Post Covid World : Opportunities For India

Covid 19 has thrown unprecedented challenges to country and world as a whole. All of a sudden we are faced with a situation where wheels of economy has completely stopped. A major part of our population has become dependent on Government doles. Since business cycles have been disrupted globally – no one is sure how businesses of every size shall survive. Revenues of Govt. have also been badly hit which shall in turn impact development and welfare programs.

At global level USA and other developed economies have been severely impacted with huge number of deaths and faltered economies. No one is sure whether major defence manufacturing countries shall be able to sell their expensive machines. One indicator is steep fall in petroleum prices globally.

China which is believed by many to be source of this disease, seems to be better placed as compared to other major economies. But this may not hold for long. Firstly Trust Level between China and rest of world has taken a major hit. This shall not be easy for China to repair by its usual strong arm tactics. Secondly drop in global economic growth shall lead to drop in demand for Chinese products and services. This shall lead to reduction in its capacity to give large economic aids to increase its influence.

As regards countries like Pakistan, it shall be facing a major economic crisis along with drop in overseas remittances and aids from friendly countries. To divert attention of its public , Pak may resort to steep increase in its efforts to ramp up tensions with India.

Thus Post Covid 19 world is going to be a vastly different world with huge challenges for Indian State and vast number of its polulation.

Key Strategies for India amid Covid19 :

  1. Tracking & Leveraging new opportunities :  Central & State Governments should form Groups under Niti Ayog to track any new opportunity arising globally and responding by directing efforts of country to take advantage of it. It is no use to be complacent but make extra efforts towards this. Every State must have a Nodal Officer who shall coordinate towards this.
  2. Giving new thrust to Covid sunrise sectors : Covid has shown important of some of key sectors like
  • Healthcare : Pharmaceuticals , Medical Equipment, Biotech, Herbal Medicines, Hospitals, Medical Education etc.
  • Hygiene & Cleanliness : Sanitizers, Water & Air purifiers.
  • Online Content  : Online Education, Entertainment, News etc.
  • Online Infrastructure : Online Infrastructure in form of Hardware , Networking & Connectivity.

Special Groups should be formed may be under Niti Ayog, to give thrust to these sectors in form of scale , speed and reach. Our vision should be take these sectors to a global level.

3. Research & Development : Hi tech research is key to future solutions to humanity. India needs to give greater thrust to its Research & Development efforts to bring it at par with global powers. This may seem as expensive but it worthy investment into future.

4. Reorient the Education & Skill Sectors

Education & Skill sector needs a re-orientation, keeping in view new skills required globally Post Covid situation. Special thrust needs to be given to sectors such as Healthcare, Digitization, Research etc. Online Education needs to be taken to grass root level and a new body may be created for same.

5. Thrust to Entrepreneurship / New Business Models :

Covid 19 crisis should lead to rethink about new business models which have ability to fast adapt to changing dynamics of global business environment. Thrust should also be given to Entrepreneurship among youth. Due to emerging unemployment crisis , it is essential that vast number of entrepreneurs and start ups come up to provide micro employments. Start up revolution has to be mobilized at mass level and integrated with Jugaad  culture of this country where grass root innovations are operating.

6. Self Reliance in Maniufacturing:

Self – reliance in Manufacturing is not a choice but need of day. Manufacturing has to be a new passion for our youth and a radical restructuring is required for same. Niti Ayoga should come out with list of products which are presently imported and specific plans need to be framed to produce them locally.

7. Thrust to Cleanliness & Hygiene :

India has made great strides through its Swach Bharat Campaign , which led to massive increase in public awareness, Making of Toilets , Pollution Control measures etc. Covid 19 has paced this thrust with increased use of Sanitizers and Face Masks. This opportunity should be used to further give momentum to this. Cleanliness and Hygiene should become a second habit of vast majority of population.

This list is not exhaustive but gives an indication to direction which may lead to new India emerging from this crisis.

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