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India Inc. Be Prepared!

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As India is going through a tough time to control a possible outbreak of COVID-19, there is a lot of pessimism among people, professionals and businessmen especially about the future of Indian economy. Their fear is primarily out of the uncertainty prevailing at this point of time in terms of How long the curfew will continue. What will happen to the job markets? etc.

My request to all my brothers and  sisters across India is to be calm and follow the directions of union and state governments. Stay at home and protect yourself from COVID. Never be complacent as the whole medical fraternity across the globe is still in the process of learning more about this deadly pandemic. At the time of this writing, there is no vaccine or conclusive treatment protocol available. The best way to protect yourself from this pandemic is to self-quarantine. Click here to read the Standard Operating Procedure for Self-Quarantine.

Now let us talk about why I am showing some sort of optimism even at this adversity. Once we come out of this pandemic situation, India is going to see a huge boom in terms of manufacturing and service sectors. Indian industries might not have seen such kind of demand in its entire history. This demand will come from the following three sources:

  1. Massive flow of Foreign Direct Investments from European and American countries to build factories and capacities across India. Of course, Australia and Middle East countries will follow suit.
  2. The products and services demand from across the globe.
  3. The pent-up demand from within India.

You may call it as a prediction or a forecast. But I firmly believe that India will have a good problem after these two or three months of sluggish period. Indian businesses will be scurrying to meet the demand of the customers. You may not have the time to react. Businesses that are agile and well prepared will get a greater pie. Now you have all the time, say three months, think how you can get ready to tap the opportunity that is on the way. The real revolution of Make in India is waiting to happen.

Due to political reasons, I may not be able to share why I firmly believe in the above scenario. But some of you might have guessed the reason. Keep it with you. Act now. We are on the way to become an economic superpower.

If you believe in this scenario, please share this with your business leaders so that you help your company better prepared.

Fhyzics Business Consultants Private Limited – a boutique business consulting firm specialising in business plan, business strategy, standard operating procedures, new product development, supply chain management and business analysis. Fhyzics represents APICS, USA; CIPS, UK; IIBA, Canada; IREB, Germany; PDMA, USA; BCS, UK in Indian geography.

Written by Venkadesh Narayanan

Venkadesh is a Mechanical Engineer and an MBA with 30 years of experience in the domains of supply chain management, business analysis, new product development, business plan and standard operating procedures. He is currently working as Principal Consultant at Fhyzics Business Consultants. He is also serving as President, PDMA-India (an Indian affiliate of PDMA, USA) and Recognised Instructor of APICS, USA and CIPS, UK. He is a former member of Indian Civil Services (IRAS). Fhyzics offers consulting, certification, and executive development programs in the domains of supply chain management, business analysis and new product development.

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