India stands out through evidence-based action that it is aiding countries debilitated by the pandemic. Richer nations can no longer look to ignore the plight of poorer countries in the fight against the pandemic. The economic fallout from this could be enormous.
Several leading indicators, such as automobile sales, power and fuel consumption, demand for cement and steel and offtake of housing, personal and farm loans show the economy is slowly recovering in Q2 from the massive 23.9 per cent contraction in Q1. But a full recovery will be possible only next year.
The Covid-19 pandemic may have changed the very foundations of India’s job market. Roles that were till recently reserved for in-house employees are now being outsourced. And social acceptance of part-time jobs as respectable employment is helping this trend gain momentum.
Rajbikram Nayar, Managing Partner, Ontogeny Capital, talks about the benefits of the Special Purpose Acquisition Company, or SPAC as it is commonly known. SPAC is a financial product till now largely relevant to the United States, but it has since gone mainstream with great success this year. Nayar hopes that this model will be embraced by the Indian market as businesses look for underwriters and investors as the economy is set to launch into the most shining decade ever. In such an environment SPAC could play an important role.
The Indian government’s relentless focus on making innovation a central tenet of economic policy is paying off, with the country jumping by 33 places since 2015 to break into the top 50 nations in the Global Innovation Index. But blessed by a grassroots culture of innovation, the world’s fifth largest economy should now aim at the top 20 rankings of the same index.
The Chairman of Max Healthcare stresses on the importance of global collaborations to boost the healthcare industry in India. Highlights: The healthcare sector has a huge role to play towards India’s target of becoming a $5-trillion economy. The inadequacy of hospital infrastructure is a major hurdle in addressing healthcare demand in India. Reverse auctioning land, more efficient protocols for the construction of hospitals, promoting medical tourism and global collaborations are some measures that can be adopted to further the industry [...]
The post-pandemic Indian economy could resurrect itself by prioritising Sustainable Development - as the SDGs not only embody various capitals, but also hold immense potential for business opportunities. This needs to be realised through global partnerships and more private sector involvement in the domestic economy.
Addressing the India Global Week 2020, India’s Prime Minister Narendra Modi highlighted that some elements of revival in the green shoots of the Indian economy puts India in a much better position compared to others once the pandemic starts to subside and life returns to normalcy.
Keeping in mind the dictum that every challenge is also an opportunity, the time is right for the Narendra Modi government to launch second-generation reforms to unshackle the economy and put it back on the high growth trajectory.