COVID-19: Boon or Bane For Indian Economy

The huge impact of coronavirus spread on the economy at large, including the loss of wage work to millions of those in the unorganised sector.

For India there is an opportunity. We all know that China is the global manufacturing hub for the world. But after this entire COVID-19 episode, entire world at least for some time will be cautious of trading with China for all the practical reasons. Although not an immediate significant shift will happen from China because shifting your manufacturing is obviously not an overnight job, but the speculations are ripe and if India manages to take in even 5% of that shift, it will be a huge opportunity for us.

The reason for the strong relationship between industrialisation and economic development is that the manufacturing sector is the driver of productivity growth. This, in turn, is the lifeblood of technological development. The growth of manufacturing machinery output, and technological improvements in that machinery, are the main drivers of economic growth. Now is the opportunity to leverage, escalate the "Made in India" campaigns and efforts, in the wake of controlled FDIs and FIIs moving in.

Even in sports, this is a good opportunity to improve our sports infrastructure, support systems while aggressively and positively promoting Khelo India to groom our homegrown talents for the world stage.