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In the recent international scenario, the rise of emerging economies, in particular, Brazil, Russia, India, China and South Africa (BRICS) has gained ample of attention. The global trade flows of the BRICS countries have significantly increased during the last one-and-a-half decade. The purpose of this paper is to examine the intra-BRICS and BRICS–EU trade flows.

To study the intensity of trade among BRICS countries and with EU, the Trade Intensity Index is employed for the period 2001–2015. Balassa’s revealed comparative advantage (RCA) index is computed for the assessment of comparative advantages of exports by BRICS countries in the year 2015 in the global markets. A comparative analysis of export similarity is done for India and other BRICS countries in EU.

The findings of trade intensity showed large bilateral trade flows among BRICS member. Russia has emerged as the main trading partner with EU in BRICS. For the year 2015, the comparative study of RCA at HS-two digits and HS-four digits classification highlights marginal structural changes in the export composition of these countries. The analysis revealed that Brazil and Russia have comparative advantages in natural resource-based products, while India and China possessed comparative advantages in manufactured and processed products. The export similarity index shows the presence of competition between India and China in EU.

This paper highlights the need for closer cooperation to promote intra-BRICS trade and to make structural transformations in the basket of trading products by them to have trade benefits at large.

Numerous studies are available on bilateral trade of BRICS members. However, limited studies are available to get a holistic view of intra-BRICS trade. This paper is an attempt to examine the BRICS countries trade profile both at global levels and within the group.

In the last 10 years, India has amended its laws dealing with sexual offences against women with the changes ranging from increasing terms of imprisonment for the offence of rape to state-funded compensation schemes for women and child victims. In this regard, challenges persist for the agencies of the criminal justice system in India especially the courts to realise the vision of restorative justice as these forums have to navigate the relevant statutory provisions and binding precedents. This chapter seeks to analyse the challenges faced by courts in proper reintegration of victims and offenders of sexual offences, the institutional responses of the courts and suggests reforms to the criminal justice system in India in consonance with the principles of restorative justice acknowledged in the restorative justice movement in the international discourse.

The purpose of this paper is to illustrate the use of a post hoc predictive segmentation procedure to find out the variables that are the most important predictors of investor's preference for specific financial investment products.

The study considers various demographic, socio‐economic and psychographic variables for the purpose of understanding the investor's preferences. Using a sample of individual investors (n=377), a classification and regression tree (CART) methodology was used to determine whether psychographic variables were better predictors than demographic and socio‐economic variables for understanding an individual investor's preference for the investment alternatives.

The results showed that psychographic variables emerged as the most important predictors in the case of investment products with greater degree of risk, and the demographic and socio‐economic variables emerged as the most important for the investment instruments with lesser degree of risk. However, when the sample was divided based on occupation profile (government and non‐government), for both the fixed returns based instruments and the non‐fixed instruments, psychographic variables emerged as the most important predictors.

These results show the need for financial service providers to consider the psychographic variables along with demographic and socio‐economic variables, so as to better understand and advise the financial consumers. This would enable the financial service institutions to target their audience more sharply, so as to develop appropriate marketing strategies and further build the investor's trust.

This paper is a first of its kind to empirically identify the most important variable that determines the financial consumer's preference for investment products in India, using CART technique. This study contributes to furthering the understanding of investor behavior.

The purpose of this paper is to report a study on analysis of barriers for cyber-physical system (CPS) adoption in small and medium enterprises (SMEs).

In Industry 4.0 scenario, Indian SMEs are struggling to bring their manufacturing processes in line with large manufacturing sector. CPS is considered as the backbone of Industry 4.0, and its implementation in SMEs will make significant changes pertaining to manufacturing automation. However, due to the lack of a proper CPS implementation strategy, SMEs face many challenges in its adoption. Hence, this study identified 18 possible barriers and seven performance measures pertaining to CPS adoption in Indian SMEs. Interpretive ranking process (IRP) is used to develop the contextual relationships among CPS barriers. IRP process include structured step-by-step matrix-based approach in which dominance among various alternatives is determined using performance measures developing a structured ranking model.

