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Title: GDP, Unemployment, Government Expenditure in Bangladesh: Testing the Relevance of Okun’s Law

Abstract: This study examines the dynamic relationship among Gross Domestic Product (GDP), unemployment, and government expenditure in Bangladesh from 2010 to 2025. The analysis highlights a period of robust economic performance, with GDP growth consistently averaging above 6%, driven primarily by manufacturing, garment exports, and the service sector. Despite the significant disruption caused by the COVID-19 pandemic in 2020, which saw growth dip to 3.45%, the economy demonstrated structural resilience and a rapid recovery. Concurrently, government expenditure has expanded significantly as a fiscal tool for development, particularly through large-scale infrastructure projects and social safety nets. Public spending rose from BDT 1,217 billion in 2016 to over BDT 2,218 billion by 2025. However, this expansionary stance has not fully addressed labor market inefficiencies. Unemployment has remained relatively stable between 3% and 5%, suggesting that the link between GDP growth and job creation is weak, thereby offering only limited support for Okun’s Law in the Bangladeshi context. The study identifies persistent structural challenges, including high youth unemployment and skill mismatches, and concludes that inclusive growth policies and labor market reforms are essential to translate macroeconomic gains into sustainable employment generation.

By S.K.S. Yadav, Imran Hosen, Dhwani Gupta
In Volume: 15,Issue: 1
Title: Mediation as a Transformative Mechanism in Insolvency Resolution Under the IBC: Emerging Dimensions Under the Mediation Act, 2023

Abstract: The Insolvency and Bankruptcy Code, 2016 (IBC) was enacted to ensure time-bound insolvency resolution, maximisation of asset value, and balancing of stakeholders’ interests. Nevertheless, increasing procedural delays, adversarial litigation, and mounting pendency before the National nyny Law Tribunal (NCLT) have diluted the efficiency of the insolvency framework. In this evolving context, mediation has emerged as a constructive and commercially viable mechanism capable of harmonising creditor-debtor relations while preserving enterprise value. The enactment of the Mediation Act marks a significant legislative shift towards institutional and pre-litigation mediation in India’s dispute resolution architecture. This paper critically examines the growing interface between mediation and insolvency law in India with special reference to recent developments under the IBC regime. It analyses how consensual dispute resolution can supplement the rigid adjudicatory model of insolvency proceedings, particularly in operational debt disputes, inter-creditor disagreements, avoidance transactions, and pre-packaged insolvency mechanisms. The study further evaluates the Insolvency and Bankruptcy Board of India’s proposal permitting operational creditors to opt for mediation prior to initiating proceedings under Section 9 of the IBC, thereby institutionalising a culture of negotiated settlements within insolvency jurisprudence. The paper argues that mediation can substantially reduce litigation costs, preserve business continuity, maintain commercial relationships, and decongest insolvency tribunals without undermining the objectives of the IBC. It also explores the compatibility of mediated settlements with the principles of creditor autonomy, procedural fairness, and economic efficiency. By examining comparative global practices and contemporary Indian reforms, the paper concludes that mediation represents not merely an adjunct remedy but a transformative jurisprudential tool capable of reshaping insolvency governance in India from adversarial resolution to collaborative restructuring.

By Ashok Kumar Sharma
In Volume: 15,Issue: 1
Title: Climate Change, Security Dilemmas, and Power Transitions: India–Europe Perspectives on Global Stability

Abstract: Climate change has become a critical driver of contemporary security challenges, reshaping geopolitical alignments and intensifying security dilemmas in an increasingly multipolar international order. This paper examines the climate–security nexus from India–Europe perspectives, highlighting how climate-induced risks—such as extreme weather events, resource scarcity, displacement, and threats to critical infrastructure—act as threat multipliers that exacerbate existing conflicts and complicate global stability. From the European perspective, climate security has gained strategic significance in the aftermath of the COVID-19 pandemic and the Russia–Ukraine war, which exposed vulnerabilities related to energy dependence and supply-chain disruptions. Consequently, Europe increasingly integrates climate action with energy transition, strategic autonomy, and foreign policy objectives. In contrast, India approaches climate security through the lens of development, resilience, and equity, prioritizing adaptation, energy access, and disaster preparedness while emphasizing differentiated responsibilities in global climate governance. The paper argues that these differing priorities generate security dilemmas in areas such as clean energy competition, access to critical minerals, climate finance, and technological standards. At the same time, expanding India–Europe engagement through green technology cooperation, resilient supply chains, and inclusive climate governance offers opportunities to mitigate climate-related security risks. The study concludes that strengthened India–Europe cooperation is essential for managing climate-driven insecurities and contributing to global stability in an era of accelerating environmental and geopolitical change.

