Author
The author is a practising chartered accountant and an independent director on many large public companies whose views and ideas have been instrumental in framing policy
With planned strategic roadmap and robust action devoid of bureaucratic rigmarole, India can bring its economy back to track and become an attractive investment hub for businesses from world over.
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With disruptions in China’s manufacturing and production operations and delayed delivery of goods as a result of the ongoing coronavirus outbreak, many global companies are seeking alternative destinations to diversify their supply chains.
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It is expected that the slowdown in growth will take a few quarters to recover and the youth would need to realign their lifestyle and pursuit of opportunities.
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There are some keys steps like amending the Essential Commodities Act wherein cereals, oil, potatoes and onion will be out of the ambit. Farmers would benefit in terms of pricing and these measures may encourage help in deurbanization to some extent.
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Drops in BSE sensitive index is temporary, and each dip provides investors with the opportunity to enter the market and earn a higher return especially for those with long term horizon.
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To support the sector, the government should extend tax compliances, interest rate reductions and announce special packages to mitigate the crisis faced by the capital- and labour-intensive industry.
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