Ground Based Solutions for curbing
Economic Slowdown
The
novel coronavirus pandemic has stalled economic activity, threatening to push
the world into a recession, and most sectors are feeling its impact.
But
there are sectors that have remained unscathed from the impact of the virus
outbreak as yet, some of which are as follows:
Ø Telecom Sector:
As, citizens are being
urged to stay at home and practice social distancing has been an aid to the
telecom sector as there has been a consumption of more data.
Ø Healthcare Sector:
The Government of
India has committed to spend nearly Rs 10,000 crore to encourage companies to
manufacture pharmaceutical ingredients domestically after the coronavirus
outbreak disrupted supply chains.
Ø Insurance Sector:
The Insurance Regulatory
Authority (IRDAI) has asked insurers to cover Covid-19 cases in their existing
policies and ensured to the attend the coronavirus claims expeditiously.
So, we as consultants should focus on these above mentioned
sectors in order to take this crisis as an opportunity and turning
it favorable for the business is all that matters to let it sail smoothly in
these difficult times. Various schemes have been introduced
by the Ministry of Corporate Affairs to lure the Companies which are at default
to make their default good by completing their pending filings.
Even, our Hon’ble Prime
Minister Narendra Modi had mentioned for setting up a 'Covid-19 Economic
Response Task Force' to decide on relief package for sectors hit by the
coronavirus outbreak.
Effective communications during this crisis are crucial for retaining
market stability which will not only help us sail this phase smoothly but also
create an impact on the society at large.
Though, it is imperative to reconsider the business model
and reassess where your business stands as per your assumptions concerning the
revenue and cost but the ideal way is to maintain transparency and healthy relationships
with our stakeholders and contracted parties, as we are together in all this.
Together,
we could build something better, fairer, more sustainable in its place.
