Current situation of Indian economy during Covid-19 & measures taken to boost Indian economy
In 2020 every country in the world is facing several problem like health security, public safty, job security and economic safety etc. Covid-19 has created this problem for every country whether it is undeveloped country, developing country or developed country and still it is not in control. On other hand it can be said that Covid-19 has also created confidence in people basically in Indian people and Indian peoples have shown their willingness that they can fight with any situation whether it is domestic, national or international like Covid-19. In these day Indian people is suffing from two major problem one is Covid-19 and other is Flood in most of the state of india.
Due to this it has been realised by public and government both that there should be sufficient hospital to cure mass public and make them safe, sufficient factories/companies to provide job to the public in such global problem and ready to accommodate any demand of the country arised any time like "Mask, Sanitizer & PPE kit" etc.
Earlier "Mask, Sanitizer & PPE kit" were not produced or produced in very less quantity but during this situation some of the public & companies started production/manufacturing of "Mask, Sanitizer & PPE kit" without any prior planning, it shows that Indian people can handle/fight with any situation.
New Opportunity
Covid-19 problem has created many growth opportunities paths. Since everyone know that Indian people were mostly depend on Chinese product whether it is electronic gadgets mobiles, fridge, A.C., Computer, Laptop etc. or Toys, Diya of Diwali Pooja even Idol of our gods like Ganesha Ji's idol during Ganesh Chaturthi Pooja, Lakshmi Mata's idol of Diwali Pooja.
But lock down in India from last of February 2020, created new working culture (Work From Home) for which demand of electronic gadgets like Laptop, Router, computer parts, Printers, new internet connection, etc. increased very high while Indian Government blocks import from China due to two reason, first to control Covid-19 and second Line of Actual Control (LAC) conflict with China. These two causes have also created anti-China sentiments due to which Indian peoples are looking for “Made in India” product.
Which created new opportunity for Large company, MSME sector or small entrepreneur to setup a new business in order to meet the demand sharply increased for such various electronic gadgets and its small part like "keyboard, mobile, mobile & laptop charger, torch, toys and other hundreds of items. Demand of “Made in India” product is arising sharply, every Indians are asking from shopkeepers first for Made in India product, even online search for “Made in India” product is increasing sharply. Demand of Made in India electronic items like TV, Fridge, washing machine and A.C. etc. are also increasing very sharply.
Opportunities for Companies
Since Indian people are most young people in comparison to entire world and Indian is developing country, so demand of every items will be so high in Indian comparison to entire world, reason being that most of the Indian people have no car, fridge, TV, A.C. etc. so these people are prospective customer not those people which has already car, fridge, TV, A.C. etc., that’s why India is a big market for global company.
Since Indian people are most young in entire world so there is also mass availability of labor for companies on amazingly comfortable rate. Central and State government have also announced some extremely attractive incentives for new companies willing to setup new production unit in India like tax rebate, loan on attractive interest, providing lands in SEZ (special economic zone) area, changing some rule/act easy for formation of companies in India etc.
Opportunities for Indian people
Although Covid-19 has created a lot of problems, but it has also opened a lots of opportunities window for Indian people. Since most of the companies are shifting from china to India so it is also creating a lot of direct and indirect jobs like millions will be directly hired by these companies and millions will got indirect job like someone will open a small factory and manufacture keyboard, mouse, charger etc. and will supply to these big companies because big companies does not manufacture every parts and many more factory will be opened to supply small parts to these companies. In these all economic operations millions income will increase and if millions income will increase then some of or most of them will buy new mobile, cars, A.C., fridge etc. so when they will buy it then demand will amazingly increase and again if demand will increase then new production unit will be setup which will create more job opportunities. So finally there is great time ahead for Indian economy.
