Market scenario can be challenging but opportunist can find a great juncture from these challenges. The 21 days’ lockdown will cost $120 Billion loss to the nation. India’s GDP might be further affected to 4%, work related to Operations, Sales, banking, supply chain would be disrupted. Farmers may not be able to resume the farming while India’s approximately 90% population depends on farming. There is no pollution and we could see the blue sky with no interruption of flights & factory smoke. China and America were having trade war but now the situation is different and countries are struggling to save life of their people and self, during this explosion like situation other countries might isolate the country which they feel is the cause of this trouble. Although there are many speculationson this.
But here is an opportunity for India, the lockdown is to save the lives of people and to control the spread of disease. The opportunity for us during the lockdown is that we have 125+ million English speaking population, which is the 2ndlargest in the world, just behind the USA. This comes with great IT talent, cost effective labor, hard working people, innovation and “Skill India” to further develop & support our young talent. Diversity and Inclusion of so many cultures and still remaining as one is the strength of the country. The recent example was when few days back the leadership of India suggested to get together and clap for thanking all countrymen involved in extending essential services to us, while the rest of the country was on lockdown, during “Janta Curfew” at 5:00 PM. People from all the regions, age group, caste, color and creed came forward and the entire country was one to fight back together.
The brighter side to lockdown is that most of us have started re-focusing our energies towards ourselves and understanding the value of ‘irreplaceable’ human life. This period can further be used on self-development, drafting new strategies, optimizing cost, innovative thoughts, improving services and post lockdown acting on – “how we can be number 1 in the world in coming years?” All of this comes at the cost of our countries economy running behind by a year or 2 but the same is the case for the rest of the world.
The auto parts industry and similar manufacturing unit which are recently affected, they can be further used to diversify the talent in manufacturing ventilators which may improve the health facility of the country and outside. Some of the companies like Mahindra and Maruti are already planning to produce ventilators at its factories. Schools in India can work on innovative and interactive quiz based on-line class modules, to make it interesting points can be awarded to students for participation. Beauty product companies can diversify business line by making masks and similarly soap making companies can focus on manufacturing sanitizer. Pharma industry and entire healthcare sector can evolve further with better health facilities including vaccines. Being the great innovative IT hub, India can further leverage agriculture industry and bring automation there. More digitalization and robotic to reach the era of Technology O5 before other countries, let’s evolve the Indian industries completely and get more competitive.