iterations.


Table 3: Anova Test – For Social Class

and Religion

S. N. Variable

For SocialClass

Signifi-cance

1 Support fromfamily (F_S)

0.3

2 Social class or statusof individual (S_S)

0.042

3 Migration forlivelihoods (M_L)

0.3

4 Skill Developmentthrough training(Tr_S)

0.029

5 Educationqualification(Ed_Q)

0.

6 Savings fromincome (I_S)

0.

7 Income increment /appraisal (I_T)

0.013

ForReligion

79 0.009

0.039

57 0.189

0.126

423 0.022

101 0.003

0.232

Signifi-cance


The above ANOVA statistics to measure the difference in the respondents' opinion for the economic, social and capacity well being according to the social class (General, SC, ST, and OBC) it was identified that there is no difference in the mean score value for Support from family (F_S) (0.379), Migration for livelihoods (M_L) (0.357), Education qualification (Ed_Q) (0.423), and Savings from income (I_S) (0.101). But, for Social class or status of individual (S_S) (0.042), Skill Development through training (Tr_S) (0.029), and Income increment / appraisal (I_T) (0.013) significant difference was observed in the mean score values of respondents of different social class.

16

For the religion (Hindu, Muslims, Sikkhs, and Others) it was identified that there is no difference in the mean score value for Migration for livelihoods (M_L) (0.189), Skill Development through training (Tr_S) (0.126), and Income increment / appraisal (I_T) (0.232). But, for Support from family (F_S) (0.009), Social class or status of individual (S_S) (0.039), Education qualification (Ed_Q) (0.022), and Savings from income (I_S) (0.003) significant difference was observed in the mean score values of respondents of different religion.

ConclusionThe statistics of the research confirmed that BPL respondents of different social class (General, SC, ST, and OBC) confirmed that significant difference was observed in the responses of different social class respondents for the effect of MFIs on their Social class or status of individual Skill Development through training, and Income increment / appraisal. It was also found that BPL respondents of different religions (Hindu, Muslims, Sikkhs, and Others) confirmed that significant difference was observed in the responses of different religion respondents for the effect of MFIs on their Support from family, Social c lass or status of individual , Education qualification, and Savings from income. So, it could conclude that for most of the common variables representing the social, economical, and capability based wel l -be ing se lec ted BPL fami l ies respondents opinion is found positive and it lead into understand that MFIs activities such as SHGs improves BPL families overall standard of living.

ReferencesAbate G. T., Borzaga C. and Getnet K. (2014).

“ C o s t e f fi c i e n c y a n d o u t r e a c h o f microfinance institutions: Trade offs and the role of ownership”, Journal of International Development, Vol. 26, No. 6, Pp. 923-932.

Adholiya, Ashish & Adholiya, Shilpa & Kumar, Santosh. (2019). Effect of ICT on Scaling and Performance of SHGs of Udaipur (Rajasthan). 11. 119-126.

A r o r a S . a n d M e e n u ( 2 0 1 1 ) . “ W o m e n empowerment through microfinance

intervention in the commercial banks', International Journal of Economics and Research, Vol. 2, No. 2, Pp. 35-45.

Chidambaranathan M., Premchander S., and Raj M . ( 2 0 1 3 ) . “ C o m m u n i t y - b a s e d m i c r o fi n a n c e : T h e p o t e n t i a l a n d challenges of self-reliant, self-help group cooperatives,” Enterprise Development and Microfinance, Vol. 24, No. 2, pp. 118-134.

Girabi F. and Mwakaje A.E.G. (2013). “Impact of microfinance on smallholder farm productivity in Tanzania: The case of Iramba district', Asian Economic and Financial Review, Vol. 3, No. 2, 227.

Gobezie G. (2010). “Empowerment of women in r u r a l E t h i o p i a : A r e v i e w o f t w o microfinance models”, Praxis: The Fletcher Journal of Human Security, Vol. 25, Pp. 23-38.

Jothi V.N. (2010). “Socio-Economic Impact: Micro financing of Self Help Groups”, SCMS Journal of Indian Management.

Ngo T.V., Mullineux A.W., and Ly A.H. (2014). “The impact of scale of operation on financial performance in microfinance”, Eurasian Economic Review, Vol. 4, No. 2, Pp. 177-198.

Rajendran K. (2012). “Micro Finance through Self Help Groups – A Survey of Recent Literature In India,” International Journal of Marketing, Financial Services & Management Research, Vol. 1, No. 12, pp. 110-125.

Rajendran K. and Raya R.P. (2010). “Impact of Micro Finance - An empirical Study on the Attitude of SHG Leaders in Vellore District', Global Journal of Finance and Management, Vol. 2, No. 1, Pp. 59-68.

Selome J. and Tshuma N. (2014). “Microfinance and women empowerment in Zimbabwe: A case of women development fund in umguza district”, International Letters of Social and Humanistic Sciences, Vol. 35, Pp. 74-85.


17

Singh G.T. (2014). “Microfinance: A Tool for Poverty Alleviation,” Journal of Business and Management, pp. 21-30.

Singh S., Thakur G. and Gupta P.C. (2013). “A Case Study on Empowerment of Rural Women t h r o u g h M i c r o E n t r e p r e n e u r s h i p Development”, International Journal of

Business and Management, Vol. 9, No. 6, Pp.123-126.

World Health Organization. (2016). Millennium Development Goals (MDGs).” Retrieved from World Health Organization: http://www.who.int/topics/millennium_development_ goals/about/en/


18

Abstract

Ocean transport still plays a vital role in international trade of India as it presently covers almost 95 percent of the total volume of trade of world trade, even in the post liberalisation period, despite the growth of air transport. Indian ports comprise of both Major as well as Minor Ports. Both of which cater to the massive expansion in the volume of India's sea borne trade, even, in this era of globalisation, in response to the emerging trend in global sea–trade. This paper therefore attempts to make a comparative study between the growth of Overseas and Coastal Trade at ports in India during the period 1980-81 to 2009-10 (over the four consecutive decades), thus, specifying the role of Major and Minor ports, with a view to assess both statistically and mathematically the performance of these ports in the above trade performance.

Keywords : Overseas and Coastal Trade, Mathematical and Statistical methods, Trade Intensity, Indian Ports

A Study Between Overseas and Coastal Trade at Indian Major Vs

Minor Ports

Dr. Aparna BanerjeeSerampore College, Kolkata (India)

Dr. Sudakshina GuptaCentre for Urban Economic Studies, Department of Economics,

University of Calcutta, Kolkata (India)

Introduction

Ocean transport has played a vital role in the history of international trade of India since pre-historical times. In post independence period, according to the constitution of India, ocean transport sector is administered by both the Central Government and also the State governments, as it falls under the Concurrent List of the Constitution. Major ports are administered by the Central Government while the minor and intermediate ports are administered by the relevant State Governments of the nine coastal states, i.e. Andhra Pradesh, Odisha, West Bengal, Tamil Nadu, Kerala, Karnataka, Goa, Maharashtra and Gujarat. India has a coastline of 7600 kilometers, with a well-established port infrastructure, comprising of 13 Major Ports (12 government and 1 corporate) and 187 notified minor and intermediate ports, spreading across the above mentioned coastal states of the country. These ports mainly handle sizeable volumes of both overseas as well as coastal traffic, thus, acting as major gateways to country's international trade by sea. For instance, the Indian ports registered total cargo volume of traffic of 1,052 million metric tonnes (MMT) in 2015, and is expected to reach 1,758 MMT by volume in 2017 (Sau, (1997) ; Flor (2003)).


19

The role of these above mentioned Major and Minor Ports of India in country's external trade are significant, even in the context of globalization period, as it still consists of about 95 percent (lion's share) by volume (quantity) and about 70 percent by value of overseas trade through the seaports, in the post independence period, despite the tremendous growth of air transport system. Now, volume of both overseas and coastal seaborne trade consist of their respective volumes of imports (unloaded traffic) and exports (loaded traffic) of all commodities. Hence, the sum of volumes of overseas and coastal exports and imports equal the volume of total overseas and coastal trade respectively.

Literature Review

In the relatively neglected branch of studies of Indian port literature, it has been found that the history and developmental issues, cargo handling aspects, general role and functioning of Calcutta Port Trust and other few major ports in India such as Haldia, Mumbai ports always had been focused. In this connection, mention may be made of Banerjee (1975), Stutchey (1978), Panda (1991), Ray (1993), Chakraborty (1995) (ed.) and Sau (1997), De (1999), with the first major pioneer to write the history of Calcutta Port (CP) by Mukherjee (1968). Besides them, various discussion papers such as those of Ghosh and De (1998) and (2001) had emphasized on the different aspects of the CPT and Haldia Port responsible for the decline of the CPT and the need of Haldia Port. Hence, main focus had been, so far, given on specifically, few above mentioned major ports in the overall trade performance, with almost very little or no focus on the role of both major and minor ports, specifically, in the nature of trade performance of ports of India. So, against the above, theoretical backdrop, this paper attempts to make a Comprehensive study between the growth of Overseas and Coastal Trade at ports in India during the period 1980-81 to 2009-10 (over the four consecutive decades), thus, specifying the role of Major and Minor ports in the above trade performance.

Now, the period of study have been analysed in two groups -

a) Major Ports for the period 1980-81 to 2009-10

b) Minor ports for the period 1989-90 to 2009-10. A shorter period is considered as consistent data for the previous years (till 1988-89) were not available. Hence, only the period of 1989-90 to 2009-10 are studied for the comparative study between major and minor ports at all ports in India.

Objectives of Study

The main objective of this paper is therefore to make a comparative study between the growth of overseas and coastal trade, with a view to assess the role of Major and Minor Ports in the above trade performance of India, during the period 1980-81 to 2009-10, i.e over the consecutive four decades, in terms of

i) Trends in the absolute growth of the volumes of both overseas and coastal trade respectively

ii) Trends in the growth of total trade intensity in terms of the growth of Overseas Trade Intensity (OTI) and Coastal Trade Intensity (CTI) respectively

iii) Relative growth of the volumes of both overseas and coastal trade respectively

iv) Overall trend of growth of the volumes of the port traffic across the ports over the study periods

Data and Methodology

Secondary data on the volumes of total traffic, measured in million tonnes (MT) handled by the ports of India are collected from the various publications of Basic Ports Statistics of India, Annual reports of the Indian ports Association and from the official website of Ministry of Shipping, Government of India.

