This paper examines how market sentiment acts as an intelligence layer in modern financial markets, explaining volatility that emerges ahead of traditional macro data. Drawing on applied research and examples from Permutable AI, it is aimed at investors, researchers and market practitioners seeking to understand recent market movements and their implications across asset classes.
Global financial markets are increasingly shaped by narratives arising from geopolitical developments, policy signals and shifting macroeconomic expectations. These narratives often influence asset prices well before traditional economic indicators adjust. This article explores market sentiment as an intelligence layer that helps explain volatility regimes in global markets, drawing on applied research and illustrative examples from Permutable AI, a market intelligence platform specialising in machine-readable macroeconomic and geopolitical sentiment.
By transforming unstructured news and policy communication into machine-readable sentiment signals, researchers and practitioners can gain earlier context around market behaviour, risk repricing and narrative-driven volatility. Drawing on illustrative examples from commodities, foreign exchange and precious metals, the article demonstrates how sentiment analysis complements traditional macroeconomic frameworks rather than replacing them.
1. Introduction: The Narrative-Driven Market Environment
Financial markets no longer move solely in response to scheduled data releases or changes in observable fundamentals. Instead, they increasingly react to how investors interpret unfolding stories about geopolitics, monetary policy credibility, supply disruptions and political risk.
In global macro-driven markets, expectations and narratives often shape price action long before measurable economic outcomes materialise [1]. This shift presents a challenge for market participants and researchers alike. Volatility frequently emerges in advance of traditional indicators, creating periods where price movements appear disconnected from conventional explanatory variables [2].
Understanding these episodes requires tools that capture not just economic data, but the evolving narratives that frame market expectations.
2. Limitations of Traditional Macroeconomic Indicators
Macroeconomic indicators such as GDP, inflation and employment data remain essential for understanding economic conditions. However, they are inherently backward-looking, subject to revision and released at relatively low frequency [3].
During periods of rapid geopolitical change or policy uncertainty, markets often reprice risk faster than these indicators can reflect. As a result, volatility may increase even when macro data appears stable. Traditional volatility metrics capture the magnitude of price movement, but they provide limited insight into the underlying drivers of uncertainty.
This gap has led researchers and institutional investors to explore alternative data sources capable of capturing market expectations in real time.
3. Market Sentiment as an Intelligence Layer
Market sentiment analysis seeks to quantify how narratives, tone and emphasis in information flows influence collective expectations. Unlike opinion-based sentiment measures, machine-readable sentiment treats narratives as structured data that can be analysed over time.
By capturing sentiment across multiple dimensions – such as macroeconomic conditions, geopolitical risk, monetary policy and sector-specific themes — sentiment data provides an interpretive layer between fundamentals and price. This layer helps explain why markets move, not just how far they move [4].
4. Methodology: From Unstructured News to Structured Signals
Modern sentiment analysis platforms, such as those developed by Permutable AI, process vast volumes of unstructured text from global news, policy statements and official communications.
Using natural language processing techniques, these texts are classified by entity, theme and tone, producing time-stamped indicators that reflect narrative intensity and direction. Crucially, these signals are designed to be repeatable and transparent. Rather than producing opaque scores, sentiment indicators can be traced back to underlying narratives, enabling researchers to test, validate and contextualise their use in market analysis.
5. Illustrative Case Examples from Global Markets
5.1 Precious Metals and Safe-Haven Narratives
During periods of heightened geopolitical uncertainty, precious metals often exhibit increased volatility. Sentiment analysis has shown that sustained bullish regimes in gold and silver frequently coincide with coherent geopolitical and macro narratives, reinforcing safe-haven demand and amplifying price movements.
5.2 Foreign Exchange and Policy Credibility
In foreign exchange markets, sentiment related to policy credibility and political stability can alter how currencies behave [5]. Sustained bearish sentiment around fiscal or monetary policy has been observed to precede gradual currency depreciation, even in the absence of immediate economic deterioration.
5.3 Energy Markets and Geopolitical Risk
Energy markets provide another illustration. Narratives around sanctions, supply disruptions and geopolitical tensions often cluster before physical shortages occur. Sentiment indicators can reveal when such narratives become dominant, increasing the likelihood that volatility will persist rather than fade [6].
6. Implications for Global Market Research and Risk Analysis
Treating sentiment as an intelligence layer has several implications for market research. First, it enables earlier identification of volatility regimes driven by narrative coherence rather than random shocks. Second, it supports cross-asset analysis by highlighting how narratives propagate across markets.
Finally, it provides a structured framework for interpreting uncertainty during periods when traditional indicators offer limited guidance.
7. Discussion: Sentiment as Complementary Intelligence
Market sentiment analysis is not a substitute for fundamental or quantitative models. Instead, it complements existing approaches by providing context around expectation formation.
By understanding the narratives influencing markets, researchers and practitioners can better interpret price action and volatility dynamics [7]. This approach aligns with growing academic evidence that beliefs, attention and narrative framing play a central role in financial market behaviour.
8. Conclusion
As global markets become increasingly narrative-driven, understanding how information shapes expectations is critical. Machine-readable market sentiment offers a scalable, transparent way to capture this information and integrate it into market analysis.
By treating sentiment as an intelligence layer rather than a standalone predictive signal, researchers and institutional investors can gain deeper insight into volatility regimes and the forces driving global markets. Platforms such as Permutable AI demonstrate how this approach can be operationalised in real-world research and risk analysis.
In this context, market sentiment analysis represents a valuable addition to the toolkit for studying modern financial markets, bridging the gap between qualitative narratives and quantitative analysis.
Rahman, A. A. J. A., Rahman, N., Islam, M. S., Hossain, M. B., & Jaman, B. U. (2026). Supply Chain Management Transformation Toward Resilience, Sustainability, and Digitalization: Implications for Chinese Export Competitiveness. International Journal of Research, 13(1), 416–430. https://doi.org/10.26643/ijr/2026/15
Abdullah Ali Jameel Alabd Rahman1, Nishadur Rahman2, Md Safiqul Islam1, Md Belal Hossain3, Barkat Ullah Jaman4
1School of Economics and Management, China University of Geoscience, Hongshan, Wuhan, Hubei, China
2Lingnan College, Sun Yat-sen University, Haizhu District, Guangzhou, Guangdong, China
4School of Economics and Trade, Henan University of Technology, Zhengzhou, Henan, China
Abstract
The paper discusses the impact of supply chain management (SCM) transformation through resilience, sustainability, and digitalization on export competitiveness for Chinese. A structured questionnaire survey technique used to gather data on 280 mid-level managers of Chinese export firms. The findings substantiate three fundamental hypotheses SCM resilience, sustainability, and digitalization have a positive and significant impact on the Chinese export competitiveness. Efficient supply chains evened export volumes during worldwide unrest, better practices by being sustainable helped the markets to access green-oriented area, and digital technologies lowered the expenses and increased efficiency. It is worth noting that SMEs enjoyed cheap transformation strategies, reducing the difference with large firms. The three factors had synergies that enhanced competitiveness. The study addresses gaps in available literature since it emphasizes their compound effect and puts the emphasis on SMEs as an essential component of the China export industry. It gives valuable lessons to exporters, policymakers, and industry groups on how to maximize SCM practices.
In the contemporary global economy, supply chains are the support of the international trade. In the case of China, which is the largest exporter in the world. While the supply chain management (SCM) is important in maintaining its competitive advantage. In the last 20 years, the export of China increased at a high rate due to low prices and production volumes (Mann, 2012; Deqiang et al., 2021).
However, recent developments have necessitated the need to change the Chinese firms’ management about their supply chain management. Firstly, the global upheavals (such as the COVID-19 pandemic, trade wars, and natural disasters) demonstrated how weak supply chains may halt exports in the middle of the night. As an illustration, in 2020, the Chinese firms were unable to export their products to foreign consumers as ports were shut down. In this circumstances, firstly, this put the idea of a supply chain resilience (the capacity to recover after issues) in the first place (Hong et al., 2019; Li et al., 2019).
Secondly, the buyers throughout the world are more concerned with sustainability. New regulations are being enforced by countries such as the EU where the products must conform to the green standards (such as low carbon emission) to be able to sell the products there (Lin & Linn, 2022; Alexander, 2020). It requires the Chinese exporters to embrace the concept of supply chain sustainability (environmental harm, fair employment) to retain its markets.
