Bells, Elves & Gingerbread?
It is that time of the year again when the spirit of giving and kindness is embraced. The festive season always evokes a sense of positivity, love and abundance. Will 2020 be different? Has the spirit of giving in abundance been dampened by the travails the year has put mankind through? The world over, economies stare at numbers that show a severe contraction in growth parameters like the GDP. The World Bank estimates a contraction of 9.6 per cent in India’s GDP in the current fiscal. It does say however, that growth in India is projected to rebound to 5.4 per cent in FY22.
The festive season is a perfect time to spur that much needed recovery in the market and the economy. Retailers are looking at the e-commerce platform to gain some lost ground. Our cover story for the Festival Special issue looks closely at different sectors of the economy and how the next few months are likely to pan out for them. This endeavour is complemented by essays on the subject by industry experts. We have Ajit Dayal, Founder, Quantum Asset Management Company, speaking of measures to revive the economy and key investment areas. In addition, we have features on the jewellery sector and the e-commerce sector.
Our second cover story examines the impact of Covid-19 on the hospitality and tourism sectors. Industry leaders suggest solutions to the twin problems of the drop in inflows of both overseas tourism and domestic tourism. Hospitality industry stalwarts sound optimistic about a turnaround in business and in spending in local rupees, however, as domestic tourism shows signs of revival.
Beyond festivities and the economy, we examine the realm of corporate laws. While the insolvency and bankruptcy laws have helped India Inc. resolve issues, much more may be required to strengthen the existing tribunals and the dispute resolution mechanism.
Of course, we also bring to you all the regular features and columns that you enjoy so much. The Last Word in this issue goes to Motofumi Shitara, Chairman, Yamaha Motor India, who talks of the company’s double-digit growth in sales for four months in a row in a stressed economy.
I do hope you enjoy reading this issue of BW Businessworld just as much as we did compiling it.
Happy Reading!
