The Indian Chamber of Commerce and Industry, Coimbatore (ICCIC) organized a special lecture on Monday on the topic ‘Covid pandemic and Indian Economy – A Glance’ at Chamber Hall.
C.Balasubramanian, President, ICCIC welcomed the gathering. K. Pugalendhi, Economist from Chennai addressed the Members of the Chamber.
He shared that the pandemic has brought in lots of disruption to every industry. He briefed how some industries like shipping thrived during this pandemic and how the manufacturing industry, especially those dependent on steel felt the bite of the rising costs, and how due to less availability of chips, the automobile industry suffered decline in their production.
While the scenario seems dull on the one side, he said every gloomy moment like a pandemic brings into the world new confidence. He pointed how our country developed a vaccine in record time and said we can find great opportunities post this struggle. He said that with every great obstacle there comes a new normal, new thinking, new innovation and new confidence.
He said a superpower like America wants India to be the new workshop of the world. Drawing attention to how Apple has moved its plant to India, and started making products here, he said good days are around the corner for the country. He shared that India and Taiwan are speaking about making chips.
He then went on to express ideas on how long will certain industries take time to come back to normal, and how industry 4.0 will revolutionize the sector as a whole. Attendants of this lecture raised their questions to the chief guest and received clarification.