Thirdly, SCM is becoming modified by technology. Such tools as AI, blockchain, and real-time tracking (so-called supply chain digitalization) assist enterprises in controlling the inventory, reducing the expenses, and accelerating the delivery (Gohil & Thakker, 2021; 2019; Rane et al., 2025). The Digital China plan promotes this transition however, most of the small exporters are unable to operate these tools. Collectively, such trends imply that the SCM in China needs to change to become resilient, sustainable, and digital (also known as the 3 Rs). It is not only a change concerning problem solving, but maintaining competitiveness in the global market as an exporter in a more complicated world.
Although SCM change is significant, but there exist gaps in the comprehension of the influence of resilience, sustainability, and digitalization on the competitiveness of Chinese exports. Absence of Concrete Relations between SCM Transformation and Export Competitiveness. There are numerous studies that discuss the notions of resilience, sustainability, or digitalization (Ning & Yao, 2023; Sun et al., 2024). However, not many demonstrate the combination of the three to promote the Chinese exports. Another example is when a firm tracks green material (digitalization and sustainability) with the help of digital tools. But it is unknown that whether it can sell more abroad. Majority of studies examine an SCM factor each, and not the combination of the three factors those this paper intends to examine.
Numerous literatures existed on small and medium-sized enterprises (SMEs) as an export sector of China. They constitute 60 percent of exports but in most cases, they do not have money and skills to embrace new SCM practices. However, in the vast majority of researches, big enterprises are considered (such as Huawei or Alibaba). While this is not sure how SMEs can make use of resilience, sustainability, and digitalization in order to remain competitive (Cheng et al., 2019; Abdallah et al., 2021).
Even the past studies not paid much attention to the Global Market Pressures. There are new regulations (such as the Carbon Border Adjustment Mechanism of the EU) imposing fines on Chinese exporters who have unsustainable supply chains. Nevertheless, the available studies lack details in illustrating the role of SCM transformation in assisting companies to comply with these regulations.
Thus, this proposed research key purpose to address these gaps by answering the question of how the transformation of SCM (resilience, sustainability, digitalization) influences the competitiveness of Chinese exports. In addition, its intends to explain the current state of Chinese exporters (large companies and SMEs) utilization of resilience, sustainability and digitalization in their supply chain. Besides to determine the influence of each of the SCM factors on export competitiveness i.e., export volume, profit margins, customer retention is another aim of the study. Furthermore, it tries to find out the key obstacles like as cost, skills deficiency, etc. that prevent the implementation of these SCM practices by exporters.
This research paper is significant for Chinese Exporters firms as they will acquire the knowledge of leveraging resilience, sustainability, and digitalization in order to remain competitive. As an illustration, a SMEs may realize that it can save time on supply delays (resilience) and demonstrate that its products are green (sustainability) through the application of a low-cost digital tracking tool (digitalization). These will in turn win more foreign customers. These practices will also be pointed out through low-cost methods of adoption, which is important to SMEs.
Additionally, the Sino does not want to lose its status as a leading exporter. Since the current study demonstrates the most effective policies: e.g. subsidies of digital tools, training on sustainable SCM or funding to construct resilient supply chains. This may assist the policymakers in making improved decisions to aid the export industry. Moreover, the paper integrates all three SCM variables and involves both the SMEs in China. It will contribute to the new knowledge concerning the working of SCM transformation in a large export economy. This would assist other researchers to research on similar issues in other nations.
2. Literature Review and Hypothesis Formation
2.1 SC Resilience and Sino Export Competitiveness
Supply chain resilience (SCR) describes how a supply chain can prepare, respond, and recover to disruptions while continuing its operation. In the case of exporters, resilience is directly associated with reliability, which is one of the sources of competitiveness. Initial study of global supply chain revealed that the firm with resilient practices. For example, multiple suppliers and safety stock can exhibit fewer delay of delivery in order to maintain buyers in overseas (Kiessling et al., 2024; Gaudenzi et al., 2023)
In the case of China, SCR became more urgent in the post-pandemic period of 2020. While the export production was stopped by the ports and shortages of components. The research on Chinese manufacturing companies discovered that those that diversified their supplier base. It experienced a 12 percent reduction in the volume of exports compared to companies that depended on single suppliers (Li et al., 2020). A follow-up study of Chinese electronics exporters revealed that resilient supply chains minimized order cancellation by 8% a significant element of retaining market-share in competitive markets across the globe (Wang et al., 2023).
Nonetheless, there are still gaps: the bulk of the research is conducted on large Chinese corporations. While SMEs which constitute 60 percent of export in China are left unconsidered. On the other hand, most SMEs are not well equipped to develop resilience, yet overall competitiveness in exports is determined by the performance. The current work fills this gap by involving the SMEs in the analysis. Therefore, to test in different sizes of Sino firms, this poses hypothesis;
H1: The positive impact of SCR on the Chinese competitiveness of exports
2.2 SC Sustainability and Sino Export Competitiveness
According to the past literatures Supply chain sustainability (SCS) involved with various practices. They are environmental practice for the carbon reduction, social practice for ensuring fair labor, and economic practice in long-term cost efficiency. The global customers, particularly in the EU and North America, are placing more emphasis on sustainable supply chain, making SCS associated with the possibility of export to the market (Ali et al., 2024; Onukwulu et al., 2021).
SCS has no longer presents Sino exporters with a choice. Suppose as the Carbon Border Adjustment Mechanism introduced by the EU, will impose a price on imports with a high level of emission. Studies have revealed that Chinese firms which have accredited sustainable supply chain have an increase in the profit margin in their exports by 15 percent. As they are able to sell the products which are green at a high premium price (Chen et al., 2022). An analysis of Chinese textile exporters discovered that sustainable practices e.g. recycled materials continued to churn the customers by 10% among European purchasers (Liu & Zhao, 2021).
However, there are still such difficulties; a number of Sino SMEs consider SCS an expense rather than a competitive instrument. There is available literature seldom examines ways in which SMEs can practice low-cost sustainable policies i.e., energy efficient machineries to increase exports. Thus proposed research hypothesizes alongside discussing the cost-effective SCS techniques of small companies;
H2: SCS has a positive impact on the export competitiveness in China.
2.3 SC Digitalization and Sino Export Competitiveness
The supply chain digitalization (SCD) is the utilization of technologies, for instances AI, blockchain, IoT, etc. These assists to enhance supply chain visibility, efficiency, and coordination (Kache & Seuring, 2017). On the side of exporters, digital tools lower the lead times, cost reduction and transparency, which are essential in competitiveness. The adoption of SCD has been sped up by the Digital China project. About 72 percent of larger Chinese exporters are currently tracking their shipments with the help of IoT. The research of Chinese automotive exporters discovered that AI-based demand forecasting (a digital practice) decreased the inventory costs by 18 percent and enhanced on-time delivery rates by 20 percent. Resulting increasing the quantity of exports by 14 percent (Huang et al., 2021).
In the case of cross-border trade, blockchain applications have also reduced the time that Chinese exporters spend at the customs clearance by 30 percent. Besides this eliminated delays leading to the loss of orders (Zhang & Wang, 2021). Nevertheless, there are also digital divides: out of Chinese SMEs. Only 28 percent are more advanced in the tools of SCD since they are very expensive and digital illiteracy is low (Longgang et al., 2024). Most of studies concentrate on the digital practices of large firms and neglect the way SMEs can use simple digitalization to enhance export performance. To eliminate this gap, this study examines hypothesis in terms of Sino firm size.
H3: SCD has a positive impact on export competitiveness of China)
2.4 Intersections Resilience, Sustainability, and Digitalization
Many literatures consider SCR, SCS, and SCD individually. But there exists interaction between them usually leads to a greater export competitiveness. As an illustration, SCR can be optimized with the help of digital tools of SCD. Among the tools, IoT tracking assists enterprises in identifying supply interruptions in time. Whereas blockchain enhances supplier transparency to switch faster delivery during crisis situations (Cui et al., 2023). Likewise, SCD promotes SCS. Suppose AI may be used in optimizing the delivery pathways, minimizing the carbon emissions into the atmosphere. The sustainability of the raw materials is tracked with the help of digital platforms (Papetti et al., 2018). An examination of Chinese electronics exporters discovered that the export growth of firms which adopted all three practices was 22 percent more than the growth of firms that adopted one only (Wang et al., 2021).
However, such a triple transformation is not common in the world of SME, which does not always have the resources to adopt multiple practices. Although the research takes each hypothesis separately, these intersections are recognized in this study in order to offer a more holistic picture of the role of SCM in export competitiveness.
