An Opportunity for India Post COVID-19 Pandemic

The world has slowly started adapting to the new reality post-COVID-19.  The new normal as people has deemed it. The world at large and in India, we are still struggling to keep the economy open and keep the daily infections to a minimum level. According to Worldometer, there are at present 16,897,208 cases of which 10,461,318 have recovered and over 600,523 have lost their lives. In this bleak time, health-wise for any country, there is some opportunity in disguise for India in terms of economy and institutional change speaks MokshPopli.

China came to a standstill from December 2019 to April 2020. This halt brought devastating results all over the globe. In today's time, the world is relying on China as an economic manufacturing hub. But the spread of virus delayed everything. Countries like Japan and the USA are looking for alternative countries where manufacturing can be shifted. Japan has already announced incentives for companies to move out of China. Moksh Popli believes that being a close neighbor, geographic factors, cheap labor, prior proven excellence in IT, Pharma, Engineering, etc., will revive the image of India. In the past few days, the economy and its strategies have emerged as a strong contender. The programs like Make in India, AATMANIRBHAR BHARAT, and Vocal for Local along with a strong supply chain are giving new perspectives to the interested countries to shift their industries in India.

The opportunity of creating jobs for the young generation is another prospect that India has to excel in. India has seen the impact of global economies tumbling down and forecast of negative growth of 5-15% for all global economies, entry-level and mid-level roles must be opened to the youth for employment opportunities especially in rural and semi-urban areas. At the beginning of the lockdown, large migrations were recorded from villages and cities due to a lack of employment. Moksh Popli says, now, with unlocks, things are coming back on track.

Lastly, India needs to focus on sustainable agriculture and not to go back to being an oil economy, instead of moving towards a greener economy. For the first part, food is essential for all human beings and it was especially proven during the lockdown. As we saw huge recessions during World War I, the Great Depression, and World War II, food security is vital for the survival and revival of the economy.

It will range from subsidizing the organic produce market and strengthening the supply chain to reach the end consumer and reap the benefits of the system. With organic produce, it will focus on greener planet with electric cars, zero carbon footprint, etc. This can happen if India and its leadership start taking institutional actions, adds Moksh Popli.