Graphical, statistical and mathematical tools are used as methodology for this study. Simple graphical and diagrammatical tools are used to study the trends in the growth of overseas and coastal trade as well as their trade intensities at those ports. Moreover, as statistical method,

2square of correlation coefficient, (denoted by R ), a measure of the goodness of the fit of the trend lines


20

is used to study the degree of the linear 2dependence between the variables. The value of R ,

in this paper, measures the relative amount or percentage of the variation in the dependent variable (i.e, trade performance) which can be explained by the change in the independent variable (i.e, time) (Gujrati & Sangeetha (2008)).

Further, as mathematical tools, Compounded Annual Growth Rate (CAGR) is also used to compare the growth of port traffic between Major and Minor Ports. Again, this paper also uses σ-convergence to study about the nature of regional disparity of ports with respect to the volumes of their different types of port traffic. Moreover, σ-Convergence is also tested to find out whether there is any trend of convergence or divergence between the role of major and minor ports in the growth of overseas, coastal traffic over time. Since, different types of port traffics are the major determining factors causing regional disparities across the ports (Major and Minor ports), σ-convergence is therefore, calculated with respect to both the parameters (Sala-i-Martin, X. (2006)).

Study of Overseas and Coastal Trade between Major and Minor Ports

Figure 1 (a), (b) and (c) compare the trends in the absolute growth of both the volumes of overseas and coastal unloaded traffic or imports, loaded traffic or exports and those of trade between Major and Minor ports respectively.

2It is found from the values of R of Figure 1(a) that there are greater variations in the growth of

2Overseas Imports (R = 0.91) at Major Ports as

compared to that in the growth of Overseas 2Imports (R = 0.845) at Minor Ports. But Minor

Ports show greater variations in the growth of 2Coastal Imports (R = 0.946) as compared to that in

2the growth of Coastal Imports (R = 0.89) at Major Ports. In case of exports, Figure 1(b) shows greater

2variations in the growth of both the Overseas (R = 20.86) and Coastal Exports (R = 0.95) at Major Ports;

whereas Minor ports reveal a greater variation in 2the volume of the overseas exports (R = 0.813)

than that of coastal exports (R2 = 0.731). Next, for total trade from Figure 1(c), Major Ports also show greater variations in the growth of both Overseas

2 2(R = 0.91) and Coastal trade (R = 0.97) as compared to those in the growth of both Overseas

2 2(R = 0.841) and Coastal trade (R = 0.882) at Minor Ports.

Figure 1 : Growth Trends of Overseas and Coastal (a) Imports (b) Exports and (c) Total Trade

Respectively Between Major and Minor Ports

Source : www.shipping.nic.in

It is found that in case of Imports, Major ports therefore show greater variations in overseas trade, while Minor ports show that in coastal trade respectively. In case of Exports, role of Major ports are higher in both overseas and coastal trades as compared to those of Minor ports which are

2evident from the values of R from Fig 1(b). Moreover Major ports show greater variations in coastal exports, while Minor ports show the same

(c) Total Trade

2R = 0.906

2R = 0.8412R = 0.966

2R = 0.882

500

400

300

200

100

0

MAJOR OVERSEAS Total

MINOR OVERSEAS Total

MAJOR COASTAL Total

MINOR COASTAL Total

To

tal

Tra

ffic

(mil

lio

nto

nes

)

1989

-90

1990

-91

1991

-92

1992

-93

1993

-94

1994

-95

1996

-96

1996

-97

1997

-98

1998

-99

1999

-00

2000

-01

2001

-02

2002

-03

2003

-04

2004

-05

2005

-06

2006

-07

2007

-08

2008

-09

2009

-10

Year

(b) Exports

R²=0.859

R²=0.95R²=0.813

R²=0.731

MAJOR OVERSEAS Loaded

MINOR OVERSEAS Loaded

MAJOR COASTAL Loaded

MINOR COASTAL Loaded

180

120

60

0Load

ed

Tra

ffic

(Exp

ort

s)(m

illio

n t

on

ne

s)

1989

-90

1990

-91

1991

-92

1992

-93

1993

-94

1994

-95

1996

-96

1996

-97

1997

-98

1998

-99

1999

-00

2000

-01

2001

-02

2002

-03

2003

-04

2004

-05

2005

-06

2006

-07

2007

-08

2008

-09

2009

-10

Year


Year

1989

-90

1990

-91

1991

-92

1992

-93

1993

-94

1994

-95

1996

-96

1996

-97

1997

-98

1998

-99

1999

-00

2000

-01

2001

-02

2002

-03

2003

-04

2004

-05

2005

-06

2006

-07

2007

-08

2008

-09

2009

-10

MAJOR OVERSEAS Unloaded

MINOR OVERSEAS Unloaded

MAJOR OVERSEAS Unloaded

MINOR COASTAL UnloadedMINOR COASTAL UnloadedMINOR COASTAL Unloaded

350

300

250

200

150

100

50

0

Un

load

ed T

raffi

c (I

mp

ort

s)(m

illi

on

to

nes

)

2R = 0.845

2R = 0.910

2R = 0.8902R = 0.946

(a) Smparts

21

in overseas exports respectively. Hence, because of the greater variations in both overseas imports and exports, Major ports therefore reveal greater variations in overseas trade as compared to Minor ports. Again, because of the slightly greater variations in coastal exports at Major ports than those in coastal imports at Minor ports, the former ports reveal greater variations in coastal trade as compared to Minor ports. This may be because of the higher volumes of both the overseas as well as coastal traffic handled by Major Ports as compared to Minor Ports in India, owing to their greater cargo handling capacity and better infrastructural facilities at those ports.

Growth Trends of Trade Intensities at Indian Ports

This section compares the growth trends of Total Trade Intensity between Major and Minor Ports. Total Trade Intensity comprises of Overseas Trade Intensity (OTI) and the Coastal Trade Intensity (CTI) at all ports. Overseas Trade Intensity (OTI) may be defined as the percentage share of the volume of overseas trade (OT) in the total volume of trade. Similarly, Coastal Trade Intensity (CTI) may be defined as the percentage share of the volume of coastal trade (CT) in the total volume of trade.

Figures 2 (a) and (b) reveal the trends in the growth of total trade intensity in terms of the growth of Overseas Trade Intensity (OTI) and Coastal Trade Intensity (CTI) between Major and Minor ports respectively.

Figure 2. Growth Trends of Total Overseas and Coastal Trade Intensities at (a) Major and (b)

Minor Ports


2It is found from the values of R s from Figures 2 (a) and (b) that both the OTI and CTI have shown

2much higher variations at Minor ports (R = 0.28) 2than those at Major Ports (R = 0.12), though,

almost with the same values in both of the trade intensities in each case. This may be because of greater utilization of Major Ports than Minor ports in India over the said period.

Compounded Annual Growth Rates (CAGR) of Port Traffic

This section analyses the relative growth of the volumes of both overseas and coastal trade respectively between Major and Minor ports in India over the time period 1989-90 to 2009-10 in terms of Compounded Annual Growth Rates (CAGR) in Figure 3.

A comparative performance regarding the relative growth of the volumes of both overseas and coastal trade respectively between Major and Minor ports in India, during the period (1989-1990 to 2009-10) i.e, over these two consecutive decades, reveals that CAGR growth rates of Overseas trade (OT) have increased from 6.08 to 8.9 in case of Major ports, as compared to slightly higher growth from 14.62% to only 14.78% in case of Minor ports. Moreover, CAGR growth rates of Coastal trade (CT) has slightly declined from 4.89 to 2.0 at Major Ports than the sharp decline from 24.82% to only 5.72% at Minor ports over the said period (Figure 3). Hence, a greater dominance of Overseas trade (OT) than Coastal Trade (CT) in total trade at both Major ports and Minor Ports is found which may be because of globalization in post liberalization period. Moreover, overutilization of Major ports than Minor Ports is found in both overseas and coastal

1989

-90

1990

-91

1991

-92

1992

-93

1993

-94

1994

-95

1996

-96

1996

-97

1997

-98

1998

-99

1999

-00

2000

-01

2001

-02

2002

-03

2003

-04

2004

-05

2005

-06

2006

-07

2007

-08

2008

-09

2009

-10

Total OT

Total CTR² = 0.276

R² = 0.276Figure 2(b)

100.0090.0080.0070.0060.0050.0040.0030.0020.0010.000.00G

row

th T

ren

ds

of

O T

I C

TI

1980

-81

1982

-83

1984

-85

1986

-87

1988

-89

1990

-91

1992

-93

1994

-95

1996

-97

1998

-99

2000

-01

2002

-03

2004

-05

2006

-07

2008

-09

Year

90.00

70.00

50.00

30.00

10.00

Gro

wth

Tre

nd

s o

f O

TI,

CT

I

R² = 0.119Total OT

Total CT

Figure 2(a)

R² = 0.119


22

trade which indicates greater size in their capacity utilization and better infrastructural development of the former ports than those at the latter ones.

Conclusion

First, it is found from the comparative study between the Major and Minor ports reveal that Major Ports of the country dominate the growth of both the overseas and coastal trades in total trade of the country, as is evident from the trends in the absolute growth of both the volumes of overseas and coastal unloaded traffic or imports, loaded traffic or exports and those of trade between Major and Minor ports respectively. Moreover, relative growth of overseas trade, particularly, dominates Major ports, as is also evident from the sharp rise in the values of Compounded Annual Growth Rates (CAGR) of overseas trade at Major ports over the period (1989-2010), compared to that in case of Minor ports. But there is a greater variation in the trade intensities at Minor ports than those at Major ports in the growth trends of both OTIs and CTIs, although, with the same variation in both of the trade intensities possibly implies its under-utilisation over the years.

Moreover, the converging trend of sigma values of overseas trade (OT) and Coastal trade (CT) between Major and Minor Ports over the years also vividly explains the growing importance of Minor Ports in total trade of the all Indian Ports in the recent period.

References

A. Ray, Maritime India: Ports and Shipping, Pearl Publishers, Calcutta, 1993.

B. Ghosh, and P. De, (2001) “Indian Ports and Globalisation – Grounding Economics in Geography,” Economic and Political Weekly, vol. 36, pp. 3271-3283.