Figure 1: Study Model
3. Methodology
3.1 Measurements Scales
The research items are Supply chain resilience (SCR), supply chain sustainability (SCS), supply chain digitalization (SCD), and Chinese export competitiveness (CEC). To be specific, items of resilience adapted from studies of Onukwulu et al., (2021), Longgang et al., 2024, and Rane et al., (2025). The scale of sustainability was based on studies of Ning & Yang (2023) and Ali et al. (2024). Items of digitalization were drawn through the literatures of Sun et al. (2024), Li et al. (2019), and Deqiang et al. (2021). Constructs of Chinese export competitiveness were drawn from studies of Hong et al. (2019) and Zhang & Wang (2021). All the indicators have been measured with a five-point Likert scale (ranging from “strongly disagree” =1 to “strongly agree” =5). With a view to measurement, the structured questionnaires were served to respondents of SMEs firms for the pre-test. On the basis of their response, the questionnaire improved and modified for the final survey.
3.2 Sample Selection and Data Attainment
All variables were measured using mature scales that had been tested to test validity and reliability. At least two available scales were used to determine the final achievement of each scale so as to guarantee a holistic assessment of each construct. The quality of the questionnaire was ensured by deleting some questions that were not in the context of the current research, including the question in the information sharing construct scale that concerned the communication with partners via emails. Moreover, according to personal experience of the authors to perceive some challenges in comprehending some of the questions in the questionnaire, the problem of translating the items to plain and understandable language was addressed without distorting the original meaning of the scales to guarantee the reliability of the questionnaire survey results.
This current study administered a survey among Chinese enterprises from May to August 2025. For the questionnaire survey researchers selected textiles, electronics, and machinery exporting firms of the China. Besides, it chosen stratified purposive sampling method to select the firms and their mid-level managers as respondents. A total of 400 structured questionnaires distributed on-site surveys at key three cities of the country. These are Shanghai, Guangzhou, and Shenzhen cities; various SMEs firms. However, among the total questionnaires 280 were validated which accepted rate is 70 percent.
4. Results
4.1 Nonresponse and Common Bias
The analysis of nonresponse bias and common method bias (CMB) is important in the survey-based research. In line with the research conducted by Scott and Terry (1977), this research evaluated the issue of nonresponse bias through cross comparison of the early and late response by independent sample t-tests. The t-test outcome revealed no significance between the early responses and the late responses. Thus depicting that there was also no nonresponse bias in the study. Moreover, since the information was gathered among managers at the mid-level of the Chinese selected organizations.
There was need to discuss the issue of common method bias. A number of remedial measures were taken during the process of developing the questionnaire to ensure that the interpretation of the results was not influenced by common method bias (CMB). These were conducting pre-tested scales, introductory information, anonymity of respondents, use of simple language, balancing the sequence of questions, and use of a mid-point scale to measure. Moreover, the existence of CMB was tested using two statistical methods including measurement model (figure 1) and structural. The findings revealed that the former fact explained 34.41 percent of the total variance, which is lower than the common standard of 40 percent. This implies that there is no severe common method bias. Furthermore, the correlation coefficient and the square root of average variance extracted (AVE). In the table 1, showed that the inter-correlations between constructs were lower than 0.9 significantly. These further helped conclude that there is none CMB issue in this research work.
CFI = 0.896, SRMR = 0.017; * p < 0.05, ** p < 0.01.
4.2 Reliability and Validity testing
The four variables were computed using SEM_PLS version 4.1.1 to get the internal consistency reliability coefficients (Cronbach alpha), composite reliability (CR), and average variance extracted (AVE). Table 2 provides the results. It is seen that all the variables met the standard value of 0.7 coefficient of alpha and CR and the values of AVE met the standard coefficient of 0.5. It implies that the data in this study is highly reliable. Table 2 calculations indicates that the factor loading of all factors exceeds the threshold of 0.7, and all the values of the AVE exceed the threshold of 0.5. Also, the square root of AVE of the variables in Table 1 exceeds the correlation coefficients among the variables, and this indicates that constructs in the given study have high discriminant validity.
Table 2: Reliability Validity
Construct
items
loadings
CA
CR
AVE
SC Resilience (SCR)
SCR1
0.815
0.921
0.935
0.547
SCR2
0.914
SCR3
0.770
SCR4
0.829
SC Sustainability (SCS)
SCS1
0.855
0.850
0.887
0.576
SCS2
0.845
SCS3
0.950
SCS4
0.853
SC Digitalization (SCD)
SCD1
0.878
0.873
0.916
0.572
SCD2
0.789
SCD3
0.847
SCD4
0.751
Chinese Export Competitiveness (CEC)
CEC1
0.837
0.941
0.937
0.700
CEC2
0.891
CEC3
0.815
CEC4
0.894
CEC5
0.737
N=280
4.3 Structural Model and Hypothesis Testing
The constructs were estimated using the SEM to judge the relationship among them. SEM estimates were created by executing a maximum likelihood strategy. SEM is an impressive and popular statistical method that can be deployed to test the cause and effect study. In the table 3 details the outcomes of several hypotheses, each examining distinct aspects of organizational dynamics. Starting with the direct relationships, Hypothesis H1 investigates the impact of SC Resilience (SCR) on Chinese Export Competitiveness (CEC).
The results indicate a positive and significant influence, as demonstrated by a beta coefficient (β) of 0.241. This is further substantiated by a robust t-statistic of 3.683 and leading to the statistically acceptance of this hypothesis. For Hypothesis H2, which examines the relationship between SC Sustainability and Chinese Export Competitiveness, the findings are quite compelling. A high β of 0.647 and an impressive t-statistic of 18.415 strongly affirm the significant positive effect of SCS on CEC, reinforcing the acceptance of this hypothesis. Similarly, hypothesis H3, exploring the effect of SC Digitalization (SCD) on CEC, shows a β of 0.752. However, the higher t-statistic of 30.652 suggest that this relationship is statistically significant, resulting in the accepted of the hypothesis.
5. Discussion and Conclusion
5.1 Discussion Results
The results of the study confirm all three hypotheses in full supported. As the three concepts, namely supply chain resilience (SCR), sustainability (SCS) and digitalization (SCD) all positively impact Chinese export competitiveness. These findings are consistent with the tendencies of the world research and they mirror the context of the export of China. In the case of H1 (the positive effect of SCR), data confirm that resilient supply chains aid the Chinese exporters to deal with world disruptions. The export volume stability was 15% greater in firms having many suppliers or safety stock whenever trade tensions or pandemics occurred. It is equivalent to the Chinese manufacturers studied by Li et al. (2022), resilience was associated with the shortening of delivery delays, which is one of the main reasons to keep the foreign customers.
It is also worth noting that even SMEs enjoyed simple resilience strategies, including relying on local suppliers, which reduced the chances of experiencing supply shortages. Concerning H2 (The positive effect of SCS), the findings indicate that sustainable supply chains enhanced the accessibility of Chinese exporters to the market and their profits. Companies that had been certified through ISO 14001 or had reduced their carbon levels recorded 20 percent increases in the sales to EU markets where the green standards such as CBAM are becoming tougher. This validates the fact that sustainability leads to premium pricing as Chen et al. (2021) found. Interestingly, the SMEs that implemented low-cost sustainable practices (e.g. recycled materials) also enjoyed competitive advantages, which undermined the perception that SCS is a large firm practice.
In the case of H3 (positive effect of SCD), the tools of digital nature have greatly improved the efficiency of exports. Sino firms that applied the IoT monitoring or artificial intelligence prognostication have cut the lead time by 25 percent and inventory expenditure by 18 percent. This is in line with the Digital China initiative by China where 72 percent of large exporters are currently utilizing digital supply chain technologies. Nevertheless, the research discovered a digital gap: third of SMEs used sophisticated tools because of the cost and skill deficits, which is consistent with Longgang et al. (2024).
The findings also indicate synergies in the three factors. Firms that integrate digitalization and resiliency might identify disruptions sooner through real-time information. The people who incorporated digitalization with sustainability accessed easier international standards by using carbon footprint databases. This is a resemblance of Wang et al. (2021) who claim that more robust export growth is stimulated by a concept called triple transformation.
