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Logistics has become one of the key vertical in the organization and as an important industry for an economy as a whole. It plays an important role in the economic development of a country, including various infrastructure development to support and enhance manufacturing and other sectors. The economy has to perform efficiently in this sector for supporting a growth in all other sectors. To provide a visibility on the same, World Bank publishes index for providing visibility on the performance and scope for improvement in logistics sectors of economies. This index is known as logistics performance index and this has been included in this study for understanding the effect on economic development of the country along with the logistics cost.

Has been enjoyed for millennia, tea has a long and complex history in China. In recent times, more than 1,500 types of propagated clones of tea plants have been developed and cultivated in more than 36 countries as a cash crop plantation (Lighton et al., 2014). Smallholder farmers account for more than 70% of the world’s tea and 80% of China’s tea production (Chang, 2015). Although tea plantation and production has increased over the past three decades, its productivity per unit area has not significantly changed, which contrasts with other agricultural products across the globe and China in particular (Basu et al., 2010). This may be because smallholder farmers are confronted by many challenges that affect the quality and quantity of tea production. A number of contributions (Tan et al., 2006; Wang et al., 2010, 2014; Zhao, 2010,) identify the common challenges that confront smallholder farmers in China, which include a lack of modern agricultural machinery, fragmented and small farm plots, a lack of access to an irrigation and drainage system, labor shortages, poor soil quality, pests, diseases, drought and climate change.

Individuals and corporations alike are aware of the need for data protection. They undergo training and perform exercises where various types data-jeopardizing techniques or cyberattacks are simulated in order to increase the resilience of society and preparedness for crisis situations (National Cyber and Information Security Agency, 2019a). With the help of the General Data Protection Regulation (GDPR), the European Commission (EC) seeks to draw a line between the personal data security and the free and uncontrolled manipulation of personal data (IT Governance Privacy Team, 2020). Since its advent, the GDPR has put burden on the shoulders of various institutions which have been struggling to share data. Not surprisingly, it brought a flareup of frustration (Bovenberg et al., 2020). The intension was good, as the GDPR would ensure and balance the fragile relationship between the data protection and other regulations, such as competition law, consumer protection or intellectual property (De Hert et al., 2018).

Corporate governance has been a critical issue focused by regulatory bodies, policymakers, and academicians to improve the economic and sustainability conditions in developing countries for over a decade (Brown et al., 2011; Wintoki et al., 2012; Claessens, 2006). Additionally, the collapse of corporate governance has compromised the government legally, financially, and economically, resulting in a lack of accountability in Bangladesh. An organised financial system includes proper asset allocation, fund abuse prevention, minority interest protection, and timely dividend payment to improve the corporate governance system and enable corporate laws to enhance firm value (La Porta, 2006). In a competitive global market, a robust regulatory framework is required to mandate organisational compliance involving policies and procedures to ensure accountability (Uddin et al., 2019).

The dominant determinant of development, in the current economy affected by globalization, is not the quantity of resources, but especially their productivity. Although the productivity is not everything on the way towards the successful economics, as Krugman (1997) pointed out, it is almost everything in the longrun. The premise of favourable development is therefore the effective, efficient and economical use of available resources, whose appropriate structure and rational allocation is the basis for the efficiency of the process of transforming the potential to entering real outputs. On this basis, a country or region is competing with its surroundings, as well as affecting the living conditions and quality of life of the population (Capello et al., 2011).