The developed IRP model revealed that CPS barriers “Lack of skilled manpower (CPSB2)” and “Lack of robustness with respect to environmental conditions in automotive environments (CPSB7)” are the most significant barriers (top two) hindering CPS adoption in SMEs.

In the present study, barriers for CPS adoption has been analyzed. In future, barriers for adopting other Industry 4.0 technologies could be analyzed.

The present research work is one of the few studies which analyzed CPS barriers in SMEs and provided improvement suggestions to the most significant barriers for its smooth adoption. The managerial and practical implications have been derived.

The analysis of barriers for CPS adoption in SMEs is the original contribution of the authors.

The manufacturing domain presently focusing on Industry 4.0 (I4.0). One such domain is the automotive sector. The purpose of this study is to analyse the I4.0 research studies with a focus on the automotive sector using a systematic literature review (SLR).

This paper presents a SLR of previous studies on I4.0 characteristics from its inception to performance measures focusing on the automotive sector. A total of 90 papers published in reputed journals during 2014–2020 were collected from major publishers, namely, Elsevier, Springer, Taylor and Francis, Emerald, Institute of Electrical and Electronics, MDPI, etc.

The findings of the study provided vital insights on various perspectives of I4.0 in an automotive organization. Moreover, this systematic analysis would help the automotive industry policymakers in implementing I4.0 in an organization. Based on the SLR, a conceptual framework is established to guide industry practitioners towards I4.0 implementation. The review findings could be used to carry out future studies in assessing the readiness of I4.0 in the organization with the help of a survey.

The limitation of the study is in the adoption of the sampling approach. In the present study, conference papers and refereed journals have been considered based on the relevance of I4.0 in the automotive industry. As I4.0 is a growing concept, non-refereed articles, book chapters and white papers may cover practical aspects regarding I4.0 implementation that need to be considered for depth analysis. Moreover, the framework needs to be validated with various automotive industries for ensuring practical validity.

The unique contribution of the study is the SLR of I4.0 in manufacturing with a focus on the automotive sector.

This study examined the factors influencing willingness-to-repurchase for each class of airline service, and integrate the constructs of service quality, satisfaction and willingness-to-repurchase which were rooted on Engel-Kollat-Blackwell (EKB) model. The study focuses on the domestic and international arrival of passengers at Murtala Muhammed International Airport in Lagos and Nnamdi Azikwe International Airport in Abuja. Information was gathered from domestic and foreign passengers who had post-purchase experience and had used the airline's services more than once. The survey data were obtained concurrently from arrival passengers at two major international airports using an electronic questionnaire through random and purposive sampling techniques. The data was analysed using the ordinal logit model and structural equation model. From the 606 respondents, 524 responses were received but 489 responses were valid for data analysis and reporting and were obtained mostly from economy and business class passengers. The study found that the quality of seat pitch, allowance of 30 kg luggage permission, availability of online check-in 24 hours before the departing flight, quality of space for legroom between seats, and the quality of seats that can be converted into a fully flatbed are the major service factors influencing willingness-to-repurchase economy and business class tickets. Also, it was found that passengers' willingness to repurchase is influenced majorly by service quality, but not necessarily influenced by satisfaction. These results reflect the passengers' consciousness of COVID-19 because the study was conducted during the heat of COVID-19 pandemic. Recommendations were suggested for airline management based on each class.

To attain a competitive edge, it is essential to realize the significant critical success factors (CSFs) that contribute to the adoption of Quality 4.0 (Q4.0) in manufacturing organizations. Therefore, the study aimed to analyze CSFs for Q4.0 implementation in manufacturing small and medium-sized enterprises (SMEs) using multi-criteria decision-making (MCDM) tool.

The present study begins with a systematic literature review of past studies about Q4.0 implementation in manufacturing, followed by the identification of CSFs. Further, a case study was conducted wherein 42 CSFs identified were grouped into five dimensions. Best–worst method is a MCDM tool applied as a solution methodology for the analysis of CSFs based on expert opinion and priority order of CSFs attained.