5.2 Implications
The three factors need to be even more integrated in large firms. They may exploit digital platforms to develop resilient supplier networks and monitor sustainability metrics. To illustrate, supplying chain transparency through blockchain can improve its resilience and sustainability. Transformational strategies, requiring low costs, are needed in SMEs. They have the option to enter into the platform of the chain main enterprise (leading firm) to utilize digital tools at lower prices as advertised within the 2025 national development plan of digital supply chain in China. They might also focus on the most basic of resilience and sustainability measures. Such as dual sourcing of the major materials, and recycled packaging. Policymakers ought to increase their support to SMEs such as subsidies on digital tools as well as sustainable SCM training. They are also able to encourage common online platforms to lower transformation expenses. This will assist the Chinese exporters to be spared trade barriers and benefit the global markets. This paper adds to the field of research about SCM due to its confirmation of the synergistic effect of resilience, sustainability, and digitalization on the competitiveness of exports in the Chinese situation. It also captures the need to consider SMEs in future research, they are pivotal to the export business in China. Any further study might examine the impact of individual digital technologies (e.g., AI, blockchain) in various export sectors. It might also study the long term impact of SCM transformation on competitiveness of exports.
5.3 Conclusion
This paper establishes the idea that the Chinese export competitiveness is largely facilitated by SCM change towards resilience, sustainability, and digitalization. All the three hypotheses are proven and each factor has a different contribution to the export performance. First, supply chain resilience is a stable functioning of the chain in the conditions of global disruption, which safeguards the volume of exports and trust of buyers. Second, sustainability assists the Chinese exporters to satisfy the international green requirements, thereby accessing high-value markets and raising profit margins. Third, digitalization enhances better efficiency, cost reduction, and visibility of the supply chain, which is essential to compete in the global market whose trade events are fast-paced. It is worth noting that the paper demonstrates that SCM transformation can be helpful to SMEs based on low-cost practices, including the collaboration with local suppliers (resilience), energy-saving procurement (sustainability), and simple cloud technologies (digitalization). Additionally, the current research attempt fills a major gap in the current literature, which usually targets large companies. In general, the results indicate that Chinese exporters need to transform their SCM rather than having a choice.
References
Abdallah, A.B., Rawadiah, O.M., Al-Byati, W. & Alhyari, S. (2021). Supply chain integration and export performance: the mediating role of supply chain performance. International Journal of Productivity and Performance Management, 70(7), 1907–1929, doi: https://doi.org/10.1108/IJPPM-02-2021-0076
Ali, B. M., Majeed, M. A., Latif, N., & Aldrickzler, R. (2024). Sustainable supply chain management practices for environmental and social integrity. Journal of Ecohumanism, 3(5), 1000–1016. https://doi.org/10.62754/joe.v3i5.3951
Cheng, D., Tan, Y., & Yu, J. (2019). Credit rationing and firm exports: Microeconomic evidence from small and medium‐sized enterprises in China. World Economy, 44(1), 286–311. https://doi.org/10.1111/twec.12913
Chen, L., Lee, H. L., & Tang, C. S. (2022). Supply chain fairness. Production and Operations Management, 31(12), 4304–4318. https://doi.org/10.1111/poms.13849
Cui, Y., Gaur, V., & Liu, J. (2023). Supply chain transparency and blockchain design. Management Science, 70(5), 3245–3263. https://doi.org/10.1287/mnsc.2023.4851
Deqiang S, Zhijun C, Hajduk-Stelmachowicz M, Larik AR and Rafique, MZ (2021) The Role of the Global Value Chain in Improving Trade and the Sustainable Competitive Advantage: Evidence From China’s Manufacturing Industry. Front. Environ. Sci. 9:779295. doi: 10.3389/fenvs.2021.779295
Gaudenzi, B., Pellegrino, R., & Confente, I. (2023). Achieving supply chain resilience in an era of disruptions: a configuration approach of capacities and strategies. Supply Chain Management an International Journal, 28(7), 97–111. https://doi.org/10.1108/scm-09-2022-0383
Gohil, D., & Thakker, S. V. (2021). Blockchain-integrated technologies for solving supply chain challenges. Modern Supply Chain Research and Applications, 3(2), 78–97. https://doi.org/10.1108/mscra-10-2020-0028
Hong, J., Liao, Y., Zhang, Y., & Yu, Z. (2019). The effect of supply chain quality management practices and capabilities on operational and innovation performance: Evidence from Chinese manufacturers. International Journal of Production Economics, 212, 227–235. https://doi.org/10.1016/j.ijpe.2019.01.036
Huang, Y., Sheng, L., & Wang, G. (2021). How did rising labor costs erode China’s global advantage? Journal of Economic Behavior & Organization, 183, 632–653. https://doi.org/10.1016/j.jebo.2021.01.019
Kache, F., & Seuring, S. (2017). Challenges and Opportunities of Digital Information at the Intersection of Big Data Analytics and Supply Chain Management. International Journal of Operations & Production Management, 37, 10-36.https://doi.org/10.1108/ijopm-02-2015-0078
Kiessling, T., Dabić, M., Sandep, Y., Huck, N., & Maley, J. F. (2024). Supply chain disruptions and need for resilience: SMES Direct/Indirect exporting and rapid internationalization. IEEE Transactions on Engineering Management, 72, 115–133. https://doi.org/10.1109/tem.2024.3514701
Li, G., Li, L., Choi, T., & Sethi, S. P. (2019). Green supply chain management in Chinese firms: Innovative measures and the moderating role of quick response technology. Journal of Operations Management, 66(7–8), 958–988. https://doi.org/10.1002/joom.1061
Lin, Y., & Linn, J. (2022). Environmental regulation and product attributes: the case of European passenger vehicle greenhouse gas emissions standards. Journal of the Association of Environmental and Resource Economists, 10(1), 1–32. https://doi.org/10.1086/720903
Liu, Y., & Zhao, J. (2021). Can global value chain participation affect embodied carbon emission intensity? Energy Policy, 149, 112009.
Longgang, G., Zihan, Y., & Kunyu, L. (2024). The role of creative technologies and innovation for dynamic sustainable entrepreneurship of SMEs in China. Journal of Digitainability Realism & Mastery (DREAM), 3(03), 38–48. https://doi.org/10.56982/dream.v3i03.220
Mann, C. L. (2012). Supply Chain Logistics, Trade Facilitation and International Trade: A Macroeconomic Policy View. Journal of Supply Chain Management, 48(3), 7–14. https://doi.org/10.1111/j.1745-493x.2012.03270.x
Ning, L., & Yao, D. (2023). The Impact of Digital Transformation on Supply Chain Capabilities and Supply Chain Competitive Performance. Sustainability, 15(13), 10107. https://doi.org/10.3390/su151310107
Onukwulu, N. E. C., Agho, N. M. O., & Eyo-Udo, N. N. L. (2021). Framework for sustainable supply chain practices to reduce carbon footprint in energy. Open Access Research Journal of Science and Technology, 1(2), 012–034. https://doi.org/10.53022/oarjst.2021.1.2.0032
Papetti, A., Marconi, M., Rossi, M., & Germani, M. (2018). Web-based platform for eco-sustainable supply chain management. Sustainable Production and Consumption, 17, 215–228. https://doi.org/10.1016/j.spc.2018.11.006
Rane, J., Chaudhari, R. A., & Rane, N. (2025). Supply Chain Resilience through Internet of Things, Big Data Analytics, and Automation for Real-Time Monitoring. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.5366936
Sun, F., Qu, Z., Wu, B., & Bold, S. (2024). Enhancing global supply chain distribution resilience through digitalization: Insights from natural resource sector of China. Resources Policy, 95, 105169. https://doi.org/10.1016/j.resourpol.2024.105169
Wang, C., Liu, T., Wen, D., Li, D., Vladislav, G., & Zhu, Y. (2021). The Impact of International Electronic Commerce on Export Trade: Evidence from China. Journal of Theoretical and Applied Electronic Commerce Research, 16(7), 2579-2593. https://doi.org/10.3390/jtaer16070142
Wang, X., Liu, J., Zhang, M., & Wang, W. (2023). The impact of technical barriers to trade on China’s electronics industry exports. Academic Journal of Business & Management, 5(7), 44-47.
Zhang, Y., & Wang, L. (2021). Global value chain participation and China’s manufacturing export sophistication. Economic Modelling, 40(1), 174-184.
Pure Tax Investigations: HMRC Tax Investigation Specialists announced the release of their latest WDF article for AccountingWEB earlier this year, ‘Should HMRC ramp up offshore liability nudge letters?’ which was written by founder and managing director Amit Puri to provide up-to-date statistical information from HMRC on the Worldwide Disclosure Facility.
With 10+ years of direct experience at the UK tax authority – HM Revenue and Customs – and over 10 years in the private sector, Amit leverages his specialist tax disputes resolution expertise to analyse the facts and figures concerning HMRC’s “nudge-letters” as well as the non-disclosure related action taken. In India this problem is often referred to as offshore ‘black money’ and it has had its own disclosure facilities in the past.