σ- Convergence Analysis

This section applies the method of σ- Convergence technique to study the overall trend of growth of the volumes of the both the overseas and coastal port traffic across the Major and Minor ports over the study periods (1989-2010). The numerical values of σ convergence measured at period t are given below in Table 1.

It is found from Table 1, that sigma values of Overseas Trade (OT) as well as Coastal Trade (CT) are converging over time between Major and Minor ports. The σ-convergence here also measures the tendency of reduction in disparity across the above mentioned ports over these two consecutive decades.

Table 1. Values of Sigma Convergence

Year

σ (OT)

σ (CT)

1989-90

1.71746

2.21537

1990-91

1.678486

1.925344

1991-92

1.746115

1.745728

1992-93

1.675317

1.701349

1993-94

1.562519

1.585507

1994-95

1.555393

1.495654

1995-96

1.504385

1.497686

1996-97

1.530502

1.385795

1997-98 1.285546 1.43644

1998-99 1.414593 1.266571

1999-00 1.115677 0.86276

2000-01

0.812221

0.858602

2001-02

0.777075

0.785211

2002-03

0.756359

0.739529

2003-04

0.766529

0.714098

2004-05 0.732139 0.716655

2005-06 0.732232 0.73805

2006-07 0.684366 0.530986

2007-08 0.607957 0.876357

2008-09 0.597808 0.882179

2009-10 0.440516 0.60621

Source : Sala-i-Martin, X. (2006)

25

20

15

5

0

CA

GR

of

OT

an

d C

T

Figure 3

1989-1990 to1999-2000

2000-2001 to2009-2010

Trade at Ports

CT (Minor)OT (Minor)CT (Major)OT (Major)

24.82

14.62 14.78

2

10 5.72

4.89

8.9

6.08


Figure 3 : Relative Growth of total Overseas and Coastal trade between Major and Minor Ports

23

B. Ghosh, and P. De, “Role of Infrastructure in Regional Development: A Study over Plan Period,” Economic and Political Weekly, vol. 35 (18-19), pp. 3039-3048.

D. N. Gujrati, and Sangeetha (2008), Basic E c o n o m e t r i c s , T a t a M c . G r a w H i l l Publications, New Delhi.

L. Flor, and E. Defilippi (2003), “Port infrastructure: an access model for the essential facility,” Maritime Economics and Logistics, vol. 5(2), pp. 116-132.

M. Barke (1986), Transport and trade, Oliver & Boyd, Edinburgh.

Management Text Book, Bremen; Institute of Shipping Economics.

Ministry of Shipping (GOI), Road, Transport & Highways, National Maritime Development Report (Port Sector), Department of Shipping ( G O I) , N e w D e l h i , 2 0 0 6 . A v a i l a b l e : http://www.shipping.nic.in.

N. Mukherjee (1968), The Port of Calcutta – A Short History, The Commissioners for the Port of Calcutta, Calcutta.

P. Banerjee (1975), Calcutta and its Hinterlands, Progressive Publishers, Calcutta.

P. De (1999), “Performance of Indian Ports,” Indian Ports, vol. 35(2), pp. 5-12.

Panda, D. (1991), "Cargo Handling in the Major Ports of India", Calcutta: Minerva

S. Chakraborty (1995), Port of Calcutta, 125 years, Calcutta Port Trust, Calcutta.

S. Sau (1999), Port and Development – A Study of Calcutta Port in India, Firma Klm Private Limited, Calcutta.

Sala-i-Martin, X. (2006). "Regional Cohesion: Evidence and Theories of Regional Growth and Convergence", European Economic Review, Vol. 40, pp. 1325–1352.

Stuchtey, R. (1978) : "Port Performance Indicators", in H.L. Beth (ed.), Port

http://www.shipping.nic.in.

Indian Ports Association, Major Ports of India, IPA, New Delhi, Various Issues. Available: http://www.ipa.nic.in.


24

Abstract

As per the GST provisions, the refund can be claimed for the tax paid on inputs if the output is exported or tax paid on export goods if the goods are exported after payment of tax. These are the two options which are available to the exporter out of which one can be used to claim refund under GST regime. Two options can be simultaneously used for claiming refund by different units of the same company. The present case study has been done of Vardhman Textiles Ltd. It discusses the criteria for choosing the best out of available two options so that maximum refund can be claimed under GST Act.

Keywords : GST, Tax, Export, Refund, GST Act, Regime

Dr. Manpreet Kaur

Introduction

Export growth is important for any economy because of its effect on internal trade and economic stability. Moreover, the rate of economic growth and the distribution of income and wealth in a country are closely related to export growth. Hence, to encourage exports, exports are free from taxes. If taxes are paid on the exported goods, they are refunded to the exporter. Under newly introduced GST regime, special provisions have been made to facilitate exporters. All exports (whether of goods or services) as well as supplies to SEZs have been categorised as Zero Rated Supplies in the IGST Act, 2017. “Zero rated supply” under Section 16 of the IGST Act, 2017 means any of the following supplies of goods or services or both, namely:

(a) Export of goods or services or both

(b) Supply of goods or services or both to a Special Economic Zone developer or a Special Economic Zone unit.

On account of zero rating of supplies, the supplier will be entitled to claim input tax credit in respect of goods or services or both used for such supplies even though they might be non-taxable or even exempt supplies. Vardhman Textiles Ltd. is a big textile company having number of plants installed in various places like, Punjab, Madhya Pradesh and Baddi. For production of yarn & fabric these units have to buy raw material, packing materials, dyes, chemicals, spare parts, capital goods as well as has to avail various services. Major raw materials are cotton, acrylic, polyester, modal etc. Cotton is a product which has seasonal availability during October to March. As such,

Tax Planning for Refund in Case of

Exports Under GST Regime :

A Case Study of Vardhman Textiles Ltd.


Assistant ProfessorSri Arobindo College of Commerce and Management, Ludhiana (Punjab)

25

most of the cotton is purchased in MP, Baddi and Punjab units during this season. In Punjab unit, cotton is purchased but the comparatively quantum is very less. Whereas, its procurement volume is higher in MP & Baddi units. Exporters may have unutilised accumulated balance of input tax credit because of zero rate of tax on the output (exports) or due to lower rate of tax on output as compared to inputs (inverted duty structure). In case of Vardhman, substantial part of the output is exported out of the country. Moreover in most of the units, tax rate on inputs is higher than the tax rate on outputs. Resultantly, they have more unutilised accumulated ITC balance. They have following figures (hypothetical) for the three units:

The taxation officer of the company, keeping in view various provisions of GST Act; different GST rates applicable on various inputs as well as on final products and accumulation of unutilized ITC have to work out the refund option which results in higher refunds as compared to other refund options available under the GST Act.

As per the GST provisions, the refund can be claimed for the tax paid on inputs if the output is exported or tax paid on export goods if the goods are exported after payment of tax. These are the two options which are available to the exporter out

of which one can be used to claim refund under GST regime. Two options can be simultaneously used for claiming refund by different units of the same company.

Options Available for Refund in Case of Exports Under GST

Various incentives and facilities are provided by Govt. to exporters to boost exports from India. Refund of indirect taxes paid on exported products is one of them. Under GST regime, special provisions have been added along with lesser documentation formalities for faster execution of

refunds. The provisions regarding sanction of refund in case of exports are contained in Section 54 of the CGST Act, Rules 89 to 97A of the CGST Rules Refund in relation to exports can be claimed by exercising any of or both the following two options:-

1) Refund of IGST – in case of exports on payment of IGST (Rule 96)

2) Refund of Accumulated ITC - in case of exports without payment of tax under Bond/LUT (Rule 96A)


Month Punjab

unit

MP unit Baddi Unit

Tax rate on output

(Assumed)

12% 5% 12%

January (assumed

month of export)

Total turnover 10 crores 15 crores 10 crores

Export turnover 4 crores 12 crores 2 crores

Net ITC in the month of export 90 lakhs 3 crores 2 crores

March (assumed

month of claiming

manual refund)

ITC balance in the month of

March (opening + ITC)

50 lakhs 3 crores 1.20 crore

Expected output tax liability

for March

40 lakhs 60 lakhs 90 lakhs

Table 1 : Punjab, M.P., Baddi Units months based tax rate and turn over

Source : Author Compilation

5. Shipping bill itself is deemed application for refund. No separate application is required.

While filing GSTR-1 exporter can match shipping bill details available on ICEGATE portal login

26

Simultaneous availment of these two options during any period is permissible under the law. In other words, an exporter can exercise both the options during a particular month if he has resorted to exports on payment of IGST as well as without payment of duty under bond/LUT during the relevant period.

Afterwards, Output tax (2 Lakhs) will claimed as refund as per rule 96. In case of this option, provisional refund is not applicable.

In this option, following conditions should be satisfied :

1. GSTR-3 should be properly filed by the exporter (Currently it is GSTR-3B)

2. Details of zero rated supplies should be given in Table 6A of GSTR-1

3. Amount of zero rated supplies mentioned in GSTR-1 should be less than or equal to GSTR- 3B

4. Details of zero rated supplies mentioned in Table 6A of GSTR-1 should match with shipping bill details in ICEGATE portal.

1. Refund of IGST (Rule 96)

In this option, once output tax liability on exports is settled against the available input tax credit, and afterwards refund of output tax is claimed. Lets say a company has ITC balance of Rs. 3 lakhs in electronic ledger, He makes a zero rated supply (an export sale) on which IGST is Rs 2 lakhs. It will be settled as follows:

Output tax (IGST) 2 Lakhs

ITC 2 Lakhs

Net tax payable Nil

GSTR-1

Table 6A

Details of zero rated

supply

Matching with

Custom ICEGATE PORTAL

2. Refund of Accumulated ITC in Case of Exports Under Bond/ LUT (Rule 96 A)

If exporter has good amount of unutilised accumulated ITC due to purchase of input goods or seasonal purchase of input goods or procurement of services, he can exercise this option. Under this option, refund of accumulated ITC will be given in the ratio of export turnover to total turnover. Option of provisional refund is available under this rule.