The priority order of CSFs is obtained. Based on the findings, significant CSFs are “Data prediction and Analytics,” “Organizational culture towards Quality 4.0” and “Machine to Machine communication.”

The shifting market dynamics incorporate Q4.0 inclusion for realizing zero defects and high traceability in automotive SMEs. The present study offers implications for industry managers and practitioners by delivering insights on how Q4.0 could be serving automotive systems and CSFs that industry authorities need to pay attention to effectively adopt Q4.0 in the current quality systems. The study will facilitate industry practitioners to meticulously examine CSFs for Q4.0 toward the improvement of SME performance.

The identification of CSFs for Q4.0 adoption in manufacturing SMEs, along with the prioritization of CFSs using the MCDM tool, is the original contribution by the authors.

This paper aims to examine the traditional business communities and family businesses of India, their emergence and sustained growth.

The authors analyze the role of business communities in family businesses of India and identify business communities that have still sustained and marked a global presence.

Business communities such as Marwaris have the knack for business activities and are leaders of family businesses in India today, who have sustained their past success and continue to create new histories. Other traditional business communities such as Parsis, Sindhis, Chettiars and Gujarati banias have not been able to sustain much. Possible reasons were switching to white-collar jobs, taking up diplomacy and other professions, inter caste marriages, international migration in search of business and Indian government policies.

This study provides a useful source of information for academics, policy-makers and economists.

Traditional business communities populate the list of family businesses that have marked their global presence. This paper identifies various factors that are responsible for the growth and sustainability of these business communities.

The study clarifies the role of business communities in domestic economic development.

The paper explored traditional business communities of India and assessed their role in family businesses of India that currently mark a global presence.

Indian investors have been exposed to a plethora of investment opportunities in the past decade and a half, after the liberalization process which commenced in 1991. Over the years, the increased competition has brought a wind of change, not just in the economic environment within the country, but also a radical change in the choices and preferences of the financial consumers. In the endeavor to provide more personalized advice to the financial consumers, financial service providers need more insights into the minds of the consumers. However, little work has been done to understand the Indian individual investor. The purpose of this paper is to study the Individual investor in India: to segment the investor into distinct behavioural groups based on their biases; to understand the investment preferences and profile of the identified segments; and to understand the implications for financial services providers.

Exploratory research, using In‐depth interviews, was undertaken to explore the manifestations of the biases among the individual investors. The initial inventory of 97 items pertaining to biases was assessed for content and face validity and subject to pilot test and subsequent rounds of modification. The final data were collected on a sample of 377 respondents, using a questionnaire that captured eight biases: Reliance on experts; Overconfidence bias; Self‐control bias; Categorisation tendency; Budgeting tendency; Adaptive tendency; Socially responsible investing bias; and Spouse effect. The segments of investor biases were identified using cluster analysis.

A cluster analysis of data, collected from individual investors was conducted in India (n=377), yielded four main segments of individual investors biases, which have been termed as the Novice Learner, the Competent Confirmer, the Cautious Anticipator and the Efficient Planner. This typology has predictive validity with regard to financial satisfaction and perceived financial market knowledge.

The paper presents a very important practical tool which can help financial service providers define their target audience more sharply and understand how people in these segments differ, behaviorally. Better understanding of investor's perceptions would help in designing more attractive financial products and development of marketing strategies that would impact the customer's financial satisfaction levels and create trust and customer loyalty.

This paper is a first of its kind to empirically identify the segments of biased behavior among investors and contributes to furthering the understanding on investor behavior.

The purpose of this paper is to analyse the possible causes of elderly abuse in India and its repercussions for the society, based on the real cases and reports.

A multiple case study approach has been used for the study sourced from archival newspaper reports, crime reports, and narration.

Greater vigilance and more effective legislation would be required to solve the problem related to elder abuse.

There is not much study of causes, consequences, effectiveness of the legal system with respect to elderly abuse in India. In that way, it will be a unique contribution.