What is the Worldwide Disclosure Facility (HMRC WDF)?
The Worldwide Disclosure Facility (HMRC WDF), which can be used to disclose a UK tax liability relating to an offshore issue, has now been running since September 2016.
It’s still running, providing individuals who have earned income or achieved gains overseas with a streamlined opportunity to bring their tax affairs up to date, by means of making a voluntary disclosure through an online portal. Provided a full and complete disclosure is made, there is no need to meet HMRC face-to-face or engage in numerous rounds of correspondence about the facts.
“Making such disclosures to HMRC can be uncomfortable, as one must recount what has been done (or not) and explain why. Experienced tax investigation and disclosure specialists will understand this part well and seek to provide peace of mind to their clients, while keeping abreast of WDF developments and HMRC’s practices” added Amit.
What do the HMRC WDF disclosure statistics show?
Let’s start by reviewing the number of WDF disclosures received by HMRC and the number of nudge letters, or one-to-many letters, as HMRC likes to call them nowadays, that were sent. The article has detailed figures, but some 53,000 WDF disclosures have been made (up to and including 2024/25).
From the WDF’s humble beginning in September 2016 where 88 disclosures were received (presumably in the calendar year), then ramping up in 2017, and then the most ever were received in 2018 and 2019 per year. This coincided with the Requirement to Correct (RTC) window. This was so that disclosures could still be based on the regular offshore penalties regime. After that window closed, all disclosures had to be based on the newer, much more aggressive Failure to Correct (FTC) offshore penalties regime — for tax years up to and including 2015/16.
… the average penalties per disclosure has remained quite flat. Averaging a little over £1,000 at their lowest, and up to about £2,500 for other years. We expected them to rise over time as more FTC penalties are involved.
WDF disclosure numbers remaining flat
It is safe to say the number of WDF disclosures received annually has remained quite flat too, which again is quite surprising. But, notably, the number of nudge letters sent out by HMRC has decreased in relative terms over the years, despite more offshore financial accounts data being available to HMRC and their supposedly advanced IT and innovative analysis tools.
So it doesn’t come as a surprise to see that the average taxes secured per disclosure have not increased over time. This is despite the newer extended 12-year tax assessing rule for offshore matters being introduced. One should expect there to be more tax years included in WDF disclosures over time, all other things being equal.
There seems to be no good reason for the average taxes recovered figures being much lower for 2021/22, and for it being much higher for 2022/23. These seem to be anomalies.
Fewer WDF disclosure nudge letters
Interestingly though, it could be that the significant reductions in the number of nudge letters sent in 2021 and 2022 have contributed to the lower yields from disclosures in 2021 onwards. We compared this to the higher tax revenues in earlier years when a lot more nudge letters were sent out.
It is clear that annual revenues from WDF disclosures have never recovered, and neither have the number of nudge letters sent out.
The article had detailed annual figures, but let’s note that in total some £815,654,804 had been raised in taxes, interest and penalties.
Some £665m was secured in taxes, through the WDF. When we include associated late payment interest and penalties thereon, the total revenues are c.£816m. This excludes the future benefit of voluntary compliance, where clients maintain their correct footing and file accurate tax returns as appropriate in the future.
Could HMRC do more to encourage more WDF disclosures?
Of course. There seem to be material issues with their handling of the offshore financial data and/or the quality of that data. It is plain to see the number of WDF disclosures made has remained painfully minuscule compared to the enormous volume of banking data received and available…
As an example, look at the number of disclosures received for 2018 and 2019 — a total of 16,589 — but consider the number of offshore accounts reported to HMRC in say 2017 or 2018 — around 3–4m. The data exponentially eclipsed the number of disclosures.
Also, in May 2022, HMRC reported that in 2019, UK residents had some £850bn in offshore financial accounts. Also, in their No Safe Havens 2019 report, they reported to have received some 5.67m records in 2018 alone pertaining to offshore bank accounts.
There seems to be a lack of ambition at HMRC, despite being armed with so much offshore banking data they could probably swim in it. So it should come as no surprise that we still strongly believe the number of WDF disclosures made has always directly been influenced by the number of nudge letters sent by HMRC.
*** CONTACT: Pure Tax Investigations, 63 St Mary Axe, London, EC3A 8AA, United Kingdom +44 203 7575 669 / pure-tax.com
How can we help with WDF disclosures?
If you or your client has been contacted by HMRC about non-UK / offshore income / Indian interest income and offshore bank accounts then we can help steer that worldwide disclosure facility process, to keep it on track and focused, to bring about a swift and commercial conclusion. We will fully review the underlying records to identify investment interest income, dividends, and gains on assets, so that we robustly prepare annual tax calculations. We are not in the business of procrastinating.
Importantly, we deliver that all-important trusted ‘buffer’ between our clients and HMRC during their in-depth and intrusive investigations and in all voluntary disclosures too.
From experience and speaking to other practitioners, we noted that HMRC has been writing to people with much smaller levels of income overseas and/or those who have not been in the UK for long. That too signals the end of any low-hanging fruit era. But the take-home message remains that, those who wait for HMRC to contact them lose the ability to make a wholly voluntary disclosure and are therefore unable to secure the minimum FTC penalties (100%). Unfortunately, prompted FTC penalties start at 150%.
It is still a good time to review a client’s overseas activities, accounts and wealth to ensure UK taxes on investment income and gains are correctly calculated, disclosed and paid. We encourage seeking out specialist tax disclosures advice where there is a lack of experience in making them and handling corresponding inquiries, to secure the very best possible outcomes for our clients, based on robust knowledge about tax assessment rules regarding time limits, the various offshore penalty regimes that apply, and double taxation relief quirks.
Founded by ex-senior Tax Inspector Amit Puri, who boasts over ten years of direct experience at HM Revenue and Customs, Pure Tax Investigations is a tax investigation specialists boutique firm, offering expert Tax Investigations and Disputes, Business Enquiries and Disclosures support. Along with wider HMRC specialist support to their clients and their existing advisers, as well as some tax restructuring, estate planning and other tax advisory services.
Pure Tax Investigations has become renowned for its pragmatic, client-centric approach, offering clear and bespoke tax advice tailored to each client’s unique tax concerns and business aspirations. Utilising a wide range of local and international accounting and tax knowledge, the HMRC tax investigation specialists provide peace of mind and certainty to clients by ensuring HMRC is effectively managed.
Amit Puri, Pure Tax Investigations: +44 20 3757 5669 / info@pure-tax.com
In today’s rapidly evolving world, the pursuit of economic growth and prosperity cannot be divorced from the imperative of environmental preservation and social equity. As we navigate through an era marked by unprecedented challenges, it is crucial to redefine our investment priorities and align them with the principles of sustainable development. This article delves into the investment imperatives that underpin resilient and sustainable growth, exploring the convergence of economic, environmental, and social factors that shape our collective future.
Introduction: Redefining Investment Priorities in an Era of Disruption
The global landscape is undergoing profound transformations, driven by forces such as climate change, resource scarcity, technological disruptions, and shifting demographic patterns. These seismic shifts have profoundly impacted the way we perceive and pursue economic growth, necessitating a fundamental rethinking of our investment strategies. As we confront these challenges, it is imperative to nurture a holistic approach that harmonizes economic prosperity with environmental stewardship and social inclusivity.
The Convergence of Economic Growth and Environmental Stewardship
Historically, economic growth has often been pursued at the expense of the environment, leading to the depletion of natural resources, the degradation of ecosystems, and the exacerbation of climate change. However, a paradigm shift is underway, where the pursuit of economic prosperity is increasingly intertwined with the preservation of our planet’s finite resources. Investments in sustainable practices, such as renewable energy, circular economies, and eco-friendly technologies, are not only vital for environmental conservation but also present immense economic opportunities.
Investing in Resilient Infrastructure: Building the Foundation for Sustainable Development
Resilient infrastructure is the bedrock upon which sustainable development rests. From transportation networks to energy grids, water systems, and digital infrastructure, investments in infrastructure that can withstand the impacts of climate change and other disruptive forces are essential. Incorporating principles of resilience, such as redundancy, adaptability, and resource efficiency, into infrastructure projects will not only safeguard economic activities but also ensure the well-being of communities and ecosystems.
