India’s trade deficit with China nears record $30 b
December 17, 2013
As per the data released by the China’s General Administration of Customs,India’s trade deficit with China after 11 months of this year has reached a record $29.5 billion, exceeding 2012’s annual figure. Towards the end of 2013, India’s exports to China reached only $14.87 billion out of total bilateral trade of $59.24 billion.
The numbers underline the sharp decline in once-burgeoning trade, which reached $74 billion in 2011 when China became India’s biggest trading partner.
In 2012, India’s the trade deficit with China registered a 10% decline to reach 66.50 billion dollar, even as both the countries announced an ambitious 100 billion trade target to be achieved by 2015. The decline was partly the result of 20% slump in India’s exports, largely on account of iron ore mining bans by China and partly on account of global slowdown.
What is Trade deficit?
An economic measure of a negative balance of trade in which a country’s imports exceeds its exports. A trade deficit represents an outflow of domestic currency to foreign markets.
The National Green Tribunal (NGT)banned “unregulated open burning” of plastic, rubber or such other articles across the country. NGT directed all the municipal authorities to ‘set up, operationalise and coordinate the waste management systems within their limits
All the plastic waste/scrap dealers and/or recyclers including the members of the PVC and Plastic Waste Dealers Association, respondent herein, shall be bounded from carrying on their business of separatism of plastic waste and its eventual transfer to recyclers or disposal contrary to and without registration under the Plastic Waste (Management and Handling) Rules, 2011.
The NGT’s judgment came on a plea alleging illegal burning of plastic, rubber and related waste in various villages in North and North West Delhi.
About National Green Tribunal
National Green Tribunal Act, 2010 (NGT) is a federal legislation enacted by the Parliament of India, under India’s constitutional provision of Article 21, which assures the citizens of India the right to a healthy environment. The tribunal itself is a special fast-track court to handle the expeditious disposal of the cases pertaining to environmental issues.
Sergio Perez joined Sahara Force India with multi-year deal for 2014 F1 season
December 16, 2013
MexicanFormula Onedriver Sergio Perez signed a multi-year contract with the British-based team Sahara ForceIndia. The 23-year-old Mexican completes Sahara Force India’s 2014 line-up alongside Nico Hülkenberg and helps to create one of the most exciting pairing on the grid.
The 2014 Formula 1 grid line up of many teams are taking shape, such as:–
Red Bull: Sebastian Vettel and Daniel Ricciardo,
Ferrari: Fernando Alonso and Kimi Raikkonen,
Mercedes: Lewis Hamilton and Nico Rosberg,
McLaren: Jenson Button and Kevin Magnussen,
Force India:Nico Hulkenberg and Sergio Perez, etc.
About Sergio Perez
Member of the FerrariDriverAcademy till 2012 and took his first Formula One podium at the 2012 Malaysian Grand Prix
Previous teams: McLaren, Sauber
In December 2013, Force India signed Perez in a 15million Euro deal.
Note:Sahara Force India Formula One Teamis a Formula One racing team based in Silverstone, United Kingdom which currently holds an Indian license. The team was formed in October 2007 when a consortium led by Indian businessman Vijay Mallya and Michiel Mol, bought the Spyker F1 team for € 90 million.