By Dimple Chaudhary
In Volume: 15,Issue: 1
Title: The Role of Artificial Intelligence in Digital Transformation: opportunities, challenges and Future Directions

Abstract: Artificial Intelligence (AI) has emerged as a transformative force that is redefining the way organizations approach digital transformation. By enabling intelligent automation, advanced data analysis, predictive decision-making, and personalized customer experiences, AI has become a key driver of innovation and organizational competitiveness. Despite its growing adoption, organizations continue to face several challenges, including ethical concerns, data privacy issues, cybersecurity risks, workforce adaptation, and implementation costs. This study examines the role of Artificial Intelligence in digital transformation by synthesizing evidence from recent academic literature, industry reports, and credible institutional publications. The paper adopts a qualitative approach based on secondary sources to explore how AI contributes to organizational transformation across different sectors. The analysis highlights that successful digital transformation depends not only on technological adoption but also on organizational readiness, effective leadership, employee capabilities, and responsible governance. The study further discusses the opportunities created by AI, the barriers affecting its implementation, and the future directions that can support sustainable digital transformation. The findings provide valuable insights for researchers, business leaders, and policymakers seeking to understand the evolving relationship between Artificial Intelligence and digital transformation in the modern business environment.

By S.K.S. Yadav, Kavita
In Volume: 15,Issue: 1
Title: Impact of Digital and Social Media Advertising on Millennial Consumers

Abstract: Generation Y, commonly identified as Millennials, comprises individuals born between 1981 and 1996. Characterized by profound digital immersion and technological proficiency, this cohort has been significantly influenced by the pervasive expansion of social media. Consequently, social media advertising has emerged as a formidable catalyst in shaping their purchase intentions, consumption patterns, and brand preferences. The present study investigates the multifaceted influence of social media advertising on the buying behaviour of Generation Y consumers within the contemporary digital marketplace. The findings unequivocally demonstrate that social media advertising exerts a profound influence on the lifestyle orientations, consumption behaviour, and purchase decision-making processes of Generation Y consumers. The ubiquitous proliferation of digital platforms such as Instagram, Facebook, YouTube, WhatsApp, and X (formerly Twitter) has fundamentally reconfigured the dynamics of consumer–brand interaction. By facilitating instantaneous access to comprehensive product information, authentic consumer reviews, algorithmically curated recommendations, and influencer-generated endorsements, social media advertising substantially shapes consumer perceptions, reinforces purchase intentions, and cultivates enduring brand predispositions within the contemporary digital ecosystem. The study further highlights that Generation Y consumers actively engage with digital content and rely heavily on online reviews and peer recommendations before making purchases. Businesses and marketers can therefore better understand consumer expectations and design effective advertising strategies to attract and retain this segment. The research concludes that social media advertising has become an essential marketing tool influencing Generation Y’s buying behaviour in the modern digital economy.

By Swati Agarwal
In Volume: 15,Issue: 1
Title: Financial Performance Evaluation of NSE AND BSE: A Comparative Assessment of Revenue Structure, Operating Efficiency, and Profitability (2020–2025)

Abstract: Stock exchanges play a crucial role in today’s financial systems by providing platforms for raising capital, enhancing market liquidity, and fostering economic growth. The National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) in India have witnessed a sea change in the last decade due to technological advancements, regulatory reforms and increasing retail participation. They are regulated in the same way but differ in their revenue models, operating efficiencies and profitability. The present study has made a comparative analysis of the financial performance of NSE & BSE for the period 2020-2025 with the help of secondary data collected from the annual reports & financial statements. Various approaches such as trend analysis and comparative ratio analysis are studied for key performance indicators such as revenue growth, operating margin, and return on equity. Initial results show NSE is operationally more efficient and profitable mainly due to its dominance in the equity derivatives and technology-based product market. By contrast, BSE has focused on innovations in SME listings and mutual fund platforms, but its scale is small. This research adds to the literature on financial market infrastructure by providing insight to regulators, investors and researchers.

By Shamshad Khan, Arvind Kumar Yadav
In Volume: 15,Issue: 1

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