Formula for Calculating Refund of ITC -

Rule 89 (4) of CGST rules prescribes the formula for calculation of refund of ITC in case of exports under bond/LUT. The updated version as on date is as under:

Refund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC ÷Adjusted Total Turnover where,

(A) "Refund amount" means the maximum refund that is admissible;

(B) "Net ITC" means input tax credit availed on inputs and input services during the relevant period other than the input tax credit availed for which refund is claimed under sub-rules (4A) or (4B) or both;

(C) "Turnover of zero-rated supply of goods" means the value of zero-rated supply of goods made during the relevant period without payment of tax under bond or letter of undertaking, other than the turnover of supplies in respect of which refund is

Figure 1 : Exports - Two Options


Separate

Application

for Refund

S/B is

Treated as

ApplicationSec 16. (3)(b)

Sec 16. (3)(a)

Option - 1

Option - 2

Export

Under Bond /LUT

FORM GST RFD-11

Refund ofITC

Rule 96 A

Refund of

IGST

Rule 96IGST

On Payment of

Table 2 : Net Tax Payable

Source : Author's compilation

Figure 2 : Filing GSTR

27

claimed under sub-rules (4A) or (4B) or both;

(D) "Turnover of zero-rated supply of services" means the value of zero-rated supply of services made without payment of tax under bond or letter of undertaking, calculated in the following manner, namely:- Zero-rated supply of services is the aggregate of the payments received during the relevant period for zero-rated supply of services and zero-rated supply of services where supply has been completed for which payment had been received in advance in any period prior to the relevant period reduced by advances received for zero-rated supply of services for which the supply of services has not been completed during the relevant period;

(E) "Adjusted Total turnover" means the turnover in a State or a Union territory, as defined under clause (112) of section 2, excluding –

(a) the value of exempt supplies other than zero-rated supplies and

(b) the turnover of supplies in respect of which refund is claimed under sub rules (4A) or (4B) or both, if any, during the relevant period;

(F) “Relevant period” means the period for which the claim has been filed.

Lets say a company has unutilised Net ITC balance of 6 crores for the relevant period (the month of export). Their turnover for the month is as follows:

The refund under rule 96 A will be given if at the date of claiming refund, sufficient ITC balance is lying in electronic credit ledger account. So where export turnover to total turnover ratio is high, it would be beneficial for exporter to claim refund under Rule 96 A.

Procedure of claiming refund under GST

1. Refund of IGST (Rule 96)

The procedure for claiming refund of IGST paid on exports is briey as under:

No application required

Shipping bill itself is the deemed application for refund

Refund is deemed to have been filed:

Only when EGM (Export General Manifest) or Export Report is filed, and

Valid Return 3B is filed

Figure 3 : Exporting under Bond/LUTRule 96A

No Payment ofIGST

SeparateApplication

for Refund Claim

No Refund ofIGST

Rule 96 A

TakeInput Tax Credit

Sec 16(2)

InputsInputsInputs ExportExportExportExpor�ngExpor�ng

underunderBond/LUTBond/LUT

Expor�ngunder

Bond/LUT

Claim RefundClaim Refundof ITCof ITC

Claim Refundof ITC


5 crores

4 crores

1 crore

80: 20

6 crores * 80%= 4.8 crores

4 crore * applicable rate

Lets say tax rate is 12 % Refund amount will be just 48 Lakhs

Total adjusted turnover

Export turnover (zero rated supply)

Domestic sales

Export turnover ratio

Refund under Rule 96A

If he claims refund under rule 96

Table 3 : Turnovers Calculation

Source : Author Computation

28

Table 6A of Form GSTR-1 to be filed

Officer to check/match/validate the shipping bill details in ICEGATE portal with Table 6A on the common portal.

Officer also to check the payment of IGST in Return 3B.

Officer to sanction refund if the above particulars match.

Refund to be credited electronically in the bank account of the exporter.

2. Refund of ITC (Rule 96A)

While processing the refund claim of unutilised ITC, the value of goods declared in GST invoice and the value in corresponding shipping bill/bill of export is examined and if both are different, then lower of the two values is sanctioned as a refund. The procedure for claiming refund of accumulated ITC in respect of exports without payment of duty under bond/LUT is briey as under:

Online application for refund has to be filed in RFD-01A on the common portal The following details are to be filed in RFD-01A :

1. The GSTIN/ Temporary ID allotted

2. Legal name

3. Trade name (if any)

4. Address of the principal place of business

5. Tax period for which the claim of refund is made (if applicable)

6. Amount of IGST, CGST and SGST, Interest or cess (if any)

7. Grounds for the claim of refund (as per the list given)

8. Details of Bank account in which the refund is to be credited

9. Verification : To be signed by the authorised person

Certain time limits and frequencies of filing Form GST RFD-01/01A have been prescribed as under:

Time limits : The Form RFD-01/01A has to be filed within a span of two years from the relevant date.

Frequency of filing : The Form RFD-01/01A has to be filed on a monthly basis by exporters.

After filing RFD-01 form make a Debit entry in the electronic credit ledger

Generation of proof of debit from electronic credit ledger

Print out of RFD-01A to be taken and ARN to be filled in

Manual submission of RFD-01A to the jurisdictional officer

All necessary documentary evidences to be enclosed

Application accepted only if complete

Acknowledgment (RFD-02) within 15 days of submission

Deficiency memo (RFD-03) within 15 days of filing

Only one deficiency memo allowed

Rect ified applicat ion treated as fresh application – to indicate the original ARN and debit entry no.

If no resubmission within 30 days of deficiency memo – amount to be recredited

Officer to validate the GSTIN details on common portal – to check whether 3B has been filed or not

Processing for grant of provisional refund (equivalent to 90%) to be completed in 7 days

Bifurcation of taxes i.e. CGST, SGST/UTGST,

TakeInput Tax Credit

Sec 16 (2)

No Refund ofInput Tax Credit

Sec 54 (3)

Shipping BillDeemed to beConsidered asan Application

UtilizeInput Tax Credit

Sec 49 (5)

Figure 4 : Exporting by paying IGSTRule 96


29

IGST, Cess to be shown (currently, refund can be claimed under any head if sufficient balance is there under that head)

Final processing order within 60 days

Final processing includes detailed scrutiny of:

Refund statement details with GSTR-1 (or Table 6A) on the common portal

Shipping bill and EGM details on ICEGATE

No pre-audit required

Manual refund order

Manual submission of refund order and bank account details in PFMS (Public Financial Management System) by DDO

Signed copy of sanction order to PAO

Credit of refund in bank account

Payment under different heads by respective authorities

Communicat ion within 7 days to the

counterpart tax authority (i.e. State/UT or Central as the case may be)

Rejected portion of refund (if any) to be recredited in the credit ledger (GST PMT – 03 & GST RFD – 01B)

Table 4 : Tax Planning for refund in case of exports under GST regime: A case study of Vardhman Textiles Ltd.

Teaching Notes

So, suggest the taxation officer of Vardhman Textiles Ltd. about the choice of the refund option to be exercised under GST regime.

Figure 5 : Teaching Notes

Month Punjab unit

MP unit Baddi Unit

Tax rate on output (Assumed) 12% 5% 12%

January (assumed

month of export)

Total turnover 10 crores 15 crores 10 crores

Export turnover 4 crores 12 crores 2 crores

Net ITC in the month of export 90 lakhs 3 crores 2 crores

Refund (Rule 96)

(export turnover*tax rate on

output)


Rule 96A (6)

of CGST Rules

Provisions of Rule 96A (1)

shall apply, muta�s mutandis

to SEZ / SEZ Dev.

Decoding

Rule 96A (1)

of CGST Rules

Without

of Tax

Export

Payment


ExporterExpor�ng Goods or Services

ExecuteBond / LUT

Pay Taxwith Interest

Sec 50(1)

Pay within 15 Days a�erExpiry of 1 year

from Date of Invoiceif not Received Payment

in Conver�ble Foreign Exchange

Pay within 15 Days a�erExpiry of 3 Months

from Date of Invoice

Goods Service

Fail to

Export

March (assumed

month of claiming

manual refund)

Refund (Rule 96A)

=Net ITC in the month of

export* Export turnover ratio

of month of export

ITC balance in the month of

March (opening + ITC)

Expected output tax liability

for March

Decision in March

90 lakhs*

40% 36 lakhs

3 crores*80%

2.4 crores

2 crores*20%

40 lakhs

50 lakhs 3 crores 1.20 crore


Don’t

claim

Claim refund

under 96A

Claim refund of

IGST under

Rule 96 in

January

30

The taxation officer of the company should consider following mentioned factors while choosing the option of refund:

1. Availability of Unutilised Accumulated ITC Balance

2. Export turnover Ratio

Once option of refund has been finalised, next factors to be considered are:

1. ITC (Opening +ITC) to Output Tax Liability Ratio

2. Closing Balance In Electronic Credit Ledger: While Taking Refund Under Rule 96 A When The Unit Has to Make A Debit Entry In Electronic Credit Ledger, Refund Would Be Lesser of The Two Amounts : Closing Balance in ECL or Refund Amount.

In case of MP unit, sufficient net ITC balance (3 crores) is available with the unit and their export turnover ratio (80%) is high for the month of January. Refund of IGST (under Rule 96) for March will be 60 lakhs. So, they should claim refund of unutilised ITC balance under rule 96A (manual refund). Such balance is generally available when company deals in raw materials which are purchased seasonally or when rate of tax on inputs is more than rate of tax on output. In the month of March, they will have to check whether sufficient ITC balance is there to meet the output tax liability of March month. If yes, they can claim refund by filing online application in RFD-01 form and make a debit entry in electronic credit ledger. In case of Baddi unit, Export turnover ratio is 20%. So refund amount will be 40 lakhs under Rule 96A where as refund under Rule 96 will be 24 lakhs. They should

claim refund under 96 A. however, in the month of March, refund amount is Rs 40 lakhs. ITC (opening + ITC) to output tax Liability Ratio should also be considered. Although sufficient ITC balance is there to claim refund but the output tax liability of March month is 90 lakhs. If ITC balance is there but the output tax liability in the near future is almost equivalent to the available ITC balance, one should not claim refund as they will have to pay output tax liability in cash. If unit can predict sales in future months, they should claim the refund of IGST under Rule 96.

