Biz EOD: India's grand COVID vaccination plan; world trade to shrink by one-fifth; Netflix's strategy to increase users

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

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Prime Minister Narendra Modi wants to make use of India's experience with disaster management and conducting elections across the length and breadth of the country to put in place an efficient system for vaccine delivery and administration. The world trade will shrink by around one fifth this year, foreign direct investment flows by up to 40 per cent and remittances will drop by over $100 billion, says UNCTAD's Trade and Development Report 2020. Netflix is planning to give its users in India access to streaming its massive catalogue for free for a weekend. Read for more top stories from the world of business and economy:

1. BT Buzz: Unveiling India's grand plan to vaccinate 130 crore against COVID-19

India has 29,000 storage points, 83,000 deep freezers, 736 district stores and 258 cold rooms to store vaccines, but they have to be scaled up further for India to vaccinate all its people.

2. Sale of home utility products outpaces fashion this festive season

There is an increase in purchase of storage solutions and serveware followed by home linen such as bed sheets, bed covers, bath linen, comforters, cushion covers.

3. World trade to shrink by one-fifth, FDI flows 40%, remittances by $100 bn: UN

UNCTAD expects India's GDP to contract 5.9 per cent in 2020 and recover to 3.9 per cent next year.

4. World staring at erosion equivalent to Indian, Brazilian, Mexican economies: UN

The UNCTAD report also said that it expects South Asia to contract 4.8 per cent and South-East Asia to dip 2.2 per cent. South Asia is expected to recover 3.9 per cent in 2021, while South-East Asia is expected to pull up 4.3 per cent.

5. Netflix's strategy to increase users in India -- Free-access on weekend!

Netflix competes with the likes of Disney, Amazon, Hotstar and over 30 additional services in India that is one of the chosen markets.