Indian Economy, COVID 19, Indian Subsidiary, Post pandemic, ebizfiling

Revival and Growth story and strategies for Indian Economy post COVID 19 crisis

An unknown, invisible and unpredictable enemy which we call as “Corona Virus- COVID 19” has shaken not only the people but also the Economy of the whole World and Indian Economy is not aloof. The COVID 19 crisis has not only affected the small businesses and MSMe sectors, but also it has hit the large industries and companies around the world and India has been no exception to this. Due to this, foreign investors are afraid of starting an Indian Subsidiary or making any other investment in India even post pandemic.

 

It has been months since the pandemic started and after so many months of lock-down, India is finally opening doors for businesses and companies with all the “New Normal” approach. And we are more than happy that India is bouncing back rapidly and ready to set a benchmark in revival and growth post pandemic.

 

As said by FM Nirmala Sitharaman, The Indian economy will be among the fastest growing in the coming months.

 

How are we doing this? How Indian is roaring back post pandemic crisis? What is that the government is doing to help the Indian economy to revive? Is there an opportunity post crisis for new industries to boom and present new employment opportunities? In this article, we have discussed all the factors which will confirm why you should not be worried at all for investing or starting a business in India post pandemic.

Prime Minister’s vision for the Self-reliant India

Hon’ble Prime Minister of India, Mr. Narendra Modi assured the global investors at the Virtual Global Investor Roundtable (VGIR), on Thursday, 5th Novembeer, 2020 that India will do whatever it takes to make it the engine of global growth resurgence in the post-COVID 19 world.

 

Mr. Narendra Modi quoted  “India’s growth has the potential to catalyze global economic resurgence. Any achievement by India will have a multiplier effect on world’s development and welfare. A strong and vibrant India can make infinite contribution to stabilization of the world economic order. We will do whatever it takes to make India the engine of global growth resurgence.

 

Further he said “India has embarked on a massive infrastructure building spree of highways, railways, metros, waterways, airports across the country. We are building millions of affordable houses for the new middle class. We want investments not just in big cities but smaller cities and towns too,”

 

Highlighting the measures taken by the government to improve manufacturing potential in the country including the benign corporate tax regime, new labour code and production linked incentive schemes in specific sectors, Mr. Modi said he is conscious of the requirement of the funds to provide the best and safest long term returns. “Therefore, our approach is of finding long term and sustainable solutions for issues. Such an approach mixes very well with your requirement.”

 

The Prime Minister of India said India’s quest to become self-reliant is not just a vision but a well-planned economic strategy. “A strategy that aims to use the capabilities of our businesses and skills of our workers to make India into a global manufacturing powerhouse; a strategy that aims to use our strength in technology to become a global centre for innovation; a strategy that aims to contribute to global development using our immense human resources and their talents.”

 

 

20 lakh crore package to revive the economy

Prime Minister Narendra Modi’s recent announcement of a 20 lakh crore package to revive the economy would help the movement to create a more self-reliant India. This money will be used in creating more opportunities for employment, new businesses and new startups which in turn will help the economy to get a boost.

Ban of Chinese Products

In most countries of the world, Chinese products have been banned. This has happened as after the pandemic, people all over the world are staying away from Chinese products because of mistrust. Because of this a large market is ready to be replaced with a new market because of which India will emerge as an attractive alternative market, and the Indian economy will start growing exponentially.

Make in India Initiative

“Make in India” has been the main agenda of the current government for the longest period now. The government’s vision of making India a manufacturing hub can become a reality through timely focused efforts, given that global players are looking for options to set up their manufacturing base here.

Reforms in various sectors

The pandemic has provided us an opportunity to conduct reforms that were waiting to happen for a decade. There has been Infinite Reforms in India across various sectors such as coal, agriculture, labour, defense, civil aviation and so on have been undertaken which will help us get back on the higher growth path than we were on before the crisis.

Reforms in Manufacturing sectors

There has been a number of reform measures from cutting down corporate tax rate to 15% for new manufacturing units to raising FDI limits for foreign investors and Indian Subsidiaries and allowing private investment in strategic sectors like space, defense and so on.

 

These reforms undertaken in the last few months will help increase the growth rate and return in both the manufacturing and agriculture sectors.

Conclusion

The Indian economy is already getting back on track faster than expected. Moreover, sooner than ever India will also signal to the world that this is a new India which believes in markets and market forces, a new India that works towards growth and stability. Be it Corporate Sector or Financial market or Banking Sectors, Indian Economy has started to bloom again with new normalcy. Doors are opening for the new entrepreneurs and investors not only from India but from around the globe.

 

Moreover, the key advantages that India offers to the world such as human resources, innovation and technology strengths and a vibrant business ecosystem with a focus on Environmental, Social and Governance standards. This will go a long way towards attracting foreign investors and assuring them that India is open for infinite business as a stable and resilient partner for them.

 

Hope this article is helpful.

 

Suggested Read: Why it is a good move to start a business / Indian Subsidiary / manufacturing base in India.

 

About Ebizfiling -

EbizFiling is a concept that emerged with the progressive and intellectual mindset of like-minded people. It aims at delivering the end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad in all the best possible ways.
 
To know more about our services and for a free consultation, get in touch with our team on  info@ebizfiling.com or call 9643203209.
 
Ebizfiling

Author: dharti

Dharti Popat (B.Com, LLB) is a young, enthusiastic and intellectual Content Writer at Ebizfiling.com. She studied Law and after practicing as an Advocate for quite some time, her interest towards writing drew her to choose a different career path and start working as a Content Writer. She has been instrumental in creating wonderful contents at Ebizfiling.com !

Follow Author

Leave a Reply

Your email address will not be published.

Reviews

  • Client Review & Ebizfiling

    Amrish Ganatra

    28 Nov 2017

    "Our Company being an Indian Subsidiary requires much compliance, but ebizfiling has provided us end to end services. They are very important part of our business. They handle all of the legal tasks in India. I highly recommend ebizfiling for non-residents thinking of starting a project in India."

  • Client Review, Ebizfiling

    Hemanshu Mahajan

    01 Apr 2018

    I registered my LLP company, from eBizfilling. Great team and very competitive pricing. Will definitely use their services again.Thanks for work well done.

Hi, Welcome to EbizFiling!

Hello there!!! Let us know if you have any Questions.

Thank you for your message.

whatsapp Call Now Button