In case of Punjab unit, export turnover ratio is 40% and net ITC is 90 lakhs only. As in case of Punjab unit, the tax rate on input and output is same and lesser seasonal product is purchased. Moreover the quantum of zero rated supplies is less. Hence, they have lesser amount of accumulated net ITC. If they claim refund under Rule 96, the amount would be Rs 48 lakhs and under Rule 96 A it will be Rs 36 lakhs. Hence they should claim refund under rule 96. Here, shipping bill will be deemed application for refund resulting in lesser procedural formalities. But even under Rule 96, they have to check the output tax liability for the month of January. If sufficient margin is available, only then they should claim refund of IGST. For example, they have estimated output tax liability of Rs 80 lakhs and and ITC balance of Rs 1 crore for the month of January. They should not claim refund of IGST. Then export should be made under LUT. And if they have estimated output tax liability of Rs 20 lakhs and and ITC balance of Rs 1 crore for the month of January. They should claim IGST refund.


31

The New World's BARTER – TETOOTA KYA TOOTA.....

Introduction

When the world was busy struggling making money, Mr.Ashwjeet Garg was busy in developing an idea in 2018 which focused on community service. A mobile application was developed, a skill sharing process called TETOOTA a platform for everyone and anyone,where barter of skill for skills, skills for service,and skills for reward (tetoota) points. Which broke all the stereotypes that only moneygenerated learning. Indians had a pre conceived notion that anything free is not up to the mark. The psyche of the individual needs had to be altered that free is of premium quality. The old barter regenerated and a new social economy was created through sharing.This application was developed by a software companyHitachi and in return Tetoota provided logistic services . For Tetoota all a user required was a smart phone and a wifi connection.

In Asia Tetoota was the first mobile based application. The basic idea of this application was to breakdown the paradigm of vanity and open for learning. It helped in removing hindrances for ego and built in thinking “no job is big or small”.Being a non-revenue generating organization in the initial year the urge was to do community service that helped Tetoota in picking the most efficient manpower. They had two android developers, one IOS developer,and five interns. The application in the initial stages was drafted in Kotlin programming language.

How It Worked

To access this application the consumer downloaded the application from play store and appstore.

Create profile - filled the requisite form which included the basic details(name, address and Aadhar card number) and most importantly the interest area and skill.

Enter your talent or skill and put a price for that service in tetoota points (tps). You can offer multiple skills or handmade products on this platform. You will have two options to trade—through points or as an exchange with another skill or product.


Dr. Khushboo MakwanaAssistant Professor, PIMR, Indore (M.P.)

Prof. Shaan MalhotraAsistant Professor, PIMR, Indore (M.P.)

CA Priyanka JainAsistant Professor, PIMR, Indore (M.P.)

32

Once you have sent or received a proposal for exchange, and both the parties have provided services to each other, the user is required to rate the other person's service, and complete deal. Similarly, the other person will also complete deal their end, and that is when the exchange really happens.

Browse through thousands of unique listing of services and hand or home made products. You can even search with keywords or use filter to select a particular category or subcategory.

On downloading the application the users gained eightytetoota points(reward points which they can redeemagainst merchandise goodies and vouchers).

User can take advantage of this service through video chat, online chat. Two back end programmers were always available on the application in order to provide any assistance to the users.

According to Chief Escalation Officer Mr. Rajat and Chief Competitive officer Ms. Kiran, Tetoota took advantage of monopoly. Simbi, Skill trade and Swapaskill were some major web based players across the world working on the same platform. It was the only company in Asia Pacific working on such an idea with a social motive. Urban clap in India was a competitor of Tetoota. The only thin line of gap was that Tetoota has from its initiation kept all the services free of cost for the consumers which helped it in gaining the competitive edge over Urban Clap.

Coding of kotlin language was a major challenge for the organization as the coding was done in the latest language. Finding coders for the same was an issue. The survival for Tetoota with zero funding was difficult as they were not charging money in their initial stage. The other external factor to w h i c h t h e c o m p a n y w a s e x p o s e d w e r e acceptability and reachability as still the Asian countries were not acquainted with the system of open sharing and exchanging of skills on a common platform.

Promotional Strategies Adopted

The major focus was to increase the number of users

for survival in this highly competitive and dynamic environment . The users were around twenty two hundred to twenty three hundred. In order to gain the maximum market share the major research area was the youth as they were considered as enthusiastic learners. Various artists and bloggers were called up to boost the application further. They introduced artificial intelligence as well in order to keep the users secured.

The promotional areas for tetoota were cafes, universities and the promotional tools for the same are events at various cafes and universities to capture the young crowd. Novartis was approached for corporate tie-upwith Tetoota. Where Tetoota was chosen as one of the best start up ideas amongstsix hundredothers.

Road Ahead

Tetoota wants to increase its user base. For acquiring the same, they need funding from the government. As similar campaigns were launched by the prime minister Mr. Narendra Modi which aims to train over forty crore people in India in various different skills by 2022. Such an initiative focused on “National Skill Development Mission”, “Pradhan Mantri Kaushal VikasYojna” etc.

They also planned to generate revenue via mobile application i.e. with every click on theirsite, they will earn. Apart from this, earning through mobile advertisements was also in there to do list.Tie-ups with different corporates for generation of skills enhancement with a common login, which could be shared with the people working under the same roof for breaking the monotony and stress by satisfying their quest for learning and living their passion.

Questions

1. Discuss the various strategies that can be adopted for creating awareness amongst the young generation.

2. If you would have been in Mr.Garg's place, what would have been your expansion strategies for such a start-up?

3. Highlight the various schemes that can be adopted to acquire funding from the


33

government.

4. Prepare a SWOT for the case.

Teaching Notes

The case attempts to provide an insight about stratergies acquired by the startups for skills exchange and knowledge enhancement of the users on a common platform with zero investment. Secondly the case highlights the issues related to thefunding , innovations , creation of awareness.

Issues involved in the case

1. High cost of technology upgradation

2. Scarcity of funds

3. Accessibilty and Awareness

Teaching Strategies

1. The students need to come prepared with the Marketing and Promotional stratergies used in industry.

2. The students must be aware of various sources of finance and government fundings.

3. The students can evaluate the case in light of Digitalization.

The case should be administered to the students who are required to analyze the case on an individual basis. In the second stage groups of three to four students need to be formed and the case should be analyzed and discussed at the group level. In the third stage the case should be presented by each group and be open for inter group discussion.

Suggested Readings

1. Advertising and Promotion by Belch and Belch

2. Principles and Practices of Advertising by Wells Bernet

3. Fundamentals of Advertising by Chunawala


34

Abstract

The education has been the backbone of the prosperous society and will always remain one. India is host of one of the oldest civilization and education has always been given the utmost importance for kids. Starting from the culture of gurukuls to the modern distant education, the medium has evolved drastically.

One of significant changes in the education medium that we have observed in the recent past is the introduction of digital education. The way the internet connectivity has been expanding in India provides the base for the rapid growth of the digital education. If we check the libraries we could see the changes in the trend where students used to come and read the books and now almost everything is available online and we can see students searching the information on the internet. This paper attempts to identify the benefits of the digital education and the challenges that we face in the success of digital education.

Key words: Digital education, E- learning, India

Introduction

Digital learning is the learning I which people use more of information technology in imparting skills and knowledge to the students. It has been establishing at a rapid speed despite the fact that it has been introduced recently the can be seen followers tremendously. The technology is widely known as a smart technology which is being introduced in every sphere of life and as per the survey it has brought changes in the life of educationists'. It is now being used in the schools and colleges in imparting lectures and skills everywhere in the world today. People have forgotten conventional method after having adopted this new and advanced technology. Then main benefit of this technology is that it facilitates from anywhere anytime. The faculty members need not to take pains of writing the texts on the board with the help of chalk.

These digital processes provide a platform to the teachers, students a set of interactive services to improve the system and perfect delivery of a lecture and to manage things appropriately. People reduce time and efforts in minimizing the workload and can improve the quality of learning and teaching.

Surbhi JainAssistant Professor

Pacific Business School, Udaipur (Rajasthan)

Digital Education: Future Prospects in India


35

Objective

The objective of the research paper is to study

Benefit of Digital Education

Scope of Digital Education in India

Challenges of Digital Education

Literature Review

JinalJani and Garish Tere (2015). Digital India programme introduced by government of India is important for the development of digital education in the country. Digital India drive is a project initiated by Government of India for creation of digital empowered society across the country. It will help in mobilizing the capability of information technology across government departments and helps in delivering the different governments programs and services. Digital India will help in creating job, providing high speed internet and digital locker system and so forth. Digital India has three important components namely digital infrastructures creation, digital delivering services and resources and digital education.

Shikha Dua et al., (2015). They have discussed the different issues, trends and challenges of digital education in India and suggested the empowering Innovative classroom model fo rlearning. The future trend of digital education includes digitalized classroom, video based learning, and game based learning and so forth. They have pointed out different challenges of digital education India and suggested measures to overcome these challenges. Constant reforms required in schools and teacher for the development of digital education in India.

Himakshi Goswami (2016) . The study highlighted the different opportunities and challenges of digital India programme in India. Digital India programme introduced by government of India will help in transforming country into a digitally empowered economy. This will help government of India to integrate the Government Departments with the people of India. The main purpose of this programme is to reduce the paper work and help in providing

different Government services electronically to citizens. It describes the different opportunities of the programme for the people of the country. India is having different languages, culture, and customs, food habits, laws and traditions. The purpose of digital India programme is to integrate whole country digitally but languages would be the main challenges in the implementation of such programme.

Jayesh M. Patel (2017). There are many web based tools which can be used in the classroom for digital education like twitter, Glogster, Prezi, Diigo, Dropbox, and Moodle. Teachers and students are interested in web based digital learning but because of lack of knowledge they are not initiating the same. Web based tools will make the learning interesting and students will get motivated which normal classroom cannot do. Currently the teacher centric approaches are making learning boring even for interesting chapters, use of digital technology makes even boring content interesting and joyful. The concept of child centered approach will be fulfilled only with the help of digital technology.


The main objective of the qualititative research is to give a clear picture of the situation to understand the behavior and relation of the variables used. The study is primarily based upon the secondary data. The data used in this paper are secondary in natures which were taken from books magazine articles, academic journals, as well as the websites.