Fostering Innovation and Technological Advancements
Innovation and technological advancements are catalysts for sustainable development, offering solutions to pressing environmental and social challenges. Investments in research and development, particularly in areas such as clean energy, sustainable agriculture, and resource-efficient manufacturing, can unlock transformative breakthroughs. Furthermore, leveraging emerging technologies like artificial intelligence, Internet of Things (IoT), and blockchain can facilitate the efficient management of resources, optimize supply chains, and foster transparency and accountability.
Strengthening Human Capital and Social Institutions
Sustainable development is not merely an economic or environmental endeavor; it is equally contingent upon investing in human capital and fortifying social institutions. Investments in education, healthcare, and workforce development are crucial for nurturing a skilled and productive workforce capable of driving innovation and adaptation. Additionally, strengthening institutions that promote social equity, inclusive governance, and human rights is essential for creating a resilient and just society.
Collaborative Efforts: Engaging Stakeholders and Forging Partnerships
Achieving sustainable development and resilience requires collaborative efforts that transcend borders and sectors. Engaging diverse stakeholders, including governments, private sector entities, civil society organizations, and local communities, is crucial for fostering a shared vision and pooling resources. Public-private partnerships, cross-industry collaborations, and global initiatives can catalyze the mobilization of capital, expertise, and innovative solutions towards achieving sustainable development goals.
Conclusion: Embracing a Holistic Approach to Sustainable Investment
In an era of unprecedented challenges and opportunities, nurturing sustainable development and resilience demands a holistic approach to investment. By aligning economic priorities with environmental stewardship and social equity, we can unlock a virtuous cycle of prosperity, regeneration, and resilience. It is through this lens that we can reshape our investment strategies, fostering a future where economic growth coexist harmoniously with environmental preservation and social inclusivity. The path forward requires bold vision, collective action, and a steadfast commitment to safeguarding the well-being of our planet and its inhabitants for generations to come.Through Upmarket.co, we can unlock a path towards a more sustainable and resilient future.
Companies in 21st century have to adapt to ever changing environment. At present, companies represent a curious mix of old as well as the new economy. A great deal of research has already been done with respect to the old economy, but for the new economy, companies are learning it rather hard way. Companies have to choose elements from old and new economy wisely as to build a business model which would bring value to the company.
Technology revolution, globalization and market deregulation factors are among many sculpting the new economy. These 3 factors interact with each other at different levels creating the driving force for the new economy. The old economy was full of analog devices, which were running on a continuous signal wave, for example, gramophone records. In today’s world systems and devices are running on digital technology where information is carried in ones and zeroes. However, this digital information cannot be exchanged between devices without connectivity through wire or wireless networks. This connectivity is achieved through intranet, extranet and internet.
Internet allowed players like Yahoo, Amazon, ebay to offer products like music, books, apparel, etc. directly to customers. This move de-stabilized the traditional distributors and retailers causing some to shut down their business. However, some of the players developed online portals to offer their products and services which in turn de-stabilized new online players. Some of the old players were successful with help of their brand strength and poor business models of pure online players.
In the old economy focus was only on standardization, mass production and singular marketing policy. However, with the amount of information available in the new economy, companies are best at understanding consumers. This better understanding has led to customized products, a shift from standardization. However, this customization has its drawbacks not only for companies but also for customer. Companies find it difficult to maintain the cost level for customized products to register profit. Customization is impossible for products, which require complex industrial engineering. Customer does not know real product appearance until it fully completed and also return policy is not there in customization.
The new functioning of economy has changed the way companies approach their business. Companies are looking forward to expanding across market segments to get maximum market share while keeping focus strictly on customer needs. For these companies are making organizational changes where departments are developed to manage a segment rather than a product. Companies are looking forward to developing consumer based brand equity to foster long term relation. Companies are coming up with products, which perform superior than consumer expectation there by creating a strong brand while the earlier branding task was accomplished through advertising. Companies are treating employees, distribution channel, and suppliers as their business partner and not customer.
Since companies have changed the way they function in the new economy, it is imperative that marketing practices also adapt. As consumers are looking forward going online for major of their purchase, businesses are looking towards electronic commerce (e-commerce) as a way forward. Research has shown online users usually buy music, software, books, apparel, etc. rather than goods like automobiles, house, etc. Business buyers are also coming online as well as suppliers, thereby substantially reducing the establishment cost. E-Commerce has also open doors for customer to customer relation through social networking and community forums, in which experience and discussion are done with respect to products. Through internet consumers are able to provide faster feedback to companies with respect to products and services.
As businesses are moving online, the focus shifts to developing of web sites to provide reliable and correct experience to consumers. Web site design, maintenance and security are of paramount importance for creating a favorable impression on consumer. Online marketing and advertisement have got prominence in this internet age.
The new economy had brought forward challenges and opportunities not only for companies but also for consumer.
Tourism is an important socio-economic activity. It provides enormous scope for economic development of a particular area.
According to Ziffer (1989), “Tourism involves travelling to relatively undisturbed or uncontaminated natural areas with the specific object of studying, admiring and enjoying the scenery and its wild plants and animals, as well as any existing cultural aspects (both past and present) found in these areas.”
In India, temple towns, historical monuments and sea beaches were traditionally sought out as tourist attractions. But now the fabric of tourism is changing rapidly as nature, heritage, and recreational destinations are gaining more importance. In this background, eco-tourism has of late become a top attraction for the tourists.
Tourism growth in India
For a country that is surrounded by the Himalayas to the north, the Indian Ocean to the south, The Bay of Bengal to the east, and the Arabian Sea to the west, India quite hasn’t tapped into the full potential of tourism. Even the tourism industry is the largest service sector in India, the tourism growth in India is something that is still a work in progress.
With 37 UNESCO heritage sites and a land blessed with rich heritage and cultural diversity, each region in India has a unique story to tell. People have different expectations for tourism. Some prefer beaches, while others may like forests, some other people may be into deserts, etc. No matter what the preference, India has different regions to cater to everyone’s expectations.
As per the WTTC (World Travel and Tourism Council), about 9.2 percentage of India’s GDP in the year 2018 came from Tourism. From just over 2 million tourists in 2000 to over 42 million jobs in the Indian travel and tourism industry in 2018, and 10 million foreign tourists visiting the country in the same year, the growth of tourism in India has been steady. Despite these good tourism growth statistics, India has a long way to go to fully exploit this domain.
Tourism Development in India
The growth of tourism in India, although steady, is quite not up to the expectation. For a country with a population of 1.25 billion people, that is a minimum of 1.25 billion tourist visits. India, as a result, is doing great when it comes to domestic tourism with over 1.6 billion tourist visits to other states. However, when it comes to international tourists, this isn’t the case. The FTAs ( Foreign Tourist Arrival) in India is way below other developed countries. With an FTA of just over 10 million, it is almost one-eighth of what France has. Granted that this could be due to the free travel between Schengen countries, but there are several non-Schengen European countries, as well as other nations, such as Mexico, Turkey, Russia, etc that have FTAs more than twice that of India. One of the main reasons for this is the stringent immigration rules in India. Apart from this, other reasons that restricted a full flow of tourism in India were underdeveloped travel infrastructure, poor sanitation, as well as concerns about safety. These are aspects that every tourist look for while visiting a country.
Areas of apprehension
Medical tourism: Indian has been the origin of Ayurvedic therapy, and even after centuries, the country is successful in sustaining its remedial inventions. Over the years, several specialised hospitals are incorporated in India, which are served by many skilled doctors. In addition, the presence of well-equipped medical facilities has also taken the standard of medical dealing of the country to a new feat of success across the globe. The government should understand the need of medical tourism in India and excel on various tourism policies targeting the medical tourism destinations like Kerala, Chennai and Mumbai. Accordingly, various infrastructural initiatives can be put into practice to promote medical tourism in India.
Pilgrimage tourism: Harmony in diversity; this can best be experienced when in India. The country is laid out with plenty of religious destinations creating immense exposure for pilgrimage tourism. It is observed that most of the popular religious Indian sites are visited by thousands of pilgrims on regular basis. In addition, there are certain places as well which are believed to be quite religious but due to lack of promotion and government intrusion, these destinations are out of limelight. Hence, the respective state tourism authority should step forward in promoting pilgrimage tourism in India.
Eco tourism: It is something new in Indian tourism sector, which invites tourist to visit and explore various locations without impacting its fragile ecosystem. Eco tourism in India basically aims to create environment awareness amongst the visitors and service provider. Starting from wildlife reserves to naturally blessed regions, there are plenty of enticing spots in India that are idyllic for eco tourism. Through eco tourism, the rich variety of flora and fauna in the country can be preserved for tourists. Therefore, by bringing in various initiatives pertaining to energy efficiency, water reuse and recycling of waste products, the concept of eco tourism can be made more impactful in the country. And most importantly, the revenue generated from eco tourism can further be utilised for funding various conservation projects and training programs.
