Network Roundup April 2020

22-04-2020

 

Read this month’s update on trade and sustainability topics, with on the ground analysis from our international network.

India

Natasha Majumdar
Network Representative, India

Effects of COVID-19 Restrictions in India 
On 15 April, Prime Minister Modi announced the extension of country-wide lockdown in India until 3 May. So far, movement and business operation restrictions during the lockdown has severely affected India’s food supply chain.

While no official stimulus package has been communicated, the Reserve bank of India (RBI) reduced reverse repo rate to 3.75% with immediate effect to make lending cheaper.

India’s dependency on Chinese value chain has greatly affected the country’s supply chain in textiles, automobiles, and pharma industries.

The Centre on Sunday issued guidelines for the movement of labourers within a state to facilitate partial resumption of select economic activities outside coronavirus hotspots from Monday but ruled out any inter-state travel.

 

France

Sylvie Thonnerieux

Network Representative, France

An Evaluation Report on France’s Duty of Vigilance Law was commissioned by the Minister of Economy and Finance. The report analyses the problems that have arisen from the application of this law and formulates five suggestions for France’s policymakers:

Duty of Vigilance Law Three Years On

  1. include additional types of corporations in the scope of the law (Société en nom collectif and Société à responsabilité limitée)
  2. charge a public authority with the responsibility to promote the duty of vigilance, with access to data that is not available to the public
  3. carry out a careful review with the Administration to measure the need to clarify certain elements of the law and thus reduce uncertainties
  4. promote sectorial and multi-party approaches to harmonise the best-practices
  5. call for the EU to adopt a similar legislation, coincidentally with the amendment (review) of the Non-financial Reporting Directive to integrate these obligations

Read the full article.