Benefit of Digital Education

Digital Learning has made Research Work Simpler

The research work has become easier with the help of digital world. The work has become, simpler as the researchers now find all solutions and ideas on internet websites easily. With the help and material available on net, the researchers may find appropriate solutions of the problems or the research they pursue. And they may prepare their dissertation or thesis easily with the latest data being taken from the net.


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Digital Learning a Boon for the Parents as Well

The digital era and its benefits proved blessings not only for the teachers but also for the parents, as they can guide their wards at home in their studies and assignments. The students may have tutorials on net at home anytime in a better way and can save time. With the help of e learning children may grasp the learning in no time and may find better solution too.

Preparation for Exams becomes Easier

More help can be seen of e learning tool during the examination days. Students are surfing net and prepare their notes , in addition to this, one who prepares for the competitive exams have all readymade solutions and frequently asked questions by preparing those, one may achieve success. The digital world have proved the best and trusted friend for the students. We have what we want on the internet and we can consult the required easily with no time, which help us saving time. Children may have online tutors and video conferencing to have the best teachers at home from them, they may have counseling and better solutions of any problems.

Reduce the Burden of Paper Work

The introduction of the internet in our life eliminated burden from our shoulder and reduce paper work also. Today in the advanced world , most of the exams are conducted online , so it reduce the burden of the teachers as they need not to carry the answer sheets and on the contrary, the students need not to wait for the results for long days . The work i s conducted wi th fu l l transparency and then evaluation is also becoming easy as now it is being done by the computers online.

Offers a S t rong Pla t form for Bet ter Communication

The digital and internet system provides a platform to convey and communicate in a better way. People even getting tutorials through web cam and using various applications and apps to keep connected with the people in then society. The corporate today conducts interview process on skype and save their time in commuting from one

place to others. Through this system even the communication method/process can be made more exible and easier and make the social media platform , blogs and various forum on which the experts share their knowledge and skills and helping the needy people.

Reduced Costs

The digital system is pocket friendly in comparison to other mode of communication online system. It reduces price and make the process more quickly and easily. The training time is reduced in terms of traveling, course material and accommodation and other facilities in which the money used to be incurred.

This cost cutting help enhancing the profit of the organization and moreover, people feel relaxed as they need not to plan their travel and leave the family members alone while going for any training to other cities.

Scope of Digital Education in India

The popularity of digitalization has been increased in the recent years everywhere in all sectors and spreaded its wings in all corners. With the introduction of the data centers, cloud commuting, visualization, more chances are there to integrate the advanced technology in the educational as well as the other sectors to reduce the human efforts in completion of the assignments. Evolution of technology make people in win situation, as they are now able to reduce the cost in imparting training which was very high in the olden times, it also helps students in preparing their assignments, projects and other forms of works in the universalities and institutions. The students are having an option as they can learn their lessons as and when they are free and the faculty members can also make use of the technology and make their teaching more effective. It make the class room smarter than ever before and the kids taking interest and also retain what is discussed in the class for longer duration. Hence there are many scope of digital education

Helpful For Organizations

Helpful for professionals

Helpful for society


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Easy transaction

Helpful in banking system

It will make people more technology friendly.

It will develop their scientific and technological attitude towards digitalization. It helps in improving professional development and management.

Technological advancement

Digital education will be very much helpful in making the each and every person technology friendly that they can make it more excess able.

Challenges for Digital Education in India

Today the advanced technology brought changes in the process of learning and teaching, as a result the students are becoming self sufficient and are able to create new presentation while providing new animation to make the people understand and inuencing. They experience high quality outcomes in their project works and assignments. It is clear that there is no single factor, but rather a system that inuences quality learning outcomes.

Less Social Acceptability in rural area

Technology phobic

Not willing to experiment in the traditional setup-

Irrational concepts for the technology

Lack of facilities in the rural area

No proper training of using technology

Time consuming

Negative aspects of digital components- There are also some concepts with digital technology that it is the reason for experiencing different behavior and degrading our health today, physical health concerns; and data privacy issues.

Frequent changes- Due to changes and a d v a n c e m e n t i n t h e d e v i c e models/technologies/functionality etc.

teachers endure uncomfortable.

Expensive-It is very expensive. That is why we see thatmost International schools and schools that have digital education are far more expensive than the regular schools.

It's quite problematic at times for individual to expresstheir correct motive or demonstrate the set of skills they have got in a digital medium rather than orally.

The overarching challenge is to maintain privacy

Many of us have this irrational fear of towardstechnology and are not able to accept digital education. But if a teacher mitigates these challenges he/she can make his classroom teaching interesting.

Conclusion

stThe 21 century faces challenges because of the introduction of the advanced technology and hence, it becomes necessary in general to update all individuals to compete the situation and build the new theory and nation strong. This is the reason that many countries are spending a hefty amount on the new technology just to put efforts to upgrade the education system in order to meet the demand in the era of digital ization and globalization. This emerging technology is supporting the social media in a way that people around the world are connected to each other and enjoying the new dimension of technology with full zeal and experience. Digital educations also assure opportunities to the people living in rural belts and gaining knowledge, skills. So can say that if the technology if used wisely there are benefits of it and people can enjoy for long time and achieve success.

References

Aggarwal J.C. (1996). Essentials of Educational Technology, Vikas Publishing House, New Delhi.

Chetna B. and SonalC.(2010). System and Issues in Indian Education, Balaji Publications.

Singh G. (2014). Emerging Trends and Innovations


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in Teacher Education Indian Journal of Applied Research, ISSN. Vol. 4, No. 5.

Matzen NJ. Edmunds JA (n.d.). Technology as a catalyst for change: The role of Professional development . Journal of Research in Technology in Education.

Jani J. and Tere G. (2015). Digital India: A need of Hours. International Journal of Advance Research in Computer Science and Software Engineering. pp.8.

Dual S., Wadhawan S., Gupta S. (2016). Issues, Trends & Challenges of Digital Education : An Empowering Innovative Classroom Model for Learning. International Journal of Science Technology and Management. Vol. No. 5, Issue No. 05, ISSN 2394-1537

Goswami H. (2016). Opportunities and Challenges of Digital India Programme. International Education & Research Journal (IERJ). E- ISSN No. 2454-9916 Volume: 2 Issue: 11 Nov 2016.

Patel J.M. (2017). Web Based Tools of Technology in Future Teaching Learning Strategies. International Education & Research Journal, Vol. 3, No. 2.

https://www.Frost.com/frost- perspective/ digital- education-India/

http://www. Digitaledusysyem.com/view-content/6/benefits.html


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Abstract

Globalisation is a process of connectedness of a country with rest of the world in exchange of goods and services. It consists of three dimensions i.e. economic, social and political globalisation. These segments of globalisation are inuenced by various environmental factors like, human development, terrorism activity, corruption rate, education etc of the country. Objective of this study is to analysis the impact of human development index, corruption perception index and global terrorism index on globalisation and its three dimensions i.e. economic, social and political globalisation of India. Also identify more inuential element/s for sustainability of globalisation and its dimensions. Multiple regression analysis is implemented separately for achievement of this objective on forty eight years data (1970-2017) of India. Various tests for time series analysis are also applied here. Few results of this analysis satisfy the hypotheses but out of this some are significant other not.

Key Words : Globalisation, Sustainability, Economic, Social, Political

Introduction

Globalisation is an integrated phenomenon of economy, society and politics which helps to reshape the world at a large (Robinson, 2005). It is a complex and interdependent area of global circle (McGrew, 2008). Effective use of all resources is possible through globalisation (Fischer, 2003). It helps Individual to enjoy the facilities of resource mobilisation (Edwards,1998). Continuity of this resource mobilisation facility is possible through sustainability of globalisation (Reader, 2006). Globalisation of any country consists of three pillars i.e. economic, social and political globalisation (Kearney,2007). Economic globalisation may be defined as enhancement of economic interdependency among world economy as a result increases cross broader movement of goods, services and capital as well as rapid expansion of technology (Shangquan, 2000). Whereas, Social globalisation is the interaction among communities of various nations (Weidenbaum, 2003) and Spreading of government ideas, thoughts among nations is called political globalisation (Dreher, 2006). But, globalisation is not only a multidimensional approach but also a composite form of various indicators (JRC/OECD, 2008, p. 13). It also depends on various environmental elements (Birnleitner, 2013).

Sustainability of Globalisation and Its Dimensions with Environmental Elements : Evidence From India

Somnath DasAssistant Professor

Department of Commerce, Belda College,Paschim Medinipur, West Bengal


40

Degree of globalisation and its three dimensions are measured through their respective indexes of KOF (Swiss Economic Institute). It is expected that t h e s e i n d e x e s a l s o d e p e n d o n v a r i o u s environmental elements. So sustainability of globalisation and its dimensions are affected by environmental elements.

The remaining of this paper is designed as follows: Review of literature and research gap have been depicted in section-II. Section –III represents objective of the study. Section-IV deals with collection of data and study period. Section-V helps to define the formulation of hypotheses. Research Methodology has been depicted in section-VI. Section-VII highlights the analyses of the results. This section is divided by four parts. Part-I deals with descriptive statistics, unit root test and effect of environmental elements on g lobal i sa t ion , Par t - I I presents e f fec t o f environmental elements on economic globalisation Part - I I I helps to e laborate the ef fect of environmental elements on social globalisation, Part-IV represents the effect of environmental elements on political globalisation and the last s e c t i o n d e a l s w i t h c o n c l u s i o n a n d recommendation.

Section-II : Literature Review

Globalisation is the degree of connectivity of any country with rest of the world. It is measured through globalisation index. This index is consists of three dimensions i.e. social, economic and politics. Globalisation acts as a driver of economy (Obwana, 2001).