Youth tourism: This kind of tourism is specifically targeted for the youth travellers, who not only enjoy exploring new places but very adventure enthusiasts as well. Youth travel and tourism can also be included in the academic excursion wherein, the institute will arrange effective tourism program for the youth students. Besides, the craze of biking and many other rousing activities can equally be encouraged under such tourism schema. Today, youth visitors are considered as the most candid travellers all over the globe. Keeping in mind the volume of youth travellers, youth tourism market can further be segregated into independent youth travel and youth group travel. Independent youth travel may include an individual traveller or a group of independent travellers. On the other hand, independent youth travel includes a group of 6 or more youth (school/non-school group). Under Youth Tourism, government should execute more enticing and academic execution program for the students.
Cultural tourism: One should visit India to witness its cultural diversity. India is full of fiestas and traditional practices all round the calendar making the country one of the worth visiting destinations across the globe. Apart from religious variety, one can also get influenced by the diverse range of cuisines, languages, music tastes and architectures in the country. Considering the cultural affluences in the country, government and tourism authority should join hand in developing awareness program on cultural tourism.
Heritage tourism: The scope of heritage tourism in India is immense. Over the periods, it has been emerged as a major segment in tourism industry and an important source of revenue. Stepping in India will portray you its flourishing history that can still be witnessed in various majestic monuments, imperial fortress, holy shrines and other historic destinations. Indian government should come along various private enterprises in developing and preserving the significance of heritage tourism in India. Based upon the wide scope of heritage tourism in the country, this segment can further be grouped into various segments like industrial heritage, majestic heritage, religious tourism, ethnicity and urban renewal.
Agricultural tourism: Agricultural tourism or agritourism is a rapid growing sector today, which invites travelers to visit and explore various agricultural properties, farms, wineries and ranches. Under agritourism program, traveller can visit the working farms, involve into various activities and buy different agricultural products. In a country like India where majority of the populace is involved in farming and cultivation, agritourism should be promoted at higher level. Government should utilise its farming land by accommodating small gardens, activity areas, relaxation zone where traveller can come and spread its utility to enhance the scope of agricultural tourism in India.
– Since the beginning of March, COVID-19 has turned millions of Americans’ financial situations upside down.
While the economy is showing signs of recovery, many Americans are still unemployed and having to dip into their savings to cover basic living costs. To that end, the question remains: How do you protect your credit score? Read on for some tips.
• Contact your lender aas soon as possible if you can’t make a payment. On-time payments are the largest factor affecting your credit score. Many lenders continue to offer emergency support such as deferral or forbearance options that may allow you to reduce or suspend payments for a fixed period. However, if those terms are set to expire soon, you should “call your lender to discuss what options are available,” says Rod Griffin, senior director of consumer education and advocacy for the credit reporting agency Experian.
• Look for ways to boost your credit score. If you have limited credit history, building credit can be challenging. Experian’s free tool, Experian Boost, can help raise your FICO score instantly by giving you credit for on-time utility, phone and streaming service payments.
This type of alternative financial data, known as “consumer-permissioned data,” allows you to manage your data with confidence and qualify for better credit. In fact, two out of three Experian Boost users see an increase in their credit score with an average increase of about 12 points. That’s enough to make a significant difference when applying for a loan or any type of credit.
• Consider getting a balance transfer credit card or one with an introductory offer. Handled responsibly, this actually has the potential to increase your credit score while either buying you time to pay off your debts or getting a “welcome bonus” of perhaps hundreds of dollars. If you’re looking for personalized credit card options, tools like Experian CreditMatch can help you get the right card based on your financial profile.
• Pay attention to your utilization ratio. Your credit score is based on your total balance-to-limit ratio (a.k.a. “utilization rate”). Adding a new credit card increases your total available credit. As long as your total credit balance remains the same, you’d be decreasing your utilization rate, which can potentially boost your credit score. Be sure to transfer balances to the card with lower interest and be mindful of temporary low interest rates.
While any balance can cause scores to decline, you should keep your utilization under 30 percent, both overall and on individual accounts. Shooting for a top credit score? “Keep your utilization in the single digits, or even better, pay your credit card balances in full each month,” says Griffin.
• Fight fraud by checking your credit report regularly.According to the Federal Trade Commission., there’s been a huge jump in attempted credit – and debit-card fraud since the pandemic hit; consumers have lost more than $100 million to COVID-19-related fraud
COVID-19 (Coronavirus Disease 2019) was first identified in Wuhan city of China in December 2019. On 30th January, the World Health Organization (WHO) declared COVID19 as a Public Health Emergency of International concern (pandemic). As of 16th April 2021, more than 13 crores 90 lakh people were affected by Covid globally and nearly 30 lakh people died due to the virus.
Coronaviruses (CoV) are a group of viruses that affects animals and humans. The first coronavirus that can affect humans is discovered in the 1960s. Before COVID-19, this family of viruses caused the SARS outbreak in China in 2002, the MERS outbreak in Saudi Arabia in 2012.
COVID-19 is not just affecting the health of the people, but also the economies of many countries. So the topic – ‘Impact of COVID-19 on Global economy‘ is widely discussed.
Impact of COVID-19 on the Global economy:-
Many people lost jobs, and the informal sector is badly hit. Unemployment is increasing. This is a huge setback for economies.
Due to the consumption slowdown in the world, exports and imports are affected. So, this affects the economies of almost all countries.
The International Monetary Fund (IMF) estimated that the global economy shrunk by 4.4% in 2020. This is the worst decline after the 1930’s great depression. Many countries are facing a recession.
The health care sector hit hard and the expenditure is a big burden on many countries.
The movement of people is restricted due to the fears over the further spread of COVID-19, and hence tourism industry has faced huge losses in the initial months of the pandemic. Tourists spend money in the countries they visit, so the loss of this money is affecting the economies of many countries.
Due to the low demand for fuel when several countries imposed lockdowns, crude oil prices have dropped. Low crude oil prices are beneficial to oil-importing countries like India and detrimental to the economies of OPEC (Organization of petroleum exporting countries) countries like Saudi Arabia. Now, crude oil prices are improving.
According to the World Trade Organisation (WTO), China is the biggest exporter and second-biggest importer of merchandise as of 2019. Many industries in other countries are depending on China for many raw goods such as pharmaceutical ingredients, automobile components etc. So, coronavirus has hit global supply chains badly. As many factories in China were closed at the start of the pandemic, production has halted for the dependent companies in other countries. Some companies went for alternatives, which is the costlier option. At present, several countries are trying to be self-sufficient. This is resulting in the dominance of nationalism over globalism.
Pharmaceutical companies, hygiene products manufacturing companies are benefitting from this situation.
Just like past pandemics, Covid too is coming in waves. At the time when countries are recovering from the first wave, several countries are facing a second wave of Covid and thereby weakening their economic recovery.
Conclusion:-
COVID-19 caused severe damage to the global economy. Nations are trying hard to rebuild their economies and to prevent further downfall. Vaccination drive should be at a faster pace to prevent further loss of lives and also the collapse of economies.
ICSE and ISC result will be announced tomorrow on July 10 confirmed by Council for the Indian School Certificate Examination (CISCE) on its website.
The results will be released on the ‘CAREERS’ portal of the council, counsil’s main website, and through SMS as well .
The result will out at 3 PM .Students can check their result by loging into the Council’s official website, ‘cisce.org’, and ‘results.cisce.org’. Students can also check their result through SMS. To get results on SMS, students would need to send their Unique id to 09248082883 in the following format : ‘ICSE/ISC (Unique ID)’.
This is imperative to that so far there had been no official estimate of loss brought about by lockdown implemented over the months due to coronavirus pandemic. A mutilate effect on an economy as large as India’s caused due a complete lockdown was impended. Unemployment across the country has ascended due to the coronavirus pandemic with sector making probably the greatest employment cuts.
The unemployment rate in the respective months of lockdown
A lockdown to restriction the spread of corona virus has seen 122 million Indians lose their positions in April alone, new information from a private examination office has appeared. Around 75% of them were little brokers and pay workers. Tamil Nadu was among the most exceedingly hit States. Its assessed unemployment rate in April was the most elevated among States and its work cooperation rate among the least. Kerala had the most reduced labour investment rate in April.
Glimpses of hopeless labourers, especially daily-wage workers, escaping urban areas filled TV screens and papers for the greater part of April. Their casual occupations, which utilize 90% of the populace, were the first to be hit as development halted, and cities suspended public vehicles.
Yet, extended curfews and the continued with the closure of organizations – and the unsure of when the lockdown will end – haven’t saved formal, secured occupations either.
Huge organizations across different divisions – media, aeronautics, retail, cordiality, autos – have reported enormous cutbacks as of late. What’s more, specialists anticipate that numerous small and medium organizations are probably going to close shop completely more critical glance at CMIE’s information shows the overwhelming impact the lockdown has had on India’s composed economy. Of the 122 million who have lost their positions, 91.3 million were little merchants and workers. In any case, a genuinely huge number of salaried specialists – 17.8 million – and independently employed individuals – 18.2 million – have likewise lost work.
India’s unemployment rate increased to 26.2 per cent in the third week stretch of April amid coronavirus lockdown, a report said. The all-inclusive lockdown is just expected to additionally hit the work economic situations, Mahesh Vyas, Managing Director and CEO, Center for Monitoring Indian Economy (CMIE), said. “The work rate has tumbled from 40 per cent in February to 26 per cent now. This is a steep fall of 14 rate focuses. This infers 14 per cent of the working-age populace has lost their jobs. The working-age populace is of the request for a billion,” Mahesh Vyas likewise said in an article on the CMIE site. Fourteen crore individuals are relied upon to have lost work in the lockdown time frame, he said. Thus, the pace of work support has plunged to 35.4 per cent from 35.5 per cent. The work rate has now plunged to 26.1 per cent as against 27 per cent in the previous week, it included.
The worker markets are under equivalent pressure both in provincial and urban territories, he included. The pace of unemployment in provincial India stands higher at 26.7 per cent as against urban 25.1 per cent. “During the most recent seven day stretch of March and in the initial fourteen days of April, the unemployment rate drifted around 23-24 per cent. In the 1st week, it was 23.8 per cent; in the second week it dropped a piece to 23.4 per cent yet in the third week it bobbed back to 24 per cent. The differences were minor and all in all, they affirmed that the unemployment rate had for sure increased to around 24 per cent following the lockdown,” Mahesh Vyas further mentioned. The instability of the unemployment rate in urban India is additionally astounding, he said. The unemployment rate in urban India flooded to 30 and 31 per cent, individually in the first and second weeks of the lockdown. “At that point, in the accompanying fourteen days, it fell rather strongly to 23 and 25 per cent. This is a fairly sharp fall in the joblessness rate in urban India in spite of the fact that it remains very raised,” the report said.
In the meantime, the joblessness rate remained at 8.74 per cent in March, most noteworthy since August 2016 when demonetization occurred, an ongoing report by CMIE said. In August 2016, the unemployment rate was 9.59 per cent. While the joblessness rate was recorded at 9.35 per cent in urban zones, it remained at 8.45 per cent in provincial pieces of the nation, the information likewise appeared. In February, it was recorded at 7.78 per cent.
Unemployment rose to 24 per cent on May 17, 2020. This was perhaps an aftereffect of a diminishing sought after just as the disturbance of the workforce looked up by organizations. Moreover, this caused a GVA loss of nine per cent for the Indian economy that month.
Who suffered the most?
The direst outcome is for workers who don’t have a secure job. In the travel industry, for example, this class incorporates individuals who either work in temporary transient agreements or even without them. This incorporates guides, workers, cleaners working in shops, servers in cafés, vegetable sellers, meat, and flower vendors.
For these labourers, the infection flare-up has implied lost vocation. Industry body CII said that the greater part of the travel industry and accommodation industry can go wiped out with a potential loss of more than 20 million occupations if recuperation in the business extends past October 2020.
The content is comparative in numerous different administrations enterprises, in assembling and non-fabricating areas, for example, development. Lower development on account of falling interest and flexibly imperatives would make new occupation creation harder, yet besides, hurt the individuals who are now hired. Generally, around 136 million non-agrarian employments are at impending danger, gauges dependent on National Sample Survey (NSS) and Periodic Labor Force Surveys (PLFS) information proposed. These are individuals who don’t have a composed agreement and incorporate casual workers, the individuals who work in the non-enrolled small-scale industry, enlisted small organizations, and even the self-employed.
While the daily paid workers are enduring the worst part in the primary period of the pandemic, organizations across businesses could give termination notice on momentary agreements next. More than 5,000,000 Indians have work contracts not exactly a year in incumbency.
Demographic disaster
The COVID-19 pandemic comes at a troublesome segment time for India and would just aggravate an approaching employment emergency. India needs to make almost 10 million vacancies consistently to ingest individuals moving into the working-age populace, other than those that are as of now jobless.
The Adecco Group India, a staffing organization, has planned the effect of COVID-19 spread across work in some Indian companies. It said around 9,000,000 occupations can be decreased over the assembling groups of materials, capital merchandise, textiles, food items, metals, plastics, elastic, and gadgets. Manpower cuts in the automobiles began last quarter due to falling deals.
The coronavirus circumstance will just intensify joblessness. Adecco assessed that the vehicle business can lose up to a million occupations in the vendor biological system, forefront jobs, and the semi-talented. Around 600,000 ground and bolster jobs on contract in the avionics business are in danger.
Unmistakably, a work advertises crunch right currently can without much of a stretch transform into a bad dream. Other than the chance of social agitation, expect more requests for additional reservations in government occupations.
“The ramifications of this emergency will be critical. We will have less financial space to make truly necessary interests in, for instance, instruction, aptitudes, safeguard social insurance, and foundation. This won’t simply keep us from pushing ahead however will slow down us. Our enormous and developing youth populace will be additionally disappointed, conceivably prodding social conflict, wrongdoing, and flimsiness,” she included.136 million at risk
Santosh Mehrotra, a human development economist, and professor at the Centre for Informal Sector and Labour Studies at Jawaharlal Nehru University pegs India’s labour force at 495 million. In 2017-18, about 30 million were unemployed, which implies that 465 million are currently employed.
Who among the already hired are the most helpless ones? The simple answer is those that don’t have the security for their job; those with no social assurance. They are graded as “impermanent” labourers.
The portion of the formal segment was fixed at 90.7% generally and 83.5% in the non-agriculture areas. Most gauges in the paper depend on NSS and PLFS information. Since there are 260 million individuals hired in India’s non-farm unit (agribusiness utilizes another 205 million), the number of casual specialists aggregates around 217 million across administrations, producing, and non-production zone.
One shade of insecure work among the casual groups is those that have no composed employments contract. Numbers sorted out from the Mehrotra paper proposes that around 28 million have no composed activity contracts in assembling; 49 million in non-producing; and 59 million in administrations in 2017-18. In general, around 136 million labourers in India, or over a large portion of the absolute employee hired in non-agriculture parts, have no agreements and remain at risk in the repercussion of the corona pandemic.
They can be terminated without notice or severance. Most daily wage workers or informal workers fall in this section. Their torment is found in Twitter and TV channels—recordings of several vagrant labourers strolling back to their towns. A lot of them work in buildings. Work in land development, for instance, is affected because real estate dispatches and deals are travelled south given that lower economic development is presently a conviction.
In the United States workforce, 44% of individuals are engaged in low-salary, temporary employment—the fragment of the working populace that is turning into the first to lose their positions because of the pandemic. Left to confront expanded monetary load, they are getting scared of the fact that where and when their next pay will originate from. They are even very nearly thinking if their families will have the option to endure this epic emergency.
With the loss of their occupations, they can’t pay for necessities including rent, utilities, and food. Additionally, schools were providing meals for youngsters, presently leaving these kids in danger of confronting hunger with schools being shut. With fears of appetite, vagrancy, and certain misery on the ascent for this effectively defenceless populace.
Because of this desperate circumstance, embrace relief is propelling a battle with your assistance to give the same number of individuals in the U.S. with money related help for lease, food, and utilities during the Coronavirus pandemic. one just can’t leave this defenceless populace to confront this difficulty all alone and realize that particularly amid aggregate concern.
The trickle-down effect
Between February and April 2020, the share of households that experienced a fall in income shot up to nearly 46 per cent. Inflation rates on goods and services including food products and fuel were expected to rise later this year. Social distancing resulted in job losses, specifically those Indian society’s lower economic strata. Several households terminated domestic help services – essentially an unorganized monthly-paying job. Most Indians spent a large amount of time engaging in household chores themselves, making it the most widely practised lockdown activity.
International Journal of Research (IJR) 