The term Internationalization and globalization are used for many economic aspects (Adler, N. J., 2008). It affects the growth of any country (Dreher, 2006). Globalisation of a country depends on various elements of environment. Pfaff (2004) investigates that it is affected by PEST i.e. political environment, economic environment, social environment and technological environment. David (1997) investigates effect of globalisation on cultural element of a country. Hofstede (2001) conducts a study regarding culture and its impact on globalisation. He observes that five cultural dimensions i.e. power distance (PDI), uncertainty avo idance (UAI) , ind iv idua l i sm versus collectivism (IND), masculinity versus femininity

(MAS) and long-term versus short-term oriented persons (LTO) affect globalisation procedure. In a study McCarthy (1975) defines five various segments of macro environmental elements i.e. objective, resources of the firm, present business circumstances, social & cultural environment, political & legal environment and economic environment that inuence the entry of new foreign business in a country. Another study by Kieser and Kubicek (1976) evaluate that competitive situation, customer structure, dynamic of technology, task specific environment, and social condition, cultural conditions etc inuence on globalisation of a country. Ansoff (1997) investigate that adjustment of internal environment with external environment is essential for multinational companies. Mintzberg (2009) and Skinner (1964) examine that materials, relative costs of labour, overhead, equipment, capital, availability of credit taxes, cyclical activity, stability-ination growth, forecast ability, foreign exchange, competition, distribution system, tariffs, mass media for communication, availability of talents and skills, purchasing power of individual etc have impact on globalisation. Karlsson et al. (2012) examine the relationship between education and skilled employee which is attractive for globalisation. Trompenaars (1994) examines that various cultural factors affect the globalisation. According to his views culture is the combination of human relat ionships, the feel ing and interpreting of time and the attitude to the environment. Similarly, cross-border culture, perception of foreign life style may inuence the adoption capability of globalisation (Monda et al., 2007 ; Popkin , 1999 ; Rivera e t a l . , 2002 ; Swenburn,2011). Globalisation inuences the balance of power that helps to change the market economy, social and environmental conditions and collective action of internal agencies (Zarsky 1997).

Sect ion-III : Research Gap and Objective of the Study

Globalisation is affected by various environmental factors such as political, economic, technological and social environment. Cultural dimensions, employee's skill, relative cost of labour, foreign exchange rate, perception of foreign lifestyle also affects the globalisation ow of this country. It is observed from the above study that globalisation


41

changes the balance of socio-economic power of a country. Education and skilled workers also play vital role for enhancing the degree of globalisation. So it can be said that sustainability of globalisation and the sustainability of its dimensions (i.e. economic, social and political) are inuenced or affected by various environmental elements. These may be macro or micro environmental elements. It is expected that except these elements other macro environmental factors like human development index, global terrorism index and corruption perception index have effect on globalisation and its dimensions. But existing literature unable to presents the effect of these environmental elements on globalisation and its dimensions. This is the research gap of the present study which motivates me to carry out this research work.

Objective of the Study

Objective of the present study is to investigate the effect of above mention three environmental elements on globalisation and its dimensions (i.e. economic, social and political). Secondary objective is to identify the more inuential environmental element/s for maintaining the sustainability of globalisation and sustainability of its dimensions of India.

Section-IV : Data and Study Period

Forty eight years (1970 to 2017) annual data relating to globalisation index, economic globalisation index, social globalisation, political globalisation index, HDI, GTI, GCI, have been used for this study. This are collected from their respective websites and from the official website of World Bank.

Section-V : Formulation of Hypotheses

The following hypotheses are formulated based on three environmental elements:

i) Human Development Index

The Human Development Index (HDI) is a summary composite index which measures a country's average achievements in basic three aspects of human development i.e. knowledge, health and income (Reyles, 2011). It is a more compact welfare outcome of a country (Lehnert,

Benmamoun, & Zhao, 2013; Sharma & Gani, 2004). HDI has been developing through various ways. Foreign direct investment i.e. globalization is affected by it (Agosin and Machado, 2005; Al-Sadig, 2013). Reiter & Steensma, (2010) suggest that HDI has positive effects globalization but its impact is small. Hence, this argument helps to draw the following hypotheses:

H (Hypothesis 1) : There is a positive relationship 1

between Globalisation index and Human Development Index,

H (Hypothesis 1a): There is a posit ive 1 a

relationship between Economic Globalisation Index and Human Development Index.

H (Hypothesis 1b): There is a positive 1 b

relationship between Social Globalisation Index and Human Development Index.

H (Hypothesis 1c): There is a positive relationship 1c

between Political Globalisation Index and Human Development Index.

ii) Corruption Perception Index

Corruption has a negative impact on globalization (Hines,1995 and Wei,2000). Smarzynska and Wei (2000) sugges t tha t corrupt ion reduces transparency and increases the power of bureaucracy; as a result foreign direct investors are less interested to invest in corrupted country. But a reverse result is depicted by the study of Henisz (2000). He examines the effect of corruption on new foreign business enters the market and ownership mode for US based multinational companies. He observes that coefficients of corruption on new foreign business are insignificant that represent corruption is associated with globalisation. But generally it is expected that corruption creates a negative impact on globalisation. Therefore, the following hypotheses may be drawn:

H : There is a negative relationship between 2

globalisation index and corruption perception index.

H (Hypothesis 2a): There is a negative 2 a

relationship between Economic Globalisation Index and Corruption Perception Index.

H (Hypothesis 2b): There is a negative 2 b


relationship between Social Globalisation Index and Corruption Perception Index.

H (Hypothesis 2c) : There is a negat ive 2 c

relationship between Political Globalisation Index and Corruption Perception Index.

iii) Global Terrorism Index (GTI) : Terrorism is the use of violence or threat of violence in order to purport a political, religious, or ideological change (Wikipedia). Degree of terrorism movement has been measured through Global Terrorism Index (GTI). It is an attempt to prepare ranks in a systematic way of the world based on terrorist movement (Fandl, 2003). This activity of a country creates negative impact on trade activities (Nitsch and Schumacher, 2003). S.W.Polachek (2004) also examines the negative association between trade and terrorism movement. From the above be concluded that, globalisation is negatively affected by Global Terrorism Index. Following hypothesis can be derived from the above explanation.

H (Hypothesis 3) : There is a negative relationship 3

between Global Terrorism Index and globalisation index.

H (Hypothesis 3a): There is a negative 3 a

relationship between Economic Globalisation Index and Global Terrorism Index.

H (Hypothesis 3b): There is a negative 3 b

relationship between Social Globalisation Index and Global Terrorism Index.

H (Hypothesis 3c) : There is a negative 3 c

relationship between Political Globalisation Index and Global Terrorism Index.

Section-VI : Research Methodology

Measurement of Variables : Two types of variables have been considered, namely dependent and independent variable which are as under:

Dependent Variable : Forty eight years Globalisation indexes, economic globalisation indexes, social globalisation indexes, political globalisation indexes which are provided by KOF (Swiss Economic Institute) for India have been considered as dependent variable.

Independent Variable : Three variables have been considered and establish as independent variable for the study.

Human Development Index : The Human Development Index (HDI) is a combined measure of average achievement of key dimensions of human development i.e. a long and healthy life, being knowledgeable and have a decent standard of living. The HDI is the geometric mean of normalized indices for each of the three dimensions (Human Development Report). Higher score indicates higher development of human life.

Corruption Perception Index : The Corruption Perceptions Index is the result of public sector survey. It measures the perceived levels of public sector corruption in countries worldwide. It based on expert opinion; countries are scored from 0 (highly corrupt) to 10 (very clean). Some countries score well, but no country scores a perfect 100. (Petrobas, 2012 ).

Global Terrorism Index : The Global Terrorism Index (GTI) is an attempt to represent systematic rank the nations of the world according to terrorist activity. The index combines a number of factors associated with terrorist attack. It is the product of Institute for Economics and Peace (IEP) and is based on data from the Global Terrorism Database (GTD) which is collected and collated by the National Consortium for the Study of Terrorism and Responses to Terrorism (START) at the University of Maryland. Higher value of this index provides high terrorism activity and vis-à-vis. It varies between zero (0) to one (1) (Wikipedia).

Hence, multiple regression model has been used as method for analysing the result of this study by taking log both side. Hence augmented dickey fuller test is applied for searching out the data whether stationary or not. Durbin Watson test is a l s o a p p l i e d f o r i d e n t i f y i n g w h e t h e r autocorrelation among sample independent variables exist or not. Jarque-Bera test is applied for t e s t i n g t h e n o r m a l i t y o f t h e d a t a . Heteroscedasticity test helps to examine the Multi-Co linearity among data. Following regression equation represents the relationship of said above mention elements and globalisation index.

LGI = β0+β1LHDI+β2LCPI+β3LGTI+℮

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L G I ( t - 1 ) = β 0 + β 1 ( L H D I t - 1 ) + β 2 ( L C P I t -1 ) + β 3 ( L G T I t - 1 ) + ℮ [ T a k i n g l a g 1 , b o t h side]………..(i)

Relationship of economic globalisation index and above mention environmental elements represent as follows:

LEGI= β0+β1LHDI+β2LCPI+β3LGTI+℮

L E G I ( t - 1 ) = β 0 + β 1 ( L H D I t - 1 ) + β 2 ( L C P I t -1 ) + β 3 ( L G T I t - 1 ) + ℮ [ T a k i n g l a g 1 , b o t h side]………..(ii)

Equation No (iii) represents the relationship between Social globalisation index and above mention environmental elements.

LSGI= β0+β1LHDI+β2LCPI+β3LGTI+℮

L S G I ( t - 1 ) = β 0 + β 1 ( L H D I t - 1 ) + β 2 ( L C P I t -1 ) + β 3 ( L G T I t - 1 ) + ℮ [ T a k i n g l a g 1 , b o t h side]………..(iii)

Political globalisation index and its relationship with human development index, corruption perception index and global terrorism index is reects through the following equation:

LPGI= β0+β1LHDI+β2LCPI+β3LGTI+℮

L P G I ( t - 1 ) = β 0 + β 1 ( L H D I t - 1 ) + β 2 ( L C P I t -1 ) + β 3 ( L G T I t - 1 ) + ℮ [ T a k i n g l a g 1 , b o t h side]………..(iv)

Section-VII : Analysis of Result

Part-I

Result of descriptive statistics shows by the table number 2. Deviation of globalisation index among sample years is 0.124469. Deviation of Economic globalisation is lower than other variables i.e. 0.01887. Coefficient of variance signifies the consistency of data among sample period. Value of coefficient variance of Political Globalisation index (3.693327) indicates more consistency among sample period than other variables. Value of Global terrorism index is lower consistent (36316.73) than all other variables.

Explanation of variables are presented by table 1

Variable Description

LGCI Log of Globalisation Index

LEGI Log of Economic Globalisation Index

LSGI Log of Social Globalisation Index

LPGI Log of Political Globalisation Index

LHDI Log of Human Development Index.

LCPI Log of Corruption Perception Index.

LGTI Log of Global Terrorism Index.

Table 1 : Variable Explanation

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Source : Author Analysis

Table 2 : Descriptive Statistics

Dimension

Mean

Median

Maximum

Minimum

Std.Dev.

Co. ver

Jarque-Bera

Probability

LGI LEGI LPGI LSGI LHDI LCPI LGTI

1.557202 0.008297 1.881014 1.156732 0.033813 0.040665 0.010372

1.54757 0.002421 1.913038 1.043663 0.006682 0.011184 0.039553

1.719165 0.086607 1.962748 1.49502 0.375821 1.18327 9.21442

1.398789 0.015094 1.763784 0.829642 -0.00844 -0.1835 -11.6067

0.124469 0.01887 0.069472 0.293707 0.06918 0.178755 3.766771

7.993118 227.4316 3.693327 25.3911 204.5959 439.5795 36316.73

5.989843 71.91618 5.462662 7.185442 362.8399 2553.704 5.685541

0.050041 0.000 0.065133 0.027523 0.000 0.000 0.058264

Source : Statistical Analysis

44

Hence, the probability value of Jarque-Bera test signifies whether the data are normally distributed or not. Probabilities of all variables are significant at less than 5% level except the probability of global terrorism index. It indicates variables are not normally distributed except GTI.

Whether the data are stationary or not that is searching out through Augmented Dicker Fuller (ADF) test. Following table (No.3) shows the result of these tests:

All data was non stationary before taking lag. After taking lag 1 the data are stationary. ADF test (t-stat) and probability value reects these result in table no.3.

The independent variables of equation no (i) is free from autocorrelation. The Durbin Watson test value is 1.52976 which belongs to autocorrelation free range i.e. 1.5 to 2.5 (rule of thumb). Table no 6 shows this result.

Multi co- linearity of the variables of equation n o . ( i ) i s t e s t e d t h r o u g h t h e t e s t i n g o f heteroscedascity. Hence, observed R squared is 0 .914814 and probabi l i ty Chi -Square i s insignificant i.e. 0.8219. So there is not any heteroscedascity, homosodasticity exists here. Result of table no.4 reects that there is no multi co-linearity among variables.

Table 3 : Result of Test

Index

Augmented Dickey Fuller Test

t-stat Prob.

LGI

-6.780099

0.0000

LEGI

-6.573426

0.0000

LSGI

-4.456385

0.0008

LPGI

-8.804593

0.0000

LHDI

-8.006740

0.0000

LCPI

-6.896650

0.0000

LGTI -6.423505 0.0000

Coefficient of GI with HDI is positive (0.231226) and significant. This relation satisfies the alternative hypothesis 1(H ). So, human 1

development plays a vital role for the growth of globalisation. HDI consists of education, income level and health of individual. These have also positive relationship with the development of globalisation of our country. Sustainability of globalisation is possible through the enhancement of the development of human being which is concerned with education, income and health. Corruption Perception Index is positively (0.113358) related with GI and it also significant. Result of this relation does not satisfy the alternative hypothesis 2 (H ). This presents that 2

corruption of India positively inuence the globalisation. Global terrorism index has negative inuence on globalisation. Terrorism activity of India reduces the ow of globalisation. Coefficient of GTI and GI is -0.063522 that is significant at 5% level. This satisfy alternative hypothesis 3 (H ) and 3

it signifies that 1% positive change in GTI creates 6.35% negative change in globalisation. Hence, it can be concluded that sustainabi l i ty of globalisation in India is possible through the development of HDI.

Adjusted R-Square is 74.92%. It indicates that the good fitness of regression model. Table No 6 shows this result. Hence F-statistics value also significant.


Results of regression equation no (i) i.e. three independent variables with globalisation index are depicted by the table no.5.

Table 4 : R Test Statistics

Obs. R Squared 0.914814

Probability Chi-Square 0.8219

Table 5 : Regression Test Statistics

Variable Coefficient t-statistics Probability

C

1.071005

18.98877

0.0000

LHDI

0.231226

4.368760

0.0001

LCPI 0.113358 4.808431 0.000

LGTI -0.063522 -2.108570 0.0410


Source : Stitistical Analysis



Table 10 : R Statistics


45


Table 7 : Model Summary



Effect of HDI,CPI and GTI on Economic Globalisation Index is reects in table no.8. Hence HDI is negatively associated with Economic Globalisation and it is not significant. Hypothesis 1a (H1a) is not satisfied here. Result signifies that 1% positive change in HDI inuences .64% negative change in globalisation. It can be said that more development in education, income level and health of human being makes a country economically independent from other nations. That helps to reduce the intensity of economic globalisation.


Table 8 : Coefficient

Variable Coefcient t-statistics Probability

C

0.00939

2.964775

0.0050

LHDI

-0.006498

-0.401914 0.6898

LCPI -0.000841 -1.107592 0.2743

LGTI -0.040833 -0.934020 0.3556


Part-II

The independent variables of equation no (ii) is free from autocorrelation. The Durbin Watson test value is 1.971605 which belongs to autocorrelation free range i.e. 1.5 to 2.5 (rule of thumb). Table no 9 shows this result. Multi co- linearity of the variables of equation no.(ii) is tested through the testing of heteroscedascity. Hence, observed R squared is 1.045976 and probability Chi-Square is insignificant i.e. 0.7901. So there is not any heteroscedascity, homosodasticity exists here. Result of table no.7 reects that there is no multi co-linearity among variables.


R-Squared 0.765948

Adj. R-Squared 0.749230

F-Statistics

45.81565

Probability (F-Statistics)

0.000

Durbin-Watson stat 1.52976


Result of corruption perception and economic globalisation is negative that satisfy alternative hypothesis 2a (H ) but value is not statistically 2a

significant. Growth of corruption reduces the degree of economic globalisation. Global terrorism has a negative impact on globalisation i.e. 1% negative change in GTI, enhances 4.08% positive change in globalisation. This value is not statistically significant.

Model summary of table no 9 shows that the regression model is not good fit. Hence, the adjusted R-Squared is 1.5% level only and F-stst is not significant at 5% level.

Table 9 : R statistics

R-Squared 0.0527715

Adj. R-Squared

0.015483

F -Statistics

0.771289

Probability (F-Statistics)

0.516592



Part-III

The independent variables of equation no (iii) is free from autocorrelation. The Durbin Watson test value is 1.811861 which belongs to autocorrelation free range i.e. 1.5 to 2.5 (rule of thumb). Table no 12 shows this result.

Multi co- linearity of the variables of equation no . ( i i ) i s tes ted through the tes t ing of heteroscedascity. Hence, observed R squared is 0 .418247 and probabi l i ty Chi -Square i s insignificant i.e. 0.9364. So there is not any heteroscedascity, homosodasticity exists here. Result of table no.10 reects that there is no multi co-linearity among variables.



C

0.273839

2.341356

0.0238

LHDI

0.390103

3.942958

0.0003

LCPI

0.171432

3.035199

0.0040

LGTI -0.045218 -0.951884 0.3464


Social globalisation and HDI is positively related to each other that is statistically significant and satisfy alternative hypothesis1b (H ). Result 1b

shows in table no 11. Hence, 1% positive change in HDI inuences 39.01% positive in social globalisation. Corruption Perception creates positive impact on globalisation (0.171432) and it is statistically significant. But this relation does not satisfy alternative hypothesis 2b (H2b).

Global terrorism creates negative impact on political globalisation. It satisfy alternative hypothesis 3c (H ) but not statistically significant. 3c

This result indicates that terrorism activity of any country reduces the area of political globalisation.


R -Squared 0.827717

Adj. R-Squared

0.815698

F-Statistics

68.86323

Probability (F-Statistics) 0.0000


46


Part-IV

The independent variables of equation no (iv) is free from autocorrelation. The Durbin Watson test value is 1.681706 which belongs to autocorrelation free range i.e. 1.5 to 2.5 (rule of thumb). Table no 15 shows this result.

Table 13 : R Statistics




Political globalisation is positively related with human development index and it is significant which satisfy alternative hypothesis 3a (H ). So 3a

exchange of political thought, ideology depends of development of human being. Hence, 1% positive change in Human development index inuences political globalisation positively 10.92%. Result of corruption perception index and political globalisation does not satisfy alternative hypothesis 3b (H ). CPI positively related with 3b

political globalisation. It can be said that more corruption invites more political globalisation.



C

1.652389

71.95885

0.0000

LHDI

0.109266

5.244886

0.0000

LCPI 0.041250 3.947239 0.0003

LGTI -0.011791 -1.072306 0.2896



R - Squared 0.688426

Adj. R - Squared 0.667182

F -Statistics

32.40611

Probability (F - Statistics)

0.0000

Durbin - Watson stat 1.811861


Global terrorism creates negative effect on social globalisation, it satisfies alternative hypothesis 3b (H ) but not statistically significant. So, 3 b

enhancement of global terrorism reduces the ow of social globalisation. Social globalisation will be sustainable through the enhancement of human development.

Table No 12 presents the model summary of regression equation no (iii). Value of Adjusted R Square is 66.71% which indicates the good fitness of regression mode. Hence, the F-Stat value is significant.

Multi co- linearity of the variables of equation no . ( i i ) i s tes ted through the tes t ing of heteroscedascity. Hence, observed R squared is 6.475112and probability Chi-Square is not significant at 5% level i.e. 0.0906. So there is not any heteroscedascity but homosodasticity exists here. Result of table no.13 reects that there is no multi co-linearity among variables.


47


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S e c t i o n - V I I I : C o n c l u s i o n a n d Recommendation

Globalisation of India is inuenced by sample environmental elements during the forty eight years study period (1970-2017). Economic globalisation, social globalisation and political globalisation are also affected by sample environmental elements. Sustainability of globalisation and the sustainability of its dimensions are possible through the controlling of independent variables. Result of four equations depicts that human development carries a vital role for the development of globalisation. Economic globalisation has negative relationship with HDI but social and political globalisation is positively inuenced by it. Corruption plays negative role for economic globalisation but in other three cases it acts as a positive inuential element i.e. corruption invites globalisations. GTI has negative impact on every case. So it is not suitable for the growth and development of globalisation and for it dimensions.

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